<Page>

                UNITED STATES SECURITIES AND EXCHANGE COMMISSION

                             WASHINGTON, D.C. 20549

                                    FORM 10-Q

(Mark One)

(X) QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934

For the quarterly period ended  March 31, 2003
                                --------------

                                     OR

( ) TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
    EXCHANGE ACT OF 1934

For the transition period from                  to
                               ----------------    ----------------

Commission File Number 0-28928

                      ML JWH STRATEGIC ALLOCATION FUND L.P.
                      -------------------------------------
                          (Exact Name of Registrant as
                            specified in its charter)

            Delaware                                        13-3887922
-------------------------------                ---------------------------------
(State or other jurisdiction of                (IRS Employer Identification No.)
incorporation or organization)

                  c/o Merrill Lynch Alternative Investments LLC
                           Princeton Corporate Campus
                       800 Scudders Mill Road - Section 2G
                          Plainsboro, New Jersey 08536
                          ----------------------------
                    (Address of principal executive offices)
                                   (Zip Code)

                                  609-282-6996
                                 --------------
              (Registrant's telephone number, including area code)

            Indicate by check mark whether the registrant (1) has filed all
reports required to be filed by Section 13 or 15 (d) of the Securities Exchange
Act of 1934 during the preceding 12 months (or for such shorter period that the
registrant was required to file such reports), and (2) has been subject to such
filing requirements for the past 90 days. Yes X  No
                                             ---   ---
<Page>
                         PART I - FINANCIAL INFORMATION

Item 1. Financial Statements

                      ML JWH STRATEGIC ALLOCATION FUND L.P.
                      -------------------------------------
                        (a Delaware limited partnership)
                        --------------------------------

                 CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION
                 ----------------------------------------------

<Table>
<Caption>
                                                         March 31,      December 31,
                                                           2003             2002
                                                        (unaudited)
                                                       -------------   -------------
<S>                                                    <C>              <C>
ASSETS
Equity in commodity futures trading accounts:
    Cash and option premiums                           $ 437,303,351    $ 309,093,654
    Net unrealized profit on open contracts              (15,756,505)      33,411,491
Accrued interest                                             405,899          338,254

Subscriptions receivable                                       6,831                -
                                                       -------------    -------------

                TOTAL                                  $ 421,959,576    $ 342,843,399
                                                       =============    =============
LIABILITIES AND PARTNERS' CAPITAL
LIABILITIES:
    Brokerage commissions payable                      $   2,021,762    $   1,546,360
    Profit share payable                                   5,574,031       20,144,968
    Redemptions payable                                    5,581,074        2,554,115
    Ongoing offering costs payable                            41,667           12,500
    Administrative fees payable                               87,903           67,233
                                                       -------------    -------------

            Total liabilities                             13,306,437       24,325,176
                                                       -------------    -------------

MINORITY INTEREST                                            253,257          220,555

PARTNERS' CAPITAL:
General Partner (15,836 and 15,665 Units)                  3,990,434        3,438,707
Limited Partner (1,604,895 and 1,434,337 Units)          404,409,448      314,858,961
                                                       -------------    -------------

            Total partners' capital                      408,399,882      318,297,668
                                                       -------------    -------------

                TOTAL                                  $ 421,959,576    $ 342,843,399
                                                       =============    =============

NET ASSET VALUE PER UNIT
(Based on 1,620,731 and 1,450,002 Units outstanding)   $      251.98    $      219.52
                                                       =============    =============
</Table>

See notes to consolidated financial statements.


                                       2
<Page>

                      ML JWH STRATEGIC ALLOCATION FUND L.P.
                      -------------------------------------
                        (a Delaware limited partnership)
                        --------------------------------

                      CONSOLIDATED STATEMENTS OF OPERATIONS
                      -------------------------------------
                                   (unaudited)
<Table>
<Caption>
                                                 For the three     For the three
                                                 months ended      months ended
                                                   March 31,         March 31,
                                                     2003              2002
                                                --------------    --------------
<S>                                             <C>               <C>
REVENUES:
    Trading income (loss):
      Realized                                  $  106,628,926    $   (8,937,790)
      Change in unrealized                         (49,194,206)      (11,946,914)
                                                --------------    --------------

            Total trading results                   57,434,720       (20,884,704)
                                                --------------    --------------

     Interest income                                 1,101,654           890,921
                                                --------------    --------------

