Filed pursuant to Rule 424(b)(3)

Registration Statement No. 333-146177

RJO Global Trust

Supplement dated February 1, 2009 to the Prospectus and Disclosure Document

dated December 12, 2008

The following information amends the disclosure in the Prospectus and Disclosure Document dated December 12, 2008 (the “Prospectus”).  If any statement in this supplement conflicts with a statement in the Prospectus, the statement in this supplement controls.

New Trading Advisor

Effective February 1, 2009, RJO Global Trust (the “Trust”) added NuWave Investment Management, LLC (“NuWave”) as a trading advisor to the Trust.  Information regarding NuWave is provided below.  The following tables show the approximate percentage of net assets available for trading allocated to each trading advisor for the benefit of the Trust as of February 1, 2009.

Trading Advisor	Trading Program	Allocation Effective Feb. 1*
Abraham Trading, L.P.	Trading Diversified	18%
AIS Futures Management, LLC	Multi Asset Allocation Portfolio	10%
Global Advisors, L.P.	Commodity Systematic	18%
John W. Henry & Company, Inc.	Diversified Plus	18%
NuWave Investment Management, LLC	Combined Futures Portfolio (2X)	18%
Peninsula L.P.	Tactical Macro	18%

* R.J. O’Brien Fund Management, LLC, the Trust’s managing owner (the “Managing Owner”), has selected NuWave on behalf of the Trust.  Trading advisors can be added, removed or replaced at any time by the Managing Owner, without the consent of or advance notice to the unitholders of the Trust.  The asset allocation percentages above may change at any time in the future in the sole discretion of the Managing Owner.

Information about NuWave Investment Management, LLC

NuWave Investment Management, LLC, a Delaware limited liability company  ("NuWave"), is engaged in the business of providing trading advisory services to customers with respect to futures contracts, forward contracts, and other futures-related interests (collectively, "futures interest contracts") on United States and foreign exchanges and markets.  NuWave trades futures interest contracts including, but not limited to, contracts in agricultural items, energy products, financial instruments and indices, foreign currencies, and metals.  NuWave manages accounts for trading in futures interest contracts on a discretionary basis and its trading methodologies are speculative in nature.

NuWave has been registered with the Commodity Futures Trading Commission (“CFTC”) as a commodity trading advisor and as a commodity pool operator since August 29, 2006 and has been a member of the National Futures Association (“NFA”) in such capacities since August 29, 2006.

From February 1993 through August 2006, NuWave provided trading advice to its clients through its affiliate NuWave Investment Corp., a Florida corporation.  Troy W. Buckner has been the owner and President of NuWave Investment Corp. since its inception.

NuWave has three principals: Troy W. Buckner, John S. Ryan, and Yury V. Orlov.

Principals

Troy W. Bucknerhas been a principal of NuWave since August 25, 2006, and an associated person of NuWave since August 29, 2006.  Mr. Buckner has also been a principal and associated person of NuWave Investment Corp. and an associate member of the NFA since July 23, 2002.  Mr. Buckner is the Manager of NuWave and the President of NuWave Investment Corp.  Mr. Buckner is an industry veteran who began his career at Salomon Brothers, Inc. as a derivatives and portfolio sales specialist in 1986. In 1989, Mr. Buckner left Salomon Brothers to trade energy derivatives proprietarily at George E. Warren Corporation, and in 1991 started his own business to focus on the design and implementation of sophisticated trading models that would eventually support NuWave Investment Corp.  Mr. Buckner joined Classic Capital Inc. as a principal in 1994 with responsibility for the design and execution of both futures and U.S. equity investment models.  In 1995, Mr. Buckner joined Hyman Beck & Company as a principal to develop systematic, investment strategies capable of trading the world’s liquid futures and currency markets.  His extensive research into innovative, non-correlated investment programs is complemented by years of trading experience and an in-depth understanding of market theory.  From March 24, 2003 through June 26, 2007 Mr. Buckner was a principal and associated person of Mt. Kemble Futures, LLC, a registered introducing broker set up to service the needs of clients in need of a clearing relationship.  Mr. Buckner graduated Magna Cum Laude from the University of Delaware in 1984 with a double major (finance/accounting) and a minor (economics) before earning his M.B.A from the University of Chicago in 1986.

