<PAGE>
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-Q
(Mark One)
/X/ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
ACT OF 1934
For the quarterly period ended March 31, 2000
OR
/ / TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
ACT OF 1934
For the transition period from _______________________ to ______________________
Commission file number: 0-25785
WORLD MONITOR TRUST--SERIES A
- --------------------------------------------------------------------------------
(Exact name of Registrant as specified in its charter)
Delaware 13-3985040
- --------------------------------------------------------------------------------
(State or other jurisdiction of (I.R.S. Employer Identification No.)
incorporation or organization)
One New York Plaza, 13th Floor, New York, New York 10292
- --------------------------------------------------------------------------------
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (212) 778-7866
N/A
- --------------------------------------------------------------------------------
Former name, former address and former fiscal year, if changed since last report
Indicate by check CK whether the Registrant (1) has filed all reports
required to be filed by Section 13 or 15(d) of the Securities Exchange Act of
1934 during the preceding 12 months (or for such shorter period that the
Registrant was required to file such reports), and (2) has been subject to such
filing requirements for the past 90 days. Yes _CK_ No __
<PAGE>
PART I. FINANCIAL INFORMATION
ITEM I. FINANCIAL STATEMENTS
WORLD MONITOR TRUST--SERIES A
(a Delaware Business Trust)
STATEMENTS OF FINANCIAL CONDITION
(Unaudited)
<TABLE>
<CAPTION>
March 31, December 31,
2000 1999
<S> <C> <C>
- ---------------------------------------------------------------------------------------------------
ASSETS
Cash $20,667,971 $26,587,416
Net unrealized gain (loss) on open futures contracts (329,813) 924,338
Accrued interest receivable 2,785 --
----------- ------------
Total assets $20,340,943 $27,511,754
----------- ------------
----------- ------------
LIABILITIES AND TRUST CAPITAL
Liabilities
Commissions payable $ 153,696 $ 185,065
Management fees payable 34,634 48,596
Redemptions payable 33,444 83,436
Net unrealized loss on open forward contracts -- 2,211,068
----------- ------------
Total liabilities 221,774 2,528,165
----------- ------------
Commitments
Trust capital
Limited interests (297,002.240 and 320,147.380 interests
outstanding) 19,917,599 24,729,908
General interests (3,006.000 and 3,284.000 interests outstanding) 201,570 253,681
----------- ------------
Total trust capital 20,119,169 24,983,589
----------- ------------
Total liabilities and trust capital $20,340,943 $27,511,754
----------- ------------
----------- ------------
Net asset value per limited and general interest ('Interests') $ 67.06 $ 77.25
----------- ------------
----------- ------------
- ---------------------------------------------------------------------------------------------------
The accompanying notes are an integral part of these statements.
</TABLE>
2
<PAGE>
WORLD MONITOR TRUST--SERIES A
(a Delaware Business Trust)
STATEMENTS OF OPERATIONS
(Unaudited)
<TABLE>
<CAPTION>
For the period from For the period from
January 1, 2000 January 1, 1999
to to
March 31, 2000 March 26, 1999
<S> <C> <C>
- --------------------------------------------------------------------------------------------------------
REVENUES
Net realized loss on commodity transactions $(3,908,617) $ (399,898)
Change in net unrealized gain/loss on open commodity
positions 956,917 1,008,131
Interest income 341,919 144,206
------------------- -------------------
(2,609,781) 752,439
------------------- -------------------
EXPENSES
Commissions 438,825 225,007
Management fees 106,905 57,982
------------------- -------------------
545,730 282,989
------------------- -------------------
Net income (loss) $(3,155,511) $ 469,450
------------------- -------------------
------------------- -------------------
ALLOCATION OF NET INCOME (LOSS)
Limited interests $(3,123,692) $ 464,031
------------------- -------------------
------------------- -------------------
General interests $ (31,819) $ 5,419
------------------- -------------------
------------------- -------------------
NET INCOME (LOSS) PER WEIGHTED AVERAGE LIMITED AND GENERAL
INTEREST
Net income (loss) per weighted average limited and general
interest $ (10.11) $ 3.76
------------------- -------------------
------------------- -------------------
Weighted average number of limited and general interests
outstanding 311,991 124,757
------------------- -------------------
------------------- -------------------
- --------------------------------------------------------------------------------------------------------
</TABLE>
STATEMENT OF CHANGES IN TRUST CAPITAL
(Unaudited)
<TABLE>
<CAPTION>
LIMITED GENERAL
INTERESTS INTERESTS INTERESTS TOTAL
<S> <C> <C> <C> <C>
- -----------------------------------------------------------------------------------------------------
Trust capital--December 31, 1999 323,431.380 $24,729,908 $253,681 $24,983,589
Net loss -- (3,123,692) (31,819 ) (3,155,511)
Redemptions (23,423.140) (1,688,617) (20,292 ) (1,708,909)
------------ ----------- --------- -----------
Trust capital--March 31, 2000 300,008.240 $19,917,599 $201,570 $20,119,169
------------ ----------- --------- -----------
------------ ----------- --------- -----------
- -----------------------------------------------------------------------------------------------------
The accompanying notes are an integral part of these statements.
