{
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        "isin": "IE000Y187J49",
        "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": "2026-06-14T12:45:23+00:00",
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    "review_required": false,
    "decision_rule_applied": "etf_coco_or_at1_exposure_hard_complex_rule",
    "product_policy_branch": "ETF",
    "fund_name": "Amerant Latin American Debt UCITS ETF",
    "isin": "IE000Y187J49",
    "type": "ETF",
    "ucits": true,
    "asset_class": "fixed_income",
    "replication_method": "physical",
    "signals": {
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        "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": false,
        "structured_payoff": false,
        "capital_protection": false,
        "commodity_futures_roll": false,
        "contango_backwardation": false,
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        "clo_exposure": false,
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        "priips_comprehension_alert": false,
        "securities_lending": false,
        "illiquid_or_hard_to_value_underlying": true,
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        "crypto_digital_asset": false
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        "No inverse exposure identified"
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        "drivers": [
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            "Loss absorption, conversion or write-down mechanics may be difficult to understand",
            "Less liquid or harder-to-value underlying exposure language",
            "UCITS ETF structure",
            "Physical replication or direct portfolio holdings",
            "Fixed income credit and duration risk"
        ],
        "plain_english_explanation": "The product appears to have exposure to CoCo or AT1-style instruments. These can be difficult to understand because they may include loss absorption, conversion or write-down mechanics that behave differently from ordinary bonds.",
        "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."
    },
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            "signal": "coco_or_at1_exposure",
            "quote": "The Fund may also invest in contingent convertible instruments (CoCo Bonds), also known as 'CoCos'. CoCos are a form of hybrid debt instrument intended to either convert into equity or have their principal partially or completely written off with the option of revaluation under certain circumstances."
        },
        {
            "source": "KIID",
            "signal": "coco_or_at1_exposure",
            "quote": "Investment in, or exposure to, CoCos will be limited to 10% of the Fund's net assets."
        },
        {
            "source": "KIID",
            "signal": "ucits",
            "quote": "The Fund will invest, in a manner consistent with the UCITS Regulations and Central Bank requirements"
        },
        {
            "source": "KIID",
            "signal": "physical_replication",
            "quote": "The Fund will invest in a portfolio of fixed income securities comprising SEC registered and/or securities issued pursuant to Regulation S"
        }
    ],
    "supporting_data": "Hard complex product feature identified: CoCo or AT1 bond exposure. Policy mode: balanced. Product type: ETF. UCITS signal identified. Replication method: physical.",
    "missing_data": [],
    "warnings": [
        "illiquid_or_hard_to_value_underlying_identified"
    ],
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            "http_code": 200,
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            "found": true,
            "http_code": 200,
            "bytes": 12513,
            "error": null
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            "url": "https://oppl.ai/apy/doc_store/IE000Y187J49_FS.txt",
            "found": true,
            "http_code": 200,
            "bytes": 62,
            "error": null
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        "market_data": {
            "url": "https://api.londonstockexchange.com/api/gw/lse/search/autocomplete?q=IE000Y187J49&size=3",
            "found": true,
            "http_code": 200,
            "bytes": 494,
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