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Dec 06, 2017 11:47 EEST
December 6 (SeeNews) - Bulgaria's financial regulator said it has asked Sofia-based investment and asset management company Expat Asset Management to make corrections to its documentation for the launch of two exchange-traded funds (ETFs).
The company should correct incomplete information in its documents within a month, FSC said in a statement on Monday.
One of the ETFs will follow the blue-chip index of the Macedonian Stock Exchange, the MBI10 while the other will follow the main index of the Budapest Stock Exchange, the BUX.
Last week, the FSC said it has given approval to Expat Asset Management to set up four exchange-traded funds (ETFs). Each of the four ETFs will track the performance of the blue-chip index of one of four stock exchanges in Central and Eastern Europe, i.e. the bourses of Greece, Poland.
The regulator also asked Expat Asset Management to correct its documentation for the launch of four other ETFs, which will follow the blue-chip indices of stock exchanges in Croatia, Serbia, Slovenia and Slovakia.
After their launch, all 10 ETFs will be listed on the Bulgarian Stock Exchange (BSE) and, subsequently, on foreign stock exchanges, Expat Asset Management said previously.
In August 2016, Expat Asset Management launched the first ETF on the BSE, Expat Bulgaria SOFIX UCITS ETF [BUL:BGX], which tracks the performance of the BSE's blue-chip SOFIX index.
As at 1015 CET on Wednesday, Expat Bulgaria SOFIX UCITS ETF units traded 1.66% higher at 1.222 levs ($0.74/0.62 euro).
(1 euro = 1.95583 levs)
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