<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 September 29, 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: 0-25789
WORLD MONITOR TRUST--SERIES C
--------------------------------------------------------------------------------
(Exact name of Registrant as specified in its charter)
Delaware 13-3985042
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(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
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(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 C
(a Delaware Business Trust)
STATEMENTS OF FINANCIAL CONDITION
(Unaudited)
<TABLE>
<CAPTION>
September 29, December 31,
2000 1999
<S> <C> <C>
----------------------------------------------------------------------------------------------------
ASSETS
Cash $ 7,823,761 $17,735,229
Net unrealized gain on open futures contracts -- 926,878
Net unrealized gain on open forward contracts -- 21,916
Accrued interest receivable 1,283 --
------------- ------------
Total assets $ 7,825,044 $18,684,023
------------- ------------
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LIABILITIES AND TRUST CAPITAL
Liabilities
Redemptions payable $ 133,729 $ 52,286
Commissions payable -- 127,800
Management fees payable -- 35,938
Incentive fees payable -- 100
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Total liabilities 133,729 216,124
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Commitments
Trust capital
Limited interests (111,338.333 and 189,911.407 interests
outstanding) 7,589,072 18,227,946
General interests (1,500 and 2,500 interests outstanding) 102,243 239,953
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Total trust capital 7,691,315 18,467,899
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Total liabilities and trust capital $ 7,825,044 $18,684,023
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------------- ------------
Net asset value per limited and general interests ('Interests') $ 68.16 $ 95.98
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----------------------------------------------------------------------------------------------------
The accompanying notes are an integral part of these statements.
</TABLE>
2
<PAGE>
WORLD MONITOR TRUST--SERIES C
(a Delaware Business Trust)
STATEMENTS OF OPERATIONS
(Unaudited)
<TABLE>
<CAPTION>
For the For the For the For the
period from period from period from period from
January 1, January 1, July 1, June 26,
2000 to 1999 to 2000 to 1999 to
September 29, 2000 September 24, 1999 September 29, 2000 September 24, 1999
<S> <C> <C> <C> <C>
---------------------------------------------------------------------------------------------------------------
REVENUES
Net realized gain (loss) on
commodity transactions $ (4,253,779) $ 820,059 $(12,928) $ (784,184)
Change in net unrealized
gain/loss on open
commodity positions (948,794) 290,976 12,928 523,184
Interest income 585,510 554,089 148,431 223,020
------------------ ------------------ ------------------ ------------------
(4,617,063) 1,665,124 148,431 (37,980)
------------------ ------------------ ------------------ ------------------
EXPENSES
Commissions 497,555 889,358 -- 343,243
Management fees 128,198 230,071 -- 88,851
Incentive fees -- 143,659 -- 1,791
------------------ ------------------ ------------------ ------------------
625,753 1,263,088 -- 433,885
------------------ ------------------ ------------------ ------------------
Net income (loss) $ (5,242,816) $ 402,036 $148,431 $ (471,865)
------------------ ------------------ ------------------ ------------------
------------------ ------------------ ------------------ ------------------
ALLOCATION OF NET INCOME
(LOSS)
Limited interests $ (5,172,229) $ 399,852 $146,633 $ (463,878)
------------------ ------------------ ------------------ ------------------
------------------ ------------------ ------------------ ------------------
General interests $ (70,587) $ 2,184 $ 1,798 $ (7,987)
------------------ ------------------ ------------------ ------------------
------------------ ------------------ ------------------ ------------------
NET INCOME (LOSS) PER
WEIGHTED AVERAGE LIMITED
AND GENERAL INTEREST
Net income (loss) per
weighted average limited
and general interest $ (31.54) $ 2.80 $ 1.11 $ (2.92)
------------------ ------------------ ------------------ ------------------
------------------ ------------------ ------------------ ------------------
Weighted average number of
limited and general
interests outstanding 166,204 143,809 133,777 161,551
------------------ ------------------ ------------------ ------------------
------------------ ------------------ ------------------ ------------------
---------------------------------------------------------------------------------------------------------------
</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 192,411.407 $18,227,946 $239,953 $18,467,899
Contributions 9,814.185 823,882 -- 823,882
Net loss (5,172,229) (70,587 ) (5,242,816)
Redemptions (89,387.259) (6,290,527) (67,123 ) (6,357,650)
----------- ----------- --------- -----------
Trust capital--September 29, 2000 112,838.333 $ 7,589,072 $102,243 $ 7,691,315
----------- ----------- --------- -----------
----------- ----------- --------- -----------
-----------------------------------------------------------------------------------------------------
The accompanying notes are an integral part of these statements.
