handbook

Investment

30 September 2022
The information in this document forms
part of the following Product Disclosure
Statements:
■ Cbus Industry Super Product Disclosure
Statement issued 30 September 2022
■ Cbus Sole Trader Super Product Disclosure
Statement issued 30 September 2022
■ Cbus Personal Super Product Disclosure
Statement issued 30 September 2022
■ Cbus Corporate Super Product Disclosure
Statement issued 30 September 2022
Includes: Investment choice form
1208.3 09-22 ISS16
 About this handbook
The information in this handbook is about Cbus. The information
is general in nature and does not take into account your specific
needs. You should consider your own financial position, objectives
and requirements before making any financial decisions. Read
the relevant Cbus Product Disclosure Statement (PDS) to decide
whether Cbus is right for you. Also read the relevant Target Market
Determination at cbussuper.com.au/tmd.
All figures are current at publication unless otherwise stated
and are subject to change. Check cbussuper.com.au for the
most up to date information.
This Investment handbook is about standard investment options
for superannuation members. Information about Cbus Super
Income Stream investment options is available in the Cbus Super
Income Stream Product Disclosure Statement. Information about
investing in the Cbus Self Managed investment option is available
in the Cbus Self Managed investment guide.
For a copy of these publications call us on 1300 361 784 or
download a copy from cbussuper.com.au.
Investment performance
Past performance is not a reliable indicator of future performance.
It has been used here as a general guide of relative returns only.
The return objectives in this document are not guaranteed.
The value of your investment can rise or fall.
Issued by United Super Pty Ltd ABN 46 006 261 623 AFSL 233792
as Trustee for Cbus Super Fund ABN 75 493 363 262 offering
Cbus and Media Super products. Use of ‘us’, ‘we’, ‘our’ or ‘the
Trustee’ is a reference to United Super Pty Ltd. Use of 'Fund' refers
to Cbus Super Fund.
Send all mail to:
Cbus, Locked Bag 5056, Parramatta NSW 2124
This document replaces the previous version dated 2 July 2022.

Talk to us if you need help

It’s important to get advice before you make
any changes to how your super’s invested. The
decisions you make now can have an impact on
how much money you’ll have later in life.
Call us to talk to our Advice Services team. We can help you with:
■ choosing your investments
■ general information about super and tax
■ completing your Investment choice form.

This service is offered at no extra cost as part of your

membership. See page 6 for more details on advice you can get
through Cbus.

1300 361 784 8.30am to 6pm (AEST/AEDT)

Monday to Friday, closed on national public holidays

[email protected]
cbussuper.com.au
Log in to chat to us online

2 | Investment handbook
We offer a range of investment options, so you can
make a choice that suits you and your goals. Use this guide
to explore your options.

New to investing? We’ve got you covered.

You invest your super to help it grow. The higher the return, the more
money you’ll have to spend in retirement.
You might not want to make an investment choice, and that’s OK. We
take the hard work out of your decision by automatically investing your
super in the Growth (MySuper) option, which is designed to suit most Average annual return*
members, unless you make a choice. since 1984

Wanting a bit more choice? With a choice of six Pre-mixed and five DIY investment options, you can mix
and match your investments to create a strategy that suits your needs. If you take this path, make sure you
read this guide and consider your options carefully. And get in touch if you need help.

Your investment roadmap

Here’s how to navigate your investment journey – from understanding your options
to making a decision that’s right for you.

1 Set your goals

Think about your goals and understand how they’ll influence your investment choices. page 4

2 Understand the investment basics

Get to know how investments work so you can better understand your options. page 7

3
Compare your investment options
See whether you want a Pre-mixed option, or a specific type of investment through the
DIY options. page 12

4
Discover how we invest your super
Learn how our team of experts manage your investments, including our approach to
responsible investment and Cbus Property. page 18

5
Learn how to change options
Find out how to change where your super is invested (and what you need to think about
before you do). page 20

6 Keep track of your investments

Explore the easiest ways to make sure your investments are continuing to meet your needs. page 24

7 Return your investment choice form

Don’t want to make your choices online? Return this form instead. page 25

*
 ince inception to 30 June 2022. The Growth (MySuper) investment option return is based on the crediting rate, which is the
S
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.
Until 14 February 2022, Growth (MySuper) was called Growth (Cbus MySuper).

Investment handbook | 3
 1 Setting your goals

Retirement may seem like a long way off, but planning for it now can help you
change how you’ll live then. Before you make your investment choice, think
about what you really need from your super.

How much super will you need in retirement?

When you’re choosing your investments, it helps to think about the income you want in retirement and how you plan to make that happen.

Use the questions below to help you set your goals:

Step 1: Look at your life right now

■ How much income do you earn?
■ How many years until you retire?
■ What other investments or assets do you have?
■ Can you afford to make extra contributions into super?

Step 2: Think about how life is likely to look when you retire

Will you own your Will you have a spouse, Do you plan to travel, or Will you have other investments
home, and have paid off or family, to support? make any big purchases to provide your income such as:
your mortgage? (e.g. caravan)? ■ an investment property
■ bank savings or term deposits
■ shares or other investments?

Step 3: Calculate how much super you’ll need

■ You can use our Retirement income calculator to help you work out how much you may need, and check if the Age Pension plus your super
will give you enough income in retirement.
■ Use our Retirement spending planner to work out how long you’ll be able to sustain your current way of life, while still enjoying those little
extras in retirement.

cbussuper.com.au/calculators

4 | Investment handbook
 Will you live modestly or comfortably?
While your spending in retirement is likely to be less than you spend now, it can be hard to know exactly how much you need. So, this
simple guide could help.
The Association of Superannuation Funds of Australia (ASFA) Retirement Standard measures how much the average person needs to live
in retirement (in today’s dollars) based on a comfortable or more modest lifestyle. Does this sound like it could suit you?

Age 67 Age 85

For singles For singles

Modest retirement $30,063 a year $27,754 a year
Enjoy a modest lifestyle once you retire.
This could mean covering your living
expenses, a weekend away, and more
For couples For couples
time with family and friends.
$43,250 a year $39,788 a year
For singles For singles

Comfortable retirement $47,383 a year $43,996 a year

Enjoy a comfortable lifestyle once you
retire. This could mean regular holidays,
dining out and recreational activities. For couples For couples
$66,725 a year $61,108 a year

Source: Lifestyle at 65: ASFA Retirement Standard figures June quarter 2022 – visit superannuation.asn.au for more details.

Life gets more expensive over time Inflation and your super
Put simply, the rising costs of living (called inflation) make the value
Have you noticed the price of everyday goods and services seems to
of money worth less as time goes on. Imagine you were retiring at
increase every year? It helps to keep in mind that thanks to inflation,
the age of 65 with $300,000 in super; in 2022 this could be enough
the things you buy and activities you enjoy could also cost a lot more to support your basic needs and lifestyle. But if your retirement is
by retirement! expected to last for the next 30 years, this $300,000 will not be able
to do as much in 2052 as it could in 2022 and beyond.

Here’s how a few of life’s staples could change: This is why having an inflation component built into the returns of
your super is very important. In other words, you need to aim for a
return of inflation plus some extra on top of that.
Each investment option has an investment objective, with the
Pre-mixed options including an inflation component. This helps you
see what sort of long-term return you can expect above inflation.
Keep in mind that inflation is measured using a variety of different
items and changes from year to year.
So, it’s important to check your investment strategy as your
2022 $4.50 $1.60 $6.00 retirement needs and timeframe change.
2052 $9.44 $3.15 $12.59
The Age Pension could provide
Assumptions: 2.5% per year rise in the cost of living (inflation).
extra income
If you’re eligible for the Age Pension when you retire, some of your
spending needs will be covered by the income it provides. To see the
current Age Pension payment rates visit servicesaustralia.gov.au.

