KENMAR GLOBAL TRUST
MARCH 1999 SUMMARY
April 12, 1999
The net asset value per unit of Kenmar Global Trust (KGT) was down -8.46% for
the month of March. As of March 31, 1999, the net asset value per unit was
$103.53.
March was a difficult month and our results were the worst for any month since
inception of the Fund. The primary cause was that the traditional commodities
that had been producing excellent profits for the past few months reversed mid
month and caused significant losses for the balance of the month.
All 5 traders lost money and 9 out of the 10 sectors traded were unprofitable in
March. Most significant losses occurred in grains, energy, precious and base
metals. In addition, financials and indexes were negative. The only profitable
area was currencies.
Results like these are never pleasant to report but we have seen them before and
they do occur periodically. As you recall, during last year we had some
difficult months, one which was -6%. yet, when the year was over, we ended with
a double-digit up year.
Volatility is a fact of life and it does occur on both sides of the market. As
you also recall, we had a +13% month last year. We have made no trader changes
and believe that despite the negative results for March, the traders are in a
position to take advantage of trading opportunities when they occur.
A new prospectus dated March 31, 1999 has been mailed to you. If you did not
receive it, please contact our investor hotline at 203-861-1025.
To the best of my knowledge and belief, the information above is accurate and
complete.
Sincerely,
/s/ ROBERT L. CRUIKSHANK
- -----------------------------------------
Robert L. Cruikshank
Executive Vice President
Kenmar Advisory Corp., as Managing Owner
Kenmar Global Trust
- ----------------------
ALLOCATION OF
ASSETS TO ADVISORS
APR 1 MAR 1
1999 1999
---- ----
Dreiss
15% 19%
Hirst
24% 23%
Hyman Beck
24% 24%
Sunrise
24% 21%
Willowbridge
13% 13%
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PERFORMANCE SHOWN IS NET OF ALL FEES AND EXPENSES.
PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS
<PAGE>
KENMAR GLOBAL TRUST
UNAUDITED ACCOUNT STATEMENT
FOR THE MONTH ENDING MARCH 31,1999
STATEMENT OF INCOME (LOSS)
TRADING INCOME (LOSS)
Realized Trading Gain/(Loss) $ (653,312.42)
Change in Unrealized Gain/Loss) (1,512,016.83)
Gain/Loss on Other Investments 0.00
Brokerage Commission (244,135.16)
--------------
Total Trading Income $(2,409,464.41)
EXPENSES
Audit Fees $ 0.00
Administrative and Legal Fees 19,589.05
Management Fees 0.00
Incentive Fees (84,300.47)
Other Expenses 1,245.00
--------------
Total Expenses $ (63,466.42)
INTEREST INCOME $ 92,148.62
NET INCOME (LOSS) FOR THE PERIOD $(2,253,849.37)
==============
STATEMENT OF CHANGES IN NET ASSET VALUE (NAV)
Total Fund
Beginning of Month $26,632,922.59
Addition 1,249,070.00
Withdrawal (373,011.03)
Net Income/(Loss) (2,253,849.37)
--------------
Month End $25,255,132.19
Month End NAV Per Unit $103.53
Monthly Rate of Return -8.46%
Year to Date Rate of Return -8.53%
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
