{
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    "_meta": {
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        "asset_scope": "UK_COMPLEX_ASSET",
        "policy_mode": "balanced",
        "policy_mode_description": "UCITS ETFs usually start from a non-complex baseline, but product-level complexity such as synthetic replication, swaps, leverage, inverse exposure, complex debt, commodity roll exposure, or comprehension warnings can override that baseline.",
        "classification_engine_version": "1.0.0",
        "prompt_version": "complex_asset_extract_v1",
        "captured_at_utc": "2026-06-18T10:43:52+00:00",
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    "confidence": 0.93,
    "review_required": false,
    "decision_rule_applied": "etf_coco_or_at1_exposure_hard_complex_rule",
    "product_policy_branch": "ETF",
    "fund_name": "HSBC Global Funds ICAV - Euro Government Bond UCITS ETF",
    "isin": "IE00066KZ5B5",
    "type": "ETF",
    "ucits": true,
    "asset_class": "Fixed Income (Government Bonds)",
    "replication_method": "physical",
    "signals": {
        "leveraged": false,
        "inverse": false,
        "derivatives_mentioned": true,
        "derivatives_core_strategy": false,
        "derivatives_epm_only": true,
        "swaps": false,
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        "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": true,
        "clo_exposure": false,
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        "securities_lending": true,
        "illiquid_or_hard_to_value_underlying": false,
        "physical_allocated_commodity": false,
        "crypto_digital_asset": false
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        "No inverse exposure identified"
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            "Loss absorption, conversion or write-down mechanics may be difficult to understand",
            "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",
            "Fixed income credit and duration risk"
        ],
        "plain_english_explanation": "The product appears to have exposure to CoCo or AT1-style instruments. These can be difficult to understand because they may include loss absorption, conversion or write-down mechanics that behave differently from ordinary bonds.",
        "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."
    },
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            "signal": "derivatives_mentioned",
            "quote": "The Fund may also invest in derivatives for hedging and efficient portfolio management purposes"
        },
        {
            "source": "KIID",
            "signal": "derivatives_epm_only",
            "quote": "The Fund may also invest in derivatives for hedging and efficient portfolio management purposes"
        },
        {
            "source": "KIID",
            "signal": "securities_lending",
            "quote": "The Fund may enter into securities lending transactions for up to 30% of its assets."
        },
        {
            "source": "KIID",
            "signal": "counterparty_risk",
            "quote": "Counterparty Risk The possibility that the counterparty to a transaction may be unwilling or unable to meet its obligations."
        }
    ],
    "supporting_data": "Hard complex product feature identified: CoCo or AT1 bond exposure. Policy mode: balanced. Product type: ETF. UCITS signal identified. Replication method: physical.",
    "missing_data": [
        "PRIIPS KID was provided for a different product (Avantis America Equity UCITS ETF) and was therefore not used.",
        "No priips_comprehension_alert found in the KIID for this product."
    ],
    "warnings": [
        "counterparty_risk_language_identified"
    ],
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            "http_code": 200,
            "bytes": 14366,
            "error": null
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            "found": true,
            "http_code": 200,
            "bytes": 11403,
            "error": null
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        "market_data": {
            "url": "https://api.londonstockexchange.com/api/gw/lse/search/autocomplete?q=IE00066KZ5B5&size=3",
            "found": true,
            "http_code": 200,
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