{
    "ok": true,
    "_meta": {
        "isin": "IE000JQ3ELQ8",
        "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": "2026-06-18T20:59:53+00:00",
        "captured_unix": 1781816393
    },
    "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": "Goldman Sachs Global Government Bond Active UCITS ETF",
    "isin": "IE000JQ3ELQ8",
    "type": "ETF",
    "ucits": true,
    "asset_class": "fixed_income_government",
    "replication_method": "physical",
    "signals": {
        "leveraged": false,
        "inverse": false,
        "derivatives_mentioned": true,
        "derivatives_core_strategy": false,
        "derivatives_epm_only": false,
        "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": 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"
    ],
    "consumer_understanding": {
        "risk_level": "moderate",
        "drivers": [
            "Counterparty risk language identified",
            "UCITS ETF structure",
            "Physical replication or direct portfolio holdings",
            "Fixed income credit and duration risk"
        ],
        "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. 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_mentioned",
            "quote": "The Sub-Fund may use derivatives for efficient portfolio management purposes, to help manage risks and for investment purposes in order to seek to increase return."
        },
        {
            "source": "KIID",
            "signal": "type",
            "quote": "Goldman Sachs Global Government Bond Active UCITS Key Investor Information ETF (the \u201cSub-Fund\u201d)"
        },
        {
            "source": "KIID",
            "signal": "ucits",
            "quote": "Goldman Sachs Global Government Bond Active UCITS ETF"
        },
        {
            "source": "KIID",
            "signal": "replication_method",
            "quote": "The Sub-Fund will, under normal circumstances, invest at least two thirds of its net assets (excluding cash and cash equivalents) in investment grade fixed income transferable securities issued by governments and government related entities around the world."
        },
        {
            "source": "KIID",
            "signal": "asset_class",
            "quote": "primarily in investment grade fixed income securities issued by governments"
        },
        {
            "source": "PRIIPS_KID",
            "signal": "risk_indicator",
            "quote": "We have classified this Sub-Fund as 3 out of 7, which is a medium-low risk class."
        }
    ],
    "supporting_data": "UCITS physical ETF baseline applied. Policy mode: balanced. Product type: ETF. UCITS signal identified. Replication method: physical.",
    "missing_data": [
        "factsheet",
        "funded_swap",
        "unfunded_swap",
        "contango_backwardation"
    ],
    "warnings": [
        "counterparty_risk_language_identified"
    ],
    "sources": {
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            "url": "https://oppl.ai/apy/doc_store/IE000JQ3ELQ8_KIID.txt",
            "found": true,
            "http_code": 200,
            "bytes": 10875,
            "error": null
        },
        "priips_kid": {
            "url": "https://oppl.ai/eu_kiids/en_txt/IE000JQ3ELQ8.txt",
            "found": true,
            "http_code": 200,
            "bytes": 16152,
            "error": null
        },
        "factsheet": {
            "url": "https://oppl.ai/apy/doc_store/IE000JQ3ELQ8_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=IE000JQ3ELQ8&size=3",
            "found": true,
            "http_code": 200,
            "bytes": 320,
            "error": null
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}