The Financial Conduct Authority sent a shockwave across the asset management industry in February 2015, revealing it was embarking on an extensive review of the UK market to ensure institutional and retail investors are getting value for money.

One year on, the industry will be hoping the FCA's interim chief executive Tracey McDermott's keynote address on the opening day of the annual Pensions and Lifetime Savings Association investment conference, on March 9, sheds some light on what their future holds. Her speech, which has been billed as an update on the market study, will ask 'is the asset management market working for pension schemes and their members?'.