Bouwinvest received a management fee of in total € 30.7 million (2015: € 30.5 million), of which € 29.2 million (2015: € 29.1 million) is based on the assets under management and € 1.5 million (2015: 1.4 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.
| | 2016 | 2015 |
Bouwinvest Dutch Institutional Residential Fund N.V. | 3,995,034 | 3,151,198 |
Bouwinvest Dutch Institutional Retail Fund N.V. | 824,201 | 738,335 |
Bouwinvest Dutch Institutional Office Fund N.V. | 525,988 | 554,723 |
Bouwinvest Dutch Institutional Hotel Fund N.V. | 189,232 | 147,923 |
Bouwinvest Dutch Institutional Healthcare Fund N.V. | 53,733 | 34,066 |
Bouwinvest Development B.V. | 108,285 | 111,939 |
bpfBOUW (mandates International Investments & Heritage) | 2,760,396 | 2,757,141 |
Total | 8,456,869 | 7,495,325 |
The management fee in 2016 was € 30.7 million (2015: € 30.5 million). For the funds this fee is calculated as 0.5% of the ‘net asset value’; for the international investments of bpfBOUW it is calculated as 0.3% of the ‘net asset value’.
The management fee for the project development activities amounted to € 1.5 million (2015: € 1.4 million).