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WILLOWBRIDGE STRATEGIC TRUST
MONTHLY REPORT/
JULY 31, 1997
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WILLOWBRIDGE STRATEGIC TRUST
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Dear Interest Holder:
Enclosed is the report for the month of July 1997 for Willowbridge Strategic
Trust (the 'Trust'). The net asset value of an interest as of July 31, 1997 was
$121.35, an increase of 14.29% from the June 30, 1997 $106.18 value. The 1997
year-to-date return for the Trust was an increase of 17.28% as of July 31, 1997.
The Trust's gain in net asset value resulted from profits recognized in the
currency, financial, index, energy, meat and metal sectors. Losses were incurred
in the soft sector.
In the currency sector, the U.S. dollar rose against the German mark partly on
concerns that the planned European Monetary Union would offer a weaker currency
with the dollar seen as a safe haven against the EMU. The mark was also affected
by sluggish economic news in Germany which contributed to the mark's fall in
value to a six-year low against the dollar. Profits were achieved in the
Australian dollar, German mark and the Swiss franc.
In the financial sector, profits were realized in the U.S. bond market and the
Standard & Poor1s 500 stock index. At the beginning of the month, a slight rise
in the U.S. Labor Department's June unemployment report eased concerns about
wage pressures. The report, combined with the Federal Reserve's decision not to
raise short-term interest rates, renewed market optimism for a scenario of a
U.S. economy with low inflation and continued growth. In the foreign financial
markets, German and Italian bond prices rose on the slow economic news.
In the metal sector, gold provided significant profits as it reached its lowest
level in 11 years. One major contributor to this price drop were gold sales by
the Australian central bank.
Losses were experienced in the soft sector as shifting inventory expectations
and fickle weather patterns altered investor sentiment, specifically in cotton
and cocoa.
The estimated net asset value per interest as of August 22, 1997 was $109.37.
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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<S> <C>
For the month of July 1997
Revenues:
Realized gain on commodity
transactions........................... $ 1,225,232
Change in unrealized commodity
positions.............................. 6,231,295
Interest income.......................... 195,932
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7,652,459
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Expenses:
Commissions.............................. 314,447
Management fee........................... 140,067
Incentive fee............................ 240,086
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694,600
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Net gain................................. $ 6,957,859
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</TABLE>
STATEMENT OF CHANGES IN NET ASSET VALUE
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For the month of July 1997
<TABLE>
<CAPTION>
Total Per Unit
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<S> <C> <C>
Net asset value at beginning of
month
(439,362.960 interests)....... $46,650,460 $ 106.18
Contributions................... 2,038,200
Net gain........................ 6,957,859
Redemptions..................... (1,501,897)
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Net asset value at end of month
(446,182.096 interests)....... $54,144,622 121.35
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Change in net asset
value per interest......................... $ 15.17
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Percentage change............................ 14.29%
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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
