Vogt emphasised that occupational pension provision still was important for Munich Re – it set up Germany’s first company pension scheme in 1891.“But the board decided that not all the risks had to be hedged as full guarantees cost too much money,” he said. German reinsurance company Munich Re has introduced a new pension plan “similar to a defined ambition” scheme, according to its head of pensions.Speaking at this year’s occupational pension conference organised by the German financial newspaper Handelsblatt, Werner Vogt, head of rewards and pensions, said all the company’s old pension plans closed to new entrants from 1 January.The new plan “increases flexibility and the chances of higher returns on the capital markets”, Vogt said.The company’s board had decided to introduce an “index-based occupational pension solution” last year in a bid to reduce the pension liability risk. At the end of 2018 Munich Re reported almost €6bn of defined benefit obligations in its annual report, partially offset by €3.3bn in plan assets. Markus Bechtoldt, H2B Aktuare, addresses the Handelsblatt conferenceMarkus Bechtoldt, managing director at H2B Aktuare, was the consultant on the pension plan makeover.“We set up a plan similar to a defined ambition solution in which 90% of the contributions made are guaranteed,” Bechtoldt explained.An increase to 95% was considered but “that would have increased costs considerably”, Bechtoldt said, while lowering the guarantee to 85% “would not have saved a lot of money”.The pension can be paid out as a lump-sum or in instalments. Monthly pension payouts are offered as an option for those retiring no earlier than the statutory retirement age.At the conference in Berlin, Carsten Velten, head of pensions at Telekom, who moderated the panel, warned that a 90% guarantee could be challenged in court, as up until now all German occupational pension plans have had to guarantee at least the contribution level.This can only change once employer and employee representatives within a major company or an industry agree on a new pension plan under the Betriebsrentenstärkungsgesetz (BRSG) legislation. In these plans guarantees are forbidden.However, Munich Re said it was convinced its pension provision would hold up in court as the legal framework allowed for costs to be deducted from the guarantees.The company has offered various risk portfolios for employees to choose from, which are also set up as a lifecycle solution with asset allocations changing with age.Every three years gains from the investment returns are locked-in and the 90% guarantee is extended to these gains. This lock-in is not applied if the asset value has fallen below the last guaranteed sum over the previous three years.“This safety net makes it attractive for employees in all situations of life,” Vogt said.The assets are invested in equities “oriented at the MSCI World index” as well as four “alternative risk premiums” based on carry and momentum, according to the reinsurer.“It is a completely rule-based investment strategy,” added Bechtoldt.To minimise its hedging costs, Munich Re has combined the new pension plan with index-based reinsurance.
Opinions on IORP II implementation that were released by EIOPA this week have refuelled fears among the European pension industry that pension funds could yet end up facing prudential requirements.The opinions are documents to help national pension supervisors in the implementation of the EU occupational pension funds directive, which set several new minimum standards for occupational pension funds, including new rules for governance and risk assessment.Commenting on the opinions, PensionsEurope said that although they were not binding, EIOPA “puts pressure on national supervisors by providing detailed guidance, monitoring, and following up on implementation”.“We fear that this will lead to supervisory authorities following the opinions, even when this would not be adequate for their national contexts,” the European association said. Janwillem Bouma, chair of PensionsEurope“The common framework was rejected in the debate on IORP II and should not be introduced through the back door, leading to unnecessary cost at the expense of pension fund members,” said Janwillem Bouma, chair of PensionsEurope.“PensionsEurope does not see any benefit from EIOPA continuing to work on the common framework and is completely against its application in this or any other context”.One of the opinions published by EIOPA yesterday – there are four – is “on the practical implementation of the common framework for risk assessment and transparency for IORPs”.According to EIOPA, it encourages national supervisors “to make IORPs aware of the availability of the common framework as a tool for risk assessment and to stand ready to support pension funds in the application of the tool”. Upon the release of the opinions, Gabriel Bernardino, chairman of EIOPA, said: “The IORP II Directive has profound implications for the governance and risk management of occupational pension funds in Europe.“In this context, the EIOPA opinions lay the foundation for the future supervisory convergence of pension funds’ own-risk assessment to ensure sound risk management for the better protection of members and beneficiaries and alignment with society’s sustainability goals.”EIOPA has previously sought to reassure that it was not intent on introducing solvency funding requirements for pension funds. Inappropriate one-size-fits all approachEIOPA’s other three opinions are about the use of governance and risk assessment documents in the supervision of IORPs, the supervision of the management of operational risks faced by pension funds, and the supervision of the management of environmental, social and corporate governance (ESG) risks faced by IORPs. It made specific critical remarks about the opinion on the latter (see separate article).At a general level, PensionsEurope said the opinions do not recognise the minimum harmonisation of the IORP II directive, which gives national governments considerable leeway as to how to embed the new rules in domestic legislation and does not include any delegated acts.Bouma said: “EIOPA should keep in mind that the IORP landscape is very diverse and national supervisors need latitude to implement the directive in their domestic context.