|
|
|
|
|
|
|
|
|
|
Previous: PARKER & PARSLEY 86-C LTD, 10-Q, 1995-05-11 |
Next: FORTIS SERIES FUND INC, DEF 14A, 1995-05-11 |
<PAGE> 1
FORM 10-Q
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
[X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
For the quarterly period ended March 31, 1995
OR
[ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
For the transition period from _______________to_______________
Commission file number 33-3514
THE FUTURES DIMENSION FUND
(Exact name of registrant as specified in its charter)
Illinois # 36-3428400
(State or other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification No.)
c/o Heinold Asset Management, Inc.
One Financial Place
440 S. LaSalle - 20th Floor
Chicago, Illinois
(Address of principal executive offices)
60605
(Zip Code)
(312) 663-7900
(Registrant's telephone number, including area code)
Same
(Former name, former address and former fiscal year, if changed since last
report)
Indicate by check mark whether the registrant (1) has filed all reports
required to be filed by Section 13 or 15(d) of the Securities Exchange Act of
1934 during the preceding 12 months (or for such shorter period that the
registrant was required to file such reports), and (2) has been subject to such
filing requirements for the past 90 days.
Yes X No
<PAGE> 2
PART I. FINANCIAL INFORMATION
ITEM I. FINANCIAL STATEMENTS
THE FUTURES DIMENSION FUND
(An Illinois Limited Partnership)
STATEMENTS OF FINANCIAL CONDITION
<TABLE>
<CAPTION>
MARCH 31, 1995 DECEMBER 31,
ASSETS: (UNAUDITED) 1994
-------------- -------------
<S> <C> <C>
CASH $ 0 $ 23,013
EQUITY IN FUTURES AND FORWARD ----------- -----------
TRADING ACCOUNTS:
UNITED STATES TREASURY SECURITIES, AT
COST PLUS ACCRUED INTEREST WHICH
APPROXIMATES MARKET 0 0
NET UNREALIZED APPRECIATION ON
OPEN FUTURES AND FORWARD CONTRACTS 420,187 719,050
AMOUNT DUE FROM (TO) BROKER 6,778,826 6,627,591
----------- -----------
7,199,013 7,346,641
----------- -----------
TOTAL ASSETS $ 7,199,013 $ 7,369,654
LIABILITIES & PARTNERS' CAPITAL: =========== ===========
ACCRUED BROKERAGE COMMISSIONS PAYABLE $ 40,454 $ 62,450
REDEMPTION PAYABLE 70,750 45,058
ACCRUED MANAGEMENT FEE 8,045 11,165
ACCRUED INCENTIVE FEE 899 22,959
OTHER ACCRUED EXPENSES 7,484 6,078
----------- -----------
TOTAL LIABILITIES 127,632 147,710
----------- -----------
PARTNERS' CAPITAL:
GENERAL PARTNER, 611 UNIT EQUIVALENTS
OUTSTANDING AT MARCH 31, 1995 AND
DECEMBER 31, 1994 RESPECTIVELY 110,842 110,121
LIMITED PARTNERS, 38,369 AND 39,459 UNITS
OUTSTANDING AT MARCH 31, 1995 AND
DECEMBER 31, 1994 RESPECTIVELY 6,960,539 7,111,823
----------- -----------
TOTAL PARTNERS' CAPITAL 7,071,381 7,221,944
----------- -----------
$ 7,199,013 $ 7,369,654
=========== ===========
NET ASSET VALUE PER OUTSTANDING UNIT OF
PARTNERSHIP INTEREST $ 181.41 $ 180.23
=========== ===========
</TABLE>
THE ACCOMPANYING NOTES ARE AN INTEGRAL
PART OF THE FINANCIAL STATEMENTS.
