{
    "type": "ETF",
    "ucits": true,
    "fund_name": "L&G Corporate Bond ex-Banks Higher Ratings 0-2Y UCITS ETF",
    "investment_objective": "Track the performance of the J.P. Morgan Global Credit Index (GCI) Ultra Short ex Banks 2% Issuer Capped Index, providing exposure to highly rated Euro and/or US Dollar-denominated corporate bonds with short duration, excluding bank issuers, with ESG exclusions.",
    "primary_asset_class": "Bond",
    "geographic_focus": "Developed markets, primarily US and Euro denominated bonds",
    "replication_method": "physical",
    "swaps": false,
    "derivatives": false,
    "leverage": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The ETF uses physical replication via representative sampling of the underlying index bonds, investing directly in liquid, investment grade corporate bonds with short duration. The KIID and PRIIPs KID confirm that derivatives (FDIs) may be used only for efficient portfolio management or hedging, not as an inherent part of the investment strategy, thus derivatives are marked false. There is no mention of synthetic replication, swap agreements, or counterparty risk related to derivatives. The fund is UCITS compliant, with a low risk rating of 2-3, indicating a straightforward risk profile. No leverage, inverse or amplified return features are present. The underlying assets are liquid, investment grade bonds without complex structured products or contingent convertible bonds. Costs are simple with a low ongoing charge (0.12%) and no performance fees or swap fees. The index tracked excludes banks and certain ESG-unfriendly sectors but is otherwise a standard corporate bond index. The monthly factsheet confirms physical optimized replication and no use of synthetic structures or leverage. No capital protection or structured features are present. Overall, the fund exhibits characteristics of a non-complex ETF under MiFID II criteria."
}