Super funds have returned the 12th positive return in the last 13 months, according to Chant West.
The median growth fund was up 2.6 per cent in January, adding to a 10.9 per cent increase over the last seven months from 1 July 2012.
"Barring disasters, fund members can look forward to a fourth consecutive positive financial year return," Chant West director Warren Chant said.
Strong share market performance in January accounted for the growth fund performance. Australian shares were up 5 per cent while international shares gained 5.4 per cent in hedged terms and 4.6 per cent on an unhedged basis.
Listed property was another winner in January, with Australian real estate investment trusts (REITs) advancing 4.4 per cent and global REITs 3.7 per cent.
Chant said that although the GFC had not completely faded away, US shares were back at levels not seen since October 2007, while investors were finally feeling confident enough to start moving out of cash safe havens and back into equities.
"The same thing is happening in Australia and our share market has run up strongly, although we're still nearly 10 per cent off our all-time highs," he said.
More aggressive fund categories such as master trusts, which have a higher proportion invested in listed shares and listed property, produced the best financial year-to-date and one-year returns, due to the strong performance of those asset classes.
Master trusts outperformed industry funds in January, returning 2.8 per cent versus 2.6 per cent, although industry funds continued to hold steadier in the long term.
Over 10 years to the end of January, industry funds outperformed master trusts by 0.9 per cent per annum, returning an annualised 7.2 per cent compared to 6.3 per cent.
Chant said five- and -seven year returns were still weighed down by the "GFC effect", although 10-year returns had been steadily improving as the 'tech wreck' of late 2000 worked its way out of the equation.
