Elco Management Company, LLC

ELCO Management Company, LLC (EMC) is a fee-based SEC-registered investment adviser established in 1995, with a specialization in providing continuous advice and making investments for clients based on individual needs. EMC primarily manages the ELCO Select Fund, L.P., focusing on energy-related securities for capital appreciation. The firm also offers separately managed account programs in various sectors such as financial services, life sciences, water opportunities, and infrastructure income. EMC's fee structure includes management fees based on a percentage of the net asset value, with fees ranging from 1.50% for the ELCO Select Fund, L.P. to negotiable fixed fees for accounts under $100,000. Performance-based fees are applicable to certain programs and are typically 20% of net profits above a previous high watermark. EMC exercises investment discretion for the Fund and NFSMAs, while sub-advisors manage SMAs. The firm's investment strategies include long-term purchases, short-term purchases, trading, short sales, margin transactions, and option writing. EMC does not vote proxies on behalf of clients and does not offer consulting assistance regarding proxy issues. Clients are responsible for directing the voting of proxies and making elections related to their investment assets. EMC does not charge fees in advance and therefore does not provide financial information in the brochure.