Hi guys, need some views on HLB Priority Banking experience.

Also, there is this service called HL Income Management Fund (IMF) whereby the min investment is RM100k. As stated in its flyer, the fund aims to give investors with the opportunity to enjoy regular income distribution while maintaining capital stability.
There is no service charge or redemption charge.
But there are 2 fees involved:
Annual managment fee @ 0.3% pa of the Fund's NAV
Annual Trustee fee @ 0.035% of the Fund's NAV

Q:
- is this some kind of UT product? if so, then how come there is no service (commission) charge?
- will the initial values of investment ie RM100k be reduced, depending on the fund's performance?

The above questions did pose to RM, but they were answered very "discreetly", hence would like to get more neutral kind of opinions here.