`SECURITIES AND EXCHANGE COMMISSIONWashington, D.C. 20549FORM 10-Q

 Quarterly report pursuant to Section 13 or 15 (d) of the Securities Exchange
                                   Act of 1934For the quarterly period ended March 31, 2002Commission File Number 333-33937JWH GLOBAL TRUST
           (Exact name of registrant as specified in its charter)Delaware                          36-4113382
              (State or other jurisdiction of (I.R.S. Employer
              incorporation or organization) Identification #)233 South Wacker Drive, Suite 2300, Chicago, IL 60606
             (Address of principal executive offices) (Zip Code)Registrant's telephone number, including area code: (312) 460-4000


Not Applicable
(Former  name,  former  address and former fiscal year, if changed since last
report.)

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`

`Item 1.  Financial Statements

Following are Financial Statements for the fiscal quarter ended March 31, 2002 and the additional time frames as noted:

                                        Fiscal Quarter   Year to Date      Fiscal Year     Fiscal Quarter    Year to Date
                                        Ended 3/31/02    Ended 3/31/02    Ended 12/31/01   Ended 3/31/01     Ended 3/31/01


Statement of Financial Condition             X                                 X

Statement of Operations                      X                X                                 X                 X

Statement of Changes in Partners'
Capital                                                       X

Notes to Financial Statements                X`

`JWH GLOBAL TRUST
                                  STATEMENTS OF FINANCIAL CONDITION
                                              UNAUDITEDMar 31, 2002    Dec 31, 2001


Assets

  Equity in commodity trading accounts:
    Cash on deposit with Brokers                                    43,334,039      46,976,650
    Unrealized gain (loss) on open contracts                           112,038       2,557,319

                                                                    43,446,077      49,533,969

  Receivable for units sold                                            775,665         618,077
  Interest receivable                                                   68,305          70,569
  Prepaid initial organization and offering costs                       22,029          55,072

Total Assets                                                        44,312,076      50,277,687

Liabilities and Unitholders' Capital
Liabilities:
  Accrued commissions on open contracts due to CIS                     232,870         265,856
  Accrued management fees                                               72,508          82,703
  Accrued incentive fees                                                     0               0
  Accrued operating expenses                                            52,694          60,000
  Accrued offering expenses                                             17,996          20,526
  Redemptions payable                                                  764,599         313,509

Total liabilities                                                    1,140,665         742,594

Unitholders' capital:
  Beneficial owners ( 436,951.05 and 438,008.69 units outstanding at
    March 31, 2002 and December 31, 2001, respectively)             42,610,248      48,892,753
  Managing owner (5,754.50 units outstanding at
    March 31, 2002 and December 31, 2001)                              561,163         642,340

Total unitholders' capital                                          43,171,411      49,535,093

Total liabilities and unitholders' capital                         $44,312,076     $50,277,687

Net Asset Value per Unit                                                $97.52         $111.63

See accompanying notes to financial statements.`

`JWH GLOBAL TRUST
                                                    STATEMENTS OF OPERATIONS
                                                           UNAUDITEDJan 1, 2002    Jan 1, 2002    Jan 1, 2001     Jan 1, 2001
                                                                     through        through        through         through
                                                                   Mar 31, 2002   Mar 31, 2002   Mar 31, 2001    Mar 31, 2001

Revenues:
  Gain (loss) on trading of commodity contracts:
    Realized gain (loss) on closed positions                       ($2,866,784)   ($2,866,784)   $10,968,402    $10,968,402
    Change in unrealized gain (loss) on open positions              (2,445,281)    (2,445,281)    (4,550,721)    (4,550,721)
  Interest Income                                                      193,384        193,384        563,889        563,889
  Foreign currency transaction gain (loss)                             (30,378)       (30,378)       112,555        112,555

Total revenues                                                      (5,149,059)    (5,149,059)     7,094,125      7,094,125

Expenses:
  Commission paid to CIS                                              $745,397       $745,397       $828,612       $828,612
  Exchange, clearing and NFA fees                                        4,985          4,985          6,416          6,416
  Management fees                                                      231,226        231,226        257,364        257,364
  Incentive fees                                                             0              0        990,171        990,171
  Amortization of prepaid initial organization and offering costs       33,043         33,043         33,043         33,043
  Ongoing organization and offering expenses                            57,384         57,384         63,456         63,456
  Operating expenses                                                    14,882         14,882         15,000         15,000

