has surpassed 100, making the BSX one of the fastest growing offshore exchanges for mutual fund listings in the world.

Last week the BSX's Listing Committee approved the listing of an additional 41 funds, raising the total number of listed funds to 105. These include the 27 Mutual Risk Management Funds and 14 Schroders Funds.

"This is a very significant milestone for the exchange and reflects the hard work and determination of the past 18 months,'' said BSX chief executive officer William Woods.

"We have been working to develop the BSX as an internationally recognised fully electronic offshore securities exchange,'' he said. "To report that the exchange has now listed more than 100 mutual funds is another important step in our development and adds greatly to our credibility.'' Woods said that a number of factors have contributed to the BSX's success as the domicile of choice for mutual fund listings: simple, flexible regulations, a quick listing process, competitive fees and a stable history. In addition, there is the international recognition through the US Securities and Exchange Commission "Designated Offshore Securities Market'' status, and maximum exposure for listed funds through Bloomberg, Reuters and the BSX's own web site on the Internet.

The BSX now has more than 180 listed securities and a market capitalisation of more than $37 billion (excluding mutual funds) and a monthly turnover in excess of US$1 billion.

BUSINESS BUC