Wednesday October 21, 2020

Losses double at Apple’s €14bn escrow fund

The account’s low-risk investment strategy has failed to pay dividends, and further declines are likely

Ian Guider

Markets Editor

5th July, 2020
Tim Cook, chief executive, Apple

Losses on the €14 billion Apple escrow account have more than doubled, as the fund struggles to generate returns on its low-risk investments.

The escrow account, set up to manage the back tax that the iPhone maker may owe the state, also had an outflow of almost €210 million to allow the company to meet a tax liability in another country.

According to filings last week by the National Treasury Management Agency, which oversees some...

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