Cbus Super appoints Head of ASX Core Strategy, Australian Equities and confirms continued benefits of Internalisation Strategy
6 February 2025
MEDIA RELEASE
Cbus Super has moved to further bolster its internal Investment capabilities after recently passing the $100 billion milestone with the appointment of Ryan Riedler as Head of ASX Core Strategy, Australian Equities. This new role will focus on active large cap Australian equities and builds on the Fund’s success to date in internalising a significant amount of its members’ funds under management.
Head of Portfolio Strategies Leigh Gavin said, “This is a critical appointment for Cbus and we are delighted to secure someone of Ryan’s calibre as we further evolve our Australian Equities strategy to deliver continued strong, long-term results for our members.
“This new domestic fundamental strategy is the next step for Cbus, having in recent years established a suite of fundamental and quantitative internal equities capabilities in domestic and global equities. This new strategy has relatively few capacity constraints and can, over time, be a multi-billion dollar strategy that is central to the overall Australian equities portfolio.”
After recently passing the $100 billion mark, Cbus is forecasting to grow its internal investment portfolio to about 50% of the portfolio within three years. At 30 June 2024, 34% of Cbus’ investment portfolio was managed internally.
Mr Riedler spent almost 14 years at well-known Australian equities fund manager, Cooper Investors.
Mr Gavin said Mr Riedler’s combination of a strong track record and deep understanding of the Australian equities market, including knowledge of key companies, sectors, and economic drivers will be a huge benefit for the Cbus Investment team.
Reporting to the Head of Portfolio Strategies, Mr Riedler will develop, implement, and oversee the investment strategy for the new ASX Core portfolio, which is complementary to the Fund’s existing internal Australian equities capabilities.
As one of the largest funds in the country, Cbus expects to grow its internal investment team of high calibre investment professionals from around 115 to 150 over the coming years and has a long history of low turnover.
“The shift to a higher level of internalisation has delivered strong results for members, including contributing to an overall saving of investment fee and cost savings of more than $1 billion since 2018. We will continue to look at ways we can bring further strategies in-house as part of Cbus’ five-year investment strategy,” Mr Gavin said.
The strength of this approach is reflected in Cbus’ long term returns of 7.8% p.a. over the 10 years to 31 December 2024, noting that the default Growth (MySuper) investment option was in the top 5 funds in the SuperRatings SR50 Balanced Survey over both 10 and 20 years to 31 December 2024.1 ’
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1 Taken from the SuperRatings FCRS SR50 Balanced (60-76) Index (December 2024). The default Growth (MySuper) investment option obtained a top 5 performance ranking over 10 years and 20 years for the period ending 31 December 2024. SuperRatings is a rating agency that collects information from super funds to enable performance comparisons - visit www.superratings.com.au for details of its rating criteria. Past performance is not a reliable indicator of future performance.
This information is about Cbus Super. 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 Super is right for you. Call 1300 361 784 or visit cbussuper.com.au
The $1 billion cumulative savings are estimated for each financial year from FY18 to FY24. The approach employed is to multiply the annual average size of the Growth option by the reduction in investment fees for each year relative to FY17.
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 920,000 (as at 30 June 2024) and we manage more than $94 billion (as at 30 June 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 Super 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.
Issued date 6 February 2025, United Super Pty Ltd ABN 46 006 261 623 AFSL 233792 as Trustee for the Construction and Building Unions Superannuation Fund ABN 75 493 363 262 (Cbus and/or Cbus Super).