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Our Advice ServicesWe offer a range of investment options to suit our members’ goals, time frames and preferred levels of risk and invest across a wide range of asset classes in Australia and overseas including shares, property, infrastructure, private equity, fixed interest and cash.
Each investment option across our product suite has set investment objectives and we review these objectives every year to ensure they meet members’ needs, looking at a range of factors including member demographics, the economic environment and how we expect different types of assets to perform.
As a result of the FY2025/26 annual review, we have made the following changes effective 29 June 2026:
Asset class changes
The existing ‘Alternatives’ asset class will be split into two asset classes named ‘Growth Opportunities’ and ‘Alternative Defensive’.
New Asset class descriptors:
- Growth Opportunities are investments in a range of growth orientated assets from different markets and securities, such as shares, credit and fixed interest, venture capital, currency and real assets. Derivative-based strategies may also be used to generate additional investment returns.
- Alternative Defensive are investments in a range of different markets and securities, such as credit and fixed interest, shares, venture capital, currency, insurance linked securities and real assets. This asset class is focused on income orientated investments and/or investments that provide diversification benefits. Investment returns are expected to have a lower sensitivity to share markets and interest rate risks.
Strategic Asset Allocation changes
For our Accumulation investment options, the following changes apply:
Growth (MySuper) investment option:
- Increase in the allocation to the ‘Global shares’ asset class from 28.0% to 28.5%
- Increase in the allocation to the ‘Emerging market shares’ asset class from 2.5% to 3.0%
- Reduction in the allocation to the ‘Australian shares’ asset class from 22.5% to 21.5%
The following table shows the strategic asset allocations and their ranges:
Growth (MySuper) investment option (Accumulation) |
Strategic asset allocation |
% |
Range % |
Australian shares |
21.5 |
5.0 - 38.0 |
|
Global shares |
28.5 |
7.0 - 39.0 |
|
Emerging market shares |
3.0 |
0.0 - 16.5 |
|
Private equity |
3.0 |
0.0 - 12.0 |
|
Growth opportunities |
1.5 |
0.0 - 13.0 |
|
Alternative defensive |
1.5 |
0.0 - 13.0 |
|
Infrastructure |
13.5 |
0.0 - 28.0 |
|
Property |
9.0 |
0.0 - 28.0 |
|
Global credit |
6.5 |
0.0 - 17.0 |
|
Australian fixed interest |
4.0 |
0.0 - 23.0 |
|
Global fixed interest |
4.0 |
0.0 - 23.0 |
|
Cash |
4.0 |
1.0 - 18.0 |
High Growth investment option:
- Increase in the allocation to the ‘Global shares’ asset class from 38.0% to 39.0%
- Increase in the allocation to the ‘Emerging market shares’ asset class from 3.5% to 4.0%
- Reduction in the allocation to the ‘Australian shares’ asset class from 30.5% to 29.0%
The following table shows the strategic asset allocations and their ranges:
High Growth investment option (Accumulation) |
Strategic asset allocation |
% |
Range % |
Australian shares |
29.0 |
15.0 - 48.5 |
|
Global shares |
