Thx unionhall for the reminder of the performance fees due to LDC. According to the LCP prospectus:
the first performance fee will be payable to LDC for the period to 31st March 2007, and yearly thereafter. So LDC will be able to recognise in its accounts to 30/6/07 an additional fee receivable of £1.7m on the basis of the current LCP NAV, on top of the £1m annual management fees and other income.
I wouldn't have thought LDC could atart to accrue the performance fee receivable in its 31/12/06 accounts would it?
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