The Australian Industrial Relations Commission (AIRC) has faced criticism for an apparent lack of rigour and transparency while determining a range of default superannuation funds for employers covered by modern awards.
Submissions to the AIRC’s award modernisation project show the commission was reluctant to analyse the investment performance of the chosen default funds, even after the federal minister responsible for superannuation, Nick Sherry, made it clear such assessments would be prudent.
Nick Basile will start next Monday as investment director of another major boutique incubator, after resigning as chief executive of Westpac-owned Ascalon Capital Managers late last year. 
Michael Ohlsson, the former chief executive of Fidelity International in Australia, has joined a global financial markets trading firm with the brief to launch its funds management arm with external clients.
