{
    "type": "ETF",
    "ucits": true,
    "fund_name": "Avantis Global Equity UCITS ETF USD ACC",
    "investment_objective": "Seek long-term capital appreciation through an actively managed portfolio of equity and equity-related securities issued by large, mid and small capitalisation companies in developed countries.",
    "primary_asset_class": "Equity and equity-related securities",
    "geographic_focus": "Developed countries globally",
    "replication_method": "physical",
    "swaps": false,
    "derivatives": false,
    "leverage": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The fund is an actively managed UCITS ETF investing primarily in equities and equity-related securities of issuers in developed countries. It does not seek to replicate an index but references the MSCI World IMI Index for comparative purposes only. The KIID and PRIIPs KID documents show no mention of synthetic replication, swap agreements, total return swaps, or derivative instruments as part of the investment strategy. The fund explicitly states it will not invest in contingent convertible bonds or other complex structured products. The replication method is physical, investing directly in underlying securities such as common shares, convertible stock, preferred shares, rights issues, equity warrants (which do not embed derivatives), stock options, and closed-ended investment funds including REITs and publicly traded partnerships. There is no leverage or inverse exposure, and no capital protection or structured features are described. The risk profile is medium (4 out of 7 in PRIIPs KID, 6 in KIID), consistent with equity market risk but not indicative of complexity. Costs are straightforward with no performance fees or swap fees. The monthly factsheet and other documents do not indicate any use of swaps or synthetic replication. There are no complexity flags such as contingent bonds, leverage, or capital protection mechanisms. Therefore, under MiFID II criteria, this ETF is classified as non-complex."
}