Whats the best thing to do

It is an Income fund, not a growth fund...

http://www.ing.com.au/Public/pdfs/L2139_pb_ip_pds2.pdf
Page 30

Investment strategy "The fund invests in a diversified mix of Australian assets with a bias towards income producing defensive assets".

In a rising market this would lag behind, in a dropping market this should be ahead of the market.

Cheers,

Dan

PS Before making an investment decision speak to your FPA registered Financial Planner.

 

And this is the reason you've only lost $5k and not $35K