Daily unit prices explained

Following our merger with Energy Super in July 2021, we are taking the opportunity to harmonise and enhance the way we report on daily investment values for Accumulation and Pension accounts.

From 13 June 2022, we are publishing the daily unit price for each investment option, replacing our previous daily earning rates. We will continue to publish earning rates for financial year to date, and one, three, five and ten years.

The daily earning rates are calculated as the percentage movement in the daily unit prices. Changing to daily unit prices increases transparency and can make it easier for members to see the investment value of their super on a given day.

Daily unit prices for all investment options will be applied on our website at brightersuper.com.au/performance.

What does this mean for members?

Changing to daily unit prices will not affect our members’ account balances.

This change can provide the following benefits to our members:

• Increased transparency, enabling members to see the underlying unit prices for their investments.
• Quick and easy for members to see the value of their super.
• Easy to compare earnings between our different investment options.
• Consistent with valuation methods used by other super funds.

How unit pricing works

Each investment option is made up of units. A unit price represents the value of each unit.

When you invest your super in an investment option, you are buying units. Each day, the unit price will increase or decrease, depending on the investment performance of the assets underlying the investment option.

We will publish the daily unit price for each investment option on our website every weekday (excluding public holidays) at brightersuper.com.au/performance.

We deduct any relevant fees, costs and taxes before publishing the unit price.

For Accumulation and Pension accounts, all historical earning rates will be converted to unit prices, which will give you consistent data if you need to track the past performance of your super.

Investment switch timings

For any given day, we have historically reported earning rates with the previous day’s closing rates, which has been confusing to members.

Therefore, in moving from earning rates to unit prices we are taking the opportunity of changing the effective date of our daily valuations.

• Before 13 June 2022: Earning rates for any given day are applied using the previous day’s closing rates.
• From 13 June 2022: Unit prices will be applied using the same day’s closing rates.

Under our new unit pricing policy, if you request an investment switch, the effective date of the switch will be the same date of the request if received prior to 3.00 pm AEST. This is consistent with the change to effective date for our unit prices.

More information about investment switch timings can be found at brightersuper.com.au/investment-switch. Please refer to brightersuper.com.au/performance for the most up to date information.

We are making these changes to increase transparency, so it is clear that your investment switches are valued at the market levels you expect. Our aim is to make our reporting clearer and easier for you to use.

This change to the date format will not affect your account balance.

All historical earning rates will be converted to unit prices, which will give you consistent data if you need to track the past performance of your super.

Tracking your super’s performance

The daily unit price multiplied by the number of units you hold in an investment option will give you the value of your super.

For example, if an investment option’s daily unit price is $1.25, and you hold 80,000 units in that option, then your account balance will be $100,000.

If you are a Brighter Super member, you can view your account balance in Member Online at any time. Your account balance is displayed in both dollars and units.

Further information

• Investment performance
• Daily unit prices
• Investment switch timings
• Investment Choice Guide – available for each type of account
• Contact us if you have any further questions about these changes