SCG Asset Management LLC

Item 5: Fees and Compensation
General:
SCG typically receives compensation in the form of fees based on a percentage of assets under
management. In certain situations, SCG may agree to a different fee structure. Fees may vary from
the standard fee schedules depending on the nature of the services rendered, special requirements
of the account, or based on negotiations.

Regulated Investment Company:
Investment advisory fees payable to SCG are stated in ASIF’s prospectus. ASIF management fee is
calculated and payable monthly at the annual rate of 1.5% of the average daily value of ASIF’s daily
net assets.

Form ADV Part 2A Brochure | SCG Asset Management, LLC| March 2026

ASIF pays expenses incurred in the operation of the fund including, among other things, (i) expenses
for legal and independent accountants’ services, (ii) costs of printing proxies, share certificates, if
any, and reports to shareholders, (iii) charges of the custodian and transfer agent in connection with
ASIF’s dividend reinvestment policy, (iv) fees and expenses of independent Trustees, (v) printing
costs, (vi) membership fees in trade association, (vii) fidelity bond coverage for the fund’s officers
and Trustees, (viii) errors and omissions insurance for ASIF’s officers and Trustees, (ix) brokerage
costs, (x) taxes, (xi) costs associated with ASIF’s quarterly repurchase offers, (xii) servicing fees and
(xiii) other extraordinary or non-recurring expenses and other expenses properly payable by the fund.
The expenses incident to the offering and issuance of shares to be issued by ASIF will be recorded
as a reduction of capital of ASIF attributable to the shares.

Class A and Class C shares are subject to a monthly shareholder servicing fee at an annual rate of
0.25% of the average daily net assets of ASIF attributable to the respective share class.

SCG and ASIF have entered into an expense limitation and reimbursement agreement under which
SCG has agreed contractually to waive its fees and to pay or absorb the ordinary operating expenses
of the fund (excluding front-end or contingent deferred loads, taxes, leverage interest, borrowing
interest, brokerage commissions, expenses incurred in connection with any merger or reorganization,
dividend expense on securities sold short, acquired (underlying) fund fees and expenses or
extraordinary expenses such as litigation), to the extent that they exceed 3.00%, 3.65% and 2.75%
per annum of the fund’s average daily net assets attributable to Class A, Class C shares and Class I
shares, respectively.

For additional information regarding brokerage practices, please refer to Item 11 of this Brochure.

Neither SCG nor any of its supervised persons receives any compensation for the sale of securities
or other investment products.

Item 6: Types of Clients
SCG’s investment advisory clients include ASIF and separately managed accounts. Investors in
ASIF and separately managed account clients may include, but are not limited to, high-net-worth
individuals, pension plans (corporate, state, and foreign), sovereign wealth funds, endowments,
foundations, banks, pooled investment vehicles (e.g., funds of funds), trusts, estates, or charitable
organizations, and corporate or business entities.

This Brochure does not constitute an offer to sell or solicitation of an offer to buy any securities.

The minimum initial investment for ASIF by a shareholder for Class A shares is $5,000, Class C
shares is $2,500 and Class I is $100,000. Subsequent investments may be made with at least $100
under ASIF’s automatic investment program. Subsequent investment not made pursuant to the
automatic investment program must be made with at least $1,000. ASIF is offering to sell its shares,
on a continual basis, through its distributor.

Item 7: Methods of Analysis, Investment Strategies and Risk of Loss
The descriptions set forth in this Brochure of specific advisory services that we offer to ASIF, and

Form ADV Part 2A Brochure | SCG Asset Management, LLC| March 2026

separately managed accounts (each a “Portfolio” and collectively, the “Portfolios”), and investment
strategies pursued and investments made by us on behalf of each Portfolio, should not be understood
to limit in any way our investment activities. We may offer any advisory services, engage in any
investment strategy, and make any investment, including any not described in this Brochure, that
we consider appropriate, subject to each Portfolio’s investment objectives and guidelines as set forth
in their respective offering and governance documents. The investment strategies we pursue are
speculative and entail substantial risks. Clients should be prepared to bear a substantial loss of
capital. There can be no assurance that the investment objectives of any Portfolio will be achieved.

SCG and ASIF seek to provide investors with attractive risk adjusted returns by taking advantage
of volatility in the equity markets. Our aim is to construct a diversified portfolio of structured
products in which the components do not exhibit significant correlation and do not draw down losses
simultaneously. The strategy centers around the use of structured products as a prudent way to earn
significant coupon yields while minimizing downside risk through structure and diversification.
ASIF will seek to invest in a basket of short-term structured products, diversified across industry,
company, observation dates, maturity/expiration dates, barrier levels, investment-grade issuers, etc.

All investments, whether through ASIF or a separately managed account, entail substantial risks
and investors should be prepared to bear the loss of the amount invested. The following risks are
not intended to be a complete list or explanation of the risks involved in an investment in the
Portfolios or strategies advised by SCG. Each prospective investor should carefully review the
relevant offering and governing documents before deciding to invest with SCG.

Risk of Loss
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