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12.4. Subscription Fee

Each individual Investment Compartment may charge Subscription Fee as specified in its Supplement. 

The Manager reserves the right to change the Subscription Fee. In the event the change of the Subscription Fee is for individual subscriptions, it shall be made prior to any Subscription Application, shall be reflected in the individual Subscription Application and shall not affect the Offering Memorandum and its Supplements. In the event the change of the Subscription Fee is general for any Investment Compartment the Offering Memorandum and the relevant Supplement shall be revised, to depict any additional charge. Any taxes, commissions and other fees incurred in the respective countries or jurisdictions in which Units are sold will also be charged, if any, to the Investors.