NewsBite

‘Not spooked’: Cbus chairman Wayne Swan doubles down on property

Michael Read
Michael ReadEconomics correspondent

Subscribe to gift this article

Gift 5 articles to anyone you choose each month when you subscribe.

Subscribe now

Already a subscriber?

Cbus chairman Wayne Swan says the $85 billion fund’s property portfolio has proven resilient to higher interest rates and the fallout of the pandemic even though plummeting office valuations have led other investors to abandon commercial real estate investments.

While the value of Cbus’ property option fell by 2.8 per cent in the three months to September 30, the former Labor treasurer said the investment had delivered average annual returns of 14 per cent since ts inception.

Loading...
Michael Read is the Financial Review's economics correspondent, reporting from the federal press gallery at Parliament House. He was previously an economist at the Reserve Bank of Australia and at UBS. Connect with Michael on Twitter. Email Michael at michael.read@afr.com

Subscribe to gift this article

Gift 5 articles to anyone you choose each month when you subscribe.

Subscribe now

Already a subscriber?

Read More

Latest In Economy

Fetching latest articles

Most Viewed In Policy

    Original URL: https://www.afr.com/policy/economy/not-spooked-cbus-chairman-wayne-swan-doubles-down-on-property-20231031-p5egby