Clough Capital Partners LP

Item 5       Fees and Compensation
                                   PRIVATE FUNDS
Each Private Fund typically pays Clough Capital a fixed quarterly management fee as of
the beginning of each fiscal quarter that ranges from 0.25% to 0.375% (1.00% - 1.50%
annualized) of the Private Fund’s beginning net asset value for that quarter. Such fixed
management fees payable by the Private Funds are generally not negotiable, although in
certain circumstances management fees may be waived or reduced. In addition, each
Private Fund also typically pays a performance-based fee or profit allocation of 15% to
20% of the net realized and unrealized capital appreciation in the Private Fund. This
performance-based compensation may be waived or reduced by Clough Capital, in its
sole discretion, and is waived for certain Limited Partners in a Private Fund. Clough
Capital has waived the performance-based compensation for certain affiliates of Clough
Capital (the General Partners of the Private Funds), family members of the Principals of
the General Partner of the Private Funds, and other entities created for a family member's
benefit. The performance-based compensation is charged only on profits in excess of a
Private Fund’s previous "high water mark."

                                    MUTUAL FUNDS
Clough Capital charges an asset-based fee for Mutual Fund investment management
services. The fee arrangement, termination, and refund policies are described in each
Mutual Fund's prospectus and SAI.
For these services, Clough Capital typically charges annual management fees that range
from 0.70% to 1.35% of the average daily total assets or net assets of the Mutual Fund,
depending on the type of assets being managed. Fees charged with respect to Mutual
Funds are subject to annual review and approval by the Board of Trustees of each Mutual
Fund. These fees and expenses are described in each Mutual Fund's prospectus, and
clients should review the fees charged by the Mutual Funds and the fees charged by
Clough Capital to fully understand the total amount of fees to be paid by the client.

                        SEPARATELY MANAGED ACCOUNTS
For separately managed accounts, management fees are normally charged based on a
percentage of assets under management. Clough Capital may be paid a management
fee in advance at the beginning of each calendar quarter based on an agreed percentage
of the market value of the holdings in the separately managed client account as of the
beginning of the quarter, or the client may pay the management fee based on an agreed
percentage of the market value of the holdings in the separately managed client account
quarterly in arrears based on the average of the net asset value as of the last day of each
month during such calendar quarter. Management fees are generally billed to the client,
not deducted from the client’s account. Clough Capital is also entitled to be paid a
performance-based fee as mutually agreed between a separately managed account client
and Clough Capital (so long as the client is a "qualified client" under the applicable
securities regulations). The performance-based fee is based on an agreed percentage of
net realized and unrealized capital appreciation on an annual basis and may be subject
to a hurdle or target performance amount that must be reached before the performance-
based fee will be paid. In addition, the performance-based fee will be subject to a “high-
water” mark such that if the account suffers a net capital loss, no performance-based fee
will be charged until the account has recovered that loss.
A minimum of $50 million in assets under management is required for separately
managed accounts, subject to Clough Capital’s discretion to accept more or less. This
account size may be negotiable under certain circumstances.
A separately managed client account agreement generally may be canceled at any time,
by either party, for any reason upon receipt of written notice. The Investment
Management Agreement between the client and Clough Capital will give the specific
notice period required, which is generally 30 days. As disclosed above, certain fees are
paid in advance of services provided. Upon termination of any separately managed
account that pays management fees in advance, any prepaid, unearned fees will be
promptly refunded. In calculating a client’s reimbursement of fees, Clough Capital will pro
rate the reimbursement according to the number of days remaining in the billing period.

                               OTHER FEES AND EXPENSES
In addition to our advisory fees, our clients are also responsible for the fees and expenses
charged by custodians and imposed by broker-dealers, including, but not limited to, any
transaction charges imposed by a broker-dealer that effects transactions for the client's
account(s). Please refer to the "Brokerage Practices" section (Item 12) of this Form ADV
for additional information.
Our clients will generally also bear all other costs and expenses related to their
investments and operations, including, without limitation, brokerage commissions and
other transaction costs, clearing and settlement charges, interest and commitment fees
on debit balances or borrowings, borrowing charges on securities sold short, stock
borrowing fees, proxy solicitation expenses, costs of liability insurance obtained on behalf
of a client, initial and variation margin, custodial fees, costs of any litigation or investigation
involving client activities, indemnification expenses, consulting expenses, the fees and
expenses of professionals providing services to the client, including legal and other
professional fees relating to potential and actual investments, audit, accounting, tax and
administration, regulatory costs, any issue or transfer taxes chargeable in connection with
any securities transactions, any entity level taxes, regulatory filing and license fees, costs
...

Item 7        Types of Clients
Clough Capital provides advisory services to: closed end mutual funds; exchange-traded
funds; private funds; and separately managed accounts, which may include private
foundations, corporations, state pension plans, and high net-worth individuals.

Account Opening Requirements: Clough Capital Private Funds have minimum
investment amount requirements, generally $1-2 million, with lesser amounts accepted
subject to the sole discretion of Clough Capital, and investors must meet certain
regulatory standards, as described in each Private Fund's Private Placement
Memorandum. Mutual Funds managed by Clough Capital generally have minimum
investment requirements as well, and these are described in each Mutual Fund's
prospectus. A minimum of $50 million of assets under management is generally required
for separately managed accounts, subject to Clough Capital’s discretion to accept more
or less.