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

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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 drawn 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 Labor 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.

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