AIOFP gives DomaCom product green light

In a statement issued yesterday, DomaCom chief executive Arthur Naoumidis said the industry association’s decision to include the new fund reflects its “progressive” nature.

“The AIOFP [is] the first industry body to approve the new DomaCom fractional property investing fund,” said Mr Naoumidis. “They are a progressive group who have seen early on the benefits that the fractional model delivers investors.”

AIOFP executive director Peter Johnston said the association’s Filtered Research Committee (FRC) approved the fund due to its suitability for advisers working with SMSF investors.

“The FRC feels comfortable with the DomaCom process and recognises the truly unique characteristics of the offering,” he said.

“With the popularity of direct property in the SMSF market, we feel DomaCom offers an ideal way to still operate within ASIC’s jurisdiction whilst getting a spread of geographical risk.”