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 November 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.
November 2000
The redemption value of Salomon Smith Barney Diversified 2000 Futures Fund L.P.
was $998.11 per unit at the end of November, up +3.5% from the previous month.
The Fund realized profits in most sectors this month, with interest rate and
energy positions leading the way. Currency, softs, and grain positions also
contributed to profits, offsetting losses in metals, livestock, and most
significantly, stock indices.
In foreign interest rate markets, positions in British and Japanese debt futures
were profitable. U.S. bonds were also profitable as prices rallied following the
release of several economic indicators pointing toward a slowdown in the U.S
economy. The protracted uncertainty over the Presidential election and a fall in
the equity markets resulted in a flight to quality, pushing bond prices higher.
On the flip side, losses were sustained from positions in U.S. equity index
positions, namely the S&P 500 and NASDAQ indices. Weaker-than-expected corporate
earnings reports contributed to choppy markets and overall poor performance.
The energy sector posted strong gains in November. Long positions in crude oil
and natural gas were the major contributors. Prices soared dramatically in
natural gas on colder weather pressuring already tight supplies.
The currency sector also recorded a profitable month reflecting the continued
strength of the U.S. dollar. Short positions in the Japanese yen and the British
pound provided the largest gains in the sector.
In agricultural commodities, profits were earned in the soybean meal market as
prices rallied sharply on news of a decision by the European Union to ban
meat-based animal feed.
As a momentous year comes to an end, managed futures programs in general appear
to be participating profitably in many financial and commodity trends. With the
equity markets volatile and bearish, we are encouraged to see managed futures
demonstrate its ability to provide valuable diversification to a balanced
investment portfolio. We look forward to continued favorable trends in December
and into the new year.
Smith Barney Futures Management LLC
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Salomon Smith Barney
Diversified 2000 Futures Fund L.P.
Account Statement
For the Period November 1,
Through November 30, 2000
Percent
of
Average
Net
Assets
Realized gains from trading $1,052,527 3.92%
Change in unrealized gains/losses
from trading 134,136 0.50
------------ ------
1,186,663 4.42
Less, Brokerage commissions
and clearing fees ($5,420) 137,811 0.51
------------ ------
Net realized and unrealized gains 1,048,852 3.91
Interest Income 111,126 0.41
------------ ------
1,159,978 4.32
Less, Expenses:
Management fees 43,409 0.16
Incentive fees 76,646 0.29
Other expenses 62,808 0.23
------------ ------
182,863 0.68
----------- ------
Net Income 977,115 3.64%
-------
Additions, (20.7424 G.P. units
at October 31, 2000 net asset
value per unit of $964.21) 20,000
Additions, (2,063.8657 L.P. units
at October 31, 2000 net asset
value per unit of $964.21) 1,990,000
Redemptions, (18.0000 L.P. units
at November 30, 2000 net asset
value per unit of $998.11) (17,966)
------------
Increase in net assets 2,969,149
Net assets, October 31, 2000 24,366,405
------------
Net assets, November 30, 2000 $27,335,554
-------------
Net asset value per unit
($27,335,554/27,978.2043 units) $977.03
-------------
Redemption value per unit (Note 1) $998.11
-------------
Note 1: For the purpose of a redemption, any accrued liability for reimbursement
of offering and organization expenses will not reduce net asset value per unit.
As a result, the reported redemption value per unit is $998.11.
The net asset value per unit of $977.03 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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