Investment handbook | 5
1 Setting your goals (continued)

How to reach your target

Do you have a gap between what you want and what you’ve got? The
amount of super you have at retirement will depend on three key things:

1. How much you 2. Your super’s 3. How many years

contribute investment return you have until retirement
Pay more into super and you could save The higher your investment returns, The longer you have, the more your
on tax – and save more for your future. the more your super will grow. super can grow over time.
There are a range of ways you can All investments involve some risk – You receive returns on both your contributions
contribute to your super, and you and higher returns generally come with and the returns you’ve already earned.
might even qualify for an extra boost higher risks. But make sure this doesn’t So your super account can get
from the government. distract you from one of the biggest risks of bigger and bigger as it continues to grow
Find the best approach for you at all: not having enough for retirement. over longer periods.
cbussuper.com.au/boostsuper. See page 10 for details. See page 10 for details.

Need help with your super?

Talk to your Cbus Coordinator
Cbus Coordinators are in every state and territory, ready to answer your super questions.
They also hold regular workplace ‘toolbox’ sessions to help with your super.
Visit cbussuper.com.au/contact or call 1300 361 784 for the details of your local Cbus Coordinator.

Visit Cbus in person

The Cbus Front Counter service is available to answer questions, complete forms, and provide general information.
Visit cbussuper.com.au/contact or call 1300 361 784 for a list of locations across Australia.

Speak to an adviser over the phone

Our Advice Services team can give you advice on any super related topic, over the phone Monday to Friday, 8.30am
to 6pm (AEST/ AEDT). For further information call 1300 361 784.
This service is provided at no extra cost.

Meet with a financial planner

For more comprehensive personal financial advice we can refer you to an accredited CERTIFIED FINANCIAL PLANNER
(CFP®) who meets strict professional qualification and service criteria set by Cbus and the Financial Planning
Association (FPA) of Australia. The financial planner can offer you advice on a fee-for-service basis. Your first meeting
is at no cost and any fees for advice will be agreed with you in advance.
Under the Financial Planner Payment Program, you may be eligible to have your advice fees deducted from your Cbus
Super account. The Financial Planner Payment is only eligible to be deducted from your super if it is personal financial
advice that relates to your interest in Cbus and the advice must be provided by a CERTIFIED FINANCIAL PLANNER
(CFP®) who is part of the FPA Member Referral Program. Call Cbus on 1300 361 784.

CFP® and CERTIFIED FINANCIAL PLANNER® are certification marks owned outside the U.S. by Financial Planning Standards Board Ltd. (FPSB). Financial Planning
Association of Australia Limited is the marks licensing authority for the CFP Marks in Australia, through agreement with FPSB.

6 | Investment handbook
 2 Investment basics

The investment decisions you make today can make a big difference to the
amount of super you retire with. Learning the basics of investing will help you
make better decisions now and in the future.

Understanding investment risk

To build your wealth over the long term, you need to take some risk.
Different types of investments carry different levels of risk, depending on the type of assets that you are invested in and the timeframe.
Generally, the more risk you take with your investments, the greater the potential for higher long-term returns. The lower the risk you
take, the lower the likely long-term return.
There are quite a few investment risks and they can affect your super in different ways. Some common investment risk examples are
below. To learn more read the Understanding risk fact sheet at cbussuper.com.au/cs/risk-factsheet.

Market risk Volatility risk Inflation risk

The risk that your savings will lose value The amount of variability in returns The risk that your investments don’t
when investment markets fall in value. (both up and down) causing your account keep up with increases in prices of things
balance to rise or fall. you need to live, and you can no longer
buy as much as you once could.

Drawdown risk Longevity risk Regulatory risk

The risk that your income stream The risk that you outlive your savings. The risk that regulations around
payments are higher than your income streams and government
investment returns. entitlements such as Centrelink change.

Diversification: Don’t put all your eggs in one basket

By investing across a wide range of asset types, the risk of a big fall in your account value is reduced. This is called diversifying your
investments.
Diversification works because not all asset types perform in the same way at the same time – when one investment is performing
poorly another may be performing well.

Investment handbook | 7
2 Investment basics (continued)

Asset classes – your investment building blocks

Asset classes are the building blocks of Cbus’ suite of investment options. How much we invest in each asset class depends on each option’s
investment objective. Every option has a different mix of asset classes and different amounts in each asset class.

Investments in these asset classes are managed by the Emerging market shares
Cbus Investments team and external fund managers. For
more information on asset classes and our investment Emerging markets represent the up-and-coming economies of Asia,
managers visit cbussuper.com.au/investments. Africa, the Middle East, South America and Eastern Europe.
While emerging markets tend to be more volatile than developed
markets, favourable returns are expected over the long term,
Australian shares partly driven by the improving standard of living in these developing
economies.
Australian shares are investments in companies listed on the Examples of emerging market shares include Samsung Electronics
Australian Securities Exchange. Shares allow you to participate and Alibaba.
alongside other owners in a company's future success. Shares are
sometimes called equities, securities or stocks.
Property
Returns from Australian shares come from a combination of dividend
income and movement in share prices, also known as capital gains Cbus invests in unlisted property through our wholly owned subsidiary
(or losses). company Cbus Property (see page 18) and pooled property funds. We
Examples of listed Australian companies include Woolworths, the big may also invest in other investment structures.
four banks, Seek, JB Hi-Fi and Reece. Our investments provide exposure to existing buildings, property
Cbus can use external managers that are permitted to invest a development projects and land held for development. Returns
component of their portfolio in international shares. Any international from unlisted property are primarily from rental income along with
shares holding is expected to be small. capital growth.
These investments cover a range of property sectors including office,
retail, industrial, residential, and alternative assets (e.g. multi family,
Global shares storage, education, and health care). The majority of unlisted property
investments are in Australia.
Global shares are investments in companies listed on a range of stock Cbus also invests into Global Listed Real Estate Investment Trusts
exchanges around the world. These companies operate across a broad (GREITs) where returns come from both dividend income and
range of largely developed, but also emerging countries. movements in the value of the securities.
Returns from global shares come from a combination of dividend The property asset class has a strategic asset allocation of 15% in
income and capital gains (or losses) plus any currency impact owing GREITs and 85% in unlisted property. This differs from the DIY Property
to the movement in the Australian dollar. Examples of global shares option, which has a strategic asset allocation of 47.5% in GREITs,
include Amazon, Apple and Microsoft. 47.5% in unlisted property and 5% in cash.
Examples of direct property investments include Collins Arch in
Melbourne and 1 William Street in Brisbane.
Private equity

Private equity is an investment in companies that are (mostly) not Understanding Global Real Estate
listed on a stock exchange. Investment Trusts
While some of these are large, they are typically small to medium sized
Real Estate Investment Trusts (REITs) group together a range
companies that are well established and generate a profit. The types of property assets/types into one investment vehicle that is
of companies reflect a range of activities found in the economy and are listed and publicly traded on various stock exchanges, with the
bought with the aim of increasing their value before being sold. majority of REITs being traded on US, UK, Singapore, Hong Kong
Cbus has investments in pooled investment funds that invest in and Australian stock exchanges.
Australian and global private equity, as well as exposure to investments Collectively, we refer to REITs listed around the world as Global Real
alongside pooled investment funds and agribusiness assets. Estate Investment Trusts (GREITs). This includes Australian REITs
(AREITs) which focus on the ownership of real estate in Australia.
GREITs are easier and cheaper to buy and sell than investing in
a single property and can be purchased and sold at any time,
just like shares in any publicly listed company. Income received
from the underlying property assets that are owned by GREITs
is distributed to REIT shareholders in the form of dividends.
Some GREITs also undertake development and manage funds in
addition to owning buildings.

