WILLOWBRIDGE STRATEGIC TRUST
MONTHLY REPORT/
FEBRUARY 28, 1997
WILLOWBRIDGE STRATEGIC TRUST
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Dear Interest Holder:
Enclosed is the report for the month of February 1997 for Willowbridge Strategic
Trust (the ``Fund''). The net asset value of an interest as of February 28, 1997
was $114.47, an increase of 7.98% from the January 31, 1997 $106.01 value. The
1997 year-to-date return for the Fund was an increase of 10.63% as of February
28, 1997.
The Fund's positive February performance was the result of profits earned in the
metal, soft, grain, financial, currency and meat sectors. Losses were incurred
in the energy sector.
In the metal sector, copper, aluminum, nickel, zinc and silver positions posted
gains. Base metal prices rose during the month on expectations of rising demand
from developing and industrialized countries. Copper prices also soared on news
of decreased London stockpiles. In the soft sector, coffee positions were
profitable. The two-month bull trend in coffee prices continued as unfavorable
weather in Brazil and Colombia threatened 1997-1998 crop production and labor
strife curtailed delivery of supplies.
In the grain sector, soybean by-products, corn and wheat positions were
profitable. Prices rose as the markets focused attention on historically low
supplies in the major grain producing regions of the world coupled with signs of
stronger demand. In the financial sector, U.S., German, French, Italian and
Japanese bond positions posted profits. Interest rate market prices reflected
concerns about possible delays to European economic and monetary union. In the
currency sector, German mark, Japanese yen and Swiss franc positions were
profitable. Despite the best efforts of G-7 nations to talk the U.S. dollar down
from its lofty peaks, defiant market players pushed the greenback to new highs
against the German mark, Japanese yen and Swiss franc. Later in the month, hints
by the Chairman of the U.S. Federal Reserve of a possible interest rate hike
sent the dollar soaring, as it seemed the U.S. currency would retain its
high-yield status in the global marketplace.
The estimated net asset value per interest as of March 24, 1997 was $116.00.
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 February 1997
Revenues:
Realized gain on commodity
transactions........................... $ 3,045,653
Change in unrealized commodity
positions.............................. 769,940
Interest income.......................... 145,274
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3,960,867
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Expenses:
Commissions.............................. 236,940
Management fee........................... 101,426
Incentive fee............................ 695,445
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1,033,811
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Net gain................................. $ 2,927,056
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STATEMENT OF CHANGES IN NET ASSET VALUE
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For the month of February 1997
Total Per Unit
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Net asset value at beginning of
month
(303,239.850 interests)....... $32,147,746 $ 106.01
Contributions................... 4,539,800
Net gain........................ 2,927,056
Redemptions..................... (96,370)
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Net asset value at end
of month
(345,222.235 interests)....... $39,518,232 114.47
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Change in net asset
value per interest......................... $ 8.46
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Percentage change............................ 7.98%
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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