prospectus · members of the board of directors of the management company "ubb asset...

Date of last updated of the prospectus: 18.09.2017.

PROSPECTUS of MF „UBB GLOBAL DIVIDEND“ for public offering of units Risk profile:

Medium to high Type and number of the offered securities:

Infinite Number of Units

The number of units of the fund varies depending on the volume of subscriptions and redemptions of units

The prospectus contains all the information necessary to make an investment decision, including the main risks associated with the company and its activities. In the interest of investors to familiarize themselves with the Prospectus before deciding to invest in shares issued by the "UBB Global Dividend". The Financial Supervision Commission has confirmed this prospectus, but this does not mean that it approves or disapproves investment in the offered shares, nor that he takes responsibility for the correctness of the information in the prospectus. Members of the Board of Directors of the Management Company "UBB Asset Management" jointly liable for damages caused by false, misleading or incomplete data in the Prospectus, respectively - as part of the information contained therein. Person under Art. 34, para 1 and 2 of the Accountancy Act shall be jointly responsible with the members of the Board of Directors of the Management Company for damages caused by false, misleading or incomplete data in the financial statements of "UBB Global Dividend" and registered auditor - for damages caused by the audited its financial statements.

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TABLE OF CONTENTS 1. Information regarding MC „UBB Asset Mnagement” JSC: .................................................................................... - 3 - 1.1. Information regarding the MC ( Management Compny) ...................................................................................... - 3 - 1.2. Name, lagal form, headquarters....................................................................................................................... - 3 - 1.3. Date of registration of the company ................................................................................................................. - 3 - 1.4. Other collective investment schemes, which MC "UBB Asset Management" JSC manages …………………………………….- 3 - 1.5. Data for the members of the Board of Directors and legal representatives of MC “ UBB Asset Management” JSC .... - 4 - 1.6. Capital........................................................................................................................................................... - 5 - 1.7. Remuneration policy ……………………………………………………………………………………………………………………………………..- 4 - 2. Information for the mutual fund ...................................................................................................................... - 5 - 2.1. Title ................................................................................................................................................................ - 6 - 2.2. Date of establishment of the Mutual FUND. ......................................................................................................... - 6 - 2.3. Supervisory Authority Instution ………………………………………………………………………………………………………………………. - 7 - 2.4. Indication of where the fund rules and periodic reports can be obtained ……………………………………………………………. - 8 - 2.5. Terms of the tax system applicable to the fund, which are important for unitholders …………………………………………… - 8 - 2.6. Auditors ........................................................................................................................................................... - 8 - 2.7. Characteristics of the units issued by the Fund: ................................................................................................... - 8 - 2.7.1. Rights of Unitholders ...................................................................................................................................... - 9 - 2.7.2. Documents providing evidence of title ............................................................................................................- 10 - 2.7.3. Termination of the FUND ...............................................................................................................................- 10 - 2.8. Indication of stock exchanges or markets, which are listed or traded units............................................................- 11 - 2.9. Terms and conditions for the issuance and redemption of units ………………………………………………………………………… -12 - 2.10. Terms and conditions for the issuance and redemption of units, and circumstances in which it may be suspended

redemption . …………………………………………………………………………………………………………………………………………………………..- 12 - 2.10.1. Terms and conditions for issuing (selling) of units ..........................................................................................- 12 - 2.10.2. Necessary documents which presents investor (the applicant) when placing an order for units of the Fund. Legitimization. Representation. Complaints deposit procedure. ................................................................................ - 15 - 2.10.3. Terms and conditions for redemption and circumstances in which repurchase may be suspended ................... - 20 - 2.10.5. Suspension of redemption……………. ........................................................................................................ …- 23 - 2.11. Description of the rules for determining and using (allocating) income (part of the profit) ………………………………… - 15 - 2.12. Accounting dates and dates of distribution of income ........................................................................................- 25 - 2.13. A description of the investment objectives of the fund, including its financial objectives, investment policy limits the

investment policy of the Fund....................................................................................................................................- 25 - 2.14. Rules for assets valuation ……………………………………………………………………………………………………………………….… - 19 - 2.15. Risk profile of the Fund ………………………………………………………………………………………………………………………………. - 21 - 2.16. Determination of the issue price and the redemption price of the units …………………………………………………………… - 22 - 2.17. Ways, places and frequency of publication of the issue price and the repurchase of units .....................................- 38 - 2.18. Information concerning the manner, amount and calculation of remuneration payable by the fund management

company, he depositary or third parties, and reimbursement of costs by the fund management company, the depositary or third parties ………. ..........................................................................................................................................................- 38 -

3. Information regarding the Depositary Bank …………………………………………………………………………………………………….… - 28 - 3.1. Name, Legal form, seat and head office if different from headquarters …………………………………………………………….. - 28 - 3.2. Main activity ……………………………………………………………………………………………………………………………………………….. - 28 - 4. Information on consultant firms or external consultants who provide advice on a contract and whose remuneration is paid

out of the assets of the collective investment scheme ……………………………………………………………………………………………… - 32 -

5. Functions of UBB Asset Management AD on the organization and management of the FUND ……………………………….. - 32 - 6. Information on the organization of payments in favor of unit-holders, redemption of units and the provision of information on

the collective investment scheme ………………………………………………………………………………………………………………………….. - 35 - 7. Other investment information ..............................................................................................................................- 46 - 7.1. Performance of the collective investment scheme (if applicable) for previous years. ..............................................- 46 - 7.2. Profile of the investor type, for who the FUND is intended......................................................................................-48- 8. Economic information ............................................................................................................................................-48- 8.1. Data about the FUND's expenses for the last three years preceding the year of update of the Prospectus…….….……..-49- 8.2. Data on the accepted by the "UBB Asset Management" JSC “Policy for action in the best interest”............................-53- 8.3. Date of updating of the Prospectus: 18.09.2017……………………………………….............................................-53-

„UBB Asset Management” JSC informs the potential investors, that investment in the offered units is connected with specific risks, which are discussed in details in point 2.14 from the current Prospectus.

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1. Information regarding MC „UBB Asset Mnagement” JSC:

1.1. Information regarding the MC ( Management Compny)

MC „UBB Asset Management” JSC is a joint-stock company, registered in Republic of Bulgaria and operating in Republic of Bulgaria.

1.2. Name, lagal form, headquarters

Name : „UBB Asset Managment” JSC Lagal form: Join-stock company

Headquarters: 5 St. Sofia Str., municipality Vazrazhdane, Sofia - city, Republic of Bulgaria

Telephone : (+359 2) 811 3760-67; 811 3775-78 (+ 359 52) 685467, (+359 56) 897003

Fax : (+359 2) 811 3769 Address, on which are accepted the orders for subscription and redomtion of units of MF “UBB Global Dividend” :

9 “Todor Alexandrov” blvd., Sofia – city

E-mail : [email protected] Web-site : www.ubbam.bg

1.3. Date of registration of the company

MC „UBB Asset Management” JSC is established on 23.04.2004 in the city of Sofia. Till now the company has been reregistrated in the Commercial Register to the Registry Agency with UIC 131239768. The existence of the Company is not limited in time. MC „UBB Asset Management” JSC has the following subject of activity: 1. Management of the activity of collective investment schemes, including: a) investments management; b) administration of the units and/or the units, including legal and accounting services related to asset management, requests for information to investors, valuation of assets and calculation of the price of the units and the units, monitoring of compliance with legal requirements, keeping the book of unit-holders, in case of operation management of a collective investment scheme from another Member country, the distribution of dividends and other payments, issuance, sale and redemption of units and units, execution of contracts, record keeping; c) marketing services. 2. Management, in accordance with the contract concluded with the client portfolio, including the portfolio of a collective investment undertaking, involving securities at its own discretion without special instructions by the client. 3. Providing investment advices on financial instruments. 4. Storage and administration of units of collective investment undertakings. "UBB Asset Management" JSC was established by Decision № 1 from 23.04.2004 of Sofia City Court, entered in the lot of the companies under the party. № 83 704, company case 4098/2004, vol. 1021, Reg. I, p. 44 and re-registered in the Commercial Register to the Registry Agency with UIC № 131239768. "UBB Asset Management" JSC was granted a license to conduct business by the Financial Supervision Commission Decision № 171-MC / 04.03.2004, as supplemented by Decision № 66 MC / 25.01.2006.

1.4. Other collective investment schemes that MC "UBB Asset Management" manages Management Company „UBB Asset Management” JSC organizes and manages MF “UBB Platinum Bond” , MF „UBB Balanced Bonds”, MF „UBB Patrimonium Land”, MF „UBB Euro Money”, MF „UBB Premium Equities”, MF „UBB Global Growth”, MF „UBB Global Child Fund” and MF „UBB Global Pharm Invest”.

mailto:[email protected]

http://www.ubbam.bg/

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1.5. Data for the members of the Board of Directors and legal representatives of the ABM

“ UBB Asset Management” MC „UBB Asset Management” JSC is represented jointly (together) by Katina Slavkova Peycheva – Execurive Director and Stefan Stefanov Tamnev – Procurator.

Ivan Borissov Koutlov –mMember of the Board of Directors. Ivan Koutlov holds a Master degree in "Economy" at the University of National and World Economy (1996) and an MBA from "American University" Bulgaria (2006). In 1996 he successfully graduated Strathclyde Graduate Business School, University of Strathclyde, UK. Between 1993-1998, he passed a number of courses and specializations, including a training course on "Senior Financial Management" in Shell Treasury Europe, "Macroeconomics and Fiscal Policy" at the IMF Institute, "Technical and fundamental analysis in the money markets" in American Express Bank, Frankfurt am Main, Germany, "Spot products, technical analysis and forecasting of international money markets" in Reuters Univercity, Geneva Switzerland, as well as an intership in Banca Nazionale del Agricultura, Rome, Italy. The professional experience of Ivan Koutlov started in 1991 in "Construction Bank" as "Master Dealer". In the period from 1993 to 1994 he performed the same job in "United Bulgarian Bank". In 1995 he was appointed "Expert" in "Bank Consolidation Company," which performed until 1997 when he was appointed as “treasurer” in "Shell Bulgaria". By March 1999 and currently Ivan Koutlov occupies managerial positions in "United Bulgarian Bank" JSC, such as Director "Money market and debt instruments", Director "Large Corporate Clients”. By May 2003 until nowa Ivan Koutlov is Head of the "Treasury" in "UBB" JSC. Katina Slavkova Peycheva - Executive Director and Member of the Board of Directors Katina Peycheva graduated master's degree in "Accounting and Auditing" at the University of National and World Economy (2000) From 1997 to 2002 he worked in the "Bulgarian Stock Exchange - Sofia" JSC consistently performing the functions of Chief Secretary and Expert in "Trade and supervision." During the period 2002 - 2004, she worked as a consultant on privatization deals and accountant in "Cru" LTD. In 2005-2007 she worked as Director Investor Relations in IC "UBB Balanced Fund" JSC. From 2004 to 2007 she worked in the "UBB Asset Management", by performing the following positions: "Accounting and back office," "Chief Accountant" Head of "Internal Control", Investor Relations Officer, and from July 2007 is Executive Director and member of the Board of Directors of "UBB Asset Management". From 2005 to date is an accountant and chairman of the Committee of Finance and Accounting in Bulgarian Association of Asset Management Companies and from 2006 to 2007 is a member of the Management Board of the Bulgarian Association of Investor Relations. Christof De Mil – Member of the Board of Directors Christophe De Mil started his career at the KBC Group in 1995. After 10 years of managing various positions in Retail and SME, the branch network of the KBC Group moved to the Czech Republic in 2006 to head Retail and SME Branch Network CSOB for 5 years. Mr De Mill's career continues on the Board of Directors of CIBANK, where he is responsible for the following areas: Retail Banking, Branch Networks and Distribution Channels and Payments. Teodor Marinov – Member of the Board of Directors Theodor Marinov began his professional development in 1994 as a financial analyst at the Sofia Stock Exchange. In 1995-1997 he worked as a customer relations manager and head of credit analyzes at Bulgarian Investment Bank AD (currently TB Victoria). From 1997 to 2000 he held the position of investment manager in the Balkan Regional Division of the National Bank of Greece. Teodor Marinov has been a member of the United Bulgarian Bank since June 2010, when he was elected as a member of the Board of Directors, and since September of that year he has been the General

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Manager of the Corporate Banking of the Bank. Immediately before that, during the period 2001-2010 he held the post of Chief Executive Officer of Interlease AD and from 2006 he participated in the management bodies of the leasing companies of the National Bank of Greece in Romania and Serbia. He has MA in Business Administration from London Business School and "Systems and Management" at the Technical University, Sofia. Teodor Marinov has been a CFA Certified Financial Analyst since 2001. He has also completed the INSEAD Inter-Alpha Banking program in 2002. Stefan Stefanov Tamnev – Procurator Stefan Temnev has held the position of Regional Manager at “UBB Asset Management” from November 2013 to January 2017 and during this period he was responsible for servicing key clients who controlled and supported the offering by the agent network of all collective investment schemes offered by “UBB Asset Management” as well as the trust management of individual client portfolios. Mr. Tumev became part of the team offering the products of “UBB Asset Management” already in 2006, when he became a specialist investment products at “United Bulgarian Bank”. From 2008 to 2013 he works in the field of management and business consulting as head of financial department at “Taxar” EOOD.

Stefan Tamnev is a bachelor specialty "Public Finance" at the University of Economics in Varna, where he protected and master's degree in "Banking". Since 2006 he has been certified as an investment adviser to FSC and since 2015 has been awarded the prestigious professional accreditation Chartered Financial Analyst (CFA®).

1.6. Share Capital The company's capital amounts to 700 000 (seven hundred thousand) lev, divided into 700 (seven hundred) ordinary registered units, with voting aloud and nominal value of 1000 (one thousand) lev each. Unitholders in the "UBB Asset Management" JSC are "United Bulgarian Bank" JSC , holding 90.86% of the capital and KBC Bank, Belgium, holding 9.14% of the capital.

1.7. Remuneration Policy. Information on the current remuneration policy of the management company The Management Company applies the Remuneration Policy (the Policy) in accordance with

national and European legal requirements. The policy defines the general frameworks, principles and requirements for determining remuneration in the Management Company by promoting the sound and effective management of the risk of the management company, and does not encourage risk-taking that is inconsistent with the risk profiles, rules or constitutive documents of the managed collective investment schemes And does not affect the fulfillment of the management company's obligation to act in the best interests of the collective investment scheme. The policy contains the general framework and the basic principles for determining the remuneration of the MC employees by ensuring that the MC adheres to the current legal and regulatory framework, including but not limited to - the ways of determining and paying remuneration, the structure and types of remuneration, and Their ratios, rescheduling and the possibility of non-payment of remuneration depending on the presentation of the relevant structural unit in the MC, the MC itself and the relevant CIS, the structure and powers of the remuneration committee, etc.

The current Remuneration Policy can be found on the MC's website at: https://www.ubbam.bg/bg/about-us/reports

Upon request by the investors in the CIS of the MC, a copy of the Remuneration Policy will be provided to them free of charge, in paper form, in the company's office or in the branch network of United Bulgarian Bank.

2. Information for the mutual fund

https://www.ubbam.bg/bg/about-us/reports

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2.1. Name Name: МF "UBB Global Dividend" (hereinafter called the „Fund“) Organization and Management: Management company (MC) "UBB Asset Management" JSC Headquarters and address of management of the Management Company: 5 St. Sofia Street, 1040 Sofia, Bulgaria Phone: (+359 2) 811 3761-67 811 3775-78, 811 3770-3771, (+ 359 52) 685 467, (+359 56) 897 003 E-mail: [email protected] Internet site (web-site): www.ubbam.bg Type and status of MF "UBB Global Dividend": By its nature, "UBB Global Dividend" is a collective investment scheme of an open type investment in transferable securities or other liquid financial assets in accordance with the Law. In view of its special status, MF "UBB Global Dividend" is a mutual fund under the Law on the activity of collective investment schemes and other collective investment undertakings (CISOUCI ACT), Law for Markets in Financial Instruments Directive (FIMA) as well as the secondary legislation. The Management Company continuously issues and redeems units of MF "UBB Global Dividend" at the expense of the FUND. Activity: collective investment in transferable securities or other liquid financial assets in accordance

with the law, of funds raised through public offering of units, subject to the principle of risk spreading.

Maximum number of units in circulation: unlimited. Nominal value per unit: 10 (ten) lev.

2.2. Date of establishment of the Mutual FUND. Date of establishment of MF “UBB Global Dividend”: 12.03.2016. Term of existence: there are no restrictions in term of existence. Number and date of the verdict of "UBB Asset Management" JSC for organizing and management of MF “UBB Global Dividend”: № 153-MF / 17.03.2016 of the Financial Supervision Commission. Bulstat: 177002577

2.3. Supervisory Institution Financial Supervision Commission Website : www.fsc.bg e-mail : [email protected] telephone : (+359 2) 940 49 99 fax : (+359 2) 829 43 24 2.4. Indication of the place, where can be obtained Fund Rules and Periodical Reports The investors may get familiar with the Rules of the Fund, the Prospectus, the Key Investor Information Document and the Periodic Reports , as well as to obtain further information every working day from 8.30 to 17.00:

At the office of "UBB Asset Management" JSC: 9, Todor Alexandrov blvd., Sofia, Bulgaria; Phone: (+359 2) 811 3760-67, 811 3775-78; 811 3770-3771; email: [email protected]; contact persons: Svilen Gospodinov (+ 359 52) 685467, Stefan Samardzhiev (+ 359 2) 8113778 and (+ 359 2) 8113774 or Harry Ianchev (+359 56) 897 003.

In the branches of "United Bulgarian Bank" JSC in the country, listed in Annex № 1 to this Prospectus within their working hours with customers, from Monday to Friday from 8.30 to 16.30.The rules of the Fund, the periodic reports and document with key investor information are available on Internet at www.ubbam.bg.



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2.5. Terms of tax system applicable to the Fund, which are of importance for the unit owners. This section provides information for the taxation of the profits of the Fund and the income taxation of investors in units of the Fund. Below is presented the general tax regime of the Fund and its unitholders on their income from transactions in units of the Fund, as applicable at the time of updating this Prospectus tax laws and income tax from the distribution of income (annual profit) of the Fund and liquidation units. Corporate taxation applicable to the Fund According to Art. 174 of the Law of the Corporate Income Tax Law(CITL), collective investment schemes that are admitted to public offering in Bulgaria under CISOUCI ACT are not subject to corporate tax. According to Art. 196 of CITA, CIS are not subject to withholding tax income from disposal of financial instruments, including transactions concluded on the terms and conditions of redemption of collective investment schemes (such as the Fund), admitted to public offering in the country or in another Member State of the European Union or a country - party to the Agreement on the European economic Area. Income Taxation of holders of Fund units Taxation of income from dealing in units of the Fund Taxation of domestic and foreign legal entities: According to Art. 44 of the Corporate Income Tax Act, unitholders of the Fund - local legal entities and foreign entities doing business in Bulgaria through a permanent establishment or receiving income from a source in Bulgaria, when determining the tax financial result, the accounting financial result (profit / loss) is: 1. reduced by the profit from the disposal of financial instruments determined as a positive difference between the sale price and the acquisition price of units of the Fund, and 2. increased by the loss from disposal of financial instruments, defined as the negative difference between the sale price and the acquisition price of the units of the Fund. Under disposal of financial instruments shall be construed transactions with units of collective investment schemes executed on a regulated market and concluded under the terms and conditions of redemption of collective investment schemes admitted to public offering in the country or in another Member European Union or a country - party to the Agreement on the European economic Area.

Taxation of resident individuals: According to Art. 13, paragraph 1, item 3 of the Act on Income Tax of Individuals (PITA) are not taxable income from disposal of financial instruments holders of units in the fund, which includes income derived from transactions with units of such company carried out on a regulated Bulgarian securities market or the terms and conditions of the redemption of the fund itself. Taxation of foreign individuals: According to Art. 37, paragraph 1, item 12 and Art. 46 of the Law on Income Tax of Individuals (PITA) final tax is levied on the income of foreign individuals from the sale, exchange or other transfer of stocks, units, compensatory instruments, investment bonds and other financial assets. According to Art. 37, paragraph 7 PITA not subject to final tax income in the previous sentence when they are exempt under PITA and accrued / paid in favor of foreign natural persons resident for tax purposes in the state - member of the European Union and in another Member - State of the European economic Area EEA. Therefore, income from transactions in units of the Fund executed on a regulated Bulgarian securities

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market or from redemption of units of the Fund are not subject to withholding tax when they are paid to non-resident natural person resident for tax purposes in the country State of the EU or EEA. If the person is a resident of a country outside the EU or EEA are withholding tax amounting to 10 percent. It should be borne in mind that when a tax treaty or other international agreement ratified by the Republic of Bulgaria, promulgated and entered into force, contains provisions different from the provisions of PITA the provisions of the relevant tax treaty or agreement should be applied. Taxation of income from the income distribution (annual profit) of the Fund and the liquidation units According to Art. 194, para. 1 and Art. 200, paragraph 1 of CITA income distribution of income (annual profit) of the Fund and liquidation units distributed by the Fund, if such be voted on by the Board of Directors of "UBB Asset Management", in favor of local legal persons who are not traders and foreign legal entities are subject to 5 percent withholding tax (a fund) that is final. In this order are not taxed incomes and liquidation units distributed to local entities - entrepreneurs and foreign legal persons with a permanent establishment in the country. The distributed income (annual profit) of the Fund and liquidation units received by resident legal persons - traders consider when determining the financial result for tax purposes of these entities - traders based on which is determined their taxable profits. According to Art. 38, para. 1 and Art. 46, para. 3 of PITA, income distribution of income (annual profit) of the Fund and liquidation units distributed by the Fund in favor of local or foreign individual is taxed with 5 percent withholding tax, which is final. Warning: This information is not exhaustive and does not constitute legal or tax advice. Taxation depends on the specific circumstances related to the investor and may change in the future.

