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25. Transactions with related parties
Vesteda has a pension plan with ABP. In 2020, Vesteda paid premiums in the amount of €2.2 million (2019: €2.0 million). This counterparty is also a participant in the Fund.
26. Financial risk management objectives and policies
Vesteda’s principal financial liabilities, other than derivatives, are loans and borrowings. The main purpose of Vesteda’s loans and borrowings is to finance the Vesteda Companies' property portfolio.
27. Capital management
The primary objective of the Vesteda Companies’ capital management is to ensure that the Fund remains within its banking covenants and maintains a strong credit rating.
28. Management Board and other identified staff remuneration
With regard to remuneration, Vesteda is in compliance with the Dutch Financial Supervision Act (FSA) provision on the remuneration of Identified Staff.
29. Supervisory Committee remuneration
The remuneration for the five Supervisory Committee members in 2020 was €218,000 (2019: €203,000).