Filed Pursuant to Rule 424(b)(3)
Registration No. 333-155800

March 2011 Performance Update

The Frontier Fund Supplement Dated March 31, 2011 to Prospectus Dated April 30, 2010 and the Supplement to the Prospectus

Dated January 28, 2011.

The Frontier Fund Class 1 New

T H E    F R O N T I E R    F U N D ’ S    G O A L : To provide you – the investor – with a managed futures product that, over the long term, provides attractive returns, reduces volatility, and improves the overall performance of your investment portfolio.

March performance for the various Series of The Frontier Fund is detailed below:*

The Frontier Fund Class 1 New	March 31, 2011		March 31, 2011		NAV / Unit
		MTD		YTD
Frontier Diversified Series-1		-0.91%		2.88%		$106.56
Frontier Dynamic Series-1		-2.63%		-2.41%		$89.72
Frontier Long/Short Commodity Series-1a		0.81%		11.50%		$131.52
Frontier Masters Series-1		-1.75%		0.14%		$103.11

Additional information, including monthly rates of return, concerning the aforementioned Series and the Trading Advisor(s) is contained in the Prospectus and the respective Series Appendix to the Prospectus.

* The above table sets forth the actual performance for the Class and Series as of March 31, 2011. Actual gross trading performance (gross realized and unrealized gain/loss before deduction for trading commissions and fees, management fees, any other expense, and before addition of interest income) is adjusted for the trading expenses, management fees, initial service fees, on-going service fees, and interest income of the applicable Series.

THIS INSERT MUST BE ACCOMPANIED OR PRECEDED BY THE CURRENT PROSPECTUS OF THE FRONTIER FUND

PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS

THE FRONTIER FUND DIVERSIFIED SERIES - 1

STATEMENT OF INCOME (LOSS)

FOR THE MONTH ENDED

March 31, 2011

(Unaudited)

							Current Period
INCOME
Realized trading gain/(loss)							$	(5,677,564.37	)
Unrealized trading gain/(loss)								5,053,142.71
Less: commissions								(110,974.08	)
Less: FCM fees								(195,836.56	)
Foreign currency gain/(loss)								266,834.65
Interest income								117,449.00
Total Income								(546,948.65	)
EXPENSES
Management fees								94,015.87
Incentive fees								73,480.35
Broker service fees								165,941.83
Total Expenses								333,438.05
Net Income (Loss)							$	(880,386.70	)
STATEMENT OF CHANGES IN NET ASSET VALUE
	Units			Dollars			$’s per unit
Net Asset Value, end of prior month		903,406.70087		$	97,147,390.65			107.53
Current month additions		36,759.66884			3,913,648.08
Current month redemptions		(4,635.51269	)		(489,890.51	)
Net Income (loss) for current month					(880,386.70	)
Net Asset Value, end of current month		935,530.85702		$	99,690,761.52			106.56
		Monthly rate of return						-0.91	%

To the best of my knowledge and belief, the information

contained in this statement is accurate and complete

/s/    S. Brent Bales

S. Brent Bales, Chief Accounting Officer of the Managing Owner

Equinox Fund Management LLC

1775 Sherman Street, Suite 2500

Denver, Colorado 80203

On Behalf of the Frontier Fund - Diversified Series 1

THE FRONTIER FUND DYNAMIC SERIES - 1

STATEMENT OF INCOME (LOSS)

FOR THE MONTH ENDED

March 31, 2011

(Unaudited)

							Current Period
INCOME
Realized trading gain/(loss)							$	—
Unrealized trading gain/(loss)								(30,354.43	)
Less: commissions								—
Less: FCM fees								(2,528.55	)
Foreign currency gain/(loss)								—
Interest income								1,663.40
Total Income								(31,219.58	)
EXPENSES
Management fees								—
Incentive fees								—
Broker service fees								2,141.75
Total Expenses								2,141.75
Net Income (Loss)								$(33,361.33)
STATEMENT OF CHANGES IN NET ASSET VALUE
	Units			Dollars			$’s per unit
Net Asset Value, end of prior month		13,641.85026		$	1,256,914.37			92.14
Current month additions		232.86790			21,575.00
Current month redemptions		(126.67174	)		(11,693.27	)
Net Income (loss) for current month					(33,361.33	)
Net Asset Value, end of current month		13,748.04642		$	1,233,434.77			89.72
		Monthly rate of return						-2.63	%

