{
    "ok": true,
    "_meta": {
        "isin": "IE0009RYSBF2",
        "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": "2026-08-08T07:56:29+00:00",
        "captured_unix": 1786175789
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    "confidence": 0.82,
    "review_required": false,
    "decision_rule_applied": "etf_ucits_physical_no_complex_override_rule",
    "product_policy_branch": "ETF",
    "fund_name": "HSBC Global Funds ICAV - Global Aggregate Bond UCITS ETF",
    "isin": "IE0009RYSBF2",
    "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": true,
        "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": 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": [
            "Swap or FDI permission language identified",
            "Derivative powers appear permission-based rather than evidenced as core exposure",
            "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",
            "Fixed income credit and duration risk"
        ],
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        "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": "PRIIPS_KID",
            "signal": "swaps",
            "quote": "The Fund may invest in cash and money market instruments, up to 30% in securities traded on the CIBM, up to 10% in funds for efficient portfolio management purposes, and up to 30% in total return swaps."
        },
        {
            "source": "PRIIPS_KID",
            "signal": "counterparty_risk",
            "quote": "Counterparty Risk The possibility that the counterparty to a transaction may be unwilling or unable to meet its obligations."
        },
        {
            "source": "PRIIPS_KID",
            "signal": "coco_or_at1_exposure",
            "quote": "CoCo Bond Risk Contingent convertible securities (CoCo bonds) are comparatively untested, their income payments may be cancelled or suspended..."
        },
        {
            "source": "PRIIPS_KID",
            "signal": "clo_exposure",
            "quote": "The Fund is passively managed and invests in, or gain exposure to: bonds issued by governments, government-related entities, supranational bodies and companies... asset backed securities, mortgage backed securities and commercial mortgage backed securities; and covered bonds"
        },
        {
            "source": "PRIIPS_KID",
            "signal": "securities_lending",
            "quote": "The Fund may enter into securities lending transactions for up to 50% of its assets. However, this is not expected to exceed 45%."
        },
        {
            "source": "PRIIPS_KID",
            "signal": "illiquid_or_hard_to_value_underlying",
            "quote": "The securities can carry an above-average risk of being hard to value or to sell at a desired time and price."
        }
    ],
    "supporting_data": "UCITS physical ETF baseline applied. Policy mode: balanced. Product type: ETF. UCITS signal identified. Replication method: physical.",
    "missing_data": [],
    "warnings": [
        "illiquid_or_hard_to_value_underlying_identified",
        "counterparty_risk_language_identified",
        "swap_permission_language_identified_not_core_strategy"
    ],
    "sources": {
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            "url": "https://oppl.ai/apy/doc_store/IE0009RYSBF2_KIID.txt",
            "found": true,
            "http_code": 200,
            "bytes": 11290,
            "error": null
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            "url": "https://oppl.ai/eu_kiids/en_txt/IE0009RYSBF2.txt",
            "found": true,
            "http_code": 200,
            "bytes": 14929,
            "error": null
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        "factsheet": {
            "url": "https://oppl.ai/apy/doc_store/IE0009RYSBF2_FS.txt",
            "found": true,
            "http_code": 200,
            "bytes": 15418,
            "error": null
        },
        "market_data": {
            "url": "https://api.londonstockexchange.com/api/gw/lse/search/autocomplete?q=IE0009RYSBF2&size=3",
            "found": true,
            "http_code": 200,
            "bytes": 313,
            "error": null
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}