Trustees of UK defined contribution (DC) schemes are unlikely to receive complete transaction cost information from their managers and providers in time for March 2018 year-end statements, according to a survey.Consultancy LCP surveyed 20 DC asset managers and five of the largest DC pension providers, and found that 56% of respondents were unlikely to be able to provide a full year of transaction costs in time for the information to be included in the next round of scheme statements.The situation would improve with time, LCP said, with over half of those surveyed indicating that they would be in a position to provide members with transaction costs for the whole year by the time required chair statements for the June year-end were due.In January regulation came into effect that, for the first time, required all asset managers to provide transaction costs in a standardised format to UK DC scheme trustees on request. The legislation was introduced by the Financial Conduct Authority (FCA) at short notice, and LCP noted that fund managers were experiencing initial problems in reporting as some data elements that were now required had not previously been monitored. In some cases managers had been forced to rebuild internal systems inside a year, LCP said.The consultancy said investment managers’ first priority was to provide transaction costs covering the first quarter of this year, and that prorating the costs would allow schemes to provide members with a proxy annual cost figure.“Longer term, the news is more positive,” said Laura Myers, LCP partner and head of DC, “with managers and providers seemingly confident that transaction cost information will be available and in a format that can be understood by all involved in running and saving into DC pensions”.“In light of the intentions of the FCA’s regulation in the first place, that appears to be a productive step forward,” she added.Illiquid assets, DGFs proving problematicHowever, the consultancy noted there could be a “major stumbling block” in providing DC scheme members with a comprehensive comparison of fund transaction costs.Almost half of survey respondents indicated envisaging problems in reporting transaction costs for some asset classes in a timely fashion, with illiquid asset classes such as property – and consequently some diversified growth funds (DGFs) – being the most problematic.Although the majority of DC savers are in default investment strategies, the requirement of managers to disclose transaction cost data also applies to asset classes traditionally offered as self-select options.The consultancy also noted that DGFs were a “fundamentally important asset class” for DC, and that it would be key for many schemes to have complete cost data for them.Any problems in providing transaction cost data for the broad range of illiquid assets, meanwhile, could affect their further adoption by DC schemes, LCP said.The consultancy’s survey found that four-fifths of providers have, or would shortly have, internal checks for reasonableness of transaction costs in place.“This is encouraging for trustees who rely on their providers as an aggregator and checker of this information,” said LCP.
What a view to wake up to. Source: Realestate.com.au Looking back to the home from the pool. Source: Realestate.com.auThe home has two living zones, with 15 foot ceilings, a farmhouse mudroom, drying room and laundry, a separate master wing, a guest wing, triple car garage, huge alfresco wing with built in barbecue and seating, and a huge shed to store caravans or horse floats. MORE: APRA lifts limit on interest-free mortgages Video Player is loading.Play VideoPlayNext playlist itemMuteCurrent Time 0:00/Duration 0:51Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -0:51 Playback Rate1xChaptersChaptersDescriptionsdescriptions off, selectedCaptionscaptions settings, opens captions settings dialogcaptions off, selectedQuality Levels720p720pHD576p576p432p432p270p270pAutoA, 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 Rate1xFullscreenStarting your hunt for a dream home00:51 Glass brings the outdoors in. Source: Realestate.com.au The perfect spot to be this summer. Source: Realestate.com.auMr Bowman told The Courier-Mail that the property went unconditional on Friday.More from newsParks and wildlife the new lust-haves post coronavirus15 hours agoNoosa’s best beachfront penthouse is about to hit the market15 hours ago“It’s a year old property,” he said. “We had it on the market for four weeks, got four offers through the tender process and it sold to a family who just want a beautiful home with a beautiful landscape.” The home makes the most of natural materials. Source: Realestate.com.au MORE: Home with side hustle of llamas, pizza yurt Called The Greenhouse, it was listed as a “modern interpretation of a farmhouse” loaded with natural materials including Rosewood stacker doors and barn doors, Ironbark flooring, slate and marble.The six acre property is in the vicinity of Samford Valley, just 21 kilometres northwest of Brisbane CBD — offering the ultimate blend of retreat and city home.The design incorporated environmentally friendly options including a chlorine free swimming pool with Enviroswim filter, drought tolerant native plantings by landscape designer Dan Young, solar power, four water tanks and dog proof fencing across the entire site. The house in Wights Mountain has four bedrooms, three bathrooms, six car parks on 2.69 hectares. Source: Realestate.com.auA Brisbane designer home that took out a national award last month has fetched a multimillion-dollar price just days before Christmas.The stunning Wights Mountain retreat was designed by renowned Brisbane architect Shaun Lockyer and saw builder VL Constructions take out this year’s Housing Industry Association national award just over a month ago ($1-2 million Custom Built Home category).Hamish Bowman of Ray White New Farm — who marketed the property with his principal Matt Lancashire — posted the $2.6 million sale this morning. FOLLOW SOPHIE FOSTER ON FACEBOOK The large alfresco wing. Source: Realestate.com.au
NewsRegional Montserrat police conducting internal investigation into misconduct allegations by: – January 18, 2012 Share Tweet 20 Views no discussions Sharing is caring! Flag of Monsterrat. Photo credit; flags.netBRADES, Montserrat (GIU) –The Royal Montserrat Police Service has been conducting an extensive internal investigation into allegations of police misconduct during and following the arrests of George Leonard and George Farrell on the morning of 17 December 2011. As a result of the investigation, one officer has been suspended from duty and another is on compulsory leave pending further investigation. The Governor has decided that, in addition to the very comprehensive internal investigation undertaken to date, he should activate the provisions of a co-operation agreement on reciprocal law enforcement assistance between the Caribbean Overseas Territories. This will enable law enforcement officers from the Bermuda and Cayman police services to come to Montserrat to assist in the on-going investigation under the command and direction of Deputy Commissioner Paul Morris and present their findings to the Director of Public Prosecutions through the Governor. The police officers should begin their work early next week.by Nerissa Golden Caribbean News Now Share Share
Ireland’s most famous amateur weatherman has said the country’s current cold snap could last until the end of February.Postman Michael GallagherCo Donegal postman Michael Gallagher warned in December that the country would be covered in snow for the start of the New Year.And although his prediction of a white Christmas never came to pass, he is convinced the sleet and snow is here to stay. Mr Gallagher, who uses the behaviour of plants and animals in the Bluestack Mountains to make his predictions, said all the indications are that we’re set to shiver for another six weeks.“I was a little out with the Christmas prediction but I knew it was only a matter of time before snow arrived early in the New Year.“All the classic signs were there that the temperatures were going to dip.“The trees were laden with berries for the birds and foxes were spotted coming into outhouses to shelter. “The plants and animals react to nature. Previous generations used all these signs so it’s nothing new,” he said.People across the North-West awoke today to another heavy fall of sleet and snow.Met Eireann are predicting the cold snap will last until next Wednesday but say they cannot forecast beyond that accurately.However, postman Michael added “That’s certainly not the end of the snow.“In fact, we’ll have more this weekend and next week. It may clear up a little but we’re going to have a series of cold snaps with plenty of snow right up until the end of February.” POSTMAN MICKEY CLAIMS COLD SNAP WILL LAST UNTIL END OF FEBRUARY was last modified: January 17th, 2015 by StephenShare this:Click to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Reddit (Opens in new window)Click to share on Pocket (Opens in new window)Click to share on Telegram (Opens in new window)Click to share on WhatsApp (Opens in new window)Click to share on Skype (Opens in new window)Click to print (Opens in new window)Tags:donegalMichael Gallagherpredictionsnow