</TABLE>
3
<PAGE>
WORLD MONITOR TRUST--SERIES A
(a Delaware Business Trust)
NOTES TO FINANCIAL STATEMENTS
MARCH 31, 2000
(Unaudited)
A. General
These financial statements have been prepared without audit. In the opinion
of Prudential Securities Futures Management Inc. (the 'Managing Owner'), the
financial statements contain all adjustments (consisting of only normal
recurring adjustments) necessary to present fairly the financial position of
World Monitor Trust--Series A ('Series A') as of March 31, 2000 and the results
of its operations for the period from January 1, 2000 through March 31, 2000
(the 'First Quarter 2000') and January 1, 1999 to March 26, 1999 ('First Quarter
1999'). However, the operating results for the interim period may not be
indicative of the results expected for a full year.
Certain information and footnote disclosures normally included in annual
financial statements prepared in accordance with generally accepted accounting
principles have been omitted. It is suggested that these financial statements be
read in conjunction with the financial statements and notes thereto included in
Series A's Annual Report on Form 10-K filed with the Securities and Exchange
Commission for the year ended December 31, 1999 (the 'Annual Report').
Effective December 6, 1999, the Eagle-Global System became the exclusive
trading program used by Eagle Trading Systems, Inc. (the 'Trading Advisor') to
trade Series A's assets. In conjunction with this change, the Managing Owner and
the Trading Advisor voluntarily agreed to terminate their initial advisory
agreement (the 'Initial Advisory Agreement') and enter into a new advisory
agreement (the 'New Advisory Agreement') effective March 21, 2000.
Pursuant to the New Advisory Agreement, the Trading Advisor is paid a weekly
management fee at an annual rate of 1% of Series A's net asset value until the
net asset value per Interest is at least $80 for a period of 10 consecutive
business days, at which time the weekly management fee will be increased to an
annual rate of 2% (i.e. the rate pursuant to the Initial Advisory Agreement).
Additionally, although the term of the New Advisory Agreement commenced on March
21, 2000, the Trading Advisor must recoup all trading losses incurred under the
Initial Advisory Agreement before an incentive fee is paid. Furthermore, the New
Advisory Agreement resets the net asset value for purposes of its termination
provisions. The New Advisory Agreement may be terminated at the discretion of
the Managing Owner.
B. Related Parties
The Managing Owner of Series A is a wholly owned subsidiary of Prudential
Securities Incorporated ('PSI') which, in turn, is a wholly owned subsidiary of
Prudential Securities Group Inc. The Managing Owner or its affiliates perform
services for Series A which include but are not limited to: brokerage services;
accounting and financial management; registrar, transfer and assignment
functions; investor communications, printing and other administrative services.
Except for costs related to brokerage services, PSI or its affiliates pay the
costs of these services in addition to Series A's routine operational,
administrative, legal and auditing costs.
