The latest news in investment offerings, financial products and other services relevant to wealth advisors and their clients.

State Street, Albilad Capital
State Street has agreed to co-operate with Saudi Arabia-based Albilad Capital, a business that specialises in securities services and asset management. 

Under this pact, the US-headquartered firm will support Albilad Capital’s securities services offering in the Kingdom, it said in a statement yesterday.

The collaboration aims to strengthen the Saudi financial and capital markets by combining State Street’s solutions with Albilad Capital’s market expertise.

State Street established local Saudi operations in 2020. It manages $127 billion in assets under custody and/or administration and $60 billion in assets under management for clients in the Kingdom.

Goodhart Partners
UK-regulated Goodhart Partners said yesterday that it has secured more than £100 million ($131.8 million) in launch commitments from investors.

The four funds being launched by Goodhart are Goodhart Global Real Return Fund; Goodhart Global Future Leaders Fund; Goodhart Global Smaller Companies Fund; and Goodhart European Fund.

The Goodhart Global Real Return Fund is led by Alan Bartlett, Sandy Nairn and James Sym. It aims to achieve a 5 per cent real return per annum over rolling five-year periods with low equity correlation over a cycle and resilient downside protection. 

Goodhart Global Future Leaders Fund is to be managed by Russell Champion and Andrew Heap, focussing on companies that have the potential to generate a 15 per cent annualised return over a typical five-year holding period. 

Goodhart Global Smaller Companies Fund is led by Richard Tennant, supported by Russell Champion and Andrew Heap. It selects cash-generative smaller companies with significant long-term upside potential.

Goodhart European Fund, which is to be managed by James Sym, is a European ex UK equity fund focused on misunderstood opportunities within which positive change is predicted to drive substantial value creation, the firm said. 

“With market returns likely to be lower on a forward-looking basis, investors recognise that they are going to have to look further afield, across different financial profiles, to generate meaningful returns,” Gary Tuffield, managing partner at Goodhart, said.

Founded in 2009, Goodhart is an independent, London-based global equity investment boutique. It holds a minority stake in Asset Value Investors, a UK-based boutique. AVI managed about £2 billion ($2.62 billion) in AuM as at the end of September.

Guinness Global Investors
Guinness Global Investors is lowering fees across its range of funds. It is resetting its distinctive waterfall fee structure to pass on to investors the cost reductions it has achieved and will achieve in the future from economies of scale.

The effect of the waterfall structure is that when assets under management (AuM) in any of the 10 funds reaches the waterfall level, marginal fees will be reduced to 0.55 per cent, passing on economies of scale to investors through lower blended fees as the funds grow.

The waterfall structure has resulted in reductions in fees for standard “Y” share classes in the £5.4 billion ($7.12 billion) Guinness Global Equity Income Fund from 0.99 per cent to 0.77 per cent. Changes to the Guinness Global Equity Income Fund’s waterfall fee structure will "lock in" the lower fees, the firm said in a statement.

From 17 November 2025, 10 of its Irish-domiciled funds, including the £1.1 billion Global Innovators Fund and £240 million Asian Equity Income Fund, will apply lower fees on “Y” share classes that are similar to its Guinness Global Equity Income Fund fees.

“Investors will be able to access our strategies with even lower costs thanks to this reduction in our fees. Lower fees support our aim of delivering first-quartile long-term performance for our investors,” Edward Guinness, CEO, Guinness Global Investors, said.