DEAN WITTER GLOBAL PERSPECTIVE PORTFOLIO L P - 10-K Annual Report

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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 10-K

[X] Annual report pursuant to Section 13 or 15(d) of the Securities Exchange
Act of 1934 [No Fee Required]
For the year ended December 31, 2001 or

[ ] Transition report pursuant to Section 13 or 15(d) of the Securities
Exchange Act of 1934 [No Fee Required]
For the transition period from ________________to___________________
Commission File Number 0-19901

DEAN WITTER GLOBAL PERSPECTIVE PORTFOLIO L.P.

(Exact name of registrant as specified in its Limited Partnership Agreement)

DELAWARE 13-3642323
(State or other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification No.)

Demeter Management Corporation
c/o Managed Futures Department
825 Third Avenue, 8th Floor,
New York, NY 10022
(Address of principal executive offices) (Zip Code)

Registrant's telephone number, including area code (201) 876-4647

Securities registered pursuant to Section 12(b) of the Act:

Name of each exchange
Title of each class on which registered

None None

Securities registered pursuant to Section 12(g) of the Act:

Units of Limited Partnership Interest

(Title of Class)

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 ______

Indicate by check-mark if disclosure of delinquent filers pursuant to
Item 405 of Regulation S-K (section 229.405 of this chapter) is not contained
herein, and will not be contained, to the best of registrant's knowledge, in
definitive proxy or information statements incorporated by reference in Part
III of this Form 10-K or any amendment of this Form 10-K. [X]

State the aggregate market value of the Units of Limited Partnership Interest
held by non-affiliates of the registrant. The aggregate market value shall be
computed by reference to the price at which units were sold as of a specified
date within 60 days prior to the date of filing: $9,836,159 at January 31,
2002.

DOCUMENTS INCORPORATED BY REFERENCE
(See Page 1)

DEAN WITTER GLOBAL PERSPECTIVE PORTFOLIO L.P.
INDEX TO ANNUAL REPORT ON FORM 10-K
DECEMBER 31, 2001

DOCUMENTS INCORPORATED BY REFERENCE

Portions of the following documents are incorporated by reference
as follows:

Documents Incorporated Part of Form 10-K

Partnership's Prospectus dated December
31, 1991, together with the Supplement
to the Prospectus dated April 27, 1992 I and IV

Annual Report to the Dean Witter
Global Perspective Portfolio L.P.
Limited Partners for the year ended
December 31, 2001 II, III and IV

PART I
Item 1. BUSINESS
(a) General Development of Business. Dean Witter Global
Perspective Portfolio L.P. (the "Partnership") is a Delaware
limited partnership organized to engage primarily in the
speculative trading of futures contracts, options on futures
contracts and forward contracts on physical commodities and other
commodity interests. The Partnership commenced operations on
March 1, 1992.

The general partner for the Partnership is Demeter Management
Corporation ("Demeter"). The non-clearing commodity broker is
Morgan Stanley DW Inc. ("Morgan Stanley DW"). The clearing
commodity brokers are Morgan Stanley & Co., Inc. ("MS & Co.") and
Morgan Stanley & Co. International Limited ("MSIL"). Demeter,
Morgan Stanley DW, MS & Co. and MSIL are wholly-owned subsidiaries
of Morgan Stanley Dean Witter & Co. ("MSDW"). The trading
advisors to the Partnership are EMC Capital Management, Inc.
("EMC") and Millburn Ridgefield Corporation ("Millburn"),
(collectively, the "Trading Advisors").

Effective April 2, 2001, Dean Witter Reynolds Inc. changed its
name to Morgan Stanley DW Inc.

The Partnership's net asset value per unit of limited partnership
interest ("Unit(s)") as of December 31, 2001 was $990.95,
representing a decrease of 1.43 percent from the net asset value
per Unit of $1,005.36 at December 31, 2000. For a more detailed
description of the Partnership's business, see subparagraph (c).

(b) Financial Information about Segments. For financial
information reporting purposes, the Partnership is deemed to
engage in one industry segment, the speculative trading of
futures, forwards and options. The relevant financial information
is presented in Items 6 and 8.

(c) Narrative Description of Business. The Partnership is in the
business of speculative trading of futures, forwards, and options,
pursuant to trading instructions provided by its Trading Advisors.
For a detailed description of the different facets of the
Partnership's business, see those portions of the Partnership's
prospectus, dated December 31, 1991 (the "Prospectus"),
incorporated by reference in this Form 10-K, set forth below.
Facets of Business
1. Summary 1. "Summary of the Prospectus"
(Pages 1-6 of the
Prospectus).

2. Commodities Markets 2. "The Commodities Markets"
(Pages 66-73 of the
Prospectus).

3. Partnership's Commodity 3. "Trading Policies" (Page
Trading Arrangements and 61 of the Prospectus).
Policies "The Trading Advisors"
(Pages 32-60 of the
Prospectus).

4. Management of the Part- 4. "The Management Agreement"
nership (Pages 63-66 of the
Prospectus). "The
General Partner" (Pages
28-30 of the Prospectus).
"The Commodity Broker"
(Pages 61-63 of the
Prospectus) and "The
Limited Partnership
Agreement" (Pages
75-78 of the Prospectus).

5. Taxation of the Partner- 5. "Material Federal Income
ship's Limited Partners Tax Considerations" and
"State and Local Income
Tax Aspects" (Pages 81-
89 of the Prospectus).

(d) Financial Information about Geographic Areas

The Partnership has not engaged in any operations in foreign
countries; however, the Partnership (through the commodity
brokers) enters into forward contract transactions where foreign
banks are the contracting party and trades in futures, forwards,
and options on foreign exchanges.

Item 2. PROPERTIES
The executive and administrative offices are located within the
offices of Morgan Stanley DW. The Morgan Stanley DW offices
utilized by the Partnership are located at 825 Third Avenue, 8th
Floor, New York, NY 10022.

Demeter changed its address from 2 World Trade Center, New York,
NY 10048.

Item 3. LEGAL PROCEEDINGS
In April 2001, the Appellate Division of New York State dismissed
the class action previously disclosed in the Partnership's Form
10-K for the year ended December 31, 2000. Because plaintiffs did
not exercise their right to appeal any further, this dismissal
constituted a final resolution of the case.

Item 4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS
None.

PART II

Item 5. MARKET FOR THE REGISTRANT'S PARTNERSHIP UNITS AND
RELATED SECURITY HOLDER MATTERS

(a) Market Information
There is no established public trading market for Units of the
Partnership.

(b) Holders
The number of holders of Units at December 31, 2001 was
approximately 1,403.

(c) Distributions
No distributions have been made by the Partnership since it
commenced trading operations on March 1, 1992. Demeter has sole
discretion to decide what distributions, if any, shall be made to
investors in the Partnership. Demeter currently does not intend
to make any distribution of Partnership profits.

Item 7. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL
CONDITION AND RESULTS OF OPERATIONS

Liquidity - The Partnership deposits its assets with Morgan
Stanley DW as non-clearing broker and MS & Co. and MSIL as
clearing brokers in separate futures, forwards, and options
trading accounts established for each Trading Advisor, which
assets are used as margin to engage in trading. The assets are
held in either non-interest bearing bank accounts or in securities
and instruments permitted by the Commodity Futures Trading
Commission ("CFTC") for investment of customer segregated or
secured funds. The Partnership's assets held by the commodity
brokers may be used as margin solely for the Partnership's
trading. Since the Partnership's sole purpose is to trade in
futures, forwards, and options, it is expected that the
Partnership will continue to own such liquid assets for margin
purposes.

The Partnership's investment in futures, forwards, and options
may, from time to time, be illiquid. Most U.S. futures exchanges
limit fluctuations in prices during a single day by regulations
referred to as "daily price fluctuations limits" or "daily
limits". Trades may not be executed at prices beyond the daily
limit. If the price for a particular futures or options contract
has increased or decreased by an amount equal to the daily limit,
positions in that futures or options contract can neither be taken

nor liquidated unless traders are willing to effect trades at or
within the limit. Futures prices have occasionally moved the
daily limit for several consecutive days with little or no
trading. These market conditions could prevent the Partnership
from promptly liquidating its futures or options contracts and
result in restrictions on redemptions.

There is no limitation on daily price moves in trading forward
contracts on foreign currencies. The markets for some world
currencies have low trading volume and are illiquid, which may
prevent the Partnership from trading in potentially profitable
markets or prevent the Partnership from promptly liquidating
unfavorable positions in such markets, subjecting it to
substantial losses. Either of these market conditions could
result in restrictions on redemptions.

The Partnership has never had illiquidity affect a material
portion of its assets.

