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Big super flexes its nation-building muscles

Big super flexes its nation-building muscles
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A long-term game : How this fund is seeing results from in-house investment

‘A long-term game’: How this fund is seeing results from in-house investment By Sarah Kendell 07 July 2021 As the trend towards bringing investment teams in-house continues, a major industry fund has credited its record performance for the 2021 financial year to increasing efficiencies and sharper reactions to market swings as it jettisons external managers. Construction industry fund Cbus, which manages $59 billion on behalf of 765,000 members, revealed it had generated a 19.34 per cent return for its growth option in FY21, the best annual performance figures in the fund’s 37-year history. Cbus, which has moved to managing 35 per cent of member investments in-house, also picked up former APRA head of investment risk Mark Ferguson as its new head of total portfolio management this week, in what the fund said was another plank in the implementation of its internalised investment structure.

Cbus expands internal investment team

“This appointment further strengthens Cbus’ overall investment capability and continues our strategy to build our level of expertise in-house. This enables Cbus to respond quickly to opportunities and negotiate directly for the best investment outcomes for our members.” Ferguson was most recently head of investment risk at the Australian Prudential Regulation Authority (APRA) and prior to that, managed AustralianSuper’s active and overlay currency programmes. “I’m delighted to be joining a super fund that is so focused on generating the best investment outcomes for its members,” Ferguson said. “My experience and outlook strongly align with Cbus’ investment objectives for their members and I look forward to contributing to the consolidation and enhancement of its history of top-quartile performance.”

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