{
    "ok": true,
    "_meta": {
        "isin": "IE000BUIVY49",
        "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": "2026-06-29T09:52:58+00:00",
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    "classification": "complex",
    "confidence": 0.82,
    "review_required": false,
    "decision_rule_applied": "balanced_etf_core_derivatives_complex_rule",
    "product_policy_branch": "ETF",
    "fund_name": "iShares \u20ac Corp Bond Enhanced Active UCITS ETF EUR (Acc)",
    "isin": "IE000BUIVY49",
    "type": "ETF",
    "ucits": true,
    "asset_class": "Fixed Income",
    "replication_method": "physical",
    "signals": {
        "leveraged": false,
        "inverse": false,
        "derivatives_mentioned": true,
        "derivatives_core_strategy": true,
        "derivatives_epm_only": false,
        "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,
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        "securities_lending": true,
        "illiquid_or_hard_to_value_underlying": true,
        "physical_allocated_commodity": false,
        "crypto_digital_asset": false
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    ],
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        "Physical replication",
        "No leverage identified",
        "No inverse exposure identified"
    ],
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        "drivers": [
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            "Derivative powers appear permission-based rather than evidenced as core exposure",
            "Derivatives appear core to the investment strategy",
            "Less liquid or harder-to-value underlying exposure language",
            "Counterparty risk language identified",
            "UCITS ETF structure",
            "Physical replication or direct portfolio holdings",
            "Fixed income credit and duration risk"
        ],
        "plain_english_explanation": "The available evidence identifies features that may affect ordinary retail investor understanding. The assessment describes product-level mechanics only and does not judge the knowledge or experience of a specific client.",
        "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": [
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            "source": "KIID",
            "signal": "derivatives_core_strategy",
            "quote": "The IM may use financial derivative instruments (FDIs) (i.e. investments the prices of which are based on one or more underlying assets) such as futures, forward contracts and swap contracts (including credit default swaps and total return swaps) for direct investment purposes or for efficient portfolio management purposes."
        },
        {
            "source": "KIID",
            "signal": "swaps",
            "quote": "swap contracts (including credit default swaps and total return swaps)"
        },
        {
            "source": "KIID",
            "signal": "counterparty_risk",
            "quote": "Counterparty Risk: The insolvency of any institutions providing services such as safekeeping of assets or acting as counterparty to derivatives or other instruments, may expose the Share Class to financial loss."
        },
        {
            "source": "KIID",
            "signal": "securities_lending",
            "quote": "To the extent the Fund undertakes securities lending to reduce costs, the Fund will receive 62.5% of the associated revenue generated and the remaining 37.5% will be received by BlackRock as the securities lending agent."
        }
    ],
    "supporting_data": "ETF has core derivative exposure. Policy mode: balanced. Product type: ETF. UCITS signal identified. Replication method: physical.",
    "missing_data": [
        "funded/unfunded swap status not specified",
        "extent of derivative usage not quantified"
    ],
    "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/IE000BUIVY49_KIID.txt",
            "found": true,
            "http_code": 200,
            "bytes": 10352,
            "error": null
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            "url": "https://oppl.ai/eu_kiids/en_txt/IE000BUIVY49.txt",
            "found": true,
            "http_code": 200,
            "bytes": 15283,
            "error": null
        },
        "factsheet": {
            "url": "https://oppl.ai/apy/doc_store/IE000BUIVY49_FS.txt",
            "found": true,
            "http_code": 200,
            "bytes": 20197,
            "error": null
        },
        "market_data": {
            "url": "https://api.londonstockexchange.com/api/gw/lse/search/autocomplete?q=IE000BUIVY49&size=3",
            "found": true,
            "http_code": 200,
            "bytes": 61,
            "error": null
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}