39.0 |
17.0 - 50.0 |
|
Emerging market shares |
4.0 |
0.0 - 19.0 |
|
Private equity |
4.5 |
0.0 - 13.0 |
|
Growth opportunities |
4.0 |
0.0 - 17.0 |
|
Alternative defensive |
2.0 |
0.0 - 17.0 |
|
Infrastructure |
9.0 |
0.0 - 23.0 |
|
Property |
6.0 |
0.0 - 23.0 |
|
Global credit |
0.0 |
0.0 - 10.0 |
|
Australian fixed interest |
0.0 |
0.0 - 10.0 |
|
Global fixed interest |
0.0 |
0.0 - 10.0 |
|
Cash |
2.5 |
0.0 - 10.0 |
Growth Plus investment option:
- Increase in the allocation to the ‘Global shares’ asset class from 33.0% to 33.5%
- Increase in the allocation to the ‘Emerging market shares’ asset class from 3.0% to 3.5%
- Reduction in the allocation to the ‘Australian shares’ asset class from 26.5% to 25.5%
The following table shows the strategic asset allocations and their ranges:
Growth Plus investment option (Accumulation) |
Strategic asset allocation |
% |
Range % |
Australian shares |
25.5 |
10.0 - 45.0 |
|
Global shares |
33.5 |
10.0 - 45.0 |
|
Emerging market shares |
3.5 |
0.0 - 19.0 |
|
Private equity |
3.5 |
0.0 - 13.0 |
|
Growth opportunities |
3.0 |
0.0 - 13.0 |
|
Alternative defensive |
2.0 |
0.0 - 13.0 |
|
Infrastructure |
11.0 |
0.0 - 28.0 |
|
Property |
8.0 |
0.0 - 28.0 |
|
Global credit |
3.5 |
0.0 - 17.0 |
|
Australian fixed interest |
2.0 |
0.0 - 15.0 |
|
Global fixed interest |
2.0 |
0.0 - 15.0 |
|
Cash |
2.5 |
0.0 - 15.0 |
Index Diversified investment option:
- The range for the 'Global shares' asset class has reduced from 10.0 - 60.0 to 20.0 - 60.0
- Increase in the allocation to the ‘Global shares’ asset class from 43.0% to 44.0%
- Reduction in the allocation to the ‘Australian shares’ asset class from 32.0% to 31.0%
The following table shows the strategic asset allocations and their ranges:
Index Diversified investment option (Accumulation) |
Strategic asset allocation |
% |
Range % |
Australian shares |
31.0 |
15.0 - 55.0 |
|
Global shares |
44.0 |
20.0 - 60.0 |
|
Emerging market shares |
0.0 |
0.0 - 10.0 |
|
Australian fixed interest |
10.0 |
0.0 - 40.0 |
|
Global fixed interest |
10.0 |
0.0 - 40.0 |
|
Cash |
5.0 |
1.0 - 40.0 |
Conservative Growth investment option:
- Increase in the allocation to the ‘Global shares’ asset class from 19.0% to 19.5%
- Reduction in the allocation to the ‘Australian shares’ asset class from 15.5% to 15.0%
The following table shows the strategic asset allocations and their ranges:
Conservative Growth investment option (Accumulation) |
Strategic asset allocation |
% |
Range % |
Australian shares |
15.0 |
1.0 - 31.0 |
|
Global shares |
19.5 |
0.5 - 32.0 |
|
Emerging market shares |
2.0 |
0.0 - 14.0 |
|
Private equity |
0.0 |
0.0 - 10.0 |
|
Growth opportunities |
0.0 |
0.0 – 12.5 |
|
Alternative defensive |
2.5 |
0.0 – 12.5 |
|
Infrastructure |
10.5 |
0.0 - 25.0 |
|
Property |
7.0 |
0.0 - 25.0 |
|
Global credit |
8.0 |
0.0 - 18.0 |
|
Australian fixed interest |
9.0 |
0.0 - 48.0 |
|
Global fixed interest |
9.0 |
0.0 - 48.0 |
|
Enhanced income |
6.5 |
0.0 - 47.0 |
|
Cash |
11.0 |
0.0 - 47.0 |
Conservative investment option:
- Increase in the allocation to the ‘Global shares’ asset class from 9.0% to 9.5%
- Reduction in the allocation to the ‘Australian shares’ asset class from 7.0% to 6.5%
