A couple of points to consider:
Be careful using past performance as an indicator of future performance. Consider this, if a management team is getting good results guess what the competitors do......they poach them, leaving the B team to run the fun.
Consistent out performance of the average is pretty much impossible, 85% of managers failed to outperform the index last year and this is pretty common over the years.
Be careful thinking industry funds are "safe" options, in reality they're like any other fund with the largest component of performance coming down to asset allocation. In recent years some high profile industry funds have been caught not revaluing there assets to hide losses from investors. One particular funds that is currently amongst the top of the charts lost $500m of investors funds a few years because of some dodgy hedging.
In reality performance largely comes down to the underlying asset allocation of the fund/s and the cost of administrating the account, traditionally industry funds were cheap but that is not always the case these days with the banks etc getting very sharp, especially on the bigger account balances.
Taking advantage of free switches to move to the highest yielding fund doesn't work, history shows that chasing history's hero results in worse performance than picking a strategy and sticking to it. Switching also triggers capital gains tax at a rate of upto 15% which is a significant cost to recoup within the fund.
On a final note, watch bonds if you are trying to be very conservative as bonds can fall in value as interest rates rise. People are often shocked when their bond portfolio falls in value.
My tip is to talk to a financial planner who charges a fee for his/her advice, if they're any good they won't care what fund you use but they will help you build a long term strategy.
