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

December 2011 Performance Update

The Frontier Fund Supplement Dated December 31, 2011 to Prospectus Dated April 30, 2011.

The Frontier Fund Class 2 New

T H E   F RO 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.

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

The Frontier Fund Class 2 New	December 31, 2011 MTD	December 31, 2011 YTD	NAV/Unit
Frontier Diversified Series-2	-0.08%	-2.35%	$	103.96
Frontier Long/Short Commodity Series-2a	-0.40%	5.00%	$	127.23
Frontier Masters Series-2	1.80%	-0.92%	$	104.83

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 December 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 - 2

STATEMENT OF INCOME (LOSS)

FOR THE MONTH ENDED

December 31, 2011

(Unaudited)

	Current Period
INCOME
Realized trading gain/(loss)	$	(1,713,015.00	)
Unrealized trading gain/(loss)		1,920,925.73
Less: commissions		(65,054.72	)
Less: FCM fees		(119,835.32	)
Foreign currency gain/(loss)		(109,712.44	)
Interest income		97,088.95
Total Income		10,397.20
EXPENSES
Management fees		80,276.02
Incentive fees		(34,181.20	)
Broker service fees		12,702.24
Total Expenses		58,797.06
Net Income (Loss)	$	(48,399.86	)

	Units			Dollars			$’s per unit
STATEMENT OF CHANGES IN NET ASSET VALUE
Net Asset Value, end of prior month		595,496.08206		$	61,955,966.47			104.04
Current month additions		2,539.09927			263,500.00
Current month redemptions		(5,998.58639	)		(622,368.68	)
Net Income (loss) for current month					(48,399.86	)
Net Asset Value, end of current month		592,036.59494		$	61,548,697.93			103.96
		Monthly rate of return						-0.08	%

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 2

THE FRONTIER FUND LONG/SHORT COMMODITY SERIES - 2a

STATEMENT OF INCOME (LOSS)

FOR THE MONTH ENDED

December 31, 2011

(Unaudited)

	Current Period
INCOME
Realized trading gain/(loss)	$	116,467.53
Unrealized trading gain/(loss)		(102,038.65	)
Less: commissions		(5,409.66	)
Less: FCM fees		(20,171.61	)
Foreign currency gain/(loss)		412.44
Interest income		17,686.76
Total Income		6,946.81
EXPENSES
Management fees		29,517.67
Incentive fees		18,036.80
Broker service fee		2,151.67
Total Expenses		49,706.14
Net Income (Loss)	$	(42,759.33	)

	Units			Dollars			$’s per unit
STATEMENT OF CHANGES IN NET ASSET VALUE
Net Asset Value, end of prior month		79,953.43867		$	10,213,601.91			127.74
Current month additions		6,281.62300			801,000.00
		(475.11942	)		(60,378.75	)
Net Income (loss) for current month					(42,759.33	)
Net Asset Value, end of current month		85,759.94225		$	10,911,463.83			127.23
		Monthly rate of return						-0.40	%

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 2a

THE FRONTIER FUND MASTERS SERIES - 2

STATEMENT OF INCOME (LOSS)

FOR THE MONTH ENDED

December 31, 2011

(Unaudited)

	Current Period
INCOME
Realized trading gain/(loss)	$	(511,975.36	)
Unrealized trading gain/(loss)		903,294.80
Less: commissions		(8,648.58	)
Less: FCM fees		(35,990.49	)
Foreign currency gain/(loss)		(4,646.45	)
Interest income		32,314.89
Total Income		374,348.81
EXPENSES
Management fees		40,180.58
Incentive fees		—
Broker Service Fees		3,815.02
Total Expenses		43,995.60
Net Income (Loss)	$	330,353.21

	Units			Dollars			$’s per unit
STATEMENT OF CHANGES IN NET ASSET VALUE
Net Asset Value, end of prior month		178,336.16096		$	18,364,803.01			102.98
Current month additions		1,242.47636			130,000.00
Current month redemptions		(868.73117	)		(90,295.32	)
Net Income (loss) for current month					330,353.21
Net Asset Value, end of current month		178,709.90615		$	18,734,860.90			104.83
		Monthly rate of return						1.80	%

