{
    "success": true,
    "data": {
        "ucits": true,
        "type": "ETF",
        "leverage": false,
        "derivates": true,
        "swaps": true,
        "inverse": false,
        "replication_method": "synthetic",
        "complex_factors": [
            "Derivatives",
            "Synthetic Replication",
            "ESG Index screens out at least 20% of the securities",
            "Swaps"
        ],
        "classification": "complex",
        "supporting_data": "The ETF is UCITS compliant, but it employs synthetic replication using derivatives to track the MSCI Pacific SRI Low Carbon Select 5% Issuer Capped Index (Net Return). While derivatives might be used for efficient portfolio management, their integral use in replicating the index's performance introduces counterparty risk and collateral risk. The data states: The Fund is passively managed and will take proportionate exposure on the components of the MSCI Pacific SRI Low Carbon Select 5% Issuer Capped Index (Net Return) either through direct investments in all or substantially all of the component securities and/or through the use of derivatives in particular where it may not be possible or practicable to replicate the index through direct investments or in order to generate efficiencies in gaining exposure to the index.This complexity makes it difficult for retail investors to understand the ETF's structure, risks, and payoff. Also, the the Fund screens out at least 20% of the least well-rated securities, which can make the index more complex. The fund will invest its net assets predominantly in shares, transferable securities, money market instruments, units of undertakings for collective investment, deposits with credit institutions, structured notes listed or dealt in on a regulated market and other assets eligible under the prospectus."
    }
}