</TABLE>
3
<PAGE>
WORLD MONITOR TRUST--SERIES C
(a Delaware Business Trust)
NOTES TO FINANCIAL STATEMENTS
SEPTEMBER 29, 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 C ('Series C') as of September 29, 2000 and the
results of its operations for the periods from January 1, 2000 to September 29,
2000 ('Year-To-Date 2000'), January 1, 1999 to September 24, 1999 ('Year-To-Date
1999'), July 1, 2000 to September 29, 2000 ('Third Quarter 2000') and June 26,
1999 to September 24, 1999 ('Third Quarter 1999'). However, the operating
results for the interim periods 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 C's annual report on Form 10-K filed with the Securities and Exchange
Commission for the year ended December 31, 1999.
As of June 7, 2000, Hyman Beck & Company, Inc. ('Hyman Beck') ceased to serve
as a trading advisor to Series C. The Advisory Agreement among Series C, the
Managing Owner and Hyman Beck was automatically terminated when the assets
allocated to Hyman Beck declined by greater than 33 1/3% from their initial
allocation on June 10, 1998. At September 29, 2000, Series C's assets were not
allocated to commodities trading and, as such, have not been subject to
management fees or commissions since June 7, 2000. On November 13,
2000, the Managing Owner reallocated Series C's assets, which were
previously traded by Hyman Beck, to Northfield Trading L.P. ('Northfield'), an
independent commodities trading advisor. The monthly management fee to be paid
to Northfield equals 0.0385% of Series C's allocated assets determined as of the
close of business each Friday (an annual rate of 2%), the same fee previously
paid to Hyman Beck. The quarterly incentive fee to be paid to Northfield equals
20% of the New High Net Trading Profits as defined in the Advisory Agreement
among Series C, the Managing Owner and Northfield as compared to 23% paid to
Hyman Beck. Additionally, Northfield must recoup the cumulative trading losses
of Hyman Beck before it is paid an incentive fee.
New Accounting Guidance
In June 2000, the Financial Accounting Standards Board ('FASB') issued
Statement No. 138, Accounting for Certain Derivative Instruments and Certain
Hedging Activities--an amendment of FASB Statement No. 133 ('SFAS 138'), which
became effective for Series C on July 1, 2000. SFAS 138 amends the accounting
and reporting standards of FASB Statement No. 133 for certain derivative
instruments and certain hedging activities. SFAS 138 has not had a material
effect on the carrying value of assets and liabilities within the financial
statements.
B. Related Parties
The Managing Owner of Series C 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 C 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 costs of offering Series C's Interests as
well as its routine operational, administrative, legal and auditing costs.
The costs charged to Series C for brokerage services for Year-To-Date 2000,
Year-To-Date 1999, and Third Quarter 1999 were $497,555, $889,358 and $343,243,
respectively. There were no costs charged to Series C for brokerage services for
Third Quarter 2000.
4
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All of the proceeds of the offering of Series C are received in the name of
Series C and deposited in trading or cash accounts at PSI, Series C's commodity
broker. Series C's assets are maintained either with PSI or, for margin
purposes, with the various exchanges on which Series C is permitted to trade.
PSI credits Series C monthly with 100% of the interest it earns on the average
net assets in Series C's accounts.
Series C, acting through its trading advisor, executes 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 Series C pursuant to a line of credit. PSI may require that collateral
be posted against the marked-to-market positions of Series C.
As of September 29, 2000, a non-U.S. affiliate of the Managing Owner owns
230.304 limited interests of Series C. Additionally, a director of the Managing
Owner owns 108.189 limited interests of Series C.
C. Derivative Instruments and Associated Risks
Series C is exposed to various types of risks associated with the derivative
instruments and related markets in which it invests. These risks include, but
are not limited to, risk of loss from fluctuations in the value of derivative
instruments held (market risk) and the inability of counterparties to perform
under the terms of Series C's investment activities (credit risk).
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 C's net assets being
traded, significantly exceeds Series C's future cash requirements since Series C
intends to close out its open positions prior to settlement. As a result, Series
C is generally subject only to the risk of loss arising from the change in the
value of the contracts. As such, Series C 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 C's commitments to purchase commodities
is limited to the gross or face amount of the contracts held. However, when
Series C 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 C 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 C holds and the liquidity and inherent
volatility of the markets in which Series C trades.
Credit risk
When entering into futures or forward contracts, Series C is exposed to
credit risk that the counterparty to the contract will not meet its obligations.
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 C's forward transactions is PSI, Series C's commodity broker. Series C
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 C'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 meet
its obligations to Series C.
