{
    "fund_name": "HSBC MSCI PACIFIC ex JAPAN 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 to track the MSCI Pacific ex Japan Index, with no leverage or inverse exposure. While it may use derivatives for efficient portfolio management (up to 10% of assets in total return swaps and CFDs), this is within standard ETF practices and does not create complexity. The fund's risk profile is straightforward, with risks primarily tied to equity market movements. The absence of capital protection mechanisms, structured products, or complex underlying assets further supports the non-complex classification. The fund's UCITS compliance and transparent structure align with typical non-complex ETFs.",
    "confidence": 95
}