{
    "type": "ETF",
    "ucits": true,
    "fund_name": "UBS (Irl) ETF plc - MSCI Australia UCITS ETF (hedged to EUR) A-acc",
    "investment_objective": "Passively track the MSCI Australia 100% hedged to EUR Index (Net Return), investing in mid and large capitalization Australian equities with currency hedging to EUR.",
    "primary_asset_class": "Equity",
    "geographic_focus": "Australia",
    "replication_method": "physical",
    "swaps": false,
    "derivatives": false,
    "leverage": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The fund uses physical full replication of the MSCI Australia 100% hedged to EUR Index, holding all shares in the same proportions as the index. The use of derivatives is limited to currency hedging and risk/cost reduction purposes, not as an inherent part of the investment strategy, thus derivatives are not considered a complexity factor here. There is no mention of synthetic replication, swap agreements, or total return swaps. No leverage or inverse exposure is present. The underlying assets are straightforward equities, liquid and transparent, with no complex structured products or contingent bonds. The risk profile is medium (4 out of 7 in PRIIPs KID), reflecting equity market volatility and currency risk, but no elevated complexity risks such as counterparty risk or capital protection mechanisms are disclosed. Costs are simple with a TER of 0.43%, no performance fees, and no complex fee structures. The PRIIPs KID does not include any comprehension warnings or complexity flags. The monthly factsheet confirms physical replication and no use of swaps for synthetic exposure. Overall, the ETF aligns with MiFID II criteria for a non-complex financial instrument."
}