Assets for the funds arm of Royal London have broken through the £100 billion mark for the first time, having doubled over the past five years, with the group's chief executive hailing it as a significant milestone.

Royal London Asset Management's total assets rose to £101 billion as of September 30, the firm said in its third-quarter update on November 4. That compares with £83.1 billion at the end of September 2015 and is a 20% rise from the total at the end of December 2015.