Item 5: Fees and Compensation
Myriad charges fees on the Myriad Global Macro Fund in the form of an annual management fee
based on assets under management and Incentive Fees based on investment performance. The below
is the fee schedule:
Share Class Management Fee Incentive Fee Soft Lockup Period
Share Class A .50 % 30% 3 Months
Share Class B .50 % 28 % 12 Months
Investors are charged both the Management Fee and the Incentive Fee on their investment except for
the Share Class G* which charges a 1% management OR 30% performance fee. Management fees
are charged to investors based on the AUM of the investor holdings at each month end on month
end. Incentive Fees are charged based on the net performance of fund at the investor level and
charged once a year. Additional Fees may be charged for early redemptions outside of the
redemption windows. Notwithstanding the foregoing, expenses not related to trading activities are
capped to an amount equal to 50 basis points (or .50% annually) of the MGM master fund’s net
assets. MAMUS is responsible for the Funds pro rata share of the excess amount.
MAMUS no longer charges advisory fees for assets held in the MOF Fund. Investors who have not
redeemed all holdings may be charged an administration fee. Performance fees are no longer
assessed.
Myriad reserves the right to waive fees for friends and family of the principals of Myriad and/or
strategic investors. For more detail on fees, please consult the Fund’s private placement memorandum.
Neither MAMUS nor its supervised persons accept compensation for the sale of securities or other
investment products. MAMUS does not participate in wrap fee programs.
Investment Expenses
The Fund bears all of the on-going fees and expenses incurred in its and the Fund’s operations
including legal, accounting and other professional fees and expenses of various service providers,
advisers and/or consultants.
In addition, the Fund bears certain operating expenses including, but not limited to: stamp duties,
taxes, commissions, government and fiscal charges, foreign exchange costs, annual fees, brokerages,
bank charges, registration, licensing fees and expenses in respect of the Fund, filing and collection
fees, the fees and expenses of the Auditors, the Prime Broker, the Administrator and legal advisers
(associated with establishing and/or maintaining the Fund which includes the negotiation and
preparation of contracts or agreements to which the Fund is a party) and certain other expenses
incurred in the administration of the Fund, including expenses incurred in the acquisition, holding,
registration, exchange, divestment and disposal of Investments, such as the costs and expenses
incurred in establishing and maintaining special purpose subsidiaries of the Fund and special purpose
liquidating trusts, insurance, safe custody, storage, handling and security costs of Investments, legal
and recording fees and expenses, custodial fees and expenses, and expenses connected with the issue
and redemption of Shares.
Additionally, the Fund bears all investment related expenses (i.e., expenses which the Board or
Myriad reasonably determine to be directly related to the investment of the Fund’s assets, such as
travel expenses related to investment research, all costs and expenses related to identifying,
reviewing, assessing and acquiring an Investment brokerage commissions, clearing and settlement
charges, bank service fees, spreads, interest expenses, borrowing charges, and short dividends and
other investment expenses). The costs and expenses of entering into and utilizing credit facilities and
structured notes or other instruments, authorized agent fees, Myriad’s legal expenses incurred in
relation to the operations of the Fund, advisory board fees and expenses, if any, fees and expenses of
the registered office provider and the retention of directors’ services for the Fund and any
extraordinary expenses, such as expenses incurred in relation to dispute settlement, litigation and
indemnification of the Fund, are also borne by the Fund on this basis.
Specific expenses incurred in obtaining or licensing systems, research and other information utilized
for portfolio, risk, or order management purposes that facilitate valuations and accounting, including
the costs of statistics and pricing services, research and software (to the extent that such expenses
can reasonably be regarded as relating to the activities of the Fund) are borne by the Fund, as are all
expenses of, or incidental to, convening, attending and holding meetings of Shareholders, the
Directors, and of the Board including, without limitation, the expenses of and incidental to producing,
printing and posting or otherwise sending notices of meetings and any documents enclosed with such
notices or designed to be read in conjunction with such notices, all reasonable out-of-pocket expenses
incurred in relation to finding, investing and acquiring proposed Investments and in monitoring
Investments. This includes third party due diligence expenses, data processing costs and expenses,
quotation and news services, ongoing sales and administrative expenses.
The Fund also bears the costs of preparing, printing and distributing valuations, financial statements,
this Memorandum (as may be amended from time to time), accounts and reports together with any
other costs associated with providing information about the Fund and its Investments to Shareholders.
As disclosed in its private placement memorandum, expenses not related to trading activities are
capped to an amount equal to 50 basis points (or .50% annually) of the MGM master fund’s net
assets. Myriad will be responsible for the Funds pro rata share of the excess amount Except for those
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