{
    "type": "ETF",
    "ucits": true,
    "fund_name": "AMUNDI Japan TOPIX II UCITS ETF JPY Dist",
    "investment_objective": "Replicate the JPY-denominated TOPIX\u00ae Gross Total Return Index (gross dividends reinvested) representing Japanese equities listed on the Tokyo Stock Exchange First Section",
    "primary_asset_class": "Equity",
    "geographic_focus": "Japan",
    "replication_method": "physical",
    "swaps": true,
    "derivatives": false,
    "leverage": false,
    "inverse": false,
    "complex_factors": [
        "Swap usage for securities lending and temporary sales",
        "Counterparty risk exposure",
        "Sampling technique"
    ],
    "classification": "complex",
    "supporting_data": "The ETF is a UCITS-compliant equity ETF tracking the TOPIX Total Return Index through physical replication, primarily by direct investment in underlying securities with possible sampling techniques. The KIID and factsheet confirm physical replication but also disclose counterparty risk arising from the use of OTC swaps with counterparties such as Morgan Stanley Bank AG and Soci\u00e9t\u00e9 G\u00e9n\u00e9rale, limited to 10% of fund assets, mainly related to securities lending and guaranteed temporary sales of securities. There is no leverage or inverse exposure. The derivatives usage is limited to risk management and securities lending facilitation, but the presence of OTC swaps and counterparty risk triggers MiFID II complexity classification. The risk profile is medium (4/7), consistent with equity market risk, and no capital protection or structured features are present. Costs are straightforward with no performance fees. The PRIIPs KID does not include a comprehension warning, and the product is intended for investors with basic knowledge. However, the use of OTC swaps and counterparty exposure, even if limited, means the product is not straightforward for all retail investors to fully understand, justifying a 'complex' classification under MiFID II rules."
}