ETFS EUR Daily Hedged Energy (EHEN) is designed to track the Bloomberg Energy Subindex Euro Hedged Daily Total Return plus a collateral return. The product enables EUR investors to gain exposure to a total return investment in commodity futures with a daily hedge against movements in the EUR/USD exchange rate. The ETC is backed by contracts (fully funded swaps) with counterparties whose payment obligations are backed by collateral which is marked to market daily. The collateral is held in pledge accounts at The Bank of New York Mellon. Details of the collateral held are available at: www. etfsecurities. com