The bank balances of € 14.2 million are freely available to the Fund as at 31 December 2016. In order to minimalise the costs of the negative interest rate on the bank balances, during 2016 the Fund used 30-day bank deposits.

For 2016, before appropriation of result

The other payables relate to invoices yet to be received for maintenance of and investments in the portfolio.

Basic earnings per share are calculated by dividing the net result attributable to shareholders by the weighted average number of ordinary shares outstanding during the year.

In 2016, € 112.5 million (2015: € 104.1 million) was paid as dividend.

As at 31 December 2016, the Fund’s total future commitments amounted to € 634 million (2015: € 692 million).

The Residential Fund and members of the Supervisory Board and Board of Directors of Bouwinvest Real Estate Investment Management B.V. (Bouwinvest) and the other entities under management by Bouwinvest, qualify as related parties of the Fund.

Bouwinvest is the manager and the Statutory Director of the Fund. The management fee paid for the year 2016 amounted to € 17.2 million (2015: € 14.3 million).

The table below shows the fees charged over the year 2016 by Deloitte Accountants B.V. and the Deloitte Network in respect of activities for the Residential Fund.