{
    "type": "ETF",
    "ucits": true,
    "fund_name": "iShares Global Corp Bond UCITS ETF GBP Hedged (Dist)",
    "investment_objective": "To track the Bloomberg Barclays Global Aggregate Corporate Bond Index, providing exposure to global investment grade corporate bonds with a combination of capital growth and income.",
    "primary_asset_class": "Fixed Income (Corporate Bonds)",
    "geographic_focus": "Global (Emerging and Developed Markets)",
    "replication_method": "physical",
    "swaps": false,
    "derivatives": false,
    "leverage": false,
    "inverse": false,
    "complex_factors": "",
    "classification": "non-complex",
    "supporting_data": "The ETF is a UCITS-compliant fund physically investing in a diversified portfolio of investment grade corporate bonds globally. The fund uses sampling techniques and may use financial derivative instruments (FDIs) only for direct investment purposes and currency hedging (FX forwards), not as a core synthetic replication method. There is no mention of swap agreements, total return swaps, or unfunded/funded swap structures. The fund is not leveraged, inverse, or leveraged multiple times. The risk indicator is moderate (3 out of 7 in PRIIPs, 4 in KIID), consistent with bond market risk but not indicative of complexity. The fund engages in securities lending but this does not increase complexity under MiFID II. The underlying assets are straightforward corporate bonds, with no contingent convertible bonds, CLOs, or other complex structured products. The PRIIPs KID does not carry any comprehension warnings or complexity flags. The monthly factsheet confirms physical holdings, no synthetic replication, and no leverage. The use of derivatives is limited to FX hedging and possibly minor portfolio management, which does not trigger complexity under MiFID II. No capital protection or structured features are present. Costs are simple with a TER of 0.25%, no performance fees, and no swap fees. Overall, the fund exhibits a clear, linear relationship to the underlying index and invests directly in liquid, transparent securities. Therefore, it is classified as non-complex."
}