FORM 10-Q
UNITED STATES
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: September 30, 2002
or
[ ] Transition Report Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Commission File Number: 33-50388
THE MILLBURN GLOBAL OPPORTUNITY FUND L.P.
(Exact name of registrant as specified in its charter)
Delaware 06-1346-879
(State or other jurisdiction (I.R.S. Employer
of incorporation or organization) Identification No.)
c/o MILLBURN RIDGEFIELD CORPORATION
411 West Putnam Avenue
Greenwich, Connecticut 06830
(Address of principal executive offices)
Registrant's telephone number, including area code: (203) 625-7554
Securities registered pursuant to Section 12(b) of the Act: None
Securities registered pursuant Limited Partnership Units
to Section 12(g) of the Act: (Title of Class)
Indicate by check mark whether the registrant (1) 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 whether the registrant is an accelerated filer
(as defined in Rule 12b-2 of the Exchange Act).
Yes [ ] No [X]
THE MILLBURN GLOBAL OPPORTUNITY FUND L.P. INDEX
Part I - Financial Information
Financial Statements: Pages
Statements of Financial Condition at
September 30, 2002 and December 31, 2001 (unaudited) 1
Statements of Operations for the Three Months
Ended September 30, 2002 and 2001 (unaudited) 2-3
Statements of Operations for the nine Months
Ended September 30, 2002 and 2001 (unaudited) 4-5
Condensed Schedule of Investments at
September 30, 2002 (unaudited) 6-7
Statements of Changes in Partners' Capital for the
Three Months Ended September 30, 2002 and 2001 (unaudited) 8
Statements of Changes in Partners' Capital for the
nine Months Ended September 30, 2002 and 2001 (unaudited) 9
Financial Highlights for the Three Months Ended
September 30, 2002 and 2001 (unaudited) 10
Financial Highlights for the nine Months Ended
September 30, 2002 and 2001 (unaudited) 11
Notes to Financial Statements (unaudited) 12-14
Part II - Other Information 15-21
PART I. FINANCIAL INFORMATION Page 1
ITEM I. FINANCIAL STATEMENTS
THE MILLBURN GLOBAL OPPORTUNITY FUND L.P.
Statements of Financial Condition (UNAUDITED)
30-Sep-02 31-Dec-01
Assets: ------------- -------------
Cash $ 266,958 $ 106,743
Cash denominated in foreign currencies
(cost $0,000 and $21,308 at September 30,2002
and December 31, 2001) 0 20,159
Investments in U.S. Treasury notes
- at value (amortized cost $1,324,244 and
$1,459,586 at September 30, 2002 and
Dec. 31, 2001) 1,325,781 1,468,056
Unrealized appreciation/(depreciation)
on open contracts 366,172 258,196
------------- -------------
Total equity in trading accounts 1,958,911 1,853,154
Investments in U.S. Treasury notes
- at value (amortized cost $4,401,356
and $4,495,022 at September 30, 2002 and
Dec. 31, 2001) 4,403,194 4,503,659
Money market fund 424,830 335,147
Accrued interest receivable 85,193 96,076
------------- -------------
Total Assets $ 6,872,128 $ 6,788,036
============= =============
Liabilities & Partners' Capital:
Due to broker $ 156,222 $ 0
Accrued expenses 202 42,416
Redemptions payable to limited partners 415,467 179,639
Incentive fee payable 4,620 0
Accrued brokerage commissions 41,672 40,346
------------- -------------
Total Liabilities 618,183 262,401
Partners' Capital:
General Partner 388,357 571,851
Limited Partners (3,247.165 & 4,296.678
Limited Partnership Units outstanding
at September 30, 2002 and Dec. 31, 2001,
respectively) 5,865,588 5,953,784
------------- -------------
Total Partners' Capital 6,253,945 6,525,635
------------- -------------
Total Liabilities and Partners' Capital $ 6,872,128 $ 6,788,036
============= =============
Net Asset Value per Unit $ 1,806.37 $ 1,385.67
============= =============
See accompanying notes to financial statements.
