Amova Asset Management Co Ltd

Item 5 Fees and Compensation

        This Brochure is intended for use by U.S. retirement plan sponsors, endowments, foundations,
        and other institutional investors. Accounts are generally subject to a minimum account size,
        which may be waived by Amova AM.

        Generally, Amova AM’s fee arrangements are based on a percentage of the market value of
        assets under management or advisement, although Amova AM may also charge performance-
        based fees, flat fees, or apply other alternative fee structures. The specific fee arrangements
        with respect to any given account are negotiable on a client-by-client basis. When determining
        appropriate fees, Amova AM may take into account, among other things, the account’s
        investment strategy, whether the account is a discretionary account, the level of servicing
        required by the account and the scope of Amova AM’s relationship with the client and its
        affiliates across all accounts and strategies. Amova AM generally bills clients quarterly in
        arrears.

        Separate account clients are responsible for third party expenses associated with managing
        the account including but not limited to, for example, brokerage commissions, ticket charges
        and other fees. Amova AM’s brokerage practices are discussed in Item 12 of this Brochure.
        The allocation of these expenses will be made in accordance with the agreement in place
        between Amova AM and the separate account client. Amova AM does not select account
        custodians on behalf of separate account clients or serve as the custodian of separate account
        client account assets. Clients will be responsible for charges imposed by custodians, such as
        custodial fees.

        Generally, Amova AM’s investment advisory agreements provide that either party may
        terminate the agreement upon a mutually agreed time upon prior written notice. Upon
        termination, clients pay the pro-rata portion of fees through the effective date of termination.

Item 7 Types of Clients

        Amova AM’s clients generally include institutional investors, such as corporations, pension
        funds, trust banks, charitable organizations, government agencies and funds, supranational
        organizations; as well as pooled investment vehicles, including Japanese investment trusts,
        and Amova AM Group affiliates.

Amova Asset Management Co., Ltd.
Form ADV Part 2A

        In terms of minimum portfolio amounts, the actual minimum for a particular account will be
        determined by Amova AM on a case-by-case basis, relying on a number of factors including
        (but not limited to) the types of investments to be made for the account.