{
    "type": "ETF",
    "ucits": true,
    "replication_method": "physical",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The AMUNDI INDEX J.P. MORGAN GBI GLOBAL GOVIES - UCITS ETF DR - HEDGED GBP is a UCITS-compliant ETF that aims to track the J.P. Morgan Government Bond Index Global (GBI Global) using a physical replication method, primarily through direct investments in transferable securities representing the index constituents. The KIID and PRIIPs KID explicitly state the use of direct and sampled physical replication, with derivatives only used marginally for managing inflows/outflows or to gain 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 related to derivatives. The fund does not employ leverage, inverse exposure, or capital protection mechanisms. The risk profile is low (2 out of 7), consistent with a straightforward bond index tracking strategy. Costs are simple, with no performance fees or swap fees, and ongoing charges are low (0.15%). The monthly factsheet confirms physical replication, no leverage, and a portfolio composed of over 1000 government bonds with an average rating of A+, indicating investment in liquid, transparent securities. No complex underlying assets such as contingent convertible bonds or CLOs are held. The PRIIPs KID does not include any comprehension warnings or complexity flags. Overall, the ETF exhibits none of the complexity indicators under MiFID II, leading to a non-complex classification."
}