Over the next decade, infrastructure investment levels will remain high, especially in the energy, utilities and railways sectors. As such, infrastructure funds are wellplaced to benefit from this trend. 

These funds, three of which are valued by the market at over £2bn, have been resilient performers over the last five years, although there has been some share price weakness of late. 

By contrast, utility stocks have suffered on the back of regulatory and political concerns – a scenario unlikely to disappear for some time.  

Furthermore, the controversial liquidation of Carillion has raised real concerns about the future of both PFI and PPP deals; these have been key to the profitability of several support services businesses.