Following the news today that Cornelian Asset Management is to be acquired by Brooks Macdonald Group, we have decided to retain our rating on the Cornelian Risk Managed range of funds. The transaction, we understand is dependent on the successful completion of a c.£30m equity placing by Brooks Macdonald as well as regulatory approvals. All being well the transaction is expected to complete in March 2020. We intend to monitor this situation carefully over the coming months and increase our interaction with Cornelian over this period.