{
    "type": "ETF",
    "ucits": true,
    "fund_name": "AMUNDI MSCI EUROPE PAB NET ZERO AMBITION UCITS ETF Acc",
    "investment_objective": "Track the performance of MSCI EUROPE Climate Paris Aligned Filtered Net EUR Index with minimized tracking error",
    "primary_asset_class": "equity",
    "geographic_focus": "Europe (15 developed European 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 Europe Climate Paris Aligned Filtered Net EUR 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 indicator is moderate (4/7), consistent with equity market risk, without additional complexity flags. The factsheet confirms physical replication and no use of synthetic instruments or leverage. The underlying assets are large and mid-cap European equities, liquid and transparent, with no complex structured products or contingent bonds. No capital protection or structured features are present. Costs are straightforward with a low ongoing charge (0.15%) and no performance fees. The PRIIPs KID does not include any comprehension warnings or complexity flags. Overall, the fund\u2019s structure and strategy are straightforward, with minimal derivative use for risk management only, and no leverage or synthetic exposure, leading to a non-complex classification under MiFID II."
}