Compare risk and return by selecting an investment option below

Investment warning: Investment returns can go up and down. Past performance is not a reliable indicator of future performance.

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.

There are differences between these options and the Fully Retired investment options.

Investment options

With a choice of six Pre-mixed and five DIY investment options, you can mix and match your investments to create a strategy that suits your needs. If you take this path, make sure you read the relevant Product Disclosure Statement and consider your options carefully. Contact us if you need help.

Conservative Growth (default)

This is the default investment option. Suitable for individuals who can accept some years when returns are negative but who expect that over the long term, returns will be above inflation. This option is in our Pre-mixed category.

Investment return objective
Deliver a return of inflation plus	2.25% p.a over rolling 10 year periods
Likelihood of negative annual returns	2 to 3 in every 20 years
Risk level	Medium

SAA Growth vs Defensive Allocation
Growth	52
Defensive	48

This strategic asset allocation information is current. Actual asset allocations may vary at any point in time due to market movements, cash flows and other activities, and are regularly monitored by the investment team and rebalanced back towards target, or in line with our views on opportunities and risks.

Note: Growth assets include Australian shares, international shares, private equity, alternative growth, 50% of infrastructure, 50% of property and 50% of global credit. Defensive assets include cash, fixed interest, 50% of property, 50% of infrastructure and 50% of global credit.

Asset Allocation	Range %
Australian shares	1.0 - 31.0
Global shares	0.5 - 32.0
Emerging market shares	0.0 - 14.0
Private equity	0.0 - 10.0
Alternative growth	0.0 - 12.5
Infrastructure	0.0 - 25.0
Property	0.0 - 25.0
Global credit	0.0 - 18.0
Australian fixed interest	0.0 - 47.0
Global fixed interest	0.0 - 47.0
Enhanced income	0.0 - 47.0
Cash	0.0 - 47.0

Historical returns % (crediting rate) to 30 June 2023
1 year	6.63%
3 years p.a.	4.78%
5 years p.a.	4.62%
Since inception p.a.	5.23%

High Growth

Suitable for individuals seeking the highest returns over the long term and can accept more years of negative returns. This option is in our Pre-mixed category.

Investment return objective
Deliver a return of inflation plus	3.75% p.a. over rolling 10 year periods
Likelihood of negative annual returns	5 to 6 in every 20 years
Risk level	High

SAA Growth vs Defensive Allocation
Growth	90
Defensive	10

This strategic asset allocation information is current. Actual asset allocations may vary at any point in time due to market movements, cash flows and other activities, and are regularly monitored by the investment team and rebalanced back towards target, or in line with our views on opportunities and risks.

Note: Growth assets include Australian shares, international shares, private equity, alternative growth, 50% of infrastructure, 50% of property and 50% of global credit. Defensive assets include cash, fixed interest, 50% of property, 50% of infrastructure and 50% of global credit.

Asset Allocation	Range %
Australian shares	15.0 - 48.5
Global shares	17.0 - 50.0
Emerging market shares	0.0 - 19.0
Private equity	0.0 - 13.0
Alternative growth	0.0 - 17.0
Infrastructure	0.0 - 23.0
Property	0.0 - 23.0
Global credit	0.0 - 10.0
Australian fixed interest	0.0 - 10.0
Global fixed interest	0.0 - 10.0
Cash	0.0 - 10.0

Historical returns % (crediting rate) to 30 June 2023
1 year	12.48%
3 years p.a.	10.08%
5 years p.a.	7.56%
Since inception p.a.	8.60%

Growth Plus

Suitable for individuals seeking higher returns over the long term, and who can accept some years of negative returns. This option is in our Pre-mixed category.

Investment return objective
Deliver a return of inflation plus	3.50% p.a. over rolling 10 year periods
Likelihood of negative annual returns	4 to 5 in every 20 years
Risk level	High

SAA Growth vs Defensive Allocation
Growth	82
Defensive	18

This strategic asset allocation information is current. Actual asset allocations may vary at any point in time due to market movements, cash flows and other activities, and are regularly monitored by the investment team and rebalanced back towards target, or in line with our views on opportunities and risks.

Note: Growth assets include Australian shares, international shares, private equity, alternative growth, 50% of infrastructure, 50% of property and 50% of global credit. Defensive assets include cash, fixed interest, 50% of property, 50% of infrastructure and 50% of global credit.

