The Bermuda Stock Exchange has approved listing of two companies in the Bermuda based Everest Capital group. The listing is of 5 million Class A common shares of Everest Capital International and 5 million common shares of Everest Capital Frontier.

Both companies are established in the BVI as professional funds. The Bermuda Stock Exchange only recognised the BVI as a domicile for listing funds last year.

Everest Capital International was incorporated September 26, 1991 and its assets are invested through a master feeder structure into Everest Capital Master Fund, a Cayman-domiciled limited partnership.

Its investment objective is to achieve the highest possible capital appreciation by investing in global markets.

Its investment strategy includes long/short equities, long/short high-yield and distressed (where a company is going through financial restructuring) debt, capital structure and risk arbitrage and special situations.

Everest Capital Frontier was incorporated on December 30, 1994 and its assets are also invested through a master feeder structure, but into Everest Capital Frontier Fund, another Cayman domiciled limited partnership.

Its investment objectives and strategies are similar to those of Everest Capital International but through investing in emerging markets.

Both listings are sponsored by Harbour Financial Services and are being listed under the Listing Regulations for Collective Investment Schemes and the provisions for Restricted Marketing.

Malcolm Stott, chief operating officer of Everest Capital, said: "We are very excited about working with the BSX and the listing of our two funds. It reflects our continuing confidence in, and committment to, Bermuda.''