The following table shows the strategic asset allocations and their ranges:
Conservative investment option (Accumulation) |
Strategic asset allocation |
% |
Range % |
Australian shares |
6.5 |
0.0 - 18.0 |
|
Global shares |
9.5 |
0.0 - 18.5 |
|
Emerging market shares |
0.0 |
0.0 - 9.5 |
|
Private equity |
0.0 |
0.0 - 7.5 |
|
Growth opportunities |
0.0 |
0.0 - 9.5 |
|
Alternative defensive |
1.5 |
0.0 - 9.5 |
|
Infrastructure |
7.0 |
0.0 - 17.0 |
|
Property |
5.5 |
0.0 - 17.0 |
|
Global credit |
14.0 |
0.0 - 21.5 |
|
Australian fixed interest |
13.0 |
0.0 - 60.0 |
|
Global fixed interest |
13.0 |
0.0 - 60.0 |
|
Enhanced income |
8.5 |
0.0 - 59.0 |
|
Cash |
21.5 |
0.0 - 59.0 |
For our Transition to Retirement Super Income Stream (SIS) suite of investment options, the following changes apply:
Conservative Growth investment option:
- Increase in the allocation to the ‘Global shares’ asset class from 19.0% to 19.5%
- Reduction in the allocation to the ‘Australian shares’ asset class from 15.5% to 15.0%
The following table shows the strategic asset allocations and their ranges:
Conservative Growth investment option (TTR) |
Strategic asset allocation |
% |
Range % |
Australian shares |
15.0 |
1.0 - 31.0 |
|
Global shares |
19.5 |
0.5 - 32.0 |
|
Emerging market shares |
2.0 |
0.0 - 14.0 |
|
Private equity |
0.0 |
0.0 - 10.0 |
|
Growth opportunities |
0.0 |
0.0 - 12.5 |
|
Alternative defensive |
2.5 |
0.0 - 12.5 |
|
Infrastructure |
10.5 |
0.0 - 25.0 |
|
Property |
7.0 |
0.0 - 25.0 |
|
Global credit |
8.0 |
0.0 - 18.0 |
|
Australian fixed interest |
9.0 |
0.0 - 48.0 |
|
Global fixed interest |
9.0 |
0.0 - 48.0 |
|
Enhanced income |
6.5 |
0.0 - 47.0 |
|
Cash |
11.0 |
0.0 - 47.0 |
High Growth investment option:
- Increase in the allocation to the ‘Global shares’ asset class from 38.0% to 39.0%
- Increase in the allocation to the ‘Emerging market shares’ asset class from 3.5% to 4.0%
- Reduction in the allocation to the ‘Australian shares’ asset class from 30.5% to 29.0%
The following table shows the strategic asset allocations and their ranges:
High Growth investment option (TTR) |
Strategic asset allocation |
% |
Range % |
Australian shares |
29.0 |
15.0 - 48.5 |
|
Global shares |
39.0 |
17.0 - 50.0 |
|
Emerging market shares |
4.0 |
0.0 - 19.0 |
|
Private equity |
4.5 |
0.0 - 13.0 |
|
Growth opportunities |
4.0 |
0.0 - 17.0 |
|
Alternative defensive |
2.0 |
0.0 - 17.0 |
|
Infrastructure |
9.0 |
0.0 - 23.0 |
|
Property |
6.0 |
0.0 - 23.0 |
|
Global credit |
0.0 |
0.0 - 10.0 |
|
Australian fixed interest |
0.0 |
0.0 - 10.0 |
|
Global fixed interest |
0.0 |
0.0 - 10.0 |
|
Cash |
2.5 |
0.0 - 10.0 |
Growth Plus investment option:
- Increase in the allocation to the ‘Global shares’ asset class from 33.0% to 33.5%
- Increase in the allocation to the ‘Emerging market shares’ asset class from 3.0% to 3.5%
- Reduction in the allocation to the ‘Australian shares’ asset class from 26.5% to 25.5%
The following table shows the strategic asset allocations and their ranges:
Growth Plus investment option (TTR) |
Strategic asset allocation |
% |
Range % |
Australian shares |
25.5 |
10.0 - 45.0 |
|
Global shares |
33.5 |
10.0 - 45.0 |
|
Emerging market shares |
3.5 |
0.0 - 19.0 |
|
Private equity |
3.5 |
