A new anisotropic magnetic fluid, called ferrosmectic, is obtained when using a colloidal suspension of submicronic magnetic particles (ferrofluid), as a component in a smectic phase of fluid membranes. These lamellar phases present specific magnetic properties. The anisotropy of their magnetic susceptilities as a function of particles concentration is studied and interpreted : a microscopic mechanism involving a steric hindrance between particles and membranes is used to understand the experimental results.