Multi-manager funds race for domestic market share

Australia may have four fund of funds by year end, two of which hope to disprove managers with less-defined strategies are second-rate.

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.

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