{
    "type": "ETF",
    "ucits": true,
    "fund_name": "AMUNDI INDEX MSCI EMERGING MARKETS SRI PAB - UCITS ETF DR - GBP",
    "investment_objective": "Track the MSCI EM (Emerging Markets) SRI Filtered PAB Index, an equity index focused on large and mid-cap stocks across 27 emerging countries with ESG and Paris-aligned climate transition criteria.",
    "primary_asset_class": "Equity",
    "geographic_focus": "Emerging Markets (27 countries including China, Taiwan, India, Korea, South Africa, etc.)",
    "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 that derivatives may be used only for managing inflows/outflows or to gain better exposure to index constituents, not as a core synthetic replication method. There is no mention of swap agreements, total return swaps, or counterparty risk related to derivatives. The fund does not employ leverage, inverse or amplified exposure. The risk rating is moderate (4/7), consistent with equity market risk in emerging markets, without additional complexity flags. The fund invests in liquid, transparent equity securities with no complex structured products or contingent bonds. Costs are straightforward with a low ongoing charge (0.16%) and no performance fees. Securities lending is used to generate additional income but does not imply complexity under MiFID II. The index tracked is a standard MSCI equity index with ESG and Paris-aligned filters, which does not introduce complexity from a derivatives or structured product perspective. No capital protection or structured features are present. The factsheet confirms physical replication and no synthetic or swap-based replication. Overall, the ETF exhibits none of the complexity indicators such as synthetic replication, leverage, complex underlying assets, or capital protection mechanisms that would trigger a 'complex' classification under MiFID II."
}