{
    "complex": false,
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "replication_method": "physical",
    "ucits": true,
    "type": "ETF",
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The L&G Gerd Kommer Multifactor Equity UCITS ETF is classified as non-complex under MiFID II based on the following analysis: 1. Replication Method: The fund uses physical replication with optimised sampling, which is a straightforward approach. 2. Derivative Usage: There is no mention of synthetic replication, swaps, or derivative instruments in the KIID or PRIIPs KID. The fact sheet confirms physical replication. 3. Leverage/Inverse Exposure: No leverage or inverse exposure is mentioned. 4. Underlying Assets: The fund invests in equity securities of developed and emerging market companies, with no mention of complex structured products or illiquid assets. 5. Risk Profile: The fund is rated 6/7, which is moderate risk, and there are no capital protection mechanisms or complex structured features. 6. Costs: The ongoing charge is 0.50%, with no performance fees or complex fee structures. 7. UCITS Compliance: The fund is UCITS-compliant, which inherently limits complexity. The absence of derivatives, leverage, or complex structures, combined with the physical replication method and moderate risk profile, supports the non-complex classification.",
    "confidence": 95
}