0.0 - 13.0 |
|
Growth opportunities |
3.0 |
0.0 - 13.0 |
|
Alternative defensive |
2.0 |
0.0 - 13.0 |
|
Infrastructure |
11.0 |
0.0 - 28.0 |
|
Property |
8.0 |
0.0 - 28.0 |
|
Global credit |
3.5 |
0.0 - 17.0 |
|
Australian fixed interest |
2.0 |
0.0 - 15.0 |
|
Global fixed interest |
2.0 |
0.0 - 15.0 |
|
Cash |
2.5 |
0.0 - 15.0 |
Growth investment option:
- Increase in the allocation to the ‘Global shares’ asset class from 28.0% to 28.5%
- Increase in the allocation to the ‘Emerging market shares’ asset class from 2.5% to 3.0%
- Reduction in the allocation to the ‘Australian shares’ asset class from 22.5% to 21.5%
The following table shows the strategic asset allocations and their ranges:
Growth investment option (TTR) |
Strategic asset allocation |
% |
Range % |
Australian shares |
21.5 |
5.0 - 38.0 |
|
Global shares |
28.5 |
7.0 - 39.0 |
|
Emerging market shares |
3.0 |
0.0 - 16.5 |
|
Private equity |
3.0 |
0.0 - 12.0 |
|
Growth opportunities |
1.5 |
0.0 - 13.0 |
|
Alternative defensive |
1.5 |
0.0 - 13.0 |
|
Infrastructure |
13.5 |
0.0 - 28.0 |
|
Property |
9.0 |
0.0 - 28.0 |
|
Global credit |
6.5 |
0.0 - 17.0 |
|
Australian fixed interest |
4.0 |
0.0 - 23.0 |
|
Global fixed interest |
4.0 |
0.0 - 23.0 |
|
Cash |
4.0 |
1.0 - 18.0 |
Index Diversified investment option:
- The range for the 'Global shares' asset class has decreased from 10.0 - 60.0 to 20.0 - 60.0
- Increase in the allocation to the ‘Global shares’ asset class from 43.0% to 44.0%
- Reduction in the allocation to the ‘Australian shares’ asset class from 32.0% to 31.0%
The following table shows the strategic asset allocations and their ranges:
Index Diversified investment option (TTR) |
Strategic asset allocation |
% |
Range % |
Australian shares |
31.0 |
15.0 - 55.0 |
|
Global shares |
44.0 |
20.0 - 60.0 |
|
Emerging market shares |
0.0 |
0.0 - 10.0 |
|
Australian fixed interest |
10.0 |
0.0 - 40.0 |
|
Global fixed interest |
10.0 |
0.0 - 40.0 |
|
Cash |
5.0 |
1.0 - 40.0 |
Conservative investment option:
- Increase in the allocation to the ‘Global shares’ asset class from 9.0% to 9.5%
- Reduction in the allocation to the ‘Australian shares’ asset class from 7.0% to 6.5%
The following table shows the strategic asset allocations and their ranges:
Conservative investment option (TTR) |
Strategic asset allocation |
% |
Range % |
Australian shares |
6.5 |
0.0 - 18.0 |
|
Global shares |
9.5 |
0.0 - 18.5 |
|
Emerging market shares |
0.0 |
0.0 - 9.5 |
|
Private equity |
0.0 |
0.0 - 7.5 |
|
Growth opportunities |
0.0 |
0.0 - 9.5 |
|
Alternative defensive |
1.5 |
0.0 - 9.5 |
|
Infrastructure |
7.0 |
0.0 - 17.0 |
|
Property |
5.5 |
0.0 - 17.0 |
|
Global credit |
14.0 |
0.0 - 21.5 |
|
Australian fixed interest |
13.0 |
0.0 - 60.0 |
|
Global fixed interest |
13.0 |
0.0 - 60.0 |
|
Enhanced income |
8.5 |
0.0 - 59.0 |
|
Cash |
21.5 |
0.0 - 59.0 |
For our Fully Retired SIS options, the following changes apply:
Conservative Growth investment option:
- Increase in the allocation to the ‘Global shares’ asset class from 17.0% to 17.5%
- Reduction in the allocation to the ‘Australian shares’ asset class from 18.0% to 17.5%
The following table shows the strategic asset allocations and their ranges:
