DomaCom launches new fund
Arthur Naoumidis' latest play, DomaCom, this week came to market with a new product - the DomaCom fund.
The company received a product authority from the Australian Securities and Investments Commission (ASIC) to cover what it is promoting as "an innovative fraction investment product" in early December.
Naoumidis said the company had this week accepted its first application into the fund, which would provide investors with the ability to invest in residential, commercial and industrial properties.
DomaCom said its approach was based on a unique Managed Investment Scheme (MIS) sub-fund structure and that the launch of DomaCom's online liquidity facility meant investors could sell their individual property units.
The announcement said that with Perpetual serving as the Responsible Entity and Custodian, the DomaCom Fund had a solid foundation of corporate governance, which should give comfort to advisers when recommending the product to clients.
Recommended for you
Money Management examines the share price of financial advice licensees over one year to 31 March, with M&A actions in the final quarter having a positive effect for two licensees.
A $3.5 million settlement for victims of Melissa Caddick has been approved by the Federal Court following an initial agreement last December.
The Reserve Bank of Australia has delivered its first rate decision since the introduction of a new board structure last month.
Digital advice provider Otivo has launched an interactive tool, powered by artificial intelligence and Otivo’s own advice engine, to help answer client questions.
