{
    "fund_name": "Tabula FTSE Indian Government Bond Short Duration UCITS ETF",
    "type": "ETF",
    "ucits": true,
    "replication_method": "physical",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "complex_factors": [
        "Emerging market exposure",
        "FAR route complexity",
        "Counterparty risk"
    ],
    "classification": "non-complex",
    "supporting_data": "The ETF uses physical replication with a sampling strategy to track the FTSE Indian Government Bond FAR Short Duration Capped Index. While it holds sovereign bonds from India (an emerging market), the primary risk factors are credit risk, liquidity risk, and emerging market risks rather than derivative or synthetic replication complexity. The use of derivatives is limited and for direct investment purposes, not for leverage or synthetic replication. The fund is UCITS-compliant, which inherently imposes strict risk and liquidity requirements. The index itself is straightforward, focusing on short-duration Indian government bonds with investment-grade ratings. The absence of leverage, inverse strategies, or complex structured features supports the non-complex classification. The main complexity considerations are the emerging market exposure and the FAR route, but these do not trigger a 'complex' classification under MiFID II.",
    "confidence": 90
}