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WILLOWBRIDGE STRATEGIC TRUST
MONTHLY REPORT/
JUNE 30, 1997
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WILLOWBRIDGE STRATEGIC TRUST
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Dear Interest Holder:
Enclosed is the report for the month of June 1997 for Willowbridge Strategic
Trust (the 'Trust'). The net asset value of an interest as of June 30, 1997 was
$106.18, a decrease of 5.02% from the May 31, 1997 $111.79 value. The 1997
year-to-date return for the Trust was an increase of 2.62% as of June 30, 1997.
The Trust's decline in net asset value resulted from losses incurred in the
financial, metal, grain, energy and meat sectors. Profits were earned in the
currency, index and soft sectors.
There were a number of cross currents in the European financial and currency
markets in June. These included conflicting market expectations concerning
levels of economic activity in a number of countries, as well as the degree of
stringency that would be required for entrance into the European Monetary Union.
As a result, profits were achieved in the British pound. In the financial
sector, positions in British, German, Swiss and French bonds were unprofitable.
Additionally, Japanese interest rates declined during the month causing moderate
losses in Japanese bonds. These losses were partially offset by profits in the
yen as it strengthened due to Japan's growing trade surplus.
In the metal sector, copper, which was profitable this year for the Trust,
reversed direction mid-month, falling on market concerns which included a
possible seasonal decline in demand in the northern hemisphere. There was also
news that output at Chile's El Teniente mine would return to normal and that
production at Inco's strike-bound Sudbury facility in Canada might resume
production. In the grain sector, profits achieved earlier in the year in the
soybean complex were reduced due to a drop in prices early in June. The earlier
strength in soybean prices had resulted from very tight supplies in the United
States. However, imports of soybeans from Brazil have at least temporarily
alleviated the supply concerns.
The estimated net asset value per interest as of July 21, 1997 was $109.81. 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>
STATEMENT OF OPERATIONS
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<S> <C>
For the month of June 1997
Revenues:
Realized loss on commodity
transactions........................... $(1,586,501)
Change in unrealized commodity
positions.............................. (675,544)
Interest income.......................... 177,410
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(2,084,635)
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Expenses:
Commissions.............................. 325,201
Management fee........................... 119,860
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445,061
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Net loss................................. $(2,529,696)
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</TABLE>
STATEMENT OF CHANGES IN NET ASSET VALUE
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For the month of June 1997
<TABLE>
<CAPTION>
Total Per Unit
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<S> <C> <C>
Net asset value at beginning of
month
(428,277.945 interests)....... $47,878,955 $ 111.79
Contributions................... 2,474,800
Net loss........................ (2,529,696)
Redemptions..................... (1,173,599)
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Net asset value at end of month
(439,362.960 interests)....... $46,650,460 106.18
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Change in net asset
value per interest......................... $ (5.61)
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Percentage change............................ (5.02)%
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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
