Wasatch manages mutual funds, separate accounts, sub-advised funds, collective investment trusts and a private fund. Fees for separate accounts are negotiable and may vary from the typical fee schedules. Some clients may pay more or less than others receiving the same services. Wasatch also manages nine separate accounts which have performance fees. These accounts generally pay Wasatch a below-market management fee and then at the end of each performance period Wasatch is entitled to receive a performance fee if the account’s performance has exceeded the performance of an agreed upon benchmark.