{
    "ok": true,
    "_meta": {
        "isin": "IE0001CEGCP5",
        "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": "2026-06-25T21:30:47+00:00",
        "captured_unix": 1782423047
    },
    "classification": "non-complex",
    "confidence": 0.82,
    "review_required": false,
    "decision_rule_applied": "etf_ucits_physical_no_complex_override_rule",
    "product_policy_branch": "ETF",
    "fund_name": "Robeco 3D Global Equity UCITS ETF GBP(H) Acc",
    "isin": "IE0001CEGCP5",
    "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": true,
        "swaps": false,
        "funded_swap": false,
        "unfunded_swap": false,
        "synthetic_replication": false,
        "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": false,
        "illiquid_or_hard_to_value_underlying": true,
        "physical_allocated_commodity": false,
        "crypto_digital_asset": false
    },
    "complex_factors": [],
    "non_complex_factors": [
        "UCITS fund",
        "Physical replication",
        "No leverage identified",
        "No inverse exposure identified",
        "Derivative use appears limited to EPM, hedging, or risk management"
    ],
    "consumer_understanding": {
        "risk_level": "moderate",
        "drivers": [
            "Less liquid or harder-to-value underlying exposure language",
            "Counterparty risk language identified",
            "Derivative use appears limited to efficient portfolio management, hedging or risk management",
            "UCITS ETF structure",
            "Physical replication or direct portfolio holdings"
        ],
        "plain_english_explanation": "The product is identified as a UCITS ETF using physical replication or direct portfolio holdings. No leverage, inverse exposure, synthetic replication or structured payoff was identified. Derivative language appears limited to efficient portfolio management, hedging or risk-management style use rather than being the core investment exposure. Some ordinary market, credit, duration, liquidity or counterparty-risk language may still be present, but this does not by itself make the product complex.",
        "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": "derivatives_mentioned",
            "quote": "The fund may use financial derivatives."
        },
        {
            "source": "KIID",
            "signal": "derivatives_epm_only",
            "quote": "For the management of the Sub-fund, expectations of currency returns will be taken into consideration when making country allocations/stock selection"
        },
        {
            "source": "KIID",
            "signal": "counterparty_risk",
            "quote": "A derivative counterparty may fail to fulfill its obligations which could result in a loss. Counterparty risk is reduced via the exchange of collateral."
        },
        {
            "source": "KIID",
            "signal": "illiquid_or_hard_to_value_underlying",
            "quote": "The fund invests in assets that could become less liquid in certain market conditions, which could have a significant impact on the value of these assets."
        },
        {
            "source": "KIID",
            "signal": "ucits",
            "quote": "This fund is a subfund of Robeco UCITS, ICAV"
        },
        {
            "source": "PRIIPS_KID",
            "signal": "ucits",
            "quote": "Irish Collective Asset-management Vehicle \u2013 Undertaking for Collective Investments in Transferable Securities under Irish law."
        }
    ],
    "supporting_data": "UCITS physical ETF baseline applied. Policy mode: strict. Product type: ETF. UCITS signal identified. Replication method: physical.",
    "missing_data": [
        "factsheet",
        "No explicit mention of securities lending or PRIIPs comprehension alert."
    ],
    "warnings": [
        "illiquid_or_hard_to_value_underlying_identified",
        "counterparty_risk_language_identified"
    ],
    "sources": {
        "kiid": {
            "url": "https://oppl.ai/apy/doc_store/IE0001CEGCP5_KIID.txt",
            "found": true,
            "http_code": 200,
            "bytes": 6972,
            "error": null
        },
        "priips_kid": {
            "url": "https://oppl.ai/eu_kiids/en_txt/IE0001CEGCP5.txt",
            "found": true,
            "http_code": 200,
            "bytes": 13810,
            "error": null
        },
        "factsheet": {
            "url": "https://oppl.ai/apy/doc_store/IE0001CEGCP5_FS.txt",
            "found": false,
            "http_code": 404,
            "bytes": 1251,
            "error": "http_404"
        },
        "market_data": {
            "url": "https://api.londonstockexchange.com/api/gw/lse/search/autocomplete?q=IE0001CEGCP5&size=3",
            "found": true,
            "http_code": 200,
            "bytes": 304,
            "error": null
        }
    }
}