A number of large corporations in the US use overseas markets as tax havens. Apple has 90% of it’s cash offshore. Under current US tax laws corporations pay 35% tax on money brought in from overseas markets. Similarly Wal-mart has $76bn in assets overseas. Companies are looking for ways to make use of the money and assets they hold in overseas markets.
This presents asset managers in overseas markets an opportunity to manage large amounts of assets. However for the US this is not a situation to be happy about. Can asset managers in these overseas markets do more to benefit from this ?
Links to articles relating to Apple and Wal-marts overseas holdings are below