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: March 31, 2003
or
[ ] Transition Report Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Commission File Number: 000-21446
THE MILLBURN GLOBAL OPPORTUNITY FUND L.P.
(Exact name of registrant as specified in its charter)
Delaware 06-1346879
(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]
Aggregate market value of the voting and non-voting common equity held
by non-affiliates as of March 31, 2003: $4,744,275
THE MILLBURN GLOBAL OPPORTUNITY FUND L.P. INDEX Page 1
Part I - Financial Information
Financial Statements: Pages
Statements of Financial Condition at
March 31, 2003 (unaudited) and December 31, 2002 1
Statements of Operations for the Three Months
Ended March 31, 2003 and 2002 (unaudited) 3
Condensed Schedule of Investments at
March 31, 2003 (unaudited) and December 31, 2002 4
Statements of Changes in Partners' Capital for the
Three Months Ended March 31, 2003 and 2002 (unaudited) 6
Financial Highlights for the Three Months Ended
March 31, 2003 and 2002 (unaudited) 7
Notes to Financial Statements (unaudited) 8
Part II - Other Information 11
PART I. FINANCIAL INFORMATION
ITEM I. FINANCIAL STATEMENTS
THE MILLBURN GLOBAL OPPORTUNITY FUND L.P.
Statements of Financial Condition (UNAUDITED)
Mar. 31, 2003 Dec. 31, 2002
(UNAUDITED)
Assets: ------------- -------------
Due from brokers $ 112,211 $ 53,697
Cash denominated in foreign currencies
(cost $31,081 and $9,537 at March 31, 2003
and December 31, 2002) 25,435 9,531
Investments in U.S. Treasury notes
- at value (amortized cost $1,207,246 and
$1,109,136 at March 31, 2003 and
December 31, 2002) 1,207,990 1,110,116
Unrealized appreciation/(depreciation)
on open contracts (358,106) 273,791
------------- -------------
Total equity in trading accounts 987,530 1,447,135
Investments in U.S. Treasury notes
- at value (amortized cost $3,782,703
and $3,942,476 at March 31, 2003 and
December 31, 2002) 3,785,035 3,945,959
Cash and cash equivalents 339,535 166,573
Accrued interest receivable 60,899 62,012
------------- -------------
Total Assets $ 5,172,999 $ 5,621,679
============= =============
Liabilities & Partners' Capital:
Due to brokers $ - $ 38,604
Accrued expenses 30,541 34,966
Redemptions payable to limited partners - 73,759
Accrued brokerage commissions 30,352 34,352
------------- -------------
Total Liabilities 60,893 181,681
See accompanying notes
THE MILLBURN GLOBAL OPPORTUNITY FUND L.P. Page 2
Statements of Financial Condition (continued)
Mar. 31, 2003 Dec. 31, 2002
(UNAUDITED)
------------- -------------
Partners' Capital:
General Partner 367,831 374,134
Limited Partners (2,890.162 & 2,971.932
Limited Partnership Units outstanding
at March 31, 2003 and December 31, 2002,
respectively) 4,744,275 5,065,864
------------- -------------
Total Partners' Capital 5,112,106 5,439,998
------------- -------------
Total Liabilities and Partners' Capital $ 5,172,999 $ 5,621,679
============= =============
Net Asset Value per Unit $ 1,641.53 $ 1,704.57
============= =============
See accompanying notes
Statements of Operations
For the three months ended March 31, 2003 and 2002 (UNAUDITED) Page 3
Mar 31, 2003 Mar 31, 2002
------------ ------------
Investment income
Interest income $ 19,676 $ 37,362
------------ ------------
Expenses
Administrative expenses 12,979 6,221
Brokerage commissions 105,370 120,232
------------ ------------
Total expenses 118,349 126,453
------------ ------------
Total net investment loss (98,673) (89,091)
------------ ------------
Realized and unrealized gains (losses)
Net realized gains (losses) on
closed positions:
Futures and forward contracts 553,546 157,651
Net change in unrealized appreciation
(depreciation)
Futures and forward contracts (631,897) (437,196)
Foreign exchange translation (4,682) (2,552)
Net gains (losses) from U.S. Treasury
obligations
Net change in unrealized
appreciation (depreciation) (1,387) (17,102)
Total net realized and ------------ ------------
unrealized gains (losses) (84,420) (299,199)
------------ ------------
Net income (loss) $ (183,093) $ (388,290)
------------ ------------
Net income (loss) per unit of
beneficial interest $(63.04) $ (86.09)
------------ ------------
See accompanying notes
THE MILLBURN GLOBAL OPPORTUNITY FUND L.P. Page 4
Condensed Schedule of Investments at March 31, 2003 (UNAUDITED)
Net Unrealized
Appreciation/
(Depreciation) Net Unrealized
as a percentage of Appreciation/
Futures and Forward Contracts Partners' Capital (Depreciation)
