Meet the world’s largest hedge fund: Apple
Apple subsidiary Braeburn Capital is now the world’s largest hedge fund, according to reports.
According to Tom’s Hardware, the subsidiary is responsible for managing and investing Apple’s massive cash pile, which stood at around $US117 billion in assets as of the end of June.
In contrast, Bridgewater Associates is estimated to manage around $US100 billion in assets.
Braeburn is also believed to play an important role in Apple’s worldwide tax strategy, which led to estimates in May that the company was effectively paying just 9.8% tax.