{
    "type": "ETF",
    "ucits": true,
    "fund_name": "HSBC Global Funds ICAV - Sustainable Development Bank Bonds UCITS ETF",
    "investment_objective": "Track as closely as possible the performance of the FTSE World Broad Investment-Grade USD Multilateral Development Bank Bond Capped Index",
    "primary_asset_class": "Bond",
    "geographic_focus": "Global (USD-denominated bonds issued by multilateral development banks)",
    "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 USD-denominated investment-grade bonds issued by multilateral development banks. The Fund uses physical replication with an optimisation technique to minimize tracking error and trading costs, and does not use synthetic replication or swap agreements. Derivatives are only used for hedging and efficient portfolio management, not as an inherent part of the investment strategy, so derivatives exposure is minimal and not complexity-driving. There is no leverage or inverse exposure. The underlying assets are straightforward investment-grade bonds with high credit quality (minimum BBB-/Baa3), no contingent convertible bonds or complex structured products are held. The risk profile is medium-low (risk category 3 out of 7), consistent with a bond ETF. The PRIIPs KID and monthly factsheet confirm no use of funded or unfunded swaps, no counterparty risk beyond normal market counterparties, and no capital protection or structured features. Costs are simple with a low ongoing charge (0.15%) and no performance fees. There are no complexity flags such as capital guarantees, leverage, or complex derivatives. The index tracked is a broad investment-grade bond index with a capped issuer weight, which is transparent and liquid. Therefore, under MiFID II, this ETF is classified as non-complex."
}