----------------------------- ------------------ ---------------
Futures contracts purchased
Interest Rates 0.72% $ 36,773
Stock indices (0.20)% (10,320)
------ ---------------
Total futures contracts purchased 0.52% 26,453
------ ---------------
Futures contracts sold
Interest Rates (0.07)% (3,748)
Metals (0.51)% (25,869)
Stock Indices 0.41% 20,938
------ ---------------
Total futures contracts sold (0.17)% (8,679)
------ ---------------
Total investment in futures contracts 0.35% 17,774
------ ---------------
Total currency forward contracts
purchased (3.05)% (155,816)
Total currency forward contracts sold (4.30)% (220,064)
------ ---------------
Total investment in forward
contracts (7.35)% (375,880)
------ ---------------
Total investments in futures and
forward contracts (7.00)% $ (358,106)
====== ===============
Value as a %
of Partners'
Face Amount Investments in U.S. Treasury notes Capital Value
- ----------- ---------------------------------- ------------ ------------
Government - United States
$1,960,000 U.S. Treasury notes, 4.000%, 4/30/2003 38.44% $ 1,964,900
1,300,000 U.S. Treasury notes, 3.875%, 7/31/2003 25.67% 1,312,188
1,700,000 U.S. Treasury notes, 2.750%, 10/31/2003 33.56% 1,715,937
------- -----------
Total investments in U.S. Treasury
notes (amortized cost $4,989,949) 97.67% $ 4,993,025
------- ----------
See accompanying notes
THE MILLBURN GLOBAL OPPORTUNITY FUND L.P. Page 5
Condensed Schedule of Investments at December 31, 2002
Net Unrealized
Appreciation/
(Depreciation) Net Unrealized
as a percentage of Appreciation/
Futures and Forward Contracts Partners' Capital (Depreciation)
----------------------------- ------------------ ---------------
Futures contracts purchased
Interest Rates 2.75% $ 149,920
Metals 0.44% 23,824
----- ---------------
Total futures contracts purchased 3.19% 173,744
----- ---------------
Futures contracts sold
Metals (0.10)% (5,631)
Stock Indices 0.44% 24,291
----- ---------------
Total futures contracts sold 0.34% 18,660
----- ---------------
Total investment in futures contracts 3.53% 192,404
----- ---------------
Total currency forward contracts
purchased 2.05% 111,345
Total currency forward contracts sold (0.55)% (29,958)
----- ---------------
Total investment in forward
contracts 1.50% 81,387
------ ---------------
Total investments in futures and
forward contracts 5.03% $ 273,791
====== ===============
Value as a %
of Partners'
Face Amount Investments in U.S. Treasury notes Capital Value
- ----------- ---------------------------------- ------------ ------------
Government - United States
$1,800,000 U.S. Treasury notes, 4.625%, 2/28/2003 33.26% $ 1,809,562
1,960,000 U.S. Treasury notes, 4.000%, 4/30/2003 36.36% 1,977,763
1,250,000 U.S. Treasury notes, 3.875%, 7/31/2003 23.32% 1,268,750
------- -----------
Total investments in U.S. Treasury
notes (amortized cost $5,051,612) 92.94% $ 5,056,075
------- -----------
See accompanying notes
THE MILLBURN GLOBAL OPPORTUNITY FUND L.P. Page 6
Statement of Partners' Capital
For the three months ended March 31, 2003 (UNAUDITED)
Limited General
Partners Partner Total
------------ ------------ ------------
Partners' Capital at December 31,
2002 (2,971.932 Units) $ 5,065,864 $ 374,134 $ 5,439,998
Redemption of (81.770) Units (144,799) - (144,799)
Net Income (Loss) (176,790) (6,303) (183,093)
------------ ------------ -------------
Partners' Capital at March 31, $ 4,744,275 $ 367,831 $ 5,112,106
2003 (2,890.162 Units) ============ ============ =============
Net Asset Value per Unit
at March 31, 2003 $ 1,641.53
============
Statement of Partners' Capital
For the three months ended March 31, 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 (73.483) Units (101,439) - (101,439)
Net Income (Loss) (363,976) (24,314) (388,290)
------------ ------------ ------------
Partners' Capital at March 31, $ 5,488,369 $ 547,537 $ 6,035,906
2002 (4,223.195 Units) ============ ============ ============
Net Asset Value per Unit
at March 31, 2002 $ 1,299.58
============
See accompanying notes
THE MILLBURN GLOBAL OPPORTUNITY FUND L.P. Page 7
Financial Highlights (UNAUDITED)
Per unit operating performance for the three months ended
March 31, 2003 and 2002 is as follows:
Mar 31, 2003 Mar 31, 2002
-------------- --------------
Net income (loss) from operations:
Net investment loss $ (33.69) $ (21.54)
Net realized and unrealized
gains (losses) on trading of
futures and forward contracts (28.93) (60.54)
Net gains (losses) from U.S.
