{
    "type": "ETF",
    "ucits": true,
    "fund_name": "iShares \u00a3 Index-Linked Gilts UCITS ETF GBP (Dist)",
    "replication_method": "physical",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "complex_factors": "",
    "classification": "non-complex",
    "supporting_data": "The ETF aims to track the Bloomberg Barclays UK Government Inflation-Linked Bond Index by investing primarily in UK government inflation-linked bonds. The fund uses physical replication with sampled methodology, directly holding fixed income securities rather than synthetic replication or swaps. The KIID and PRIIPs KID confirm the use of financial derivative instruments (FDIs) only for direct investment purposes and possibly for optimisation, but not as an inherent element of the strategy, thus derivatives are not considered a complexity driver here. There is no mention of synthetic replication, swap agreements, or counterparty exposure related to derivatives. The fund is unleveraged, with no references to leverage, inverse or amplified returns. The underlying assets are investment grade UK government bonds, which are liquid and transparent, with no complex structured products or contingent bonds involved. The risk profile is medium-high (5 out of 7) mainly due to credit risk, interest rate risk, and liquidity risk typical of fixed income securities, not due to structural complexity. Costs are straightforward with a low ongoing charge of 0.10%, no performance fees, and no complex fee structures. Securities lending is used but revenue sharing does not increase costs. The monthly factsheet confirms physical replication, no use of swaps or synthetic structures, and a straightforward portfolio of UK government inflation-linked bonds. There is no PRIIPs comprehension warning or other complexity flags. Therefore, under MiFID II criteria, this ETF is classified as non-complex."
}