October 11 (SeeNews) - Bulgaria's Financial Supervision Commission (FSC) said that it has granted approval to local Expat Asset Management to set up an exchange-traded fund (ETF) named Expat Bulgaria Short SOFIX.
The SOFIX index is the Bulgarian Stock Exchange blue-chip benchmark, tracking 15 companies listed in Sofia.
The FSC also approved the prospectus for listing the ETF on the Bulgarian stock exchange, the financial regulator said in a statement on Thursday.
Currently, Expat Asset Management operates 11 exchange-traded funds (ETFs) tracking the performance of stock indices from the CEE region, including the SOFIX, and three mutual funds.
Expat Asset Management is a wholly-owned subsidiary of local Expat Capital.