Hi I am wondering if someone out there can help me here regarding calculation of management fees. I understand that each fund has management fee ranging between 1.5%-4%, which is the bit I understand. But how is it actually taken out of the fund? I am looking at Colonial First State Imputation Fund. The statement says: Opening balance 583.1649 units value $2342.40 distribution 5.9302 units value $ 24.84 total 589.0951 units value $2462.59 Total fees deducted $10.49 indirectly I called Colonial First State and they told me that the management fees were calculated daily on the unit balance but could not tell me how the actual amount was taken out. Is the actual management fee hidden in the difference in the buy and sell unit price or is there some other mechanism that they deduct fees? Also if the fees have been deducted, can I put this on to my tax return form?