Hermes GPE USA Inc

Item 5     Fees and compensation
The fees Hermes GPE USA expects to charge with respect to the sub-advisory services it provides to Hermes
GPE are agreed between the parties and will be invoiced on a quarterly basis.
Hermes GPE USA will be compensated directly by Hermes GPE out of Hermes GPE’s own revenues. As a result,
Clients will pay a single advisory fee to Hermes GPE and will not be responsible for paying any additional fees
directly to Hermes GPE USA.
The Hermes GPE Group’s management fees are exclusive of brokerage commissions, transaction fees, and other
related costs and expenses which shall be incurred by the Client. Clients can incur certain charges imposed by
custodians, brokers, banks and other third parties such as fees charged by underlying investment managers,
custodial fees, transfer taxes, wire transfer and electronic fund fees, and other fees and taxes on brokerage
accounts and securities transactions. Such fees are exclusive of and in addition to Hermes GPE’s fee and the
Hermes GPE Group does not share in any portion of such charges, fees and commissions.
Neither Hermes GPE USA nor its supervised persons will receive any compensation as a broker or agent with
respect to the purchase or sale of securities or other investment products by any Client.
Please refer to “Conflicts of Interest Relating to Performance-Based Fees” in Item 6 of this brochure for further
information regarding actual or potential conflicts of interest that could arise in connection with performance-
based fees.