{
    "ok": true,
    "_meta": {
        "isin": "IE0006FBEDB6",
        "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": "2026-06-29T18:27:56+00:00",
        "captured_unix": 1782757676
    },
    "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": "JPM Global ex US Research Enhanced Index Equity Active UCITS ETF - USD (acc)",
    "isin": "IE0006FBEDB6",
    "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": false,
        "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": false,
        "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": "low",
        "drivers": [
            "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": "fund_name",
            "quote": "JPM Global ex US Research Enhanced Index Equity Active UCITS ETF - USD (acc)"
        },
        {
            "source": "KIID",
            "signal": "isin",
            "quote": "ISIN: IE0006FBEDB6"
        },
        {
            "source": "KIID",
            "signal": "ucits",
            "quote": "JPMorgan ETFs (Ireland) ICAV \u2013 Global ex US Research Enhanced Index Equity Active UCITS ETF"
        },
        {
            "source": "KIID",
            "signal": "replication_method",
            "quote": "the Sub-Fund will hold a portfolio of equity securities (which may include but will not be limited to Benchmark Securities) which is actively selected and managed"
        },
        {
            "source": "KIID",
            "signal": "derivatives_mentioned",
            "quote": "The Sub-Fund may, for efficient portfolio management purposes, use financial derivative instruments (\"FDI\")."
        },
        {
            "source": "KIID",
            "signal": "derivatives_epm_only",
            "quote": "The Sub-Fund may, for efficient portfolio management purposes, use financial derivative instruments (\"FDI\")."
        },
        {
            "source": "KIID",
            "signal": "asset_class",
            "quote": "the Sub-Fund aims to invest at least 67% of its assets ... in equity securities of companies"
        },
        {
            "source": "PRIIPS_KID",
            "signal": "type",
            "quote": "This product is a UCITS exchange traded fund or \"UCITS ETF\"."
        }
    ],
    "supporting_data": "UCITS physical ETF baseline applied. Policy mode: strict. Product type: ETF. UCITS signal identified. Replication method: physical.",
    "missing_data": [
        "factsheet",
        "No explicit confirmation that derivatives are only used for EPM beyond the single statement, but no contrary evidence.",
        "Risk rating differs between KIID (6) and PRIIPs (4); extracted as reported."
    ],
    "warnings": [],
    "sources": {
        "kiid": {
            "url": "https://oppl.ai/apy/doc_store/IE0006FBEDB6_KIID.txt",
            "found": true,
            "http_code": 200,
            "bytes": 14095,
            "error": null
        },
        "priips_kid": {
            "url": "https://oppl.ai/eu_kiids/en_txt/IE0006FBEDB6.txt",
            "found": true,
            "http_code": 200,
            "bytes": 20501,
            "error": null
        },
        "factsheet": {
            "url": "https://oppl.ai/apy/doc_store/IE0006FBEDB6_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=IE0006FBEDB6&size=3",
            "found": true,
            "http_code": 200,
            "bytes": 618,
            "error": null
        }
    }
}