Total expenses                                                       1,086,917      1,086,917      2,194,062      2,194,062

Net profit (loss)                                                  ($6,235,975)   ($6,235,975)    $4,900,063     $4,900,063

Profit (loss) per unit of beneficial ownership interest                ($14.11)       ($14.11)        $11.68         $11.68
Profit (loss) per unit of managing ownership interest                  ($14.11)       ($14.11)        $11.68         $11.68

See accompanying notes to financial statements.`

`JWH GLOBAL TRUST
                                         STATEMENT OF CHANGES IN UNITHOLDERS' CAPITAL
                                          From January 1, 2002 through March 31, 2002
                                                           UNAUDITEDBeneficial       Managing
                                                          Units*            Owners          Owner            Total

Unitholders' capital at January 1, 2002                438,008.69       $48,892,753       $642,340        $49,535,093

Net profit (loss)                                                        (6,154,798)       (81,177)        (6,235,975)

Unitholders' contributions                              17,137.84         1,745,995              0          1,745,995

Unitholders' redemptions                               (18,195.48)       (1,873,703)             0         (1,873,703)

Unitholders' capital at March 31, 2002                 436,951.05       $42,610,248       $561,163        $43,171,411

Net asset value per unit January 1, 2002                                     111.63         111.63

Net profit (loss) per unit                                                   (14.11)        (14.11)

Net asset value per unit March 31, 2002                                      $97.52         $97.52

*Units of Beneficial Ownership.

See accompanying notes to financial statements.`

`JWH GLOBAL TRUST
                        NOTES TO FINANCIAL STATEMENTS
                               March 31, 2002(1)     General Information and Summary

        JWH Global Trust (the Trust),  a Delaware  business  trust  organized
        on  November  12,  1996,  was  formed to  engage  in the  speculative
        trading of futures  contracts on currencies,  interest rates,  energy
        and  agricultural  products,  metals  and  stock  indices,  spot  and
        forward  contracts on currencies and precious  metals,  and exchanges
        for physicals  pursuant to the trading  instructions  of  independent
        trading   advisors.   The   Managing   Owner  of  the  Trust  is  CIS
        Investments,  Inc.  (CISI).  The clearing broker is Cargill  Investor
        Services,  Inc.  (Clearing  Broker or CIS),  the  parent  company  of
        CISI.  The broker for forward  contracts is CIS  Financial  Services,
        Inc. (CISFS or Forward  Currency  Broker),  an affiliate of CISI. The
        Clearing Broker and the Forwards  Currency  Broker will  collectively
        be referred to as the Brokers.

        Units of  beneficial  ownership  of the Trust  commenced  selling  on
        April 3,  1997 and trading began on June 2, 1997.  The initial amount
        offered for investment was $50,000,000.  On  September 26,  1997, the
        Trust registered an additional  $155,000,000  for further  investment
        and  continued   the  offering.   By  March  31,  2002,  a  total  of
        1,144,768.25  units  representing  an investment for  $120,658,199 of
        beneficial   ownership   interest  had  been  sold  in  the  combined
        offerings.  In addition,  during the  offerings,  the Managing  Owner
        purchased  a  total  of   8,602.73   units,   representing   a  total
        investment  of  $885,058.  See the JWH Global  Trust  prospectus  for
        further details of the offering.

        The Trust will be  terminated  on  December 31,  2026, if none of the
        following  occur prior to that date:  (1)  beneficial  owners holding
        more than 50% of the  outstanding  units notify the Managing Owner to
        dissolve the Trust as of a specific date; (2)  disassociation  of the
        Managing  Owner with the Trust;  (3)  bankruptcy of the Trust;  (4) a
        decrease in the Net Asset Value  (NAV) to less than  $2,500,000;  (5)
        a  decline  in the NAV per unit to $50 or less;  (6)  dissolution  of
        the  Trust;  or (7) any event that  would  make it  unlawful  for the
        existence  of the Trust to be  continued  or require  dissolution  of
        the Trust.(2)     Summary of Significant Accounting Policies

        The  accounting  and  reporting  policies  of the  Trust  conform  to
        accounting  principles  generally  accepted  in the United  States of
        America and to general  practices in the  commodities  industry.  The
        following  is  a  description  of  the  more   significant  of  those
        policies   that  the  Trust   follows  in  preparing   its  financial
        statements.

