Man Solutions Limited

FEES AND COMPENSATION

                The Firm’s fee schedule is omitted because this Brochure is being delivered
only to qualified purchasers, as defined in section 2(a)(51)(A) of the Investment Company Act.

                The Firm does not maintain a basic fee schedule. Fees for each client are
determined and negotiated on a case-by-case basis. The following is a general overview of the
types of fees charged to the Firm’s clients managed by the Firm:

    A. Advisory Fees and Compensation.

                The Firm does not have a standardized fee schedule. The Funds may have
different share classes which may have different fee schedules. Fees may be negotiable or
waivable depending upon a variety of factors, including, among other things, type and extent
of advisory services offered, amount of assets under management, the overall relationship with
the investor, and other services offered to the Fund or investor.

                  The Firm generally receives an annual management fee or fixed fee in a range
of 0.16% up to 2% of the Funds’ assets under management, payable monthly, quarterly or semi-
annually in arrears. Fees vary by Fund and by class. With respect to certain non-discretionary
account clients, the Firm may receive a service fee which may consist of a share of the
management and performance fees paid to an affiliate. The Firm (or one of its affiliates) may
receive incentive or performance-based compensation of generally up to 10% of net profits,
realized and unrealized, generally payable or allocated annually but may also be payable or
allocable semi-annually, quarterly or monthly in arrears. The incentive or performance-based
fees may be subject to a high water mark or in some cases, a hurdle rate which is typically
based upon a specified interest rate. Actual fees may be more or less than the ranges stated. As
applicable, the Firm’s performance-based compensation complies with SEC Rule 205-3 under
the Investment Advisers Act of 1940. The Firm’s fees and compensation may be shared with
affiliates of the Firm.

             Advisers to whom the Firm or its affiliates allocate client assets charge
management fees and/or performance-based compensation which may be in addition to
compensation charged by or allocated to the Firm.

              The Firm may also fully or partially waive, reduce or rebate management fees
and/or performance-based fees. The Firm has established Funds and may establish additional
Funds in which it does not charge performance-based fees.

                 The Firm may also allocate a client’s assets to an Affiliated Fund which an
affiliate of the Firm may receive management and/or performance-based compensation.

              In addition, as part of its advisory services, the Firm may act as the risk manager
of an Underlying Fund in which a client may allocate to and receive a quarterly risk
management fee of up to 0.50% annually of the gross asset value of such Underlying Funds.
Such risk management fees may under certain circumstances be rebated or waived.

                The Firm may also invest client assets in investments that may charge additional
fees. Clients therefore indirectly bear (i) advisory fees or an allocation (including management,
performance, administrative, brokerage, custodial, overhead, operational or other fees or a
performance allocation) to the Firm or its affiliates and (ii) fees charged by the underlying
investment. Investments that charge additional fees include, but are not limited to, money
market funds, short-term investment vehicles, exchange traded funds, pooled investment
vehicles, special purpose investment vehicles and alternative investment vehicles.

                Generally, the investment management agreements can be terminated by either
party in accordance with the terms and notice period described in each investment management
agreement. the Firm’s investment management agreements are generally terminable with prior
written notice, without penalty, or upon a breach, and/or also may be automatically renewed.

                In respect to DMAP clients, there is no standard fee schedule and fees are agreed
for each client on a client-by-client basis, taking into account among other factors: the services
to be provided; the assets under management; the relationship with the client and the provision
of other services by the Firm or its affiliates.

               Schedules of fees and performance based fees are set forth in the governing
document for each of the Funds, which should be consulted by any prospective investor to
determine the applicable level of fees or allocations, when fees are paid, and any conditions on
redemptions from the Funds.

                 As permitted, the Firm or its affiliates may from time to time in its sole
discretion and out of its own resources decide to rebate part or all of the management and/or
performance fees, and/or distribution fees to some or all investors or to intermediaries. the
Firm or its affiliates may pay a portion of its fees to distributors or intermediaries of the Funds.

      B. Payment of Fees.

                Fees and compensation paid to the Firm or its affiliates are generally paid by
the client from its assets. With regards to the Funds, the fees are calculated by the Fund’s
administrator and are paid directly from the Fund’s assets. Management fees or fixed fees are
generally paid on either a monthly or quarterly basis in arrears and the performance
compensation (if applicable) is deducted on a monthly, quarterly, semi-annual or annual basis,
or at the time of redemption or withdrawal, as applicable, or more frequently as agreed with
the client. With regards to Managed Accounts, fees are negotiated and agreed upon with the
client directly and include a management fee or a combination of management fee and
performance compensation. Management fees and performance-based compensation are pro-
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TYPES OF CLIENTS

               The Firm provides advisory or sub-advisory services, as well as DMAP
platform services primarily to U.S. and non U.S. Funds, including private funds and
institutional Managed Accounts on a discretionary or non-discretionary basis. The securities of
the private funds are not registered under the Securities Act of 1933. In addition, the private
funds are not registered under the Investment Company Act of 1940 (“1940 Act”) and may or
may not be continuously offered.

                Redemption rights with respect to each Fund are set forth in the offering
memorandum for each Fund. Termination rights with respect to each Managed Account are set
forth in the investment management agreement for each Managed Account. Investments in the
Funds may be subject to a minimum investment requirement which under certain
circumstances may be waived as set forth in the Fund’s offering memorandum.