{
    "success": true,
    "data": {
        "ucits": true,
        "type": "ETF",
        "leverage": false,
        "derivates": false,
        "swaps": false,
        "inverse": false,
        "replication_method": "physical",
        "complex_factors": "Currency Hedging might introduce counterparty risks, Derivatives for risk reduction or income generation",
        "classification": "non-complex",
        "supporting_data": "The ETF is UCITS compliant and aims to track the MSCI Australia 100% hedged to GBP Index using a physical replication method by holding all the shares of the index. It reduces the impact of currency fluctuations between any foreign currency to the Index currency is reduced by selling foreign currency forwards at one month forward rate in line with the currency version of the Index. Derivatives may be used for reducing risk or generating additional capital or income, and securities lending transactions may occur. Despite the risk category 6 reflecting high volatility due to equity investments and the use of currency hedging, the ETF's structure aligns with a non-complex classification.The fund will seek to hold all of the shares of the Index, in the sameThe impact of currency fluctuations between any foreign currency to the proportions as the Index, so that essentially the portfolio of the Fund will be a near mirror image of the Index. In seeking to implement its investment Index currency is reduced by selling foreign currency forwards at one month objective of tracking the performance of the Index, the Fund may also in forward rate in line with the currency version of the Index.",
        "complex": false,
        "non-complex": true,
        "reason": "This UCITS ETF primarily uses physical replication to track an index, which is generally considered non-complex. While it may use derivatives for efficient portfolio management (EPM) to reduce risk, this is typical of UCITS ETFs and doesn't automatically make it complex unless the derivative use is integral to achieving the investment objective or introduces significant counterparty risk. Additionally, the ETF uses currency hedging. Since the derivatives are used to hedge exposure or reduce risk, this is unlikely to render the ETF complex."
    }
}