John S. Ryanhas been a principal and associated person of NuWave since August 29, 2006, and a principal and associated person of NuWave Investment Corp. since 2001.  Mr. Ryan has also been an associate member of the NFA since December 14, 2001.  Mr. Ryan began his career in 1988 at IBM, where he designed corporate networks in New York City.  Specializing in systems and communications, he implemented custom solutions for top NYC law firms and universities.  In 1993, after five years at IBM, Mr. Ryan was recruited by Hyman Beck & Company to head its technology effort, where he held the titles of Principal and Director of Technology.  He is credited with helping to build the infrastructure and research effort that was critical to Hyman Beck’s success up until the time of his departure.  Since joining NuWave Investment Corp. in March 2001 as Chief Technology Officer and Chief Operating Officer, Mr. Ryan has also been actively involved with research and development, where his programming and quantitative skills have been utilized in the design of NuWave’s trading systems and electronic trading infrastructure.  Mr. Ryan earned his B.B.A degree in Computer Information Systems from Bernard Baruch College, City University of New York.

Yury V. Orlovhas been a principal of NuWave since August 25, 2006, and an associated person of NuWave since August 29, 2006.  Dr. Orlov has also been a principal and associated person of NuWave Investment Corp. since July 19, 2005, and an associate member of the NFA since July 15, 2005.  Dr. Orlov began his professional career in 1986 at the Nuclear Physics Institute, Moscow State University where he held the title of Research Scientist until October 2003.  NuWave Investment Corp. engaged Dr. Orlov as an off-site consultant beginning in 1997, and by January 2000 he had become integral in the design of NuWave’s advanced electronic execution and modeling software.  In October 2003, Dr. Orlov moved to the United States, joining NuWave in its New Jersey offices.  Dr. Orlov’s expertise is in the area of pattern recognition, genetic algorithms, time series analysis, and programming.  He obtained his Master's Degree in Physics in 1983 and his PhD in Time Series Segmentation and Pattern Recognition, both from Moscow State University.  Dr. Orlov has authored or co-authored more than 50 publications relating to his specialties and has been published in several scientific journals.

NuWave and its principals may, from time to time, trade futures, forwards, and options contracts and securities for their own proprietary accounts.  Such trades may or may not be in accordance with the NuWave trading program described below.  It is possible that NuWave and/or its principals may from time to time be inadvertently competing with the Trust for similar futures interest contract positions in one or more markets or may take positions in their proprietary accounts which are opposite the positions taken for the Trust.  If either NuWave or its principals engage in such trading, investors will not be able to inspect such records or NuWave’s written policies related to such trading.

NuWave and its principals do not have a beneficial or ownership interest in the Trust.

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There have been no material administrative, civil or criminal proceedings against NuWave, or any of its principals, which are pending, are on appeal or have concluded at any time during the last five years.

Trading Program

NuWave is engaged in the business of providing trading advisory services to customers with respect to futures contracts, forward contracts, other futures-related interests (collectively, "futures interest contracts"), and securities traded on United States and foreign exchanges.  NuWave also manages and advises domestic and offshore private investment funds.   As of the date of this supplement, NuWave offers its clients three trading programs.  NuWave’s “Combined Futures Portfolio 2x” program is utilized in NuWave’s management of assets on behalf of the Trust.

Combined Futures Portfolio 2x Investment Methodology

NuWave’s Combined Futures Portfolio 2x program is a broadly diversified trading program designed to capture directional price movement in both bull and bear market cycles.  The Combined Futures Portfolio 2x is comprised of three systematic sub-programs called Alpha, Pattern Recognition and Beta.  Each sub-program trades in a separate timeframe (long-term, intermediate term or short-term) with exposure to 35 international markets.  Each sub-program is active in all 35 markets, where approximately 60% of market exposure is derived from financial futures (stock index, interest rate, and currency) and the remaining 40% from various commodity futures (energies, metals, grains, softs, and meats).  The Combined Futures Portfolio actively manages directional positions according to the output of proprietary pattern recognition models that identify repetitive market tendencies without relying on traditional “trend” definitions.  NuWave expects that additional markets may be traded in the future in addition to the 35 currently traded.

