<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 24, 1999
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: 333-83011
333-83015
333-83017
WORLD MONITOR TRUST II-SERIES D
WORLD MONITOR TRUST II-SERIES E
WORLD MONITOR TRUST II-SERIES F
- --------------------------------------------------------------------------------
(Exact name of Registrant as specified in its charter)
13-4058318
13-4058319
Delaware 13-4058320
- --------------------------------------------------------------------------------
(State or other jurisdiction of
incorporation or organization) (I.R.S. Employer Identification No.)
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 ___ No _CK_
<PAGE>
PART I. FINANCIAL INFORMATION
ITEM 1. FINANCIAL STATEMENTS
WORLD MONITOR TRUST II
(a Delaware Business Trust)
STATEMENT OF FINANCIAL CONDITION
September 24, 1999
(Unaudited)
ASSETS
<TABLE>
<CAPTION>
Series D Series E Series F
-------- -------- --------
<S> <C> <C> <C>
Cash................................................................ $ 1,000 $ 1,000 $ 1,000
-------- -------- --------
-------- -------- --------
TRUST CAPITAL
General Interests (10 Interests issued and outstanding for each
Series D, E and F, respectively).................................. $ 1,000 $ 1,000 $ 1,000
-------- -------- --------
-------- -------- --------
</TABLE>
- --------------------------------------------------------------------------------
The accompanying notes are an integral part of this statement.
2
<PAGE>
WORLD MONITOR TRUST II
(a Delaware Business Trust)
NOTES TO STATEMENT OF FINANCIAL CONDITION
September 24, 1999
(Unaudited)
A. General
The Trust, Trustee, Managing Owner and Affiliates
World Monitor Trust II (the 'Trust') is a business trust organized under the
laws of Delaware on April 22, 1999. The Trust has not yet commenced operations.
The Trust was formed to engage in the speculative trading of a diversified
portfolio of futures, forward and options contracts and may, from time to time,
engage in cash and spot transactions. The trustee of the Trust is Wilmington
Trust Company. The managing owner is Prudential Securities Futures Management
Inc. (the 'Managing Owner'), a wholly owned subsidiary of Prudential Securities
Incorporated ('PSI') which, in turn, is a wholly owned subsidiary of Prudential
Securities Group Inc. PSI is the selling agent for the Trust as well as the
commodity broker ('Commodity Broker') of the Trust.
The Offering
Beneficial interests in the Trust ('Interests') are being offered pursuant to
Rule 415 of Regulation C under the Securities Act of 1933 in three separate and
distinct series ('Series'): Series D, E and F. The assets of each Series will be
segregated from the other Series, separately valued and independently managed.
Up to $50,000,000 of Interests for each Series will be offered (totalling
$150,000,000) unless the Managing Owner, in its sole discretion, exercises its
over-subscription option to offer additional Interests ('Subscription Maximum').
Interests are being offered to investors who meet certain established
suitability standards, with a minimum initial subscription of $5,000 per
subscriber or, for any investment made on behalf of an individual retirement
account ('IRA'), the minimum initial subscription is $2,000. A subscriber may
purchase Interests in any one or a combination of Series, although the minimum
purchase for any single Series is $1,000.
Initially, the Interests for each Series are being offered for a period of up
to 120 days after the date of the Prospectus ('Initial Offering Period'). Each
Series may commence operations at any time if the minimum amount of Interests
have been sold before the Initial Offering Period is reached ('Subscription
Minimum'). The Subscription Minimum is $5,000,000 for each Series. If the
Subscription Minimum is not sold for any Series during the Initial Offering
Period, the subscription amount (which will be held in escrow) plus interest
will be returned to the subscriber. The price per Interest during the Initial
Offering Period is $100. Thereafter, or until the Subscription Maximum for each
Series is sold ('Continuous Offering Period'), each Series' Interests will
continue to be offered on a weekly basis at the net asset value per Interest.
Additional purchases may be made in $100 increments.
