Sector Omega as

Item 5 Fees and Compensation

 How We are Compensated for our Advisory Services

 Currently, Sector Omega charges Funds a fee based in part on the Fund's assets under management and in part on
 the performance of the Fund. Fees charged by the Funds to Investors may vary between different share classes. It
 is possible that different Funds and share classes will pay different management or performance fees to Sector
 Omega.

 Our Fee Schedule
 The current typical fee schedule for Sector Omega is as follows:
            Management Fee - 2 % of net asset value
            Performance Fee - 20 % of the performance amount
 Clients should note that this fee schedule may vary. Funds may utilize multiple class or similar structures pursuant
 to which the management fees for certain classes are discounted (“Discounted Classes”). Discounted Classes may
 be available to certain groups of Investors (such as directors, officers and employees of Sector Omega).

 Fees Are Not Negotiable

 Fees, including performance fees, are not negotiable. However, future Funds may pay a fee higher or lower than
 that described above based on the unique circumstances of such future Funds. As stated above, fees charged by
 the Funds to Investors may vary between different share classes. Therefore, different Funds and share classes may
 pay different management or performance fees to Sector Omega.

 How We Collect Fees

 Fees are generally paid in arrears. Management fee are paid monthly and performance fee paid yearly, and as per
 redemption. Fees are deducted from Fund assets. Fees cannot be paid in advance.

 Additional Fees

 Funds will incur brokerage, other transaction costs, trading enhancing and research costs. Funds may be required
 to pay custody fees, taxes, duties and other government charges, transfer fees, registration fees and other expenses
 associated with the purchase, holding or sale of assets, costs and charges associated with making deposits in
 connection with foreign exchange transactions, withholding taxes payable and required to be withheld by issuers,
 their agents and others, as well as audit, administrative and other expenses associated with regulatory or tax
 compliance or investment operations. More information about brokerage fees and commissions can be found in
 Item 12 of this Brochure.

 No additional sales-based compensation or trails are paid to Sector Omega or any Sector Omega supervised person
 for the sale of securities or other investment products, including asset-based sales charges or service fees.

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Types of Clients

 As noted above, Sector Omega’s current Clients consist of investment funds organized outside the U.S. This
 Brochure may be provided to current or prospective Investors in a Fund, together with the Fund’s Governing
 Documents, including any prospectus, supplement, private placement memorandum, organizational documents and
 other related documents, prior to or in connection with such person’s consideration or execution of an investment
 in a Fund. Investors and other recipients should be aware that while the Brochure may include information about
 the Funds, as necessary or appropriate, it should not be considered to represent a complete discussion of the features,
 risks or conflicts associated with any Fund. More complete information about each Fund is included in the Fund’s
 supplement, which may only be provided to current and eligible prospective Investors. The Funds or their shares
 are not registered with the SEC under the 1940 Act and the U.S. Securities Act of 1933.

 Sector Omega has no place of business in the United States and no direct U.S. Clients. Consequently, in reliance
 upon guidance from the SEC and its staff, Sector Omega complies with certain Advisers Act rules (but not all) with
 regard to the Funds.

 In no event should this Brochure be considered to be an offer of interests in a Fund or relied upon in
 determining to invest. It is also not an offer of, or agreement to provide, advisory services directly to any
 recipient. Rather, this Brochure is designed solely to provide information about Sector Omega for the purpose of
 compliance with certain obligations under the Advisers Act and, as such, responds to relevant regulatory
 requirements under the Advisers Act. To the extent that there is any conflict between discussions herein and similar
 or related discussions in any supplement, the supplement will govern.

 Minimum Initial Investments

 Sector Omega does not impose a minimum value of assets on the Funds it manages. However, Funds generally
 require a minimum investment of EUR 250,000 or the USD or NOK equivalent, but may accept amounts down to
 USD 10,000 or the EUR or NOK equivalent. This is set forth in the supplements of the applicable Funds. Future
 Funds may have different minimum investment requirements.

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