{
    "fund_name": "L&G MSCI Europe Climate Pathway UCITS ETF",
    "type": "ETF",
    "ucits": true,
    "replication_method": "physical",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The ETF uses physical replication with optimised sampling techniques to track the MSCI ACWI Select Climate 500 Index  Europe Subset. It does not employ leverage, inverse strategies, or synthetic replication. While it may use financial derivative instruments (FDIs) for efficient portfolio management, these are not used in a way that introduces significant additional risk or complexity. The risk profile is rated 6, but this is primarily due to market risks rather than structural complexity. The ETF is UCITS-compliant, which generally aligns with non-complex classifications under MiFID II. The KIID and factsheet do not indicate any features that would typically classify the ETF as complex, such as capital protection mechanisms, structured products, or significant counterparty risks.",
    "confidence": 95,
    "risk_level": 6,
    "counterparty_risk": false,
    "illiquid_assets": false,
    "capital_protection": false,
    "structured_features": false,
    "comprehension_warning": false,
    "additional_notes": "The ETF promotes environmental and social characteristics but does not use complex financial instruments or strategies that would trigger a 'complex' classification under MiFID II. The use of derivatives is limited to efficient portfolio management and does not introduce material additional risks."
}