ITEM 5: FEES AND COMPENSATION
A. Advisory Services and Fees
Galtere Inc. was compensated for its services by its Client in the form of a monthly management
fee in accordance with the respective sub-advisory agreement.
Galtere Inc. is entitled to receive fees and compensation as stated below. The information
provided in this brochure regarding fees and expenses is not intended to be complete or final and
is qualified in its entirety by the applicable governing documents. Client should read and review
the governing documents applicable to the Client in which they are invested to fully understand
the types of fees and expenses that they will bear.
All investors in the Client pay management fees described in the Client’s current Prospectus and
Statement of Additional Information.
B. Method for Payment of Fees
Galtere Inc.’s fees were paid directly to the sub-adviser by the Adviser of the Client.
C. Additional Expenses and Fees
Galtere Inc. will pay all its own overhead expenses, including salaries, rent and all its operating
costs. Galtere Inc also pays all other expenses that deal with itsown business which include,
without limitation: legal, compliance, administrator, accounting expenses, recordkeeping, and
clerical expenses, investment expenses such as commissions, research fees and expenses
(including software and hardware expenses in connection with the provision of research and data)
insurance costs, expenses for administrative services, printing and duplication expenses, mailing
costs, filing fees, taxes, and expenses for preparation of reports prepared by Galtere Inc., external
consultants, and auditors, and other operating expenses. Galtere Inc. may also pay certain third-
party costs and expenses in connection with the purchase, implementation, and maintenance of
third-party software, systems, and platforms used by Galtere Inc. in furtherance of the
administration and operation of the Client and to ensure compliance by the Client with applicable
rules and regulations. The operating expenses may include, without limitation, costs related to
certain compliance and regulatory filings and obligations of Galtere Inc., such as position
reporting and the preparation of various regulatory reports. The Client pays all other expenses (or
an allocable portion of expenses as shared with the management company of the client) as
described in the Client’s current Prospectus.
For an in-depth discussion of the factors that Galtere Inc. considers in selecting or recommending
broker-dealers for Client transactions and determining the reasonableness of commissions and
compensation for such broker-dealers, please see the “Brokerage Practices” below.
D. Additional Compensation and Conflicts of Interest
Galtere Inc. does not receive a brokerage commission or any other compensation attributable to
the sale of securities or investment products and Galtere Inc. personnel do not receive such
compensation.
ITEM 6: MANAGEMENT
Galtere Inc. offered the Client the right to participate in all investment opportunities that it
determined were appropriate for the Client in view of relative amounts of capital available for new
investments, the investment programs, and the portfolios of the Client. In accordance with its
procedures, Galtere Inc. endeavored to treat the Client in a fair and equitable manner.