Yes, Mercer Global Advisors, on a non-discretionary basis, may recommend that qualified purchaser clients (i.e., those clients with a net worth in excess of $5million, excluding primary residence) consider an investment in private investment funds. If a Mercer Global Advisors client determines to become an unaffiliated private fund investor, the assets invested in the fund(s) shall be included as part of assets under management for purposes of Mercer Global Advisors calculating its investment advisory fee. Mercer Global Advisors’ advisory fee shall be in addition to fees charged by the fund. No client is under any obligation to consider or make an investment in any private investment fund(s).