Industry funds outperformed master trusts in the month of August, according to the latest research from Chant West.
The sector performed a little better than master trusts, posting a loss of -0.4 per cent compared to -0.6 per cent for master trusts.
Industry funds, however, continued to hold the advantage over the longer term, outperforming master trusts by 1 per cent over five years and 1.3 per cent over 10 years.
The slightly stronger performance by industry funds in August was attributed to their lower weightings in listed shares, according to the Chant West report.
Overall, the volatile market turned down again in August, dragging the median growth superannuation fund return down by 0.5 per cent, the report said.
"Sharemarkets are the main drivers of growth fund performance, so fund returns tend to reflect what is happening in those markets," Chant West director Warren Chant said.
According to Chant, the median growth fund has posted five down months and three up months, with September looking like making it five down and four up.
"I expect this choppy pattern to continue until there are clear signs either that economic growth is back on track or that the world, led by the US, is heading back into recession," he said.
"Market sentiment is changing rapidly, almost from day to day, and there is no clear trend emerging."