2.6. Auditors

By decision of 26.04.2017, the Board of Directors of MC "UBB Asset Management" chose a registered auditor to certify the annual financial statements of the Fund for 2017. - "Deloitte Audit" LTD. "Deloitte Audit" Ltd is re-registered in the Registry Agency with UIC 121145199. The company has its headquarters and headquarters in the city. Sofia region "Vazrazhdane", bul. Aleksandar Stamboliyski № 103. "Deloitte Audit" LTD with activity: independent financial audit of the financial statements of companies, consulting and services related to independent financial audits, organization of accounting and preparation of annual, interim and other financial statements, brokerage hiring Bulgarian citizens in the country.

Verification of annual financial statements

2016 2017

Selected auditor "Deloitte Audit" LTD "Deloitte Audit" LTD

Decision of the Board of Directors of the MC

25.11.2015

26.04.2017

2.7. Characteristics of the units issued by the Fund:

The units of the Fund according to § 1, p. 4 of the Additional CISOUCI ACT are financial instruments issued by the Fund, which express the rights of their holders on its assets. The units are registered in accounts at the "Central Depository" JSC and may be offered publicly. The nominal value of one unit is 10 (ten) lev. The number of units is determined by their issuance and redemption and is not limited by minimum or maximum size. Fund issues whole and partial units. Units are issued based on the net asset value of the Fund and shall be acquired against cash contribution made in a certain amount. The number of units that the investor acquires is defined as between private made in cash (applied for investment amount) of a certain size

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and issue price per unit calculated for the day. In the event that against the amount paid can not be given whole number of units, the investor acquires partial unit by number of units cut with precision to the fourth decimal place. Property of the FUND The net asset value of the Fund can not be less than 500,000 (five hundred thousand) lev. The Fund has no equity capital according to the Commerce Act and is not registered in the Commerce Register. As a mutual fund, the fund is considered established from the moment of entry in the register maintained by the Financial Supervision Commission. The assets of the Fund consists of assets and liabilities, it is increased or decreased according to the change in net asset value of the Fund, including as a result of the issue or redemption of units of the Fund. The management company separates its property assets of the Fund and draw on it a separate balance sheet. The depositary bank account separately cash and other assets of the Fund and separates non-monetary assets from its own assets. The management company and the Custodian do not correspond to its creditors with the assets of the Fund. Creditors of the Management Company and the Custodian may be met by holdings of units in the Fund. Contributions Contributions to the assets of the fund may be only in cash. The smallest amount that an investor can claim for acquisition of units in the fund amounts to 100 (one hundred) lev, divided on the emission value of 1 unit. In the emission value are not included the issue costs, if such are applicable. The preceding sentence shall not apply in the case of a contract for systematic investing. When placing orders, their value is divided by the issue price.The FUND has no right to issue units, whose issue price is not paid in full. Transfer of units Units of the Fund are freely transferable without restrictions or conditions, according to the will of their owners, while respecting the specific requirements of current legislation on disposal of financial instruments. Transactions transfer ownership of already issued by the Fund units between natural and legal persons is permissible under the terms and conditions provided for in current legislation. The settlement is carried out through an investment intermediary acting as a registration agent. Transactions transferring ownership of already issued units of the Fund by donation and inheritance are carried out through an investment intermediary acting as a registration agent.

2.7.1. Rights of Unitholders

Each the units gives the holder the same rights. Each unit gives the holder the right to appropriate part of the assets of the Fund, including its liquidation, redemption right, right to dividend (right part of the profit) and the right to information. In the case of partial units acquired property rights are acquired and exercised in proportion to the partial unit owned. Right to dividend (part of profits) Unitholders are entitled to part of the profits of the fund, respectively of their holdings of whole or fractional units. Right to dividend (of profit) have only persons included in the list of unitholders of the Fund issued by the "Central Depository" JSC on the 14th day following the meeting of the Board of Directors, which approved annual financial statements and has decided to distribute a dividend (of the profits). Redemption rights

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Each holder of units in the fund may require them to be redeemed, unless redemption is not stopped in the cases described in this Prospectus and the Fund Rules. A request for redemption may apply to part or all units held by the investor. Right to information Each unitholder may obtain public information on the activities of the Fund contained in these Rules, the Prospectus of the Fund Document with key investor information such as relating to the management company. The document with key investor information on the Fund is available free of charge to any investor who subscribes for units within a reasonable time prior to the transaction. The prospectus and the latest published annual and six-month financial statements are provided free of charge to any investor who wishes to consult them with a view to making an investment decision. All public information relating to the Fund is made available to investors and unitholders on the website of the Management Company. At the request of investors is provided free paper copy of the information office of the Management Company and in places (counters), where sale and redemption of units of the Fund. Right to liquidation quota Each holder of units of the Fund is entitled to part of the assets of the Fund at its liquidation, corresponding to units held. This right may be exercised insofar after satisfaction of creditors of the Fund's property left for distribution. If the assets remaining after repayment to creditors of the Fund is insufficient to pay the unit of all investors, they shall be satisfied in proportion to the units held. Right to vote The Fund is a collective investment scheme, which is separate property with the purpose of collective investment in transferable securities or any other statutory liquid financial assets of funds raised through public offering of units, and operates on the principle of risk spreading. It is covered by Section XV "Company" of the Obligations and Contracts Act, with the exception of Art. 359, para. 2 and 3, Art. 360, 362, art. 363, letters "c" and "d" and Art. 364, insofar as CISOUCI ACT or in the fund rules otherwise. Accordingly the units of the Fund did not provide voting right aloud. 2.7.2. Documents providing evidence of title

The fund units are dematerialized. The book of unitholders of the Fund shall be kept by the Management Company by open a sub-account in the "Central Depository" JSC. For possession of fund units may be issued depository receipt upon request of the investor and upon payment of the fee. 2.7.3. Termination of the FUND

The FUND shall be terminated in the following circumstances: by resolution of the Board of Directors of the Management Company; in withdrawing the authorization of the Management Company to organize and manage the

Fund; when within three months after the license revocation, termination or bankruptcy of the

management company selected a new management company or fund is not transformed through merger or acquisition.

Within 14 days of the occurrence of the grounds for termination of the Fund Management Company is obliged to submit to the Financial Supervision Commission an application for authorization for termination. Termination of the Fund is carried out by order and under conditions determined by ordinance. They can not be appointed as liquidators members of the Board of Directors of the Management Company or other persons working for the management company to which found systematic violation of CISOUCI ACT, POSA, FIMA or their implementing acts. Upon termination of the Fund on the duties of the liquidator and the protection of creditors of the Fund, Art. 267, art. 268, para. 1 and 3, Art. 270, art.

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271 and Art. 273 of the Commerce Act, the functions of the governing body of art. 270, para. 2 and art. 272, para. 4 of the Commerce Act shall be performed by the Management Company. While not suspended redemption, unitholders of the Fund can not sell them. Furthermore, upon liquidation of the Fund, unitholders are entitled to part of the assets of the fund, respectively of the holdings. This right may be exercised insofar after satisfaction of creditors of the Fund's property left for distribution. If the assets remaining after repayment to creditors of the Fund is insufficient to pay the unit of all investors, they shall be satisfied in proportion to the units held. 2.8. Indication of stock exchanges or markets, which are listed or traded units At present, units of the Fund are traded on the "Bulgarian Stock Exchange - Sofia“ JSC or another regulated market. Ownership of the units issued by the Fund are freely transferable without restrictions and conditions subject to the provisions of existing legislation. Sale or redemption of units may only take place in the office of the Management Company and it provides offices (branches of UBB, according to Appendix № 1 of this Prospectus). The transfer of ownership of units is considered made at the time of registration in the "Central Depository" JSC. The transfer of ownership of units of the Fund in cases of inheritance and donation is done through a licensed investment intermediary acting as a registration agent. 2.9. Terms and conditions for the issuance and sale of units A detailed schedule of the procedure for determining the issue price and the redemption of units of the Fund is available in Item 2.16. Of this Prospectus. The activity on the issue (sale) and redemption of the Fund is implemented by the management company at the expense of the Fund. The FUND shall has no right to issue units, whose issue price is not paid in full.

The management company buys the Fund units by investors, except in cases of suspension of redemption.

The management company has provided a network of offices ("counters"), which take orders for purchase and redemption of units and establish contacts with investors FUND. These are the office of "UBB Asset Management" branch of "United Bulgarian Bank" listed in Appendix № 1 of this Prospectus, and virtual branch "UBB" JSC (http://ebb.ubb.bg). Management company in compliance with legal requirements may conclude contracts for the delegation of functions and actions for the sale and redemption of units of the CIS, which manages and others, such as information for such contracts will be promptly disclosed. The functions that the Management Company delegated to the "United Bulgarian Bank" JSC under contract for agency include:

acceptance of orders in relation to units managed by the "UBB Asset Management" JSC collective investment schemes and transfer them to fulfill their management company;

Service ordered payments accepted purchase orders, respectively redemption of managed collective investment schemes;

making contacts with potential investors and holders of units of collective investment schemes managed by the "UBB Asset Management" JSC;

carry out marketing and promotion of the "UBB Asset Management" JSC and it manages collective investment schemes.

Orders for issuance or redemption of units of the Fund are accepted by authorized employees of "UBB“ JSC "UBB Asset Management" JSC, every working day / named day T / during working hours with clients of the Bank and the Management Company. Orders for issuance or redemption of units of the Fund shall be submitted through the Virtual branch of "UBB" JSC.

http://ebb.ubb.bg/

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Orders for issuance or redemption of units of the Fund submitted after 17:00. Per day T is executed at the price valid for the next day / named day T + 1 /, which is determined on the last working day / named day T + 2 /. Orders for issuance or redemption of units of the Fund are irrevocable if the investor has not submitted an order for refusal to 17:00 pm. On the same working day / day T / in which they are submitted. For orders placed after 17:00., Orders for refusal are accepted until 17:00. Next business day / day T + 1 /. Then, orders for issuance or redemption shall be considered irrevocable. Order of withdrawal is submitted by an authorized officer of "UBB" JSC or "UBB Asset Management" JSC in all cases of identified inaccuracies and omissions in the content of already given order. Order of withdrawal is submitted by an authorized officer of "UBB" JSC or "UBB Asset Management" JSC in all cases of identified inaccuracies and omissions in the content of already given order. Purchase order for units of the Fund are performed on issue price, including the net asset value per unit increased with the issue costs, calculated by the Management Company under the control of the Custodian of the day following the day of submission / called day T + 1 "day that assessment is carried out" / based on quotes day T "day to which assessment takes place" or "the day of the valuation" of financial instruments included in the portfolio of FUND. For example, if the investor submitted an order for purchase or redemption on Wednesday that contract prices are applicable, referring to Wednesday to determine the next working day ie Thursday and announced publicly on Thursday (or the next business day if Thursday was declared a public holiday). Orders for redemption of the Fund are executed at the redemption price, which is equal to the net asset value per share, which is calculated by the Management Company under the control of the Custodian of the day following the day of submission / named day T + 1 "day that assessment is carried out" / based on quotes day T "day to which assessment takes place" or "the day of the valuation" of financial instruments included in the portfolio. All orders for the purchase or redemption received between two calculations of the issue price and the redemption price are executed at the same value. Placing orders for the issue (sale) and redemption of units of the Fund by proxy is permissible only if an original or notarized copy of the notarized power of attorney that authorizes for management or disposal of financial instruments. The requirement under the preceding sentence shall not apply when placing orders through a licensed investment intermediary. Placing orders through Virtual branch of "UBB" JSC proxy is not applicable. "UBB Asset Management" JSC and insured by the management company offices is responsible at the time of ordering by customers between 16:45 and 17:00 in the event that the contract is entered promptly to 17:00, with order processing time required for implementation of the order. 2.10. Terms and conditions for the issuance and redemption of units, and circumstances in which it may be suspended redemption 2.10.1. Terms and conditions for issuing (selling) of units The contract for the purchase of units of the Fund shall be implemented within seven days from the date of submission. The investor receives confirmation of the transaction, which may be obtained as follows:

personally, the site of placing the order - without paying additional costs. Mail - in this case the investor gives explicit consent in contract and pay a fee according to the

Tariff of "UBB Asset Management" JSC, which should be transferred to the account of the Management Company. Confirmation is sent by registered letter with acknowledgment of receipt evidencing receipt.

by e-mail at specified by the customer email address, the customer has expressly chosen this way of providing information to provide it on paper.

"UBB Asset Management" JSC issues (sells) units at the expense of the Fund. Investors subscribing insured by the Management Company offices (see Appendix № 1 to the Prospectus). Payment of the units is made by bank transfer, by simply performing the following actions:

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Submission of an order at a branch of "UBB" JSC When placing an order for subscription (purchase) of units of the Fund at the branch (office) of UBB JSC, where the investor has no current account in the bank, so he should be discovered. Otherwise order by a branch of "UBB" JSC can not be filed (this can be done only at the office of the Management Company). The request for this can be done personally by the investor or a person authorized by him (respectively its legal representative). In so open account investor can deposit and withdraw money at any time, from any branch of the bank, including to settle it in the system of UBB HOMEline on the website of "UBB" JSC (www.ubb.bg).

The investor is required to provide account availability, sufficient to perform the contract. If the investor request to issue depository receipts and / or receiving a transaction confirmation by mail, he must pay an amount covering the additional costs according to the Tariff Management Company.

The collected amounts (issue price) accumulate in a special collection account opened in "UBB" JSC in the name of "UBB Asset Management" JSC from which the same or later than the next business day shall be credited to the Fund at the Bank -depositary. Filing of order in the office of "UBB Asset Management" JSC When placing an order for subscription (purchase) of units of the Fund at the office of the management company, the investor (person authorized by him or his representative) transferred by bank transfer funds to subscribe for units of the Fund and all taxes on order execution, account of "UBB Asset Management" JSC in "UBB" JSC or on behalf of the Fund in depository bank and a bank document for the transfer. When investors pay cash for the purchase of units (at an issue price) directly to the FUND particularly open an account with the Custodian, they translate the value of the contract and the fees of the Management Company - in its current account opened with "UBB " JSC. At the time of placing the order, the funds in that account blocked in favor of the Fund until the moment of execution of the order (resp. Transaction). The order is executed, the amount of the blocked account amount, except when the submitted contract is below the minimum amount of investment. The investor may submit an order for refusal to 17:00 pm. On the same day, then purchase order becomes irrevocable under current legislation. For orders placed after 17:00., Orders for refusal are accepted until 17:00. Next business day. Then orders for the issue of units shall be considered irrevocable. After determining the issue price of one unit of the fund's account of orders to buy (if the order is filed in a branch of "UBB" JSC) is charged the amount of stated in the purchase order amount is divided into fixed per unit price. If against the amount paid can not be given whole number of units, the investor acquires partial unit and the number purchased units cut with precision to the fourth decimal place. If the purchase order is filed in the office of the Management Company, it runs up to the amount of pre-transfered and applied in it amount to be divided into the emission value per unit and the number of units purchased, is determined as described previously. When available or previously transferred to the investor's account funds are insufficient to meet all the demand, it is running in part to the amount of available amount. If the investor has stated in the contract that it wishes to acquire integer units, there may be a remnant of the amount paid will be refunded within 3 days from the date of execution of the order. When placing an order for the purchase of units an investor can limit the number of units it wishes to acquire. In case the requested / amount transferred makes it possible to acquire a larger number of units than that limit, the order is executed up to the limit and apply the procedure for reimbursement. The investor may claim, pointing number of units he wishes to purchase. In this case, those shares are multiplied by the last published issue value and blocked indicative amount for the implementation of the

http://www.ubb.bg/

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order. After the calculation of the issue price, the deal is around the requested number of units multiplied by the issue price, which is valid for the date of the purchase order. If the issue (sale) of units of the Fund be suspended under the terms and conditions described in this Prospectus, purchase orders that are submitted after the last issue price prior to the date of the suspension are not fulfilled . The purchase of units shall be effected after the resumption of the issue (sale) of units of the Fund by placing a new order in the above described order. Subject to execution only regularly placed orders for purchase of units. These are orders placed in accordance with all requirements described in this section of the Prospectus. In the absence, ambiguity or contradiction between the requisites of contract and / or the appendices or lack of necessary conditions for the purchase of units of the Fund, the purchase order is considered invalid and is not executed. The minimum investment amount for the acquisition of units of the Fund is 100 (one hundred) lev. The issue price includes the costs of issuance as follows:

- At an investment up to 25,000 Levs (including) - 2 (two) percent of the net asset value per unit; - At an investment of 25,000 Levs to 100,000 Levs (including) - 1.5 (one point five) percent of the net asset value per unit; - At an investment of 100 000 Levs to 200,000 Levs (including) - 1 (one) percent of the net asset value per unit;

- At an investment over 200,000 Levs - the issue price equals the net value assets of 1 unit. The investor receives confirmation of the deal as soon as possible but not later than the first business day following the execution of the order, which applies the procedure applicable to the confirmation of executed orders for the issuance of units. Requisites of the order for issuance are defined in the ordinance.

Systematic Investment Plan

"UBB Asset Management" JSC concludes with investors, individuals and systematically investing Treaty (Systematic Investment Plan - EPA), under which the Company performs periodically selected by the investor dates, orders for subscription of units issued by the Fund. Upon conclusion of a contract for the EPA, the investor can choose a monthly and / or quarterly frequency of contributions. Also, it may indicate different dates for the payment. For example, the investor stated contribute to a fund with a monthly periodicity of date 25th and quarterly frequency - date fifth. There is a choice and various accounts from which to collect contributions. Upon conclusion of the contract systematically investing, the investor is obliged to provide the account / s to his chosen sum / and the investment of that contract date / s and availability / s is / s on his account, to order execution . Account / s of the client is blocked on the day of placing the order and undertakes the next business day after issuance value is calculated. Contract / s for purchase under a systematic investment is / are generated automatically specified by the investor day / our investment with which the contract / s shall be deemed to have been made / and. In cases where the selected investor of the investment period coincides with the holiday, the contract / s is / are generated, respectively considered / t to be filed / and the first following working day. If the investor does not provide enough funds to an account on the day chosen for the investment contract shall be considered void, as is canceled automatically by the system and proceed to the next stage of the investment (ie the investor misses its contribution and it is not transferred to the next perod investment). If for three (3) consecutive period the investor has not provided a bill selected amount of investment, the contract is automatically terminated. When placing orders, their value is divided by the issue price. The minimum investment amount for the purchase of units of the Fund, for orders executed on the basis of a contract for a systematic investment amounted to 100 (one hundred) lev.

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2.10.2. Necessary documents which presents investor (the applicant) when placing an order

for units of the Fund. Legitimization. Representation.

2.10.2.1. Legitimization

In order indicating whether the applicant is a natural or legal person and submit the relevant documents for identification to be checked and compared, as copies are archived. Performed comparing data and signatures in all documents and compliance of the person in the photo identity document.

Bulgarian individuals 1. Identity document in the original (ID card or "green" passport) to verify the identity of the client. If the supplied ID is a new copy of the same has not been left to the archives of the Management Company at the conclusion of the contract or submission of previous orders, the person receiving the order, making a certified copy of the identity document of the client. If the person does not possess identity card (because it is lost or stolen) order can be accepted with the presentation of another Bulgarian identity document. If the supplied ID is new and / or a copy of the same has not been left to the archives of the Management Company at the conclusion of the contract or submission of previous orders, the person receiving the order, making a certified copy of the identity document of the client. Confirmation of the identity document is done by putting the text "true copy", date and signature of the employee.

Other Bulgarian identity documents that may be filed order, are: - Passport, diplomatic passport, service passport, seaman's passport, military ID card; - driving license for motor vehicle.

Foreign individuals 1. Foreign identity document (passport) for comparison to verify his identity. If the supplied ID is a new copy of the same has not been left to the archives of the Management Company at the conclusion of the contract or submission of previous orders, the person receiving the order, making a certified copy of the passport pages to the client contained information on:

Full names of the applicant; Passport number; Date of issue (if mentioned in the passport); Validity of passport (if mentioned in the passport); Nationality; Address (if indicated in the passport); Picture.

For nationals of Member States of the EU, the annotation of documents under item 1 is done by placing the words "true copy" in the English language, date and signature of the employee. If the order is submitted by a person, a citizen of a country outside the European Community, the documents under item 1 shall be certified by apostille. Documents under item. 1 are intended for backup and need to be left on the counter. At its discretion, the Management Company may require the applicant to submit an official translation into Bulgarian of the document under p. 1. In the event that the person has been issued Bulgarian identity card for prolonged or permanent residence or dokumentsluzhitelyat should request a certified copy thereof.

Minor entered into civil marriage 1. Identity document for verifying the identity of the client. If the supplied ID is a new copy of the same has not been left to the archives of the Management Company at the conclusion of the contract or submission of previous orders, the person receiving the order makes him a certified copy of the identity document of the client; 2. A certified copy of the certificate of marriage and original in the same comparison.

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Certification is done by putting the text "true copy", date and signature of the minor and the person receiving the order.

