Grant Park Futures Fund Limited Partnership
Filed: 21 Jul 17, 12:00am
Filed pursuant to Rule 424(b)(3)
File No. 333-202279
Grant Park Fund June 2017 Update
July 21, 2017
Supplement dated July 21, 2017 to Prospectus dated May 15, 2017
| Class | June ROR | YTD ROR | Net Asset Value | Net Asset Value per Unit | |
| A | -4.12% | -7.30% | $7.92M | $1,005.058 | |
| B | -4.18% | -7.61% | $79.95M | $822.986 | |
| Legacy 1 | -3.94% | -6.23% | $1.17M | $796.456 | |
| Legacy 2 | -3.96% | -6.34% | $0.40M | $778.792 | |
| Global 1 | -3.83% | -5.96% | $26.10M | $788.853 | |
| Global 2 | -3.85% | -6.07% | $1.54M | $773.188 | |
| Global 3 | -3.99% | -6.90% | $11.76M | $669.750 | |
ALL PERFORMANCE REPORTED IS NET OF FEES AND EXPENSES
Sector Commentary
Currencies: The U.S. dollar weakened following softer-than-expected U.S. economic data and in anticipation of the Federal Reserve’s comments on the timing of an expected interest rate hike. The Australian and New Zealand dollars each strengthened in reaction to the growing likelihood of interest rate increases in the near term. The Canadian dollar strengthened after the Bank of Canada stated it might raise interest rates as early as July.
Energy: Crude oil prices declined due to rising inventories and despite ongoing efforts by major producing countries to reduce a global glut. Natural gas and heating oil declined due to mild weather and rising natural gas inventories.
Equities: U.S. and Asian equity markets rose as signs emerged that companies are increasing their profitability, that U.S. consumers are more confident about their finances, and on the sense other global economies, particularly in Europe, are stable. European equity markets moved lower mainly due to declining oil prices and their effect on energy stocks.
Fixed Income: Global fixed income prices declined after hawkish comments from central banks led to expectations of upcoming interest rate hikes.
Grains/Foods: Wheat prices rose 19% on concerns the worsening drought has damaged the current crop. Sugar markets declined eight percent on continued expectations of a supply surplus. Favorable weather in the growing regions for cocoa and coffee caused prices to fall in anticipation of an abundant harvest. Lean hog prices increased over 10% ahead of the July 4th holiday.
Metals: Precious metals markets moved lower, pressured by rising interest rates. Yields rose after several central bankers joined the U.S. Federal Reserve in suggesting the need to tighten monetary policy. Copper prices rose on a weaker dollar and on expectations of stronger demand from China.
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.
Account Statement
(Prepared from books without audit)
For the month ended June 30, 2017
| STATEMENT OF INCOME | |||||||
| Trading Income (Loss) | Monthly Performance | Year to Date Performance | |||||
| Realized Trading Income (Loss) | $923,898 | -$47,256 | |||||
| Change In Unrealized Income (Loss) | -5,930,034 | -5,806,674 | |||||
| Brokerage Commission | -76,990 | -438,432 | |||||
| Exchange, Clearing Fee and NFA Charges | 0 | 0 | |||||
| Other Trading Costs | -86,678 | -662,211 | |||||
| Change in Accrued Commission | 5,645 | -2,559 | |||||
| Net Trading Income (Loss) | -5,164,159 | -6,957,132 | |||||
| Other Income | Monthly Performance | Year to Date Performance | |||||
| Interest, U.S. Obligations | $67,858 | $407,653 | |||||
| Interest, Other | 26,059 | 190,200 | |||||
| U.S. Government Securities Gain (Loss) | 0 | 0 | |||||
| Dividend Income | 0 | 0 | |||||
| Total Income (Loss) | -5,070,242 | -6,359,279 | |||||
| Expenses | Monthly Performance | Year to Date Performance | |||||
| Management Fee | $0 | $0 | |||||
| Incentive Fee | -19,766 | 313,557 | |||||
| Operating Expenses | 27,628 | 189,260 | |||||
| Organization and Offering Expenses | 31,828 | 218,191 | |||||
| Brokerage Expenses | 500,284 | 3,454,608 | |||||
| Dividend Expenses | 0 | 0 | |||||
| Total Expenses | 539,974 | 4,175,616 | |||||
| Net Income (Loss) | -$5,610,216 | -$10,534,895 | |||||
Statement of Changes in Net Asset Value | Monthly Performance | Year to Date Performance | |||||
| Beginning Balance | $137,599,925 | $165,364,938 | |||||
| Additions | 0 | 102,425 | |||||
| Net Income (Loss) | -5,610,216 | -10,534,895 | |||||
| Redemptions | -3,145,805 | -26,088,564 | |||||
| Balance at June 30, 2017 | $128,843,904 | $128,843,904 | |||||
| PERFORMANCE SUMMARY BY CLASS | |||||||
| Class | Net Asset Value per Unit | Units | Net Asset Value | Monthly ROR | Year to Date ROR | ||
| A | $1,005.058 | 7,878.43945 | $7,918,285 | -4.12% | -7.30% | ||
| B | $822.986 | 97,151.14313 | $79,954,021 | -4.18% | -7.61% | ||
| Legacy 1 | $796.456 | 1,468.28397 | $1,169,423 | -3.94% | -6.23% | ||
| Legacy 2 | $778.792 | 511.77476 | $398,566 | -3.96% | -6.34% | ||
| Global 1 | $788.853 | 33,091.10042 | $26,104,021 | -3.83% | -5.96% | ||
| Global 2 | $773.188 | 1,989.65846 | $1,538,379 | -3.85% | -6.07% | ||
| Global 3 | $669.750 | 17,560.58887 | $11,761,208 | -3.99% | -6.90% | ||
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