Capital Resources. The Partnership does not have, nor expect to
have, any capital assets. Redemptions of Units in the future will
affect the amount of funds available for investment in futures,
forwards, and options in subsequent periods. It is not possible
to estimate the amount and therefore the impact of future
redemptions of Units.

Results of Operations.
General. The Partnership's results depend on the Trading Advisors
and the ability of each Trading Advisor's trading programs to take
advantage of price movements or other profit opportunities in the
futures, forwards, and options markets. The following presents a
summary of the Partnership's operations for the three years ended
December 31, 2001 and a general discussion of its trading
activities during each period. It is important to note, however,
that the Trading Advisors trade in various markets at different
times and that prior activity in a particular market does not mean
that such market will be actively traded by the Trading Advisors
or will be profitable in the future. Consequently, the results of
operations of the Partnership are difficult to discuss other than
in the context of the Trading Advisors' trading activities on
behalf of the Partnership and how the Partnership has performed in
the past.

At December 31, 2001, the Partnership's total capital was
$10,250,599, a decrease of $1,410,455 from the Partnership's total
capital of $11,661,054 at December 31, 2000. For the year ended
December 31, 2001, the Partnership generated a net loss of
$108,264 and total redemptions aggregated $1,302,191.

For the year ended December 31, 2001, the Partnership recorded
total trading revenues, including interest income, of $1,209,340

and after expenses, posted a decrease in net asset value per Unit.
The most significant losses of approximately 8.4% were recorded
in the energy markets primarily from futures positions in crude
oil and its refined products as a result of volatility in oil
prices due to a continually changing outlook for supply,
production, and global demand. Losses of approximately 4.2% were
also experienced primarily during the second and fourth quarters
from long positions in European, Japanese and Australian interest
rate futures as investors deserted fixed income securities in
favor of equities. Additional losses of approximately 2.8% were
experienced in soft commodities from short positions in sugar
futures as prices reversed higher on supply concerns and from
long positions in cocoa futures as prices declined due to an
increase in warehouse stockpiles. In the currency markets, small
losses of approximately 0.5% were recorded, as gains experienced
during the fourth quarter from short positions in the Japanese
yen were insufficient to offset earlier losses recorded from long
positions in the euro versus the U.S. dollar, the British pound
and the Norwegian krone. Additional losses were also recorded in
both the British pound and the Australian dollar versus the U.S.
dollar as conflicting economic reports caused trendless pricing
patterns. Smaller losses of approximately 1.0% were recorded in
the metals sector from long positions in gold futures as prices
reversed lower on the heels of sharp gains in the U.S. stock
market. A portion of the Partnership's losses was offset by
gains of approximately 11.0% experienced in the global stock
index futures markets from short positions in DAX, Hang Seng, and

Nikkei Index futures as equity prices generally declined on
weakness in high technology issues and fears regarding global
economic uncertainty. Total expenses for the year were
$1,317,604, resulting in a net loss of $108,264. The net asset
value of a Unit decreased from $1,005.36 at December 31, 2000 to
$990.95 at December 31, 2001.

At December 31, 2000, the Partnership's total capital was
$11,661,054, a decrease of $3,184,713 from the Partnership's total
capital of $14,845,767 at December 31, 1999. For the year ended
December 31, 2000, the Partnership generated net income of
$148,781, and total redemptions aggregated $3,333,494.

For the year ended December 31, 2000, the Partnership recorded
total trading revenues, including interest income, of $1,436,980
and posted an increase in net asset value per Unit. The most
significant gains of approximately 3.6% were recorded in the
energy markets as long futures positions in both crude oil and
its refined products proved profitable during the first quarter
on growing speculation that OPEC would extend production cuts.
Additional gains of approximately 3.2% resulted from long
positions in natural gas futures as prices skyrocketed to all-
time highs during the fourth quarter on cold winter weather
across much of the U.S. and due to continued concerns regarding
supply. Gains of approximately 2.0% were also experienced from

long futures positions in sugar futures as prices trended to 22-
month highs during June due to strong demand and declining
production from Brazil. Smaller gains of approximately 1.0% were
experienced in the fourth quarter from long positions in the euro
as the value of the European common currency strengthened
relative to the U.S. dollar on concerns about slowing U.S. growth
and persistent declines in U.S. stocks. A portion of the
Partnership's gains was offset by losses of approximately 4.1%
experienced in global stock index futures markets as the
Partnership experienced difficulty trading Asian and Australian
stock indices throughout the first half of the year. Losses of
approximately 3.4% were also recorded in the metals markets as
erratic price activity resulted in the predominance of trendless
markets. Total expenses for the year were $1,288,199, resulting
in net income of $148,781. The net asset value of a Unit
increased from $970.18 at December 31, 1999 to $1,005.36 at
December 31, 2000.

At December 31, 1999, the Partnership's total capital was
$14,845,767, a decrease of $4,141,476 from the Partnership's total
capital of $18,987,243 at December 31, 1998. For the year ended
December 31, 1999, the Partnership generated a net loss of
$1,674,974 and total redemptions aggregated $2,466,502.

For the year ended December 31, 1999, the Partnership recorded
total trading revenues, including interest income, of $268,597 and
after expenses, posted a decrease in net asset value per Unit. The
most significant losses of approximately 7.02% were experienced
from global interest rate futures trading as the volatile and
choppy price movement experienced during the year limited the
ability to capitalize on trends. During the fourth quarter, most
global bond markets dropped on a resurgence of inflation and
interest rate fears initiated by consistently strong U.S.
economic data, evidence of rising inflation in Germany and
increases in oil prices. Additional losses of approximately
5.40% were recorded in the global stock index futures markets
primarily from short European stock index futures, particularly
German, as prices in these markets were boosted higher by gains
on Wall Street and in Japan early in the year. As a result of a
widespread contraction of a number of major stock markets, some
downward price trends became established in the late summer/early
fall that caused the Partnership's trend-following managers to
establish short positions. Given the upward snapback exhibited
in many of these markets, especially the U.S., these previously
existing short positions were negatively impacted during the
fourth quarter. Smaller losses of 1.71% and 1.65% were recorded
in the agricultural markets and soft commodities markets,
respectively. A portion of the Partnership's overall losses for
the year were offset by gains of approximately 0.85% recorded in
the energy markets from long crude oil futures positions as oil

prices increased on supply cuts by oil producing nations. Total
expenses for the year were $1,943,571, resulting in a net loss of
$1,674,974. The net asset value of a Unit decreased from
$1,076.00 at December 31, 1998 to $970.18 at December 31, 1999.

The Partnership's overall performance record represents varied
results of trading in different futures, forwards, and options
markets. For a further description of 2001 trading results, refer
to the letter to the Limited Partners in the accompanying Annual
Report to Limited Partners for the year ended December 31, 2001,
which is incorporated by reference to Exhibit 13.01 of this Form
10-K. The Partnership's gains and losses are allocated among its
partners for income tax purposes.

Credit Risk.
Financial Instruments. The Partnership is a party to financial
instruments with elements of off-balance sheet market and credit
risk. The Partnership may trade futures, forwards and options in
a portfolio of agricultural commodities, energy products, foreign
currencies, interest rates, precious and base metals, soft
commodities, and stock indices. In entering into these contracts,
the Partnership is subject to the market risk that such contracts
may be significantly influenced by market conditions, such as
interest rate volatility, resulting in such contracts being less
valuable. If the markets moved against all of the positions held

by the Partnership at the same time, and if the Trading Advisors
were unable to offset positions of the Partnership, the
Partnership could lose all of its assets and investors would
realize a 100% loss.

In addition to the Trading Advisors' internal controls, each
Trading Advisor must comply with the trading policies of the
Partnership. These trading policies include standards for
liquidity and leverage with which the Partnership must comply.
The Trading Advisors and Demeter monitor the Partnership's
trading activities to ensure compliance with the trading
policies. Demeter may require the Trading Advisors to modify
positions of the Partnership if Demeter believes they violate the
Partnership's trading policies.

In addition to market risk, in entering into futures, forward,
and options contracts there is a credit risk to the Partnership
that the counterparty on a contract will not be able to meet its
obligations to the Partnership. The ultimate counterparty or
guarantor of the Partnership for futures contracts traded in the
United States and the foreign exchanges on which the Partnership
trades is the clearinghouse associated with such exchange. In
general, a clearinghouse is backed by the membership of the
exchange and will act in the event of non-performance by one of
its members or one of its member's customers, which should

significantly reduce this credit risk. For example, a
clearinghouse may cover a default by drawing upon a defaulting
member's mandatory contributions and/or non-defaulting members'
contributions to a clearinghouse guarantee fund, established
lines or letters of credit with banks, and/or the clearinghouse's
surplus capital and other available assets of the exchange and
clearinghouse, or assessing its members. In cases where the
Partnership trades off-exchange forward contracts with a
counterparty, the sole recourse of the Partnership will be the
forward contracts counterparty.

