6 July 2023
Cbus Super (AUD $85 billion FUM as at 30 June 2023) has announced a healthy return of 8.95%* for its Growth (MySuper) investment option for the last financial year. This result brings the rolling three-year average to 7.76%* and Cbus’ average annual return since inception of 8.89%*.
Cbus Chief Investment Officer Brett Chatfield said the healthy result had been achieved despite continued volatility in the markets.
“The significant volatility we have seen over the last three years has continued this financial year,” Mr Chatfield said.
“The ongoing invasion of Ukraine, various banking crises, persistent high global inflation and rising rates and political risks in the UK and US markets have helped the volatility rollercoaster to continue this year.
“Returning 8.95%* for members is testament to the hard work of our investment teams and the foundation we have built through our last five-year investment strategy.
“We’ve seen strong results across global and Australian equities, infrastructure, and credit this financial year. Clearly the property sector has had headwinds, but the high quality and diversified nature of our property portfolio has limited the impact on overall portfolio returns.”
Mr Chatfield said volatility in markets looked set to continue and stressed the importance of members looking at their super as a long-term investment.
“Over the last six months the likelihood of a global recession has increased, equity markets are still pricing in a rosy outlook, and as a result we remain defensively positioned with an underweight to equities and elevated cash holdings,” Mr Chatfield said.
“Two years ago we had a record result of over 19%, last year most funds had a small negative return and this year results have been similar to our long term return.
“With more turbulence on the way I’d encourage members to be mindful that switching investment options can prove costly in the long-run.
“The volatility rollercoaster of the last few years shows just how important it is to view super as a long-term investment and be careful of overacting to the various peaks and dips of the market.”
Mr Chatfield said that Cbus was well positioned to take advantage of investment opportunities as market conditions evolve.
Media enquiries: Tristan Douglas 0417 736 434
*As at 30 June 2023. The Growth (MySuper) investment performance is based on the crediting rate, which is the return minus investment fees, taxes and until 31 January 2020, the percentage-based administration fee. Excludes fees and costs that are deducted directly from members’ accounts. Past performance isn’t a reliable indicator of future performance. The inception date is 1 July 1984.
This information is about Cbus and doesn’t take into account your specific needs. You should look at your own financial position, objectives and requirements before making any financial decisions. Refer to Cbus Product Disclosure Statement, Target Market Determination and Financial Services Guide for more information. Call 1300 361 784 or visit cbussuper.com.au for a copy.
Cbus is the leading Industry Super Fund representing those that help build and maintain Australia. As one of Australia’s largest super funds, we provide superannuation and income stream accounts to more than 900,000 members and we manage more than $80 billion of our members’ money (as at 12 May 2023). Our members include workers and retirees, their families and employers. As of April 2022, Cbus merged with Media Super and offers Media Super products. In May 2023 Cbus Super successfully completed its merger with EISS Super, welcoming 17,000 new members and establishing itself as the leading fund for energy and electrical workers in Australia.
Issued 06/07/2023, United Super Pty Ltd ABN 46 006 261 623 AFSL 233792 as trustee for Construction and Building Unions Superannuation Fund (Cbus and/or Cbus Super) ABN 75 493 363 262.