{
    "ok": true,
    "_meta": {
        "isin": "IE000Y3FZEN4",
        "asset_scope": "UK_COMPLEX_ASSET",
        "policy_mode": "strict",
        "policy_mode_description": "Any material derivative, swap, synthetic, complex underlying, structured payoff, roll-cost, leverage, inverse, or PRIIPs warning signal can drive complex classification.",
        "classification_engine_version": "1.0.0",
        "prompt_version": "complex_asset_extract_v1",
        "captured_at_utc": "2026-06-07T06:00:16+00:00",
        "captured_unix": 1780812016
    },
    "classification": "complex",
    "confidence": 0.93,
    "review_required": false,
    "decision_rule_applied": "etf_capital_protection_hard_complex_rule",
    "product_policy_branch": "ETF",
    "fund_name": "Janus Henderson Global Research-Engineered Equity Active Core UCITS ETF",
    "isin": "IE000Y3FZEN4",
    "type": "ETF",
    "ucits": true,
    "asset_class": "equities",
    "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": true,
        "structured_payoff": false,
        "capital_protection": true,
        "commodity_futures_roll": false,
        "contango_backwardation": false,
        "coco_or_at1_exposure": false,
        "clo_exposure": false,
        "complex_index": false,
        "priips_comprehension_alert": true,
        "securities_lending": true,
        "illiquid_or_hard_to_value_underlying": true,
        "physical_allocated_commodity": false,
        "crypto_digital_asset": false
    },
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        "Capital protection or guarantee mechanism"
    ],
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        "UCITS fund",
        "Physical replication",
        "No leverage identified",
        "No inverse exposure identified"
    ],
    "consumer_understanding": {
        "risk_level": "high",
        "drivers": [
            "Capital protection or guarantee language",
            "Protection terms may depend on conditions or issuer credit quality",
            "Less liquid or harder-to-value underlying exposure language",
            "Counterparty risk language identified",
            "PRIIPs comprehension alert language",
            "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 available evidence identifies features that may affect ordinary retail investor understanding. The assessment describes product-level mechanics only and does not judge the knowledge or experience of a specific client.",
        "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": "priips_comprehension_alert",
            "quote": "You are about to purchase a product that is not simple and may be difficult to understand"
        },
        {
            "source": "PRIIPS_KID",
            "signal": "priips_comprehension_alert",
            "quote": "You are about to purchase a product that is not simple and may be difficult to understand"
        },
        {
            "source": "FACTSHEET",
            "signal": "replication_method",
            "quote": "Replication Physical"
        },
        {
            "source": "KIID",
            "signal": "derivatives_epm_only",
            "quote": "It may use derivatives for the purposes of hedging/risk reduction and will use FX forwards to hedge currency risk in hedged Share Classes."
        },
        {
            "source": "KIID",
            "signal": "securities_lending",
            "quote": "The Sub-Fund may lend its securities to certain qualified broker-dealers and institutions for the purposes of efficient portfolio management in an amount equal to up to 30% of its total assets"
        },
        {
            "source": "KIID",
            "signal": "ucits",
            "quote": "Janus Henderson Global Research Engineered UCITS ETF"
        }
    ],
    "supporting_data": "Hard complex product feature identified: Capital protection or guarantee mechanism. Policy mode: strict. Product type: ETF. UCITS signal identified. Replication method: physical.",
    "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/IE000Y3FZEN4_KIID.txt",
            "found": true,
            "http_code": 200,
            "bytes": 11204,
            "error": null
        },
        "priips_kid": {
            "url": "https://oppl.ai/eu_kiids/en_txt/IE000Y3FZEN4.txt",
            "found": true,
            "http_code": 200,
            "bytes": 13196,
            "error": null
        },
        "factsheet": {
            "url": "https://oppl.ai/apy/doc_store/IE000Y3FZEN4_FS.txt",
            "found": true,
            "http_code": 200,
            "bytes": 14310,
            "error": null
        },
        "market_data": {
            "url": "https://api.londonstockexchange.com/api/gw/lse/search/autocomplete?q=IE000Y3FZEN4&size=3",
            "found": true,
            "http_code": 200,
            "bytes": 553,
            "error": null
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}