{
    "type": "ETF",
    "ucits": true,
    "fund_name": "iShares MSCI World UCITS ETF",
    "investment_objective": "To track the return of the MSCI World Index through capital growth and income",
    "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 aims to replicate the MSCI World Index primarily through physical equity securities, using optimising techniques including strategic selection and representative sampling. The KIID and PRIIPs KID documents confirm the use of physical replication and do not indicate synthetic replication or swap usage. The fund may use financial derivative instruments (FDIs) only for direct investment purposes or risk management, but this is minimal and not inherent to the strategy, so derivatives are marked false. There is no leverage, inverse or amplified exposure. The risk profile is medium (4 out of 7 in PRIIPs KID, 6 in KIID but this is due to equity market risk, not complexity). The fund invests in liquid, transparent securities with no capital protection or structured features. Counterparty risk is disclosed but limited, mainly related to securities lending and custodial arrangements, not swap counterparties. Costs are straightforward with a 0.50% ongoing charge and no performance fees or swap fees. The monthly factsheet confirms physical replication and no synthetic or swap-based structure. No complex underlying assets such as contingent convertible bonds or CLOs are held. No capital protection or structured return features are present. Overall, the fund exhibits characteristics of a non-complex ETF under MiFID II criteria."
}