Cbus Super has announced it will launch six new investment options in mid-February, joining the five existing options offered by the super fund.
The new options are being launched with the merger and corporate superannuation markets specifically in mind according to Cbus Super CIO Kristian Fok.
“We do see that a market, particularly in the corporate space, is there for a wider range of choice options,” he said.
“That’s why we have spent the last 12 months carefully constructing and testing our new menu of options for members.”
The super fund signed a memorandum of understanding with EISS Super in December to complete a merger sometime this year.
Among the new options being launched is Growth Plus, which will sit between the existing High Growth and Growth MySuper options in terms of its risk and return profile.
“Growth Plus may suit members seeking higher returns over the long term and can ride out short term fluctuations,” explained Mr Fok.
“While the option has a larger allocation to growth assets compared to our default option, and thus might suit members with a higher risk profile, it is still broadly diversified across asset classes and underlying strategies.”
The new Index Diversified option was developed in response to growing demand for low-cost passive products.
“We view the risk profile of this option as sitting at the riskier end of our current suite, so obviously it is not for everyone,” Mr Fok noted.
Overseas shares, Australian shares, property and diversified fixed interest round out the new options being launched by Cbus.
“Our default Growth MySuper option is a top quartile product, and we continue to view it as a superior product designed to suit most members,” said Mr Fok.
The super fund, which currently manages $67 billion for its more than 775,000 members, said it remains focused on growing to $150 billion.
Jon Bragg is a journalist for Momentum Media's Investor Daily, nestegg and ifa. He enjoys writing about a wide variety of financial topics and issues and exploring the many implications they have on all aspects of life.