Standard Investment Management Fee

Performance-Based Investment Management Fee

A “Qualified Client” may choose to be charged a Performance-Based Investment Management Fee only on the Client’s accounts composed of individual U.S.-traded stocks managed by T&T in return for a 2/3rds reduction in the Standard Investment Management Fee on those accounts.  The Performance-Based Fee is  20% of the annual total return on such accounts, after deduction of the Annual Base Investment Management Fee set forth below, that is in excess of the total return on the S&P 500 Index or other agreed benchmark for the calendar year.  The Performance-Based Fee, to the extent it would cause the total return on a Client’s account for the calendar year to be less than zero, is carried forward an added to the Performance-Based Fee for the next calendar year.  A “Qualified Client” is defined by the SEC to be (1) an individual Client with a net worth of $2.2 million excluding equity in a primary residence or with $1.1 million in accounts directly  managed by T&T or (2) an institutional Client that qualifies as a Qualified Client under SEC rules.

​

                   Annual Base Investment Management Fee for Performance-Based Fee Accounts:

                        On assets under advisement below $5 million:                                   0.20%

                        On assets under advisement between $5 and $10 million:               0.167%

                        On assets under advisement above $10 million:                                 0.133%