{
    "type": "ETF",
    "ucits": true,
    "fund_name": "AMUNDI INDEX J.P. MORGAN GBI GLOBAL GOVIES - UCITS ETF DR",
    "investment_objective": "Track the performance of J.P. Morgan Government Bond Index Global (GBI Global) with minimized tracking error",
    "primary_asset_class": "Bond",
    "geographic_focus": "Global government bonds, including sovereign ex-EMU and EMU countries",
    "replication_method": "physical",
    "swaps": false,
    "derivatives": false,
    "leverage": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The ETF is a UCITS-compliant bond ETF that physically replicates the J.P. Morgan Government Bond Index Global using a sampled physical replication method. The KIID and PRIIPs KID explicitly state that the fund achieves exposure mainly through direct investments in transferable securities representing the index constituents. Derivatives are only used occasionally for managing inflows/outflows or to gain better exposure to index constituents, not as an inherent part of the investment strategy, so derivative use is not considered complexity-driving. There is no mention of synthetic replication, swap agreements, total return swaps, or counterparty risk beyond normal operational risk. The fund does not employ leverage, inverse or amplified exposure. The risk rating is moderate-low (3/7), consistent with a straightforward bond index tracking product. Costs are simple with a single ongoing charge of 0.20%, no performance fees, and no swap or derivative fees. The underlying assets are liquid government bonds with no complex structured products or contingent convertible bonds. The fund uses securities lending to generate additional income, but this is a common practice and does not add complexity under MiFID II. The monthly factsheet confirms physical replication and no synthetic or swap-based structures. No capital protection or structured features are present. The PRIIPs KID does not include any comprehension warnings or complexity flags. Overall, the ETF exhibits none of the complexity indicators such as synthetic replication, leverage, complex underlying assets, or capital protection mechanisms. Therefore, it is classified as non-complex under MiFID II."
}