{
    "type": "ETF",
    "ucits": true,
    "replication_method": "physical",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The AMUNDI EURO GOVERNMENT BOND 25+Y UCITS ETF GBP Hedged Dist is a UCITS-compliant ETF that tracks the Bloomberg Euro Treasury 50bn 25+ Year Bond Index, which consists of fixed-rate, investment grade sovereign bonds denominated in euros with maturities over 25 years. The fund uses direct replication primarily by investing directly in the underlying transferable securities representing the index constituents in proportions very close to the index. The KIID and PRIIPs KID documents confirm that derivatives may be used only for managing inflows/outflows or to optimize exposure to index constituents, not as an inherent part of the investment strategy, and no synthetic replication or swap agreements are mentioned. There is no leverage, inverse exposure, or capital protection mechanism. The risk level is moderate (4 out of 7), reflecting market, credit, liquidity, counterparty, operational, and hedging risks typical of government bond ETFs, but no complexity flags such as contingent bonds or structured products are present. Costs are straightforward with a low ongoing charge (0.09%) and no performance fees or swap fees. The PRIIPs KID does not include any comprehension warnings or complexity disclaimers. The fund uses currency hedging to reduce currency risk but this does not imply complexity under MiFID II. No references to roll costs, contango, backwardation, or complex derivatives are found. Therefore, the ETF is classified as non-complex under MiFID II."
}