JP Morgan and Liontrust have suspended funds exposed to Russia following the invasion of Ukraine.

Liontrust has suspended dealing in the Liontrust Russia Fund.

The fund manager said it had “not taken this action lightly” but believed that the suspension was “in the best interests of all investors given the events of the past few days”.

It made the decision following discussions with the fund’s depositary.

JP Morgan Asset Management (JPMAM) has also suspended the trading of three funds as a result of the war.

The asset manager’s Russia Equity Fund and two Emerging Europe funds have been suspended from midday yesterday.

JPMAM said it had suspended trading in the funds due to the “escalating conflict” between Russia and Ukraine as “local market trading conditions are not currently operating as they normally would do”.

The suspensions follow the closure of the Moscow Stock Exchange and temporary ban on foreign investors selling local Russian securities yesterday.

Both firms said the suspensions will be reviewed on an ongoing basis.