THE MILLBURN GLOBAL OPPORTUNITY FUND L.P. Page 2
Statements of Operations
For the three months ended September 30, 2002 and 2001 (UNAUDITED)
Sep 30, 2002 Sep 30, 2001
------------ ------------
Investment income
Interest income $ 28,319 $ 94,615
------------ ------------
Expenses
Administrative expenses 6,218 19,624
Brokerage commissions 130,033 130,011
------------ ------------
Total expenses 136,251 149,635
------------ ------------
Total investment loss (107,932) (55,020)
------------ ------------
Realized and unrealized gains (losses)
Net gains(losses) on trading of
futures and forward contracts
Net realized gains (losses) on
closed positions:
Futures and forward contracts 1,474,151 319,616
------------ ------------
Net realized gains (losses on
closed positions 1,474,151 319,616
------------ ------------
Net change in unrealized appreciation
(depreciation)
Futures and forward contracts (536,416) 40,996
Foreign exchange translation 249 (3,663)
------------ ------------
Net change in unrealized
appreciation (depreciation) (536,167) 37,333
------------ ------------
Net realized and unrealized gains
(losses) on trading of futures
and forward contracts and foreign
exchange translation 937,984 356,949
------------ ------------
Net gains (losses) from U.S. Treasury
obligations
Net realized gains 0 15,614
Net change in unrealized
appreciation (depreciation) (106) (23,732)
------------ ------------
Net gains (losses) from U.S.
Treasury obligations (106) (8,118)
------------ ------------
Total net realized and
unrealized gains (losses) 937,878 348,831
------------ ------------
Net income (loss) $ 829,946 $ 293,811
------------ ------------
THE MILLBURN GLOBAL OPPORTUNITY FUND L.P. Page 3
Statements of Operations
For the three months ended September 30, 2002 and 2001 (UNAUDITED) (Continued)
Sep 30, 2002 Sep 30, 2001
------------ ------------
Less profit share to General Partner $ 4,620 $ 0
------------ ------------
Net income (loss) for allocation
to partners $ 825,326 $ 293,811
------------ ------------
Net income per unit of beneficial
interest $ 213.25 $ 57.09
------------ ------------
See accompanying notes to financial statements.
THE MILLBURN GLOBAL OPPORTUNITY FUND L.P. Page 4
Statements of Operations For the nine months ended September 30, 2002 and
2001 (UNAUDITED)
Sep 30, 2002 Sep 30, 2001
------------ ------------
Investment income
Interest income $ 97,755 $ 295,683
------------ ------------
Expenses
Administrative expenses 18,657 58,868
Brokerage commissions 369,995 422,842
------------ ------------
Total expenses 388,652 481,710
------------ ------------
Total investment loss (290,897) (186,027)
------------ ------------
Realized and unrealized gains (losses)
Net gains(losses) on trading of futures
and forward contracts
Net realized gains (losses) on closed
positions:
Futures and forward contracts 1,939,478 1,785,038
Foreign exchange transactions 0 0
------------ ------------
Net realized gains (losses on
closed positions 1,939,478 1,785,038
------------ ------------
Net change in unrealized appreciation
(depreciation)
Futures and forward contracts 107,976 (1,035,751)
Foreign exchange translation 560 (15,637)
------------ ------------
Net change in unrealized
appreciation (depreciation) 108,536 (1,051,388)
------------ ------------
Net realized and unrealized gains
(losses) on trading of futures
and forward contracts and
foreign exchange translation 2,048,014 733,650
------------ ------------
Net gains (losses) from U.S. Treasury
obligations
Net realized gains 0 35,301
Net change in unrealized appreciation
(depreciation) (13,732) (41,683)
------------ ------------
Net gains (losses) from U.S.
