DomaCom and DFS Portfolio Solutions launch sub-fund
DomaCom has announced an allocation to two mortgage investments by DFS Portfolio Services (DFSPS) branded Mortgage Fund, with approximately $4.1 million.
DFSPS would act as sub-manager with responsibility for decisions on portfolio composition and management, including, seeking vetting and recommending first mortgage opportunities, liaising with mortgage originators, arranging independent credit assessments, overseeing and managing timelines and liquidity management, and co-ordinating funding and managing cashflows.
“DomaCom has been working with DFSPS for some time to bring about a branded retail mortgage sub-fund on the DomaCom platform that can be accessed by advisers and portfolio managers,” DomaCom’s chief executive, Arthur Naoumidis.
“Until now this market was mostly accessed by sophisticated investors but as a model manager, DFSPS has unlocked the retail potential of the non-bank sector by making this sub-fund available to clients and advisers who utilise its portfolio services.”
Both companies collaborated over this project for over a year, aiming at the capability which would allow advisers to incorporate exposures to first mortgage investments within their client portfolios.
“We are pleased to be able to offer the AFSLs that use our portfolio service access to this unique opportunity and expect further demand in this sector going by the growing interest among new AFSLs,” Naoumidis said.
AUTHOR
Oksana Patron
Recommended for you
Outflows from an Australian private markets fund manager have caused FUM at Pacific Current to decline by $1 billion in the last quarter.
Former RIAA chief executive Simon O’Connor has joined the ethical advisory panel at U Ethical Investors.
Financial services leaders are “all cashed up with nowhere to grow” when it comes to M&A activity, according to Deloitte, with 90 per cent saying they have strong balance sheets ready for an acquisition.
As fund managers are urged to diversify their product ranges, they are finding a faster way to do this is via an acquisition of existing firms but experts say it is not without potential culture clashes.
