{
    "type": "ETF",
    "ucits": true,
    "fund_name": "Franklin FTSE Taiwan UCITS ETF Class SINGLCLASS",
    "investment_objective": "Passive tracking of FTSE Taiwan 30/18 Capped Index (Net Return), investing in large and mid-cap Taiwanese equities",
    "primary_asset_class": "Equity",
    "geographic_focus": "Taiwan",
    "replication_method": "physical",
    "swaps": false,
    "derivatives": false,
    "leverage": false,
    "inverse": false,
    "complex_factors": "",
    "classification": "non-complex",
    "supporting_data": "The ETF uses full physical replication of the FTSE Taiwan 30/18 Capped Index, investing directly in large and mid-cap Taiwanese equities. There is no mention of synthetic replication, swap agreements, or derivative instruments used as part of the investment strategy, only derivatives for efficient portfolio management purposes, which does not trigger complexity under MiFID II. The fund is UCITS compliant, with a low total expense ratio (0.19%) and no performance fees. The risk profile is medium-high (5/7) primarily due to concentration risk, emerging markets risk, and currency risk, not due to structural complexity. The PRIIPs KID does not include any comprehension warnings or complexity flags. The factsheet confirms physical full replication, no leverage, no inverse or amplified exposure, and no capital protection or structured features. Counterparty risk is disclosed but relates to normal custody and operational risks, not to swap counterparties. The underlying assets are liquid, listed equities with no complex structured products or contingent bonds. Therefore, the ETF is classified as non-complex under MiFID II criteria."
}