There are growing concerns that more property funds will be suspended after Prudential halted dealing in its UK Property Fund late on Friday.

Fund manager M&G has temporarily suspended dealing in its M&G Property Portfolio Fund and feeder fund after a sharp rise in investor withdrawals.

Fidelity has recruited experienced investment professional Anne Richards as chief executive from rival M&G where she was CEO of M&G Investments.

Prudential today announced plans to demerge M&G from Prudential plc in a move that will result in two separately-listed FTSE 100 companies, each with a ‘distinct’ investment prospects.