Recent developments in polymer microstructured optical fibres allow for the realisation of microstructures in fibres that would be problematic to fabricate using glass-based capillary stacking. We present one class of such structures, where the holes lie on circular rings. A fibre of this type is fabricated and shown to be single moded for relatively long lengths of fibre, whereas shorter lengths are multimoded. An average index model for these fibres is developed. Comparison of its predictions to the calculated properties of the exact structure indicates that the ring structures emulate homogeneous rings of lower refractive index resulting in the ring structured fibres behaving approximately as cylindrically layered fibres.