SGBP/USD2
WisdomTree Short GBP Long USD
WisdomTree Short GBP Long USD is designed to provide investors with exposure to Pounds Sterling ("GBP") relative to US Dollars ("USD") by tracking the MSFX Short British Pound Index (TR) (the "Index"), which aims to reflect the performance of a position in forward contracts which are rolled on a daily basis.
WisdomTree Short GBP Long 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.
WisdomTree Short GBP Long 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.
*Formerly ETFS Short GBP Long USD
Fund Overview
| Fund Overview | |
|---|---|
| Base Currency | USD |
| Currency hedged | No – this product is not protected against adverse currency movements |
| Daily Change (21 Oct 2019) | -0.64% |
| ISIN | JE00B68GRJ90 |
| Leverage Factor | N/A |
| Physical delivery | No |
| Price (NAV) (21 Oct 2019) | $57.63 |
| Underlying Exposure | USD/GBP |
Net Asset Value
Structure
| Structure | |
|---|---|
| Domicile | Jersey |
| Replication method | Synthetic - unfunded swap backed by collateral |
| Legal form | Debt security |
| Legal structure | ETC |
Legal Tax
| Legal Tax | |
|---|---|
| ISA | Eligible |
| Sharia compliant | No |
| Securities regulator | Financial Conduct Authority (FCA UK) |
| SIPP | Eligible |
| UCITS Eligible | Eligible |
| UK Reporting Status | Yes |
Key Service Providers
| 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 |
Fees
| Fees | |
|---|---|
| MER | 0.39% |
| Entry / Exit fees | None when traded on Exchange |
Passported Countries
| Passported Countries |
|---|
 Austria |
 Belgium |
 Denmark |
 Finland |
 France |
 Germany |
 Ireland |
 Italy |
 Netherlands |
 Norway |
 Spain |
 Sweden |
 United Kingdom |
Listings & Codes
Listings & Codes
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Performance
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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
Live Prices
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† 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. |
| Index Details |
|---|
MSFXSM Short British Pound Index (TR)
The Index provides: (i) a 'short' exposure to GBP relative to USD. For example, if GBP were to rise in value relative to USD, the Index (tracked by the ETC) would decrease in value. Conversely if GBP were to decrease in value relative to USD, the Index would increase in value; and (ii) an interest rate differential reflecting the difference between the GBP 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 Short British Pound Index (TR) |
| Index Provider | MSFX |
| Index Constituent Count | 1 |
| Index Type | Total Return |
| Currency | USD |
| Bloomberg Ticker | MSCEGBPS |
| Reuters Index Ticker | n.a. |
| Index Website | |
| Security | 21 Oct 2019 |
|---|---|
| 1. MSFXSM Short British Pound Index (TR) | 100.00% |
Collateral Details
Collateral Details
| Currency (weighting) | |
|---|---|
| No Data To Display |
| Country (weighting) | |
|---|---|
| No Data To Display |
| Constituents Top 20 | 21 Oct 2019 |
|---|---|
| 1. BUREAU VERITAS SA EUR 0.12 | 2.16% |
| 2. CITIC LTD NPV | 2.16% |
| 3. AUTOZONE INC USD 0.01 | 2.16% |
| 4. DANAHER CORP USD 0.01 | 2.16% |
| 5. E TRADE FINL CORP USD 0.01 | 2.16% |
| 6. ENTERGY CORP NEW USD 0.01 | 2.16% |
| 7. EUROFINS SCIENTIFIC SE EUR 0.1 | 2.16% |
| 8. HONEYWELL INTL INC USD 1.0 | 2.16% |
| 9. JD SPORTS FASHION PLC 0.25P | 2.16% |
| 10. JUST EAT PLC 1P | 2.16% |
| 11. NORFOLK SOUTHN CORP USD 1.0 | 2.16% |
| 12. NORTHROP GRUMMAN CORP USD 1.0 | 2.16% |
| 13. PETROCHINA CO LTD CNY 1.0 | 2.16% |
| 14. PHILIP MORRIS INTL INC NPV | 2.16% |
| 15. PHILLIPS 66 USD 0.01 | 2.16% |
| 16. RYANAIR HOLDINGS PLC EUR 0.006 | 2.16% |
| 17. SUNTRUST BKS INC USD 1.0 | 2.16% |
| 18. TARGET CORP USD 0.0833 | 2.16% |
| 19. TE CONNECTIVITY LTD 2.6 | 2.16% |
| 20. ALSTOM SA EUR 7.0 | 2.16% |
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.
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.