{
    "ok": true,
    "_meta": {
        "isin": "IE000QVCP9S5",
        "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": "2026-06-14T12:36:04+00:00",
        "captured_unix": 1781440564
    },
    "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": "FIDELITY GLOBAL GOVERNMENT BOND CLIMATE AWARE UCITS ETF",
    "isin": "IE000QVCP9S5",
    "type": "ETF",
    "ucits": true,
    "asset_class": "Fixed Income",
    "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": false,
        "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",
        "Derivative use appears limited to EPM, hedging, or risk management"
    ],
    "consumer_understanding": {
        "risk_level": "low",
        "drivers": [
            "Derivative use appears limited to efficient portfolio management, hedging or risk management",
            "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. 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_mentioned",
            "quote": "The fund may use derivatives for efficient portfolio management and currency hedging purposes."
        },
        {
            "source": "KIID",
            "signal": "derivatives_epm_only",
            "quote": "The fund may use derivatives for efficient portfolio management and currency hedging purposes."
        },
        {
            "source": "KIID",
            "signal": "replication_method_physical",
            "quote": "The fund will aim to replicate the Index by holding all of the Index securities in a similar proportion to their weighting in the Index."
        },
        {
            "source": "FACTSHEET",
            "signal": "replication_method_physical",
            "quote": "Index Replication Method: Physical"
        },
        {
            "source": "KIID",
            "signal": "ucits",
            "quote": "FIDELITY GLOBAL GOVERNMENT BOND CLIMATE AWARE UCITS ETF"
        },
        {
            "source": "FACTSHEET",
            "signal": "ucits",
            "quote": "Fund UCITS Compliant: Yes"
        },
        {
            "source": "FACTSHEET",
            "signal": "asset_class_fixed_income",
            "quote": "Fund Asset Class: Fixed Income"
        },
        {
            "source": "KIID",
            "signal": "no_leverage",
            "quote": "The fund aims to provide investors with a total return... which reflects... the return of the Solactive Paris Aware Global Government USD Index"
        },
        {
            "source": "KIID",
            "signal": "no_inverse",
            "quote": "The investment policy of the fund is to track the performance of the Index as closely as possible, regardless of whether the Index level rises or falls"
        },
        {
            "source": "KIID",
            "signal": "no_swaps",
            "quote": "The fund will aim to replicate the Index by holding all of the Index securities"
        },
        {
            "source": "KIID",
            "signal": "no_synthetic_replication",
            "quote": "The fund will aim to replicate the Index by holding all of the Index securities"
        },
        {
            "source": "KIID",
            "signal": "no_structured_payoff",
            "quote": "The fund aims to provide investors with a total return... which reflects... the return of the Solactive Paris Aware Global Government USD Index"
        },
        {
            "source": "KIID",
            "signal": "no_capital_protection",
            "quote": "The value of your investment may fall as well as rise and you may get back less than you originally invested."
        },
        {
            "source": "KIID",
            "signal": "no_commodity_futures_roll",
            "quote": "global local currency government bonds"
        },
        {
            "source": "KIID",
            "signal": "no_coco_or_at1_exposure",
            "quote": "global local currency government bonds, issued by investment grade countries"
        },
        {
            "source": "KIID",
            "signal": "no_clo_exposure",
            "quote": "global local currency government bonds, issued by investment grade countries"
        },
        {
            "source": "KIID",
            "signal": "no_complex_index",
            "quote": "The Index is designed to reflect the performance of global local currency government bonds, issued by investment grade countries"
        },
        {
            "source": "KIID",
            "signal": "no_priips_comprehension_alert",
            "quote": "No such alert found in documents."
        },
        {
            "source": "KIID",
            "signal": "no_securities_lending",
            "quote": "No mention of securities lending in documents."
        },
        {
            "source": "KIID",
            "signal": "no_illiquid_or_hard_to_value_underlying",
            "quote": "global local currency government bonds, issued by investment grade countries"
        },
        {
            "source": "KIID",
            "signal": "no_physical_allocated_commodity",
            "quote": "global local currency government bonds"
        },
        {
            "source": "KIID",
            "signal": "no_crypto_digital_asset",
            "quote": "global local currency government bonds"
        }
    ],
    "supporting_data": "UCITS physical ETF baseline applied. Policy mode: balanced. Product type: ETF. UCITS signal identified. Replication method: physical.",
    "missing_data": [],
    "warnings": [],
    "sources": {
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            "url": "https://oppl.ai/apy/doc_store/IE000QVCP9S5_KIID.txt",
            "found": true,
            "http_code": 200,
            "bytes": 8220,
            "error": null
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        "priips_kid": {
            "url": "https://oppl.ai/eu_kiids/en_txt/IE000QVCP9S5.txt",
            "found": true,
            "http_code": 200,
            "bytes": 13642,
            "error": null
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        "factsheet": {
            "url": "https://oppl.ai/apy/doc_store/IE000QVCP9S5_FS.txt",
            "found": true,
            "http_code": 200,
            "bytes": 14276,
            "error": null
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        "market_data": {
            "url": "https://api.londonstockexchange.com/api/gw/lse/search/autocomplete?q=IE000QVCP9S5&size=3",
            "found": true,
            "http_code": 200,
            "bytes": 321,
            "error": null
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}