{
    "type": "ETF",
    "ucits": true,
    "fund_name": "Franklin FTSE Developed World UCITS ETF",
    "investment_objective": "To track the performance of the FTSE Developed Index NR, providing exposure to large and mid-capitalisation stocks in developed markets globally.",
    "primary_asset_class": "Equity",
    "geographic_focus": "Developed markets globally",
    "replication_method": "physical",
    "swaps": false,
    "derivatives": false,
    "leverage": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The ETF uses full physical replication methodology, holding all or a representative sample of the underlying index securities directly. 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 (which is standard and not considered inherent derivative exposure). The fund is UCITS compliant, with a low ongoing charges ratio (0.09%) and no performance fees. The risk profile is medium (4 out of 7), consistent with equity market exposure, with no leverage or inverse exposure. The underlying assets are large and mid-cap equities from developed markets, which are liquid and transparent. The PRIIPs KID does not include any comprehension warnings or complexity flags. The factsheet confirms physical full replication, no use of swaps, and a straightforward index tracking objective. There are no capital protection or structured features. No complex underlying assets such as contingent convertible bonds or CLOs are held. The risk disclosures focus on index tracking risk, market risk, and currency risk, typical for a physical equity ETF. Overall, the fund exhibits none of the complexity indicators under MiFID II and is therefore classified as non-complex."
}