Treasury obligations (13,732) (6,382)
------------ ------------
Total net realized and unrealized
gains (losses) 2,034,282 727,268
------------ ------------
Net income (loss) $ 1,743,385 $ 541,241
------------ ------------
THE MILLBURN GLOBAL OPPORTUNITY FUND L.P. Page 5
Statements of Operations For the nine months ended September 30, 2002 and
2001 (UNAUDITED) (Continued)
Sep 30, 2002 Sep 30, 2001
------------ ------------
Less profit share to General Partner $ 4,620 $ 0
------------ ------------
Net income (loss) for allocation
to partners $ 1,738,765 $ 541,241
------------ ------------
Net income per unit of beneficial
interest $ 420.70 $ 91.66
------------ ------------
See accompanying notes to financial statements.
THE MILLBURN GLOBAL OPPORTUNITY FUND L.P. Page 6
Condensed Schedule of Investments at September 30, 2002 (UNAUDITED)
Net Unrealized
Appreciation/
(Depreciation) Net Unrealized
as a percentage of Appreciation/
Futures and Forward Contracts Partners' Capital (Depreciation)
----------------------------- ------------------ ---------------
Futures Contracts Purchased 6.30%
Interest Rates $ 388,922
Metals 5,330
---------------
Total Futures Contracts Purchased 394,252
---------------
Futures Contracts Sold 0.68%
Interest Rates (8,297)
Metals (5,181)
Stock Indices 56,113
---------------
Total Futures Contracts Sold 42,635
---------------
Total investment in futures contracts 6.98% 436,887
---------------
Total Forward Contracts Purchased 0.56% 35,036
---------------
Forward Contracts Sold -1.69% (105,751)
---------------
Total investment in forward
contracts -1.13% (70,715)
---------------
Total Investments in futures and
forward contracts 5.85% $ 366,172
===============
See accompanying notes to financial statements.
THE MILLBURN GLOBAL OPPORTUNITY FUND L.P. Page 7
Condensed Schedule of Investments at September 30, 2002 (UNAUDITED) (Continued)
Value as a %
of Partners'
Face Amount Investments in U.S. Treasury Notes Capital Value
- ----------- ---------------------------------- ------------ ------------
Government - United States 91.64%
$2,060,000 U.S. Treasury notes, 4.000%, 4/30/2003 $ 2,090,256
1,810,000 U.S. Treasury notes, 5.75%, 10/31/2002 1,815,656
1,800,000 U.S. Treasury notes, 4.625%, 2/28/2003 1,823,063
-----------
Total investments in U.S. Treasury
notes (amortized cost $5,725,600) 91.61% $5,728,975
-----------
Percent of Net Unrealized
Currency Composition - Unrealized to Appreciation/
Futures & Forward Contracts Total Unrealized (Depreciation)
----------------- ---------------
British Pound 0.03% $ 103
Euro 48.54% 177,744
Hong Kong Dollar 1.11% 4,077
Japanese Yen 7.15% 26,185
Norwegian krona 1.41% 5,180
U.S. Dollar 41.76% 152,883
----------------- --------------
Total 100.00% $ 366,172
================= ==============
See accompanying notes to financial statements.
THE MILLBURN GLOBAL OPPORTUNITY FUND L.P. Page 8
Statement of Partners' Capital
For the three months ended September 30, 2002 (UNAUDITED)
Limited General
Partners Partner Total
------------ ------------ ------------
Partners' Capital at June 30,
2002 (3,772.130 Units) $ 6,009,436 $ 335,246 $ 6,344,682
Redemption of (524.965) Units (916,063) 0 (916,063)
Net Income(Loss) 772,215 53,111 825,326
------------ ------------ -------------
Partners' Capital at September 30, $ 5,865,588 $ 388,357 $ 6,253,945
2002 (3,247.165 Units) ============ ============ =============
Net Asset Value per Unit
at September 30, 2002 $ 1,806.37
============
Statement of Partners' Capital
For the three months ended September 30, 2001 (UNAUDITED)
Limited General
Partners Partner Total
------------ ------------ ------------
Partners' Capital at June 30,
2001 (4,573.801 Units) $ 6,207,134 $ 537,353 $ 6,744,487
Redemption of (46.118) Units (63,586) 0 (63,586)
Net Income(Loss) 259,495 34,316 293,811
------------ ------------ ------------
Partners' Capital at September 30, $ 6,403,043 $ 571,669 $ 6,974,712
2001 (4,527.683 Units) ============ ============ ============
Net Asset Value per Unit
at September 30, 2001 $ 1,414.20
============
See accompanying notes to financial statements.
