File No. 333-179641
Grant Park Fund June 2015 Update
July 21, 2015
Supplement dated July 21, 2015 to Prospectus dated April 24, 2015
Class | June ROR | YTD ROR | Net Asset Value | Net Asset Value per Unit |
A | -4.6% | -7.2% | $14.0M | $1,158.26 |
B | -4.7% | -7.5% | $142.1M | $961.43 |
Legacy 1 | -4.5% | -6.2% | $2.4M | $877.58 |
Legacy 2 | -4.5% | -6.3% | $0.7M | $862.56 |
Global 1 | -4.4% | -6.0% | $19.1M | $858.24 |
Global 2 | -4.4% | -6.1% | $5.2M | $843.83 |
Global 3 | -4.6% | -6.9% | $73.5M | $756.48 |
| ALL PERFORMANCE REPORTED IS NET OF FEES AND EXPENSES |
Sector Commentary
Currencies: The U.S. dollar finished lower as the Federal Reserve signaled a less aggressive stance on hiking U.S. interest rates. The euro finished slightly higher amidst the on-going Greek debt crisis and as large investors unwound short positions used to hedge their Eurozone equity exposure. The New Zealand dollar fell over 5% when disappointing GDP data fueled speculation the Reserve Bank of New Zealand would reduce interest rates again. The Japanese yen strengthened on increased demand for safe-haven assets amidst turmoil in Europe and on concerns over the strength of the Chinese economy.
Energy: Natural gas prices rose due to a smaller-than-expected build up in U.S. supplies and in reaction to forecasts for warmer weather which would result in increased demand. Crude oil markets moved lower due to increased U.S. inventories and the impact of reduced global demand.
Equities: Global equity prices declined as investor sentiment fell in reaction to the possibility Greece could default on its debt obligations.
Fixed Income: U.S. Treasury and German Bund markets fell sharply in reaction to reduced demand for safe-haven assets as investors hoped the Greek situation would soon be resolved. U.S. Treasury markets were also pressured by speculation about a near-term U.S. interest rate hike. The U.K. fixed-income markets finished lower after the Bank of England indicated it would raise interest rates sooner than expected.
Grains/Foods: Corn and wheat markets rose almost 18% and 29%, respectively, due to global supply concerns prompted by forecasts for unfavorable weather in Europe and North America. Soybean markets also moved higher after the U.S. Department of Agriculture reported slower-than-expected plantings and weak crop condition ratings for soybeans.
Metals: Gold and silver prices declined as positive economic indicators fueled speculation for a September 2015 U.S. interest rate hike. Base metal markets fell due to concerns regarding global demand fueled by the ongoing Greek debt situation and concerns the Chinese government would not be able to bolster the nation’s economy.
Additional Information: For the Fund’s monthly Account Statement, including the net asset value per unit, and related information, please visit our website at www.grantparkfunds.com.
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.