Heavy office tower exposure drags down Cbus’ annual returns

Construction industry superannuation fund Cbus’ heavy exposure to unlisted property dragged its returns for 2023-24 down to 8.4 per cent, falling short of rivals in a year that generally delivered stellar growth to Australians’ retirement nest eggs.

Chief investment officer Brett Chatfield conceded that structural shifts during the pandemic to the use of commercial property had hit the struggling asset class’ returns.