Expat Bulgaria SOFIX UCITS ETF
Risk profile: High-risk
Investment focus: Shares of the SOFIX Index on the BSE
Minimum investment: None
Expat Bulgaria SOFIX UCITS ETF is the exchange-traded fund which tracks the performance of the SOFIX Index, using the direct physical replication method. The fund is traded on the Bulgarian Stock Exchange, on the London Stock Exchange, and on the Frankfurt Stock Exchange (XETRA). It is suitable for Bulgarian and foreign investors who want a liquid and diversified exposure to the Bulgarian market and the region as a whole.
|Market||Ticker||Ticker at Bloomberg||Ticker at Reuters||ISIN|
The indicative net asset value of the ETF (iNAV) can be found here (ISIN iNAV DE000A2J0QC5).
Exchange Traded Funds (ETF, Exchange-Traded Funds) invest in shares of companies in a particular index or sector, or in commodities, etc. Expat Bulgaria SOFIX UCITS ETF invests in the shares of the companies included in the SOFIX Index. The SOFIX Index is the main index of the Bulgarian Stock Exchange and consists of the 15 most liquid companies on BSE. The ETF invests in all SOFIX companies in proportions closely matching those of the index and within the legal limitations. The return of the fund follows that of the index – i.e. if the Bulgarian market goes up, the market value of the ETF shares would increase proportionally.
The ETF is an open-ended passively managed collective investment scheme.The fund does not pay dividend. The profit is reinvested, and this increases the net asset value of the fund to the benefit of investors.
Eligible investors can buy and sell their ETF units directly from and to the ETF in the primary market, while all investors can trade the ETF's units on the stock exchange (the secondary market).
Expat Bulgaria SOFIX UCITS ETF was licensed by the Financial Supervision Commission on August 19, 2016. It was listed on the BSE on September 27, 2016, on the Frankfurt Stock Exchange (XETRA) on Janyuary 10, 2018, and on London Stock Exchange on Oct 1, 2018. It is organized in full compliance with the EU UCITS directive.
The chart below shows the net asset value per share after the fund exceeded the minimum NAV of BGN 500 000 required under the Collective Investment Schemes Act.
At the beginning of June 2017, the Fund’s Rules were changed allowing the fund to replicate the reference index more closely. After those changes, there are no limitations for concentration of positions. For this reason, the chart of NAV/share and the SOFIX Index, normalized to start at 1, begins on 9 June 2017 – after the rebalancing of the fund according to the new rules. The chart for the period before June 2017 may be seen here.
- An easy and transparent way for investing in the Bulgarian stock market. Investors buy all the companies from the SOFIX Index. The portfolio of the index ETF is published and updated daily on the website of Expat Asset Management.
- Diversification. Investors gain exposure to the 15 largest and most liquid stocks on BSE. Diversification lowers the volatility of the investment.
- Superior liquidity. The Bulgarian index ETF is consistently among the most liquid positions on the BSE. The primary market for purchase and redemption of shares is also open every day to larger qualified investors.
- Easy to follow. There is no need to devote time and resources to analyze, pick and follow individual stocks. Index investing is a convenient and efficient macro play.
- No income tax for investors. Capital gains (profits) from instruments traded on the Bulgarian Stock Exchange are exempt from taxation in Bulgaria.
- No corporate taxation for the ETF. UCITS-compliant vehicles, such as the index ETF, are exempt from corporate taxation in Bulgaria.
- Low transaction fees. It is cheaper to invest in one instrument rather than in shares of multiple companies. There are no taxes in Bulgaria when buying and selling shares, only brokerage and settlement commissions.
- European regulation. The ETF is fully compliant with the UCITS directive of the European Union.
PRIMARY MARKET INFORMATION:
|Summary as of 21.01.2021|
|Net asset value per share||BGN 0.8416|
|Net asset value||BGN 9 653 664.54|
|Number of outstanding shares||11 470 000|
|The price for issuing or redemption of shares on the primamry market is equal to the NAV per share, calculated at the end of the day of the order, plus an issuance/redemption fee indicated in the prospectus or in a contract signed between the investor and the management company. The standard fee for orders on the primary market is 2% of the order amount.|
|Number of shares as of 21.01.2021|
|Number of shares already issued||11 470 000|
|New shares ordered for issuance in settlement||10 000|
|Shares ordered for redemption||20 000|
|Total number of shares||11 460 000|
|Orders on the primary market submitted by 3 p.m. on 21.01.2021|
|Orders for purchase of shares (number of shares)||0|
|Orders for redemption of shares (number of shares)||0|
|Since the beginning of the year||+11.40%|
|For the previous year||-22.07%|
|Since the beginning of the public offering (annualized)||-3.92%|
Net asset value per share, in BGN
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Expat Bulgaria SOFIX UCITS ETF NAV per unit compared to SOFIX Index close price – normalized to start at 1
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- Interim financial statеments for H1 2020
- Annual report on the activity of the fund, 2019
- Interim financial statеments for H1 2019
- Annual report on the activity of the fund, 2018
- Interim financial statments for H1 2018
- Annual report on the activity of the fund, 2017
- Semi-annual report, as of 30 June 2017
- Annual report on the activity of the fund, 2016
CustodianThe fund's Depository Bank keeps the assets of Expat Bulgaria SOFIX UCITS ETF and oversees its operations and the calculation of net asset value of the Fund.
London Stock Exchange 10 Paternoster Square, London, EC4M 7LS Tel.: +44 20 7797 1000 Web: www.londonstockexchange.com
Information agent in Germany
Floor specialist for Frankfurt Stock Exchange
UK Facilities Agent Details
Peterhouse Corporate Finance Limited 15 Eldon Street, London EC2M 7LD Tel.: +44 207 469 0930 E-mail: email@example.comContact Name: Les Brady, Head of Operations