Services and fees

Investment Manager

Evans and Partners Investment Management Pty Limited is the Investment Manager of the Fund.

The Investment Manager will have day-to-day portfolio oversight, will be responsible for trade execution and will provide risk management for the term of the Investment Management Agreement.

The Investment Manager has in place a number of arrangements to access necessary skills and expertise. The Portfolio Manager will provide the Investment Manager with expert advice and recommendations in relation to its investment portfolio including the investment strategy, evaluation of investment opportunities and potential disposals, as well as portfolio management.

The Investment Manager will charge an investment management fee of 1.25% (inclusive of GST and net of RITC) of the gross asset value of the Fund. The Investment Manager may also be paid a performance fee of 10% (inclusive of the net effect of GST) of the excess return of the Fund above the higher of the MSCI Asia ex Japan Net Total Return (measured in USD and converted to AUD) (Index Return Hurdle) and the 10-year US Government Bond yield at the first business day of the calculation period (Absolute Return Hurdle) over each six-month period ending 31 March and 30 September in each year. The first calculation period is from 30 June 2018 to 30 September 2018. Performance fees are expected to accrue weekly but no less than monthly on the NAV and are also subject to the High Water Mark (which can be reset in certain circumstances) and an overall cap.

Responsible Entity

Walsh & Company Investments Limited is the Responsible Entity of the Fund.

The Responsible Entity is responsible for the overall management of the Fund, including the determination of its strategic direction with the aim of increasing Unitholder wealth through the performance of the Fund.

The Responsible Entity will charge a responsible entity fee for the operation of the Fund of 0.10% per annum (inclusive of GST and net of RITC).