8 | Investment handbook
 Alternative growth Australian fixed interest

Seeks to achieve returns from a range of growth and defensive Australian fixed interest investments typically involve lending
investments, with an emphasis on strategies that provide money to either Australian governments or government-related
diversification benefits. Investments often have a low sensitivity organisations at a fixed rate.
to equity markets and interest rate risks.
In general, returns from fixed interest mainly reflect interest income
The asset class may include opportunities across a range of different over the term of the loan.
markets and securities, such as shares, fixed interest and credit,
This asset class is expected to provide stable returns when markets
venture capital, currency and real assets.
are volatile.
There is also an allocation to invest in climate related opportunities,
which is aligned with our approach to responsible investment. These
opportunities can be across areas such as shares, credit, private equity Global fixed interest
and infrastructure.
Derivative-based strategies may also be used to generate additional Global fixed interest investments typically involve lending money
returns. to governments in developed countries at a fixed rate. In general,
returns from fixed interest mainly reflect interest income over the
term of the loan.
Infrastructure This asset class is expected to provide stable returns when markets
are volatile.
Cbus invests in unlisted companies and unit trusts that hold
interests in a variety of infrastructure assets. Infrastructure includes
assets that provide essential services, such as airports, seaports, Enhanced income
toll roads, energy generation and transmission, water utilities and
telecommunications. While expected returns from infrastructure Includes investments in Australian and global investment grade credit
assets vary, they are generally from a combination of cash securities, such as corporate and securitised.
distributions and capital growth, with less volatility than shares.
This asset class has a more defensive profile with a focus on liquidity.
Cbus also invests in global listed infrastructure securities where This is expected to result in lower volatility and lower returns over the
returns come from a combination of dividends and movements in long term when compared to other asset classes.
share prices.
Examples of infrastructure assets include Melbourne Airport and
NSW Ports. Cash

Cash investments typically include bank deposits, money market

Global credit investments, term deposits, and short-term debt securities.

Invests in credit, both investment grade and sub investment Please note the Cash option includes a 50% allocation with the
grade, within Australia and overseas. It can invest across a range of Australia and New Zealand Banking Group Limited (ANZ).
instruments such as bonds, loans, structured credit, and other debt
instruments. Lending to corporations may also include infrastructure
debt and property construction debt. Diversified exposure to global
credit markets provides sources of return that are complementary to
other asset classes.
The asset class is expected to provide moderate returns over the
long term, with less volatility than shares.

Investment handbook | 9
2 Investment basics (continued)

Growth vs protection – get the balance right

Before selecting an investment option, you need to decide how much risk you’re willing to take on. To help you understand this, asset classes
(the building blocks of investment options) have a weighting to growth and defensive assets:

Defensive Asset classes that are classified as defensive are less risky and Example: A Government bond which has an
typically generate consistent but lower returns. agreed interest rate over a period of time.
Returns generally come from income rather than the growth or
gains in the value of the asset. Think of it like the rental income of
an apartment, rather than the value of the property increasing.

Growth Asset classes that are classified as growth can expect higher returns Example: Australian shares go up and down
over a long period of time with ups and downs along the way. based on the performance of the business
and general market supply and demand.
Returns generally come from both the increase in the investment’s
Many Australian shares also receive dividend
value and the income earned. Think of it like the value of a property
payments.
increasing.

A mix of There are some asset classes that are a mix of growth and defensive. Example: We view our unlisted
defensive and infrastructure, unlisted property and
global credit classes as being a 50/50 split
growth
between growth and defensive.

Understanding your investment timeframe

Use the timeline below to think about how long you have to invest and
how this could influence your investment choices.
Don't forget that even once you retire, you may need to take some investment risk to help your savings continue to grow and keep ahead of
the rising costs of living.

10 to 30+ years 5 to 10 years 0 to 5 years

to retirement to retirement to retirement

Maximise growth Steady growth Cautious growth

You have time to ride out any You’re getting close to You’ve retired (or are about
ups and down in performance retirement, with less time to to) and will need access to
so now’s the time to maximise recover from market drops. your super. Now’s the time to
your super’s growth. You might want to think about balance the need for growth
adding some more defensive with the need to protect your
assets to your mix. short-term income.

Age 21 Age 50 Age 60

Age now (if planning to retire at age 60)

10 | Investment handbook
Returns are calculated using crediting rates For detailed information on crediting rates, read the Crediting
rates fact sheet and check daily crediting rates on our website at
Crediting rates are the earnings of your investment after investment cbussuper.com.au/investments. The annual crediting rates for
fees and taxes are deducted. Crediting rates can be positive or each option are also shown in Cbus News and the Annual Report.
negative as investment markets and asset values fluctuate and are
reported as a percentage.
What happens when you switch
We calculate crediting rates for all investment options each business
day, and these are published on our website from 11.59pm the investment options?
following business day. Short-term drops in your super can be uncomfortable, but ups and
downs are a normal part of investing.
Investment earnings are applied at 30 June each year
Daily crediting rates are used to provide you with an estimated Ups and downs in performance are a normal part
account balance. It is important to note that your quoted online of investing. That’s why it pays to focus on your
account balance is an estimate only, using the latest declared long-term goals.
crediting rate. Before you change options read the checklist on
For example, if you log into your online account on 10 June 2023, page 20 and the FAQs on page 23.
your estimated account balance shown will be an estimate of the
investment earnings based on the period of 1 July 2022 to 8 June When markets recover, which can sometimes happen quickly,
2023 and it will reflect any transactions that have occurred in your members who have switched to more conservative options when
account for the same period. Transactions can include contributions, markets started to fall may miss out on the recovery. This can have a
withdrawals, fees, insurance premiums or taxes. significant impact on the long-term value of your account.
Actual investment earnings are applied to your account effective The example below shows what can happen over the longer term if
30 June each year (or when you change investment options, you switch when markets fall.
make a partial withdrawal or close your account) and can be
positive or negative. If you're thinking about changing investments based
Investment earnings calculated for your account over the financial on what's happening in the market, we recommend
year are based on each individual daily declared crediting rate and speaking to a financial adviser first. You can call our
the daily balance of your account at that point in time, not your final Advice Services team on 1300 361 784 for advice at no
account balance at 30 June. extra cost.

The potential long-term impacts of switching investment options

Amanda's super was invested in the Growth (MySuper) option in 2008. Here's what would have happened if she'd
switched to the Cash or Conservative option during the Global Financial Crisis.
Amanda would have been up to $158,356 better off if she'd stuck with the Growth (MySuper) option, compared to
if she had switched to the Cash option, even with the additional market turbulence experienced since 2020 from the
Covid-19 pandemic and the Russia/Ukraine conflict.

First invested in the Growth (MySuper) option – switched with $100,000 balance during the Global Financial Crisis
$350,000

$300,000 $289,299 (+189.3%)

Stayed in Growth (MySuper)
$250,000

$200,000
$198,656 (+98.7%)
Switched to Conservative
$150,000
$130,943 (+30.9%)
$100,000 Switched to Cash

$50,000

$0
2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022

* These figures are for illustration purposes only and are 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 deducted directly from members' accounts.
Calculations are based on historical crediting rates from 30 June 2008 to 30 June 2022, switching on 31 March 2009 with a super account balance of
$100,000. Past performance is not a reliable indicator of future performance.

Investment handbook | 11
 3 Compare your
investment options

We offer a range of different investment options that cater to a variety of

investment goals.
Investment options: your investment portfolio
Most members are invested in the default Growth (MySuper) option. But if you'd like to make your own investment choice, we offer a range of
options that you can mix and match, depending on how hands-on you want to be with your super.

