{
    "type": "ETF",
    "ucits": true,
    "fund_name": "JPM Global Research Enhanced Index Equity (ESG) UCITS ETF - GBP Hedged (acc)",
    "investment_objective": "Achieve long-term return exceeding MSCI World Index (Total Return Net) by actively investing primarily in a portfolio of global companies with ESG integration.",
    "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 pursues an actively managed equity strategy investing primarily in physical equity securities globally, with no indication of synthetic replication or use of swap agreements. The KIID and PRIIPs KID explicitly state that derivatives may be used only for efficient portfolio management purposes, not as an inherent part of the investment strategy, thus derivatives are considered non-complex here. There is no leverage or inverse exposure mentioned. The fund invests directly in liquid, transparent equity securities with ESG overlays. The risk profile is medium (4 out of 7 in PRIIPs KID, 6 in KIID based on volatility), consistent with equity market risk but not indicative of complexity. Costs are straightforward with no performance fees or swap fees. The factsheet confirms no securities lending and no synthetic replication. No capital protection or structured features are present. No complex underlying assets such as contingent convertible bonds or CLOs are held. The benchmark is a standard MSCI World Index, a widely used and transparent equity benchmark. No references to contango, roll costs, or complex index structures are found. Overall, the ETF aligns with MiFID II criteria for non-complex instruments."
}