Fees and Compensation — Form ADV Part 2A (4/5/2022)
[Brochure]
ITEM 5: Fees and Compensation
The Adviser
Management is generally
fees required
are calculated to pay
based on its own expenses
a percentage incurred
of the in the
value of connection with its
assets under
obligations under
management the sub-advisory
(referred agreement. Fees”). In most cases, the fee will be
to herein as “Management
1.5% of net assets. In consideration for its services to The Stone Beach Fund (referred to
herein
ITEM 6: as Performance
the “Fund” orBased
“Client”),
Fees the Adviser shall receive a Management Fee, payable
quarterly in advance equal to approximately 1.5% annually of each investor’s share the
Fund’s net asset value.
The Adviser does not charge performance based fees.
In addition, the Adviser may collect incentive allocations and/or fees based on the
Account Minimums and Types of Clients — Form ADV Part 2A (4/5/2022)
[Brochure]
ITEM 7: Types of Clients
performance of investments and number of investors in the Fund.
ForThe
a more complete
Adviser description
sub-advises of the terms
a registered and conditions
investment company, of the Adviser’s
which management
is its single client.
of client accounts, please refer to the Investment Advisory Agreement which is provided
(together with Form ADV Part 2A) to all prospective clients.
The Adviser’s Client is a private investment fund whose investors are individuals, institutions,
and other funds. The minimum investment in the Fund is $500,000. The Adviser, however,
has discretion to accept lesser amounts.
Additionally, the Adviser subadvises a registered investment company.
Filed 2014-10-27 (D/A) · Exemption 506(b), 3(c), 3(c)(7) · Minimum $500,000 · Remaining Indefinite · Duration More than one year · Net Assets Decline to Disclose
Filed 2013-12-17 (D/A) · Exemption 506(b), 3(c), 3(c)(1) · Remaining Indefinite · Duration More than one year · Commission $79,000 · Net Assets Decline to Disclose
AUM Breakdown
Accounts
AUM ($M)
By Client Type
(a) Individuals (other than high net worth individuals)
0
0.0
(b) Individuals (high net worth individuals)
0
0.0
(c) Banking or thrift institutions
0
0.0
(d) Investment companies
1
20.8
(e) Business development companies
0
0.0
(f) Pooled investment vehicles
0
0.0
(g) Pension and profit sharing plans
0
0.0
(h) Charitable organizations
0
0.0
(i) State or municipal government entities
0
0.0
(j) Other investment advisers
0
0.0
(k) Insurance companies
0
0.0
(l) Sovereign wealth funds and foreign official institutions
0
0.0
(m) Corporations or other businesses not listed above