{
    "ucits": true,
    "type": "ETF",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "replication_method": "physical",
    "complex_factors": "None",
    "classification": "non-complex",
    "supporting_data": "The L&G India INR Government Bond UCITS ETF is a UCITS-compliant ETF, which is automatically classified as non-complex under MiFID II Article 25(4)(a)(iv), unless it is a structured UCITS or fails the Article 57 criteria[1]. The fund primarily uses physical replication to track a transparent, well-documented government bond index, holding the underlying securities in similar proportions to the index. While the fund may use financial derivative instruments (FDIs) for efficient portfolio management (EPM), such use is limited and not integral to the investment objective or strategy. There is no evidence of significant leverage, synthetic replication, embedded derivatives, or complex features such as swaps, contingent convertible bonds, or complex indices. The risks disclosed (e.g., currency, interest rate, liquidity, issuer default) are standard for bond ETFs and do not introduce structural complexity. The fundu2019s structure, objective, and risks are transparent and can be readily understood by a retail investor with basic knowledge. Therefore, the ETF meets all criteria for non-complex classification under MiFID II[1][2]."
}