Advice firm completes first DomaCom book build

22-Jul-2014

By Krystine Lumanta

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Sydney financial planning firm Shartru Wealth Management has completed the first book build in the DomaCom Fund to crowd-fund the first private property syndicates for the managed investment scheme, with further raisings underway.

The DomaCom Fund, launched in February, enables investors to select from over 18,000 properties online.

Through the fund, Shartru had introduced 30 investors into the residential property investment market who might otherwise have not been able to afford an investment property, principal Rob Coyte said yesterday.

“The beauty of the DomaCom model is that we can offer a diversified portfolio of investment properties to our clients, who don’t have to borrow to get into the market and we can give them the right asset allocation for their circumstances,” Coyte said.

“They will get a competitive yield on fully tenanted and professionally managed properties, and a share of the capital value proportionate to their investment.

“Liquidity is less of a concern in this fund as DomaCom are launching an online secondary market in the coming weeks, so our clients always have an exit strategy if need be.”

Following its initial book build, DomaCom chief executive Arthur Naoumidis said that style of property trust should appeal to many advisers.

“They can take comfort that the DomaCom Fund has no internal debt and a unique liquidity facility that eliminates any chance of the fund freezing,” Naoumidis said.

“It accommodates any type of property in any location and fully supports an adviser’s asset allocation strategy for clients.

“We look forward to assisting Shartru with their future book builds and introducing advisers to this innovative market.”

Last week, DomaCom announced Queensland-based GSP Wealth was the latest dealer group to approve the fractional property fund, which brought the total number of advisers with the fund on their approved product list (APL) to almost 400.

In May, DomaCom signed an agreement with Beacon Financial Group, which added the fund to the financial services firm’s APL. It was also added to the Lonsec platform in February.


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