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
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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