Grant Park Futures Fund Limited Partnership
Filed: 17 May 13, 12:00am
Filed pursuant to Rule 424(b)(3)
File No. 333-179641
File No. 333-179641
Grant Park Fund April 2013 Update
May 16, 2013
Supplement dated May 16, 2013 to Prospectus dated April 30, 2013
| Class | April ROR | YTD ROR | Net Asset Value | Net Asset Value per Unit |
| A | 1.0% | 0.8% | $31.4M | $1,225.88 |
| B | 1.0% | 0.6% | $303.0M | $1,030.88 |
| Legacy 1 | 1.2% | 1.5% | $4.4M | $889.45 |
| Legacy 2 | 1.2% | 1.5% | $10.4M | $877.14 |
| Global 1 | 1.2% | 1.7% | $11.7M | $859.94 |
| Global 2 | 1.2% | 1.6% | $23.9M | $849.04 |
| Global 3 | 1.1% | 1.1% | $214.2M | $788.09 |
| ALL PERFORMANCE REPORTED IS NET OF FEES AND EXPENSES |
Sector Commentary
Currencies: The Australian dollar depreciated against counterparts after poor economic data renewed fears of a global economic slowdown and decreased the demand for higher-yielding assets. The Japanese yen continued to weaken as the Bank of Japan continued to expand its long-term debt purchases.
Energy: Crude oil was down nearly 4% as demand forecasts fell in response to weak economic data from the European and Chinese economies. Despite finishing lower, crude oil ended April on a slight rally spurred by refinery maintenance in Nigeria. Natural gas prices rose as unseasonably cold weather continued across the U.S.
Equities: The Nikkei 225 gained nearly 12% on speculation the ongoing aggressive quantitative easing by the Bank of Japan will continue to bolster Japan’s export industries. The S&P 500 ended a whipsaw month slightly positive. Bullish earnings reports and upbeat housing data were the main drivers behind the late-month rally.
Fixed Income: The price for U.S. 30-year Treasury bonds gained more than 3% as disappointing U.S., Chinese, and Eurozone data weighed on investor sentiment in early-April.
Grains/Foods: Corn prices fell as rainfall in key corn producing states provided optimism for the 2013 crop yield. Cotton prices declined nearly 3% as strong supplies continued to add to already substantial inventories.
Metals: Gold prices plummeted nearly 9% in one day due to liquidations which were prompted by news Cyprus would sell a portion of its gold reserves to help fund their bailout. By month-end, gold markets retraced slightly, driven by U.S. dollar weakness, but finished the month down 7.7%.
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 April 30, 2013
| STATEMENT OF INCOME | |||||||
| Trading Income (Loss) | Month to Date Total | Year to Date Total | |||||
| Realized Trading Income (Loss) | -$4,001,560 | $4,505,408 | |||||
| Change In Unrealized Income (Loss) | 14,862,406 | 17,335,798 | |||||
| Brokerage Commission | -282,206 | -1,083,058 | |||||
| Exchange, Clearing Fee and NFA Charges | 0 | -22,608 | |||||
| Other Trading Costs | -513,210 | -1,997,851 | |||||
| Change in Accrued Commission | 23,596 | -46,207 | |||||
| Net Trading Income (Loss) | 10,089,026 | 18,691,482 | |||||
| Other Income | Month to Date Total | Year to Date Total | |||||
| Interest, U.S. Obligations | $48,467 | $216,287 | |||||
| Interest, Other | 50,551 | 229,761 | |||||
| U.S. Government Securities Gain (Loss) | 0 | 0 | |||||
| Dividend Income | 0 | 0 | |||||
| Total Income (Loss) | 10,188,044 | 19,137,530 | |||||
| Expenses | Month to Date Total | Year to Date Total | |||||
| Management Fee | $0 | $0 | |||||
| Incentive Fee | 831,941 | 1,150,389 | |||||
| Operating Expenses | 128,637 | 524,954 | |||||
| Organization and Offering Expenses | 148,916 | 607,473 | |||||
| Brokerage Expenses | 2,894,914 | 11,827,832 | |||||
| Dividend Expenses | 0 | 0 | |||||
| Total Expenses | 4,004,408 | 14,110,648 | |||||
| Net Income (Loss) | $6,183,636 | $5,026,882 | |||||
| Statement of Changes in Net Asset Value | Month to Date Total | Year to Date Total | |||||
| Beginning Balance | $603,620,272 | $636,740,049 | |||||
| Additions | 3,134,376 | 11,955,419 | |||||
| Net Income (Loss) | 6,183,636 | 5,026,882 | |||||
| Redemptions | -13,994,138 | -54,778,204 | |||||
| Balance at April 30, 2013 | $598,944,146 | $598,944,146 | |||||
| PERFORMANCE SUMMARY BY CLASS | ||||||||
| Class | Net Asset Value per Unit | Units | Net Asset Value | ROR – Month to Date ROR – Year to Date | ||||
| A | $1,225.883 | 25,637.50994 | $31,428,598 | 1.01% | 0.78% | |||
| B | $1,030.883 | 293,909.38576 | $302,986,151 | 0.96% | 0.58% | |||
| Legacy 1 | $889.445 | 4,945.29733 | $4,398,568 | 1.19% | 1.52% | |||
| Legacy 2 | $877.141 | 11,864.20528 | $10,406,584 | 1.17% | 1.45% | |||
| Global 1 | $859.939 | 13,550.53826 | $11,652,631 | 1.22% | 1.71% | |||
| Global 2 | $849.036 | 28,127.88346 | $23,881,589 | 1.20% | 1.62% | |||
| Global 3 | $788.086 | 271,785.07831 | $214,190,026 | 1.06% | 1.05% | |||
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