# Fees and Redemption

Venzo employs a transparent and competitive fee structure designed to align the platform's incentives with user success.

<table><thead><tr><th width="185.625">Fee Type</th><th width="198.26953125">Rate</th><th>Description</th></tr></thead><tbody><tr><td>Management Fee</td><td>0.5% - 2.0% annually</td><td>Charged on total AUM to cover operational and infrastructure costs</td></tr><tr><td>Performance Fee</td><td>10% - 20% of yield</td><td>Charged only on yield above a high-water mark; zero if no positive yield</td></tr><tr><td>Deposit Fee</td><td>0% (most vaults)</td><td>Zero deposit fees to minimize friction</td></tr><tr><td>Withdrawal Fee</td><td>0% - 0.5%</td><td>May apply for early withdrawal from time-locked vaults</td></tr></tbody></table>

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### Redemption Periods

Redemption periods vary based on the liquidity profile of the underlying assets:

**Liquid Strategies (Delta-Neutral, Cash Management):** These vaults typically offer daily or weekly liquidity. Users can request withdrawals at any time, and funds are typically available within 1-7 business days depending on the current utilization rate of the vault.

**Semi-Liquid Strategies (Commerce Yield, Experience Financing):** These vaults operate on epoch-based withdrawal windows, typically monthly. Users submit withdrawal requests during a designated window, and funds are distributed at the end of the epoch.

**Illiquid Strategies (Supply Chain Finance, Private Credit):** These vaults may require longer redemption periods of 30-90 days to ensure orderly liquidation of underlying assets without impacting performance or causing fire-sale conditions.


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