The industry funds are freaking out due to the significant portion of their funds being held in unlisted assets, that have not been marked to market yet and are still sitting in their balance sheets at pre-correction values.

Thus, unit prices are likely to be overstated.

With thousands, perhaps millions of their members moving from so-called 'balanced' investment options (i.e. high growth), to cash, all at once, the outcome will be catastrophic for those members who are still invested.

The market will now expose industry funds' misleading and deceptive conduct. Be sure your sins will find you out in the end...

I hope I am wrong.