The Managing Owner has contributed $1,000 to each Series and in return the
Managing Owner has received 10 General Interests in each Series. The Managing
Owner is required to maintain at least a one percent interest in the capital,
profits and losses of each Series so long as it is acting as the Managing Owner,
and it will make such contributions (and in return will receive such General
Interests) as are necessary to effect this requirement.
The Trading Advisors
Each Series has its own professional commodity trading advisor that will make
that Series' trading decisions. The Managing Owner, on behalf of the Trust,
entered into advisory agreements with Bridgewater Associates, Inc., Graham
Capital Management, L.P. and Campbell & Company, Inc. (each a 'Trading Advisor')
to make the trading decisions for Series D, E and F, respectively. Each advisory
agreement may be terminated at the discretion of the Managing Owner. The
Managing Owner will allocate one hundred percent of the proceeds from the
initial offering of each Series' Interests to the Trading Advisor for that
Series and it is currently contemplated that each Series' Trading Advisor will
continue to be allocated one hundred percent of additional capital raised from
that Series during the continuous offering of Interests.
3
<PAGE>
Exchanges, Redemptions and Termination
Once trading commences, 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.
Exchanges are made at the applicable Series' then current net asset value per
Interest as of the close of business on the Friday immediately preceding the
week in which the exchange request is effected. An exchange of Interests will be
treated as a redemption of Interests in one Series (with the related tax
consequences) and the simultaneous purchase of Interests in the Series exchanged
into.
Redemptions will be permitted on a weekly basis. Interests redeemed on or
before the end of the first and second successive six-month periods after their
effective dates will be subject to a redemption fee of four percent and three
percent, respectively, of the net asset value at which they are redeemed.
Redemption fees will be paid to the Managing Owner.
In the event that the estimated net asset value per Interest of a Series at
the end of any business day, after adjustments for distributions, declines by
50% or more since the commencement of trading activities or the first day of a
fiscal year, the Series will terminate.
B. Summary of Significant Accounting Policies
Basis of accounting
The books and records of each Series will be maintained on the accrual basis
of accounting in accordance with generally accepted accounting principles.
Income taxes
Each Series is not required to provide for, or pay, any federal or state
income taxes. Income tax attributes that arise from their operations will be
passed directly to the individual limited owners including the Managing Owner.
Each Series may be subject to other state and local taxes in jurisdictions in
which they operate.
Profit and loss allocations and distributions
Each Series intends to allocate profits and losses for both financial and tax
reporting purposes to the owners weekly on a pro rata basis based on each
owner's Interests outstanding during the week. Distributions will be made at the
sole discretion of the Managing Owner on a pro rata basis in accordance with the
respective capital balances of the owners; however, the Managing Owner does not
intend to make any distributions.
C. Fees
Organizational and offering costs
PSI or its affiliates have paid and will continue to pay the costs of
organizing each Series and offering their Interests.
General and administrative costs
Routine legal, audit, postage, and other routine third party administrative
costs will be paid by each Series. Additionally, each Series will pay the
administrative costs incurred by the Managing Owner or its affiliates for
services it performs for each Series which include, but are not limited to,
those costs discussed in Note D below. However, all of these general and
administrative costs incurred by each Series will be limited to 1.5% annually of
the net asset value of the Series.
Management and incentive fees
Each Series will pay its Trading Advisor a management fee at an annual rate
of 1.25% for Series D, 2% for Series E and 2% for Series F of such Series' net
asset value allocated to its management. The management fee will be determined
weekly and the sum of such weekly amounts will be paid monthly. Each Series will
also pay its Trading Advisor a quarterly incentive fee equal to 22% of such
Trading Advisor's 'New High Net Trading Profits' (as defined in each Advisory
Agreement). The incentive fee will also accrue weekly.
