E-Star Commercial Management Co Ltd said it has signed a supplemental agreement to its discretionary investment management agreement with its fund manager, clarifying that the portfolio will primarily be invested in USD money market funds and only in IPO placements when suitable opportunities arise. The company also disclosed the fee structure: a 0 percent management fee on IPO-related transactions, a 0.05 percent annual management fee on money market fund assets (with no fee on the portion invested in the ABCI USD Money Market Fund to avoid double-charging), and a 2 percent performance fee on IPO share allocations. The company has deposited HK$50 million into the managed account and set an upper investment limit of HK$200 million.

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