The costs charged to Series A for brokerage services for First Quarter 2000
and First Quarter 1999 were $439,000 and $225,000, respectively.
Series A's assets are maintained either in trading or cash accounts with PSI
or, for margin purposes, with the various exchanges on which Series A is
permitted to trade. PSI credits Series A monthly with 100% of the interest it
earns on the average net assets in Series A's accounts.
Series A, acting through its Trading Advisor, may execute over-the-counter,
spot, forward and/or option foreign exchange transactions with PSI. PSI then
engages in back-to-back trading with an affiliate, Prudential-Bache Global
Markets Inc. ('PBGM'). PBGM attempts to earn a profit on such transactions. PBGM
keeps its prices on foreign currency competitive with other interbank currency
trading desks. All over-the-counter currency transactions are conducted between
PSI and each Series pursuant to a line of credit. PSI may require that
collateral be posted against the marked-to-market position of Series A.
4
<PAGE>
As of March 31, 2000, a non-U.S. affiliate of the Managing Owner owns 101.112
limited interests of Series A. Additionally, a director of the Managing Owner
owns 249.687 limited interests of Series A.
C. Derivative Instruments and Associated Risks
Series A's investment activities expose it to various types of risk which are
associated with the derivative instruments and related markets in which it
invests. The following disclosure focuses primarily on Series A's risks due to
changes in the value of these derivative instruments (market risk) and the
inability of counterparties to perform under the terms of Series A's investment
activities (credit risk), and is not intended to be a comprehensive summary of
all risks.
Market risk
Trading in futures and forward (including foreign exchange transactions)
contracts involves entering into contractual commitments to purchase or sell a
particular commodity at a specified date and price. The gross or face amount of
the contracts, which is typically many times that of Series A's net assets being
traded, significantly exceeds Series A's future cash requirements since Series A
intends to close out its open positions prior to settlement. As a result, Series
A is generally subject only to the risk of loss arising from the change in the
value of the contracts. As such, Series A considers the 'fair value' of its
derivative instruments to be the net unrealized gain or loss on the contracts.
The market risk associated with Series A's commitments to purchase commodities
is limited to the gross or face amount of the contract held. However, when
Series A enters into a contractual commitment to sell commodities, it must make
delivery of the underlying commodity at the contract price and then repurchase
the contract at prevailing market prices. Since the repurchase price to which a
commodity can rise is unlimited, entering into commitments to sell commodities
exposes Series A to unlimited risk.
Market risk is influenced by a wide variety of factors including government
programs and policies, political and economic events, the level and volatility
of interest rates, foreign currency exchange rates, the diversification effects
among the derivative instruments Series A holds and the liquidity and inherent
volatility of the markets in which Series A trades.
Credit risk
In addition to market risk, when entering into futures or forward contracts
there is a credit risk that the counterparty to the contract will not be able to
meet its obligations to Series A. The counterparty for futures contracts traded
in the United States and on most foreign futures exchanges is the clearinghouse
associated with such exchanges. In general, clearinghouses are backed by the
corporate members of the clearinghouse who are required to share any financial
burden resulting from the non-performance by one of its members and, as such,
should significantly reduce this credit risk. In cases where the clearinghouse
is not backed by the clearing members (i.e., some foreign exchanges), it is
normally backed by a consortium of banks or other financial institutions. On the
other hand, the sole counterparty to Series A's forward transactions is PSI,
Series A's commodity broker. Series A has entered into a master netting
agreement with PSI and, as a result, presents unrealized gains and losses on
open forward positions as a net amount in the statements of financial condition.
The amount at risk associated with counterparty non-performance of all of Series
A's contracts is the net unrealized gain included in the statements of financial
condition. There can be no assurance that any counterparty, clearing member or
clearinghouse will be able to meet its obligations to Series A.