Bulgarian legal entities /registered in Bulgaria/ 1. Original or notarized copy of a certificate of good standing issued by the Trade Register or certificate of good standing. 2. Proof of identity of the person / s representing a legal entity under the current legal registration in order to verify the identity of the representatives. In the event that the period of contract (or submission of a previous order) there is a change in the representation of the legal entity / identity document of the representative of a new or for other reasons copy of the identity document of the representative is not available in archive Management company, the person receiving the order makes a certified copy of the identity document of the representative of the client. Certification is done by putting the text "true copy", date and signature of the employee. 3. A certified copy of an identification code BULSTAT for legal persons without registration in the Commercial Register to the Registry Agency. 4. If the applicant's activity is subject to licensing is required and certified copy of the license. 5. A certified copy of the memorandum / Constitutive Act of the entity. 6. Statement of beneficial ownership of the entity. The certification under p. 3-5 is done by putting the text "true copy" stamp and signature of the representative of the company and / or person receiving the order.

Foreign legal entities /registered abroad/ 1. Original or notarized copy of the official statement / certificate / from the relevant register on the state of the foreign legal entity, including information about:

Full name of the legal entity and legal form; Date of registration; Country of registration; Seat and address of the legal entity; Activity; Lifetime, if such is provided; Bodies of management and representation; type and composition of collective management

bodies; names of persons who may pose a legal entity; Should that information not contained in a document presented and additional ones, which it is certified. 2. ID of the representative of the foreign legal entity to verify his identity and accordingly the requirements for identification of Bulgarian and foreign natural person. In the event that the period of contract (or submission of a previous order) there is a change in the representation of the legal entity / identity document of the representative of a new or for other reasons copy of the identity document of the representative is not available in archive Management company, the person receiving the order makes a certified copy of the identity document of the representative of the client. 3. A certified copy of the tax registration in the country. 4. If the applicant's activity is subject to licensing is required and certified copy of the license. 5. If the person is registered in Bulgaria, you must submit a certified copy of the identification code BULSTAT for companies without re-registration in the Commercial Register to the Registry Agency. 6. A certified copy of the memorandum / Constitutive Act of the entity. 7. Privacy actual owner of the legal entity. The certification under p. 2 takes place under applicable at the time of order by a foreign individual. The certification under p. 3-6 is done by putting the text "true copy" in English, stamp and signature of the representative of the company and / or person receiving the order. At its discretion, the Management Company may require the applicant to submit an official translation into Bulgarian of documents under p. 1-3.

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Unincorporated incl. mutual funds under the operation of collective investment schemes and other collective investment undertakings 1. A certified copy of the document with which the unincorporated enterprise was created (eg. Company contract / permit from the Financial Supervision Commission for organizing and managing the fund). 2. For Mutual Fund - original or certified copy of a certificate of good standing of the management company authorized to organize and manage. 3. ID of the person authorized to represent the unincorporated check his identity. For mutual fund is required identity document of the person / s representing management company. In the event that the period of contract (or submission of a previous order) there is a change in the representation of the unincorporated / Mutual Fund or the identity document of the representative of a new or for other reasons copy of the identity document of the representative is not available in the archives of the Management company, the person receiving the order makes a certified copy of the identity document of the representative of the client. Certification is done by putting the text "true copy", date and signature of the employee. 4. A certified copy of the certificate of registration BULSTAT of unincorporated if the company is no registration in the Commercial Register to the Registry Agency. For Mutual Fund requires a certified copy of the certificate of registration BULSTAT of the fund. The certification under item. 1 and 4 is done by putting the text "true copy" stamp and signature of the representative and / or the person receiving the order.

Sole trader

When submitting an order by a sole trader through an attorney present documents to represent the legal entity.

2.10.2.2. Representation

Representation may be evidenced by the certificate of good standing from a notarized power of attorney (if the order is submitted by proxy) of a document attesting to the existence of a legitimate representative authority (for a parent, guardian, custodian) or other documents (eg. Company agreement FSC permission for organizing and managing the Mutual Fund, etc.) The representative (attorney) presents documents proving the existence of representative power. Representation of Bulgarian individuals 1. Original or notarized copy of a notarized power of attorney containing representative powers for management and disposal of financial instruments signed by the person represented. In case of ambiguity, inaccuracy in the power of attorney or other suspected improper representative government authorization is not accepted. The management company keeps on file the original of the power of attorney or notarized copy of it. 2. The proxy must submit a complete personal information as a physical person according to legitimation procedures. The certification is carried out according to the procedure described in the procedure for identification of individuals. Representation of foreign individuals 1. Original or notarized copy of a notarized power of attorney containing representative powers for management and disposal of financial instruments signed by the person represented. In case of ambiguity, inaccuracy in the power of attorney or other suspected improper representative government authorization is not accepted. For powers of attorney not granted by Bulgarian notary in Bulgarian language should therefore be sealed with apostille and legalized translation. The management company keeps on file the original of the power of attorney or notarized copy of it. 2. The proxy must submit a complete personal information as a physical person according to legitimation procedures.

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At its discretion, the Management Company may require the applicant to submit an official translation into Bulgarian language of the documents. Representation of minors (aged up to 14 years) 1. The legal representative (parent or guardian) should provide the whole personal information as a physical person according to legitimation procedures. 2. A certified copy of birth certificate accordingly and document the appointment of guardianship and original in the same comparison. 3. Upon disposal of financial instruments - a copy of the permission of the district court of residence of the parent / guardian to dispose of holdings of minor financial instruments pursuant to Art. 130, para. 3 of the Family Code and original in the same comparison. 4. Upon disposal of financial instruments - a statement signed by the parent / guardian that the order does not constitute a donation disclaimer, loan or securing foreign obligations which, by virtue of Art. 130, para. 4 of the Family Code shall be considered null and void. The relevant documents shall be certified by the parent / guardian and / or the person receiving the order by placing the words "true copy", signature and date.

This line orders to persons placed under judicial disability.

Submission of orders by minors (aged 14 to 18 years) with the assistance of their legal representative (parent / guardian) 1. A certified copy of birth certificate, respectively document custody, and the original of the same reference. 2. The parent / guardian must provide the whole personal information as a physical person according to legitimation procedures. 3. The document of identity of the minor to check his identity. If the supplied ID is a new copy of the same has not been left to the archives of the Management Company at the conclusion of the contract or submission of previous orders, the person receiving the order makes a certified copy of the identity document of the client. Certification is done by putting the text "true copy", date and signature of the employee. 4. A statement signed by the parent / guardian stating that the deal is in the interest of the minor and agrees with its conclusion under those conditions. 5. Upon disposal of financial instruments - a certified copy of a permit from the district court of residence of the parent / guardian to dispose of holdings of minor units pursuant to Art. 130, para. 3 of the Family Code and original in the same comparison. 6. Upon disposal of financial instruments - a statement signed by the parent / guardian that the transfer does not constitute a donation disclaimer, loan or securing foreign obligations which, by virtue of Art. 130, para. 4 of the Family Code shall be considered null and void.

All documents and forms that are provided by the management company when submitting the contract must be signed by the minor and the parent / guardian indicating "agree".

This line orders to persons placed under partial guardianship. Representation of Bulgarian legal entities from representing them in commercial registration 1. The representative must provide all personal information as a physical person according to legitimation procedures described above.

2. The representative must be a person or one of the persons (if they can represent the company separately), which was entered in the certificate of good standing of the entity. If the entity is represented by two or more persons representation is carried out jointly. Representation of foreign legal entities from representing them at registration

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Apply the procedure described in procedure legitimation for the legal entity shall be submitted documents for foreign legal entities and for representing if a foreigner - breeder documents of a foreign individual. Representation of Bulgarian entities by proxy 1. Original or notarized copy of a notarized power of attorney containing representative powers for management and disposal of financial instruments issued by the representative / s company. In case of ambiguity, inaccuracy in the power of attorney or other representative suspicion of improper power, it is not accepted. The name of the person signing the power of attorney must match one of the names of the Act for court registration. If the entity is represented by two or more persons, the authorization shall be issued together all the representatives. The management company keeps on file the original of the power of attorney or notarized copy of it. If the authorization is not granted by the Bulgarian notary of the Bulgarian language should be with apostille and legalized translation.

2. The representative should provide the whole personal information as a physical person according to legitimation procedures.

3. For the legal entity shall be submitted breeder documents described above. Representation of foreign legal entities by proxy 1. Original or notarized copy of a notarized power of attorney containing representative powers for management and disposition of securities and other financial instruments issued by the representative / s company. In case of ambiguity, inaccuracy in the power of attorney or other representative suspicion of improper power, it is not accepted. The name of the person signing the power of attorney must match one of the names submitted by the act of registration of the foreign legal entity. In the event that it is represented by two or more persons, the authorization shall be issued by all the representatives. For powers of attorney not granted by Bulgarian notary in Bulgarian language should therefore be sealed with apostille and legalized translation. The management company keeps on file the original of the power of attorney or notarized copy of it. 2. The proxy must submit a complete personal information as a physical person according to legitimation procedures. 3. For legal person shall submit the documents for identification of foreign legal entity described above. At its discretion, the Management Company may require the applicant to submit an official translation into Bulgarian language of the documents. Representation of a sole trader When submitting an order by a sole trader by proxy present documents to represent the legal entity. Submission of an order by inheritance Redemption of financial instruments, submitted by heirs can not be accepted, before the transfer of financial instruments on subaccount of the persons concerned – heirs, at registration agent. Placing an order in case of inheritance by will Redemption order of financial instruments, submitted by heirs by will can not be accepted, before the transfer of financial instruments to subaccount of the persons concerned – heirs, at registration agent. Notes: 1. Where a normative act provides additional requirements for identification and representation, they are executed by the Management Company (subcontractor) for work on the issue (sale) and redemption of the Fund although not explicitly mentioned in these procedures. 2. When the transactions and payments for the purchase of units between the Fund and foreign entities, investors observe the special provisions of the Foreign Exchange Act, the income tax of individuals, the Law on Corporate Income Tax and the Law on Investment Promotion relating to these persons.

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PROCEDURE FOR SUBMISSION AND TREATMENT OF COMPLAINTS, REQUESTS AND IMPLICATIONS OF UNITHOLDERS OF THE COLLECTIVE INVESTMENT SCHEMES 1. For its share administration activities, including legal services and accounting services in relation to

asset management, requests for investor information, asset valuation and share price calculation, compliance monitoring, book keeping for holders Shares, distribution of dividends and other payments, issue, sale and redemption of units, performance of contracts, record keeping, etc. UBB Asset Management AD conducts a special diary of the received complaints of unit-holders of collective investment schemes. UBB Asset Management AD examines and keeps the complaints received.

2. Investors have the right to file written complaints without paying a fee. Information on the procedure for filing and handling complaints is provided free of charge upon request.

3. Investors may lodge written complaints each working day from 8.30 am to 5 pm: In the office of UBB Asset Management AD: 9, Todor Alexandrov Blvd., Sofia, Bulgaria, tel .:

(+359 2) 811 3760-67, 811 3775-78, 811 3770-71; E-mail: [email protected], contact persons: Svilen Gospodinov (+ 359 52) 685467, , Stefan Samardzhiev (+ 359 2) 811 3778 and (+ 359 2) 811 3774 or Hary Yanchev (+359 56) 897003 .

At the branches of United Bulgarian Bank AD in the country listed in Appendix 1 of this Prospectus, within their working hours with clients from Monday to Friday from 8.30 am to 4.30 pm.

The Complaints Procedure is also available on the Internet at www.ubbam.bg. 4. In order for an investor's complaint to be dealt with, the latter should indicate the correct

identification data - names, PIN, etc., as well as a contact address - address for correspondence, telephone, e-mail address, etc.

5. The complaint is examined by UBB Asset Management AD, which analyzes the complaint, verifies the data, gathers evidence and steps are taken to resolve the problem.

6. A reasoned written response shall be sent to the complainant not later than 10 working days from the date of receipt of the complaint.

7. In addition to UBB Asset Management AD, each investor has the opportunity to submit complaints to the Financial Supervision Commission and other state bodies. Every investor has the right to use mediation, out-of-court settlements and other forms of out-of-court dispute resolution legally admissible in the Republic of Bulgaria.

2.10.3. Terms and conditions for redemption and circumstances in which repurchase may be suspended

2.10.3.1. Redemption Order Each investor in the fund can claim part or all of the units owned by it for repurchase under terms and conditions described in this section of the Prospectus. This contract is executed only if the units are held in client sub investor at the expense of the Management Company "UBB Asset Management" JSC in the "Central Depository" JSC. If the units are kept in a client sub-account of the investor to an investment firm repurchase shall be made only after the transfer of those units to a client sub-account of the investor to the account of "UBB Asset Management" JSC in the "Central Depository" JSC. The redemption of units of the Fund is carried out by submitting a written request by the applicant (holder of units of the Fund, authorized person or legal representative) to "UBB Asset Management" JSC. The order is submitted at the sales and redemption of units of the Fund (see Appendix № 1 to the Prospectus). The written order is a pattern with minimal content as prescribed by ordinance. The necessary documents which are provided as annexes to the contract are listed below in this section of the Prospectus. The redemption of units of the Fund is carried out through the Virtual branch of "UBB" JSC. Redemption order is executed at the redemption price less costs of redemption, which is determined on the next business day following the day of submission.


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If the investor wants additional services Tariff "UBB Asset Management" JSC, it should pay these fees separately on the current account of the Management Company at UBB JSC. Upon redemption, the investor may claim number or amount of redemption. After determining the redemption price per unit of the Fund, the investor said number of units for repurchase, the number of units stated in the contract multiplied by that value and the amount is credited to the investor referred to in the contract or in cash in office of "UBB Asset Management" JSC. When an investor has specified amount, then divide it into redemption price disclosed and valid on the next day, the day of placing the order and thus set out the indicative number of units to be redeemed to satisfy the amount of the order. These units are blocked. After determining the redemption price per unit of the fund referred to in the contract sum is divided by this value and setting the number units to be redeemed, the exact udvoletvoryavane of that amount by the client. The Fund does not charge redemption therefore the redemption price per unit equal to the net asset value per unit. The order for redemption of the Fund shall be implemented within 10 days of its submission. The investor may submit an order for refusal to 17:00. Same day, after which the redemption order becomes irrevocable under current legislation. For orders placed after 17:00., Orders for refusal are accepted until 17:00. Next business day. Then, the order is considered irrevocable. If the redemption of the Fund be suspended under the terms and conditions described in the law and this Prospectus, redemption orders that are submitted after the last announcement of the redemption price before the starting date of the suspension not fulfilled. Redemption is made after the resumption of redemption of units of the Fund by placing a new order in the above described order. Subject to execution only regularly submitted orders for redemption of the Fund. These are orders placed in accordance with all requirements described in this section of the Prospectus. In the absence, ambiguity or contradiction between the details of the order for redemption of the Fund and / or the appendices, the contract is deemed invalid and not executed. The order is regarded as being completed at the time of registration in the "Central Depository" JSC. The investor receives confirmation of the deal as soon as possible but not later than the first business day following the execution of the order, which applies the procedure applicable to the confirmation of executed orders for redemption. Requisites of a redemption order are set out in regulation. In the event that the applicant is issued depository receipts for units which it held a fund he provides (in the original) as an annex to the above documents. Necessary documents, which presents the investor at the time of redemption of units of the Fund (See procedure for identification and representation). When placing an order for refusal to submit only documents the procedure for identification and representation certifying that he is entitled to make the order. Order of withdrawal is submitted by the client and if the latter uses the virtual branch of "UBB" JSC as a reason must be given for the refusal. If the order is made on behalf of a foreign person and it indicated that it will use a special tax regime for full or partial exemption from tax under a convention for the avoidance of double taxation apply all documents required by Bulgarian law to prove those grounds, including a statement of the amount of the positive difference between the book value of the units subject to redemption and the redemption price. If a foreign person does not submit the necessary documents to prove the grounds for the application of the relevant agreement for the avoidance of double taxation or declaration under the preceding paragraph, the redemption order is valid, but is implemented in accordance with the general tax regime provided for nonresidents.

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2.10.3.2. Procedure for transfer of fund units from client subaccount led an investment firm to a client subaccount led with "UBB Asset Management" JSC and vice versa. Applicant (holder of units of the Fund), his representative or proxy filed with the office of UBB JSC or office "UBB Asset Management" JSC, defined as "place of sale" (see Appendix № 1 to the Prospectus) order to "UBB Asset Management "AD for taking / transfer to / from an investment intermediary. Applicant (holder of units of the Fund), his representative or proxy filed with the office of UBB JSC or office "UBB Asset Management" JSC, defined as "place of sale" (see Appendix № 1 to the Prospectus) order to "UBB Asset Management "AD for taking / transfer to / from an investment intermediary. Subject to execution only regularly submitted orders. Such are those that are made in accordance with the above requirements. In the absence, ambiguity or contradiction between the data in the details of the contract and / or the appendices thereto and in case of the documents shows that there is a defect in taking corporate decision, the representative authority or other prerequisite to dispose of the units are deemed invalid and not enforceable. In case of technical or other objective reasons, the order will be executed at the earliest opportunity. Orders for taking / transfer from / to an investment firm accepted the office of "UBB Asset Management" JSC or the branches of UBB JSC defined as "points of sale" (see Appendix № 1 to the Prospectus) within their working time. Orders for taking / transfer from / to an investment firm can be submitted through the Virtual branch of "UBB" JSC. The order is considered executed after carrying out the transfer of units in the "Central Depository" JSC from the sub to the applicant at the firm in sub-account of the applicant in the management company or vice versa. 2.10.4. Terms and conditions for simultaneous sale of units of the Fund and purchase of units in another Mutual Fund Lev also organized and managed by the "UBB Asset Management" JSC and vice versa. Orders for simultaneous sell units of the fund and the purchase of units of another CIS, also managed by the "UBB Asset Management" JSC and vice versa may be submitted only for CIS in the same currency. The submitter (holder of units of the Fund) representative or proxy filed with the office of UBB JSC or in the office of "UBB Asset Management" JSC contract for simultaneous sale of units of the Fund and purchase of units from another lev Mutual Fund also organized and managed by the "UBB Asset Management" JSC. Order for simultaneous sale of units of the Fund purchase of units Evrov fund managed by UBB Asset Management can not be filed. Applicant (holder of units of the Fund) may file a request for simultaneous sale of units of the Fund and purchase of units from another lev Mutual Fund also organized and managed by the "UBB Asset Management" JSC and back through Virtual branch of "UBB" JSC. In the contract the investor indicates the number of units of the Fund wishes to be redeemed or the amount it wishes to be received from the sale of the units. The number of units multiplied by the redemption price and the resulting amount is purchased corresponding number of units of another Mutual Fund. When the order is specified amount, divide it into the price announced for the nearest day and received an indicative number of units to be repurchased. This number of units is blocked. Once calculated the redemption price of the Fund, the amount is divided by this value, and the final value that the customer should purchase units of other Mutual Fund in Levs also organized and managed by the "UBB Asset Management" JSC. If simultaneous sale of units of one Mutual Fund and buying units from another lev Mutual Fund also organized and managed by the "UBB Asset Management" JSC (exchange) shows that after the implementation of the replacement remainder of units on the balance of the investor Fund from which the transferred units would be less than 10 (ten) units of the fund contract for replacement must be made for all units owned and investor to reset your account, the fund from which the transferred units. Receivable amount is divided by the issue price in other fund and receive the number of units which may be obtained from it.

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The same order also applies to the simultaneous sale of units of another Mutual Fund Lev also organized and managed by the "UBB Asset Management" JSC, and the purchase of units of the Fund. When placing an order for simultaneous sale of units of the Fund and purchase of units from another lev Mutual Fund also organized and managed by the "UBB Asset Management" JSC and vice versa, the investor shall transfer provided by the Tariff Management Company fees on current account in lev. Due to execution are only properly submitted orders. Such are those that are made in accordance with the above requirements. In the absence, ambiguity or contradiction between the data in the details of the contract and / or the appendices thereto and in case of the documents shows that there is a defect in taking corporate decision, the representative authority or other prerequisite to dispose of the units are deemed invalid and not enforceable. In case of technical or other objective reasons, the order will be executed at the earliest opportunity. The contract for the simultaneous sale of units of the Fund and purchase of units in another Mutual Fund, also organized and managed by the "UBB Asset Management" JSC and vice versa, shall be adopted in the office of "UBB Asset Management" JSC in the branches of UBB JSC, defined as "points of sale" (see Appendix № 1 to the Prospectus) within hours of operation, as well as virtual office on "UBB" JSC Internet address (http://ebb.ubb.bg). For orders placed until 17:00 h., Orders for refusing to adopt this hour of the same day. Then, orders for simultaneous sale of shares of "UBB Global Dividend" and the purchase of shares in another fund Lev also organized and managed by the Management Company and vice versa are considered irrevocable. Orders submitted after 17:00. Per day T "day of submission of order" are executed at prices valid on day T + 1, determined on the last working day / day T + 2 /. For orders placed after 17:00., Orders for refusal are accepted until 17:00. Next business day / day T + 1 /. Then, orders for simultaneous sale of units of the Fund and purchase of units in another Mutual Fund Lev also organized and managed by the Management Company and vice versa are considered irrevocable. Order for simultaneous sale of units of the Fund and purchase of units in another Mutual Fund, whose units are issued in leva, also organized and managed by the "UBB Asset Management" JSC can not be made when the redemption of units of the Fund or to another fund is suspended, since the suspension of the redemption is necessarily related to the suspension of the issuance of units. Such orders will be accepted after redemption of the units of both the fund be resumed. 2.10.5. Suspension of redemption

„UBB Asset Management" JSC, by decision of the Board of Directors may temporarily suspend the redemption of units of the Fund only in exceptional cases where circumstances so require, and suspension is justified in the interests of unitholders, including the following cases :

when on a regulated market on which a substantial portion of the assets of the Fund are admitted or traded, the transactions are terminated, suspended or subject to restrictions;

when they can not be evaluated properly the assets or liabilities of the Fund or the Management Company can not dispose of them without harming the interests of unitholders;

when deciding on termination or reorganization through merger of the Fund. in case of termination of the contract with the bank - custodian for culpable breach of its

obligations, revocation of banking license or impose other restrictions on its activities, and if the Bank - Depository be excluded from the list of art. 35, para. 1 CISOUCI ACT, which make it impossible to fulfill its obligations under the contract for depository services and may harm the interests of the unitholders of the Fund.