THE MILLBURN GLOBAL OPPORTUNITY FUND L.P. Page 9
Statement of Partners' Capital
For the nine months ended September 30, 2002 (UNAUDITED)
Limited General
Partners Partner Total
------------ ------------ ------------
Partners' Capital at December 31,
2001 (4,296.678 Units) $ 5,953,784 $ 571,851 $ 6,525,635
Redemption of (1,049.513) Units (1,660,455) (350,000) (2,010,455)
Net Income(Loss) 1,572,259 166,506 1,738,765
------------ ------------ ------------
Partners' Capital at September 30,
2002 (3,247.165 Units) $ 5,865,588 $ 388,357 $ 6,253,945
============ ============ ============
Net Asset Value per Unit
at September 30, 2002 $ 1,806.37
============
Statement of Partners' Capital
For the nine months ended September 30, 2001 (UNAUDITED)
Limited General
Partners Partner Total
------------ ------------ ------------
Partners' Capital at December 31,
2000 (5,415.782 Units) $ 7,162,609 $ 1,141,446 $ 8,304,055
Redemption of (888.099) Units (1,220,584) (650,000) (1,870,584)
Net Income(Loss) 461,018 80,223 541,241
------------ ------------ ------------
Partners' Capital at September 30, $ 6,403,043 $ 571,669 $ 6,974,712
2001 (4,527.683 Units) ============ ============ ============
Net Asset Value per Unit
at September 30, 2001 $ 1,414.20
============
See accompanying notes to financial statements.
THE MILLBURN GLOBAL OPPORTUNITY FUND L.P. Page 10
Financial Highlights (Unaudited)
Per unit operating performance for the three months ended
September 30, 2002 and 2001 (unaudited) were as follows:
Sep 30, 2002 Sep 30, 2001
-------------- --------------
Net income (loss) from operations:
Net investment loss $ (30.37) $ (18.08)
Net realized and unrealized
gains (losses) on trading of
futures and forward contracts 245.12 80.22
Net gains (losses) from U.S.
Treasury obligations (0.18) (5.05)
Profit share expense (1.32) 0.00
-------------- --------------
Net income (loss) per unit 213.25 57.09
Net asset value per Unit,
beginning of period 1,593.12 1,357.11
-------------- --------------
Net asset value per Unit,
end of Period $ 1,806.37 $ 1,414.20
============== ==============
Total return and ratios for the three months ended
September 30, 2002 (UNAUDITED):
Total return: 13.39%
Ratio of expenses to average net assets: 8.60% (annualized)
Ratio of net investment loss to average net assets: -6.90% (annualized)
See accompanying notes to financial statements.
THE MILLBURN GLOBAL OPPORTUNITY FUND L.P. Page 11
Financial Highlights (Unaudited)
Per unit operating performance for the nine months ended
September 30, 2002 and 2001 (unaudited) were as follows:
Sep 30, 2002 Sep 30, 2001
-------------- --------------
Net income (loss) from operations:
Net investment loss $ (75.58) $ (43.24)
Net realized and unrealized
gains (losses) on trading of
futures and forward contracts 501.05 143.77
Net gains (losses) from U.S.
