Privileged Investors - BNP Paribas Investment Partners

Formation fees
The total costs and expenses of establishing the Fund of USD 90.000 have been paid by the
Fund out of the proceeds of the initial issue of Shares. These costs and expenses were
allocated to the Sub-Funds in accordance with the allocation rules set forth under section 15.
“Net Asset Value” extract from the prospectus of October 2008. These costs and expenses
have been amortized on a straight-line basis over 5 years from the date on which the Fund
commenced business and have been booked in the Profit and Loss account. None of the
formation expenses were for the benefit of the investment manager, custodian or any of its
directors or affiliates.
MNF USD MNF EUR MDF USD MDF EUR
2008 USD 0 EUR 0 USD 0 EUR 0
2007 USD 0 EUR 0 USD 0 EUR 0
Fees 2007as
per
Prospectus
Total cost of USD 90.000 was amortized over 5 years
Marketing and promotional expenses
No marketing and promotional expenses were charged to the Fund.
Subscription fees
A subscription charge of up to 5% of the aggregate subscription amount may be charged or
waived in whole or in part at the discretion of the Directors. Subscription charges are
generally paid by the subscribers directly to the financial intermediary through whom the
subscription application was made and are thus not received as income by the Fund, unless
the subscription is made directly to the Fund in which case these fees are forwarded by the
Fund to the investment manager.
The Fund is not paying any “aanbrengvergoedingen” to investors entering the Fund.
MNF USD MNF EUR MDF USD MDF EUR
2008 USD 0 EUR 159.384 USD 0 EUR 16.133
2007 USD 1.851 EUR 47.220 USD 0 EUR 36.486
Redemption fees
A redemption fee of up to 0.80% of the aggregate redemption amount may be charged and
paid to the Fund or may be waived in whole or in part at the discretion of the Directors. All
redemption requests for the same Class of a Sub-Fund dealt with on the same Redemption
Day are subject to the same redemption charge. The redemption fees are disclosed in the
annual report under the “Statement of operations and changes in net assets” under “Income”.
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