{
    "type": "ETF",
    "ucits": true,
    "fund_name": "L&G China CNY Bond UCITS ETF",
    "investment_objective": "Track the performance of the J.P. Morgan China Custom Liquid ESG Capped Index, providing exposure to fixed-rate CNY-denominated government and policy bank bonds with ESG tilt.",
    "primary_asset_class": "Bond",
    "geographic_focus": "China",
    "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 of the underlying index, investing directly in fixed income securities denominated in Chinese Yuan. The KIID and PRIIPs KID confirm that while the Fund may use financial derivative instruments (FDIs), these are for efficient portfolio management and risk mitigation rather than as an inherent part of the investment strategy, thus derivatives are not considered a complexity driver. There is no mention of synthetic replication, swap agreements, or counterparty risk beyond normal operational risk. The Fund does not employ leverage, inverse or amplified exposure. The risk rating is low to moderate (3 out of 7 in KIID, 2 out of 7 in PRIIPs), consistent with a straightforward bond ETF. The underlying assets are government and policy bank bonds, which are liquid and transparent, though subject to emerging market and currency risks. No capital protection or structured features are present. Costs are simple with a single ongoing charge of 0.30%, no performance fees, and no complex fee structures. The monthly factsheet confirms physical replication, no use of swaps, and a straightforward index methodology with ESG tilts. There are no references to complex bonds such as CoCos or CLOs, nor to leverage or inverse strategies. The PRIIPs KID does not carry any comprehension warnings or complexity flags. Overall, the ETF aligns with MiFID II criteria for a non-complex financial instrument."
}