Treasury obligations (3.45) (8.87)
Profit share expense (1.32) 0.00
-------------- --------------
Net income (loss) per unit 420.70 91.66
Net asset value per Unit,
beginning of period 1,385.67 1,322.54
-------------- --------------
Net asset value per Unit,
end of Period $ 1,806.37 $ 1,414.20
============== ==============
Total return and ratios for the nine months ended
September 30, 2002 (UNAUDITED):
Total return: 30.36%
Ratio of expenses to average net assets: 9.07% (annualized)
Ratio of net investment loss to average net assets: -6.96% (annualized)
See accompanying notes to financial statements.
THE MILLBURN GLOBAL OPPORTUNITY FUND L.P. Page 12
NOTES TO FINANCIAL STATEMENTS (unaudited)
The accompanying financial statements are unaudited but, in the opinion of
management, include all adjustments (consisting only of normal recurring
adjustments) necessary for a fair presentation of the Partnership's financial
condition at September 30, 2002 (unaudited) and December 31, 2001 and the
results of its operations for the three month and nine month periods ended
September 30, 2002 and 2001. These financial statements present the results of
interim periods and do not include all disclosures normally provided in
annual financial statements. It is suggested that these financial statements
be read in conjunction with the financial statements and notes included in
the Partnership's annual report on Form 10-K filed with the Securities and
Exchange Commission for the year ended December 31, 2001.
ITEM II. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND
RESULTS OF OPERATIONS
Reference is made to Item 1, "Financial Statements" The information
contained therein is essential to, and should be read in conjuction with,
the following analysis.
OPERATIONAL OVERVIEW
Due to the nature of the Partnership's business, its results of operations
depend on the General Partner's ability to recognize and capitalize on
trends and other profit opportunities in different sectors of the global
capital markets. The General Partner's trading methods are confidential,
so that substantially the only information that can be furnished regarding
the Partnership's results of operations is contained in the performance
record of its trading. Unlike operating businesses, general economic or
seasonal conditions do not directly affect the profit potential of the
Partnership, and its past performance is not necessarily indicative of future
results. Because of the speculative nature of its trading, operational or
economic trends have little relevance to the Partnership's results. The
General Partner believes that there are certain market conditions, for
example, markets with strong price trends, in which the Partnership has a
better likelihood of being profitable than in others.
LIQUIDITY AND CAPITAL RESOURCES
The Partnership does not intend to raise any additional capital because it
is a closed-end fund and cannot sell any more Units unless it undertakes a
new public offering, which would require another registration with the
Securities and Exchange Commission. The Partnership does not engage in
borrowing.
The Partnership trades futures, options and forward contracts primarily on
currencies and secondarily on financial instruments. Due to the nature of
the Partnership's business, it will make no significant capital expenditures,
and substantially all its assets are and will be represented by cash
equivalents or deposits in money market funds, United States Treasury
securities, and investments in futures, forward contracts and related
options.
THE MILLBURN GLOBAL OPPORTUNITY FUND L.P. Page 13
The Partnership's assets are either held in cash or are invested by
the General Partner in United States Treasury bills or notes. To the
extent deposited as margin with currency dealers or futures brokers,
the Partnership's assets are subject to the General Partner's ability
to close out its currency futures or forward contracts positions. The
Partnership could be prevented from promptly liquidating unfavorable
positions, thereby subjecting the Partnership to substantial losses
which could exceed the margin initially committed to such trades.
In addition, the Partnership may not be able to execute forward
contract trades at favorable prices if little trading in the contracts
it holds is taking place. Other than these limitations on liquidity,
which are inherent in the Partnership's trading operations, the
Partnership's assets are highly liquid and are expected to remain so.
During its operations for the three-month period ended September 30, 2002,
the Partnership experienced no meaningful periods of illiquidity in
any of the markets traded by the Partnership.
