{
    "type": "ETF",
    "ucits": true,
    "fund_name": "iShares MSCI ACWI SRI UCITS ETF USD (Dist)",
    "investment_objective": "To achieve a return through capital growth and income reflecting the MSCI ACWI SRI Select Reduced Fossil Fuel Index",
    "primary_asset_class": "Equity",
    "geographic_focus": "Global (MSCI ACWI Index constituents with ESG criteria applied)",
    "replication_method": "physical",
    "swaps": false,
    "derivatives": false,
    "leverage": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The ETF is a UCITS-compliant equity ETF that physically replicates the MSCI ACWI SRI Select Reduced Fossil Fuel Index by holding the underlying equity securities in similar proportions. The KIID and PRIIPs KID documents confirm the use of physical replication with no mention of synthetic replication, swap agreements, or total return swaps. The fund may use financial derivative instruments only for risk management purposes, not as an inherent part of the investment strategy, so derivatives are marked false. There is no leverage, inverse exposure, or capital protection features. The risk indicator is medium (4 out of 7 in PRIIPs KID, 6 in KIID but mainly due to equity market risk and counterparty risk related to safekeeping and securities lending, not derivative counterparty risk). The fund invests in liquid, transparent equity securities with no complex underlying assets such as contingent convertible bonds or CLOs. The monthly factsheet confirms physical replication, no synthetic structures, and no leverage. Securities lending is conducted but revenue sharing does not increase costs and is disclosed. No complex fee structures or performance fees are present. The ESG screening and index construction methodology add some complexity in index composition but do not make the product complex under MiFID II. There are no capital protection or structured features. Overall, the ETF is non-complex under MiFID II criteria."
}