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Sla artikel navigatie over.Additional notes
Transactions with related parties
The following table provides the details of transactions that have been entered into with related parties for the relevant financial years. All transactions with related parties were made on terms equivalent to those that prevail in arm’s length transactions.
RELATED PARTY TRANSACTIONS
EUR x 1,000 | Amount of | Amounts due from | Amounts due to |
Fund management fee | |||
2023 | (13,109) | - | 410 |
2022 | (12,383) | - | 195 |
Other receivables and interest | |||
2023 | - | - | - |
2022 | - | - | - |
Acquisitions of completed investment property | |||
2023 | - | - | - |
2022 | - | - | - |
Prepayments on assets under construction | |||
2023 | 30,464 | - | - |
2022 | 92,001 | - | - |
Fund Management fee
The ARC Fund’s management fee has been paid to the Fund Manager, Amvest REIM B.V.
Transactions with direct stakeholders
The Investors of the ARC Fund and/or their shareholders or regulators did not have any personal interest in investments by the ARC Fund in 2023. As far as the ARC Fund is aware, no property transactions took place during the year under review with persons and/or organisations that can be regarded as direct stakeholders of the ARC Fund, other than as mentioned in the paragraph “Transactions with related parties”.
Off-balance sheet commitments
As at 31 December 2023, the ARC Fund has obligations with respect to new investment property. The total amount with respect to these obligations for 2023 onwards adds up to EUR 305 million.
Off-balance sheet rights
In 2023, the ARC Fund has received 0 subscription forms (2022: 3 forms). The total amount of off balance sheet rights for 2024 amounts to EUR 0 million relating to existing commitments (2022: EUR 120 million).
Auditor’s fee
With reference to Articles 2:382a (1) and (2) of the Dutch Civil Code, the following fees for the financial year as well as the previous year have been charged by KPMG Accountants N.V. and PwC to the ARC Fund.
Auditor’s fee
KPMG | KPMG | Total | |
EUR x 1,000 | 2023 | 2023 | 2023 |
Statutory audit of annual accounts | (226) | - | (226) |
Other assurance services | (41) | - | (41) |
Tax advisory services | - | - | - |
Other non-audit services | - | - | - |
(267) | - | (267) | |
KPMG | KPMG | Total | |
EUR x 1,000 | 2022 | 2022 | 2022 |
Statutory audit of annual accounts | (224) | - | (224) |
Other assurance services | (36) | - | (36) |
Tax advisory services | - | - | - |
Other non-audit services | - | - | - |
(260) | - | (260) | |
Subsequent events
There were no significant subsequent events at the reporting date that require reporting.
Amsterdam, the Netherlands, 19 April 2024
H-W. Wensing, Fund Director
G.N. von der Thüsen, Director Finance and Risk
D. Wedding, Portfolio Manager