{
    "name": "Amundi MSCI UK IMI SRI Climate Paris Aligned - UCITS ETF DR - EUR",
    "type": "ETF",
    "ucits": true,
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "replication_method": "physical",
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The ETF uses physical replication to track the MSCI UK IMI SRI Filtered PAB Index, which consists of liquid, large-cap UK equities with ESG filters. While derivatives may be used for efficient portfolio management (e.g., handling inflows/outflows), they are not a core part of the investment strategy. The fund has a straightforward objective, transparent holdings, and a clear risk profile (SRRI 4). The underlying index is well-defined and based on standard equity securities. The KIID and factsheet do not indicate any complex features such as leverage, inverse exposure, or capital protection mechanisms. The fund is UCITS-compliant, which generally aligns with non-complex classifications under MiFID II.",
    "confidence": 95,
    "risk_level": 4,
    "counter_argument": "Some might argue that the ESG and climate-aligned criteria add complexity, but these are disclosure-based and do not fundamentally alter the straightforward equity exposure. The use of derivatives for EPM (efficient portfolio management) is explicitly permitted under MiFID II without triggering complexity, provided they are not used for leverage or speculative purposes."
}