2006 £m |
2005 (as restated)* £m |
|
---|---|---|
Fees receivable | 39 | 36 |
Deal-related costs | (15) | (9) |
Total | 24 | 27 |
* As restated for the adoption of IFRS.
Fees receivable include fees arising from the ongoing management of the portfolio together with fees arising from making investments. Deal-related costs represent fees incurred in the process to acquire an investment.