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.