{
    "fund_name": "AMUNDI MSCI EM ASIA UCITS ETF - EUR",
    "type": "ETF",
    "ucits": true,
    "replication_method": "synthetic",
    "leverage": false,
    "derivatives": true,
    "swaps": true,
    "inverse": false,
    "complex_factors": [
        "Synthetic replication using total return swaps",
        "Counterparty risk exposure",
        "Complex index tracking (MSCI Emerging Markets Asia)"
    ],
    "classification": "complex",
    "supporting_data": "The ETF uses synthetic replication via total return swaps, which introduces counterparty risk and requires understanding of derivative instruments. The MSCI Emerging Markets Asia index itself may contain complex components, and the use of swaps for replication rather than physical holding of securities increases the complexity. While the fund is UCITS-compliant and has a straightforward equity exposure, the synthetic structure and derivative usage meet MiFID II criteria for complexity. The fact sheet confirms the synthetic replication method and swap usage, while the KIID highlights counterparty risk as a material risk factor.",
    "confidence": 85
}