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WisdomTree Long CNY Short USD

WisdomTree Long CNY Short USD is designed to provide investors with exposure to Chinese Renminbi ("CNY") relative to US Dollars ("USD") by tracking the MSFX Long Chinese Renminbi Index (TR)(the "Index"), which aims to reflect the performance of a position in forward contracts which are rolled on a daily basis.

WisdomTree Long CNY Short USD is an exchange traded currency ("ETC"). Its securities can be created and redeemed on demand by authorised participants and traded on exchange just like shares in a company. The ETC obtains exposure to the Index by entering into unfunded swaps with a counterparty. There is no upfront cash payment by the Issuer to the counterparty when an unfunded swap is created.

However, daily cash payments are made between the Issuer and the counterparty to reflect the daily movements in the value of the Index. Separately, the Issuer uses the cash it holds to purchase eligible collateral from the counterparty under a daily reverse repurchase agreement ("reverse repo"), an agreement whereby the counterparty agrees to repurchase such eligible collateral from the Issuer the following day. The eligible collateral is held by the custodian in a custody account.

Action Required

The GBP trading line of the WisdomTree Long CNY Short USD will be delisted from the London Stock Exchange (Exchange Ticker: LCNP ) with effect from 24 March 2020, and therefore the last opportunity to trade on London Stock Exchange will be prior to close of business on 23 March 2020. The remaining trading line of the WisdomTree Long CNY Short USD, Exchange ticker: LCNY will continue to trade after this date.

For more information please see the FAQ here.
Fund Overview
Base Currency USD
Currency hedged No – this product is not protected against adverse currency movements
Daily Change (27 Mar 2020) 0.11%
ISIN JE00B6822V48
Leverage Factor N/A
Physical delivery No
Price (NAV) (27 Mar 2020) $49.96
Underlying Exposure CNY/USD
Net Asset Value As of 27 Mar 2020
NAV $49.96
Daily Change $0.05
Daily Return 0.11%
Total AUM of fund $530,105.15
Shares Outstanding 10,610
Domicile Jersey
Replication method Synthetic - unfunded swap backed by collateral
Legal form Debt security
Legal structure ETC
Legal Tax
ISA Eligible
Sharia compliant No
Securities regulator Financial Conduct Authority (FCA UK)
UCITS Eligible Eligible
UK Reporting Status Yes
Key Service Providers
Trustee The Law Debenture Trust Corporation p.l.c.
Issuer WisdomTree Foreign Exchange Limited
Registrar Computershare Investor Services (Jersey) Ltd
Collateral manager The Bank of New York Mellon
Counterparty Morgan Stanley & Co. International plc
MER 0.59%
Daily Swap Rate 0.00233%
Entry / Exit fees None when traded on Exchange
Passported Countries
Austria Austria
Belgium Belgium
Denmark Denmark
Spain Spain
United Kingdom

Listings & Codes

Listings & Codes

i 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.

Performance is total return based on the growth of a hypothetical 10K based unit value net of fees using daily NAV. Historical performance is not an indication of future performance and any investments may go down in value.

Live Prices

Index Details

MSFXSM Long Chinese Renminbi Index (TR)


The Index provides: (i) a 'long' exposure to CNY relative to USD. For example, if CNY were to rise in value relative to USD, the Index (tracked by the ETC) would rise in value. Conversely if CNY were to decrease in value relative to USD, the Index would also decrease in value; and (ii) an interest rate differential reflecting the difference between the CNY and the USD exchange rates.

The Index is a total return index, which means that it also provides a collateral yield.


Index Details

Index Details
Index Name MSFXSM Long Chinese Renminbi Index (TR)
Index Provider MSFX
Index Constituent Count 1
Index Type Total Return
Currency USD
Bloomberg Ticker MSCECNYL
Reuters Index Ticker n.a.
Index Website
Security 27 Mar 2020
1. MSFX 5x Long USD/British Pound Index (TR) 100.00%

Collateral Details

Currency (weighting) 27 Mar 2020
1. US Dollar 47.91%
2. Yen 28.80%
3. Swiss Franc 9.94%
4. Euro 7.30%
5. Balboa 5.61%
6. Pound Sterling 0.23%
7. Bermudian Dollar 0.21%
Country (weighting) 27 Mar 2020
2. JAPAN 28.80%
4. PUERTO RICO 9.38%
5. GERMANY 6.58%
6. PANAMA 5.61%
7. SPAIN 0.52%
8. JERSEY 0.23%
9. BERMUDA 0.21%
10. LUXEMBOURG 0.20%
11. FRANCE 0.00%
Constituents Top 20
No Data To Display


Historical Data

The products discussed in this document are issued by WisdomTree Foreign Exchange Limited (the "Issuer"). The Issuer is regulated by the Jersey Financial Services Commission. Investors should read the prospectus of the Issuer before investing and should refer to the section of the prospectus entitled ‘Risk Factors’ for further details of risks associated with an investment in the securities offered by the Issuer.

Securities issued by the Issuer are direct, limited recourse obligations of the Issuer alone and are not obligations of or guaranteed by any of Morgan Stanley & Co International plc, Morgan Stanley & Co. Incorporated, any of their affiliates or anyone else or any of their affiliates. Each of Morgan Stanley & Co International plc and Morgan Stanley & Co. Incorporated disclaims all and any liability whether arising in tort, contract or otherwise (save as referred to above) which it might have in respect of this document or its contents otherwise arising in connection herewith.

The Morgan Stanley Indices are the exclusive property of Morgan Stanley & Co. Incorporated ("Morgan Stanley"). Morgan Stanley and the Morgan Stanley index names are service mark(s) of Morgan Stanley or its affiliates and have been licensed for use for certain purposes by WisdomTree Management Jersey Limited in respect of the securities issued by Issuer. The securities issued by Issuer are not sponsored, endorsed, or promoted by Morgan Stanley, and Morgan Stanley bears no liability with respect to any such financial securities. The prospectus of Issuer contains a more detailed description of the limited relationship Morgan Stanley has with Issuer and any related financial securities. No purchaser, seller or holder of securities issued by Issuer, or any other person or entity, should use or refer to any Morgan Stanley trade name, trademark or service mark to sponsor, endorse, market or promote this product without first contacting Morgan Stanley to determine whether Morgan Stanley's permission is required. Under no circumstances may any person or entity claim any affiliation with Morgan Stanley without the prior written permission of Morgan Stanley.