Filed pursuant to Rule 424(b)(3)
File No. 333-202279
Grant Park Fund March 2018 Update
April 26, 2018
Supplement dated April 26, 2018 to Prospectus dated May 15, 2017
Class | Mar ROR | YTD ROR | Net Asset Value | Net Asset Value per Unit |
A | -1.13% | -5.85% | $6.17M | $988.924 |
B | -1.19% | -6.01% | $64.33M | $805.866 |
Legacy 1 | -0.94% | -5.30% | $1.08M | $797.429 |
Legacy 2 | -0.96% | -5.35% | $0.38M | $778.330 |
Global 1 | -0.90% | -4.81% | $24.13M | $795.211 |
Global 2 | -0.92% | -4.89% | $0.98M | $778.123 |
Global 3 | -1.06% | -5.31% | $1.88M | $665.190 |
ALL PERFORMANCE REPORTED IS NET OF FEES AND EXPENSES
Sector Commentary
Currencies: The U.S. dollar weakened in reaction to uncertainty concerning tariffs and trade agreements. The British pound strengthened on expectations the Bank of England will raise interest rates. The euro moved higher due to strength across the European economy. The Australian dollar weakened on declining commodity prices and an increase in Australian unemployment.
Energy: Crude oil prices rose after China launched its yuan-denominated crude oil futures contract, an event many traders were anticipating as they sought to access China's bustling commodity markets. Natural gas and heating oil prices rose on continued cold weather.
Equities: Global equities moved lower on continued volatility, downbeat macro data from Europe and fears of a trade war between the U.S. and China.
Fixed Income: U.S. fixed income prices rose amidst volatility in the stock markets and concerns over the trade tensions between China and the U.S. Gilts prices rose after the U.K. Debt Management Office announced bond sales during the coming financial year will be the lowest since the financial crisis.
Grains/Foods: Corn markets rose after the U.S. Department of Agriculture forecast an unexpected drop in inventories. Wheat markets declined as favorable weather boosted crops. Sugar prices declined on elevated supplies. Cocoa prices rose over 14% on signs of improving demand and forecasts for a smaller global surplus. Lean hog and live cattle markets moved lower on expectations of rising supplies.
Metals: Gold prices rose slightly on U.S. dollar weakness. Copper prices declined on muted demand and weak global cues.
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 March 31, 2018 | |||||||
STATEMENT OF INCOME | |||||||
Trading Income (Loss) | Monthly Performance | Year to Date Performance | |||||
Realized Trading Income (Loss) | -$1,006,565 | -$1,962,443 | |||||
Change In Unrealized Income (Loss) | 364,733 | -1,585,742 | |||||
Brokerage Commission | -36,605 | -123,326 | |||||
Exchange, Clearing Fee and NFA Charges | 0 | 0 | |||||
Other Trading Costs | -81,583 | -280,276 | |||||
Change in Accrued Commission | 154 | 9,656 | |||||
Net Trading Income (Loss) | -759,866 | -3,942,131 | |||||
Other Income | Monthly Performance | Year to Date Performance | |||||
Interest, U.S. Obligations | $59,229 | $177,687 | |||||
Interest, Other | 18,452 | 63,742 | |||||
Income from Securities | -29,615 | -936,474 | |||||
Dividend Income | 0 | 0 | |||||
Total Income (Loss) | -711,800 | -4,637,176 | |||||
Expenses | Monthly Performance | Year to Date Performance | |||||
Management Fee | $0 | $0 | |||||
Incentive Fee | -11 | 4,621 | |||||
Operating Expenses | 21,193 | 69,127 | |||||
Organization and Offering Expenses | 24,397 | 79,508 | |||||
Brokerage Expenses | 374,198 | 1,235,419 | |||||
Dividend Expenses | 0 | 0 | |||||
Total Expenses | 419,777 | 1,388,675 | |||||
Net Income (Loss) | -$1,131,577 | -$6,025,851 | |||||
Statement of Changes in Net Asset Value | Monthly Performance | Year to Date Performance | |||||
Beginning Balance | $102,325,718 | $113,483,622 | |||||
Additions | 0 | 0 | |||||
Net Income (Loss) | -1,131,577 | -6,025,851 | |||||
Redemptions | -2,248,728 | -8,512,358 | |||||
Balance at March 31, 2018 | $98,945,413 | $98,945,413 |
PERFORMANCE SUMMARY BY CLASS | ||||||||
Class | Net Asset Value per Unit | Units | Net Asset Value | Monthly ROR Year to Date ROR | ||||
A | $988.924 | 6,236.83700 | $6,167,756 | -1.13% | -5.85% | |||
B | $805.866 | 79,832.86621 | $64,334,615 | -1.19% | -6.01% | |||
Legacy 1 | $797.429 | 1,351.34563 | $1,077,602 | -0.94% | -5.30% | |||
Legacy 2 | $778.330 | 482.22166 | $375,327 | -0.96% | -5.35% | |||
Global 1 | $795.211 | 30,345.51458 | $24,131,076 | -0.90% | -4.81% | |||
Global 2 | $778.123 | 1,264.21871 | $983,717 | -0.92% | -4.89% | |||
Global 3 | $665.190 | 2,819.22085 | $1,875,319 | -1.06% | -5.31% | |||