RESULTS OF OPERATIONS
30-Sep-02 30-Jun-02
------------- -------------
Ending Equity $ 6,253,945 $ 6,344,682
Due to the nature of commodity trading, the results of operations for the
interim period presented should not be considered indicative of the results
that may be expected for the entire year.
The Partnership's net assets decreased 0.97% in the third quarter of 2002.
This decrease was attributable to redemptions of $916,063, which was
partially offset by net income from operations of $825,326.
Brokerage commissions are calculated on the net asset value on the last day
of each month and are affected by trading performance and redemptions.
Brokerage commissions for the three months ended September 30, 2002
increased by $22, relative to the corresponding period in 2001.
The Partnership's net asset value per unit registered a double-digit gain
for the quarter, increasing 13.39%. Trading of interest rate, stock index
and metal futures was profitable, while currency trading resulted in losses.
Interest rates on government debt declined sharply during the summer. Hence,
the partnership's long positions in German 5 and 10-year bonds, U.S.
Treasury 5 and 10-year notes and the 30-year bond, and short-term eurodollar
deposits were profitable. A long Japanese government bond position was also
profitable, although the size of the gain was cut in half after a major
sell-off in JGB's followed the Bank of Japan's announcement that it would
purchase stocks from major banks.
Global stock markets declined further during the quarter. Short positions
in German, Hong Kong, Japanese, and U.S. stock index futures were quite
profitable.
THE MILLBURN GLOBAL OPPORTUNITY FUND L.P. Page 14
In the metals sector of the portfolio, a short aluminum trade generated a
modest gain that more than offset a fractional loss on a short gold trade.
Currency trading, on the other hand, was unprofitable during the July-
September period. The sustained dollar decline that had characterized
the second quarter came to an end in the third quarter. A trend reversal
that started in late July was followed by volatile but generally non-
directional market activity thereafter. Hence, short dollar positions
relative to the yen, euro, Korean won, and Swiss franc produced losses,
and were closed or reversed to long positions. Non-dollar cross rate
trading had no significant impact on NAV for the quarter.
ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK
Not applicable. The Partnership is a small business issuer.
ITEM 4. CONTROLS AND PROCEDURES
Millburn Ridgefield Corporation, the General Partner of the Partnership,
with the participation of the General Partner's Co-Chief Executive
Officers and Chief Financial Officer, has evaluated the effectiveness
of the design and operation of its disclosure controls and procedures
with respect to the Partnership within 90 days of the filing date of
this quarterly report, and, based on their evaluation, have concluded
that these disclosure controls and procedures are effective. There
were no significant changes in the General Partner's internal controls
with respect to the Partnership or in other factors applicable to the
Partnership that could significantly affect these controls subsequent
to the date of their evaluation.
THE MILLBURN GLOBAL OPPORTUNITY FUND L.P. Page 15
PART II. OTHER INFORMATION
ITEM I. Legal Proceedings - None
ITEM 2. Changes in Securities and Use of Proceeds - None
ITEM 3. Defaults Upon Senior Securities - None
ITEM 4. Submission of Matters to a Vote of Security Holders - None
ITEM 5. Other Information - None
ITEM 6. (a) Exhibits -
99(a) - Certification of Co-Chief Executive Officer
99(b) - Certification of Co-Chief Executive Officer
99(c) - Certification of Chief Financial Officer
(b) Reports on Form 8-K - None
SIGNATURES
Pursuant to the requirements of Section 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, in the
City of New York and State of New York on the 29th day of October, 2002.
THE MILLBURN GLOBAL OPPORTUNITY FUND L.P.
