{
    "type": "ETF",
    "ucits": true,
    "fund_name": "Amundi Global Corporate Bond 1-5Y ESG - UCITS ETF DR - HEDGED GBP",
    "investment_objective": "Track the Bloomberg MSCI ESG Global Corporate 1-5 Year Select Index with ESG characteristics, minimizing tracking error",
    "primary_asset_class": "Bond",
    "geographic_focus": "Global (multi-currency corporate bonds)",
    "replication_method": "physical",
    "swaps": false,
    "derivatives": false,
    "leverage": false,
    "inverse": false,
    "complex_factors": "",
    "classification": "non-complex",
    "supporting_data": "The ETF is a UCITS-compliant bond ETF that physically replicates the Bloomberg MSCI ESG Global Corporate 1-5 Year Select Index using a sampled physical replication approach. The KIID and PRIIPs KID explicitly state that the fund achieves exposure mainly through direct investments in transferable securities representing the index constituents. Derivatives are only used for operational purposes such as managing inflows/outflows or minor index exposure adjustments, not as an inherent part of the investment strategy, so derivative use is not considered complexity-driving. There is no mention of synthetic replication, swap agreements, or counterparty risk beyond normal operational risk. The fund is not leveraged, inverse, or structured with capital protection or contingent features. The risk rating is low (2/7), consistent with a straightforward bond index fund. Costs are simple with a low ongoing charge (0.15%) and no performance fees. The monthly factsheet confirms physical replication, no leverage, and a portfolio of investment-grade corporate bonds with no complex underlying assets like contingent convertibles or CLOs. The ESG overlay and currency hedging do not add complexity under MiFID II. No comprehension warnings or complexity flags appear in the PRIIPs KID. Overall, the fund exhibits a clear, linear relationship to its underlying index and invests directly in liquid, transparent securities, supporting a non-complex classification."
}