Japan FSA asks for transparent double-deckers

The Japanese regulator has implemented new rules to increase transparency of complex fund products such as double-deckers, structured products that became popular last year and have been added to with the creation of the triple decker. Viren Vaghela reports

Japan cracks down on complex funds

In Japan's multi-decade deflationary environment, the options for investors are limited: stick to Japanese government bonds (JGBs) and receive certainty over retaining your principal if little in the way of returns, or opt for something a little racier in the search for yield.

Japanese investors, particularly those in the 60-69 year age group, who are contemplating a long retirement on a low-yielding asset base, have opted for the latter - with volumes of so-called ‘double-decker' products