2. Significant Accounting Policies: Fair Value Measurement and Disclosures, Policy (Policies)

3 Months Ended

Mar. 31, 2013

Policies

Fair Value Measurement and Disclosures, Policy

Fair Value Measurement and Disclosures - Accounting Standards Codification ("ASC") 820 establishes a fair value hierarchy which prioritizes the inputs to valuation techniques used to measure fair value into three broad levels.  The fair value hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements).

Level 1 inputs are unadjusted quoted prices in active markets for identical assets or liabilities that the Fund has the ability to access at the measurement date. 

Level 2 inputs are inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly.

Level 3 inputs are unobservable inputs for an asset or liability, including the Fund’s own assumptions used in determining the fair value of investments.  Unobservable inputs shall be used to measure fair value to the extent that observable inputs are not available, thereby allowing for situations in which there is little, if any, market activity for the asset or liability at the measurement date.  As of and for the three months ended March 31, 2013 and the year ended December 31, 2012, the Fund did not have any Level 3 assets or liabilities.

Derivative financial instruments, such as futures contracts, which are listed on a national exchange, are valued based on quoted prices from the exchange. To the extent these financial instruments are actively traded, and valuation adjustments are not applied, they are categorized in Level 1 of the fair value hierarchy.

U.S. Treasury bills are valued at amortized cost, which management has determined approximates fair value.

The following table sets forth by level within the fair value hierarchy the Fund’s investments accounted for at fair value on a recurring basis as of March 31, 2013 and December 31, 2012.

Fair Value at March 31, 2013
Description	Level 1	Level 2	Level 3	Total
Exchange Traded - Futures Contracts	$ 102,690	$ -	$ -	$ 102,690
Total	$ 102,690	$ -	$ -	$ 102,690

Fair Value at December 31, 2012
Description	Level 1	Level 2	Level 3	Total
U.S. Treasury Bills	$ -	$ 1,999,905	$ -	$ 1,999,905
Exchange Traded - Futures Contracts	221,007	-	-	221,007
Total	$ 221,007	$ 1,999,905	$ -	$ 2,220,912