Banks edge closer to industry fund returns 21 January 2015 4:35PM Ian Rogers The gap between retail funds managed by banks and industry super funds narrowed over the year to December 2014.With an average return of 7.75 per cent, banks lagged industry super by just 0.55 percentage points, SuperRatings data shows.Over three, five, seven and ten years the gap was 1.09, 1.62, 1.9 and 1.66 percentage points.Asset allocation choices may inform the superior overall performance of industry super funds.SuperRatings put UniSuper, Hostplus, MTAA Super and Energy Super among its top ten performing balanced options over the year to 31 December 2014.