Fees and Compensation — Form ADV Part 2A (6/28/2021)
[Brochure]
Item 5: Fees and Compensation
Investors in the Investment Vehicles are generally charged a fee consisting of (1) an annual
management fee (“Management Fee”) based on the Investment Vehicles’ net assets
attributable to each Investor; and (2) an annual performance fee (“Performance Fee”) which
is calculated based upon a percentage of the net capital appreciation of the Investment
Vehicles at the end of each fiscal year.
The Fund pays to WCM a Management Fee calculated on a share-by-share basis. The
Performance Fee is equal to (i) 1.75% in respect of each Class A share of the Fund, (ii) 1.5% in
respect of each Class B share of the Fund, and (iii) 1.25% in respect of each Class C share of
the Fund.
The Management Fee is payable monthly in arrears by the Investment Vehicles and is
deducted from the Investors’ assets in the Investment Vehicles. At the sole discretion of the
General Partner of the Partnership and the Directors of the Fund, the Management Fee may
be waived, reduced or calculated differently with respect to certain Investors, provided that
no reduction, waiver or amendment to the method of calculation may be agreed to without
the consent of WCM.
The Investment Vehicles pay for their organizational and initial offering expenses as well as
for their operating expenses, including but not limited to all accounting, auditing, tax
preparation, legal, administration, research and trading costs. The Investment Vehicles may
incur brokerage and other transaction costs. For further details on the Firm’s brokerage
practices refer to Item 12 of this Brochure.
Account Minimums and Types of Clients — Form ADV Part 2A (6/28/2021)
[Brochure]
Item 7: Types of Clients
WCM’s clients are the Fund and the Partnership. The Investors in the Investment Vehicles
must meet certain net worth requirements and make representations concerning their
sophistication as an investor and their ability to bear the risk of loss of its entire investment.
Investors in the Investment Vehicles may include high net worth individuals and a variety of
institutional investors (e.g. trusts, endowments, foundations, corporations and other types of
entities, including private fund-of-funds and other corporations or businesses) meeting the
terms of the exceptions and exemptions under which the Investment Vehicles operate and
wishing to invest in accordance with the Investment Vehicle’s investment objectives. Investors
seeking to invest in the Investment Vehicles must meet the requirements for a “qualified
purchaser” under the Investment Company Act of 1940, as amended (the “Investment
Company Act”).
WCM may establish minimum investment requirements for Investors in the Investment
Vehicles. The minimum subscription is $1,000,000 for initial investments in the Fund and
$100,000 for additional investments in the Fund. The Fund may accept subscriptions for lesser
amounts in the discretion of the General Partner. Subscriptions may be paid either by wire
transfer in immediately available funds in U.S. dollars or in securities or other property that is
acceptable to the General Partner, in its discretion. No certificates will be issued for Interests.
Limited Partners will, however, receive written confirmation of their holdings.