1. Organization and Business
The Blended Strategies Portfolio (the
“Fund”) is a series of Graham Alternative Investment Fund I LLC (
“GAIF I”), a Delaware Series Limited Liability Company established through an amendment to the certificate of formation, effective
March 28, 2013. Prior to
March 28, 2013, GAIF I was organized as a Delaware Limited Liability Company which was formed on
May 16, 2006 and commenced operations on
August 1, 2006. GAIF I has one other active series in addition to the Fund, the Systematic Strategies Portfolio, which ceased trading operations on
October 31, 2019. GAIF I is registered as a commodity pool and as such is subject to the oversight and jurisdiction of the U.S. Commodity Futures Trading Commission (
“CFTC”).
As a Series Limited Liability Company each series is legally segregated, and the assets associated with each series are held separately and accounted for in separate and distinct records from the assets of any other series of GAIF I. The debts, liabilities, obligations and expenses incurred, contracted for or otherwise existing with respect to a particular series are enforceable against the assets of such series only, and not against the assets of GAIF I generally or any other series thereof. Further, none of the debts, liabilities, obligations and expenses incurred, contracted for or otherwise existing with respect to GAIF I are enforceable against the assets of any other series.
The Fund offers investors Class 0 and Class 2 Units (collectively the
“Units”). The Fund invests all of its assets dedicated to trading in Graham Alternative Investment Trading LLC (
“GAIT”), a Delaware Limited Liability Company which was formed on
May 18, 2006 and commenced operations on
August 1, 2006. GAIT invests in various master trading vehicles (
“Master Funds”) and Graham Cash Assets LLC (
“Cash Assets”), all of which are managed by Graham Capital Management, L.P. (the
“Advisor” or
“Manager”). The Manager is the manager and the sole investment advisor of GAIT and the Fund. The Manager is registered as a Commodity Pool Operator and Commodity Trading Advisor with the CFTC and is a member of the National Futures Association. The Manager is also registered with the Securities and Exchange Commission as an investment adviser. The Fund’s Units are registered under Section 12 of the Securities Exchange Act of 1934.
The investment objective of the Fund is to achieve long-term capital appreciation through professionally managed trading in both U.S. and foreign markets primarily in futures
contracts, forwards
contracts, spot currency
contracts, and associated derivative instruments, such as options and swaps, through its investment in GAIT, which in turn invests in various Master Funds. The Master Funds seek to profit from opportunities in the global financial markets, including interest rate futures, foreign exchange, global stock indices and energy, metals and agricultural futures, as professionally managed multi-strategy investment vehicles. Each of the investment programs consists of multiple trading strategies of the Manager, which the Manager has combined in an effort to diversify the Fund’s investment exposure and to make the Fund’s performance returns less volatile and more consistently profitable.
SEI Global Services, Inc. (“SEI”) is the Fund’s independent administrator and transfer agent. SEI is responsible for certain matters pertaining to the administration of the Fund.
The Fund will terminate on December 31, 2050 or at an earlier date if certain conditions occur as outlined in the Limited Liability Company Agreement (“LLC Agreement”).
The performance of the Fund is directly affected by the performance of GAIT; therefore, these financial statements should be read in conjunction with the attached financial statements of GAIT, including the condensed schedules of investments.
Duties of the Manager
Subject to the terms and conditions of the LLC Agreement, the Manager has complete and exclusive responsibility for managing and administering the affairs of the Fund and for directing the investment and reinvestment of the assets of the Fund and GAIT.
