VantagePoint Investment Advisers LLC

Item 5 Fees and Compensation

We provide the model portfolio services described in this Brochure to our
affiliate, MissionSquare Wealth Management. MissionSquare Wealth
Management uses our model portfolios in connection with one or more wrap
fee programs sponsored by MissionSquare Wealth Management pursuant to
which MissionSquare Wealth Management charges its clients a single wrap fee
for advice provided to its clients concerning model portfolios, our model
portfolio management services, custody, transaction execution, and other
administrative services. Please see Item 4 for more information.

We receive an asset-based fee from MissionSquare Wealth Management for our
model portfolio services. The annual asset-based fee is equal to 0.02% of the
total eligible assets of MissionSquare Wealth Management’s wrap fee program
clients that utilize our model portfolios, regardless of the specific model
portfolio selected.      Our fee for model portfolio services may be waived,
discounted or otherwise revised only by agreement between us and our
affiliate, MissionSquare Wealth Management. We will not negotiate our fee
directly with any clients of MissionSquare Wealth Management.

MissionSquare Wealth Management is responsible for billing and collecting its
wrap fees from clients under its wrap fee programs, including the portion of the
wrap fee that MissionSquare Wealth Management pays to us, which occurs on a
quarterly basis in arrears. MissionSquare Wealth Management clients should
consult MissionSquare Wealth Management directly for more information on its
wrap fee programs, including the wrap fee and billing practices.

Other Fees and Expenses

Our model portfolios are comprised of third-party exchange-traded funds or
mutual funds. Investors in such funds will indirectly bear their proportionate
share of the fees and expenses that are paid at the fund level and borne by all
shareholders. These fund fees and expenses typically include, among others,
investment advisory, transfer agent, custodial fees and portfolio brokerage costs
that are paid by each fund and/or its underlying funds. These fund fees and

expenses are described in each fund’s prospectus and offering documents.
Investors should review the funds’ disclosure documents carefully before
investing. We do not receive 12b-1 fees or any other form of compensation from
the funds included in our model portfolios.

MissionSquare Wealth Management’s wrap fee program clients should review
both the fees and expenses charged by the funds in our model portfolios as well
as the wrap fees charged by MissionSquare Wealth Management, a portion of
which is shared with us, as discussed above.            MissionSquare Wealth
Management’s wrap fee program clients could invest in the funds directly,
without using our model portfolios, which would result in the clients paying
lower fees. Please see Item 12 for a discussion of brokerage practices.

Item 7 Types of Clients

We provide the model portfolio services described in this Brochure to our
affiliate, MissionSquare Wealth Management. MissionSquare Wealth
Management is a broker-dealer and investment adviser registered with the SEC
and uses our model portfolios in connection with wrap fee programs sponsored
by MissionSquare Wealth Management. Please see Item 4 for more information.