{
    "type": "ETF",
    "ucits": true,
    "fund_name": "Amundi MSCI Emerging Markets SRI Climate Paris Aligned - UCITS ETF DR",
    "investment_objective": "Track the performance of MSCI Emerging Markets SRI filtered PAB Index with ESG and Paris-aligned climate characteristics",
    "primary_asset_class": "Equity",
    "geographic_focus": "Emerging Markets (27 countries)",
    "replication_method": "physical",
    "swaps": false,
    "derivatives": false,
    "leverage": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The ETF is a UCITS fund physically replicating the MSCI Emerging Markets SRI filtered PAB Index by direct investment in underlying securities in proportions closely matching the index. The KIID and PRIIPs KID explicitly state the use of physical replication with derivatives only used for efficient portfolio management (e.g., managing inflows/outflows or better exposure to index constituents), not as an inherent part of the investment strategy. There is no mention of synthetic replication, swap agreements, total return swaps, or counterparty risk beyond normal operational risk. The fund does not employ leverage, inverse or amplified exposure. The risk rating is moderate (4/7), reflecting market and emerging market risks, but no complexity flags such as capital protection or structured features are present. Costs are straightforward with a simple ongoing charge of 0.25%, no performance fees, and no complex fee structures. The underlying assets are large and mid-cap equities with ESG and climate transition filters, not complex structured products or contingent convertible bonds. The monthly factsheet confirms physical replication and no use of swaps or synthetic structures. No PRIIPs comprehension warnings or complexity flags are present. Overall, the fund exhibits a clear, linear relationship to the underlying index performance and is suitable for retail investors with basic investment knowledge.",
    "risk_level_assessment": "The fund's risk level is moderate (4 out of 7), consistent with equity exposure in emerging markets. The risk profile reflects market volatility and liquidity risks typical of emerging markets but does not indicate complexity related to derivatives or leverage. This aligns with the non-complex classification under MiFID II."
}