{
    "fund_name": "L&G Japan Equity 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 L&G Japan Equity UCITS ETF is a physically replicated ETF that tracks the Solactive Core Japan Large & Mid Cap USD Index NTR. The KIID and PRIIPs KID documents confirm that the fund uses physical replication (full replication) and does not employ derivatives, swaps, or leverage. The fund's investment objective is straightforward, aiming to track the performance of a broad Japanese equity index. The risk profile is rated 6, which is within the typical range for equity ETFs and does not indicate complexity. The fund does not have any capital protection mechanisms or structured features that would trigger a complexity classification. The underlying assets are liquid, transparent Japanese equities, and the fund does not invest in complex securities like contingent convertible bonds or CLOs. The replication method is physical, and the fund does not use synthetic replication or derivatives for tracking the index. The PRIIPs KID does not contain any comprehension warnings or indications of complexity. The fact sheet further confirms the physical replication method and the straightforward nature of the fund's investment strategy.",
    "confidence": 95
}