The movements in the short-term debt with regard to pension premiums were as follows:

This is a fee incentive to be paid to bpfBOUW over the year 2016.

Bouwinvest has management agreements with the funds for an indefinite period with a two-year notice period, as well as a mandate with bpfBOUW regarding the International and Heritage portfolios for an indefinite period with a five year notice period.