        Revenue Recognition

        Commodity   futures   contracts,    forward    contracts,    physical
        commodities,  and  related  options  are  recorded on the trade date.
        All such  transactions  are recorded on the identified cost basis and
        marked  to  market  daily.   Unrealized  gains  and  losses  on  open
        contracts   reflected  in  the  statements  of  financial   condition
        represent  the  difference   between  original  contract  amount  and
        market  value  (as  determined  by  exchange  settlement  prices  for
        futures  contracts  and related  options and cash dealer  prices at a
        predetermined time for forward contracts,  physical commodities,  and
        their  related  options) as of the last  business  day of the year or
        as of the last date of the financial statements.

        The Trust  earns  interest on its assets on deposit at the Brokers at
        100% of the 91-day  Treasury  bill rate for deposits  denominated  in
        US  dollars,  and at the rates  agreed  between the Trust and CIS and
        CISFS for deposits denominated in other currencies.

        Redemptions

        A  beneficial  owner  may  cause any or all of his or her units to be
        redeemed  by the Trust  effective  as of the last  trading day of any
        month of the Trust  based on the NAV per unit on five  days'  written
        notice  to the  Managing  Owner.  Payment  will  be made  within  ten
        business  days  of  the  effective  date  of  the   redemption.   Any
        redemption  made during the first 11 months of  investment is subject
        to a 3% redemption  penalty.  Any  redemption  made in the 12th month
        of  investment  or later  will not be  subject  to any  penalty.  The
        Trust's  Amended and  Restated  Declaration  and  Agreement  of Trust
        contains a full description of redemption and distribution policies.

        Organizational and Offering Costs

        Initial  organizational  and offering costs advanced to the Trust are
        being  amortized over the first 60 months of the Trust's  operations,
        subject to a maximum  monthly  payment of 1/60 of 2% of the month-end
        net  assets.  Ongoing  offering  costs,  subject to a ceiling of 0.5%
        of the Trust's  average  month-end net assets,  are paid by the Trust
        and expensed as incurred.

        Commissions

        Commodity  brokerage  commissions  are typically  paid for each trade
        transacted  and are referred to as  "round-turn  commissions."  These
        commissions  cover  both  the  initial  purchase  (or  sale)  and the
        subsequent  offsetting  sale (or  purchase)  of a  commodity  futures
        contract.  The Trust does not pay commodity brokerage  commissions on
        a per-trade basis, but rather pays monthly  flat-rate  Brokerage Fees
        at the  annual  rate  of 6.5%  (or a  monthly  rate of  approximately
        0.542%) of the Trust's  average  month-end  assets after reduction of
        the Management  Fee. CIS receives these  Brokerage Fees  irrespective
        of the number of trades  executed on the Trust's  behalf.  The amount
        paid to CIS is reduced by exchange fees paid by the Trust.

        Certain  large  investors  are eligible for a "Special  Brokerage Fee
        Rate"  of 5% per  year.  As of March  31,  2002,  there  were no such
        eligible investors in the Trust.

        Foreign Currency Transactions

        Trading  accounts in foreign currency  denominations  are susceptible
        to both  movements  in the  underlying  contract  markets  as well as
        fluctuation  in currency  rates.  Translation  of foreign  currencies
        into US dollars for closed  positions  are  translated  at an average
        exchange rate for the year,  while  year-end  balances are translated
        at the year-end  currency  rates.  The impact of the  translation  is
        reflected in the statements of operations.

        Use of Estimates

        The  preparation  of  financial  statements  are in  conformity  with
        accounting  principles  generally  accepted  in the United  States of
        America which requires  management to make estimates and  assumptions
        that  affect  the  reported  amounts of assets  and  liabilities  and
        disclosure of contingent  assets and  liabilities  at the date of the
        financial  statements  and  the  reported  amounts  of  revenues  and
        expenses  during the reporting  period.  Actual  results could differ
        from those estimates.(3)     Fees

        Management  fees are accrued  and paid  monthly,  incentive  fees are
        accrued  monthly  and  paid  quarterly.  Trading  decisions  for  the
        period of these  financial  statements  were made by John W.  Henry &
        Company,  Inc. (JWH)  utilizing  three of its trading  programs,  the
        JWH  GlobalAnalytics(R)Family of Programs,  the  Financial and Metals
        Portfolio, and the G-7 Currency Portfolio.

