IPO - Magellan Global Trust, page-35

Actually I'll need to check my information regarding MGG and the calculation of that 1.3% - I've assumed it comes off any revenue they generate but I may be incorrect in that assumption. They might take 1.3% p/a from the turnover i.e. every dollar they invest annually yields 1.3% for them win lose or draw.

Perhaps someone who has absorbed the finer details of the prospectus could confirm this?

Apologies if my initial comments prove to be incorrect but this is one of the benefits of HC, somebody here will be able to set us straight.