DomaCom Financial Services Guide
This Financial Services Guide (FSG) is issued by DomaCom Australia Limited (DomaCom) ABN 33 153 951 770 Australian Financial Service License No. 444365 (AFSL) as the Fund Manager of the DomaCom Fund ARSN 167 020 626 (Fund).
The Trustee and the issuer of interests in the Fund are Melbourne Securities Corporation Ltd ABN 57 160 326 545, AFSL No. 428289 (MSC).
The main purpose of this FSG is to provide information about the financial services provided by DomaCom, (‘us’ and ‘we’) and is designed to assist a potential retail client in deciding whether to use any of the services offered in this FSG and to identify:
- who is offering the service and their contact details;
- potential conflicts of interest;
- the services we are authorised to provide;
- fees and charges that are paid to us; and
- how we deal with complaints.
Other documents you may receive before investing in the Fund, you will need to obtain a copy of the Product Disclosure Statement (PDS).
A PDS is an important document designed to explain the key features of a financial product. A PDS includes information about fees and charges, key features of the product, risks, tax information, dispute resolution and cooling-off rights amongst other things. You can download a copy of the relevant PDS from our website www.domacom.com.au or call our Client Services team on 1300 365 930.
Contact details If you have any questions about any of the content of this FSG, our services or to request any further information, please contact:
Platform and Client Service Manager
DomaCom Australia Limited
Level 6, 99 Queen Street
Melbourne, Victoria 3000
Phone: 1300 365 930
Warnings where ‘general advice’ is provided
We only provide general financial product advice to wholesale and retail investors in respect of the Fund. As such, any information or advice we provide does not take into account your objectives, financial situation or needs.
Accordingly, before acting on any information or general advice we provide (including deciding whether to acquire or hold a product), investors should consider the appropriateness of such advice or information to their particular circumstances and read the Product Disclosure Statement (PDS) for the Fund, available on the DomaCom website at www.domacom.com.au or by phoning 1300 365 930.
The purpose of the PDS is to provide you with the information necessary to make a decision as to whether or not to invest in the Fund.
What financial services are available through DomaCom?
DomaCom holds an AFSL (No. 444365) under the Corporations Act 2001 (Cth). DomaCom is authorised under its AFSL to provide general financial product advice to retail and wholesale clients on the following classes of financial products:
• deposit and payment products limited to basic deposit products and securities; and
• interests in managed investment schemes excluding investor directed portfolio services.
DomaCom is also authorised to deal in financial products.
In particular, DomaCom is authorised to:
• issue, apply for, acquire, vary or dispose of interests in managed investment schemes excluding investor directed portfolio services; and
• apply for, acquire, vary or dispose of a financial product on behalf of another person in respect of deposit and payment products limited to basic deposit products and securities.
DomaCom is also authorised to make a market in units in sub-funds of the Fund. DomaCom intends to make a market in units (that is, to regularly state prices at which it is willing to buy and sell units in a sub-fund) and it will provide the facility for the buying and selling of units on the DomaCom platform. DomaCom acting on its own behalf, may bid or offer to buy and sell units in a sub-fund from time to time, at its discretion entirely and will stipulate the prices at which it will do so.
MSC is the issuer of the financial product under the PDS and the relevant supplementary Product Disclosure Statement. However, MSC is not involved in any way with the liquidity facility. When providing these financial services, we act on our own behalf.
Our Client Services team does not have any alliance with any other fund manager.
What are the fees, charges and commissions?
Managing the Fund DomaCom does not charge retail clients fees for any information or general advice provided to retail clients. DomaCom as Manager of the Fund receives a management fee from MSC. The fees payable for investing in the Fund are described in detail in the PDS which is available on Product Disclosure Statement.
Where there is an Advice Fee set out in the Supplementary Product Disclosure Statement (SPDS) payable to an Adviser and no adviser is nominated then DomaCom may receive this fee as a General Advice Fee. DomaCom does not provide personal advice.
The management fee payable to DomaCom cannot exceed 0.22% per annum (inc. GST) for the value of investments in the Fund Cash Pool (as defined in the PDS), and 0.88% per annum (inc. GST) for the value of investments in a sub-fund of the Fund (as defined in the PDS). (Note: from these fees DomaCom pays the Trustee and Custodian fees)
There are no commissions payable to DomaCom for any general advice or services delivered.
No rebates are payable to DomaCom in relation to its services relating to the Fund.
DomaCom staff receive a salary that incorporates base salary along with bonuses and other benefits from time to time.
Making a Market
DomaCom will charge a fee of 0.55% inclusive of GST on the consideration it pays or receives when it buys or sells units in a sub-fund in the course of making a market for those units. Of this fee, DomaCom will pass 0.523% to HALO Technologies Pty Ltd (HALO) as payment as part of the arrangement where HALO has agreed to manage the liquidity facility for the DomaCom Fund.
Insurance and Compensation coverage
Under the Corporations Act 2001 (Cth) (Act), and regulations made under that Act, DomaCom as the holder of an Australian Financial Services Licence is required to have professional indemnity insurance that is adequate having regard to the nature of our business and the potential for compensation claims. DomaCom has a Managers’ insurance policy in place which covers professional indemnity, crime, information technology and directors’ and officers’ liability insurance. DomaCom is satisfied with the adequacy of that cover. The cover available to DomaCom extends to include losses arising from the conduct of former employees or representatives of DomaCom (which occurred during their employment with, or service for DomaCom) as if those persons were still employed by or were still representatives of DomaCom. Senior Management reviews the insurance coverage and policies annually. These arrangements satisfy the requirements for compensation as required under the Act.
Providing instructions to us
Unless otherwise stated in the relevant PDS or offer document, we require that you provide all instructions to us in writing, signed by you. Where those instructions are of a purely administrative nature, we will act in accordance with those instructions. Otherwise, we will consider those instructions in accordance with our legal obligations.
Complaints Procedure and Compensation Arrangements
- If you have a complaint the Trustee has internal and external dispute resolution procedures in place to deal with investor complaints. If you have a complaint please contact either the Manager (DomaCom Australia Limited ABN 33 153 951 770) on 1300 365 930 or the Trustee (Melbourne Securities Corporation Ltd ABN 57 160 326 545) on 03 9639 9000 or in writing by email to firstname.lastname@example.org / email@example.com.
Please provide the following information in your correspondence or discussion:
- your contact details including name, address, telephone numbers, email and fax, where applicable;
- what aspect of DomaCom service it relates to;
- nature of the concern;
- relevant dates and parties involved;
- the relevant remedy sought; and
- any other relevant information.
We will consider and respond to your complaint in writing within 2 weeks of receipt by DomaCom Australia Limited, if not resolved it will be forwarded to and dealt with by the Trustee. The Trustee must consider and deal with complaints within 30 days of receipt. If you are not satisfied with the handling of your complaint or the decision the Trustee has made in relation to your complaint, you may contact and lodge a complaint with the Australian Financial Complaints Authority or AFCA. (the Trustee’s member number is 31446).
Both the licensee and the Trustee are members of AFCA, which replaced the Financial Ombudsman Service (FOS) from 1 November 2018.
Australian Financial Complaints Authority or AFCA
Mail: GPO Box 3, Melbourne, Victoria, 3001
Phone: 1800 931 678
Both the internal and external services are provided to you free of charge.
Date of Preparation: 10 August 2020