$34bn fund bets on outsourced model as industry giants turn inward

InvestorDaily

The $34 billion fund has seen a sizeable increase in scale in recent years, largely driven by a series of successful mergers. Born out of a merger between LGIAsuper and Energy Super in 2021, the resulting $22 billion entity became Brighter Super. Since then the fund has picked up Suncorp’s super business to expand beyond $30 billion. Recent years have seen the fund focus on scale, growth, and a more targeted investment strategy.

Some of Australia’s largest funds, including AustralianSuper, have set ambitious plans to manage more of its assets internally. However, the Queensland-based fund has maintained its management philosophy despite its growth. “Our view is that while there’s been additional scale benefits from the mergers that we’ve undertaken … we don’t see that there is a competitive advantage for us to actually insource,” Brighter Super’s chief investment officer, Mark Rider, told InvestorDaily.

The rest of this article can be found at investordaily.com.au.