{
    "type": "ETF",
    "ucits": true,
    "fund_name": "SPDR Bloomberg UK Gilt UCITS ETF",
    "replication_method": "physical",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The SPDR Bloomberg UK Gilt UCITS ETF is a UCITS-compliant ETF that aims to track the Bloomberg UK Gilt Bond Index, which represents the UK Government bond market. The fund uses a physical replication method, holding the underlying government bonds in approximate index weightings. The KIID and PRIIPs KID documents confirm that derivatives may be used only for efficient portfolio management, not as an inherent part of the investment strategy, and there is no mention of synthetic replication, swap agreements, or counterparty risk. The fund does not employ leverage, inverse or amplified exposure. The risk profile is moderate (risk category 5 in KIID, 3 in PRIIPs KID, reflecting medium risk typical of government bond funds) with no capital protection or structured features. The factsheet confirms the fund holds primarily investment grade UK government bonds with no complex underlying assets or structured products. Costs are straightforward with a TER of 0.15%, no performance fees, and no swap or derivative fees. Securities lending is capped at 70% exposure but this is a common practice and does not imply complexity under MiFID II. There are no complexity flags such as contingent convertible bonds, leverage, synthetic replication, or capital protection mechanisms. Therefore, the fund is classified as non-complex under MiFID II."
}