Cbus chairman Wayne Swan said the industry super fund was comfortable with the risk settings of developing social and affordable housing and could invest more than the $500 million it has already committed through the Housing Australia Future Fund.

Former Labor treasurer Mr Swan said the commitment made this week by Cbus, along with CareSuper, Hostplus and Rest, to debt-fund bids by community housing providers to develop 40,000 new low-income rental homes over the next five years showed it understood the new asset class.