You are extracting structured evidence for a UK MiFID II complex asset assessment of an Investment Trust or Investment Company security.

You must return one valid JSON object only. Do not include markdown. Do not include commentary outside JSON.

Important:
- Your role is extraction, not final policy classification.
- Extract evidence conservatively.
- Do not classify merely because the product is an Investment Trust.
- Ordinary listed Investment Trust ordinary shares are not automatically complex.
- Do not treat private equity, infrastructure, property, renewable energy, broad alternatives, premium/discount to NAV, ordinary borrowing, or ordinary closed-ended fund structure as hard complex triggers by themselves.
- Free-format underlying text should be used as evidence only. Where the text is vague, set underlying_complexity_level to "unclear" or "amber" rather than guessing.
- Mark hard complexity signals true only where the documents clearly support them.
- For any hard complexity signal, provide at least one supporting_evidence item with the same signal name.
- If you cannot quote or clearly identify text supporting a hard complexity signal, set that signal to false or null.
- Do not mark derivatives_core_strategy true merely because the document mentions efficient portfolio management, hedging, currency hedging, cash management, risk reduction or ordinary portfolio management.
- Mark derivatives_epm_only true if derivative use appears limited to efficient portfolio management, hedging, currency management or risk reduction.
- Mark derivatives_core_strategy true if derivatives appear central to generating the product return, synthetic exposure, leverage, inverse exposure, structured payoff, option strategy, volatility strategy or investment objective.
- Gearing should be extracted as a data point. Gearing above 20% is a review signal, above 30% is a strong review signal, and above 50% may indicate structural leverage. Do not automatically call ordinary borrowing complex.
- Liquidity, market size, trading volume and spread are exitability/risk indicators. Do not automatically mark complex merely because the trust is small or thinly traded. Mark liquidity_failure true only where there is suspension, matched bargain only, specialist-only dealing, no active public market, no meaningful disposal opportunity, or similar language.
- PRIIPs comprehension alerts are important. Search for wording like "You are about to purchase a product that is not simple and may be difficult to understand". Treat this as a signal, not final classification.
- Identify the exact security line where possible: ordinary_share, preference_share, zero_dividend_preference_share, subscription_share, warrant, split_capital_share, c_share, debt_or_note, unknown.
- Non-standard security lines such as ZDPs, warrants, subscription shares and split-capital classes are potentially complex even where the issuer is an Investment Trust.
- Do not set crypto_digital_asset_exposure true merely because the document contains "digital", "electronic", "dematerialised" or similar generic wording. Set it true only for exposure to cryptoassets, cryptocurrencies, Bitcoin, Ether/Ethereum, blockchain assets or similar crypto instruments.
- Do not set inverse=true unless the document states inverse, short, bear, negative, -1x, -2x, -3x or opposite exposure as an investment objective. Do not infer inverse from generic risk language.
- Do not set leveraged_or_inverse_objective true merely because ordinary gearing exists. It means the investment objective is leveraged or inverse, not that the trust has normal borrowings.

Return exactly this JSON structure:

{
  "fund_name": null,
  "isin": null,
  "type": "INVESTMENT_TRUST",
  "security_line_type": null,
  "ordinary_share_like": null,
  "asset_class": null,
  "aic_sector_or_sector": null,
  "investment_objective_summary": null,
  "investment_policy_summary": null,
  "gearing": {
    "net_gearing_percent": null,
    "gross_gearing_percent": null,
    "borrowings_or_debt_summary": null,
    "gearing_source_phrase": null,
    "gearing_band": null
  },
  "nav_and_market": {
    "discount_or_premium_percent": null,
    "nav_frequency_or_phrase": null,
    "market_cap": null,
    "average_daily_value_traded": null,
    "bid_offer_spread_percent": null,
    "trading_status": null
  },
  "underlying_assessment": {
    "source_type": "free_text_disclosure",
    "mapped_to_definitive_taxonomy": false,
    "detected_categories": [],
    "underlying_complexity_level": null,
    "underlying_summary": null,
    "limitation": "Underlying exposure is inferred from disclosure text and has not been validated against a holdings-level taxonomy."
  },
  "signals": {
    "ordinary_listed_it_share": null,
    "non_standard_security_line": null,
    "zero_dividend_preference_share": null,
    "subscription_share_or_warrant": null,
    "split_capital_share_class": null,
    "preference_share": null,
    "c_share": null,
    "structured_payoff": null,
    "capital_protection": null,
    "leveraged_or_inverse_objective": null,
    "inverse": null,
    "derivatives_mentioned": null,
    "derivatives_core_strategy": null,
    "derivatives_epm_only": null,
    "swaps_or_synthetic_strategy": null,
    "options_or_volatility_strategy": null,
    "structural_leverage": null,
    "high_gearing_review": null,
    "very_high_gearing_review": null,
    "private_equity_or_unlisted_assets": null,
    "private_credit_or_direct_lending": null,
    "structured_credit_or_clo_exposure": null,
    "catastrophe_ils_exposure": null,
    "crypto_digital_asset_exposure": null,
    "life_settlements": null,
    "litigation_finance": null,
    "illiquid_or_hard_to_value_underlying": null,
    "liquidity_failure": null,
    "poor_liquidity_review": null,
    "continuation_vote_or_windup_language": null,
    "priips_comprehension_alert": null
  },
  "complex_factors": [],
  "non_complex_factors": [],
  "review_factors": [],
  "supporting_evidence": [
    {
      "source": "PRIIPS_KID|FACTSHEET|MARKET_DATA",
      "signal": "short_signal_name",
      "quote": "short exact quote or close extracted phrase"
    }
  ],
  "missing_or_unclear": [],
  "extraction_notes": ""
}

Assessment context:
ISIN: {{ISIN}}
Policy mode requested by caller: {{POLICY_MODE}}

PRIIPS KID TEXT:
{{PRIIPS_TEXT}}

FACTSHEET TEXT:
{{FACTSHEET_TEXT}}

MARKET / FALLBACK DATA:
{{MARKET_DATA_TEXT}}