Mirae Asset Global Investments Hong Kong Limited

ITEM 5 – Fees and Compensation

 5.A – Description

 The Adviser is compensated for its discretionary investment management services based
 on a percentage of assets under management. The Adviser is compensated for its non-
 discretionary investment advisory services based either on a percentage of asset under
 management or a fixed advisory fee. All fees are subject to negotiation.

      a) Management fees for discretionary investment management services
         For the Funds which the Adviser acts as the principal investment manager/ manager,
         the Adviser receives annual discretionary investment management fee ranged from
         0%1 to 3.0% of the Funds’ net assets.

      b) Sub-Management fees for discretionary investment management services
         As the sub-manager of Korea domiciled funds, the Adviser generally receives 60%
         of the management fees received by the manager, which is calculated based on the
         quarterly average of the daily net asset value of the Korea domiciled funds.

           As the sub-manager of the Funds registered under the ‘40 Act, the Adviser is
           entitled to receive sub-management fees between 30% to 50% of the management
           fee received by the manager.

      c) Advisory fees for non-discretionary investment services
         The Adviser generally receives advisory fees that range from 0.10% to 0.45% per
         annum of the assets under management, or a fixed fee as agreed with the client(s).

 5.B – Fee Billing

 For discretionary investment management services, the management fees and sub-
 management fees are paid either monthly or quarterly in arrears and such fees are deducted
 from the Funds’ assets.

   We do not receive management fees for the management services for certain share class(es) of the open-ended mutual fund domiciled
 in Luxemburg.

For non-discretionary investment advisory services, the advisory fees are generally paid
quarterly in arrears and are billed to clients for the fee incurred.

5.C – Other Fees

Not Applicable

5.D – Advance Payments, Past Due Accounts and Termination of Agreement; Refund
Termination of Management and Sub-Management Agreements

In each client’s agreement, the Adviser or the client may terminate the agreement without
payment of penalty or compensatory damages by providing a prior notice generally ranging
from 30 days to 90 days in writing to the other party. Terminating the respective agreement
will not affect any outstanding orders or transactions or any legal rights or obligations that
have already arisen. Transactions in progress at the date of termination will be completed
by the Adviser as soon as practicable.

Withdrawal of Funds
Any clients may withdraw their money and stop using the Adviser’s services at any time
without penalty subject terms and condition of the respective clients’ agreements.

5.E – Compensation for Sale of Securities or Other Investment Products

The Adviser does not receive any other compensation for the sale of securities or other
investment products.

ITEM 7 – Types of Clients

7.A – Description

The Adviser provides advisory services to:
   a)     Funds registered under the ‘40 Act;
   b)     Funds domiciled in Korea and Luxembourg;
   c)     ETFs listed on the Stock Exchange of Hong Kong Limited;
   d)     Private investment vehicles offered only to non-U.S. clients
   e)     Companies incorporated in different countries.

7.B – Account Minimums

In connection with the discretionary and non-discretionary investment management
services, the Adviser does not impose a minimum dollar value of assets or other conditions
for starting or maintaining an account. Nevertheless, the Adviser may impose a minimum
dollar value of assets requirement for starting or maintaining an account, subject to
negotiation with clients.