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Investors Axel and Brice have set up a fund and hold direct investments of 45% and 55% respectively. Investor Axel has a fund management contract

Investors Axel and Brice have set up a fund and hold direct investments of 45% and 55% respectively. Investor Axel has a fund management contract but can be removed by Investor Brice without cause at any time. Who controls the fund? Explain your answer

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