            Total revenues                          58,536,374       (19,993,783)
                                                --------------    --------------
EXPENSES:
    Administrative fees                                257,043           152,263
    Brokerage commissions                            5,911,988         3,502,038
    Ongoing offering expense                           125,000                 -
                                                --------------    --------------

            Total expenses                           6,294,031         3,654,301
                                                --------------    --------------

    NET INCOME (LOSS) BEFORE
    MINORITY INTEREST AND
    PROFIT SHARE ALLOCATION                         52,242,343       (23,648,084)

    Profit share allocation                         (5,685,056)           (9,639)
    Minority interest in (income) loss                 (32,703)           15,871
                                                --------------    --------------

NET INCOME (LOSS)                               $   46,524,584    $  (23,641,852)
                                                ==============    ==============
NET INCOME (LOSS) PER UNIT:
    Weighted average number of units
        outstanding                                  1,556,498         1,497,586
                                                ==============    ==============

    Net income (loss) per weighted average
     General Partner and Limited Partner Unit   $        29.89    $       (15.79)
                                                ==============    ==============
</Table>

See notes to consolidated financial statements.


                                       3
<Page>

                      ML JWH STRATEGIC ALLOCATION FUND L.P.
                      -------------------------------------
                        (a Delaware limited partnership)
                        --------------------------------

             CONSOLIDATED STATEMENTS OF CHANGES IN PARTNERS' CAPITAL
             -------------------------------------------------------
               For the three months ended March 31, 2003 and 2002
               --------------------------------------------------
                                   (unaudited)

<Table>
<Caption>
                                          General         Limited
                          Units           Partner         Partners           Total
                      -------------    -------------    -------------    -------------
<S>                   <C>              <C>              <C>              <C>
PARTNERS' CAPITAL,
  December 31, 2001       1,494,282    $   2,556,954    $ 251,420,036    $ 253,976,990

Additions                    25,813                -        4,298,845        4,298,845

Net loss                          -         (237,691)     (23,404,161)     (23,641,852)

Redemptions                 (51,734)               -       (8,262,534)      (8,262,534)
                      -------------    -------------    -------------    -------------

PARTNERS' CAPITAL,
  March 31, 2002          1,468,361    $   2,319,263    $ 224,052,186    $ 226,371,449
                      =============    =============    =============    =============

PARTNERS' CAPITAL,
  December 31, 2002       1,450,002    $   3,438,707    $ 314,858,961    $ 318,297,668

Additions                   211,339           46,133       54,006,002       54,052,135

Net income                        -          505,594       46,018,990       46,524,584

Redemptions                 (40,610)               -      (10,474,505)     (10,474,505)
                      -------------    -------------    -------------    -------------

PARTNERS' CAPITAL,
  March 31, 2003          1,620,731    $   3,990,434    $ 404,409,448    $ 408,399,882
                      =============    =============    =============    =============
</Table>

See notes to consolidated financial statements.


                                       4
<Page>

                      ML JWH STRATEGIC ALLOCATION FUND L.P.
                      -------------------------------------
                        (a Delaware limited partnership)
                        --------------------------------

                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                   ------------------------------------------
                                   (unaudited)
                                   -----------

1.   SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

     These consolidated financial statements have been prepared without audit.
     In the opinion of management, the consolidated financial statements contain
     all adjustments (consisting of only normal recurring adjustments) necessary
     to present fairly the financial position of ML JWH Strategic Allocation
     Fund L.P (the "Partnership") as of March 31, 2003, and the results of its
     operations for the three months ended March 31, 2003 and 2002. The
     operating results for the interim periods may not be indicative of the
     results for the full year.

     Certain information and footnote disclosures normally included in annual
     financial statements prepared in accordance with accounting principles
     generally accepted in the United States of America have been omitted. It is
     suggested that these financial statements be read in conjunction with the
     financial statements and notes thereto included in the Partnership's Annual
     Report on form 10-K filed with the Securities and Exchange Commission for
     the year ended December 31, 2002.

2.   FAIR VALUE AND OFF-BALANCE SHEET RISK

     The nature of this Partnership has certain risks, which can not be
     presented on the financial statements. The following summarizes some of
     those risks.