There is no assurance that a clearinghouse, exchange or exchange
member will meet its obligations to the Partnership, and Demeter
and the commodity brokers will not indemnify the Partnership
against a default by such parties. Further, the law is unclear as
to whether a commodity broker has any obligation to protect its
customers from loss in the event of an exchange or clearinghouse
defaulting on trades effected for the broker's customers. Any
such obligation on the part of a broker appears even less clear
where the default occurs in a non-U.S. jurisdiction.

Demeter deals with these credit risks of the Partnership in
several ways. First, it monitors the Partnership's credit
exposure to each exchange on a daily basis, calculating not only

the amount of margin required for it but also the amount of its
unrealized gains at each exchange, if any. The commodity brokers
inform the Partnership, as with all their customers, of its net
margin requirements for all its existing open positions, but do
not break that net figure down, exchange by exchange. Demeter,
however, has installed a system which permits it to monitor the
Partnership's potential margin liability, exchange by exchange.
As a result, Demeter is able to monitor the Partnership's
potential net credit exposure to each exchange by adding the
unrealized trading gains on that exchange, if any, to the
Partnership's margin liability thereon.

Second, the Partnership's trading policies limit the amount of
its net assets that can be committed at any given time to futures
contracts and require, in addition, a minimum amount of
diversification in the Partnership's trading, usually over
several different products. One of the aims of such trading
policies has been to reduce the credit exposure of the
Partnership to a single exchange and, historically, the
Partnership's exposure to any one exchange has typically amounted
to only a small percentage of its total net assets. On those
relatively few occasions where the Partnership's credit exposure
may climb above such level, Demeter deals with the situation on a
case by case basis, carefully weighing whether the increased
level of credit exposure remains appropriate. Material changes

to the trading policies may be made only with the prior written
approval of the Limited Partners owning more than 50% of Units
then outstanding.

Third, with respect to forward contract trading, the Partnership
trades with only those counterparties which Demeter, together
with Morgan Stanley DW, have determined to be creditworthy. The
Partnership presently deals with MS & Co. as the sole
counterparty on forward contracts.

Inflation has not been a major factor in the Partnership's
operations.

See "Financial Instruments" under Notes to Financial Statements
in the Partnership's Annual Report to Limited Partners for the
year ended December 31, 2001, which is incorporated by reference
to Exhibit 13.01 of this Form 10-K.
Item 7A. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET
RISK

Introduction
The Partnership is a commodity pool engaged primarily in the
speculative trading of futures, forwards, and options. The
market-sensitive instruments held by the Partnership are acquired
for speculative trading purposes only and, as a result, all or
substantially all of the Partnership's assets are at risk of

trading loss. Unlike an operating company, the risk of market-
sensitive instruments is central, not incidental, to the
Partnership's main business activities.

The futures, forwards, and options traded by the Partnership
involve varying degrees of related market risk. Market risk is
often dependent upon changes in the level or volatility of
interest rates, exchange rates, and prices of financial
instruments and commodities. Fluctuations in market risk based
upon these factors result in frequent changes in the fair value
of the Partnership's open positions, and, consequently, in its
earnings and cash flow.

The Partnership's total market risk is influenced by a wide
variety of factors, including the diversification among the
Partnership's open positions, the volatility present within the
markets, and the liquidity of the markets. At different times,
each of these factors may act to increase or decrease the market
risk associated with the Partnership.

The Partnership's past performance is not necessarily indicative
of its future results. Any attempt to numerically quantify the
Partnership's market risk is limited by the uncertainty of its
speculative trading. The Partnership's speculative trading may
cause future losses and volatility (i.e. "risk of ruin") that far

exceed the Partnership's experiences to date or any reasonable
expectations based upon historical changes in market value.

Quantifying the Partnership's Trading Value at Risk
The following quantitative disclosures regarding the Partnership's
market risk exposures contain "forward-looking statements" within
the meaning of the safe harbor from civil liability provided for
such statements by the Private Securities Litigation Reform Act of
1995 (set forth in Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934). All
quantitative disclosures in this section are deemed to be forward-
looking statements for purposes of the safe harbor, except for
statements of historical fact.

The Partnership accounts for open positions on the basis of mark-
to-market accounting principles. Any loss in the market value of
the Partnership's open positions is directly reflected in the
Partnership's earnings, whether realized or unrealized, and its
cash flow. Profits and losses on open positions of exchange-
traded futures, forwards, and options are settled daily through
variation margin.

The Partnership's risk exposure in the market sectors traded by
the Trading Advisors is estimated below in terms of Value at Risk
("VaR"). The VaR model used by the Partnership includes many

variables that could change the market value of the Partnership's
trading portfolio. The Partnership estimates VaR using a model
based upon historical simulation with a confidence level of 99%.
Historical simulation involves constructing a distribution of
hypothetical daily changes in the value of a trading portfolio.
The VaR model takes into account linear exposures to price and
interest rate risk. Market risks that are incorporated in the
VaR model include equity and commodity prices, interest rates,
foreign exchange rates, and correlation among these variables.
The hypothetical changes in portfolio value are based on daily
percentage changes observed in key market indices or other market
factors ("market risk factors") to which the portfolio is
sensitive. The historical observation period of the
Partnership's VaR is approximately four years. The one-day 99%
confidence level of the Partnership's VaR corresponds to the
negative change in portfolio value that, based on observed market
risk factors, would have been exceeded once in 100 trading days.

VaR models, including the Partnership's, are continuously
evolving as trading portfolios become more diverse and modeling
techniques and systems capabilities improve. Please note that
the VaR model is used to numerically quantify market risk for
historic reporting purposes only and is not utilized by either
Demeter or the Trading Advisors in their daily risk management
activities.

The Partnership's Value at Risk in Different Market Sectors
The following table indicates the VaR associated with the
Partnership's open positions as a percentage of total net assets
by primary market risk category at December 31, 2001 and 2000. At
December 31, 2001 and 2000, the Partnership's total capitalization
was approximately $10 million and $12 million, respectively.

Primary Market December 31, 2001 December 31, 2000
Risk Category Value at Risk Value at Risk

Currency (1.61)% (1.10)%
Interest Rate (0.99) (2.36)
Equity (0.33) (0.58)
Commodity (0.55) (0.81)
Aggregate Value at Risk (2.03)% (2.79)%
Aggregate Value at Risk represents the aggregate VaR of all the
Partnership's open positions and not the sum of the VaR of the
individual market categories listed above. Aggregate VaR will be
lower as it takes into account correlation among different
positions and categories.

The table above represents the VaR of the Partnership's open
positions at December 31, 2001 and 2000 only and is not
necessarily representative of either the historic or future risk
of an investment in the Partnership. Because the Partnership's
only business is the speculative trading of futures, forwards,
and options, the composition of its trading portfolio can change

significantly over any given time period, or even within a single
trading day. Any changes in open positions could positively or
negatively materially impact market risk as measured by VaR.

The table below supplements the December 31, 2001 VaR by
presenting the Partnership's high, low and average VaR, as a
percentage of total net assets for the four quarterly reporting
periods from January 1, 2001 through December 31, 2001.
Primary Market Risk Category High Low Average
Currency (2.26)% (1.11)% (1.80)%
Interest Rate (1.42) (0.99) (1.21)
Equity (1.17) (0.33) (0.86)
Commodity (1.44) (0.55) (0.94)
Aggregate Value at Risk (3.12)% (2.03)% (2.55)%

Limitations on Value at Risk as an Assessment of Market Risk
The face value of the market sector instruments held by the
Partnership is typically many times the applicable margin
requirements. Margin requirements generally range between 2% and
15% of contract face value. Additionally, the use of leverage
causes the face value of the market sector instruments held by the
Partnership to typically be many times the total capitalization of
the Partnership. The value of the Partnership's open positions
thus creates a "risk of ruin" not usually found in other
investments. The relative size of the positions held may cause

the Partnership to incur losses greatly in excess of VaR within a
short period of time, given the effects of the leverage employed
and market volatility. The VaR tables above, as well as the past
performance of the Partnership, give no indication of such "risk
of ruin". In addition, VaR risk measures should be viewed in light
of the methodology's limitations, which include the following:
? past changes in market risk factors will not always result in
accurate predictions of the distributions and correlations of
future market movements;
? changes in portfolio value caused by market movements may
differ from those of the VaR model;
? VaR results reflect past trading positions while future risk
depends on future positions;
? VaR using a one-day time horizon does not fully capture the
market risk of positions that cannot be liquidated or hedged
within one day; and
? the historical market risk factor data used for VaR estimation
may provide only limited insight into losses that could be
incurred under certain unusual market movements.
The VaR tables above present the results of the Partnership's VaR
for each of the Partnership's market risk exposures and on an
aggregate basis at December 31, 2001 and 2000, and for the end of
the four quarterly reporting periods during calendar year 2001.
Since VaR is based on historical data, VaR should not be viewed as

predictive of the Partnership's future financial performance or
its ability to manage or monitor risk. There can be no assurance
that the Partnership's actual losses on a particular day will not
exceed the VaR amounts indicated above or that such losses will
not occur more than once in 100 trading days.

