10-Q 1 c68034e10-q.txt QUARTERLY REPORT FORM 10-Q 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 JANUARY 31, 2002 TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from Commission file number 0-9202 THE FUTURE FUND Exact name of registrant as specified in its charter) State of jurisdiction or incorporation (Illinois) IRS EMPLOYER ID NO. #36-3033727 C/0 HEINOLD ASSET MANAGEMENT. INC. ONE FINANCIAL PLACE 440 S. LASALLE ST-21 FLOOR CHICAGO ILLINOIS 60605 PHONE NUMBER 663-7500 SAME ( Former name, former address and former fiscal year, if changed) 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 shortened 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 PART I. FINANCIAL INFORMATION ITEM I. FINANCIAL STATEMENTS THE FUTURE FUND (An Illinois Limited Partnership) STATEMENTS OF FINANCIAL CONDITION

THE ACCOMPANYING NOTES ARE AN INTEGRAL PART OF THE FINANCIAL STATEMENTS -2- THE FUTURE FUND (An Illinois Limited Partnership) STATEMENTS OF OPERATIONS FOR THE THREE MONTHS ENDED JAN 31, 2002 and 2001 (UNAUDITED)

THE ACCOMPANYING NOTES ARE AN INTEGRAL PART OF THE FINANCIAL STATEMENTS. -3- THE FUTURE FUND (An Illinois Limited Partnership) STATEMENTS OF CHANGES IN PARTNERS' CAPITAL FOR THE THREE MONTHS ENDED JANUARY 31, 2002 (UNAUDITED)

THE ACCOMPANYING NOTES ARE AN INTEGRAL PART OF THE FINANCIAL STATEMENTS. -4- THE FUTURE FUND (An Illinois Limited Partnership) STATEMENTS OF CASH FLOWS FOR THE THREE MONTHS ENDED JAN 31, 2002 AND 2001 (UNAUDITED) 2002 2001 CASH FLOWS FROM OPERATING ACTIVITIES NET INCOME (LOSS) (1,280,216) 1,337,059 TO NET CASH PROVIDED BY OPERATING ACTIVITIES: DUE FROM AFFILIATED BROKER AND GENERAL PARTNERSHIPS 1,492,320 (980,398) INCREASE (DECREASE) IN OTHER LIABILITIES (62,034) 43,900 ---------- --------- TOTAL FUNDS PROVIDED 150,069 400,561 CASH FLOWS FROM FINANCING ACTIVITIES REDEMPTION OF LIMITED PARTNERSHIP UNITS 150,069 400,561 ---------- --------- TOTAL FUNDS APPLIED 150,069 400,561 CHANGE IN CASH BALANCE 0 0 THE ACCOMPANYING NOTES ARE AN INTEGRAL PART OF THE FINANCIAL STATEMENTS -5- THE FUTURE FUND (AN ILLINOIS LIMITED PARTNERSHIP) NOTES TO FORM 10-Q FINANCIAL STATEMENTS The financial information included herein, other than the condensed Statement of Financial Condition as of October 31,2001, has been prepared by management without audit by Independent Auditors. The condensed Statement of Financial Condition as of Jan 31, 2002 has been derived from the audited financial as of October 31, 2001. The interim unaudited financial statements do not include all the disclosures contained in the annual audited financial statements. The information furnished includes necessary for a fair statements of results for the interim periods. Results of operations as presented, however, should not be considered indicative of the results to be expected for the entire year. -6- The Future Fund (An Illinois Limited Partnership) Notes to Form 10-Q Financial Statements, Continued Item 2, Management's discussion and analysis of Financial Condition, and operating results for the three months ended Jan 31, 2002 January 31, 2002 31-Oct-2001 Ending Partners' Capital (Note A) 8,674,737 10,105,022 NOTE A: $ Ending capital at Jan 31, 2002 is lower than ending capital at October 31, 2001 due to unprofitable trading and redemptions during the period. For the three month period ending January 31, 2001, the Partnership's Net Asset Value per Unit decreased from $1,199.83 at October 31, 2002 to $1,047.35 at October 31, 2002. The majority of the losses occurred from trading activities in November where the NAV decreased by 8.49%. NOTE B: Three months Three months ended 1/31/2002 ended 1/31/2001 Net Realized and Unrealized Trading Gains (Losses) on Futures and Forward Contracts (1,142,861) 1,492,259 Net realized and unrealized trading gains (Losses) on Futures and Forward Contracts for the three months ended 1/31/2002 is less than net realized and unrealized trading gains (losses) on futures and forward contracts for the three months ended 1/31/2001 due to less profitable trading during the period. -7-

FUTURE FUND 10-Q