{
    "success": true,
    "data": {
        "ucits": true,
        "type": "ETF",
        "leverage": false,
        "derivates": true,
        "swaps": true,
        "inverse": false,
        "replication_method": "synthethic",
        "complex_factors": "Synthetic replication using derivatives (total return swaps), currency hedging with derivatives, and the potential use of total return swaps introduces counterparty risk, collateral risk and opacity.",
        "classification": "complex",
        "supporting_data": "The HSBC MSCI CHINA A UCITS ETF uses total return swaps, which are derivatives, to replicate the index's performance. While it also invests in physical holdings of the underlying, the use of swaps for replication is central to the investment strategy. The KID discloses the use of total return swaps and also contains a currency hedging strategy.The fund may enter into securities lending transactions for up to 30% of its assets. The index itself is composed of China A shares. Given the dependence on derivatives for replication and for currency hedging, the structure and risks are not easily understood by retail investors without specific financial knowledge. The use of derivatives is integral to achieving the investment objective, introducing counterparty risk and collateral risk making the fund complex per MiFID II. The fund itself tracks an index that is itself is not transparent or simple."
    }
}