Non-Trading Risk
The Partnership has non-trading market risk on its foreign cash
balances not needed for margin. These balances and any market
risk they may represent are immaterial.

At December 31, 2001, the Partnership's cash balance at Morgan
Stanley DW was approximately 91% of its total net asset value. A
decline in short-term interest rates will result in a decline in
the Partnership's cash management income. This cash flow risk is
not considered to be material.

Materiality, as used throughout this section, is based on an
assessment of reasonably possible market movements and any
associated potential losses taking into account the leverage,
optionality and multiplier features of the Partnership's market-
sensitive instruments, in relation to the Partnership's net
assets.
Qualitative Disclosures Regarding Primary Trading Risk Exposures
The following qualitative disclosures regarding the Partnership's

market risk exposures - except for (A) those disclosures that are
statements of historical fact and (B) the descriptions of how the
Partnership manages its primary market risk exposures - constitute
forward-looking statements within the meaning of Section 27A of
the Securities Act and Section 21E of the Securities Exchange Act.
The Partnership's primary market risk exposures as well as the
strategies used and to be used by Demeter and the Trading Advisors
for managing such exposures are subject to numerous uncertainties,
contingencies and risks, any one of which could cause the actual
results of the Partnership's risk controls to differ materially
from the objectives of such strategies. Government interventions,
defaults and expropriations, illiquid markets, the emergence of
dominant fundamental factors, political upheavals, changes in
historical price relationships, an influx of new market
participants, increased regulation and many other factors could
result in material losses as well as in material changes to the
risk exposures and the risk management strategies of the
Partnership. Investors must be prepared to lose all or
substantially all of their investment in the Partnership.

The following were the primary trading risk exposures of the
Partnership at December 31, 2001, by market sector. It may be
anticipated, however, that these market exposures will vary
materially over time.

Currency. The primary market exposure of the Partnership at
December 31, 2001 was to the currency sector. The Partnership's
currency exposure was to exchange rate fluctuations, primarily
fluctuations which disrupt the historical pricing relationships
between different currencies and currency pairs. Interest rate
changes as well as political and general economic conditions
influence these fluctuations. The Partnership trades in a large
number of currencies, including cross-rates - i.e., positions
between two currencies other than the U.S. dollar. At December
31, 2001, the Partnership's major exposures were to the euro
currency crosses and outright U.S. dollar positions. Outright
positions consist of the U.S. dollar vs. other currencies. These
other currencies include major and minor currencies. Demeter
does not anticipate that the risk profile of the Partnership's
currency sector will change significantly in the future. The
currency trading VaR figure includes foreign margin amounts
converted into U.S. dollars with an incremental adjustment to
reflect the exchange rate risk inherent to the dollar-based
Partnership in expressing VaR in a functional currency other than
dollars.

Interest Rate. The second largest market exposure at December
31, 2001 was in the global interest rate sector. Exposure was
primarily spread across the U.S., European and Japanese interest
rate sectors. Interest rate movements directly affect the price

of the sovereign bond futures positions held by the Partnership
and indirectly affect the value of its stock index and currency
positions. Interest rate movements in one country as well as
relative interest rate movements between countries materially
impact the Partnership's profitability. The Partnership's
primary interest rate exposure is generally to interest rate
fluctuations in the United States and the other G-7 countries.
The G-7 countries consist of France, U.S., Britain, Germany,
Japan, Italy and Canada. However, the Partnership also takes
futures positions in the government debt of smaller nations -
e.g. Australia. Demeter anticipates that G-7 interest rates will
remain the primary interest rate exposure of the Partnership for
the foreseeable future. The speculative futures positions held
by the Partnership may range from short to long-term instruments.
Consequently, changes in short, medium or long-term interest
rates may have an effect on the Partnership.

Equity. The primary equity exposure at December 31, 2001 was to
equity price risk in the G-7 countries. The stock index futures
traded by the Partnership are by law limited to futures on
broadly-based indices. At December 31, 2001, the Partnership's
primary exposures were to the TOPIX (Taiwan), FTSE (Britain) and
Hang Seng (China) stock indices. The Partnership is primarily
exposed to the risk of adverse price trends or static markets in
the U.S., European, and Japanese indices. Static markets would

not cause major market changes but would make it difficult for
the Partnership to avoid being "whipsawed" into numerous small
losses.

Commodity.
Soft Commodities and Agriculturals. At December 31, 2001,
the Partnership had exposure to the markets that comprise
these sectors. Most of the exposure, however, was in the
soybean meal, soybeans and sugar markets. Supply and demand
inequalities, severe weather disruption and market
expectations affect price movements in these markets.

Energy. At December 31, 2001, the Partnership's energy
exposure was shared primarily by futures contracts in crude
oil and its related products, and natural gas markets. Price
movements in these markets result from political
developments in the Middle East, weather patterns and other
economic fundamentals. It is possible that volatility will
remain high. Significant profits and losses, which have
been experienced in the past, are expected to continue to be
experienced in these markets. Natural gas has exhibited
volatility in prices resulting from weather patterns and
supply and demand factors and may continue in this choppy
pattern.

Metals. The Partnership's metals exposure at December 31,
2001 was to fluctuations in the price of precious metals,
such as gold and silver, and base metals, such as nickel,
zinc, copper and aluminum. Economic forces, supply and
demand inequalities, geopolitical factors and market
expectations influence price movement in these markets. The
Trading Advisors have, from time to time, taken positions as
market opportunities develop. Demeter anticipates that the
Partnership will continue to be exposed to the precious and
base metals markets.

Qualitative Disclosures Regarding Non-Trading Risk Exposure
The following was the only non-trading risk exposure of the
Partnership at December 31, 2001:

Foreign Currency Balances. The Partnership's primary
foreign currency balances at December 31, 2001 were in euros
and Hong Kong dollars. The Partnership controls the non-
trading risk of these balances by regularly converting them
back into U.S. dollars upon liquidation of their respective
positions.

Qualitative Disclosures Regarding Means of Managing Risk Exposure
The Partnership and the Trading Advisors, separately, attempt to
manage the risk of the Partnership's open positions in
essentially the same manner in all market categories traded.

Demeter attempts to manage market exposure by diversifying the
Partnership's assets among different Trading Advisors, each of
whose strategies focus on different market sectors and trading
approaches, and monitoring the performance of the Trading
Advisors daily. In addition, the Trading Advisors establish
diversification guidelines, often set in terms of the maximum
margin to be committed to positions in any one market sector or
market-sensitive instrument.

Demeter monitors and controls the risk of the Partnership's non-
trading instrument, cash. Cash is the only Partnership
investment directed by Demeter, rather than the Trading Advisors.

Item 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA
The Financial Statements are incorporated by reference to the
Partnership's Annual Report, which is filed as Exhibit 13.01
hereto.

Supplementary data specified by Item 302 of Regulation S-K:

Summary of Quarterly Results (Unaudited)

Net Income/
(Loss) Per
Quarter Revenue Net Unit of Limited
Ended (Net Trading Loss) Income/(Loss) Partnership Interest

2001
March 31 $ 1,800,222 $ 1,441,969 $126.67
June 30 (758,907) (1,080,146) (95.94)
September 30 882,435 521,654 48.29
December 31 (714,410) (991,741) (93.43)

Total $ 1,209,340 $ (108,264) $(14.41)

2000
March 31 $ (51,780) $ (449,952) $(31.17)
June 30 (628,693) (966,439) (70.42)
September 30 (380,076) (671,200) (52.36)
December 31 2,497,529 2,236,372 189.13

Total $ 1,436,980 $ 148,781 $ 35.18

Item 9. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON
ACCOUNTING AND FINANCIAL DISCLOSURE

None.

PART III

Item 10. DIRECTORS AND EXECUTIVE OFFICERS OF THE REGISTRANT
There are no directors or executive officers of the Partnership.
The Partnership is managed by Demeter.