NuWave manages collective risk across the three futures sub-programs with a proprietary Portfolio Risk Overlay.  Although each sub-program has its own risk metrics and risk control procedures, NuWave has found it especially advantageous to manage macro level risk as well.  The benefits of a broad, systematic risk overlay become especially evident in two reoccurring scenarios:  1) when market sectors become very highly correlated, usually as a result of some international phenomena; and 2) during windows where several markets have trended significantly for extended periods of time, which may elevate the risks associated with NuWave’s market positions.

The NuWave team marries extensive trading experience with strong technical modeling capabilities to enhance its research and development process.  Risk control at both the micro and macro levels are a NuWave hallmark, allowing trading strategies in multiple timeframes to provide additional diversification.

Implementation of Trading Programs

NuWave attempts to refine its trading systems over time as part of an ongoing research and development effort.  Additional trading systems may be developed by the principals of NuWave and may be employed in trading accounts managed by NuWave, including those, such as the Trust, exposed to the NuWave Combined Futures Portfolio 2x program.  The principals of NuWave review and maintain discretion over all aspects of NuWave’s computer generated trading methodologies.

Although technical trading systems are typically structured, highly disciplined by nature, and  applied with significant use of computers, such systems still require certain subjective judgments and decisions.  For example, NuWave must identify certain market patterns that will act as input to the trading models.  NuWave must select the contracts and markets which will be traded and the contract months in which positions will be maintained.  NuWave will also determine when to roll over a position (i.e., liquidate a position which is about to expire and initiate a new position in a more distant contract month).  Such decisions require consideration of, among other things, the volatility of a particular market, the pattern of price movements (both interday and intraday), open interest, trading volume, changes in spread relationships between various contract months and between various contracts and overall portfolio balance and risk exposure.  With respect to the timing and execution of trades, NuWave must make decisions that it believes will minimize market impact.  No assurance can be made that consideration will be given to any or all of the foregoing factors by NuWave with respect to every trade for the Trust or that consideration of any of such factors in a particular situation will lessen the Trust’s risk of loss.  Such decisions may involve a substantial element of judgment

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and the unavailability of NuWave to make such decisions could materially impair the operation of the technical trading approach.

Leverage and Risk Management

In addition to the subjective decision making authority reserved for its principals, NuWave also maintains certain risk management procedures for determining the appropriate quantity of contracts to be traded for an account of a given size and for all accounts. NuWave may adjust its trading portfolios and the position size of an order prior to placement, and/or after the initial position is established, based on such factors as past market volatility, prices of commodities, amount of risk, potential return and margin requirements.  The decision not to trade a certain futures interest at certain times or to reduce the number of contracts traded in a particular futures interest may result in missing significant profit opportunities that otherwise might have been captured if NuWave depended solely on the computer-based aspects of its trading strategy or on different trading strategies altogether.

NuWave may, at its discretion, adjust leverage in certain markets or entire portfolios.  Adjustments to certain positions or entire portfolios for leverage may positively or negatively affect performance.  In addition, if an adjustment is made to one trading portfolio it is not necessarily made to all portfolios.  Factors which may affect the decision to adjust leverage include research, portfolio diversification, current market volatility, risk exposure, subjective judgment, and evaluation of other general market conditions.  No assurance is given that such leverage adjustments will be financially beneficial, and such leverage adjustments may actually result in lost opportunities or substantial losses.

New client accounts such as the Trust may encounter certain risks related to the initial investment of assets during account start-up periods.  For example, during an account’s start-up period, the level of diversification may be lower than a previously existing account with a fully committed and diversified portfolio.  Also, a new account may commence trading in markets which have experienced price movement in the account’s favor but then subsequently retrace.

