SUB-ITEM 77Q(1)(e) - Agility Fund


WELLS FARGO INVESTMENT INSTITUTE, INC.
401 South Tryon Street
Charlotte, NC 28202



As of January 1, 2017

GAI AGILITY INCOME FUND
c/o Wells Fargo Investment Institute, Inc.
401 South Tryon Street
Charlotte, NC 28202

Re: Advisory Fee Waiver Agreement

With reference to the Advisory Agreement dated as of August
12, 2010, by and between Wells Fargo Investment Institute,
Inc. (formerly Alternative Strategies Group, Inc.)  (the
"Advisor") and GAI Agility Income Fund (the "Fund"), we
hereby notify you as follows:

     1. 	The Adviser agrees to waive a portion of its
management fee to the extent necessary to prevent the
monthly fee payable to the Adviser by the Fund from
exceeding one-twelfth of 1.00% of the aggregate value of
the outstanding shares of the Fund determined as of the
last Business Day of the month (before any repurchases of
shares).

     2. 	This letter agreement shall remain in effect for
one year following its effective date, January 1, 2017.
During the periods covered by this letter agreement, the
fee waiver arrangement set forth above for the Fund may
only be modified by a majority vote of the trustees of the
Fund who are not "interested persons" (as defined under the
Investment Company Act of 1940, as amended (the "1940
Act")).

     3.  	We understand and intend that you will rely on
this undertaking in preparing and filing the Registration
Statements on Form N-2 for the above referenced Fund with
the Securities and Exchange Commission, in accruing the
Fund's expenses for purposes of calculating its net asset
value per share and for other purposes permitted under Form
N-2 and/or the 1940 Act, and expressly permit you to do so.


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Very truly yours,

WELLS FARGO INVESTMENT INSTITUTE, INC.


By: _________________________
Name: Adam Taback
Title: Head of Global Alternative Investments



ACCEPTED AND AGREED TO ON BEHALF OF:

GAI AGILITY INCOME FUND


By: _________________________
Name: Adam Taback
Title: President