“The IORP II Directive is clear in this regard: it is not appropriate to adopt a ‘one-size-fits-all’ approach to IORPs. While appropriate supervision is key for secure occupational retirement provision, we believe that national supervisory authorities are best placed to decide on the appropriate risk-management framework.”Approached for comment, a spokesperson for EIOPA referred to Bernardino’s comments, adding that “EIOPA continuously engages in dialogue with all its stakeholders also with PensionsEurope, [which is] also represented in EIOPA’s Occupational Pensions Stakeholder Group.”EIOPA considered and took into account feedback in various forms, the spokesperson continued, but ultimate decisions were taken independently by EIOPA’s board of supervisors, which in this case unanimously adopted all four of EIOPA’s opinions.In the opinions EIOPA states that national supervisors “may take into account the national specificities of the IORP sector to determine the requirements necessary for implementing this opinion considering a risk-based and proportionate approach”.EIOPA’s opinion on the common framework states that national supervisors and IORPs may use its principles and technical specifications on a voluntary basis.This article was updated to add references from the opinions themselves and comments from the EIOPA spokesperson “The result would be that prudential requirements that were discarded as inappropriate during the discussions on IORP II would be introduced through the back door.”Many in the European pensions industry were relieved when controversial proposals for a holistic balance sheet framework were dropped during negotiations on the new IORP II directive a few years ago, but concerns arose that solvency capital requirements for pension funds could yet still see the light of day after EIOPA proposed the introduction of a harmonised risk assessment for occupational pension funds, known as ‘the common framework’.
In the cabinet minutes, the government said the ordinance – which dates to June – completed the transposition of IORP II, in particular by covering the new requirements introduced by the directive relating to information for members, cross-border transfers, and the consideration of environmental, social and corporate governance factors as part of investment activity. Bruno le MaireThe government also said the scope of commitments that the new pension vehicles could take on had been extended to retirement savings plans for individuals and optional membership plans.This, according to the government, meant that these vehicles could now cover any type of retirement savings plan.“The insurance sector is expected to mobilise so that the use of these vehicles is widespread and the French economy can thus fully benefit from the dynamism of retirement savings generated by the PACTE law,” the meeting minutes stated.Three FRPS vehicles have been licensed in France so far: Sacra, a pension fund for the insurance sector, Aviva Retraite Professionnelle, and MM Retraite Professionnelle. Work on further such vehicles is said to be under way, but it is too early to say whether the new pensions vehicle will take off. ‘Surprise’ Macron statement Separately, president Emmanuel Macron is reported as having apparently backed away from the idea of a fixed pensions age following comments in a TV interview last week.The government’s spokesperson told journalists Macron had merely expressed a preference for pensions based on the duration of contributions and that this did not mean the idea of the “âge pivot” had been buried.The retirement age in France is currently 62, but in July Jean-Paul Develoye, the government-appointed high commissioner for pension reform, recommended that individuals would be entitled to their “full” pension at 64.Talks with trade unions on the pension reform are due to start this week.According to media reports today, Delevoye is being drafted into the government.Further readingTop 1000: France – Act I of the pensions big bang? The PACTE law paves the way for the creation of new funded workplace and personal retirement savings vehicles from October, but there are questions about the future of reserves constituted by some of the schemes in the mandatory pay-as-you-go system, given reform plans Bruno Le Maire, the French finance minister, has introduced a bill to ratify an ordinance transposing the new EU pension fund directive IORP II.The ordinance – a type of statutory instrument that is fairly common in France – was provided for by the PACTE law, a wide-ranging reform aimed at encouraging entrepreneurship and facilitating the growth of businesses.Minutes from a cabinet meeting held last week reported that the IORP II directive was for the most part anticipated in France by the adoption of rules in 2017 that paved the way for a new type of pension fund vehicle.The best known version of these, the fonds de retraite professionelle supplémentaire (FRPS), was designed to allow insurance-based pension providers to transfer pension business and thereby escape certain Solvency II rules.
