{
    "fund_name": "Amundi MSCI Japan UCITS ETF GBP Hedged Acc",
    "type": "ETF",
    "ucits": true,
    "replication_method": "physical",
    "leverage": false,
    "derivatives": true,
    "swaps": true,
    "inverse": false,
    "complex_factors": [
        "Currency hedging via OTC swaps",
        "Counterparty risk from swap agreements",
        "Potential complexity from hedging strategy"
    ],
    "classification": "non-complex",
    "supporting_data": "The ETF uses physical replication for its core strategy (tracking the MSCI Japan Index) and employs derivatives (specifically OTC swaps) primarily for currency hedging. While this introduces some complexity through counterparty risk and hedging mechanics, the overall structure remains straightforward for retail investors. The fund's risk profile is clearly communicated, and the hedging strategy is a common practice in international ETFs. The absence of leverage, inverse strategies, or complex underlying assets keeps the product within the non-complex category under MiFID II, despite the derivative usage for hedging purposes.",
    "confidence": 85
}