Fees and Compensation — Form ADV Part 2A (3/30/2023)
[Brochure]
Item 5 - Fees and Compensation
JMX receives compensation based on an annual investment management fee and may receive
performance-based fees. The Company’s fees are negotiable. Management fee invoices are sent to
Clients on a quarterly basis and billed in arrears. Management fees are not directly debited from
Clients’ accounts. JMX’s investment management fee charged to Clients is based on the following
schedule:
Assets under management Annual Fee
First $80 million 0.55%
Amounts in excess of $80 million up to $120 million 0.45%
Amounts in excess of $120 million 0.15%
Clients will pay JMX a 16% performance fee, applied to each account’s annual appreciation above
a 6% hurdle rate. A high-water mark will factor into each Client’s performance fee calculation.
JMX’s fee schedule includes a “wind-down-clause” under which Clients pay a minimum absolute
fee in cases where they chose to redeem substantial funds in a short time period. This fee provides
a level of planning stability for JMX that extends beyond the monthly liquidity of each Client
account. Specifically, JMX and each Client have agreed to certain asset under management
(“AUM”) thresholds. Any redemption request submitted with less than 12 months’ prior notice that
causes a Client’s AUM to drop below the threshold triggers a fixed-amount fee payable to JMX.
In addition to JMX’s management and performance fees, Clients pay brokerage or other transaction
expenses and custodial fees. Please see the Brokerage Practices section in this Brochure for a
discussion of JMX’s brokerage practices.
Account Minimums and Types of Clients — Form ADV Part 2A (3/30/2023)
[Brochure]
Item 7 - Types of Clients
JMX provides customized investment management services to one college endowment as a private
fund, and to one family office as a separately managed account. JMX requires a minimum account
size of $5 million. However, this amount is negotiable.