A European insurance company has tendered a €200m Asia ex Japan equity mandate using IPE-Quest.The company behind search QN1451 said it preferred an active management style to invest in large-cap Asian equities.The investor said it expected this to be done with a growth and value investment style bias.Managers should observe a minimum tracking error of 3% against the MSCI AC Asia ex Japan or MSCI EM Asia indices. The insurance company stipulated the tracking error should not extend above 14%.Interested managers must have at least $500m (€390m) in assets under management within the mandate, and $1bn in assets overall.There is a minimum requirement of a three-year track record, although the investor stated a preference for a five-year record for the fund.All requirements for tracking error, assets under management and track records are soft limits.Applicants have until 22 September to apply.Performance should be stated to 30 June and provided gross of fees.The IPE.com news team is unable to answer any further questions about IPE-Quest tender notices to protect the interests of clients conducting the search. To obtain information direct from IPE-Quest, please contact Jayna Vishram on +44 (0) 20 7261 4630 or email [email protected]
These schemes have reduced equities allocations to 42.5% in 2014 from 47.5% in 2013, while expanding their allocation to bonds to 41.2% from 36.7%.This development followed the trend of recent years, the association said, with equities allocations having fallen from 66.3% of total DB assets at the end of 2007, and bonds having expanded from an 18.5% allocation.This was due to a combination of a general move away from riskier assets and regulatory pressure, Moriarty said. The Irish regulator has repeatedly let its displeasure over the level of equity risk in the DB system be known. “However, with bonds providing very low or negligible returns, schemes are under pressure to find assets that provide returns but maintain risk at acceptable levels,” Moriarty commented.Schemes were trying to balance regulatory pressure to move more assets into bonds, at a time when those bonds carried both a significant investment risk and little or no return, he said. “The significant outside forces of QE have undermined and almost reversed the status quo of pension investment strategy, which is likely to require a rethink at a macro level,” Moriarty said.Allocations to alternatives within DB schemes increased to 8.0% at the end of 2014 from 7.2% a year before, with 6.2% of assets invested in absolute return funds and hedge funds.The survey showed that defined contribution schemes still preferred active management with an increase in assets managed this way to 68.5% in 2014 from 67.4% in 2013.For DB schemes, however, passive management was becoming increasingly prevalent, with 62% of them managed this way at the end of 2014 compared to 54% in 2011, the data showed. Pension savings in Ireland have staged a strong recovery since the financial crisis, growing by 70% to €107.8bn at the end of 2014, data from the Irish Association of Pension Funds (IAPF) shows.The association said in its latest annual investment survey that this was the highest level of pension savings on record, with assets having risen from €63.5bn at the end of 2008, and from €91.5bn at the end of 2013.Jerry Moriarty, chief executive of the IAPF, said: “While there are many issues that need to be addressed to ensure that more people can enjoy retirement, we often lose sight of the fact that we have a well-developed pensions system in Ireland with a substantial amount of savings.”Defined benefit schemes (DB) — whose assets stood at just over €67.4bn at the end of last year — increased their bond exposure in the course of last year at the expense of equities allocations, the survey revealed.
The Pensions and Lifetime Savings Association (PLSA) has scotched any suggestion it could quit PensionsEurope in the wake of the UK’s vote to leave the European Union, saying it remains a fully committed member of the Brussels-based industry body.In a statement to IPE, the PLSA’s chief executive Joanne Segars said the two associations had a “busy agenda of work to do together”, removing the risk of PensionsEurope’s losing the PLSA’s sizeable annual membership fee.Segars, until late last year chair of PensionsEurope, noted that the UK’s future relationship with the EU would take “some years” to be settled.