Swiss-Asia Asset Management HK Limited

Item 5 – Fees and Compensation

A.   Describe how you are compensated for your advisory services. Provide your fee schedule.
     Disclose whether the fees are negotiable.

     SAAM charges fees comprised of two components: one based on a percentage of assets under
     management (the “Management Fee”) and the other based on performance or capital
     appreciation (the “Performance Fee”).

     Private wealth management accounts:

     SAAM does not have a basic fee schedule and SAAM and its clients negotiate all fees
     concurrent with or prior to entering into an IMA and each client’s IMA identifies all applicable
     fees. Generally, SAAM is paid in arrears. SAAM sends an invoice identifying the fees to each
     client and, if applicable, to each client’s custodian in accordance with the client’s IMA. Specific
     fee arrangements, including the amount, timing, and basis of calculation is determined
     through negotiations with the client and documented in the IMA.

     Fund :

     Fees are fixed as stated in the private placement memorandum (“PPM”). Management Fees
     generally accrue on a monthly or quarterly basis, depending on the funds’ PPMs .

     Sub-management fee pertaining to Separately Managed Account:

     The specific manner in which fees are charged is described SAAM's sub-advisory agreement
     with the respective investment manager.

B.   Describe whether you deduct fees from clients’ assets or bill clients for fees incurred. If
     clients may select either method, disclose this fact. Explain how often you bill clients or
     deduct your fees.

     SAAM deducts fees from clients’ assets after issuance of an invoice and with approval from
     the client/Fund. Fees may be paid in advance or arrears, monthly or quarterly depending on
     the client/Fund. This is reflected in the IMA or PPM.

     Upon termination of SAAM’s investment advisory services with respect to a client account,
     any earned, unpaid fees will be immediately due and payable by the applicable client. The
     client may also be subject to transaction-related costs associated with the unwinding of any
     transactions initiated prior to the said termination.

C.   Describe any other types of fees or expenses clients may pay in connection with your
     advisory services, such as custodian fees or mutual fund expenses. Disclose that clients will
     incur brokerage and other transaction costs, and direct clients to the section(s) of your
     brochure that discuss brokerage.

     Fund

     Clients in the Funds will incur other fees and expenses associated with their investments in
     such Funds. Fund expenses are described in the respective Fund’s PPM. These expenses, in
     addition to brokerage and other transaction-related costs, will generally include the fees and

     expenses of other service providers to the Fund, such as prime brokers, custodians, transfer
     agents, administrators, valuation agents, auditors and counsel.

     Private wealth management account

     Any other fees outside the ambits of Management and/or Performance fees are levied by the
     custodians and clients will execute a separate agreement with their respective custodians.

D.   If your clients either may or must pay your fees in advance, disclose this fact. Explain how a
     client may obtain a refund of a pre-paid fee if the advisory contract is terminated before the
     end of the billing period. Explain how you will determine the amount of the refund.

     Not applicable.

E.   If you or any of your supervised persons accepts compensation for the sale of securities or
     other investment products, including asset-based sales charges or service fees from the sale
     of mutual funds, disclose this fact and respond to Items 5.E.1, 5.E.2, 5.E.3 and 5.E.4.

     Not applicable.

Item 7 – Types of Clients

Describe the types of clients to whom you generally provide investment advice, such as individuals,
trusts, investment companies, or pension plans. If you have any requirements for opening or
maintaining an account, such as a minimum account size, disclose the requirements.

The types of clients to whom SAAM generally provides investment advice are private pooled
investment funds, individuals, trusts, privately held investment companies and separately managed
accounts. Clients in the Funds may include, but are not limited to, individuals, private pension plans,
charitable foundations, endowments, trusts, funds of funds and other institutional clients.

SAAM shall only accept clients who meet the criteria of a professional client as defined in the Securities
and Futures Ordinance read with Securities and Futures (Professional Client) Rules in Hong Kong. In
this case, “professional client” means:

   (a) an individual, either alone or with his/her spouse or children and/or jointly with a corporation
       wholly owned by such individuals, having a portfolio of investments of at least HK$8 million
       or its equivalent in any foreign currency;

   (b)   a trust corporation entrusted under the trust(s) of which it acts as a trustee with total assets
         of not less than HK$40 million or its equivalent in any foreign currency;

   (c)    a corporation or a partnership having a portfolio of not less than HK$8 million or its equivalent
         in any foreign currency; or

   (d) a corporation or a partnership having total assets of not less than HK$40 million or its
       equivalent in any foreign currency.