Should I use my managed funds to pay off my reverse mortgage?

Q.

I have a reverse mortgage of around $31,000 on my home which is mortgage free apart from this loan. I have $45,000 in managed funds. Should I pay off the reverse mortgage from these managed funds?

The managed funds provide diversification and it also seems a pity to redeem them when the market is at a low point. I suggest you leave things be for the time being and re-assess your position when the market rebounds.