Asset Allocation	Range %
Australian shares	10.0 - 45.0
Global shares	10.0 - 45.0
Emerging market shares	0.0 - 19.0
Private equity	0.0 - 13.0
Alternative growth	0.0 - 13.0
Infrastructure	0.0 - 28.0
Property	0.0 - 28.0
Global credit	0.0 - 17.0
Australian fixed interest	0.0 - 15.0
Global fixed interest	0.0 - 15.0
Cash	0.0 - 15.0

Historical returns % (crediting rate) to 30 June 2023
1 year	10.65%
3 years p.a.	n/a
5 years p.a.	n/a
Since inception p.a.	2.43%

Growth

Suitable for individuals who can accept some years when returns are negative but who expect that over the long term, returns will be well above inflation. This option is in our Pre-mixed category.

Investment return objective
Deliver a return of inflation plus	3.25% p.a. over rolling 10 year periods
Likelihood of negative annual returns	3 to 4 in every 20 years
Risk level	Medium to High

SAA Growth vs Defensive Allocation
Growth	73.5
Defensive	26.5

This strategic asset allocation information is current. Actual asset allocations may vary at any point in time due to market movements, cash flows and other activities, and are regularly monitored by the investment team and rebalanced back towards target, or in line with our views on opportunities and risks.

Note: Growth assets include Australian shares, international shares, private equity, alternative growth, 50% of infrastructure, 50% of property and 50% of global credit. Defensive assets include cash, fixed interest, 50% of property, 50% of infrastructure and 50% of global credit.

Asset Allocation	Range %
Australian shares	5.0 - 38.0
Global shares	7.0 - 39.0
Emerging market shares	0.0 - 16.5
Private equity	0.0 - 12.0
Alternative growth	0.0 - 13.0
Infrastructure	0.0 - 28.0
Property	0.0 - 28.0
Global credit	0.0 - 17.0
Australian fixed interest	0.0 - 23.0
Global fixed interest	0.0 - 23.0
Cash	1.0 - 18.0

Historical returns % (crediting rate) to 30 June 2023
1 year	9.06%
3 years p.a.	7.68%
5 years p.a.	6.26%
Since inception p.a.	7.04%

Indexed Diversified

Suitable for individuals seeking an option that invests in a mix of assets that aim to closely match index returns with a focus on keeping costs low. Returns are expected to be above inflation, but will also have an increased chance of negative returns. This option is in our Pre-mixed category.

Investment return objective
Deliver a return of inflation plus	2.25% p.a. over rolling 10 year periods
Likelihood of negative annual returns	5 to 6 in every 20 years
Risk level	High

SAA Growth vs Defensive Allocation
Growth	70
Defensive	30

This strategic asset allocation information is current. Actual asset allocations may vary at any point in time due to market movements, cash flows and other activities, and are regularly monitored by the investment team and rebalanced back towards target, or in line with our views on opportunities and risks.

Note: Growth assets include Australian shares, international shares, private equity, alternative growth, 50% of infrastructure, 50% of property and 50% of global credit. Defensive assets include cash, fixed interest, 50% of property, 50% of infrastructure and 50% of global credit.

Asset Allocation	Range %
Australian shares	15.0 - 55.0
Global shares	20.0 - 60.0
Emerging market shares	0.0 - 10.0
Australian fixed interest	0.0 - 40.0
Global fixed interest	0.0 - 40.0
Cash	1.0 - 40.0

Historical returns % (crediting rate) to 30 June 2023
1 year	11.25%
3 years p.a.	n/a
5 years p.a.	n/a
Since inception p.a.	1.64%

Conservative

Suitable for individuals who can accept lower returns on the basis that negative returns will be limited. This option is in our Pre-mixed category.

Investment return objective
Deliver a return of inflation plus	1.00% p.a. over rolling 10 year periods
Likelihood of negative annual returns	1 to 2 in every 20 years
Risk level	Low to Medium

SAA Growth vs Defensive Allocation
Growth	31
Defensive	69

This strategic asset allocation information is current. Actual asset allocations may vary at any point in time due to market movements, cash flows and other activities, and are regularly monitored by the investment team and rebalanced back towards target, or in line with our views on opportunities and risks.

Note: Growth assets include Australian shares, international shares, private equity, alternative growth, 50% of infrastructure, 50% of property and 50% of global credit. Defensive assets include cash, fixed interest, 50% of property, 50% of infrastructure and 50% of global credit.

