Report of the Board of Directors

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Mission and strategy

Bouwinvest is an investment manager specialised in real estate for institutional investors, with assets under management of € 6.7 billion, managed by 128 professionals (fte), all of whom are based in Amsterdam.

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Progress made in 2014

Highlights 2014 Growth of assets under management to € 6.7 billion (10%)  Return on assets under management 6.5% (excl. forex) and 8.8% (incl.

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Outlook

We expect most real estate markets to continue to recover in 2015 and beyond, and we are generally positive on the outlook for the growth of returns from our assets under management.

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