Swiss Franc Daily Hedged Copper
|Replication method||Synthetic - fully funded collateralised swap|
|Legal form||Debt security|
|Securities regulator||Financial Conduct Authority (FCA UK)|
|Key Service Providers|
|Trustee||The Law Debenture Trust Corporation p.l.c.|
|Issuer||Swiss Commodity Securities Limited|
|Registrar||Computershare Investor Services (Jersey) Ltd|
|Collateral manager||The Bank of New York Mellon|
|Counterparty||Citigroup Global Markets Limited, Merrill Lynch Commodities Inc.|
|Entry / Exit fees||None when traded on Exchange|
Listings & Codes
|Listings & Codes|
The above chart presents information about the difference between the daily market price for shares of the Fund and the Fund's net asset value. The market price is determined using the midpoint between the highest bid and the lowest offer on the listing exchange, as of the time that the Fund's NAV is calculated (usually 4:00 p.m. eastern time for most Funds). The vertical axis of the chart shows the premium or discount expressed as a percentage of mid-point.
† Source: Bloomberg, all data delayed at least 15 minutes.
Note: Volume is the number of securities traded on the relevant Exchange. Estimated value of securities traded (volume x Last price). For the purposes of showing the total turnover, we convert the turnover for each product from its trading currency into USD using a standard end-of-day benchmark exchange rate.
Bloomberg Copper Subindex Swiss Franc Hedged Daily Total Return
The Index is designed to reflect the movement in the price of the Copper futures contracts (that are continuously rolled on a pre-determined rolling schedule) used in the Bloomberg Commodity IndexSM as well as incorporating a currency hedge against movements in the CHF/USD exchange rate. The currency hedge is rebalanced daily. A futures contract is an agreement to purchase a commodity at an agreed price, with delivery and payment to take place at a specified point in the future. Futures contracts are generally disposed of just before the term of the contract expires and new contracts entered into in order to avoid taking actual delivery of the commodity in question (a process known as 'rolling'), so that continuous exposure to the commodity is maintained. The contracts being purchased may be more expensive than the contracts being sold which would cause an investor in commodity futures to make an additional loss. This market trend is known as 'contango'. Alternatively the contracts being purchased may be cheaper than the ones being sold which would result in an additional gain, known as 'backwardation'. This price difference is commonly referred to as "roll yield" . As the roll yield is incorporated into the calculation of the value of the Index, it may therefore have a positive or negative impact on the value of the Index depending on whether there is contango or backwardation. The ETC will also be affected as its value is based upon the value of the Index.
|Index Name||Bloomberg Copper Subindex Swiss Franc Hedged Daily Total Return|
|Index Constituent Count||1|
|Reuters Index Ticker||.BUHGDFT|
|Security||23 Jan 2019|
|1. Bloomberg Copper Subindex Swiss Franc Hedged Daily Total Return||100.00%|
|Currency (weighting)||23 Jan 2019|
|2. Pound Sterling||25.44%|
|3. US Dollar||23.62%|
|Country (weighting)||23 Jan 2019|
|2. UNITED KINGDOM||25.44%|
|3. UNITED STATES||23.62%|
|Constituents Top 20||23 Jan 2019|
|1. FRENCH REPUBLIC GOVERNM 3.5 25APR20||25.80%|
|2. UNITED KINGDOM GIL 0.125 22MAR44 IL||25.80%|
|3. UNITED STATES TREAS NTS 1.5 15AUG26||23.95%|
|4. FRANCE TREASURY BILL BT 0.0 06MAR19||22.88%|
|5. BUNDESSCHATZANWEISUNGEN 0.0 11SEP20||1.58%|
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