{
    "type": "ETF",
    "ucits": true,
    "fund_name": "HSBC Global Funds ICAV - Euro Government Bond UCITS ETF",
    "investment_objective": "Track as closely as possible the Bloomberg EuroAgg Treasury Index (total return)",
    "primary_asset_class": "bond",
    "geographic_focus": "European Union member states participating in the European Monetary Union",
    "replication_method": "physical",
    "swaps": false,
    "derivatives": false,
    "leverage": false,
    "inverse": false,
    "complex_factors": "",
    "classification": "non-complex",
    "supporting_data": "The Fund tracks the Bloomberg EuroAgg Treasury Index using physical bonds issued by governments and supranational entities. The KIID and PRIIPs KID explicitly state that the Fund does not embed derivatives or leverage as part of its investment strategy, although it may use derivatives solely for hedging and efficient portfolio management (EPM) purposes, which does not trigger complexity under MiFID II. There is no mention of synthetic replication, swap agreements, or counterparty risk related to derivatives. The Fund may engage in securities lending up to 30% of assets, but this is a common practice and does not imply complexity. The risk profile is medium-low (3/7), consistent with a straightforward bond ETF. No capital protection or structured features are present. Costs are simple with a low ongoing charge (0.06%) and no performance fees. The underlying assets are investment grade sovereign bonds with transparent valuation and liquidity. The index tracked is a standard fixed-rate government bond index with monthly rebalancing and no complex features. No leverage, inverse exposure, or contingent bonds are held. The PRIIPs KID does not include any comprehension warnings or complexity flags. Therefore, the Fund is classified as non-complex under MiFID II."
}