{
    "ok": true,
    "_meta": {
        "isin": "FR0011475078",
        "asset_scope": "UK_COMPLEX_ASSET",
        "policy_mode": "strict",
        "policy_mode_description": "Any material derivative, swap, synthetic, complex underlying, structured payoff, roll-cost, leverage, inverse, or PRIIPs warning signal can drive complex classification.",
        "classification_engine_version": "1.0.0",
        "prompt_version": "complex_asset_extract_v1",
        "captured_at_utc": "2026-06-04T16:05:58+00:00",
        "captured_unix": 1780589158
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    "classification": "complex",
    "confidence": 0.88,
    "review_required": false,
    "decision_rule_applied": "strict_etf_swap_complex_rule",
    "product_policy_branch": "ETF",
    "fund_name": "AMUNDI Japan TOPIX II UCITS ETF EUR Hedged Dist",
    "isin": "FR0011475078",
    "type": "ETF",
    "ucits": true,
    "asset_class": "Equity",
    "replication_method": "physical",
    "signals": {
        "leveraged": false,
        "inverse": false,
        "derivatives_mentioned": true,
        "derivatives_core_strategy": false,
        "derivatives_epm_only": null,
        "swaps": true,
        "funded_swap": false,
        "unfunded_swap": false,
        "synthetic_replication": true,
        "counterparty_risk": true,
        "structured_payoff": false,
        "capital_protection": false,
        "commodity_futures_roll": false,
        "contango_backwardation": false,
        "coco_or_at1_exposure": false,
        "clo_exposure": false,
        "complex_index": false,
        "priips_comprehension_alert": false,
        "securities_lending": true,
        "illiquid_or_hard_to_value_underlying": true,
        "physical_allocated_commodity": false,
        "crypto_digital_asset": false
    },
    "complex_factors": [
        "Swap usage"
    ],
    "non_complex_factors": [
        "UCITS fund",
        "Physical replication",
        "No leverage identified",
        "No inverse exposure identified"
    ],
    "consumer_understanding": {
        "risk_level": "elevated",
        "drivers": [
            "Synthetic or swap-based exposure",
            "Counterparty exposure may be relevant to returns or risk",
            "Less liquid or harder-to-value underlying exposure language",
            "Counterparty risk language identified",
            "UCITS ETF structure",
            "Physical replication or direct portfolio holdings"
        ],
        "plain_english_explanation": "The product appears to use synthetic or swap-based exposure. This may be difficult for ordinary retail clients to understand because returns can depend not only on the referenced market exposure but also on derivative mechanics, collateral arrangements and counterparty risk.",
        "appropriateness_note": "This is a product-level indicator of features that may affect general investor understanding. It does not determine whether the product is appropriate for a specific client and does not replace a client-specific appropriateness assessment."
    },
    "supporting_evidence": [
        {
            "source": "KIID",
            "signal": "ucits",
            "quote": "This Fund is a passively managed index-tracking UCITS."
        },
        {
            "source": "KIID",
            "signal": "replication_method",
            "quote": "The Fund aims to achieve its objective through direct replication, i.e. by investing primarily in the components of the Benchmark Index."
        },
        {
            "source": "FACTSHEET",
            "signal": "type",
            "quote": "The Lyxor Japan (TOPIX) (DR) UCITS ETF ... is a UCITS compliant exchange traded fund"
        },
        {
            "source": "KIID",
            "signal": "securities_lending",
            "quote": "the Fund may use a sampling technique and guaranteed temporary sales of securities."
        },
        {
            "source": "KIID",
            "signal": "counterparty_risk",
            "quote": "Counterparty risk: The Fund is exposed to the risk of insolvency or other types of default of any counterparty with which it enters into an agreement or transaction, particularly in the case of financial derivative instruments traded over the counter or securities delivered under securities financing transactions."
        }
    ],
    "supporting_data": "ETF has evidenced swap usage. Policy mode: strict. Product type: ETF. UCITS signal identified. Replication method: physical.",
    "missing_data": [
        "Exact use of derivatives for currency hedging is not explicitly stated",
        "Nature of 'guaranteed temporary sales of securities' is unclear"
    ],
    "warnings": [
        "illiquid_or_hard_to_value_underlying_identified",
        "counterparty_risk_language_identified"
    ],
    "sources": {
        "kiid": {
            "url": "https://oppl.ai/apy/doc_store/FR0011475078_KIID.txt",
            "found": true,
            "http_code": 200,
            "bytes": 9556,
            "error": null
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        "priips_kid": {
            "url": "https://oppl.ai/eu_kiids/en_txt/FR0011475078.txt",
            "found": true,
            "http_code": 200,
            "bytes": 13085,
            "error": null
        },
        "factsheet": {
            "url": "https://oppl.ai/apy/doc_store/FR0011475078_FS.txt",
            "found": true,
            "http_code": 200,
            "bytes": 17263,
            "error": null
        },
        "market_data": {
            "url": "https://api.londonstockexchange.com/api/gw/lse/search/autocomplete?q=FR0011475078&size=3",
            "found": true,
            "http_code": 200,
            "bytes": 365,
            "error": null
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}