For the first time a management company in Bulgaria has delayed the drawing back of investment for months - this is Standard Asset Management. It has still not paid part of the orders of the Pension Insurance Company Future JSC, filed on 5 and 6 December. It becomes clear from decisions of the Financial Supervision Commission, which undertakes the management company to repay its debts up to four days by buying back the shares of its three mutual funds - Standard Investment High Yield Fund, Standard Investment Balanced Fund and Standard Investment Conservative Fund. By law, the buying back must be done up to ten days of filing the application, but in January the pension company complained that the obligation is not repaid.
Source: Capital (09.03.2012)