Zeal Asset Management Limited

ITEM 5: FEES AND COMPENSATION
FUNDS:
The fees paid to ZAML are detailed in each Fund’s IMA and in each Fund’s offering material. The fees
generally include:
        an annual or annualized management fee expressed as a percentage of the Fund’s assets under

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        management with ZAML; and
       incentive or performance-based fees or compensation calculated based on performance.
See the fee schedules below and Item 6 for more information on the range of these fees and
information regarding fees.
Investors bear additional fees and expenses as detailed in the offering materials.
Funds may maintain multiple class structures with differing fees paid by each class, which structures
are described in that Fund’s offering materials.

1) Fees for Zeal China Fund (ZCF)
Management Fee:         up to 2% per annum payable monthly in arrears
Performance Fee:        20% per annum with “High Watermark”
Subscription Fee:       Up to 5% of the Subscription Price.
Redemption Fee:         2% in the first 12 months
Please refer to the Fund offering documents for detailed description of the fees and expenses.

2) Fees for ZEAL Voyage China Fund (ZVCF): (please note that ZVCF are not available to U.S. Persons.)
The following fees and charges are payable by unitholders:
Subscription Fee:       Up to 5% of the Subscription Price.
Redemption Fee:         There is no redemption fee applicable.

The following fees and charges are payable to ZAML out of the assets:

Management Fee
ZAML is entitled to a management fee of 1.75% per annum of the Net Asset Value. The management fee
will be accrued as at each “Valuation Day” and is be payable monthly in arrears.
Performance Fee
The performance fee will be calculated and accrued on each valuation day and will be payable in arrears
after the end of each performance period. The performance fee will be equal to 15% of the appreciation
in the net asset value per unit during the relevant performance period above the High Watermark (as
defined above) per unit.

3) Fees for Bosera Zeal Hong Kong Equity Plus Fund (“BZHKEPF”) (please note that BZHKEPF is not
available to U.S. Persons.)
The fees of ZAML will be separately agreed with the manager of the fund and reimbursed out of the
manager’s management and performance fees received.

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4) Fees for separately managed accounts
The fees for separately managed account will be negotiated based on account size, investment mandate,
and whether the account is billed monthly or quarterly in arrears. If billed quarterly in arrears, the fee will
typically be based on the value of the account as of the last day of the previous quarter. Although, under
certain circumstances the fee may be based on an average of the month-end account values, if agreed to
with the client.
Apart from an agreed management fee, ZAML may also charge a performance fee if agreed to with the
client. Performance fees will only be charged to separately managed accounts owned by U.S. Persons
that are “Qualified Clients” as that is defined by Rule 205-3 under the Advisers Act.

ITEM 7: TYPES OF CLIENTS
1) Description
We provide investment advisory services to the Funds and to the separately managed accounts of
institutional clients including financial services firms and pooled investment vehicles. We may also
provide our services to clients which are family offices or who are high net worth individuals.

2) Account Minimums
For segregated accounts, an initial amount of USD 100 million will generally be required. We may accept
a lower minimum in our exclusive discretion.