WisdomTree Long CNY Short USD (LCNY.L)

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The WisdomTree Long CNY Short USD is a fully backed Exchange Traded Product (ETP) that complies with UCITS regulations. It is structured to provide investors with direct exposure to the Chinese Yuan (CNY) relative to the US Dollar (USD). This ETP aims to replicate the performance of the MSFXSM Long Chinese Renminbi Total Return Index (MSCECNYL). Its total return is composed of two main elements: the daily changes in foreign exchange forward contracts, specifically those taking a 'long' position on the CNY against the USD, and any accrued interest income. This combined return is then adjusted to account for all applicable product fees and operational costs. For illustration, if the CNY strengthens by 1% against the USD over a single day, the ETP's value will typically increase by 1%, prior to any fees. Conversely, should the CNY weaken by 1% against the USD during the same period, the ETP's value would decrease by 1%, before the deduction of fees.