7. Administrative expenses
Administrative expenses comprise the following:
|
in CHF 1 000 |
|
01.01.–31.03.2022 |
|
01.01.–31.03.2021 |
|
Investment manager |
|
|
|
|
|
– Management fees (incl. VAT) |
|
10 093 |
|
12 658 |
|
Personnel |
|
|
|
|
|
– Board of Directors remuneration |
|
290 |
|
353 |
|
– Wages and salaries |
|
61 |
|
47 |
|
– Social insurance contributions and duties |
|
41 |
|
20 |
|
|
|
10 485 |
|
13 078 |
The remuneration model of BB Biotech AG is determined by the Board of Directors.
Since 2014 the remuneration paid to the investment manager is based upon a 1.1% p.a. all-in fee on the average market capitalization without any additional fixed or performance-based elements of compensation. The compensation of the Board of Directors consists since 2014 of a fixed compensation.