{
    "type": "ETF",
    "ucits": true,
    "fund_name": "Amundi UK Equity All Cap UCITS ETF Dist",
    "investment_objective": "Track the Morningstar UK NR Index, representing UK large and mid-cap equity market, via direct or sampling replication",
    "primary_asset_class": "Equity",
    "geographic_focus": "United Kingdom",
    "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 Morningstar UK NR Index through physical replication or sampling. The KIID and PRIIPs KID explicitly state the use of direct investment in underlying securities with no mention of synthetic replication, swap agreements, or derivative instruments as part of the core strategy. The factsheet confirms physical replication and no leverage or inverse exposure. While counterparty risk is mentioned, it relates to securities lending programs and not to swap counterparties. The risk level is medium (4/7), consistent with equity market exposure, with no capital protection or structured features. Costs are straightforward with a low ongoing charge (0.04%) and no performance fees. There is no indication of complex underlying assets such as contingent convertible bonds or CLOs. The PRIIPs KID does not include any comprehension warnings or complexity flags. Overall, the ETF exhibits a clear, linear relationship to the underlying index performance, minimal derivative use (only incidental for risk management if any), and no leverage, making it non-complex under MiFID II criteria."
}