First Sentier Investors (FSI), managers of infrastructure assets on behalf of institutional investors in the UK with in excess of £1.2 billion of equity, including an investment in Anglian Water, has told the Competition and Markets Authority it is “disappointed and concerned to see the CMA reversing key aspects of its Provisional Findings”.

Pension funds group IFM Investors (UK) Ltd, one of the largest infrastructure investors globally, is warning the Competition and Markets Authority of its doubts over the stability and long-term attractiveness of the UK water sector.

UK pension funds investors GLIL Infrastructure LP (GLIL) has warned the Competition and Markets Authority that investment in UK regulated utilities is “perilously close to the edge …leading to a negative cycle of low investment, poor returns, inability to attract and motivate strong management teams."

Dalmore Capital has told the Competition and Markets Authority that there is “a real sense of nervousness from our UK-based investors in investing in UK regulated utilities”.

Canada Pension Plan Investments, the largest direct investor in infrastructure globally, is warning that over recent years - particularly in the period following the launch of the PR19 price review- there has been a marked deterioration in the attractiveness of UK water as an investment proposition.

In the latest stage of the PR19 appeals inquiry, iCON Infrastructure LLP has written to the Competition and Markets Authority (CMA ) saying it is “deeply concerned” about “the highly aggressive posture adopted by Ofwat in response to the redeterminations generally, including threats of judicial review following the CMA’s Provisional Findings.”