{
    "ok": true,
    "_meta": {
        "isin": "IE000UL7AOT5",
        "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": "2026-06-14T10:29:47+00:00",
        "captured_unix": 1781432987
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    "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": "CT QR Series Global Equity Active UCITS ETF",
    "isin": "IE000UL7AOT5",
    "type": "ETF",
    "ucits": true,
    "asset_class": "Equity",
    "replication_method": "physical",
    "signals": {
        "leveraged": false,
        "inverse": false,
        "derivatives_mentioned": false,
        "derivatives_core_strategy": false,
        "derivatives_epm_only": null,
        "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"
    ],
    "consumer_understanding": {
        "risk_level": "low",
        "drivers": [
            "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. 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": "ucits",
            "quote": "The Fund is a sub-fund of Columbia Threadneedle (Irl) ICAV, regulated by the Central Bank of Ireland. CT QR SERIES GLOBAL EQUITY ACTIVE UCITS ETF"
        },
        {
            "source": "KIID",
            "signal": "derivatives_mentioned",
            "quote": "No mention of derivatives, futures, options, swaps, or similar instruments in the investment policy."
        },
        {
            "source": "PRIIPS_KID",
            "signal": "replication_method_physical",
            "quote": "The Fund invests at least 80% of its assets in listed equity and equity related securities of global companies listed or traded on Regulated Markets."
        }
    ],
    "supporting_data": "UCITS physical ETF baseline applied. Policy mode: balanced. Product type: ETF. UCITS signal identified. Replication method: physical.",
    "missing_data": [
        "factsheet",
        "derivatives_epm_only: No derivatives mentioned, so unclear if EPM-only applies",
        "funded_swap: Not applicable",
        "unfunded_swap: Not applicable",
        "counterparty_risk: Not applicable",
        "commodity_futures_roll: Not applicable",
        "contango_backwardation: Not applicable",
        "securities_lending: Not mentioned",
        "illiquid_or_hard_to_value_underlying: Not mentioned",
        "physical_allocated_commodity: Not applicable"
    ],
    "warnings": [],
    "sources": {
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            "url": "https://oppl.ai/apy/doc_store/IE000UL7AOT5_KIID.txt",
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            "http_code": 200,
            "bytes": 9370,
            "error": null
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        "priips_kid": {
            "url": "https://oppl.ai/eu_kiids/en_txt/IE000UL7AOT5.txt",
            "found": true,
            "http_code": 200,
            "bytes": 14689,
            "error": null
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        "factsheet": {
            "url": "https://oppl.ai/apy/doc_store/IE000UL7AOT5_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=IE000UL7AOT5&size=3",
            "found": true,
            "http_code": 200,
            "bytes": 640,
            "error": null
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}