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WORLD MONITOR TRUST--
SERIES B
MONTHLY REPORT/
JUNE 26, 1998
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WORLD MONITOR TRUST--SERIES B
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Dear Limited Partner:
We are pleased to welcome you as an investor in World Monitor Trust--Series B
(the 'Trust') which commenced trading on June 10, 1998. As an investor in the
Trust, you will receive a Monthly Report containing financial information
monthly and market commentary quarterly.
Enclosed is the Trust's report for the period from June 10, 1998 to June 26,
1998. The net asset value of an interest as of June 26, 1998 was $98.77, a
decrease of 1.23% from the Trust's initial $100 value.
The Trust's June trading resulted in losses. Unprofitable sectors included the
financial, energy, index and metal sectors. Partially offsetting losses were
gains generated in the currency sector.
Strong trends in many of the major markets contributed to gains in the first
half of the month. However, U.S. intervention in the foreign exchange markets on
June 17th created a dramatic reversal across global financial and commodity
markets. The volatile 'yen effect' carried over into markets usually not highly
correlated such as a number of currencies, interest rate instruments, stock
indices, metals and energy products.
The Trust held profitable positions in several different market sectors prior to
the intervention. At month-end, only the currency sector was able to retain
gains of any significance, with most of those coming from various Japanese yen
crossrate positions. Small losses from long deutsche mark exposure were the
result of a moderate flight to quality due to concern about European exposure to
Russia. Losses in the financial sector stemmed primarily from the sudden decline
in Australian bond prices caused by weakness in the Australian dollar.
Meanwhile, in the energy sector, the announcement of an OPEC-led oil production
cut produced a rally in oil prices, leading the Trust to exit short positions
with losses.
Slightly offsetting losses, the Trust generated profits in the currency sector,
particularly in Japanese yen and Swiss franc positions as well as Swiss
franc/British pound crossrate positions.
The estimated net asset value per interest as of July 20, 1998 was $94.43. Past
performance is not necessarily indicative of future results.
Should you have any questions, please contact your Prudential Securities
Financial Advisor. For account status inquiries, contact Prudential Securities
Client Services at 1-800-535-2077.
Sincerely yours,
Thomas M. Lane, Jr.
President and Director
PRUDENTIAL SECURITIES
FUTURES MANAGEMENT INC.
Please note that the value which appears on your Prudential Securities statement
is an estimated value at calendar month-end. The actual value as of the last
Friday of the month is contained in this report.
<TABLE>
<CAPTION>
STATEMENT OF OPERATIONS
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For the period from June 10, 1998 (inception of
trading) to June 26, 1998
<S> <C>
Revenues:
Realized loss on commodity
transactions............................. $(102,775)
Change in unrealized commodity
positions................................ 51,239
Interest income............................ 14,961
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(36,575)
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Expenses:
Commissions................................ 21,051
Management fee............................. 5,432
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26,483
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Net loss................................... $ (63,058)
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</TABLE>
<TABLE>
<CAPTION>
STATEMENT OF CHANGES IN NET ASSET VALUE
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For the period from June 10, 1998 (inception of trading)
to June 26, 1998
Per
Total Interest
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<S> <C> <C>
Initial contributions (10
interests)...................... $ 1,000 $100.00
Additional contributions.......... 6,173,789
Net loss.......................... (63,058)
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Net asset value at end of
month (61,881.053 interests).... $6,111,731 98.77
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----------
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Change in net asset
value per interest.......................... $ (1.23)
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Percentage change............................. (1.23)%
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-------
</TABLE>
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I hereby affirm that, to the best of my knowledge and belief, the information
contained herein relating to World Monitor Trust--Series B is accurate and
complete.
PRUDENTIAL SECURITIES FUTURES
MANAGEMENT INC.
by: Barbara J. Brooks
Treasurer
