{
    "ucits": true,
    "type": "ETF",
    "leverage": false,
    "derivatives": true,
    "swaps": true,
    "inverse": false,
    "replication_method": "physical",
    "complex_factors": "Derivatives for efficient portfolio management and investment purposes, up to 10% in total return swaps and contracts for difference, securities lending up to 30% of assets, high concentration risk, emerging markets risk, exchange rate risk, index tracking risk, liquidity risk, operational risk, counterparty risk",
    "supporting_data": "The ETF is a UCITS-compliant, physically replicating fund tracking the MSCI Indonesia Index. It may use derivatives (including total return swaps and contracts for difference) for efficient portfolio management and investment purposes, but not as a core replication strategy. Securities lending is permitted up to 30% of assets. The fund is highly concentrated in a limited number of securities, introducing additional volatility and risk. The fund is listed and redeemable daily, with transparent pricing. The underlying index is transparent and the fundu2019s structure is straightforward, but the use of derivatives (even if limited) and the high concentration risk mean the productu2019s risk profile is not entirely straightforward for a retail investor with basic knowledge. Under MiFID II, UCITS are generally non-complex, but the use of derivatives (even for EPM) and the fundu2019s concentration risk could, in some interpretations, introduce complexity that requires an appropriateness assessment, especially given ESMAu2019s focus on derivative use and counterparty risk. However, the fund does not use leverage beyond UCITS limits, does not embed complex options or capital protection features, and does not track a complex or opaque index.",
    "classification": "non-complex"
}