2.4.0.8060400 - Disclosure - Fees and Related Party Transactionstruefalsefalse1falsefalsefalsec20130101to20130630http://www.sec.gov/CIK0001461237duration2013-01-01T00:00:002013-06-30T00:00:001true1us-gaap_RelatedPartyTransactionsAbstractus-gaap_truenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00falsefalsefalsexbrli:stringItemTypestringfalse02false2us-gaap_RelatedPartyTransactionsDisclosureTextBlockus-gaap_truenadurationfalsefalsefalsefalsefalsefalsefalsefalseverboseLabel1falsefalsefalse00<div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><div style="text-indent: 0pt; display: block; font-family: Times New Roman; font-size: 10pt; font-weight: bold;">4. Fees and Related Party Transactions</div><div style="text-align: justify; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"> </div><div style="text-align: left; font-style: italic; text-indent: 0pt; display: block; font-family: Times New Roman; margin-left: 0pt; font-size: 10pt; margin-right: 0pt;">Advisory Fees</div><div style="text-align: justify; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"> </div><div style="text-align: justify; text-indent: 0pt; display: block; font-family: Times New Roman; margin-left: 0pt; font-size: 10pt; margin-right: 0pt;">For the three and six months ended June 30, 2013 and 2012, each Class of GAIT 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 of<font style="display: inline; font-size: 10pt;"> </font>which any subscription or redemption is effected with respect to Units of such Class during the month.</div><div style="text-align: justify; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"> </div><div style="text-align: justify; font-style: italic; text-indent: 0pt; display: block; font-family: Times New Roman; margin-left: 0pt; font-size: 10pt; margin-right: 0pt;">Sponsor Fees</div><div style="text-align: justify; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"> </div><div style="text-align: justify; text-indent: 0pt; display: block; font-family: Times New Roman; margin-left: 0pt; font-size: 10pt; margin-right: 0pt;">For the three and six months ended June 30, 2013 and 2012, each Class of GAIT other than Class M paid 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 each month in the same manner as the Advisory Fee.  For the three and six months ended June 30, 2013 the Sponsor Fee listed below for Class 2 included a selling agent fee (the “Selling Agent Fee”) of 2%. The Selling Agent Fee compensates selling agents for initial and on-going services to the Fund.</div><div style="text-align: justify; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"> </div><div style="text-align: center;"><table cellpadding="0" cellspacing="0" style="width: 80%; font-family: times new roman; font-size: 10pt;"><tr><td valign="bottom" style="border-bottom: black 2px solid; width: 25%;"><div style="text-align: center; text-indent: 0pt; display: block; font-family: times new roman; margin-left: 0pt; font-size: 10pt; font-weight: bold; margin-right: 0pt;">Class</div></td><td valign="bottom" style="border-bottom: black 2px solid; width: 1%; font-family: times new roman; font-size: 10pt; font-weight: bold;"> </td><td colspan="2" nowrap="nowrap" valign="bottom" style="border-bottom: black 2px solid; width: 26%;"><div style="text-align: center; text-indent: 0pt; display: block; font-family: times new roman; margin-left: 0pt; font-size: 10pt; font-weight: bold; margin-right: 0pt;">2013 Annual Rate</div></td><td nowrap="nowrap" valign="bottom" style="border-bottom: black 2px solid; text-align: left; width: 1%; font-family: times new roman; font-size: 10pt; font-weight: bold;"> </td><td valign="bottom" style="border-bottom: black 2px solid; width: 1%; font-family: times new roman; font-size: 10pt; font-weight: bold;"> </td><td colspan="2" nowrap="nowrap" valign="bottom" style="border-bottom: black 2px solid; width: 25%;"><div style="text-align: center; text-indent: 0pt; display: block; font-family: times new roman; margin-left: 0pt; font-size: 10pt; font-weight: bold; margin-right: 0pt;">2012 Annual Rate</div></td><td nowrap="nowrap" valign="bottom" style="text-align: left; padding-bottom: 2px; width: 1%; font-family: times new roman; font-size: 10pt; font-weight: bold;"> </td></tr><tr><td valign="bottom" style="width: 25%; display: inline; font-family: times new roman; font-size: 10pt;">  </td><td valign="bottom" style="width: 1%; display: inline; font-family: times new roman; font-size: 10pt;"> </td><td colspan="2" nowrap="nowrap" valign="bottom" style="width: 26%; display: inline; font-family: times new roman; font-size: 10pt;"> </td><td nowrap="nowrap" valign="bottom" style="text-align: left; width: 1%; font-family: times new roman; font-size: 10pt;"> </td><td