SuperConcepts has added the DomaCom Fund to its low-cost fund administration service, iSaver, for SMSFs holding simple assets.
The partnership will provide SMSF trustees and their advisers with an easier way to access property investments through DomaCom’s fractional investment philosophy, which breaks down the high cost of property to achieve specific asset allocation in the sector.
The announcement follows a recent analysis of SMSF investment trends by SuperConcepts that showed using SMSFs to buy property continued to be popular.
“The asset allocation to the property sector remains high at 20.6 per cent of investments in the September 2016 quarter and the addition of the DomaCom Fund will provide an innovative solution for our SMSF clients with an appetite for property investment,” SuperConcepts chief customer officer James Fitzpatrick said.
DomaCom chief executive Arthur Naoumidis said one of the company’s goals was to introduce some equity market concepts to the property class, in particular for SMSFs that were finding it difficult to include property due to their typical small balance relative to the high cost of property.
Under the 12-month mutually exclusive distribution agreement with DomaCom, iSaver will add DomaCom property investments to this list at no additional cost.
The update to iSaver is part of SuperConcepts’ ongoing commitment to provide a leading SMSF solution and high-quality service to accountants and advisers.