Cbus launches internally-driven large cap Aussie equities strategy

Industry superannuation fund Cbus has upped the ante on its internal investment management, appointing Ryan Riedler to the role of Head of ASX Core Strategy focused on large cap Australian equities.

Announcing the move, Cbus said it built on the fund’s success in internalising a significant amount of its members’ funds under management.

That plan involves building its internal investment team to 150 over coming years.

Riedler comes with a solid track-record having spent almost 14 years with Australian equities fund manager, Cooper Investors.

Confirming Riedler’s appointment, Cbus Head of Portfolio Strategies, Leigh Gavin described the large cap Australian equities approach as the next step for the superannuation fund.

“This new strategy has relatively few capacity constraints and can, over time, be a multi-billion dollar strategy that is central to the overall Australian equities portfolio,” he said.

Reporting to Gavin as Head of Portfolio Strategies, Riedler will develop, implement, and oversee the investment strategy for the new ASX Core portfolio, which is complementary to the Fund’s existing internal Australian equities capabilities.

Gavin said that as one of the largest funds in the country, Cbus expects to grow its internal investment team of high calibre investment professionals from around 115 to 150 over the coming years and has a long history of low turnover.

“The shift to a higher level of internalisation has delivered strong results for members, including contributing to an overall saving of investment fee and cost savings of more than $1 billion since 2018,” he said.

“We will continue to look at ways we can bring further strategies in-house as part of Cbus’ five-year investment strategy,” Gavin said.