A headline in Monday's newspaper on the Bank of Bermuda's All Points Multi-Manager Plc should have read that the fund had reached the $1 billion mark under management.

The Bank of Bermuda's investment fund, All Points Multi-Manager Plc, has reached the $1 billion funds under administration mark.

Launched in May 1999, the fund invests in equity and bond portfolios throughout the US, Europe and Asia. Five of the six equity portfolios have beaten their respective benchmark indices.

AON EARNINGS DROP 15 PERCENT BUC Aon earnings drop 15 percent NEW YORK -- Aon Corp., the world's No. 2 insurance broker, said on Wednesday that second-quarter profit fell 15 percent as it continued to spend money on integrating computer systems after a five-year spate of international acquisitions.

The Chicago-based company, second only to Marsh & McLennan in worldwide insurance brokerage and risk services, said second-quarter net profit fell to $129 million, or 49 cents per share, from $151 million, or 57 cents, in the year-earlier quarter.

SEA CONTAINERS TO FLOAT HOTEL ARM SHI Sea Containers to float hotel arm Bermuda-registered Sea Containers is to spin off its hotel arm this week in an initial public offering which could raise more than $200 million.

Orient-Express Hotels Ltd., which is also registered in Bermuda, is to sell 10 million shares priced at $20-23, The issue is managed by Merrill Lynch Lazard.