Three quarters of influential investment chiefs polled by Financial News expect fees to fall in the next 12 months as the industry feels the squeeze from regulators and investors to be more transparent.

The poll of chief investment officers from leading asset management firms found that 74% expect fees to come down in 2017, while none said they thought fees would increase. The remaining 36% expected no change. The findings come as the industry prepares for what could be the biggest overhaul in its history, with the Financial Conduct Authority’s wide-reaching review of UK asset managers and investment consultants. Its aim is to improve transparency, competition and value for money.