{
    "ok": true,
    "_meta": {
        "isin": "LU1981859819",
        "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": "2026-06-19T10:09:11+00:00",
        "captured_unix": 1781863751
    },
    "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 Global Aggregate Proceeds Bond 1-10Y UCITS ETF Acc",
    "isin": "LU1981859819",
    "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": null,
        "swaps": true,
        "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": true,
        "illiquid_or_hard_to_value_underlying": true,
        "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": "moderate",
        "drivers": [
            "Swap or FDI permission language identified",
            "Derivative powers appear permission-based rather than evidenced as core exposure",
            "Less liquid or harder-to-value underlying exposure language",
            "Counterparty risk language identified",
            "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. 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": "securities_lending",
            "quote": "The Fund may also engage in securities lending transactions."
        },
        {
            "source": "KIID",
            "signal": "derivatives_mentioned",
            "quote": "Invested financial instruments: international bonds, financial derivative instruments"
        },
        {
            "source": "KIID",
            "signal": "counterparty_risk",
            "quote": "Counterparty risk: represents the risk of default of a market participant to fulfil its contractual obligations vis-\u00e0-vis your portfolio."
        },
        {
            "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": "PRIIPS_KID",
            "signal": "ucits",
            "quote": "Shares of a Sub-Fund of MULTI UNITS LUXEMBOURG, an Undertaking for Collective Investments in Transferable Securities (UCITS)"
        }
    ],
    "supporting_data": "UCITS physical ETF baseline applied. Policy mode: balanced. Product type: ETF. UCITS signal identified. Replication method: physical.",
    "missing_data": [
        "The use of derivatives (financial derivative instruments) is mentioned in KIID as invested instruments, but the investment policy only describes direct replication, sampling, and securities lending. The purpose of derivatives is not clearly stated; they may be used for efficient portfolio management, but no explicit evidence. Swaps are mentioned in the factsheet counterparty risk section but not in regulatory documents; thus swaps are considered false.",
        "The factsheet includes a counterparty risk statement about OTC swaps, but this may be a generic disclosure for the ETF range and is not corroborated by the KIID or PRIIPS KID. Therefore swaps are treated as not evidenced."
    ],
    "warnings": [
        "illiquid_or_hard_to_value_underlying_identified",
        "counterparty_risk_language_identified",
        "swap_permission_language_identified_not_core_strategy"
    ],
    "sources": {
        "kiid": {
            "url": "https://oppl.ai/apy/doc_store/LU1981859819_KIID.txt",
            "found": true,
            "http_code": 200,
            "bytes": 11908,
            "error": null
        },
        "priips_kid": {
            "url": "https://oppl.ai/eu_kiids/en_txt/LU1981859819.txt",
            "found": true,
            "http_code": 200,
            "bytes": 13676,
            "error": null
        },
        "factsheet": {
            "url": "https://oppl.ai/apy/doc_store/LU1981859819_FS.txt",
            "found": true,
            "http_code": 200,
            "bytes": 17370,
            "error": null
        },
        "market_data": {
            "url": "https://api.londonstockexchange.com/api/gw/lse/search/autocomplete?q=LU1981859819&size=3",
            "found": true,
            "http_code": 200,
            "bytes": 293,
            "error": null
        }
    }
}