Conservative Growth investment option (Fully Retired) |
Strategic asset allocation |
% |
Range % |
Australian shares |
17.5 |
1.0 - 31.0 |
|
Global shares |
17.5 |
0.5 - 32.0 |
|
Emerging market shares |
1.5 |
0.0 - 14.0 |
|
Private equity |
0.0 |
0.0 - 10.0 |
|
Growth opportunities |
0.0 |
0.0 - 12.5 |
|
Alternative defensive |
2.5 |
0.0 - 12.5 |
|
Infrastructure |
10.5 |
0.0 - 25.0 |
|
Property |
7.0 |
0.0 - 25.0 |
|
Global credit |
8.0 |
0.0 - 18.0 |
|
Australian fixed interest |
9.0 |
0.0 - 48.0 |
|
Global fixed interest |
9.0 |
0.0 - 48.0 |
|
Enhanced income |
6.5 |
0.0 - 47.0 |
|
Cash |
11.0 |
0.0 - 47.0 |
High Growth investment option:
- Increase in the allocation to the ‘Global shares’ asset class from 34.0% to 35.0%
- Increase in the allocation to the ‘Emerging market shares’ asset class from 3.0% to 3.5%
- Reduction in the allocation to the ‘Australian shares’ asset class from 35.0% to 33.5%
The following table shows the strategic asset allocations and their ranges:
High Growth investment option (Fully Retired) |
Strategic asset allocation |
% |
Range % |
Australian shares |
33.5 |
15.0 - 48.5 |
|
Global shares |
35.0 |
17.0 - 50.0 |
|
Emerging market shares |
3.5 |
0.0 - 19.0 |
|
Private equity |
4.5 |
0.0 - 13.0 |
|
Growth opportunities |
4.0 |
0.0 - 17.0 |
|
Alternative defensive |
2.0 |
0.0 - 17.0 |
|
Infrastructure |
9.0 |
0.0 - 23.0 |
|
Property |
6.0 |
0.0 - 23.0 |
|
Global credit |
0.0 |
0.0 - 10.0 |
|
Australian fixed interest |
0.0 |
0.0 - 10.0 |
|
Global fixed interest |
0.0 |
0.0 - 10.0 |
|
Cash |
2.5 |
0.0 - 10.0 |
The Growth Plus investment option:
- Increase in the allocation to the ‘Global shares’ asset class from 29.5% to 30.0%
- Increase in the allocation to the ‘Emerging market shares’ asset class from 2.5% to 3.0%
- Reduction in the allocation to the ‘Australian shares’ asset class from 30.5% to 29.5%
The following table shows the strategic asset allocations and their ranges:
Growth Plus investment option (Fully Retired) |
Strategic asset allocation |
% |
Range % |
Australian shares |
29.5 |
10.0 - 45.0 |
|
Global shares |
30.0 |
10.0 - 45.0 |
|
Emerging market shares |
3.0 |
0.0 - 19.0 |
|
Private equity |
3.5 |
0.0 - 13.0 |
|
Growth opportunities |
3.0 |
0.0 - 13.0 |
|
Alternative defensive |
2.0 |
0.0 - 13.0 |
|
Infrastructure |
11.0 |
0.0 - 28.0 |
|
Property |
8.0 |
0.0 - 28.0 |
|
Global credit |
3.5 |
0.0 - 17.0 |
|
Australian fixed interest |
2.0 |
0.0 - 15.0 |
|
Global fixed interest |
2.0 |
0.0 - 15.0 |
|
Cash |
2.5 |
0.0 - 15.0 |
The Growth investment option:
- Increase in the allocation to the ‘Global shares’ asset class from 25.0% to 25.5%
- Increase in the allocation to the ‘Emerging market shares’ asset class from 2.0% to 2.5%
- Reduction in the allocation to the ‘Australian shares’ asset class from 26.0% to 25.0%
The following table shows the strategic asset allocations and their ranges:
Growth investment option (Fully Retired) |
Strategic asset allocation |
% |
Range % |
Australian shares |
25.0 |
5.0 - 38.0 |
|
Global shares |
25.5 |
7.0 - 39.0 |
|
Emerging market shares |
2.5 |
0.0 - 16.5 |
|
Private equity |
3.0 |
0.0 - 12.0 |
|
Growth opportunities |
1.5 |
0.0 - 13.0 |
|
Alternative defensive |
1.5 |
0.0 - 13.0 |
|
Infrastructure |
