problems in Russia and emerging markets had the potential to slow down new funds and products listing here.

"We are definitely monitoring the situation very carefully,'' he said on Friday. "We are not seeing a direct effect. It will be interesting to see whether there will be an effect on the creation of new products. The type of mutual funds we have are broad ranged. There are some emerging opportunities for them. There are always silver linings.'' The rate of funds listing on the exchange continues to grow at a healthy pace.

At the end of September two new funds listed on the exchange bringing the number up to 132 from the 108 at the start of the year. The year started with the grant of request for withdrawal of the Aristocrat Endeavor Fund and the Invesco Prime Money Market Fund in January. Last month Guaranteed Capital Corp, was delisted as all outstanding debt under its programme was repaid. But then four funds listed in September.

Earlier, the SWGI Russian Growth Fund, which listed in February, advised the exchange it was "temporarily'' suspending valuation of net assets as of August 31.