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DomaCom signs major agreement
Crowdfunder DomaCom has signed a heads of agreement with a SMA platform provider which is expected to result in a $25 million allocation to the DomaCom fund.
DomaCom has signed an agreement with DFS Portfolio Solutions, which provides individually managed accounts (IMA) and separately managed accounts (SMA) platforms to both DFS Advisory Services as well as external boutique advisory firms.
DFS intents to invest in direct property by making an initial allocation of around $25 million to the DomaCom fund, with further allocations to follow.
DomaCom chief executive Arthur Naoumidis said the agreement demonstrates that “direct property can be included in an investment portfolio as part of an overall asset allocation strategy by investment model managers”.
“Including property within an asset allocation model is a core element of the DomaCom business model that we see as being a major driver of the growth in the funds under management (FUM) of the DomaCom Fund,” said Mr Naoumidis.
DFS Principal and head of research, Stephen Romic said DFS Portfolio Solutions would initially seek commercial, industrial and retail property to deliver a higher yielding asset class, and is working to identify suitable property advisors to source appropriate real assets for the offering.
Miranda Brownlee
Miranda Brownlee is the deputy editor of SMSF Adviser, which is the leading source of news, strategy and educational content for professionals working in the SMSF sector.
Since joining the team in 2014, Miranda has been responsible for breaking some of the biggest superannuation stories in Australia, and has reported extensively on technical strategy and legislative updates.
Miranda also has broad business and financial services reporting experience, having written for titles including Investor Daily, ifa and Accountants Daily.
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