Grant Park Futures Fund Limited Partnership
Filed: 22 May 18, 2:49pm
Filed pursuant to Rule 424(b)(3)
File No. 333-202279
Grant Park Fund April 2018 Update
May 22, 2018
Supplement dated May 22, 2018 to Prospectus dated May 15, 2017
| Class | April ROR | YTD ROR | Net Asset Value | Net Asset Value per Unit |
| A | 1.08% | -4.84% | $6.23M | $999.592 |
| B | 1.02% | -5.04% | $63.15M | $814.116 |
| Legacy 1 | 1.27% | -4.09% | $1.08M | $807.586 |
| Legacy 2 | 1.25% | -4.17% | $0.38M | $788.079 |
| Global 1 | 1.32% | -3.56% | $24.22M | $805.710 |
| Global 2 | 1.30% | -3.65% | $0.93M | $788.232 |
| Global 3 | 1.15% | -4.22% | $1.80M | $672.846 |
ALL PERFORMANCE REPORTED IS NET OF FEES AND EXPENSES
Sector Commentary
Currencies: The U.S. dollar strengthened on rising U.S. bond yields. The British pound weakened as poor economic performance in the first quarter reduced expectations the Bank of England will raise rates during May. The Japanese yen weakened as continued global growth reduced demand for the safe haven currency. The New Zealand dollar weakened as New Zealand government bond yields declined and on expectations the central bank will not raise the official cash rate until next year.
Energy: Crude oil prices moved higher due to OPEC production cuts and the potential for new U.S. sanctions against Iran. Natural gas and heating oil prices rose due to reduced supplies and forecasts for cooler weather.
Equities: Global equities rose after China’s President Xi Jinping reiterated pledges to open sectors of the Chinese economy to international investment as part of China’s economic globalization. Positive earnings reports also boosted the markets.
Fixed Income: Global fixed income markets fell after the Federal Reserve confirmed its commitment to raising rates; several officials are in favor of raising rates at a slightly faster pace than is currently planned. The markets also reacted to soft economic data in the U.K. and the Bank of England’s cautionary remarks that a rate hike at the next BOE meeting is not assured.
Grains/Foods: Wheat markets rose over 13% on concerns dry weather in the U.S. southern plains could significantly reduce crop yields. Corn prices rose after the USDA confirmed U.S. corn planting progress was running behind schedule due to adverse weather and poor ground conditions. Coffee prices rose on the possibility an upcoming frost season in Brazil could affect supplies. Cocoa markets declined on an improving crop outlook in the Ivory Coast, a key producer of the crop.
Metals: Gold and platinum prices declined slightly on U.S. dollar strength. Copper and base metal prices rose on increasing demand.
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 April 30, 2018 | |||||||
| STATEMENT OF INCOME | |||||||
| Trading Income (Loss) | Monthly Performance | Year to Date Performance | |||||
| Realized Trading Income (Loss) | $108,762 | -$1,853,681 | |||||
| Change In Unrealized Income (Loss) | 1,538,196 | -47,546 | |||||
| Brokerage Commission | -34,353 | -157,679 | |||||
| Exchange, Clearing Fee and NFA Charges | 0 | 0 | |||||
| Other Trading Costs | -85,775 | -366,051 | |||||
| Change in Accrued Commission | -5,297 | 4,359 | |||||
| Net Trading Income (Loss) | 1,521,533 | -2,420,598 | |||||
| Other Income | Monthly Performance | Year to Date Performance | |||||
| Interest, U.S. Obligations | $60,341 | $238,028 | |||||
| Interest, Other | 13,630 | 77,372 | |||||
| Income from Securities | -71,190 | -1,007,664 | |||||
| Dividend Income | 0 | 0 | |||||
| Total Income (Loss) | 1,524,314 | -3,112,862 | |||||
| Expenses | Monthly Performance | Year to Date Performance | |||||
| Management Fee | $0 | $0 | |||||
| Incentive Fee | 0 | 4,621 | |||||
| Operating Expenses | 20,964 | 90,091 | |||||
| Organization and Offering Expenses | 24,111 | 103,619 | |||||
| Brokerage Expenses | 382,679 | 1,618,098 | |||||
| Dividend Expenses | 0 | 0 | |||||
| Total Expenses | 427,754 | 1,816,429 | |||||
| Net Income (Loss) | $1,096,560 | -$4,929,291 | |||||
| Statement of Changes in Net Asset Value | Monthly Performance | Year to Date Performance | |||||
| Beginning Balance | $98,945,413 | $113,483,622 | |||||
| Additions | 0 | 0 | |||||
| Net Income (Loss) | 1,096,560 | -4,929,291 | |||||
| Redemptions | -2,250,783 | -10,763,141 | |||||
| Balance at April 30, 2018 | $97,791,190 | $97,791,190 | |||||
| PERFORMANCE SUMMARY BY CLASS | ||||||||
| Class | Net Asset Value per Unit | Units | Net Asset Value | Monthly ROR Year to Date ROR | ||||
| A | $999.592 | 6,236.83700 | $6,234,295 | 1.08% | -4.84% | |||
| B | $814.116 | 77,565.60024 | $63,147,413 | 1.02% | -5.04% | |||
| Legacy 1 | $807.586 | 1,337.95958 | $1,080,518 | 1.27% | -4.09% | |||
| Legacy 2 | $788.079 | 482.22166 | $380,029 | 1.25% | -4.17% | |||
| Global 1 | $805.710 | 30,060.77171 | $24,220,272 | 1.32% | -3.56% | |||
| Global 2 | $788.232 | 1,179.17853 | $929,466 | 1.30% | -3.65% | |||
| Global 3 | $672.846 | 2,674.01098 | $1,799,197 | 1.15% | -4.22% | |||
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