“In the meantime,” she said, “we continue to work closely together with PensionsEurope, sharing our expertise so we can continue to represent the interests of our respective members.” In a statement commenting on the result of the UK referendum, Janwillem Bouma, chair at PensionsEurope, said the PLSA “remains an important and valued member of PensionsEurope”.He said the industry group “regrets” but “respects” the outcome of the vote and emphasised the importance of the UK government and EU institutions’ developing a clear plan and timetable for the next steps.The PLSA, which represents the interests of Europe’s largest pensions market, would not be PensionsEurope’s only non-EU member, as the Norwegian Association of Pension Funds and the Icelandic Pension Fund Association are full members.Both countries, as members of the European Economic Area (EEA), are still subject to European regulation, such as the revised IORP Directive, and Solvency II.The Swiss pension association ASIP is also a full member, despite Switzerland’s not being within the EU or EEA.The PLSA is likely to be PensionsEurope’s largest and most financially stable member association, contributing fees equivalent to more than one-tenth of its annual budget.Its departure would have left a sizeable shortfall in the European association’s budget, understood to be less than €1m.In 2014, the then-National Association of Pension Funds (NAPF) paid membership fees of £92,392 (€119,328) to PensionsEurope and reported income of £8.1m, according to accounts filed with the UK’s Companies House.The NAPF, which has since rebranded as the PLSA, has seen its contributions increase steadily in recent years, in 2011 only measuring £85,964.In contrast, the smaller Irish Association of Pension Funds, which reported income of €877,463 in 2014, paid €39,201 in PensionsEurope membership fees, according to company accounts.The Dutch Pensions Federation – representing the second-largest European pension market, with assets well over €1trn – is likely to make contributions on a similar level to that of the PLSA.However, the Dutch association has a significantly smaller pool of pension fund members from which to draw income, while it also maintains a full-time Brussels secretariat manned by Sibylle Reichert.PensionsEurope not only draws income from full members but, in 2015, began organising its own events and operates a corporate and supporter membership.The 27 corporate members listed on its website – which include Swedish pension provider Alecta, the Ontario Municipal Employers Retirement System of Canada and several large asset managers – pay €7,918 a year for the membership, according to a current brochure explaining its benefits.In the week since the Brexit referendum, which saw 51.9% of votes cast in favour of leaving the EU, politicians from the UK’s governing Conservative party have suggested the UK should retain its access to the single market.It remains unclear how this would be achieved, as a number of member states, notably Germany, have stressed that EEA membership would be contingent on maintaining the free movement of people – something parts of the Conservative party have rejected.
Jonathan Lima-Matthews, IPSE senior policy adviser, said: “With just 31% of the self-employed saving into a pension, we must take urgent action to avert a looming crisis.”He described self-employment as a progressive way of working, but said current pension provisions did not cater to the sector’s needs.“While auto-enrolment has been a successful policy for boosting the number of employees paying into a pension, our research found it’s simply not a viable savings solution for the self-employed,” he said. “There is no employer to enrol them, and it also reduces their ability to be flexible and in control of their money – two of the fundamental attractions of self-employment.”The government proposed several measures to expand its auto-enrolment policy in December, including testing “targeted measures” for self-employed workers to improve saving levels.IPSE’s report was based on research into the attitudes of more than 1,000 people, alongside “a broad consultation with the industry and government”.The organisation also made specific recommendations, advocating for a “sidecar pension scheme” for the self-employed, which would allow them to save for later life and also into a separate ‘rainy day’ fund for emergencies. The forthcoming financial guidance body for the UK – to be set up later this year – should provide tailored advice on how the self-employed can save for later life, IPSE added.The UK’s Department for Work and Pensions is due to test several options designed to improve pension saving for the self-employed. The UK’s auto-enrolment system for workplace pensions should not be extended to include self-employed people, a lobby group for independent workers has said.IPSE – the Association of Independent Professionals and the Self-Employed – instead called on the government and the pensions sector to come up with other ideas to help the self-employed save for the future.Less than a third (31%) of the UK’s 4.8m self-employed workers are paying into a pension, according to a report published by IPSE. In addition, 67% said they were concerned about saving for later life.The report criticised the idea of auto-enrolment for freelancers and independent workers, pointing out that only 36% of respondents said they would stay enrolled in a pension scheme. A quarter said they would opt out, and 38% said they were unsure.
