based upon their Micropal ratings. The table, which can be found on Page 17, and the rankings are produced by the Bank of Butterfield.

The funds listed in the table have been narrowed down to those with a Micropal rating and are managed or advised by a Bermuda based institution. The funds are classified in ten categories. For comparison purposes the number one rated fund in the category will also be listed, whether it is based in Bermuda or elsewhere.

Even if investors do not hold funds listed in the table they will be able to compare how the funds they do hold compare in performance with others in the same category.

In a separate table, The Royal Gazette will continue to publish the net asset values (NAVs) of mutual funds listed on the Bermuda Stock Exchange.

Since more and more people are holding a wider variety of mutual funds, the Gazette was getting many requests for individual funds to be listed.

Unfortunately due to space and time constraints the previous list had reached a critical limit. We felt a ranking of funds based on ties to Bermuda will be more useful by giving investors a rough guide as to how their funds are performing in relation to others.

This week, The Royal Gazette will publish both lists, but as of next week, the NAV list will be reduced in size.

Local contact telephone numbers for the net asset values (NAVs) of funds listed here are at the bottom of the new table.

Contact Bank of Butterfield chief investment officer Ian Coulman at 299-3818 if you have any queries.