{
    "type": "ETF",
    "ucits": true,
    "fund_name": "L&G Japan Equity UCITS ETF",
    "replication_method": "physical",
    "leverage": false,
    "inverse": false,
    "derivatives": false,
    "swaps": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The L&G Japan Equity UCITS ETF is a UCITS-compliant ETF that aims to track the Solactive Core Japan Large & Mid Cap USD Index NTR using a physical full replication method, investing primarily directly in the underlying securities of the index. The KIID and PRIIPs KID documents confirm that the fund may use financial derivative instruments (FDIs) only to a limited extent, likely for efficient portfolio management or risk reduction, but not as an inherent part of the investment strategy, thus derivatives are marked false. There is no mention of synthetic replication, swap agreements, total return swaps, or counterparty exposure related to swaps. The fact sheet explicitly states 'Physical - full replication' and no leverage or inverse exposure is indicated. The risk rating is 6 on a 7-point scale, reflecting market risk typical of equity ETFs, 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 index tracked is a broad, liquid, large and mid-cap Japanese equity index with no complex or contingent bonds or structured products. The PRIIPs KID does not include any comprehension warnings or complexity disclaimers. Overall, the fund exhibits a straightforward, transparent, and linear investment strategy with minimal derivative use for risk management, no leverage, and physical replication, leading to a non-complex classification under MiFID II."
}