Dariush Yazdani, partner and head of PwC’s Market Research Centre, said: “The world is ageing. This is placing considerable strain on already stretched pension fund assets.”He added: “This strain has led many pension funds to examine their foreign investment limits. In recent years, many pension funds have sought to spread their risk and increase yield by increasing their foreign investment limits.”Dutch pension assets were equivalent to an estimated 169% of the country’s €795bn GDP at the end of 2018.The ratio of pension assets to GDP has been increasing during the last few years as pension assets grew much faster than GDP, with a 6.2% compound annual growth rate (CAGR) from 2014 to 2018 compared to a 1.9% GDP growth in the same period, the report disclosed.The pension market in the Netherlands is well developed and is one of the most mature with an €1.3trn estimated assets under management in 2018.Moreover, the market is fairly concentrated, with the largest 10 pension funds holding 74.5% of total pension assets. ABP, the country’s largest pension fund, is on the 2019’s Leaders List of the 25 World’s most responsible asset allocators, PwC said. In 2018, 94% of Dutch pension schemes were defined benefits (DB) schemes. The survey also found that asset allocation of Dutch pension funds is diversified with an estimated 29% invested in equities, 46% in bonds, 3% in money market and 21% in alternative investments.Pension funds in the Netherlands invest around half of their assets directly, with an estimated 50% allocated through investment funds.LimitsFourteen of the surveyed countries, including the Netherlands and Belgium, do not have any set limits to foreign investments for their pension funds.Five countries, including Denmark, Norway and Spain, do not have any investment restrictions as long as the investments are made in OECD member states.Stricter limits apply to pension funds in 11 countries, such as Poland, where pension funds can’t invest more than 30% elsewhere.PwC said these restrictions in particular were the reason that pension funds invested only a small amount of their assets abroad. The stakes of Poland, the Czech Republic and Germany were 8%, 10% and 13%, respectively.ConsolidationThe Dutch retirement industry is strongly consolidating – there are around 250 schemes – as the number of pension funds has been divided by three over the past 10 years and PwC expects this trend to continue.Alongside pension funds increasingly looking beyond their borders, the imbalance between employed contributors and retired beneficiaries is shifting the market towards defined contribution (DC).In 2018, assets in DC plans overtook those is DB for the first time, the survey found. This is as DB plans become less able to address the risks that arise from ongoing demographic shifts across the globe, Yazdani said.DC schemes, on the other hand, are better equipped to do so due to automatic adjustments, he added. Dutch pension funds have had the highest percentage of assets invested abroad, with a percentage of around 87% at the end of 2018, compared to other OECD countries, a survey by PwC has shown.The firm, which examined 31 of the 36 OECD countries for the Association of Luxembourg Fund Industry (ALFI), has found that foreign investment by the countries’ pension funds had risen to 38% from 31% on average since 2014.Within this period, foreign holdings of Dutch pension funds had increased by six percentage points.It said that pension funds in Finland and Portugal came second and third, with 75% and 65%, respectively. In 2018, the UK had invested 22% of its assets overseas.
The Pensions Federation indicated that it was not pleased with the minister’s explanation which, in its opinion, will lead to an unnecessary administrative burden for pension funds.Last year, the industry organisation had already said that registering pension board members as UBOs was “not appropriate and disproportional”.As part of the EU’s anti money laundering policy, all EU member states must keep a register of ultimate stakeholders of legal bodies and entities, which is accessible for the police, tax authorities as well as the Public Prosecutor.It hadn’t been clear for a while whether pension fund trustees qualified as UBOs.Although they are board members of pension funds managing large amounts of money, they don’t own the pension funds or their assets.The Pensions Federation had also argued that asset managers also check their clients for money laundering risks and financing of terrorism. All trustees of Dutch pension funds must register as “ultimate beneficial owners” (UBOs) as part of the European Union’s policy against money laundering, the Dutch finance minister has said.Answering questions posed by the Christian Democrats (CDA) in the senate, Wopke Hoekstra said he didn’t want to make an exception for board members of pension funds.However, he acknowledged that it was unlikely that pension funds harboured natural persons who qualified as UBOs based on interests as an owner, voting rights or right of say.If an UBO at a pension fund can’t be clearly identified, the scheme’s entire board must be registered as a “pseudo UBO”, Hoekstra stated.
