Multi-manager funds race for domestic market share

Rothschild Australia Asset Management is aiming to launch a A$50 million ($26.28 million) fund of funds by year end, positioning for a domestic market that could grow to as much as A$5 billion in a few years' time.Seven domestic managers will be managing the Rothschild Total Return Fund, which charges 1% in management fee and 5% in performance fee, with a targeted investor base of high net worth individuals and institutional investors.Financial advisors with a high-end clientele will …