ELANA Group Bulgaria - Corporate Profile 2019 (EN language)

www.elana.net www.elana.net/trading www.elana.net/fund-management www.elana.net/investment agrocredit.elana.net

28 years ELANA: Tradition & innovation
 ELANA Financial Holding is part of one of the largest groups in the non-banking financial sector in
Bulgaria comprising companies in the lead of their markets.
 ELANA was started 28 ago as a brokerage and has grown into a family of market leaders in: financial
markets’ services, asset management, EU funding consultancy, farm land investment and financial
services related to agricultural sector, renewable energy investment, public funds management.
 ELANA group has established itself as an innovative institution in Bulgarian finance and investment,
holding the responsibility for a series of start ups in the sector, such as: founding some of the first
mutual funds, managing the first public offering on the Bulgarian Stock Exchange as well as
implementing the first corporate bond issue, establishing the first fund for investing in agricultural
land, being selected to be the first private fund manager of a public financial institution, etc.
 ELANA group companies were recognized by industries and public via 61 national and international
awards for 28 years.

ELANA Mission
Our mission
 Is to provide a wide range of investment products & services to institutional and individual investors
and help them achieve their objectives by constantly maintaining the highest standards of
professionalism and performance.
We believe
 Our human capital and our integrity in building partnerships with our customers are the key factors to
our success as well as the reason for upholding a leading position on the Bulgarian financial market.
Our vision
 We maintain the position of a premier Bulgarian investment company, which is always the preferred
credible partner by offering the highest quality investment solutions based on professionalism,
integrity, transparency and solid experience. Building stable relationships with our business partners is
our foremost objective.

ELANA Group Portfolio
Asset management
ELANA Fund Management
 17 years in Top 5 of asset managers
 Started the first mutual fund
 Manages 7 UCITs funds and individual portfolios
 Approx. EUR 70 mln. AUM
 Recognized by 30 national and international
awards
Public funds management
Bulgarian Energy Efficiency and
Renewable Sources Fund
 14 years promotion of energy efficiency
 Fund Management granted via World Bank
 Selected as the first private fund manager of a
public fund
Regional Urban Development Fund
 Jessica Funds granted by EIB
 Partner of Societe Generale Expressbank
 Second term of fund management – Northern
Bulgaria
Brokerage & investment banking
ELANA Trading
 28 years a licensed broker in the Top 5
 Full-service provider on Bulgarian and
international financial markets
 Best Bulgarian Broker of the Year 2018, 2017,
2016, 2015, 2014, 2013 and 2010
 Trusted long-term partner to international
institutions
Farmland investment
ELANA Agrocredit
 First farmland financial leasing company
 Registered as a financial institution in 2012
 Listed on the Bulgarian Stock Exchange -
Awarded The Best IPO in 2013
 Guaranteed annual dividend
 Invested EUR 39 mln. in farm land purchase and
loans to farmers (as of 31 Aug 2019).
EU funding consultancy
ELANA Investment
 20 years successful EU-funded projects for
business and public administration
 Consulted over 500 enterprises, agricultural
producers and municipalities
 Facilitated over EUR 260 mln. aid investment in
BG industry and agriculture
Renewable energy
ELANA Energy Management
 RE projects since 2004
 2 projects certified Class A Investment by
InvestBulgaria Agency (the governmental arm to
promote investment in Bulgaria)

Highlights of local partnerships
 ELANA Financial Holding is a member of the Confederation of Employers and Industrialists in Bulgaria
 ELANA Trading is a member of the Bulgarian Association of Licensed Investment Intermediaries –
Chairperson Radoslava Maslarska also chairs the Board of BALII
 ELANA Fund Management is a member of the Bulgarian Association of Asset Managers – Board member
Georgi Malinov is a member of the Board of BAAM
 ELANA Investment is a member of the Bulgarian Association of EU Funding Consultants – Executive Director
Kristina Tsvetanska is the Chairperson of BAEUFC
 ELANA Trading is also a member of the Bulgarian Stock Exchange, The Central Depository, Investor
Compensation Fund

