viewDomaCom Ltd

DomaCom Australia well placed to operate remotely during COVID-19 crisis

The fractional investment platform’s target market is the financial planning industry which is generally well placed to operate using online services.

DomaCom Ltd - Domacom Australia well placed to operate remotely during Covid-19 crisis
Interest in some of DomaCom’s products has recently increased

DomaCom Australia Ltd (ASX:DCL) has confirmed that it has experienced minimum operational impact due to COVID-19 as it is a cloud-based business well-positioned to operate remotely.

Whilst all conferences and physical sales meetings have been cancelled, the company has transitioned to meetings via phone and Zoom which is working out well.

It is also worth noting that the fractional investment platform’s main target market is the financial planning industry which is generally well placed to interact using online services.

On the property fund operations, DomaCom is in good shape as:

Most properties are not leveraged so there is minimal vacancy risk for most of DomaCom’s property subfunds;

DomaCom generally has internal rent reserves to cover 3-4 months of rent in the case of vacancies.

Senior Equity Release product

Whilst the current environment is changing the method by which DomaCom interacts with its clients and prospects, interest in the company’s Senior Equity Release (SER) product has actually increased due to the impact of the market downturn to self-funded retirees who are struggling with reduced income and asset values.

DomaCom SER is coming into its own in this environment as:

DomaCom SER is the only financial product allowing retirees to top up their super by selling a fraction of their house. Reverse mortgage products do not comply with the Downsizer legislation;

Industry funds actively investigating the use of Downsizer legislation to allow their retirees to increase their retirement income by using DomaCom to sell a fraction of their house to top up their super.

Quick facts: DomaCom Ltd

Price: 0.038 AUD

Market: ASX
Market Cap: $9.31 m

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