{
    "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, mainly US, Japan, Australia, UK, Singapore, others)",
    "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 fund tracking the FTSE EPRA/NAREIT Developed Index, which represents listed real estate companies and REITs globally. The replication method is physical/direct replication, investing directly 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 market risk of real estate equities, not complexity. Costs are straightforward with a low ongoing charge (0.24%) and no performance fees. The factsheet confirms physical replication, no leverage, no synthetic structures, and a simple equity index exposure. There are no capital protection or structured features. The underlying assets are listed equities and REITs, which are liquid and transparent. No complex bonds, contingent convertibles, or CLOs are held. The fund uses securities lending to generate additional income, which is common and not a complexity driver under MiFID II. No complexity flags such as capital guarantees, structured returns, or significant counterparty risk are present. Overall, the ETF is straightforward, physically replicating a well-known equity index with minimal derivative use for operational purposes only, and no leverage or synthetic structures. Therefore, it is classified as non-complex under MiFID II."
}