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).
Brighter Super’s rules for nomination and appointment of directors are contained within the Trust Deed and the Fund’s Fit and Proper Policy.
LGIAsuper Trustee is responsible for managing Brighter Super in the best interests of members.
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.
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.
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.
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.
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:
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.
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|
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
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
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
67 107 247 727
76 004 835 849
94 085 088 484
32 124 326 361
17 126 390 627
54 084 280 508
77 120 730 136
95 942 373 762
50 108 584 167
50 436 122 863
37 167 858 764
80 120 179 419
70 050 109 450
Corrs Chambers Westgarth
|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.