These sit alongside themed categories, country and regional prizes, and European-level awards. To enterTo start your entry now, please visitipe.com/entriesAlternatively, visit the entry section of the IPE Awards site or contact Robert Melia Watson at firstname.lastname@example.org or +44 (0)20 3465 9327.Last year saw PensionDanmark secure the highly prized European Pension of the Year award for the second year running and fourth time overall, while chief executive Torben Möger Pedersen took the Outstanding Industry Contribution title for his tireless commitment to the evolution of Europe’s pensions sector.This year’s Awards presentation and dinner will take place on 3 December at Tivoli Congress Center in Copenhagen, Denmark, as part of IPE’s annual conference. Source: Tivoli Congress CenterTivoli Congress Center, Copenhagen There is still time to enter this year’s IPE Awards – but hurry, as judging is set to begin at the end of September.The 44 categories in this year’s awards reflect the diverse investment strategies and structures that Europe’s pension funds implement as they strive for excellence and innovation. The aim of the awards is to create a unique, annual, peer-led benchmark to enable pension funds to measure their performance and exchange ideas.Commodities has returned to the list of categories, which also includes awards for best strategies in ESG, fixed income, equities, infrastructure, portfolio construction, active and passive management, and alternatives.
The tool will use anonymised data from completed member options exercises and pension schemes’ own data from more than 20,000 member transactions, which, through a machine learning algorithm, will determine the probability of a member accepting a tailored offer.This new data-driven approach will help DB schemes and sponsors to better manage risk through planning member options projects that have optimum member offer structures, it added.The tool has already identified several factors impacting a member’s decision on whether to transfer out of their DB scheme. Age is a key factor, with those members older than 55 on average 18-20% more likely to accept an offer than younger members.Mercer said that place of residence also plays a determining part, with overseas members 10% more likely to accept a transfer value than those based in the UK.“This information will help schemes create offers that are tailored to the scheme’s specific characteristics, ensuring that members are presented with a range of pension options to consider,” Ward said.He added: “It is important that members also seek financial advice to ensure they are able to make an informed choice that will meet their retirement needs.”In a 2020 outlook report Mercer says that technology and artificial intelligence are increasingly changing investment processes, alpha generation, and product design and distribution. Investment consultancy Mercer has launched an artificial intelligence (AI) powered tool to assist defined benefits (DB) pension schemes predict the outcome of a member options exercise.Andrew Ward, partner and head of risk transfer at Mercer, said: “Since the introduction of Pensions Freedom and Choice over four years ago, transfer options have played an increasingly important role in pension schemes’ risk management.”He said that with gilt yields at historic lows, members are likely to be “taking higher transfer values against the backdrop of uncertainty caused by Brexit”.He noted, however, that “while market conditions can influence take-up, the decision to transfer is more likely to be driven by personal circumstances.”