Norway’s sovereign wealth fund – the world’s largest owner of equities – made its second highest return in percentage terms ever last year, topped only by the bounce back that followed the global financial crisis in 2009.Releasing annual results for the Government Pension Fund Global (GPFG) this morning, its manager Norges Bank Investment Management (NBIM) presented a picture of a fund now more heavily dominated by the stock of tech giants Apple, Microsoft and Alphabet, and finally having reached its strategic allocation to equities.Yngve Slyngstad, NBIM chief executive officer, said in its latest annual report: “2019 brought a record-high krone return of NOK1.692tn (€164bn), and the percentage return was the second-highest in the fund’s history, topped only by the rebound from the financial crisis in 2009.”The return of 19.9% for the year follows the 2018 loss of 6.2%, but is still below the 25.6% return the fund achieved in 2009 after the 23.3% loss it suffered the year before. The market value of the fund, which was created to invest Norway’s oil revenues, increased to NOK10.1tn at the end of 2019 from NOK8.3tn a year before, mainly on its investment returns, but also because of an NOK18bn transfer of capital from the government and the effect of the krone depreciating against several major currencies during the year, which added NOK127bn, NBIM reported.The net contribution into the oil fund from the government comes after 2018’s inflow, which followed a two-year period when for the first time the government was making net annual withdrawals from the fund.Of the GPFG’s three main asset classes, equities returned 26% last year, unlisted real estate investments produced 6.8% and fixed income investments generated 7.6%.The fund beat its benchmark by 0.23 percentage points, the Oslo-headquartered manager reported, saying stock picking had been the biggest single contributor to this outperformance.The executive board said in the annual report that of the three main categories of investment strategies the fund used, fund allocation had contributed negatively to the relative return, while security selection and asset management both contributed positively.“The single largest contribution to the relative return in 2019 came from internal security selection in equity management,” the board said.In terms of the three asset classes, the board said real estate management had made a negative contribution to the relative return, while both equity and fixed income management had made positive contributions in 2019. Yngve Slyngstad, chief executive officer at NBIMNBIM’s allocation to equities surged during the year to 70.8% from 66.3% at the end of 2018, while bonds declined to 26.5% of the GPFG from 30.7%. Unlisted real estate dipped to account for 2.7% of the fund from 3% in 2018.This level of equities exposure brings the sovereign wealth fund up to the strategic allocation to equities in its benchmark index of 70%, which was set in 2017.The fund boosted its equity investments particularly in the last two months of 2018 when stock markets around the world were falling, NBIM revealed a year ago.The oil fund’s holdings of technology giants ballooned in 2019, the annual report showed, with the top two increasing their size lead over the fund’s other top 10 equity investments.Investments in Apple jumped to NOK125bn at the end of last year including both equities and bonds, up from NOK70bn a year before, while holdings in Microsoft equities and debt rose to NOK106.9bn from NOK67bn.These holdings were much larger than the fund’s third biggest corporate exposure of NOK78.4bn to Alphabet, whereas in 2018 the gap between the second and the third on the list had been much narrower at around NOK4bn.
APG, BlackRock, Notariaat, British Business Bank, Invesco, Achmea IM, Invesco, Notariaat, NN IP, Federated Hermes, Franklin Templeton, Chronos Sustainability, BNP ParibasAPG – The €512bn Dutch asset manager is looking for a research director for its Asset Owner SDI platform, which aims to help asset owners invest in line with the UN’s Sustainable Development Goals. APG refers to these investments as sustainable development investments (SDI).The research director will be the initiative’s first employee, responsible for the maintenance and development of the research agenda in conjunction with the partners of the platform. APG said the role was crucial, as the research agenda would drive the further development and strategic direction for platform.The research director will also be the liaison between leading asset owners in the area of responsible investing and the data science company to which the identification and calculation of SDIs has been commissioned. APG said “affinity with data science” was an important attribute for the role. BlackRock – Michael Rüdiger is replacing Friedrich Merz as chair of the supervisory board of BlackRock Asset Management in Germany.Rüdiger was most recently CEO of Dekabank, the securities house for savings banks in Germany, and before that CEO at Credit Suisse for central Europe. He has also worked at Allianz Asset Management and UBS.At BlackRock, he will also take on a broader role providing strategic advice to the management team under the direction of Dirk Schmitz. Merz left his post at