{
    "type": "ETF",
    "ucits": true,
    "fund_name": "iShares FTSE 250 UCITS ETF GBP (Dist)",
    "investment_objective": "To track the return of the FTSE 250 Index through capital growth and income",
    "primary_asset_class": "Equity",
    "geographic_focus": "UK",
    "replication_method": "physical",
    "swaps": false,
    "derivatives": false,
    "leverage": false,
    "inverse": false,
    "complex_factors": "",
    "classification": "non-complex",
    "supporting_data": "The ETF aims to replicate the FTSE 250 Index by investing directly in the equity securities that make up the index, using optimising techniques such as strategic selection of securities or representative sampling. The KIID and PRIIPs documents explicitly state the use of physical replication and direct investment in underlying securities. There is no mention of synthetic replication, swap agreements, total return swaps, or derivative counterparty risk as an inherent part of the investment strategy. While the fund may use financial derivative instruments (FDIs) for direct investment purposes or risk management, this is not a core element of the strategy and does not imply complexity under MiFID II. The fund does not employ leverage, inverse exposure, or capital protection mechanisms. The risk indicator is moderate (4 out of 7 in PRIIPs, 6 in KIID but mainly due to equity market risk and concentration risk), with no specific derivative-related risk disclosures or counterparty risk warnings beyond normal custodial risk. Costs are straightforward with a TER of 0.40%, no performance fees, and no swap or derivative fees. The monthly factsheet confirms physical replication and direct investment in approximately 234 holdings, with no indication of synthetic structures or complex underlying assets. No references to contingent convertible bonds, structured products, or complex indices are found. Therefore, the ETF is classified as non-complex under MiFID II."
}