-2-
<PAGE> 3
THE FUTURES DIMENSION FUND
(An Illinois Limited Partnership)
STATEMENTS OF PARTNERS' CAPITAL
FOR THE THREE MONTHS ENDED MARCH 31, 1995 (UNAUDITED)
<TABLE>
<CAPTION>
LIMITED GENERAL
PARTNERS PARTNERS TOTAL
---------------- ------------------- ------------------
<S> <C> <C> <C>
FUND EQUITY AT DECEMBER 31, 1994 $ 7,111,823 $ 110,121 $ 7,221,944
(39,459 LIMITED PARTNERSHIP UNITS)
REDEMPTION OF 1,090 LIMITED
PARTNERSHIP UNITS (196,273) (196,273)
NET GAIN IN FUND EQUITY
FROM OPERATIONS 44,989 721 45,710
---------------- ------------------- ------------------
FUND EQUITY AT MARCH 31, 1995 $ 6,960,539 $ 110,842 $ 7,071,381
(38,369 LIMITED PARTNERSHIP UNITS) ================ =================== ==================
NET ASSET VALUE PER UNIT AT
MARCH 31, 1995: $ 181.41
==================
</TABLE>
THE ACCOMPANYING NOTES ARE AN INTEGRAL
PART OF THE FINANCIAL STATEMENTS.
-3-
<PAGE> 4
THE FUTURES DIMENSION FUND
(An Illinois Limited Partnership)
STATEMENTS OF OPERATIONS
FOR THE THREE MONTHS ENDED MARCH 31, 1995 AND 1994 (UNAUDITED)
<TABLE>
<CAPTION>
REVENUES: 1995 1994
-------------- ---------------
<S> <C> <C>
NET REALIZED TRADING GAINS (LOSSES) ON CLOSED
FUTURES AND FORWARD CONTRACTS $ 518,718 $ 257,919
INCREASE (DECREASE) IN NET UNREALIZED APPRECIATION
ON OPEN FUTURES AND FORWARD CONTRACTS (298,864) (1,003,732)
INTEREST INCOME 85,175 55,180
-------------- ---------------
305,029 (690,633)
-------------- ---------------
EXPENSES:
BROKERAGE COMMISSIONS 161,912 175,993
MANAGEMENT FEE 30,593 85,130
INCENTIVE FEE 56,414 7,694
OTHER ADMINISTRATIVE EXPENSES 10,400 8,904
-------------- ---------------
259,319 277,721
-------------- ---------------
NET INCOME (LOSS) $ 45,710 $ (968,354)
============== ===============
NET INCOME (LOSS) ALLOCATED TO
GENERAL PARTNER $ 721 $ (23,454)
============== ===============
NET INCOME (LOSS) ALLOCATED TO
LIMITED PARTNER $ 44,989 $ (944,900)
============== ===============
INCREASE (DECREASE) IN NET ASSET VALUE FOR A
UNIT OUTSTANDING THROUGHOUT EACH PERIOD $ 1.18 $ (21.11)
============== ===============
</TABLE>
THE ACCOMPANYING NOTES ARE AN INTEGRAL
PART OF THE FINANCIAL STATEMENTS.
-4-
<PAGE> 5
THE FUTURES DIMENSION FUND
(An Illinois Limited Partnership)
STATEMENTS OF CASH FLOWS
FOR THE THREE MONTHS ENDED MARCH 31, 1995 AND 1994 (UNAUDITED)
<TABLE>
<CAPTION>
1995 1994
--------------------- ------------------
<S> <C> <C>
CASH FLOWS FROM OPERATING ACTIVITIES:
NET INCOME (LOSS) $ 45,710 $ (968,354)
ADJUSTMENTS TO RECONCILE NET INCOME (LOSS)
TO NET CASH FLOWS FROM OPERATING
ACTIVITIES:
DECREASE (INCREASE) IN EQUITY IN
FUTURES AND FORWARD TRADING ACCOUNTS 147,628 1,447,247
(DECREASE) INCREASE IN ACCRUED EXPENSES (20,078) (280,276)
--------------------- -----------------
NET CASH FLOWS FROM OPERATING ACTIVITIES 173,260 198,617
CASH FLOWS FROM FINANCING ACTIVITIES:
REDEMPTION OF LIMITED AND GENERAL PARTNERSHIP
UNITS AND UNIT EQUIVALENTS (196,273) (198,617)
--------------------- -----------------
NET CHANGE IN CASH (23,013) 0
CASH - BEGINNING OF YEAR 23,013 23,013
--------------------- -----------------
CASH - END OF YEAR $ 0 $ 23,013
==================== ==================
</TABLE>
THE ACCOMPANYING NOTES ARE AN INTEGRAL
PART OF THE FINANCIAL STATEMENTS.