valign="bottom" style="width: 1%; display: inline; font-family: times new roman; font-size: 10pt;"> </td><td colspan="2" nowrap="nowrap" valign="bottom" style="width: 25%; display: inline; font-family: times new roman; font-size: 10pt;"> </td><td nowrap="nowrap" valign="bottom" style="text-align: left; width: 1%; font-family: times new roman; font-size: 10pt;"> </td></tr><tr bgcolor="#cceeff"><td valign="bottom" style="width: 25%;"><div style="text-align: center; text-indent: -18pt; display: block; font-family: times new roman; margin-left: 0pt; font-size: 10pt; margin-right: 0pt;">Class 0</div></td><td valign="bottom" style="width: 1%; display: inline; font-family: times new roman; font-size: 10pt;"> </td><td valign="bottom" style="text-align: left; width: 1%; font-family: times new roman; font-size: 10pt;"> </td><td valign="bottom" style="text-align: center; width: 25%; font-family: times new roman; font-size: 10pt;">0.75%</td><td nowrap="nowrap" valign="bottom" style="text-align: left; width: 1%;"> </td><td valign="bottom" style="width: 1%; display: inline; font-family: times new roman; font-size: 10pt;"> </td><td valign="bottom" style="text-align: left; width: 1%; font-family: times new roman; font-size: 10pt;"> </td><td valign="bottom" style="text-align: center; width: 24%; font-family: times new roman; font-size: 10pt;">1.00%</td><td nowrap="nowrap" valign="bottom" style="text-align: left; width: 1%;"> </td></tr><tr bgcolor="white"><td valign="bottom" style="width: 25%;"><div style="text-align: center; text-indent: -18pt; display: block; font-family: times new roman; margin-left: 0pt; font-size: 10pt; margin-right: 0pt;">Class 2</div></td><td valign="bottom" style="width: 1%; display: inline; font-family: times new roman; font-size: 10pt;"> </td><td valign="bottom" style="text-align: left; width: 1%; font-family: times new roman; font-size: 10pt;"> </td><td valign="bottom" style="text-align: center; width: 25%; font-family: times new roman; font-size: 10pt;">2.75%</td><td nowrap="nowrap" valign="bottom" style="text-align: left; width: 1%;"> </td><td valign="bottom" style="width: 1%; display: inline; font-family: times new roman; font-size: 10pt;"> </td><td valign="bottom" style="text-align: left; width: 1%; font-family: times new roman; font-size: 10pt;"> </td><td valign="bottom" style="text-align: center; width: 24%; font-family: times new roman; font-size: 10pt;">1.00%</td><td nowrap="nowrap" valign="bottom" style="text-align: left; width: 1%;"> </td></tr></table></div><div style="text-align: justify; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"> </div><div style="text-align: left; font-style: italic; text-indent: 0pt; display: block; font-family: Times New Roman; margin-left: 0pt; font-size: 10pt; margin-right: 0pt;">Incentive Allocation</div><div style="text-align: justify; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"> </div><div style="text-align: justify; text-indent: 0pt; display: block; font-family: Times New Roman; margin-left: 0pt; font-size: 10pt; margin-right: 0pt;">At the end of each calendar quarter, the Manager of GAIT 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 GAIT, 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 GAIT 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.</div><div style="text-align: justify; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"> </div><div style="text-align: left; font-style: italic; text-indent: 0pt; display: block; font-family: Times New Roman; margin-left: 0pt; font-size: 10pt; margin-right: 0pt;">Brokerage Fees</div><div style="text-align: justify; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"> </div><div style="text-align: justify; text-indent: 0pt; display: block; font-family: Times New Roman; margin-left: 0pt; font-size: 10pt; margin-right: 0pt;">For the three and six months ended June 30, 2012, each Class of GAIT 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.</div><div style="text-align: justify; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"> </div><div style="text-align: center;"><table cellpadding="0" cellspacing="0" style="width: 80%; font-family: times new roman; font-size: 10pt;"><tr><td valign="bottom" style="border-bottom: black 2px solid; width: 40%;"><div style="text-align: center; text-indent: 0pt; display: block; font-family: times new roman; margin-left: 0pt; font-size: 10pt; font-weight: bold; margin-right: 0pt;">Class</div></td><td valign="bottom" style="border-bottom: black 2px solid; width: 1%; font-family: times new roman; font-size: 10pt; font-weight: bold;"> </td><td colspan="2" nowrap="nowrap" valign="bottom" style="border-bottom: black 2px solid; width: 38%;"><div style="text-align: center; text-indent: 0pt; display: