{
    "type": "ETF",
    "ucits": true,
    "fund_name": "L&G US ESG Exclusions Paris Aligned UCITS ETF",
    "investment_objective": "Track the Foxberry Sustainability Consensus US Total Return Index, providing low carbon emission exposure to US equities aligned with EU Paris Aligned Benchmarks",
    "primary_asset_class": "Equity",
    "geographic_focus": "United States",
    "replication_method": "physical",
    "swaps": false,
    "derivatives": false,
    "leverage": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The ETF primarily uses physical full replication investing directly in the securities of the underlying index in similar proportions. The KIID and PRIIPs KID confirm that while the fund may use financial derivative instruments (FDIs), these are only for efficient portfolio management or to invest in 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 risks typical of synthetic ETFs. The fund is UCITS compliant, with a low ongoing charge of 0.12%, no performance fees, and no leverage or inverse exposure. The risk rating is 6, reflecting equity market risk rather than complexity from derivatives or leverage. The index tracked is a large and mid-cap US equity index with ESG exclusions, which is transparent and liquid. The factsheet confirms physical full replication and no use of swaps. No capital protection or structured features are present. The PRIIPs KID does not carry any comprehension warnings or complexity flags. Overall, the ETF exhibits a straightforward, linear exposure to a transparent equity index with minimal derivative use for risk management only, thus classifying it as non-complex under MiFID II."
}