the end of the first quarter, having previously announced his intention to return to politics to support the “renewal” of centre-right party CDU.Notariaat – Hennie de Graaf has been appointed as a member of the supervisory board (RvT) of the €3bn Dutch pension fund for notaries and their staff as of 1 July. De Graaf is a pensions lawyer, who – in addition to his regular job – has been in supervisory positions at pension funds since 2016. At Notariaat, he succeeds Xander den Uyl. The scheme’s RvT also comprises Paul Braams (chair) and Carolien van Eggermond.British Business Bank – Catherine Lewis La Torre has been appointed interim CEO of the government-owned economic development bank with effect from 1 September, as Keith Morgan prepares to step down. Lewis La Torre currently holds the position of CEO of the bank’s two commercial subsidiaries, British Patient Capital, which is targeting institutional investors for its venture capital funds, and British Business Investments.Morgan last October announced he would be standing down from the role of CEO of the British Business Bank by the end of 2020, after eight years at the helm. Lewis La Torre joined the British Business Bank in 2016 from Cardano Risk Management, where she was head of private equity. Before that she was a partner with secondaries specialist, Fondinvest Capital, in Paris.Achmea IM – Karin Visser and Björn Straijer have started at Achmea Investment Management as portfolio manager for LDI & rates and portfolio manager for credits, respectively.Visser focuses on developing LDI strategies for pension funds as well as active management of LDI portfolios. Straijer has been mainly tasked with active management of covered bonds. Both Visser and Straijer joined from Kempen Capital Management, where Visser was portfolio manager LDI and Visser worked as trader fixed income & derivatives.Invesco – Jeff Taylor will retire as the asset manager’s head of European equities at the end of this year after almost 20 years in the role and 23 years at Invesco. John Surplice, his co-manager on the Invesco European Equity Fund, will take over from Taylor on 1 January 2021.In connection with this change, Invesco has hired James Rutland for the European equities team. He joined Invesco as a fund manager in early June after more than five years at Schroders.Federated Hermes – The $605.8bn asset manager has created a new role in response to “growing interest from clients and prospects in fixed-income solutions”, hiring Anna Karim from Bank of America Merrill Lynch (BAML) as investment director in its fixed income team in London.In the role, she will be a client-facing representative of Federated Hermes’ fixed income capabilities including public credit, structured credit, private debt, asset-based debt and multi-asset credit. She will be the primary contact for client coverage and marketing within these investment teams.Karim worked at BAML for 10 years, most recently as a managing director. Before to starting at BAML, she spent four years at Citi working in the credit sales team.Franklin Templeton – Dean Heaney has joined the US manager from Invesco as head of UK institutional. At Invesco he was head of government and strategic institutions responsible for sales to large asset owners in the UK and Ireland, with a focus on corporate defined benefit and contribution schemes and local government pension funds.Before that he was institutional sales director, UK, at Pioneer Investments (now Amundi) and previously held roles at Royal London Asset Management, Daiwa SB Investments Ltd and Fidelity International Ltd.Chronos Sustainability – Ian Woods, former head of AMP Capital’s sustainable investments team, is to provide specialist consultancy on climate change and responsible investment programmes to Chronos, a specialist sustainability advisory firm whose clients include the Transition Pathway Initiative and the Institutional Investors Group on Climate Change.The association with Woods is part of Chronos’ efforts and activity in Asia Pacific. Chronos describes him as an internationally recognised expert on climate change, and on ethical and responsible investment. He was a founder of the Australia/New Zealand Investor Group on Climate Change of which he was deputy chair until 2019.BNP Paribas – Global custodian BNP Paribas Securities Services has extended its organisation in the Netherlands with the appointment of John Gout as senior sales executive for institutional relations. Gout has more than 25 years of experience in the financial sector, gained at several international firms operating in the Dutch market.His past positions include director of electronic trading platform AFS Blue, managing director for J.P. Morgan, head of business development in the Benelux for ABN Amro Mellon Global Securities as well as a similar role at Northern Trust.BNP Paribas Asset Management has appointed Sophie Lugiez as head of the global trading function (GTF). Based in Paris, she reports to CIO Rob Gambi and joins BNPP AM’s investment leadership team and business committee.She took up her new role on 12 May, replacing Philippe Boulenguiez, who was appointed COO, and has been with the BNP Paribas Group since 1995.Looking for IPE’s latest magazine? Read the digital edition here.
