{
    "type": "ETF",
    "ucits": true,
    "fund_name": "Jupiter Global Government Bond Active UCITS ETF",
    "replication_method": "physical",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The Jupiter Global Government Bond Active UCITS ETF is a UCITS-compliant ETF investing primarily in sovereign and supra-sovereign bonds, with an active management approach. The KIID and PRIIPs KID documents confirm the fund invests directly in bonds and money market instruments, with no mention of synthetic replication, swap agreements, or derivative instruments used as part of the investment strategy. The fund does not use leverage or inverse exposure, and the risk profile is moderate-low (risk level 3 out of 7). The monthly factsheet confirms the fund holds physical bonds (government and corporate), with no derivatives or futures exposure beyond negligible bond futures (-0.2%) which appear to be minimal and likely for hedging or portfolio management rather than inherent strategy. There is no indication of capital protection, structured features, or complex underlying assets such as contingent convertible bonds or CLOs. The fund's charges are straightforward with no performance fees or swap fees. The fund uses an active management approach but does not track or replicate the benchmark synthetically. The absence of swap usage, leverage, or complex derivatives, combined with a clear physical bond portfolio and moderate risk rating, supports a non-complex classification under MiFID II. No PRIIPs comprehension warnings or complexity flags are present."
}