Financial Highlights for the three and six months ended June 30, 2013 and 2012 were as follows:

	For the Three Months Ended June 30,						For the Six Months Ended June 30,
	2013			2012			2013			2012
Per Unit operating performance:
Net asset value at the beginning of the period:	$	28.38		$	31.08		$	27.76		$	31.24

Interest Income		–	(3)		–	(3)		0.01			0.01
Expenses		(0.56	)		(0.62	)		(1.12	)		(1.24	)
Realized/Unrealized Income (Loss) (1)		(0.11	)		0.28			1.06			0.73
Net Loss		(0.67	)		(0.34	)		(0.05	)		(0.50	)

Net asset value, June 30:	$	27.71		$	30.74		$	27.71		$	30.74

Ratios to average net assets:
Net Investment Loss (2)		(8.0	)%		(8.0	)%		(8.0	)%		(8.0	)%
Expenses before Incentive Fees (2)		8.0	%		8.1	%		8.0	%		8.1	%
Expenses after Incentive Fees (2)		8.0	%		8.1	%		8.0	%		8.1	%
Net Income (Loss) (2)		(9.2	)%		(4.0	)%		0.3	%		(2.9	)%
Total return before incentive fees		(2.4	)%		(1.1	)%		(0.2	)%		(1.6	)%
Total return after incentive fees		(2.4	)%		(1.1	)%		(0.2	)%		(1.6	)%

(1)

Realized/Unrealized Income (Loss) is a balancing amount necessary to reconcile the change in net asset value per Unit with the other per Unit information.

(2)

Annualized (except for incentive fees, if applicable).

(3)

Amounts less than $0.005 per Unit.