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KENMAR GLOBAL TRUST
UNAUDITED ACCOUNT STATEMENT
FOR THE MONTH ENDING JUNE 30, 2000
STATEMENT OF INCOME (LOSS)
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TRADING INCOME (LOSS)
Realized Trading Gain/(Loss) $739,189.72
Change in Unrealized Gain/(Loss) ($1,050,947.95)
Gain/(Loss) on Other Investments ($1,254.15)
Brokerage Commission ($194,990.05)
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Total Trading Income ($508,002.43)
EXPENSES
Audit Fees 0.00
Administrative and Legal Fees $9,863.18
Management Fees $0.00
Incentive Fees ($49,051.16)
Other Expenses 0.00
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Total Expenses ($39,187.98)
Interest Income $100,362.09
NET INCOME (LOSS) FROM THE PERIOD ($368,452.36)
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STATEMENT OF CHANGES IN NET ASSET VALUE (NAV)
Beginning of Month $21,271,640.92
Addition $176,755.00
Withdrawal ($727,948.60)
Net Income/(Loss) ($368,452.36)
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Month End $20,351,994.95
Month End NAV Per Unit $97.47
Monthly Rate of Return -1.73%
Year to Date Rate of Return -2.12%
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., General Partner of
Kenmar Global Trust
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ALLOCATION OF
ASSETS TO ADVISORS
JUL 1 JUN 1
2000 2000
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Beacon
4% 4%
Bridgewater
37% 36%
Grinham
24% 24%
Sunrise
16% 16%
Transtrend
19% 20%
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KENMAR GLOBAL TRUST
JUNE 2000 SUMMARY
JULY 17, 2000
Prices in currency and global interest rate markets moved in a sideways fashion
during the month as global investors waited for clearer signals on the outlook
for interest rates. With few trends to grab hold of. Kenmar Global Trust ("KGT")
experienced its largest declines in these markets. Overall, however, there were
no out-sized gains or losses in the period. Positions in metals and meats were
also unprofitable. Positions in global stock indices, energy and grains
generated gains. KGT ended June down 1.7%, net of fees and expenses. The Net
Asset Value per Unit of KGT was $97.47 as of June 30, 2000.
MARKET OVERVIEW
Global interest rate and currency markets were unstable in June, as they have
been for much of the second quarter, pending central banks' decisions on
interest rates. Trading volume was light, reflecting investors' preference to
stay on the sidelines until interest rate scenarios were clearer. As a result,
prices in these markets moved in a seesaw pattern, with some sectors ending the
month relatively unchanged. Despite intermittent volatility, for example, the
euro ended June where it began - at less than a U.S. dollar. Global stock
indices were more directional; both the Nasdaq and the S&P 500 Index ended the
period higher, as did major equity markets in Asia. Performance in Europe was
mixed. elsewhere, high energy prices continued to capture headlines. The rise in
crude oil and other energy products helped boost the Bridge-CRB index of 17
commodities to its highest level since April 1998. Finally, from a macroeconomic
perspective, investors seemed poised for a sea change - a shift of investment
opportunities from the U.S., where the economy may be cooling, to Europe, where
economic growth is strengthening.
PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS.
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KENMAR GLOBAL TRUST
JUNE 2000 SUMMARY
PERFORMANCE SUMMARY
Global interest rate markets were trendless in June, particularly in U.S.
sectors as concerns about the impact of rising oil prices competed with optimism
that the Fed won't need to raise rates again. KGT was unprofitable in all
markets traded in the interest rate sector. Meanwhile, currencies also seesawed,
staying within tight trading ranges. Gains in the euro and Canadian dollar were
offset by unprofitable positions in other currencies. Positions in metals also
posed a challenge for KGT: except for copper, nickel and platinum, performance
in other metals traded declined. On the positive side, gains were generated in
global stock indices, particularly in European and Pacific Rim indices. European
markets generally trended downward, but could be count on to rally whenever U.S.
data indicated a slowing economy across he Atlantic. Except for natural gas and
gasoline, KGT recorded profits in all energy sectors traded. Gains in grains
were led by positions in corn. Corn prices declined sharply at month-end on
better-than-expected inventory reports.
To the best of my knowledge and belief, the above information is accurate and
complete.
Sincerely,
/s/ ESTHER ECKERLING GOODMAN
Esther Eckerling Goodman
Chief Operating Officer and Senior Executive Vice President
Kenmar Advisory Corp., as Managing Owner
Kenmar Global Trust
PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS
