{
    "fund_name": "AMUNDI GLOBAL AGGREGATE BOND - UCITS ETF DR - GBP HEDGED",
    "type": "ETF",
    "ucits": true,
    "replication_method": "physical",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "complex_factors": [
        "Global bond index tracking",
        "Currency hedging",
        "Potential use of derivatives for efficient portfolio management"
    ],
    "classification": "non-complex",
    "supporting_data": "The ETF uses physical replication to track the Bloomberg Global Aggregate Index, which is a broad bond index. While it may use derivatives for efficient portfolio management (e.g., hedging or managing inflows/outflows), there is no indication of leverage, inverse strategies, or synthetic replication. The risk profile is typical for a bond ETF, and the use of derivatives appears to be for standard portfolio management rather than creating additional complexity. The ETF is UCITS-compliant, which typically aligns with non-complex classifications under MiFID II. The fact sheet confirms physical replication and does not mention swap usage beyond standard hedging. The index itself is a mainstream bond index, not a complex or illiquid one.",
    "confidence": 90
}