block; font-family: times new roman; margin-left: 0pt; font-size: 10pt; font-weight: bold; margin-right: 0pt;">Annual Rate</div></td><td nowrap="nowrap" valign="bottom" style="text-align: left; padding-bottom: 2px; width: 1%; font-family: times new roman; font-size: 10pt; font-weight: bold;"> </td></tr><tr><td valign="bottom" style="width: 40%; display: inline; font-family: times new roman; font-size: 10pt;">  </td><td valign="bottom" style="width: 1%; display: inline; font-family: times new roman; font-size: 10pt;"> </td><td colspan="2" nowrap="nowrap" valign="bottom" style="width: 38%; display: inline; font-family: times new roman; font-size: 10pt;"> </td><td nowrap="nowrap" valign="bottom" style="text-align: left; width: 1%; font-family: times new roman; font-size: 10pt;"> </td></tr><tr bgcolor="#cceeff"><td valign="bottom" style="width: 40%;"><div style="text-align: center; text-indent: -18pt; display: block; font-family: times new roman; margin-left: 0pt; font-size: 10pt; margin-right: 0pt;">Class 0</div></td><td valign="bottom" style="width: 1%; display: inline; font-family: times new roman; font-size: 10pt;"> </td><td valign="bottom" style="text-align: left; width: 1%; font-family: times new roman; font-size: 10pt;"> </td><td valign="bottom" style="text-align: center; width: 37%; font-family: times new roman; font-size: 10pt;">2%</td><td nowrap="nowrap" valign="bottom" style="text-align: left; width: 1%;"> </td></tr><tr bgcolor="white"><td valign="bottom" style="width: 40%;"><div style="text-align: center; text-indent: -18pt; display: block; font-family: times new roman; margin-left: 0pt; font-size: 10pt; margin-right: 0pt;">Class 2</div></td><td valign="bottom" style="width: 1%; display: inline; font-family: times new roman; font-size: 10pt;"> </td><td valign="bottom" style="text-align: left; width: 1%; font-family: times new roman; font-size: 10pt;"> </td><td valign="bottom" style="text-align: center; width: 37%; font-family: times new roman; font-size: 10pt;">4%</td><td nowrap="nowrap" valign="bottom" style="text-align: left; width: 1%;"> </td></tr></table></div><div style="text-indent: 0pt; display: block;"> </div><div style="text-align: justify; text-indent: 0pt; display: block; font-family: Times New Roman; margin-left: 0pt; font-size: 10pt; margin-right: 0pt;">In consideration of the Brokerage Fee, the Manager assumed all of GAIT’s 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 GAIT and the Fund and the continuous offering of Units. To the extent GAIT was allocated any of these expenses from the Master Funds in which they invested, the Manager reimbursed GAIT for those amounts. These reimbursements are included in commission reimbursements in GAIT’s statements of operations and managing member allocation. As a result, there is no impact to the Fund’s statement of operations.</div><div style="text-align: justify; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"> </div><div style="text-align: justify; text-indent: 0pt; display: block; font-family: Times New Roman; margin-left: 0pt; font-size: 10pt; margin-right: 0pt;">As of January 1, 2013 GAIT eliminated the Brokerage Fee and GAIT began to absorb directly all costs previously covered by the Brokerage Fee.</div><div style="text-align: justify; font-style: italic; text-indent: 0pt; display: block; font-family: Times New Roman; margin-left: 0pt; font-size: 10pt; margin-right: 0pt;"> </div><div style="text-align: justify; font-style: italic; text-indent: 0pt; display: block; font-family: Times New Roman; margin-left: 0pt; font-size: 10pt; margin-right: 0pt;">Administrator’s Fee</div><div style="text-align: justify; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"> </div><div style="text-align: justify; text-indent: 0pt; display: block; font-family: Times New Roman; margin-left: 0pt; font-size: 10pt; margin-right: 0pt;">For the six month period ended June 30, 2013, GAIT paid SEI a monthly administrator’s fee based on GAIT’s net asset value, calculated as of the last business day of each month. In addition, GAIT reimbursed SEI for reasonable out-of-pocket expenses incurred on behalf of GAIT. The total administrator’s fees allocated to the Fund by GAIT for the six month period ended June 30, 2013 and 2012 were $30,695 and $0, respectively.</div><div style="text-align: justify; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"> </div><div style="text-align: justify; text-indent: 0pt; display: block; font-family: Times New Roman; margin-left: 0pt; font-size: 10pt; margin-right: 0pt;">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.</div></div>falsefalsefalsenonnum:textBlockItemTypenaThe entire disclosure for related party transactions. 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