Delphia Fund Classes

Minimum: $1 Million USD 

Availability: Until aggregate Founder Class AUM reaches $50 million USD 

Management Fee: 1.50% - reduced to 1.00% at $250 million in aggregate AUM 

Incentive Allocations:

• 10.00% if we make 10.00% or less gross returns  
• 20.00% on the incremental if we make more than 10.00% (reduced to 15.00% on the incremental at $250mm in aggregate AUM) 

Subscriptions: Monthly  

Redemptions: 

• End of Quarter with 45 day written advanced notice  
• Investor Redemption scaled over 4 quarterly redemption periods  

Lock-up:  1-year with an Early Redemption Fee of 5% during lock-up period  

High Watermark – Yes  

Perpetual - Yes  

Series Accounting:

Annual Consolidation / Crystallization of Incentive Allocations  

Minimum: $250,000 USD

Management Fee: 2.00% 

Incentive Allocations:

• 10.00% if we make 10.00% or less gross returns  
• 20.00% on the incremental performance between 10.01% and 20.00% gross returns  
• 30.00% on the incremental performance between 20.01% and 30.00% gross returns  
• 40.00% on the incremental performance between 30.01% and 40.00% gross returns  
• 50.00% on the incremental performance above 40.00% gross returns 

Subscriptions: Monthly 

Redemptions: 

• End of Quarter with 45 day written advanced notice   
• Investor Redemption scaled over 4 quarterly redemption periods   

Lock-up:  1-year with an Early Redemption Fee of 5% during lock-up period   

High Watermark – Yes   

Perpetual - Yes   

Series Accounting :  

Annual Consolidation / Crystallization of Incentive Allocations