Investments, Property

DomaCom hits $50m in FUM

Fractional property investment specialist DomaCom has enjoyed a 20 per cent jump in its funds under management (FUM) since 31 January, resulting in the firm reaching the milestone of managing over $50 million of investors’ money.

Senior management is predicting this growth to continue on the back of some new business arrangements recently put in place.

“In the last two months, DomaCom has added 20 per cent to its FUM. We have seen a marked acceleration in deals on the platform and, in the coming months, as the company continues to draw down on its $50 million debt facility from La Trobe Financial, we can look forward to that acceleration trend continuing,” DomaCom chief executive Arthur Naoumidis said.

“DomaCom is in ongoing discussions with financial advisers that are looking to use our fractional investing platform and, now that we have a significant debt facility ‘at the ready’, they can utilise this property investment platform for their SMSF clients.

“The need for DomaCom’s platform has become particularly evident in the past few months as most large banks have pulled back their lending into the investment property market.”

Naoumidis noted the DomaCom offering may soon be the only way to use gearing to buy property within an SMSF if Labor is voted in at the federal election and follows through on its policy to ban limited recourse borrowing arrangements.

In addition to this point of difference, DomaCom remains confident its growth trajectory will continue due to the diverse range of properties it offers in which individuals can invest, including residential assets and commercial project developments in rural farmland, disability housing and renewable energy.

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