CAMPBELL ALTERNATIVE ASSET TRUST
MONTHLY REPORT - FEBRUARY 2009
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STATEMENT OF CHANGES IN NET ASSET VALUE
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Net Asset Value (22,300.780 units) at January 31, 2009 $ 36,474,158
Additions of 118.422 units on February 28, 2009 195,760
Redemptions of (76.360) units on February 28, 2009 (126,229)
Offering Costs (27,735)
Net Income - February 2009 418,661
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Net Asset Value (22,342.842 units) at February 28, 2009 $ 36,934,615
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Net Asset Value per Unit at February 28, 2009 $ 1,653.08
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STATEMENT OF INCOME (LOSS)
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Income:
Gains (losses) on futures contracts:
Realized $ 233,957
Change in unrealized 153,619
Gains (losses) on forward and options on forward contracts:
Realized (15,040)
Change in unrealized 143,395
Interest income 914
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516,845
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Expenses:
Brokerage fee 91,745
Performance fee 0
Operating expenses 6,439
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98,184
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Net Income (Loss) - February 2009 $ 418,661
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FUND STATISTICS
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Net Asset Value per Unit on February 28, 2009 $ 1,653.08
Net Asset Value per Unit on January 31, 2009 $ 1,635.56
Unit Value Monthly Gain (Loss) % 1.07%
Fund 2009 calendar YTD Gain (Loss) % 1.29%
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,
Bearish Positions Produce Positive Results in February...
The U.S. government's ability to address the economic crisis was met with
skepticism by Wall Street. Economic data remained persistently weak, especially
on the employment and housing fronts. The U.S. was not alone in reporting
negative news, as European and Asian economies also continued with the release
of dismal economic data such as declining exports and falling dividends.
The majority of February gains in the Trust resulted from equity indices
trading, particularly from short positions in the U.S. and Asia.
Additional gains were recorded in foreign exchange trading as investors
continued to feed U.S. Dollar strength, particularly relative to the Japanese
Yen. The U.S. Dollar continues to be the safe haven pick as the risk aversion
theme continues, as evidenced by the U.S. treasury yields recording all-time
lows.
The economic terrain continues to prove treacherous. We remain mindful of the
angst that such difficult times create for our investors, and therefore hope to
offset some of the pain by taking advantage of the opportunities it may provide
for our style of trading.
As always, please do not hesitate to contact me should you have any questions or
concerns.
Sincerely,
Terri Becks
President & CEO
Campbell & Company, Inc.
Managing Owner
Campbell Alternative Asset Trust