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  As Barry says much of these movements are due to the way that investment banks manage their proprietary holdings and to a lesser extent some of their client money - most of these funds are what is known in trade (by the way I work for one the leading investment management houses in the City) as short only funds. These types of funds are looking to make money on the short term differences/movements in pricing (often using computer models and tools to take advantage of tiny price movements in milliseconds). The firm I work for manages lots of savings and pension funds and we are a traditional "long only" house - where our fund managers are looking for long term growth prospects to generate real returns for you on your pensions. As an aside we were one of the only houses in the City to loose nothing from both the collapse of Lehman Brothers or the from the mortgage backed securities debacle.
  
  So to echo Barry's advice hold your nerve and hold onto your investments, after all all these things go in cycles and over the long term stocks and shares have shown higher than inflation levels of appreciation.

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