CAMPBELL ALTERNATIVE ASSET TRUST
MONTHLY REPORT - November 2007
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STATEMENT OF CHANGES IN NET ASSET VALUE
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Net Asset Value (23,165.112 units) at October 31, 2007 $ 40,431,922
Additions of 400.667 units on November 30, 2007 656,656
Redemptions of (274.525) units on November 30, 2007 (449,919)
Offering Costs (28,563)
Net Income - November 2007 (2,437,963)
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Net Asset Value (23,291.254 units) at November 30, 2007 $ 38,172,133
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Net Asset Value per Unit at November 30, 2007 $ 1,638.90
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STATEMENT OF INCOME (LOSS)
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Income:
Gains (losses) on futures contracts:
Realized $ (72,242)
Change in unrealized (951,319)
Gains (losses) on forward and options on forward contracts:
Realized (6,890)
Change in unrealized (1,417,800)
Interest income 113,860
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(2,334,391)
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Expenses:
Brokerage fee 95,723
Performance fee 0
Operating expenses 7,849
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103,572
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Net Income (Loss) - November 2007 $ (2,437,963)
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FUND STATISTICS
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Net Asset Value per Unit on November 30, 2007 $ 1,638.90
Net Asset Value per Unit on October 31, 2007 $ 1,745.38
Unit Value Monthly Gain (Loss) % (6.10) %
Fund 2007 calendar YTD Gain (Loss) % (9.73) %
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,
Give-back in currencies and stocks during a volatile November...
Losses from currency trading were the main driver in November's give-back of
October profits, as low yielding currencies performed stronger against the
dollar. The Yen reached levels not seen since June of 2005.
Trading in global equity indices produced losses as recessionary fears in the US
spawned global fears of slowing growth. US and European markets finished lower,
pushed down by banking and financial-related shares. Asian indices also finished
lower as Chinese valuations were second guessed while Japan focused on
deflation.
Energy and base metals were slightly negative as fears of slowing global growth
and fundamental arguments for lower energy prices began to take shape.
Profits in both the long- and short-term fixed income markets were realized as
Treasuries posted the best month in 12 years supported by sagging consumer
confidence and equities suffering a big losing month.
Retracements such as these can be difficult to stomach, but 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
Campbell & Company, Inc.
Managing Owner
Campbell Alternative Asset Trust