Case Studies

BENEFITS OF TAX RECOVERY

  • Taxable investors who recover over-withheld tax can boost ROI by 30 basis points per year
  • Tax-Exempt investors annually realize 50+ additional basis points of risk-free performance

CASE STUDIES

Hedge Fund Client A

Client Profile

  • Assets Under Management: $100 Billion+
  • GlobeTax Client Since: 2010
  • Fund Structure: Master-Feeder Funds, LLCs, Partnerships, and more
  • Investment Strategy: Multiple; Fundamental and Technology-Driven, Quantitative approaches

Challenge

  • Due to the high trading volume, investment principles could not manage monitoring tax recovery opportunities across dozens of funds with different structures and investors
  • Reconciling among multiple prime brokers/custodial arrangements added additional complexity to the reclaim process

Solution

  • GlobeTax services 90 client accounts across multiple service providers
  • We have filed nearly 18,000 reclaims to recover $46 million in tax entitlements
  • The client has seen a significant benefit in Switzerland, South Korea, Canada, Japan, Sweden, Germany, Finland, Italy, and more
Hedge Fund Client B

Client Profile

  • Assets Under Management: Nearly $50 Billion
  • GlobeTax Client Since: 2012
  • Fund Structure: Partnership
  • Strategy: Long-Short with Concentrated Positions

Challenge

  • Due to substantial position size, the fund enjoyed many claim opportunities
  • The client leveraged 6 brokers and custodians, making reconciliation difficult

Solution

  • GlobeTax services 18 accounts
  • Has filed more than 1,350 claims to recover over $20 million
  • The client realized tremendous benefit in Canada, Ireland, Switzerland, and the Netherlands
  • Helped client comfortably outperform the S&P 500 Index for over a decade

CASE STUDIES

Client Profile

  • U.S. Institutional Wealth Management Business
  • Assets Under Management: $350+ Billion
  • Financial Advisors: 1,800

Challenge

  • The client was only providing Relief at Source in 3 markets to a portion of their client base
  • The client struggled to produce and renew the documents needed to provide Relief at Source and Standard Reclaim in all possible markets for millions of investor accounts

Solution

  • GlobeTax provided an enterprise-level Relief at Source, Quick Refund, and Standard Reclaim solution to secure client tax entitlements in 40+ markets
  • GlobeTax and the client established an organization-wide feed to send daily and monthly data. Worked with client’s third-party platform provider to automate sending data
  • GlobeTax produced pre-populated document packages and secured investor Certificates of Residency
  • In 2020, GlobeTax recovered $26 million for account holders, recovering more tax entitlements, faster, and for a smaller fee
  • Client expanded assets under management, enjoyed a new revenue stream, created a tax center of excellence, and reduced risk due to automated data transfer and processing