Pre-mixed options DIY options Self managed option

Level: Beginner Level: Advanced Level: Expert

Effort: Review your Effort: Take at least several afternoons Effort: Take at least an afternoon
choices at least once a year a year to review your choices a month to review your choices

The Pre-mixed options let you leave With the DIY options you can be more The Cbus Self Managed option gives
the investment decisions to the Cbus involved with choosing and managing you greater choice and more control
Investment Team. your investments. over how your savings are invested.
You decide which out of our six If you want greater exposure to some You can choose to build an entire
Pre-mixed investment options best suit of the investments that make up our portfolio of investments, or invest just
your risk appetite and retirement goals. diversified options, such as Australian a portion of your savings in:
We'll actively manage these options, Shares or Property, you have the option ■ the largest 300 Australian
making changes to the allocation to the to invest directly in these options. companies on the ASX
different asset classes in response to Keep in mind that as you're investing in
■ exchange traded funds (ETFs)
what's happening in markets. a single asset class, these DIY options
■ term deposits from NAB and ME
While these options don't require much aren't as diversified as the Pre-mixed
■ managed investments including
involvement, it's important to check in options. So, be careful that you're not property and infrastructure.
on them when your retirement goals putting all of your eggs in one basket Read the guide at cbussuper.com.au/
and stage of life change. (see page 7). cbusselfmanaged to learn more.

Expected risk and return

The chart below shows Cbus’ Pre-mixed High

High

and DIY investment options and their: Growth Growth

Growth
■ growth vs defensive asset split (MySuper)
Plus
■ level of expected risk and return. Australian
Shares

Property
Overseas
Conservative Shares
Expected return

Conservative Indexed
Growth Diversified

Diversified
Fixed Interest

Cash

Growth asset split

Defensive asset split
Low

Low Expected risk High

12 | Investment handbook
It’s important to understand each option and if they suit your investment
timeframe and risk and return requirements.
Your guide to reading the investment option information
Very High Growth

Growth (MySuper)
LOW HIGH

This is the default investment

High Growth
option.
This option may suit members who can accept some
A short summary of the years when returns are negative, but who expect that
investment option. over the long term, returns will be well above inflation.
Growth (MySuper)LOW was called Growth
HIGH (Cbus MySuper)

until 14 February 2022.

Risk / return
Growth level How risky this option is. Ranges
from 1 (very low risk) to 7 (very
high risk). This is an industry
wide Standard Risk Measure,
LOW HIGH
which is based on the number
Medium to High (5) of expected negative annual
Conservative Growth
returns over a 20-year period.
Investment return objective
What the expected return of
the option is over a 10-year Deliver a return of inflation plus:
period. Some options take into 3.25% a year over rolling 10-year periods
How the option is invested
LOW HIGH

account inflation. Growth / defensive split

between growth assets (higher
72/28
Conservative
risk / higher return like shares)
Over a 20-year period, how Likelihood of negative annual returns and defensive assets (lower risk
likely and how often this option / lower returns like cash).
3 to 4 in every 20 years
could experience a negative LOW HIGH

annual return. Strategic Asset Allocation (SAA) and Range

Cash Saving

LOW HIGH

What the option invests in.

The Strategic Asset Allocation
Strategic Asset Allocation % Range %
Australian shares 22.0 5.0 – 38.0 provides guidance on how
Global shares 25.5 7.0 – 39.0 much Cbus invests in different
Emerging market shares 2.5 0.0 – 16.5
Private equity
types of assets. The Range is
3.0 0.0 – 12.0
Alternative growth 3.0 0.0 – 13.0 the minimum and maximum
Infrastructure 13.0 0.0 – 28.0 for each asset class. The
Property 12.0 0.0 – 28.0
Global credit 7.0 0.0 – 17.0
Cbus investment team can
Australian fixed interest 4.0 0.0 – 23.0 change actual allocations
Global fixed Interest 4.0 0.0 – 23.0 to reflect what’s happening
Cash 4.0 1.0 – 18.0
in investment markets to
Average annual return to 30 June 2022 maximise returns for members.
How the option has performed For an explanation, see page 18.
Since inception
10yrs 5yrs 1yr
in the past. Returns are to the (01/07/1984)
8.88% 8.96% 6.55% -3.77%
end of last financial year.
Minimum investment timeframe
The recommended minimum
7+ years period that this option should
Estimated investment fees & costs be invested in for.
The investment fees and (including transaction costs)
costs for the option. The 0.65%
figures shown are estimates ($65pa if $10,000 was invested)
and may change.
Read the full details of each option on pages 14 to 17.

Investment handbook | 13
Pre-mixed options
Default
Very High Growth

High Growth Growth Plus Growth (MySuper)

LOW HIGH

This option may suit members seeking the highest This option may suit members seeking higher returns This is the default investment option.
High Growth
returns over the long term, and who can accept more over the long term, and who can accept some years This option may suit members who can accept some
years of negative returns.
Very High Growth of negative returns. Very High Growth years when returns are negative, but who expect that
over the long term, returns will be well above inflation.
Growth (MySuper)LOW was called Growth
HIGH
(Cbus MySuper)
until 14 February 2022.
LOW HIGH LOW HIGH

High Growth
RiskHigh
/ return
Growth
level Growth

LOW HIGH LOW HIGH LOW HIGH

High (6) High (6) Medium to High (5)

Conservative Growth
Growth Growth
Investment return objective
Deliver a return of inflation plus: Deliver a return of inflation plus: Deliver a return of inflation plus:
3.75% over rolling 10-year periods 3.50% a year over rolling 10-year periods 3.25% a year over rolling 10-year periods
LOW HIGH
LOW HIGH LOW HIGH
Growth / defensive split
Conservative
90/10Growth
Conservative 82/18Growth
Conservative 72/28

Likelihood of negative annual returns

5 to 6 in every 20 years 4 to 5 in every 20 years 3 to 4 in every 20 years
LOW HIGH
LOW HIGH LOW HIGH

Strategic Asset Allocation (SAA) and Range

Cash Saving
Conservative Conservative

LOW HIGH
LOW HIGH LOW HIGH

Cash Saving Cash Saving

Strategic Asset Allocation % Range % Strategic Asset Allocation % Range % Strategic Asset Allocation % Range %
Australian shares 31.5 15.0 – 48.5 A  ustralian shares 27.0 10.0 – 45.0 Australian shares 22.0 5.0 – 38.0
Global shares 36.5 17.0 – 50.0 Global shares 31.5 10.0 – 45.0 Global shares 25.5 7.0 – 39.0
Emerging market shares 3.5 0.0 – 19.0 Emerging market shares 3.0 0.0 – 19.0 Emerging market shares 2.5 0.0 – 16.5
Private equity LOW HIGH 4.5 0.0 – 13.0  rivate equity LOW
P HIGH 3.5 0.0 – 13.0 Private equity 3.0 0.0 – 12.0
Alternative growth 6.0 0.0 – 17.0 Alternative growth 5.0 0.0 – 13.0 Alternative growth 3.0 0.0 – 13.0
Infrastructure 8.0 0.0 – 23.0 Infrastructure 10.5 0.0 – 28.0 Infrastructure 13.0 0.0 – 28.0
Property* 8.0 0.0 – 23.0 Property* 10.0 0.0 – 28.0 Property* 12.0 0.0 – 28.0
Global credit 0.0 0.0 – 10.0 Global credit 3.5 0.0 – 17.0 Global credit 7.0 0.0 – 17.0
Australian fixed interest 0.0 0.0 – 10.0 Australian fixed interest 2.0 0.0 – 15.0 Australian fixed interest 4.0 0.0 – 23.0
Global fixed interest 0.0 0.0 – 10.0 Global fixed interest 2.0 0.0 – 15.0 Global fixed interest 4.0 0.0 – 23.0
Cash 2.0 0.0 – 10.0 Cash 2.0 0.0 – 15.0 Cash 4.0 1.0 – 18.0

Average annual return to 30 June 2022†

Since inception Since inception Since inception
10yrs 5yrs 1yr 10yrs 5yrs 1yr 10yrs 5yrs 1yr
(01/01/1998) (14/02/2022) (01/07/1984)
7.43% 10.47% 7.74% -5.85% -5.76% n/a n/a n/a 8.88% 8.96% 6.55% -3.77%

Minimum investment timeframe

10+ years 10+ years 7+ years

Estimated investment fees & costs (including transaction costs) ‡

0.66% 0.69% 0.65%

($66pa if $10,000 was invested) ($69pa if $10,000 was invested) ($65pa if $10,000 was invested)

*
Made up of 85% unlisted property and 15% Global Real Estate Investment Trusts (GREITs).
The average annual return is based on the crediting rate, which is returns minus investment fees, taxes and until
† 
Investment warning
31 January 2020, the percentage-based administration fee. Excludes administration fees and insurance costs.
Investment returns can go up and down.
Investment fees and costs are deducted from returns before they're credited to member accounts, and are
‡
Past performance is not a reliable
calculated each year in arrears. The figures shown are estimates based on expenses for the previous financial year
and may change. They include an amount for performance fees based on the average performance fees for the indicator of future performance. Visit
five years to 30 June 2022. The calculation basis for this amount is set out in the Additional explanation of fees and cbussuper.com.au/investments to check if
costs at cbussuper.com.au/fees. They also include transaction costs. The actual fees will be determined at the these figures have changed since publication.
end of the financial year and published in your 30 June statement.

