Apex Group Ltd. (“Apex Group”), a leading global financial services provider with over $3.5 trillion in assets serviced, today announced a strategic global partnership with Global Tax Recovery, a specialist in recovering excess foreign withholding tax on dividends and interest.
Foreign withholding tax can have a significant impact on investment returns. In many jurisdictions, investors are entitled to recover half of the dividend tax suffered. Recovering this tax is one of the most effective ways to increase investment alpha and improve overall fund performance. The process is complex, varies across markets, and requires specialist expertise to manage effectively.
Following a detailed review, Apex Group selected Global Tax Recovery for its technical depth, operational efficiency, and strong track record supporting major global financial institutions. Global Tax Recovery manages the full administrative and government process from start to finish, giving clients a seamless turnkey solution.
Under the partnership, Apex Group will introduce Global Tax Recovery to its clients as a preferred vendor. FundRock will work exclusively with Global Tax Recovery for all withholding tax recovery across its assets.
Peter Hughes, Founder and CEO of Apex Group says;
“This partnership strengthens our commitment to delivering the highest standard of investment services and maximizing value for our clients. Recovering foreign dividend tax is an important source of performance improvement, and Global Tax Recovery brings the depth and expertise needed to manage this process effectively across jurisdictions.”
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About Apex Group
Apex Group is dedicated to driving positive change in financial services while supporting the growth and ambitions of asset managers, allocators, financial institutions, family offices, and sovereigns.
Established in Bermuda in 2003, the Group has continually disrupted the industry through its investment in innovation and talent.
Today, Apex Group sets the pace in fund and asset servicing and stands out for its unique single-source solution and unified cross asset-class platform which supports the entire value chain, harnesses leading innovative technology, and benefits from cross-jurisdictional expertise delivered by a long-standing management team and over 13,000 highly integrated professionals in over 50 jurisdictions.
Apex Group leads the industry with a broad and unmatched range of services, including capital raising, business and corporate management, fund and investor administration, portfolio and investment administration, ESG, capital markets and transactions support, as well as digital and AI solutions. These services are tailored to each client and are delivered both at the Group level and via specialist subsidiary brands.
The Apex Foundation, a not-for-profit entity, is the Group’s passionate commitment to empower sustainable change.
About Global Tax Recovery
Global Tax Recovery is a leading global specialist that provides many of the world's most respected financial institutions with a seamless turnkey solution to recovering excess withholding tax on foreign dividends and interest earned. Global Tax Recovery services over 1000 institutional clients with a combined AUM exceeding $10 Trillion. These clients are made up of banks, asset managers, wealth managers, pension funds and sovereign wealth funds. Global Tax Recovery delivers a fully outsourced, end-to-end solution that manages the complexity associated with cross-jurisdictional recovery. With an extensive geographical footprint and global network of specialists covering more than 40 investment jurisdictions, these teams can accommodate any client’s specific needs and are experts in their local jurisdictions. With a zero-risk, no-recovery-no-fee model, Global Tax Recovery enables clients to unlock significant investment alpha without operational burden.
