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Investment update to 31 December 2023

Information for members with a Brighter Super account

Published 16 February 2024

Brighter Super’s MySuper option, the default option for Accumulation accounts, returned 10.40% in the 12 months ended 31 December 20231. This was the highest MySuper return for all Queensland-based industry funds for this period, according to the SuperRatings SR50 MySuper Index2

The tables below show the performance of our diversified investment options for Accumulation and Pension accounts for periods ended 31 December 2023. 

Table 1: Accumulation diversified options for Brighter Super accounts
Investment option 1-year returns to 31 December 2023 (%) 5-year returns to 31 December 2023 (%)
Growth 11.50  8.93
Balanced 10.08 7.33
MySuper 10.40 6.93
Stable 7.51 4.13
Secure 6.26 2.45
Diversified Fixed Interest 5.04 0.91
Table 2: Pension diversified options for Brighter Super accounts
Investment option 1-year returns to 31 December 2023 (%) 5-year returns to 31 December 2023 (%)
Growth 12.68 9.93
Balanced 11.18 7.96
Stable 8.13 4.80
Secure 6.76 2.50
Diversified Fixed Interest 5.59 0.32

How are your investments performing?

You can see how the investments for your super are performing by using the interactive performance graph on our website. 

Performance graphs can be displayed for all investment options and account types over a chosen period. Notes about the calculations are provided on the web page. 

See how your investments are performing 

Commentary on investment markets 

Global equity market performance was strong in December 2023. This was fuelled by expectations for major central banks to implement interest rate cuts during 2024, and evidence of inflation easing. The MSCI World Index, which tracks stock markets across 23 developed countries, recorded an increase of 4.0% for the month. 

The US equity market exhibited robust performance in December 2023, highlighted by the S&P 500 surging by 4.5%. All sectors delivered positive returns. The US economy demonstrated resilience in solid monthly consumer spending and a steady unemployment rate of 3.7%. Initial jobless claims also remained low. 

Both UK and the Eurozone equity markets also benefitted from softer inflation figures, which led to market expectations for potential rate cuts. However, economic data for these regions has not displayed the same level of resilience as the US. Business activity indicators in these regions showed signs of contraction, and Gross Domestic Product (GDP) figures contracted marginally in the September 2023 quarter.  

The MSCI Emerging Markets Index, which tracks stock markets across 24 emerging market countries, returned a more modest 1.0% increase over the month. Most regions delivered positive return except for China, where equity markets reflected investor concerns regarding the sufficiency of the Chinese government’s stimulus measures.  

The equity market in Australia experienced a robust rally, posting a significant gain of 7.2%. All sectors delivered positive results. Utilities had the lowest monthly return at 2.5%. The Australian economy expanded modestly, recording a 2.1% year-on-year growth rate to September 2023.  

Australian household spending has slowed, and unemployment remains low. Despite increased migration contributing to overall economic activity, a growing population combined with slowing growth resulted in lower GDP per capita. The Reserve Bank of Australia (RBA) maintained its policy rate at 4.35% at its final meeting of 2023, as it continues to target an inflation rate of 2-3%. 

Bond yields declined sharply throughout the month as markets adjusted to expectations of lower inflation and interest rates. In the US, the 10-year government bond yield fell by 48 basis points to 3.88%, while the Australian yield dropped by 45 basis points to 3.96%. 

The Australian Dollar (AUD) strengthened against other major currencies in December 2023, rising by 2.9% against the US Dollar (USD) and 2.2% against the Pound Sterling (GBP). 

Financial advice 

If you are considering a change to how your super is invested, talking to a financial adviser can often be helpful. 

If you already have a financial adviser, they can help you make informed decisions about your Brighter Super account. 

If you do not have a financial adviser, Brighter Super’s team of in-house financial advisers are here to help you. Find out more about financial advice or call us on 1800 444 396


  1. Returns are based on daily unit prices available to members. MySuper option returns are reported on a basis of soft close valuations and are net of investment fees and costs and transaction costs, net of taxes, and net of the percentage-based administration fee (accrued in the unit price). Investment returns are not guaranteed. Past performance is not a reliable indicator of future performance.
  2. SuperRatings Fund Crediting Rate Survey December 2023. Based on SR50 MySuper Index and SRP50 Balanced Index returns, 12-months to 31 December 2023. Refer to 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. 

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 may contain general advice which 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 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 https://www. 

This article contains information that 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 us on 1800 444 396 or by emailing us at