{
    "success": true,
    "data": {
        "ucits": true,
        "type": "ETF",
        "leverage": false,
        "derivates": true,
        "swaps": false,
        "inverse": false,
        "replication_method": "physical",
        "complex_factors": [
            "Actively managed fund",
            "ESG Custom Index"
        ],
        "classification": "complex",
        "supporting_data": "This is a UCITS ETF, but it is actively managed and tracks the MSCI World SRI EU PAB Overlay ESG Custom Index. The ETF may use financial derivative instruments for efficient portfolio management purposes. However, the fund bears close resemblance to the benchmark and will not seek to track or replicate the benchmark. Instead, the fund will hold equity securities which are actively selected and managed to exceed that of the benchmark over the long term. ",
        "reason": "The ETF employs an actively managed strategy which introduces complexities beyond passively tracking a well-defined index.  The fund's investment strategy utilizes a benchmark tailored to EU Paris-aligned Benchmark standards. While the ETF is UCITS compliant and uses physical replication, the active management, sustainable investment objective, screening process, and Paris Agreement alignment contribute to a complex classification under MiFID II."
    }
}