4
<PAGE>
Commissions
The Managing Owner and the Trust entered into a brokerage agreement (the
'Brokerage Agreement') with PSI to act as Commodity Broker for each Series
whereby each Series will pay a fixed fee for brokerage services rendered at an
annual rate of 6% of each Series' net asset value. The fee will be determined
weekly and the sum of such weekly amounts will be paid monthly. Each Series will
also be obligated to pay all floor brokerage expenses, give-up charges and NFA,
clearing and exchange fees incurred in connection with each Series' commodity
trading activities.
D. Related Parties
The Managing Owner or its affiliates will perform services for each Series
which will include but are not limited to: brokerage services, accounting and
financial management, investor communications, printing and other administrative
services.
All of the proceeds of this offering will be received in the name of each
Series and will be deposited in trading or cash accounts maintained for each
Series at PSI. Once trading commences, each Series' assets will be maintained
either on deposit with PSI or, for margin purposes, with the various exchanges
on which the Series are permitted to trade. Each Series will receive interest
income on 100% of its average daily equity maintained in cash in the Series'
accounts with PSI during each month at the 13-week Treasury bill discount rate.
This rate is determined weekly by PSI and represents the rate awarded to all
bidders during each week's auction of 13-week Treasury bills (e.g., 4.660% for
the 13-week Treasury bill auction on September 23, 1999).
Each Series, acting through its Trading Advisor, may execute
over-the-counter, spot, forward and option foreign exchange transactions with
PSI. PSI will then engage in back-to-back trading with an affiliate,
Prudential-Bache Global Markets Inc. ('PBGM'). PBGM will attempt to earn a
profit on such transactions. PBGM will keep its prices on foreign currency
competitive with other interbank currency trading desks. All over-the-counter
currency transactions will be 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 each Series.
E. Credit and Market Risk
Since each Series' business is to trade futures, forward (including foreign
exchange transactions) and options contracts, their capital will be 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).
Futures, forward and options contracts involve varying degrees of off-balance
sheet risk; and changes in the level or volatility of interest rates, foreign
currency exchange rates or the market values of the contracts (or commodities
underlying the contracts) frequently result in changes in each Series'
unrealized gain (loss) on open commodity positions reflected in the statement of
financial condition. Each Series' exposure to market risk will be influenced by
a number of factors including the relationships among the contracts to be held
by each Series as well as the liquidity of the markets in which the contracts
are to be traded.
Futures and options contracts are traded on organized exchanges and are thus
distinguished from forward contracts which are entered into privately by the
parties. The credit risks associated with futures and options contracts are
typically perceived to be less than those associated with forward contracts
because exchanges typically provide clearinghouse arrangements in which the
collective credit (subject to certain limitations) of the members of the
exchanges is pledged to support the financial integrity of the exchange. On the
other hand, each Series must rely solely on the credit of their broker (PSI)
with respect to forward transactions. Each Series will present unrealized gains
and losses on open forward positions as a net amount in the statement of
financial condition because they will enter into a master netting agreement with
PSI.
5
<PAGE>
The Managing Owner will attempt to minimize both credit and market risks
by requiring each Series and its Trading Advisors to abide by various
trading limitations and policies. The Managing Owner will monitor
compliance with these trading limitations and policies which
include, but are not limited to, executing and clearing all trades
with creditworthy counterparties (currently, PSI will be the sole
counterparty or broker); limiting the amount of margin or premium required
for any one commodity or all commodities; and generally limiting transactions to
contracts which are traded in sufficient volume to permit the taking and
liquidating of positions. Additionally, pursuant to the Advisory Agreement among
each Series, the Managing Owner and the Trading Advisor, each Series shall
automatically terminate the Trading Advisor if the net asset value allocated to
the Trading Advisor declines by 40% from the value at the beginning of any year
or since the commencement of trading activities. Furthermore, the First Amended
and Restated Declaration of Trust and Trust Agreement provides that each Series
will liquidate its positions, and eventually dissolve, if each Series
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 Advisors as it, in good faith, deems
to be in the best interests of each Series.
