Bouwinvest received a management fee of in total € 30.5 million (2014: € 27.9 million), of which € 29.7 million (2014: € 25.7 million) is based on the assets under management and € 0.8 million (2014: 2.2 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.
| | 2015 | 2014 |
Bouwinvest Dutch Institutional Residential Fund N.V. | 3,151,198 | 2,715,283 |
Bouwinvest Dutch Institutional Office Fund N.V. | 554,723 | 565,113 |
Bouwinvest Dutch Institutional Retail Fund N.V. | 738,335 | 670,322 |
Bouwinvest Dutch Institutional Hotel Fund N.V. | 147,923 | 140,935 |
Bouwinvest Dutch Institutional Healthcare Fund N.V. | 34,066 | 15,572 |
Bouwinvest Development B.V. | 111,939 | 108,934 |
bpfBOUW (mandates International Investments & Heritage) | 2,757,141 | 2,484,047 |
Total | 7,495,325 | 6,700,206 |
The management fee in 2015 was € 29.7 million (2014: € 25.7 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 € 0.8 million (2014: € 2.2 million).