The Managing Owner attempts to minimize both credit and market risks by
requiring Series A and its Trading Advisor to abide by various trading
limitations and policies. The Managing Owner monitors compliance with these
trading limitations and policies which include, but are not limited to,
executing and clearing all trades with creditworthy counterparties (currently,
PSI is the sole counterparty or broker); limiting the amount of margin or
premium required for any one commodity or all commodities combined; and
generally limiting transactions to contracts which are traded in sufficient
volume to permit the taking and liquidating of positions. Additionally, pursuant
to the New Advisory Agreement among Series A, the Managing Owner and the Trading
Advisor, Series A shall automatically terminate the Trading Advisor if the net
asset value allocated to the Trading Advisor declines by 33 1/3% from the value
at the beginning of any year or since the commencement of trading activities.
Furthermore, the Second Amended and restated Declaration of Trust and Trust
Agreement provides that Series A will liquidate its positions, and eventually
dissolve, if Series A experiences a decline in net asset value of 50% from the
value at the beginning of any year or since the commencement of trading
activities. In each case, the decline in net asset value is after giving effect
for
5
<PAGE>
distributions, contributions and redemptions. The Managing Owner may impose
additional restrictions (through modifications of such trading limitations and
policies) upon the trading activities of the Trading Advisor as it, in good
faith, deems to be in the best interests of Series A.
PSI, when acting as Series A's futures commission merchant in accepting
orders for the purchase or sale of domestic futures contracts, is required by
Commodity Futures Trading Commission ('CFTC') regulations to separately account
for and segregate as belonging to Series A all assets of Series A relating to
domestic futures trading and is not to commingle such assets with other assets
of PSI. At March 31, 2000, such segregated assets totalled $19,407,819. Part
30.7 of the CFTC regulations also requires PSI to secure assets of Series A
related to foreign futures trading which totalled $930,339 at March 31, 2000.
There are no segregation requirements for assets related to forward trading.
As of March 31, 2000, Series A's open futures and forward contracts mature
within six months.
At March 31, 2000 and December 31, 1999, the fair values of open futures and
forward contracts were:
<TABLE>
<CAPTION>
2000 1999
------------------------ --------------------------
Assets Liabilities Assets Liabilities
-------- ----------- ---------- -----------
<S> <C> <C> <C> <C>
Futures Contracts:
Domestic exchanges
Interest rates $ 80,262 $ -- $ 255,937 $ --
Stock indices -- -- 160,500 --
Currencies 8,562 689,937 -- --
Commodities 191,063 -- 1,963 49,265
Foreign exchanges
Interest rates 2,661 36,296 25,510 32,558
Stock indices -- 6,198 425,095 --
Commodities 238,325 118,255 137,156 --
Forward Contracts:
Currencies -- -- 88,948 2,300,016
-------- ----------- ---------- -----------
$520,873 $ 850,686 $1,095,109 $ 2,381,839
-------- ----------- ---------- -----------
-------- ----------- ---------- -----------
</TABLE>
6
<PAGE>
WORLD MONITOR TRUST--SERIES A
(a Delaware Business Trust)
ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL
CONDITION AND RESULTS OF OPERATIONS
Liquidity and Capital Resources
Series A commenced operations on June 10, 1998 with gross proceeds of
$6,039,177 allocated to commodities trading. Interests in Series A continued to
be offered weekly until Series A achieved its subscription maximum of
$34,000,000 during November 1999.
Interests in Series A may be redeemed on a weekly basis, but are subject to a
redemption fee if transacted within one year of the effective date of purchase.
Redemptions of limited interests and general interests for the three months
ended March 31, 2000 were $1,688,617 and $20,292, respectively. Redemption of
limited interests and general interests from June 10, 1998 (commencement of
operations) through March 31, 2000 were $5,605,954 and $37,699, respectively.
Additionally, Interests owned in one Series may be exchanged, without any
charge, for Interests of one or more other Series on a weekly basis for as long
as Interests in those Series are being offered to the public. Since Interests in
Series A are no longer being offered, participants can no longer exchange their
Interests from Series B and/or Series C into Series A; however, participants can
currently continue to exchange their Interests from Series A to Series B and/or
Series C. Future redemptions and exchanges will impact the amount of funds
available for investment in commodity contracts in subsequent periods.
