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Oct 01, 2007 19:06 EEST
SOFIA (Bulgaria), October 1 (SeeNews) – Assets of Bulgarian mutual funds are likely to reach 3.0 billion levs ($2.2 billion/1.5 billion euro) at the end of 2009, the chief executive of asset management company KD Investments said on Monday.
“I suppose that the 1.0 billion levs threshold will be reached by the end of this year, while 3.0 billion levs is achievable at the end of 2009,” CEO Yanko Nikolov told a news conference.
Assets of the 42 local mutual funds in Bulgaria totalled 409.1 million levs at end-June. The capital market in the country, which joined the European Union in January, has been developing fast in the last couple of years as the incomes and financial culture of the population have developed steadily.
KD Investments, which is part of Slovenian financial company KD Group, has three mutual funds in Bulgaria and plans to launch another one in the first couple of months of 2008.
(1 euro = 1.95583 Bulgarian levs)
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