Fees and Compensation — Form ADV Part 2A (3/21/2017)
[Brochure]
Item 5: Fees and Compensation
Item 5.A.
Each Separate Account pays BCM a management fee of 1.00% per annum for accounts under $25
million, and the fee for accounts above $25 million is negotiable.
The Voyager Fund has two classes of shares, A-Class Shares and I-Class Shares, which pay
management fees of 1.60% and 1.00% per annum, respectively.
The Voyager Fund has an expense cap in place which can significantly reduce the management fees
received by BCM.
Item 5.B.
BCM’s custodian, on behalf of BCM, automatically deducts fees from each Separate Account pursuant
to its custodial agreement. Each Separate Account client provides authorization by signing a client
agreement with the custodian and the investment management agreement between BCM and the client.
As a sub-investment manager to the Voyager Fund, BCM is paid by EII Capital Management, Inc., the
Voyager Fund’s investment manager.
Item 5.C.
Separate Account clients whose assets are invested in money market funds where a management fee is
assessed as a client expense, may be paying an advisory fee to the investment manager as well as the
money market fund manager.
Item 5.D.
Fees are paid quarterly in arrears based on the net market value of each Advisory Client account at
quarter-end.
Item 5.E.
BCM is compensated solely for providing advisory services, and not for the sale of securities or other
investment products, and mutual funds.
Account Minimums and Types of Clients — Form ADV Part 2A (3/21/2017)
[Brochure]
Item 7: Types of Clients
BCM provides discretionary investment advice to high-net worth individuals, trusts and institutional
clients. BCM also provides sub- advisory services to a UCITS fund (as defined in Item 4.B.) organized
under the laws of Dublin, Ireland.