ITEM 5 – FEES AND COMPENSATION
All fees are subject to negotiation.
OSG’s fees are generally described below and detailed in each Client’s investment advisory agreement or
applicable account document. Fees for investment advisory services may be negotiated with each Client on
an individual basis. OSG may group multiple accounts of a Client (or group of related Clients) together for
fee billing purposes. Fees may change over time and, as discussed below, different fee schedules may apply
to different types of Clients, strategies and advisory arrangements. Fees may be negotiated on a basis
different from OSG’s stated fee schedules, if circumstances warrant, and OSG reserves the right to waive
or reduce the fees charged to a particular Client in its sole and absolute discretion. In the event that
additional assets are placed under management during the calendar quarter, OSG’s compensation with
regard to base investment advisory fees will be calculated and payable on a pro rata basis. The amount,
timing, and type of fees charged, and the manner in which fees are calculated, are determined through
negotiations with Clients. Accordingly, there may be differences in fees paid by certain Clients based on a
variety of factors. Negotiations between OSG and Clients are influenced by such factors as the nature and
extent of the investment advisory services to be rendered and the size of the managed account. Depending
on the particular arrangement with a Client, fees payable to a sub-advisor may be paid directly by the Client
or by OSG from its investment advisory fee.
OSG’s fees are exclusive of brokerage commissions, transaction fees, and other related costs and expenses
that will be incurred by the Client, which are more fully described in the Client’s investment advisory
agreement or applicable account document. Clients may incur certain charges imposed by custodians and
brokers such as custodial fees, odd-lot differentials, wire transfer and other fees and taxes on brokerage
accounts and securities transactions. ETFs, which on occasion may be may be used as proxies for exposure
to certain markets, have investment advisory expenses, and as such, Clients may incur another layer of
investment advisory fees; one indirectly in the form of an investment advisory fee to the investment adviser
of the ETF and one to OSG. Fees are generally payable in arrears on a quarterly basis, and are calculated
as of the last business day of the preceding calendar quarter based on the value of the portfolio, which is
generally provided by the custodian. Investment advisory fees are prorated for any billing period that is less
than a complete calendar quarter. Asset-based fees may be adjusted proportionately based on the value of
cash or securities added or withdrawn from the account between billing periods.
Clients can elect to be invoiced for the amount of the fees or authorize OSG to deduct the amount of the
fees from their accounts.
Fees will generally be lower for larger for accounts but are not expected to exceed the following:
▪ International Frontier – 20 basis points.
▪ Emerging Market Consumer Staples – 10 basis points.
▪ Optimal Emerging Market Small Companies – 15 basis points.