The Managing Owner attempts to minimize both credit and market risks by
requiring Series C 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
5
<PAGE>
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, the Advisory Agreements among Series C, the Managing Owner and
each trading advisor provide that Series C shall automatically terminate a
trading advisor if the net asset value allocated to that trading advisor
declined by 33 1/3% from the value at the beginning of any year or since the
commencement of trading activities. (See Note A for a discussion of the
termination of Hyman Beck as a trading advisor to Series C.) Furthermore, the
Second Amended and Restated Declaration of Trust and Trust Agreement provides
that Series C will liquidate its positions, and eventually dissolve, if Series C
experiences a decline in the 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 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 C.
PSI, when acting as Series C'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 C all assets of Series C relating to
domestic futures trading and is not to commingle such assets with other assets
of PSI. Part 30.7 of the CFTC regulations also requires PSI to secure assets of
Series C related to foreign futures trading. There are no segregation
requirements for assets related to forward trading.
The following table presents the fair value of futures and forward contracts
at December 31, 1999:
<TABLE>
<CAPTION>
Assets Liabilities
---------- -----------
<S> <C> <C>
Futures Contracts:
Domestic exchanges
Interest rates $ 130,618 $ --
Stock indices 74,920 48,180
Currencies 442,034 124,200
Commodities 251,343 66,057
Foreign exchanges
Interest rates 125,892 17,912
Stock indices 179,998 235,856
Commodities 359,687 145,409
Forward Contracts:
Currencies 30,613 8,697
---------- -----------
$1,595,105 $ 646,311
---------- -----------
---------- -----------
</TABLE>
6
<PAGE>
WORLD MONITOR TRUST--SERIES C
(a Delaware Business Trust)
ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL
CONDITION AND RESULTS OF OPERATIONS
Liquidity and Capital Resources
Series C commenced operations on June 10, 1998 with gross proceeds of
$5,706,177 allocated to commodities trading. Additional contributions raised
through the continuous offering for the period from June 10, 1998 (commencement
of operations) to September 29, 2000 resulted in additional gross proceeds to
Series C of $17,700,989. Additional Interests of Series C will continue to be
offered on a weekly basis at the net asset value per Interest until the
subscription maximum of $33,000,000 is sold.
Interests in Series C 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 for Year-To-Date 2000 and Third Quarter 2000
were $6,290,527 and $3,234,998, respectively. Redemptions of limited interests
for the period from June 10, 1998 (commencement of operations) to September 29,
2000 were $9,191,651. Redemptions of general interests for Year-To-Date 2000 and
Third Quarter 2000 were $67,123 and $20,202, respectively. The first redemption
of general interests took place during 2000. 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. World Monitor Trust--Series A is no longer offered
to the public as it achieved its subscription maximum during November 1999.
Future contributions, redemptions and exchanges will impact the amount of funds
available for investment in commodity contracts in subsequent periods.
Throughout Year-To-Date 2000, a significant portion of Series C's net assets
was held in cash which was used as margin for Series C's trading in commodities.
Inasmuch as the sole business of Series C is to trade in commodities, Series C
will continue to own such liquid assets to be used as margin. PSI credits Series
C monthly with 100% of the interest it earns on the average net assets in Series
C'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 C from promptly liquidating its commodity
futures positions.
Since Series C's business is to trade futures, forward and options 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
contracts (credit risk). Series C'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 relationships among the contracts held. The inherent uncertainty
of Series C's speculative trading as well as the development of drastic market
occurrences could result in monthly losses considerably beyond Series C'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 C 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 C's futures and forward contracts.
Series C does not have, nor does it expect to have, any capital assets.
Results of Operations
The net asset value per Interest as of September 29, 2000 was $68.16, a
decrease of 28.99% from the December 31, 1999 net asset value per Interest of
$95.98 and an increase of 1.69% from the June 30, 2000 net asset value per
Interest of $67.03.
7
<PAGE>
Series C's gross trading gains/(losses) were ($5,203,000), $1,111,000 and
($261,000) during Year-To-Date 2000, Year-To-Date 1999 and Third Quarter 1999,
respectively. As further discussed below, Series C's assets were not allocated
to commodities trading during Third Quarter 2000 as a result of the termination
of Hyman Beck. Therefore, there were no gross trading gains/(losses) for Third
Quarter 2000. Due to the nature of Series C's trading activities, a period to
period comparison of its trading results is not meaningful.
As of June 7, 2000, Hyman Beck, ceased to serve as a trading advisor to
Series C. The Advisory Agreement among Series C, the Managing Owner and Hyman
Beck was automatically terminated when the assets allocated to Hyman Beck
declined by greater than 33 1/3% from their initial allocation on June 10, 1998.
