Investment update to 31 March 2026
5 May 2026
Staying on track through market volatility
Financial markets experienced sharp declines in early March 2026 as the Middle East conflict escalated, with markets recovering some ground into April.
While this volatility was unsettling, Brighter Super’s well-diversified portfolio remained resilient and helped absorb the impact of short-term volatility. Our disciplined investment strategy remained focused on delivering solid returns for members, supporting financial security and growth over the long term.
When markets become volatile, we encourage members to avoid rushed short-term decisions, stay invested and focus on their long-term goals.
For more on this, read our recent article, Keep calm and stay invested.
Welcome to our new Chief Investment Officer
A warm welcome to Damien Webb who has now started as Brighter Super’s new Chief Investment Officer (CIO).
Damien will oversee the fund’s $37 billion portfolio and brings three decades of experience across Australian and global markets. He has a strong track record developing and delivering investment strategies across diversified portfolios and was previously Deputy CIO and Head of International at Aware Super.
Our Interim CIO, David O’Donnell, is now our Deputy CIO. We thank David for managing a smooth transition following the retirement of Mark Rider at the end of 2025 and the arrival of Damien this month.
Read more about Damien Webb’s appointment.
How our diversified options performed
Brighter Super’s diversified options delivered solid returns in March 2026, as shown in SuperRatings’ latest Fund Crediting Rate Survey, which compares performance across the superannuation industry1.
Our Growth option continues to hold the #1 ranking over rolling seven years in the SR Growth Index (Accumulation accounts) and SRP Growth Index (Pension accounts), reflecting consistently strong long-term performance.
Our Conservative Balanced option was also ranked #1 over rolling seven years in its index again, for Accumulation and Pension accounts.
The table below shows returns for our diversified investment options for periods ended 31 March 20261.
|
Brighter Super investment option
|
Returns for periods ended 31 March 2026 (%)1 |
| 1 year |
3 year |
5 year |
7 year |
| Accumulation accounts |
| MySuper |
8.44% |
8.58% |
7.00% |
6.89% |
| Growth |
8.81% |
10.16% |
8.46% |
9.36% |
| Balanced |
7.58% |
8.93% |
7.15% |
8.07% |
| Conservative Balanced |
6.59% |
7.42% |
5.55% |
6.27% |
| Indexed Balanced |
7.23% |
9.48% |
7.53% |
– |
| Stable |
5.39% |
5.93% |
4.02% |
4.58% |
| Secure |
2.98% |
3.67% |
2.58% |
2.53% |
| Pension accounts |
| Growth |
9.68% |
11.30% |
9.43% |
10.48% |
| Balanced |
8.33% |
9.91% |
7.94% |
8.94% |
| Conservative Balanced |
7.22% |
8.30% |
6.15% |
6.98% |
| Indexed Balanced |
7.94% |
10.41% |
8.27% |
– |
| Stable |
6.03% |
6.75% |
4.57% |
5.18% |
| Secure |
3.47% |
4.10% |
2.67% |
2.68% |
This monthly Investment Update focuses on the performance of our diversified options, where most of our members are invested.
Brighter Super offers a range of investment options to suit different goals, timeframes and risk levels, including ready-made diversified options and single asset class options.
See the latest performance of our full set of investment options.
Looking back: global market trends in March 2026
Global developed market shares fell sharply in March as tensions in the Middle East escalated and investors reassessed risks to global growth and inflation. The MSCI World Index (AUD hedged) fell 5.7% over the month, but it is still up by 18.3% over the past twelve months.
US shares weakened in March, with the S&P 500 down 5.0%. Market performance was mainly affected by rising geopolitical risk and continued uncertainty over the timing and extent of monetary policy easing. Some economic data showed some inflationary pressures in the US economy. Given the potential impact on inflation from the Iran conflict, expectations have shifted toward the US Federal Reserve keeping rates at current levels over the next 12 months.
European shares underperformed other developed markets in March, as they are more vulnerable to energy price volatility. The MSCI Europe Index (in euros) fell 7.6% over the month. The European Central Bank kept policy rates unchanged but acknowledged increased uncertainty around inflation and economic activity.
Asian share markets dropped sharply in local currency terms, particularly in countries that rely on imported energy. Japanese shares weakened, with the MSCI Japan Index down 10.6%, driven by concerns of higher costs and tighter financial conditions. South Korean shares also fell, reversing gains from February. The MSCI Korea Index recorded its steepest drop since the global financial crisis, triggering a temporary pause in trading and ending the month down 20.6%.
Australian shares fell 7.3% over the month, driven by weaker global risk sentiment, softer commodity conditions, and increased uncertainty around domestic monetary policy.
Australian sector performance was broadly negative, led by Materials (‑13.2%), Information Technology (‑12.9%), and Property Trusts (‑11.2%). Energy was a notable outperformer, rising 19.2%, alongside Utilities (+4.9%) and Consumer Staples (+1.7%). However, Energy makes up less than 5% of the ASX 300, so its strong performance had a limited impact on the broader market. The Reserve Bank of Australia (RBA) raised the cash rate by 0.25% to 4.10% in March.
Government bond yields rose in March. US 10‑year Treasury yields increased 0.36% to 4.32%, and there were negative returns for overseas bonds of -1.9%. Australian 10‑year government bond yields rose 0.33% to 4.98%, and Australian bonds returned -1.4% over the month.
The Australian dollar weakened 3.9% against the US dollar over March. While further RBA tightening may offer some medium‑term support to the currency, short‑term pressures remain linked to global growth uncertainty and energy‑driven inflation risks.
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SuperRatings Fund Crediting Rate Survey, March 2026. Refer to superratings.com.au for further information about these results. The information is current as at the date of the SuperRatings Survey (released on 21 April 2026). Investment returns are only one factor to be considered when deciding whether to invest. Past performance is not a reliable indicator of future performance.
Returns are based on daily unit pricing valuations and are net of external investment manager fees, net of taxes and gross of all Brighter Super administration fees for all performance periods.
Brighter Super’s Growth option is in the SR Growth (77-90) Index for Accumulation accounts and the SRP Growth (77-90) Index for Pension accounts. Brighter Super’s Conservative Balanced option is in the SR Conservative Balanced (41-59) Index for Accumulation accounts and the SRP Conservative Balanced (41-59) Index for Pension accounts.
The information contained is up to date at the time of publishing. Some of the information may change following its release. Any questions can be referred to Brighter Super by calling 1800 444 396, or by emailing info@brightersuper.com.au.
Brighter Super Trustee (ABN 94 085 088 484) (AFSL 230511) (the Trustee) as trustee for Brighter Super (ABN 23 053 121 564) (RSE R1000160) (the 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.
You should obtain and consider the Product Disclosure Statement (PDS) and Target Market Determination (TMD) before making any decision to acquire any products. A TMD is a document that outlines the target market a product has been designed for. Find the PDSs and TMDs at brightersuper.com.au/pds-and-guides
This article provides general advice 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 adviser if you require advice which takes into account your personal financial circumstances.