        Under  signed  agreement,  JWH received a monthly  management  fee of
        1/12 of 2% of the month-end  net assets after  deduction of a portion
        of the  Brokerage  Fee at an annual rate of 1.25% of month-end  Trust
        asset but  before  deduction  of any  management  fees,  redemptions,
        distributions,  or  incentive  fee  accrued  or  payable  as  of  the
        relevant month end.(4)     Income Taxes

        No  provision  for  Federal   income  taxes  has  been  made  in  the
        accompanying   financial  statements  as  each  beneficial  owner  is
        responsible  for reporting  income (loss) based on the pro rata share
        of the profits or losses of the Trust.  Generally,  for both  Federal
        and state tax purposes,  trusts,  such as the JWH Global  Trust,  are
        treated as  partnerships.  The Trust is responsible  for the Illinois
        State  Partnership  Information  and  Replacement  Tax  based  on the
        operating  results  of the  Trust.  Such tax  amounted  to $0 for the
        quarters  ended  March 31, 2002 and March 31,  2001,  and is included
        in operating expenses in the statement of operations.(5)     Financial Instruments with Off-balance Sheet Risk

        The Trust  engages in the  speculative  trading of U.S.  and  foreign
        futures contracts, and forward contracts (collectively  derivatives).
        These derivatives include both financial and non-financial  contracts
        held as part of a diversified trading strategy.  The Trust is exposed
        to both market  risk,  the risk  arising  from  changes in the market
        value of the  contracts;  and  credit  risk,  the risk of  failure by
        another party to perform according to the terms of a contract.

        The  purchase and sale of futures  requires  margin  deposits  with a
        Futures  Commission  Merchant  (FCM).   Additional  deposits  may  be
        necessary for any loss on contract value. The Commodity  Exchange Act
        (CE Act) requires an FCM to segregate all customer  transactions  and
        assets from the FCM's proprietary  activities.  A customer's cash and
        other  property such as U.S.  Treasury  Bills,  deposited with an FCM
        are  considered  commingled  with all other customer funds subject to
        the  FCM's  segregation  requirements.  In  the  event  of  an  FCM's
        insolvency,   recovery  may  be  limited  to  a  pro  rata  share  of
        segregated funds available.  It is possible that the recovered amount
        could be less than the total of cash and other property deposited.

        The Trust has cash on  deposit  with an  affiliate  interbank  market
        maker in  connection  with its trading of forward  contracts.  In the
        event of interbank market maker's  insolvency,  recovery of the Trust
        assets on  deposit  may be  limited  to  account  insurance  or other
        protection afforded such deposits.  In the normal course of business,
        the Trust does not  require  collateral  from such  interbank  market
        maker.  Because forward  contracts are traded in unregulated  markets
        between  principals,  the Trust also assumes a credit risk,  the risk
        of loss from counter party non-performance.

        For derivatives,  risks arise from changes in the market value of the
        contracts.  Theoretically,  the  Trust is  exposed  to a market  risk
        equal to the value of futures and  forward  contracts  purchased  and
        unlimited liability on such contracts sold short.

        Net trading results from  derivatives for the quarter ended March 31,
        2002 and 2001,  are  reflected  in the  statement of  operations  and
        equal gains  (losses) from trading less brokerage  commissions.  Such
        trading  results  reflect  the net  gain  arising  from  the  Trust's
        speculative trading of futures contracts, and forward contracts.

