Continued volatility in the financial markets is being seen as the new normal.
New Zealand's Super Fund is down about $10 billion dollars or 22 percent since the start of the year.
Super Fund chief executive Matt Whineray told Mike Hosking there's a remarkable level of volatility.
He says we've seen steeper falls than during the Global Financial Crisis and the biggest down day in the S&P 500 on Monday since 1987.
“There's quite a bit of fear driving markets at the moment and investors are taking note of the daily news flow, which investors are trying to incorporate as well."