{
    "type": "ETF",
    "ucits": true,
    "fund_name": "Franklin Sustainable Euro Green Bond UCITS ETF",
    "investment_objective": "Provide exposure to the European green bond market whilst maximizing total returns through active management of green bonds denominated in European currencies.",
    "primary_asset_class": "Bond",
    "geographic_focus": "Europe",
    "replication_method": "physical",
    "swaps": false,
    "derivatives": false,
    "leverage": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The Fund invests primarily in physical green bonds issued by corporate and governmental issuers in Europe, with at least 75% of NAV in green bonds and up to 25% in climate-aligned bonds. The KIID and PRIIPs KID explicitly state that derivatives may be used only for efficient portfolio management or hedging, not as an inherent part of the investment strategy, indicating minimal derivative use. There is no mention of synthetic replication, swap agreements, or funded/unfunded swaps. The factsheet confirms no use of swaps or synthetic replication, and the derivative exposure is limited to currency and interest rate derivatives for hedging purposes only, with no leverage or inverse exposure. The risk profile is moderate-low (risk level 3/7), consistent with a straightforward bond ETF. No capital protection or structured features are present. Costs are simple with a TER of 0.25%, no performance fees, and no complex fee structures. The benchmark is a standard Bloomberg Global Aggregate EUR Green Bond Index, with no indication of complex indices or structured products. Counterparty risk is disclosed but is typical for bond funds and does not indicate complexity. Overall, the Fund exhibits characteristics of a physically replicated, actively managed bond ETF with minimal derivative use for risk management, no leverage, and no complex underlying assets, leading to a non-complex classification under MiFID II."
}