The joint investigation by the five largest Dutch pension funds into co-operation on pensions provision is focusing on costs reduction, said Gerard van Olphen, chief executive of APG, the provider and asset manager for pension funds ABP and BpfBouw.Speaking to IPE, he said that the five players – representing €833bn of assets and 8.7m workers and pensioners – wanted to achieve this goal through increased efficiency and scale as well as by setting standards that could be applied by the entire sector.The investigation – revealed in APG’s annual report for 2019 – would, for example, look into the options of setting standards for collecting pension contributions as well as paying benefits, said Van Olphen, who cited banks and insurers as examples.“The five schemes also want to establish the impact of co-operation on their current exemption from paying VAT,” he added. According to Van Olphen, co-operation could lead to a single organisation for administration being set up. Gerard van Olphen, chief executive of APG“However, if it turns out that joining forces will generate insufficient added value, co-operation doesn’t make sense,” he emphasised.APG’s CEO said that the five pension funds, which also include healthcare pension fund PFZW and the metal sector schemes PMT and PME, expected to assess proposals within a few months.PFZW has PGGM as its provider, while the metal schemes share MN for their pensions administration.New clients welcomeSeparately, Van Olphen further said that APG would like to welcome new pension fund clients, for administration and/or asset management in order to increase scale and reduce costs.“However, they must have sufficient scale, add value and not have complicated pension arrangements,” he said. “And although we can offer any mix of services, new clients can’t pick and choose certain parts of it.”Van Olphen made clear that APG would prioritise taking in pension funds in sectors related to its current clients. He said that almost 10 pension funds had already contacted APG. “Some are seeking a new provider, others want a costs reduction or a change of pension arrangements,” he said That said, APG’s CEO highlighted that, given the current COVID-19 situation, potential clients were very careful and likely to avoid commitments at the moment. Last year, APG sold its income insurance subsidiary Loyalis to insurer ASR in a drive to focus on its core task of pensions.It said it had simplified its pensions administration as a result of 40,000 military staff at ABP switching from final salary arrangements to an average salary plan.Overall returns of 17.3% APG said it returned 17.3% on investment for its eight pension fund clients last year, an underperformance of 151 basis points. It largely attributed this to disappointing results from smart beta and liquid investments. It added that investments had underperformed for the first time in 10 years, and that the benchmark had been exceeded by 56 bps in the past 5 years. APG further said that it had extended its co-operation with Chinese investment management firm E Fund Management by also starting to invest in Chinese credit. It had already taken stakes in A-shares.The annual report also revealed that, in order to increase the impact of engagement with companies on responsible investment, APG had set up an “inclusion board” – comprising its various investment teams – to streamline investment decisions. Staff and variable pay increasesAPG has been recruiting more staff for its asset management operations, with around half of the targeted 100 individuals earmarked for its Hong Kong and New York offices. A spokesperson said that the provider was about halfway through the hiring. Last year, the asset manager employed 835 workers, 191 of whom were located abroad. In its annual report, APG said that to boost its net results it wanted to increase (direct) investments in infrastructure, and extend its co-operation with international partners, including the Guangzhou-based asset manager E Fund Management.Ronald Wuijster, head of asset management, said that the overseas offices provided access to markets with attractive returns. More staff were required because of the planned extension of investments in real estate as well as infrastructure, “more labour intensive asset classes with better perspectives for long term returns”, he said.On the pension fund’s website Wuijster defended the rise of variable pay – from €31.1m to €40.4m – for its asset managers despite last year’s underperformance.He pointed out that the bonus criteria were aimed at performance over a five-year period, and that half of the variable pay was based on “non-financial” achievements, such as individual and team development. The CIO added that the increased number of staff in Hong Kong and New York, “where performance has been above average”, had contributed to the pay rise.
