Self-managed superannuation funds (SMSFs) continue to maintain the largest market share, according to the latest report from Tria Investment Partners.
SMSFs had 31.2 per cent of the superannuation market as at December 2009, up slightly from 28.4 per cent in June 2007.
People's desire for self-control remains one of the factors behind the growth of SMSFs, according to Tria Investment Partners managing partner Andrew Baker.
"The generally-cited drivers are investment control and a belief members can achieve better returns than collective funds, such as industry funds and retail funds," Baker said.
"The scale of this segment suggests a substantial rejection of or counter-movement to the collective system."
Industry superannuation funds represented the next largest segment, holding 17.8 per cent of the market compared with 16.4 per cent in June 2007.
Retail superannuation funds fell slightly from 30.8 per cent in June 2007 to 28.1 per cent in December 2009.
Baker said the distinction between industry funds and retail funds could blur in the future.
"Industry funds and retail funds are already starting to blur, and this will even be more the case when retail funds offer unbundled advice costs," he said.
"I think we will have a future where we compare industry funds and retail funds in a single universe rather than as separate categories at present."
