{
    "type": "ETF",
    "ucits": true,
    "fund_name": "L&G Emerging Markets Corporate Bond (USD) Screened UCITS ETF",
    "investment_objective": "Track the J.P. Morgan ESG CEMBI Broad Diversified Custom Maturity Index, providing exposure to US dollar denominated emerging market fixed and floating rate corporate bonds with ESG screening.",
    "primary_asset_class": "Bond",
    "geographic_focus": "Emerging Markets (USD denominated bonds)",
    "replication_method": "physical",
    "swaps": false,
    "derivatives": false,
    "leverage": false,
    "inverse": false,
    "complex_factors": "",
    "classification": "non-complex",
    "supporting_data": "The ETF primarily uses a representative sampling physical replication method investing directly in bonds that closely resemble the index. The KIID and fact sheet explicitly mention that the Fund may use financial derivative instruments (FDIs) but only for efficient portfolio management or to gain exposure to bonds, not as an inherent part of the investment strategy, thus derivatives are not considered a complexity driver here. There is no mention of synthetic replication, swap agreements, or counterparty risk beyond normal operational risks. The Fund is UCITS compliant, with no leverage or inverse exposure. The risk rating is moderate (4 on a 7-point scale) in the KIID, reflecting bond market and emerging market risks but not complexity. The PRIIPs KID classifies the product as low risk (2/7), indicating a straightforward risk profile. No capital protection or structured features are present. Costs are simple with a single ongoing charge of 0.35%, no performance fees, and no swap or derivative fees. The index tracked is a broad emerging market corporate bond index with ESG tilts but no complex structured indices or contingent bonds. The fact sheet confirms no use of leverage or synthetic replication and shows a large number of holdings (627) in liquid bonds. No references to roll costs, contango, or backwardation effects are found, which are typical complexity indicators in commodity or futures-based ETFs. Overall, the Fund\u2019s structure, replication, and risk disclosures align with a non-complex classification under MiFID II rules."
}