Grant Park Futures Fund Limited Partnership
Filed: 19 Nov 12, 12:00am
Filed pursuant to Rule 424(b)(3)
File No. 333-179641
Grant Park Fund October 2012 Update
November 16, 2012
Supplement dated November 16, 2012 to Prospectus dated April 30, 2012
| Class | October ROR | YTD ROR | Net Asset Value | Net Asset Value per Unit |
| A | -5.6% | -6.0% | $35.8M | $1,217.79 |
| B | -5.7% | -6.5% | $347.6M | $1,027.29 |
| Legacy 1 | -5.5% | -4.2% | $5.2M | $873.75 |
| Legacy 2 | -5.5% | -4.5% | $12.4M | $862.64 |
| Global 1 | -5.4% | -3.6% | $12.1M | $842.68 |
| Global 2 | -5.4% | -3.8% | $26.4M | $833.03 |
| Global 3 | -5.5% | -5.2% | $217.5M | $779.89 |
| ALL PERFORMANCE REPORTED IS NET OF FEES AND EXPENSES |
Fund Changes
Effective November 1, 2012, Lynx Asset Management AB, will trade on behalf of all classes of units of the Fund and will replace Global Advisors Jersey Ltd. and Welton Investment Corporation who will no longer trade for the Fund.
Sector Commentary
Currencies: The euro ended the month positive after the European Central Bank kept interest rates unchanged and the Spanish government agreed to new austerity measures. The U.S. dollar rose as demand for safe-haven currencies increased in reaction to pessimistic economic news coming out of the Eurozone.
Energy: Natural gas markets rallied on increased seasonal demand, but prices fell from intra-month highs because of a decrease in demand which was caused by warmer-than-expected temperatures across the U.S. Crude oil fell for the month as the negative data about European growth led an increasingly pessimistic global economic outlook.
Equities: Global equities markets retreated in October largely due to concerns over Spain’s bailout prospects and the ensuing austerity protests. Further, U.S. companies reported lower-than-expected earnings, which negatively affected the overall U.S. equity markets.
Fixed Income: Fixed income prices moved higher as some investors moved away from struggling equities markets. The demand for fixed income assets increased throughout the month as Moody’s downgraded five regions in Spain and earnings came in below expectations in the U.S.
Grains/Foods: Corn and soybean prices finished down for the month. Prices fluctuated throughout the month following reports of a weakening global demand for U.S. crops, better growing conditions in South America, and weak export data from the U.S. Cocoa markets also moved lower as data showed increased production from Africa.
Metals: Gold markets fell due to a strong U.S. dollar and a less-than-expected decline in growth in China, coupled with upbeat manufacturing data out of China. Copper markets also declined due to weak U.S. home resale data from September and concerns regarding U.S. growth.
Sincerely,
David Kavanagh
President
Daily fund performance and weekly commentaries are available on our website at www.grantparkfunds.com.
PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS
FUTURES TRADING INVOLVES A HIGH DEGREE OF RISK AND IS NOT SUITABLE FOR ALL INVESTORS
THIS DOES NOT CONSTITUTE AN OFFER OF ANY SECURITY FOR SALE NOR SHALL THERE BE ANY SALE OF SECURITIES IN ANY JURISDICTION IN WHICH AN OFFER, SOLICITATION OR SALE WOULD BE UNLAWFUL PRIOR TO REGISTRATION OR QUALIFICATION UNDER THE SECURITIES LAWS OF ANY SUCH JURISDICTION OFFERING BY PROSPECTUS ONLY.
Account Statement
(Prepared from books without audit) For the month ended October 31, 2012 | ||||||||
| STATEMENT OF INCOME | ||||||||
| Trading Income (Loss) | Month to Date Total | Year to Date Total | ||||||
| Realized Trading Income (Loss) | $ | -26,264,920 | $ | 30,000,381 | ||||
| Change In Unrealized Income (Loss) | -9,222,488 | -15,219,441 | ||||||
| Brokerage Commission | -231,646 | -2,549,417 | ||||||
| Exchange, Clearing Fee and NFA Charges | -81,788 | -812,221 | ||||||
| Other Trading Costs | -580,652 | -6,070,790 | ||||||
| Change in Accrued Commission | 54,159 | -4,183 | ||||||
| Net Trading Income (Loss) | -36,327,335 | 5,344,329 | ||||||
| Other Income | Month to Date Total | Year to Date Total | ||||||
| Interest, U.S. Obligations | $ | 75,975 | $ | 1,038,238 | ||||
| Interest, Other | 59,710 | 522,602 | ||||||
| U.S. Government Securities Gain (Loss) | 0 | 0 | ||||||
| Dividend Income | 0 | 0 | ||||||
| Total Income (Loss) | -36,191,650 | 6,905,169 | ||||||
| Expenses | Month to Date Total | Year to Date Total | ||||||
| Management Fee | $ | 0 | $ | 0 | ||||
| Incentive Fee | 0 | 8,917,234 | ||||||
| Operating Expenses | 139,988 | 1,572,769 | ||||||
| Organization and Offering Expenses | 161,894 | 1,817,693 | ||||||
| Brokerage Expenses | 3,170,088 | 35,844,285 | ||||||
| Dividend Expenses | 0 | 0 | ||||||
| Total Expenses | 3,471,970 | 48,151,981 | ||||||
| Net Income (Loss) | $ | -39,663,620 | $ | -41,246,812 | ||||
| Statement of Changes in Net Asset Value | Month to Date Total | Year to Date Total | ||||||
| Beginning Balance | $ | 704,134,246 | $ | 798,842,191 | ||||
| Additions | 3,417,934 | 36,679,098 | ||||||
| Net Income (Loss) | -39,663,620 | -41,246,812 | ||||||
| Redemptions | -10,908,502 | -137,294,419 | ||||||
| Balance at October 31, 2012 | $ | 656,980,058 | $ | 656,980,058 | ||||
| PERFORMANCE SUMMARY BY CLASS | ||||||||
| Class | Net Asset Value per Unit | Units | Net Asset Value | ROR – Month to Date ROR – Year to Date | ||||
| A | $1,217.790 | 29,429.06127 | $35,838,417 | -5.64% | -6.02% | |||
| B | $1,027.285 | 338,354.20474 | $347,586,154 | -5.69% | -6.53% | |||
| Legacy 1 | $873.745 | 5,956.66089 | $5,204,604 | -5.45% | -4.22% | |||
| Legacy 2 | $862.644 | 14,372.73486 | $12,398,546 | -5.47% | -4.48% | |||
| Global 1 | $842.683 | 14,339.25873 | $12,083,450 | -5.36% | -3.62% | |||
| Global 2 | $833.030 | 31,640.21316 | $26,357,253 | -5.38% | -3.83% | |||
| Global 3 | $779.885 | 278,902.14569 | $217,511,635 | -5.52% | -5.19% | |||
To the best of my knowledge and belief the information contained herein is accurate and complete.
__________________________________________________________
David Kavanagh, President
For Dearborn Capital Management, LLC
General Partner of Grant Park Futures Fund, Limited Partnership