{
    "type": "ETF",
    "ucits": true,
    "fund_name": "AMUNDI INDEX FTSE EPRA NAREIT GLOBAL UCITS ETF DR",
    "investment_objective": "Track the performance of FTSE EPRA/NAREIT Developed Index with minimal tracking error",
    "primary_asset_class": "Equity",
    "geographic_focus": "Global (Developed Markets, with major exposure to US, Japan, Australia, UK, Singapore, Hong Kong, Canada, Europe)",
    "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 tracking the FTSE EPRA/NAREIT Developed Index, which represents listed real estate companies and REITs globally. The replication method is direct physical replication, investing mainly in transferable securities closely matching the index constituents. The KIID and PRIIPs KID confirm that derivatives may be used only for efficient portfolio management (e.g., managing inflows/outflows or better exposure to index constituents), not as an inherent part of the investment strategy, so derivative use is incidental and limited. There is no mention of synthetic replication, swap agreements, or counterparty risk related to derivatives. The fund does not employ leverage, inverse or amplified exposure. The risk profile is medium-high (5/7) reflecting equity market risk and sector concentration in real estate, but no complexity flags such as capital protection, structured features, or complex underlying assets are present. Costs are straightforward with a low ongoing charge (0.24%) and no performance fees. Securities lending is used to generate additional income but does not imply complexity. The factsheet confirms physical replication and no use of swaps or synthetic structures. The index tracked is a standard equity index of listed real estate companies, not a complex or structured index. No references to roll costs, contango, or backwardation effects are found. Overall, the ETF exhibits a clear, linear relationship to the underlying index performance with minimal derivative exposure used only for risk management, qualifying it as non-complex under MiFID II."
}