Directors and Officers of the General Partner
The directors and officers of Demeter are as follows:

Robert E. Murray, age 41, is the Executive Director of Morgan
Stanley DW's Managed Futures Department, a leading commodity pool
operator with approximately $1.4 billion in assets across a
variety of U.S. and international public and private managed
futures funds. In this capacity, Mr. Murray is responsible for
overseeing all aspects of Morgan Stanley DW's Managed Futures
Department. Mr. Murray began at Dean Witter in 1984 and has been
closely involved in the growth of managed futures at the firm
over the last 17 years. He is also the chairman and president of
Morgan Stanley Futures & Currency Management Inc. ("MSFCM")
(formerly known as Dean Witter Futures & Currency Management
Inc.), Morgan Stanley's internal commodity trading advisor, and
is Chairman and President of Demeter, the entity which acts as a
general partner for Morgan Stanley DW's managed futures funds.
Mr. Murray has served as the Vice Chairman and a Director of the
Board of the Managed Futures Association and is currently a

member of the Board of Directors of the National Futures
Association. Mr. Murray received a Bachelors Degree in Finance
from Geneseo State University in 1983.

Mitchell M. Merin, age 48, is a Director of Demeter. Mr. Merin
is also a Director of MSFCM. Mr. Merin was appointed the Chief
Operating Officer of Individual Asset Management for MSDW in
December 1998 and the President and Chief Executive Officer of
Morgan Stanley Dean Witter Advisors in February 1998. He has
been an Executive Vice President of Morgan Stanley DW since 1990,
during which time he has been Director of Morgan Stanley DW's
Taxable Fixed Income and Futures divisions, Managing Director in
Corporate Finance and Corporate Treasurer. Mr. Merin received
his Bachelors degree from Trinity College in Connecticut and his
M.B.A. degree in Finance and Accounting from the Kellogg Graduate
School of Management of Northwestern University in 1977.

Joseph G. Siniscalchi, age 56, is a Director of Demeter. Mr.
Siniscalchi joined Morgan Stanley DW in July 1984 as a First Vice
President, Director of General Accounting and served as a Senior
Vice President and Controller for Morgan Stanley DW's Securities
Division through 1997. He is currently Managing Director,
responsible for the Client Support Service Division of Morgan
Stanley DW. From February 1980 to July 1984, Mr. Siniscalchi was
Director of Internal Audit at Lehman Brothers Kuhn Loeb, Inc.

Edward C. Oelsner, III, age 60, is a Director of Demeter. Mr.
Oelsner is currently an Executive Vice President and head of the
Product Development Group at Morgan Stanley Dean Witter Advisors,
an affiliate of Morgan Stanley DW. Mr. Oelsner joined Morgan
Stanley DW in 1981 as a Managing Director in Morgan Stanley DW's
Investment Banking Department specializing in coverage of
regulated industries and, subsequently, served as head of the
Morgan Stanley DW Retail Products Group. Prior to joining Morgan
Stanley DW, Mr. Oelsner held positions at The First Boston
Corporation as a member of the Research and Investment Banking
Departments from 1967 to 1981. Mr. Oelsner received his M.B.A. in
Finance from the Columbia University Graduate School of Business
in 1966 and an A.B. in Politics from Princeton University in 1964.

Richard A. Beech, age 50, is a Director of Demeter. Mr. Beech
has been associated with the futures industry for over 24 years.
He has been at Morgan Stanley DW since August 1984 where he is
presently an Executive Director and head of Branch Futures. Mr.
Beech began his career at the Chicago Mercantile Exchange, where
he became the Chief Agricultural Economist doing market analysis,
marketing and compliance. Prior to joining Morgan Stanley DW,
Mr. Beech also had worked at two investment banking firms in
operations, research, managed futures and sales management.

Raymond A. Harris, age 45, is currently Managing Director in
Asset Management Services. He previously served as CAO of Morgan
Stanley Dean Witter Asset Management. From July 1982 to July
1994, Mr. Harris served in financial, administrative and other
assignments at Dean Witter Reynolds, Inc. and Dean Witter,
Discover & Co. From August 1994 to January 1999, he worked in
Discover Financial Services and the firm's Credit Service
business units. Mr. Harris has been with Morgan Stanley Dean
Witter & Co. and its affiliates since July 1982. He has a B.A.
degree from Boston College and an M.B.A. in finance from the
University of Chicago.

Anthony J. DeLuca, age 39, became a Director of Demeter on
September 14, 2000. Mr. DeLuca is also a Director of MSFCM. Mr.
DeLuca was appointed the Controller of Asset Management for MSDW
in June 1999. Prior to that, Mr. DeLuca was a partner at the
accounting firm of Ernst & Young LLP, where he had MSDW as a
major client. Mr. DeLuca had worked continuously at Ernst &
Young LLP ever since 1984, after he graduated from Pace
University with a B.B.A. degree in Accounting.

Raymond E. Koch, age 46, is Chief Financial Officer of Demeter.
Mr. Koch began his career at MSDW in 1988, has overseen the
Managed Futures Accounting function since 1992, and is currently
an Executive Director in Investment Management Controllers. From
November 1979 to June 1988, Mr. Koch held various positions at

Thomson McKinnon Securities, Inc. culminating as Manager, Special
Projects in the Capital Markets Division. From August 1977 to
November 1979 he was an auditor, specializing in financial
services at Deloitte Haskins & Sells. Mr. Koch received his
B.B.A. in accounting from Iona College in 1977, an M.B.A. in
finance from Pace University in 1984 and is a Certified Public
Accountant.

All of the foregoing directors have indefinite terms.

Item 11. EXECUTIVE COMPENSATION
The Partnership has no directors and executive officers. As a
limited partnership, the business of the Partnership is managed by
Demeter, which is responsible for the administration of the
business affairs of the Partnership but receives no compensation
for such services.

Item 12. SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND
MANAGEMENT

(a) Security Ownership of Certain Beneficial Owners - At December
31, 2001, there were no persons known to be beneficial owners of
more than 5 percent of the Units.

(b) Security Ownership of Management - At December 31, 2001,
Demeter owned 215.962 Units of General Partnership Interest in the
Partnership, representing a 2.1 percent interest in the
Partnership.

(c) Changes in Control - None

Item 13. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS
Refer to Note 2 - "Related Party Transactions" of "Notes to
Financial Statements", in the accompanying Annual Report to
Limited Partners for the year ended December 31, 2001, which is
incorporated by reference to Exhibit 13.01 of this Form 10-K. In
its capacity as the Partnership's retail commodity broker, Morgan
Stanley DW, received commodity brokerage commissions (paid and
accrued by the Partnership) of $749,037 for the year ended
December 31, 2001.

PART IV
Item 14. EXHIBITS, FINANCIAL STATEMENT SCHEDULES, AND REPORTS ON
FORM 8-K

(a) 1. Listing of Financial Statements
The following financial statements and report of independent auditors,
all appearing in the accompanying Annual Report to Limited Partners for
the year ended December 31, 2001 are incorporated by reference to
Exhibit 13.01 of this Form 10-K:
- - Report of Deloitte & Touche LLP, independent auditors, for the
years ended December 31, 2001, 2000 and 1999.

- - Statements of Financial Condition as of December 31, 2001 and
2000.

- - Schedule of Investments as of December 31, 2001.

- - Statements of Operations, Changes in Partners' Capital, and Cash
Flows for the years ended December 31, 2001, 2000 and 1999.

- - Notes to Financial Statements.
With the exception of the aforementioned information and the information
incorporated in Items 7, 8, and 13, the Annual Report to Limited
Partners for the year ended December 31, 2001 is not deemed to be filed
with this report.

2. Listing of Financial Statement Schedules
No financial statement schedules are required to be filed with this
report.

(b) Reports on Form 8-K
During the quarter ended December 31, 2001, the Current Report on Form
8-K was filed by the Partnership on November 13, 2001 for the purpose of
reporting, under Item 5, the relocation of offices of the Partnership
and Demeter; the transfer of futures and options clearing of the
Partnership to MS & Co.; and the replacement by MS & Co. as counterparty
on all foreign currency forward contracts for the Partnership.

(c) Exhibits
Refer to Exhibit Index on Page E-1 to E-2.

SIGNATURES

Pursuant to the requirements of Sections 13 or 15(d) 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.

DEAN WITTER GLOBAL PERSPECTIVE PORTFOLIO L.P.
(Registrant)

BY: Demeter Management Corporation,
General Partner

March 27, 2002 BY: /s/ Robert E. Murray
Robert E. Murray, Director,
Chairman of the Board and
President

Pursuant to the requirements of the Securities Exchange Act of 1934, this
report has been signed below by the following persons on behalf of the
registrant and in the capacities and on the dates indicated.

Demeter Management Corporation.

