{
    "type": "ETF",
    "ucits": true,
    "fund_name": "iShares MSCI China A UCITS ETF EUR Hedged (Acc)",
    "investment_objective": "To track the MSCI China A Inclusion Index through passive management by investing in equity securities of large capitalization China A shares accessible via Stock Connect.",
    "primary_asset_class": "Equity",
    "geographic_focus": "China (People's Republic of China), large capitalization companies",
    "replication_method": "physical",
    "swaps": false,
    "derivatives": false,
    "leverage": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The Fund aims to replicate the MSCI China A Inclusion Index by holding the underlying equity securities in similar proportions, indicating physical replication. The KIID and PRIIPs KID confirm that derivatives are used only for currency hedging purposes (FX forwards), not as an inherent part of the investment strategy, so derivatives are marked false. There is no mention of synthetic replication, swap agreements, total return swaps, or counterparty exposure related to derivatives. The monthly factsheet explicitly states the product structure is physical replication. There is no leverage, inverse or amplified exposure language. The risk profile is medium (4 out of 7 in PRIIPs KID, 6 in KIID due to emerging market and counterparty risks related to custody, not derivatives). No capital protection or structured features are present. Costs are straightforward with no performance fees or swap fees. The complexity arises mainly from the emerging market exposure, liquidity risks, and quota restrictions on Stock Connect access, but these do not trigger MiFID II complexity classification. The Fund is UCITS compliant, which also supports a non-complex classification. No complex underlying assets such as contingent convertible bonds or CLOs are held. The hedging strategy uses FX forwards solely for currency risk management, not for leverage or synthetic exposure. Therefore, the Fund is classified as non-complex under MiFID II."
}