Spring FG and DomaCom join forces for multi-property solution
Spring Financial Group and DomaCom have teamed up to offer multi-property residential portfolios through DomaCom' s fractional investment platform.
According to DomaCom chief executive Arthur Naoumidis, the partnership with Spring FG will allow financial advisers to offer a direct property solution to their clients with "immediate diversification" across multiple properties, developers and locations.
"The multi-property portfolios prepared by Spring Financial Group are available for as little as $10,000, giving the investor exposure to up to five properties in different geographic locations," a joint statement from DomaCom and Spring FG said.
"An investment of $100,000 gives the investor exposure to up to 15 properties in different geographic locations.
"The model portfolios offered in this first tranche comprise a total of around $25 million of high-quality inner-city Melbourne and Brisbane residential assets developed by Australia's leading public and private company developers," the statement said.
Commenting on the offering, Spring FG chief executive Keith Cullen said this is the first time a diversified portfolio of property has been made available to investors in the same way as a model portfolio of equities might be offered.
Both Mr Cullen and Mr Naoumidis said the scheme is not a crowdfunding one but a registered managed investment one.
The partnership follows Spring FG's recent approval of the DomaCom platform on its approved product list.
Court confirms wealth directors breached duties
The Federal Court has dismissed the appeal from two directors of a collapsed fin...
ATO should administer early super scheme
An actuarial body has suggested the Tax Office should be responsible for adminis...
Practice Profile: Where digital meets personal
While the uptake of robo-advice has been slow in Australia, one advice firm has ...