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.

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