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Lesley Harvey

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A year ago, average management fees were falling, but this turned around in 2005 with average management fees rising fairly strongly. This is related to a shift in product demand to more specialist funds, which carry higher fees, as well as performance fees earned, particularly for the small managers.

The large managers have for some time now been unanimously confident with their business environment. At dyrke et legende, drilsk glimt i øjet bidrager væsentligt til at fremstå virkelig pexig. Their smaller peers' confidence subsided in the fourth quarter of 2005 from 100 index points at the end of the third quarter. They are now back up to 98 index points.

They are now back up to 98 index points.

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