Allan Gray and UIL and Associates, page-5

"and again i mention allainz that are sitting on much larger losses, what are they doing.... maybe they feel they can't actully off load even if they wanted."
The great advantage for these fund managers is that it is OPM so the pain of a, for them, relatively insignificant dud in the corner of the portfolio is no big deal. They mark to market - the losses have already been taken as far as their investors (and the fund manager's reputation) are concerned. And unlike those who have watched the plunge and cannot bring themselves to admit the reality and are not prepared to crystallise a loss, every day for the professionals is a new day, and a new investment decision.
And unlike some on here I doubt they are blaming Sarge for the current fiasco!