[LOGO]
K E N M A R
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Allocation of
Assets to Advisors
DEC 1 NOV 1
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1998 1998
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Dreiss
19% 20%
Hirst
23% 22%
Hyman Beck
24% 24%
Sunrise
22% 22%
Willowbridge
12% 12%
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KENMAR GLOBAL TRUST
NOVEMBER 1998 SUMMARY
December 14, 1998
Kenmar Global Trust (KGT) was down -4.96% for the month of November. As of
November 30, 1998, the net asset value per unit was $110.15, up +10.04% year to
date.
Trading activity in November was characterized by choppy, trendless markets in
the currencies and interest rate sectors causing several of our traders to
suffer losses. While the major setbacks came in currencies and U.S. bonds, there
were also minor losses in the metals and tropicals. These losses were partially
offset by profits in energies and grains.
We continue to see deflationary pressures around the world and believe that this
will create trading opportunities in the futures markets going forward. In
addition, the transition to the Euro at the end of December may also provide
further opportunity as Europe attempts to assimilate a new currency into its
financial and commercial arenas.
To the best of my knowledge and belief, the above information is accurate and
complete.
Sincerely,
[SIGNATURE]
Robert L. Cruikshank
Executive Vice President
Kenmar Advisory Corp., as Managing Owner
Kenmar Global Trust
Past performance is not necessarily indicative of future results.
Performance shown is net of all fees and expenses.
Two American Lane o PO Box 5150 o Greenwich, CT o 06831.8150
Tel 203.861.1000 o Fax 203.861.1095
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KENMAR GLOBAL TRUST
Unaudited Account Statement
For the Month Ending November 30, 1998
STATEMENT OF INCOME(LOSS)
Trading Income (Loss)
Realized Trading Gain/(Loss) $ 210,152.12
Change in Unrealized Gain/(Loss) 1,123,248.98
Gain/(Loss) on Other Investments 0.00
Brokerage Commission (199,700.51)
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Total Trading Income ($1,112,797.37)
Expenses $ 0.00
Audit Fees 9,077.30
Administrative and Legal Fees 0.00
Management Fees 81,875.31
Incentive Fees (60,189.74)
Other Expenses -------------
$ 30,762.87
Total Expenses
Interest Income $ 62,434.07
Net Income (Loss) for the Period ($1,081,126.17)
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STATEMENT OF CHANGES IN NET ASSET VALUE (NAV)
Total Fund
Beginning of Month $21,786,533.49
Addition 2,156,500.00
Withdrawal (376,558.63)
Net Income/(Loss) (1,081,126.17)
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Month End $22,485,348.69
Month End NAV Per Unit $110.15
Monthly Rate of Return -4.96%
Year to Date Rate of Return 10.04%
To the best of our knowledge and belief, the information above
is accurate and complete:
Kenneth A. Shewer, Chairman Marc S. Goodman, President
KENMAR ADVISORY CORP., Managing Owner of
Kenmar Global Trust
