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Dec 04, 2017 11:26 EEST
December 4 (SeeNews) - Bulgaria's financial regulator said it has given approval to Sofia-based investment and asset management company 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 Czech Republic and Romania, the Financial Supervision Commission (FSC) said in a statement late on Friday.
Expat Asset Management filed in March for approval from the FSC for the four ETFs.
The financial 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.
In October, Expat Asset Management said it has sought approval from Bulgaria’s financial regulator to launch six ETFs, each tracking the performance of the blue-chip indices of the stock exchanges in Croatia, Serbia, Slovenia, Slovakia, Hungary and Macedonia.
The regulator provided no information on the application for approval of the two ETFs which will follow the blue-chip indices of the stock exchanges in Hungary and Macedonia.
After their launch, all 10 ETFs will be listed on the Bulgarian Stock Exchange (BSE) and, subsequently, on foreign stock exchanges, Expat Asset Management has 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.
Expat Bulgaria SOFIX UCITS ETF closed flat at 1.224 levs ($0.74/0.62 euro) on Friday.
(1 euro = 1.95583 levs)
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