DomaCom sees bullish market for agribusiness
Fractional property investment platform, DomaCom, has remained bullish on agribusiness investment opportunities,in the wake of the recent sale of Kidman & Co to Gina Reinhart and Chinese interests, and launched a new crowdfunding campaign for a northern Queensland beef breeding property.
The company noted that fresh pastures would offer Australian investors the chance to buy a stake in its agribusiness, as people remained motivated to keep rural land in Australian hands and by the steady yield and capital gains they offered.
The Queensland property, which has been in the same family for the past 120 years, had a carrying capacity of 4500 head of cattle, with a long-term capacity to exceed this number.
DomaCom chief executive, Arthur Naoumidis, said: " What our crowdfunding proposal will allow is for this family to retain a significant amount of the equity in the DomaCom book-build, with the capital raised via crowdfunding to be used to pay off bank debt and allow the family to focus on operating the business".
"We will focus our energies on more attainable rural opportunities that we believe will have significant structural benefits for Australian farmers by keeping families on the land with a minimum of debt and helping prevent the sale of properties to overseas interests."
Recommended for you
Almost 70 per cent of asset managers are planning to control costs via product rationalisation, according to a global survey by Northern Trust, as they seek to offer clients a best-in-class experience.
Fund managers should work collaboratively with data providers to minimise greenwashing risks in their products as a positive ESG score can be a “gamechanger” for a fund’s demand with advisers.
Asset manager Janus Henderson has made two acquisitions in the ETFs and emerging markets space as it takes strategic steps to meet client needs.
Self-reporting issues to ASIC could lead to a reduced charge for a fund manager but it may not exempt them from enforcement action altogether, according to ASIC chair Joe Longo.