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ETFS Short AUD Long USD (SAUP) £
Investment objective
ETFS Short AUD Long USD (SAUP) £ is designed to track the MSFXSM Short Australian Dollar Index (TR) which aims to reflect movements in exchange rates between the two currencies, and exposure to an interest rate differential.
Safety and Structure
The ETC is a debt security issued by ETFS Foreign Exchange Ltd (FXL) and is backed by Currency Transactions entered into with Currency Transaction Counterparties (CTCs). Counterparty risk is minimised by form of daily mark to market payments, and cash is used to enter repo transactions with CTCs in exchange for eligible collateral. The eligible collateral is held by the collateral manager BNY Mellon in a custody account and valued daily.
 FXL Counterparty Risk Factsheet Prospectus
Index Description
MSFXSM Short Australian Dollar Index (TR) is a total return index reflecting the performance of a fully collateralised position in currency forward contracts which are rolled on a daily basis.
The index provides short exposure to (i) movements in exchange rates between the local currency (AUD) and USD and (ii) an interest differential component based on USD interest rates less local borrowing costs - to the extent either are incorporated in forward contract prices.
The methodology which Morgan Stanley & Co. uses in order to calculate the index is set out in the MSFXSM Indices Manual available here.
Liquidity
ETCs trade on regulated stock exchanges like equities, their pricing and tracking operate similar to Exchange Traded Funds (ETF) and are supported multiple market makers that can create/redeem daily on demand.
Exchange List Market Makers List Brokers List
Daily security data
Click here for information on how NAV is determined
Click here to view the latest LSE trading and price performance
Key facts
| UK Reporting Fund Status |
Yes, with effect from 1st January 2009 |
| Inception date |
November ‘09 |
| Management fee |
0.39% p.a. |
| Base Currency |
USD |
| Trading Currency |
GBP |
| Minimum investment |
One security |
| Type of security |
Secured, undated, zero-coupon note |
| Taxes |
No stamp duty or SDRT |
| Index |
MSFXSM Short Australian Dollar Index (TR) |
Trading information
| Exchange |
London Stock Exchange |
| Exchange code |
SAUP |
| Bloomberg code |
SAUP LN |
| Reuters code |
SAUP.L |
| SEDOL |
B3WPPV9 |
| ISIN |
JE00B68GQZ83 |
Index disclaimer: 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 the Issuer and ETF Securities Limited. The financial securities referred to herein are not sponsored, endorsed, or promoted by Morgan Stanley, and Morgan Stanley bears no liability with respect to any such financial securities. The Prospectus contains a more detailed description of the limited relationship Morgan Stanley has with the Issuer and any related financial securities. No purchaser, seller or holder of this product, 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.
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