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WILLOWBRIDGE STRATEGIC TRUST
MONTHLY REPORT/
AUGUST 31, 1997
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WILLOWBRIDGE STRATEGIC TRUST
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Dear Interest Holder:
Enclosed is the report for the month of August 1997 for Willowbridge Strategic
Trust (the 'Trust'). The net asset value of an interest as of August 31, 1997
was $109.20, a decrease of 10.01% from the July 31, 1997 $121.35 value. The 1997
year-to-date return for the Trust was an increase of 5.54% as of August 31,
1997.
The Trust's trading resulted in losses for the month of August. Losses were
incurred in the currency, financial, metal, index, meat and grain sectors.
Profits were achieved in the soft and energy sectors.
The majority of the Trust's losses in August were the result of market reversals
early in the month in the currency and financial sectors. The currency reversals
were accompanied by a higher United Kingdom base interest rate increase and
market concerns about a possible rise in U.S. interest rates. While the Trust
took early profits in the U.S. dollar relative to European currencies, this was
not enough to offset losses in the Japanese yen and British pound. The effect of
the currency reversals and the concerns about possible higher interest rates
caused a sharp reversal as well in U.S. and international bond prices and in
U.S. and European stock markets. As a result, in the financial sector the Trust
incurred losses in U.S., Swiss, German, Italian, French and Japanese bonds. In
addition, in the index sector the Trust had losses in the S&P 500 and CAC 40
indices.
In the metal sector, base metal prices declined in the latter part of August as
low global rates of inflation were viewed as negative to commodity prices by
some market participants. There was also some market concerns about possible
lower levels of Far East demand for base metals.
In the soft sector, the Trust recognized gains in cocoa, coffee and sugar
positions.
The estimated net asset value per interest as of September 24, 1997 was $102.21.
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.
<TABLE>
<S> <C>
STATEMENT OF OPERATIONS
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For the month of August 1997
Revenues:
Realized gain on commodity
transactions........................... $ 1,225,674
Change in unrealized commodity
positions.............................. (6,832,335)
Interest income.......................... 207,617
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(5,399,044)
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Expenses:
Commissions.............................. 364,904
Management fee........................... 127,427
Incentive fee............................ (233,606)
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258,725
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Net loss................................. $(5,657,769)
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</TABLE>
STATEMENT OF CHANGES IN NET ASSET VALUE
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For the month of August 1997
<TABLE>
<CAPTION>
Per
Total Unit
<S> <C> <C>
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Net asset value at beginning of
month
(446,182.096 interests)........ $54,144,622 $121.35
Contributions.................... 2,356,700
Net loss......................... (5,657,769)
Redemptions...................... (565,279)
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Net asset value at end of month
(460,429.854 interests)........ $50,278,274 109.20
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Change in net asset
value per interest.......................... $(12.15)
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Percentage change............................. (10.01)%
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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
