Bulgaria's Optima Asset Management Gets Regulatory Nod To Set Up Mutual Fund

The new outfit, Optima Select, will be a balanced fund, investing mainly in liquid shares, bonds and financial instruments with a fixed yield, the Financial Supervision Commission (FSC) said in a statement.

Optima Asset Management was licensed in July this year. It is 98%-owned by Bulgarian-based Sistec Holding. Two local businesswomen own the remainder with stakes of 1.0% each.

Bulgaria has over 25 asset managers which run about 60 mutual funds and investment trusts.