Fees and Compensation — Form ADV Part 2A (3/10/2020)
[Brochure]
ITEM 5. FEES AND COMPENSATION
• CYAM’s standard management fees range between 1% to 2% of total assets. Such management fees
are generally payable in arrears at the end of each calendar quarter.
• CYAM may also receive performance-based compensation ranging between 10% to 20% of the
increase in the net asset value of Client accounts (taking into account both realized and unrealized
gains) during a calendar year, above a “high water mark” (i.e., the previous highest net asset value
at which performance-based compensation was paid). Performance-based compensation generally
is charged annually in arrears and upon an intra-year redemption by an investor in a Client.
• CYAM’s fees vary between Client accounts based on a variety of factors that include, without
limitation, complexity, size of assets, lock-up periods and the relationship between the Client and
CYAM. CYAM fees for a Client account may be amended from time to time if the conditions for
such amendments agreed upon in advance by CYAM and such Client are met.
• CYAM’s fees are invoiced periodically to the Client accounts.
• Each Client has the right to terminate its advisory agreement with CYAM upon written notice as set
forth in such Client’s advisory agreement. Upon termination of any Client account, any earned,
unpaid fees will be due and payable. Withdrawals or redemptions by investors in a Client can be
made on the terms described in such Client’s offering memorandum.
• Clients will also pay brokerage and transaction costs, auditing, administration and custodial fees,
taxes and other costs and expenses related to the trading and maintenance of Client accounts.
Such fees and costs are in addition to CYAM’s fees, and CYAM does not receive any portion of these
commissions, fees, and costs.
• In relation to brokerage and transaction costs, CYAM attempts to negotiate with the brokers and
other intermediaries the most favorable rates for its Clients. Item 12 below describes the factors
that CYAM considers in selecting broker-dealers and determining the reasonableness of their
compensation (e.g., commissions).
• CYAM does not receive any sales commissions or referral fees from any source.
Account Minimums and Types of Clients — Form ADV Part 2A (3/10/2020)
[Brochure]
ITEM 7. TYPES OF CLIENTS
• CYAM provides discretionary investment management services to US and non-U.S. Clients
consisting of: multi-fund investment companies, investment companies, alternative investment
funds, foreign funds such as UCITS, other pooled investment vehicles and separately managed
accounts. Each pooled investment vehicle has a minimum investment requirement for investors as
set forth in the vehicle’s offering memorandum, which may be waivable in CYAM’s discretion.
• Approximately 75% of the investors in Clients managed by CYAM are domiciled in Europe and the
United States.