ITEM 5: FEES AND COMPENSATION
The fees applicable to each of the Funds are set forth in detail in the corresponding Offering
Documents. A brief summary of such fees is provided below.
Depending on the investment strategy and depending on the extent to which a structured
solution is implemented to meet the bespoke needs of the investor, Astra may charge
management fees, performance fees, administrative fees, collateral management fees,
structuring or origination fees or such other advisory fees as may be agreed between Astra and
the investor. For pooled investment vehicles Astra would typically charge management fees of
between 1.5% and 3% per annum of the net asset value of the investment. This is payable
monthly in arrear.
Although management and performance fees are generally non-negotiable, Astra, in its sole
discretion, may waive or modify any management or advisory fee or any other fee for any
Investor.
Other Types of Fees or Expenses
Astra is authorised to incur and pay in the name and on behalf of the Funds all expenses which they
deem necessary or advisable.
The Firm is responsible for and shall pay, or cause to be paid, all of its own ordinary
administrative and overhead expenses, including, without limitation, all costs and expenses
related to rent, furniture, fixtures, equipment, office supplies, clerical expenses and all salaries,
bonuses and benefits paid to, or on behalf of, personnel of the Firm.
The Funds/SMAs pay the costs and expenses of (i) all investment and operating expenses
incurred by such Fund/SMA relating to the sourcing, development and execution of deals and
proposed deals for the Funds/SMAs, including legal, tax and accounting expenses; (ii) the cost
of procuring an administrator, custodian, depositary, auditors or other service providers as are
necessary or desirable for the Funds/Astra to meet their regulatory obligations and (iii) the
administration of the Funds/SMAs, including (a) the charges and expenses of legal advisers and
auditors, (b) brokers’ commissions (if any), borrowing charges on securities sold short and any
issue or transfer taxes chargeable in connection with any securities transactions, (c) all taxes
and corporate fees payable to governments or agencies, (d) Directors’ fees (if any) and
expenses, (e) interest on borrowings, (f) fees and expenses incurred by the Funds/SMAs in
respect of any third party valuation consultants retained by the Fund/SMA, (g) communication
expenses with respect to investor services and all expenses of meetings of Shareholders and of
preparing, printing and distributing financial and other reports, proxy forms, prospectuses and
similar documents, (h) the cost of insurance (if any) for the benefit of the Directors, (i) litigation
and indemnification expenses and extraordinary expenses not incurred in the ordinary course
of business and (j) all other organisational and operating expenses. Such other fees, charges
and expenses, as well as dealing commissions and other non-monetary benefits, payable by
the Funds are charged at normal commercial rates. The maximum amount of fees, charges and
expenses borne (directly or indirectly) by the Funds/SMAs will depend on a number of factors
including, but not limited to, portfolio turnover, level of borrowings and the value of short sales.
Astra is responsible for their own normal and recurring operating and overhead costs.
In general, each Investor will bear its proportionate share of the Fund/SMA expenses on a pro
rata basis with respect to the size of such Investor’s capital account(s) or with respect to the
relative net asset value of the shares held by such Investor, as applicable.
Notwithstanding the foregoing, the Fund General Partner and/or the Firm, as applicable, may
specially allocate the expenses described herein in any other manner, including by allocating
certain expenses to certain (but not all) Investors, if the Fund General Partner and/or the Firm,
as applicable, reasonably determines, in its discretion, that it is more equitable to do so.
To the extent that expenses to be borne by the Funds/SMAs are paid by the Firm or its affiliates,
the Funds/SMAs will reimburse the Firm or its affiliates for such expenses. We may waive any
such reimbursement with respect to any Fund expenses. Any waiver by us for reimbursement
of any Fund expenses shall not serve as a waiver of reimbursement for any future Fund
expenses to be paid by us or our affiliates.
Neither the Firm nor its employees accept compensation, including sales charges or service fees,
from any person for the sale of securities or other investment products.