{
    "type": "ETF",
    "ucits": true,
    "fund_name": "iShares MSCI Japan ESG Enhanced UCITS",
    "investment_objective": "To achieve a return reflecting the MSCI Japan ESG Enhanced Focus CTB Index through capital growth and income, via passive management investing primarily in equity securities of the Index.",
    "primary_asset_class": "Equity",
    "geographic_focus": "Japan",
    "replication_method": "physical",
    "swaps": false,
    "derivatives": false,
    "leverage": false,
    "inverse": false,
    "complex_factors": "",
    "classification": "non-complex",
    "supporting_data": "The Fund is a UCITS ETF physically replicating an ESG-optimized MSCI Japan equity index. The KIID and PRIIPs KID explicitly state the Fund invests primarily in equity securities that make up the Index, with only limited use of financial derivative instruments (FDIs) for direct investment purposes, not for synthetic replication. There is no mention of swap agreements, total return swaps, or funded/unfunded swap structures. The monthly factsheet confirms a physical product structure and no leverage or inverse exposure. The risk indicator is moderate (4 out of 7 in PRIIPs KID, 6 in KIID but reflecting equity market risk rather than complexity). No capital protection or structured features are present. Costs are straightforward with a TER of 0.15%, no performance fees, and no complex fee structures. Counterparty risk is disclosed as a standard operational risk related to safekeeping and derivatives counterparties but no significant counterparty exposure is indicated. The index tracked is ESG-optimized but does not involve complex contingent bonds or structured products. No leverage or inverse terms are used. The Fund uses optimisation techniques and may use FDIs for direct investment purposes, but this does not constitute synthetic replication or complexity under MiFID II. Therefore, the Fund is classified as non-complex."
}