Strategic Asset Allocation changes

30 June 2025 Investment Changes

At Cbus, we offer a range of investment options to suit our members’ goals, time frames and preferred levels of risk. We 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 Accumulation, Transition to Retirement and Fully Retired has set investment objectives and we review these objectives every year to ensure they meet members’ needs. When we do this, we look at a range of factors including the age of our members, the economic environment and how we expect different types of assets to perform.

As a result of the FY2024/25 annual review, we have made the following changes effective 30 June 2025:

For our Accumulation suite of investment options, the following changes apply.

The Growth (MySuper) investment option:

Increase in the allocation to the ‘Global shares’ asset class from 27.5% to 28.0%
Increase in the allocation to the ‘Australian fixed interest’ asset class from 3.5% to 4.0%
Increase in the allocation to the ‘Global fixed interest’ asset class from 3.5% to 4.0%
Increase in the allocation to the ‘Cash’ asset class from 3.0% to 4.0%
Reduction in the allocation to the ‘Australian shares’ asset class from 23.5% to 22.5%
Reduction in the allocation to the ‘Global credit’ asset class from 7.0% to 6.5%
Reduction in the allocation to the ‘Property’ asset class from 10.0% to 9.0%

The following table shows the strategic asset allocations and their ranges:

Growth (MySuper) investment option (Accumulation)	Strategic asset allocation	%	Range %
	Australian shares	22.5	5.0-38.0
	Global shares	28.0	7.0-39.0
	Emerging market shares	2.5	0.0-16.5
	Private equity	3.0	0.0-12.0
	Alternatives	3.0	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 36.5% to 38.0%
Increase in the allocation to the ‘Cash’ asset class from 2.0% to 2.5%
Reduction in the allocation to the ‘Australian shares’ asset class from 31.5% to 30.5%
Reduction in the allocation to the ‘Property’ asset class from 7.0% to 6.0%

The following table shows the strategic asset allocations and their ranges:

High Growth investment option (Accumulation)	Strategic asset allocation	%	Range %
	Australian shares	30.5	15.0-48.5
	Global shares	38.0	17.0-50.0
	Emerging market shares	3.5	0.0-19.0
	Private equity	4.5	0.0-13.0
	Alternatives	6.0	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 32.0% to 33.0%
Increase in the allocation to the ‘Cash’ asset class from 2.0% to 2.5%
Reduction in the allocation to the ‘Australian shares’ asset class from 27.0% to 26.5%
Reduction in the allocation to the ‘Property’ asset class from 9.0% to 8.0%

The following table shows the strategic asset allocations and their ranges:

Growth Plus investment option (Accumulation)	Strategic asset allocation	%	Range %
	Australian shares	26.5	10.0-45.0
	Global shares	33.0	10.0-45.0
	Emerging market shares	3.0	0.0-19.0
	Private equity	3.5	0.0-13.0
	Alternatives	5.0	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 increased from 20.0 - 60.0 to 10.0 - 60.0

The following table shows the strategic asset allocations and their ranges:

Index Diversified investment option (Accumulation)	Strategic asset allocation	%	Range %
	Australian shares	32.0	15.0-55.0
	Global shares	43.0	10.0-60.0
	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 18.5% to 19.0%
Increase in the allocation to the ‘Australian fixed interest’ asset class from 8.0% to 9.0%
Increase in the allocation to the ‘Global fixed interest’ asset class from 8.0% to 9.0%
Increase in the allocation to the ‘Cash’ asset class from 10.5% to 11.0%
Reduction in the allocation to the ‘Property’ asset class from 8.0% to 7.0%
Reduction in the allocation to the ‘Enhanced income’ asset class from 8.5% to 6.5%

The following table shows the strategic asset allocations and their ranges:

Conservative Growth investment option (Accumulation)	Strategic asset allocation	%	Range %
	Australian shares	15.5	1.0-31.0
	Global shares	19.0	0.5-32.0
	Emerging market shares	2.0	0.0-14.0
	Private equity	0.0	0.0-10.0
	Alternatives	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 ‘Australian fixed interest’ asset class from 12.0% to 13.0%
Increase in the allocation to the ‘Global fixed interest’ asset class from 12.0% to 13.0%
Increase in the allocation to the ‘Cash’ asset class from 19.5% to 21.5%
Reduction in the allocation to the ‘Enhanced income’ asset class from 12.5% to 8.5%

The following table shows the strategic asset allocations and their ranges:

Conservative investment option (Accumulation)	Strategic asset allocation	%	Range %
	Australian shares	7.0	0.0-18.0
	Global shares	9.0	0.0-18.5
	Emerging market shares	0.0	0.0-9.5
	Private equity	0.0	0.0-7.5
	Alternatives	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 suite of investment options, the following changes apply.

