According to the query of Baidu Library, generally speaking, the performance and reward accrual benchmark of private equity funds refers to a accrual benchmark determined by the fund manager according to the actual performance of the fund after the investment period is over. Accrual basis usually includes fixed income part and performance income part.
The performance income part refers to the expenses that the fund manager extracts from the fund assets according to the actual performance of the fund. These expenses usually include management fees and performance pay. Management fees are accrued in the same way as fixed income, while performance rewards are related to the performance of the fund.