March 2 (SeeNews) - Bulgarian investment and asset management company Expat Asset Management said on Thursday it has sought approval from Bulgaria’s financial regulator to launch four exchange-traded funds (ETF).
Each of funds will track the performance of one of the blue-chip indexes of the Greek, Romanian, Czech and Polish bourses, Expat Asset Management said in a statement.
The four funds will be listed on the Sofia bourse, and consequently on other foreign exchanges, the company added.
The four countries markets been chosen after careful analysis of their stock exchanges and indexes, and have been deemed the most appropriate.
In August 2016, Expat Asset Management launched the first ETF on the Bulgarian bourse.
Expat Bulgaria SOFIX UCITS ETF [BUL:BGX] tracks the performance of the blue-chip SOFIX index of the Bulgarian Stock Exchange (BSE), by adhering to the method of full physical replication of the index.
In February, Expat Bulgaria SOFIX UCITS ETF received approval by the Financial Conduct Authority (FCA) for cross-listing on the London Stock Exchange (LSE).
Expat Bulgaria SOFIX UCITS ETF shares traded 0.17% higher at 1.169 levs ($0.63/0.60 euro) as at 14:00 CET on Thursday.
Expat Asset Management is a wholly-owned subsidiary of Expat Capital, which is currently managing private investment accounts and three mutual funds – Expat Emerging Markets Stocks, Expat Global Equities, and Expat Bonds.
(1 euro = 1.95583 levs)