Conservative Growth investment option:

Increase in the allocation to the ‘Global shares’ asset class from 18.5% to 19.0%
Increase in the allocation to the ‘Australian fixed interest’ asset class from 8.0% to 9.0%
Increase in the allocation to the ‘Global fixed interest’ asset class from 8.0% to 9.0%
Increase in the allocation to the ‘Cash’ asset class from 10.5% to 11.0%
Reduction in the allocation to the ‘Property’ asset class from 8.0% to 7.0%
Reduction in the allocation to the ‘Enhanced income’ asset class from 8.5% to 6.5%

The following table shows the strategic asset allocations and their ranges:

Conservative Growth investment option (TTR)	Strategic asset allocation	%	Range %
	Australian shares	15.5	1.0-31.0
	Global shares	19.0	0.5-32.0
	Emerging market shares	2.0	0.0-14.0
	Private equity	0.0	0.0-10.0
	Alternatives	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 36.5% to 38.0%
Increase in the allocation to the ‘Cash’ asset class from 2.0% to 2.5%
Reduction in the allocation to the ‘Australian shares’ asset class from 31.5% to 30.5%
Reduction in the allocation to the ‘Property’ asset class from 7.0% to 6.0%

The following table shows the strategic asset allocations and their ranges:

High Growth investment option (TTR)	Strategic asset allocation	%	Range %
	Australian shares	30.5	15.0-48.5
	Global shares	38.0	17.0-50.0
	Emerging market shares	3.5	0.0-19.0
	Private equity	4.5	0.0-13.0
	Alternatives	6.0	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 32.0% to 33.0%
Increase in the allocation to the ‘Cash’ asset class from 2.0% to 2.5%
Reduction in the allocation to the ‘Australian shares’ asset class from 27.0% to 26.5%
Reduction in the allocation to the ‘Property’ asset class from 9.0% to 8.0%

The following table shows the strategic asset allocations and their ranges:

Growth Plus investment option (TTR)	Strategic asset allocation	%	Range %
	Australian shares	26.5	10.0-45.0
	Global shares	33.0	10.0-45.0
	Emerging market shares	3.0	0.0-19.0
	Private equity	3.5	0.0-13.0
	Alternatives	5.0	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 27.5% to 28.0%
Increase in the allocation to the ‘Australian fixed interest’ asset class from 3.5% to 4.0%
Increase in the allocation to the ‘Global fixed interest’ asset class from 3.5% to 4.0%
Increase in the allocation to the ‘Cash’ asset class from 3.0% to 4.0%
Reduction in the allocation to the ‘Australian shares’ asset class from 23.5% to 22.5%
Reduction in the allocation to the ‘Global credit’ asset class from 7.0% to 6.5%
Reduction in the allocation to the ‘Property’ asset class from 10.0% to 9.0%

The following table shows the strategic asset allocations and their ranges:

Growth investment option (TTR)	Strategic asset allocation	%	Range %
	Australian shares	22.5	5.0-38.0
	Global shares	28.0	7.0-39.0
	Emerging market shares	2.5	0.0-16.5
	Private equity	3.0	0.0-12.0
	Alternatives	3.0	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 increased from 20.0 - 60.0 to 10.0 - 60.0

The following table shows the strategic asset allocations and their ranges:

Index Diversified investment option (TTR)	Strategic asset allocation	%	Range %
	Australian shares	32.0	15.0 - 55.0
	Global shares	43.0	10.0 - 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 ‘Australian fixed interest’ asset class from 12.0% to 13.0%
Increase in the allocation to the ‘Global fixed interest’ asset class from 12.0% to 13.0%
Increase in the allocation to the ‘Cash’ asset class from 19.5% to 21.5%
Reduction in the allocation to the ‘Enhanced income’ asset class from 12.5% to 8.5%

The following table shows the strategic asset allocations and their ranges:

Conservative investment option (TTR)	Strategic asset allocation	%	Range %
	Australian shares	7.0	0.0-18.0
	Global shares	9.0	0.0-18.5
	Emerging market shares	0.0	0.0-9.5
	Private equity	0.0	0.0-7.5
	Alternatives	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 Super Income Stream investment (SIS) options, the following changes apply.

