{
    "type": "ETF",
    "ucits": true,
    "fund_name": "L&G India INR Government Bond UCITS ETF",
    "investment_objective": "Track the performance of the J.P. Morgan India Government Fully Accessible Route (FAR) Bonds Index",
    "primary_asset_class": "Bond",
    "geographic_focus": "India",
    "replication_method": "physical",
    "swaps": false,
    "derivatives": false,
    "leverage": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The ETF primarily invests directly in INR-denominated Indian government bonds included in the J.P. Morgan India Government FAR Bonds Index, using physical full replication. The KIID and PRIIPs KID documents confirm that the fund may use financial derivative instruments (FDIs) only for efficient portfolio management or to manage tracking error, not as an inherent part of the investment strategy, thus derivatives usage is minimal and risk-managing in nature. There is no mention of synthetic replication, swap agreements, total return swaps, or counterparty exposure. The fund does not employ leverage, inverse or amplified exposure. The risk rating is moderate (4 out of 7 in KIID, 3 out of 7 in PRIIPs KID), consistent with a bond ETF without complex features. The fact sheet confirms physical full replication, no leverage, no capital protection or structured features, and no complex underlying assets such as contingent convertible bonds or CLOs. Costs are straightforward with a single ongoing charge of 0.39%, no performance fees, and no swap or derivative fees. There are no complexity flags such as capital guarantees, barrier options, or structured returns. The fund is UCITS compliant and regulated by the Central Bank of Ireland. The PRIIPs KID does not carry any comprehension warnings or complexity disclaimers. Overall, the ETF exhibits a clear, linear relationship to the underlying index performance, invests in liquid government bonds, and uses derivatives only for risk management, leading to a non-complex classification under MiFID II."
}