At March 31, 2000, 100% of Series A's net assets were allocated to
commodities trading. A significant portion of the net assets was held in cash
which is used as margin for Series A's trading in commodities. Inasmuch as the
sole business of Series A is to trade in commodities, Series A continues to own
such liquid assets to be used as margin. PSI credits Series A monthly with 100%
of the interest it earns on the average net assets in Series A's accounts.
The commodities contracts are subject to periods of illiquidity because of
market conditions, regulatory considerations and other reasons. For example,
commodity exchanges limit fluctuations in certain commodity futures contract
prices during a single day by regulations referred to as 'daily limits.' During
a single day, no trades may be executed at prices beyond the daily limit. Once
the price of a futures contract for a particular commodity has increased or
decreased by an amount equal to the daily limit, positions in the commodity can
neither be taken nor liquidated unless traders are willing to effect trades at
or within the limit. Commodity futures prices have occasionally moved the daily
limit for several consecutive days with little or no trading. Such market
conditions could prevent Series A from promptly liquidating its commodity
futures positions.
Since Series A's business is to trade futures and forward contracts, its
capital is at risk due to changes in the value of these contracts (market risk)
or the inability of counterparties to perform under the terms of the contract
(credit risk). Series A's exposure to market risk is influenced by a number of
factors including the volatility of interest rates and foreign currency exchange
rates, the liquidity of the markets in which the contracts are traded and the
relationship among the contracts held. The inherent uncertainty of Series A's
speculative trading as well as the development of drastic market occurrences
could result in monthly losses considerably beyond Series A's experience to date
and could ultimately lead to a loss of all or substantially all of investors'
capital. The Managing Owner attempts to minimize these risks by requiring Series
A and its Trading Advisor to abide by various trading limitations and policies
which include limiting margin amounts trading only in liquid markets and
utilizing stop loss provisions. See Note C to the financial statements for a
further discussion on the credit and market risks associated with Series A's
futures and forward contracts.
Series A does not have, nor does it expect to have, any capital assets.
Results of Operations
The net asset value per Interest as of March 31, 2000 was $67.06, a decrease
of 13.19% from the December 31, 1999 net asset value per Interest of $77.25.
Series A's gross trading gains/(losses) were ($2,951,700) during the three
months ended March 31, 2000 compared to $608,233 for the corresponding period in
the prior year. Due to the nature of Series A's trading
7
<PAGE>
activities, a period to period comparison of its trading results is not
meaningful. However, a detailed discussion of Series A's current quarter trading
results is presented below.
Quarterly Market Overview
While the Y2K scare passed without incident, the new year brought renewed
volatility to the world's financial markets. As stock indexes reached new highs,
stock valuations appeared driven more by investor interest than each company's
fundamental earnings. March marked a reversal of the differences between 'old'
economy and 'new' economy stocks as the technology laden indexes slumped and
many traditional indexes recovered lost ground.
The U.S. Federal Reserve, European Central Bank, Bank of England, Reserve
Bank of Australia, and Bank of Canada increased interest rates in early
February. The rate increases shared motivation of strong economic growth and
concerns about inflation. Despite rate hikes and news of robust worldwide
economic growth, global bond markets continued to rally partially due to
investors seeking refuge from volatile equity markets.
In the currency markets, the U.S. dollar advanced sharply in early 2000. The
dollar's advance had been driven by strong growth and soaring asset prices,
resulting in record levels of foreign capital coming into the United States.
Since its inception a year ago, the euro has declined more than 17% against the
U.S. dollar, 21% against the Japanese yen and 11% against the British pound. The
euro touched an all time low at .9500 against the U.S. dollar in March. The
currency's weakness has raised political problems for the European Central Bank
and contributed to the recent decision to hike interest rates without any clear
inflation threat. The Swiss franc had spent most of the last few months drifting
lower against the U.S. dollar, tracking the euro's trend. The Japanese yen
rallied sharply, gaining on the U.S. dollar and most other currencies in the
final months of Japan's fiscal year (which ended March 31st). This is attributed
to positive sentiment regarding Japan's economic recovery. Additionally,
uncertainty regarding the direction of U.S. equities prompted many market
participants to convert assets into yen.