PSI, when acting as each Series' futures commission merchant in accepting
orders for the purchase or sale of domestic futures and options contracts, will
be required by Commodity Futures Trading Commission ('CFTC') regulations to
separately account for and segregate as belonging to each Series all assets of
each Series relating to domestic futures and options trading and is not to
commingle such assets with other assets of PSI. Part 30.7 of the CFTC
regulations also will require PSI to secure assets of each Series related to
foreign futures and options trading. There are no segregation requirements for
assets related to forward trading.
6
<PAGE>
WORLD MONITOR TRUST II
(a Delaware Business Trust)
ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION
AND RESULTS OF OPERATIONS
Liquidity and Capital Resources
As of September 24, 1999 the minimum required capital of $5,000,000 for each
Series through their public offering of Interests had not yet become available.
This caused the Trust to have limited funds on September 24, 1999. Each Series
plans to use the funds raised from investors by means of this offering of
Interests for the speculative trading of a diversified portfolio consisting of
commodity futures, forward and options contracts and may, from time to time,
engage in cash and spot transactions. Additional Interests of each Series will
continue to be offered on a weekly basis at the Net Asset Value per Interest
until the Subscription Maximum of $50,000,000 for each Series is sold.
Each Series' net assets will be held in accounts at PSI. Except for that
portion of any Series' assets that is deposited as margin to maintain forward
currency contract positions, each Series' assets will be maintained either on
deposit with PSI or, for margin purposes, with the various exchanges on which
the Series are permitted to trade. Each Series will receive interest income on
100% of its average daily equity maintained in cash in the Series' accounts with
PSI during each month at the 13-week Treasury bill discount rate. This rate is
determined weekly by PSI and represents the rate awarded to all bidders during
each week's auction of 13-week Treasury bills (e.g., 4.660% for the 13-week
Treasury bill auction on September 23, 1999).
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 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 a Series from promptly liquidating its commodity
futures positions.
Since each Series' business will be to trade futures, forward (including
foreign exchange transactions) and options contracts, its capital will be 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). The Managing Owner will attempt to minimize these risks by requiring the
Series' Trading Advisors to abide by various trading limitations and policies.
See Note E to the financial statements for a further discussion of the credit
and market risks associated with each Series' futures, forward and options
contracts.
No Series has, nor do they expect to have, any capital assets.
Future redemptions and contributions will impact the amount of funds
available for investment in commodity contracts in subsequent periods.
Results of Operations
Through September 24, 1999, the Trust has not yet commenced operations.
Year 2000 Risk
Investment funds, like financial and business organizations and individuals
around the world, depend on the smooth functioning of computer systems. The year
2000, however, holds the potential for a significant disruption in the operation
of these systems. Many computer systems in use today cannot distinguish the year
2000 from the year 1900 because of the way in which dates are encoded. This is
commonly known as the 'Year 2000 Problem.' Each Series could be adversely
affected if computer systems used by it or any third party with whom it has a
material relationship do not properly perform date comparisons and calculations
concerning dates on or after January 1, 2000, which in turn could have a
negative impact on the handling or determination of trades and prices and the
services provided to each Series.
Each Series will be engaging third parties to perform primarily all of the
services it needs. Accordingly, each Series' Year 2000 problems, if any, are not
their own but those that center on the ability of the Trustee,
7
<PAGE>
Managing Owner, Prudential Securities Incorporated, its Trading Advisor and any
other third party with whom each Series has a material relationship
(individually, a 'Service Provider,' and collectively, the 'Service Providers')
to address and correct problems that may cause their systems not to function as
intended as a result of the Year 2000 Problem.
Each Series has received assurances from the Managing Owner, Prudential
Securities Incorporated, and its Trading Advisor that they anticipate being able
to continue their operations without any material adverse impact from the Year
2000 Problem. Although other Service Providers, such as each Series' Trustee,
have not made similar representations to each Series, each Series has no reason
to believe that these Service Providers will not take steps necessary to avoid
any material adverse impact on each Series, though there can be no assurance
that this will be the case. The costs or consequences of incomplete or untimely
resolution of the Year 2000 Problem by the Service Providers, or by governments,
exchanges, clearing houses, regulators, banks and other third parties, are
unknown to each Series at this time, but could have a material adverse impact on
the operations of each Series. The Managing Owner will promptly notify each
Series' limited owners in the event it determines that the Year 2000 Problem
will have a material adverse impact on each Series' operations.