By: Millburn Ridgefield Corporation,
General Partner
Date: October 29, 2002
/s/Tod A. Tanis
Tod A. Tanis
Vice-President
(principal accounting officer)
THE MILLBURN GLOBAL OPPORTUNITY FUND L.P. Page 16
Exhibit 99 (a)
CERTIFICATION OF CO-CHIEF EXECUTIVE OFFICER
I, George E. Crapple, Co-Chief Executive Officer of Millburn Ridgefield
Corporation, the General Partner of The Millburn Global Opportunity Fund
(the "Partnership"), do hereby certify that:
1. I have reviewed this quarterly report on Form 10-Q of The Millburn
Global Opportunity Fund;
2. Based on my knowledge, this quarterly report does not contain any untrue
statement of a material fact or omit to state a material fact necessary to
make the statements made, in light of the circumstances under which such
statements were made, not misleading with respect to the period covered by
this quarterly report;
3. Based on my knowledge, the financial statements, and other financial
information included in this quarterly report, fairly present in all material
respects the financial condition, results of operations and cash flows of the
Partnership as of, and for, the periods presented in this quarterly report;
4. The Partnership's other certifying officers and I are responsible for
establishing and maintaining disclosure controls and procedures (as such term
is defined in paragraph (c) of Exchange Act Rule 15d-14) for the Partnership
and we have:
(i) designed such disclosure controls and procedures to ensure that material
information relating to the Partnership, including its consolidated
subsidiaries, is made known to us by others within those entities, particularly
during the period in which this quarterly report is being prepared;
(ii) evaluated the effectiveness of the Partnership's disclosure controls and
procedures as of a date within 90 days prior to the filing date of this
quarterly report (the "Evaluation Date"); and
(iii) presented in this quarterly report our conclusions about the
effectiveness of the disclosure controls and procedures based on our evaluation
as of the Evaluation Date;
5. The Partnership's other certifying officers and I have disclosed, based on
our most recent evaluation, to the Partnership's auditors and the audit
committee of the Partnership's board of directors (or persons performing the
equivalent functions):
(i) all significant deficiencies in the design or operation of internal
controls which could adversely affect the Partnership's ability to record,
process, summarize and report financial data and have identified for the
Partnership's auditors any material weaknesses in internal controls; and
(ii) any fraud, whether or not material, that involves management or other
employees who have a significant role in the Partnership's internal controls;
and
THE MILLBURN GLOBAL OPPORTUNITY FUND L.P. Page 17
6. The Partnership's other certifying officers and I have indicated in this
quarterly report whether or not there were significant changes in internal
controls or in other factors that could significantly affect internal controls
subsequent to the date of our most recent evaluation, including any corrective
actions with regard to significant deficiencies and material weaknesses.
By: /s/ George E. Crapple
__________________________________
George E. Crapple
Co-Chief Executive Officer
November 12, 2002
THE MILLBURN GLOBAL OPPORTUNITY FUND L.P. Page 18
Exhibit 99 (b)
CERTIFICATION OF CO-CHIEF EXECUTIVE OFFICER
I, Harvey Beker, Co-Chief Executive Officer of Millburn Ridgefield Corporation,
the General Partner of The Millburn Global Opportunity Fund (the "Fund"), do
hereby certify that:
1. I have reviewed this quarterly report on Form 10-Q of The Millburn Global
Opportunity Fund;
2. Based on my knowledge, this quarterly report does not contain any untrue
statement of a material fact or omit to state a material fact necessary to make
the statements made, in light of the circumstances under which such statements
were made, not misleading with respect to the period covered by this quarterly
report;
3. Based on my knowledge, the financial statements, and other financial
information included in this quarterly report, fairly present in all material
respects the financial condition, results of operations and cash flows of the
Partnership as of, and for, the periods presented in this quarterly report;
4. The Partnership's other certifying officers and I are responsible for
establishing and maintaining disclosure controls and procedures (as such term is
defined in paragraph (c) of Exchange Act Rule 15d-14) for the Partnership and we
have:
(i) designed such disclosure controls and procedures to ensure that material
information relating to the Partnership, including its consolidated
subsidiaries, is made known to us by others within those entities, particularly
during the period in which this quarterly report is being prepared;
(ii) evaluated the effectiveness of the Partnership's disclosure controls
and procedures as of a date within 90 days prior to the filing date of this
quarterly report (the "Evaluation Date"); and
(iii) presented in this quarterly report our conclusions about the
effectiveness of the disclosure controls and procedures based on our evaluation
as of the Evaluation Date;
5. The Partnership's other certifying officers and I have disclosed, based on
our most recent evaluation, to the Partnership's auditors and the audit
committee of the Partnership's board of directors (or persons performing the
equivalent functions):
(i) all significant deficiencies in the design or operation of internal
controls which could adversely affect the Partnership's ability to record,
process, summarize and report financial data and have identified for the
Partnership's auditors any material weaknesses in internal controls; and
(ii) any fraud, whether or not material, that involves management or other
employees who have a significant role in the Partnership's internal controls;
and
THE MILLBURN GLOBAL OPPORTUNITY FUND L.P. Page 19
6. The Partnership's other certifying officers and I have indicated in this
quarterly report whether or not there were significant changes in internal
controls or in other factors that could significantly affect internal controls
subsequent to the date of our most recent evaluation, including any corrective
actions with regard to significant deficiencies and material weaknesses.