Since NuWave considers preservation of initial assets paramount to producing trading results, NuWave employs risk management techniques in an effort to reduce risk. These techniques include attempts to trade multiple uncorrelated markets in an effort to diversify as well as to limit the equity committed to each market and market sector.  In addition, NuWave prefers to initiate new client accounts following periods of negative performance in order to protect initial capital.  No assurance can be given that such techniques will be financially beneficial, and such techniques may actually result in lost opportunities or substantial losses.

The potential for profit, and associated risks, for the Trust’s account at different times, and for different client accounts at the same time, may vary significantly according to factors including, but not limited to, NuWave markets traded, market conditions, the size of the given account, the brokerage commissions charged, the management and incentive fees charged, the contracts, if any, excluded by the client, and the account commencement date. Accordingly, no client should expect the same performance results as any other account or the composite performance presented herein.

NuWave, at its discretion and according to its research, may add to or delete from the markets traded in each portfolio.  The actual portfolio balance and number of markets traded may depend, in part, on the size of the Trust’s account.

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CAPSULE A

NuWave Investment Management LLC Combined Futures Portfolio 2x Past Performance

Set forth in the following capsule is the past performance of NuWave Combined Futures Portfolio 2x from January 2004 through December 2008 for 51 accounts.  Returns prior to February 2005 are pro forma composite returns representing NuWave managed accounts and are net of 0% management and 25% incentive fees.

You are cautioned that the information set forth in the following capsule summary is not necessarily indicative of, and may have no bearing on, any trading results that may be attained by NuWave on behalf of the Trust in the future.  Past performance is not indicative of future results.  There can be no assurance that the Trust will make any profits at all, or will be able to avoid incurring substantial losses.  The results in the following summary are unaudited.

Name of Commodity Trading Advisor: NuWave Investment Management, LLC

Name of Program: Combined Futures Portfolio 2x

Inception of trading by CTA: May 2001

Inception of trading in program: February 2005

Number of open accounts: 28

Aggregate assets overall as of December 31, 2008:

Excluding “notional” equity: $55,147,490

Including “notional” equity: $424,153,410

Aggregate assets in program as of December 31, 2008:

Excluding “notional” equity: $55,147,490

Including “notional” equity: $314,277,167

Worst monthly Composite drawdown since inception:  (11.72%) August 2007

Worst peak-to-valley Composite drawdown since inception:  (13.91%) June 2007 – August 2007

2008 annual return: 51.50%

2007 annual return: -0.12%

2006 annual return: 11.87%

2005 annual return: 14.64%

2004 annual return: 25.24%

Actual Trading Performance: January 1, 2004 – December 31, 2008

MONTH	2008 (%)		2007 (%)		2006 (%)		2005 (%)		2004 (%)
January		3.06		0.93		2.89		-2.67		4.68
February		4.35		-2.83		-3.50		-0.48		5.03
March		1.15		-1.95		0.85		1.10		-0.94
April		-5.75		2.39		3.23		-4.93		-4.33
May		-4.50		0.34		0.99		4.15		-0.26
June		-3.04		5.52		-1.18		3.98		1.91
July		8.73		-2.48		-1.53		3.81		-2.93
August		10.12		-11.72		2.68		6.80		0.29
September		10.90		2.44		1.92		2.59		2.42
October		17.21		2.80		1.44		-7.18		4.47
November		2.57		3.04		-0.95		5.06		10.54
December		0.24		2.57		4.74		2.51		2.69
Annual Return		51.50		-0.12		11.87		14.64		25.24

*Drawdown is the largest percentage decline experienced in the relevant program on a composite basis over a specified period of time.

**Monthly returns in the table above are presented net of 0% management and 25% quarterly incentive fees from January 2004  to January 2005 and 1% management and 20% quarterly incentive fee from February 2005 to present.

PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS

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Notes to Performance Information:

In reviewing the descriptions of NuWave’s performance information, prospective investors should understand that monthly returns in the table above are presented net of 0% management and 25% quarterly incentive fees from January 2004  to January 2005 and 1% management and 20% quarterly incentive fee from February 2005 to present.  Beginning in January 2006 actual individual accounts interest income is included in the calculation of monthly rates of return   Fees that deviate from these levels will cause performance to deviate from that depicted above.  Composite performance is not necessarily indicative of any individual account.

