{
    "type": "ETF",
    "ucits": true,
    "fund_name": "iShares MSCI Europe SRI UCITS ETF",
    "investment_objective": "To track the MSCI Europe SRI Select Reduced Fossil Fuel Index through passive management investing primarily in equity securities of companies with higher ESG ratings in developed European markets.",
    "primary_asset_class": "equity",
    "geographic_focus": "Developed European markets",
    "replication_method": "physical",
    "swaps": false,
    "derivatives": false,
    "leverage": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The ETF physically replicates the MSCI Europe SRI Select Reduced Fossil Fuel Index by holding the underlying equity securities in similar proportions. There is no mention of synthetic replication, swap agreements, total return swaps, or derivative instruments used as part of the core investment strategy. The Fund may use financial derivative instruments only for efficient portfolio management purposes, which does not trigger complexity under MiFID II. There is no leverage, inverse or amplified exposure. The underlying assets are liquid, transparent equity securities with no complex structured products or contingent bonds. The risk profile is medium (risk level 4 out of 7 in PRIIPs KID), consistent with equity market risk, and no capital protection or structured features are present. Costs are straightforward with a TER of 0.20%, no performance fees, and no complex fee structures. Counterparty risk is limited to securities lending and standard operational counterparties, with no significant counterparty exposure from derivatives or swaps. The PRIIPs KID does not include any comprehension warnings or complexity flags. The monthly factsheet confirms physical replication and no use of swaps or leverage. Overall, the ETF exhibits a clear, linear relationship to the underlying index performance and invests directly in liquid, transparent securities, supporting a non-complex classification."
}