{
    "type": "ETF",
    "ucits": true,
    "fund_name": "Amundi MSCI China ESG Leaders Extra UCITS ETF Acc",
    "investment_objective": "Track the MSCI China Select ESG Rating and Trend Leaders Net Total Return Index via direct or sampling replication",
    "primary_asset_class": "Equity",
    "geographic_focus": "China",
    "replication_method": "physical",
    "swaps": true,
    "derivatives": false,
    "leverage": false,
    "inverse": false,
    "complex_factors": "Use of OTC swaps for securities lending and optimization, Emerging Market equity exposure, ESG index complexity",
    "classification": "complex",
    "supporting_data": "The ETF is a UCITS fund physically replicating the MSCI China Select ESG Rating and Trend Leaders Index primarily through direct investment in underlying equities, with possible sampling replication. The fund is exposed to counterparty risk due to the use of OTC swaps with Morgan Stanley Bank AG and Societe Generale, primarily related to securities lending programs, as disclosed in the factsheet. Although the derivatives usage is limited to risk management and securities lending, the presence of OTC swaps and counterparty exposure triggers complexity under MiFID II. There is no leverage or inverse exposure. The risk profile is medium-high (5/7), reflecting market risk in Chinese equities and liquidity risk. The underlying index is ESG-focused with a best-in-class methodology, which adds complexity due to ESG data estimation and methodology risks. Costs are straightforward with no performance fees, and ongoing charges are 0.65%. The PRIIPs KID does not include a comprehension warning but confirms the medium-high risk and liquidity risks. Overall, the use of OTC swaps and counterparty risk, combined with the emerging market and ESG index complexity, leads to a MiFID II classification as complex despite physical replication and no leverage."
}