8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

July 20, 2006

Date of Report (Date of Earliest Event Reported)

WORLD MONITOR TRUST – SERIES B

(Exact name of Registrant as Specified in its Charter)

Delaware	0-25787	13-3985041
(State or other Jurisdiction of Incorporation or Organization)	(Commission File Number)	(I.R.S. Employer Identification No.)

900 King Street, Rye Brook, New York 10573

(Address of principal executive offices) (Zip Code)

Registrant’s telephone number, including area code: (914) 307-7000

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 8.01 Other Events

On July 20, 2006, the Board of Directors of Preferred Investment Solutions Corp. (“Preferred”), the managing owner of the Registrant, resolved to dissolve Registrant (and each of Series A and Series B) and liquidate its assets in accordance with the terms of Registrant’s Third Amended and Restated Declaration of Trust and Trust Agreement as of August 25, 2006. A copy of the related Notice to Interestholders is filed herewith as Exhibit 99.1 to this Form 8-K and is incorporated herein by reference in its entirety

The Directors of Preferred also resolved to mandatorily redeem any Limited Interests of the Registrant that are outstanding on August 25, 2006 as of that date.

Item 9.01 Financial Statements and Exhibits

Exhibit No.	Description
99.1	Letter dated July 20, 2006

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, this report has been signed below by the following person on behalf of the Registrant in the capacity indicated on July 20, 2006.

	WORLD MONITOR TRUST – SERIES B (Registrant)
	By:	Preferred Investment Solutions Corp., its Managing Owner
Date: July 20, 2006	By:	/s/ Lawrence S. Block
		Name:	Lawrence S. Block
		Title:	Senior Vice President and General Counsel

EX-99.1

Exhibit 99.1

Preferred Investment Solutions Corp.

900 King Street, Suite 100

Rye Brook, NY 10573

Telephone: (914) 307-7000

Fax: (914) 307- 4045

July 20, 2006

Dear Investor:

Please be advised that effective August 25^th, 2006 World Monitor Trust Class A and World Monitor Trust Class B will close. The asset levels as of June 1, 2006 were $1.8m and $3.8m, respectively. As assets decline, ongoing operating and administrative expenses continue to become a larger proportion of each Fund and as such, negatively impact the UNAV.

World Monitor Trust Class A and Class B offer weekly liquidity. Please contact your Wachovia Financial Advisor for instructions on how to place redemption instructions. If you have not placed redemption instructions by August 25^th, 2006, your investment will automatically redeem as of this date and proceeds wired to your Wachovia account.

Please note Kenmar also offers World Monitor Trust III, a publicly offered managed futures fund. Please speak to your Wachovia Financial Advisor for information and a current Offering Memorandum on WMT III.

We appreciate the support you have shown to-date for World Monitor Trust and Kenmar.

Regards,

/s/ Florence Sofer

Florence Sofer

Director, Investor Services & Communication

Kenmar Group Inc.

Investments in commodities/futures, options on them, and managed futures are not appropriate for all investors, as the risk of loss is substantial. Therefore, only risk or hedge capital should be invested in these securities

Alternative investments carry specific investor qualifications which can include high income and net-worth requirements as well as relatively high investment minimums. They are complex investment vehicles, which generally have high costs and substantial risks. The high expenses often associated with these investments must be offset by trading profits and other income. They tend to be more volatile than other types of investments and present an increased risk of investment loss. There may also be a lack of transparency as to the underlying assets. Additionally, there may be no secondary market for alternative investment interests and transferability may be limited or even prohibited. Other risks may apply as well, depending on the specific investment product. Please carefully review the Private Placement Memorandum or other offering documents for complete information regarding terms, including all applicable fees, as well as other factors you should consider before investing.