     Market Risk
     -----------

     Derivative instruments involve varying degrees of off-balance sheet market
     risk. Changes in the level or volatility of interest rates, foreign
     currency exchange rates or the market values of the financial instruments
     or commodities underlying such derivative instruments frequently result in
     changes in the Partnership's net unrealized profit (loss) on such
     derivative instruments as reflected in the Consolidated Statements of
     Financial Condition. The Partnership's exposure to market risk is
     influenced by a number of factors, including the relationships among the
     derivative instruments held by the Partnership as well as the volatility
     and liquidity of the markets in which the derivative instruments are
     traded.

     The General Partner, Merrill Lynch Alternative Investments LLC ("MLAI
     LLC"), formerly MLIM Alternative Strategies LLC, has procedures in place
     intended to control market risk exposure, although there can be no
     assurance that they will, in fact, succeed in doing so. These procedures
     focus primarily on monitoring the trading of John W. Henry & Co., Inc.,
     ("JWH(R)"), the trading advisor, calculating the Net Asset Value of the
     Partnership as of the close of business on each day and reviewing
     outstanding positions for over-concentrations. While MLAI LLC does not
     itself intervene in the markets to hedge or diversify the Partnership's
     market exposure, MLAI LLC may urge JWH(R) to reallocate positions in an
     attempt to avoid over-concentration. However, such interventions are
     unusual. Except in cases in which it appears that JWH(R) has begun to
     deviate from past practice and trading policies or to be trading
     erratically, MLAI LLC's basic risk control procedures consist simply of the
     ongoing process of advisor monitoring, with the market risk controls being
     applied by JWH(R) itself.

     Credit Risk
     -----------

                                       5
<Page>

     The risks associated with exchange-traded contracts are typically perceived
     to be less than those associated with over-the-counter
     (non-exchange-traded) transactions, because exchanges typically (but not
     universally) provide clearinghouse arrangements in which the collective
     credit (in some cases limited in amount, in some cases not) of the members
     of the exchange is pledged to support the financial integrity of the
     exchange. In over-the-counter transactions, on the other hand, traders must
     rely solely on the credit of their respective individual counterparties.
     Margins, which may be subject to loss in the event of a default, are
     generally required in exchange trading, and counterparties may also require
     margin in the over-the-counter markets.

     The credit risk associated with these instruments from counterparty
     nonperformance is the net unrealized profit (loss) on open contracts, if
     any, included in the Consolidated Statements of Financial Condition. The
     Partnership attempts to mitigate this risk by dealing exclusively with
     Merrill Lynch entities as clearing brokers.

     The Partnership, in its normal course of business, enters into various
     contracts, with Merrill Lynch Pierce Fenner & Smith Inc. ("MLPF&S") acting
     as its commodity broker. Pursuant to the brokerage agreement with MLPF&S
     (which includes a netting arrangement), to the extent that such trading
     results in receivables from and payables to MLPF&S, these receivables and
     payables are offset and reported as a net receivable or payable and
     included in the Consolidated Statements of Financial Condition under Equity
     in commodity futures trading accounts.

Item 2:    Management's Discussion and Analysis of Financial Condition and
           ---------------------------------------------------------------
           Results of Operations
           ---------------------

                       MONTH-END NET ASSET VALUE PER UNIT
<Table>
<Caption>
           -------------------------------------------------------
                           Jan            Feb           Mar
           -------------------------------------------------------
<S>                      <C>            <C>           <C>
              2002       $168.42        $162.64       $154.17
           -------------------------------------------------------
              2003       $251.24        $269.78       $251.98
           -------------------------------------------------------
</Table>

     PERFORMANCE SUMMARY

     January 1, 2003 to March 31, 2003

     The Partnership experienced gains in the interest rate, energy, stock index
     and currency sectors and losses in the metals and agricultural commodity
     sectors. Overall, for the quarter, the Partnership experienced a positive
     rate of return of almost 15%.

     Interest rate futures were the best performers for the quarter. Interest
     rates continued to push lower as economic data for the fourth quarter
     announced an annual growth rate for the economy of about 1% for 2002.
     Consumer spending and confidence remained low and even the housing market
     stumbled in March. The global fixed income markets continued their upward
     climb until mid-March when expectations of a short conflict triggered the
     liquidation of many fixed income investments hurting long exposures.

     Energy was also a strong performer for the quarter. With the continuation
     of the strike in Venezuela, the tensions with Iraq and the cold winter,
     long positions in oil and natural gas were profitable in the beginning of
     the year. In February, the best performing month, natural gas prices rose
     nearly 40% in a single day citing expected severely cold weather and supply
     shortages. Prices plummeted within a week of the start of the war with
     Iraq, causing the loss of almost half of the profits earned in January and
     February.

