Cbus Super’s Head of Debt and Alternatives, Linda Cunningham, has been named Industry Thought Leader of the Year at the Super Review Super Fund of the Year awards. The award acknowledges the pioneering work led by Linda finding scalable ways for institutional investors to support the delivery of new social and affordable housing.
The awards recognise the best super funds and professionals in the super sector in Australia. Cbus Super was also nominated for Sustainable Fund of the Year and MyChoice Super of the Year.
Linda was recognised for creating distinctive debt structures that will result in continuing institutional support for vitally important social and affordable housing in Australia.
Cbus Super Chief Investment Officer Brett Chatfield congratulated Linda for the recognition by the sector of her transformative investment work for the Fund’s 920,000 members, “In addition to being a highly experienced debt investor, Linda is firmly established as the lead innovator for institutional investment in social and affordable housing supply – investments that provide returns for members and broader societal benefits.
“Linda has established a deep and high calibre debt team, which directly manages multiple portfolios for the Fund. Her deep understanding of structuring debt has created opportunities in the way Cbus can invest for members whilst generating strong long-term results.”
Linda Cunningham said, “I have been proud to draw on my expertise in debt investing to achieve strong long-term, risk-adjusted returns for our members while being able to support community housing providers to deliver new social and affordable housing.
“Investors can create opportunities where our duties as investors align with the national interest. These investments achieve several ‘wins’: a win for Cbus members in achieving the best possible retirement outcomes through great net returns on investments; a win for many of our members and the broader construction industry by supporting jobs in the sector; and a win for society through supporting efforts to increase the supply of social and affordable housing through institutional investment.
“Thank you to the awards and judging committee for the recognition, I hope to continue finding new ways to innovate and improve members’ retirement outcomes.”
From a small internal cash portfolio in 2016, the team led by Linda now directly invests over $5 billion at 30 June 2024.
Following on from work undertaken in mid-2020 in relation to a trial project to provide long term subordinated debt for Community Housing Providers (CHPs), Linda has more recently been working with other super funds and IFM Investors to create a structure that will enable broader, scalable institutional investment in the sector that meets attractive risk-adjusted returns for fund members. This has been done to support CHPs who secure Housing Australia Future Fund (HAFF) funding with critical long-term debt that will help maximise the number of social and affordable dwellings that can remain in the CHP sector in perpetuity.
Linda’s strong connection to investing for our members and their sectors includes establishing a construction finance team and leveraging internal knowledge on market conditions to provide finance to ‘shovel-ready’ opportunities, providing strong long -term returns to members whilst boosting supply across the housing continuum and creating jobs.
The Cbus debt team has overseen funding for the development of over 1500 residential units, including over 400 during 2024. Other residential construction projects are continuing at present.
Since Cbus commenced its hybrid internalisation journey in 2016, it has built out a high calibre direct investing team. The Investment Team which currently consists of over 100 investment professional has more recently been boosted with several key appointments including former AustralianSuper Head of Equities and VFMC CIO, Justin Pascoe, property veteran Nikki Panagopoulos, infrastructure energy expert Angela Ruchin, ESG expert Talieh Williams, and former AustralianSuper and Bell Asset Management portfolio manager, Xia Wu to the internal emerging market equities team.
Brett Chatfield said, “Our investment team is in exceptional shape and continues to benefit from very low turnover, and the ability to attract market leaders. This will be critical in the coming years as we look to repeat the strong returns generated over the last decade.”
ENDS
About Linda Cunningham:
Linda has been working directly in the superannuation industry since joining Cbus in 2016. This was preceded by three decades of experience across retail, corporate and institutional banking, as well as in retail and institutional funds management. Prior to joining Cbus, Linda spent three years at IFM Investors, which gave her insights into the unique role of industry super funds and the broader role that they play in Australian financial markets.
Linda joined Cbus Super with the remit to manage the overall credit sector as well as to develop an internal direct corporate and property lending strategy. Over the past eight years, Linda’s role has expanded to include oversight for cash, fixed interest, enhanced income, global credit and alternatives at Cbus. This involves leading a team of 10 dedicated investment professionals and managing investments of more than $20 billion on behalf of Cbus members. This includes the direct debt portfolios which since launch in early 2019 have overseen the provision of loans and other investments of over $2 billion to Australian corporates and property developers.
About us:
All figures as at 30 June 2024 unless otherwise noted.
Lonsec company SuperRatings determines the Super Fund of the Year award finalists across 18 categories. Finalists in the Thought Leader of the Year are determined by Momentum Media.
Cbus Property Pty Ltd is a wholly-owned entity of United Super Pty Ltd as Trustee for the Construction and Building Unions Superannuation Fund (Cbus Super) and is responsible for the development and management of a portfolio of Cbus Super's property investments.
This information is about Cbus and doesn’t take into account your specific needs. You should look at your own financial position, objectives and requirements before making any financial decisions. Refer to Cbus Product Disclosure Statement, Target Market Determination and Financial Services Guide for more information. Call 1300 361 784 or visit cbussuper.com.au for a copy.
Cbus is the leading Industry Super Fund representing those that help build and maintain Australia. As one of Australia’s largest super funds, we provide superannuation and income stream accounts to More than 920,000 (as at 30 June 2024) and we manage more than $94 billion (as at 30 June 2024). Our members include workers and retirees, their families and employers. As of April 2022, Cbus merged with Media Super and offers Media Super products. In May 2023 Cbus Super successfully completed its merger with EISS Super, welcoming 17,000 new members and establishing itself as the leading fund for energy and electrical workers in Australia
Issued 1 November 2024, United Super Pty Ltd ABN 46 006 261 623 AFSL 233792 as Trustee for Construction and Building Unions Superannuation Fund (Cbus and/or Cbus Super)) ABN 75 493 363 262.
Contact details:
David McNamara, Strategic Media Manager, 0455 144 464, david.mcnamara@cbussuper.com.au