In the above cases, the Management Company shall notify the Financial Supervision Commission and the Custodian of its decision by the end of the day, and the resumption of redemption by the end of the business day preceding the resumption. In deciding on "UBB Asset Management" JSC to suspend the redemption of units of the Fund, it shall immediately suspend the issuance of units for the period of suspension of redemption.

http://ebb.ubb.bg/

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Accepting orders for simultaneous sale of units of the Fund and purchase of units of another collective investment scheme, also managed by the "UBB Asset Management" JSC and vice versa, shall be suspended if the redemption of units of any of the two collective investment schemes be suspended until resumption. In case you need an extension to suspend the redemption of units of the Fund Management Company is obliged to inform the Financial Supervision Commission and the Custodian no later than seven days before the original definitions of it period. If the duration of the suspension is shorter than seven days, including in cases where redemption was suspended for technical reasons, the management company carried out notifications in the previous sentence to the end of the business day preceding the date on which it should be renewed opposite buying. The redemption shall be resumed by decision of the Board of Directors by the deadline specified in the decision to suspend the repurchase, respectively, in the decision to extend the suspension of redemption. Orders submitted after the last announcement of the redemption price before the starting date of the suspension are not fulfilled. The management company refunded the amounts investors submitted orders for purchase of units in their bank account or to the cashier of the company by the end of the working day following the day of submission of orders. "UBB Asset Management" JSC informs unitholders of the suspension of the repurchase, respectively, to resume immediately after deciding, by publication on the website of the Management Company www.ubbam.bg. The management company shall inform and Deputy Chairperson in charge of "Investment Supervision" at the Financial Supervision Commission. 2.11. Description of rules for determining and using (distribution) of income (part of profits) After receipt of the report of the auditor The Board of Directors of the Management Company shall decide on the distribution of profits of the Fund. Right to dividend (of profit) have only persons included in the list of unitholders of the Fund issued by the "Central Depository" JSC on the 14th day following the meeting of the Board of Directors, which approved annual financial statements and has decided to distribute dividends. Dividends (part of the profits) of unitholders can be paid only in cash. Dividends (part of profits) of unitholders shall be calculated as determined by the Board of Directors of the Management Company of the profit attributable as dividend (of profit) divided by the number of units of the Fund to 14th day following the day of the meeting of the Board of Directors, which approved the annual financial statements and has decided to distribute dividends. Dividends (part of profits) are distributed in absolute amount per unit and paid to unitholders by the Management Company on behalf of the Fund within 3 months from the date of the distribution of profits of the Fund. Payment of dividends (part of the profits) is carried out with the assistance of the "Central Depository" JSC. The procedure for payment of dividends (part of the profit) is determined by ordinance. The management company is obliged to immediately notify the Financial Supervision Commission and the "Central Depository" JSC for the decision of the Board of Directors of the Management Company, the type and amount of the dividend and the terms and conditions for its payment. The Board of Directors of the Management Company may decide not to distribute dividends (part of profits) in the following cases: 1. When FUND ended the year at a loss; 2. when the profit from the previous year, in whole or in part, be reinvested in the Fund's activities by assigning one of the following ways:

in retained earnings from previous years; in fund "Reserves"; to cover losses from previous years.


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2.12. Accounting dates and dates of distribution of income

The fund management company is obliged to submit to the Financial Supervision Commission and the public: 1. Annual Report within 90 days after the fiscal year; 2. Half-yearly report covering the first six months of the financial year, within 30 days by the end of the reporting period.

The fund management company is required to submit to the Commission by the 10th day of the month following the reporting, monthly balance and information on the volume and structure of investment portfolio by issuers and types of securities and other financial instruments.

Diversification

of the income

2016

Cover of losses from previous years with the

profit for the current year

-

Diversification of the profit for the period in

fund “General Reserves”

816.97

Cover of loss for the period in “Uncovered

losses”

-

Accounting date of the diversification 26.04.2017

2.13. A description of the investment objectives of the fund, including its financial

objectives, investment policy limits the investment policy of the Fund

Main objectives and focus of investment activity The main objective of the Fund is to provide unitholders preserve and increase the value of their investments through realization of capital gains and dividend incomes and interests at medium to high evel of risk. Financial objective of the Fund is to increase the value of the issued units in the long term upon securing high liquidity of the investors‘ funds. Strategy and policy to achieve the objectives To achieve the objectives of art. 8 the management company follows moderately agressive investment policy in actively managing the investment portfolio of transferrable securities or other financial assets and cash money resourses of the Fund. The resources of the Fund are invested primarily in equity securities of companies, which are with potencial to realize high dividend yield in long term and are admitted to trading on regulated markets in Bulgaria and abroad. The specific asset structure will depend on market conditions and will be dynamic within the above limits. The yield, which is expected to be realized in the management of the Fund's assets, is formed by revenues from received dividends, from price differences in the purchase and sale of financial instruments from the portfolio, of dividends received and to a lesser extent - from intrests from debt financial instruments, bank deposits and others. The choice of investment instruments is based on fundamental and technical analysis, as predominantly are selected securities with high growth potential of their market prices and realization of capital and dividend gains, as well as realization of dividend incomes.

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Fixed income securities and deposits in the portfolio structure is mainly used for risk diversification, as well as the realization of current income in times of adverse market trend for equity securities. To ensure liquidity and achieve higher profitability management company may at the expense of the Fund term deals in the acquisition and sale of financial instruments and contracts with repurchase (repos). Transactions in the preceding paragraph may be effected only subject to restrictions pursuant to Art. 27 para. 1 and Art. 28, para. 1 CISOUCI Act. In order to achieve the main objectives of the Fund and in risk management the management company may implement appropriate investment methods of protecting the portfolio (hedging) of different types of risk, in which may enter into transactions with rights, futures, forwards, options, swaps and other derivatives. The management company has, depending on the market situation, an appropriate sectoral structure of the portfolio. Composition and structure of assets. Unit in the securities of one kind or another. Restrictions on the structure of assets Management company structure of the Fund's portfolio by type of assets, as follows:

Type of assets Relative share to

the total assets of the Fund

Equity securities of companies, which are with high potencial to realize

incomes from dividends, admitted to or traded on regulated markets

under Article 11, para. 1, p. 1-3; equity securities under Article 11, para. 1, p. 4; units of collective investment schemes whose investment

policy corresponds to the risk focus of the Fund in complying with the restrictions of art. 11, par. 16; derivative financial instruments under

Article 11, para. 1 pt. 7 and p.8.

Up to 95 %

Debt securities admitted to or traded on regulated markets under Art.

11, para. 1, p. 1-3; debt securities under Art. 11, para. 1, p. 4; units of collective investment schemes which have a conservative investment

policy in complying with the restrictions of Art. 11, para. 16.

Up to 50 %

Liquid funds, these include mainly deposits in banks under Art. 11, para. 1, p. 6 and money market instruments under Art. 11, para. 1, p. 1-3 and 9, which include the concept of liquid funds

Not less than 5 %

Securities and money market instruments Up to 10%

1. The Fund's assets consist exclusively of: 1.1. transferable securities and money market instruments admitted to or traded on a regulated market within the meaning of Art. 73 of the Markets in Financial Instruments Directive (FIMA); 1.2. transferable securities and money market instruments traded on a regulated market other than that of art. 73 of FIMA, in Republic of Bulgaria or in another Member State, which operates regularly and is recognized and open to the publicas well as securities and money market instruments issued by the Republic of Bulgaria or another Member State; 1.3. transferable securities and money market instruments admitted to trading on official market on a stock exchange or traded on another regulated market in a third country which operates regularly and is recognized and publicly accessible, included in a list approved by the Deputy Chairman of the FSC; 1.4. recently issued transferable securities in whose terms of issue is included a commitment admission, and within a period not exceeding one year from their issue, to be admitted to trading on an official market of stock exchange or another regulated market functioning regularly, recognized and publicly accessible, included in a list approved by the Deputy Chairperson of the FSC;

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1.5. units of collective investment schemes and / or other collective investment undertakings and which satisfy the conditions of Art. 4 para. 1 CISOUCI ACT, regardless of whether they are established in a Member State, if: а) other collective investment undertakings meet the following requirements: aa) are authorized to conduct business in a law according to which they are subject to supervision that Deputy Chairman of the Financial Supervision Commission considers equivalent to the supervision under the law of the European Union and the cooperation between supervisory authorities is sufficiently ensured; ab) the level of protection of unitholders, including the rules on asset allocation, usage and granting loans of transferable securities and money market instruments as well as the sale of securities and money market instruments, which undertakings for collective investment not possess, are equivalent to the rules and the protection of holders of units of collective investment schemes; ac) the main investment focus of the CIS to match the investment objectives of the Fund ad) they disclose information periodically by preparing and publishing annual and six-monthly reports enabling the evaluation of assets, liabilities, incomes and operations over the reporting period, and b) no more than 10 percent of the assets of the collective investment schemes or other collective investment undertakings, whose acquisition is expected to be carried out may by their constitution or rules to be invested aggregate in units of other collective investment schemes or in other collective investment undertakings; 1.6. Deposits in credit institutions repayable on demand or for which there is a right to be withdrawn at any time with date to maturity not exceeding 12 months; credit institutions in a third country must comply with the rules and be subject to supervision by the Deputy-Chairman of the Financial Supervision Commission (FSC) as equivalent to those under EU law; 1.7. Derivative financial instruments, including equivalent instruments, obligations that can be settled in cash, traded on regulated markets under p. 1.1-1.3; 1.8. derivative financial instruments traded over the counteron condition that: a) the underlying assets are instruments under par. 1, financial indices, interest rates, currency or foreign exchange rates; b) the counterparty with these derivative financial instruments is an institution - subject to prudential supervision, and meets the requirements approved by the Deputy Chairman of the FSC; c) are subject to reliable and verifiable daily valuation and at any time on the initiative of the Fund may be sold, liquidated or closed by an offsetting transaction at fair value; 1.9. money market instruments other than those traded on a regulated market as referred to in § 1, p. 6 of AP of CISOUCI ACT, if the issue or issuer of such instruments is supervised in order to protect investors or savings and meet the following requirements: a) issued or guaranteed by central, regional or local authorities in the Republic of Bulgaria or in another Member State of the Bulgarian National Bank, a central bank of another Member State, the European Central Bank, the European Union or the European Investment bank by a third country and in case of a federal state - by a member of the federal state, by a public international organization in which a member is at least one Member State; b) were issued by an issuer whose issue of securities is traded on a regulated market under p. 1.1 - 1.3; c) issued or guaranteed by an entity over which takes place prudential supervision according to criteria defined by the European Union law, or by a person who is subject and comply with rules adopted by the relevant competent authority which are at least as stringent as the requirements specified by the European Union law; d) issued by issuers other than those under letters "a", "b" and "c" meeting the criteria approved by the Deputy Chairperson of the FSC ensuring that: aa) investments in such instruments are the subject of investor protection equivalent to the protection to which the investments under letters "a", "b" and "c"; bb) the issuer is a company whose capital and reserves amount not less than the equivalent of 10 million euros which presents and publishes annual financial statements in accordance with the Fourth Council Directive of 25 July 1978 on the basis Art. 54, § 3, letter "g" of the Treaty on the annual accounts of certain types of companies (78/660 / EEC) or Regulation (EC) № 1606/2002 of the European Parliament and of the Council of 19 July 2002 on the application International accounting

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standards, and is a person who finances a group of companies which includes one or more companies admitted to trading on a regulated market or a person financing of securitization vehicles benefiting from a banking liquidity line to provide liquidity. 2. The Company, for the account of the Fund may invest no more than 10 percent of fund assets in transferable securities and money market instruments other than those under par. 1. 3. The Fund may not acquire valuable (precious) metals and certificates on them. 4. The management company may not invest more than 5 percent of the fund's assets in transferable securities or money market instruments issued by one person. 5. The management company may not invest more than 20 per cent of the fund assets in deposits in a person under par. 1, p. 6. 6. The risk exposure of the fund to a counterparty in a transaction with OTC derivative financial instruments may not exceed 10 percent of the assets when the counterparty is a credit institution under par. 1, p. 6 and in other cases - 5 percent of the assets. 7. The management company may invest up to 10 percent of fund assets in transferable securities or money market instruments issued by one person only on condition that the total value of investment in people, in each of which the Fund invests more than 5 percent of its assets must not exceed 40 per cent of its assets. The restriction under the first sentence does not apply to deposits with credit institutions that are implemented prudential supervision and to transactions with OTC derivative financial instruments with these institutions. 8. In addition to the restrictions under p. 4-6 the total value of the fund's investments in transferable securities or money market instruments issued by a person, the deposits with this person, as well as exposure to the same person arising from transactions with OTC derivative financial instruments can not exceed 20 percent of its assets. 9. The management company may invest up to 35 per cent of the fund's assets in transferable securities and money market instruments, issued by one person if the securities and money market instruments are issued or guaranteed by the Republic of Bulgaria, by another Member State, their regional or local authorities, a third country or by a public international organization to which belongs at least one Member State. 10. Transferable securities and money market instruments under p. 9 shall be disregarded for the purposes of the limitation under p. 7. 11. The investment restrictions under p. 4-9 could not be combined. The total value of the fund's investments in transferable securities or money market instruments issued by a person, deposits with this personas, as well as exposure to the same entity, arising from transactions with derivative financial instruments under p. 4-9, may not exceed 35 percent of the Fund’s assets. 12. Companies included in the same group for the purposes of preparation of consolidated financial statements in accordance with recognized accounting standards are regarded as a person applying the restrictions under p. 4-11 and p. 14. 13. The total value of investments in transferable securities or money market instruments issued by companies in a group, can not exceed 20 percent of the value of fund's assets. 14. The Fund may invest up to 25 per cent of its assets in bonds issued by a credit institution established in a Member State which is subject to special supervision designed to protect bond holders, including the requirement raised by the bond issue funds to be invested in assets that during the entire period of the issue provide coverage of claims in connection with bonds and in the event of insolvency of the issuer to be used in priority for payment of obligations to bondholders. The total investment in the first sentence beyond the limit under par. 4 of exposures to a single issuer may not exceed 80 percent of the Fund's assets. The bonds issued by credit institutions domiciled in a Member State that qualify under the first sentence, shall be published on the European Commission. 15. The management company may invest no more than 10 percent of the fund's assets in units of the same undertaking for collective investment under p. 1, p. 5, whether established in a Member State or not. 16. The total amount of investments in units of collective investment undertakings other than the Fund can not exceeds 10 percent of its assets. 17. The Fund may acquire no more than: 1. ten percent of the units without voting aloud issued by one person;

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2. ten per cent of the bonds or other debt securities issued by one person; 3. Twenty-five percent of the units of a collective investment scheme or undertaking for collective investment which meets the requirements of Art. 4 para. 1 CISOUI Act; 4. ten percent of the money market instruments issued by one person. Restrictions under par. 17 pt. 2, 3 and 4 shall not apply when at the time of acquisition of these instruments the Fund can not calculate the gross amount of debt securities, money market instruments or the net value of securities issued. 18. Restrictions under this Article shall not apply when the asset management company at the Fund subscription rights arising from the transferable securities and money market instruments that are part of its assets. 19. In violation of the investment restrictions for reasons beyond the control of the Management Company or as a result of exercising subscription rights, the Management Company priority, but not later than two months from the occurrence of the violation through sales transactions bring the assets of the Fund in compliance with investment restrictions, taking into account the interests of unitholders. In these cases, the Management Company is required within 7 days of the offense to notify the Commission by providing information on the causes of the accident and taken remedial action. 20. The total value of the Fund's exposure associated with derivative instruments, can not be greater than the net value of its assets. 21. The Fund may invest in derivative financial instruments in compliance with restrictions under par. 11-13 and provided that the exposure to the underlying assets do not exceed the investment limits under p. 4-13. 22. When the Fund invests in derivative financial instruments based on indices, these tools can not be combined for the purposes of investment restrictions under p. 4-13. 23. When transferable securities or money market instruments contain an embedded derivative instrument, the Fund's exposure to such derivative instrument is considered in the calculation of total exposure under p. 20. Other limitations of the investment activity 24. The management company may not acquire on behalf of the Fund units with voting aloud on one issuer that could enable it to exercise significant influence over the issuer. 25.1. The management company and Depositary Bank when acting on behalf of the Fund can not provide loans or guarantors to third parties. 25.2. Notwithstanding the restrictions under p. 25.1., the Management Company and Depositary Bank may acquire transferable securities, money market instruments or other financial instruments pursuant to 1.5, 1.7, 1.8 and 1.9, where their value is not fully paid.c 25.3. The Management Company and the Bank - custodian when operating at the expense of the Fund can not conclude a contract for short sales of transferable securities, money market instruments or other financial instruments under 1.5, 1.7, 1.8 and 1.9. 26.1. The management company and the Bank - custodian acting on behalf of the Fund can not borrow, except in cases and in compliance with the requirements of p. 27.2 - 27.9. 26.2. The Management Company or the Bank - custodian acting on behalf of the Fund may acquire foreign currency by means of a compensation loan for the effective management of expenses of the Fund. The compensation loan occurs when a bank with which the Fund has contractual relationships lodged against the currency of the fund, provided by a foreign bank counterparty provision of loan to the fund in the respective foreign currency. The exposition of the Fund loan under this paragraph may not exceed 10 percent of its assets. Par. 27.2 - 27.9 shall apply accordingly. Funds under the loan under this paragraph can be used for: 1. Payment of submitted orders for redemption of Fund units outside Republic of Bulgaria; 2. purchase of instruments under Art. 38 CISOUCI ACT. 26.3. The deputy chairman of the Financial Supervision Commission may permit the Fund to use a loan amounting to 10 percent of its assets if all of the following conditions are met: 1. The loan is for a period not longer than three months, and is required to meet the obligations under the redemption of units of the Fund;

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2. the terms of the loan are not more favorable than the usual for the market. 26.4. The decision for using loan on the account of the Fund shall be taken by the Board of Directors of the Management Company. 26.5. For issuance of a permit for using a loan The management company shall submit an application to the Deputy Chairperson of FSC by approved by him pattern enclosing the documents specified in the ordinance. 26.6. The deputy chairman of the Financial Supervision Commission shall adopt a decision on the application for the use of the loan by grant or refuse to grant permission for its use. 26.7. Upon receipt of authorization to use the loan the management company is obliged to inform the Deputy Chairperson of the FSC for concluded contracts for lending and to provide a copy of it within 3 days from the date of its conclusion. 26.8. The Fund may use more than one loan only if in the same period the total amount of the loans does not exceed indicated in p. 27.3 size. 26.9. The management company shall submit to the Deputy Chairman of the FSC once a month, by the 10th day of the following month report on the spending of the loan as well as its repayment to the final fulfillment of the obligation. 2.14. Rules for assessment the Net Asset Value of the assets 1. The net asset value of the Fund is determined every business day of the weekand includes the value of all held by the Fund assets and liabilities in balance by the date of the valuation. If any business day was declared officially a public holiday, the calculation of the issue price and the redemption takes place on the first business day. 2. When calculating net asset value is used a uniform and consistent evaluation system, taking account of the costs associated with the activity of sale and redemption of units, including the remuneration of the Management Company and the Custodian as well as other expenses, if any be provided. 3. The net asset value of the Fund is equal to the sum of the carrying value of all assets of the Fund, decreased with the amount of the carrying value of all liabilities. The net asset value per unit is equal to the net asset value divided by the number of Fund units outstanding. The carrying value of assets and liabilities shall be is determined in accordance with approved by the Financial Supervision Commission Rules for valuation and determination of the net asset value of the Fund. 4. The assessment of the fund's assets is carried out at initial acquisition (recognition) - at acquisition cost. The subsequent assessment of the fund's assets is carried out at fair value. 5. Subsequent measurement of the securities of the Fund is carried out at fair value in case such can be defined as follows: 5.1. of securities and money market instruments, issued by Republic of Bulgaria, traded on venues in an active market in the country, is based on the average of prices "buy" at market close on the last business day, announced by not less than two primary dealers of government securities under the current legislative act, governing the terms and conditions for issuing, acquiring and payment of dematerialized government securities. If the price is calculated on the basis of gross prices of primary dealers, it is used directly. On condition the price is clear, on the basis of interest characteristics and frequency of coupon payments, it is converted to gross and then used for revaluation. Failing to implement this point of the day for the valuation, for subsequent evaluation will apply the closest established under this section fair price within the 30-day period preceding the day to which performed the assessment. 5.2. of issued by the Republic of Bulgaria securities and money market instruments as well as issued by another Member State securities and money market instruments traded on trading venues in active markets abroad is carried out:

a) "bid" price at market close on the date of the valuation, announced in an electronic system for price information;

b) if the foreign market is not working on the day to which is carried out the assessment - by price "buy" at market close on the last business day announced in an electronic system for price information.