     Trading in stock indices posted gains for each of the months in the
     quarter. European stock markets attempted to start the year with some
     optimism only to succumb to eroding prices throughout the quarter. Global
     economies suffered throughout the quarter, however in mid-March the
     equities market did react with

                                       6
<Page>

     the currency and fixed income markets. Equities appeared to be more in tune
     to the overall market fundamental and were quick to resume their downward
     trend.

     The currency forward and futures trading had gains for the quarter. The
     weakening U.S. dollar was continuing to decline as it has for over a year
     and the Partnership was well positioned to capitalize on its U.S dollar
     positions against other currencies. In March, on hopes that the war with
     Iraq would be short, the U.S. dollar strengthened and returned some of the
     profits earned early in the year.

     The metals sector had slight losses for the quarter. Gold drove profits in
     January as it continued its run up. The general perception of risks in the
     financial markets and the geopolitical situation unfolding was the main
     driver for the gold market in January. The Partnership sustained losses in
     February as the long bias in precious metals hurt the portfolio when gold
     reversed its rising trend in February with the announcement that the German
     Bundesbank had sold a portion of its gold reserves. Industrial metals
     markets were choppy throughout the quarter.

     Trading in agricultural commodities posted losses for the quarter. The
     Partnership held positions in sugar, corn, wheat, cocoa, coffee and the
     soybean complex. Agricultural trading represents about 5% of the
     Partnership's trading.

     January 1, 2002 to March 31, 2002

     Trading in the energy markets was profitable. Trading in natural gas and
     crude oil resulted in gains. All markets posted gains in March, as crude
     and Brent oil, gas oil, heating oil and unleaded gas produced profits.

     Metals trading was moderately profitable. The Japanese government announced
     that at the end of March they would no longer guarantee time deposits in
     excess of ten million yen. Concerned Japanese citizens purchased physical
     gold, causing a rally. Profits were realized in copper, zinc, nickel and
     silver as industrial demand in anticipation of a strong global economic
     recovery pushed prices higher.

     Losses were posted across the board in agricultural commodity trading.
     Soybean and sugar combined for the largest losses. The sector was flat by
     quarter end.

     Stock index trading was unprofitable as volatile conditions made it
     difficult to generate profits. Losses were realized in the Nikkei, DAX,
     Eurostoxx and NASDAQ indices.

     The interest rate sector sustained losses throughout the quarter. Optimism
     surrounding the Japanese government's proposed anti-deflation measures had
     a negative effect on Japanese government bonds. The sector as a whole was
     unprofitable, as U.S. and Japanese interest rate contracts were
     unprofitable.

     Significant losses occurred in the currency markets. The U.S. dollar
     weakened against major currencies, particularly the Japanese yen. The
     sector performed poorly, specifically the U.S. dollar/Japanese yen cross
     trades, as Japanese fiscal year-end considerations made trading extremely
     volatile. Positions in Swiss franc, Euro and British pound also turned in
     negative performances.

     Item 3. Quantitative and Qualitative Disclosures About Market Risk

     Not applicable


                                       7
<Page>

     Item 4. Controls and Procedures

     Merrill Lynch Alternative Investments LLC, formerly MLIM Alternative
     Strategies LLC, the General Partner of ML JWH Strategic Allocation Fund
     L.P., with the participation of the General Partner's Chief Executive
     Officer and the Chief Financial Officer, has evaluated the effectiveness of
     the design and operation of its disclosure controls and procedures with
     respect to the Partnership within 90 days of the filing date of this
     quarterly report, and, based on their evaluation, have concluded that these
     disclosure controls and procedures are effective. Additionally, there were
     no significant changes in the Partnership's internal controls or in other
     factors that could significantly affect these controls subsequent to the
     date of their evaluation, including any corrective actions with regard to
     significant deficiencies and material weaknesses.


                                       8
<Page>

                           PART II - OTHER INFORMATION

Item 1.   Legal Proceedings

          There are no pending proceedings to which the Partnership or MLAI LLC
          is a party.

Item 2.   Changes in Securities and Use of Proceeds

          (a) None.
          (b) None.
          (c) None.
          (d) The Partnership originally registered 2,000,000 units of limited
          partnership interest. The Partnership subsequently registered an
          additional 3,310,000 units of limited partnership interest. As of
          March 31, 2003, the Partnership has sold 4,054,996 units of limited
          partnership interest, with an aggregate price of $555,894,135.