BY: /s/ Robert E. Murray March 27, 2002
Robert E. Murray, Director,
Chairman of the Board and
President

/s/ Mitchell M. Merin March 27, 2002
Mitchell M. Merin, Director

/s/ Joseph G. Siniscalchi March 27, 2002
Joseph G. Siniscalchi, Director

/s/ Edward C. Oelsner III March 27, 2002
Edward C. Oelsner III, Director

/s/ Richard A. Beech March 27, 2002
Richard A. Beech, Director

/s/ Raymond A. Harris March 27, 2002
Raymond A. Harris, Director

/s/ Anthony J. DeLuca March 27, 2002
Anthony J. DeLuca, Director

/s/ Raymond E. Koch March 27, 2002
Raymond E. Koch, Chief
Financial Officer and Principal
Accounting Officer

EXHIBIT INDEX

ITEM

3.01 Limited Partnership Agreement of the Partnership, dated as
of November 7, 1991, is incorporated by reference to Exhibit
3.01 and Exhibit 3.02 of the Partnership's Registration
Statement on Form S-1.

10.01 Management Agreements among the Partnership, Demeter and
A.O. Management, Inc., Chang Crowell and Millburn each dated
as of December 31, 1991, are incorporated by reference to
Exhibit 10.02 of the Partnership's Registration Statement on
Form S-1.

10.02 Management Agreement among the Partnership, Demeter
Management Corporation and ELM Financial Incorporated, dated
as of May 1, 1994, is incorporated by reference to Exhibit
10.03 of the Partnership's Annual Report on Form 10-K for
the fiscal year ended December 31, 1994.

10.03 Management Agreement among the Partnership, Demeter
Management Corporation and EMC Capital Management, Inc.,
dated as of June 1, 1994, is incorporated by reference to
Exhibit 10.04 of the Partnership's Annual Report on Form
10-K for the fiscal year ended December 31, 1994.

10.04 Amended and Restated Customer Agreement between the
Partnership and Morgan Stanley DW Inc., dated as of June 22,
2000, is incorporated by reference to Exhibit 10.01 of the
Partnership's Form 8-K (File No. 0-19901) filed with the
Securities and Exchange Commission on November 13, 2001.

10.05 Commodity Futures Customer Agreement between Morgan Stanley
& Co. Incorporated and the Partnership, and acknowledged and
agreed to by Morgan Stanley DW Inc., dated as of May 1,
2000, is incorporated by reference to Exhibit 10.02 of the
Partnership's Form 8-K (File No. 0-19901) filed with the
Securities and Exchange Commission on November 13, 2001.

10.06 Customer Agreement between the Partnership and Morgan
Stanley & Co. International Limited, dated as of May 1,
2000, is incorporated by reference to Exhibit 10.04 of the
Partnership's Form 8-K (File No. 0-19901) filed with the
Securities and Exchange Commission on November 13, 2001.

10.07 Foreign Exchange and Options Master Agreement between Morgan
Stanley & Co. Incorporated and the Partnership, dated as of
April 30, 2000, is filed herewith.

10.08 Securities Account Control Agreement among the Partnership,
Morgan Stanley & Co. Incorporated, and Morgan Stanley DW
Inc., dated as of May 1, 2000, is incorporated by reference
to Exhibit 10.03 of the Partnership's Form 8-K (File No. 0-
19901) filed with the Securities and Exchange Commission on
November 13, 2001.

13.01 Annual Report to Limited Partners for the year ended
December 31, 2001 is filed herewith.

21.01 Supplement (dated April 27, 1992) to the Prospectus is
incorporated by reference to the Partnership's Registration
Statement on Form S-1, Post Effective Amendment No. 1.

Global
Perspective
Portfolio

December 31, 2001
Annual Report

[LOGO] Morgan Stanley

Dean Witter Global Perspective Portfolio L.P.

Historical Fund Performance

Presented below is the percentage change in Net Asset Value per Unit from the
start of each calendar year the Fund has traded. Also provided is the
inception-to-date return and the annualized return since inception for
the Fund. PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS.

Year Return
- ---- ------

1992 (10 months) 4.6%
1993 -4.7%
1994 -31.6%
1995 16.8%
1996 9.3%
1997 11.1%
1998 11.2%
1999 -9.8%
2000 3.6%
2001 -1.4%

Inception-to-Date Return: -0.9%
Annualized Return: -0.1%

Demeter Management Corporation
c/o Managed Futures Department
825 Third Avenue, 8th Floor,
New York, NY 10022
Telephone (201) 876-4647

Dean Witter Global Perspective Portfolio L.P.
Annual Report
2001

Dear Limited Partner:

This marks the tenth annual report for the Dean Witter Global Perspective
Portfolio L.P. (the "Fund"). The Fund began the year trading at a Net Asset
Value per Unit of $1,005.36 and finished 2001 at a Net Asset Value of $990.95,
a net loss of 1.4%. The Fund has decreased 0.9% since its inception of trading
in March 1992 (a compound annualized rate of -0.1%)

During the year, the Fund recorded a decrease in Net Asset Value per Unit. The
most significant losses were recorded in the energy markets from positions in
crude oil and its refined products as a result of volatility in oil prices due
to a continually changing outlook for supply, production, and global demand.
Losses were also experienced primarily during the second and fourth quarters
from previously established long positions in European, Japanese and Australian
interest rate futures as prices reversed due to investors deserting fixed
income securities in favor of equities. A portion of the Fund's losses was
offset by gains experienced in the global stock index futures markets from
previously established short positions in DAX, Hang Seng, and Nikkei Index
futures as equity prices generally declined on fears regarding global economic
uncertainty. Additional gains were recorded during the fourth quarter from
previously established short positions in the Japanese yen as the value of the
yen continued to trend lower versus most major currencies amid growing concern
regarding the troubled Japanese economy.

Should you have any questions concerning this report, please feel free to
contact Demeter Management Corporation, c/o Managed Futures Department, 825
Third Avenue, 8th Floor, New York, NY 10022 or your Morgan Stanley Financial
Advisor.

I hereby affirm, that to the best of my knowledge and belief, the information
contained in this report is accurate and complete. Past performance is not a
guarantee of future results.

Sincerely,

/s/ Robert E. Murray

Robert E. Murray
Chairman
Demeter Management Corporation
General Partner

Dean Witter Global Perspective Portfolio L.P.

Independent Auditors' Report

The Limited Partners and the General Partner:

We have audited the accompanying statements of financial condition of Dean
Witter Global Perspective Portfolio L.P. (the "Partnership") as of December 31,
2001 and 2000, including the schedule of investments as of December 31, 2001,
and the related statements of operations, changes in partners' capital, and
cash flows for each of the three years in the period ended December 31, 2001.
These financial statements are the responsibility of the Partnership's
management. Our responsibility is to express an opinion on these financial
statements based on our audits.

We conducted our audits in accordance with auditing standards generally
accepted in the United States of America. Those standards require that we plan
and perform the audit to obtain reasonable assurance about whether the
financial statements are free of material misstatement. An audit includes
examining, on a test basis, evidence supporting the amounts and disclosures in
the financial statements. An audit also includes assessing the accounting
principles used and significant estimates made by management, as well as
evaluating the overall financial statement presentation. We believe that our
audits provide a reasonable basis for our opinion.

In our opinion, such financial statements present fairly, in all material
respects, the financial position of Dean Witter Global Perspective Portfolio
L.P. at December 31, 2001 and 2000 and the results of its operations and its
cash flows for each of the three years in the period ended December 31, 2001 in
conformity with accounting principles generally accepted in the United States
of America.

/s/ Deloitte & Touche LLP
New York, New York
February 15, 2002
(February 27, 2002 as to Note 7)

Dean Witter Global Perspective Portfolio L.P.

Statements of Financial Condition

December 31,
----------------------
2001 2000
---------- ----------
$ $

ASSETS

Equity in futures interests trading accounts:
Cash 9,974,326 9,831,603

Net unrealized gain on open contracts
(MS&Co.) 454,205 2,003,653
Net unrealized loss on open contracts
(MSIL) (73,956) (83,706)
---------- ----------
Total net unrealized gain on open contracts 380,249 1,919,947
---------- ----------
Total Trading Equity 10,354,575 11,751,550

Due from Morgan Stanley DW 27,333 23,246
Interest receivable (Morgan Stanley DW) 12,312 44,060
---------- ----------
Total Assets 10,394,220 11,818,856
========== ==========

LIABILITIES AND PARTNERS' CAPITAL

LIABILITIES
Redemptions payable 106,389 123,597
Accrued management fees 25,957 29,535
Accrued administrative expenses 11,275 4,670
---------- ----------
Total Liabilities 143,621 157,802
---------- ----------
PARTNERS' CAPITAL
Limited Partners (10,128.258 and 11,382.944
Units, respectively) 10,036,592 11,443,935
General Partner (215.962 Units) 214,007 217,119
---------- ----------
Total Partners' Capital 10,250,599 11,661,054
---------- ----------
Total Liabilities and
Partners' Capital 10,394,220 11,818,856
========== ==========

NET ASSET VALUE PER UNIT 990.95 1,005.36

========== ==========

The accompanying notes are an integral part of these financial statements.

