# Fees, Expenses, and Carry

# If there are expenses associated with operating Tornado Fund, who is responsible for them?

Tornado Fund and its members are responsible for the costs and expenses related to Tornado Fund's activities, operations, and maintenance, as detailed in the operating agreement. This includes any fees charged by the service provider.

# Are there any fees are associated with Tornado Fund?

As noted in these FAQs, Tornado Fund's organizational documents expressly contemplate the use of a service provider to help facilitate, on behalf of the members, activity by Tornado Fund. As compensation for these services, the service provider will initially charge the following fees.

Year Service Provider Annual Fee
1 2%
2 1.6807%
3 1.375%
4 1.0610%
5+ 0.7491%

All fees are payable on a quarterly basis to the service provider and will begin to accrue once Tornado Fund launches. Members have the right to terminate the services of the service provider at any time.

Last updated: 6/15/2020, 3:25:26 PM