Aspect Capital Limited

ITEM 5: FEES AND COMPENSATION
 We typically charge a management fee based on the percentage of assets under management and a performance fee based on
 the percentage of new profits. These fees vary between different accounts and programs. For example, the headline management
 and performance fees established for the Aspect Diversified Fund are 2% and 20% respectively, whereas the Aspect Core
 Diversified Program is offered at lower fees and typically charges only a management fee with no performance fee.

 We bill managed account clients for management and performance fees and the client arranges payment of these fees to Aspect
 as agreed prior to the account opening. For the Aspect Funds, the third-party administrator arranges the payment of management
 and performance fees to Aspect.

 We are only entitled to performance fees if cumulative profits generated exceed the previous highest level of cumulative profits,
 subject to a cash hurdle where applicable. This method of calculating the performance fee is prevalent in the alternative
 investment field.

 The base management fees are charged monthly, but may be charged on a less frequent basis in respect of certain Aspect Funds
 or managed accounts. Performance fees are typically assessed over longer time horizons. In addition, in some cases, we agree, in
 our sole discretion, to pay any investor, distributor or other person, or otherwise provide any of them with, a rebate or commission
 out of all or part of any performance fees or management fees paid to Aspect by the Aspect Funds or managed accounts.
 Rebates paid in respect of Aspect Fund investments can result in certain investors paying a lower effective management or
 performance fee than that specified in the offering documentation for the relevant fund.

 Where an Aspect Fund comprises a master-feeder structure, the management and/or performance fees are typically levied by the
 feeder fund in that structure, save in respect of the feeders of Aspect Diversified Fund (Aspect US Institutional Fund Limited and
 Aspect US Fund LLC) where the performance fee (in respect of Aspect US Institutional Fund Limited) or management fee (in
 respect of both feeders) is charged at the master fund level. In the case of US feeder vehicles (e.g. Aspect US Fund LLC), the
 feeder will pay a profit share to its managing member, in place of a performance fee. The managing member (Aspect Fund
 Management Cayman Limited) then passes that on to Aspect in return for Aspect providing investment management services to
 the feeder.

 Investors in the Aspect Funds receive an offering memorandum or prospectus, and a share class or sub-fund supplement for their
 respective fund, which together outlines all fees and expenses for that particular fund. The fees and expenses for each Aspect
 Fund will differ depending on the fund and its share class.

 The Administrator and Aspect are responsible for providing and bearing the cost of all office personnel, space and facilities
 required for the performance of their respective services. Each of the Aspect Funds will bear all other expenses incidental to their

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Aspect Capital Limited Form ADV Part 2A
28 July 2026

 operations and business, including certain expenses which are initially invoiced to Aspect and subsequently recharged by Aspect
 to the Funds and other accounts managed by Aspect. These expenses include (but are not limited to):

                      a)   costs relating to the investment process, including research and development and execution of trades.
                           These costs include:

                               i.   fees for hardware, software and other technology facilities to the extent used to develop and
                                    implement investment strategies,

                              ii.   fees and commissions incurred in connection with the purchase and sale of the Fund’s assets,
                                    and

                             iii.   the costs of market and other investment and counterparty related data used by Aspect in its
                                    investment process on behalf of the Fund (including licences for the delivery of such data, data
                                    terminals and a portion of the fees of third-party advisors that have been engaged to source
                                    such data or minimise such costs),

                      b)   the cost of risk and compliance monitoring and trade surveillance,

                      c)   post-trade transaction processing, reporting and oversight costs,

                      d)   fees for cash and collateral management and reporting,

                      e)   fees and expenses of professional advisors and other service providers to the Fund, including without
                           limitation legal and tax advisors, accountants, middle and back office service providers and the Fund’s
                           Auditors,

                      f)   costs of communications with Shareholders and potential investors, including without limitation, risk
                           aggregation reporting, investor reporting software, all expenses of Shareholders’ and Directors’ meetings,
                           and of preparing, printing and mailing reports, proxy statements, and similar documents to Shareholders
                           (both in connection with such meetings and otherwise),

                      g)   all taxation and corporate fees payable by the Fund,

                      h)   all regulatory costs, including without limitation, monitoring of, compliance with and reporting to
                           regulators, self-regulatory organisations or other governmental authorities,
...

ITEM 7: TYPES OF CLIENTS
 Our clients are the Aspect Funds and managed accounts. These include the following types of entity:

 ➢     Investment companies (as defined in The Investment Company Act of 1940);
 ➢     Pooled investment vehicles;
 ➢     State or municipal government entities;
 ➢     Sovereign wealth funds and foreign official institutions;
 ➢     Corporations or business entities other than those listed above; and
 ➢     Other bespoke vehicles.

 All of our clients are “qualified clients” eligible to be charged performance compensation under Rule 205-3 of The Investment
 Advisers Act of 1940, as amended. We do not issue any publications, reports or newsletters for a subscription fee or any other
 form of compensation.