Investment update February 2024

Market overview

The last month has seen part of the ‘soft landing’ economic outlook further tested, with inflation showing some persistence in a number of economies, most notably the US where underlying CPI data surprised on the upside for the second month in a row. Inflation rates across all major economies fell significantly over 2023, paving the way for many central banks to start considering the prospect of easing rates, with markets pricing in rate cuts for most advanced economies to begin this year.

Investment performance

View our latest super investment option performance
View our latest transition to retirement investment option performance
View our latest fully retired investment option performance

Asset allocation

The Strategic Asset Allocation (SAA) provides guidance for the portfolio allocation over the medium to long term (10+ years) and is reviewed annually. The SAA for all investment options can be found on the following pages:

The actual asset allocations at any point in time may differ from their respective targets due to market movements, cash flows and other activities.

Actual asset allocations are regularly monitored by the investment team and rebalanced back towards target, or in line with our views on opportunities and risks.

See below for the Growth (MySuper) option actual allocation.

Actual allocation 29/2/2024	Growth (MySuper)
Australian shares	24.40%
Global shares	28.29%
Emerging market shares	2.60%
Private equity	2.18%
Alternative growth	1.76%
Infrastructure	12.96%
Property	9.45%
Global credit	6.55%
Australian fixed interest	6.13%
Global fixed interest	3.12%
Cash	2.56%
Growth / defensive allocation split	73.71% / 26.29%

Note: Growth assets include Australian shares, global shares, emerging market 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.

Figures are subject to rounding. Actual asset allocation is current as at 29 February 2024. Asset classes are the building blocks of our investment options. We allocate different proportions to each asset class with the aim of meeting each option’s investment risk and return objective. By investing across a range of asset types, the risk of loss is reduced through diversification. For more information see asset classes.

We periodically review our investment strategy and believe that the Growth (MySuper) option is well positioned for growth over the medium to long term, while maintaining some defensive exposure. Cbus’ Pre-mixed investment options are broadly diversified across asset classes.

Disclosure

The information is about Cbus. It doesn’t take into account your specific needs, so you should look to your own financial position, objectives and requirements before making any financial decisions. Read the Cbus Product Disclosure Statement and the Target Market Determination to decide whether Cbus is right for you, or contact us for a copy.