Funds managed by JPMorgan, Pictet and BNP Paribas Asset Management are among some of the worst hit from the escalating war between Russia and Ukraine, with assets under management across a handful of equity funds exposed to the country plunging by as much as 45% over the past month.

Several asset managers have announced suspensions of their Russia focused funds in the past few days, amid sharp share price declines for holdings listed on the Moscow Stock Exchange in the wake of Russia’s invasion of Ukraine last week.