{
    "type": "ETF",
    "ucits": true,
    "fund_name": "iShares MSCI Pacific ex-Japan ESG Enhanced UCITS ETF",
    "replication_method": "physical",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The ETF is a UCITS-compliant physical replication ETF tracking the MSCI Pacific ex-Japan ESG Enhanced Focus CTB Index. The KIID and PRIIPs KID documents confirm the fund invests primarily in equity securities that make up the index in similar proportions, using physical replication. There is no mention of synthetic replication, swap agreements, total return swaps, or derivative instruments used as part of the core investment strategy. Derivatives may be used only for direct investment purposes to produce a similar return to the index, implying limited and non-inherent derivative use, thus derivatives are marked false. The fund does not employ leverage, inverse or amplified exposure. The risk indicator in the KIID is 6 (on a scale of 1-7), reflecting equity market risk and ESG screening impact, but no complexity flags such as capital protection or structured features are present. The fund engages in securities lending, but this is standard and does not increase complexity. The underlying assets are liquid equities with no complex structured products or contingent bonds. Counterparty risk is disclosed but limited to custodial and securities lending counterparties, typical for physical ETFs. Costs are straightforward with a TER of 0.20%, no performance fees, and no swap or derivative fees. The monthly factsheet confirms physical replication with 91 holdings, no mention of swaps or synthetic structures, and no leverage. The index tracked uses ESG exclusion and optimisation but does not involve complex derivatives or contingent bonds. No PRIIPs comprehension warnings or complexity flags are present. Therefore, the ETF is classified as non-complex under MiFID II criteria."
}