Gresham Investment Management Responds to CFTC on No-Action Letter

NEW YORK - (BUSINESS WIRE) - In response to the Commodity Futures Trading Commission's (CFTC) notification regarding position limits in certain agricultural positions in soybeans, corn and wheat futures, Jon Spencer, President of Gresham Investment Management said: "The Commission's action today was expected and follows on thoughtful discussions with the Commission's Chairman and staff and Gresham's presentation at recent public hearings related to this topic. We are confident that it will have no impact on Gresham's current investors. We remain committed to working with the Commission, our clients and other market participants to ensure that pension funds, philanthropic foundations, academic institutions and other investors continue to have the opportunity Gresham has always sought to provide: participation in the commodities markets based on transparency and a level playing field."