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11 Management fee

Bouwinvest received a management fee of in total € 30.5 million (2014: € 27.9 million), of which € 29.7 million (2014: € 25.7 million) is based on the assets under management and € 0.8 million (2014: 2.2 million) is based on other mandates and project development activities.

Bouwinvest is an investment manager specialised in real estate for institutional investors. The company also manages a separate mandate for international investments and project development activities.

Bouwinvest delivers real estate services to the following funds and entities (group companies as defined in article 2:24b of the Dutch Civil Code). The total assets under management of the company at year-end is stated below.

 

2015

2014

Bouwinvest Dutch Institutional Residential Fund N.V.

3,151,198

2,715,283

Bouwinvest Dutch Institutional Office Fund N.V.

554,723

565,113

Bouwinvest Dutch Institutional Retail Fund N.V.

738,335

670,322

Bouwinvest Dutch Institutional Hotel Fund N.V.

147,923

140,935

Bouwinvest Dutch Institutional Healthcare Fund N.V.

34,066

15,572

Bouwinvest Development B.V.

111,939

108,934

bpfBOUW (mandates International Investments & Heritage)

2,757,141

2,484,047

Total

7,495,325

6,700,206

The management fee in 2015 was € 29.7 million (2014: € 25.7 million). For the funds this fee is calculated as 0.5% of the ‘net asset value’; for the international investments of bpfBOUW it is calculated as 0.3% of the ‘net asset value’.

The management fee for the project development activities amounted to € 0.8 million (2014: € 2.2 million).

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