{
    "ok": true,
    "_meta": {
        "isin": "IE0009BI8Z04",
        "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": "2026-06-30T05:35:41+00:00",
        "captured_unix": 1782797741
    },
    "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": "AMUNDI MSCI WORLD EX USA UCITS ETF DIST",
    "isin": "IE0009BI8Z04",
    "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": true,
        "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": "moderate",
        "drivers": [
            "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": "ucits",
            "quote": "AMUNDI MSCI WORLD EX USA UCITS ETF DIST"
        },
        {
            "source": "KIID",
            "signal": "type_etf",
            "quote": "AMUNDI MSCI WORLD EX USA UCITS ETF DIST"
        },
        {
            "source": "KIID",
            "signal": "investment_objective",
            "quote": "The objective of this Sub-Fund is to track the performance of MSCI World ex USA Index (the 'Index'), and to minimize the tracking error between the net asset value of the Sub-Fund and the performance of the Index."
        },
        {
            "source": "KIID",
            "signal": "replication_method_physical",
            "quote": "direct replication, mainly by making direct investments in transferable securities and/or other eligible assets representing the Index constituents"
        },
        {
            "source": "KIID",
            "signal": "derivatives_mentioned",
            "quote": "The Investment Manager will be able to use derivatives in order to deal with inflows and outflows and which relate to the Index or constituents of the Index for investment and/or efficient portfolio management."
        },
        {
            "source": "KIID",
            "signal": "derivatives_epm_only",
            "quote": "for investment and/or efficient portfolio management"
        },
        {
            "source": "KIID",
            "signal": "counterparty_risk",
            "quote": "Counterparty risk: represents the risk of default of a market participant to fulfil its contractual obligations vis-\u00e0-vis your portfolio."
        },
        {
            "source": "KIID",
            "signal": "securities_lending",
            "quote": "the Sub-Fund may also enter into securities lending operations."
        },
        {
            "source": "FACTSHEET",
            "signal": "replication_type_physical",
            "quote": "Replication type : Physical"
        },
        {
            "source": "KIID",
            "signal": "asset_class_equity",
            "quote": "The Index is a broad global equity index representative of the large and mid-cap markets across developed countries excluding the United States."
        },
        {
            "source": "KIID",
            "signal": "priips_comprehension_alert_absent",
            "quote": "No text similar to 'You are about to purchase a product that is not simple and may be difficult to understand' found."
        }
    ],
    "supporting_data": "UCITS physical ETF baseline applied. Policy mode: strict. Product type: ETF. UCITS signal identified. Replication method: physical.",
    "missing_data": [
        "No explicit mention of funded or unfunded swap terms.",
        "No explicit mention of commodity futures roll or contango/backwardation.",
        "No explicit mention of structured payoff or capital protection.",
        "No explicit mention of CoCo/AT1 or CLO exposure."
    ],
    "warnings": [
        "counterparty_risk_language_identified"
    ],
    "sources": {
        "kiid": {
            "url": "https://oppl.ai/apy/doc_store/IE0009BI8Z04_KIID.txt",
            "found": true,
            "http_code": 200,
            "bytes": 7902,
            "error": null
        },
        "priips_kid": {
            "url": "https://oppl.ai/eu_kiids/en_txt/IE0009BI8Z04.txt",
            "found": true,
            "http_code": 200,
            "bytes": 13002,
            "error": null
        },
        "factsheet": {
            "url": "https://oppl.ai/apy/doc_store/IE0009BI8Z04_FS.txt",
            "found": true,
            "http_code": 200,
            "bytes": 10879,
            "error": null
        },
        "market_data": {
            "url": "https://api.londonstockexchange.com/api/gw/lse/search/autocomplete?q=IE0009BI8Z04&size=3",
            "found": true,
            "http_code": 200,
            "bytes": 61,
            "error": null
        }
    }
}