DomaCom added to Lonsec platform

13-Feb-2014

By Krystine Lumanta

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DomaCom has signed an integration agreement with Lonsec to allow the online fractional property fund to be available on the research firm’s platform.

The deal will further extend DomaCom’s reach into the broader market of advisers and superannuation funds.

“We are impressed with the level of interest among our clients who are keen for a property asset class solution, particularly in the residential space, and we are excited to be one of the first platforms to integrate with DomaCom,” Lonsec director Alfons Fiorino said.

The DomaCom Fund, which was launched on 5 February, enabled investors to select from over 18,000 properties of their choice online to invest in via a properly licensed and accredited financial adviser.

The online accreditation process via Mentor Education Group was put in place to ensure advisers were fully conversant with the product and able to communicate the product structure to their clients.

One of the aspects of the DomaCom property trust is a liquidity facility that enables investors to sell their units, as opposed to relying on the outdated redemption process, which is the current exit process for property trusts and mortgage funds.

Earlier this week, DomaCom announced it had aligned with the Association of Independently Owned Financial Professionals, after the industry body approved the fund for its members following the completion of due diligence.

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