CEO update

Since I last wrote to you, Cbus has celebrated a key anniversary, with 1 July marking 40 years of delivering strong, long-term returns for a better retirement for our members.

It’s a significant milestone for members and employers as we reflect on our growth to more than 920,000 members and managing $94 billion of our members’ money (as at 30 June 2024).

I am pleased to report that over the past four decades since inception, we have delivered an average return of 8.87% per annum^*.

Your employees will receive their annual statements soon and will see that the 2023-24 contribution to that long term average is 8.35% for the Growth (My Super) option^*.

Over the past four decades, we have achieved a great deal together, as Cbus has evolved into a specialist fund with a focus on member services, our offering to employers, and our record of investing in the building and construction sector.

Our governance model brings together industry specialist directors from both employer and employee organisations that has helped us adapt to changes in the industry over the past 40 years.

Cbus’ success has been built on the strong relationships it has with employers and members of the Fund, and I want to acknowledge your achievements in helping us to deliver better retirement outcomes for members.

This includes the efforts of employers to make sure super contributions are made when due, in facilitating access for employees and Cbus members to education and super health check sessions with Cbus coordinators on site, and responding to developments that make it easier and quicker to make contributions on behalf of your employees.

The Fund’s strength lies in the collaboration that is at the heart of how we are governed, how we invest, and how we work.

We acknowledge the workers who fought for superannuation in the building and construction industries, and employers for their role in the world-leading super system we have today.

It is a privilege to have served as Cbus’ Chief Investment Officer for a decade, and now as its Chief Executive Officer at a special time in the fund’s history.

Our anniversary serves as a strong reminder of the importance of Cbus in the lives of its members, of superannuation, and how working together we can ensure that our members’ hard work pays off in retirement for the next 40 years and beyond.

Kristian Fok
CEO

^* As at 30 June 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.