Cbus Super welcomes return of 9.49% for 2023 calendar year

17 January 2024



Cbus Super (more than AUD $85 billion FUM as at 30 June 2023) has announced a strong return of 9.49% for its Growth (MySuper) investment option over the 2023 calendar year.

This result takes the 10 year average return of the Growth (MySuper) option to 7.60% per annum (as at 31 December 2023).

Cbus Chief Investment Officer Brett Chatfield said this was a pleasing result considering the volatility seen in financial markets over the past 12 months.

“It’s a very good outcome for our members, with our Growth (MySuper) option return of 9.49% over the 2023 calendar year and all our options delivering positive 1 year returns.

“Our investment team navigated some difficult market conditions last year, with rising interest rates, high inflation, some pressures in the commercial property market, and global conflicts creating a challenging economic environment. However, our robust and well diversified investment strategy has meant our members still enjoyed strong returns,” Brett Chatfield said.

While the 2023 calendar year return was a strong result, there are some challenges ahead for investments in 2024.

“While we agree that most developed market central banks have reached the peak of their tightening cycle, labour markets remain tight, wages growth remains strong and inflation, while moving in the right direction, remains above central bank targets.

“As a result, we expect interest rates will remain higher this year than the current market pricing suggests,” Brett Chatfield said.

In response to these factors, Cbus’ portfolio is positioned somewhat defensively heading into 2024.

“We remain slightly underweight equities but have recently moved to a more neutral stance with respect to fixed interest. Some property sectors like office remain challenged, but we have a very high quality, sustainable portfolio.

“Our investment options remain well diversified and are designed to withstand any periods of short-term market volatility we may see in 2024,” Brett Chatfield said.

Cbus will also celebrate its 40th anniversary in July this year, providing an opportunity for the fund to honour its founding members, unions, employers and industry leaders whose campaigning and vision helped create not only Cbus, but Australia’s superannuation system.

“We are very proud of our history and how far Cbus has evolved over the past 40 years. Since inception (1 July 1984) to 31 December 2023, Cbus’ Growth (MySuper option) has returned an average of 8.86% per annum to our members.

“We will continue to be focused on identifying investment opportunities that will deliver good returns for our members, ensuring they can enjoy the dignified retirement that they deserve,” Brett Chatfield said.


Media enquiries: David McNamara, 0455 144 464, david.mcnamara@cbusuper.com.au


Performance as at 31 December 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 $85 billion of our members’ money (as at 30 June 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 17/01/2024, 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.