英語翻譯
Value partner - performance fee income receivable accounting polciy
The Group recognises revenue when the amount of revenue can be reliably measured,it is probable that future economic benefits will flow to the entity and specific criteria have been met for each of the Group’s activities as described below.
The amount of revenue is not considered to be reliably measurable until all contingencies relating to the provision of services have been resolved.Revenue is recognised as follows:
(a) Fees from investment management activities
Management fees are recognised on a time-proportion basis with reference to the net asset value of the investment funds and managed accounts.
Performance fees are recognised on the performance fee valuation day of the investment funds and managed accounts when there is a positive performance for the relevant performance period,taking into consideration the relevant basis of calculation for the investment funds and managed accounts.
(b) Fees fro m fund distribution activities
Front-end fees are recognised on a straight-line basis over the estimated holding periods of the investors in the investment funds.Any unrecognised amounts are treated as deferred income.
Back-end fees are recognised upon redemption by the investors in the investment funds.
(c) Interest income
Interest income is recognised on a time-proportion basis using the effective interest method.
(d) Dividend income
Dividend income is recognised when the right to receive payment is established.
Distribution fees
Distribution fees represent rebates of management fee,performance fee and front-end fee income by the Group to the distributors for selling its products.Distribution fees are recognised when the corresponding management fees,performance fees and front-end fees are earned by the Group and the Group is obliged to pay the rebates.