{
    "type": "ETF",
    "ucits": true,
    "fund_name": "UBS (Lux) Fund Solutions - MSCI Japan Socially Responsible UCITS ETF",
    "investment_objective": "Passive replication of the MSCI Japan SRI Low Carbon Select 5% Issuer Capped Total Return Net Index",
    "primary_asset_class": "Equity",
    "geographic_focus": "Japan",
    "replication_method": "physical",
    "swaps": false,
    "derivatives": false,
    "leverage": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The ETF is a UCITS-compliant equity ETF focused on Japanese large and mid-cap stocks with an ESG tilt. The fund uses physical full replication of the MSCI Japan SRI Low Carbon Select 5% Issuer Capped Total Return Net Index, as confirmed by the factsheet. There is no mention of synthetic replication, swap agreements, or derivative instruments used for gaining exposure. The KIID and PRIIPs KID documents confirm that derivatives may be used only for risk reduction or operational efficiency, not as an inherent part of the investment strategy, thus derivatives are considered false for complexity purposes. There is no leverage, inverse or amplified exposure. The risk profile is medium (4 out of 7 in PRIIPs KID, 5-6 in KIID), consistent with equity market volatility, not indicating complexity. Costs are straightforward with a TER of 0.19%, no performance fees, no securities lending, and no swap fees. The underlying assets are liquid Japanese equities with no complex structured products or contingent bonds. The PRIIPs KID states the product is 'not simple and may be difficult to understand' but this is a standard caution for ETFs and does not reflect structural complexity. No capital protection or structured features are present. The fund does not engage in securities lending, and counterparty risk is minimal. Tracking error is very low (~0.1%), indicating a clear linear relationship to the underlying index. Overall, the ETF exhibits none of the MiFID II complexity triggers such as synthetic replication, leverage, complex underlying assets, or capital protection mechanisms. Therefore, it is classified as non-complex."
}