20 Contingent liabilities and assets

As at 31 December 2016, the Fund had unprovisioned contractual obligations for future repairs and maintenance of € 3.0 million (2015: € 3.2 million). The total future commitments as at 31 December 2016 amounted to € 159 million (2015: € 5.4 million). The commitments relates to the acquisition of Hourglass (Amsterdam) and the redevelopment of The Olympics (Amsterdam).

The Fund has a contractual agreement with Bouwinvest for an indefinite period in which it has to pay a management fee, based on the net asset value. The notice period is two years.