{
    "ok": true,
    "_meta": {
        "isin": "LU1439943090",
        "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": "2026-06-19T11:27:04+00:00",
        "captured_unix": 1781868424
    },
    "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": "Amundi UK Government Bond 0-5Y UCITS ETF Dist",
    "isin": "LU1439943090",
    "type": "ETF",
    "ucits": true,
    "asset_class": "Bond",
    "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": 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": "moderate",
        "drivers": [
            "Counterparty risk language identified",
            "Derivative use appears limited to efficient portfolio management, hedging or risk management",
            "UCITS ETF structure",
            "Physical replication or direct portfolio holdings",
            "Fixed income credit and duration risk"
        ],
        "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": "ucits",
            "quote": "The Fund is an index-tracking UCITS passively managed."
        },
        {
            "source": "KIID",
            "signal": "replication_method physical",
            "quote": "The Fund seeks to achieve its objective via a direct replication, by investing primarily in the securities comprising the Benchmark Index."
        },
        {
            "source": "FACTSHEET",
            "signal": "replication_method physical",
            "quote": "Replication type : Physical"
        },
        {
            "source": "KIID",
            "signal": "derivatives_mentioned",
            "quote": "Invested financial instruments: Bonds, Financial Derivatives Instruments."
        },
        {
            "source": "KIID",
            "signal": "derivatives_epm_only",
            "quote": "Invested financial instruments: Bonds, Financial Derivatives Instruments. (Replication is physical; no evidence of core derivative use.)"
        },
        {
            "source": "FACTSHEET",
            "signal": "asset_class bond",
            "quote": "Asset class : Bond"
        },
        {
            "source": "KIID",
            "signal": "investment_objective",
            "quote": "The investment objective of the Fund is to reflect the performance of the FTSE Actuaries UK Conventional Gilts Up To 5 Years index... while minimizing the volatility of the difference between the return of the Fund and the return of the Benchmark Index"
        },
        {
            "source": "PRIIPS_KID",
            "signal": "risk_indicator",
            "quote": "We have classified this product as 2 out of 7, which is a low risk class."
        }
    ],
    "supporting_data": "UCITS physical ETF baseline applied. Policy mode: balanced. Product type: ETF. UCITS signal identified. Replication method: physical.",
    "missing_data": [],
    "warnings": [
        "counterparty_risk_language_identified"
    ],
    "sources": {
        "kiid": {
            "url": "https://oppl.ai/apy/doc_store/LU1439943090_KIID.txt",
            "found": true,
            "http_code": 200,
            "bytes": 9547,
            "error": null
        },
        "priips_kid": {
            "url": "https://oppl.ai/eu_kiids/en_txt/LU1439943090.txt",
            "found": true,
            "http_code": 200,
            "bytes": 11616,
            "error": null
        },
        "factsheet": {
            "url": "https://oppl.ai/apy/doc_store/LU1439943090_FS.txt",
            "found": true,
            "http_code": 200,
            "bytes": 12798,
            "error": null
        },
        "market_data": {
            "url": "https://api.londonstockexchange.com/api/gw/lse/search/autocomplete?q=LU1439943090&size=3",
            "found": true,
            "http_code": 200,
            "bytes": 288,
            "error": null
        }
    }
}