{
    "ok": true,
    "_meta": {
        "isin": "LU1248511575",
        "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": "2026-06-19T09:30:46+00:00",
        "captured_unix": 1781861446
    },
    "classification": "complex",
    "confidence": 0.88,
    "review_required": false,
    "decision_rule_applied": "balanced_etf_swap_complex_rule",
    "product_policy_branch": "ETF",
    "fund_name": "Amundi Smart Overnight Return UCITS ETF USD Hedged Acc",
    "isin": "LU1248511575",
    "type": "ETF",
    "ucits": true,
    "asset_class": "Money Market",
    "replication_method": "synthetic",
    "signals": {
        "leveraged": false,
        "inverse": false,
        "derivatives_mentioned": true,
        "derivatives_core_strategy": false,
        "derivatives_epm_only": true,
        "swaps": true,
        "funded_swap": false,
        "unfunded_swap": false,
        "synthetic_replication": true,
        "counterparty_risk": true,
        "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": [
        "Swap usage"
    ],
    "non_complex_factors": [
        "UCITS fund",
        "No leverage identified",
        "No inverse exposure identified"
    ],
    "consumer_understanding": {
        "risk_level": "elevated",
        "drivers": [
            "Synthetic or swap-based exposure",
            "Counterparty exposure may be relevant to returns or risk",
            "Counterparty risk language identified",
            "Derivative use appears limited to efficient portfolio management, hedging or risk management"
        ],
        "plain_english_explanation": "The product appears to use synthetic or swap-based exposure. This may be difficult for ordinary retail clients to understand because returns can depend not only on the referenced market exposure but also on derivative mechanics, collateral arrangements and counterparty risk.",
        "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": "synthetic_replication",
            "quote": "The Sub-Fund will apply an Indirect Replication methodology to get exposition to the Benchmark Index."
        },
        {
            "source": "KIID",
            "signal": "swaps",
            "quote": "financial derivative instruments (in particular total return swap, currency forwards and currency swaps transactions strictly designed to hedge currency risks, interest rate swaps transactions aiming at reducing interest rate risks)"
        },
        {
            "source": "KIID",
            "signal": "counterparty_risk",
            "quote": "The Sub-Fund may receive collateral from credit institutions to reduce part or all of the counterparty risks"
        },
        {
            "source": "KIID",
            "signal": "derivatives_epm_only",
            "quote": "financial derivative instruments (in particular total return swap, currency forwards and currency swaps transactions strictly designed to hedge currency risks, interest rate swaps transactions aiming at reducing interest rate risks)"
        },
        {
            "source": "FACTSHEET",
            "signal": "synthetic_replication",
            "quote": "Replication method Synth\u00e9tique"
        }
    ],
    "supporting_data": "ETF has evidenced core or synthetic swap usage. Policy mode: balanced. Product type: ETF. UCITS signal identified. Replication method: synthetic.",
    "missing_data": [
        "funded_swap",
        "unfunded_swap"
    ],
    "warnings": [
        "counterparty_risk_language_identified"
    ],
    "sources": {
        "kiid": {
            "url": "https://oppl.ai/apy/doc_store/LU1248511575_KIID.txt",
            "found": true,
            "http_code": 200,
            "bytes": 11206,
            "error": null
        },
        "priips_kid": {
            "url": "https://oppl.ai/eu_kiids/en_txt/LU1248511575.txt",
            "found": true,
            "http_code": 200,
            "bytes": 12777,
            "error": null
        },
        "factsheet": {
            "url": "https://oppl.ai/apy/doc_store/LU1248511575_FS.txt",
            "found": true,
            "http_code": 200,
            "bytes": 8660,
            "error": null
        },
        "market_data": {
            "url": "https://api.londonstockexchange.com/api/gw/lse/search/autocomplete?q=LU1248511575&size=3",
            "found": true,
            "http_code": 200,
            "bytes": 293,
            "error": null
        }
    }
}