DISCRETIONARY INVESTMENT MANAGEMENT AGREEMENT
THIS AGREEMENT is entered into on 04 May 2024
Between
(1) PARTY_1_NAME whose principal place of business is at PARTY_1_ADDRESS_SINGLE_LINE (the Broker)
(2) PARTY_2_NAME whose principal place of business is at PARTY_2_ADDRESS_SINGLE_LINE (the Investment Manager)
(3) PARTY_3_NAME whose principal place of business is at PARTY_3_ADDRESS_SINGLE_LINE (the Client)
Whereas
(A) The Investment Manager is a corporation licensed by REGULATOR (defined below) to carry out, inter alia, asset management related regulated activities.
(B) The Broker is a corporation licensed by REGULATOR (defined below) to carry out, inter alia, securities dealing related regulated activities.
(C) The Client has entered into the Account Agreement (defined below) with the Broker and the Client is the holder of the Account (defined below).
(D) The Client has completed the Risk Assessment Questionnaire (defined below), and has confirmed and acknowledged his risk tolerance level as stated therein.
(E) The Client has agreed to engage the Investment Manager, and the Investment Manager has accepted the engagement, to manage the Account on a discretionary basis subject to the terms and conditions of this Agreement.
It is agreed as follows:
and the performance fee - PERFORMANCE x N
Where:-
"W” means the amount withdrawn;
“C” means the Net Cash Amount;
“G” means the gross Account Value as at the end of the relevant Calculation Period (after deduction of the management fee for the relevant Calculation Period, but before deduction of the performance fee for the relevant Calculation Period);
"O” means an amount being the management fee for the relevant Calculation Period;
“N” means the part of the Net Profits that relates to the amount withdrawn.
(b) For any withdrawal by the Client during any Calculation Period subsequent to the first Calculation Period, the Investment Manager will use, amongst others, the greater of the net amount of cash paid into the Account as at the end of the relevant Calculation Period and the High Water Mark (“Greater Amount”) to calculate the performance fee on the amount withdrawn as follows:-
W- = N
and the performance fee = PERFORMANCE% x N
Where:-
"W” means the amount withdrawn;
"S” means the Greater Amount;
“G” means the gross Account Value as at the end of the relevant Calculation Period (after deduction of the management fee for the relevant Calculation Period, but before deduction of the performance fee for the relevant Calculation Period);
“O” means an amount being the management fee for the relevant Calculation Period;
“N” means the part of the Net Profits that relates to the amount withdrawn.
8. All performance fees shall be payable after each Calculation Period in arrears and debited directly from the Account as soon as is reasonably practicable after the relevant calculation thereof,
9. If this Agreement is terminated, the performance fee in respect of the then current Calculation Period will be calculated and paid as though the date of termination were the end of such Calculation Period provided that at the time of such termination, there are assets and positions (including cash, if any) held in the Account.
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