{
    "ucits": true,
    "type": "ETF",
    "replication_method": "physical",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "complex_factors": "None",
    "classification": "non-complex",
    "supporting_data": "The L&G China CNY Bond UCITS ETF is a UCITS-compliant, physically replicated ETF tracking a transparent, ESG-screened index of Chinese government and policy bank bonds. It primarily invests directly in the underlying bonds, with no evidence of synthetic replication, significant derivative use, leverage, swaps, or complex embedded features. The ETF does not use derivatives for replication or as a core part of its strategy; any use of financial derivative instruments (FDIs) is limited and ancillary, not central to achieving the fund's objective. The structure, risks (e.g., credit, currency, liquidity, regulatory), and investment policy are clearly disclosed and typical for a fixed income UCITS ETF. There is no indication of contingent convertible bonds, complex indices, or other features that would make the product difficult for a retail investor with basic knowledge to understand. The ETF is not leveraged beyond temporary UCITS limits, does not offer capital protection, and does not have opaque or complex payout structures. Therefore, it meets the criteria for a non-complex UCITS ETF under MiFID II Article 25(4)(a)(iv) and Article 57 of the Delegated Regulation, as it is transparent, liquid, and does not embed derivatives or other complex features that would trigger a complex classification[1]."
}