{
    "ok": true,
    "_meta": {
        "isin": "IE000GDU4WA8",
        "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": "2026-06-27T12:27:57+00:00",
        "captured_unix": 1782563277
    },
    "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": "Jupiter Global Government Bond Active UCITS ETF",
    "isin": "IE000GDU4WA8",
    "type": "ETF",
    "ucits": true,
    "asset_class": "Fixed Income",
    "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": 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",
        "Derivative use appears limited to EPM, hedging, or risk management"
    ],
    "consumer_understanding": {
        "risk_level": "moderate",
        "drivers": [
            "Less liquid or harder-to-value underlying exposure language",
            "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": "derivatives_mentioned",
            "quote": "Derivatives risk: Derivatives can behave unexpectedly."
        },
        {
            "source": "FACTSHEET",
            "signal": "derivatives_epm_only",
            "quote": "Asset Allocation: Bond Future -0.2% Short \u2013 consistent with efficient portfolio management and duration hedging."
        },
        {
            "source": "KIID",
            "signal": "investment_objective",
            "quote": "The Fund aims to achieve income and capital growth over the medium to long term."
        },
        {
            "source": "FACTSHEET",
            "signal": "replication_physical",
            "quote": "Top Ten Holdings are bonds such as Treasury Notes and International Bank for Reconstruction and Development bonds \u2013 direct holdings."
        },
        {
            "source": "KIID",
            "signal": "ucits",
            "quote": "The Fund is a sub-fund of HANetf ICAV, authorised in Ireland and regulated by the Central Bank of Ireland under the UCITS Regulation 2011."
        },
        {
            "source": "KIID",
            "signal": "non_complex",
            "quote": "No PRIIPs comprehension alert found in the document."
        }
    ],
    "supporting_data": "UCITS physical ETF baseline applied. Policy mode: strict. Product type: ETF. UCITS signal identified. Replication method: physical.",
    "missing_data": [
        "No evidence of securities lending, illiquid/hard-to-value underlyings, or complex index.",
        "No mention of swaps, synthetic replication, or counterparty risk beyond generic description."
    ],
    "warnings": [
        "illiquid_or_hard_to_value_underlying_identified",
        "counterparty_risk_language_identified"
    ],
    "sources": {
        "kiid": {
            "url": "https://oppl.ai/apy/doc_store/IE000GDU4WA8_KIID.txt",
            "found": true,
            "http_code": 200,
            "bytes": 10360,
            "error": null
        },
        "priips_kid": {
            "url": "https://oppl.ai/eu_kiids/en_txt/IE000GDU4WA8.txt",
            "found": true,
            "http_code": 200,
            "bytes": 13327,
            "error": null
        },
        "factsheet": {
            "url": "https://oppl.ai/apy/doc_store/IE000GDU4WA8_FS.txt",
            "found": true,
            "http_code": 200,
            "bytes": 21083,
            "error": null
        },
        "market_data": {
            "url": "https://api.londonstockexchange.com/api/gw/lse/search/autocomplete?q=IE000GDU4WA8&size=3",
            "found": true,
            "http_code": 200,
            "bytes": 500,
            "error": null
        }
    }
}