Sixty-one companies increased their payouts. In total Q2 dividends fell to £16.1bn (€17.5bn), almost £22bn less than the second quarter of 2019 on a headline basis.Excluding special dividends, which were exceptionally high this time last year, the decline is from £32.1bn to £16bn.According to Link this was the lowest second-quarter total since 2010, and the decline by far the biggest ever recorded.“The second quarter was truly a record breaker,” said Susan Ring, chief executive officer, corporate markets at Link Group. “Not by a whisker, nor by a nose, but by a mile. The whole of 2020 will, without doubt, see the biggest hit to dividends in generations.”Margot von Aesch, partner and lead on income research at research and execution firm Redburn, said Link Group’s analysis “illustrates clearly that the shareholder return destruction caused by the pandemic has been of historic proportions, leaving only a handful of companies untouched”.Of the £16.4bn of cuts in underlying dividends in the second quarter, half of the impact came from the financial sector after the Bank of England instructed banks to cancel all shareholder payouts for 2020 and leaned heavily on insurance companies to follow suit, with most bowing to the pressure.Link Group’s best-case scenario for 2020 is for dividends to fall 39% to £60.5bn on an underlying basis, down from £98.5bn. Its worst case scenario sees a fall of 43% to £56.3bn on an underlying basis.Commentators have observed that companies cutting dividends did so to protect balance sheets, with Ben Lofthouse, fund manager of Henderson International Income Trust, saying that the decline in dividends looked set to be similar to or worse than the decline in profits.“Notably, UK profits lagged behind the rest of the world, given the heavy weighting of oil companies on the UK market,” he said. “Naturally nobody wants to see their dividends get cut, but if it’s in the interests of protecting a company in such unusual times then it’s the right thing to do, allowing them to emerge stronger.”The UK pensions regulator reacted to the COVID-19-triggered economic shutdown by telling trustees that any reduction or suspension of deficit repair contributions would need to be accompanied by suspension of dividends and other forms of shareholder return.Last month it said around 10% of defined benefit schemes had sought to defer deficit contributions, with discussions ongoing for others.To read the digital edition of IPE’s latest magazine click here. The coronavirus pandemic triggered unprecedented cuts in dividends from UK companies in the second quarter of this year, with payouts down 57.2%, and 50.2% if special dividends are excluded.Thirty companies cut dividends and 176 cancelled their dividends completely, together making up three quarters of all the UK companies that usually pay in the second quarter, according to new research from financial administrators Link Group.Included in that batch was Royal Dutch Shell, which cut its dividend by two-thirds, the first reduction it had made since the Second World War.In the aftermath of the global financial crisis, the worst quarter – Q1 2009 – saw two-fifths of companies cut their dividends, and one-fifth cancelling them altogether, said Link Group.
The Huntington display home by Ellis Developments at Haven.A HOUSE inspired by a Bali holiday will be one of two display homes officially opened to the public at Haven today.Doors will open at 10am at the estate by Ellis Developments at 3 Castleview Lane, Garbutt, and there will be a sausage sizzle, music, giveaways, financial advice and an art project to entertain the kids.The Bali-inspired Huntington display home will be open for inspection and has three bedrooms, two bathrooms, a two-car garage, three outdoor living spaces and a swimming pool.The home was designed by interior designer Pam Ellis who said Bali helped to inspire the look and feel of the home.The Huntington display home by Ellis Developments at Haven.“I used muted tones to bring the sand and sea into the home,” she said.“For example, the internal doors are muted blue, the walls are sand coloured, and the front door is a dose of sunshine.More from news01:21Buyer demand explodes in Townsville’s 2019 flood-affected suburbs12 Sep 202001:21‘Giant surge’ in new home sales lifts Townsville property market10 Sep 2020“Following the Bali holiday theme, I used very neutral colours, with lots of texture. The coffee table was the hero piece for the living room, and everything else compliments that relaxed vibe.”Following feedback from clients that many display homes in Townsville are not affordable for the average buyer, Ellis Developments decided to build a display home that demonstrated a boutique home for under $400,000.The Tivoli Tre will also be opened to the public for the first time today. The home is unique and designed to suit the lot it sits on.It has three bedrooms, two bathrooms, a single-car garage and an additional secured parking space.It has raked ceilings over 3m high with windows showcasing views of Castle Hill. The quadruple stacked sliding doors open up to blend the indoor and outdoor living areas, while the large outdoor patio captures the easterly breezes.The Tivoli Tre display home by Ellis Developments at Haven.Haven new home consultant Tammy Baczynski said the home would appeal to budget-conscious young buyers who want to live close to the CBD.“We kept meeting younger clients with the same requests,” she said. “They were interested in a new build to lock in the First Home Buyers Grant but also wanted to stay close to the CBD while staying in the $350,000-$400,000 price range.“A few years ago, these same types of clients would be driven to buy an apartment in town.”
