{
    "success": true,
    "data": {
        "complex": "complex",
        "leverage": false,
        "derivates": true,
        "swaps": true,
        "inverse": false,
        "replication_method": "synthethic",
        "ucits": true,
        "type": "ETF",
        "complex_factors": "Synthetic replication via OTC swap contracts introducing counterparty risk. The fund uses FDI to track the Benchmark Index, introducing potential risks difficult for retail investors to understand.",
        "classification": "complex",
        "supporting_data": "The AMFund MSCI Turkey UCITS ETF Acc uses synthetic replication via over-the-counter (OTC) swap contracts (FDI) to track the MSCI Turkey Net Total Return Index. This method introduces counterparty risk and the potential for collateral risk. This structure with the use of Swaps makes the risks opaque to a retail investor with basic knowledge, which is the target audience for the KID, resulting in a complex classification. The fund does not physically hold the underlying assets, but rather exchanges performance via derivatives.  Additionally, ESMA (as of the guidance dated April 4, 2019) often classifies derivative use as complex even for EPM."
    }
}