Hi there,
Don't go pulling your money out yet before you explore more options. I also set up an Evergreen fund in July 2007 (when the downturn in the fund began, worst timing ever!) but only invested €5,000 as I'm willing to take a risk. I also payed into it every month. In March I went in to speak to the bank because I could bear watch anymore of my money disappear and after a lengthy discussion I did 2 things:
1. I moved around the way the fund was invested. It was very easy: 29% was in property - property is still falling so I took everything out of that and put it in bonds because government bonds are guaranteed and tend to go up when property/shares go down in a sort of see-saw effect.
2. I stopped payment for 2 months until things settled a little without losing my bonus. I have now restarted it but pay in a much smaller amount every month since buying low is the way to go and markets are cyclical so they will eventually rise again.
I have already seen an improvement is what my fund is worth. Basically I have put in €7,800 to date (initial lump sum plus monthly payments) but it was only worth €5,100 in March. After only 2 months it is worth over €200 more so at least I can see it improving even if it does take time. You can move around the profile of your investment anytime you want, changing the percentages in each section depending on what is going up and what is going down.
It does sicken me that the bank get a percentage to manage the fund but essentially haven't managed it well at all, I have to go in a change the percentages myself but now that I know that I'm happy to do it.
At this point I have a few more years before I intend to use the money and I am still hopeful of recouping my loss by keeping an eye on everything so if time is on your side hang in there. Bonds are going up and property is going down still so that is a good place to start. Shares are already improving slightly and if you have bought low well then things can only get better!
Thats my story anyway, best of luck!