{
    "ok": true,
    "_meta": {
        "isin": "IE000DPO6LM8",
        "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": "2026-06-25T20:40:58+00:00",
        "captured_unix": 1782420058
    },
    "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": "L&G MSCI World Mid Cap UCITS ETF",
    "isin": "IE000DPO6LM8",
    "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": "derivatives_epm_only",
            "quote": "The Fund may also invest in the following additional assets: companies that are not component securities of the Index; Depositary Receipts; and Financial Derivative Instruments."
        },
        {
            "source": "KIID",
            "signal": "securities_lending",
            "quote": "The Fund may, in addition, employ other techniques relating to transferable securities, including entering into securities lending transactions"
        },
        {
            "source": "KIID",
            "signal": "counterparty_risk",
            "quote": "Third party service providers (such as counterparties entering into FDIs with the Fund or the Company's depositary) may go bankrupt and fail to pay money due to the Fund or return property belonging to the Fund."
        },
        {
            "source": "KIID",
            "signal": "replication_method_physical",
            "quote": "The Fund is considered to be passively managed as it aims to track the Index by using index 'sampling' techniques. It will do so by investing primarily in an optimised portfolio of equity securities that, as far as possible and practicable, consists of the component securities of the Index in similar proportions to their weightings in the Index."
        },
        {
            "source": "PRIIPS_KID",
            "signal": "ucits",
            "quote": "Product Name of Fund: L&G MSCI World Mid Cap UCITS ETF ... This PRIIP is authorised in Ireland."
        },
        {
            "source": "MARKET_DATA",
            "signal": "type_etf",
            "quote": "category: ETFS"
        }
    ],
    "supporting_data": "UCITS physical ETF baseline applied. Policy mode: strict. Product type: ETF. UCITS signal identified. Replication method: physical.",
    "missing_data": [
        "factsheet"
    ],
    "warnings": [
        "counterparty_risk_language_identified"
    ],
    "sources": {
        "kiid": {
            "url": "https://oppl.ai/apy/doc_store/IE000DPO6LM8_KIID.txt",
            "found": true,
            "http_code": 200,
            "bytes": 8802,
            "error": null
        },
        "priips_kid": {
            "url": "https://oppl.ai/eu_kiids/en_txt/IE000DPO6LM8.txt",
            "found": true,
            "http_code": 200,
            "bytes": 11446,
            "error": null
        },
        "factsheet": {
            "url": "https://oppl.ai/apy/doc_store/IE000DPO6LM8_FS.txt",
            "found": false,
            "http_code": 404,
            "bytes": 1251,
            "error": "http_404"
        },
        "market_data": {
            "url": "https://api.londonstockexchange.com/api/gw/lse/search/autocomplete?q=IE000DPO6LM8&size=3",
            "found": true,
            "http_code": 200,
            "bytes": 632,
            "error": null
        }
    }
}