FX Exposure
For funds that hedge their exposure to assets in other currencies, this show how much of that exposure is unhedged. When using this statistic, you should group by Risk Currency.
For example, if your fund is based in USD, and you own $500 worth of stock in JPY that was unhedged, your FX Exposure under JPY would be $500. However, if the exposure was fully hedged the FX Exposure under JPY would be $0.
The FX Exposure statistic resolves sign ambiguity inherent in FX forwards. Using the same example, depending on how the FX hedge was entered (USDJPY versus JPYUSD), the market value of the FX hedge might be positive or negative, but the FX Exposure will always have the correct sign (e.g. negative for a right-way hedge for a long equity position).
FX Exposure is also different for CFDs, forwards and futures. If, instead of $500 worth of Japanese equities, your fund had $500 worth of Nikkei futures, the market value would still be $500, but the FX Exposure would be $0.
As with Economic Exposure, FX Exposure includes accrued interest for bonds and CDS.
For securities in the base currency, the FX Exposure is always zero. If your fund is EUR-based, then all EUR-denominated securities will have zero FX Exposure.