20 Contingent liabilities and assets

As at 31 December 2014, the Fund had total future commitments amounted to € 5.4 million (2013: € 1.1 million) and fully relates to commitments due within one year.

The Fund has a contractual agreement with Bouwinvest REIM for an indefinite period in which it has to pay a management fee, based on the net asset value. The notice period is 2 years.