14 | Investment handbook
 LOW HIGH

High Growth
Very High Growth

Pre-mixed options LOW HIGH

LOW HIGH

High Growth
Growth

Indexed Diversified Conservative Growth Conservative

LOW HIGH
LOW HIGH

This option may suit members looking for an option This option may suit members who can accept some This option may suit members who can accept lower
that invests in a mix of assets that aim to closely years when returns are negative,
Growth but who expect that returns on the basisConservative
that negative
Growthreturns will be
match index returns with Very a focus
High on keeping costs low.
Growth over the long term, returns will be above inflation. limited.
Returns are expected to be above inflation, but will
also have an increased chance of negative returns.
It invests in shares, fixed interest and cash.* LOW HIGH LOW HIGH

LOW HIGH

High Growth
Risk / return level
Conservative Growth Conservative

LOW HIGH LOW HIGH LOW HIGH

High (6) Medium (4) Low to Medium (3)

Conservative Cash Saving
Growth
Investment return objective
Deliver a return of inflation plus: Deliver a return of inflation plus: Deliver a return of inflation plus:
2.25% a year over rolling 10-year periods 2.25% a year over rolling 10-year periods 1.00% a year over rolling 10-year periods
LOW HIGH LOW HIGH
LOW HIGH
Growth / defensive split
70/30Growth
Conservative 52/48
Cash Saving 31/69

Likelihood of negative annual returns

5 to 6 in every 20 years 2 to 3 in every 20 years 1 to 2 in every 20 years
LOW HIGH
LOW HIGH

Strategic Asset Allocation (SAA) and Range

Conservative

LOW HIGH

Cash Saving
Strategic Asset Allocation % Range % Strategic Asset Allocation % Range % Strategic Asset Allocation % Range %
Australian shares 30.0 15.0 – 55.0 Australian shares 15.5 1.0 – 31.0 Australian shares 8.0 0.0 – 18.0
Global shares 40.0 20.0 – 60.0 Global shares 18.0 0.5 – 32.0 Global shares 9.5 0.0 – 18.5
Emerging market shares 0.0 0.0 – 10.0 Emerging market shares 2.0 0.0 – 14.0 Emerging market shares 0.0 0.0 – 9.5
Australian fixed interest
LOW HIGH 11.0 0.0 – 40.0 Private equity 0.0 0.0 – 10.0 Private equity 0.0 0.0 – 7.5
Global fixed interest 11.0 0.0 – 40.0 Alternative growth 2.5 0.0 – 12.5 Alternative growth 2.0 0.0 – 9.5
Cash 8.0 1.0 – 40.0 Infrastructure 10.0 0.0 – 25.0 Infrastructure 7.0 0.0 – 17.0
Property† 9.0 0.0 – 25.0 Property† 6.5 0.0 – 17.0
Global credit 8.0 0.0 – 18.0 Global credit 9.0 0.0 – 16.5
Australian fixed interest 8.5 0.0 – 47.0 Australian fixed interest 14.25 0.0 – 58.5
Global fixed interest 8.5 0.0 – 47.0 Global fixed interest 14.25 0.0 – 58.5
Enhanced income 7.5 0.0 – 47.0 Enhanced income 10.0 0.0 – 59.0
Cash 10.5 0.0 – 47.0 Cash 19.5 0.0 – 59.0

Average annual return to 30 June 2022‡

Since inception Since inception Since inception
10yrs 5yrs 1yr 10yrs 5yrs§ 1yr 10yrs 5yrs 1yr
(14/02/2022) (01/07/2017) (01/10/1999)
-8.18% n/a n/a n/a 4.82% n/a n/a -4.17% 5.53% 5.01% 3.38% -3.82%

Minimum investment timeframe

10+ years 4+ years 3+ years

Estimated investment fees & costs (including transaction costs) #

0.13% 0.49% 0.37%

($13pa if $10,000 was invested) ($49pa if $10,000 was invested) ($37pa if $10,000 was invested)

*
 or this option shares comprise Australian and developed market global shares, and fixed interest comprises Australian and global government bonds and corporate credit.
F
†
Made up of 85% unlisted property and 15% Global Real Estate Investment Trusts (GREITs).
The average annual return is based on the crediting rate, which is returns minus investment fees, taxes and until 31 January 2020, the percentage-based administration fee.
‡

Excludes administration fees and insurance costs.

The Conservative Growth investment option has been available since 1 July 2017. The first crediting rate for the investment option was for the period commencing
§

6 July 2017. Therefore, crediting rate information for longer time periods is not applicable.
#
Investment fees and costs are deducted from returns before they're credited to member accounts, and are calculated each year in arrears. The figures shown are estimates
based on expenses for the previous financial year and may change. They include an amount for performance fees based on the average performance fees for the five years
to 30 June 2022. The calculation basis for this amount is set out in the Additional explanation of fees and costs at cbussuper.com.au/fees. They also include transaction costs.
The actual fees will be determined at the end of the financial year and published in your 30 June statement.

Investment handbook | 15
DIY options

Overseas Shares Australian Shares Property

This option may suit members looking to invest in a This option may suit members looking to invest in a This option may suit members looking to invest in
range of overseas shares. range of Australian shares. property assets.
This option aims to deliver strong capital growth This option aims to deliver strong capital growth It invests in unlisted property and Global Listed Real
over the longer term but has a higher expectation of over the longer term but has a higher expectation of Estate Investment Trusts (GREITs).
Very High Growth

negative returns. negative returns.

LOW HIGH

Very High Growth

RiskVery
/ return level
High Growth High Growth

LOW HIGH LOW HIGH LOW HIGH

Very High (7)

High Growth Very High (7)
High Growth High (6)
Growth
Investment return objective
Deliver a return above the MSCI All Country World ex Deliver a return above the S&P/ASX 300 Deliver a return of inflation plus:
Australia Index (unhedged)
LOW
after fees
HIGH
and adjusted for Accumulation Index
LOW
after feesHIGH
and adjusted for 2.50% after fees and tax, over rolling 10-year periods
implied super tax, over rolling 10-year periods implied super tax, over rolling 10-year periods LOW HIGH

Growth Growth / defensive

Growth split
Conservative Growth
100/0 100/0 71/29

Likelihood of negative annual returns

LOW HIGH LOW HIGH

6 to 7 in every 20 years 6 to 7 in every 20 years 4 to 5 in every 20 years

LOW HIGH

Conservative Growth Conservative Growth

Strategic Asset Allocation (SAA) and Range
Conservative

LOW HIGH LOW HIGH

LOW HIGH

Conservative Conservative
Cash Saving

Strategic Asset Allocation % Range % Strategic Asset Allocation % Range % Strategic Asset Allocation % Range %
Global shares 100.0 90.0 – 100.0  ustralian shares
A 100.0 90.0 – 100.0 Unlisted property 47.5 0.0 – 85.0
Cash LOW HIGH
0.0 0.0 – 10.0 Cash LOW HIGH
0.0 0.0 – 10.0 GREITs 47.5 15.0 – 100.0
Cash LOW HIGH
5.0 2.0 – 30.0
Cash Saving Cash Saving

