WILLOWBRIDGE STRATEGIC TRUST
MONTHLY REPORT/
OCTOBER 31, 1996
WILLOWBRIDGE STRATEGIC TRUST
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Dear Interest Holder:
Enclosed is the report for the month of October 1996 for Willowbridge Strategic
Trust (the ``Fund''). The net asset value of an interest as of October 31, 1996
was $99.49, an increase of 8.13% from the September 30, 1996 $92.01 value. The
1996 year-to-date return for the Fund was a decrease of 0.51% as of October 31,
1996.
The Fund's positive October performance was primarily driven by profits in the
financial, currency, soft and stock index sectors. Losses occurred in the
grain, energy, meat and metal sectors.
As the month wore on the markets became choppier, reflecting in part pre-U.S.
election uncertainties. Slow economic conditions in several major countries
caused bond prices to rise. As a result, Japanese, British, French, German and
U.S. bond positions within the financial sector were profitable. In the currency
sector, the strong British pound and Canadian dollar benefited the Fund's long
positions. Short positions in the Japanese yen profited from a strong U.S.
dollar. In the softs sector, the Fund's long coffee positions gained from rising
prices. A winning S&P 500 position made for positive performance in the stock
index sector.
The grain sector experienced losses as corn, wheat and soybean by-products were
affected by a market focused on a rising supply from anticipated strong
harvests. In the metal sector, trading in copper, gold and silver was
unprofitable.
The estimated net asset value per interest as of November 20, 1996 was $102.88.
Past performance is not necessarily indicative of future results.
Should you have any questions, please contact your Prudential Securities
Financial Advisor. For questions concerning your account status, contact
Prudential Securities Client Services at 1-800-535-2077.
Sincerely yours,
James M. Kelso
President & Director
PRUDENTIAL SECURITIES FUTURES
MANAGEMENT INC.
Please note that the value which appears on your Prudential Securities
statement is an estimated value at month-end. The correct value is contained
in this report.
STATEMENT OF OPERATIONS
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For the month of October 1996
Revenues:
Realized gain on commodity
transactions...................... $ 765,336
Change in unrealized commodity
positions......................... 1,392,889
Interest income..................... 91,045
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2,249,270
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Expenses:
Commissions......................... 145,125
Management fee...................... 61,438
Incentive fee....................... 214,261
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420,824
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Net gain............................ $1,828,446
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STATEMENT OF CHANGES IN NET ASSET VALUE
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For the month of October 1996
Per
Total Unit
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Net asset value at beginning
of month (230,170.790
interests)................ $21,177,254 $92.01
Contributions............... 1,293,800
Net gain.................... 1,828,446
Redemptions................. (39,796)
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Net asset value at end
of month (243,832.305
interests)................. $24,259,704 99.49
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Change in net asset
value per interest..................... $ 7.48
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Percentage change........................ 8.13%
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I hereby affirm that, to the best of my knowledge and belief, the information
contained herein relating to Willowbridge Strategic Trust is accurate and
complete.
PRUDENTIAL SECURITIES FUTURES
MANAGEMENT INC.
by: Barbara J. Brooks
Treasurer