Dean Witter Global Perspective Portfolio L.P.

Statements of Operations

For the Years Ended
December 31,
---------------------------------
2001 2000 1999
---------- --------- ----------
$ $ $

REVENUES
Trading profit (loss):
Realized 2,431,280 (65,193) 447,017
Net change in unrealized (1,539,698) 932,922 (823,956)
---------- --------- ----------
Total Trading Results 891,582 867,729 (376,939)
Interest income (Morgan Stanley
DW) 317,758 569,251 645,536
---------- --------- ----------
Total 1,209,340 1,436,980 268,597
---------- --------- ----------
EXPENSES
Brokerage commissions
(Morgan Stanley DW) 749,037 807,298 1,203,533
Management fees 346,722 361,865 527,136
Transaction fees and costs 98,208 91,326 155,326
Incentive fees 94,817 -- 13,757
Administrative expenses 28,820 27,710 43,819
---------- --------- ----------
Total 1,317,604 1,288,199 1,943,571
---------- --------- ----------
NET INCOME (LOSS) (108,264) 148,781 (1,674,974)
========== ========= ==========
Net Income (Loss) Allocation:
Limited Partners (105,152) 141,184 (1,652,120)
General Partner (3,112) 7,597 (22,854)
Net Income (Loss) per Unit:
Limited Partners (14.41) 35.18 (105.82)
General Partner (14.41) 35.18 (105.82)

Statements of Changes in Partners' Capital

For the Years Ended December 31, 2001, 2000 and 1999

Units of
Partnership Limited General
Interest Partners Partner Total
----------- ---------- ------- ----------
$ $ $

Partners' Capital,
December 31, 1998 17,646.093 18,754,867 232,376 18,987,243
Net loss -- (1,652,120) (22,854) (1,674,974)
Redemptions (2,344.035) (2,466,502) -- (2,466,502)
---------- ---------- ------- ----------
Partners' Capital,
December 31, 1999 15,302.058 14,636,245 209,522 14,845,767
Net income -- 141,184 7,597 148,781
Redemptions (3,703.152) (3,333,494) -- (3,333,494)
---------- ---------- ------- ----------
Partners' Capital,
December 31, 2000 11,598.906 11,443,935 217,119 11,661,054
Net loss -- (105,152) (3,112) (108,264)
Redemptions (1,254.686) (1,302,191) -- (1,302,191)
---------- ---------- ------- ----------
Partners' Capital,
December 31, 2001 10,344.220 10,036,592 214,007 10,250,599
========== ========== ======= ==========

The accompanying notes are an integral part of these financial statements.

Dean Witter Global Perspective Portfolio L.P.

Statements of Cash Flows

For the Years Ended
December 31,
----------------------------------
2001 2000 1999
---------- ---------- ----------
$ $ $

CASH FLOWS FROM
OPERATING ACTIVITIES
Net income (loss) (108,264) 148,781 (1,674,974)
Noncash item included in net
income (loss):
Net change in unrealized 1,539,698 (932,922) 823,956
Decrease (increase) in operating
assets:
Due from Morgan Stanley DW (4,087) 42,364 45,748
Interest receivable (Morgan
Stanley DW) 31,748 9,152 1,242
Increase (decrease) in operating
liabilities:
Accrued management fees (3,578) (8,451) (9,948)
Accrued administrative expenses 6,605 (4,821) (2,505)
---------- ---------- ----------
Net cash provided by (used
for) operating activities 1,462,122 (745,897) (816,481)
---------- ---------- ----------
CASH FLOWS FROM
FINANCING ACTIVITIES
Increase (decrease) in redemptions
payable (17,208) (187,062) 172,201
Redemptions of Units (1,302,191) (3,333,494) (2,466,502)
---------- ---------- ----------
Net cash used for financing
activities (1,319,399) (3,520,556) (2,294,301)
---------- ---------- ----------

Net increase (decrease) in cash 142,723 (4,266,453) (3,110,782)

Balance at beginning of period 9,831,603 14,098,056 17,208,838
---------- ---------- ----------
Balance at end of period 9,974,326 9,831,603 14,098,056
========== ========== ==========

The accompanying notes are an integral part of these financial statements.

Dean Witter Global Perspective Portfolio L.P.

Schedule of Investments
December 31, 2001

Partnership Net Assets: $10,250,599

Net
Unrealized
Long Short Gain/ Percentage of # of Contracts/
Futures and Forward Contracts: Gain/(Loss) Gain/(Loss) (Loss) Net Assets Notional Amounts
- ------------------------------ ----------- ----------- ---------- ------------- ----------------
$ $ $ %

Foreign currency 92,319 275,705 368,024 3.59 552,210,075
Interest rate (17,980) 65,479 47,499 0.46 430
Commodity (69,032) 34,632 (34,400) (0.33) 167
Equity 6,281 (26,836) (20,555) (0.20) 45
------- ------- ------- -----
Grand Total: 11,588 348,980 360,568 3.52
======= ======= =====
Unrealized Currency Gain 19,681
-------
Total Net Unrealized Gain per Statement of
Financial Condition 380,249
=======

The accompanying notes are an integral part of these financial statements.

Dean Witter Global Perspective Portfolio L.P.

Notes to Financial Statements

1. Summary of Significant Accounting Policies

Organization--Dean Witter Global Perspective Portfolio L.P. (the "Partnership")
is a limited partnership organized to engage primarily in the speculative
trading of futures contracts, options on futures contracts, and forward
contracts on physical commodities and other commodity interests
(collectively, "futures interests").

The general partner is Demeter Management Corporation ("Demeter"). The
non-clearing commodity broker is Morgan Stanley DW Inc. ("Morgan Stanley DW").
The clearing commodity brokers are Morgan Stanley & Co., Inc. ("MS&Co.") and
Morgan Stanley & Co. International Limited ("MSIL"). Demeter, Morgan Stanley
DW, MS&Co. and MSIL are wholly-owned subsidiaries of Morgan Stanley Dean Witter
& Co.

Effective April 2, 2001, Dean Witter Reynolds Inc. changed its name to Morgan
Stanley DW Inc.

The trading advisors for the Partnership are EMC Capital Management, Inc.
("EMC") and Millburn Ridgefield Corporation ("Millburn").

Demeter is required to maintain a 1% minimum interest in the equity of the
Partnership and income (losses) are shared by Demeter and the limited partners
based upon their proportional ownership interests.

Use of Estimates--The financial statements are prepared in accordance with
accounting principles generally accepted in the United States of America, which
require management to make estimates and assumptions that affect the reported
amounts in the financial statements and related disclosures. Management
believes that the estimates utilized in the preparation of the financial
statements are prudent and reasonable. Actual results could differ from those
estimates.

Revenue Recognition--Futures interests are open commitments until settlement
date. They are valued at market on a daily basis and the resulting net change
in unrealized gains and losses are reflected in the change in unrealized profit
(loss) on open contracts from one period to the next in the statements of
operations. Monthly, Morgan Stanley DW pays the Partnership interest income
based upon 80% of its average daily Net Assets for the month at a rate equal to
the average yield on 13-week U.S. Treasury bills. For purposes of such interest
payments, Net Assets do not include monies due the Partnership on futures
interests, but not actually received.

Net Income (Loss) per Unit--Net income (loss) per unit of limited partnership
interest ("Unit(s)") is computed using the weighted average number of Units
outstanding during the period.

Dean Witter Global Perspective Portfolio L.P.

Notes to Financial Statements--(Continued)

Condensed Schedule of Investments--In March 2001, the American Institute of
Certified Public Accountants' Accounting Standards Executive Committee issued
Statement of Position ("SOP") 01-1, "Amendment to the Scope of Statement of
Position 95-2, Financial Reporting by Nonpublic Investment Partnerships, to
Include Commodity Pools" effective for fiscal years ending after December 15,
2001. Accordingly, commodity pools are now required to include a condensed
schedule of investments identifying those investments which constitute more
than 5% of net assets, taking long and short positions into account separately.