13.5 |
0.0 - 28.0 |
|
Property |
9.0 |
0.0 - 28.0 |
|
Global credit |
6.5 |
0.0 - 17.0 |
|
Australian fixed interest |
4.0 |
0.0 - 23.0 |
|
Global fixed interest |
4.0 |
0.0 - 23.0 |
|
Cash |
4.0 |
1.0 - 18.0 |
Index Diversified investment option:
- The range for the 'Global shares' asset class has reduced from 10.0 - 60.0 to 20.0 - 60.0
- Increase in the allocation to the ‘Global shares’ asset class from 43.0% to 44.0%
- Reduction in the allocation to the ‘Australian shares’ asset class from 32.0% to 31.0%
The following table shows the strategic asset allocations and their ranges:
Index Diversified investment option (Fully Retired) |
Strategic asset allocation |
% |
Range % |
Australian shares |
31.0 |
15.0 - 55.0 |
|
Global shares |
44.0 |
20.0 - 60.0 |
|
Emerging market shares |
0.0 |
0.0 - 10.0 |
|
Australian fixed interest |
10.0 |
0.0 - 40.0 |
|
Global fixed interest |
10.0 |
0.0 - 40.0 |
|
Cash |
5.0 |
1.0 - 40.0 |
The Conservative investment option:
- Increase in the allocation to the ‘Global shares’ asset class from 8.0% to 8.5%
- Reduction in the allocation to the ‘Australian shares’ asset class from 8.0% to 7.5%
The following table shows the strategic asset allocations and their ranges:
Conservative investment option (Fully Retired) |
Strategic asset allocation |
% |
Range % |
Australian shares |
7.5 |
0.0 - 18.0 |
|
Global shares |
8.5 |
0.0 - 18.5 |
|
Emerging market shares |
0.0 |
0.0 - 9.5 |
|
Private equity |
0.0 |
0.0 - 7.5 |
|
Growth opportunities |
0.0 |
0.0 - 9.5 |
|
Alternative defensive |
1.5 |
0.0 - 9.5 |
|
Infrastructure |
7.0 |
0.0 - 17.0 |
|
Property |
5.5 |
0.0 - 17.0 |
|
Global credit |
14.0 |
0.0 - 21.5 |
|
Australian fixed interest |
13.0 |
0.0 - 60.0 |
|
Global fixed interest |
13.0 |
0.0 - 60.0 |
|
Enhanced income |
8.5 |
0.0 - 59.0 |
|
Cash |
21.5 |
0.0 - 59.0 |
For our Defined Benefit investment option, the following changes apply:
- Increase in the allocation to the ‘Global shares’ asset class from 22.5% to 23.0%
- Reduction in the allocation to the ‘Australian shares’ asset class from 16.5% to 16.0%
The following table shows the strategic asset allocations and their ranges:
Defined Benefit Investment option |
Strategic asset allocation |
% |
Range % |
Australian shares |
16.0 |
0.0 - 30.0 |
|
Global shares |
23.0 |
0.0 - 38.0 |
|
Infrastructure |
13.5 |
0.0 - 28.0 |
|
Property |
10.0 |
0.0 - 28.0 |
|
Global credit |
8.5 |
0.0 - 18.0 |
|
Australian fixed interest |
11.0 |
0.0 - 50.0 |
|
Global fixed interest |
11.0 |
0.0 - 50.0 |
|
Cash |
7.0 |
1.0 - 49.5 |
More information
If you have any questions about your account or your investments, please call our Advice team on 1300 361 784 at no additional cost to members.
United Super Pty Ltd ABN 46 006 261 623 AFSL 233792 as Trustee for the Construction and Building Unions Superannuation Fund ABN 75 493 363 262 (CBUS and/or CBUS Super).
This information is about CBUS. It doesn’t account for your specific needs. Please consider your financial position, objectives and requirements before making financial decisions. Read the relevant Product Disclosure Statement (PDS) and Target Market Determination to decide if CBUS is right for you. Call 1300 361 784 or visit cbussuper.com.au.