A new anisotropic magnetic fluid, called ferrosmectic, is obtained whe
n using a colloidal suspension of submicronic magnetic particles (ferr
ofluid), as a component in a smectic phase of fluid membranes. These l
amellar phases present specific magnetic properties. The anisotropy of
their magnetic susceptibilities as a function of particles concentrat
ion is studied and interpreted: a microscopic mechanism involving a st
eric hindrance between particles and membranes is used to understand t
he experimental results.