{
    "type": "ETF",
    "ucits": true,
    "fund_name": "HSBC Global Funds ICAV - Global Corporate Bond UCITS ETF",
    "investment_objective": "Track as closely as possible the Bloomberg Global Aggregate Corporate Bond Index (total return hedged to USD)",
    "primary_asset_class": "bond",
    "geographic_focus": "Global (developed and emerging markets)",
    "replication_method": "physical",
    "swaps": false,
    "derivatives": false,
    "leverage": false,
    "inverse": false,
    "complex_factors": "",
    "classification": "non-complex",
    "supporting_data": "The Fund is a UCITS-compliant ETF investing primarily in investment grade corporate bonds and related securities. It uses physical replication with an optimisation technique to minimise tracking error, investing directly in bonds and related securities rather than synthetic replication. The KIID and PRIIPs KID confirm derivatives are used only for hedging and efficient portfolio management, not as an inherent part of the investment strategy, so derivatives exposure is minimal and not leveraged. There is no mention of swap agreements, total return swaps, or counterparty risk related to synthetic replication. Leverage is not employed, and the risk indicator is moderate-low (3/7 in PRIIPs KID, 4 in KIID), consistent with a straightforward bond ETF. The Fund invests in liquid, transparent securities with no capital protection or structured features. Costs are simple with a low ongoing charge and no performance fees. The monthly factsheet confirms no synthetic replication or leverage, and no complex underlying assets such as CoCos or CLOs. Securities lending is limited and not expected to exceed 25%. Overall, the Fund exhibits characteristics of a non-complex ETF under MiFID II criteria."
}