ELANA Financial Holding Board of Directors
Chairman of the Board of Directors and CEO
Kamen Kolchev
Kamen Kolchev founded ELANA in 1991. Originally, the company started with brokerage services and developed into
one of the largest institutions in the non-bank sector with a diverse portfolio of financial services. Kamen Kolchev
had been actively involved in shaping the newly emerged local financial market in 1990s by providing expertise for
the development of the new legislation and regulatory bodies. He has been a member of the Board of the
Confederation of Employers and Industrialists in Bulgaria and founder and chairman of the Bulgarian Association of
Licensed Intermediaries. Graduated Mathematics and IT at Sofia University. Capital markets and corporate
governance specialisation programme in New York and Prague.
Board Member
Radoslava Maslarska is the Chairperson of brokerage ELANA Trading.
Her career in finance started in ELANA back in 2001 when she joined the company as an associate at the
International Markets Department. Later she became dealer on international markets and in 2004 she was promoted
as the head of the department. In 2007 she took over as the Executive director of the company and in 2010 became
the Chairperson. Radoslava Maslarska graduated Finance and Banking at Sofia University. She is a licensed investment
consultant by the Bulgarian Financial Supervision Commission. Maslarska is the Chair of the Bulgarian Association of
Licensed Investment Intermediaries, member of the Board of the Investors’ Compensation Fund and member of
Bulgarian Dealers’ Association.
Board Member
Martin Nikolov is the Executive Director of ELANA Fund Management
Martin Nikolov joined ELANA from the very start of the company and had developed the brokerage operations as the
executive director of ELANA Trading up to 2006. From then on he has been managing the asset manager ELANA Fund
Management. Graduated Economics at The New Bulgarian University. Specialisation at Merrill Lynch and ING Bank-
Vienna.

Board Member
Kristina Tsvetanska is the Executive Director of the consultancy ELANA Investment
Kristina Tsvetanska is a EU funding consultant with 20 years of experience on EU structural funds, pre-accession
programmes, international donor programmes. She joined the team of the company in 2002 as the head of
Financial Analysis Department. In 2006 she became the Executive Director of ELANA Investment. Before joining
ELANA, she has worked for State Agriculture Fund and for 7 years in the banking sector.
Kristina Tsvetanska is currently the Chairperson of the Bulgarian Association of EU Funding Consultants.
Graduated Banking at the University for National and World Economics – Sofia.
Board Member
Georgi Malinov is the Head of Legal Department of ELANA Financial Holding.
Georgi Malinov is the Head of the Legal Department of ELANA Financial Holding. He joined ELANA team in 2003
after having legal positions in private businesses. Graduated Law at Sofia University.
ELANA Financial Holding Board of Directors

Bulgaria: Country Overview
 Territory – 110 994 sq.km. Population – 7.364 mln. as per 2011
census, 72.5% urban
 Political system – Parliamentary Republic
 EU member since 1.1.2007, NATO member since 29.4.2004
 Currency: Bulgarian Lev, pegged to EUR @ 1,95583
 Currency Board Arrangement, strongly supported by all institutions
and with solid coverage ratios
 Ease of doing business score (WB ranking): No. 59 – 2018 ranking до
190 countries
 Flat 10% income and corporate tax, 0% capital gains tax, 5%
withholding dividend tax
Latest macro data
Source: NSI, Ministry of finance, Bulgarian National Bank.

ELANA Trading: 28 years full-service provider to investors
 Focus on Institutional investors
ELANA Trading provides a wide range of services to institutional investors from US and Western Europe in
facilitating their investment on the Bulgarian stock market. Investors are provided with brokerage and regular and
thorough research services as well as organization of conference calls and personal meetings with CEOs of
Bulgarian public companies. Cash equity services for institutional investors - 123 markets.
 Trading on the Bulgarian Stock Exchange – Sofia (BSE)
Brokerage services and online trading products – offers own Internet-based trading platform ELANA BG Trader,
accessible by all mobile devices, and BSE-developed COBOS trading platform for all instruments traded on BSE.
Awarded The Best Bulgarian Broker 2018, 2017, 2016, 2015, 2014, 2013 and 2010 via national brokerage ranking.
Traditionally awarded for annual contribution in deals on Bulgarian Stock Exchange since 2006.
 Online trading with over 30 000 instruments on global financial markets
24-hours access to trading with FX, CFDs, ETFs, stocks, futures, options and other derivatives via online trading
platforms ELANA Global Trader and ELANA MetaTrader.

