Yes I have full confidence that this fund will recover nicely. In fact I view this downturn as an excellent buying opportunity which I personally have been loading up on since February.

The fund manager doesn't control the markets, but controls and adjusts the amount of various stocks that make up the fund. You wouldn't want the fund manager to invest against the long term strategy of the fund, and this fund is positioned for a bull market.

Besides that, this fund pays a nice dividend around mid December. I don't know what it will be this year but last year it was around 6%.