6. Administrative expenses
Administrative expenses comprise the following:
in CHF 1 000 | 01.01.–31.03.2025 | 01.01.–31.03.2024 | ||
Investment manager | ||||
– Management fees | 5 527 | 6 996 | ||
Personnel | ||||
– Board of Directors remuneration | 415 | 420 | ||
– Wages and salaries | 88 | 70 | ||
– Social insurance contributions and duties | 46 | 39 | ||
6 076 | 7 525 |
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.