Cbus announces appointment of Stephen Dunne to Board and Chair of Investment Committee
18 November 2015
Stephen Dunne, outgoing AMP Capital Chief Executive, will join Cbus Super’s Board of Trustee Directors and assume the position of Chair of the Fund’s $31 billion Investment Committee.
Mr. Dunne will bring enormous expertise to the Cbus Board and Investment Committee, having gained more than 25 years’ experience in investment management in Australia and the UK and served as AMP Capital CEO for more than a decade.
Cbus Chair, The Hon. Steve Bracks AC, said that the Fund was delighted that Mr. Dunne had chosen to apply his considerable experience for the benefit of Cbus members.
“Cbus has enjoyed a strong 30 year history, providing average annual net returns of 9.28% to members*. And we are a growing Fund having surpassed $30 billion FUM and expecting to move to $50 billion in a few short years” said Mr. Bracks
“That money needs to find an investment home in volatile global markets and continue to provide net benefit outcomes to members both through returns and reducing costs. To achieve this we are increasing the size and capability of the Trustee Office investment team.
“That also requires that we increase the Board and Committee depth of experience and skills to support management execute their strategy.
“Stephen’s wealth of experience, his strategic understanding and his interest in long-term, sustainable investment will be a great acquisition for the Fund”.
Commenting on his move, Mr. Dunne stated that he had enjoyed a long association with Cbus and was looking forward to directly contributing to the next phase of the Fund’s development.
“Cbus has always done a very good job of managing its members’ money. They have a very strong and capable management team and I’m looking forward to the opportunity to participate and add value” he said.
“I am impressed with Cbus’ clear purpose and strategy. They know the members they represent and their target market across the construction and building industry.
“They think innovatively about their investment strategy, and its execution. Cbus Property is an outstanding and very successful example of that.
“Cbus is also at the vanguard of sustainable investment strategies and maintain a strong commitment to those principles, something I am passionate about too.
“So it was a very attractive option for me and I’m looking forward to contributing to Cbus’ continuing growth and evolution” said Mr Dunne.
Mr Dunne will take up his role as Trustee Director and Chair of the Investment Committee early in 2016.
*Based on the crediting rate for the Growth (Cbus MySuper) default option, which is the return net of investment fees, taxes and the trustee operating cost. This does not account for the administration fee of $1.50 per week. Past performance is not a reliable indicator of future performance.