LOW HIGH Average annual return to 30 June 2022*

LOW HIGH

Since inception Since inception Since inception

10yrs 5yrs 1yr 10yrs 5yrs 1yr 10yrs 5yrs 1yr
(14/02/2022) (14/02/2022) (14/02/2022)
-12.52% n/a n/a n/a -7.85% n/a n/a n/a -1.38% n/a n/a n/a

Minimum investment timeframe

10+ years 10+ years 10+ years

Estimated investment fees & costs (including transaction costs)†

0.34% 0.61% 1.00%
($34pa if $10,000 was invested) ($61pa if $10,000 was invested) ($100pa if $10,000 was invested)

*
 he average annual return is based on the crediting rate, which is returns minus investment fees, taxes and until
T
31 January 2020, the percentage-based administration fee. Excludes administration fees and insurance costs. Investment warning
†
Investment fees and costs are deducted from returns before they're credited to member accounts, and are Investment returns can go up and down.
calculated each year in arrears. The figures shown are estimates based on expenses for the previous financial year Past performance is not a reliable
and may change. They include an amount for performance fees based on the average performance fees for the indicator of future performance. Visit
five years to 30 June 2022. The calculation basis for this amount is set out in the Additional explanation of fees and cbussuper.com.au/investments to check if
costs at cbussuper.com.au/fees. They also include transaction costs. The actual fees will be determined at the these figures have changed since publication.
end of the financial year and published in your 30 June statement.

16 | Investment handbook
 LOW HIGH

Growth
Very High Growth

DIY options LOW HIGH

LOW HIGH

High Growth
Conservative Growth

Diversified Fixed Interest Cash

LOW HIGH

This option may suit members looking to invest in This option may suit
LOW
members who HIGH
want to avoid
Australian and global fixed interest and global credit. negative returns (expected negative returns are
Growth negligible). Conservative

Returns over the long term are expected to be lower

than the other Cbus investment options.
Cash was called Cash Savings until 14 February 2022.
LOW HIGH LOW HIGH

Conservative Growth
Risk / return level Cash Saving

LOW HIGH LOW HIGH

Low to Medium (3) Very Low (1)

Conservative
Investment return objective
Deliver a return of inflation plus: Deliver a return aligned with the RBA cash rate
0.50% after fees and tax, over rolling 10-year periods after fees and adjusted for implied super tax
LOW HIGH

Growth / defensive split

Cash Saving

25/75 0/100

Likelihood of negative annual returns

1 to 2 in every 20 years
LOW HIGH
Negligible in 20 years

Strategic Asset Allocation (SAA) and Range

Strategic Asset Allocation % Range % Strategic Asset Allocation % Range %

Global credit 50.0 20.0 – 80.0 Cash* 100.0 n/a
Australian fixed interest 25.0 0.0 – 50.0
Global fixed interest 25.0 0.0 – 50.0

Average annual return to 30 June 2022†

Since inception Since inception
10yrs 5yrs 1yr 10yrs 5yrs 1yr
(14/02/2022) (01/04/2009)
-5.25% n/a n/a n/a 2.00% 1.47% 0.86% 0.21%

Minimum investment timeframe

3+ years 1+ years

Estimated investment fees & costs (including transaction costs)‡

0.22% 0.04%
($22pa if $10,000 was invested) ($4pa if $10,000 was invested)

*
 his option may have deposits with banks and includes a 50% allocation with the Australia and New Zealand Banking Group Limited (ANZ).
T
†
The average annual return is based on the crediting rate, which is returns minus investment fees, taxes and until 31 January 2020, the percentage-based administration fee.
Excludes administration fees and insurance costs.
‡
Investment fees and costs are deducted from returns before they're credited to member accounts, and are calculated each year in arrears. The figures shown are estimates
based on expenses for the previous financial year and may change. They include an amount for performance fees based on the average performance fees for the five years
to 30 June 2022. The calculation basis for this amount is set out in the Additional explanation of fees and costs at cbussuper.com.au/fees. They also include transaction costs.
The actual fees will be determined at the end of the financial year and published in your 30 June statement.

Investment handbook | 17
 4 How Cbus invests
your super

Your super is invested by a team of experts with your best interests in mind.
As a responsible investor, we also incorporate environmental, social and
governance risks and opportunities in all investment decision making.

Our investment process External fund managers

As well as utilising our internal investment expertise, Cbus uses
Investment objectives and asset allocation Australian and international fund managers. Each fund manager is
We set a different investment objective for each investment option. responsible for managing the investment of a set amount of Cbus’
This gives you investment choices ranging from lower expected assets. They are managed in accordance with a mandate agreed
return and risk to a higher expected return and risk. between the manager and Cbus or in accordance with the fund's
We set an investment strategy and asset allocation we believe is governing documents. Cbus regularly monitors the performance
most likely to meet each option’s investment objective and in-depth of each fund manager.
modelling is undertaken on each asset type’s expected return and
risk, which helps set our investment strategy. Cbus Property
The Strategic Asset Allocation provides guidance for the portfolio Cbus Property Pty Ltd is a wholly-owned subsidiary of United Super
allocation over the medium to long term (10+ years) and is reviewed Pty Ltd and has responsibility for the development and management
annually. of Cbus’ direct property investments.
We may vary the strategic asset allocations and ranges from Cbus Property develops major projects across Australia including
time to time without prior notice. Please refer to our website office buildings, residential apartments and townhouses, hotels and
at cbussuper.com.au/investments for current strategic asset retail shopping precincts, allowing Cbus to invest in the construction,
allocations and ranges. building and allied industries where many of our members work.
We determine target portfolios for each investment option, taking Cbus Property invests and manages its portfolio in accordance with
into account the Strategic Asset Allocation and the actual and an Investment Management Agreement (IMA) with Cbus, which
prospective investment environment over the shorter term. In includes parameters around risk and return.
setting the target portfolios we seek to enhance performance
over time compared to the Strategic Asset Allocation. The target For more information visit cbusproperty.com.au.
portfolios are set within the minimum and maximum ranges for
each asset class.
Investment consultants
The actual asset allocation at any point in time may differ from their
Cbus will use external consultants as required to complement our
respective targets due to market movements, cash flows and other
internal research and analysis. Our main investment consultant is
activities. Actual asset allocations are regularly monitored by the
Frontier Advisors. Cbus is a part-owner of Frontier Advisors who are
investment team and rebalanced back towards target, or in line with
licensed by the Australian Securities and Investments Commission,
our views on opportunities and risks.
ABN 21 074 287 406 (AFSL 241266).

Our investment team

Cbus currently manage over 35% of our assets in-house including
hybrid strategies. The internalisation strategy and the investment
capability built by Cbus has reduced investment fees and costs for
members. Our internal capabilities enable us to make informed and
timely investment decisions, investing to maximise opportunities
and contribute to economic growth and returns for members.
Cbus currently has 19 internally managed strategies across a range of
asset classes such as Australian, global and emerging market shares,
infrastructure, and cash.

18 | Investment handbook
Responsible investment
Responsible investment means taking into account environmental,
social and governance (ESG) issues when making investment decisions.
As super is a long-term investment, we incorporate ESG considerations into decisions we make across our portfolio. We believe this is
not only in our members’ best financial interests to do so, but also what our members expect of us.

