{
    "type": "ETF",
    "ucits": true,
    "fund_name": "iShares MSCI UK IMI ESG Leaders UCITS",
    "replication_method": "physical",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The fund is a UCITS ETF physically replicating the MSCI UK IMI Country ESG Leaders 5% Issuer Capped Index using an optimised sampling approach. The KIID and PRIIPs KID documents confirm the use of physical equity securities as the primary investment, with only limited use of financial derivative instruments (FDIs) such as FX contracts or for direct investment purposes, but not as an inherent part of the replication strategy. There is no mention of synthetic replication, swap agreements, total return swaps, or counterparty exposure related to derivatives. The fund does not employ leverage, inverse or amplified exposure, nor does it invest in complex underlying assets like contingent convertible bonds or CLOs. The risk profile is medium (4 out of 7 in PRIIPs KID, 6 in KIID but driven by equity market risk and ESG screening, not complexity). Costs are straightforward with a low ongoing charge (0.15%) and no performance fees. Securities lending is used but revenue sharing does not increase costs. The monthly factsheet confirms physical replication and no synthetic or swap-based structures. No capital protection or structured features are present. Overall, the fund exhibits a clear, linear relationship to the underlying index performance, invests directly in liquid, transparent equity securities, and uses derivatives only for risk management or FX hedging, not as a core strategy element. Therefore, under MiFID II, this ETF is classified as non-complex."
}