CAMPBELL ALTERNATIVE ASSET TRUST
MONTHLY REPORT - September 2007
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STATEMENT OF CHANGES IN NET ASSET VALUE
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Net Asset Value (23,189.513 units) at August 31, 2007 $ 37,455,090
Additions of 72.514 units on September 30, 2007 119,587
Redemptions of (80.703) units on September 30, 2007 (133,093)
Offering Costs (28,772)
Net Income - September 2007 817,111
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Net Asset Value (23,181.324 units) at September 30, 2007 $38,229,923
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Net Asset Value per Unit at September 30, 2007 $ 1,649.17
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STATEMENT OF INCOME (LOSS)
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Income:
Gains (losses) on futures contracts:
Realized $ (23,048)
Change in unrealized 55,851
Gains (losses) on forward and options on forward contracts:
Realized (1,843,464)
Change in unrealized 2,588,638
Interest income 140,032
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918,009
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Expenses:
Brokerage fee 95,401
Performance fee 0
Operating expenses 5,497
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100,898
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Net Income (Loss) - September 2007 $ 817,111
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FUND STATISTICS
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Net Asset Value per Unit on September 30, 2007 $ 1,649.17
Net Asset Value per Unit on August 31, 2007 $ 1,615.17
Unit Value Monthly Gain (Loss) % 2.11 %
Fund 2007 calendar YTD Gain (Loss) % (9.16) %
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 trading drives performance for the month...
Global central bank intervention, which includes the long-awaited FOMC rate cut
decision announced mid-month, restored investor confidence, and normalcy
returned to global financial markets. The Fund earned the majority of its gains
in the foreign exchange markets as higher-yielding currencies once again gained
favor.
Trading in the stock indices sector also posted positive results, as the markets
breathed a collective sigh of relief that the Federal Reserve was seriously
addressing the credit crisis and resulting economic impact.
Fixed Income trading finished slightly negative as yields on the long-end were
little changed and investor risk appetite increased only moderately into
month-end. Energy and base metals trading finished slightly negative as
fundamentals were ignored by the market's desire for commodities in this
weakening dollar environment which exacerbated price action to the upside.
Although Campbell portfolios maintained a lower risk posture throughout the
month of September, full re-engagement will resume in early October.
The third quarter 2007 proved unusually painful, but we look forward to the
potential opportunities the last quarter may provide. Please do not hesitate to
contact me if you have any questions.
Sincerely,
Terri Becks
President & CEO