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7. Administrative expenses

Administrative expenses comprise the following:

in CHF 1 000

 

01.01.–30.06.2022

 

01.01.–30.06.2021

Investment manager

 

 

 

 

– Management fees (incl. VAT)

 

18 965

 

25 089

Personnel

 

 

 

 

– Board of Directors remuneration

 

710

 

708

– Wages and salaries

 

153

 

129

– Social insurance contributions and duties

 

72

 

59

 

 

19 900

 

25 985

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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