{
    "type": "ETF",
    "ucits": true,
    "fund_name": "JPM EUR IG Corporate Bond Active UCITS ETF - EUR (acc)",
    "investment_objective": "Achieve long-term return in excess of Bloomberg Euro Corporate Index by actively investing primarily in investment grade Euro denominated corporate debt securities.",
    "primary_asset_class": "Corporate Bonds",
    "geographic_focus": "Global (including emerging 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 actively managed bond ETF investing primarily in investment grade Euro denominated corporate bonds. The KIID and PRIIPs KID explicitly state that the fund may use derivatives only for efficient portfolio management purposes, not as an inherent part of the investment strategy, so derivatives are not considered a complexity driver here. There is no mention of synthetic replication, swap agreements, or counterparty risk exposure. The replication method is physical, holding actual bonds. There is no leverage, inverse or amplified exposure. The risk rating is moderate (4 in KIID, 2 in PRIIPs KID), consistent with a bond fund with medium volatility, not indicating complexity. The fund invests in liquid, transparent securities with no capital protection or structured features. Costs are straightforward with a low ongoing charge and no performance fees. The monthly factsheet confirms no use of swaps or synthetic replication and shows a diversified portfolio of corporate bonds. No complex underlying assets such as contingent convertible bonds or CLOs are highlighted. The PRIIPs KID does not carry any comprehension warnings or complexity flags. Overall, the fund exhibits none of the MiFID II complexity triggers such as synthetic replication, leverage, complex derivatives, or structured features. Therefore, it is classified as non-complex."
}