{
    "ok": true,
    "_meta": {
        "isin": "IE000RMSPY39",
        "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": "2026-06-17T10:41:50+00:00",
        "captured_unix": 1781692910
    },
    "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": "RIZE CIRCULAR ECONOMY ENABLERS UCITS ETF",
    "isin": "IE000RMSPY39",
    "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": 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"
        ],
        "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": "type",
            "quote": "The Rize Circular Economy Enablers UCITS ETF (the \"Fund\") is a passively managed exchange traded fund (\"ETF\")"
        },
        {
            "source": "KIID",
            "signal": "ucits",
            "quote": "The ICAV is authorised in Ireland and regulated by the Central Bank of Ireland. ... authorised by the Central Bank of Ireland as a UCITS."
        },
        {
            "source": "FACTSHEET",
            "signal": "replication_method",
            "quote": "Replication Physical - Full Replication"
        },
        {
            "source": "KIID",
            "signal": "derivatives_mentioned",
            "quote": "The Fund may also invest in ... financial derivative instruments (\"FDIs\") which are investments the prices of which are based on the companies contained in the Index."
        },
        {
            "source": "KIID",
            "signal": "derivatives_epm_only",
            "quote": "The Fund may also invest in ... financial derivative instruments (\"FDIs\") which are investments the prices of which are based on the companies contained in the Index."
        },
        {
            "source": "KIID",
            "signal": "asset_class",
            "quote": "The Fund will primarily invest in the companies contained in the Index in similar proportions to their weightings in the Index."
        },
        {
            "source": "FACTSHEET",
            "signal": "asset_class",
            "quote": "Exposure Global Equities"
        },
        {
            "source": "KIID",
            "signal": "investment_objective_summary",
            "quote": "aims to replicate the performance of the Foxberry SMS Circular Economy Enablers USD Net Total Return Index (the \"Index\")."
        }
    ],
    "supporting_data": "UCITS physical ETF baseline applied. Policy mode: balanced. Product type: ETF. UCITS signal identified. Replication method: physical.",
    "missing_data": [],
    "warnings": [],
    "sources": {
        "kiid": {
            "url": "https://oppl.ai/apy/doc_store/IE000RMSPY39_KIID.txt",
            "found": true,
            "http_code": 200,
            "bytes": 10164,
            "error": null
        },
        "priips_kid": {
            "url": "https://oppl.ai/eu_kiids/en_txt/IE000RMSPY39.txt",
            "found": true,
            "http_code": 200,
            "bytes": 13981,
            "error": null
        },
        "factsheet": {
            "url": "https://oppl.ai/apy/doc_store/IE000RMSPY39_FS.txt",
            "found": true,
            "http_code": 200,
            "bytes": 15852,
            "error": null
        },
        "market_data": {
            "url": "https://api.londonstockexchange.com/api/gw/lse/search/autocomplete?q=IE000RMSPY39&size=3",
            "found": true,
            "http_code": 200,
            "bytes": 560,
            "error": null
        }
    }
}