Today
Cbus’ executives turn over but CFMEU directors are eternal
The rumours were true: acting chief risk officer Belinda Langdon did leave $90 billion fund in May. Hers follows a string of departures.
- Nick Bonyhady
This Month
Another Cbus exec bites the dust
Street Talk understands Natalie Hannemann, Cbus chief of transformation has walked away from the $94 billion fund less than a year into the role.
- Sarah Thompson, Kanika Sood and Emma Rapaport
July
- Exclusive
- Building Bad
Union sparkies spare Cbus-backed builds from work bans
Developments in western Sydney are running months behind schedule due to industrial action at Endeavour Energy. But two projects seem to be exempt.
- Campbell Kwan and David Marin-Guzman
‘I’d be rolling over my money’: Murray’s worry on Cbus-CFMEU links
Former bank boss David Murray says the latest CFMEU revelations reaffirm his view that all superannuation board members should be independent.
- Hannah Wootton
CFMEU boss allegedly boasted of corrupt connections to $94b Cbus
Police allege a CFMEU official told corrupt building firms he could secure them lucrative jobs on projects financed by the superannuation giant.
- Nick McKenzie, David Marin-Guzman and Ben Schneiders
- Opinion
- Chanticleer
CFMEU scandal should force rethink on super fund boards
Union-backed industry super funds have pushed hard to lift governance and accountability at public companies. Shouldn’t they want to improve their own governance, too?
- Updated
- James Thomson
APRA puts onus on Cbus to ensure CFMEU directors are fit, proper
Senators have called for the construction industry fund to cut ties with the CFMEU amid allegations of criminality at the union. The prudential regulator says it is up to superannuation fund boards.
- Hannah Wootton
The ties that bind John Setka to Cbus and the ALP
With the CFMEU now in a spotlight so bright even the indestructible John Setka couldn’t ride it out, ties like these drag everyone else into the glare.
- Myriam Robin
Senators demand Cbus cut ties with CFMEU-appointed directors
There are currently three CFMEU-appointed directors on the super fund’s board.
- Hannah Wootton
- Exclusive
- Nuclear energy
Too uncertain, too slow: funds rule out financing Dutton nuclear plan
The disinterest from superannuation funds comes despite appetite for other energy transition assets and a shortage of domestic investment opportunities.
- Hannah Wootton
Heavy office tower exposure drags down Cbus’ annual returns
But the construction industry super fund stood by its heavy allocation to the asset class, even as its financial year returns fell below rivals.
- Hannah Wootton
June
- Exclusive
- Office
Dexus-Canadian fund cashes out $310m Martin Place stake at a discount
Office valuations have been progressively written down over the past two years as the sector absorbs the cost of high rates.
- Campbell Kwan
Cbus tops list for super complaints
Cbus also paid $1 million in compensation claims to customers in the first half of the financial year.
- Hannah Wootton
Restaurateur Chris Lucas to bring midas touch to $1b Cbus office tower
The property group is collaborating with the Melbourne restaurant king on the design of the hospitality precinct below its $1billion office tower at 435 Bourke St.
- Larry Schlesinger
DIF’s ageing funds ignite $1b renewables auction; Cbus rolls in
Cbus, sources said, joined DIF’s selldown to avoid contemplating life on the register with an unknown major shareholder.
- Sarah Thompson, Kanika Sood and Emma Rapaport
May
‘Every country is worried about what’s happening in the US’
ESG champion David Atkin runs a global organisation with 5300 signatories that manage a total of $US121 trillion – about half of global funds under management.
- Ben Potter
‘Radical, illogical’ cap on super ASX stakes would cost savers
Instead of helping Australians buy ASX shares, a cap as proposed by Andrew Bragg would just help foreign capital own more of the market, industry experts warned.
- Hannah Wootton
High exec turnover at Cbus has the super sector talking
An exodus of at least 10 Cbus executives has eyes fixed on the $85 billion construction industry super fund giant.
- Sarah Thompson, Kanika Sood and Emma Rapaport
Cbus deputy CIO and head of private markets Alex Campbell resigns
Two years after joining Cbus, Campbell was promoted to head of private markets where her remit broadened to cover $25 billion of FUM
- Sarah Thompson, Kanika Sood and Emma Rapaport
April
Big super splits on performance test reforms
Labor announced it was reviewing the test after several funds said the current rules stopped them investing in the “nation building” initiatives the government wanted them to bankroll.
- Hannah Wootton
