In the first six months of the year, Barclays Global Investors turned a profit of 157 million pounds, or $286.8 million, up 73% from 91 million pounds in the first six months of 2003.

Although foreign exchange rates were less than stellar, Barclays said it was not affected terribly. Fees went up 37%, and a new exchange-traded fund really helped the company, it said.

"Barclays Global Investors had an excellent first-half performance," the company said in a statement. "It continued to benefit from strong flows of net new assets, growth in higher margin products and continued good investment performance."

Thanks to 28 billion pounds in new assets and 16 billion pounds of new assets tallied by market movement, the company said its assets under management increased 6%.

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