Conservative Growth investment option:

Increase in the allocation to the ‘Global shares’ asset class from 16.5% to 17.0%
Increase in the allocation to the ‘Australian fixed interest’ asset class from 8.0% to 9.0%
Increase in the allocation to the ‘Global fixed interest’ asset class from 8.0% to 9.0%
Increase in the allocation to the ‘Cash’ asset class from 10.5% to 11.0%
Reduction in the allocation to the ‘Property’ asset class from 8.0% to 7.0%
Reduction in the allocation to the ‘Enhanced income’ asset class from 8.5% to 6.5%

The following table shows the strategic asset allocations and their ranges:

Conservative Growth investment option (SIS)	Strategic asset allocation	%	Range %
	Australian shares	18.0	1.0-31.0
	Global shares	17.0	0.5-32.0
	Emerging market shares	1.5	0.0-14.0
	Private equity	0.0	0.0-10.0
	Alternatives	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 33.5% to 34.0%
Increase in the allocation to the ‘Cash’ asset class from 2.0% to 2.5%
Reduction in the allocation to the ‘Property’ asset class from 7.0% to 6.0%

The following table shows the strategic asset allocations and their ranges:

High Growth investment option (SIS)	Strategic asset allocation	%	Range %
	Australian shares	35.0	15.0-48.5
	Global shares	34.0	17.0-50.0
	Emerging market shares	3.0	0.0-19.0
	Private equity	4.5	0.0-13.0
	Alternatives	6.0	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 29.0% to 29.5%
Increase in the allocation to the ‘Cash’ asset class from 2.0% to 2.5%
Reduction in the allocation to the ‘Property’ asset class from 9.0% to 8.0%

The following table shows the strategic asset allocations and their ranges:

Growth Plus investment option (SIS)	Strategic asset allocation	%	Range %
	Australian shares	30.5	10.0-45.0
	Global shares	29.5	10.0-45.0
	Emerging market shares	2.5	0.0-19.0
	Private equity	3.5	0.0-13.0
	Alternatives	5.0	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 ‘Australian fixed interest’ asset class from 3.5% to 4.0%
Increase in the allocation to the ‘Global fixed interest’ asset class from 3.5% to 4.0%
Increase in the allocation to the ‘Cash’ asset class from 3.0% to 4.0%
Reduction in the allocation to the ‘Australian shares’ asset class from 26.5% to 26.0%
Reduction in the allocation to the ‘Property’ asset class from 10.0% to 9.0%
Reduction in the allocation to the ‘Global credit’ asset class from 7.0% to 6.5%

The following table shows the strategic asset allocations and their ranges:

Growth investment option (SIS)	Strategic asset allocation	%	Range %
	Australian shares	26.0	5.0-38.0
	Global shares	25.0	7.0-39.0
	Emerging market shares	2.0	0.0-16.5
	Private equity	3.0	0.0-12.0
	Alternatives	3.0	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 increased from 20.0 - 60.0 to 10.0 - 60.0

The following table shows the strategic asset allocations and their ranges:

Index Diversified investment option (SIS)	Strategic asset allocation	%	Range %
	Australian shares	32.0	15.0-55.0
	Global shares	43.0	10.0-60.0
	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 7.5% to 8.0%
Increase in the allocation to the ‘Australian fixed interest’ asset class from 12.0% to 13.0%
Increase in the allocation to the ‘Global fixed interest’ asset class from 12.0% to 13.0%
Increase in the allocation to the ‘Cash’ asset class from 19.5% to 21.5%
Reduction in the allocation to the ‘Australian shares’ asset class from 8.5% to 8.0%
Reduction in the allocation to the ‘Enhanced income’ asset class from 12.5% to 8.5%

The following table shows the strategic asset allocations and their ranges:

Conservative investment option (SIS)	Strategic asset allocation	%	Range %
	Australian shares	8.0	0.0-18.0
	Global shares	8.0	0.0-18.5
	Emerging market shares	0.0	0.0-9.5
	Private equity	0.0	0.0-7.5
	Alternatives	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 equities’ asset class from 22.0% to 22.5%
Increase in the allocation to the ‘Cash’ asset class from 6.5% to 7.0%
Reduction in the allocation to the ‘Property’ asset class from 11.0% to 10.0%

The following table shows the strategic asset allocations and their ranges:

Defined Benefit Investment option	Strategic asset allocation	%	Range %
	Australian shares	16.5	0.0-30.0
	Global shares	22.5	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 Services team on 1300 361 784 and we will assist you at no additional cost.

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 Super. 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 Super is right for you. Call 1300 361 784 or visit cbussuper.com.au.