Merrion Investment Managers

I bought into two funds with Rabodirect about 18 months ago.
these were oppenhiem growth fund and oppenhiem managed fund. They are down 40% and 33% since. However they have been taken over by Merrion Investment managers since October 2008. When i looked into Merrion I see that they are owned by Landsbanki an Icelandic bank. Should I be worried ? The fund perfomance is probably par for the course at the moment , its the Icelandic connection Im worried about

Merrion management bought the shareholding back from Landsbanki last month. See [broken link removed].

Sweet deal. I believe they sold to Landsbanki at a far higher price than they bought back, due to prevailing market conditions.

Thanks for the reply , now for possibly a stupid question , if a fund manager went bankrupt does that mean all the money in funds they manage is gone as well ? Just trying to decide whether I cash in and consolidate my losses or hang in there for the long haul ...