Strenta Investment Management Services LLC

Item 5. Fees and Compensation

How the Adviser is Compensated for Advisory Services
SIMS will not charge the Fund any asset-based management fees or any performance fees. Instead, the
Fund bears, or reimburses SIMS for all of SIMS’ ordinary office overhead and expenses for services
provided to the Fund. These expenses will include, without limitation, rent, office supplies, software
licensing and subscriptions; charges for furniture and fixtures and other capital expenditures; compensation
(including annual or other performance bonuses as applicable), taxes and benefits expenses related to
SIMS' personnel (such amounts collectively, “Manager Overhead”). Expenses for services provided to the
Fund may include, without limitation, legal fees and investment due diligence costs related to analysis,
purchase or sale of investments whether or not the investment is consummated. All Manager Overhead
reimbursements and certain Fund’s expenses are subject to a fixed mark-up percentage applied to the
applicable amounts (“Mark-Up”). The Mark-Up percentage is calculated by Strenta Intra-Operational
Services, LLC, and reviewed by the Fund and SIMS in conjunction with their review of total Fund’s expenses
on an annual basis.
Deduction and Timing of Fees
As discussed above, the Fund pays and is responsible for Manager Overhead and expenses for services
provided to the Fund. Accordingly, the Fund is responsible for Manager Overhead plus the Mark-Up. The
Fund pays to SIMS Manager Overhead and Mark-Up amounts quarterly within 30 days after each calendar
quarter-end. The expenses of the Fund may be higher or lower than those under an assets-based
management fee and a performance fee structure.
Fund Expenses
The Fund pays directly for expenses, including expenses incurred in connection with the organization of
the Fund; legal; accounting; auditing; other professional fees and expenses; administration fees and

expenses; director fees and expenses; investment expenses such as brokerage commissions clearing and
settlement charges, custodial fees, bank service fees; expenses related to regulatory compliance or filings
related to the Fund or its assets; interest on borrowings. The Fund indirectly pays for the operating expenses
of underlying investments.
Employee Compensation for Sales of Securities
No employee of SIMS accepts or otherwise receives, directly or indirectly, any compensation for the sale
of securities or other investment products.

Item 7. Types of Clients
Currently, SIMS’ only client is the Fund, which is a single pooled “fund-of-funds” investment vehicle.