Financial regulators in the Cayman Islands have collected $73.5 million in fees for its thriving offshore sector during the last fiscal year, a roughly 8 per cent boost from the previous year. Fees collected from the investment and securities sector by the Cayman Islands Monetary Authority made up roughly 47 per cent of the total in the fiscal year that ended in June 2007. The addition of 1,127 funds to the sector during the fiscal year largely drove the increase in collections, the regulatory agency said. There were 8,972 funds in the territory as of June 2007. The banking sector accounted for second largest amount of collections, 33 per cent or roughly $25 million in the Cayman's financial sector, which has the globe's sixth-largest banking centre by asset size.