January 5 (SeeNews) - Sofia-based investment and asset management company Expat Asset Management said on Friday it has received approval from the Bulgarian financial regulator to set up six new exchange-traded funds (ETFs).
Each of the six ETFs will track the performance of the blue-chip index of one of six stock exchanges in Central and Eastern Europe, i.e. the bourses of Croatia, Hungary, Macedonia, Serbia, Slovakia and Slovenia, the company said in a statement.
On Wednesday, Expat Asset Management said its four other new ETFs, which will track the blue-chip indices of the stock exchanges in Greece, Poland, the Czech Republic and Romania, met the legal requirement for minimum net asset value of 100,000 levs ($61,460/51,130 euro).
The company plans to list all ten ETFs on the Bulgarian Stock Exchange and, subsequently, on foreign stock exchanges.
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 Asset Management is a unit of Bulgaria's Expat Capital.
(1 euro = 1.95583 levs)