Item 3.   Defaults Upon Senior Securities

          None.

Item 4.   Submission of Matters to a Vote of Security Holders

          None.

Item 5.   Other Information

          As of February 28, 2003, MLIM Alternative Strategies LLC changed its
          name to Merrill Lynch Alternative Investments LLC, as part of an
          internal Merrill Lynch reorganization. This change did not affect the
          personnel involved in the management of the Partnership.

Item 6.   Exhibits and Reports on Form 8-K.

          (a) Exhibits

          There are no exhibits required to be filed as part of this report.

Reports on Form 8-K.

          There were no reports on Form 8-K filed during the first three months
          of fiscal 2003.


                                       9
<Page>

                                   SIGNATURES

     Pursuant to the requirements of the Securities Exchange Act of 1934, the
     registrant has duly caused this report to be signed on its behalf by the
     undersigned thereunto duly authorized.




                             ML JWH STRATEGIC ALLOCATION FUND L.P.

                                 By: MERRIL LYNCH ALTERNATIVE
                                     INVESTMENTS  LLC
                                     (General Partner)




Date:  May 15, 2003          By  /s/ ROBERT M. ALDERMAN
                                 ----------------------
                                 Robert M. Alderman
                                 Chairman, Chief Executive Officer and Manager
                                 (Principal Executive Officer)




Date:  May 15, 2003          By /s/ MICHAEL L. PUNGELLO
                                -----------------------
                                Michael L. Pungello
                                Vice President, Chief Financial Officer
                                and Treasurer
                                (Principal Financial and Accounting Officer)


                                       10
<Page>

                                   EXHIBIT 99

          Form of Certification Pursuant to Section 1350 of Chapter 63
          ------------------------------------------------------------
                     of Title 180 of the United States Code
                     --------------------------------------

I, Robert M. Alderman, certify that:

1. I have reviewed this quarterly report on Form 10-Q of ML JWH Strategic
Allocation Fund L.P.;

2. Based on my knowledge, this quarterly report does not contain any untrue
statement of a material fact or omit to state a material fact necessary to make
the statements made, in light of the circumstances under which such statements
were made, not misleading with respect to the period covered by this quarterly
report;

3. Based on my knowledge, the financial statements, and other financial
information included in this report, fairly present in all material respects the
financial condition, results of operations and cash flows of the registrant as
of, and for, the periods presented in this quarterly report;

4. The registrant's other certifying officers and I are responsible for
establishing and maintaining disclosure controls and procedures (as defined in
Exchange Act Rules 13a-14 and 15d-14) for the registrant and have:

     a) designed such disclosure controls and procedures to ensure that material
     information relating to the registrant, including its consolidated
     subsidiaries, is made known to us by others within those entities,
     particularly during the period in which this quarterly report is being
     prepared;

     b) evaluated the effectiveness of the registrant's disclosure controls and
     procedures as of a date within 90 days prior to the filing date of this
     quarterly report (the "Evaluation Date"); and

     c) presented in this quarterly report our conclusions about the
     effectiveness of the disclosure controls and procedures based on our
     evaluation as of the Evaluation Date;

5. The registrant's other certifying officers and I have disclosed, based on our
most recent evaluation, to the registrant's auditors and the audit committee of
registrant's board of directors (or persons performing the equivalent
functions):

     a) all significant deficiencies in the design or operation of internal
     controls which could adversely affect the registrant's ability to record,
     process, summarize and report financial data and have identified for the
     registrant's auditors any material weaknesses in internal controls; and

     b) any fraud, whether or not material, that involves management or other
     employees who have a significant role in the registrant's internal
     controls;

6. The registrant's other certifying officers and I have indicated in this
quarterly report whether there were significant changes in internal controls or
in other factors that could significantly affect internal controls subsequent to
the date of our most recent evaluation, including any corrective actions with
regard to significant deficiencies and material weaknesses.

