(Another) story of complex derivatives sold to naive investors.
- Fujita Health University, which runs one of Japan’s biggest hospitals, lost $240 million on currency derivatives.
- Nanzan University in Nagoya said this year it had lost over $230 million
Relates to”Power reverse dual currency bonds” –
known by the acronym PRDC – offered a higher return at a time when the yield on 10-year Japanese government bonds was stranded at less than 1 percent.