exchange to recognise the regulatory achievements of the Mauritius Offshore Business Agency Authority (MOBAA), by designating the Indian Ocean country as a "Recognised Jurisdiction.'' The rapidly expanding offshore jurisdiction now joins an approved BSX list.

Funds which are not from a recognised jurisdiction are restricted to "qualified investors'', under listing regulations of local and other leading exchanges.

BSX CEO William Woods said: "The relevance of this recognition is that investment funds which are established in Mauritius and approved by the MOBAA can now be listed on the BSX, without having to restrict the fund to institutional investors only.

"This status reflects the level and credibility of MOBAA's regulatory regime for Mauritian funds, which is broadly equivalent to the level of regulation in Bermuda, and gives the BSX a competitive advantage over other exchanges for the listing of investment funds which are domiciled in Mauritius.'' In recent years, Mauritius has been the domicile of choice for an increasing amount of investment into India.