Expat Serbia BELEX15 UCITS ETF

Risk profile: High-risk

Investment focus: Shares of the BELEX15 Index on the Belgrade Stock Exchange

Minimum investment: None

Expat Serbia BELEX15 UCITS ETF is an exchange-traded fund which tracks the performance of the BELEX15 Index on the Belgrade Stock Exchange, using the direct physical replication method. It is listed on the Bulgarian Stock Exchange and on Frankfurt Stock Exchange (XETRA). It is suitable for Bulgarian and foreign investors who want a liquid and diversified exposure to the Serbian market and the region as a whole.

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Market Ticker Ticker at Bloomberg Ticker at  Reuters ISIN
BSE ESNB ESNB BU   BGSRBBE05183
XETRA ESNB GY ESNB.DE

The indicative net asset value of the ETF (iNAV) can be found here (ISIN iNAV DE000A2LZV29).

Exchange Traded Funds (ETF, Exchange-Traded Funds) invest in shares of companies in a particular index or sector, or in commodities, etc. Expat Serbia BELEX15 UCITS ETF invests in the shares of the companies included in the BELEX15 Index. This is the main equity index of the Belgrade Stock Exchange and consists of 11 companies. The ETF invests in all BELEX15 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 Serbian 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 shares directly from and to the ETF in the primary market, while all investors can trade the ETF's shares on the stock exchange (the secondary market).

Expat Serbia BELEX15 UCITS ETF was licensed by the Financial Supervision Commission on Jan 4, 2018. It is organized in full compliance with the EU UCITS directive.

Advantages:

  • An easy and transparent way for investing in the Serbian stock market. Investors buy all the companies from the BELEX15 Index. The portfolio of the index ETF is published and updated daily on the Expat’s website.
  • Diversification. Investors gain exposure to the largest and most liquid stocks on the Belgrade Stock Exchange. Diversification lowers the volatility of the investment.
  • Superior liquidity. The market makers of the fund maintain buy and sell quotes and ensure that the shares can be traded at any time. 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 – Sofia 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.

ΞPortfolio Structure & Basket of Securities as of 6 December 2018Ξ

 

Summary as of 06.12.2018
Net asset value per share EUR 0.8830
Net asset value EUR 70 640.22
Number of outstanding shares 80 000
Eligible investors can buy and sell shares in the primary market. 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 06.12.2018
Number of shares already issued 80 000
New shares ordered for issuance in settlement 0
Shares ordered for redemption 0
Total number of shares 80 000
Orders on the primary market submitted by 3 p.m. on 06.12.2018
Orders for purchase of shares (number of shares) 0
Orders for redemption of shares (number of shares) 0

Net asset value per share, in EUR

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Expat Serbia BELEX15 UCITS ETF NAV per unit compared to BELEX15 Index close price – normalized to start at 1

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Managing company

Expat Asset Management Sofia, 96A G. S. Rakovski Str. Tel.: +359 2 980 1881 Fax: +359 2 980 7472 E-mail: office@expat.bg Web: www.expat.bg

Custodian

Eurobank Bulgaria Sofia, 260 Okolovrasten pat Blvd. Tel.: +359 2 816 6215 Fax: +359 2 988 8191 E-mail: custody@postbank.bg Web: www.postbank.bg

Market

Bulgarian Stock Exchange Sofia, 6 Tri ushi Str. Tel.: +359 2 937 0934 Fax: +359 2 937 0946 E-mail: bse@bse-sofia.bg Web: www.bse-sofia.bg

Market

Frankfurt Stock Exchange (XETRA) 4 Börsenplatz, Frankfurt, Germany Tel.: +49 69 211 18310 E-mail: boerse-frankfurt@deutsche-boerse.com Web: www.boerse-frankfurt.de

Marketmaker

Benchmark Finance Sofia, 19 Viskyar planina Str. Tel.: +359 2 625 481 Fax: +359 2 625 388 E-mail: office@benchmark.bg Web: www.benchmark.bg

Marketmaker

Lang & Schwarz Breite Strasse 34, 40213 Duesseldorf Tel.: +49 211 138 40 404 E-mail: public-relations@ls-d.de Web: www.ls-d.de

Floor specialist for Frankfurt Stock Exchange

Steubing AG Goethestraße 29 , D-60313 Frankfurt am Main Tel.: +49 69 297 160 E-mail: info@steubing.com Web: www.steubing.com

Information agent in Germany

Zeidler Legal Services Rechtsanwaltsgesellschaft mbH Bettinastrasse 48, 60325 Frankfurt, Germany Tel.: +49 69 99 99 97610 E-mail: contact@zeidlerlegalservices.com Web: www.zeidlerlegalservices.com