ELANA Trading: 28 years full-service provider to investors
 Fixed income & Money Markets
Primary and secondary bond market (government, municipal, corporate, mortgage, global bonds)
 Investment banking
Structuring, placement, underwriting of equities and bonds. 35 bond issues for the last 18 years. 21 IPOs and
SPOs since 1998 (the start of local licensed stock exchange). Mandated by EBRD for M&A projects since 2002.
Awarded for contribution to local investment banking in 2005 and 2007 by BSE as well as prize for The Best IPO
of 2013. Awarded for contribution to the development of the Bulgarian investment banking in 2014, 2007 and
2005 by the Bulgarian Stock Exchange. Annual prize for The Best IPO of 2013. In 2015 awarded for largest
Bulgarian ICT company IPO by the Bulgarian Stock Exchange and special award “Deal of the Year” within Forbes
Business Awards.
 Research and Analysis
Professional research on the Bulgarian stock market. Provision of market and company reports for local and
international investors. Analysts’ team considered by local media as number one choice expert opinion on the
topics of economy development and financial markets. Research reports are published by Thomson Reuters,
Bloomberg, Standard & Poor’s Capital IQ, Factset and other financial information companies

ELANA Trading: Preferred Bulgarian Partner
 Exclusive partner for Bulgaria of the US Auerbach Grayson & Co. since 1998
Part of brokers’ network on 123 markets worldwide.
 Long-term partner of online trading leader Saxo Bank
Cooperation since 90s. White label partner for Saxo Bank online trading platform as ELANA Global Trader
since 2010.
 Mandated by European Bank for Reconstruction and Development (EBRD) since 2002 for a series of M&A
projects in Bulgaria.
 Other partners throughout the years include:
Citi, NN bank, Bank of America Merryll Lynch, Erste Bank, Raiffeisen Bank International, HVB Group, DZ
Bank, Societe Generale London, Jefferies International, Banca IMI, Banca Zarattini, KBC Securities, Carl
Kliem.

ELANA Trading: 29 national prizes
Highlights of awards:
 The Best Bulgarian Broker 2018, 2017, 2016, 2015, 2014, 2013 and 2010
Awarded for ranking first within the annual ranking of Bulgarian brokerages by The Banker Weekly.
 2006 to 2018 annual prizes by the Bulgarian Stock Exchange
Top 3 brokerage by number of deals on the local stock market.
 2016, 2015, 2014, 2007, 2005 BSE awards for contribution to the development of the local
capital market
Annual prizes by the Bulgarian Stock Exchange for contribution to investment banking.

ELANA Fund Management: 18 years in the lead
 ELANA Fund Management is among the very first licensed asset managers in Bulgaria founded 2002. It
started the first mutual fund in the country.
 A member of the Bulgarian Association of Asset Managers. Member of the Board of BAAM.
 Offers 7 UCITs funds and discretionary portfolio management to high-net-worth individuals /HNWI/
covering the full risk spectrum of investment strategies as well as saving plans.
 Total assets under management – approx. EUR 70 mln. (31 Oct 2019, BAAM).
 Among the top 5 players by AUM on the Bulgarian mutual funds market.
 30 annual industry awards based on rankings of asset managers and funds.

