IPO - Magellan Global Trust, page-36

@SuperWealthy
yes, those fees are paid "win draw or lose"

there's a copy-paste:

Management and administration fees are 1.35%* per annum and consist of the following components: Management fee: 1.25% per annum Administration fee: 0.10% per annum

The management and administration fees are calculated daily based on the value of the Trust on that Business Day. An estimate is accrued daily in the NAV per Unit and the fees are payable monthly in arrears from the assets of the Trust.