Bouwinvest received a management fee totalling € 46.1 million in 2019 (2018: € 38.5 million), consisting of € 45.2 million (2018: € 38.3 million) based on the invested capital. The fee for the project development activities was € 0.9 million (2018: 0.2 million) on the basis of the invoiced instalments.
Bouwinvest provides real estate services to the following funds and entities (group companies, as defined in article 2:24b of the Dutch Civil Code). The company’s total invested capital at year-end is stated below.
| | 2019 | 2018 |
Bouwinvest Dutch Institutional Residential Fund N.V. | 6,529,289 | 5,761,761 |
Bouwinvest Dutch Institutional Retail Fund N.V. | 979,393 | 969,680 |
Bouwinvest Dutch Institutional Office Fund N.V. | 1,077,155 | 771,241 |
Bouwinvest Dutch Institutional Hotel Fund N.V. | 333,192 | 259,111 |
Bouwinvest Dutch Institutional Healthcare Fund N.V. | 262,368 | 178,443 |
Bouwinvest Development B.V. | 64,779 | 63,337 |
bpfBOUW (mandates International Investments & Heritage) | 3,687,279 | 3,274,238 |
Total | 12,933,455 | 11,277,811 |
For the funds, the management fee is calculated as 0.5% of the net asset value. For bpfBOUW’s international investments the fee is calculated as 0.25% of the net asset value.