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WILLOWBRIDGE STRATEGIC TRUST
MONTHLY REPORT/
DECEMBER 31, 1997
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WILLOWBRIDGE STRATEGIC TRUST
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Dear Interest Holder:
Enclosed is the report for the month of December 1997 for Willowbridge Strategic
Trust (the 'Trust'). The net asset value of an interest as of December 31, 1997
was $102.96, an increase of 3.44% from the November 30, 1997 value of $99.54.
The calendar year 1997 return for the Trust was a decrease of .49%.
The Trust's trading resulted in positive returns for December. Gains were seen
in the financial, currency, metal and energy sectors. Losses were experienced in
the grain, soft, index and meat sectors.
During the course of the month, the Trust had gains in the financial and
currency markets reflecting global deflationary pressures as a result of turmoil
in Asia and slow growth in Europe. Liquidity in the financial markets flowed to
the perceived safety of the U.S. dollar toward U.S. and European government
bonds. This produced strong directional price movements that were profitable for
the Trust. Additionally, the U.S. dollar continued to climb relative to the
Japanese yen, extending gains from November. Profits were also achieved in the
financial sector as heightened fears regarding the Asian crisis drove European
and U.S. bond prices higher.
In the metal sector, the Trust gained as silver prices rose on indications of
tight supplies. Gold positions were also profitable as prices continued to
decline, partially due to the selling of gold reserves by various central banks.
Gains were offset by losses in the grain sector due, in part, to concerns about
reduced Asian demand for soybean-related products. Additionally, the Fund
incurred losses in the soft sector, primarily in coffee positions, as reports
indicating larger Brazilian crops caused prices to fall. Positions in the S&P
500 and pork bellies were unprofitable as well.
The estimated net asset value per interest as of January 23, 1998 was $108.98.
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.
In connection with your investment in the Fund, you will receive 1997 tax
information on Schedule K-1. If you have any questions concerning your K-1,
please call the K-1 hotline at 1-800-688-6734.
Sincerely yours,
Thomas M. Lane, Jr.
President & Director
PRUDENTIAL SECURITIES FUTURES
MANAGEMENT INC.
We are pleased to announce that effective December 1997, Thomas M. Lane, Jr. was
appointed the head of the Managed Futures Department at Prudential Securities
Incorporated and selected by the Board of Directors of Prudential Securities
Futures Management Inc. as its President and a Director, replacing James M.
Kelso. Mr. Lane joined Prudential Securities Incorporated in September 1995 as
Senior Vice President of Futures Sales and Execution Services. He is a Director
of the National Futures Association and is also a member of Prudential
Securities Incorporated's Operating Council.
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.
STATEMENT OF OPERATIONS
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<TABLE>
<S> <C>
For the month of December 1997
Revenues:
Realized gain on commodity
transactions....................... $2,061,448
Change in unrealized commodity
positions.......................... (191,407)
Interest income...................... 189,901
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2,059,942
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Expenses:
Commissions.......................... 306,641
Management fee....................... 123,084
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429,725
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Net gain............................. $1,630,217
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</TABLE>
STATEMENT OF CHANGES IN NET ASSET VALUE
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For the month of December 1997
<TABLE>
<CAPTION>
Per
Total Unit
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<S> <C> <C>
Net asset value at
beginning of month
(468,071.037 interests)... $46,591,150 $99.54
Contributions............... 889,000
Net gain.................... 1,630,217
Redemptions................. (1,385,332)
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Net asset value at end
of month
(463,547.078 interests)... $47,725,035 102.96
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Change in net asset
value per interest........ $3.42
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Percentage change........... 3.44%
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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
