Fees and Compensation — Form ADV Part 2A (6/28/2021)
[Brochure]
Item 5 - Fees and Compensation
LHCM’s fees and expenses are negotiated with each Client and described in detail in each Client’s
IAA. LHCM does not charge a management fee, but is entitled to receive a performance fee (the
“Performance Fee”) calculated based on a percentage of aggregate net investment profits.
Generally, Performance Fees are paid by each Client on an annual basis.
In addition to paying a Performance Fee, Clients are responsible for certain expenses (“Expenses”)
related to the operation and activities of their account, including, but not be limited to, research, all
direct trading expenses, such as transaction costs, ticket charges, fees and expenses incurred in the
borrowing and lending of securities, bank service fees, custodial and trustee fees, electronic market
connection fees, quotation services, data fees, corporate action services fees, transfer taxes, and
withholding taxes. Expenses are paid by each Client monthly in advance and will be prorated for
partial periods. Expenses are described in detail in each Client’s IAA.
Account Minimums and Types of Clients — Form ADV Part 2A (6/28/2021)
[Brochure]
Item 7 - Types of Clients
LHCM’s Client accounts are organized as pooled investment vehicles intended for institutional and
sophisticated investors. LHCM provides its investment advisory services to its Clients on a sub-
advisory basis.