Astignes Capital Asia PTE Ltd

Item	5	–	Fees	and	Compensation

Generally,	the	Investment	Manager	receives	a	monthly	management	fee	in	advance	(adjusted	for
subscriptions	made	during	the	month)	of	the	net	assets	of	each	client	(the	“Management	Fee”).
Different	rates	may	apply	in	respect	of	some	classes	of	interests.		As	a	result,	please	refer	to	each
Fund’s	offering	materials	to	understand	the	manner	in	which	the	Management	Fee	is	structured,
by	 Fund.	 	 Additionally,	 in	 certain	 instances,	 the	 Management	 Fee	 may	 be	 negotiable	 and	 the
Investment	Manager	may	waive	or	reduce	the	Management	Fee	with	regard	to	Investors	that	are
employees	or	affiliates	of	the	Investment	Manager;	relatives	of	such	persons;	and	for	certain	large
or	strategic	Investors.
The	 Investment	 Manager	 receives	 performance	 compensation	 that	 is	 generally	 equal	 to	 a
percentage	of	a	client’s	net	profits,	if	any,	subject	to	a	“loss	carryforward”	provision	(the	“Incentive
Fee”).	 	 Please	 refer	 to	 each	 Fund’s	 offering	 materials	 to	 understand	 the	 manner	 in	 which	 the
Incentive	Fee	is	structured,	by	Fund.	The	Incentive	Fee	may	be	negotiable	and	may	be	waived	or

reduced	 with	 regard	 to	 Investors	 that	 are	 employees	 or	 affiliates	 of	 the	 Investment	 Manager;
relatives	of	such	persons,	and	for	certain	large	or	strategic	Investors.
Investors	are	typically	permitted	to	redeem/withdraw	capital	from	the	Funds	on	a	monthly	basis
subject	to	an	Investor’s	applicable	notice	requirement.		The	Macro	Funds	generally	require	at	least
60	days’	advance	written	notice	for	redemptions/withdrawals	and	the	Systematic	Fund	generally
requires	at	least	5	business	days’	advance	written	notice	for	redemptions/withdrawals.		The	Funds
have	generally	included	within	their	investment	terms	a	20%	gate	on	redemptions/withdrawals.
The	redemption/withdrawal	gate,	coupled	with	the	applicable	notice	period	for	any	redemption,
are	 designed	 to	 help	 the	 Investment	 Manager	 effectively	 manage	 the	 redemption/withdrawal
process.		More	specifically,	such	mechanisms	allow	the	Investment	Manager	to	have	a	clear	view
of	 cash	 outflows	 from	 the	 Fund,	 thus	 allowing	 the	 Investment	 Manager	 to	 tailor	 liquidation
scenarios	to	meet	redemption/withdrawal	needs.		The	Funds,	in	consultation	with	the	Investment
Manager,	may	waive	or	reduce	these	liquidity	and	redemption/withdrawal	terms	under	certain
special	circumstances.
Please	refer	to	the	offering	materials	of	each	of	the	Funds	for	further	details	on	investment	terms
for	each	of	the	Funds.
The	 Investment	 Manager’s	 fees	 are	 exclusive	 of	 brokerage	 commissions,	 transaction	 fees,	 and
other	related	costs	and	expenses	which	shall	be	indirectly	incurred	by	Investors	by	virtue	of	their
investment	in	a	Fund.
Such	charges,	fees	and	commissions	are	exclusive	of	and	in	addition	to	the	Investment	Manager’s
fee,	 and	 the	 Investment	 Manager	 shall	 not	 receive	 any	 portion	 of	 these	 charges,	 fees	 and
commissions.		Please	refer	to	the	offering	materials	of	the	Funds	for	further	details	regarding	fees
and	expenses.
Item	 12	 further	 describes	 the	 factors	 that	 the	 Investment	 Manager	 consider	 in	 selecting	 or
recommending	broker-dealers	for	client	transactions	and	determining	the	reasonableness	of	their
compensation	(e.g.,	commissions).

Item	7	–	Types	of	Clients

The	Investment	Manager	provides	investment	management	and	advisory	services	to	its	clients,	the
Funds,	which	are	intended	for	institutional	investors	and	other	sophisticated	investors.
Generally,	the	minimum	initial	investment	in	a	Fund	is	US	$1,000,000,	but	each	Fund’s	offering
memorandum	specifies	the	minimum	initial	investment	requirements	that	pertain	to	that	Fund.