MORI Huston Partners LLC

Item 5 Fees and Compensation

 Policies Concerning Fees Paid by Clients

 Client Payment of Fees

 The specific manner in which fees are charged by Mori Huston is established in a client’s
 written Investment Advisory Agreement with Mori Huston. Mori Huston will send to the
 client an invoice that provides the amount of the fee, the value of client’s assets on which the
 fee was based, and the specific manner in which the fee was calculated. The custodian will
 also send to the client a statement, at least quarterly, indicating all the amounts disbursed from
 the account including the amount of advisory fees paid directly to Mori Huston.

 The fee structure is primarily based upon the dollar value of assets under management.

 * The fees are billed on a quarterly basis in arrears.

 * The fees do not include third party costs.

 * All fees are negotiable. Therefore, clients with similar assets under management and
 investment objectives may pay significantly higher or lower fees than other clients.

 Fees for Portfolio Management of Discretionary Accounts. This service could be limited to
 a single account at one custodian or could extend to multiple accounts at one or multiple
 custodians and be done in a consolidated format. Mori Huston maintains a limited power of
 attorney on the respective accounts and can buy and sell securities within the limits of the
 respective investment policy.

  Client Assets                                           Management Fee*
  up to $1 mio.                                           1.40%
  from $1 mio. to 2 mio.                                  1.30%
  from $2 mio. to 5 mio.                                  1.20%
  from $5 mio. to 10 mio.                                 1.10%
  from $10 mio. to 25 mio.                                0.95%
  from $25 mio.                                           at request

 Fees for Portfolio Management of Non-Discretionary Accounts. Investment advice is given
 on a non-discretionary basis. According to the particular client circumstances we provide asset
 allocation and single security advice. Mori Huston maintains a limited power of attorney on
 the respective accounts but buys and sells securities only following an explicit client order.

Mori Huston Partners, LLC                                                                    Page 9

  Client Assets                                          Advisory Fee*
  up to $1 mio.                                          1.40%
  from $1 mio. to 2 mio.                                 1.30%
  from $2 mio. to 5 mio.                                 1.20%
  from $5 mio. to 10 mio.                                1.10%
  from $10 mio. to 25 mio.                               0.95%
  from $25 mio.                                          at request

 Fees for Investment Advice Through Consultations. Investment advice is given on a non-
 discretionary basis. According to the particular client circumstances we provide asset
 allocation and single security advice on a consulting basis only.

  Client Assets                                          Advisory Fee*
  up to $1 mio.                                          1%
  from $1 mio. to 2 mio.                                 0.90%
  from $2 mio. to 5 mio.                                 0.80%
  from $5 mio. to 10 mio.                                0.75%
  from $10 mio. to 25 mio.                               0.60%
  from $25 mio.                                          at request

 All fees charged by Mori Huston are calculated based on the f the end of quarter balance of
 client assets under advisory by Mori Huston and, if applicable, the monthly balances of client
 assets managed by third-party asset managers referred by Mori Huston.

 Investment Funds

 British Virgin Islands Fund

 We will receive an annual management fee equal to 1% of the net asset value of each
 participating share. The management fee will be calculated and accrued monthly and is
 payable in arrears. The calculation is based on the opening net asset value at the beginning of
 the month, adjusted for subscriptions and redemptions for that month.

 In our sole discretion, we may waive, reduce, or rebate the management fee to be charged with
 respect to any shareholder including, but not limited to, shareholders that are employees,
 principals or affiliates of Mori Huston or relatives of such persons and for certain large or
 strategic investors, without notice to or the consent of the other shareholders.

 The amount of the management fee and the performance fee shall be deducted from the net
 asset value attributable to the shares.

 Please reference each Fund’s applicable offering documents for more detail on the
 management, performance, and other fees incurred when investing in this Fund.

Mori Huston Partners, LLC                                                                 Page 10

 Additional Client Fees Charged

 All fees paid to Mori Huston for asset management and investment advisory referral services
 are separate and distinct from the fees and expenses charged by mutual funds and exchange
 traded funds (or ETFs) to their shareholders. These fees and expenses are described in each
 fund’s prospectus. These fees will generally include a management fee, other fund expenses,
 and a possible distribution fee. If the fund also imposes sales charges, a client may pay an
 initial or deferred sales charge (often referred to as a “load’ fee). A client could invest in a
 mutual fund directly without the services of Mori Huston. In that case, the client would not
 receive the services provided by Mori Huston which are designed, among other things, to
 assist the client in determining which mutual fund or funds are most appropriate to each
 client’s financial condition and objectives. Accordingly, the client should review both the fees
 charged by the funds, the fees charged by Mori Huston and any advisor it may have been
...

Item 7 Types of Clients

 Mori Huston works primarily with high-net-worth individuals either directly or through their
 trusts via their trustees. Clients include U.S. citizens and non-resident non-citizens of the
 United States of America. In addition, Mori Huston works with pension and profit-sharing
 plans.

 Mori Huston has no stated minimum account size although typically Mori Huston pursues
 clients with investible assets of at least $500,000.00. Clients are advised that performance may
 suffer due to difficulties with diversifying smaller accounts and due to risk controls potentially
 being compromised. The performance of smaller accounts may vary from the performance of
 larger accounts due to fluctuations in the market that may affect smaller accounts more and the
 effects of compounding potentially being greater in larger accounts.

 Investment Funds

 British Virgin Islands Fund

 The British Virgin Islands Fund is relying upon an exclusion from the provisions of the
 Investment Company Act pursuant to the exemption contained in Section 3(c)(1) thereunder.
 The minimum initial subscription to the British Virgin Islands Fund is $250,000. The
 minimum incremental subscription to the British Virgin Islands Fund is $50,000. The
 Directors may in their discretion raise or lower the minimum initial subscription amount.

Mori Huston Partners, LLC                                                                  Page 14