Equity in Futures Interests Trading Accounts--The Partnership's asset "Equity
in futures interests trading accounts," reflected in the statements of
financial condition consists of (A) cash on deposit with Morgan Stanley DW,
MS&Co. and MSIL to be used as margin for trading; (B) net unrealized gains or
losses on open contracts, which are valued at market and calculated as the
difference between original contract value and market value, and (C) net option
premiums, which represent the net of all monies paid and/or received for such
option premiums.

The Partnership, in the normal course of business, enters into various
contracts with MS&Co. and MSIL acting as its commodity brokers. Pursuant to
brokerage agreements with MS&Co. and MSIL, to the extent that such trading
results in unrealized gains or losses, the amounts are offset and reported on a
net basis on the Partnership's statements of financial condition.

The Partnership has offset the fair value amounts recognized for forward
contracts executed with the same counterparty as allowable under terms of the
master netting agreement with MS&Co., the sole counterparty on such contracts.
The Partnership has consistently applied its right to offset.

Brokerage Commissions and Related Transaction Fees and Costs--The Partnership
accrues brokerage commissions on a half-turn basis at 80% of Morgan Stanley
DW's published non-member rates. Transaction fees and costs are accrued on a
half-turn basis. Brokerage commissions and transaction fees combined are capped
at 13/20 of 1% per month (a maximum 7.8% annual rate) of Net Assets.

Operating Expenses--The Partnership bears all operating expenses related to its
trading activities, to a maximum of 1/4 of 1% annually of the Partnership's
average month-end Net Assets. These include filing fees, clerical,
administrative, auditing, accounting, mailing, printing, and other incidental
operating expenses as permitted by the Limited Partnership Agreement. In
addition, the Partnership incurs a monthly management fee and may incur an
incentive fee. Demeter bears all other operating expenses.

Dean Witter Global Perspective Portfolio L.P.

Notes to Financial Statements--(Continued)

Redemptions--Limited Partners may redeem some or all of their Units at 100% of
the Net Asset Value per Unit as of the last day of any month upon five business
days advance notice by redemption form to Demeter.

Distributions--Distributions, other than redemptions of Units, are made on a
pro-rata basis at the sole discretion of Demeter. No distributions have been
made to date.

Income Taxes--No provision for income taxes has been made in the accompanying
financial statements, as partners are individually responsible for reporting
income or loss based upon their respective share of the Partnership's revenues
and expenses for income tax purposes.

Dissolution of the Partnership--The Partnership will terminate on December 31,
2025, or at an earlier date if certain conditions set forth in the Limited
Partnership Agreement occur.

2. Related Party Transactions

The Partnership pays brokerage commissions to Morgan Stanley DW as described in
Note 1. The Partnership's cash is on deposit with Morgan Stanley DW, MS&Co.,
and MSIL in futures interests trading accounts to meet margin requirements as
needed. Morgan Stanley DW pays interest on these funds as described in Note 1.

3. Trading Advisors

Compensation to EMC and Millburn consists of a management fee and an incentive
fee as follows:

Management Fee--The Partnership pays a monthly management fee equal to 1/4 of
1% per month (a 3% annual rate) of the Partnership's adjusted Net Assets, as
defined in the Limited Partnership Agreement, as of the last day of each month.

Incentive Fee--The Partnership pays a quarterly incentive fee to each trading
advisor equal to 17.5% of trading profits experienced by the Net Assets
allocated to such trading advisor as of the end of each calendar quarter.
Trading profits represent the amount by which profits from futures, forward and
options trading exceed losses, after brokerage commissions, management fees,
transaction fees and costs and administrative expenses are deducted. If a
trading advisor has experienced trading losses with respect to its allocated
Net Assets at the time of any supplemental closing, the trading advisor must
earn back such losses plus a pro rata amount related to the funds allocated to
the trading advisor at such supplemental closing to be eligible for an
incentive fee. Such

Dean Witter Global Perspective Portfolio L.P.

Notes to Financial Statements--(Continued)

incentive fee is accrued in each month in which trading profits occur. In those
months in which trading profits are negative, previous accruals, if any, during
the incentive period are reduced. In those instances in which a limited partner
redeems Units, the incentive fee (earned through a redemption date) is paid to
such trading advisor on those Units redeemed in the month of such redemptions.

4. Financial Instruments

The Partnership trades futures contracts, options on futures contracts, and
forward contracts on physical commodities and other commodity interests.
Futures and forwards represent contracts for delayed delivery of an instrument
at a specified date and price. Risk arises from changes in the value of these
contracts and the potential inability of counterparties to perform under the
terms of the contracts. There are numerous factors which may significantly
influence the market value of these contracts, including interest rate
volatility.

The Partnership accounts for its derivative investments in accordance with the
provisions of Statement of Financial Accounting Standard No. 133, "Accounting
for Derivative Instruments and Hedging Activities" ("SFAS No. 133"). SFAS No.
133 defines a derivative as a financial instrument or other contract that has
all three of the following characteristics:

(1)One or more underlying notional amounts or payment provisions;

(2)Requires no initial net investment or a smaller initial net investment than
would be required relative to changes in market factors;

(3)Terms require or permit net settlement.

Generally derivatives include futures, forward, swaps or options contracts and
other financial instruments with similar characteristics such as caps, floors
and collars.

The net unrealized gains (losses) on open contracts at December 31, reported as
a component of "Equity in futures interests trading accounts" on the statements
of financial condition, and their longest contract maturities were as follows:

Net Unrealized Gains
on Open Contracts Longest Maturities
----------------------------- --------------------
Off- Off-
Exchange- Exchange- Exchange- Exchange-
Year Traded Traded Total Traded Traded
---- --------- --------- --------- --------- ----------
$ $ $

2001 111,366 268,883 380,249 June 2002 March 2002
2000 1,419,017 500,930 1,919,947 Sep. 2001 March 2001

Dean Witter Global Perspective Portfolio L.P.

Notes to Financial Statements--(Continued)

The Partnership has credit risk associated with counterparty nonperformance.
The credit risk associated with the instruments in which the Partnership is
involved is limited to the amounts reflected in the Partnership's statements of
financial condition.

The Partnership also has credit risk because Morgan Stanley DW, MS&Co., and
MSIL act as the futures commission merchants or the counterparties with respect
to most of the Partnership's assets. Exchange-traded futures and futures-styled
options contracts are marked to market on a daily basis, with variations in
value settled on a daily basis. Morgan Stanley DW, MS&Co. and MSIL, each as a
futures commission merchant for all of the Partnership's exchange-traded
futures and futures-styled options contracts, are required, pursuant to
regulations of the Commodity Futures Trading Commission to segregate from their
own assets, and for the sole benefit of their commodity customers, all funds
held by them with respect to exchange-traded futures and futures-styled options
contracts including an amount equal to the net unrealized gains on all open
futures and futures-styled options contracts, which funds, in the aggregate,
totaled $10,085,692 and $11,250,620 at December 31, 2001 and 2000,
respectively. With respect to the Partnership's off-exchange-traded forward
currency and options contracts, there are no daily settlements of variations in
value nor is there any requirement that an amount equal to the net unrealized
gains on open forward and option contracts be segregated. With respect to those
off-exchange-traded forward currency contracts, the Partnership is at risk to
the ability of MS&Co., the sole counterparty on all of such contracts, to
perform. The Partnership has a netting agreement with MS&Co. This agreement,
which seeks to reduce both the Partnership's and MS&Co.'s exposure on
off-exchange-traded forward currency contracts, should materially decrease the
Partnership's credit risk in the event of MS&Co.'s bankruptcy or insolvency.

5. Financial Highlights

PER UNIT:
---------

NET ASSET VALUE, JANUARY 1, 2001: $1,005.36
---------
NET OPERATING RESULTS:
Realized Profit 216.02
Unrealized Loss (139.71)
Interest Income 28.83
Expenses (119.55)
---------
Net Loss (14.41)
---------
NET ASSET VALUE, DECEMBER 31, 2001: $ 990.95
=========
Expense Ratio 11.5%
Net Loss Ratio (0.9)%

TOTAL RETURN (1.4)%

Dean Witter Global Perspective Portfolio L.P.

Notes to Financial Statements--(Concluded)

6. Legal Matters

In April 2001, the Appellate Division of New York State dismissed the class
action previously disclosed in the Partnership's Annual Report for the year
ended December 31, 2000. Because plaintiffs did not exercise their right to
appeal any further, this dismissal constituted a final resolution of the case.

7. Subsequent Event

On February 27, 2002, the Partnership received notification of a preliminary
entitlement to payment from the Sumitomo Copper Litigation Settlement
Administrator. Such preliminary award, however, is subject to a court hearing
scheduled on April 10, 2002 and is entirely contingent on the court's final
approval. Any amount ultimately received will be accounted for in the period
received, for the benefit of the limited partners at the date of receipt.

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