The dining room has exposed timber beams.Off the loft is a balcony, which the couple use frequently to unwind.“We still go up and sit on that deck together with a glass of wine and look out on our courtyard, which is heavily planted with tropical trees,” Mr Harvey said. An abundance of windows in the bedroom keep it bright.Mr Harvey said his wife had migrated from Fiji when she was a teenager and the couple wanted to bring a bit of her home to the 415 Priestdale Rd property.“We wanted to build something Polynesian with a resort feel,” Mr Harvey said. There is an exposed brick fireplace in the winter lounge.Downstairs are four bedrooms, the master with an ensuite and not one, but two walk-in wardrobes.There also is a second bathroom, the reading room, and the winter lounge which has an exposed brick fireplace. The kitchen has timber benchtops and is in a different wing of the home.The kitchen is in a separate wing of the home, with the summer lounge, dining and living areas.Outside is the entertainment pavilion with a bar, laundry and another bathroom.The home also has a resort-style pool and tennis court, and is on a 1ha block. The bathroom has a tropical vibe.The house was so well designed, it won the 1983 Housing Industry Association House of the Year award.More from newsDigital inspection tool proves a property boon for REA website3 Apr 2020The Camira homestead where kids roamed free28 May 2019The home is sprawled across one level, with the exception of the loft, which is above the reading room.“The ceilings are western red cedar and are such a wonderful product that they look like they were just put in recently,” Mr Harvey said.“It’s also got Danish Velux windows which act as a skylight, but you can also set them to open up to let the air flow through.” The loft at 415 Priestdale Rd, Rochedale.WHEN Michael and Jane Harvey built their Rochedale home in 1982 they had Mrs Harvey’s island background in mind. The floorplan of 415 Priestdale Rd, Rochedale.Video Player is loading.Play VideoPlayNext playlist itemMuteCurrent Time 0:00/Duration 3:17Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -3:17 Playback Rate1xChaptersChaptersDescriptionsdescriptions off, selectedCaptionscaptions settings, opens captions settings dialogcaptions off, selectedQuality Levels576p576p480p480p256p256p228p228pAutoA, selectedAudio Tracken (Main), selectedFullscreenThis is a modal window.Beginning of dialog window. Escape will cancel and close the window.TextColorWhiteBlackRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentBackgroundColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentTransparentWindowColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyTransparentSemi-TransparentOpaqueFont Size50%75%100%125%150%175%200%300%400%Text Edge StyleNoneRaisedDepressedUniformDropshadowFont FamilyProportional Sans-SerifMonospace Sans-SerifProportional SerifMonospace SerifCasualScriptSmall CapsReset restore all settings to the default valuesDoneClose Modal DialogEnd of dialog window.This is a modal window. This modal can be closed by pressing the Escape key or activating the close button.Close Modal DialogThis is a modal window. This modal can be closed by pressing the Escape key or activating the close button.PlayMuteCurrent Time 0:00/Duration 0:00Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -0:00 Playback Rate1xFullscreenMichelle Hele’s May market wrap03:17
The home has a grand entry.Mr Chen said while the home was targeted to a Chinese buyer, it did attract buyers of all ethnicities. The master bedroom at 25 Newber St, Sunnybank.More from newsDigital inspection tool proves a property boon for REA website3 Apr 2020The Camira homestead where kids roamed free28 May 2019Place Sunnybank lead agent Owen Chen said the residence had been built by a Chinese developer who had purchased a block and subdivided it, building the home with a Chinese buyer in mind.“There’s a major difference between an overseas Chinese buyer and a local buyer and that’s the fact they are very focused on age,” Mr Chen said.“In China there’s no such thing as a 40-year-old home as they are all very new, so the developer wanted to create something suitable to that kind of buyer.” There is an open-plan kitchen and dining room.The agent said he was seeing a more balanced market in Sunnybank but believed there was a shortage of new homes for sale.“It’s not as crazy as it was before. Not many people are thinking about selling in winter but that’s good because you can then enjoy good buyer activity,” he said.Video Player is loading.Play VideoPlayNext playlist itemMuteCurrent Time 0:00/Duration 10:02Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -10:02 Playback Rate1xChaptersChaptersDescriptionsdescriptions off, selectedCaptionscaptions settings, opens captions settings dialogcaptions off, selectedQuality Levels720p720pHD432p432p270p270p180p180pAutoA, selectedAudio Tracken (Main), selectedFullscreenThis is a modal window.Beginning of dialog window. Escape will cancel and close the window.TextColorWhiteBlackRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentBackgroundColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentTransparentWindowColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyTransparentSemi-TransparentOpaqueFont Size50%75%100%125%150%175%200%300%400%Text Edge StyleNoneRaisedDepressedUniformDropshadowFont FamilyProportional Sans-SerifMonospace Sans-SerifProportional SerifMonospace SerifCasualScriptSmall CapsReset restore all settings to the default valuesDoneClose Modal DialogEnd of dialog window.This is a modal window. This modal can be closed by pressing the Escape key or activating the close button.Close Modal DialogThis is a modal window. This modal can be closed by pressing the Escape key or activating the close button.PlayMuteCurrent Time 0:00/Duration 0:00Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -0:00 Playback Rate1xFullscreenJune, 2018: Liz Tilley talks prestige property10:02 The home at 25 Newber St, Sunnybank, sold under the hammer for $1,530,000.A CHINESE buyer was the highest bidder at a Sunnybank auction, despite having only viewed the property for the first time that day.Eight registered bidders fought it out for the newly built 25 Newber St home, with the home selling to a Chinese family for $1,530,000.