Assetora Limited has been appointed as the new Responsible Entity of the DomaCom Fund, replacing Melbourne Securities Corporation Limited. This change is set to reopen the secondary market and resume new investments, signaling renewed investor confidence.
- Assetora appointed Responsible Entity with 56% unitholder support
- Replaces Melbourne Securities Corporation Limited as trustee
- Secondary market reopening and new investment activity enabled
- Strong backing reflects confidence in Assetora’s leadership
- Assetora aims for enhanced governance and investor engagement
A New Chapter for the DomaCom Fund
In a pivotal development for the DomaCom Fund, unitholders have voted to appoint Assetora Limited as the new Responsible Entity, replacing Melbourne Securities Corporation Limited (MSC). The decision, passed with 56.03% of votes in favour, marks a significant governance shift and sets the stage for renewed market activity.
The appointment follows MSC’s earlier announcement of its intention to retire, providing unitholders the opportunity to redefine the fund’s leadership. Assetora’s successful bid over competitor BrickX, which received only 35% support, underscores the market’s preference for Assetora’s strategic vision and operational capabilities.
Implications for Investors and Market Dynamics
One of the most immediate consequences of Assetora’s appointment is the planned reopening of the secondary market, which had been suspended under MSC’s stewardship. This reopening is expected to reinvigorate trading liquidity and attract fresh investment, potentially enhancing the fund’s valuation and appeal.
Assetora brings to the table an Australian Financial Services Licence (AFSL 444365) and an experienced management team already overseeing day-to-day operations. This consolidation of governance and management is designed to deliver faster decision-making, improved oversight, and closer investor engagement; factors that Chairman Giuseppe Porcelli highlighted as critical to rebuilding trust and delivering strong outcomes.
Strategic Focus and Future Outlook
Assetora positions itself as a technology-enabled platform prioritising transparency and operational excellence. The company’s in-house control of the Responsible Entity role is expected to streamline processes and enhance responsiveness to market conditions and investor needs.
While the announcement does not specify exact timelines for the secondary market’s reopening or detail forthcoming operational changes, the strong unitholder endorsement signals confidence in Assetora’s ability to navigate the fund’s next phase. Market participants will be watching closely to see how this governance change translates into performance and investor returns.
Bottom Line?
Assetora’s new stewardship could redefine the DomaCom Fund’s trajectory, but investors await tangible market reopening and performance signals.
Questions in the middle?
- When exactly will the secondary market for the DomaCom Fund reopen?
- How will Assetora’s management approach differ operationally from MSC’s?
- What impact will this governance change have on the fund’s performance and investor returns?