Vontobel Asset Management Inc

ITEM 5. FEES AND COMPENSATION

Fee arrangements vary by investment strategy, product type, account type and size,
customization requirements such as in the case when an account has specialized investment
objectives, guidelines and restrictions, or the range of additional services provided to the client.
All fees are negotiated in advance and are specified in the written agreement between us and
each client. We reserve the right at our sole discretion to reduce or waive the management fee
for certain clients and fund investors. We typically charge a fee based on a percentage of a client’s
assets under management. Asset-based fees are calculated based on a percentage of the market
value of the investment portfolio under management at the end of the preceding period (daily
average, monthly average, end of each month or quarter) as specified in a client’s agreement. In
the absence of market values, the basis for calculation is fair value or daily NAV.

The minimum initial investment for separate accounts starts at $30 million and varies per strategy.
Irrespective of strategy, the minimum initial investment for the Commingled Funds is $10 million
with the exception of the Vontobel Investments Trust Private Fund (“Trust Fund”) where it is $5
million. On occasion, subject to negotiation and review of particularly circumstances, we may
waive the minimum initial investment requirements. In such cases, the fees charged for
investment advisory services may be higher than those fees indicated herein.

We do not automatically deduct advisory fees from client accounts. Client accounts are billed in
arrears for fees incurred as applicable per the terms of their Investment Management
Agreements. Separate account clients also have the option of paying investment management
fees in advance. Any pre-paid fees that have not been earned at the termination of a contract
with a client will be refunded. This is designed to avoid placing a client in the position of deciding
between forfeiting the unused portion of its fee or continuing to receive portfolio management
services that are no longer desired. The amount of the refund will be calculated pro rata and will
reflect a deduction of reasonable costs incurred in managing the client’s portfolio.

The management fees for the Trust Fund is deducted by the fund administrator monthly from the
aggregate assets of the funds. Investors in Trust Fund do not have the option of being billed
directly.

To the extent that a separate account’s or a Private Fund’s assets are held with its trustee or
custodian, the investor should be aware that such trustee or custodian may also charge
management or transactional fees with respect to such assets.

Separate Accounts
Our fees for managing an institutional separate account are determined through negotiation with
each client and are set forth in the Investment Management Agreement with the client. Our fee
may not cover the client’s pro rata share of the fees, expense and/or transaction charges incurred
by any mutual fund, ETF or other pooled investment vehicle (including funds or vehicles managed
by us) in which the account invests.

Non-Discretionary Clients
VAMUS charges advisory fees on a negotiated basis for its provision of model strategies to clients
for whom we do not have discretionary authorization for portfolio investment management. Fees

                                                  Form ADV Part2A - Vontobel Asset Management, Inc.

are typically asset based.

Wrap Fee Program Fees: When VAMUS provides non-discretionary services with respect to
programs sponsored by a Sponsor, participants in the Wrap Fee program will typically pay a single
fee (a “wrapped fee”) that covers the investment advisory services provided by VAMUS as well as
other services provided by the Sponsor. These other services can include, for example,
performance monitoring, custody, brokerage and/or other administrative services. VAMUS is not
responsible for the specific fee arrangements negotiated between the program manager and each
client participating in the program, and program participants should reference the Sponsor’s
brochure that describes the program and the client’s account documentation for the specific fees,
terms, and conditions applicable to the program. VAMUS receives a portion of the fees paid by
the program client. Our fees are negotiated with each Sponsor and will vary depending on the
amount of assets in the program, the level and scope of services provided, and the relationship,
among other considerations. Wrap Fee Program clients can also be subject to additional fees and
expenses including transaction fees such as custodial fees, commissions or dealer mark-ups or
mark-downs on principal transactions, product-level fees on investment funds, and other costs
imposed by the Sponsor or a third party such as odd-lot differentials, exchange fees and transfer
taxes.

Commingled Funds
Our advisory fees for the various Commingled Funds we manage or advise vary by vehicle and the
applicable fees and expenses are set forth in each Commingled Fund’s Investment Management
Agreement and/or other governing documents including subscription agreement, offering
memorandum, or prospectus. In certain cases, we may manage a portfolio with a similar
investment strategy as a Commingled Fund, in which case the fees charged to such a portfolio
(including any performance-based fees) are not necessarily identical to those of a Commingled
Fund with a similar investment strategy.

With respect to the services provided to the VAMSA Funds, we are compensated by VAMSA and
do not charge any fees or expenses directly to the VAMSA Funds. We do not automatically deduct
advisory fees from VAMSA. As indicated in the investment advisory agreement, the fees are billed
monthly and based on total expenses plus 10%. The other fees and expenses paid to VAMUS
include employee compensation and benefits, operating expenses such as rent and hardware,
...

ITEM 7. TYPES OF CLIENTS

We provide investment management and advisory services to institutional clients and
intermediaries, such as corporations, partnerships, foundations, associations, statutory trusts,
pension or profit-sharing plans, state or municipal government entities, sovereign wealth funds,
registered investment companies, foreign-registered funds, private funds, collective investment
trusts, insurance dedicated funds, other pooled investment vehicles, other investment advisers
and Wrap Fee Programs. Through Wrap Fee Programs, some of VAMUS’ advisory services are also
available to individual investors, including high net worth and other retail investors.

Private Fund investors are required to be an “accredited investor” as defined in Regulation D
under the Securities Act of 1933, as amended, and a “qualified purchaser” as defined in Section
2(a)(51) of the Investment Company Act. Investors should review the offering documents for each
Private Fund for further information with respect to the minimum requirements for investment.
Please refer to Item 5. Fees and Compensation for information related to the minimum account
size and general information about fees.

                                                  Form ADV Part2A - Vontobel Asset Management, Inc.