BLB&G Advising Clients Who Invested in Managed-Futures Funds

November 12, 2013

NEW YORK, NY--(Marketwired - Nov 12, 2013) - Bernstein Litowitz Berger & Grossmann LLP ("BLB&G") today announced that it is advising clients who invested in certain managed-futures funds offered by Morgan Stanley Smith Barney Holdings LLC ("Morgan Stanley") and its subsidiary Ceres Managed Futures LLC ("Ceres"), Merrill Lynch Alternative Investments LLC ("Merrill Lynch"), and others. Specifically, BLB&G is advising clients with regard to potential claims arising from whether fund managers, brokers, and advisors of managed-futures funds adequately disclosed excessive commissions, expenses, and fees that were charged to investors. A list of managed-futures funds potentially at issue is set forth below.

An analysis of certain managed-futures funds has revealed that, according to data filed with the U.S. Securities and Exchange Commission, 89 percent of the gains in dozens of managed-futures funds were used to pay fees, commissions and expenses, rather than being returned to investors.

In certain funds, all of the gains that were earned by the funds were entirely wiped out by hundreds of millions of dollars in commissions, expenses, and fees paid to fund managers and Morgan Stanley. Morgan Stanley's own chief investment strategist previously cautioned investors to avoid managed-futures funds charging more than 2 to 3 percent in annual fees, yet most Morgan Stanley funds impose annual fees that are double or triple its own strategists' acceptable level.

These fees and expenses may not have been adequately disclosed to investors. Among other things, industry benchmark data used to promote managed-futures funds is based solely on information volunteered by managed-futures traders and fails to deduct billions of dollars of fees charged by the funds.

If you are an investor seeking advice regarding your investment in any managed-futures funds, including the funds listed below, please contact Avi Josefson of BLB&G at 212-554-1493, or via e-mail at avi@blbglaw.com, to discuss your claims:

Morgan Stanley/Ceres Managed-Futures Funds:

  • Morgan Stanley Smith Barney Spectrum Strategic L.P.
  • Morgan Stanley Smith Barney Spectrum Technical L.P.
  • Morgan Stanley Smith Barney Spectrum Currency and Commodity L.P.
  • Morgan Stanley Smith Barney Spectrum Global Balanced L.P.
  • Morgan Stanley Smith Barney Spectrum Strategic L.P.
  • Morgan Stanley Smith Barney Spectrum Select L.P.
  • Polaris Futures Fund L.P.
  • Meritage Futures Fund L.P.
  • LV Futures Fund L.P.
  • Managed Futures Premier BHM, L.P.
  • Managed Futures Premier Graham L.P.
  • Managed Futures Premier Aventis II L.P.
  • Managed Futures Premier Warrington L.P.

Merrill Lynch Managed-Futures Funds:

  • ML Systematic Momentum FuturesAccess LLC
  • Man AHL FuturesAccess LLC
  • ML Aspect FuturesAccess LLC
  • ML Winton FuturesAccess LLC
  • ML BlueTrend FuturesAccess LLC
  • ML Transtrend DTP Enhanced FuturesAccess LLC

Other Managed-Futures Funds:

  • Grant Park Futures Fund LP
  • Altegris Winton Futures Fund LP
  • Campbell Strategic Allocation Fund L.P.
  • RJO Global Trust

Since its founding in 1983, BLB&G has built an international reputation for excellence and integrity. Specializing in securities fraud, corporate governance, shareholders' rights, employment discrimination, and civil rights litigation, among other practice areas, BLB&G prosecutes class and private actions on behalf of institutional and individual clients worldwide. Unique among its peers, BLB&G has obtained several of the largest and most significant securities recoveries in history, recovering billions of dollars on behalf of defrauded investors. More information about BLB&G can be found online at www.blbglaw.com.

CONTACT:
Avi Josefson
Bernstein Litowitz Berger & Grossmann LLP
1285 Avenue of Americas, 38th Floor
New York, NY 10019
(212) 554-1493
avi@blbglaw.com

Contact

Avi Josefson
+1 (212) 554-1493, +1 (312) 373-3880
avi@blbglaw.com

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