its money market fund.

"The euro has at a stroke become the world's second most important currency and may one day rival the dollar as the world's leading currency,'' Butterfield chief investment officer Ian Coulman said.

"The eleven countries in the euro represent the second largest economic bloc in the world after the US. In terms of world trade the euro members actually exceed the US.'' Investors need a minimum of 5,000 euros, about $5,600 at yesterday's rates to invest in the A shares, and $5 million euros in the institutional B shares.

The current yield is 2.9 percent for A shares and 3 percent for B shares. By comparison the US dollar retail class has a yield of 4.8 percent.

Mr. Coulman said while the yield on the euro class was low right now he expected it to rise as the currency grew stronger. "The rates are relatively low right now,'' he said. In terms of going forward it's good if you have any investments and liabilities in the euro market.

The euro will more than likely be a relatively strong currency and will appreciate against the US dollar. We expect a slow gain as the euro picks up momentum.'' The triple A rated fund offers US dollar, sterling and Canadian dollar classes for retail and insitutional investors.