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Financial statements

13 Management fee

Bouwinvest received a management fee totalling € 38.5 million in 2018 (2017: € 34.3 million), consisting of € 38.3 million (2017: € 33.3 million) based on the invested capital. The fee for the project development activities was € 0.2 million (2017: 1.0 million) on the basis of the invoiced instalments.

Bouwinvest provides real estate services to the following funds and entities (group companies, as defined in article 2:24b of the Dutch Civil Code). The company’s total invested capital at year-end is stated below.

 

2018

2017

Bouwinvest Dutch Institutional Residential Fund N.V.

5,761,761

4,751,642

Bouwinvest Dutch Institutional Retail Fund N.V.

969,680

888,896

Bouwinvest Dutch Institutional Office Fund N.V.

771,241

631,446

Bouwinvest Dutch Institutional Hotel Fund N.V.

259,111

221,610

Bouwinvest Dutch Institutional Healthcare Fund N.V.

178,443

112,001

Bouwinvest Development B.V.

63,337

65,020

bpfBOUW (mandates International Investments & Heritage)

3,274,238

2,753,397

Total

11,277,811

9,424,012

The management fee was € 38.5 million in 2018 (2017: € 34.3 million). For the funds, this fee is calculated as 0.5% of the net asset value; for bpfBOUW’s international investments, the fee is calculated as 0.25% of the net asset value.

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