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7. Administrative expenses

(in CHF 1 000)

Administrative expenses comprise the following:

 

 

01.01.–30.06.2021

 

01.01.–30.06.2020

Asset manager

 

 

 

 

– Management fees (incl. VAT)

 

25 089

 

19 012

Personnel

 

 

 

 

– Board of Directors remuneration

 

708

 

580

– Wages and salaries

 

129

 

131

– Social insurance contributions and duties

 

59

 

65

 

 

25 985

 

19 788

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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