{
    "type": "ETF",
    "ucits": true,
    "fund_name": "iShares France Govt Bond UCITS ETF GBP Hedged (Dist)",
    "investment_objective": "To track the Bloomberg Barclays France Treasury Bond Index, providing exposure to French government bonds with a credit rating equivalent to France's sovereign rating.",
    "primary_asset_class": "bond",
    "geographic_focus": "France",
    "replication_method": "physical",
    "swaps": false,
    "derivatives": false,
    "leverage": false,
    "inverse": false,
    "complex_factors": "",
    "classification": "non-complex",
    "supporting_data": "The ETF physically invests in French government bonds as per the Bloomberg Barclays France Treasury Bond Index. The fund uses optimisation and representative sampling techniques but does not employ synthetic replication or swap agreements. Derivatives are only used for currency hedging (FX forwards), which is considered risk management rather than an inherent part of the investment strategy, so derivatives are marked false. There is no leverage, inverse or amplified exposure. The risk profile is medium-low (risk level 3-4), consistent with a straightforward bond ETF. The fund is UCITS compliant and uses physical replication. The monthly factsheet confirms a physical product structure with direct holdings in government bonds (99.94% France sovereign bonds). No capital protection or structured features are present. Costs are simple with no performance fees or swap fees. Counterparty risk is limited to custodial and FX hedging counterparties, typical for such funds. No complex underlying assets like contingent convertible bonds or CLOs are held. The PRIIPs KID does not include any comprehension warnings or complexity flags. Overall, the fund exhibits none of the MiFID II complexity triggers such as synthetic replication, leverage, complex derivatives, or structured features. Therefore, it is classified as non-complex."
}