{
    "type": "ETF",
    "ucits": true,
    "fund_name": "JPM EUR Government Bond Active UCITS ETF - EUR (acc)",
    "investment_objective": "Achieve long-term return in excess of Bloomberg Euro Aggregate Treasury Total Return Index by actively investing primarily in EUR denominated government and government related debt securities.",
    "primary_asset_class": "Bond",
    "geographic_focus": "European Union member states participating in the European Monetary Union, including some emerging markets",
    "replication_method": "physical",
    "swaps": false,
    "derivatives": false,
    "leverage": false,
    "inverse": false,
    "complex_factors": "",
    "classification": "non-complex",
    "supporting_data": "The ETF is a UCITS fund investing primarily in EUR denominated government and government-related bonds, mostly investment grade. The investment approach is active management with direct holdings in bonds, not synthetic replication. The KIID and PRIIPs KID mention that derivatives may be used only for efficient portfolio management purposes, implying derivatives are not inherent to the strategy but for risk management or liquidity. The factsheet confirms holdings are mainly government bonds and interest rate futures, which are standard instruments for hedging or duration management, not for synthetic replication or leverage. There is no mention of swap agreements, total return swaps, or counterparty risk related to derivatives. No leverage or inverse exposure is indicated. The risk profile is medium-low (3/7) in PRIIPs and 4 in KIID, consistent with a bond fund without complex features. No capital protection or structured product features are present. Costs are straightforward with a 0.15% ongoing charge and no performance fees. The fund tracks a well-known, transparent benchmark (Bloomberg Euro Aggregate Treasury Total Return Index) and discloses holdings daily. There are no complexity flags such as contingent convertible bonds, CLOs, or structured notes. The use of futures is standard and does not trigger complexity classification under MiFID II. Therefore, the fund is classified as non-complex."
}