Smith Barney Futures Management LLC
388 Greenwich Street 7th Fl
New York, NY 10013
By Edgar
Securities and Exchange Commission
450 Fifth Street N.W.
Washington, D.C. 20549
Re: Salomon Smith Barney Diversified 2000 Futures Fund L.P.
Supplement to Registration Statement on Form S-1
File No. 333-87663
Ladies and Gentlemen:
On Behalf of Salomon Smith Barney Diversified 2000 Futures Fund L.P. (the
"Partnership") I am transmitting herewith for filing, pursuant to Rule 424 (b)
(3) of the Securities Act 0f 1933, as amended, a Supplement dated June 30, 2000
to the Partnership's final prospectus dated January 31, 2000.
Should you have any questions, please telephone me at 212-723-5424.
Very truly yours,
/s/ Daniel A. Dantuono
Daniel A. Dantuono
Chief Financial Officer and
Director
Enclosures
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Salomon Smith Barney
Diversified 2000 Futures Fund L.P.
June 2000
The redemption value per unit for the Salomon Smith Barney Diversified 2000
Futures Fund L.P. was $980.56 per unit at the end of June.
The Fund started trading under a period of sideways conditions in many market
sectors. Gains made in energy, grain, and softs trading were not enough to
offset losses in the currency, interest rate, and metal sectors.
On the positive side, profits were earned in the energy complex as crude prices
remained high. Recent strong trends persisted in light of several factors
including a strong summer driving season, a drawdown in U.S. crude oil
inventories, and OPEC announcement of lower-than-expected production increases.
Corn prices declined on forecasts of favorable weather conditions and
expectations of above average yields. Additional profits were also gained on
sugar and coffee positions, and from trading in global stock indices was also
profitable particularly positions in the Nasdaq 100 index as high-tech stocks
showed some signs of a recovery.
The U.S. dollar fell in response to an unexpected rise in the U.S. unemployment
rate, which indicated a weakening U.S. economy and contributed to the Fund's
losses in a number of ways. Short gold positions suffered from this news as well
as 3-Month Eurodollar futures. Most significantly however, a broad range of
currency positions suffered from the dollar's decline, including the Canadian
dollar, Swiss Franc, Japanese Yen, British Pound, and Australian and New Zealand
dollars. As it appeared more likely that the Federal Reserve would not raise
interest rates at its June meeting, U.S. currency selling accelerated on the
heels of solid European economic data and subsequent speculation that the
European Central Bank would move to raise interest rates.
Smith Barney Futures Management LLC
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Salomon Smith Barney
Diversified 2000 Futures Fund L.P.
Account Statement
For the Period June 1,
Through June 30, 2000
Percent
of
Average
Net
Assets
Realized losses from trading $ (431,203) (2.82)%
Change in unrealized gains/losses
from trading 224,579 1.47
------------ ------
(206,624) (1.35)
Add, Brokerage commissions
and clearing fees ($3,866) 78,756 0.51
------------ ------
Net realized and unrealized losses (285,380) (1.86)
Interest Income 52,909 0.35
------------ ------
(232,471) (1.51)
Less, Expenses:
Management fees 24,148 0.16
Other expenses 32,856 0.22
------------ ------
57,004 0.38
------------ ------
Net Loss (289,475) (1.89)%
------
Net assets, June 1, 2000 (Note 1) 15,459,000
-----------
Net assets, June 30, 2000 $ 15,169,525
-----------
Net Asset Value per unit
($15,169,525/16,209 units) $ 935.87
---------
Redemption value per unit (Note 2) $ 980.56
---------
Note 1: Net Assets at June 1,
2000, the date the Fund
commenced trading
operations, consisted of:
Limited Partners' Contributions $ 16,047,000
General Partner Contribution 162,000
Offering and Organizational Expenses (750,000)
------------
$ 15,459,000
------------
Note 2: For the purpose of a redemption, any accrued liability for reimbursement
of offering and organizational expenses will not reduce net asset value per
unit. As a result, the reported redemption value per unit is $980.56.
The net asset value per unit of $935.87 is reflective of charging offering and
organizational expenses against the initial capital of the fund and is reported
for financial reporting purposes only.
To the best of the knowledge and belief of the undersigned, the information
contained herein is accurate and complete.
By: /s/ Daniel A. Dantuono
Daniel A. Dantuono,
Chief Financial Officer
Smith Barney Futures Management LLC
General Partner, Salomon Smith Barney
Diversified 2000 Futures Fund L.P.
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