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Report and accounts 2006
| Realised 2006 £m |
Unrealised 2006 £m |
Total 2006 £m |
Realised 2005 (as restated)* £m |
Unrealised 2005 (as restated)* £m |
Total 2005 (as restated)* £m |
|
|---|---|---|---|---|---|---|
| Carried interest receivable from managed funds | 48 | 31 | 79 | 2 | - | 2 |
| Carried interest payable to executives | (40) | (24) | (64) | (30) | (36) | (66) |
| Total | 8 | 7 | 15 | (28) | (36) | (64) |
* As restated for the adoption of IFRS.
Carried interest receivable represents the Group's share of profits from managed funds. Each managed fund is reviewed at the balance sheet date and income is accrued based on fund profits in excess of the performance conditions within the fund, taking into account cash already returned to fund investors and the fair value of assets remaining in the fund.
Carried interest payable represents the amounts payable to executives from the Group's carried interest schemes. As with carried interest receivable, each scheme is separately reviewed at the balance sheet date, and an accrual made equal to the executives' share of profits in excess of the performance conditions in place in the scheme.
The above table shows carried interest on realised and unrealised assets.