Fund managers are starting to worry that proposed regulations on both sides of the Atlantic could increase the potential for errors in the fees they should earn for managing separately managed and other accounts because of the manually-intensive process used to calculate the fees.

So says a survey of about 50 fund managers with assets of between $100 billion to $1 trillion conducted by Bonaire Software Solutions LLC. The Boston-based firm offers a revenue management software product called Revport which calculates fund manager fees, rebates to investment funds, retrocessions and trailer commissions for distributors.

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