Bouwinvest received a management fee of in total € 27.9 million (2013: € 27.3 million), of which € 25.7 million (2013: € 24.3 million) is based on the assets under management and € 2.2 million (2013: 3.0 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.
|Bouwinvest Dutch Institutional Residential Fund N.V.||2,715,283||2,599,612|
|Bouwinvest Dutch Institutional Office Fund N.V.||565,113||469,201|
|Bouwinvest Dutch Institutional Retail Fund N.V.||670,322||605,784|
|Bouwinvest Dutch Institutional Hotel Fund N.V.||140,935||154,992|
|Bouwinvest Dutch Institutional Healthcare Fund N.V.||15,572||11,755|
|Bouwinvest Development B.V.||108,934||128,840|
|bpfBOUW (mandates International Investments & Heritage)||2,484,047||2,090,098|
The management fee in 2014 was € 25.7 million (2013: € 24.3 million). For the funds this fee is based on 0.5% of the ‘net asset value’; for the international investments of bpfBOUW it is based on 0.3% of the ‘net asset value’.
The management fee for other mandates and project development activities amounted to € 2.2 million (2013: € 3.0 million) and can be itemised as follows:
- € 1.5 million (2013: € 1.7 million) development fee based on development turnover
- € 0.6 million (2013: € 0.8 million) development fee based on invested capital
- € 0.1 million (2013: € 0.5 million) heritage fee based on amount of invested capital