Fees and Compensation
GO’s fees include management fee and performance fees and are outlined below:
JEF UK LP
Standard management fee:
1. Qualifying Partner (invest ¥7bn and above) = 100 bps per annum)
2. Ordinary Limited Partner (invest below ¥7bn) = 125 bps per annum
3. Enhanced Liquidity Partner (any amount invested) = 150 bps per annum
The TMAM GO Japan Engagement Master (JEF) LP
The TMAM - GO Japan Engagement Fund (JEF) Ltd
Standard management fee:
Class A • 1-YEAR Hard Lockup 1.50%
• Quarterly liquidity
thereafter
• Minimum investment
$5m
Class B • 1-Year Soft Lockup no 1.75%
Hurdle
• Quarterly liquidity
thereafter
• Minimum investment
$5m
• 5% redemption fees (first
year)
Class C • 3-YEAR Hard Lockup 1.25%
• Minimum investment
$5m
Management fees are payable quarterly in advance at the beginning of each calendar
quarter. We charge 25% of the annual fee level each quarter based on the market
value of the client’s portfolio at the beginning of that quarter.
TMAM-GO Japan Engagement Fund LP
The standard performance fee for the JEF UK Fund is as follows:
20% above benchmark performance after all other fees. Subject to high-water mark
Payable: 70% on 31 December relevant year; 0% first anniversary; 30% second
anniversary (as long as investment remains at, or above, the high water mark). The
benchmark for the TMAM-GO Japan Engagement Fund is the TOPIX Mid 400.
Performance fees may be subject to negotiation and fees may vary among funds,
including between managed account vehicles and pooled vehicles, or among investors
within a pooled fund. We may enter into side letter agreements or other arrangements
with specific investors whereby such investors receive direct or indirect reductions of
performance fees.
The TMAM GO Japan Engagement Master (JEF) LP
The TMAM - GO Japan Engagement Fund (JEF) Ltd
The standard performance fee for the above Fund is as follows:
Class A 20%**
**Hurdle: TOPIX Mid 400 Index
Class B 20%
Class C 20%**
**Hurdle: TOPIX Mid 400 Index
Performance fees may be subject to negotiation and fees may vary among funds,
including between managed account vehicles and pooled vehicles, or among investors
within a pooled fund. We may enter into side letter agreements or other arrangements
with specific investors whereby such investors receive direct or indirect reductions of
performance fees. In our sole discretion, GO may waive, reduce or calculate differently
any performance fees with respect to certain investors.
Performance based fees are payable annually in arrears based upon the account
market value on December 31 of the preceding calendar year. The formulas used for
the calculation are set out in the applicable Fund documents.
Management fees may be subject to negotiation and fees may vary among funds
among investors within a pooled fund. We may enter into side letter agreements or
other arrangements with specific investors whereby such investors receive direct or
indirect reductions of management fees. In our sole discretion, GO may waive, reduce
or calculate differently any management fees with respect to certain investors.
Payment of Fees
Fees and compensation paid to GO and its affiliates by the Funds are generally
deducted from the assets of such clients. As discussed further herein, management
fees are generally deducted on a quarterly basis and performance fees are generally
deducted on an annual basis.
Additional Fees and Expenses
Expenses applicable to each client are set forth in the applicable client's governing
documents. In general, clients bear their own expenses (and, in the case of the
Onshore Fund and the Offshore Fund, such Fund's pro rata share of the Master Fund’s
expenses and any trading vehicle’s expenses), including, without limitation, the
Management Fee; performance fees; investment expenses (e.g., expenses that, in our
or TMAM's discretion, are related to the investment of client assets, whether or not
such investments are consummated, such as third-party investment sourcing fees,
brokerage commissions, research costs and expenses, expenses relating to short
sales, clearing and settlement charges, custodial and depositary fees, hedging
expenses, bank service fees and interest expenses); expenses incurred in engaging
with the management and boards of companies in which clients invest; professional
fees (including expenses of consultants, appraisers, investment bankers, attorneys,
accountants and other experts) relating to investments; administrative expenses
(including fees and expenses of the Funds' administrator and other similar service
providers); legal expenses; external accounting and valuation expenses (including the
cost of accounting software packages); audit and tax preparation expenses; costs
relating to directors’ and officers’ liability insurance; fees of Fund directors; costs of
printing and mailing reports and notices; taxes; corporate licensing; regulatory
expenses (including filing fees such as Annex IV and other similar regulatory filings);
listing fees; organisational expenses; expenses incurred in connection with the offering
and sale of the Shares and other similar expenses related to the Fund; indemnification
expenses; extraordinary expenses, including, without limitation, litigation expenses;
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