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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.

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