the Bermuda Stock Exchange. The open ended mutual fund's objective is to "achieve above average capital appreciation through investing in a diversified portfolio of equities issued by publicly-listed United States real estate investment trusts (REITS) and publicly-listed real estate operating companies,'' according to a press release.

Subscriptions are restricted to non-US investors and may not be traded in lots with an initial value of less than US$500,000. MRM Securities Ltd., a subsidiary of Mutual Risk Management Ltd., sponsored the listing.

INSURANCE BOOST BUC Insurance boost A major boost for the Bermuda insurance industry's marketing efforts comes tomorrow, when a $100,000 cheque will be presented by the Bermuda Insurance Symposium (BIS) to the marketing committee of the Insurance Advisory Committee (IAC).

Marketing committee chairman, Roger Gillett, will accept a cheque from the BIS chairman, Robin Spencer-Arscott, the former chairman of Aon (Bermuda) Ltd. The marketing committee funds various projects that help promote Bermuda as a significant offshore insurance market.

SOUSA ON MOVE APP BUC Sousa on move Peter Sousa, 37, has been appointed as assistant financial secretary (economic and finance) in the Ministry of Finance. He will take up the position on July 28 after leaving his current position as manager of the investment services division at the Bermuda Monetary Authority (BMA).

Mr. Sousa spent the past 11 years in various positions at the BMA. At the Ministry of Finance he will be responsible for managing and reviewing long term economic and financial policies and decisions.