{
    "fund_name": "Amundi Global Aggregate Green Bond 1-10Y UCITS ETF GBP Hedged Dist",
    "type": "ETF",
    "ucits": true,
    "replication_method": "physical",
    "leverage": false,
    "derivatives": true,
    "swaps": true,
    "inverse": false,
    "complex_factors": [
        "Green Bond Index Complexity",
        "Currency Hedging via Swaps",
        "Counterparty Risk from Swaps"
    ],
    "classification": "complex",
    "supporting_data": "The ETF uses physical replication for the underlying green bonds but employs derivatives (specifically swaps) for currency hedging. While the core strategy is straightforward, the use of swaps introduces counterparty risk and potential complexity in understanding the hedging mechanism. The Bloomberg MSCI Global Green Bond 1-10 Year Index itself may involve complex screening criteria for green bonds, adding another layer of potential complexity. The fact that the ETF uses swaps with specific counterparties (Morgan Stanley Bank AG, Societe Generale) and engages in securities lending further supports the classification as complex under MiFID II. The risk disclosures in the KIID and PRIIPs KID highlight counterparty risk and derivative-related risks, which are key indicators of complexity.",
    "confidence": 85
}