{
    "type": "ETF",
    "ucits": true,
    "fund_name": "Franklin FTSE Asia ex China ex Japan UCITS ETF",
    "investment_objective": "Provide exposure to medium and large capitalisation companies in Asian markets, excluding China and Japan.",
    "primary_asset_class": "Equity",
    "geographic_focus": "Asia ex China and Japan",
    "replication_method": "physical",
    "swaps": false,
    "derivatives": false,
    "leverage": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The ETF uses full physical replication by holding all benchmark securities in similar proportions to the index. The benchmark is the FTSE Asia ex Japan ex China Index-NR, a broad, liquid equity index. The fund may use derivatives only for hedging and efficient portfolio management, 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 exposure related to swaps. No leverage, inverse or amplified exposure is present. The underlying assets are large and mid-cap equities from developed and emerging Asian markets, which are liquid and transparent. The risk profile is medium (4/7), consistent with equity market volatility and emerging market risks, but not elevated due to structural complexity. Costs are straightforward with a low ongoing charge (0.14%) and no performance fees or swap fees. The PRIIPs KID confirms no capital protection or structured features, and no complexity warnings or comprehension alerts. The factsheet confirms physical full replication and no use of synthetic or swap-based replication. Overall, the fund is a straightforward, physical equity ETF tracking a standard index with minimal derivative use for risk management only, no leverage, and no complex underlying assets. Therefore, it does not meet MiFID II criteria for a complex financial instrument."
}