Staff working in the UK fund management industry have smashed through an ambitious £2m fundraising target for the charity Cancer Research, a target that had already been doubled from £1m in June.

More than 100 money managers pledged to complete sponsored challenges at the start of the year, including an abseil down London's 33-storey Broadgate Tower and a midnight walk around the City. The founder of Cascaid, the charity set up to organise the industry's fundraising efforts, said the £2m target had been beaten on Monday night.