Best of the Best: Best Balanced Super Fund
Cbus Growth wins the award for best balanced fund with 67% in growth assets and the remainder in conservative investments.
The 32-year-old public offer fund, originally established as the super fund for workers in the building and construction industry, has returned 9.3%pa over the past five years, outstripping the average super fund return of 7.92%pa as measured by SuperRatings.
A feature that sets Cbus apart from the typical super fund is its direct investments in existing office, retail, industrial and residential property as well as its role in developing buildings, providing work for its members.
The fund says it has provided work for 70,000 people on its projects.
Cbus Growth holds 13% of its assets in property and 24% in alternative investments such as infrastructure and private equity.
This has proven to be a top strategy to date as members' super investments have benefited from the property boom.
The Cbus Growth administration fee is $78pa plus 0.1% of assets. The investment management fee rose over the year from 0.81% to 0.84%.
The fund offers members a range of services including financial planning, health insurance, life, TPD and terminal illness insurance, credit cards and binding nominations. But it does not offer long-term income protection insurance. It recently extended TPD cover up to the age of 70.