{
    "type": "ETF",
    "ucits": true,
    "fund_name": "Goldman Sachs Global Green Bond UCITS ETF",
    "investment_objective": "To track the performance of the Solactive Global Green Bond Select Index, which measures global investment grade fixed rate green bonds issued by supranationals, sub-sovereigns, agencies and corporates pursuing sustainable development policies.",
    "primary_asset_class": "bond",
    "geographic_sector_focus": "global",
    "replication_method": "physical",
    "swaps": false,
    "derivatives": false,
    "leverage": false,
    "inverse": false,
    "complex_factors": "",
    "classification": "non-complex",
    "supporting_data": "The ETF uses a representative sampling approach to physically hold a portfolio of green bonds similar to the Solactive Global Green Bond Select Index. The KIID and PRIIPs KID documents confirm that derivatives are only used for currency hedging purposes, not as an inherent part of the investment strategy, and no synthetic replication or swap agreements are mentioned. There is no leverage or inverse exposure. The risk profile is moderate-low (category 3 out of 7), consistent with investment grade fixed income securities. No capital protection or structured features are present. Costs are straightforward with a low ongoing charge of 0.22% and no performance fees. The fund is UCITS compliant and regulated by the Central Bank of Ireland. The absence of swap usage, leverage, complex underlying assets, or capital protection mechanisms leads to a non-complex classification under MiFID II. The fund's complexity is low, with a clear, linear relationship to the underlying index performance and transparent holdings disclosed daily. The PRIIPs KID does not include any comprehension warnings or complexity flags. The representative sampling and currency hedging derivatives do not trigger complexity classification as derivatives are used solely for risk management. Overall, the ETF is suitable for retail investors with medium-low risk tolerance and does not exhibit features that would classify it as complex under MiFID II."
}