French money manager Exane suspends sub-fund on coronavirus outbreak

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March 25 (Reuters) – French money manager Exane Asset Management said on Wednesday it froze trading on one of its sub-funds due to the coronavirus outbreak.

Several funds investing in equities and property portfolios across Europe and UK have already suspended trading in response to the global shock to markets caused by the pandemic.

Exane said its board decided to suspend the Exane Integrale sub-fund on March 17 as the valuation of a number of derivatives instruments traded over the counter and held within it shifted significantly from their theoretical value.

Paris-based Exane Asset Management, founded in 2001, manages a number of equities funds and managed assets worth 3.4 billion euros as of June 2019, according to its website.

Reporting by Bhargav Acharya in Bengaluru; Editing by Ramakrishnan M.