1. From February 1993 through August 2006, NuWave provided trading advice to its clients through its affiliate NuWave Investment Corp., a Florida corporation.  Troy W. Buckner has been the owner and President of NuWave Investment Corp. since its inception.

2. Combined Futures Portfolio 2x is the name of the trading program used by NuWave in directing the accounts included in the performance summary.

3. “Inception of trading by CTA” is the date on which NuWave began directing client accounts.

4. “Inception of trading in program” is the date on which NuWave began directing client accounts pursuant to the Combined Futures Portfolio 2x program shown in the performance summary.

5. “Number of open accounts” is the number of accounts directed by NuWave pursuant to the Combined Futures Portfolio 2x program through December 31, 2008.

6. “Aggregate assets overall” is the aggregate amount of actual assets under the management of NuWave in all programs operated by NuWave through December 31, 2008.

7. “Aggregate assets in program” is the aggregate amount of total equity, including “notional” equity, under the management of NuWave in the Combined Futures Portfolio 2x program through December 31, 2008.

8. “Worst monthly drawdown” is the largest monthly percentage loss experienced by any account of NuWave in the Combined Futures Portfolio 2x program in any calendar month since either January 2004 or the date of inception and ending December 31, 2008.  “Loss” for these purposes is calculated on the basis of the loss experienced by each such account, expressed as a percentage of the total equity (including “notional” equity) of such account.  

9. “Worst peak-to-valley drawdown” is the largest percentage decline (after eliminating the effect of additions and withdrawals) experienced by any account of NuWave in the Combined Futures Portfolio 2x program since either January 2004 or the date of inception and ending December 31, 2008 from any month-end net asset value, without such month-end net asset value being equaled or exceeded as of a subsequent month-end. Worst peak-to-valley drawdown is calculated on the basis of the loss experienced by each such account in the relevant program, expressed as a percentage of the total equity (including “notional” equity) in such account.

10. “Annual return” is calculated by multiplying on a compound basis each monthly rate of return and not by adding or averaging such monthly rates of return. For periods of less than one year, the results are for the period indicated.

11. Returns prior to Sept. 1, 2006 were generated under the Trading Advisor heading of NuWave Investment Corp.

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Hypothetical Performance Information

The hypothetical performance information on page 101 of the prospectus is replaced with the chart below.  You should refer to the legends and material assumptions on page 100 as well as the footnotes on page 101 of the prospectus with respect to this information.  The chart below represents hypothetical composite performance information of the Trust as if each of the six current trading advisors (listed on page 1 of this supplement) traded the assets of the Trust over the period from January 1, 2004 through December 2008.

RJO GLOBAL TRUST

January 1, 2004 – December 31, 2008

Worst Monthly Decline since January 1, 2004 (Month/Year): (5.52%) (4/04)

Worst Peak-to-Valley Decline since January 1, 2004 (Month/Year):  (8.91%) (3/04 – 8/04)

Monthly Rate of Return	2008			2007			2006			2005			2004
January		5.43	%		(0.28	)%		3.38	%		(2.28	)%		2.10	%
February		8.63			(0.20	)		(2.92	)		0.05			5.30
March		0.15			(0.41	)		4.14			0.68			1.81
April		(1.13	)		2.22			6.46			(3.95	)		(5.52	)
May		1.03			0.36			(0.25	)		2.30			(1.05	)
June		4.00			2.38			(2.48	)		2.20			(1.04	)
July		(4.33	)		(2.17	)		(1.51	)		(1.77	)		1.44
August		(1.00	)		(3.81	)		0.17			7.08			(2.94	)
September		3.05			6.42			(0.71	)		1.11			3.89
October		5.76			3.57			3.04			(4.13	)		4.17
November		0.20			1.06			2.22			4.94			3.47
December		0.21			3.44			(1.26	)		2.24			(1.78	)
Compound Annual Rate of Return		23.49	%		12.87	%		10.26	%		8.11	%		9.67	%

PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS

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