{
    "type": "ETF",
    "ucits": true,
    "fund_name": "L&G Cyber Security UCITS ETF",
    "investment_objective": "Track the performance of the ISE Cyber Security\u00ae UCITS Index Net Total Return",
    "primary_asset_class": "Equity",
    "geographic_focus": "Global, with major exposure to US (73.7%), Israel (12.7%), Japan (6.2%), Canada (5.9%) and others",
    "replication_method": "physical",
    "swaps": false,
    "derivatives": false,
    "leverage": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The ETF uses physical full replication of the underlying index, investing primarily in the actual shares of companies in the cyber security sector. There is no mention of synthetic replication, swap agreements, or total return swaps. The fund may use financial derivative instruments (FDIs) only for efficient portfolio management or risk reduction, not as an inherent part of the investment strategy, so derivatives are marked false. There is no leverage or inverse exposure. The underlying assets are publicly traded equities, liquid and transparent, with no complex structured products or contingent bonds. The risk rating is 7, reflecting sector volatility and concentration in technology and smaller companies, but this does not alone indicate complexity under MiFID II. Costs are straightforward with a single ongoing charge (TER) of 0.69%, no performance fees, and no complex fee structures. The PRIIPs KID does not include any comprehension warnings or complexity flags. The factsheet confirms physical replication and no use of swaps. Overall, the ETF is a straightforward, physical equity index tracker with no synthetic or leveraged features, no complex underlying assets, and no capital protection or structured features. Therefore, it is classified as non-complex under MiFID II."
}