Brighter Super is committed to supporting Queensland and the energy sector with a planned $500 million investment.
As the super fund for Queensland’s energy industry, Brighter Super is backing its members through its Queensland Investment Strategy to add a further $500 million in new assets in the state on top of the $1 billion already invested in Queensland.
Brighter Super CEO, Kate Farrar, said the 50 per cent increase in investment in Queensland embodies our commitment to our members and to Queensland’s brighter future.
“Our ambition is rooted in our nearly 60 years of heritage supporting Queenslanders in their journey to retirement,’’ Ms Farrar said.
More than 70 per cent of Brighter Super’s 230,000* members live in Queensland, which has a population growth above the national average and significant economic opportunities in the leadup to the 2032 Brisbane Olympic Games and beyond.
A brighter future
Brighter Super’s existing $1 billion in assets in Queensland already underpins regional economies through investments in the Sunshine Coast Airport and the Central Queensland Livestock Exchange.
In Brisbane, through its investment in the Dexus Wholesale Property Fund, Brighter Super is backing the giant $2.5 billion Waterfront Brisbane project in the heart of Brisbane’s CBD.
New investments will be rigorously assessed and must be in the best financial interests of members, deliver strong returns, and through partnerships with investment managers and government, have a positive impact on the Queensland economy.
Brighter Super is assessing new investments in infrastructure, including energy and renewables, housing, property and agriculture.
Ms Farrar said, “the Queensland Investment Strategy would drive job creation in the state, deliver sustainable economic growth and create lasting impacts in our communities. Most importantly the investment strategy will help shape the future of Queensland and deliver long-term value to our members.”
“Our focus is on building a well-diversified portfolio for our members to help navigate uncertain times and to generate the returns our members need for their retirement in the years ahead,” Ms Farrar said.
Following the merger of LGIAsuper, Energy Super, and the acquisition of Suncorp Super, Brighter Super is the fourth-largest non-governmental financial institution in Queensland, managing more than $32 billion in retirement savings for its 230,000 members, as of 31 March 2024*.
“This means that we are big enough to make a difference for Queensland, whilst being small enough to provide the personal service and advice to help our members retire confidently.
“At a time when many in our industry are focusing on offshore investments, we are focused on making a difference for our members and Queensland,’’ Ms Farrar said.
*Based on assets under management non-government financial institutions in Queensland
For more information, visit www.brightersuper.com.au
Image credit: Brighter Super CEO, Kate Farrar. Image credit: Brighter Super.