        The  notional  amounts  of open  contracts  at  March  31,  2002,  as
        disclosed  in the  Schedule  of  Investments,  do not  represent  the
        Trust's  risk of loss due to  market  and  credit  risk,  but  rather
        represent the Trust's  extent of  involvement  in  derivatives at the
        date of the statement of financial condition.(6)     Financial Statement Preparation

        The  interim  financial  statements  are  unaudited  but  reflect all
        adjustments  that are, in the opinion of management,  necessary for a
        fair  statement  of the results for the  interim  periods  presented.
        These  adjustments  consist  primarily of normal recurring  accruals.
        These  interim  financial  statements  should be read in  conjunction
        with the  audited  financial  statements  of the  Trust  for the year
        ended  December 31, 2001, as filed with the  Securities  and Exchange
        Commission  on March 29, 2002,  as part of its Annual  Report on Form
        10-K.

        The results of  operations  for interim  periods are not  necessarily
        indicative  of the  operating  results to be expected  for the fiscal
        year.(7)     Financial Highlights

        The following financial  highlights show the Partnership's  financial
        performance  for the period  ended March 31,  2002.  Total  return is
        calculated  as  the  change  is  a  theoretical   beneficial  owner's
        investment over the entire period.  Total return is calculated  based
        on the aggregate return of the Partnership taken as a whole.

       Total return                                          (12.64)%

       Ratio to average net assets:
           Net loss                                          (13.51)%

           Expenses:
             Expenses                                          2.36
             Incentive fees                                    0.00

                     Total expenses                            2.36%

        The net investment income and operating  expenses ratios are computed
        based upon the weighted  average net assets for the  Partnership  for
        the period  ended March 31,  2002.  Ratios do not  reflect  income or
        expenses related to investment in other commodity pools.`

`JWH GLOBAL TRUST
                                            Schedule of Investments
                                                 March 31, 2002Number of       Principal           Value (OTE)
                                                    contracts       (notional)
Long positions
Futures positions (0.57%)
Agriculture                                            209      $    3,258,554               55,016
Energy                                                 184           4,570,950              169,970
Interest rates                                          33          34,327,207              126,441
Metals                                                 298           9,637,251               52,789
Indices                                                 76           5,817,624             (159,665)
                                                                    57,611,586              244,551
Forward positions (0.41%)
Currencies                                              31         176,569,305              178,849
     Total long positions                                         $234,180,891              423,400

Short positions
Futures positions (1.62%)
Agriculture                                            128      $    1,147,647                1,744
Energy                                                   0                   0                    0
Interest rates                                       2,242         287,891,638              741,424
Metals                                                  95           3,440,031              (42,528)
Indices                                                  0                   0                    0
                                                                   292,479,316              700,640
Forward positions (-2.34%)
Currencies                                              18         177,402,457           (1,012,002)
     Total short positions                                      $  469,881,773             (311,362)

Total open contracts (0.26%)                                                         $      112,038
Cash on deposit with brokers (100.38%)                                                   43,334,039
Other assets in excess of liabilities (-0.64%)                                             (274,666)
Net assets (100%)                                                                    $   43,171,411`

`Item 2.  Management's  Discussion  and  Analysis of Financial  Condition  and
Results of Operation

Fiscal Quarter Ended March 31, 2002

The  Trust  recorded  a loss of  6,235,975  or  $14.11  per unit in the first
quarter  of  2002.  As of March  31,  the  Trust  has lost  2.48%  since  its
inception in June 1997.

All three months of the quarter were  unprofitable  for Trust  investors.  On
March 31, 2002,  JWH was managing 100% of the Trust's  assets.  Approximately
30% of the assets were allocated to each of the JWH  GlobalAnalytics(R)Family
of  Programs  and  the  G-7  Currency  Portfolio.  Approximately  40%  of the
Trust's assets were allocated to JWH's Financial and Metals Portfolio.

In January,  performance  was  positive in the  currency  and energy  sectors
while  interest  rate,  metal,  stock  index  and  commodity  markets  posted
losses.  The most  significant  gains came from the currency sector where the
Japanese  Yen  continued  to  lose  value.   This  was  beneficial  to  Trust
investors  because the short Yen position  was the largest in the  portfolio.
Trading in all other  currency  markets was negative.  The Enron news created
a "flight to  quality"  situation  which led to higher US and  European  bond
prices.  These news items and others  ceased the  selling  activity in global
bonds and caused  losses in the Trust's  interest  rate long  positions.  The
energy  sector  posted a very small gain as short  positions  in natural  gas
exceeded  losses taken in all other energy  markets.  Precious metals rallied
sharply for the first time in months.  Initially  this was  negative  for the
Trust.  However,  by  month  end,  a long  position  was  taken  and the loss
absorbed  earlier in the month was lessened.  Overall,  the Trust  recorded a
loss of $793,776 or $1.79 per unit in January.