Date: May 15, 2003

-------------------------
By /s/ ROBERT M. ALDERMAN
   ----------------------
Robert M. Alderman
Chairman, Chief Executive Officer and Manager
(Principal Executive Officer)


                                       11
<Page>

                                 EXHIBIT 99 (a)

                                 AS ADOPTED TO
                                 -------------
                  SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002
                  ---------------------------------------------

In connection with this quarterly report of ML JWH Strategic Allocation Fund
L.P. on Form 10-Q for the period ended March 31, 2003 as filed with the
Securities and Exchange Commission on the date hereof, I, Robert M. Alderman,
certify, pursuant to 18 U.S.C. Section 1350, as adopted pursuant of the
Sarbanes-Oxley Act of 2002, that:

1. This quarterly report fully complies with the requirements of Section 13 or
15(d) of the Securities and Exchange Act of 1934; and

2. The information contained in this quarterly report fairly presents, in all
material respects, the financial condition and results of operations of ML JWH
Strategic Allocation Fund L.P.

Date: May 15, 2003

-----------------------
By /s/ ROBERT M. ALDERMAN
   ----------------------
Robert M. Alderman
Chairman, Chief Executive Officer and Manager
(Principal Executive Officer)


                                       12
<Page>

                                   EXHIBIT 99

          Form of Certification Pursuant to Section 1350 of Chapter 63
          ------------------------------------------------------------
                     of Title 180 of the United States Code
                     --------------------------------------

I, Michael L. Pungello, certify that:

1. I have reviewed this quarterly report on Form 10-Q of ML JWH Strategic
Allocation Fund L.P.;

2. Based on my knowledge, this quarterly report does not contain any untrue
statement of a material fact or omit to state a material fact necessary to make
the statements made, in light of the circumstances under which such statements
were made, not misleading with respect to the period covered by this quarterly
report;

3. Based on my knowledge, the financial statements, and other financial
information included in this report, fairly present in all material respects the
financial condition, results of operations and cash flows of the registrant as
of, and for, the periods presented in this quarterly report;

4. The registrant's other certifying officers and I are responsible for
establishing and maintaining disclosure controls and procedures (as defined in
Exchange Act Rules 13a-14 and 15d-14) for the registrant and have:

     a) designed such disclosure controls and procedures to ensure that material
     information relating to the registrant, including its consolidated
     subsidiaries, is made known to us by others within those entities,
     particularly during the period in which this quarterly report is being
     prepared;

     b) evaluated the effectiveness of the registrant's disclosure controls and
     procedures as of a date within 90 days prior to the filing date of this
     quarterly report (the "Evaluation Date"); and

     c) presented in this quarterly report our conclusions about the
     effectiveness of the disclosure controls and procedures based on our
     evaluation as of the Evaluation Date;

5. The registrant's other certifying officers and I have disclosed, based on our
most recent evaluation, to the registrant's auditors and the audit committee of
registrant's board of directors (or persons performing the equivalent
functions):

     a) all significant deficiencies in the design or operation of internal
     controls which could adversely affect the registrant's ability to record,
     process, summarize and report financial data and have identified for the
     registrant's auditors any material weaknesses in internal controls; and

     b) any fraud, whether or not material, that involves management or other
     employees who have a significant role in the registrant's internal
     controls;

6. The registrant's other certifying officers and I have indicated in this
quarterly report whether there were significant changes in internal controls or
in other factors that could significantly affect internal controls subsequent to
the date of our most recent evaluation, including any corrective actions with
regard to significant deficiencies and material weaknesses.

Date: May 15, 2003

--------------------------
By /s/ MICHAEL L. PUNGELLO
   -----------------------
Michael L. Pungello
Vice President, Chief Financial Officer
and Treasurer
(Principal Financial and Accounting Officer)


                                       13
<Page>

                                 EXHIBIT 99 (a)

                                 AS ADOPTED TO
                                 -------------
                  SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002
                  ---------------------------------------------

In connection with this quarterly report of ML JWH Strategic Allocation Fund
L.P. on Form 10-Q for the period ended March 31, 2003 as filed with the
Securities and Exchange Commission on the date hereof, I, Michael L. Pungello,
certify, pursuant to 18 U.S.C. Section 1350, as adopted pursuant of the
Sarbanes-Oxley Act of 2002, that:

1. This quarterly report fully complies with the requirements of Section 13 or
15(d) of the Securities and Exchange Act of 1934; and

2. The information contained in this quarterly report fairly presents, in all
material respects, the financial condition and results of operations of ML JWH
Strategic Allocation Fund L.P.

Date: May 15, 2003
--------------------------
By /s/ MICHAEL L. PUNGELLO
   -----------------------
Michael L. Pungello
Vice President, Chief Financial Officer
and Treasurer
(Principal Financial and Accounting Officer)


                                       14