To the best of my knowledge and belief, the information

contained in this statement is accurate and complete

/s/    S. Brent Bales

S. Brent Bales, Chief Accounting Officer of the Managing Owner

Equinox Fund Management LLC

1775 Sherman Street, Suite 2500

Denver, Colorado 80203

On Behalf of the Frontier Fund - Dynamic Series 1

THE FRONTIER FUND LONG/SHORT COMMODITY SERIES - 1a

STATEMENT OF INCOME (LOSS)

FOR THE MONTH ENDED

March 31, 2011

(Unaudited)

					Current Period
INCOME
Realized trading gain/(loss)					$	(627,023.29	)
Unrealized trading gain/(loss)						776,155.75
Less: commissions						(3,738.07	)
Less: FCM fees						(15,834.47	)
Foreign currency gain/(loss)						(292.96	)
Interest income						10,599.71
Total Income						139,866.67
EXPENSES
Management fees						20,137.07
Incentive fees						23,713.76
Broker service fees						13,492.55
Total Expenses						57,343.38
Net Income (Loss)						$82,523.29
STATEMENT OF CHANGES IN NET ASSET VALUE
	Units		Dollars		$’s per unit
Net Asset Value, end of prior month		57,318.46432	$	7,478,356.55		130.47
Current month additions		12,921.31127		1,677,120.59
Current month redemptions		—		—
Net Income (loss) for current month				82,523.29
Net Asset Value, end of current month		70,239.77559	$	9,238,000.43		131.52
		Monthly rate of return				0.81	%

To the best of my knowledge and belief, the information

contained in this statement is accurate and complete

/s/    S. Brent Bales

S. Brent Bales, Chief Accounting Officer of the Managing Owner

Equinox Fund Management LLC

1775 Sherman Street, Suite 2500

Denver, Colorado 80203

On Behalf of the Frontier Fund - Long/Short Commodity Series 1a

THE FRONTIER FUND MASTERS SERIES - 1

STATEMENT OF INCOME (LOSS)

FOR THE MONTH ENDED

March 31, 2011

(Unaudited)

							Current Period
INCOME
Realized trading gain/(loss)							$	(24,143.61	)
Unrealized trading gain/(loss)								(246,239.78	)
Less: commissions								(21,802.50	)
Less: FCM fees								(86,181.43	)
Foreign currency gain/(loss)								7,799.35
Interest income								47,097.00
Total Income								(323,470.97	)
EXPENSES
Management fees								358,262.42
Incentive fees								4,641.64
Broker service fees								73,042.39
Total Expenses								435,946.45
Net Income (Loss)							$	(759,417.42	)
STATEMENT OF CHANGES IN NET ASSET VALUE
	Units			Dollars			$’s per unit
Net Asset Value, end of prior month		411,324.79276		$	43,167,146.37			104.95
Current month additions		12,456.26170			1,287,191.49
Current month redemptions		(2,091.57589	)		(214,613.39	)
Net Income (loss) for current month					(759,417.42	)
Net Asset Value, end of current month		421,689.47857		$	43,480,307.05			103.11
		Monthly rate of return						-1.75	%

To the best of my knowledge and belief, the information

contained in this statement is accurate and complete

/s/    S. Brent Bales

S. Brent Bales, Chief Accounting Officer of the Managing Owner

Equinox Fund Management LLC

1775 Sherman Street, Suite 2500

Denver, Colorado 80203

On Behalf of the Frontier Fund - Masters Series 1