Fees and Related Party Transactions

3 Months Ended

Mar. 31, 2013

Fees and Related Party Transactions [Abstract]

Fees and Related Party Transactions

4. Fees and Related Party Transactions

Advisory Fees

For the three months ended March 31, 2013 and 2012, each Class of the GAIT Funds other than Class M pays the Manager an advisory fee (the "Advisory Fee") at an aggregate annual rate equal to 1.75% and 2%, respectively, of the Net Asset Value of such Class. The Advisory Fee is payable monthly in arrears calculated as of the last business day of each month and any other date the Manager may permit, in its sole and absolute discretion, as ofwhich any subscription or redemption is effected with respect to Units of such Class during the month.

Sponsor Fees

For the three months ended March 31, 2013 and 2012, each Class of the GAIT Funds other than Class M pays the Manager a sponsor fee (the "Sponsor Fee") at an annual rate specified in the table below.  This Sponsor Fee was payable monthly in arrears calculated as of the last business day of the month in the same manner as the Advisory Fee. For the three months ended March 31, 2013 the Sponsor Fee listed below for Class 2 included a selling agent fee (the "Selling Agent Fee") of 2%. The Selling Agent Fee represented a fee for initial and on-going service fees to the Fund's selling agents.

Class	2013 Annual Rate	2012 Annual Rate
Class 0	0.75%	1.00%
Class 2	2.75%	1.00%

Incentive Allocation

At the end of each calendar quarter, the Manager of the GAIT Funds will receive a special allocation of net profits (the "Incentive Allocation") in an amount equal to 20% of the New High Net Trading Profits of each Class of the GAIT Funds, as defined in the LLC Agreement. The Incentive Allocation is also accrued and allocable on the date of redemption with respect to any Units that are redeemed prior to the end of a calendar quarter. Additionally, any loss carryforward attributable to any class of the GAIT Funds shall be proportionately reduced, effective as of the date of any redemption of any Units of such class, by multiplying the loss carryforward by the ratio that the amount of assets redeemed from such class bears to the net assets of such class immediately prior to such redemption. The loss carryforward of a class must be recouped before any subsequent Incentive Allocation can be made to the Manager.

Brokerage Fees

For the three months ended March 31, 2012, each Class of GAIT Funds other than Class M paid the Manager a brokerage fee (the "Brokerage Fee") at an annual rate specified in the table below. This Brokerage Fee was payable monthly in arrears calculated as of the last business day of each month in the same manner as the Advisory Fee.

Class	Annual Rate
Class 0	2%
Class 2	4%

In consideration of the Brokerage Fee, the Manager assumed all of the GAIT Funds' trading commissions (including exchange, clearing and regulatory fees relating to its trades), routine legal expenses, internal and external accounting, audit and tax preparation expenses, fees and expenses of an external or internal administrator, and expenses and costs of printing and mailing reports and notices, together with the costs incurred in connection with the organization of the GAIT Funds and the Fund and the continuous offering of Units. To the extent the GAIT Funds were allocated any of these expenses from the Master Funds in which they invested, the Manager reimbursed the GAIT Funds for those amounts. These reimbursements are included in commission reimbursements in the GAIT Funds' statements of operations and managing member allocation. As a result, there is no impact to the Fund's consolidated statement of operations.

As of January 1, 2013 the GAIT II eliminated the Brokerage Fee and the GAIT II incurred directly all costs previously covered by the Brokerage Fee.

Administrator's Fee

For the three month period ended March 31, 2013, the GAIT Funds paid SEI a monthly administrator's fee based on each GAIT Fund's net asset value, calculated as of the last business day of each month. In addition, the GAIT Funds reimbursed SEI for reasonable out-of-pocket expenses incurred on behalf of the GAIT Funds. The total administrator's fees allocated to the Fund by the GAIT Funds for the three month periods ended March 31, 2013 and 2012 were $33,658 and $0, respectively.

Any portion of any of the above fees, including the Incentive Allocation, may be paid by the Manager to third parties as compensation for selling activities in connection with the Fund.