Cbus

Some of the country’s biggest super funds have navigated volatile markets and write-downs in one of their favourite asset classes to deliver solid returns in a tough year.

Australia’s largest super funds are casting a close eye over their property and infrastructure allocations amidst challenging market conditions, according to new research from J.P Morgan. And while investment internalisation continues to gather pace, not all funds are sold on its worth.

Kristian Fok has been appointed CEO of Cbus following the departure of Justin Arter and as the fund launches a new five-year investment strategy that will see it in-house another 12 per cent of its assets under management.

A number of industry funds have invested in Nuveen’s US Cities Workplace Strategy as they diversify away from traditional real estate and harness thematics related to changing work and life patterns.

Super funds are double-checking their marketing materials and coming to grips with an evolving regulatory regime as greenwashing risk looms large.

As the pace of superannuation consolidation slows, Cbus CEO Justin Arter will step down and the fund he’s run since 2020 will embark on a new growth plan.

Big super funds are getting even bigger. But as consolidation continues – and stapling kicks in – they’ve got a new problem that can’t easily be overcome: they’re more alike than different.

It’s not quite over, but the dislocation in equity markets and forced selling is leaving plenty of bargains on the floor. Super fund CIOs will be particularly glad for “the strongest tool in their kitbag”.

As homegrown competition intensifies and offshore players eye Australia’s retirement savings, the industry funds are now “frenemies”. Reinvigorating the collaborative model will be the key to their survival.

The last nine years of government have been characterised by a deep-seated suspicion of the country’s largest investors. But with Labor back in power, the super wars are almost certainly over.