DomaCom Fund names new RE

The DomaCom Fund has appointed Assetora as its new responsible entity (RE), replacing Melbourne Securities Corporation (MSC).

DomaCom Fund unitholders voted in favour of Assetora becoming the new RE with a 56% support rate as opposed to appointing BrickX, which only received 33% approval.

In March, ASX-listed DomaCom changed its name to Assetora and ticker code to AOH following shareholder approval.

MSC was appointed responsible entity of the fund in October 2017, replacing Perpetual Trust Services.

The DomaCom Fund has $200 million in assets and offers fractional investment in real estate across the NDIS, residential and commercial sectors.

It invests in underlying mortgage funds which invest in a unit trust with underlying exposure to registered mortgages.

Assetora chair Giuseppe Porcelli said: "This decision by unitholders reflects the confidence in our ability to manage the fund end-to-end, with greater agility and focus. Bringing the role of responsible entity in-house allows us to deliver faster responses, better oversight, and closer engagement with our investors - all of which are essential to rebuilding trust and delivering strong outcomes."

According to its 2024 annual report, the fund at the time was undertaking a strategic review of all NDIS assets.

"Fourteen properties are being held for sale due to ongoing challenges with certain NDIS related assets, including a shortage of NDIS participants and an oversupply of NDIS properties in certain locations. Once the planned sales are completed, remaining funds will be returned to unit holders," the report said.