CAMPBELL ALTERNATIVE ASSET TRUST
MONTHLY REPORT - SEPTEMBER 2009
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STATEMENT OF CHANGES IN NET ASSET VALUE
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Net Asset Value (20,416.745 units) at August 31, 2009 $ 30,568,728
Additions of 49.526 units on September 30, 2009 77,021
Redemptions of (268.439) units on September 30, 2009 (417,458)
Offering Costs (23,888)
Net Income - September 2009 1,205,813
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Net Asset Value (20,197.832 units) at September 30, 2009 $ 31,410,216
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Net Asset Value per Unit at September 30, 2009 $ 1,555.13
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STATEMENT OF INCOME (LOSS)
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Income:
Gains (losses) on futures contracts:
Realized $ 555,873
Change in unrealized (281,123)
Gains (losses) on forward and options on forward contracts:
Realized (167,473)
Change in unrealized 1,175,179
Interest income 7,915
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1,290,371
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Expenses:
Brokerage fee 80,957
Performance fee 0
Operating expenses 3,601
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84,558
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Net Income (Loss) - September 2009 $ 1,205,813
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FUND STATISTICS
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Net Asset Value per Unit on September 30, 2009 $ 1,555.13
Net Asset Value per Unit on August 31, 2009 $ 1,497.24
Unit Value Monthly Gain (Loss) % 3.87%
Fund 2009 calendar YTD Gain (Loss) % (4.71)%
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,
Strong Gains Posted From Currency And Equity Trading...
During the month of September, Campbell's technical and fundamental strategies
both recorded healthy gains in the Foreign Exchange sector from short positions
in the U.S. Dollar vs. most major currencies. Commodity-linked currencies were
particularly profitable for Campbell, as both the Australian and New Zealand
Dollars rose in value close to 5%.
Technical and fundamental signals were also effective in the Equities sector,
where we benefited from primarily long positions across global stock indices.
With the exception of Japan, global equities moved higher by 2 - 3% during the
month on healthy M&A activity, as well as favorable signs of a manufacturing
rebound and consumer spending renewal.
Results were mixed in Fixed Income trading as gains earned from short-term rates
were largely offset by losses on the long end of the curve. Commodities trading
resulted in marginal losses overall, primarily due to short positions in natural
gas. The price of natural gas rallied over 20% during the month as a result of
significant short covering in the market despite record storage levels.
The road to global economic recovery continues to be unpredictable and quite
bumpy as we travel it. We remain committed to maintaining a healthy yet sensible
risk appetite in our efforts to generate positive investment performance that
provides healthy diversification to your overall portfolio.
As always, please do not hesitate to call with questions.
Sincerely,
Terri Becks
President & CEO
Campbell & Company, Inc.
Managing Owner
Campbell Alternative Asset Trust