One of the bad things about being a unit trust agent is they don't know what the risks are actually taken by fund manager. Combination of stocks In the fund only published semi annually or annually. Even though published, almost all unit trust agents do not understand the stocks bought by the fund manager, (if they know, they wouldn't be unit trust agents but fund managers), they also don't have detail of underwater stocks as transactions may have been made before the publication (detail transactions are not revealed).
As unit trust agents, they are told about the objective of the fund, the market risk of the fund, and they are brain washed to believe stubbornly that dollar cost averaging strategy will win ultimately. They don't realize that the too long time taken for market to recover will build up opportunity cost too high that in many case, invest in bond fund might fare better. Although stipulated in the prospectus the risks involve, the risk taken by fund manager in anticipating for long term return might turn out to be wrong bet in volatility and changing economy, which is out of expectation of investor. (you can see that when the fund performance going down is way exceed the benchmark and never recover when market or benchmark rebound).
A previously perfectly good track record may not guarantee future performance. Although every unit trust agent learn it during their license examination, they quickly forget it when they enter into sale force. They are brainwashed to worship their unit trust product and company, convincing themselves the product they are selling is the best product, and anyone miss it should feel regret. They soon become confuse when the situation turn bad.
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