GIA Partners LLC

Item 5.        Fees and Compensation

GIA has a schedule of investment advisory fees for its separately managed institutional
accounts that are managed in accordance with the products listed below. The schedule
lists standard fees, which may be negotiated under certain circumstances. To the extent
that fees are negotiable, some clients may pay more or less than other clients for the same
management services, depending, for example, on the number of related accounts, total
assets under management and guideline specifications. In addition, GIA will customize
strategies for clients according to specific mandates. Fee schedules for customized
strategies are negotiated and may be different from the fee schedules presented below.
GIA may amend its fee schedule from time to time.

Core Fixed Income
Assets                                               Fees
First $50 million                                    30 basis points
Next $75 million                                     25 basis points
Next $125 million                                    20 basis points
Negotiable over $250 million

Core Plus
Assets                               Fees
First $50 million                    35 basis points
Next $75 million                     30 basis points
Next $100 million                    25 basis points
Negotiable over $225 million

Emerging Market Corporate Debt
Assets                               Fees
First $50 million                    60 basis points
Next $50 million                     50 basis points
Negotiable over $100 million

Global Credit Plus
Assets                               Fees
First $50 million                    50 basis points
Next $75 million                     45 basis points
Next $100 million                    40 basis points
Negotiable over $225 million

Global High Yield
Assets                               Fees
First $50 million                    60 basis points
Next $50 million                     50 basis points
Negotiable over $100 million

Global Investment Grade
Assets                               Fees
First $50 million                    40 basis points
Next $75 million                     35 basis points
Next $125 million                    30 basis points
Negotiable over $250 million

High Yield
Assets                               Fees
First $50 million                    55 basis points
Next $50 million                     45 basis points
Negotiable over $100 million

Long Duration
Assets                               Fees
First $50 million                    30 basis points
Next $75 million                     25 basis points
Next $125 million                    20 basis points
Negotiable over $250 million

Short Duration
Assets                                                Fees
First $100 million                                    12 basis points
Next $100 million                                     10 basis points
Negotiable over $200 million

Fee Payment Options
GIA bills quarterly in arrears. Depending upon the terms of the account agreement, fees
may be based on the (a) average asset value of the account during the billing period, (b)
net asset value of the account on the last day of the billing period, (c) average asset value
of the account as determined by the client's custodian, or (d) net asset value of the
account as determined by the client's custodian on the last day of the billing period.
GIA prepares fee invoices that are sent to either the client or custodian, per prior
agreement. Fees may be paid by check or wire, depending on the preference of the client.
GIA does not directly debit client accounts for advisory fees.
Separate account relationships are generally cancellable by either party on 30 days
written notice. In the event of an account's termination, fees are assessed on a pro-rata
basis, unless the investment agreement provides otherwise.
Additional Fees and Expenses:

In addition to paying investment management fees, client accounts will also be subject to
other investment expenses such as custodial charges as well as taxes, duties, and other
governmental charges; transfer and registration fees or similar expenses; costs associated
with foreign exchange transactions, where applicable.

GIA does not receive payment for, nor benefit in any way, from the additional fees and
expenses listed above. Please refer to Item 12 of this Firm Brochure for a discussion of
GIA’s brokerage practices.

Item 7.        Types of Clients

GIA provides investment advisory services on a discretionary basis for institutional
clients, including endowments, corporate pension plans, foundations, as well as State and
Municipal government entities.
GIA has a preferred minimum account size for separate accounts across products. Please
refer to Item 5 of this Firm Brochure for information pertaining to fees.