Genesis Asset Managers LLP

Item 5 – Fees and Compensation
The Firm receives fees for investment advisory, administration and support services from GIM at a rate
agreed between GIM and the Firm from time to time pursuant to the terms of a written Intra-group QFII
Agency Agreement, which fees may include a fee based on the percentage of assets under management
by the Firm and/or fixed fees. Fees are payable at such times and frequencies as agreed by the parties to
the Intra-group QFII Agency Agreement.
Further information on the management fees charged to GIM clients is available on the SEC’s website at
www.adviserinfo.sec.gov.

Types of Clients
The Firm, by virtue of the delegation from GIM, provides portfolio management services to institutional
clients including corporate pension and certain defined contribution plans, public pension plans,
charitable institutions, foundations, endowments, registered mutual funds (on a sub‐advisory basis),
private investment funds, limited partnerships, trust programmes, sovereign funds, foreign collective
investment funds such as SICAVs (Société d’Investissement A Capital Variable), and other U.S. and
international public, quasi‐ public, and private institutions.

Conditions for Managing Accounts
As a general rule, GIM currently requires a minimum account size of US$25 million for institutional
investors in its pooled funds and US$100 million for segregated client accounts. However, the minimum
account size may be waived or modified at GIM’s discretion. Lower minimums have applied in the past.
Generally, GIM requires each client to execute an investment management agreement that details the
nature of the discretionary investment advisory authority given to the Genesis Group. With respect to
investments in pooled vehicles established by GIM, a summary of the terms of the investment
management agreement as between the pooled vehicle and GIM are generally set forth in the offering
document for such fund.
The Genesis Group had been closed to new clients since November 2011, and any new subscriptions
from existing clients since January 2015. In November 2018, Genesis Group took the decision to reopen
to limited new subscriptions in the second quarter of 2019, capping inflows as a percentage of prior-year
outflows. The Genesis Group’s intention with this soft reopening was to accommodate existing clients
who are growing, and potentially welcome a limited number of new clients for the first time in eight
years. The Genesis Group expects to remain capacity constrained but soft-opened for new assets for the
foreseeable future.