8-K

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 8 – K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported):  April 26, 2006

S&P Managed Futures Index Fund, LP
(Exact name of registrant as specified in its charter)

Delaware	000-50565	90-0080448
(State or other	(Commission	(IRS Employer
jurisdiction	File Number)	Identification
of incorporation)		Number)

c/o RefcoFund Holdings, LLC
One World Financial Center
200 Liberty Street – Tower A
New York, New York  10281

(Address of principal executive offices)

(212) 693-7000

(Registrant’s telephone number, including area code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

o  Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a- 12)
o  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange  Act (17 CFR 240.14d-2(b))
o  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 8.01. Other Events.

Current Status of Fund Operations.

As described further in the notice furnished with this form 8-K from PlusFunds Group, Inc. (“PlusFunds”), the investment manager of the SPhinX Managed Futures Fund SPC (the “SPhinX Fund”), there is a proposed settlement between the Official Committee of Unsecured Creditors of Refco, Inc. (the “Committee”) and the SPhinX Fund with respect to the preference action. Under the terms of the current draft of the settlement, the SPhinX Fund and its related entities will transfer approximately $263 million (the “Proposed Settlement Amount”) back to Refco Capital Markets, Ltd. (“RCM”), and will waive any and all claims against Refco, Inc. and RCM with respect to the Proposed Settlement Amount and the original transfer of approximately $312 million from RCM to the SPhinX Fund (the “Transfer”). Although PlusFunds estimates that approximately $46 million will be available to the SPhinX Fund for distribution to investors, investors should be aware that if the settlement is approved, the SPhinX Fund will be precluded from ever making any claim against either Refco, Inc. or RCM for the Proposed Settlement Amount or the Transfer.

While neither the SPhinX Fund nor PlusFunds have provided specific information to the Fund, it appears, based upon information currently available to the Fund, that this settlement will leave only approximately 25% of the December 16, 2005 net assets available for distribution to SPhinX Fund investors. Please be advised that there are a number of unresolved issues and the proposed settlement remains subject to final approval by the Bankruptcy Court. A hearing date on the proposed settlement has been scheduled on May 23, 2006, and any party in interest may file an objection with the Bankruptcy Court at One Bowling Green, New York, New York 10004, by 4:00 p.m. on May 17, 2006. The Fund is still reviewing the proposed settlement and its effect on the Fund.

Item 9.01. Financial Statements and Exhibits

(d)	Exhibits
	99.1	Notice to Investors dated April 26, 2006 by PlusFunds Group, Inc.

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SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

	S&P Managed Futures Index Fund, LP
	By: RefcoFund Holdings, LLC,             as General Partner
	(Registrant)
	By:      /s/ Richard C. Butt
Date: May 2, 2006	Name: Richard C. Butt
	Title: President and Manager

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EX-99.1

Exhibit 99.1

April 26, 200 6

Dear Investor,

PlusFunds Group, Inc. (the “Investment Manager”), has been informed by counsel for SPhinX Managed Futures Fund SPC (“SMFF”) that there has been a settlement in principle in Official Committee of Unsecured Creditors of Refco, Inc. et al. v. SPhinX Managed Futures Fund SPC, Bankr. S.D.N.Y. Adv. Pro. No. 05-3331 (RDD) (the “Preference Action”). According to the draft of the settlement stipulation (the “Stipulation”), the Official Committee of Unsecured Creditors of Refco, Inc., et al. (the “Creditors Committee”) agreed to compromise the Creditors Committee’s $312 million preference claim against the SPhinX Funds for $263 million, a $49 million reduction of the Creditors Committee’s claim in the Preference Action. It is expected that, as a result of the settlement, approximately $46 million of additional investor funds will no longer be subject to the Temporary Restraining Order previously entered by the Bankruptcy Court in the Preference Action. SMFF will retain its claim to the approximately $10 million of assets that remain in Refco Capital Markets Ltd. (“RCM”), and RCM will not object to the allowance of that claim. (The Stipulation does not address or affect the claim of SPhinX Special Situations Fund SPC to approximately $4 million of assets that remain in RCM.)

The settlement amount is being placed in an escrow account with Refco Capital Markets (“RCM”) pending approval by the bankruptcy court, which is required for the settlement to be effective. The Stipulation has not yet been filed, and the bankruptcy court cannot address it until 20 days after it is filed.

The Stipulation states that RCM and its debtor and non-debtor affiliates (collectively, “Refco”) will release claims that are related to the assets that are the subject of the Preference Action against the funds managed by the Investment Manager (collectively, “SPhinX”). The Stipulation further states that SPhinX will release claims against Refco, the Creditors Committee, its members and retained professional from claims that are related to the assets that are the subject of the Preference Action. SPhinX also will not file a bankruptcy proof of claim against RCM or its debtor affiliates for the settlement amount.

The SPhinX Board and their counsel will determine the economic effect of the settlement on SMFF, all shares in SPhinX Funds that have exposure to the SMFF and all “Special Situation” shares.

Sincerely yours,

PlusFunds Group, Inc.

PlusFunds Group, Inc. 1500Broadway, 11th Floor, New York, NY 10036 | T 212.653.1900 F 212.653.1970 | www.plusfunds.com