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Quarterly Investment Update June 25
Learn about the latest Investment update market overview. Read more.
Read more...Compare risk and return by selecting an investment option below
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.
Investment warning: Investment returns can go up and down. The crediting rate is based on investment returns minus investment fees and costs, transaction costs and investment-related 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.
There are differences between these options and the Fully Retired investment options.
Conservative Growth (default)
This is the default investment option. It may suit members who can accept some years when investment returns are negative, but who expect that over the long term, investment returns may be above inflation. This investment 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 | 51.75 |
| Defensive |
48.25 |
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 - 48.0 |
| Global fixed interest | 0.0 - 48.0 |
| Enhanced income | 0.0 - 47.0 |
Cash |
0.0 - 47.0 |
| Historical returns % (crediting rate) to 30 June 2025 | |
|---|---|
| 1 year | 8.47% |
| 3 years p.a. | 7.32% |
| 5 years p.a. | 5.93% |
| Since inception p.a. | 5.83% |
High Growth
It may suit members seeking the highest investment returns over the long term, and who can accept more years of negative investment returns. This investment 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 2025 | |
|---|---|
| 1 year | 11.85% |
| 3 years p.a. | 11.72% |
| 5 years p.a. | 10.58% |
| Since inception p.a. | 9.28% |
Growth Plus
It may suit members seeking higher investment returns over the long term, and who can accept some years of negative investment returns. This investment 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 | 82.25 |
| Defensive |
17.75 |
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 % |
|---|---|
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 2025 | |
|---|---|
| 1 year | 11.03% |
| 3 years p.a. | 10.35% |
| 5 years p.a. | n/a |
| Since inception p.a. | 6.97% |
Growth
It may suit members who can accept some years when investment returns are negative, but who expect that over the long term, investment returns will be well above inflation. This investment 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 | 73.50 |
| Defensive |
26.50 |
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 2025 | |
|---|---|
| 1 year | 10.37% |
| 3 years p.a. | 9.31% |
| 5 years p.a. | 8.38% |
| Since inception p.a. | 7.63% |
Indexed Diversified
It may suit members looking for an investment option that invests in a mix of assets that aim to closely match index investment returns with a focus on keeping costs low. Investment returns are expected to be above inflation, but will also have an increased chance of negative investment returns. This investment 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 | 75 |
| Defensive |
25 |
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 |
10.0 - 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 2025 | |
|---|---|
| 1 year | 11.70% |
| 3 years p.a. | 11.45% |
| 5 years p.a. | n/a |
| Since inception p.a. | 7.41% |
Conservative
It may suit members who can accept lower investment returns on the basis that negative investment returns will be limited. This investment 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 | 30.75 |
| Defensive |
69.25 |
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 - 60.0 |
| Global fixed interest | 0.0 - 60.0 |
| Enhanced income | 0.0 - 59.0 |
| Cash | 0.0 - 59.0 |
| Historical returns % (crediting rate) to 30 June 2025 | |
|---|---|
| 1 year | 6.60% |
| 3 years p.a. | 5.44% |
| 5 years p.a. | 3.79% |
| Since inception p.a. | 4.18% |
Overseas Shares
It may suit members looking to invest in a range of overseas shares. This investment option aims to deliver strong capital growth over the longer term but has a higher expectation of negative investment returns. This investment 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 2025 | |
|---|---|
| 1 year | 17.83% |
| 3 years p.a. | 17.45% |
| 5 years p.a. | n/a |
| Since inception p.a. | 10.84% |
Australian Shares
It may suit members looking to invest in a range of Australian shares. This investment option aims to deliver strong capital growth over the longer term but has a higher expectation of negative investment returns. This investment 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 2025 | |
|---|---|
| 1 year | 11.34% |
| 3 years p.a. | 12.56% |
| 5 years p.a. | n/a |
| Since inception p.a. | 8.48% |
Property
It may suit members looking to invest in property assets. It invests in unlisted property and listed Global Real Estate Investment Trusts (GREITs). This investment 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 | 71.25 |
| Defensive |
28.75 |
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 % |
|---|---|
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 2025 | |
|---|---|
| 1 year | 4.96% |
| 3 years p.a. | 0.27% |
| 5 years p.a. | n/a |
| Since inception p.a. | -0.20% |
Diversified Fixed Interest
It may suit members looking to invest in Australian and global fixed interest and global credit. This investment 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 2025 | |
|---|---|
| 1 year | 5.92% |
| 3 years p.a. | 4.10% |
| 5 years p.a. | n/a |
| Since inception p.a. | 1.99% |
Cash
It may suit members who want to avoid negative investment returns (expected negative investment returns are negligible). Investment returns over the long term are expected to be lower than our other investment options. This investment 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 2025 | |
|---|---|
| 1 year | 4.17% |
| 3 years p.a. | 3.69% |
| 5 years p.a. | 2.26% |
| Since inception p.a. | 1.94% |
Investment performance
Transition to retirement investment option performance to 30 September 20251
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 investment 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)
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