October 29 (SeeNews) - Bulgaria's financial regulator on Thursday gave the green light to local company Expat Asset Management to launch a low-risk mutual fund.
The new collective investment scheme, Expat Bonds, will invest in debt instruments and in other fixed-rate financial instruments, the Financial Supervision Commission said in a statement.
Expat Asset Management (www.expatasset.com), licensed in late 2007, is fully-owned by Bulgarian-based Expat Capital (www.expat.bg), active in corporate, real estate and capital market advisory services.
The asset manager already runs two mutual funds: the balanced Expat New Europe Properties and the high-risk Expat New Europe Stocks.
Bulgaria has some 40 locally-registered asset managers which operate some 100 mutual and investment funds.