The third annual Financial Services Challenge, an inter-company event for the British Virgin Islands' financial services industry, is set to take place on Sunday, June 24. Teams will be racing off Nanny Cay Marina in a matched fleet of IC24s (modified J/24s) for the International Finance Centre Cup.

The British Virgin Islands is home to the second largest offshore hedge fund industry in the world. The skippers' meeting will take place from 5.30pm on Friday, June 22nd at the Royal BVI Yacht Club. The first race will start at 9.00am on Sunday June 24th, at Nanny Cay. The regatta will close with a beach barbecue dinner for racers and supporters and the prize giving.

The aim of the Financial Services Challenge is to create a relaxed and informal regatta to be enjoyed by all the members of the BVI financial services industry. The primary sponsor and host for the weekend is the BVI International Finance Centre.

"Industry members tend to meet mainly at official functions, conferences or in the course of business." stated Humphry Leue, director of the BVI International Finance Centre. "We want to build on our inter-industry relationship and create a stronger community based on a social camaraderie that extends beyond regular work associated events. The Financial Services Challenge is the perfect vehicle for this and the BVIIFC is proud to be the host sponsor for the third consecutive year."