{
    "ok": true,
    "_meta": {
        "isin": "IE000B5UZSG9",
        "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": "2026-06-30T05:36:02+00:00",
        "captured_unix": 1782797762
    },
    "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": "FIDELITY JAPAN EQUITY RESEARCH ENHANCED UCITS ETF INC",
    "isin": "IE000B5UZSG9",
    "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": "derivatives_epm_only",
            "quote": "The fund may use derivatives for efficient portfolio management and currency hedging purposes."
        },
        {
            "source": "KIID",
            "signal": "derivatives_mentioned",
            "quote": "The fund may use derivatives for efficient portfolio management and currency hedging purposes."
        },
        {
            "source": "KIID",
            "signal": "ucits",
            "quote": "FIDELITY JAPAN EQUITY RESEARCH ENHANCED UCITS ETF"
        },
        {
            "source": "FACTSHEET",
            "signal": "ucits",
            "quote": "Fund UCITS Compliant: Yes"
        },
        {
            "source": "KIID",
            "signal": "investment_objective",
            "quote": "The fund aims to achieve long-term capital growth from a portfolio primarily made up of equity securities of companies in Japan."
        },
        {
            "source": "FACTSHEET",
            "signal": "replication_method",
            "quote": "Fund Asset Class: Equity"
        }
    ],
    "supporting_data": "UCITS physical ETF baseline applied. Policy mode: strict. Product type: ETF. UCITS signal identified. Replication method: physical.",
    "missing_data": [],
    "warnings": [],
    "sources": {
        "kiid": {
            "url": "https://oppl.ai/apy/doc_store/IE000B5UZSG9_KIID.txt",
            "found": true,
            "http_code": 200,
            "bytes": 8563,
            "error": null
        },
        "priips_kid": {
            "url": "https://oppl.ai/eu_kiids/en_txt/IE000B5UZSG9.txt",
            "found": true,
            "http_code": 200,
            "bytes": 13565,
            "error": null
        },
        "factsheet": {
            "url": "https://oppl.ai/apy/doc_store/IE000B5UZSG9_FS.txt",
            "found": true,
            "http_code": 200,
            "bytes": 16750,
            "error": null
        },
        "market_data": {
            "url": "https://api.londonstockexchange.com/api/gw/lse/search/autocomplete?q=IE000B5UZSG9&size=3",
            "found": true,
            "http_code": 200,
            "bytes": 61,
            "error": null
        }
    }
}