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c) in case the price is calculated according to letters "a" and "b" is gross, it is used directly. On condition the price is clear, on the basis of interest characteristics and frequency of coupon payments, it is converted to gross and then used for revaluation. 5.3. for Bulgarian and foreign units and rights listed or traded on an active regulated market in Bulgaria - an average weighted price of transactions concluded on the day to which assessment takes place, announced through the trading system or stock exchange bulletin if the volume of transactions concluded on this day is not less than 0.02 percent of the volume of the corresponding issue.

a) if it could not be determined price under p. 3, the price of the units or the rights shall be determined as the average of the highest price "buy" from orders that are valid at the time of closing of the regulated market on the day to which assessment takes place, and the weighted average price of the transactions with the relevant financial instruments transactions for that day. The price is determined in this way only if there are completed transactions and bid price "buy."

b) if it can not be applied p. a the price of units, respectively of the rights is the average weighted price of transactions concluded valid for the closest day in the last 30-day period preceding the day on which assessment takes place, for which there are transactions. In case in the previous 30-day period there has been an increase in capital or split of units of the issuer or is declared payment of dividend, the weighted average price under the first sentence shall be adjusted by the ratio of the capital increase, or the division of units or the amount of dividend, if the closest day in the last 30-day period preceding the day on which assessment takes place, for which have been concluded deals before the day, after which the unitholders are not entitled to participate in the capital increase, respectively, the day of the division or the day from which the holders of units are not entitled to dividend. 5.4. of units of collective investment schemes in Art. 38, para. 1, p. 5 CISOUCI ACT, including in cases of temporary suspension of redemption shall be carried out at the latest published redemption price. 5.5. of derivative financial instruments in the country - under p. 3. 5.6. of Bulgarian and foreign bonds and other debt securities, admitted to or traded on an active regulated market in Bulgaria - on average weighted price of transactions concluded on the business day to which assessment takes place, announced through the trading system or exchange bulletin, if the volume of transactions concluded for the day is not less than 0.01 percent of the volume of the corresponding issue. If it can not be determined a price under p. 6, subsequent valuation of bonds is carried on the average weighted price of transactions, concluded with them for the closest day in the last 30-day period preceding the day, on which assessment takes place, for which there are transactions. 5.7. of Bulgarian and foreign transferable securities and money market instruments admitted to or traded on a regularly functioning, recognized and publicly accessible regulated markets abroad:

a) at the last price of a transaction concluded with them on the relevant market on the day to which they carry out the evaluation;

b) failing to apply the valuation method under letter "a" the assessment is carried out in "bid" price at market close on the day to which assessment takes place, announced in an electronic system for price information of securities;

c) if failing to apply the valuation method under letter "b" the assessment is done at the last price of a transaction concluded with them within the last 30-day period preceding the day to which is carried out the assessment; 5.8. of derivative financial instruments with underlying securities listed or traded on a regularly functioning, recognized and publicly accessible regulated markets abroad is conducted under pt. 5.7. 6. In cases where no trade takes place on a regulated market in working for the country days or when certain securities are temporarily suspended from trading for subsequent valuation of securities admitted to trading on a regulated market, the value valid for the day of final trading session at a date for which is the valuation. At subsequent valuation of bonds under the first sentence is reported and the interest accrued on the respective days. 7. The rule under p. 6 shall not apply when on the regulated market has no trading sessions held for more than 5 working days. 8. The rule under p. 6 also applies in cases where on a regulated market is not conducted trading session due to a public holiday in the respective country day and which is business day in Republic of Bulgaria.

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9. The securities and financial instruments which can not be determined at fair value under par. 5 pt. 1-8, and those who are not admitted to trading on regulated markets are measured at fair value, calculated in accordance with the principles and methods defined and detailed in the approved by the Financial Supervision Rules for evaluation of the portfolio and determining the net asset value of the Fund. 10. The deposits in banks, the money in cash, cash funds in current accounts and short-term receivables are evaluated on the date of the valuation as follows:

1. fixed-term deposits - at their nominal value; 2. money in cash - at nominal value; 3. demand deposits - at nominal value; 4. short-term receivables with no stated interest rate or income - at cost price; 5. short-term receivables with a fixed interest rate or income - at cost price.

11. Subsequent measurement of the money market instruments admitted to or traded on a regulated market is defined under par. 5, p.7. In case of inability to be applied par. 5, p.7 the assessed value is determined in accordance with the principles and methods defined and described in details in the approved by the Financial Supervision Commission Rules for portfolio evaluation and determination of the net asset value of the Fund. 12. The financial assets denominated in foreign currency are recalculated in BGN equivalent, using the exchange rate of the Bulgarian National Bank, valid for the day of the valuation. 13. The value of liabilities is equal to the sum of the carrying amounts of short-term and long-term liabilities on the balance sheet. Liabilities denominated in foreign currency are calculated at the official rate of exchange on on the day to which is carried out the assessment. Assessment of liabilities is performed in accordance with International Accounting Standards and the accounting policies of the Fund. 14. The Board of Directors of the Management Company adopt rules for valuation and determination of net asset value, which are an integral part of the Prospectus i contain the principles and methods of valuation of assets, and the system of organization of this activity. 2.15. Risk profile

Risk relating to investments in financial assets is the possibility that the return on an investment may be different than expected. In general, the risk is the possibility to realize a loss of some or even all investments. Investors and holders of units in the Fund should be aware of the risks related to investments in securities and financial assets can easily determine their risk profile and take investment decisions based on their individual goals horizon for investment willingness to take risk and others. High level of risk implies the possibility of higher returns without no guarantee that this be achieved. Fund assets are invested in securities with medium to high level of risk and maintain asset structure in full compliance with the restrictions imposed by the Fund, CISOUCI ACT and regulations for its implementation. In carrying out the activity of the organization and management of the Fund Management Company seeks to balance the desire for highest possible returns and an appropriate level of risk. The fund's portfolio is exposed to typical specific risks arising from particularities and statutory requirements on investments in financial assets. The risks faced by the activities of the Fund can be categorized by two criteria:

Systematic, related to the economy Macrofactor and Unsystematic (specific) risks related to factors relating to companies whose securities are

invested funds of the Fund and Management Company.

Systematic risks The main systemic risks faced by the activities of the Fund are:

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Macroeconomic risk - the probability of macroeconomic stability in Bulgaria. Macroeconomic situation in the country is characterized as stable, and the main factors for this include: Bulgaria's membership in the European Union, low tax rates, low ratio debt: GDP. Factors potentially negative impact on macroeconomic stability, budget deficit, increasing indebtedness of households and companies, pressure from different social groups for a sharp increase in wages, the decline in foreign direct investment. Political risk - the possibility of return on the financial instruments portfolio to be influenced by political factors. The political situation in Bulgaria is assessed as stable. From 01.01.2007 the country became a full member of the European Union. At the time of adoption of this Prospectus, Bulgaria's credit rating in local and foreign currencies set by the international rating agency S & P to local and foreign currency is as follows:

Short term: B - with a stable outlook. Long term: BB + - with a stable outlook.

In recent years, Bulgaria is characterized by a functioning market economy and a policy encouraging investment. Tax risk At the time of update of this Prospectus profits of the Fund is not subject to corporate tax. Received from local and foreign individuals and legal entities income from transactions in units of investment companies executed on a regulated securities market are not taxed. Risk preferences of investors to lapse. Inflation risk ("Risk of purchasing power") – risk profitability of the investments to be influenced by inflation (deflation) processes in the economy.

Annual inflation for 2016 (December 2016 to December 2015), as measured by the consumer price index was 0.1%, increasing by 0.5 percentage points compared to 2015. For the period 2000 - 2016, the most lowest annual inflation (-1.6%) was measured in 2013, and the highest (12.5%) - in 2007. Currency risk – possibility of return on the investment portfolio to be influenced by changes in the exchange rates of various currencies in which the securities contained in the investment portfolio. Management Company invests the Fund's resources in assets denominated mainly in BGN or EUR, but not excluded the existence of securities issued in other currencies. By the time that Lev is strictly pegged to the euro or Bulgaria adopted the euro as their currency, there will be no currency risk exposures in either of the two currencies. Management company limited currency risk (hedge) in accordance with the investment restrictions imposed by the legal system in the country. Interest rate risk – associated with changes in interest rates on the market, which traded financial assets. Interest rate risk refers mainly to debt securities (bonds) whose value changes as a result of changes in interest rates. An increase in interest rates, the market value of the investments made to reduce not be realized potentially better returns than investments with fixed higher returns. Decrease in interest rates can be expected to be offset by the increase in the value of the assets themselves. Management Company strives to minimize interest rate risk firstly by investing in securities issued by financially sound issuers and secondly, through the optimization of the portfolio, ie Management term structure (maturity) of the instruments in which it invests. Less impact of interest rate risk on the part of the investment portfolio contained securities with no fixed income (equities), although changes in interest rates can affect all investments insofar as the discount rate used for the valuation of assets related to it. Market risk – the possibility of market influences affect unexpected the expected return on assets.

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Of great importance to the status and profitability of the investment portfolio of the Fund's sensitivity to the assets and the portfolio as a whole to market movements, which are traded. "UBB Asset Management" JSC control and minimize this risk through continuous market analysis and application of appropriate methods for managing the investment portfolio. Liquidity risk – part of market risk. Equated with difficulty or inability to sell certain assets or the entire portfolio for a short period of time without leading to increased transaction costs or capital losses. On a macro level, this risk depends on the development of the economy and the market as a whole. Expectations for the economic development of the country at the time of preparation of this Prospectus are positive. This gives reason to believe that the purchasing power of the population will grow and will increase the presence of foreign investors in the Bulgarian capital market. Credit risk – This is a general risk of reducing the value of the investment in certain securities in case unexpected credit events relating to issuers of securities, counterparties in exchange and OTC transactions, and unexpected events in the countries in which they operate. The Fund identifies three main types of credit risk: 1. Counterparty risk is the risk of default by the counterparty to the OTC transactions. 2. Settlement risk is the risk arising from the possibility the FUND not receiving cash or financial instruments from the counterparty on the settlement date after they have fulfilled their obligations arising from that trade. The MC measures this risk through the value of all trades with a counterparty as a percentage of the managed portfolio. Do not include transactions concluded on condition of DVP (delivery versus payment) and on markets with functioning clearing mechanism. 3. Investment Credit risk is the risk of reducing the value of an investment in a debt security because of credit event with the issuer of the instrument. Credit event includes bankruptcy, insolvency, a significant change in the capital structure, reduced credit rating and more. The MC performs qualitative and quantitative credit analysis based on: A. The financial statements of the issuer; B. The capital structure of the issuer; C. The security of the issue, where the issue is secured; The management and reputation of the issuer. Risk associated with investment in derivative instruments - the possibility of incurring losses due to adverse changes in the value of derivative instruments in which the Fund invests. Besides the above mentioned risks, derivatives also carry specific risks: A. Risk management - Derivatives are highly specialized instruments whose use requires understanding both the underlying asset and the mechanism of action of the derivative itself; B. Risk of leverage - adverse change in the price of the underlying asset, rate or index can result in loss of an amount greater than was invested in the derivative. Certain derivatives have the potential for unlimited loss; C. Risk of incorrect valuation of the derivative - many of derivatives are complex instruments and their evaluation is often subjective. Consequently, the Fund may suffer losses when buying overpriced derivatives. In conclusion, the use of derivatives may not always be successful. Risks to the rights of minority unitholders Management Company invests the Fund's assets in minority stakes in securities. Issuers whose securities are traded on a regulated Bulgarian market still does not fully comply with principles of good corporate governance, managing the assets of companies inefficiently or not the benefit of all unitholders. Changes in legislation in recent years have reduced this risk by improved mechanisms to protect the rights and interests of minority unitholders. The management company seeks to further reduce risk by investing the fund's assets in securities of issuers high standards of good corporate governance.

Unsystematic risks

Sector risk – related to whether investments in a sector of the economy are better or worse than expected returns from investments in other sectors.

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The projected positive development of the economy in general and capital markets in particular are a prerequisite for good development of the sector and its participants by increasing opportunities and ways to invest. The methods of managing investment portfolios, which are used, allow the management company to maintain a well-structured portfolio of securities in "UBB Global Dividend" where sectoral risk is minimized. Financial risk, connected with the ability to use credit, which is strictly limited by CISOUCI ACT for mutual funds. About the Fund are strict rules on liquidity. The financial risk is legally limited in advance, at which it boils down to the ability of the Fund to generate income (bisiness risk). Management risk - "UBB Asset Management" JSC provides an appropriate organizational structure, the participation of highly qualified specialists and implement appropriate methods of portfolio management to minimize this risk. Specific risk of the portfolio – stems from the risk of different types of securities and the specific risk of companies whose securities are included in the portfolio. All types of risk are subject to constant analysis and control of the Management Company.

2.16. Determination of the issue price and the redemption price of the units

The NAV per unit of the FUND is determined each business day (called day T + 1 "day on which valuation is carried out") for the previous day (called day T "day for which is carried out the evaluation" or "day, for which is the evaluation "), according to the Rules, the Prospectus for public offering of units of the FUND and the Rules as well as the current legislation. Portfolio valuation is carried out by "UBB Asset Management" JSC, which determines the NAV of the Fund and the NAV per unit and calculates the EP and RP under the control of the Custodian.

Timeline of the procedure for determining the issue price and the redemption of Fund units 1. Until 10 o'clock of the day, on which the evaluation is carried out (day T + 1) the management

company receives from "Central Depository" JSC information for the transactions of sale and redemption, which settlement is completed and the number of units of the FUND in circulation at the end of the day T;

2. Between 10:00 and 11:00 on the day on which the evaluation (day T + 1): is determined the fair value for the day of the valuation (day T) according to these Rules; The

data and / or the analysis, used for determintion of the fair value, are applied to the calculation of the price and kept for at least five years.

is carried out revaluation of the assets at their fair value, a balance of the Fund is prepared and NAV per unit is determined for the date of the valuation (day T).

3. Until 11 o'clock of the day at which the valuation is carried out (day T + 1) the Management Company provides to the Depositary Bank all the information about the determined NAV per unit (including the number of sold and repurchased units with completed settlement) as well as the estimated EP and RP.

4. Until 12 o'clock of the day at which the valuation is carried out (day T + 1) the Management Company receives confirmation from the Depositary Bank for the calculated NAV, EP and RP.

5. The Management Company , by the end of each business day, at which the valuation is carried out (day T + 1), declare EP and RP of the units of the Fund, for which the valuation refers (day T):

Appropriately indicated in the Prospectus for Public Offering of units and Key Investor Information Document of the Fund – www.ubbam.bg

To the Commission for Financial Supervision. To the person/s, with which the management company has signed a contract for usage a

network of offices, that declared them at the counters for sale / redemption.

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6. The calculated according to the current EP and RP are published on the website of the Management Company - www.ubbam.bg

7. When calculating the NAV, EP and RP, the Management Company uses appropriate software that allows it to keep accounts of the FUND separately from its own.

8. All the documentation and information, used for determination of the NAV, EP and RP is kept by the management company on paper and on magnetic media at least 5 years in a way that ensures access to it exclusively for authorized employees. For additional security, the information is stored also on a second electronic device.

2.16.1. Method and frequency of calculation of the issue price and the redemption price of the units The issue price is determined each business day from the Management Company "UBB Asset Management" JSC, based on the assessment of the assets and the liabilities of the Fund for the preceding business day. The net asset value per unit (NAV 1 / unit) is calculated by the following formula: NAV 1 / unit = Net Asset Value of the Fund / number of units in circulation The issue price (EP) is equal to the net asset value per unit increased by issuance costs. Issuing costs vary depending on the size of the investment, as follows:


- At an investment over 200,000 Levs - the issue price equals the net value assets of 1 unit. Upon conclusion of a contract for systematic investment (SIP) issuance costs are charged on every first installment after signing the contract, respectively on each first installment after renegotiating terms of the contract concerning a change in the monthly fee. EP NAV = 1 unit + 2.00% * NAV 1 share - a one-time transactions and the first payments under a contract for systematically investing in investment to 25 000 Levs including hardwood, EP NAV = 1 unit + 1.50% * NAV 1 share - a one-time transactions and the first payments under a contract for systematically investing in an investment of 25,000 lev to 100,000 Levs, including EP NAV = 1 unit + 1.00% * NAV 1 share - a one-time transactions and the first payments under a contract for systematically investing in an investment of 100 000 lev to 200,000 Levs including EP NAV = 1 unit in investment over 200,000 Levs EP = NAV 1 unit - for subsequent payments under a contract for a systematic investment when it is not a person renegotiate the terms of the contract (payments) related to a change in the monthly fee. Redemption Price (RP) is equal to the net asset value per unit of the Fund. The fund does not charge redemption costs. RP = NAV 1 unit 2.16.2. Fees related to the issuance and redemption of units Costs and fees for the investor:

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costs for issuance –costs are charged for issuance in the amount depending on the size of the investment:


- At an investment over 200,000 Levs - the issue price equals the net value assets of 1 unit.

fees charged by the Management Company, according to its Tariff. Investors pay bank fees for the bank transfers they make other costs and charges laid down within the Tariff at the counters that accept orders in

connection with the Fund. The emission value of one unit is equal to the net asset value per unit.

Investors acquire the units of "UBB Global Dividend" at the issue price and declare their redemption at the redemption price. In the issue price of units of "UBB Global Dividend" include costs of issuing in size, depending on the size of investment referred to in the first sentence of paragraph. 2.16.2, ie the fee charged on issuance of shares of "UBB Global Dividend" in size depending on the size of the investment referred to in the first sentence of item. 2.16.2. When a contract for systematic investment is consluded the issuance costs are in the amount depending on the size of the investment referred to in the first sentence of item. 2.16.2 shall accrue only to the first installment of the contract, respectively on each first installment after renegotiating terms of the contract concerning a change in the monthly fee. The price of the redemption of units of "UBB Global Dividend" does not include the costs of redemption, ie it is equal to NAV per unit. When contracted to systematically investing issuance costs in the amount of 2 (two) percent of NAV per share are calculated only for the first installment contract respectively on each first installment after renegotiating terms of the contract concerning the change in size the monthly installment. The issue price for each subsequent installment is no cost to issue that does not concern the change in the monthly payment. This requirement applies in the case of renegotiation of the contract systematic investing. In cases where the Treaty of systematic investment has been terminated and then signed again, the issue price for the first installment will again include the cost of issuance and each subsequent installment will be equal to the NAV per unit. When resizing costs of issuance and input costs for the redemption of units of the Fund Management Company is obliged to notify the unitholders of the Fund through publication on its website www.ubbam.bg, immediately after the approval of the changes in rules the Fund by the financial supervision Commission. The obligation under the preceding sentence shall be executed no later than the next day after learning of the approval of the changes. If an error in the calculation of the net asset value per unit, resulting in the issuance value is increased or reduced redemption price by more than 0.25 percent of the net asset value per unit, the Management Company or the Bank -depozitar are obligated to reimburse the holder of the units bought units at the higher price or sold units at reduced prices from the Fund within 10 days of the time the error, unless the holder of the units was unfair . Upon an error in the calculation of the value per unit, resulting in the issuance value is reduced or increased the redemption price by more than 0.25 percent of the net asset value per unit, the Management Company or the Depositary Bank have to recover the difference to the Fund for its own account in 10 days after finding the error. Upon receipt of the transaction confirmation by mail, if the investor said it explicitly in the contract, it shall pay a fee according to the Tariff of "UBB Asset Management" JSC. If the investor wants to be issued depository receipts of the "Central Depository" JSC holdings of units of the Fund pays the "UBB Asset Management" JSC fee for this service in Tariff Management Company. Upon timely submission of an order for refusal transaction does not take place.

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The investor pays a fee in the Tariff Management Company at the time of order to assume his unit of the investment intermediary, a sub-account of the Management Company. The investor pays a fee in the Tariff Management Company in placing an order for transfer of units by sub-account of the Management Company in the investment intermediary. If the initial acquisition of units that an investor sells within the simultaneous sale of units of the Fund and purchase of units of another Lev fund also organized and managed by the "UBB Asset Management" JSC, the units repurchased, respectively acquire a net asset value per unit. If the investor does not sell all owned by him amount of units and wants the issue of depositary receipts for balance and for newly acquired units, he should pay funds to pay Orders for issuance and redemption of units of the Fund are executed only if the investor has secured funds for the implementation of the deal itself, and has paid the relevant fees in the Tariff of "UBB Asset Management" JSC.the fee for the issuance of depositary receipts for purchase and for the remainder of the units filed separate order for the issuance of depositary receipts. "UBB Asset Management" JSC has provided a network of offices (desks) where investors can submit purchase orders and sale of units of the Fund. These are the office of the Management Company, the branches of "United Bulgarian Bank" in the country listed in Appendix № 1 to this prospectus, including in the Virtual branch of "UBB" JSC. In the event that made the purchase or sale of Fund units over the network, investors do not pay additional brokerage fees and commissions related to the implementation of the real deal on the issue or redemption of units of the Fund. When the Fund invests in units of other collective investment schemes or undertakings for collective investments managed directly or by delegation by the "UBB Asset Management" JSC or by another company with which the "UBB Asset Management" JSC is linked by common management or control, or by a substantial direct or indirect "UBB Asset Management" JSC or other company will not charge fees for the sale and redemption of units of this collective investment scheme. 2.17. Ways, places and frequency of publication of the issue price and the repurchase of

units

"UBB Asset Management" JSC published issue price and the redemption of Fund units every working day, on the website of the Management Company www.ubbam.bg. Information on the issue price and the redemption of the Fund is provided daily and the Financial Supervision Commission. Other reports provided by law and the Rules of the Fund are published on the same website. Investors can get acquainted with the Prospectus, the Fund rules document with key investor information and periodic reports, and obtain further information every day from 8:30 to 17:00:

Office "UBB Asset Management" JSC: bul. "Todor Alexandrov" № 9, Sofia, Bulgaria, tel .: (+359 2) 811 3764/811 3774; e-mail: [email protected], contact persons: Svilen Gospodinov (+ 359 52) 685467, Stefan Samardzhiev (+359 2) 811 3778 and (+ 359 2) 811 3774 or Harry Yanchev (+359 56) 897 003.

