Cbus investment managers

Cbus uses Australian and international investment managers, and also manages some assets internally.


Each investment manager is responsible for a specified amount of Cbus’ assets. They are managed with an agreed mandate between the manager and the Trustee, in consultation with the investment adviser.

During the year, we monitor the performance of investment managers closely and compare it with industry benchmarks.

 

Cbus total investments At 30 June 2021
  $ millions (%)
Australian shares
Industry Funds Management 3,887.87 5.96
Paradice Investment Management 2,148.34 3.29
Perpetual Investment Management 1,973.02
3.02
Magellan Asset Management Ltd (formerly Airlie Funds Management) 1,688.38 2.59
Ausbil 1,536.78 2.35
Hyperion Asset Management
1,427.92
2.19
Cbus Internally Managed 1,395.58 2.14
Allan Gray Australia 956.10 1.46
First Sentier Investors Realindex Pty Ltd4 310.59 0.48
Ellerston Capital  265.99 0.41
Novaport Capital 160.53 0.25
Other1 0.44 0.00
State Street Corporation .00 0.00
Mesirow Financial Currency Management2 -10.16 -0.02
Challenger Investment Solutions Management Pty Ltd3 -19.32 -0.03
Total Australian shares 15,722.07
24.08
 
Emerging Markets
Cbus Internally Managed 678.56 1.04
First Sentier Investors Realindex Pty Ltd 655.58 1.00
Wellington Management Company 653.34 1.00
GQG Partners LLC 632.95 0.97
Invesco 630.52 0.97
Comgest Far East Limited 601.41 0.92
Lazard
332.26 0.51
Other1 0.18 0.00
SSGM Equities exposure 0.11 0.00
Blackrock 0.06 0.00
Global Thematic Partners  0.04 0.00
Citigroup 0.03 0.00
Vanguard 0.03 0.00
Stewart Investors 0.00 0.00
Mesirow Financial Currency Management2 -45.46 -0.07
Total Emerging Markets 4,139.61 6.34
 
International Equities
First Sentier Investors Realindex Pty Ltd4 4,095.82 6.27
Cbus Internally Managed 3,401,37 5.21
Harris 2,193.85 3.36
Mondrian 2,169.35 3.32
Ballie Gifford Overseas 1,978.33 3.03
AQR Capital Management4 1,785.65 2.74
Challenger Investment Solutions Management Pty Ltd 903.28  1.38
Capstone Investment Advisors LLC 232.37 0.36
Global Thematic Global 2.50 0.00
Vanguard Investments Australia 0.68 0.00
Other1 0.67 0.00
Citigroup  0.24 0.00
State Street 0.00 0.00
Mesirow Financial Currency Management2 -128.61 -0.20
Total International Equities 16,635.48 25.48
 
Property
Cbus Property  3,295.75
5.05
ISPT  1,690.34 2.59
Resolution Capital  1,140.32 1.75
Heitman LLC 329.26 0.50
Franklin Capital 0.12 0.00
Mesirow Financial Currency Management2 -37.79 -0.06
Total Property 6,418.00
9.83
 
Infrastructure
Industry Funds Management 3,720.44 5.70
UTA  1,512.91 2.32
Cbus Internally Managed 1,205.49 1.85
Capital Dynamics 119.51 0.18
RARE Infrastructure 30.86 0.05
Copenhagen Infrastructure Partners 17.10 0.03
State Street 0.00 0.00
Mesirow Financial Currency Management2 -12.73 0.02
Total Infrastructure  6,593.58 10.10
 
Private Equity
ROC Private Equity 660.26 1.01
Cbus Strategic Assets 481.70 0.74
Siguler Guff & Company 122.42 0.19
Newbury Associates
96.93
0.15
Other1 83.14 0.13
VenCap International 69.97 0.11
Industry Funds Management 64.22 0.10
Mesirow Financial Currency Management2 55.68 0.09
LGT Capital Partners
29.88 0.05
Stafford Capital Partners 27.01 0.04
Pomona 3.72 0.01
Wilshire 2.12 0.00
CCP Australia 0.59 0.00
Mesirow Financial Currency Management2
-13.97 0.02
Total Private Equity 1,683.66
2.58
 
Alternative Growth
Cbus Internally Managed 540.50 0.83
Industry Funds Management 300.75 0.46
Impax 267.78 0.41
Capital Dynamics 36.12 0.06
Other1 8.64 0.01
TPG Opportunities Partners II 7.49 0.01
Oaktree 0.77 0.00
Mesirow Financial Currency Management2 -5.99 -0.01
Total Alternative Growth Strategies 1,156.07 1.77
 
Fixed Interest
Vanguard Investments4 2,028.13 3.11
Vanguard Investments Australia 1,900.05 2.91
Cbus Internally Managed 139.55 0.21
Cbus Self Managed 0.04 0.00
Other1 0.01
0.00
Total Fixed Interest 4,067.77 6.23
 
Mid-Risk Alternatives
Oaktree Global  1,159.88
1.78
Industry Funds Management 1,112.61 1.70
Babson 776.33 1.19
Cbus Internally Managed 584.24 0.89
Max Cap 108.05 0.17
Challenger 9.91 0.02
Hayfin Direct Lending 1.94 0.00
Mesirow Financial Currency Management2 -0.03 0.00
Total Mid-Risk Alternatives 3,752.93 5.75
 
Cash
Cbus Internally Managed 4,516.03 6.92
ANZ 494.84 0.76
Challenger Investment Solutions Pty Ltd
59.34 0.09
Mesirow Financial Currency Management2
43.68 0.07
Industry Funds Manager 0.04 0.00
Other1 0.00 0.00
Total Cash 5,113.93 7.83
 
Total investments 65,283.11 100.00

1 Other may include operational cash, options, funds in transition, small holdings and outstanding fees on closed accounts, and funds held in the Administration account.
2 Mesirow Financial Currency Management manages the currency hedging for Cbus.
3 Figures are subject to rounding.
4 Hybrid strategy implemented by external investment manager.

Note: figures are subject to rounding.