Brighter Super delivers double-digit returns in key investment options 

18 July 2024

Brighter Super has achieved double-digit returns in its Balanced and Growth accumulation and pension investment options, delivering strong end-of-financial year results for members.¹

The Balanced accumulation option returned 10.57% and the Growth accumulation option delivered 11.91%, for the year to 30 June 2024. The Balanced accumulation option has returned 8.5% p.a. over seven years and the Growth option returned 9.75% p.a. over the same period.

The MySuper option’s 9.07% in financial year 2023/24 exceeds the 6.9% p.a. return over the past seven years and continues to be one of the top three industry funds nationally for lowest MySuper fees.²

Brighter Super’s pension options also performed strongly in the year to 30 June 2024 with the Growth option returning 13.44%, the Balanced option returning 11.92%, and the Conservative Balanced option 9.79%.

Brighter Super Chief Executive Kate Farrar said the strong returns showed Brighter Super was continuing to deliver the benefits of the merger of LGIAsuper and Energy Super and the acquisition of Suncorp Super to members. 

“The mergers allowed us to pick the best possible services and products from the three merged funds and added liquidity to the portfolio which enabled us to diversify our investments and access better opportunities,” Ms Farrar said. 

“Alongside our focus on performance, we are committed to keeping fees low and providing advice to help our members retire confidently. “And our members are reaping the rewards.’’ 

Brighter Super Chief Investment Officer Mark Rider said he was pleased the fund was delivering solid returns despite the economic headwinds caused by high inflation and global uncertainties created by regional conflicts and emergent trade wars. 

Mr Rider said the Australian and international share markets were the dominant driver of overall fund returns, ably assisted by Private Equity and Infrastructure. 

“We have had solid returns in our investment options over the past 18 months, particularly where there has been a larger allocation to growth assets such as shares,’’ Mr Rider said. 

“This is despite high interest rates and slower economic growth.’’ 

“Our focus is on building a well-diversified portfolio for our members, selectively using active management to help navigate uncertain times to generate the returns our members need for their retirement in the years ahead,’’ Mr Rider said. 

From 31 May 2024, Brighter Super simplified its investment offerings from a combined suite of 32 options to 16 investment options, 12 options which are available to all members and have administration fees capped at $900 per financial year.

The new investment menu reduced fees to some members by up to 70%.

To stay up to date, see our latest performance.

¹All returns are based on daily unit prices available to members. They are net of investment fees and taxes, and gross of the administration fee charged by the Fund. Investment returns are not guaranteed. Past performance is not a reliable indicator of future performance.

²Based on Brighter Super analysis of SuperRatings data, comparing the cost-of-product and cost-to-member, on a balance of $50,000. Comparison considers SuperRatings rated options only. Data is accurate as of 1 July 2024 and is subject to change. For more information on the SuperRatings research methodology visit www.superratings.com.au. Ratings are only one factor to be taken into account when deciding whether to invest.