Item 5 – Fees and Compensation
The following details the fee structure and compensation methodology for services provided by the Advisor. Each
Client engaging the Advisor for services described herein shall be required to enter into a written agreement with
the Advisor.
A. Fees for Advisory Services
Compensation
Our compensation is determined on a Client-by-Client basis and the specific amount of such compensation and
the manner in which compensation is charged are established in each Client’s written advisory, sub-advisory or
contractual agreement with Rhino. Compensation may be fixed, asset-based and/or performance based.
Clients are typically invoiced for fees.
A description of the brokerage and other transaction costs that may be borne by Clients are described in more
detail in Item 12 (Brokerage Practices) in this brochure.
Investment Management Services
The investment management fee for our fund is paid quarterly, in advance pursuant to the terms of the agreement
and for our managed accounts, paid in arrears as explained more fully below.
Investment advisory fees are based on the market value of assets under management at the end of the calendar
quarter. Investment advisory fees may range up to 1.5% annually. Fees may be negotiable at the sole discretion of
the Advisor.
Investment advisory fees in the first quarter of service are prorated from the inception date of the accounts to the
end of the first quarter. The Advisor’s fee is exclusive of, and in addition to, brokerage fees, transaction fees, and
other related costs and expenses, which may be incurred by the Client. However, the Advisor shall not receive any
portion of these commissions, fees, and costs.
B. Fee Billing
Managed Accounts.
Investment advisory fees are calculated by the Advisor or its delegate and billed monthly or quarterly in advance or
in arrears. The manner in which compensation is charged and invoiced are established in each Client’s written
advisory, sub-advisory or contractual agreement with Rhino.
C. Other Fees and Expenses
Managed Accounts
Clients may incur certain fees or charges imposed by third parties, other than Rhino, in connection with
investments made on behalf of a Client’s account. The Client is responsible for all custodial and securities
execution fees charged by the custodian and the executing broker. The investment advisory fee charged by
Rhino is separate and distinct from custodian and execution fees.
Rhino Investment Partners, Inc.
1001 Conshohocken State Road, Ste.1-405, West Conshohocken, PA 19428Phone: (610) 234-2203
Private Fund
Fees and expenses are described in more detail within each Fund’s offering memorandum. In addition to
management and incentive fees for the fund, other fund expenses such as account administration and audit fees
are charged.
Please refer to Item 12 – Brokerage Practices for additional information.
D. Payment of Fees and Termination
Managed Accounts
Fees are paid in a manner established in each Client’s investment advisory agreement between the Adviser and
the Client. Either party may terminate the investment advisory agreement by providing advance written notice to the
other party. The Client’s investment advisory agreement with the Adviser is non-transferable without the Adviser’s
prior written consent.
Private Fund
Rhino is generally compensated for its services at the end of the quarter in advance prior to investment advisory
services rendered for asset-based or fixed fees. A pro-rata portion of the asset-based fee is paid out of any capital
contribution made by new or existing investors on any date that does not fall on the first day of a quarter, but on the
actual number of days remaining in the partial quarter. In the case of a withdrawal by an investor other than as of
the last day of a quarter, a pro-rata portion of the asset-based fee (based on the actual number of days remaining in
such partial quarter) will be repaid and distributed to the investor. The Fund may, in its sole discretion, elect to
reduce, or otherwise modify or waive the asset-based fee with respect to any investor, including affiliates. Clients
should refer to the Fund’s offering memorandum for more detailed information regarding asset-based fees.
E. Compensation for Sales of Securities
We do not receive any compensation for the sale of securities.