Annual management fees are based on a percentage of assets under management: 0.75% on the first $2 million, 0.60% on the next $2 million, and 0.50% thereafter. Fees are generally payable quarterly, in advance, based on the previous quarter-end market value. The minimum account size is generally $100,000, but this may be reduced for brokerage networks and individuals. Fees and billing procedures may be negotiable in certain circumstances.