Fractional property investment platform DomaCom has appointed a new trustee for its managed investment scheme in an effort to allow investors to incorporate debt into their property investing.
In a statement, the company said the appointment of Melbourne Securities Corporation as trustee for DomaCom Fund would help the company in the delivery of “internal leverage and crowdfunding of mortgage-backed loans”.
DomaCom chief executive Arthur Naoumidis said allowing investors to incorporate debt will allow investors to achieve “a tax efficient outcome” from their property investing.
“This the final checkpoint in the approval process for DomaCom to introduce a range of new products underpinned by the ability to introduce gearing,” he said.
“It opens up a significant pool of investors to us, by enabling them to incorporate debt when investing in property. This will make property investment much more tax efficient for advisers and their clients, as well as reducing the amount of equity required to raise for each project.”
Melbourne Securities Corporation chief executive Matthew Fletcher said the company was “pleased to receive the endorsement from DomaCom Fund unitholders” and looked forward to working with the business.
“We believe in supporting innovative products such as DomaCom Fund which utilises exciting new technology to provide new and alternative investment options,” he said.
A Greens senator who was a key agitator for the royal commission has defended his reasoning in pushing for the inquiry, but conceded that it’s not c...
APRA’s sweeping changes to income protection policies are set to force more claimants back to work sooner, as the life insurance industry faces more...
The latest enforcement update from ASIC has noted that court cases brought by the regulator in the six months to December last year under its 'why not...