We apply a ‘whole of fund’ We aim to improve We collaborate We hold ourselves

approach company practices and advocate accountable

We take a whole-of-fund approach and do not offer a

stand-alone ethical or socially responsible investment option.
Climate change
Our whole-of-fund approach applies the same responsible We believe that climate change is one of the most significant
and sustainable principles regardless of whether investments challenges facing society today, creating both investment risks
are managed internally by the Cbus investment team or by an and opportunities. We have developed a position statement, and
external fund manager. our climate goals include achieving net-zero emissions across
the portfolio by 2050 and contributing to a 45% reduction in
Our approach considers how long-term ESG issues that
real world emissions by 2030. Our Climate Change Roadmap
we regard as ‘material’, or highly likely to affect business or
outlines the actions we are taking to address climate risks and
investment performance, are managed when making investment
opportunities. We monitor and report against the roadmap
decisions and choosing investment managers, companies and
annually in our Responsible Investment Supplement and update
assets. We then monitor ESG performance over time.
the roadmap every two years to ensure our actions move us
We have a dedicated Responsible Investment team who help us closer to our goals.
understand emerging ESG issues, develop methodologies for
applying ESG investment decision making, and provide analysis
to measure and support our approach.
Workplace safety
We consider the financial impacts that unsafe workplace practices
Investments in some companies gives us the right to vote at
can have on companies. Safety considerations form part of the due
annual general meetings (AGMs) and engage in discussions to
diligence process for relevant assets, risk committee reporting,
improve ESG practices and disclosures, so that the companies or
and our engagement with companies, which helps inform how we
assets we invest in are better run, less risky, and able to provide
vote at company AGMs. Not only is this important to understand
more sustainable returns for our members over the long term.
when making investment decisions, but it also supports our
Our approach to company engagement and voting is more active
members and the industries in which they operate.
in Australia where we have larger investments and better access
to companies.
We also undertake advocacy work with the primary aim of Human, community and labour rights
influencing standards, guidelines and regulatory reform to We report against the Modern Slavery Act, which aims to
increase our ability to identify, measure and mitigate ESG risks. increase business awareness of the risks of modern slavery in
We know that united action drives better outcomes, so we the production and supply chains of Australian goods and
collaborate with a range of different stakeholders – including services. We engage with likeminded investors and companies
our peers and key bodies – to achieve better engagement and about modern slavery risk management, and we co-chair the
advocacy outcomes. Australian Council of Superannuation Investors’ (ACSI) Rights
and Cultural Heritage Risk Management Working Group, which
Our Responsible Investment Policy details how we consider ESG aims to create tools for companies to improve cultural heritage
risks and opportunities in our investment decisions, and our and First Peoples engagement.
approach is guided by our Investment and Board Governance
frameworks. Each year, we publish the Responsible Investment
For more information on responsible investing
Supplement as part of our reporting suite for the Annual
including the Responsible Investment Supplement
Integrated Report, which details the activities that Cbus
undertakes each year to incorporate ESG considerations into and the Responsible Investment Policy, visit
our investment decision-making processes holistically. cbussuper.com.au/sustainability.

Investment handbook | 19
 5 Changing
investment options

You can choose to stay in the Growth (MySuper) option or change options.
Find out how to make your choice and what to consider before you do.

What to check before you change options

Changing your investments is one of the biggest decisions you can make about your super. Ask yourself these questions to make sure
you’re ready to make the switch.

Could you miss out on higher long-term returns?

Super is a long-term investment, and whether you choose a low risk/return or high risk/return option can have a big impact on the
money you retire with. As shown on page 11, if you’d held onto your $100,000 investment in the Growth (MySuper) option in 2009 –
you’d have an extra $158,356* compared to switching to Cash.

Do you have time to ride out short-term ups and downs?

Investment markets often rise and fall over the short term, but most members have time to ride out these ups and downs. Think
about your investment time frame and the future impact of making a change. If you keep changing options this may not benefit you
over the long run.

Will your investments keep up with the rising costs of living?

The price of goods and services increase over time (that’s inflation). So, what you can buy with $10 today is a lot more than what
you might be able to buy with that same $10 in 30 years’ time. Your super needs to grow at a higher rate than inflation. Otherwise,
you could be losing money without realising it!

Have you put all of your eggs in one basket?

Investing in a range of asset classes and regions reduces the impact that any one type has on your returns. That’s because if one of
your investments drops in value, another might make up for this loss.

Is this the right time to change options?

A good investment is one that you buy at a low price and sell at a high price. If you switch your investments after a fall, you’re selling
them when they’re at a low price and locking in that loss. Markets are hard to predict. We see a lot of members who don’t switch
back until after markets rebound. This means they miss the early pick up (which is often the strongest) and buy back at a high price.

Are you approaching retirement?

Switching to a lower risk option can be appealing to those close to retirement who have less time to recover from losses.
However, even if you’ve stopped working, your savings could be invested for another 20+ years. Around 60%† of your retirement
income usually comes from the returns you make in retirement, so if you focus on your long-term goals, you could benefit from
a lot of growth once you stop working.

Could this change impact some or all of your income stream tax refund?
If you use your Cbus account to start a Fully Retired income stream you could be eligible for a tax refund into your new account. This
refund is calculated based on how your super was invested in the year before you opened your new income stream. A change in the
last 12 months may impact some or all of your refund, so check with us before you switch!

Do you need advice? We can help at no extra cost

Don’t feel you have to make these decisions alone. Our Advice Services team can help you work through all the questions
you need to consider, before you change how your super’s invested. Call us on 1300 361 784 to get the ball rolling or visit
cbussuper.com.au/getadvice.

*
Past performance is not a reliable indicator of future performance.
†
Source: Russell Investment Group: 10/30/60 Rule.

20 | Investment handbook
Investment handbook | 21
5 Changing investment options (continued)

How to change your investment options

You can move your balance between Pre-mixed and DIY investment options at any time.

Make sure you chat to our Advice Services team before you change to make sure you’re aware of how this could affect your super.

Once you’re comfortable with your decision follow these easy steps

Step 1: Work out how much you want to put into your choice of options

Choose Choose Choose different options for

or or
one option multiple options your current and future balance
Put your total account Put a proportion of your Put your current account balance in
balance plus all future total account balance plus one option and either:
contributions into future contributions into ■ direct all future contributions into a
one investment option. two or more options. different option, or
■ put a proportion of future contributions
to two or more options.

The minimum amount you can change in each option is $1,000 unless you’re changing your entire balance.

Step 2: Submit your instructions online or using the form

Log into your account at cbussuper.com.au/login Fill in the Investment choice form at
or via the Cbus app (if you’re not registered you can OR the back of this handbook and post or
do that there too or call 1300 361 784). email it to Cbus.

How to choose the Cbus Self Managed option

To invest in the Cbus Self Managed option you need to register online and meet certain eligibility criteria. Read the Cbus Self Managed
investment guide available from cbussuper.com.au/cbusselfmanaged for more information.
For members who have a Cbus Self Managed account, both account balance switches and future contribution switches will be made
through the online platform.

22 | Investment handbook
FAQs about changing investment options What happens if I make more than one switch
in a day?
Where can I find the balance of my investment option/s? If you make more than one switch request in the same switching
You can log into your online account or the Cbus app to find your period (e.g. after 4pm one day and before 4pm the next) only the
estimated account balance. Balances shown are an estimate only and last valid switch request will be actioned.
delayed by two business days.
How is my account valued when I change investment
For more information on estimated balances, please read page 11 or options?
the How changing investment options impacts your balance fact sheet
at cbussuper.com.au/investments. Cbus invests in markets that operate across different time zones.
This means the balance available through your online account or via
the Cbus app is not a real time balance.
How quickly does it take for the switch to complete?
You can change investment options once a day (except on weekends Balances shown are delayed by two business days.
or public holidays). We accommodate the different closing times of international
If we receive your request before 4pm (AEST/AEDT) on a weekday, markets before we can reconcile all our holdings and their values prior
your change will be processed and effective from the start of the to calculating a crediting rate.
next national business day*. You’ll see this change reflected in your Once this is done, we can then calculate and apply the crediting rate to
account the following national business day. your investment option/s and provide you with an estimated balance.
If we receive your request at or after 4pm (or on a weekend or
public holiday if you’re switching online) your change will be Please note:
processed and effective two national business days after your ■ If you change your investment option during the year,
request is received. You’ll see this change reflected in your account earnings on the portion of funds you change (full or part) are
the following national business day. calculated on the investment options they are moving from
and added to the investment option you are moving to.
What happens once I submit my request? ■ When you claim part of your benefit during the year
Once you've submitted your request, we’ll let you know we’ve investment earnings are calculated and allocated to you on
received it and process it. You can also log into your account to the amount of the claim.
check it has been processed. ■ Otherwise earnings are applied at the end of the financial
year based on the options you’re invested in and the time the
How much will it cost? funds were invested.
There is no cost to change investment options. The fees and costs
to manage each investment option are explained on page 13 of
this handbook and in the investment section of our website. Visit Visit cbussuper.com.au/investments to find out:
cbussuper.com.au/super for more information on fees and costs. ■ how crediting rates work – read the Crediting rates
fact sheet.
Can I change lump sum contributions? ■ how all options have performed – this includes the
Members who transfer their balance from another super fund, or latest daily crediting rates.
make a personal contribution, can choose which option they invest
these funds into. The annual crediting rates for each option are shown in
Cbus News and the Annual Report.
For more information about directing lump sums straight into the
investment option of your choice, call us on 1300 361 784.