The vendor spends most of the year outside, by the pool.“Some of my best memories are times spent round the pool in summer,” Mr Dean said. “You can spend nine months of the year enjoying the indoor-outdoor lifestyle.” One of the home’s mutiple living rooms, ideal for big families.Mr Dean’s “larger family” comprises four children, with the youngest just 10 months old, and he said the house was now the perfect size and layout to accommodate everyone.“The house works well for a larger family, whether the children are younger or older.” More from newsFor under $10m you can buy a luxurious home with a two-lane bowling alley5 Apr 2017Military and railway history come together on bush block24 Apr 2019It has five bedrooms plus a nursery, with an emphasis on outdoor living that includes an outdoor kitchen. The home at 255 Moray St, New Farm, is for sale.WHEN Phoebe and Joseph Dean bought their New Farm property just a little over a year ago, they could see it was a house with the potential to be a city oasis for their growing family. The kitchen at 255 Moray St, New Farm.They engaged the services of architect Shane Marsh and set about tailoring the property to suit their needs.“It was a Queenslander that had previously been renovated in 2009,” Mr Dean explained. “It was in need of a little repurposing and reconfiguring to suit the larger family.” There is an outdoor kitchen overlooking to pool.The three-level home has most of its living spaces spread across the middle level, with an open-plan living, kitchen and dining room opening out to the back deck and the property is on a 524sq m block. Indoors flows seamlessly to outdoor living.Protected by mature trees, and with no overlooking neighbours, Mr Dean said the property had a private feel that retains the charm of a Queenslander yet features all best of contemporary living. The master bedroom at 255 Moray St, New Farm.“We were very pleased with what Shane came up with,” he said.After completing such a fulfilling project, the family is set to embark on the building process all over again, having purchased another large block in New Farm. This is the walk-in robe of our dreams.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
Cracking views over Main Beach from M3565.Earlier this month, Mr Hudson sold his beachfront Palm Beach apartment for $2.525 million. Beach views on offer from PACIFIC 602-2 Twenty Third Ave, Palm Beach.And now he has his Sanctuary Cove riverfront retreat on the market with an asking price of $3.25 million. Harcourts Coastal agent Katrina Walsh is handling the sale.He purchased 7394 Marine Drive East from celebrity real estate agent and TV host Andrew Winter and his wife Caroline last November for $3.05 million. The riverfront home has a peaceful outlook.“It’s just such a peaceful home,” Mr Hudson said. “It looks dead north over to the mangroves, which is just gorgeous.“I’m sitting out the back right now and it’s just got this very calming energy to it.” After four months soaking up the solitude at Sanctuary Cove, Mr Hudson said he was selling to be closer to the beach.“I’ve been living on the beach since I returned from the US in 2015 and have bought a place in Main Beach,” he said.“We’re just simplifying life a bit, it’s all been a bit nuts!” The resort-style pool adds ambience.MORE NEWS: Versace-inspired mansion for sale Pull up at the private pontoon after a day on the water.More from news02:37International architect Desmond Brooks selling luxury beach villa8 hours ago02:37Gold Coast property: Sovereign Islands mega mansion hits market with $16m price tag1 day agoThe downtime is well-deserved for Mr Hudson who was running an animation company in Hollywood in 2001-2015 when he started selling products on Amazon as a side hustle in 2012. He now teaches more than 10,000 students around the world how to earn a reliable income on Amazon and has a strong online following.“I’m YouTube famous apparently,” Mr Hudson said, laughing. “I get stopped almost every time I go outside the house these days.” A life of leisure awaits at 7394 Marine Drive, Sanctuary Cove.Life has been a bit nuts of late for Amazon entrepreneur Adam Hudson.On top of a hectic work schedule, the online educator has had a busy couple of months getting his property portfolio in order.In January Mr Hudson secured a beachfront apartment inside Katie Page’s M3565 boutique apartment building at Main Beach. Gold Coast’s Top 3 relocation hot spots Property pro Andrew Winter left his mark on 7394 Marine Drive, Sanctuary Cove.The Winters, who purchased the then Tuscan-style abode in 2017, spent a year transforming it into a modern masterpiece full of high-end finishes and a colour palette that oozes effortless sophistication.The home, which is secluded on a 942sq m block inside the exclusive Sanctuary Cove Resort, has proven the perfect place for Mr Hudson to retreat and relax.