Energy prices continued their climb throughout January and February and into
the first week of March. Crude oil futures prices rose above $33 a barrel, the
highest level for a front-month (the most liquid) contract since the Gulf War in
1991. The energy sector reached a high early in March just prior to OPEC's
agreement to increase production sufficiently to stabilize prices. Political
pressure by the United States, along with a desire among OPEC members to
maintain a crude oil price in the range of $22-$28 per barrel, prompted the
cartel to announce a production increase. The May contract closed below $27 a
barrel at quarter-end.
Quarterly Performance of Series A
The following is a summary of performance for the major sectors in which
Series A traded:
Currencies (-): The Japanese yen gained on the U.S. dollar and most other
currencies during the first quarter. Short yen positions resulted in losses.
Stock Indices (-): Extreme volatility in the world's financial markets led to
a lack of trending opportunities resulting in losses for London FTSE, S&P 500,
and Japanese Nikkei stock index positions.
Metals (+): Short aluminum positions resulted in gains for Series A.
Energies (+): The energy markets significantly contributed to quarterly
performance. Crude oil's steady price rise reversed in March after OPEC agreed
to increase production. Short positions in heating and light crude oil produced
gains.
Series A's average net asset levels during First Quarter 2000 have increased
from First Quarter 1999, primarily due to additional contributions received
during 1999, partially offset by poor trading performance during 1999 and First
Quarter 2000 on Series A's weekly net asset value. The rising asset levels have
led to proportionate increases in the amount of interest earned by Series A as
well as commissions and management fees incurred.
Interest income is earned on the average net assets held at PSI and,
therefore, varies monthly according to interest rates, trading performance,
contributions and redemptions. Interest income increased $198,000 during First
Quarter 2000 as compared to First Quarter 1999 due to the increase in net assets
as discussed above as well as higher interest rates during First Quarter 2000 as
compared to First Quarter 1999.
8
<PAGE>
Commissions are calculated on Series A's net asset value at the end of each
week and therefore, vary according to weekly trading performance, contributions
and redemptions. Commissions increased $214,000 during First Quarter 2000 as
compared to First Quarter 1999 due to the increase in net assets as discussed
above.
Effective December 6, 1999, the Eagle-Global System became the exclusive
trading program used by the Trading Advisor to trade Series A's assets. In
conjunction with this change, the Managing Owner and the Trading Advisor
voluntarily agreed to terminate the Initial Advisory Agreement and enter into a
New Advisory Agreement effective March 21, 2000 as more fully discussed in Note
A to the financial statements.
All trading decisions for Series A are made by the Trading Advisor.
Management fees are calculated on Series A's net asset value at the end of each
week and therefore, are affected by weekly trading performance, contributions
and redemptions. Management fees increased $49,000 during First Quarter 2000 as
compared to First Quarter 1999 primarily due to the increase in net assets as
discussed above.
Incentive fees are based on the New High Net Trading Profits generated by the
Trading Advisor, as defined in the Advisory Agreement among the Trust, the
Managing Owner and the Trading Advisor. No incentive fees were generated during
the periods ending March 31, 2000 or 1999.
Year 2000 Risk
A discussion of Year 2000 and its effect on the operations of Series A is
included in Series A's Annual Report.
ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK
Item 305(c) of Regulation S-K requires disclosure during each interim
reporting period of material changes in the quantitative and qualitative market
risk information provided as of the end of the immediately preceding year. The
following information should be read in conjunction with Series A's Form 10-K as
filed with the Securities and Exchange Commission for the year ended December
31, 1999.
The total Value at Risk associated with Series A's open positions as of March
31, 2000 and for the three months then ended did not change materially as
compared to December 31, 1999; however, there were material fluctuations in the
Currencies and Stock Indices market sectors.