Asset Allocation	Range %
Australian shares	0.0 - 18.0
Global shares	0.0 - 18.5
Emerging market shares	0.0 - 9.5
Private equity	0.0 - 7.5
Alternative growth	0.0 - 9.5
Infrastructure	0.0 - 17.0
Property	0.0 - 17.0
Global credit	0.0 - 21.5
Australian fixed interest	0.0 - 58.5
Global fixed interest	0.0 - 58.5
Enhanced income	0.0 - 59.0
Cash	0.0 - 59.0

Historical returns % (crediting rate) to 30 June 2023
1 year	4.16%
3 years p.a.	2.28%
5 years p.a.	3.12%
Since inception p.a.	3.55%

Overseas Shares

Suitable for individuals seeking to invest in a range of overseas shares. This option aims to deliver strong capital growth over the longer term but has a higher expectation of negative returns. This option is in our DIY category.

Investment return objective
To deliver a return above the MSCI All Country World ex Australia Index (unhedged) after fees and adjusted for implied super tax	Over rolling 10-year periods
Likelihood of negative annual returns	6 to 7 in every 20 years
Risk level	Very High

SAA Growth vs Defensive Allocation
Growth	100
Defensive	0

This strategic asset allocation information is current. Actual asset allocations may vary at any point in time due to market movements, cash flows and other activities, and are regularly monitored by the investment team and rebalanced back towards target, or in line with our views on opportunities and risks.

Note: Growth assets include Australian shares, international shares, private equity, alternative growth, 50% of infrastructure, 50% of property and 50% of global credit. Defensive assets include cash, fixed interest, 50% of property, 50% of infrastructure and 50% of global credit.

Asset Allocation	Range %
Global shares	90.0 - 100.0
Cash	0.0 - 10.0

This strategic asset allocation information is current. Actual asset allocations may vary at any point in time due to market movements, cash flows and other activities, and are regularly monitored by the investment team and rebalanced back towards target, or in line with our views on opportunities and risks.

Historical returns % (crediting rate) to 30 June 2023
1 year	18.74%
3 years p.a.	n/a
5 years p.a.	n/a
Since inception p.a.	2.67%

Australian Shares

Suitable for individuals seeking to invest in a range of Australian shares. This option aims to deliver strong capital growth over the longer term but has a higher expectation of negative returns. This option is in our DIY category.

Investment return objective
To deliver a return above the S&P/ASX 300 Accumulation Index after fees and adjusted for implied super tax	Over rolling 10-year periods
Likelihood of negative annual returns	6 to 7 in every 20 years
Risk level	Very High

SAA Growth vs Defensive Allocation
Growth	100
Defensive	0

This strategic asset allocation information is current. Actual asset allocations may vary at any point in time due to market movements, cash flows and other activities, and are regularly monitored by the investment team and rebalanced back towards target, or in line with our views on opportunities and risks.

Note: Growth assets include Australian shares, international shares, private equity, alternative growth, 50% of infrastructure, 50% of property and 50% of global credit. Defensive assets include cash, fixed interest, 50% of property, 50% of infrastructure and 50% of global credit.

Asset Allocation	Range %
Australian shares	90.0 - 100.0
Cash	0.0 - 10.0

Historical returns % (crediting rate) to 30 June 2023
1 year	14.91%
3 years p.a.	n/a
5 years p.a.	n/a
Since inception p.a.	4.34%

Property

Suitable for individuals seeking to invest in a property assets. It invests in unlisted property and Global Listed Real Estate Investment Trusts (GREITs). This option is in our DIY category.

Investment return objective
Deliver a return of inflation plus	2.50% p.a. after fees and tax, over rolling 10 year periods
Likelihood of negative annual returns	4 to 5 in every 20 years
Risk level	High

SAA Growth vs Defensive Allocation
Growth	71
Defensive	29

This strategic asset allocation information is current. Actual asset allocations may vary at any point in time due to market movements, cash flows and other activities, and are regularly monitored by the investment team and rebalanced back towards target, or in line with our views on opportunities and risks.

Note: Growth assets include Australian shares, international shares, private equity, alternative growth, 50% of infrastructure, 50% of property and 50% of global credit. Defensive assets include cash, fixed interest, 50% of property, 50% of infrastructure and 50% of global credit.

Asset Allocation	Range %
Unlisted Property	0.0 - 85.0
Global Listed Real Estate Investment Trusts	15.0 - 100.0
Cash	2.0 - 30.0

Historical returns % (crediting rate) to 30 June 2023
1 year	-3.77%
3 years p.a.	n/a
5 years p.a.	n/a
Since inception p.a.	-3.82%

Diversified Fixed Interest

Suitable for individuals seeking to invest in a range of Australian and global fixed interest and global credit. This option is in our DIY category.

