CAMPBELL ALTERNATIVE ASSET TRUST
MONTHLY REPORT - January 2007
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STATEMENT OF CHANGES IN NET ASSET VALUE
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Net Asset Value (23,613.916 units) at December 31, 2006 $ 42,871,715
Additions of 141.692 units on January 31, 2007 263,874
Redemptions of (148.694) units on January 31, 2007 (276,917)
Offering Costs (33,181)
Net Income - January 2007 1,138,281
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Net Asset Value (23,606.914 units) at January 31, 2007 $ 43,963,772
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Net Asset Value per Unit at January 31, 2007 $ 1,862.33
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STATEMENT OF INCOME (LOSS)
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Income:
Gains (losses) on futures contracts:
Realized $ (492,311)
Change in unrealized 1,587,225
Gains (losses) on forward and options on forward contracts:
Realized 42,705
Change in unrealized 70,220
Interest income 174,739
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1,382,578
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Expenses:
Brokerage fee 113,636
Performance fee 125,768
Operating expenses 4,893
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244,297
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Net Income (Loss) - January 2007 $ 1,138,281
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FUND STATISTICS
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Net Asset Value per Unit on January 31, 2007 $ 1,862.33
Net Asset Value per Unit on December 31, 2006 $ 1,815.53
Unit Value Monthly Gain (Loss) % 2.58 %
Fund 2007 calendar YTD Gain (Loss) % 2.58 %
To the best of my knowledge and belief, the information contained herein is
accurate and complete.
/s/ Theresa D. Becks
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Theresa D. Becks, Chief Financial Officer
Campbell & Company, Inc.
Managing Owner
Campbell Alternative Asset Trust
Prepared without audit
Dear Investor,
A strong start to a New Year ...
Fixed Income was a primary driver of performance in January as global economic
momentum continued to accelerate. Growth in payrolls, firming retail sales,
bottoming housing data and upbeat consumer confidence drove US bond prices
lower, while European prices also declined on six year highs in consumer
confidence and five year lows in German unemployment. Additional gains from the
equity index sector resulted as prices continued their steady upward movement on
strong M&A activity.
Small currency gains were driven by UK-related crosses as the Bank of England
unexpectedly raised rates to combat rising inflation, while Energy losses were
driven by price declines on inventory build-ups due to warmer than average
temperatures.
On a personal note, following the completion of treatment, a recent scan
indicated that I am free and clear of cancer. Still some healing to do, but
otherwise a truly good start to the New Year.
Sincerely,
Bruce Cleland
President & CEO
Campbell & Company Inc.
Managing Owner