ELANA Fund Management: Award-winning mutual funds
Conservative investment strategy Balanced investment strategy
 Inception 2007
 Currency – BGN
 Invests in fixed-income instruments
 5 national and international prizes
 AUM (Oct 2019) – EUR 10.1m
 Inception 2009
 Currency EUR
 Invests in fixed-income and money
market instruments, up to 10% stocks
 AUM (Oct 2019) – EUR 6.4m
 Inception 2005
 Currency - EUR and BGN
 Invests up to 60% in Bulgarian and
international stocks
 AUM (Oct 2019) – EUR 9.4m
 Inception 2006
 The first mutual fund in USD on
the local market
 3 national prizes
 AUM (Oct 2019) – USD 4m

ELANA Fund Management: Award-winning mutual funds
Aggressive investment strategy
 Inception 2005
 1 national award- Top 3 Best
Equity Fund 2017
 AUM (Oct 2019) – EUR 2.05m
 Inception 2010
 Currency EUR
 Invests up to 90% in stocks on
international markets
 Focus on global blue chips and
emerging markets ETFs
 AUM (Oct 2019) – EUR 350K
 Inception 2016
 Invests up to 100% in stocks
focused on the Bulgarian market
 AUM (Oct 2019) – EUR 23.4m

ELANA Fund Management: Discretionary investment management
ELANA Fund Management offers discretionary portfolio management to high-net-worth individuals since 2002.
What makes the difference:
 Experienced and credible asset manager
 Professional CFA team with long-standing experienced and proven results
 Flexibility of terms – customised design of portfolio and service
 Capacity and flexibility in investment opportunities – easy access to approx. 130 markets of stocks, bonds
and derivatives

ELANA Fund Management: 30 national and international awards
ELANA Balanced
EUR Fund was
awarded Business
New Europe
Intellinews Best
Balanced Fund in
CEE for 2013, 2015
and 2016
4 ELANA funds were
ranked in top 3 in
their categories in the
national ranking „Best
Bulgarian funds“ of
Investor.bg in 2018,
2017, 2016.
ELANA Balanced EUR
Fund was ranked first
in its category in the
national ranking „Best
Bulgarian funds 2016“
of Moitepari.bg
ELANA Cash Fund
was awarded
Business New
Europe Best Fixed-
income Fund in CEE
2009
ELANA Cash Fund
was awarded Best
Investment Product
2007 by the
International
Exhibition Banks,
Investments, Money
In 2016 and 2017
ELANA Fund
Management was ranked
The Asset Manager of
The Year within the
annual industry ranking
by Banker Weekly
From 2006 to 2009
ELANA Fund
Management was
awarded The Asset
Manager of The Year
within the annual
industry ranking by
Banker Weekly
ELANA Eurofund was
awarded The Best
Financial Product
2003 by the
International
Exhibition Banks,
Investments, Money

ELANA Investment: 20 years successful EU investment projects
ELANA Investment was founded in 1999 г. to provide expertise on EU funding and support business, agricultural producers
and public administration in raising funds for their investment programmes and development.
ELANA Investment is one of the founders of the Bulgarian Association of EU programmes’ consultants (BAEUP), which unites
30 largest and most experienced consultancies in the country – Kristina Tsvetanska, executive director of ELANA
Investment, is the Chairperson of the organization.
Contribution to business environment
 500 enterprises, agricultural producers and municipalities made successful investment projects with EU funding
 BGN 560 mln. invested in Bulgarian economy through ELANA Investment expertise
 320 projects with investment value of BGN 560 mln. raised for businesses and municipalities within the EU Structural Funds
in Bulgaria (2007 – 2013 and 2014 - 2020)
 111 projects with investment value of BGN 70 mln. raised within the EU pre-accession programmes (2001 – 2007)
 BGN 139 mln. of loans for regional development distributed as part of the management of the Regional Urban Development
Fund (JESSICA funds through European Investment Bank)

Contact us
Address:
Sopharma Business Towers
5, Lachezar Stanchev St.
Tower B, Floor 12
Sofia 1797, Bulgaria
Tel.: +359 2 81 000 00
Fax: +359 2 95 815 23
E-mail: info@elana.net
Website: www.elana.net

ELANA Group Bulgaria - Corporate Profile 2019 (EN language)

Recommandé

Recommandé

Contenu connexe

Similaire à ELANA Group Bulgaria - Corporate Profile 2019 (EN language)

Similaire à ELANA Group Bulgaria - Corporate Profile 2019 (EN language) (20)

Plus de ELANA Group

Plus de ELANA Group (20)

Dernier

Dernier (20)

ELANA Group Bulgaria - Corporate Profile 2019 (EN language)