{
    "type": "ETF",
    "ucits": true,
    "fund_name": "JPM All Country Research Enhanced Index Equity Active UCITS ETF - USD (acc)",
    "investment_objective": "Achieve long-term return in excess of MSCI ACWI Index by actively investing primarily in a portfolio of large and mid-capitalisation companies globally",
    "primary_asset_class": "Equity",
    "geographic_focus": "Global, including developed and emerging markets",
    "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 invests primarily in physical equity securities globally, with at least 67% of assets in equities. The investment approach is active, aiming to outperform the MSCI ACWI Index by overweighting and underweighting securities based on fundamental analysis. The KIID and PRIIPs KID confirm that derivatives may be used only for efficient portfolio management purposes, not as an inherent part of the investment strategy, and there is no mention of synthetic replication, swap agreements, or counterparty risk. The fund does not employ leverage, inverse exposure, or capital protection mechanisms. The risk profile is medium (4 out of 7), consistent with equity market risk, and no complex derivative-related risks or counterparty risks are disclosed. The factsheet confirms physical holdings of equities, no use of swaps or synthetic replication, and no leverage. Fees are straightforward with a 0.25% ongoing charge and no performance fees. There are no complex structured products or contingent bonds in the portfolio. Therefore, under MiFID II criteria, this ETF is classified as non-complex."
}