CEO update

Leading the way

It’s an exciting time to lead Cbus Super, with 2024 underway and marking the 40th anniversary of our founding.

Employers have been a critical part of the success of Cbus Super. Your diligence – and those before you – in making regular payments for your employees and encouraging them to check their super, has provided the best opportunities to achieve the retirement they would like.

Through this diligence, employers have also played a critical role in our ability to build our financial scale to provide Cbus Super with a strong position in the marketplace. I’m pleased to announce that the Fund has just reached $90 billion of funds under management^*.

Forty years ago, our founding members and employers joined together to create and launch the model that would establish Cbus Super and superannuation for building and construction workers. The innovations of our founding leaders stand today – tailored insurance, competitive fees and investing back into our sectors.

Strong, long-term returns and providing access to the power of compound interest have been transformative in providing members with comfort and security in retirement. And from the beginning, the insurance provided with super was designed to cover workers in hazardous occupations and it still does to this day.

We thank our founding members, unions, employers and leaders for their vision, hard work, and lasting legacy.

Strong returns

In welcome news for our members, Cbus Super announced a strong return of 9.49% for its Growth (MySuper) investment option over the 2023 calendar year^†.

This is a great result given the volatility seen in financial markets during 2023 and adds to the strong long-term results we have delivered for members over the past 40 years. In a separate announcement, leading research, data and analytics provider Chant West, released their returns results and Cbus was confirmed in the top five performers over 10 years.

These results are testament to the hard work of our investment team and the very high-quality portfolio it manages. Our investment options remain well diversified and all delivered a positive one-year return for the calendar year 2023.

Kristian Fok
CEO

^* As at 31 January 2024  

^† The Growth (MySuper) investment option return 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. 

Insurance is issued under a group policy with our insurer, TAL Life Limited ABN 70 050 109 450 AFSL 237848.