DomaCom enters securities market
Crowdfunder, DomaComa has received approval from the Australian Securities and Investments Commission (ASIC) to vary its Australian Financial Services (AFS) licence to allow the company to expand its range of investment options, including securities, for planners' clients.
The firm's chief executive, Arthur Naoumidis, said that DomaCom was also planning to launch mortgage bonds to help accelerate the property book builds.
"The varied AFS licence will allow us to offer peer-to-peer mortgage bond sub-funds and a fractional investment model for corporate bonds, with work well under way to issue a new product disclosure statement (PDS) to support these new products," he said.
"What DomaCom can achieve with mortgage and corporate bond products is to offer investors the opportunity to lock in yields that are more attractive than bank deposits, use the fractional model to allow them to invest with a minimum amount, and to have potential liquidity of trading using our liquidity facility.
"In essence, it's the same principle as property crowd-funding — opening up markets to investors who often don't have the capital to invest in the traditional ways in these assets."
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