{
    "ucits": true,
    "type": "ETF",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "replication_method": "physical",
    "complex_factors": "",
    "classification": "non-complex",
    "supporting_data": "The UBS (Lux) Fund Solutions - MSCI World Socially Responsible UCITS ETF is a UCITS-compliant ETF, which under MiFID II is generally presumed non-complex due to strict regulatory requirements ensuring diversification, liquidity, and transparency. The fund uses physical replication or direct investments in the underlying securities of the MSCI World SRI Low Carbon Select 5% Issuer Capped Index, with derivatives only used potentially for efficient portfolio management (EPM) purposes, not as an integral part of the investment strategy. The fund explicitly states it will not engage in securities lending, and there is no indication of leverage beyond UCITS limits. The risk profile is high due to equity market volatility but this does not imply structural complexity. The fund's structure, risks, and payoff are straightforward and transparent, suitable for retail investors with basic knowledge. There is no evidence of embedded derivatives, synthetic replication, or complex features such as contingent convertible bonds or structured products. Therefore, it meets the criteria under MiFID II Article 25(4)(a)(iv) and Article 57 of the Delegated Regulation for non-complex classification. This aligns with ESMA guidance that UCITS ETFs with physical replication and limited derivative use for EPM are non-complex. Consequently, no appropriateness assessment or comprehension alert is required for retail investors investing in this ETF."
}