From CEO Kristian Fok regarding recent media coverage
Cbus is one of Australia’s largest and best performing super funds over the long term, with $94 billion in funds under management on behalf of 920,000 members*.
Cbus is a highly regulated, major financial institution with a 40 year history of investing on your behalf and delivering strong net returns.
Our investment team of over 100 professionals oversees a global diversified portfolio that helps grow your super.
This week, Cbus was rated a top five performing fund over 10, 15 and 20 years by independent research agency SuperRatings.
You may be aware that Cbus has been the subject of media coverage in the past week. I want to assure you that our number one focus remains protecting and growing your retirement savings, as we have successfully done for over four decades.
Cbus condemns any criminal activity in the building and construction industry. We support the efforts of governments, law enforcement and union organisations to eradicate any such criminal activity.
Allegations relating to subcontracting arrangements on a recent Sydney building project are the subject of criminal proceedings, and we are not able to and will not comment on them.
Cbus Property undertakes a detailed process on each development site to appoint an independent contractor to manage its construction projects. The independent contractor enters into agreements with all sub-contractors and suppliers. Subcontractors on all sites are appointed by the contractor, not Cbus Property.
Cbus has good governance processes around our Board and as would be expected we have met all our legal and regulatory obligations with respect to Director appointments. We will continue to take steps to ensure that we meet all our future legal and regulatory obligations.
We will also continue to engage with superannuation industry regulators.
Our independent chair and our directors, who include independent, union and employer group representatives, are bound by law to act in members’ best financial interests. This equal representative trustee model has contributed to the long-term success of our fund. It has served our members well in the past and continues to do so.
Kristian Fok
CEO
*As at 30 June 2024
Cbus Property is a wholly owned entity of Cbus Super. Cbus Property has responsibility for the strategic performance and management of all aspects of the Cbus direct property investment business, including major investments and developments in the commercial, retail and residential sectors.
This information is about Cbus. It doesn’t account for your specific needs. Please consider your financial position, objectives and requirements before making financial decisions. Read the relevant Product Disclosure Statement (PDS) and Target Market Determination to decide if Cbus is right for you. Call 1300 361 784 or visit cbussuper.com.au.
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 (as at 31 March 2024) and we manage $90 billion of our members’ money (as at 31 January 2024). 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 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.
Past performance is not a reliable indicator of future performance.
Issued 23 July 2024, United Super Pty Ltd ABN 46 006 261 623 AFSL 233792 as Trustee for Construction and Building Unions Superannuation Fund (Cbus) ABN 75 493 363 262.