7. Administrative expenses
Administrative expenses comprise the following:
|
in CHF 1 000 |
|
01.01.–30.09.2022 |
|
01.01.–30.09.2021 |
|
Investment manager |
|
|
|
|
|
– Management fees (incl. VAT) |
|
27 806 |
|
38 537 |
|
Personnel |
|
|
|
|
|
– Board of Directors remuneration |
|
1 130 |
|
998 |
|
– Wages and salaries |
|
236 |
|
192 |
|
– Social insurance contributions and duties |
|
97 |
|
79 |
|
|
|
29 269 |
|
39 806 |
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.