Bouwinvest has management agreements with the Dutch funds it manages. These management agreements are for an indefinite period with a two-year notice period.

All amounts in € thousands

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 pension fund costs chargeable to the financial year can be broken down as follows:

During the completion of this annual report, the world was confronted with the outbreak of the coronavirus (COVID-19).