Filed pursuant to Rule 424(b)(3)
File No. 333-202279
Grant Park Fund May 2018 Update
Supplement dated June 28, 2018 to Prospectus dated May 15, 2017
Class | May ROR | YTD ROR | Net Asset Value | Net Asset Value per Unit |
A | -3.19% | -7.87% | $6.04M | $967.690 |
B | -3.24% | -8.13% | $59.85M | $787.703 |
Legacy 1 | -3.00% | -6.97% | $1.03M | $783.322 |
Legacy 2 | -3.02% | -7.07% | $0.37M | $764.240 |
Global 1 | -2.96% | -6.41% | $22.82M | $781.862 |
Global 2 | -2.98% | -6.52% | $0.90M | $764.741 |
Global 3 | -3.12% | -7.21% | $1.05M | $651.837 |
ALL PERFORMANCE REPORTED IS NET OF FEES AND EXPENSES
Sector Commentary
Currencies: The U.S. dollar strengthened and the euro weakened due to political uncertainty in the Eurozone and on expectations of higher interest rates. The British pound weakened in reaction to lower inflation figures and weaker-than-expected economic data.
Energy: Crude oil prices moved lower on increased U.S. crude oil production and on speculation OPEC might raise output. Natural gas prices rose as inventories were unexpectedly lower and forecasts were revised to expect a warmer-than-anticipated summer season.
Equities: U.S. equities moved higher on the potential for a meeting between the United States and North Korea. The FTSE 100 Index rose as trade tensions between the U.S. and China eased. The Euro Stoxx 50 Index moved lower on uncertainty surrounding Italian elections and the reemergence of tariff issues.
Fixed Income: Global fixed income markets moved higher as a result of geopolitical uncertainty in Europe, the Middle East and Asia, and on central bank uncertainty about the pace of increasing interest rates.
Grains/Foods: Wheat markets rose on concerns about dry weather in the U.S. southern plains. Soybean prices declined after buyers canceled a deal to purchase 949,000 tons of soybeans. Sugar markets rose over 10% as labor strikes in Brazil disrupted supply. Coffee prices also rose due to concerns over the labor strikes in Brazil.
Metals: Gold prices declined on U.S. dollar strength. Base metal prices, particularly nickel, rose on increased demand from the stainless steel and clean technology industries.
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 May 31, 2018 | |||||||
STATEMENT OF INCOME | |||||||
Trading Income (Loss) | Monthly Performance | Year to Date Performance | |||||
Realized Trading Income (Loss) | $800,193 | -$1,053,488 | |||||
Change In Unrealized Income (Loss) | -3,255,821 | -3,303,367 | |||||
Brokerage Commission | -39,767 | -197,446 | |||||
Exchange, Clearing Fee and NFA Charges | 0 | 0 | |||||
Other Trading Costs | -75,561 | -441,612 | |||||
Change in Accrued Commission | 2,460 | 6,819 | |||||
Net Trading Income (Loss) | -2,568,496 | -4,989,094 | |||||
Other Income | Monthly Performance | Year to Date Performance | |||||
Interest, U.S. Obligations | $60,951 | $298,979 | |||||
Interest, Other | 21,417 | 98,789 | |||||
Income from Securities | -202,126 | -1,209,790 | |||||
Dividend Income | 0 | 0 | |||||
Total Income (Loss) | -2,688,254 | -5,801,116 | |||||
Expenses | Monthly Performance | Year to Date Performance | |||||
Management Fee | $0 | $0 | |||||
Incentive Fee | 0 | 4,621 | |||||
Operating Expenses | 19,871 | 109,962 | |||||
Organization and Offering Expenses | 22,832 | 126,451 | |||||
Brokerage Expenses | 361,210 | 1,979,308 | |||||
Dividend Expenses | 0 | 0 | |||||
Total Expenses | 403,913 | 2,220,342 | |||||
Net Income (Loss) | -$3,092,167 | -$8,021,458 | |||||
Statement of Changes in Net Asset Value | Monthly Performance | Year to Date Performance | |||||
Beginning Balance | $97,791,190 | $113,483,622 | |||||
Additions | 166 | 166 | |||||
Net Income (Loss) | -3,092,167 | -8,021,458 | |||||
Redemptions | -2,639,492 | -13,402,633 | |||||
Balance at May 31, 2018 | $92,059,697 | $92,059,697 |
PERFORMANCE SUMMARY BY CLASS | |||||||||
Class | Net Asset Value per Unit | Units | Net Asset Value | Monthly ROR | Year to Date ROR | ||||
A | $967.690 | 6,237.00212 | $6,035,486 | -3.19% | -7.87% | ||||
B | $787.703 | 75,978.65697 | $59,848,652 | -3.24% | -8.13% | ||||
Legacy 1 | $783.322 | 1,317.53489 | $1,032,054 | -3.00% | -6.97% | ||||
Legacy 2 | $764.240 | 482.22166 | $368,533 | -3.02% | -7.07% | ||||
Global 1 | $781.862 | 29,187.31928 | $22,820,464 | -2.96% | -6.41% | ||||
Global 2 | $764.741 | 1,179.17853 | $901,766 | -2.98% | -6.52% | ||||
Global 3 | $651.837 | 1,615.03657 | $1,052,740 | -3.12% | -7.21% | ||||
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