{
    "type": "ETF",
    "ucits": true,
    "fund_name": "UBS MSCI ACWI Universal UCITS ETF",
    "investment_objective": "Passive tracking of MSCI ACWI Universal Low Carbon Select 5% Issuer Capped with Developed Markets 100% Hedged to GBP Index (Net Total Return)",
    "primary_asset_class": "Equity",
    "geographic_focus": "Global (Developed and Emerging Markets)",
    "replication_method": "physical",
    "swaps": false,
    "derivatives": false,
    "leverage": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The ETF uses physical stratified sampling replication methodology investing directly in a representative sample of underlying equities. There is no mention of synthetic replication, swap agreements, or derivative instruments used for investment purposes, only limited use of derivatives for risk reduction which does not trigger complexity. The fund is UCITS compliant and does not employ leverage, inverse or amplified exposure. The risk profile is medium (4 out of 7) in the PRIIPs KID, reflecting equity market volatility but no structural complexity. The fund does not engage in securities lending, has a straightforward fee structure (TER 0.26%), and invests in liquid, transparent securities. The underlying index is broad and diversified with 2145 constituents, but does not include complex structured products or contingent bonds. No capital protection or structured features are present. Counterparty risk is minimal as no swaps or synthetic structures are used. The PRIIPs KID does not include any comprehension warnings or complexity flags. The factsheet confirms physical replication and no use of swaps. Overall, the ETF exhibits a clear, linear relationship to the underlying index performance with minimal derivative exposure used only for hedging currency risk, not as an inherent element of the strategy. Therefore, under MiFID II, this ETF is classified as non-complex."
}