Branches of "United Bulgarian Bank" in the country, as specified in Appendix № 1 of this Prospectus within their time with customers from Monday to Friday from 8.30 am to 16.30 pm;

The website of the Management Company at: www.ubbam.bg 2.18. Information concerning the manner, amount and calculation of remuneration payable

by the fund management company, the depositary or third parties, and reimbursement of

costs by the fund management company, the depositary or third parties


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Remuneration payable by the Fund to the Management Company The management fee is defined as the rate of 2.5% (two point five percent) of the average annual net asset value of the Fund. The remuneration is calculated on each business day on the basis of working days a year, at the end of the year equaled. In case you get overpaid amount from the Fund, it is deducted from the salary for December. Management Company deducts the agreed remuneration month as orders the payment from the Fund in the Custodian to the account indicated by him to 10th (tenth) day of the month following the month for which the fee is due. Remuneration payable by the Fund to the Custodian It is calculated each month based on the contract for depository services, which include: fee for checking calculated by the Management Company net asset value, net asset value per unit, issue price and redemption price of the Fund, fee for storage and transfer of financial instruments, bank fees for transfers, fees for corporate events, assistance in implementing the Convention for the avoidance of double taxation / or other ongoing costs associated with managing the Fund's portfolio. Remuneration payable by the Fund to third parties (investment intermediaries, the Central Depository, the Financial Supervision Commission) It is calculated based on the contract or tariff to third parties. Reimbursement by the FUND The FUND reimburses the costs incurred by the Management Company only when it has been incurred in the setting up of the FUND. The FUND does not reimburse third party costs. 3. Information on the depositary bank:

3.1. Name, legal form, headquarters.

Name : CB "Eurobank Bulgaria" Headquarters and registered office : Republic of Bulgaria,. Sofia, Vitosha, Ring Road № 260; Date of establishment : 15.05.1991. Registered in the register of companies by Decision № 1 of the 7th, the SCC of 15.05.1991, on the company file № 10646/1991 g parties. № 414, Volume 4, p. 91 re-registered in the Commercial Register to the Registry Agency with UIC 000694749; License № B 05 / 02.04.1991, issued by the Bulgarian National Bank (BNB) for banking activities; Telephones : (+359 2) 8166 235, 8166 236 Fax : (+359 2) 988 81 31, 988 81 10 E-mail : [email protected] Web - site : www.postbank.bg 3.2. Main activity.

Dematerialized financial instruments held by the Fund are registered in the "Central Depository“ JSC to the sub-account of the Custodian and other assets are stored in a depository bank that performs and all payments on account of the Fund. Custodian:

controls determination by the Management Company of net asset value, issue price and the redemption price of units of the Fund;

provides issue, repurchase and cancellation of Units of the Fund is carried out in accordance with CISOUCI ACT, acts on its application and rules of the Fund;

monitor compliance with CISOUCI ACT, acts on its application and rules of the fund when calculating the value of its units;


http://www.postbank.bg/

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monitor the transfer in the usual deadlines for the Fund of all cash arising from transactions with the assets of the portfolio;

ensuring the collection and use of proceeds of the Fund is carried out in accordance with the law and rules of the Fund, including monitor whether the management fee is calculated and paid in accordance with the law and rules of the Fund and whether it complied with the limit for expenditure on account of the FUND ;

Dispose of the assigned storage assets of the Fund only by order of authorized persons and if the orders do not contravene the law, the fund rules or the Contract for depository services;

regularly, at least once a month, reports to the management company for the assets entrusted and operations with them;

Upon revocation of the license to conduct business, termination or bankruptcy of the management company perform management functions for a period not exceeding three months to conclude a contract with another management company or conversion of the Fund through merger and upon receipt approval for replacement of the management company or the conversion of the Fund from the financial supervision Commission.

Obligations of the Depository Bank BANK - The Depositary is obliged: In connection to the depository service of the Fund in Bulgaria:

1. To keep ownership of the Fund in Bulgaria, dematerialized financial instruments are kept in a depository institution to a sub-CUSTODY BANK and other assets of the Fund are kept his name in CUSTODY BANK;

2. To receive cash of the Fund and to store the same in the discovered on his behalf bank accounts;

3. To adopt storage available financial instruments and certificates of dematerialized financial instruments held by the Fund;

4. To accept and register leads in dematerialized government securities acquired by the Fund in accordance with the requirements of Regulation №5 of National Bank and Ministry of Finance;

5. To take due care in the performance of their duties, guided only by the interests of the unitholders of the Fund, including:

6. To monitor the translation in the usual deadlines for the Fund of all cash arising from transactions with the assets of the portfolio;

7. Dispose of entrusted assets of the Fund only by order of authorized representatives of the management company managing the fund (MC) unless the orders conflict with the law, the fund rules or the custody agreement.

8. To ensure the issuance / sale / repurchase and cancellation of Units of the Fund undertaken by AMC in accordance with CISOUCI Act, acts on its application, this Prospectus and the Fund Rules;

9. To open a current account service issue and redemption of units of the Fund; Shortage of funds on it to immediately notify AMC in writing and to execute the orders of the latter;

10. To oversee the calculation of net asset value, issue price and redemption price of shares of the Fund is carried out by the management company in accordance with ZDKISDPKI, the acts for its implementation rules, the Prospectus and the Rules for valuation and determination of the net asset value of the Fund. In establishing error in calculating the net asset value per share, resulting in a difference in the issue price or redemption price by more than 0.5% of the net asset value per share CUSTODY BANK shall immediately notify the MC, with to implement the provisions of Article 63 and 64 of Ordinance 44. for the control ABM provides to the appropriate time indicated in the rules for valuation and determination of the net asset value of the fund on the day of their determination, all information calculated net asset value, net asset value per unit, issue price and redemption of Fund units, as well as all information about fixing them, including the number of sold and repurchased shares settlement is completed. CUSTODY BANK sends confirmation of the correctness of the calculated net asset value, the net asset value per unit, issue price and redemption price of the Fund units with an official letter or encrypted and electronically signed e-mail ( e-mail), to be sent to the AMC to the appropriate time specified in the rules for valuation and determination of the net asset value of the Fund on the same day. If

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CUSTODY BANK has found violations or errors, it shall notify the AMC immediately and make adjustments to the issue price and the redemption price.

11. Ensuring the collection and use of proceeds of the Fund to comply with the law and rules of the FundAs well as to monitor whether the annual remuneration of the management company has calculated and paid in accordance with the law and rules of the Fund;

12. Immediately notify in writing the MC when he refused to comply addressed to her instructions, because contrary to law, the fund rules or with the Treaty depository services;

13. Transmitting through its Authorized Representative Authorized representatives of UD and accordingly adopted by an authorized representative of ABM any documents and information relating to the Fund, in accordance with the instructions of the MC and / or requirements of the relevant regulations or other acts if such instructions requirements or not - within a reasonable period of their receipt.

14. Upon revocation of the license to conduct business, termination or bankruptcy of MC CUSTODY BANK exceptionally perform management functions relating to The FUND for a period not exceeding three months to conclude a contract with another management company pursuant to Section I Chapter five of Ordinance 44 or the conversion of the Fund through merger or acquisition.

15. In the event of any of the circumstances under p. 14. above ABM terminates the management of the Fund and immediately (until the end of the day you became aware of the occurrence of the respective circumstance) transmitted to CUSTODY BANK all available information and documentation in the management of the Fund (on paper and / or electronic) for drawing up a written acceptance protocol.

16. CUSTODY BANK immediately began performing managerial functions under p. 14 above in respect of the planned ABM obligations under the Rules and the Prospectus of the Fund and in accordance with applicable regulatory requirements. CUSTODY BANK is obliged to take all actions to software and technical equipment and providing specialized human resources for carrying out fund management, notifying the FSC.

IN CONNECTION TO THE DEPOSITORY SERVICE OF THE FUND ON FOREIGN MARKETS OF FINANCIAL INSTRUMENTS:

17. Based on the express instructions from the MC to open and maintain accounts with Depository himself Bank-subdepositary and / or depository institution on behalf of the Fund in accordance with applicable rules;

18. To accept and keep with itself and / or sub-custodian Bank-existing Foreign FI and certificates of dematerialized Foreign financial instruments held by the Fund;

19. To accept and store himself Bank-subdepositary and / or depository institution Foreign dematerialized financial instruments held by the Fund. Foreign dematerialized financial instruments in which it invests MC for the Fund, are recorded in the Depository accounts.

20. To provide independently or through relevant sub-custodian banks dispose of property of the Fund by the MC.

21. If the applicable rules require local broker to send to the relevant Bank-subdepositary expressly transaction confirmation with parameters identical to the instruction of the AMC, to provide independently or through corresponding banks subdepositary dispose of property at the expense of the Fund only after receipt of confirmation of Local agent and provided that the parameters of the confirmation and instruction match;

22. To adhere strictly to the applicable rules and instructions to the ABM when the parameters of the last match those of confirmations of transaction on purchase / sale of local estate agent if required by applicable law;

23. To take due care in the performance of his duties under this section, guided by the interests of ABM and shareholders of MC, including to ensure that the payments associated with transactions with ownership of the Fund, to be carried out within the prescribed period to dispose of the stored ownership at the expense of the Fund only instructions of authorized representatives of the MC, unless instructions contrary to the law, the rules and the Prospectus of the Fund or of the contractual relationship between the custodian Bank and MC, within three (3) working days

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after request by MC for opening an account of a market in financial instruments, to provide ABM written information about the specific characteristics of the market in financial instruments to which the AMC has expressed a desire to open an account in respect of the rules of settlement and the tax treatment of transactions in foreign financial instruments and the rights associated with them, as well as related to the acquisition, ownership and disposition of Foreign FI, based on explicit instructions from the MC to open accounts / and the relevant markets in financial instruments and written notice to the MC by sending e-mail to / and at the latest by 12:00 pm. local time on the business day following the day of the settlement of a transaction for the purchase or sale of foreign financial instruments, confirmation of executed settlement to inform and represents the MC for corporate events, to assist the MC in connection with the payment of taxes and other;

In the performance of their duties the Custodian shall act independently and solely in the interest of all unitholders of the Fund. Custodian is responsible to the Management Company and the unitholders of the Fund for all damages suffered by them due to default of its obligations, including incomplete, inaccurate and untimely, when it is due to reasons for which the Custodian is responsible. Custodian separately reported cash and other assets of the Fund and paid non-monetary assets of the Fund from its own assets. Custodian is not liable to its creditors with the assets of the Fund. Creditors of the Custodian may be satisfied from its holdings of units of the Fund. Eurobank Bulgaria uses the following sub-depository banks on foreign capital markets:

Bank of New York Mellon Eurobank Ergasias S.A. Bancpost, Romania Clearstreambanking, Luxembourg Deutsche Bank A.Ş., Turkey Stopanska Banka AD – Skopije, Macedonia

4. Custodian separately reported cash and other assets of the Fund and paid non-monetary

assets of the Fund from its own assets. Custodian is not liable to its creditors with the

assets of the Fund. Creditors of the Custodian may be satisfied from its holdings of units of

the Fund.

At the date of update of the Fund's Prospectus no external consultants who are paid at the expense of the Fund. 5. Functions of the "UBB Asset Management" JSC in the organization and management of the Fund The activity of organizing and managing the fund management company regulated in CISOUCI ACT, FIMA and regulations and specific functions, rights and obligations to the Management Company to the Fund and unitholders are covered in detail in the fund rules and set out in this Prospectus . The management company established, transformed and terminate the fund and appoint a liquidator, decide on selection and replacement of the Custodian, the investment intermediaries authorized to carry out investment orders registered auditor. In the his statutory powers to include the adoption and amendment of the Rules and the Prospectus of the Fund, the Rules of portfolio valuation and determination of the net asset value document with key investor information and all other acts related to the activities of the Fund. These actions are carried out by a decision of the Board of Directors to the Management Company under the terms and conditions provided in its Statutes. When the activity of art. 4 para. 1 CISOUCI Act related to the public offering of units of the Fund, as well as their redemption, the management company performs on its own behalf and on behalf of the

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Fund all legal and factual considerations. Representation of the Fund and its operational management are implemented by the Executive Director and the Procurator of the Management Company.

According to the Rules of the Fund, the Fund's management "UBB Asset Management" JSC carries out the following specific functions and activities:

Investment Management of the Fund

Management Company actively managed investment fund in accordance with the investment objectives of the Fund and within the limits of its investment activities and policies prescribed by law, the Prospectus and the Fund Rules, analyzing capital market forms the portfolio of financial instruments, evaluate the results of its management , revise and restructure the portfolio of the Fund. In the investment management of the Fund Management Company (through an investment adviser) formulate concrete investment decisions and gives orders for execution of transactions in financial instruments on one or several investment firms designated by him referred to in this Prospectus.

There is opportunity in giving orders for concluding OTC financial instruments, the management company to negotiate both at the expense of the Fund on behalf / on its own behalf and on behalf of another managed by it collective investment scheme when they are party deal, including to determine the way of completion of the transaction - such as delivery versus payment or free delivery (suspension). The management company should in this case to determine prices in this type of transaction in the best interest of both managed by it collective investment schemes - Parties, while their conclusion drawn justification document referred to in procurement prices.

Sale of units of the Fund

The management company offering investors the fund units every day as far as selling is not terminated as a result of the suspension of redemptions in the cases provided for in the law or the Prospectus Rules of the Fund. Sold (issued) units are held by individual sub-accounts of investors to the account of the Management Company in the "Central Depository" JSC. The investors paid cash in a special account with the Custodian found in favor of the Fund or in a special collection at the expense of MC "UBB Asset Management" JSC at the UBB. Raised funds in the account to the Management Company shall be transferred to the Custodian no later than the end of the next business day.

Redemption of units of the FUND

The management company bought by investors units of the Fund each day, as far as redemption is not suspended in the cases provided by law, the Prospectus and the Fund Rules.

Preparation and publication of the Fund's Prospectus

Management Company prepares Prospectus of the Fund in accordance with the requirements of the law containing the necessary for making informed investment decisions information on economic and financial position of the Fund and the rights associated with the units offered.

The prospectus of the Fund is updated whenever the essential data included therein and in 14 days be submitted to the Financial Supervision Commission.

Rules of the Fund and rules for valuation and determination of the net asset value of the Fund

The fund rules adopted by the Board of Directors of the Management Company. They lay down the conditions for participation in the fund, its organization, management, termination rights attaching to the units, and arrangements for distribution of profits (dividends); its investment policy and investment limits; requirements for allocating assets in the portfolio and others.

The rules for valuation and determination of the net asset value of the Fund contain the principles and methods of valuation of assets and liabilities and the system of organization of work on calculating the net asset value per unit, the issue value and the redemption price ; requirements relating to compliance with the restrictions on the costs associated with the Fund.

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Change in rules and rules for valuation and determination of the net asset value of the Fund is permitted after approval of the Financial Supervision Commission.

Accounting and legal service of the Fund

The management company separates his property from that of the Fund and to draw the Fund own balance sheet, prepare all accounting, tax and other documents provided by law, and submit them to the authorities. The Management Company performs legal services to the Fund.

Exercising the rights under the financial instruments in the portfolio

The management company at the Fund all tangible and intangible rights related to the holding of financial instruments such as human interest and dividends right out loud and others. The resulting interest payments, dividends are received on behalf of the Fund at the the Custodian.

Disclosure of information about the Fund

The management company discloses to the relevant authorities and investors information provided by law circumstances.

The management company shall provide the Commission for Financial Supervision annual report and half-yearly report covering the first six months of the financial year and informed about other important information, in accordance with the relevant legal terms, conditions and requirements for the minimum content of the information disclosed.

The management company disclose to the public information about the Fund in the manner specified in the Prospectus.

The management company shall submit to the Financial Supervision Commission to half-yearly additional information determined by regulation. The management company shall submit to the Financial Supervision Commission for supervisory purposes to the 10th day of the month following the reporting, monthly balance sheet of the Fund and information about the volume and structure of investment portfolio by issuers and types of securities.

Marketing and promotion of the Fund

The management company carries out marketing and promotion of the Fund.

Contacts with investors and unitholders

The management company determines a person of employees that contacts with investors and unitholders of the Fund. The management company shall be liable to the unitholders of the Fund for all damages suffered by them due to default of its obligations when it is due to reasons for which the company is responsible.

Other significant activities

Monitoring and risk assessment for each position of the portfolio and its impact on the risk profile of the portfolio as a whole;

distribution of dividends (part of profits) and other payments; execution of contracts; approving accounting policy of the Fund; selection and award of contracts for the execution of investment orders by investment firms; selection and signing a contract with the depository bank; appointment and dismissal of statutory auditors to certify the annual financial statements of the

Fund; drafting and adoption of the annual financial statement after certification by statutory auditors; monitor and analyze financial markets with a view to possible changes in investment objectives

and policies of the Fund; structures and manages a portfolio of transferable securities, financial instruments or other liquid

financial assets and evaluate its effectiveness;

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take a decision to stop the sale and redemption of units of the Fund as provided by law the Rules of the Fund and this Prospectus cases.

Distribution of costs between the "UBB Asset Management" JSC and the Fund

The management fee is determined shall be determined by the Board of Directors as a rate of 2.5% (two point five percent) of the average annual net asset value of the Fund. According to a decision of the Board of Directors for changing the Rules of the Fund from 13.01.2012, the management fee amounts to 2.90% of the average annual net asset value of the Fund The remuneration is calculated every day on the basis of working days a year, at the end of the year equaled. In case you get overpaid amount from the Fund, it is deducted from the salary for December. The Management Company deducts the agreed remuneration month as orders the payment from the Fund in the Custodian to the account indicated by him to 10th (tenth) day of the month following the month for which the fee is due.

The costs on account of the Fund are as follow: - Organizing (formation); - To The Management Company for the preparation of all documents required for obtaining

a permit from the Financial Supervision Commission; - Remuneration to the Management Company; - Remuneration of the Custodian of the Fund; - For commissions on contracts with investment firms which execute investment orders - For certification of accounts by a registered auditor; - For State fees; - For Surveillance; - under a contract with "Central Depository" JSC and the fees for administration of the

units according to the tariff of the "Central Depository" JSC. "UBB Asset Management" JSC daily charge all due account of the Fund expenditure. According to the Rules of the Fund, all expenses related to the activities of the Fund (which is paid with funds of funds) may not exceed 5% of the average annual net value of the assets on the balance sheet of the Fund.

Costs for the "UBB Asset Management" JSC in connection with the implementation of organizing and managing the activities of the Fund are as follows:

- Preparation and making investment decisions; - Analysis of financial markets; - In determining the net asset value, the issue price and the redemption of the Fund; - The exercise of rights under the financial instruments owned by the Fund, except as

related costs are borne by the Fund; - The costs of keeping the accounts of the Fund; - Subsequent update originally drafted the fund's prospectus, when available; - Legal services; - Marketing and promotion of the Fund.

6. Information concerning the arrangements for making payments to the holders of units,

redemption of units and the provision of information on collective investment scheme.

Payments on orders for redemption is carried out by the Management Company in favour of the unitholders:

- by explicitly mentioned bank account "UBB" JSC when the redemption order is filed with the office of UBB according to a list Appendix 1 to this Prospectus;

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- by explicitly mentioned bank account holder of shares in the bank, at his request, when the redemption order is filed in the office of "UBB Asset Management";

- at the cash desk in the office of the Management Company when the redemption order is filed in the office of "UBB Asset Management".

After placing an order for redemption of units of the Fund on the next business day, based on the estimated cost of redemption is carried out registration in the Central Depository of repurchased units. Once completed settlement of the transaction, within 10 days of the registered order is carried out and payment of the amount in order to buy back units of the Fund to the account which the customer has indicated in the contract or in cash at the office of the Management Company. Under the restriction of cash payments, payments in the country are made only by bank transfer or deposit in a payment account, where a value equal to or exceeding 10 000 Levs. As of the date of preparation of this Prospectus, the Fund does not charge redemption costs, ie the redemption price is equal to the net asset value per share of the Fund. The Management Company provides information on CIS, which is published on the company website.

7. Other investment information:

7.1. Performance of the collective investment scheme (if applicable) for previous years.

a) Data on the volume, structure and dynamics of the assets of the contractual fund including the availability of securities of one or other type - total and by type of assets

Assets 31.12.2016 Structure of the assets to the total value

Cash and cash equivalents 481 135.68 100.00% Total: 481 135.68 100.00%

By the date of this update of the Prospectus, the Fund has no financial results for previous years. The value of the units of the Fund and the income from them can go down. Profit is not guaranteed and the investors take the risk of not recovering their investment in full. Investments in the Fund are not guaranteed by a guarantee fund established by the state or any other warranty. b) Selected financial information for each of the last 3 years: MF "UBB Global Dividend" is established on 17.03.2016, while public offering of its units is launched on 11.04.2016, as the nominal value per unit from 10 leva. B1) dividends and other distributions per unit: For 2016 the Fund has not distributed dividend. B2) the NAV per unit at the end of the period:

Date 30.12.2016

NAV/1 unit 10.0426 lv.

