Case Study: State Pension Fund Recovers $12M in Historic WHT Claims
Cross-border dividends rarely arrive “clean.” Source markets apply withholding tax (WHT) at payment, then expect investors to prove entitlement to any lower rate or exemption. That structure makes pension fund WHT a recurring performance drag when governance and evidence do not keep pace with portfolio complexity. This case study follows a state pension fund that […]
Case Study: How a $5 Billion Fund Recovered 23bps Through Systematic WHT Recovery
Executive summary This fund WHT recovery case study follows an anonymised $5 billion global equity fund that treated withholding tax (WHT) leakage as an unmanaged performance drag for too long. Leadership changed the framing, and they moved WHT recovery into a governed operating model with clear ownership, audit-grade evidence standards, and measurable cash conversion. Over […]