{
    "success": true,
    "data": {
        "ucits": true,
        "type": "ETF",
        "leverage": false,
        "derivates": true,
        "swaps": true,
        "inverse": false,
        "replication_method": "synthethic",
        "complex_factors": [
            "Currency Hedging using Forwards",
            "Use of Derivatives for index tracking",
            "Counterparty Risk from OTC derivatives"
        ],
        "classification": "complex",
        "supporting_data": "This ETF is UCITS compliant and aims to track the MSCI Japan 100% hedged to GBP Index (Net Return). While it invests predominantly in shares, transferable securities, and money market instruments it is synthetically replicating the index through use of derivatives, especially where direct replication is not possible. The fund uses currency forwards for hedging, leading to counterparty risk mitigated by collateral. Securities lending transactions are allowed, adding further risk factors. The use of derivatives to achieve its investment objective and hedge currency fluctuations increases complexity and therefore is not easily understood by retail investors. Therefore a MiFID II comprehension alert should be triggered. Any fund which requires an understanding of embedded derivatives or Collateralisation will require the asset to be 'Complex'.",
        "complex": true,
        "non-complex": false
    }
}