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PREMIUM‘Political dynasties’ to take center stage again in 2020 elections

first_imgGoogle LOG INDon’t have an account? Register here Forgot Password ? Children of President Joko “Jokowi” Widodo, Vice President Ma’ruf Amin and Cabinet Secretary Pramono Anung are all seeking public office in various regions, yet they deny accusations that they are building political dynasties.Voters of Surakarta in Central Java, Medan in North Sumatra, South Tangerang in Banten and Kediri in East Java are to determine whether the highly connected candidates can fulfill their political ambitions in the Sept. 23 regional elections. The candidates would also be testing whether their fathers can help bring them victory.President Jokowi’s eldest son Gibran Rakabuming Raka announced at the end of 2019 that he would run to be mayor of Surakarta. Jokowi’s son-in-law Bobby Nasution also said he would run for mayor in Medan. Meanwhile, the fourth daughter of the Vice President, Siti Nur Azizah, is running… Facebook Jokowi Maruf-Amin RegionalElections political-dynasty Dynasty Gibran-Rakabuming-Raka Bobby-Nasution election Linkedin Topics : Log in with your social accountlast_img read more

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Nerang family home sells for $1.67 million

first_img219 Crane Cres, Nerang sold for $1.67 million.A NERANG mansion has changed hands for $1.67 million.“Queens Ridge House” at 219 Crane Cres has 980sq m of internal living area including six bedrooms and four bathrooms. There is 980sq m of internal living area.“This executive, luxurious home takes advantage of its elevated position within the prestigious Surfers Country Estate, showcasing the spectacular views of the Gold Coast and Surfers Paradise Skyline while offering a serene and private lifestyle,” the listing states.More from news02:37Purchasers snap up every residence in the $40 million Siarn Palm Beach North4 hours ago02:37International architect Desmond Brooks selling luxury beach villa1 day ago“Set over three commanding levels its style and quality is presented throughout the six bedrooms, multiple living areas, theatre room, gym, wine cellar and a triple car lock up garage all adding to the properties luxe appeal. Entertain in style.“A resort style salt water pool overlooks this rich lifestyle land and is paired with a huge undercover alfresco area, perfect for summer days and entertaining.”Ray White — Surfers (Benowa) agents Mark Rustin and Carita Lanham handled the sale. There is plenty of space for the whole family.CoreLogic records show the property had been on and off the market since 2010.It had most recently been rented out at $1750 per week.The median house price in Nerang is $445,000 while the median house rent is $460. Luxury details are included.last_img read more

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Impose fiduciary duty on UK asset managers, task force says

first_img“They can also adversely impact incomes during the working years because pension scheme costs can help to destabilise the financial viability of a business, leading ultimately to the closure of the firm and the loss of jobs.”The task force urged regulators, including the Financial Conduct Authority in its forthcoming interim report on the asset management market, to pay greater attention to costs.The asset management industry has previously warned against imposing a fiduciary duty on the industry, repeatedly arguing it was not a legal principle but rather a set of morals. An attempt by the Investment Association, the UK industry body for asset managers, to draft a code of conduct for its members was not welcomed by all industry participants and led to the departure of the IA’s chief executive Daniel Godfrey last year.As part of the focus on fees, the task force also proposed managers be forced to comply with a “professional duty of care to put consumers’ interests ahead of their own” – a fiduciary duty in line with the responsibilities placed on pension trustees in the UK.The task force pointed to the recent Financial Services Consumer Panel report on fees, which backed the recommendation, and was informed by a research paper authored by Sier.Sier added: “The basic problem is that, in general terms, there are so many costs outside of those the consumer or trustee is told about, particularly those deemed to be a change in the market value of assets – that’s where the implicit costs tend to be hidden.”He pointed to the success enjoyed by the West Midlands Pension Fund in uncovering some of the fees incurred through its external investment management – which has seen management costs rise by more than £70m (€90.3m) from its initial £11m.Discussing the increased costs, Sier added: “‘Interesting’ is one word that springs to mind, but there are alternatives.” UK asset managers should be subject to a fiduciary duty to act in clients’ best interests, according to the Transparency Task Force, which is also calling for greater clarity on investment fees.The group made the demand as it estimated pension funds were subject to more than 100 types of costs and charges, and questioned whether high management costs risked destabilising pension funds and their sponsors.Christopher Sier of Newcastle University, leader of the task force’s costs and charges team, argued that charges could impact retirement income and company solvency, pointing to the recent collapse of UK retailer BHS.“Policymakers need to understand hidden pension scheme costs and charges don’t just adversely impact incomes at retirement,” he said.last_img read more