The FCA registered Expat Bulgaria SOFIX UCITS ETF for trade in the UK
23.02.2017
On Feb 22, 2017, Expat Bulgaria SOFIX UCITS ETF was registered for trade by the Financial Conduct Authority (FCA) and can be marketed to investors in the UK. This is the first registration of a financial instrument licensed by the Bulgarian Financial Supervision Commission for trading on a foreign market. This event is a major step towards raising the image of the Bulgarian financial sector and the Bulgarian regulator abroad.
The confirmation of the FCA registration may be seen here: https://register.fca.org.uk/ShPo_ProductDetailPage?id=a3hb0000000HIrXAAW
The next step is the technical procedure of listing of the fund for trading on the London Stock Exchange (on the ETF segment of the regulated market).
Expat Bulgaria SOFIX UCITS ETF is the exchange-traded fund which tracks the performance of the SOFIX Index. The fund is compliant with the UCITS directive of the European Union. It is created and managed by Expat Asset Management and is traded on the Bulgarian Stock Exchange – Sofia with a ticker BGX.
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 – Sofia.
The cross-listing of the fund on the London Stock Exchange would ensure quick and easy access for global investors to the Bulgarian stock market. The aim is Expat Bulgaria SOFIX UCITS ETF to become the transmission of larger capital flows from foreign investors to the Bulgarian capital market, which, in turn, may lead to greater interest in the Bulgarian Stock Exchange – Sofia.
The managing company of the fund – Expat Asset Management – is the largest independent wealth management company in Bulgaria. Besides the ETF, the company manages three mutual funds with global focus, as well as hundreds of individual investment portfolios of clients from 26 countries.