Total net inflows in the first nine months of this year at Prudential fund manager M&G have exceeded the total for last year, itself a record, driven by institutional mandates and strong performance in retail funds.

Net fund inflows at M&G nearly doubled to £5.1bn (€7.6bn). External funds under management, representing a quarter of M&G's £168bn in assets, rose by 5% to £42bn over the quarter.