Item 1 – Cover Page - Fund Evaluation Group, LLC

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Additional Fees and Expenses FEG Managed Portfolios 2 An asset based fee is charged for FEG Managed Portfolios (Schedule for accounts less than $5 million) Assets Annual Fee First $100,000 1.15% Next $400,000 0.90% Next $500,000 0.73% Next $1,000,000 0.56% Over $2,000,000 0.55% Fees are charged quarterly, in advance Fees include travel and out of pocket expenses 5 Fund Evaluation Group, LLC Form ADV Part 2A-September 7, 2012 In addition to our advisory fees, clients are responsible for the fees and expenses charged by custodians and imposed by broker-dealers, including transaction charges, custodial fees, and commission costs. FEG also offers a variety of services and products with differing fee schedules, including the above services under “Full Service Consulting” on an a la carte or limited consulting basis, fees for which will be individually quoted based on the amount of time and expenses associated with those services. FEG client’s assets invested in proprietary FEG Funds will not be included as assets for purposes of the fee schedules above. The proprietary FEG Funds charge their own advisory fees and operating expenses as set forth in their offering memorandums provided to clients. FEG may be deemed to be a fiduciary to certain advisory clients that are employee benefit plans or individual retirement accounts (IRAs) pursuant to the Employee Retirement Income and Securities Act (ERISA). As such, our firm is subject to specific duties and obligations under ERISA and the Internal Revenue Code that include, among other things, restrictions concerning certain forms of compensation. Occasionally, FEG may, either directly or indirectly, through its affiliates, enter into side letter arrangements with regards to FEG proprietary funds. These arrangements are in writing and agreed upon by all parties. Upon termination of FEG’s services, FEG will assess a pro-rated fee for services rendered in accordance with the fee payment and termination provisions contained in the client contract. Minimum Account Requirements Existing advisory clients are subject to FEG’s minimum account requirements and advisory fees
6 Fund Evaluation Group, LLC Form ADV Part 2A-September 7, 2012 in effect at the time the client entered into the advisory relationship. Therefore, our firm’s minimum account requirements and fees will differ among clients. For further compensation arrangements please refer to Item 14 of this document. Item 6 – Performance-Based Fees and Side-By-Side Management In some cases, FEG may enter into performance fee arrangements with qualified clients. Such fees are subject to individualized negotiation with each such client. FEG will structure any performance or incentive fee arrangement subject to Section 205(a)(1) of the Investment Advisers Act of 1940 in accordance with the available exemptions thereunder, including the exemption set forth in Rule 205-3. In measuring clients' assets for the calculation of performance-based fees, FEG shall include realized and unrealized capital gains and losses. Performance based fee arrangements may create an incentive for FEG to recommend investments which may be riskier or more speculative than those which would be recommended under a different fee arrangement. Such fee arrangements also create an incentive to favor higher fee paying accounts over other accounts in the allocation of investment opportunities. FEG has procedures designed and implemented to ensure that all clients are treated fairly and equally, and to prevent this conflict from influencing the allocation of investment opportunities among clients. The fees will not be offered to any client residing in a state in which such fees are prohibited. Item 7 – Types of Clients FEG generally provides portfolio advisory services to various types of clients, including the following: • Charitable not-for-profit • Community Foundation • Corporate • Individuals and Family Offices • Healthcare (for profit and not-for-profit) • Higher Education (private and public) • Independent Schools • Insurance • Private/Family Foundation • Religious • Public Funds (State or Municipal Entities) • Taft Hartley
Page 1 and 2: Item 1 - Cover Page Fund Evaluation
Page 3 and 4: Item 3 -Table of Contents Fund Eval
Page 5 and 6: 2 Fund Evaluation Group, LLC Form A
Page 7: Full Service Consulting An asset ba
Page 11 and 12: Strategic Asset Allocation 8 Fund E
Page 13 and 14: Fund Evaluation Group, LLC Form ADV
Page 15 and 16: 12 Fund Evaluation Group, LLC Form
Page 17 and 18: Policy Statement, specifically deve
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Item 1 – Cover Page - Fund Evaluation Group, LLC

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