funds are being listed on the Bermuda Stock Exchange -- the first Caribbean territory to be added to the listings there, the government announced yesterday.

"The region has shown considerable interest in the BSX for some time,'' James McKirdy, listing manager for the Bermuda exchange, said in a statement. "This amendment to our regulations means that we can now capitalise on this interest and offer BVI's rapidly growing fund business the opportunity to list on an internationally recognised, well-regulated exchange without having to go as far afield as Dublin or Luxembourg.'' Since the British Virgin Islands introduced a mutual funds industry in 1996, more than 1,600 funds have been registered or recognised in the Caribbean territory.

"We think the listing of funds on the exchange gives a greater degree of transparency for investors,'' said Kevin Mann, the Virgin Island's registrar of mutual funds.