AMP’s SMSF subsidiary, SuperConcepts, has announced a partnership with a well-known property investment platform, as the company looks to leverage the popular investment trend of using SMSFs to buy property.
In a statement last week, SuperConcepts said it will be adding the DomaCom Fund to its iSaver service to provide SMSF trustees and their advisers with easier ways to access property investments.
The new partnership follows a recent analysis of SMSF investment trends by SuperConcepts that showed using SMSFs to buy property continues to be popular.
SuperConcepts chief customer officer James Fitzpatrick said, “The asset allocation to the property sector remains high at 20.6 per cent of investments for 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.”
DomaCom chief executive Arthur Naoumidis added, “We are delighted to be engaged with Australia’s leading SMSF platform.
“One of our goals in establishing DomaCom was to introduce some of the equity market concepts to the property asset class, in particular for SMSFs who find it difficult to include property because of the typical small balance relative to the high cost of property.”
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