{
    "type": "ETF",
    "ucits": true,
    "fund_name": "L&G Global Equity UCITS ETF",
    "replication_method": "physical",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The L&G Global Equity UCITS ETF is a UCITS-compliant ETF that aims to track the Solactive Core Developed Markets Large & Mid Cap USD Index NTR using a physical full replication method. The KIID and PRIIPs KID documents confirm that the Fund primarily invests directly in the securities represented in the Index in similar proportions to their weightings. While the Fund may use financial derivative instruments (FDIs), these are only for efficient portfolio management or to gain exposure to companies with similar risk and performance characteristics, not as an inherent part of the investment strategy. There is no mention of synthetic replication, swap agreements, total return swaps, or counterparty exposure related to derivatives. The fact sheet explicitly states 'Physical - full replication' and no leverage or inverse exposure is indicated. The risk profile is rated 6 on a 7-point scale, reflecting market risk inherent in equity investments, but no complexity flags such as capital protection, structured features, or complex underlying assets are present. Costs are straightforward with a low ongoing charge of 0.10%, no performance fees, and no swap or derivative fees disclosed. The PRIIPs KID does not carry any comprehension warnings or complexity flags. The index tracked is a broad, transparent, and liquid developed markets equity index without complex structured products or contingent bonds. Therefore, under MiFID II criteria, this ETF is classified as non-complex."
}