{
    "type": "ETF",
    "ucits": true,
    "fund_name": "iShares Growth Portfolio UCITS ETF GBP Hedged (Acc)",
    "replication_method": "physical",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "complex_factors": "Active management with multi-asset exposure and use of derivatives for hedging only",
    "classification": "non-complex",
    "supporting_data": "The Fund is a UCITS ETF that is actively managed without a benchmark, investing predominantly in other UCITS funds and ETFs that track ESG-compliant indices. The replication method is physical, as the Fund invests directly in underlying funds and securities rather than synthetic replication or swaps. The Fund uses derivatives only for risk reduction, currency hedging (including FX forwards), and cost management, not as an inherent part of the investment strategy, so derivative use is considered non-complex. There is no leverage, inverse or amplified exposure mentioned. The risk profile is medium (4 out of 7 in PRIIPs KID, 5 in KIID), consistent with a multi-asset growth strategy, but not indicative of complexity. No capital protection or structured features are present. Counterparty risk disclosures relate to normal custodial and derivative counterparties but no significant counterparty risk from funded or unfunded swaps. Costs are straightforward with a TER of 0.25%, no performance fees, and some securities lending revenue sharing. The monthly factsheet confirms holdings are mainly in other ETFs and mutual funds with no mention of synthetic replication or complex derivatives. Overall, the Fund\u2019s structure, investment approach, and risk disclosures align with a non-complex classification under MiFID II."
}