DomaCom increases assets under management by 16% to $83 million for FY21
- DomaCom Australia’s funds under management shoots up to $90 million
- DomaCom starts new financial year in much better position as it progresses AustAgri Group Ltd transaction settlement
- DomaCom CEO says deal with BlueCHP is great solution for affordable housing sector
Quick facts: DomaCom Australia Ltd
Price: 0.065 AUD
Market Cap: $19.88 m
About the company
DomaCom Australia Ltd (ASX:DCL) owns and operates a fractional investment platform that provides real solutions for SMSFs, retirees and new home buyers.
The company’s proprietary platform allows Australians to invest in almost any asset class, empowering them to create diversified portfolios with comparatively lower minimum investments and competitive cost structures.
DomaCom runs a crowdfunding campaign process in which investors can commit as much as they want towards the purchase of assets together with other like-minded investors.
How it is doing
DomaCom Australia Ltd (ASX:DCL) has witnessed continued growth for its DomaCom Fund over recent months, with funds under management (FUM) reaching the milestone level of $90 million in mid-September, powered by a 16.4% increase over the 4.5-month period since the start of May.
The dollar increase in FUM over this time of $12.7 million matched that achieved in the entire 12-month period prior to April 30, 2021.
DomaCom’s robust FUM growth has primarily been driven by increased adviser syndications for NDIS (National Disability Insurance Scheme) transactions executed through DomaCom’s fractional investment platform.
These deals have delivered high yielding income returns. They also represent attractive ESG investments.
DomaCom Ltd (ASX:DCL) proposes to undertake a private placement to sophisticated and wholesale investors aimed at raising almost $2 million before costs as it moves towards reinstatement of its shares on the ASX.
The company, which owns and operates a fractional investment platform, will issue up to 30,506,852 ordinary shares at a price of $0.06551 per share.
In September 2020, DomaCom announced that it had entered a conditional implementation agreement for the DomaCom Fund to acquire AAGL.
Insight: DomaCom starts new financial year in much better position as it progresses...
The fractional investment platform provider’s DomaCom Equity Mortgage product is also ready for an August 2021 launch.
What management says
DomaCom Limited's (ASX:DCL) Arthur Naoumidis speaks with Proactive's Andrew Scott following the news they've partnered with leading Australian community housing provider (CHP) BlueCHP Limited, to deliver up to $250 million in affordable housing for essential workers in 2021. The fractional investment platform provider and BlueCHP are targeting to start with an initial pilot project of $10 million.
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