Brighter Super is top-performing Queensland industry fund for Growth and Balanced options in 2024
7 August 2024
Brighter Super’s Growth and Balanced accumulation investment options have achieved double-digit returns in FY2024, cementing itself as the top performing Queensland-based industry fund for these options.
Brighter Super’s Growth accumulation option returned 11.91% for the year to 30 June 2024, while the Balanced accumulation option returned 10.57%, the highest returns in their class for an industry super fund based in Queensland.1
Brighter Super’s Growth option also achieved the highest returns in its class nationally over five years (9.08%) and seven years (9.75%), while the Balanced option was first in its class in terms of returns over seven years (8.50%) and second over five years (7.71%), according to the Super Ratings’ SR50 Indices at 30 June 2024.1
At the same time Brighter Super continues to be among the top three industry funds with the lowest MySuper option fees in Australia, according to SuperRatings data.2
Brighter Super Chief Executive Officer Kate Farrar said the strong returns for 30 June 2024, and the continued low fees for members in the MySuper option, showed members were reaping the benefits of the merger between LGIAsuper and Energy Super and the acquisition of Suncorp Super.
“Through the mergers we selected the best possible services and products from our foundation funds, which enabled us to diversify our investments and access better opportunities,’’ Ms Farrar said.
“The increased scale from the mergers has also lowered costs per member allowing us to reduce fees by up to 70% for some members.
“At the same time, as a mid-sized fund, we remain committed to being right by our members’ sides providing the advice they need to help them retire confidently.’’
Brighter Super’s MySuper option also performed strongly, returning 9.07% in the year to 30 June 2024.
Brighter Super Chief Investment Officer Mark Rider said most of the Fund’s investment options had delivered returns in the top quartile for the industry.
Mr Rider said he was pleased the Fund was delivering solid returns despite the economic headwinds caused by high inflation and global uncertainties.
Mr Rider said the Australian and international share markets were the dominant driver of overall fund returns, ably assisted by Private Equity and Infrastructure.
“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 capped administration fees for all members at $900 per financial year.
To stay up to date, see our latest performance.
Brighter Super Trustee (ABN 94 085 088 484 AFS Licence No. 230511) ("Trustee") as trustee for Brighter Super (ABN 23 053 121 564) ("Fund"). Brighter Super may refer to the Trustee or the Fund as the context may be. Brighter Super products are issued by the Trustee on behalf of the Fund.
1 Based on Brighter Super analysis of SuperRatings data. SuperRatings Fund Crediting Rate Survey SR50 Balanced and SR50 Growth Index Rankings, June 2024. Compared to other Queensland-based industry funds, Brighter Super’s Balanced and Growth options performed the strongest in FY2024. Nationally, these options were also the top performing products in their indices over 7-years and among the top three over 5-years. Refer to superratings.com.au for further information about these results, including how it reports investment returns. The information is current as at the date of the SuperRatings Survey. Investment returns are only one factor to be considered when deciding whether to invest. Our Balanced and Growth investments are a ready-made diversified choice options. Brighter Super members must make an investment choice to receive these returns. Past performance is not a reliable indicator of future performance.
2 Brighter Super analysis conducted on 29 July 2024 of SuperRatings data in SMART portal accessed 29 July 2024. Data is subject to change. Brighter Super’s MySuper investment option is among the three lowest MySuper products offered by industry superannuation funds in Australia and the lowest of any industry superannuation fund based in Queensland. Analysis compares the cost-of-product and cost-to-member, on a balance of $50,000. Considers SuperRatings rated options offered by industry funds only. For more information on the SuperRatings research methodology visit www.superratings.com.au/research. Ratings are only one factor to be considered when deciding whether to invest.
