Grant Park Futures Fund Limited Partnership
Filed: 21 Dec 16, 12:00am
Filed pursuant to Rule 424(b)(3)
File No. 333-202279
Grant Park Fund November 2016 Update
December 21, 2016
Supplement dated December 21, 2016 to Prospectus dated April 29, 2016
| Class | Nov ROR | YTD ROR | Net Asset Value | Net Asset Value per Unit |
| A | -0.69% | -2.93% | $9.39M | $1,060.796 |
| B | -0.74% | -3.56% | $98.81M | $871.937 |
| Legacy 1 | -0.50% | -0.98% | $1.28M | $829.358 |
| Legacy 2 | -0.52% | -1.22% | $0.56M | $812.174 |
| Global 1 | -0.44% | 0.11% | $34.40M | $818.579 |
| Global 2 | -0.46% | 0.09% | $2.02M | $803.778 |
| Global 3 | -0.61% | -1.44% | $19.32M | $703.415 |
ALL PERFORMANCE REPORTED IS NET OF FEES AND EXPENSES
Sector Commentary
Currencies: The U.S. dollar strengthened on rising expectations of an interest rate hike by the Federal Reserve in December. The British pound strengthened on positive housing data. The Japanese yen weakened due to expectations of a Federal Reserve interest rate hike. The euro weakened after the European Central Bank considered extending its current monetary stimulus policies.
Energy: Crude oil prices rose over 18% as OPEC agreed to cut production. Natural gas and heating oil prices rose due to forecasts for colder weather.
Equities: U.S. equities markets rose on strong consumer confidence as election results were viewed as representing corporate tax reform, infrastructure spending and deregulation initiatives.
Fixed Income: Global fixed income markets declined ahead of an expected interest rate hike in December. The markets have reacted to the U.S. election results as a positive sign for economic growth, albeit with the potential for increased inflation.
Grains/Foods: Corn and wheat prices declined over 5% on elevated global supplies. Sugar prices declined due to increased supply and lower bulk-consumer demand. Coffee prices declined over 10% due to a weaker Brazilian real and in anticipation Colombian coffee production will reach a 23-year high. Cocoa markets declined over 12% on increased supplies.
Metals: Precious metal prices declined in anticipation the Federal Reserve will raise interest rates. A strong dollar and the possibility of a tighter monetary policy also contributed to price declines. Base metal prices rose on an improving demand outlook.
Additional Information: For the Fund’s monthly Account Statement, including the net asset value per unit, and related information, please visit our website at grantparkfunds.com.
Sincerely,
David Kavanagh
President
President
Daily fund performance and weekly commentaries are available on our website at 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.
Filed pursuant to Rule 424(b)(3)
File No. 333-202279
Account Statement
(Prepared from books without audit)
For the month ended November 30, 2016
| STATEMENT OF INCOME | |||||||
| Trading Income (Loss) | Monthly Performance | Year to Date Performance | |||||
| Realized Trading Income (Loss) | -$6,166,823 | $6,290,345 | |||||
| Change In Unrealized Income (Loss) | 5,891,169 | 2,619,103 | |||||
| Brokerage Commission | -91,085 | -1,028,676 | |||||
| Exchange, Clearing Fee and NFA Charges | 0 | 0 | |||||
| Other Trading Costs | -119,224 | -1,686,605 | |||||
| Change in Accrued Commission | 3,684 | 20,847 | |||||
| Net Trading Income (Loss) | -482,279 | 6,215,014 | |||||
| Other Income | Monthly Performance | Year to Date Performance | |||||
| Interest, U.S. Obligations | $64,303 | $798,835 | |||||
| Interest, Other | 31,804 | 408,928 | |||||
| U.S. Government Securities Gain (Loss) | 0 | 0 | |||||
| Dividend Income | 0 | 0 | |||||
| Total Income (Loss) | -386,172 | 7,422,777 | |||||
| Expenses | Monthly Performance | Year to Date Performance | |||||
| Management Fee | $0 | $0 | |||||
| Incentive Fee | 0 | 643,438 | |||||
| Operating Expenses | 35,565 | 458,184 | |||||
| Organization and Offering Expenses | 41,105 | 530,382 | |||||
| Brokerage Expenses | 656,309 | 8,847,714 | |||||
| Dividend Expenses | 0 | 0 | |||||
| Total Expenses | 732,979 | 10,479,718 | |||||
| Net Income (Loss) | -$1,119,151 | -$3,056,941 | |||||
| Statement of Changes in Net Asset Value | Monthly Performance | Year to Date Performance | |||||
| Beginning Balance | $170,880,611 | $213,734,838 | |||||
| Additions | 100,000 | 210,450 | |||||
| Net Income (Loss) | -1,119,151 | -3,056,941 | |||||
| Redemptions | -4,085,284 | -45,112,171 | |||||
| Balance at November 30, 2016 | $165,776,176 | $165,776,176 | |||||
| PERFORMANCE SUMMARY BY CLASS | ||||||||
| Class | Net Asset Value per Unit | Units | Net Asset Value | Monthly ROR Year to Date ROR | ||||
| A | $1,060.796 | 8,853.32139 | $9,391,572 | -0.69% | -2.93% | |||
| B | $871.937 | 113,325.22236 | $98,812,431 | -0.74% | -3.56% | |||
| Legacy 1 | $829.358 | 1,548.52781 | $1,284,283 | -0.50% | -0.98% | |||
| Legacy 2 | $812.174 | 686.07088 | $557,209 | -0.52% | -1.22% | |||
| Global 1 | $818.579 | 42,022.09062 | $34,398,413 | -0.44% | 0.11% | |||
| Global 2 | $803.778 | 2,508.74103 | $2,016,471 | -0.46% | 0.09% | |||
| Global 3 | $703.415 | 27,460.04761 | $19,315,797 | -0.61% | -1.44% | |||
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