At September 29, 2000, Series C's assets were not allocated to commodities
trading and, as such, have not been subject to management fees or commissions
since June 7, 2000. On November 13, 2000, the Managing Owner
reallocated Series C's assets, which were previously traded by Hyman Beck, to
Northfield, an independent commodities trading advisor. The monthly management
fee to be paid to Northfield equal 0.0385% of Series C's allocated assets
determined as of the close of business each Friday (an annual rate of 2%), the
same fee previously paid to Hyman Beck. The quarterly incentive fee to be paid
to Northfield equals 20% of the New High Net Trading Profits as defined in the
Advisory Agreement among Series C, the Managing Owner and Northfield as compared
to 23% paid to Hyman Beck. Additionally, Northfield must recoup the cumulative
trading losses of Hyman Beck before it is paid an incentive fee.
Series C's average net asset levels during Year-To-Date 2000 and Third
Quarter 2000 have decreased from Year-To-Date 1999 and Third Quarter 1999
primarily due to redemptions during 1999 and 2000 and unfavorable trading
performance during the second half of 1999 and the first half of 2000 offset, in
part, by additional contributions during 1999 and Year-To-Date 2000.
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 $31,000 during
Year-To-Date 2000 as compared to Year-To-Date 1999 due to higher interest rates
during 2000 offset, in part, by the overall decrease in net assets during 2000
versus 1999 as discussed above. Interest income decreased $75,000 during Third
Quarter 2000 as compared to Third Quarter 1999 due to the overall decrease in
net assets during 2000, particularly during Third Quarter 2000, versus 1999 as
discussed above offset, in part, by higher interest rates during 2000.
Commissions were calculated on Series C's net asset value at the end of each
week and, therefore, vary according to weekly trading performance, contributions
and redemptions. Commissions decreased $392,000 and $343,000 during Year-To-Date
2000 and Third Quarter 2000, respectively, as compared to Year-To-Date 1999 and
Third Quarter 1999, due to the decrease in average net assets as well as the
postponement of commissions charged to Series C by PSI on the net assets
unallocated to commodities trading as discussed above.
Until June 7, 2000 all trading decisions for Series C were made by Hyman
Beck. Management fees were calculated on Series C's net asset value at the end
of each week and, therefore, were affected by weekly trading performance,
contributions and redemptions. Management fees decreased $102,000 and $89,000
during Year-To-Date 2000 and Third Quarter 2000, respectively, as compared to
Year-To-Date 1999 and Third Quarter 1999, due to the decrease in average net
assets as well as the termination of Hyman Beck as the trading advisor of Series
C as discussed above.
Incentive fees were based on the New High Net Trading Profits generated by
Hyman Beck, as defined in the Advisory Agreement among Series C, the Managing
Owner and Hyman Beck. Incentive fees were $144,000 and $2,000 for Year-To-Date
1999 and Third Quarter 1999, respectively. No incentive fees were generated
during Year-To-Date 2000.
New Accounting Guidance
In June 2000, the Financial Accounting Standards Board ('FASB') issued
Statement No. 138, Accounting for Certain Derivative Instruments and Certain
Hedging Activities--an amendment of FASB Statement No. 133 ('SFAS 138'), which
became effective for Series C on July 1, 2000. SFAS 138 amends the accounting
and reporting standards of FASB Statement No. 133 for certain derivative
instruments and certain hedging activities. SFAS 138 has not had a material
effect on the carrying value of assets and liabilities within the financial
statements.
ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK
Information regarding quantitative and qualitative disclosures about market
risk is not required pursuant to Item 305(e) of Regulation S-K.
8
<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--Effective September 2000, Eleanor L. Thomas was
elected by the Board of Directors of Prudential Securities Futures
Management Inc. as President replacing Joseph A. Filicetti.
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 C's Registration Statement on Form S-1,
File No. 333-43043)
4.2--Form of Request for Redemption (incorporated by reference to Exhibit 4.2
to Series C's Registration Statement on Form S-1, File No. 333-43043)
4.3--Form of Exchange Request (incorporated by reference to Exhibit 4.3 to
Series C's Registration Statement on Form S-1, File No. 333-43043)
4.4--Form of Subscription Agreement (incorporated by reference to Exhibit 4.4
to Series C's Registration Statement on Form S-1, File No. 333-43043)
10.7--Advisory Agreement dated November 1, 2000 among the Registrant,
Prudential Securities Futures Management Inc. and Northfield Trading L.P.
(filed herewith)
27.1--Financial Data Schedule (filed herewith)
(b) Reports on Form 8-K--None
9
<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 C
By: Prudential Securities Futures Management Inc.
A Delaware corporation, Managing Owner
By: /s/ Steven Carlino Date: November 13, 2000
----------------------------------------
Steven Carlino
Vice President and Treasurer
10