Each Series has considered various alternatives as a contingency plan. If the
Year 2000 Problems are systemic, for example, the federal government, the
banking system, exchanges or utilities are affected materially, there may be no
adequate contingency plan for each Series to follow other than to suspend
operations. If the Year 2000 Problems are related to one or more of the other
Service Providers selected by each Series, each Series believes that each such
Service Provider is prepared to address any Year 2000 Problems which arise that
could have a material adverse impact on each Series' operations.
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--None
Item 6. Exhibits and Reports on Form 8-K
(a) Exhibits--
3.1
and
4.1-- First Amended and Restated Declaration of Trust and Trust
Agreement of World Monitor Trust II dated as of May 15, 1999
(incorporated by reference to Exhibit 3.1 and 4.1 to each of Series
D, E and F's Registration Statements on Form S-1, File Nos.
333-83011, 333-83015 and 333-83017, respectively, filed on
September 15, 1999)
4.2-- Form of Request for Redemption (incorporated by reference to
Exhibit 4.2 to each of Series D, E and F's Registration
Statements on Form S-1, File Nos. 333-83011, 333-83015 and
333-83017, respectively, filed on September 15, 1999)
4.3-- Form of Exchange Request (incorporated by reference to
Exhibit 4.3 to each of Series D, E and F's Registration
Statements on Form S-1, File Nos. 333-83011, 333-83015
and 333-83017, respectively, filed on September 15, 1999)
4.4-- Form of Subscription Agreement (incorporated by
reference to Exhibit 4.4 to each of Series D, E
and F's Registration Statements on Form S-1, File
Nos. 333-83011, 333-83015 and 333-83017,
respectively, filed on September 15, 1999)
10.1-- Form of Escrow Agreement among the Trust, Prudential
Securities Futures Management Inc., Prudential Securities
Incorporated and the Chase Manhattan Bank (incorporated
by reference to Exhibit 10.1 to each of Series D, E and
F's Registration Statements on Form S-1, File Nos. 333-83011,
333-83015 and 333-83017, respectively, filed on
September 15, 1999)
10.2-- Form of Brokerage Agreement among the Trust and Prudential
Securities Incorporated (incorporated by reference to Exhibit
10.2 to each of Series D, E and F's Registration
Statements on Form S-1, File Nos. 333-83011, 333-83015 and
333-83017, respectively, filed as of July 16, 1999)
10.3-- Form of Advisory Agreement among the Trust, Prudential
Securities Futures Management Inc., and each Trading Advisor
(incorporated by reference to Exhibit 10.3 to each of Series
D, E and F's Registration Statements on Form S-1, File
Nos. 333-83011, 333-83015 and 333-83017, respectively, filed
on July 16, 1999 for Series D and E and September 15, 1999
for Series F)
10.4-- Form of Representation Agreement Concerning the
Representation Statement and the Prospectus among
the Trust, Prudential Securities Futures Management Inc.,
Prudential Securities Incorporated, Wilmington Trust Company
and each Trading Advisor (incorporated by reference to Exhibit
10.4 to each of Series D, E and F's Registration Statements on