During  February,  fluctuating  price  patterns  continued  which  led  to  a
difficult  month for the Trust.  The key element in the  Trust's  performance
was the  trend  reversals  in the  Japanese  financial  markets.  The  Nikkei
(stock index),  Japanese  government bonds and the Yen accounted for over one
half of the  losses in the  portfolio.  Losses in the  currency  sector  also
occurred  in the British  pound,  Swiss  franc and Euro.  As earlier  stated,
trading in Japanese  government  bonds was  negative as was trading in US and
Euro  denominated  bond  markets.  Performance  in the energy sector was also
unprofitable.  Short  positions  in  crude  oil,  natural  gas  and  gasoline
suffered as prices rose.  Gold prices  continued to rise,  which  allowed the
metal sector to be positive in February.

During  late  February,  CIS  Securities,  Inc.  replaced  CIS as JWH  Global
Trust's Lead Selling  Agent.  This change will not have a material  effect on
the business of the Trust.  The Trust  recorded a loss of $2,702,058 or $6.13
per Unit in February.

March was another  disappointing month.  Positive returns from the energy and
interest  rate sectors  were  overpowered  by losses in the currency  sector,
specifically  in the Yen where  Japanese  corporations  spurred a rally  when
they actively repatriated Yen for year-end accounting  purposes.  This proved
to be  detrimental  for the  Trust's  short  Yen  position.  The  balance  of
interest  rate  trading  amounted  to  additional   losses.  The  energy  and
interest rate sectors each posted gains.  Profits  accrued in short positions
in Euro  denominated  markets  outweighed  losses in Japanese  bond  markets.
Nearly all markets in the metals sector were  positive.  However,  gains were
small  due to small  position  sizes  and  small  price  changes.  The  Trust
recorded a loss of $2,740,141 or $6.19 per unit in March.

During the quarter there were 17,137.84  units sold to the Beneficial  Owners
for an  investment  of  $1,745,995.  Beneficial  Owners  redeemed  a total of
18,195.48  units during the quarter.  The Managing  Owner redeemed a total of
0 units during the quarter.  At the end of the quarter there were  436,951.05
units   outstanding  owned  by  the  Beneficial  Owners  and  5,754.50  units
outstanding owned by the Managing Owner.

During the fiscal  quarter  ending March 31, 2002,  the Trust had no material
credit exposure to a counter-party  which is a foreign commodity  exchange or
to any counter parties dealing in over the counter contracts.

Fiscal Quarter Ended March 31, 2001

The Trust  recorded  a gain of  $4,900,063  or  $11.68  per unit in the first
quarter  of  2001.  As of  March  31,  the  Trust  has  gained  26.27%  since
inception.

All three  months of the quarter  were  profitable  for Trust  investors.  On
March 31, 2001,  JWH was managing 100% of the Trust's  assets.  Approximately
30% of the assets were allocated to each of the JWH  GlobalAnalytics(R)Family
of Programs and the G-7  Portfolio.  Approximately  40% of the Trust's assets
were allocated to JWH's Financial and Metals Portfolio.

In early  January,  the  interest  rate and  currency  sectors  continued  to
accrue  profits  as they  had in the  fourth  quarter  of 2000.  However,  by
midmonth,   these  markets  began  to  consolidate  and  move  against  their
long-term  trends.  The  single  most  profitable  position  in  the  Trust's
portfolio  was short  Japanese  yen.  Long  positions  in the Euro and the US
dollar  against  the Yen  offset  losses in other  currency  markets.  In the
interest rate sector,  the Trust's long bond  positions in various  countries
around the world remained the  cornerstone of the portfolio.  Smaller profits
were produced in almost every  geographic area with European  markets leading
the way.  Crude  and  heating  oil  prices  bounced  about  in a  featureless
pattern.  The metal  sector  showed  signs of breaking  out of its  prolonged
down  trend as  silver,  copper  and  aluminum  rallied  sharply.  The  Trust
recorded a gain of $853,853 or $1.95 per unit in January.

