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WILLOWBRIDGE STRATEGIC TRUST
MONTHLY REPORT/
SEPTEMBER 30, 1997
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WILLOWBRIDGE STRATEGIC TRUST
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Dear Interest Holder:
Enclosed is the report for the month of September 1997 for Willowbridge
Strategic Trust ('the Trust'). The net asset value of an interest as of
September 30, 1997 was $103.26, a decrease of 5.44% from the August 31, 1997
$109.20 value. The 1997 year-to-date return for the Trust was a decrease of
0.20% as of September 30, 1997.
The Trust's trading resulted in an unprofitable September. Losses were incurred
in the index, currency, soft, grain and meat sectors. Profits were achieved in
the energy and metal sectors.
During September, the Trust experienced losses as the financial markets remained
volatile throughout the month. U.S. stock index futures reversed direction
several times, experiencing substantial intra-day price movements. U.S. and
international stock indexes reflected particular sensitivity to market
expectations regarding economic and monetary conditions throughout the month. In
the interest rate markets there were losses in U.S. financials and slight
profits in international government bonds. Significant price moves in the soft
sector resulted in losses for the Trust. Coffee declined, plunging 9.3% in one
day's trading, on expectations of new supplies from Brazil and the transfer of
European coffee beans to the U.S. market. Sugar prices also dropped amid
projections of large Brazilian exports following the elimination of the sugar
export tax. Positions in cocoa were unprofitable as well.
Losses were somewhat offset by gains in the Trust's metal positions as precious
metals prices, including silver and gold, rose on indications of strengthening
demand.
The Trust saw profits in the energy sector as positions in natural gas, light
crude and heating oil profited, partly due to increasing inventories following
this summer's lows.
The estimated net asset value per interest as of October 27, 1997 was $103.34.
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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For the month of September 1997
<S> <C>
Revenues:
Realized loss on commodity
transactions........................... $(2,299,635)
Change in unrealized commodity
positions.............................. (251,024)
Interest income.......................... 185,257
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(2,365,402)
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Expenses:
Commissions.............................. 335,262
Management fee........................... 123,027
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458,289
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Net loss................................. $(2,823,691)
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</TABLE>
<TABLE>
STATEMENT OF CHANGES IN NET ASSET VALUE
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For the month of September 1997
<CAPTION>
Per
Total Unit
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<S> <C> <C>
Net asset value at beginning of
month
(460,429.854 interests)........ $50,278,274 $109.20
Contributions.................... 1,633,200
Net loss......................... (2,823,691)
Redemptions...................... (886,820)
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Net asset value at end of month
(466,797.675 interests)........ $48,200,963 103.26
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Change in net asset
value per interest.......................... $ (5.94)
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Percentage change............................. (5.44)%
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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
