WILLOWBRIDGE STRATEGIC TRUST
MONTHLY REPORT/
MAY 31, 1997
WILLOWBRIDGE STRATEGIC TRUST
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Dear Interest Holder:
Enclosed is the report for the month of May 1997 for Willowbridge Strategic
Trust (the 'Trust'). The net asset value of an interest as of May 31, 1997 was
$111.79, a decrease of 1.34% from the April 30, 1997 $113.31 value. The 1997
year-to-date return for the Fund was an increase of 8.04% as of May 31, 1997.
The Trust's decline in net asset value was the result of losses incurred in the
grain, index, energy, meat, financial and soft sectors. Profits were earned in
the metal and currency sectors.
In the metal sector, gains were realized from significant copper positions.
Copper prices rose in May due to signs of higher demand and indications of
declining inventories. In addition, a brief strike at Chile's state owned copper
smelter drove prices upward. Zinc positions also posted gains. In the currency
sector, large gains were experienced in the Japanese yen as the Trust benefited
from rising prices of the U.S. dollar. The yen rose against the dollar on the
possibility of central bank intervention in the currency markets and signs of
accelerating Japanese growth.
In May, prices fell across the grain sector providing losses for the Trust.
Wheat and soybeans were affected the most by the U.S. Agriculture Department's
report projecting an increase in worldwide wheat and soybean production. Index
positions were also unprofitable, specifically the S&P 500 and Hong Kong
HangSeng. In the energy sector, losses were experienced in all contracts. Oil
prices reversed during the month as the election of a moderate candidate in Iran
lessened market concerns about Middle East political stability driving prices
lower.
The estimated net asset value per interest as of June 23, 1997 was $107.64. 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 May 1997
Revenues:
Realized gain on commodity
transactions........................... $ 365,279
Change in unrealized commodity
positions.............................. (765,390)
Interest income.......................... 179,661
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(220,450)
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Expenses:
Commissions.............................. 318,379
Management fee........................... 121,896
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440,275
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Net loss................................. $ (660,725)
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STATEMENT OF CHANGES IN NET ASSET VALUE
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For the month of May 1997
Total Per Unit
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Net asset value at beginning of
month
(414,437.991 interests)....... $46,961,101 $ 113.31
Contributions................... 2,336,300
Net loss........................ (660,725)
Redemptions..................... (757,721)
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Net asset value at end
of month
(428,277.945 interests)....... $47,878,955 111.79
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Change in net asset
value per interest......................... $ (1.52)
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Percentage change............................ (1.34)%
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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