Chant West's July survey found master trusts outperformed industry funds for the thirteenth time in the past 17 months, on the back of the strong performance of listed markets.
Industry funds on average posted an 8.1 per cent return over the past year, compared with master trusts, which posted a 9.8 per cent return.
Industry funds have, however, performed better than master trusts over the long term.
"Over the long term, however, industry funds continued to hold the advantage, outperforming industry funds by 1.3 per cent per annum over the 10 years to the end of July 2010," the report said.
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Overall, the report found the median growth superannuation fund delivered a 2.2 per cent return in July despite the tough global economy.
