listing immediately after it is launched next month.

The open-ended investment company is incorporated in Mauritius for the purposes of providing shareholders with an opportunity to invest directly in the securities of companies established and operating in India.

Under the proposal, the company will hold all of the issued units of a mutual fund in India, which will be set up to invest in the securities of Indian companies.

The company is incorporated in Mauritius to take advantage of a double tax treaty between the two countries. The investment manager is INVESCO Asset Management Ltd., a subsidiary of INVESCO Plc, the global investment management group which manages over $87 billion.

The listing of the company was sponsored by BSX member Bermuda International Securities Ltd.

BSX CEO William Woods said: "We are very happy to welcome this new India fund to listing on the BSX. The BSX offers the perfect environment for the listing of investment funds which are domiciled in Mauritius in order to take advantage of the numerous double tax treaties which Mauritius has negotiated.''