CAMPBELL ALTERNATIVE ASSET TRUST
MONTHLY REPORT - June 2007
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STATEMENT OF CHANGES IN NET ASSET VALUE
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Net Asset Value(23,098.477 units) at May 31, 2007 $ 42,730,347
Additions of 172.134 units on June 30, 2007 331,172
Redemptions of (154.128) units on June 30, 2007 (296,530)
Offering Costs (33,637)
Net Income - June 2007 1,743,001
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Net Asset Value (23,116.483 units) at June 30, 2007 $ 44,474,368
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Net Asset Value per Unit at June 30, 2007 $ 1,923.92
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STATEMENT OF INCOME (LOSS)
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Income:
Gains (losses) on futures contracts:
Realized $ 2,177,542
Change in unrealized (1,481,968)
Gains (losses) on forward and options on forward contracts:
Realized (29,532)
Change in unrealized 1,305,901
Interest income 173,016
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2,144,953
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Expenses:
Brokerage fee 121,056
Performance fee 269,374
Operating expenses 11,507
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401,937
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Net Income (Loss) - June 2007 $ 1,743,016
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FUND STATISTICS
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Net Asset Value per Unit on June 30, 2007 $ 1,923.92
Net Asset Value per Unit on May 31, 2007 $ 1,849.92
Unit Value Monthly Gain (Loss) % 4.00 %
Fund 2007 calendar YTD Gain (Loss) % 5.97 %
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 Executive Officer
Campbell & Company, Inc.
Managing Owner
Campbell Alternative Asset Trust
Prepared without audit
Dear Investor,
Currency & Fixed Income Trading drive performance for the month...
Despite a mixed bag of performance in global equity markets with the US
finishing lower, a foiled terrorist attack in the heart of London's West End,
and ongoing inflation and sub-prime sector fears, Campbell managed to profit
predominantly from technical trends in currencies as well as technical and macro
trends in the interest rate sector.
During the first half of the month, the markets generally focused on rising
inflation as the predominant risk facing the world economy. Towards the end of
the month a flight to quality rally, sparked by concerns in the sub-prime and
mortgage-backed securities sector, highlighted growing global imbalances and
concern for credit quality in the global financial system.
Profits earned in currency and fixed income trading were dampened slightly by
losses in equity trading.
Small losses were also recorded in commodity trading as crude rallied above $70
per barrel as geo-political risks and inventory changes kept traders bullish.
As always, we remain committed to a disciplined, systematic approach to managing
your investment. Please do not hesitate to contact me if you have any questions.
Sincerely,
Terri Becks
President & CEO