Cbus congratulates government on National Housing Accord
Cbus Super, Australia’s leading super fund for the built environment sector, welcomes the announcement of the federal government’s visionary National Housing Accord.
“The Accord is a great leap forward for the provision of social and affordable housing in Australia,” Cbus CEO Justin Arter said.
“Cbus has long been an advocate for increased investor participation in social and affordable housing.
“We are proud to have advocated for the National Housing Finance and Investment Corporation (NHFIC) housing bond aggregator to be able to fund the construction of new builds and we have been an active participant in many bond issuances since early 2019. As a responsible investor we are proud to have been there from the early days playing a part in this sector.
“The Accord has the potential to super charge this work, provide attractive returns for our members and address the affordable housing gap.
“The Accord will also mean more work and jobs for our members in the building and construction industry. Social housing construction creates jobs and keeps the economy moving.
“We applaud the move to bring together governments, industry groups and investor funds like ours so that we are working in a coordinated way in an area of national importance.”
Cbus Deputy Chief Investment Officer Brett Chatfield said the Accord was an opportunity to build on proven affordable housing finance models.
“In addition to investing almost $150 million in NHFIC bonds over the last four years we are also currently providing construction funding for a social and affordable housing apartment complex in Victoria,” Mr Chatfield said.
“I’m proud of the leading work Cbus has done contributing to these innovative models and as a long-term proponent of these investments we are excited about the opportunities the National Housing Accord will bring.
“It is something that our team has put a lot of thought and effort into over the years working closely with NHFIC and others in the housing sector.
“The key has been matching the risk adjusted return profile of social and affordable housing investments to similar investments we would otherwise make. Current construction supported by NHFIC bond issuances shows the funding model works.
“It is this alignment that creates the win-win situation of strong investment returns for our members and more secure and affordable housing for vulnerable Australians.”
Media enquiries: Tristan Douglas, 0417 736 434 or tristan.douglas@cbussuper.com.au
This information is about Cbus and doesn’t take into account your specific needs. You should look at your own financial position, objectives and requirements before making any financial decisions. Refer to Cbus Product Disclosure Statement, Target Market Determination and Financial Services Guide for more information. Call 1300 361 784 or visit cbussuper.com.au for a copy.
Cbus is the leading Industry Super Fund representing those that help shape Australia. As one of Australia’s largest super funds, we provide superannuation and income stream accounts to more than 850,000 members and we manage more than $70 billion of our members’ money (as at 30 June 2022). Our members include workers and retirees, their families and employers. As of April 2022, Media Super is now a division of Cbus, offering Media Super products. For more than 30 years Media Super has been the industry super fund for Print, Media, Entertainment and Arts, and broader creative industries.
Issued 25 October 2022. 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).