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c) the minimum, maximum and weighted average issue value (IV) and redemption price (RP) for each of the last 3 years:

EP to 25 thous. Lv.

EP 25-100 thous. Lv.

EP 100-200 thous. Lv.

EP over 200 thous. Lv.

RP without fee

Year 2016

Minimal value 10.0000 10.0000 10.0000 10.0000 10.0000

Maximal value 10.0426 10.0426 10.0426 10.0426 10.0426

Averageweighted value 10.0243 10.0243 10.0243 10.0243 10.0243 *Until reach of the net asset value of MF “UBB Global Dividend” in amount of 1 000 000 lv, are not calculated issuance

fees. After this – the issuance value will be with calculated issuance fee in amount of 2% of the NAV per unit, which refers for orders to 25 000 lv. and first installments on SIP contract; 1.5% of NAV per unit, which refers for orders between 25 000 – 100 000 lv.; 1% of the NAV per unit, which refers for orders between 100 000 – 200 000 lv. For orders over

200 000 lv. – 0%. For subsequent orders on SIP the issuance fee is 0%. d) number of units outstanding at the end of the year and the number issued, sold and repurchased

units for each of the past three years: As at the date of the Prospectus update, UBB Global Dividend has not borrowed. The value of the FUND's units and the income from them may decrease. Profit is not guaranteed and investors take the risk of not re-investing their investments. Investments in the FUND are not guaranteed by a government guarantee fund or other type of guarantee. 7.2. Profile of the typical investor for which the fund was intended.

The fund is typical for risky type of investors, who are looking for higher profits for their investments and are willing to accept the possibility of adverse changes in the prices of shares of the Fund.

An investor in units of the Fund has long term investment goals for increasing the value of invested funds by realizing mainly capital gains and to a lesser extent – dividend and interest income, at medium to high risk.

The typical investor in units of the Fund is looking for securing high liquidity of invested funds, although he is not set speculative.

Investor in units of the Fund can be any Bulgarian or foreign legal and natural person who has the above investment objectives and seek to reap the benefits and advantages of the collective investment scheme.

Diversification. The risk is distributed and, therefor, decreased. By owning units of the Fund rather than individual shares or bonds, the risk is distributed. By

investing in a larger number of assets loss on individual investment is minimized by gains in others. Self-investment is difficult and often impossible to build this type of portfolio, given the required funds.

Professional and cheaper management – for a single investor is more expensive to hire a professional to manage investments.

Cost efficiency and economies of scale – by trading with large volumes of securities, the fund is able to achieve on account of the fund economies of scale and thus performed transactions with lower transaction costs versus those incurred by individual investors.

Liquidity – Fund units can be converted into cash at any time. Possibility of investing temporarily free funds. Investing their money in the fund unit holder has access to unavailable or not as effective markets

for individual investments.

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The Fund operates under strict regulatory control. It is a public - open for investors fully consistent with existing legislation and is controlled by the Custodian, independent of the management company, the Financial Supervision Commission and the "Central Depository" JSC;

Buy and sell units of the Fund's easy. The typical investor in units of the Fund is generally the individual investor, willing to take minimal risk and invest their savings or any part thereof in an alternative financial instrument that allows to achieve a higher return than traditional bank deposits despite the risk which brings not be guaranteed positive result of the investment. The typical investor in units of the Fund expects higher profits, seeks to financial independence and security in the long term and aims to avoid possible short-term fluctuations in prices of securities. The occupation of the investor in units of the Fund is irrelevant. The investor in units of the Fund is determined not so much by age and income, than with his tendency to more agressive investments, but with a controlled level of risk. This is a man who manages their income to meet their daily expenses and be able to think about the future in the medium and long term. The occupation of the investor in units of the Fund is irrelevant. It is not necessarily an active investor and not necessarily understands and knows the financial instruments market, but its investment culture allows to realize that savings may work for him and to be invested in different investment vehicle than regular bank deposit or real estate. Fund activity is directed towards banks, collective investment schemes, pension and insurance companies and other companies that legislation does not prohibit to invest part of its assets in financial instruments portfolios. These are investors who would like to diversify the risk of their own securities portfolios or invest their available cash.

The recommended time to invest a minimum of five years.

8. Economic information:

8.1. Cost data of the Fund for the last three years preceding the year of the update of the

Prospectus

By the date of preparation of the Prospectus, the Fund has made no expenses made for the past 3 years. 8.2. Data adopted by "UBB Asset Management" JSC "Policy of action in the best interest"

By decision of the Board of Directors of 28.02.2014. "UBB Asset Management" JSC adopted amendments adopted by the company "Policy of action in the best interest" under which are treated fairly holders of the CIS it manages. That covers the activity of the established after the adoption of policies CIS. This section provides summary information on the content of the adopted policy. The full policy can be found on the corporate website of the company: www.ubbam.bg. For the purposes of this section "CIS" is a collective investment scheme which is organized and managed by MC "UBB Asset Management" JSC (including the Fund) and the "Client" is a client of the Management Company on a contract for individual portfolio management.


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"UBB Asset Management" JSC will take all necessary actions to ensure the best possible results and will act in the best interests of the UCITS and / or clients when implementing solutions for transactions on behalf of their respective UCITS and / or Client in portfolio management. "Best execution" under adopted by the company "Policy of action in the best interest" is a series of procedures and arrangements implemented by the "UBB Asset Management" JSC in order to ensure the best possible result for the CIS and / or clients when executing orders. The policy includes the types of classes of financial instruments and persons to whom "UBB Asset Management" JSC submit orders, so as to ensure the fulfillment of the obligation to act in the best interest. "UBB Asset Management" JSC will put the interests of any group of unitholders over the interests of another group of holders. "UBB Asset Management" JSC seeks to operate in a manner that will prevent the imposition of unnecessary costs for CIS and the holders of its units. "UBB Asset Management" JSC treated equally and fairly relevant and CIS clients and making due diligence to protect their interests. "UBB Asset Management" JSC comply with all requirements applicable to its operations, to act honestly and professionally in order to protect the interests of unitholders, CIS and customers, and ensuring the stability of the financial instruments market. The management company shall act in the best interest of CIS / clients when executing decisions about transactions on their behalf and at their expense. "UBB Asset Management" JSC take all reasonable steps to obtain the best possible result for CIS / customers, taking into account price, costs, duration, likelihood of execution and settlement, volume and type of contract or any other circumstance related performance of the contract. To determine the relative importance of these factors, the following criteria:

objectives, investment policy and risks specific to the CIS, as indicated in the prospectus, the fund rules and investment restrictions related to individual portfolio management;

characteristics of the contract; the characteristics of financial instruments subject of the contract; the characteristics of the execution venues to which can be allocated order.

The assessment of best execution of orders on behalf of CIS / Clients not bound only by determining the best price for CIS / clients, but also with all other listed below factors. If a transaction with financial instruments is established that it is not executed at the best possible price offered on the market at the time of its conclusion, it does not breach the requirement of best execution of the order. Upon assessment by the "UBB Asset Management" JSC of the execution of all CIS / clients under the best conditions for them to take into account the complex impact of the following factors:

The market price of the financial instrument – "UBB Asset Management" JSC takes into account the price formation mechanisms in places of execution of contracts for financial instruments to determine which location is most favorable in terms of price.

The price usually depends on the number of market participants, the behavior of market makers (if any) and the organization of the stock exchange on which are traded on the relevant financial instruments. The price of financial instruments evaluated together with the cost of the each order on behalf of clients, is considered by the "UBB Asset Management" JSC as the most important factor if the customer is categorized as retail. This factor is considered to be decisive when choosing a place for the execution of client orders;

Transaction costs related fulfillment of the order (Commissions and other fees) – "UBB Asset Management" JSC evaluates the costs associated with orders on behalf of CIS / clients and execute orders priority by third parties who offer the best conditions in terms of implementation costs. Compliance with the previous sentence is carried out without sacrificing the quality of third-party services. Costs associated with implementation, include all costs directly related to the execution of the order, including fees for execution venue fees, clearing and settlement, as well as other fees and charges payable to third parties involved in the execution of the order.

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The speed or velocity of the performance - The speed of execution of orders submitted depends on the price of financial instruments. Speed of execution on a regulated market or a multilateral trading system is determined largely by the type of market model (ie the organization of trade in the relevant market set out in its rules and applicable law).

The possibility of full execution and settlement - "UBB Asset Management" JSC assessed on a case likely to be fulfilled given order.

The volume and nature of orders, and any other factors relevant to the execution of the order - Volume or number of financial instruments orders are directly related to the price of financial instruments and transaction costs.

Type and nature of the order - "UBB Asset Management" JSC assesses what would be the best result for CIS / Client and assess all factors depending on the nature and type of order - purchase, sale, exchange, etc .; limited, markets, etc.

Any other factors, relevant to the execution of the order at the expense of CIS / Client and achieving the best result.

The main criteria for determining the best result, "UBB Asset Management" JSC accepts the price of the instrument and the costs of execution of the order. In cases where the factor of execution, different from all the relevant factors e adopted as a priority in terms of a contract, then the contract is implemented, taking into account this factor. Relations between "UBB Asset Management" JSC and CIS / clients are built on the foundation of mutual trust, confidentiality of information and mutual financial benefit in compliance with legal requirements. “UBB Asset Management" JSCact in the best interests of the CIS it manages, as have others execution of orders on behalf of these schemes in managing their portfolios. "UBB Asset Management" JSC in fulfillment of the obligation under the preceding sentence shall take all reasonable steps to obtain the best possible result. "UBB Asset Management" JSC regularly monitor the implementation of this policy by third parties with whom the company has contractual relations and in particular the quality of performance on their part and, if necessary, remove the defects. Upon execution of the expense of CIS / Customers "UBB Asset Management" JSC respect the limits, prohibitions, requirements and conditions of the applicable law, the CIU's mandate in accordance with their prospectuses, the General conditions applicable to contracts with clients and specific contract including applying measures to implement the orders objectively the best possible conditions for CIS / clients. "UBB Asset Management" JSC adopt and implement procedures and measures that ensure prompt, proper and speedy implementation of the transactions with the assets in the portfolios of CIS / clients. Procedures and measures meet the following requirements: 1. to ensure that executed on behalf of CIS / Customer orders are duly and correctly recorded and distributed; 2. to perform consistently and properly comparable orders CIS / clients unless it is hardly feasible because of the nature of the order or prevailing market conditions or the interests of the scheme require otherwise. 3. financial instruments or cash amounts received in settlement of the executed orders shall be transferred promptly and accurately account of the CIS / Client. "UBB Asset Management" JSC can not misuse information relating to pending (unfulfilled) orders CIS / Client, and take all reasonable steps to prevent the misuse of such information by persons working under contract for him. "UBB Asset Management" JSC can unite only orders on behalf of CIS / customers regarding the same type financial instruments and arrangements which do not differ in type and nature. It is permissible unification of orders on behalf of CIS / Customers whose characteristic "quantitative performance" is different, ie orders that are executed "partially" with those who are running "full". "UBB Asset Management" JSC can not fulfill the request of a CIS, uniting it with ordering another scheme that manages or another client or with an order for its own account, unless the following conditions:

Prospectus


51

1. there is little likelihood of reunification orders to prejudice the interests of any CIS / customers whose contracts will be merged; 2. "UBB Asset Management" JSC has adopted and effectively implemented policies for unification and allocation of orders that contain enough specific rules for fair distribution of the combined orders, including how the volume and price of orders determines allocations and treatment in cases of partial performance. In cases where the "UBB Asset Management" JSC combines order at the expense of CIS / clients with one or more other orders and the aggregated order is partially executed, it allocates the related transactions - the result of execution of the order accordingly. When the "UBB Asset Management" JSC combines orders to the CIS / clients with transactions for its own account, the company divides the relevant transactions in a way that does not prejudice the CIS or other clients. When the "UBB Asset Management" JSC combines order at the expense of CIS / clients with a transaction for own account and the combined contract is partially filled, "UBB Asset Management" JSC separates the relevant transactions CIS or other client priority before sections dealing on own account. "UBB Asset Management" JSC implement a procedure to avoid re-allocation of transactions for own account, executed together with orders on behalf of CIS / clients where this is to the detriment of the customer. In cases where the "UBB Asset Management" JSC "combines order at the expense of CIS / clients with a transaction for own account and the united order is partially executed, it allocates transactions on behalf of CIS / Customers priority before segregating transactions for its own account. If "UBB Asset Management" JSC can reasonably prove that without the union could not execute orders on behalf of CIS / customers under such favorable conditions for them or that it could not execute it, it may allocate the transaction proportionally between himself and CIS / clients. Provided that the order at the expense of CIS / clients has been fulfilled more favorable than the set price, the entire benefit belongs to the CIS / clients. "UBB Asset Management" JSC will avoid the unified purchase order to be executed at different prices for different parts of the total volume of orders on behalf of CIS / clients. "UBB Asset Management" JSC may aggregate orders on behalf of CIS / Customers only if they are limit orders. "UBB Asset Management" JSC may aggregate orders on behalf of CIS / Customers only if the securities are kept in a depository institution its same. "UBB Asset Management" JSC act honestly, fairly and professionally in accordance with the best interests of the CIS and customer contracts for individual portfolio management in connection with the management and administration of the investments of the CIS / Client will pay or receive a fee or commission, or provide or receive non-monetary benefits, unless they are: 1. fee, commission or non-monetary benefit paid by or relevant CIS / client or a person on behalf of the respective CIS / Client or received by such person; 2. fee, commission or non-monetary benefit paid by or to a third party, or received by him or a person acting on behalf of a third party when the following conditions are met: a) the existence, nature and amount of the fee, commission or benefit, or where the amount can not be established, the method for calculating the amount, must be clearly disclosed to the relevant CIS / client in a comprehensive, accurate and understandable manner before providing the service ; b) the payment of a fee or commission or the provision of non-cash benefits should aim to improve the quality of the service and does not impede compliance with the obligation of "UBB AM" to act in the best interests of the CIS / Client; 3. The specific charges that are allowed or required to provide the relevant service, including custody fees, settlement and exchange, regulatory fees, taxes and legal fees, and which by their nature can not lead to conflicts of interest with obligations "UBB AM" to act honestly, fairly and professionally in the best interest of CIS / Client. “Policy action in the best interest" is available to all current and potential customers and shareholders of the Management Company.

Prospectus


52

8.3 Possible expenses or fees, other than the charges mentioned in t.2.16 of this

Prospectus divided according to whether they are paid by the holder of

units or of the assets of the Fund

Any costs or fees paid by unitholders

Other fees to be paid by the unitholder are described in the Management Company's Tariff. The fees are paid by the investor only if he/she wishes a service specified in the Tariff, namely: issuance of a depository receipt of a unit holder, transfer of units from a sub-account of the unit holder to “UBB Asset Management” to a sub-account with an investment intermediary / Depositary bank, taking of units from the sub-account of the unit-holder at an investment intermediary / Custodian bank to a sub-account at “UBB Asset Management”, receipt of confirmation and other documents related to the submitted order, by post, fee on a SIP Contract (once with each new contract up to 50 BGN including, if the parameters are changed under a contract already concluded, no fee is collected). The Tariff of the Management Company is available on the web site of the company - www.ubbam.bg. Any possible costs or fees paid based on the fund's assets

Besides cost, the expense of the Fund referred to in point. 5 of this Prospectus other costs or fees paid based on the fund's assets do not provide. 8.4. Date last updated of the Prospectus: 18.09.2017.

For "UBB Asset Management": _____________________ ________________________ Katina Peycheva Stefan Tamnev Executive Director Procurator

Appendix № 1 List of branches

MF „UBB GLOBAL DIVIDEND”

- 1 -

Supply (sale) and redemption of units of "UBB Global Dividend" is performed in the office of the Management Company "UBB Asset Management" and the branches of United Bulgarian Bank JSC

as follows:

Office Address, phone number

Virtual branch U-FUND - http://ebb.ubb.bg Working Hours 0.00-24.00

„UBB Asset Management” JSC

blvd. „Todor Aleksandrov” 9, 1000 Sofiq,

Tel.: (+359) (2) 811 3760-67, 811 374-78 Fax: (+359) (2) 811 3769

Working Hours: Monday to Friday: 8.30-17.00

Region Branch Address, phone number

1 Sofia East Aleksander Malinov

1784 Sofia, Blvd. "Aleksandar Malinov" 31

Tel.: 02/ 8922843

Fax: 02/ 8810008

Working hours: 8:30 – 16:30, Monday - Friday

2 Sofia East Business Park - Sofia

1715 Sofia, Mladost 4,

Business Park Sofia, bulilding № 8

Tel.: (+359) 2 976 1065, 976 1061


3 Sofia East Dianabad

Sofia, Dianabad , Blvd. Nikola Gabrovski № 61

Tel.: 02/ 8169031

Fax: 02/ 9624583

Working hours: 8:30 - 16:30, Monday - Friday

4 Sofia East Dondukov

Sofia, Blvd. "Dondukov" 27

Tel.: 02/ 9308191

Fax: 02/ 9308199


5 Sofia East Dragan Tsankov

1421 гр. Sofia

str.''Dragan Tsankov'' N36

Tel.: (+359) 2 970 86 80


6 Sofia East Iskar

1528 Sofia,

str." 5006 " № 2

Tel.: (+359) 2 807 48 53, 807 48 54


7 Sofia East Jerusalem

Sofia, Blvd. " Jerusalem " 12

Tel.: 02/ 8177802; 02/ 8177801

Fax: 02 / 9746449


8 Sofia East Maria Luiza

1202 Sofia,

Blvd."Knyaginya Mariya Luiza" N 70

Tel.: (+359) 2 811 3156, 811 3140


http://ebb.ubb.bg/



- 2 -

9 Sofia East Airport

1540 Sofia

Sofia Airport

Tel: (+359) 2 8113842; 8113843


10 Sofia East Oborishte

1505 Sofia, str." Oborishte" 123

Tel.: (02) 942 59 41

Fax: (02) 942 59 49


11 Sofia East Slatina

Sofia, Slatina, str. Slatinska bl.20

Tel.: 02 / 8072072

Fax: 02 / 9714966


12 Sofia East Suha Reka

1517 Sofia, " Suha Reka ", bl.209 A

Tel.: 02/ 9485452

Fax: 02/ 9461794


13 Sofia East Students’ City

1700 Sofia, Student’s City, str. "Akad. B. Stefanov" 1

Tel.: 02/ 9609093

Fax: 02/ 8684081


14 Sofia East Rakovski

1000 Sofia,

Blvd."Rakovski " №108

Tel.: (+359) 2 815 4720


15 Sofia East Rimska Stena

Sofia,Blvd."Hristo Smirnenski" 8-12

Tel.: 02/ 8194161

Fax: 02/ 9630972


16 Sofia East Shipka

1504 Sofia,

str. Shipka N 25

Tel.: (+359) 2 942 59 16


17 Sofia East Universiada

1111 Sofia

Blvd. "Shipchenski Prohod" 9

Tel.: 02/ 9702019, 02/970 20 15

Fax: 02/ 9702017


18 Sofia East Druzhba-2 - Sofia

1000 Sofia, Druzhba-2, Blvd. "Tsvetan Lazarov" bl. 206

Tel.: 028112872


19 Sofia East G.M.Dimitrov 1000 Sofia, Blvd. "G.M.Dimitrov" 14Б

Tel.: 028072951


20 Sofia East Aleksander Nevski 1000 Sofia, str. "Oborishte" 1-3

Tel.: 029420961



- 3 -


21 Sofia West Garibaldi

1000, Sofia, str.”Angel Kanchev”2

Tel.: 02/ 9262011; 02/ 9262014

Fax: 02/ 9807643


22 Sofia West Doiran

1618 гр. Sofia, str."Gen. Stefan Toshev" 1-9

Tel.: 02/ 80 80 593

Fax: 02/ 95 57 229


23 Sofia West Ivan Vazov

1408 Sofia,

Blvd."Vitosha" № 99, bl.55

Tel.: (+359) 2 917 7042


24 Sofia West Kostenski vodopad

1404 Sofia, str. "Kostenski vodopad" №47

Tel.: 02/ 8113715

Fax: 02/ 8508420


25 Sofia West Krasno selo

1618 гр. Sofia,

2 Hubcha Str.

Tel.: 02/ 8184722

Fax: 02/ 9554358


26 Sofia West Lozenec

1407 гр.Sofia,

str."Zlaten rog" № 20-22

Tel.: (+359) 2 917 6082


27 Sofia West Lulin

1336 Sofia, Blvd. "Dz. Neru" 28

Tel.: 02/ 8120986

Fax: 02/ 8120989


28 Sofia West Lulin-4

1336 Sofia, Lulin 4,bl.417 P,

Tel.: 02/ 8100672

Fax: 02/ 9271043


29 Sofia West Macedonia

1606 Sofia,

Blvd."Hristo Botev" №47

Tel.: 02/ 9154665

Fax: 02/ 9523854


30 Sofia West Nadezhda

Sofia, жк. " Nadezhda 1", Blvd. "Lomsko shose", bl. 171

Tel.: (02) 813 20 10

Fax: (02) 813 20 19




- 4 -

31 Sofia West Ovcha Kupel

Sofia, Ovcha Kupel, Blvd. "Montevideo"

