Brighter Super MySuper members prosper with double digit returns in 2023 and some of the lowest fees in Australia

20 February 2024

Brighter Super is among the top three industry funds with the lowest MySuper option fees in Australia, according to SuperRatings data, and its double-digit returns for 2023 maintain its position as the best-performing MySuper option for an industry fund in Queensland.

Brighter Super’s MySuper option has continued its stellar run, delivering a return of 10.40%¹ for the 12-months to 31 December 2023, the highest of any Queensland-based industry fund, according to the SuperRatings SR50 MySuper Index rankings.*

On top of being the best performing MySuper option offered by a Queensland industry fund, our double-digit return also outpaced the national median return of 10.05%.

See below for a comparison of our returns against other major industry funds in Queensland:

*SuperRatings Fund Crediting Rate Survey – December, 2023. Based on SR50 MySuper Index returns, 12-months to 31 December 2023. National industry fund median for the same period was 10.05%. Refer to superratings.com.au for further information about these results, including how it calculates 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. Past performance is not a reliable indicator of future performance. Investment returns are not guaranteed. 

At the same time, also according to SuperRatings data, Brighter Super’s MySuper investment option is one of the top three lowest fee MySuper products offered by industry funds in Australia.2

Brighter Super Chief Executive Officer Kate Farrar said the strong returns combined with low fees showed the benefits of the mergers between LGIAsuper and Energy Super, and the acquisition of Suncorp Super were flowing to members.

“Being a boutique fund with significantly increased scale, Brighter Super, who is not a mega fund, is uniquely placed to pursue mid-market investment opportunities with agility to change as market conditions warrant,’’ Ms Farrar said.

“The focus of the next 12 months will be on ensuring members are benefiting from the recent growth of the fund, particularly those members close to retirement," Ms Farrar said.

The MySuper option’s strong performance comes after it finished in the top five industry funds nationally for the 12 months to the end of June 30, 2023, with an outstanding return of 10.62%.¹

Brighter Super’s MySuper option maintained its momentum as the year ended, boosted by strong returns from Australian and international equities as markets rallied in November and December.

Brighter Super Chief Investment Officer Mark Rider said the Fund used the merger to rebalance its investment portfolio and take advantage of emerging market opportunities. 

He said the Fund had been optimistic over the past 12 months on growth assets such as equities.

“This has certainly assisted performance in closing out the 2023 calendar as equity markets rallied and ultimately delivering strong returns for our members’’ Mr Rider said.

You can read Mark Rider’s latest commentary on investment markets, the economy and our funds performance by checking our news page regularly.

LGIAsuper Trustee (ABN 94 085 088 484) (AFSL 230511) (the Trustee) as trustee for LGIAsuper (ABN 23 053 121 564) (RSE R1000160) (the Fund) trading as Brighter Super. Brighter Super products are issued by the Trustee on behalf of the Fund. Brighter Super may refer to the Trustee or LGIAsuper as the context may be. 

This article provides general information only and does not take into account your individual objectives, financial situation or needs. As such, you should consider whether it is appropriate in light of your own objectives, financial situation and needs prior to making any decision. You should consult a licensed financial advisor if you require advice which does take into account your personal financial circumstances. You should also obtain and consider the Product Disclosure Statement (PDS) before making any decision to acquire any products. A Target Market Determination (TMD) is a document that outlines the target market a product has been designed for. Find the PDSs and TMDs at www.brightersuper.com.au/about-us/governance/pds-and-guides.

¹Returns are based on daily unit prices available to members. They are net of investment fees and taxes, and net of the 0.18% administration fee charged by the Fund. Investment returns are not guaranteed. Past performance is not a reliable indicator of future performance.

² Brighter Super’s MySuper investment option is among the three lowest fee MySuper products offered by industry superannuation funds in Australia, based on Brighter Super analysis of SuperRatings data. This is based on 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 January 2024 and is subject to change. For more information on the SuperRatings research methodology visit www.superratings.com.au. Awards and ratings are only one factor to be taken into account when deciding whether to invest.