Treasury obligations (0.42) (4.01)
-------------- --------------
Net income (loss) per unit (63.04) (86.09)
Net asset value per Unit,
beginning of period 1,704.57 1,385.67
-------------- --------------
Net asset value per Unit,
end of Period $ 1,641.53 $ 1,299.58
============== ==============
Total return and ratios for the three months ended March 31, 2003 (UNAUDITED):
Total return: (3.70)%
Ratio of expenses to average net assets: 9.28% (annualized)
Ratio of net investment loss to average net assets: (7.84)% (annualized)
Total return and ratios for the three months ended March 31, 2002 (UNAUDITED):
Total return: (6.21)%
Ratio of expenses to average net assets: 8.68% (annualized)
Ratio of net investment loss to average net assets: (6.33)% (annualized)
See accompanying notes
THE MILLBURN GLOBAL OPPORTUNITY FUND L.P. Page 8
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 March 31, 2003 (unaudited) and December 31, 2002 and the
results of its operations for the three month period ended
March 31, 2003 and 2002 (unaudited). 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, 2002. The December 31, 2002
information has been derived from the audited financial statements as of
December 31, 2002.
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 conjunction 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 9
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 March 31, 2003, the
Partnership experienced no meaningful periods of illiquidity in any of
the markets traded by the Partnership.
RESULTS OF OPERATIONS
31-Mar-03 31-Dec-02
------------- -------------
Ending Equity $ 5,112,106 $ 5,439,998
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.
Three months ended March 31, 2003:
The Partnership's net assets decreased 6.03% in the first quarter of 2003.
This decrease was attributable to redemptions of $144,799 and net loss
from operations of $183,093.
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 March 31, 2003
decreased by $14,862, relative to the corresponding period in 2002.
The Fund's NAV per unit was down 3.70% during the three months ended
March 31, 2003. A number of well-defined trends in the interest rate and
currency sectors persisted during the early part of the year and generated
profits. However, as war with Iraq approached in early March, these trends
halted and reversed abruptly, producing losses that more than offset the
earlier gains. On balance for the period, losses sustained from trading
currency and stock index futures, and smaller losses from metal trading were
only partially offset by gains from trading of interest rate futures.
Interest rates, which had been declining broadly for over a year, spiked
higher in a flurry of pre-war activity. As a result, long interest rate
futures positions in German, U.S., and Japanese instruments produced
significant losses in March after having been profitable in the first two
months of the quarter.
THE MILLBURN GLOBAL OPPORTUNITY FUND L.P. Page 10
A weakening U.S. dollar trend that had been evident since late October 2002 also
reversed abruptly during the quarter and was followed by non-directional whipsaw
price activity, especially for the Japanese yen. Hence, losses from trading the
Asian currencies outweighed gains from long positions in the European currencies
and non-dollar cross rate trading.
Stock markets were unsettled and trading of U.S., Japanese and Hong Kong equity
futures resulted in a loss. Trading of metal futures was unprofitable as losses
from both long and short positions in industrial metals were somewhat larger
than the gains from both long and short trades in gold.
Three months ended March 31, 2002:
The partnership's net assets declined 7.50% in the first quarter of 2002.
This decrease was attributable to redemptions of $101,439, and a net loss
from operations of $388,290.
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 March 31, 2002 decreased
by $31,664, relative to the corresponding period in 2001.
The Fund's NAV per unit was down 6.21% during the three months ended
March 31, 2002. Losses from trading dollar cross rates, non-dollar cross rates,
and stock index futures accounted for all of the loss. Meanwhile, trading of
international interest rate futures provided a fractional gain, while
metals trading had no appreciable impact on the quarterly results.
Uncertainties, which seemed to abound throughout the world, jostled the
financial markets to and from during the quarter. Accounting uncertainties,
concern about future profit growth, questions about the direction of
monetary and interest rate policies worldwide, Middle East turmoil and its
possible impact on energy markets, all combined to cloud trading and
investment decisions.
Long dollar positions against the other major currencies were very
profitable at the start of 2002. As the quarter advanced, however, the
US unit reversed direction and then settled into volatile ranges compared
to most other currencies. Consequently, dollar currency trading produced
losses during the last two months of the quarter that far outdistanced the
earlier gains. At the same time, nondollar cross rate trading generated
fractional losses in each month of the quarter.
Stock index futures trading was also range-bound and volatile throughout
the period. As positions whipsawed from long to short to long again, losses
were widespread in five of the six contracts traded for Germany, Hong Kong,
Japan, and the U.S.
