{
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        "isin": "IE000E47O2D3",
        "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": "2026-06-10T20:47:05+00:00",
        "captured_unix": 1781124425
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    "classification": "complex",
    "confidence": 0.88,
    "review_required": false,
    "decision_rule_applied": "balanced_etf_swap_complex_rule",
    "product_policy_branch": "ETF",
    "fund_name": "iShares U.S. Equity High Income Active UCITS ETF GBP Hedged (Dist)",
    "isin": "IE000E47O2D3",
    "type": "ETF",
    "ucits": true,
    "asset_class": "Equity",
    "replication_method": "physical",
    "signals": {
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        "inverse": false,
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        "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
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        "No leverage identified",
        "No inverse exposure identified"
    ],
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        "drivers": [
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            "Counterparty exposure may be relevant to returns or risk",
            "Derivatives appear core to the investment strategy",
            "Counterparty risk language identified",
            "UCITS ETF structure",
            "Physical replication or direct portfolio holdings"
        ],
        "plain_english_explanation": "The product appears to use synthetic or swap-based exposure. This may be difficult for ordinary retail clients to understand because returns can depend not only on the referenced market exposure but also on derivative mechanics, collateral arrangements and counterparty risk.",
        "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_core_strategy",
            "quote": "sell call options and buy futures on a large U.S. large capitalisation equity index to generate income"
        },
        {
            "source": "KIID",
            "signal": "derivatives_core_strategy",
            "quote": "use financial derivative instruments (FDIs) (i.e. investments the prices of which are based on one or more underlying assets) for investment purposes in order to achieve the investment objective of the Fund"
        },
        {
            "source": "KIID",
            "signal": "swaps",
            "quote": "equity and equity-related instruments (namely, call options, futures and 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": "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"
        },
        {
            "source": "KIID",
            "signal": "derivatives_mentioned",
            "quote": "The Fund will invest in a variety of investment strategies and instruments. In particular, the Fund will use quantitative (i.e. mathematical or statistical) models ... and further the Fund will sell call options and buy futures on a large U.S. large capitalisation equity index to generate income."
        }
    ],
    "supporting_data": "ETF has evidenced swap usage. Policy mode: balanced. Product type: ETF. UCITS signal identified. Replication method: physical.",
    "missing_data": [
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        "unfunded_swap",
        "contango_backwardation"
    ],
    "warnings": [
        "counterparty_risk_language_identified"
    ],
    "sources": {
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            "url": "https://oppl.ai/apy/doc_store/IE000E47O2D3_KIID.txt",
            "found": true,
            "http_code": 200,
            "bytes": 11550,
            "error": null
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            "url": "https://oppl.ai/eu_kiids/en_txt/IE000E47O2D3.txt",
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            "http_code": 200,
            "bytes": 15931,
            "error": null
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        "factsheet": {
            "url": "https://oppl.ai/apy/doc_store/IE000E47O2D3_FS.txt",
            "found": true,
            "http_code": 200,
            "bytes": 10634,
            "error": null
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        "market_data": {
            "url": "https://api.londonstockexchange.com/api/gw/lse/search/autocomplete?q=IE000E47O2D3&size=3",
            "found": true,
            "http_code": 200,
            "bytes": 518,
            "error": null
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}