Offering Terms
Initial/Subsequent Minimum Investment: $1,000,0006/$5,000
Maximum Sales Load: None
Distribution and Servicing Fee: None
Management Fees:
- 0.25% on managed assets7 payable quarterly until March 31, 2023
- 1.40% on managed assets thereafter
Incentive Fee: 12.50% per annum payable quarterly, subject to a high-water mark with a reset mechanism
Expense Limitation Agreement: The Adviser has agreed to waive fees or assume expenses of the Fund so that “Other Expenses”6 do not exceed 0.30% per annum of the Fund’s average monthly net assets of each share class
Total Estimated Gross Expenses at NAV8: 3.66%
Total Estimated Net Expenses at NAV9: 2.18%