The £126bn Prudential with profits fund is set to share £3.5bn with more than 2m of its policyholders, owner M&G Wealth has revealed.

M&G is to formally wind up its troubled £565m M&G Property Portfolio Fund and sister fund, the M&G Feeder of Property Portfolio, on 29 December.

Plymouth-based national IFA firm Continuum has reported assets under influence up 22% year on year to £1.86bn.

M&G is to suspend and wind up its troubled M&G Property Portfolio Fund and sister fund, the M&G Feeder of Property Portfolio.