jutamind, I do not know how well versed you are with unit trust, but the basic should be known by everybody investing in unit trust.
Unit trust is NOT stocks, thus cutting loss strategy is not very affective.
As mentioned before, once you purchase a fund, you instantly made a loss of 5% - 6.5%, so if you sell when market is unfavorable, you make greater loss.

During times of uncertainty though, we could always try to take the opportunity to average down our cost. This move will not only average down our cost, but if the fund rebounds in the future, you will increase your margin. Isn't this strategy better than cutting 'loss'? Remember, you don't lose if you don't sell