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WILLOWBRIDGE STRATEGIC TRUST
MONTHLY REPORT/
MARCH 31, 1997
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WILLOWBRIDGE STRATEGIC TRUST
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Dear Interest Holder:
Enclosed is the report for the month of March 1997 for Willowbridge Strategic
Trust (the 'Fund'). The net asset value of an interest as of March 31, 1997 was
$118.74, an increase of 3.73% from the February 28, 1997 $114.47 value. The 1997
year-to-date return for the Fund was an increase of 14.76% as of March 31, 1997.
The Fund's positive March performance was the result of profits earned in the
grain, financial, stock index and energy sectors. Losses were incurred in the
currency, meat, metal and soft sectors.
In the grain sector, soybean, soybean meal, corn and wheat positions posted
gains. The price of soybean futures moved higher on reports by the U.S.
Department of Agriculture which showed continued high levels of export sales. In
other grain markets, wheat futures rose on strong export demand, particularly
from Asia, and weather concerns for wheat planting regions.
In the financial sector, U.S., Italian and Eurodollar positions were profitable.
Positions in U.S. bonds profited after the U.S. Federal Reserve raised its key
short-term interest rate by a quarter of a percentage point, the first increase
in more than two years. The rise in the targeted federal funds rate to 5.5% was
intended to 'cool off' the U.S. economy and stem potential inflationary
pressures. Upon the announcement, the U.S. bond market initially moved higher,
but prices fell as worries set in that the raise in rates could be the first in
a series.
In the stock index sector, S&P positions were profitable as U.S. stock markets
tumbled in anticipation of further interest rate increases. The Fund also
profited from positions in the Honk Kong Hang Seng.
The estimated net asset value per interest as of April 21, 1997 was $110.97.
Past performance is not necessarily indicative of future results.
Should you have any questions, please contact your Prudential Securities
Financial Advisor. For questions concerning your account
status, contact Prudential Securities Client Services at 1-800-535-2077.
Sincerely yours,
James M. Kelso
President & Director
PRUDENTIAL SECURITIES FUTURES
MANAGEMENT INC.
Please note that the value which appears on your Prudential Securities statement
is an estimated value at month-end. The correct value is contained in this
report.
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STATEMENT OF OPERATIONS
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<CAPTION>
For the month of March 1997
<S> <C>
Revenues:
Realized gain on commodity
transactions........................... $ 296,688
Change in unrealized commodity
positions.............................. 1,902,681
Interest income.......................... 192,073
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2,391,442
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Expenses:
Commissions.............................. 282,532
Management fee........................... 116,776
Incentive fee............................ 360,012
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759,320
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Net gain................................. $1,632,122
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</TABLE>
<TABLE>
STATEMENT OF CHANGES IN NET ASSET VALUE
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For the month of March 1997
<CAPTION>
Total Per Unit
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<S> <C> <C>
Net asset value at beginning of
month
(345,222.235 interests)....... $39,518,232 $ 114.47
Contributions................... 4,228,700
Net gain........................ 1,632,122
Redemptions..................... (378,285)
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Net asset value at end
of month
(378,977.695 interests)....... $45,000,769 118.74
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Change in net asset
value per interest......................... $ 4.27
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Percentage change............................ 3.73%
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</TABLE>
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I hereby affirm that, to the best of my knowledge and
belief, the information contained herein relating to
Willowbridge Strategic Trust is accurate and complete.
PRUDENTIAL SECURITIES FUTURES
MANAGEMENT INC.
by: Barbara J. Brooks
Treasurer
