I suppose a listed fund like Forager has a fairly long term,...

I suppose a listed fund like Forager has a fairly long term, conservative clientele who eschew posting on Internet forums and the like. But surely I can’t be the only one that is concerned where this is headed? From 2.08 just over 6 months ago to 1.37 today and an NAV in freefall.
Is it possible for a fund manager and his team to lose their ability overnight? Have long term investors in other funds ever seen this kind of drop before? Especially with a buy and hold, supposed value investing approach? Bear in mind this drop includes a fund that is approximately 30 percent cash, which brings home  how bad this has become. It is hugely disappointing because it could take years to get back to where it was just 6 months ago.
I guess ultimately I am just venting. We have waited out tough years before and will do so again. Everything I have read has really brought home how important it is to stick through the tough times and wait for the turnaround. I would imagine the forager reputation has taken a battering through this.