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 2

THE FRONTIER FUND DIVERSIFIED SERIES

STATEMENT OF INCOME (LOSS)

FOR THE MONTH ENDED

December 31, 2011

(Unaudited)

	Current Period
INCOME
Realized trading gain/(loss)	$	(3,724,741.50	)
Unrealized trading gain/(loss)		4,178,715.79
Less: commissions		(141,344.87	)
Less: FCM fees		(260,365.13	)
Foreign currency gain/(loss)		(238,534.68	)
Interest income		210,965.31
Total Income		24,694.92
EXPENSES
Management fees		174,416.59
Incentive fees		(74,525.11	)
Broker service fees		131,868.45
Total Expenses		231,759.93
Net Income (Loss)	$	(207,065.01	)

	Units			Dollars			*Aggregate Unit Value $’s per unit
STATEMENT OF CHANGES IN NET ASSET VALUE
Net Asset Value, end of prior month		1,320,171.88810		$	134,145,489.60			101.61
Current month additions		11,009.05809			1,106,924.50
Current month redemptions		(10,499.20476	)		(1,071,745.48	)
Net Income (loss) for current month					(207,065.01	)
Net Asset Value, end of current month		1,320,681.74143		$	133,973,603.61			101.44
		Monthly rate of return						-0.17	%

* Please see your specific Class Statement of Income (Loss) for your unit value.

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

THE FRONTIER FUND LONG/SHORT COMMODITY SERIES

STATEMENT OF INCOME (LOSS)

FOR THE MONTH ENDED

December 31, 2011

(Unaudited)

	Current Period
INCOME
Realized trading gain/(loss)	$	805,314.86
Unrealized trading gain/(loss)		(702,375.56	)
Less: commissions		(36,691.46	)
Less: FCM fees		(80,896.25	)
Foreign currency gain/(loss)		2,786.09
Interest income		119,080.30
Total Income		107,217.98
EXPENSES
Management fees		275,539.49
Incentive fees		122,785.66
Broker service fees		47,319.27
Total Expenses		445,644.42
Net Income (Loss)	$	(338,426.44	)

	Units			Dollars			*Aggregate Unit Value $’s per unit
STATEMENT OF CHANGES IN NET ASSET VALUE
Net Asset Value, end of prior month		492,995.04566		$	70,192,109.35			142.38
Current month additions		35,199.93948			5,091,016.93
Current month redemptions		(28,228.50835	)		(3,983,972.90	)
Net Income (loss) for current month					(338,426.44	)
Net Asset Value, end of current month		499,966.47679		$	70,960,726.94			141.93
		Monthly rate of return						-0.31	%

* Please see your specific Class Statement of Income (Loss) for your unit value.

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

THE FRONTIER FUND MASTERS SERIES

STATEMENT OF INCOME (LOSS)

FOR THE MONTH ENDED

December 31, 2011

(Unaudited)

	Current Period
INCOME
Realized trading gain/(loss)	$	(1,446,543.65	)
Unrealized trading gain/(loss)		2,555,858.35
Less: commissions		(24,497.66	)
Less: FCM fees		(101,865.36	)
Foreign currency gain/(loss)		(13,146.44	)
Interest income		91,445.29
Total Income		1,061,250.53
EXPENSES
Management fees		113,725.67
Incentive fees		—
Broker service fees		59,677.12
Total Expenses		173,402.79
Net Income (Loss)	$	887,847.74

	Units			Dollars			*Aggregate Unit Value $’s per unit
STATEMENT OF CHANGES IN NET ASSET VALUE
Net Asset Value, end of prior month		522,863.41736		$	52,341,120.86			100.10
Current month additions		8,513.40234			853,487.10
Current month redemptions		(12,614.84383	)		(1,257,459.28	)
Net Income (loss) for current month					887,847.74
Net Asset Value, end of current month		518,761.97587		$	52,824,996.42			101.83
		Monthly rate of return						1.72	%

* Please see your specific Class Statement of Income (Loss) for your unit value.

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