How Cbus’ big party year went horribly wrong
It’s not the biggest or the worst performing of the super funds. So why has Cbus become the poster child for the $4 trillion sector’s problems?
This was supposed to be a year of celebration for Cbus. The construction industry fund marked its 40th anniversary in July and a slew of marketing campaigns and events were planned.
“It’s an exciting time to lead Cbus Super,” CEO Kristian Fok wrote to members in March. In a media release, chairman Wayne Swan said it was “an opportunity to reflect on the achievements of the fund”.
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