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Cbus appoints new investment leadership role

The $54 billion industry fund has appointed a chief operating officer, investments.

Nancy Day steps into the role, having been head of investment operations at the fund for the past two years.

"Nancy has already made a significant contribution to the growing sophistication of Cbus' investment operations," Cbus chief investment officer Kristian Fok said.

"Nancy is a recognised leader across the fund and we are very pleased to welcome Nancy into this important leadership role."

Day said her role will involve driving the continued internalisation of the Cbus investment model.

"My focus will be on the ambitious investment model including the internalisation of a number of direct investment strategies to continue to drive down investment costs and maximise the retirement outcomes of our 770,000 members," Day said.

"I'm delighted to be appointed to a strategic leadership role, working with our experienced team as we continue on our internalisation journey."

Prior to joining Cbus in 2018, Day spent more than 17 years at JCP Investment Partners where she departed as chief operating officer and company secretary.

Cbus has been building its in-house investment capability since 2016 when its board approved a new investment strategy, seeking to minimise outflows through fees and to target investments with a positive impact on the economy - particularly buildings and infrastructure.

The shift in investment strategy has seen the fund back ambitious construction projects, including a $1 billion tower in Melbourne slated to be completed by 2023.

Cbus recently committed $950 million to equity raisings, debt financed and project financing in a move it said would assist Australia's economic recovery from COVID-19. It has also allocated a further $850 million to its debt portfolio to invest in companies and project finance.

Read more: CbusNancy DayJCP Investment PartnersKristian Fok
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