Keith Vanorden

TCW Investment Management offers various investment strategies with fees calculated as a percentage of the value of the assets managed. Fees vary based on the investment strategy and, in some cases, the size of the account. The fee schedule applied to an account for a particular strategy may consider other assets managed by TCW in other strategies for that account or that account’s owner and its affiliates. The investment management fee is subject to modification, reduction, and/or waiver, both voluntarily and on a negotiated basis with respect to certain accounts. Any such variation, modification, reduction or waiver may not be disclosed to other accounts.