ARTICLE · 24 NOVEMBER 1997

Fund Administration In Bermuda

Bank Of N.T. Butterfield & Son Ltd

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Butterfield Corporate Services Ltd. is a wholly-owned subsidiary of The Bank of Butterfield Executor & Trustee Company Ltd., specialising in the formation and administration of offshore mutual funds and other collective investment vehicles.

Whereas the vast majority of funds in Bermuda are established in corporate form, they may also be established as unit trusts or limited partnerships. Offshore mutual funds may be denominated in any currency and most commonly invest in securities, commodities, financial instruments and derivative products. These funds are rarely sold to the general public. Instead, investors are usually high net worth individuals or institutional investors from a particular country or geographic area.

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