Investment return objective
Deliver a return of inflation plus	0.50% p.a. after fees and tax, over rolling 10 year periods
Likelihood of negative annual returns	1 to 2 in every 20 years
Risk level	Low to Medium

SAA Growth vs Defensive Allocation
Growth	25
Defensive	75

This strategic asset allocation information is current. Actual asset allocations may vary at any point in time due to market movements, cash flows and other activities, and are regularly monitored by the investment team and rebalanced back towards target, or in line with our views on opportunities and risks.

Note: Growth assets include Australian shares, international shares, private equity, alternative growth, 50% of infrastructure, 50% of property and 50% of global credit. Defensive assets include cash, fixed interest, 50% of property, 50% of infrastructure and 50% of global credit.

Asset Allocation	Range %
Global credit	20.0 - 80.0
Australian fixed interest	0.0 - 50.0
Global fixed interest	0.0 - 50.0

Historical returns % (crediting rate) to 30 June 2023
1 year	1.74%
3 years p.a.	n/a
5 years p.a.	n/a
Since inception p.a.	-2.64%

Cash

Suitable for individuals who want to avoid negative returns (expected negative returns are negligible). Returns over the long term are expected to be lower than the other Cbus investment options. This option is in our DIY category.

Investment return objective
Deliver a return aligned with the RBA cash rate after fees and adjusted for implied super tax	Over rolling 3-year periods
Likelihood of negative annual returns	Negligible in 20 years
Risk level	Very low

SAA Growth vs Defensive Allocation
Growth	0
Defensive	100

This strategic asset allocation information is current. Actual asset allocations may vary at any point in time due to market movements, cash flows and other activities, and are regularly monitored by the investment team and rebalanced back towards target, or in line with our views on opportunities and risks.

Note: Growth assets include Australian shares, international shares, private equity, alternative growth, 50% of infrastructure, 50% of property and 50% of global credit. Defensive assets include cash, fixed interest, 50% of property, 50% of infrastructure and 50% of global credit. Please note the Cash savings option includes a 50% allocation with the Australia and New Zealand Banking Group Limited (ANZ).

Asset Allocation	Range %
Cash	100.0

Historical returns % (crediting rate) to 30 June 2023
1 year	2.77%
3 years p.a.	1.03%
5 years p.a.	1.13%
Since inception p.a.	1.21%

Investment performance

Transition to retirement investment option performance to 31 March 2024¹

	1 month (%)	Financial Year to Date (%)	1 year (%)	3 years p.a (%)	5 years p.a (%)	7 years p.a (%)
Conservative Growth (default)	1.48	6.75	7.97	4.30	5.28	n/a
High Growth	2.44	10.89	14.17	7.83	9.21	n/a
Growth Plus	2.12	9.34	11.94	n/a	n/a	n/a
Growth	1.90	8.53	10.54	6.33	7.28	n/a
Indexed Diversified	2.28	11.20	14.03	n/a	n/a	n/a
Conservative	1.01	5.23	5.56	2.75	3.46	n/a
Overseas Shares	2.74	16.77	23.82	n/a	n/a	n/a
Australian Shares	3.64	12.66	14.55	n/a	n/a	n/a
Property	0.78	1.38	0.34	n/a	n/a	n/a
Diversified Fixed Interest	0.76	4.22	3.44	n/a	n/a	n/a
Cash	0.35	3.05	3.93	2.03	1.46	n/a

¹ This table shows the most recent crediting rates (published monthly on or around 14 to 21 days following each months reporting period).

^{Please note, the Growth Plus, Indexed Diversified, Overseas Shares, Australian Shares, Property and Diversified Fixed Interest options commenced on 14 February 2022 therefore crediting rate information for longer time periods are not applicable. The remaining Transition to Retirement investment options commenced on 1 July 2017 therefore historical returns and performance information for longer time periods is not applicable.}

^{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 is not a reliable indicator of future performance.}

Cbus has declared crediting rates daily since 4 October 2018. Prior to this rates were declared weekly.

Crediting rates are the investment earnings for each investment option. Cbus calculates crediting rates and declares these on a daily basis. Crediting rates go up and down during the year, reflecting movements in investment markets.

Learn about crediting rates (PDF)