{
    "ok": true,
    "_meta": {
        "isin": "IE0005YK6564",
        "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": "2026-08-08T09:36:32+00:00",
        "captured_unix": 1786181792
    },
    "classification": "complex",
    "confidence": 0.93,
    "review_required": false,
    "decision_rule_applied": "etf_priips_comprehension_alert_hard_complex_rule",
    "product_policy_branch": "ETF",
    "fund_name": "Sprott Uranium Miners UCITS ETF",
    "isin": "IE0005YK6564",
    "type": "ETF",
    "ucits": true,
    "asset_class": "Equities - uranium miners and uranium-related companies",
    "replication_method": "physical",
    "signals": {
        "leveraged": false,
        "inverse": false,
        "derivatives_mentioned": true,
        "derivatives_core_strategy": false,
        "derivatives_epm_only": null,
        "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,
        "coco_or_at1_exposure": false,
        "clo_exposure": false,
        "complex_index": false,
        "priips_comprehension_alert": true,
        "securities_lending": true,
        "illiquid_or_hard_to_value_underlying": false,
        "physical_allocated_commodity": false,
        "crypto_digital_asset": false
    },
    "complex_factors": [
        "PRIIPs comprehension alert"
    ],
    "non_complex_factors": [
        "UCITS fund",
        "Physical replication",
        "No leverage identified",
        "No inverse exposure identified"
    ],
    "consumer_understanding": {
        "risk_level": "high",
        "drivers": [
            "PRIIPs comprehension alert language",
            "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": "fund_name",
            "quote": "Sprott Uranium Miners UCITS ETF (the Fund) \u2013 ISIN: IE0005YK6564"
        },
        {
            "source": "PRIIPS_KID",
            "signal": "ucits",
            "quote": "authorised by the Central Bank under the UCITS Regulation 2011, as amended"
        },
        {
            "source": "MARKET_DATA",
            "signal": "type",
            "quote": "description: HANETF ICAV SPROTT URANIUM MINERS ACC ETF USD; category: ETFS"
        },
        {
            "source": "KIID",
            "signal": "investment_objective",
            "quote": "The Fund seeks to track the price and yield performance, before fees and expenses, of the North Shore Sprott Uranium Miners Index"
        },
        {
            "source": "KIID",
            "signal": "asset_class",
            "quote": "publicly listed companies that are involved in the mining, exploration, development and production of uranium and/or hold physical uranium and uranium royalties"
        },
        {
            "source": "KIID",
            "signal": "replication_method",
            "quote": "it will invest in the equity securities of companies in proportion to the weightings comprising the Index"
        },
        {
            "source": "FACTSHEET",
            "signal": "replication_method",
            "quote": "Replication Style Physical"
        },
        {
            "source": "PRIIPS_KID",
            "signal": "derivatives_mentioned",
            "quote": "Investment by the Fund in other collective investment schemes, emerging markets and use of derivatives may involve additional risks"
        },
        {
            "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": "KIID",
            "signal": "securities_lending",
            "quote": "The fund may engage in securities lending activity"
        },
        {
            "source": "PRIIPS_KID",
            "signal": "capital_protection",
            "quote": "The Fund does not include any protection from future market performance so you could lose some or all of your investment"
        },
        {
            "source": "KIID",
            "signal": "complex_index",
            "quote": "The Index is governed by a published, rules-based methodology"
        },
        {
            "source": "KIID",
            "signal": "listed_regulated_markets",
            "quote": "be listed on regulated markets as disclosed in Appendix 1 of the Prospectus"
        },
        {
            "source": "KIID",
            "signal": "commodity_exposure_risk",
            "quote": "The Fund invests in uranium companies, which may be susceptible to fluctuations in the underlying commodities market"
        },
        {
            "source": "FACTSHEET",
            "signal": "crypto_digital_asset",
            "quote": "Sprott Uranium Miners UCITS ETF (URNM) seeks to provide investors with a way to invest in the growth of nuclear power through exposure to uranium miners"
        }
    ],
    "supporting_data": "Hard complex product feature identified: PRIIPs comprehension alert. Policy mode: strict. Product type: ETF. UCITS signal identified. Replication method: physical.",
    "missing_data": [
        "The provided documents mention possible use of derivatives but do not clearly describe the permitted purposes, limits, or whether use is only for efficient portfolio management.",
        "No swap, total return swap, funded swap, unfunded swap, or synthetic replication language was identified in the provided documents.",
        "Counterparty risk is not clearly stated as a product risk in the extracted text, apart from securities lending activity and depositary insolvency/default discussion."
    ],
    "warnings": [],
    "sources": {
        "kiid": {
            "url": "https://oppl.ai/apy/doc_store/IE0005YK6564_KIID.txt",
            "found": true,
            "http_code": 200,
            "bytes": 10628,
            "error": null
        },
        "priips_kid": {
            "url": "https://oppl.ai/eu_kiids/en_txt/IE0005YK6564.txt",
            "found": true,
            "http_code": 200,
            "bytes": 12639,
            "error": null
        },
        "factsheet": {
            "url": "https://oppl.ai/apy/doc_store/IE0005YK6564_FS.txt",
            "found": true,
            "http_code": 200,
            "bytes": 14247,
            "error": null
        },
        "market_data": {
            "url": "https://api.londonstockexchange.com/api/gw/lse/search/autocomplete?q=IE0005YK6564&size=3",
            "found": true,
            "http_code": 200,
            "bytes": 494,
            "error": null
        }
    }
}