By: /s/ Harvey Beker
__________________________________
Harvey Beker
Co-Chief Executive Officer
November 12, 2002
THE MILLBURN GLOBAL OPPORTUNITY FUND L.P. Page 20
Exhibit 99 (c)
CERTIFICATION OF CHIEF FINANCIAL OFFICER
I, Gregg R. Buckbinder, Chief Financial Officer of Millburn Ridgefield
Corporation, the General Partner of The Millburn Global Opportunity Fund
(the "Fund"), do hereby certify that:
1. I have reviewed this quarterly report on Form 10-Q of The Millburn
Global Opportunity Fund;
2. Based on my knowledge, this quarterly report does not contain any
untrue statement of a material fact or omit to state a material fact
necessary to make the statements made, in light of the circumstances
under which such statements were made, not misleading with respect to
the period covered by this quarterly report;
3. Based on my knowledge, the financial statements, and other financial
information included in this quarterly report, fairly present in all
material respects the financial condition, results of operations and
cash flows of the Partnership as of, and for, the periods presented in this
quarterly report;
4. The Partnership's other certifying officers and I are responsible for
establishing and maintaining disclosure controls and procedures (as such
term is defined in paragraph (c) of Exchange Act Rule 15d-14) for the
Partnership and we have:
(i) designed such disclosure controls and procedures to ensure that
material information relating to the Partnership, including its consolidated
subsidiaries, is made known to us by others within those entities,
particularly during the period in which this quarterly report is being
prepared;
(ii) evaluated the effectiveness of the Partnership's disclosure controls
and procedures as of a date within 90 days prior to the filing date of
this quarterly report (the "Evaluation Date"); and
(iii) presented in this quarterly report our conclusions about the
effectiveness of the disclosure controls and procedures based on our
evaluation as of the Evaluation Date;
5. The Partnership's other certifying officers and I have disclosed, based on
our most recent evaluation, to the Partnership's auditors and the audit
committee of the Partnership's board of directors (or persons performing the
equivalent functions):
(i) all significant deficiencies in the design or operation of
internal controls which could adversely affect the Partnership's ability to
record, process, summarize and report financial data and have identified
for the Partnership's auditors any material weaknesses in internal controls;
and
(ii) any fraud, whether or not material, that involves management
or other employees who have a significant role in the Partnership's internal
controls; and
THE MILLBURN GLOBAL OPPORTUNITY FUND L.P. Page 21
6. The Partnership's other certifying officers and I have indicated in this
quarterly report whether or not there were significant changes in internal
controls or in other factors that could significantly affect internal
controls subsequent to the date of our most recent evaluation, including
any corrective actions with regard to significant deficiencies and material
weaknesses.
By: /s/ Gregg R. Buckbinder
__________________________________
Gregg R. Buckbinder
Chief Financial Officer
November 12, 2002