{
    "ok": true,
    "_meta": {
        "isin": "IE000CZJPCH1",
        "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": "2026-06-30T10:48:53+00:00",
        "captured_unix": 1782816533
    },
    "classification": "complex",
    "confidence": 0.82,
    "review_required": false,
    "decision_rule_applied": "strict_etf_core_derivatives_complex_rule",
    "product_policy_branch": "ETF",
    "fund_name": "iShares \u20ac High Yield Corp Bond Enhanced Active UCITS ETF EUR (Acc)",
    "isin": "IE000CZJPCH1",
    "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,
        "priips_comprehension_alert": false,
        "securities_lending": true,
        "illiquid_or_hard_to_value_underlying": false,
        "physical_allocated_commodity": false,
        "crypto_digital_asset": false
    },
    "complex_factors": [
        "Derivatives core to strategy"
    ],
    "non_complex_factors": [
        "UCITS fund",
        "Physical replication",
        "No leverage identified",
        "No inverse exposure identified"
    ],
    "consumer_understanding": {
        "risk_level": "elevated",
        "drivers": [
            "Swap or FDI permission language identified",
            "Derivative powers appear permission-based rather than evidenced as core exposure",
            "Derivatives appear core to the investment strategy",
            "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": [
        {
            "source": "KIID",
            "signal": "derivatives_mentioned",
            "quote": "Financial derivative instruments (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) may be used by the Fund for direct investment purposes or for efficient portfolio management purposes"
        },
        {
            "source": "KIID",
            "signal": "derivatives_core_strategy",
            "quote": "Financial derivative instruments ... may be used by the Fund 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"
        },
        {
            "source": "PRIIPS_KID",
            "signal": "ucits",
            "quote": "The Fund is a sub-fund of iShares III plc ... authorised by the Central Bank of Ireland as a Undertaking for Collective Investment in Transferable Securities (\u201cUCITS\u201d). The Fund is a UCITS exchange-traded fund, a UCITS ETF."
        },
        {
            "source": "FACTSHEET",
            "signal": "asset_class",
            "quote": "Asset Class : Fixed Income"
        }
    ],
    "supporting_data": "ETF has core derivative exposure. Policy mode: strict. Product type: ETF. UCITS signal identified. Replication method: physical.",
    "missing_data": [
        "funded_swap",
        "unfunded_swap"
    ],
    "warnings": [
        "counterparty_risk_language_identified",
        "swap_permission_language_identified_not_core_strategy"
    ],
    "sources": {
        "kiid": {
            "url": "https://oppl.ai/apy/doc_store/IE000CZJPCH1_KIID.txt",
            "found": true,
            "http_code": 200,
            "bytes": 10481,
            "error": null
        },
        "priips_kid": {
            "url": "https://oppl.ai/eu_kiids/en_txt/IE000CZJPCH1.txt",
            "found": true,
            "http_code": 200,
            "bytes": 15472,
            "error": null
        },
        "factsheet": {
            "url": "https://oppl.ai/apy/doc_store/IE000CZJPCH1_FS.txt",
            "found": true,
            "http_code": 200,
            "bytes": 11941,
            "error": null
        },
        "market_data": {
            "url": "https://api.londonstockexchange.com/api/gw/lse/search/autocomplete?q=IE000CZJPCH1&size=3",
            "found": true,
            "http_code": 200,
            "bytes": 61,
            "error": null
        }
    }
}