Tel.: 02/ 8053250

Fax: 02/ 9562582


32 Sofia West Opalchenska

1233 Sofia, str. "Opalchenska" 117-123, bl. 37

Tel.: 02 / 810 28 70, 810 28 72

Fax: 02 / 9314006


33 Sofia West Saint Sofia

1000 Sofia

str.Saint Sofia" № 7a

Tel.: (+359) 2 811 2176, 811 2182


34 Sofia West Stamboliyski

1000 Sofia, Blvd. "Al. Stamboliyski " 130-132

Tel.: 02 / 8155632

Fax: 02 / 9201603


35 Sofia West Fr. Nansen

1202 Sofia,

str.” Fr. Nansen’’ N 9

Tel.: (+359) 2 930 7977


36 Sofia West Hladilnika

1407, Sofia,

Blvd."Cherni vrah" N 51B

Tel.: 02/ 8167712

Fax: 02/ 8688453


37 Sofia West Tzar Boris III

1618 гр. Sofia, str."Sofiyski geroy” 1

Tel.: 02/ 9154083


38 Sofia West Hristo Botev

гр. Sofia, Blvd. "Hristo Botev" 90

Tel.: 02/ 8904902

Fax: 02/ 8310037


39 Plovdiv Asenovgrad

4230 Asenovgrad, sq. "Akademik Nikolay Haytov" № 3

Tel.: 0331/ 20025

Fax: 0331/ 62098


40 Plovdiv Batak

4580 Batak

sq. "osvobozhdenie" 2

Tel.: (+359) 03553 3742


41 Plovdiv Belovo 4470 Belovo, str. "Orphey" 5

Tel.: (03581) 4402



- 5 -

Fax: (03581) 38 27


42 Plovdiv Velingrad

4600 Velingrad

Blvd."Al. Stamboliyski" N 1

Tel.: (+359) 359 56 564


43 Plovdiv Gladston

4000 Plovdiv

str."Gladston" N 7

Tel.: (+359) 32 65 49 92


44 Plovdiv Town Rakovski

4150 Rakovski, str.”Petar Bogdan” № 77

Tel.: 03151/ 2274

Fax: 03151/ 2374


45 Plovdiv Karshiyaka

4000 Plovdiv

Blvd. "Dunav" № 5

Tel.: 032 92 42 01

Fax: 032/ 941083


46 Plovdiv Kiuchuk Parish

4004 Plovdiv, str. “Pere Toshev” 5

Tel.: 032/ 277561; 032/ 277562

Fax: 032/ 670017


47 Plovdiv Pazardzhik

4400 Pazardzhik

str."August 11th" N 2

Tel.: (+359) 34 40 93 61


48 Plovdiv Panagiyurishte

4530 Panagiyurishte

str. "P. Bobekov" 1

Tel.: (+359) 0357 60021


49 Plovdiv Peshtera

4550 Peshtera

str."Mihail Takev" N 65

Tel.: (+359) 350 600 41


50 Plovdiv Pirdop

2070 Pirdop, sq.''Todor Vlaykov' bl. Б1

Tel.: 0728/ 68001

Fax: 07181/ 8821


51 Plovdiv Plovdiv

4000 Plovdiv

str."Parchevic" N 2

Tel.: (+359) 32 60 67 91, 60 67 90




- 6 -

52 Plovdiv Paldin

4000, Plovdiv, Blvd. "Bulgaria" 19

Tel.: 032/ 921320; 032/ 921321

Fax: 032/ 940680


53 Plovdiv Smirnenski

4002 Plovdiv, str."Solunska" 1a

Tel.: 032/ 278812

Fax: 032/ 642679


54 Plovdiv Smolyan

4700 гр.Смолян

str. "Bulgaria" N 5

Tel.: (+359) (301) 67 081


55 Plovdiv Trakia

4023 гр. Plovdiv, Trakia, str.Saedinenie 49

Tel.: 032/ 606691; 032/ 606694

Fax: 032/ 681886


56 Plovdiv 6th September

4000 Plovdiv, Blvd. "6th September" 146

Tel.: 032/ 270262

Fax: 032/ 633084


57 Region

Blagoevgrad Bansko

2770 Bansko,

str."Pirin" N:7

Tel.: (0749) 888 24



58 Region

Blagoevgrad Blagoevgrad

2700 Blagoevgrad

str."Todor Aleksandrov" N23

Tel.: (+359) 73 88 94 82


59 Region

Blagoevgrad Botevgrad

2140 Botevgrad

пл."Saransk" N 3

Tel.: (+359) 723 66 903


60 Region Blagoevgrad

Dupnitsa

2600 Dupnitsa, sq."Svoboda" 1

Tel.: 0701/ 59301; 0701/ 59302

Fax: 0701/ 50026


61 Region

Blagoevgrad Elin Pelin

2100 Elin Pelin, sq. "Nezavisimost"

Tel.: 0725 / 68931

Fax: 0725/ 60323


62 Region

Blagoevgrad Ihtiman

2050 Ihtiman,

str."Tsar Osvoboditel" 114

Tel.: 0724/ 8 22 96



- 7 -


63 Region

Blagoevgrad Kostinbrod

2230 Kostinbrod, str.Ohrid 9

Tel.: (0721) 68922

Fax: (0721) 66025



Kiustendil

2500 Kiustendil

sq."Democracy" N 1

Tel.: (+359) 78 55 98 01


65 Region

Blagoevgrad Pernik

2300 Pernik

“Krakra” square N 5

Tel.: (+359) 78 55 98 12



Petrich

2850 Petrich, str."Gradski square" 1

Tel.: 0745/ 69360

Fax: 0745/ 69369


67 Region

Blagoevgrad Pirin Blagoevgrad

2700 Blagoevgrad, Blvd. "St.St.Kiril and Metodiy" 3

Tel.: 073/ 829561; 073/ 829562; 073/ 829563

Fax: 073/ 831913


68 Region

Blagoevgrad Radomir

Radomir, sq. "Voynishko Vastanie"

Tel.: 0777/ 89902

Fax: 0777/ 82770



Razlog

2760 Razlog, str."Sheynovo" 6

Tel.: (0747) 8 90 41

Fax: (0747) 8 90 49


70 Region

Blagoevgrad Samokov

2000 Samokov

Blvd."Macedonia" N 37

Tel.: (+359) 722 68 044



Sandanski

2800 Sandanski

str."Banska"4

Tel.: (+359) 746 344 66


72 Region

Blagoevgrad Svoge

2260 Svoge, str. „Tzar Simeon” № 31

Tel.: 0726/ 2151

Fax: 0726/ 2272


73 Region

Blagoevgrad Struma

2304 Pernik, str."Leninski prospect"6

Tel.: 076/ 688550

Fax: 076/ 619496



- 8 -



Gotse Delchev

Gotse Delchev, str."Targovska" №32

Tel.: 0751/ 69404

Fax: 0751/ 60838


75 Burgas Aytos

8500 Aytos, str."Slavianska" 15

Tel.: 0558/ 29401

Fax: 0558/ 25660


76 Burgas Burgas

8000 гр. Burgas;

str. Ferdinandova № 2

Tel.: 056/897038, 056/ 897041

Fax: 056/ 875350


77 Burgas Balgarka

8800 Sliven, „Balgarka” , Blvd.”Stefan Stambolov” № 15

Tel.: 044/ 610901

Fax: 044/ 686109


78 Burgas Vasil Aprilov

8000 гр. Burgas,

str. "Aleksandrovska" 98

Tel.: 056/ 808540; 056/ 808541

Fax: 056/ 530824


79 Burgas Diana

8600 Yambol, Blvd."Tsar Ivan Aleksandar" 1

Tel.: 046/684 332

Fax:046/661 164


80 Burgas Elhovo

8700 Elhovo, str."Slavyanska" 7

Tel.: 0478/ 81325

Fax: 0478/ 88121


81 Burgas Izgrev

8000 гр. Burgas, " Izgrev " bl. 109 Б

Tel.: 056 / 563103

Fax: 056 / 521961


82 Burgas Karnobat

8400 Karnobat, str. "Georgi Dimitrov" N 10A

Tel.: 0559/ 29062

Fax: 0559/ 22882


83 Burgas Meden Rudnik 8011гр. Burgas, Meden Rudnik, zone А agg. block 416

Tel.: 056/ 878934; 056/ 878931



- 9 -

Fax: 056/ 500266


84 Burgas Nessebar

8230 Nessebar, str. ”Otec Paysiy” №54

Tel.: 0554/ 40032

Fax: 0554/ 42989


85 Burgas Nova Zagora

8900 Nova Zagora, пл."Svoboda" 2

Tel.: 0457/ 61061

Fax: 0457/ 63929


86 Burgas Pomorie

8200 Pomorie,

str."Knyaz Boris I"' 69

Tel.: 0596/ 26200

Fax: 0596/ 24158


87 Burgas Primorsko

8180 Primorsko

46 "Ropotamo" str.

Tel. 0550 / 33860, 0550 / 33861


88 Burgas Simeon Veliki

8000 Burgas, Blvd."Simeon Veliki" № 131

Tel.: 056/ 874705; 056/ 874702

Fax: 056/ 842905


89

8800 Sliven, пл."Tsar Osvoboditel" 26

Burgas Sliven Tel.: 044/ 616351; 044/ 616310

Fax: 044/ 616347


90 Burgas Sozopol

8130 Sozopol, sq."Cherno more" 1

Tel.: 0550/ 26201; 0550/ 26202

Fax: 0550/ 22489


91 Burgas Tsarevo

8260 Tsarevo, str.’’Khan Asparuh’’ N 18

Tel.: 0590/ 55141

Fax: 0590/ 52552


92 Burgas Yambol

8600 Yambol,

str."G.S. Rakovski" 34

Tel.: 046/ 685 600; 046/ 685 609

Fax: 046/ 662409


93 Varna Briz

9000 Varna

Trade center Mladost 2

(bl.147)

Tel.: 052/ 572661



- 10 -

Fax: 052/ 730130


94 Varna Varna

9000 гр. Varna, Blvd."Osmi Primorski Polk" 77

Tel.: 052/ 689121

Fax: 052/ 602859


95 Varna Veliki Preslav

9850 Veliki Preslav, str."Boris Spirov" 74 A

Tel.: 0538/ 48363

Fax: 0538/ 42075


96 Varna Vladislav Varnenchik

9000 Varna, Blvd. "Vladislav Varnenchik" 3

Tel.: 052 688 972

Fax:052 632 153


97 Varna Vladislavovo

9000 Varna, Vladislavovo, market Vladislavovo

Tel.: 052/ 595773

Fax: 052/ 560902


98 Varna Galateya -Varna

9000гр. Varna, "Chayka", bl. 27

Tel.: 052 / 785983

Fax: 052/ 780166 Working hours: 8:30 – 16:30, Monday -

Friday

99 Varna General Kolev

9000 гр. Varna, str. "General Kolev" № 73

Tel.: 052/ 679701

Fax: 052/ 614113


100 Varna Dobrich

9300 Dobrich, пл."Svoboda" No 5

Tel.: (058) 653 940; 653 943; 653 952; 653 956

Fax: (058) 600 363


101 Varna Dobrich /Office

Kavarna

Kavarna Str. „Georgi Kirkov“ 11

Tel.: 0570/ 81131 Working hours: 8:30 – 16:30, Monday - Friday

102 Ruse Dulovo

7650 Dulovo, str. "Vasil Levski" 19

Tel.: 0864/ 21001; 0864/ 21002

Fax: 0864/ 22393


103 Varna Kaspichan

9930 Kaspichan, str."madarski konnik" 40

Tel.: 05327/ 4911

Fax: 05327/ 6032


104 Varna Koloni - Varna

9000 гр. Varna,

str. "Mihail Koloni" №4

Tel.: 052/ 681384; 052/ 681381



- 11 -

Fax: 052/ 681389


105 Varna Novi Pazar

9700 Novi Pazar, sq. Rakovski №2

Tel.: (054) 85 06 01

Fax: (054) 83 04 41


106 Varna Madara

9700 Shumen , Blvd."Slavyanski" 9

Tel.: (054) 85 06 01

Fax: (054) 83 04 41


107 Varna Odesos

9000 Varna, Blvd. "Vladislav Varnenchik" N106

Tel.: 052/ 685460

Fax: 052/ 627770


108 Ruse Silistra

7500, Silistra, str."Dobrudzha" 1

Tel.: 086/ 878939; 086/ 878934

Fax: 086/ 820458


109 Varna Slivnitsa - Varna

гр. Varna 9000, str. "Pirin" 2

Tel.: 052/ 679742

Fax: 052/ 603874


110 Varna Shumen

9700 Shumen, str."Tsar Osvoboditel" 128

Tel.: 054/850468; 850470; 850472

Fax: (054) 80 06 57


111 Stara Zagora Aida Haskovo

6300 Haskovo, Blvd.”Marin Drinov„ № 4

Tel.: 038/ 601501

Fax: 038/ 624332


112 Stara Zagora Vereya Stara Zagora

6003 Stara Zagora, str. "М.М. Kusev" 6

Tel.: 042/ 693101; 042/ 693102

Fax: 042/ 602224


113 Stara Zagora Dimitrovgrad

6400 Dimitrovgrad, Blvd. "G.S.Rakovski" 19

Tel.: 0391/ 65462

Fax: 0391/ 65469


114 Stara Zagora Ivaylovgrad

6970 Ivaylovgrad, str."G.Dimitrov" 58

Tel.: (03661) 22 38

Fax: (03661) 22 38


115 Stara Zagora Kazanlak 6100 Kazanlak, sq."Sevtopolis" 14



- 12 -

Tel.: 0431/ 68703; 0431/ 68704

Fax: 0431/ 62719


116 Stara Zagora Karlovo

4300 Karlovo,

str.”Petko Sabev” № 10

Tel.: 0335/ 90752

Fax: 0335/ 99029


117 Stara Zagora Kardzhali

6600 Kardzhali, Blvd. "Bulgaria" 33

Tel.: 0361/ 66123

Fax: 0361/ 65708;


118 Stara Zagora Liubimec

6550 Liubimec, str."Ivaylovgradska" 2

Tel.: 03751/ 8961; 03751/ 8962

Fax: 03751/ 7386


Stara Zagora Momchilgrad

6800 Momchilgrad, str."Kokiche" 1

119

Tel.: 03631/ 7920

Fax: 03631/ 6785


120 Stara Zagora Radnevo

6260 Radnevo, Blvd. ''G.Dimitrov''N 6

Tel.: 0417/ 81140; 0417/ 82006

Fax: 0417/ 82006


121 Stara Zagora Svilengrad

6500 Svilengrad, Blvd."Bulgaria" 91

Tel.: 0379/ 70380

Fax: 0379/ 71329 Working hours: 8:30 – 16:30, Monday -

Friday

122 Stara Zagora Stara Zagora

6000 Stara Zagora, Blvd. "Ruski" 50

Tel.: 042/ 698637 ; 042/ 698650

Fax: 042/ 600085


123 Stara Zagora Trayana Stara Zagora

6000 Stara Zagora, Blvd. "Tsar Simeon veliki" 133

Tel.: (042) 61 74 20

Fax: (042) 60 06 84


124 Stara Zagora Harmanli

6450 Harmanli; Blvd."Bulgaria" 6

Tel.: 0373/ 85056

Fax: 0373/ 85056


125 Stara Zagora Haskovo

6300 Haskovo, str." Hristo Botev" 2

Tel.: 038/ 609701; 038/ 609710

Fax: 038/ 624490


126 Stara Zagora Chirpan 6200 Chirpan, sq. "Saedinenie" 1



- 13 -

Tel.: 0416 / 9 00 70 , 9 00 71 , 9 0072 ,9 00 73

Fax: 0416 / 92065


127 Ruse Borisova

7001 Rouse, str."Borisova" 120

Tel.: 082/ 816540

Fax: 082/ 831702


128 Ruse Byala

7100 Byala

str."Ekzarh Yosif" N 7

Tel.: (+359) 817 711 74


129 Ruse Vassil Levski - VT

5000 Veliko Tarnovo

str."Vassil Levski" N 29

Tel.: (+359) 62 61 98 25


130 Ruse Veliko Tarnovo

5000 гр. Veliko Tarnovo

str."Hristo Botev" № 3


131 Ruse Vazrazhdane - Ruse

7000 Ruse, str."Pliska"19

Tel.: (082) 81 24 65

Fax: (082) 81 24 69


132 Ruse Gabrovo

5300 Gabrovo

str."R. Karolev" N 1


133

5100 Gorna Oryahovitsa,

str."Patriarh Evtimiy" 2

Ruse Gorna Oryahovitsa Tel.: 0618/ 61770; 0618/ 60308

Fax: 0618/ 60035


134 Ruse Dve Mogili

7150 Dve Mogili

str."Stoyan Terziev" N 2

Tel.: (+359) 814 12 031


135 Veliko Tarnovo Dryanovo

5370 Dryanovo

105 "Shipka" str.

Tel.: 0676/76011 and 0676/76012

Fax 0676/72034


136 Veliko Tarnovo Etara

5300, Gabrovo, пл.”Parvi may"

Tel.: 066/ 817031

Fax: 066/ 800304


137 Ruse Isperih 7400 Isperih, str."Vasil Levski" 79



- 14 -

Tel.: (08331) 46 79

Fax: (08331) 46 79


138 Veliko Tarnovo Lovech

5500 Lovech

sq."G.M.Dimitrov"

Tel.: (+359) 68 68 92 48


139 Ruse Omurtag

7900 Omurtag

str."Antim I" N 3

Tel.: (+359) 605 36 26


140 Ruse Pavlikeni

5200 Pavlikeni, sq."Svoboda" 16

Tel.: 0610/ 51402;

Fax: 0610/ 52024


141 Ruse Popovo

7800 Popovo

str."Tsar Osvoboditel" N 15

Tel.: (+359) 608 49 021


142 Ruse Prista

7000 Ruse

str."Aleksandrovska" N11

Tel.: (+359) 82 818 954


143 Ruse Razgrad

7200 Razgrad

str."St.St.Kiril and Metodiy" N 4

Tel.: (+359) 84 640 005


144 Ruse Ruse

7000 Ruse

str."At. Burov" N 5

Tel.: (+359) 82 883 149


145 Veliko Tarnovo Sevlievo

5400 Sevlievo

str."Nikola Genev" N 15

Tel.: (+359) 66 81 80 37


146 Veliko Tarnovo Teteven

5700 Teteven

sq."S. Mladenov" N 1

Tel.: (+359) 678 56 111


147 Veliko Tarnovo Troyan

5600 Troyan

str."General Kartsov"18

Tel.: (+359) 670 50 920


148 Veliko Tarnovo Tryavna 5350 Tryavna, str."A. Kanchev" 116



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Tel.: (0677) 25 77

Fax: (0677) 25 77


149 Ruse Targovishte

7700 Targovishte

1 "Svoboda" square

Tel.: (+359) 601 69 183


150 Ruse Ferdinandova

7001 Ruse, str."Ferdinand" 1

Tel.: 082/ 880552; 082/ 880553

Fax: 082/ 82065


151 Vratcha Belogradchik

3900 Belogradchik, str. "Knyaz Boris I" 5

Tel.: (0936) 55465

Fax: (0936) 55465


152 Vratcha Berkovitsa

3500 Berkovitsa

str. "Dr. Ivan Panov" N 1

Tel.: (+359) 953 88610


153 Vratcha Byala Slatina

3200 Byala Slatina

str."Kl. Ohridski" N58

Tel.: (+359) 915 88 611


154 Vratcha Vidin

3700 Vidin

str."Tsar Aleksander II" bl. 6/7

Tel.: (+359) 94 691 461


155 Vratcha Vidin - Centrum

3700 Vidin, str."Gradinarska" 24

Tel.: 094/ 609081

Fax: 094/ 601002


156 Vratcha Varshets

3540 Varshets, str. "Republic" 70

Tel.: 09527/ 4175

Fax: 09527/ 4175


157 Vratcha Vratsa

3000 Vratsa

str."Lukashov" N 2

Tel.: (+359) 92 669 223


158 Vratcha Kozloduy

3320 Kozloduy, Bl.71

Tel.: 0973/ 89383

Fax: 0973/ 80449


159 Vratcha Kula 3800 Kula, str."Vazrazhdane" 23



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Tel.: 0938/ 3 3063;

Fax: 0938/ 3 3090


160 Veliko Tarnovo Levski

5900 Levski

6 “Svoboda” square

Tel.: (+359) 650 88 923


161 Vratcha Lom

3600 Lom

str."Slavyanska" N 38

Tel.: (+359) 971 68 63 2


162 Vratcha Mezdra

3100, Mezdra, str."Hristo Botev" 33

Tel.: 0910/ 91461

Fax: 0910/ 93027


163 Vratcha Montana

3400 Montana

str."Graf Ignatiev" N 6

Tel.: (+359) 96 399 646


164 Vratcha Ogosta

3400 Montana, str."Treti Mart" 63

Tel.: 096/ 399313

Fax: 096/ 301032


165 Veliko Tarnovo Osvobozhdenie

5800 Pleven, str. "Danail Popov" 11

Tel.: 064/888602

Fax: 064/800032


166 Vratcha Oryahovo

3300 Oryahovo

str."Vasil Levski" N 1

Tel.: (+359) 9171 22 50


167 Veliko Tarnovo Pleven

5800 Pleven

25 "Svoboda" square

Tel.: (+359) 64 89 57 30, 89 57 41


168 Veliko Tarnovo Svishtov

5250 Svishtov

str."A.Konstantinov" № 8 – а

Tel.: (+359) 631 61 673


169 Veliko Tarnovo Belene

Belene,

str. "Bulgaria" 31

Tel.: (+359) 65 838012


170 Veliko Tarnovo Cherven Bryag Cherven Bryag,



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str."Vasil Aprilov" №1

Tel.: (+359) 65 999894


171 Veliko Tarnovo Pleven – Katya Popova

Pleven,

Str. "San Stefano" 4

Tel.: (+359) 64 883412


Up to date to: 18.09.2017.