The Fund has opted for the status of Fiscal Investment Institution (FII). Although an FII is not transparent for tax purposes the FII regime is based on the principle of tax transparency.

The Retail Fund has no employees.

The Fund’s investment properties are valued by external valuation experts on a quarterly basis. The external valuation expert is changed every three years.

Investment property under construction is not (re)developed within the Retail Fund but via external parties or Bouwinvest Retail Development B.V.

The bank balances of € 20.5 million are freely available to the Fund as at 31 December 2018. In order to minimalise the costs of the negative interest rate on the bank balances, during 2018 the Fund used 30-day bank deposits.

For 2018, before appropriation of profit

The other payables relate to invoices yet to be received for maintenance of and investments in the portfolio.

Basic earnings per share are calculated by dividing the net profit attributable to shareholders by the weighted average number of ordinary shares outstanding during the year.

In 2018, € 32.9 million (2017: € 36.4 million) was paid as dividend.