Money managers were under huge fee pressure in 2001 because of poor...

Money managers were under huge fee pressure in 2001 because of poor market performance, according to the Competitive Challenges 2002 survey from Capital Resource Advisors’ business strategies group. The report, published later this month, noted that average fees were down more than three basis points last year. Expense growth outstripped revenue growth, rising 7% from the previous year, which helped drop profit margins to a little less than 26%, from 32% in 2000.