DomaCom hits $50m FUM milestone, grows 20% in past 75 days

Highlights:

Funds under management has grown by 20% since January 31 to $50 million

Further near-term FUM growth anticipated as DomaCom deploys capital from the La Trobe Financial debt facility

Launch of a new senior equity release product this quarter expected to further boost growth

DomaCom Limited (ASX: DCL) (DomaCom or the Company) is pleased to announce that the DomaCom Fund has grown its funds under management (FUM) to over $50m, an increase of 20% since 31 January 2019.

DomaCom CEO Arthur Naoumidis said, “In the last two months DomaCom has added 20% 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 $50m debt facility from La Trobe Financial, we can look forward to that acceleration trend continuing. 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. Furthermore, the potential for a change in Federal Government, and the changes that the Labour Party has already flagged for investment property, could result in DomaCom being one of the few remaining legal ways to access debt for property investment”.

DomaCom has a strong pipeline of residential property acquisitions and commercial project developments in renewable energy, disability housing and rural farmland that will help it to continue this strong growth trend in FUM over the coming months.

Separately, the Company’s senior equity release product, which it plans on launching this quarter, will offer a further avenue for substantial FUM growth as advisers expand their client reach to cater for this significant sector in the retirement market.

About DomaCom:

DomaCom Australia Limited AFSL 444365 is the owner and operator of the DomaCom investment platform (www.domacom.com). The platform seeks to provide the SMSF market and other long-term investors the opportunity to make fractional investments in a range of asset classes including property related investments, mortgage backed securities and debt securities they choose via a unique trust structure. Investments in DomaCom platform are facilitated in the DomaCom Fund ARSN 167 020 626 (Fund), a licensed managed Investment scheme registered with ASIC. The trustee and responsible entity of the Fund is Melbourne Securities Corporation Ltd AFSL 4282189, a part of MSC Group.

Media enquires:

Arthur Naoumidis CEO, DomaCom Australia Limited +61 411 958 084