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
Licensing regulation should prioritise consumer outcomes over institutional convenience, according to Assured Support, and the compliance firm has suggested an alternative framework to the “licensed and self-licensed” model.
The chair of the Platinum Capital listed investment company admits the vehicle “is at a crossroads” in its 31-year history, with both L1 Capital and Wilson Asset Management bidding to take over its investment management.
AMP has settled on two court proceedings: one class action which affected superannuation members and a second regarding insurer policies.
With a large group of advisers expecting to exit before the 2026 education deadline, an industry expert shares how these practices can best prepare themselves for sale to compete in a “buyer’s market”.
