{
    "success": true,
    "data": {
        "complex": "non-complex",
        "leverage": false,
        "derivates": false,
        "swaps": false,
        "inverse": false,
        "replication_method": "physical",
        "ucits": true,
        "type": "ETF",
        "complex_factors": [],
        "classification": "non-complex",
        "supporting_data": "Based on the provided Key Investor Information document, the JPM Global Research Enhanced Index Equity Active UCITS ETF (GBP Hedged) is classified as non-complex.  The fund aims to achieve a long-term return that exceeds the MSCI World Index. The investment policy involves actively managing a portfolio of global companies, with at least 67% of its assets in equity securities. The fund may use derivatives for efficient portfolio management (EPM), such as currency hedging, which is considered non-complex.  The fund seeks to track an index (MSCI World Index), so the replication method is assumed to be physical. The fund has a clearly defined objective and structure, which supports a non-complex classification. The risk profile is 6/7, which reflects market volatility but not structural complexity. There is no evidence of significant leverage, embedded derivatives, or opaque features that would classify the fund as complex. Securities lending is used but this is a secondary feature of the fund. The fund's use of derivatives is limited to efficient portfolio management. The fund's structure and risks are straightforward and easily understood by retail investors with basic knowledge.  This aligns with the MiFID II guidelines for non-complex UCITS ETFs."
    }
}