Filed pursuant to Rule 424(b)(3)
File No. 333-223480
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Grant Park Fund February 2019 Update
March 21, 2019
Supplement dated March 21, 2019 to Prospectus dated July 13, 2018
Class | February ROR | YTD ROR | Net Asset Value | Net Asset Value per Unit |
A | 0.80% | -0.55% | $4.60M | $941.068 |
B | 0.74% | -0.65% | $50.03M | $762.288 |
Legacy 1 | 0.99% | -0.16% | $0.56M | $775.081 |
Legacy 2 | 0.97% | -0.20% | $0.32M | $754.779 |
Global 1 | 1.04% | -0.07% | $18.51M | $776.844 |
Global 2 | 1.02% | -0.11% | $0.72M | $758.405 |
Global 3 | 0.87% | -0.40% | $0.58M | $637.977 |
ALL PERFORMANCE REPORTED IS NET OF FEES AND EXPENSES
Sector Commentary
Currencies: The U.S. dollar strengthened on hopes for progress in trade talks between the U.S. and China. The Australian and New Zealand dollars weakened after Australia’s central bank considered a possible rate cut as it acknowledged growing economic risks. The Japanese yen fell following data of weakening economic performance. The British pound strengthened after Prime Minister Theresa May said Parliament will be allowed to vote on a “no-deal” Brexit or delay.
Energy: Crude oil prices rose due to new U.S. imposed sanctions on Venezuela, reduced output by OPEC and a continued slowdown in U.S. drilling activity. Heating oil prices moved higher on lower inventories.
Equities: Global equity markets rose on reports of progress in trade talks between the U.S. and China and a boost in energy stocks amid rising oil prices.
Fixed Income: Global fixed income markets declined slightly on optimism for a U.S.-China trade deal and easing Brexit fears.
Grains/Foods: Wheat and corn markets fell on muted demand and abundant supplies. Coffee prices declined over 10% due to excess supplies and a weaker Brazilian real. Cocoa markets moved higher as demand increased and concerns arose about poor weather conditions in the Ivory Coast. Cotton markets moved higher on optimism about a possible trade deal between the U.S. and China.
Metals: Gold and silver markets moved lower as a stronger dollar reduced demand for the safe-haven assets. Copper and other base metal prices rose on firming demand and hopes of a U.S.-China trade deal.
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
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 February 28, 2019
STATEMENT OF INCOME | | |
Trading Income (Loss) | Monthly Performance | Year to Date Performance
|
Realized Trading Income (Loss) | $1,576,666 | $1,006,852 |
Change In Unrealized Income (Loss) | -601,278 | -708,713 |
Brokerage Commission | -27,697 | -46,320 |
Exchange, Clearing Fee and NFA Charges | 0 | 0 |
Other Trading Costs | -70,428 | -145,154 |
Change in Accrued Commission | -1,935 | -1,820 |
Net Trading Income (Loss) | 875,328 | 104,845 |
| | |
Other Income | Monthly Performance | Year to Date Performance
|
Interest, U.S. Obligations | $68,754 | $142,513 |
Interest, Other | 19,089 | 27,062 |
Income from Securities | 0 | 0 |
Dividend Income | 0 | 0 |
Total Income (Loss) | 963,171 | 274,420 |
| | |
Expenses | Monthly Performance | Year to Date Performance
|
Management Fee | $0 | $0 |
Incentive Fee | 0 | 0 |
Operating Expenses | 16,118 | 32,227 |
Organization and Offering Expenses | 18,559 | 37,113 |
Brokerage Expenses | 296,732 | 590,628 |
Dividend Expenses | 0 | 0 |
Total Expenses | 331,409 | 659,968 |
| | |
Net Income (Loss) | $631,762 | -$385,548 |
| | |
Statement of Changes in Net Asset Value | Monthly Performance | Year to Date Performance
|
Beginning Balance | $76,331,696 | $77,934,699 |
Additions | 0 | 0 |
Net Income (Loss) | 631,762 | -385,548 |
Redemptions | -1,632,980 | -2,218,673 |
Balance at February 28, 2019 | $75,330,478 | $75,330,478 |
PERFORMANCE SUMMARY BY CLASS | | |
| Class | Net Asset Value per Unit | Units
| Net Asset Value | Monthly ROR | Year to Date ROR | |
| A | $941.068 | 4,888.57347 | $4,600,482 | 0.80% | -0.55% | |
| B | $762.288 | 65,631.68938 | $50,030,255 | 0.74% | -0.65% | |
| Legacy 1 | $775.081 | 726.19883 | $562,863 | 0.99% | -0.16% | |
| Legacy 2 | $754.779 | 430.02681 | $324,575 | 0.97% | -0.20% | |
| Global 1 | $776.844 | 23,824.75743 | $18,508,113 | 1.04% | -0.07% | |
| Global 2 | $758.405 | 951.34413 | $721,504 | 1.02% | -0.11% | |
| Global 3 | $637.977 | 913.33504 | $582,687 | 0.87% | -0.40% | |
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