(Bloomberg) --

Exane Asset Management has suspended dealing in one of its funds, citing fallout from the spread of the deadly coronavirus.

The French money manager said the valuation of a number of derivatives traded over the counter and held in its Exane Integrale Fund has “shifted significantly from their theoretical value,” leading it to freeze the money pool, according to a statement on its website on Wednesday.

“Under these exceptional circumstances, the board of the SICAV has decided on 17 March 2020 to suspend the determination and publication of the net asset value as well as the redemptions and subscription orders to preserve the equal treatment of unit holders,” the Paris-based firm wrote in the statement.

Exane joins a string of funds across Europe in suspending funds in response to a global market rout caused by the pandemic. The sell-off has triggered a liquidity squeeze and made it harder for money mangers to value their underlying holdings.

Founded in 2001, Exane managed about 3.4 billion euros ($3.7 billion) at the end of June, according to its website. The firm manages a number of equity funds betting on rising and falling shares.

Other Fund Suspensions:

• Daily dealing property funds in the U.K. have locked in more than 11 billion pounds of investors cash
• Axiom Alternative Investments suspended a 110 million-euro credit fund last week
• Five high-yield and emerging market bond funds run by the asset management arm of Danish lender Jyske Bank have shut their doors to investors
• At least 30 bond funds in Sweden have suspended trading

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