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First ETF with access to Bulgarian stock market launched on Xetra
More news from the Bulgarian market today, as the first exchange traded fund (ETF) issued by Expat Asset Management has been tradable on Xetra and Börse Frankfurt since Wednesday.
The Expat Bulgaria SOFIX UCITS ETF tracks the performance of the Bulgarian SOFIX Index, giving investors access to the Bulgarian stock exchange’s 15 most liquid stock corporations. The index is weighted by market capitalisation and comprises companies from a variety of sectors such as oil, finance and tourism.
We have started the year by adding a new ETF issuer for Xetra trading – Expat Asset Management. This new ETF enables investors to participate for the first time in the performance of the Bulgarian stock market, providing an interesting expansion of our product offering,” said Dr Martin Reck, Managing Director Cash Market at Deutsche Börse. “With this new listing at the very beginning of 2018 we are continuing the success of the previous year, where we won a total of three new issuers for our ETF segment.
Expat Bulgaria SOFIX UCITS ETF is designed to give investors liquid, diversified, transparent and cost-effective exposure to the Bulgarian equity market. It represents a unique market proposition which provides access to country-specific exposure for international investors, overcoming deficiencies such as lack of liquidity, lack of access and other technical factors typical for many of the CEE markets. We believe that the Frankfurt marketplace is the natural financial hub for trading the indices of the CEE countries globally and hope that the listing of this ETF on Xetra is the beginning of a long-lasting partnership with Deutsche Börse,” said Nicola Yankov, Chairman of the Board of Directors of Expat Asset Management.
Name: Expat Bulgaria SOFIX UCITS ETF
Asset class: equity index ETF
Ongoing charges p.a.: 1.38 percent
Distribution policy: accumulating
Benchmark: SOFIX Index
The product offering in Deutsche Börse’s XTF segment currently comprises a total of 1,206 exchange traded funds. This selection, together with an average monthly trading volume of around €11 billion, makes Xetra Europe’s leading trading venue for ETFs.