Both Malta and the Cayman Islands are well-known tax havens. The University of Toronto’s endowment and pension funds have investments in two offshore tax havens including a Cayman Islands company founded by U.S. Secretary of Commerce and billionaire Wilbur Ross, newly leaked documents reveal. But for publicly funded institutions of higher learning and open dialogue, the move into secretive offshore tax havens comes with risks, experts say. it’s a very small position.”U of T’s pension fund sat at $4 billion as of June 2016. Universities can make good returns while still choosing ethical investments outside of tax havens, he says.

Source: thestar November 08, 2017 20:15 UTC