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Cbus (pseudo) self managed super. Got $40k in your fund?

Discussion in 'Other Asset Classes' started by Steven Ryan, 30th Jul, 2015.

  1. Steven Ryan

    Steven Ryan Mortgage Broker Business Plus Member

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    Thought I'd share what I see as an innovation in the super fund space (unless they've been beaten to the punch).

    Cbus have recently introduced a "self managed" option for those with a super balance in excess of $40,000.

    Might be a nice option for those trapped between $40k and enough to go for a fully SMSF, who also want a bit more control over their funds.

    It gives the ability to buy individual shares and allocate exact dollar amounts to different asset classes which is plenty more than most funds.

    More info is here: http://www.cbussuper.com.au/__data/assets/pdf_file/0007/102697/CSM-Overview-Factsheet.pdf

    As always FEES are a critical factor, and info is here: http://www.cbussuper.com.au/investm...lf-managed/cbus-self-managed-fees-and-charges

    Here's a screen grab from inside:

    [​IMG]

    Just wanted to share in case it's of interest.
     
  2. moyjos

    moyjos Well-Known Member

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    I have this with ING as well. My tiny (less than $40k) balance was with Sunsuper, going nowhere. I rolled into ING, took an interest and have out performs SUnsuper for the past 2 years.

    I will often lurk on the share threads here (well SS but you know what I mean :rolleyes: ) and take some buying cues from those in the know.

    http://www.ingdirect.com.au/superannuation/living-super.html
     
  3. bob shovel

    bob shovel Well-Known Member

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    How much do you normally need for a smsf?? Newb question. But I'm with cbus and could be worth looking into further
     
  4. Steven Ryan

    Steven Ryan Mortgage Broker Business Plus Member

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    You will hear figures ranging from $100-$200k to go fully self-managed (anything less and accounting fees can eat up the balance), but this Cbus option is an in between solution which is open to anyone with a balance of $40,000 or more.
     
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  5. bob shovel

    bob shovel Well-Known Member

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    Thanks @Steven Ryan I've just gone for the ignorant option for super so far but falling into that bracket i might look into it more. You should get a commission from cbus for the above ad ;)
    And again you've given me more to look into !!
     
  6. Steven Ryan

    Steven Ryan Mortgage Broker Business Plus Member

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    Hah, no commissions for me @bob shovel. As @moyjos has shown, there are a few options out there it seems so have a look around :)
     
  7. Blacky

    Blacky Well-Known Member

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    Interesting.
    I only have about $40k of super.
    Its a set and forget type of thing. The only reason I don't move it is because it comes with a death payout of about 10x. So it would be a nice little earner if I happen to fall off the perch.
    It hasn't gone up or down for about the last 10years - so there maybe some opportunity cost I am missing out on.

    Blacky
     
  8. MRO

    MRO Well-Known Member

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    CBUS are the worst. As an employer they try to force you into paying super monthly rather than the legislated quarterly payments. Thugs send monthly threatening letters that go straight in the bin.
     
  9. Steven Ryan

    Steven Ryan Mortgage Broker Business Plus Member

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    Wait.

    Your super balance hasn't grown (through returns) in a decade?
     
  10. spludgey

    spludgey Well-Known Member

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    Very tempting!
    I might move my "play money" over there and see what I can do.
     
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  11. Blacky

    Blacky Well-Known Member

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    Pretty well.
    It grew until GFC, crashed and has returned to about level.

    I don't put money into it, it just sits there staring at me doing nothing but being an expensive life insurance policy.

    Blacky
     
  12. moyjos

    moyjos Well-Known Member

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    That is the way I look at it. I do not have much Super, so if I can play with it and learn a little about the Stockmarket .. I am happy to play and not feel like "my" money is a risk.
     
  13. Bullion Baron

    Bullion Baron Well-Known Member

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  14. Tony Fleming

    Tony Fleming Well-Known Member Business Member

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    Interesting. I was about to send back paperwork for a esuper account before the credit changes happened from memory you could only use St George or Anz but than the 30% deposit with 10% leftover came in to play but shares have always interested me.
     
  15. Scott No Mates

    Scott No Mates Well-Known Member

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    You should watch your super - CBus has returned about 10% this year and consistently over 7%pa. Retail funds when you have small balances have not impressed me at all - I have had funds in 3 or 4 employer retail funds - all performed pathetically. Had I stuck with CBus rather than the employer fund, I would have been better off (lower fees ie less of your contributions being chewed up by the fund), lower costs of insurance, different mix of fund managers.

    Complacency is not an option. Oh! it's only 40K - that is a 10% deposit why give it to some bozo to manage?
     
  16. Blacky

    Blacky Well-Known Member

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    B
    Because if I move it out I lose $400k of life insurance.

    I know, I know... the maths doesn't add up. Ive just never got around to it.

    Blacky
     
  17. Steven Ryan

    Steven Ryan Mortgage Broker Business Plus Member

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    I should post and update here.

    I've just put 75% of my balance into assets within this "self managed" fund and allocated it.

    Great to gain some control and perform some experiments.
     
  18. bob shovel

    bob shovel Well-Known Member

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    Awesome! I have amalgamated all my funds to the bus now and briefly looked at their website about self managing.
    Is it easy to setup and play with? Cash you buy /sell etc like a commsec arrangement and go to town as you wish?
     
  19. Scott No Mates

    Scott No Mates Well-Known Member

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    If you're worried about losing the $400k benefit just compare the cost against getting the same cover under another super fund. If the other fund is more expensive but offers better returns shift most of the super to the other fund and top up the fund with the better pricing on the insurance - best of both worlds.
     
  20. Scott No Mates

    Scott No Mates Well-Known Member

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    Have you got a cash flow problem @MRO? They know what builders and tradies are like so try to get the contributions in as quickly as possible.

    I get one email per month, set my return to nil, end of story.Toughen up sweetheart. ;)