Phone 1800 444 396
Web brightersuper.com.au
Email info@brightersuper.com.au
Post GPO Box 264, Brisbane QLD 4001


Governance

As a fund run only to profit members, Brighter Super is committed to delivering excellent value so you can enjoy more money in retirement. To achieve this, we need good governance, strong operations and clear accountability.

Our governance framework

Brighter Super has been a complying regulated superannuation fund since 1 July 1995 within the meaning of the Superannuation Industry (Supervision) Act 1993 (the SIS Act). LGIAsuper Trustee (ABN 94 085 088 484) acts as trustee of the fund under the Local Government Act (Qld). LGIAsuper Trustee holds a Responsible Superannuation Entity (RSE) Licence (RSE Licence number L0000178).

From 1 July 2011, Brighter Super (known then as LGsuper) and City Super merged to become one fund for all of local government in Queensland. Today, the combined fund operates as Brighter Super.

Brighter Super is governed by a Trust Deed, which outlines our governing rules (and consolidates any amending or supplemental Trust Deed).

Reports, policies and guides

Brighter Super has developed a range of policies to guide our governance practices. As part of our commitment to transparency, we also publish reports and guides about our fund’s performance, products and operations.

Who runs Brighter Super?

LGIAsuper Trustee is responsible for managing Brighter Super in the best interests of members.

Remuneration arrangements

Brighter Super's goal is to provide members with high quality, low cost superannuation services to help them achieve their retirement goals. To provide these services LGIAsuper Trustee must attract and retain quality staff. Brighter Super's remuneration strategy aims to achieve this.

Annual reports

If you want to know who’s looking after your financial future and how, our annual reports are a great place to start. They also include the fund’s financial statements.


Significant event notices

You can rely on Brighter Super for clear and honest communication. We'll let you know about any material changes to our fund, including any changes that might affect your retirement savings.

Investment activities

The Board of Directors is responsible for investing your money to help build your retirement savings. We work with expert asset consultants to select well known and trusted professional investment managers who each have a specific area of expertise.

Our directors work with expert asset consultants to select trusted and professional investment managers who are then delegated the primary responsibility of investing your money to produce solid, long-term returns. Proxy voting is available to our appointed investment managers to help them achieve their investment objectives.

Target Market Determination

A Target Market Determination (TMD) sets out the target market for which a product has been designed, triggers to review the target market and certain other information. It forms part of LGIAsuper’s design and distribution framework for the product as required under the Corporations Act 2001 (Cth).

A TMD is not a Product Disclosure Statement (PDS) and does not provide a summary of the product features or terms of the product. These documents do not take into account any person’s individual objectives, financial situation or needs. Persons interested in acquiring a product should carefully read the PDS and consider obtaining financial advice before making a decision whether to buy the product.

The Fund has prepared a TMD for each Brighter Super product offered:

Brighter Super Accumulation account

Brighter Super Pension account

Brighter Super Transition to Retirement (TTR) account

Brighter Super Optimiser Accumulation account

Brighter Super Optimiser Pension account

Brighter Super Optimiser Transition to Retirement (TTR) account

LGIAsuper sells its investment in Bravura Solutions

In 2017, LGIAsuper invested in Bravura Solutions, the software provider of LGIAsuper’s superannuation administration platform. As a strategic investment, this investment should have been acquired from the General Reserve of the Fund rather than as an investment of the Fund.

In 2018, LGIAsuper sold this investment and a made a profit of $18.2m. These funds were transferred to the General Reserve to align with the strategic nature of the investment and the future benefits of the software for the Fund. The software has been transferred to the external administrator, who will maintain, enhance and provide the service back to the Fund as part of a 10-year contract. The short-term impact of this decision was a reduction in members’ investment earnings in 2018/19 which depended on your account type and investment option. For more information click here.

External service providers

Brighter Super employs a range of external service providers to help the fund run efficiently and meet all service standards. To help the fund run efficiently and provide maximum value to members, Brighter Super outsources some services.

 

Role/service outsourced Service provider ABN
Actuarial advice Willis Towers Watson 98 112 435 079
Administrator Tech Mahindra
TAL Life Limited
15 092 511 558
70 050 109 450
Asset consulting JANA 97 006 717 568
Audit - external PwC 52 780 433 757
Audit - internal Deloitte 74 490 121 060
Custodian National Australia Bank Limited (NAB Asset Servicing) 12 004 044 937
Group life insurer TAL
Zurich Australia Limited
70 050 109 450
92 000 010 195
Information services and technology Tech Mahindra 15 092 511 558
Investment management1 Alphinity Investment Management Pty Ltd
Altis Property Partners
ANZ Bank
Bell Asset Management Limited
DNR Capital Pty Ltd
First Sentier Investors (Australia) IM Ltd
Greencape Capital Pty Ltd
HarbourVest Partners L.P
IFM Investors Pty Ltd
Legg Mason Asset Management Australia Limited
LGT Capital Partners (Ireland) Limited
Longview Partners (Guernsey) Limited
Macquarie Investment Management Global Limited
Oaktree Capital Management L.P
Palisade Investment Partners
Payden & Rygel Global Limted
Pendal Institutional Limited
PIMCO Australia Pty Ltd
Plato Investment Management Limited
QIC Limited
Resolution Capital
Robeco
Robeco Hong Kong Limited
Royal London Asset Management Limited
ROC Capital Pty Limited
Sustainable Growth Advisers
TAL Life Limited
12 140 833 709
132 761 338
11 005 357 522
84 092 278 647
72 099 071 637
89 114 194 311
98 120 328 529
n/a
67 107 247 727
76 004 835 849
n/a
n/a
94 085 088 484
n/a
32 124 326 361
n/a
17 126 390 627
54 084 280 508
77 120 730 136
95 942 373 762
50 108 584 167
n/a
50 436 122 863
n/a
37 167 858 764
80 120 179 419
70 050 109 450
Legal advisors Ashurst
CNM Legal
Corrs Chambers Westgarth
Jones Day
Mills Oakley
75 304 286 095
89 498 731 012
89 690 832 091
59 206 613 356
25 894 617 673
Tax advisors PwC 52 780 433 757
Insurance broker Bluebook Insurance Brokers 18 623 039 707
Financial advice services Link Advice
Industry Fund Services
36 105 811 836
54 007 016 195
 
 

1. These investment managers represent only those who have been delegated ('outsourced') the responsibility to invest on the fund's behalf. For more information see our Investment managers & top holdings page.

Organise advice today

The best way to learn about improving your personal situation today and in the years ahead is to talk to our friendly and experienced financial advice team.

Get in touch