{
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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": "2026-06-05T10:20:46+00:00",
        "captured_unix": 1780654846
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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": "Invesco EUR AT1 CoCo Bond UCITS ETF",
    "isin": "IE0006WZF7C2",
    "type": "ETF",
    "ucits": true,
    "asset_class": "fixed_income",
    "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": true,
        "clo_exposure": false,
        "complex_index": 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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        "CoCo or AT1 bond exposure"
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        "Physical replication",
        "No leverage identified",
        "No inverse exposure identified"
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        "risk_level": "high",
        "drivers": [
            "CoCo or AT1 exposure",
            "Loss absorption, conversion or write-down mechanics may be difficult to understand",
            "PRIIPs comprehension alert language",
            "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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        {
            "source": "KIID",
            "signal": "coco_or_at1_exposure",
            "quote": "The objective of the Fund is to provide exposure to the performance of Euro denominated Additional Tier 1 contingent convertible bonds issued by banks from global developed market countries."
        },
        {
            "source": "KIID",
            "signal": "coco_or_at1_exposure",
            "quote": "Contingent Convertible Bonds Risk: This Fund invests in contingent convertible bonds, a type of corporate debt security that may be converted into equity or forced to suffer a write down of principal upon the occurrence of a pre-determined event."
        },
        {
            "source": "KIID",
            "signal": "priips_comprehension_alert",
            "quote": "You are about to purchase a product that is not simple and may be difficult to understand."
        },
        {
            "source": "FACTSHEET",
            "signal": "derivatives_epm_only",
            "quote": "To minimise exposure to fluctuations in the exchange rate between EUR and GBP, the GBP Hedged share class enters into foreign exchange transactions."
        },
        {
            "source": "KIID",
            "signal": "derivatives_epm_only",
            "quote": "The Fund may use derivative instruments for the purposes of managing risk, reducing costs, generating additional capital or income."
        },
        {
            "source": "FACTSHEET",
            "signal": "replication_method_physical",
            "quote": "Replication method  Physical"
        }
    ],
    "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",
        "PRIIPS KID not provided",
        "No explicit mention of illiquid/hard-to-value underlying"
    ],
    "warnings": [],
    "sources": {
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            "url": "https://oppl.ai/apy/doc_store/IE0006WZF7C2_KIID.txt",
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            "http_code": 200,
            "bytes": 13258,
            "error": null
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            "found": false,
            "http_code": 404,
            "bytes": 1251,
            "error": "http_404"
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        "factsheet": {
            "url": "https://oppl.ai/apy/doc_store/IE0006WZF7C2_FS.txt",
            "found": true,
            "http_code": 200,
            "bytes": 26925,
            "error": null
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        "market_data": {
            "url": "https://api.londonstockexchange.com/api/gw/lse/search/autocomplete?q=IE0006WZF7C2&size=3",
            "found": true,
            "http_code": 200,
            "bytes": 327,
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