WisdomTree Short JPY Long USD
WisdomTree Short JPY Long USD is designed to provide investors with exposure to Japanese Yen ("JPY") relative to US Dollars ("USD") by tracking the MSFX Short Japanese Yen 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 JPY 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.
The GBP trading line of the WisdomTree Short JPY Long USD will be delisted from the London Stock Exchange (Exchange Ticker: SJPP) 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 Short JPY Long USD, Exchange ticker: SJPY will continue to trade after this date.
On or before 23 March 2020, we recommend investors contact their broker, financial advisor or investment intermediary to arrange one of the following action:
(1) to convert their securities from the delisted trading line into a remaining currency trading line up to the last trading day or
(2) to sell their securities in the delisted trading line before or up to the last trading day and if investors wish to maintain their exposure to the security, they may purchase a remaining trading line of this security.
For more information please see the FAQ here.
|Currency hedged||No – this product is not protected against adverse currency movements|
|Daily Change (14 Feb 2020)||-0.04%|
|Price (NAV) (14 Feb 2020)||$58.68|
|Replication method||Synthetic - unfunded swap backed by collateral|
|Legal form||Debt security|
|Securities regulator||Financial Conduct Authority (FCA UK)|
|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|
|Daily Swap Rate||0.00164%|
|Entry / Exit fees||None when traded on Exchange|
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.
MSFXSM Short Japanese Yen Index (TR)
The Index provides: (i) a 'short' exposure to JPY relative to USD. For example, if JPY were to rise in value relative to USD, the Index (tracked by the ETC) would decrease in value. Conversely if JPY 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 JPY and the USD exchange rates.
The Index is a total return index, which means that it also provides a collateral yield.
|Index Name||MSFXSM Short Japanese Yen Index (TR)|
|Index Constituent Count||1|
|Index Type||Total Return|
|Reuters Index Ticker||n.a.|
|Security||14 Feb 2020|
|1. MSFXSM Short Japanese Yen Index (TR)||100.00%|
|No Data To Display|
|No Data To Display|
|Constituents Top 20||14 Feb 2020|
|1. GETLINK SE EUR 0.4||2.49%|
|2. MELLANOX TECHNOLOGIES LT ILS 0.0175||2.49%|
|3. AMUNDI SA EUR 2.5 144A||2.49%|
|4. ALTRIA GRO COM USD0.333333||2.49%|
|5. CISCO SYS INC USD 0.001||2.49%|
|6. CITIZENS FINL GROUP INC USD 0.01||2.49%|
|7. CME GROUP INC CL A SHS USD 0.01||2.49%|
|8. COMERICA INC USD 5.0||2.49%|
|9. GLOBAL PMTS INC NPV||2.49%|
|10. INTL CONSOLIDATED AIRLINE DI GBP||2.49%|
|11. IPSEN SA EUR 1.0||2.49%|
|12. MONSTER BEVERAGE CORP NEW USD 0.005||2.49%|
|13. NATIXIS S.A. INH. EO 1;6||2.49%|
|14. PARTNERS GROUP HOLDING AG CHF 0.01||2.49%|
|15. ROCHE HOLDING AG NPV||2.49%|
|16. RYANAIR HOLDINGS PLC EUR 0.006||2.49%|
|17. UNION PAC CORP USD 2.5||2.49%|
|18. CHINA BIOLOGIC PRODUCTS USD 0.0001||2.48%|
|19. DAQO NEW ENERGY CORP NPV ADR||2.48%|
|20. ARKEMA SA EUR 10.0||2.46%|
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.
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