{
    "type": "ETF",
    "ucits": true,
    "fund_name": "AMUNDI MSCI WORLD SRI CLIMATE NET ZERO AMBITION PAB UCITS ETF Acc",
    "investment_objective": "Track the performance of MSCI World SRI FILTERED PAB NR Close Index, an equity index with ESG and climate transition focus, aiming to minimize tracking error.",
    "primary_asset_class": "equity",
    "geographic_focus": "Global developed markets (23 developed countries)",
    "replication_method": "physical",
    "swaps": false,
    "derivatives": false,
    "leverage": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The ETF uses physical replication as confirmed by the factsheet and PRIIPs KID, investing directly in the underlying equity securities of the MSCI World SRI Filtered PAB Index. There is no mention of synthetic replication, swap agreements, or derivative instruments used as part of the investment strategy, only limited use of derivatives for efficient portfolio management and inflows/outflows, which does not trigger complexity. The fund is UCITS compliant, with a straightforward index-tracking objective focused on ESG and climate-aligned equities. No leverage, inverse or amplified return features are present. The risk indicator is moderate (4/7), reflecting market risk typical of equity ETFs, with no additional complexity flags such as capital protection or structured features. Costs are simple with a low ongoing charge (0.18%) and no performance fees. Counterparty risk disclosures are minimal and relate to normal operational risks. The underlying assets are liquid large and mid-cap equities, with no complex structured products or contingent bonds. The PRIIPs KID does not include any comprehension warnings or complexity flags. Overall, the ETF exhibits a clear, linear relationship to the underlying index performance, with minimal derivative use for operational purposes only, and no synthetic or leveraged elements. Therefore, under MiFID II criteria, this ETF is classified as non-complex."
}