Item 5: Fees and Compensation
A. The Investment Manager generally receives management fees and performance based
compensation for its advisory services. The management fees payable by the Clients
start at 1% per annum however they may vary depending upon factors such as, among
others, the type of account or the amount of assets being managed, the investment
horizon or time period associated with the assets being managed. Management fees
may vary and in some cases may be negotiable, and may be payable more or less
frequently depending on the Client and the arrangement. With respect to the Fund, the
Management Fee Rate is determined as follows:
Relevant Period Management Fee
Rate
For the 24-month period from the 1%
date of issuance of such shares /
interests
For the 24-month period from the 0.9%
second anniversary of the date of
issuance of such shares / interests
From the fourth anniversary of the 0.8%
date of issuance of such shares /
interests
B. The Management Fee payable by the Clients is calculated monthly and paid monthly or
quarterly in arrears.
The amount of the management fee is usually prorated for periods of less than a full
billing period or for any redemption by an investor that is effective other than as of the
last day of a month. The Management Fee is calculated by reference to the net asset value
before deduction for any accrued incentive fee (“Incentive Fee”) or investor related
taxes. The net asset value of the Fund is determined by its Fund Administrator and for
the SMAs by the respective custodian.
C. Clients may incur expenses which include but are not limited to brokerage commissions,
interest expenses, clearing and settlement charges, custodial fees, wire transfer fees and
other taxes and fees on brokerage accounts and investment transactions. The
Investment Manager may decide to hire external service providers to assist in certain
functions, such as valuation, risk management and proxy voting services, whose expenses
may be charged to the relevant Clients or pro rata across (applicable) Clients. Similarly,
third party research expenses may be charged to Clients on a pro-rata basis. Operational
expenses may also include organisational, administration, auditing, regulatory and
reporting costs as well as, if any, entity level specific taxes and any interest, penalties or
expenses relating to any taxes and any tax proceedings; and extraordinary expenses,
such as litigation expenses.
Further information on expenses are specified in the Funds offering documents or in the
specific agreement entered into with each SMA.
D. We do not require our fund clients to pay any fees in advance for our advisory services.
Arrangements for segregated managed accounts may differ and may be negotiated on a
case by case basis. If any segregated managed accounts pay fees in advance, should that
account close, then any fees owing would be repaid to the client. For detailed fee
information please refer to the relevant offering documentation.
Albert Bridge Capital LLP Form ADV Part 2A
At the sole discretion of the board of directors of the Fund, the Management Fee may be
waived, reduced or calculated differently with respect to certain investors, including,
without limitation, investors that are members, shareholders, partners, affiliates or
employees of Albert Bridge or its affiliated entities, members of the immediate families
of such persons and trusts or other entities for their benefit. Without the consent of the
Fund investors, the Management Fee may be charged to and paid by the Master Fund
instead of the Cayman Feeder Fund or the Partnership.
Albert Bridge may, in its sole discretion, pay a portion of the Management Fee to
intermediaries, placement agents or other third parties.
E. Albert Bridge and its employees do not accept compensation, including sales charges or
service fees, from any person for the sale of securities or other investment products.