The Currencies sector Value at Risk, made up of only the exchange rate risk
on its foreign margin balances as of December 31, 1999, consisted of $609,599
(3.03% of total capitalization) as of March 31, 2000 with an average of $368,236
(1.62% of average capitalization) during the three months then ended. The
quarterly exposure was associated with Series A's British pounds and Japanese
yen contracts.
The Stock Indices sector Value at Risk decreased from $490,048 (1.96% of
total capitalization) at December 31, 1999 to $5,729 (.03% of total
capitalization) at March 31, 2000 with an average of $257,951 (1.13% of average
capitalization) during the three months then ended. The decrease was mainly due
to a reduced number of LFE FTSE 100 Index contracts as well as the closeout of
positions in the S&P 500 Index and EUR DAX Index during the first quarter of
2000.
9
<PAGE>
PART II. OTHER INFORMATION
Item 1. Legal Proceedings--There are no material legal proceedings pending by or
against the Registrant or the Managing Owner.
Item 2. Changes in Securities--None
Item 3. Defaults Upon Senior Securities--None
Item 4. Submission of Matters to a Vote of Security Holders--None
Item 5. Other Information--None
Item 6. (a) Exhibits--
3.1
and
4.1-- Second Amended and Restated Declaration of Trust and Trust Agreements of
World Monitor Trust dated as of March 17, 1998 (incorporated by reference
to Exhibits 3.1 and 4.1 to Series A's Registration Statement on Form S-1,
File No. 333-43033)
4.2-- Form of Request for Redemption (incorporated by reference to Exhibit 4.2
to Series A's Registration Statement on Form S-1, File No. 333-43033)
4.3-- Form of Exchange Request (incorporated by reference to Exhibit 4.3 to
Series A's Registration Statement on Form S-1, File No. 333-43033)
4.4-- Form of Subscription Agreement (incorporated by reference to Exhibit 4.4
to Series A's Registration Statement on Form S-1, File No. 333-43033)
27.1--Financial Data Schedule (filed herewith)
(b) Reports on Form 8-K--None
10
<PAGE>
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
WORLD MONITOR TRUST--SERIES A
By: Prudential Securities Futures Management Inc.
A Delaware corporation, Managing Owner
By: /s/ Steven Carlino Date: May 12, 2000
----------------------------------------
Steven Carlino
Vice President and Treasurer
11
<TABLE> <S> <C>
<PAGE>
<ARTICLE> 5
<LEGEND>
The Schedule contains summary financial
information extracted from the financial
statements for World Monitor Trust-Series A
and is qualified in its entirety by reference
to such financial statements
</LEGEND>
<RESTATED>
<CIK> 1051822
<NAME> World Monitor Trust-Series A
<MULTIPLIER> 1
<FISCAL-YEAR-END> Dec-31-2000
<PERIOD-START> Jan-1-2000
<PERIOD-END> Mar-31-2000
<PERIOD-TYPE> 3-Mos
<CASH> 20,667,971
<SECURITIES> (329,813)
<RECEIVABLES> 2,785
<ALLOWANCES> 0
<INVENTORY> 0
<CURRENT-ASSETS> 20,340,943
<PP&E> 0
<DEPRECIATION> 0
<TOTAL-ASSETS> 20,340,943
<CURRENT-LIABILITIES> 221,774
<BONDS> 0
0
0
<COMMON> 0
<OTHER-SE> 20,119,169
<TOTAL-LIABILITY-AND-EQUITY> 20,340,943
<SALES> 0
<TOTAL-REVENUES> (2,609,781)
<CGS> 0
<TOTAL-COSTS> 545,730
<OTHER-EXPENSES> 0
<LOSS-PROVISION> 0
<INTEREST-EXPENSE> 0
<INCOME-PRETAX> 0
<INCOME-TAX> 0
<INCOME-CONTINUING> 0
<DISCONTINUED> 0
<EXTRAORDINARY> 0
<CHANGES> 0
<NET-INCOME> (3,155,511)
<EPS-BASIC> (10.11)
<EPS-DILUTED> 0
</TABLE>
