{
    "ok": true,
    "_meta": {
        "isin": "IE000N70F6V6",
        "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": "2026-06-14T10:39:08+00:00",
        "captured_unix": 1781433548
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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": "UBS MSCI INDIA SF UCITS ETF",
    "isin": "IE000N70F6V6",
    "type": "ETF",
    "ucits": true,
    "asset_class": "Equity",
    "replication_method": "synthetic",
    "signals": {
        "leveraged": false,
        "inverse": false,
        "derivatives_mentioned": true,
        "derivatives_core_strategy": true,
        "derivatives_epm_only": false,
        "swaps": true,
        "funded_swap": true,
        "unfunded_swap": false,
        "synthetic_replication": true,
        "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": true,
        "physical_allocated_commodity": false,
        "crypto_digital_asset": false
    },
    "complex_factors": [
        "Swap usage"
    ],
    "non_complex_factors": [
        "UCITS fund",
        "No leverage identified",
        "No inverse exposure identified"
    ],
    "consumer_understanding": {
        "risk_level": "elevated",
        "drivers": [
            "Synthetic or swap-based exposure",
            "Counterparty exposure may be relevant to returns or risk",
            "Derivatives appear core to the investment strategy",
            "Less liquid or harder-to-value underlying exposure language",
            "Counterparty risk language identified"
        ],
        "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."
    },
    "supporting_evidence": [
        {
            "source": "KIID",
            "signal": "swaps",
            "quote": "Under the terms of the FDIs, the performance of the Index is swapped from UBS to the Fund"
        },
        {
            "source": "FACTSHEET",
            "signal": "synthetic_replication",
            "quote": "The fund synthetically replicates the index performance by investing in a swap."
        },
        {
            "source": "FACTSHEET",
            "signal": "funded_swap",
            "quote": "Replication methodology: Synthetic (Fully Funded + Total Return Swap)"
        },
        {
            "source": "FACTSHEET",
            "signal": "counterparty_risk",
            "quote": "the returns payable on the fund are dependant on payments received by the fund from the swap counterparty under the terms of the relevant swap and, therefore, are subject to the credit risk of the swap counterparty."
        }
    ],
    "supporting_data": "ETF has evidenced core or synthetic swap usage. Policy mode: balanced. Product type: ETF. UCITS signal identified. Replication method: synthetic.",
    "missing_data": [],
    "warnings": [
        "illiquid_or_hard_to_value_underlying_identified",
        "counterparty_risk_language_identified"
    ],
    "sources": {
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            "url": "https://oppl.ai/apy/doc_store/IE000N70F6V6_KIID.txt",
            "found": true,
            "http_code": 200,
            "bytes": 7773,
            "error": null
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        "priips_kid": {
            "url": "https://oppl.ai/eu_kiids/en_txt/IE000N70F6V6.txt",
            "found": true,
            "http_code": 200,
            "bytes": 11211,
            "error": null
        },
        "factsheet": {
            "url": "https://oppl.ai/apy/doc_store/IE000N70F6V6_FS.txt",
            "found": true,
            "http_code": 200,
            "bytes": 22919,
            "error": null
        },
        "market_data": {
            "url": "https://api.londonstockexchange.com/api/gw/lse/search/autocomplete?q=IE000N70F6V6&size=3",
            "found": true,
            "http_code": 200,
            "bytes": 288,
            "error": null
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}