Granite, One Fee, Nothing Hidden

What this asks of you

One fee to us, disclosed before you invest.

◆ Disclosed before you invest

One number, and it is ours. This is what Granite charges to run the account, and it is the same whether the market is up or down.

Our advisory fee

1.25%/yr

What Granite charges to manage the account. One flat number, disclosed before you invest, the same whether the market is up or down. It covers running the strategy from start to finish: the option structures, replacing them at each outcome period, and the reporting. There is no Granite fund charge underneath it (the index fund and the Treasury-bill fund that hold your money have their own expenses, described in their prospectuses and reflected in their performance), no charge for creating a bank note built into the price you pay, and no markup on top. It is all in. Your adviser bills it and pays Granite its share as sub-adviser. You are not charged twice, and nothing is added on top. Your own advisor's own fee, if you have one, is separate and unchanged.

No fund layer of ours

None

Your money is held in an index fund, and any leftover in a Treasury-bill fund. Each fund has its own expenses, described in its prospectus and reflected in its performance. Granite adds no fund charge on top of the advisory fee.

No note-issuance layer

None

You're not buying a bank note, so there is no charge for creating one built into the price you pay.

No Granite markup

None

Granite adds no markup or spread of its own to your trades. The ordinary costs of trading still apply, including the small gap between the buying and selling price in the market, the same as in any account.

No share of the gap

None

Where your payoff begins sits above today's level. The market sets that level, not Granite — it is not a fee, nothing leaves your account, and no part of it goes to Granite or to an introducing advisor. It is simply what the protection asks of you, and the protection is yours.

The 1.25% advisory fee is payable in full regardless of how the investment performs, and is disclosed to you before you invest. It does not cover the ordinary costs any account bears, like the small gap between buying and selling prices in the market, or any custodian, exchange, regulatory, or tax charges. See disclosures for full detail.