There are a number of reports detailing investor concerns surrounding market forces that will impact fund performance in 2019/2020. The most common (66.3%) being that high market valuations will affect manager ability to meet target returns as increased competition for assets inflates prices. However, the definition of infrastructure investments will need to expand and opportunities to enter secondary markets utilised.  An increasing number of investors (56.1%) also consider rising interest rates to be a threat to target returns, if not to the same extent as other asset classes. Weakening of economic growth in the event that the US and China enter a trade war is also a concern for 33.7% of investors. However, infrastructure could also benefit in this event having shown ability to outperform other classes when the broader economy is weak.