*
A national business day is a week day that is not a national public holiday or the NSW/VIC Queen's Birthday public holiday. Remember to allow for daylight
savings time in your location, where applicable.

Investment handbook | 23
 6 Keeping track of
your investment

Once you’ve chosen your investments, you should review them regularly to
make sure they continue to meet your needs.

Why it’s important to track your investment

Keep a close eye on your super so you can:

1 Track performance
Make sure fluctuations and returns are within the range you expected.

2 Stay on target
If you’ve matched your investments to your future needs, check your performance is on track to meet your goals.

3 Adjust when things change

Whenever your personal or financial situation changes significantly, check that your choices are still right for you.

How to stay up to date

Manage your investments on the go

The easiest way to manage your investment is through your online account. You can:
■ access your account details 24/7
■ check and change your investment options
■ get an estimated account balance, and much more.
Register for your online account at cbussuper.com.au/login or download the app at
cbussuper.com.au/app.

JOIN Find the latest investment and performance details

You’ll find crediting rates and other essential investment information at
cbussuper.com.au/investments.

Get regular updates

You’ll receive regular updates from us including:
■ Your annual statement – detailing your investment choices and performance.
■ Cbus News – a twice yearly update that includes an investment market update.
■ Annual Report – a yearly fund update which includes investment performance.

24 | Investment handbook
 Investment choice form
This form is part of the Investment handbook dated 30 September 2022.
Please use black or blue pen and CAPITAL letters. Use an X in boxes where required.

Important
How you invest your super is one of the most important investment decisions you will make. Please read the Investment handbook thoroughly.
If you have any queries, call us on 1300 361 784 or visit cbussuper.com.au.
We recommend you seek an up-to-date account balance estimate before you make any changes to your investment choice.

Step 1: Provide your personal details

Cbus member number
We need this to process your investment choice.
You can find this on your annual statement or membership card.
Title Date of birth Gender
Mr Mrs Miss Ms Other D D / M M / Y Y Y Y X Male X Female
Given name(s)

Family name

Home phone Work phone Mobile

( ) ( )
Address
Postal address Residential address

Street number / PO Box Street name

Suburb/town State Postcode

Email address (providing your email means you give permission for Cbus to use it)

Step 2: How would you like to invest your super?

Choose how much you want to invest in each option. Enter each amount in whole percentages (no decimal places). The minimum you can allocate is 1%.

Existing balance Future contributions

Choose how to invest your Choose how to invest
existing account balance any future contributions
paid into your account
Pre-mixed options
High Growth % % Cbus Self Managed
Growth Plus % %
Cbus Self Managed is an investment option that
Growth (MySuper) % % allows eligible Cbus members to invest their
Indexed Diversified % % super directly in a range of key asset classes.
To invest in Cbus Self Managed you need to
Conservative Growth % % register online and meet certain eligibility criteria.
For more information read the Cbus Self
Conservative % % Managed Investment Guide available from
DIY options cbussuper.com.au/cbusselfmanaged.

Overseas Shares % %
Australian Shares % %
Property % %
Diversified Fixed Interest % %
Cash % %
Total must add up to 100% 1 0 0 % 1 0 0 %

United Super Pty Ltd ABN 46 006 261 623 AFSL 233792 as Trustee for Cbus Super Fund ABN 75 493 363 262 offering Cbus and Media Super products. Page 1 of 2 1208.3 09-22 ISS16 Continues
 Step 3: Member declaration
■ I understand that I am responsible for my choice of investment option.
■ I understand Cbus is responsible for the strategic asset allocation and objectives for each investment option, and for choosing the
investment manager.
■ I have read the Investment handbook, and understand I can switch all, or part, of my account balance to another option free of charge.
■ I understand that I can switch future contributions at any time.
■ I understand the information on this form will be used by Cbus to process my investment choice.
■ If I return this form by email, I acknowledge and declare that I have read and accepted the terms and conditions of the Investment choice form
and I acknowledge that if I have not applied my physical or electronic signature:
– If Cbus is satisfied that this is a genuine application, Cbus will process the request, including making a payment from my account if I have
requested one.
– In some cases, Cbus may request more information to be satisfied this is a genuine application.

Member signature
Sign here: Date
D D / M M / 2 0 Y Y

Investment switches are processed on a daily basis. All switch requests must be received before 4pm* (AEST/AEDT) for the change to be effective
from the start of the next national business day. You’ll see this reflected in your account two national business days later. If we receive your request at
or after 4pm (or on a weekend or public holiday) your change will be processed and effective 2 business days after your request is received.
*Remember to allow for daylight savings time in your location, where applicable.

Privacy
Please refer to the Cbus Privacy Policy and Personal Information Collection Statement at cbussuper.com.au/privacy for details about how Cbus
collects and discloses personal information or contact us on 1300 361 784 for a copy.

Step 4: Give this form to Cbus

The completed form needs to be sent to Cbus by post or email:

Post to: Email to:

Cbus, Locked Bag 5056 [email protected]
Parramatta NSW 2124 Visit cbussuper.com.au/cs/id to learn how.

Cbus 1300 361 784 [email protected] Visit Cbus in person in Adelaide,

Locked Bag 5056 8am to 8pm (AEST/AEDT) cbussuper.com.au Brisbane, Melbourne, Perth and Sydney.
PARRAMATTA NSW 2124 Monday to Friday Log in to chat to us online Details: cbussuper.com.au/contact

United Super Pty Ltd ABN 46 006 261 623 AFSL 233792 as Trustee for Cbus Super Fund ABN 75 493 363 262 offering Cbus and Media Super products. Page 2 of 2 1208.3 09-22 ISS16
 Cbus achieves the highest ratings by the experts

The rating is issued by SuperRatings Pty Ltd ABN 95 100 192 283 AFSL 311880 (SuperRatings). Ratings are general advice only and have been prepared
without taking account of your objectives, financial situation or needs. Consider your personal circumstances, read the product disclosure statement
and seek independent financial advice before investing. The rating is not a recommendation to purchase, sell or hold any product. Past performance
information is not indicative of future performance. Ratings are subject to change without notice and SuperRatings assumes no obligation to update.
SuperRatings uses objective criteria and receives a fee for publishing awards. Visit superratings.com.au for ratings information and to access the full
report. © 2022 SuperRatings. All rights reserved.

Contact Cbus

Cbus 1300 361 784 [email protected] Visit Cbus in person in Adelaide,

Locked Bag 5056 8am to 8pm (AEST/AEDT) cbussuper.com.au Brisbane, Melbourne, Perth and Sydney.
PARRAMATTA NSW 2124 Monday to Friday Log in to chat to us online Details: cbussuper.com.au/contact