Just received my latest quarterly statement from the last distribution (BT are a bit slow ) and noticed that the management cost were significantly higher this quarter. Does anyone know the reason for this? Also, I have approximately one sixth of my holdings in the US fund (compared to the Oz fund), yet the management costs were nearly the same as the Oz fund. Does that sound right? I haven't spoken to anyone at Navra at this stage, wanted to run it past the knowledgeable folk here first to get an opinion(s).