-5-
<PAGE> 6
FUTURES DIMENSION FUND
(An Illinois Limited Partnership)
NOTES TO FORM 10-Q FINANCIAL STATEMENTS
1. The financial information included herein, other than the condensed
Statement of Financial Condition as of December 31, 1994, has been prepared by
management without audit by Independent Certified Public Accountants. The
condensed Statement of Financial Condition as of March 31, 1995 has been
derived from the audited financial statements as of December 31, 1994. The
interim financial statements do not include all the disclosures contained in
the annual financial statements. The information furnished includes all
adjustments which are, in the opinion of management, necessary for a fair
statement of results for the interim periods. The results of operations as
presented, however, should not be considered indicative of the results to be
expected for the entire year.
-6-
<PAGE> 7
FUTURES DIMENSION FUND
(An Illinois Limited Partnership)
NOTES TO FINANCIAL STATEMENTS, Continued
ITEM 2, Management's Discussion and Analysis of Financial
Condition and Operating Results for the three months
ended March 31, 1995.
<TABLE>
<CAPTION>
March 31, 1995 December 31, 1994
<S> <C> <C> <C>
Ending Equity (Note A) $7,071,381 $7,221,944
</TABLE>
NOTE A:
Ending equity at March 31, 1995 is lower than ending equity at December
31, 1994 due to the redemption of limited partnership units.
<TABLE>
<CAPTION>
Three months ended Three months ended
March 31, 1995 March 31, 1994
<S> <C> <C>
Net realized trading
gains (losses) on closed
futures and forward
contracts (Note B) $518,718 $257,919
</TABLE>
NOTE B:
Net realized trading gains (losses) on closed futures and forward
contracts for the three months ended March 31, 1995 is higher than net realized
trading gains (losses) on closed futures and forward contracts for the three
months ended March 31, 1994 due to more profitable trading during the period.
-7-
<PAGE> 8
EXHIBITS
EX-27 Financial Data Schedule
PART II
None
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
THE FUTURES DIMENSION FUND
(Registrant)
By Heinold Asset Management, Inc.
(General Partner)
By
Robert Ledvora
Executive Vice President
and Chief Financial Officer
<TABLE> <S> <C>
<ARTICLE> BD
<S> <C> <C>
<PERIOD-TYPE> 3-MOS 3-MOS
<FISCAL-YEAR-END> DEC-31-1994 DEC-31-1993
<PERIOD-START> DEC-31-1994 DEC-31-1993
<PERIOD-END> MAR-31-1995 MAR-31-1994
<CASH> 6,778,826 6,650,604
<RECEIVABLES> 420,187 719,050
<SECURITIES-RESALE> 0 0
<SECURITIES-BORROWED> 0 0
<INSTRUMENTS-OWNED> 0 0
<PP&E> 0 0
<TOTAL-ASSETS> 7,199,013 7,369,654
<SHORT-TERM> 0 0
<PAYABLES> 127,632 147,710
<REPOS-SOLD> 0 0
<SECURITIES-LOANED> 0 0
<INSTRUMENTS-SOLD> 0 0
<LONG-TERM> 0 0
<COMMON> 7,071,381 7,221,944
0 0
0 0
<OTHER-SE> 0 0
<TOTAL-LIABILITY-AND-EQUITY> 7,199,013 7,369,654
<TRADING-REVENUE> 219,854 (745,813)
<INTEREST-DIVIDENDS> 85,175 55,180
<COMMISSIONS> (161,912) (175,993)
<INVESTMENT-BANKING-REVENUES> 0 0
<FEE-REVENUE> 0 0
<INTEREST-EXPENSE> 0 0
<COMPENSATION> (97,407) (101,728)
<INCOME-PRETAX> 45,710 (968,354)
<INCOME-PRE-EXTRAORDINARY> 0 0
<EXTRAORDINARY> 0 0
<CHANGES> 0 0
<NET-INCOME> 45,710 (968,354)
<EPS-PRIMARY> 0 0
<EPS-DILUTED> 0 0
</TABLE>
|
|