{
    "type": "ETF",
    "ucits": true,
    "fund_name": "MSCI World SRI S-Series PAB 5% Capped",
    "replication_method": "physical",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The ETF is a UCITS-compliant, passively managed index-tracking fund that seeks to replicate the MSCI World SRI S-Series PAB 5% Capped index using either full replication or optimized sampling of underlying shares. The KIID and PRIIPs KID documents explicitly state that the fund invests directly in shares of companies included in the index, with no mention of synthetic replication, swap agreements, or derivative instruments as part of the investment strategy. There is no indication of leverage, inverse exposure, or capital protection mechanisms. The risk profile is medium (4 out of 7), consistent with equity market exposure, and no complex derivative-related risks or counterparty risks are disclosed. Costs are straightforward, with no swap fees or performance fees. The index tracked is ESG-focused with a 5% cap on company weights and Paris Aligned Benchmark targets, but this does not introduce complexity in terms of replication or underlying asset structure. The monthly factsheet (URL provided) does not indicate any use of swaps or derivatives. Therefore, the fund is classified as non-complex under MiFID II criteria."
}