{
    "type": "ETF",
    "ucits": true,
    "replication_method": "physical",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "complex_factors": "Sampled replication with direct bond holdings; currency hedging; securities lending",
    "classification": "non-complex",
    "supporting_data": "The AMUNDI PRIME GLOBAL GOVERNMENT BOND UCITS ETF GBP Hedged Dist is a UCITS-compliant ETF that tracks the Solactive Global Developed Government Bond Index using a sampled physical replication method. The fund invests primarily in fixed-rate government bonds from developed, investment-grade countries. The KIID explicitly states that exposure is achieved mainly through direct investments in transferable securities and/or other eligible assets representing the index constituents, with no mention of synthetic replication or swap agreements. Derivatives are used only for managing inflows/outflows and to improve exposure to index constituents, not as an inherent part of the investment strategy, thus derivatives are considered non-complex in this context. There is no leverage, inverse exposure, or capital protection features. The risk level is moderate (category 4), reflecting market, credit, liquidity, counterparty, operational, and hedging risks typical of bond ETFs, but no complexity flags such as high leverage or structured products. Securities lending is used to generate additional income but does not add complexity per se. No references to contingent bonds, complex structured products, or significant counterparty risk exposure were found. The charges are straightforward with no performance fees or swap fees. The currency hedging introduces some hedging risk but is a common feature in bond ETFs and does not elevate complexity under MiFID II. No PRIIPs KID or factsheet information indicated additional complexity such as synthetic replication or leveraged exposure. Therefore, the ETF is classified as non-complex under MiFID II."
}