{
    "success": true,
    "data": {
        "ucits": true,
        "type": "ETF",
        "leverage": false,
        "derivates": false,
        "swaps": false,
        "inverse": false,
        "replication_method": "physical",
        "complex_factors": "The ETF uses physical replication, tracks a transparent index (Solactive Core United Kingdom Large & Mid Cap Index NTR), and does not use derivatives or leverage. Structure and risks are straightforward for retail investors.",
        "classification": "non-complex",
        "supporting_data": "Based on the Key Investor Information Document (KIID) and ESMA guidelines, the L&G UK Equity UCITS ETF is classified as non-complex. It uses physical replication to track a transparent index. Derivatives are not used as an inherent element to the fund strategy, rather for portfolio management. Therefore it does not meet any of the criteria for being a complex asset. As it is a UCITS compliant ETF there is a presumption of non complexity. The KIID states the ETF's objective, structure, and risks are straightforward, aligning with the definition of a non-complex ETF. There is no mention of derivatives being used as central to the strategy, and no use of leverage or complex indices. The fund's risk profile, while high, reflects market volatility and not structural complexity."
    }
}