Are You Maximizing Portfolio Performance?

Effective global tax reclamation can enhance the performance of a portfolio by upwards of 50 basis points annually. As the scope of fiduciary duty continues to grow, managers are under more pressure to show compliance in various aspects of their business operations, including tax reclamation. Contact us to discuss a free analysis highlighting how our services can maximize your international portfolio returns.

Partnerships

Most partnerships are treated as tax transparent entities because the underlying partners – rather than the partnership – are subject to tax. Disclosing the required partner-level information to a tax authority at the time of payment is difficult, resulting in taxation at the highest statutory rate. GlobeTax works with nominees to streamline the process of reclaiming over-withheld taxes by maintaining current listings and helping to fulfill documentation requirements for the partners on an ongoing basis.

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Hedge Funds

Most hedge funds do not maintain the in-house staff and infrastructure necessary to effectively file reclaims on behalf of their funds and investors. Prime brokers generally have limited knowledge of the underlying partners of their hedge fund clients, and therefore do not have the information required to file reclaims.

 

GlobeTax maintains long-standing relationships with all major prime brokerages, and contracts directly with their fund clients in order to preserve strict confidentiality. A fund engaging in tax reclamation for the first time may be entitled to multiple years of recovery. Statutes of limitations vary by market, ranging between two to eight years.

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Mutual Funds

GlobeTax works directly with mutual funds and RICs, reclaiming on their behalf and depositing refunds directly into their accounts. We can analyze the level of tax reclamation services an organization is currently receiving, free of charge. GlobeTax has facilitated the recovery of billions of dollars in excess withholding, assisting funds in maximizing investment returns. Tax reclamation can enhance portfolio performance by upwards of 25 basis points annually.

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Collective Investment Vehicles (CIVs)

CIVs are a broad and growing category of pooled investment vehicles often structured as a form of Trust. As a result, these CIVs are deemed to be tax transparent entities, causing tax authorities to require ultimate beneficiary information to grant tax relief. This has caused the highest, statutory rate to be applied with greater frequency, requiring CIVs to file tax reclaim applications to recover excess withholdings. GlobeTax works with nominees to streamline the process of reclaiming over-withheld taxes by maintaining current listings and helping to fulfill documentation requirements for the investors on an ongoing basis.

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Trusts

Trusts are often deemed to be tax transparent entities because the trust itself does not pay tax in its home country, rather it is the beneficiaries that are subject to tax. Due to the difficulty in disclosing required ultimate beneficiary information to a tax authority at the time of payment, the highest, statutory rate is typically applied. GlobeTax works with trusts to streamline the process of reclaiming over-withheld taxes by maintaining current listings and helping to fulfill documentation requirements for the beneficiaries on an ongoing basis.

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Family Offices

Family Offices tend to have a variety of legal entity structures through which the family’s wealth is managed (e.g. trusts, foundations, partnerships, etc.). Due to the range of requirements for these legal entities to file for tax reclamation, the process is far more complicated to manage effectively. GlobeTax works with Family Offices to maximize entitlement recoveries while minimizing the amount of work required from investors.

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Financial Advisors (FAs)

GlobeTax assists FAs and their many different types of clients by recovering over-withheld cross-border tax. We identify potential entitlements, submit claims, and ultimately post refunds to clients’ account(s) directly. GlobeTax’s service helps ensure that FAs maximize performance, deliver greater client satisfaction and demonstrate consideration for their clients’ best interests.

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Registered Investment Advisors (RIAs)

GlobeTax assists RIAs and their many different types of investing clients by recovering over-withheld cross-border tax. We identify potential entitlements, submit claims, and ultimately post refunds to clients’ account(s) directly. Leveraging strategic long-term relationships with virtually all major custodians and prime brokerage firms, GlobeTax helps ensure that RIAs maximize performance, deliver greater client satisfaction and demonstrate consideration for their clients’ best interests.

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