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

April 2, 2007

Date of Report (Date of Earliest Event Reported)

WORLD MONITOR TRUST III – SERIES I

(Exact name of Registrant as Specified in its Charter)

Delaware	333-119612	20-1698147
(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

(Former Name or Former Address, if changed since last report)

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 1.02 Termination of a Material Definitive Agreement.

On April 2, 2007 the Board of Directors of Preferred Investment Solutions Corp. (“Preferred”), the managing owner of World Monitor Trust III – Series I (“Registrant”), pursuant to Section 13.1(i) of Registrant’s Second Amended and Restated Declaration of Trust and Trust Agreement of World Monitor Trust III dated as of September 27, 2005 by and among Preferred, Wilmington Trust Company and the Unitholders, resolved to dissolve Registrant effective close of business on April 30, 2007. Given the low asset level of Registrant, Preferred determined that the ongoing operating and administrative expenses required to continue Registrant’s operations was not in the best interests of Registrant’s Unitholders.

The Directors of Preferred also resolved to mandatorily redeem any Limited Units of the Registrant that are outstanding on April 30, 2007 as of that date.

A copy of the related Notice to Unitholders is filed herewith as Exhibit 99.1 to this Form 8-K and is incorporated herein by reference in its entirety.

Item 9.01 Financial Statements and Exhibits.

Exhibit No.	Description
99.1	Notice to Unitholders dated April 2, 2007

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, this report has been signed below by the following persons on behalf of the Registrant in the capacities indicated on April 2, 2007.

	WORLD MONITOR TRUST III – SERIES I
	By:	Preferred Investment Solutions Corp. its Managing Owner
Date: April 2, 2007		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

April 2, 2007

Re: World Monitor Trust III (“WMT III”) – Series I (“Series I”)

Dear Unitholder:

Please be advised that Preferred Investment Solutions Corp. (“Preferred”), the managing owner of Series I, pursuant to Section 13.1(i) of WMT III’s Second Amended and Restated Declaration of Trust and Trust Agreement, has determined to dissolve Series I effective close of business on April 30, 2007. Given the low asset level of Series I, Preferred determined that the ongoing operating and administrative expenses required to continue operating Series I was not in the best interests of Series I’s Unitholders.

Please contact your Financial Advisor for instructions on how to place redemption instructions. If we have not received your redemption request by April 25, 2007, your Units in Series I will be automatically redeemed as of April 30, 2007, and we will wire redemption proceeds to your account.

Please note that you can also exchange your Units in Series I for Units for Units in Series G at no additional cost. You should complete the Exchange Request Form included with your current Prospectus and return to us by April 25, 2007. Please speak to your Financial Advisor for more information and a current Prospectus for WMT III.

If you have any questions, please feel free to call your Financial Advisor or Kenmar’s Investor Services Group at 914.307.4000. We appreciate the support you have shown for WMT III and Kenmar.

Best Regards,

/s/ Jennifer Moros

Jennifer Moros

Senior Vice President, Marketing and Investor Services

Preferred Investment Solutions Corp.

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.