{
    "fund_name": "Amundi Global Equity Quality Income UCITS ETF GBP Hedged Acc",
    "type": "ETF",
    "ucits": true,
    "replication_method": "synthetic",
    "leverage": false,
    "derivatives": true,
    "swaps": true,
    "inverse": false,
    "complex_factors": [
        "Synthetic replication using swaps",
        "Counterparty risk exposure"
    ],
    "classification": "complex",
    "supporting_data": "The ETF uses synthetic replication via an over-the-counter swap contract (FDI) to track the SG Global Quality Income NTR Index. This introduces counterparty risk with entities like Morgan Stanley Bank AG and Societe Generale, which is explicitly mentioned in the KIID and factsheet. The presence of swap agreements and the associated counterparty risk are key indicators of complexity under MiFID II. Additionally, the ETF's use of currency hedging and the potential for tracking error further contribute to its classification as complex.",
    "confidence": 90,
    "counterparty_risk": true,
    "hedging_strategy": "GBP currency hedging",
    "benchmark_complexity": "Moderate (global equity index with quality and income focus)",
    "liquidity_risk": "Moderate (dependent on market makers and underlying index liquidity)",
    "risk_profile": "SRRI level 4-5 (moderate to high risk)",
    "cost_structure": "Ongoing charges 0.45%, no performance fees, standard ETF cost structure"
}