During  February,  the Bank of Japan once again  adopted a policy of reducing
interest  rates as  Japan's  economic  recovery  stalled.  This  allowed  the
Trust's long  positions  in Japanese  bonds to greatly  appreciate  in value.
Smaller gains were made in long  positions in U.S.,  German,  Great  Britain,
and  Australian   interest   rates.   Trading  in  European   currencies  was
negative.  Both the Euro and Swiss franc traded in erratic  patterns for much
of the month,  which more than offset the gains made in the Yen.  OPEC agreed
to cut  output  by 1.5  million  barrels  a day in order to  support  prices.
However,  the slowing of global economies  counteracted this decrease leading
to an  unprofitable  trading  environment  for the  Trust.  By the end of the
month,  the Trust all but  exited  the energy  sector.  The Trust  recorded a
gain of $43,430 or $0.11 per unit in February.

In March,  the Trust  continued  its  positive  performance.  Despite a trend
interruption  late in the month,  trading  in the  interest  rate  sector was
positive  in March  with some  geographic  areas  dramatically  outperforming
others.  The Bank of Japan's  decision to  stimulate  Japan's  economy at all
costs  hastened  the decline of  Japanese  interest  rates which  allowed the
Trust's  long  Japanese  bond  positions  to be the  most  profitable  in the
portfolio.  Gloomy  growth  outlooks  for Europe and Great  Britain  directed
interest  rates  lower  which  was  profitable  for  the  Trust.  Conversely,
trading in U.S. interest rates was negative.  The currency sector,  which had
been up dramatically  since September,  continued its stellar  performance in
March.  The unyielding  strength of the US dollar versus the Japanese yen was
the cornerstone of the sector's  performance.  The Yen lost  approximately 8%
to the US dollar in March and approximately  17% since September.  Gains also
accrued in long US dollar  positions  against the Swiss franc and  Australian
dollar.  Trading in the US dollar versus the Euro was slightly  negative.  As
had been  the  case for  several  months,  position  sizes in the  commodity,
metal,  energy and stock index  sectors were quite small due to lack of price
trends.  The  Trust  recorded  a gain of  $4,002,780  or  $9.62  per  unit in
March.

During the quarter there were 13,100.23  units sold to the Beneficial  Owners
for an  investment  of  $1,594,086.  Beneficial  Owners  redeemed  a total of
30,535.95  units during the quarter.  The Managing  Owner redeemed a total of
949.41  units  during  the  quarter.  At the end of the  quarter  there  were
413,329.66  units  outstanding  owned by the  Beneficial  Owners and 5,754.50
units outstanding owned by the Managing Owner.

During the fiscal  quarter  ending March 31, 2001,  the Trust had no material
credit exposure to a counter-party  which is a foreign commodity  exchange or
to any counter parties dealing in over the counter contracts.Item 3. Quantitative and Qualitative Disclosures About Market Risk

         There has been no material change with respect to market risk  since
         the "Quantitative and Qualitative Disclosures About Market Risk" was
         made in the Form 10-K of the Trust dated December 31, 2001.Part II.  OTHER INFORMATIONItem 1.  Legal Proceedings

         The Trust  and  its  affiliates may  from time to time be parties to
         various legal actions arising in the normal course of business.  The
         Managing Owner believes that there are no proceedings threatened  or
         pending  against  the  Trust  or  any  of its  affiliates  which, if
         determined adversely,  would have a material  adverse  effect on the
         financial condition or results of operations of the Trust.

Item 2.  Changes in Securities

         None

Item 3.  Defaults Upon Senior Securities

         None

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

         None

Item 5.  Other Information

         None

Item 6.  Exhibits and Reports on Form 8-K

         a)   Exhibits

              None

         b)   Reports on Form 8-K

              NoneSIGNATURES


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 and thereunto duly authorized.


JWH GLOBAL TRUST

Date:  May 8, 2002
By:    CIS Investments, Inc.,
       its Managing Owner

By:/s/ Shaun D. O'Brien
       Shaun D. O'Brien
       Vice President, CFO and Treasurer

(Duly  authorized  officer of the Managing Owner and the Principal  Financial
Officer of the Managing Owner)`