The insurer parent of M&G Investments has warned that the fund manager's revenues will remain under pressure for the rest of the year, after its operating profits fell 10% in the first half on the back of redemptions by retail investors that drove net outflows of £7 billion – as much as over the whole of last year.

Prudential said in its half-year results on August 10 that the first six months of the year had provided many challenges including "a further decline in interest rates to historic low levels, higher investment market volatility" and "the continuation of net outflows at M&G".