Contingent rights
Bouwinvest has management agreements with the Dutch funds it manages. These management agreements are for an indefinite period with a two-year notice period. In addition, Bouwinvest has three investment management agreements with bpfBOUW for the management of its International portfolios. Each of these three management agreements is for an indefinite period and can be terminated each year, with a period of notice of two years. The management fee is calculated on the basis of net asset value.
Contingent liabilities
This pertains to rental and lease agreements and the costs related to the renovation of Maincourt.
| | 2019 | 2018 |
First year | 3,832 | 5,162 |
Second to fifth year | 6,786 | 5,408 |
More than five years | 7,489 | 8,826 |
Total | 18,107 | 19,396 |