SuperConcepts has announced a partnership with DomaCom to provide SMSF trustees and their advisers with easier ways to access property investments. The fractional nature of the DomaCom Fund breaks down the high cost of property allowing advisers to achieve specific asset allocation in the sector.
The new development follows a recent analysis of SMSF investment trends by SuperConcepts which showed using SMSFs to buy property continues to be popular.
In announcing this new development James Fitzpatrick, Chief Customer Officer at SuperConcepts, said, “The asset allocation to the property sector remains high at 20.6 per cent of investments for the September 2016 quarter and the addition of the DomaCom Fund will provide an innovative solution for our SMSF clients with an appetite for property investment.”
Commenting on the partnership DomaCom CEO Arthur Naoumidis said, “We are delighted to be engaged with Australia’s leading SMSF platform. One of our goals in establishing DomaCom was to introduce some of the equity market concepts to the property asset class, in particular for SMSFs who find it difficult to include property because of the typical small balance relative to the high cost of property.”
The update to iSaver is part of SuperConcepts’ ongoing commitment to provide a leading SMSF technology solution and high-quality service to accountants and advisers, helping to improve their business.
iSaver offers a low-cost fund administration service for SMSFs holding simple assets such as cash, term deposits and domestic shares. Under the 12 month mutually exclusive distribution agreement with DomaCom, iSaver will add DomaCom property investments to this list at no additional cost.