Whittier Advisors LLC

Item 5 – Fees and Compensation

A.      Fee Schedule
Registered Investment Companies
Whittier provides discretionary investment management services to the Ambrus Funds. Each
Fund’s prospectus and statement of additional information will include information about the
fees and expenses paid by the Fund. Portfolio management fees and any additional compensation
paid to Whittier may be waived by Whittier in its sole discretion, both voluntarily and on a
negotiated basis with a Fund’s Board or similar body (though not with individual investors in a
Fund). Whittier may receive additional compensation for administrative or other services

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provided to the Funds as described in the respective Fund’s prospectus and statement of
additional information.
Private Client Wealth Management/Portfolio Management Services
Advisory fees for wealth and portfolio management services typically range from 0.65% to 1.00%,
with consideration given to account size, investment complexity, discretionary authority granted
to Whittier, and the relationship's service requirements. Minimum fees may be negotiable under
certain circumstances.
For wealth and portfolio management services, if a client gives Whittier discretion to use client
assets on which Whittier charges an asset-based advisory fee to purchase interests in the Ambrus
Funds, Whittier will discount a portion of its account-level advisory fees in an amount that
approximates the advisory fee charged by Whittier within the Fund in which the client invested,
unless otherwise agreed or disclosed to the client.
If Whittier invests a client’s account in interests in unaffiliated funds, such as exchange-traded
funds (ETFs), mutual funds, closed-end funds (CEFs), or private funds, that are not advised or sub-
advised by Whitter, the client’s account will pay the fees and expenses of these funds in addition
to the separate account fees, as further described in “B. Third Party Fees” below.
Strategy-Specific Separate Account Management/Sub-Advisory Services
Fixed income strategy-specific separately managed accounts typically incur advisory fees ranging
from 0.20% to 0.50%, based on account size, strategy type, asset class, and customization level.
Equity strategy-specific separately managed accounts typically incur advisory fees ranging from
0.50% to 0.70%, determined by the same factors.
Whittier’s Non-Discretionary Services
Fees for these services are individually negotiated and depend on the type and complexity of the
services requested.
Fee Calculation and Billing
Fees are generally billed quarterly or monthly in arrears, based on the fair market value (including
cash and cash equivalents, as well as realized and unrealized gains and losses and accrued income)
of the average daily value of the account’s assets of the preceding quarter. Fees are prorated for
the billing period at the beginning or end of a client relationship. The investment advisory fee and
method of fee calculations are included in clients’ investment advisory agreements.
B.      Third-Party Fees
For investment management services, a client may also incur brokerage commissions, mark-ups
or mark-downs and other transaction costs associated with transactions that are executed in their
accounts. Please see Item 12, “Brokerage Practices,” for a discussion of our brokerage practices.
In addition, clients may also incur taxes as a result of transactions undertaken in their accounts.
Whittier’s fees are exclusive of brokerage commissions, transaction fees, and other related costs
and expenses which shall be incurred by the clients. Such charges, fees and commissions are

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exclusive of and in addition to Whittier’s management fee, and Whittier shall not receive any
portion of these commissions, fees, and costs.
Clients may also incur investment management fees and other expenses associated with any
unaffiliated funds, such as exchange-traded funds (ETFs), mutual funds, closed-end funds (CEFs),
or private funds, that are not advised or sub-advised by Whitter that are held in their account.
Whittier does not share in any portion of the management fees of these third-party funds. Clients
should be aware that investments in third-party funds, particularly private funds and other
alternative assets, can incur additional layered fees, such as management fees, performance-
based compensation ("carry"), and other expenses, such as legal and audit fees. These fees are in
addition to Whittier's advisory fees. In "fund-of-funds" or similar structures, multiple layers of
fees may apply at both the platform and underlying fund levels.
C.      Allocation of Expenses
Whittier manages multiple Funds which have investment objectives that currently, and may in the
future, overlap with those of one or more other Funds. The appropriate allocation of expenses
and fees for investments and investment opportunities between or among the Funds and its other
accounts will be determined by Whittier and its related persons, respectively, in their good faith
discretion, consistent with Whittier’s expense allocation policies and procedures, which are
designed to allocate expenses in a fair and reasonable manner among the Funds. In addition, fees
and expenses, including fees and expenses of service providers, will be allocated in accordance
with the Funds’ prospectus or statement of additional information. To the extent not addressed
therein, Whittier, to the extent it has the authority to do so, will make any such allocation
determination in a fair and reasonable manner using its good faith judgment, notwithstanding its
interest (if any) in the allocation. As a result, in exercising discretion to allocate fees and expenses,
Whittier is faced with a variety of potential conflicts of interest, which are disclosed in the
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Item 7 – Types of Clients

Whittier provides discretionary investment advice to the Ambrus Funds, other asset managers
(primarily WTC and WTCNV) for the benefit of their respective clients invested in strategy-specific
separately managed accounts/sub-advisory services (such as the FI Strategies), and high-net-
worth individuals and trusts (“private client wealth management/portfolio management
services”), tax-exempt organizations and other asset management firms. Whittier also provides
non-discretionary advice to WTC and WTCNV.