Form S-1, File Nos. 333-83011, 333-83015 and 333-83017,
respectively, filed on July 16, 1999 for Series D and E and
September 15, 1999 for Series F)
9
<PAGE>
10.5-- Form of Net Worth Agreement between Prudential Securities
Futures Management Inc. and Prudential Securities Group
Inc. (incorporated by reference to Exhibit 10.5 to
each of Series D, E and F's Registration Statements on Form
S-1, File Nos. 333-83011, 333-83015 and 333-83017,
respectively, filed on July 16, 1999)
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 II--SERIES D
WORLD MONITOR TRUST II--SERIES E
WORLD MONITOR TRUST II--SERIES F
By: Prudential Securities Futures Management
Inc.A Delaware corporation, Managing Owner
By: /s/ Steven Carlino Date: November 8, 1999
----------------------------------------
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 D
and is qualified in its entirety by reference
to such financial statements
</LEGEND>
<RESTATED>
<CIK> 0001090697
<NAME> World Monitor Trust--Series D
<MULTIPLIER> 1
<FISCAL-YEAR-END> Dec-31-1999
<PERIOD-START> Jan-1-1999
<PERIOD-END> Sep-24-1999
<PERIOD-TYPE> 9-Mos
<CASH> 1,000
<SECURITIES> 0
<RECEIVABLES> 0
<ALLOWANCES> 0
<INVENTORY> 0
<CURRENT-ASSETS> 1,000
<PP&E> 0
<DEPRECIATION> 0
<TOTAL-ASSETS> 1,000
<CURRENT-LIABILITIES> 0
<BONDS> 0
0
0
<COMMON> 0
<OTHER-SE> 1,000
<TOTAL-LIABILITY-AND-EQUITY> 1,000
<SALES> 0
<TOTAL-REVENUES> 0
<CGS> 0
<TOTAL-COSTS> 0
<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> 0
<EPS-BASIC> 0
<EPS-DILUTED> 0
</TABLE>
<TABLE> <S> <C>
<PAGE>
<ARTICLE> 5
<LEGEND>
The Schedule contains summary financial
information extracted from the financial
statements for World Monitor Trust--Series E
and is qualified in its entirety by reference
to such financial statements
</LEGEND>
<RESTATED>
<CIK> 0001090701
<NAME> World Monitor Trust--Series E
<MULTIPLIER> 1
<FISCAL-YEAR-END> Dec-31-1999
<PERIOD-START> Jan-1-1999
<PERIOD-END> Sep-24-1999
<PERIOD-TYPE> 9-Mos
<CASH> 1,000
<SECURITIES> 0
<RECEIVABLES> 0
<ALLOWANCES> 0
<INVENTORY> 0
<CURRENT-ASSETS> 1,000
<PP&E> 0
<DEPRECIATION> 0
<TOTAL-ASSETS> 1,000
<CURRENT-LIABILITIES> 0
<BONDS> 0
0
0
<COMMON> 0
<OTHER-SE> 1,000
<TOTAL-LIABILITY-AND-EQUITY> 1,000
<SALES> 0
<TOTAL-REVENUES> 0
<CGS> 0
<TOTAL-COSTS> 0
<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> 0
<EPS-BASIC> 0
<EPS-DILUTED> 0
</TABLE>
<TABLE> <S> <C>
<PAGE>
<ARTICLE> 5
<LEGEND>
The Schedule contains summary financial
information extracted from the financial
statements for World Monitor Trust--Series F
and is qualified in its entirety by reference
to such financial statements
</LEGEND>
<RESTATED>
<CIK> 0001090702
<NAME> World Monitor Trust--Series F
<MULTIPLIER> 1
<FISCAL-YEAR-END> Dec-31-1999
<PERIOD-START> Jan-1-1999
<PERIOD-END> Sep-24-1999
<PERIOD-TYPE> 9-Mos
<CASH> 1,000
<SECURITIES> 0
<RECEIVABLES> 0
<ALLOWANCES> 0
<INVENTORY> 0
<CURRENT-ASSETS> 1,000
<PP&E> 0
<DEPRECIATION> 0
<TOTAL-ASSETS> 1,000
<CURRENT-LIABILITIES> 0
<BONDS> 0
0
0
<COMMON> 0
<OTHER-SE> 1,000
<TOTAL-LIABILITY-AND-EQUITY> 1,000
<SALES> 0
<TOTAL-REVENUES> 0
<CGS> 0
<TOTAL-COSTS> 0
<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> 0
<EPS-BASIC> 0
<EPS-DILUTED> 0
</TABLE>
