Accordingly, we express no such opinion. The Partnership commenced operations on December 14, 2016. The Administrator of the Partnership is Citco Fund Services (Australia) Pty. Fair market values are determined by using quoted market prices when available. The fair value measurement of these investments does not include transaction costs. ( Investment transactions are accounted for on a trade-date basis. Interest income and expense are accounted for on an accrual basis. Dividends are recognized when the right to receive the payment is established. ( As at December 31, 2019, the Partnership does not hold cash equivalents. The bank in which cash is held is an affiliate of the Administrator. ( As a result, no tax liability or expense has been recorded in the financial statements. Realized and unrealized gains and losses are included in the Statement of Operations. These estimates include those related to accruals and investment valuations. Estimates, by their nature, are based on judgement and available information. Actual results could differ from management's estimates. ( The guidance also amends disclosure requirements for the Level 3 rollforward. All other changes implemented by the ASU are applicable to public companies only. ii) In November 2016, the FASB issued ASU No. The Partnership pays the administration fee monthly in arrears. For its services, the Management Company charges the Partnership a management fee. The General Partner may, but shall not be required to, make capital contributions. b) Related party transactions Investment management transactions are disclosed in Note 6. Various inputs are used in determining the value of the Partnership's investments. 8226; Level 3 – Unobservable inputs for the valuation of the asset or liability. Level 3 assets include investments for which there is little, if any, market activity. These inputs require significant management judgment or estimation. This security was fully redeemed after lock up period amounting to $17,702,202. This security was transferred from Level 3 to Level 1 in the fair value hierarchy. & In a similar fashion, liabilities represent net amounts owed to counterparties. Similarly, liabilities represent net amounts owed to such counterparties. The Partnership may enter into various futures contracts. Management does not anticipate any loss as a result of this concentration. The above is not intended to be a comprehensive summary of all risks. The Partnership's maximum exposure under these arrangements is unknown. However, the Partnership has not had prior claims or losses pursuant to these contracts. For the year ended December 31, 2020, there was no interest or penalty incurred. ( If the difference is negative, then the buyer instead pays to the seller). t) Withdrawals In accordance with FASB Statement No. Restricted assets will be evaluated in accordance with the LPA. Performance allocation during the year ended December 31, 2020 amounted to $454,314,245. During the year, there were no transfers between levels in the fair value hierarchy. & I.,9(SVK.\\,_$\'1=:7#P[\\.(HK&??9WEF;A%B.85%NX8L,?* K7&O6OAWQ\'MNL31/^0QXD_["*?\\ I+;UMT %%%% M!1110 4444 %%%% ! P"MN4\'ID,./7-=K0!B:)_R&/$G_813_P!);MNL31/^0QXD_[" M*?\\ I+;UMT %%%% ! 1110 4444 %8MM_R.VJ?]@ZS_ /1E MS6U6+;?\\CMJG_8.L_P#T9)/ M^PBG_I+;UMT %%%% ! 1110 4444 %%%% M!6+;?\\CMJG_8.L__ $9)/\\ L(I_Z2V];= ! 6+;?\\CMJG_8.L_\\ T9MNL31/\\ D,)/^PBG_I+;UMT %%%% ! 1110 4444 %8MM_P CMJG_ &#K/_T9)/^PBG_ *2V M];= ! 6+;?\\CMJG_8
