Carrhae Capital (Difc) Limited

• Other

Item 5.E lists how the firm is compensated for its advice; Items 5.B, 6.A, and 7.A show whether its people or related companies can also earn commissions. Percentage of assets, fixed, hourly, subscription, and performance-based fees come from clients (a performance-based fee depends on investment results); commissions come with a sale or a trade, often from the company behind the product. How fees, commissions, and other arrangements differ

Account minimum: $5,000,000 (the brochure says it may be waived or negotiated)

As stated in the firm's Form ADV Part 2A brochure dated August 11, 2026. Fees can differ by service and may be negotiable; the brochure is the complete statement. Read the brochure on the SEC's IAPD site

$6,079,358,063 as of October 2026, filing dated August 11, 2026.

A measure of scale, not skill or returns. Discretionary means the firm decides trades; non-discretionary means clients approve each one. What assets under management means

A firm with no individual clients is an institutional manager even if it manages billions; the mix tells you whom the practice is built around.

• Portfolio management for pooled investment vehicles (other than investment companies)

Registration

SEC-registered investment adviser. Status as filed: Approved.

Registered since

2025 (1 year)

Employees

Total: 8. Performing investment advisory functions: 6.

Wrap fee program participation

No.

Other offices (Schedule D, Section 1.F)

2 other offices, as of the September 2026 filing

LondonOslo

States registered or notice-filed

Not reported.

SEC-registered investment advisers are examined by the SEC. SEC, state, and exempt registration

None Reports no disclosure items on Form ADV Item 11. View on IAPD.

Item 11 asks about criminal, regulatory, and civil events involving the firm and its advisory personnel. The detail of each yes answer is on the IAPD record. Reading a firm's disclosures

1. September 2026
   • Updated its list of owners and control persons (Schedule A).
2. April 2026
   • Regulatory assets under management went from $4,274,935,982 to $6,079,358,063 (+42%).
   • Employees performing advisory functions went from 5 to 6.
3. December 2025
   • Newly registered with the SEC.

Compared month to month from the SEC's monthly adviser data and the state compilation feed. Owners and control persons are summarized, never named.