Filed pursuant to Rule 424(b)(3)
File No. 333-223480
Grant Park Fund August 2018 Update
September 25, 2018
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Supplement dated September 25, 2018 to Prospectus dated July 13, 2018
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Class
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August ROR
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YTD ROR
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Net Asset Value
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Net Asset Value per Unit
|
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A
|
0.01%
|
-5.86%
|
$5.00M
|
$988.899
|
|
B
|
-0.04%
|
-6.27%
|
$57.85M
|
$803.650
|
|
Legacy 1
|
0.21%
|
-4.38%
|
$1.06M
|
$805.136
|
|
Legacy 2
|
0.19%
|
-4.54%
|
$0.38M
|
$785.029
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|
Global 1
|
0.25%
|
-3.67%
|
$22.07M
|
$804.741
|
|
Global 2
|
0.23%
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-3.85%
|
$0.90M
|
$786.628
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|
Global 3
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0.10%
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-4.97%
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$0.90M
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$667.612
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ALL PERFORMANCE REPORTED IS NET OF FEES AND EXPENSES
Sector Commentary
Currencies: The U.S. dollar strengthened as the Turkish lira crisis caused investors to seek safe-haven currencies. The euro weakened as European banks were thought to have the greatest exposure to emerging market currencies. Uncertainty about a Brexit deal pressured the British pound. The New Zealand dollar weakened after the Reserve Bank of New Zealand left rates unchanged.
Energy: Crude oil prices moved higher due to several factors: reduced domestic inventories, the U.S. sanctions on Iran and supply disruptions in Libya and Venezuela. Natural gas prices rose as inventories reached an eight-year low.
Equities: U.S. equity indices rose due to gains in the technology sector, strong second-quarter earnings and news of a potential NAFTA overhaul. European equity markets declined on concerns over potential contagion from Turkey’s currency crisis.
Fixed Income: Global fixed income markets moved higher as continued trade concerns and volatility in the currency markets increased demand for safe-haven assets.
Grains/Foods: Corn, wheat and soybean markets moved lower on weak export demand and on a positive supply outlook due to favorable weather conditions. Prices across coffee markets declined over 10% on increased inventories, a weak Brazilian currency and on concerns over global economic health. Cotton prices declined after reports indicated harvests were stronger than expected.
Metals: Precious metals prices declined on a strong U.S. dollar. Copper prices declined on continued concerns of trade tariffs and on economic slowdown in 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 August 31, 2018
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STATEMENT OF INCOME
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Trading Income (Loss)
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Monthly Performance
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Year to Date Performance
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||
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Realized Trading Income (Loss)
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$276,540
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-$1,235,578
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|||||
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Change In Unrealized Income (Loss)
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229,191
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102,627
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|||||
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Brokerage Commission
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-33,354
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-296,493
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|||||
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Exchange, Clearing Fee and NFA Charges
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0
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0
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|||||
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Other Trading Costs
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-74,683
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-672,473
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|||||
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Change in Accrued Commission
|
130
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6,442
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|||||
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Net Trading Income (Loss)
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|
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397,824
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-2,095,475
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Other Income
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Monthly Performance
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Year to Date Performance
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Interest, U.S. Obligations
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$57,902
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$473,258
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|||||
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Interest, Other
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20,555
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148,756
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Income from Securities
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17,771
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-989,492
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Dividend Income
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0
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0
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|||||
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Total Income (Loss)
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|
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494,052
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-2,462,953
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|
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Expenses
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|
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Monthly Performance
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Year to Date Performance
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Management Fee
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$0
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$0
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|||||
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Incentive Fee
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62,683
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67,304
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|||||
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Operating Expenses
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19,045
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167,978
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|||||
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Organization and Offering Expenses
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21,856
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193,010
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|||||
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Brokerage Expenses
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349,305
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3,033,334
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|||||
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Dividend Expenses
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0
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0
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Total Expenses
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452,889
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3,461,626
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|
|
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Net Income (Loss)
|
|
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$41,163
|
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-$5,924,579
|
|
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Statement of Changes in Net Asset Value
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Monthly Performance
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Year to Date Performance
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|||
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Beginning Balance
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$90,866,550
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$113,483,622
|
|||||
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Additions
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0
|
166
|
|||||
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Net Income (Loss)
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41,163
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-5,924,579
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|||||
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Redemptions
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-2,751,498
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-19,402,994
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Balance at August 31, 2018
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|
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$88,156,215
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$88,156,215
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|
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PERFORMANCE SUMMARY BY CLASS
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Class
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Net Asset Value per Unit
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Units
|
Net Asset Value
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Monthly ROR Year to Date ROR
|
||||
|
A
|
$988.899
|
|
5,058.34551
|
$5,002,192
|
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0.01%
|
-5.86%
|
|
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B
|
$803.650
|
|
71,978.42144
|
$57,845,457
|
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-0.04%
|
-6.27%
|
|
|
Legacy 1
|
$805.136
|
|
1,317.53489
|
$1,060,795
|
|
0.21%
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-4.38%
|
|
|
Legacy 2
|
$785.029
|
|
482.22166
|
$378,558
|
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0.19%
|
-4.54%
|
|
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Global 1
|
$804.741
|
27,424.96252
|
$22,069,997
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0.25%
|
-3.67%
|
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Global 2
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$786.628
|
|
1,142.90187
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$899,039
|
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0.23%
|
-3.85%
|
|
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Global 3
|
$667.612
|
1,348.35465
|
$900,178
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0.10%
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-4.97%
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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