Results in interest rate trading were mixed and produced a fractional gain
for the first quarter. Short positions in German five and ten year futures
were profitable, as were both a short and later a long position in the
Japanese government bond. On the other hand, a long Eurodollar futures
position lost money, and both short and long positions in US five and
ten-year notes also generated losses.
Trading of metals futures was also mixed. The gain from a long gold position
was offset by the loss from trading aluminum.
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 11
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 -
The following exhibits are incorporated herein by reference from Amendment No. 1
to the Registration Statement (File No. 33-50388) filed on October 30, 1992 on
Form S-1 under the Securities Act of 1933.
Designation Description
- ----------- -----------
1.01 Form of Selling Agreement among the Partnership, the General Partner
and the Selling Agent.
3.01 Limited Partnership Agreement of the Partnership.
3.02 Certificate of Limited Partnership of the Partnership.
3.03 Amended and Restated Limited Partnership Agreement.
10.01 Form of Subscription Agreement and Power of Attorney.
10.02 Form of Customer Agreement and Forward Dealer Agreement among the
Partnership, the General Partner and the Selling Agent.
10.03 Form of Customer Agreement and Forward Dealer Agreement among the
Partnership, the General Partner and Morgan Stanley & Co. Inc.
10.04 Form of Customer Agreement and Forward Dealer Agreement among th
Partnership, the General Partner and AIG Trading Corp.
10.05 Escrow Agreement between the Partnership and Chemical Bank, N.A.
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 14th day of May, 2003.
THE MILLBURN GLOBAL OPPORTUNITY FUND L.P.
By: Millburn Ridgefield Corporation,
General Partner
Date: May 14, 2003
/s/Tod A. Tanis
Tod A. Tanis
Vice-President
(principal accounting officer)
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
THE MILLBURN GLOBAL OPPORTUNITY FUND L.P. Page 12
respects the financial condition and results of operations 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 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
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
May 14, 2003
CERTIFICATION OF CO-CHIEF EXECUTIVE OFFICER
THE MILLBURN GLOBAL OPPORTUNITY FUND L.P. Page 13
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 and results of operations 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 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
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
THE MILLBURN GLOBAL OPPORTUNITY FUND L.P. Page 14
actions with regard to significant deficiencies and material weaknesses.
By: /s/ Harvey Beker
__________________________________
Harvey Beker
Co-Chief Executive Officer
May 14, 2003
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 and results of operations 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 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
THE MILLBURN GLOBAL OPPORTUNITY FUND L.P. Page 15
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
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
May 14, 2003
Exhibit 99(a)
CERTIFICATION PURSUANT TO SECTION 1350 OF CHAPTER 63 OF TITLE 18 OF
THE UNITED STATES CODE
I, George E. Crapple, the Co-Chief Executive Officer of Millburn Ridgefield
Corporation, the Managing Owner of The Millburn Global Opportunity Fund (the
"Partnership"), certify that (i) the Quarterly Report of the Partnership on Form
10-Q for the period ending March 31, 2003 fully complies with the requirements
of Section 13(a) or 15(d) of the Securities Exchange Act of 1934 and (ii) the
information contained in such Quarterly Report fairly presents, in all material
respects, the financial condition and results of operations of the Partnership.
Date:
May 14, 2003
/s/
George E. Crapple
-------------------------
George E. Crapple
Co-Chief Executive Officer
Exhibit 99(b)
CERTIFICATION PURSUANT TO SECTION 1350 OF CHAPTER 63 OF TITLE 18 OF
THE UNITED STATES CODE
I, Harvey Beker, the Co-Chief Executive Officer of Millburn Ridgefield
Corporation, the Managing Owner of The Millburn Global Opportunity Fund (the
"Partnership"), certify that (i) the Quarterly Report of the Partnership on Form
10-Q for the period ending March 31, 2003 fully complies with the requirements
of Section 13(a) or 15(d) of the Securities Exchange Act of 1934 and (ii) the
information contained in such Quarterly Report fairly presents, in all material
respects, the financial condition and results of operations of the Partnership.
Date:
May 14, 2003
/s/
Harvey Beker
-------------------------
Harvey Beker
Co-Chief Executive Officer
Exhibit 99(c)
CERTIFICATION PURSUANT TO SECTION 1350 OF CHAPTER 63 OF TITLE 18 OF
THE UNITED STATES CODE
I, Gregg Buckbinder, the Chief Operating Officer and principal financial officer
of Millburn Ridgefield Corporation, the Managing Owner of The Millburn Global
Opportunity Fund (the "Partnership"), certify that (i) the Quarterly Report of
the Partnership on Form 10-Q for the period ending March 31, 2003 fully complies
with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act
of 1934 and (ii) the information contained in such Quarterly Report fairly
presents, in all material respects, the financial condition and results of
operations of the Partnership.
Date:
May 14, 2003
/s/
Gregg Buckbinder
-------------------------
Gregg Buckbinder
Chief Operating Officer