Bouwinvest is charged with the management and administration of the Fund. It is authorised to conduct any and all business activities related to the entire real estate investment process to achieve the Fund’s investment objectives.

The Fund’s external auditor is Deloitte Accountants B.V. Deloitte audits the financial statements of the Fund. Deloitte also audits the financial statements of Bouwinvest and of the other funds managed by Bouwinvest.

Risk management and compliance are independent functions within Bouwinvest. Their role is to identify, assess, advise on, monitor and report on financial, operational and compliance risks faced by the Fund.

Since 2014, Bouwinvest has an AFM licence as required by the AIFMD. This licence allows Bouwinvest's real estate funds to manage funds that are open for institutional investors other than bpfBOUW.

Monitoring the risks is embedded in the daily activities of the responsible line manager and is an integral part of the planning and control cycle.

Bouwinvest aims for the highest level of transparency in its communications on the financial situation, strategy, plans and other information relevant to its existing and potential investors and other stakeholders.

Optimisation of the portfolio through redevelopments and property upgrades resulted in an underperformance compared to the IPD Property Index (all properties)

GRESB Green Star classification for third successive year and GRESB 5-star rating (top 20% worldwide)

All amounts in € thousands unless otherwise stated

In 2016, the Bouwinvest Dutch Institutional Office Fund continued its optimisation strategy, completing a number of upgrades and initiating new redevelopments.