Avondale Conquest receives an annual management fee of 1% of assets under management for the Conquest I Fund, plus a performance allocation equal to 20% of the net profits of the Fund. As a Sub-Advisor for Prelude, Avondale Conquest may receive a performance allocation of up to 55% of the net profits of Prelude. The minimum investment in the Fund is $500,000, but this may be waived at the firm's discretion.