Seed funding for a couple of landmark infrastructure investments by Colonial remains on the balance sheet of Commonwealth Bank, in one case more than 15 months after the bank tipped in the capital.In an investor briefing on the bank's wealth management business yesterday Grahame Petersen said the bank had sold down two thirds of the original $1.25 billion investment in Anglia Water Group in Britain.At December 2007 CBA valued its holding its AWG at $832 million and said it had sold 32 per cent of the original investment in AWG to client funds managed by Colonial.The bank is finding investors, though slowly, for its more recent investment of  $614 billion, invested in United Utilities Electricity Limited, a business since renamed Electricity North West. The utility provides electricity to parts of northern England, including Manchester.At December 2007 CBA still held $414 million of that directly, and no more appears to have been sold in the five months since.The sell down of the ENW investment to date has been into two Colonial funds, the Wholesale Infrastructure Income Fund and the Global Diversified Infrastructure Fund.Petersen said CBA sold the infrastructure investments at a slight premium to the bank's cost of capital.Petersen said the bank would continue to provide seed funding to new funds, which appears to apply to all wholesale funds created by the bank. It isn't clear to what extent the seed funding relates to managed funds over which management has investment discretion, and the extent to which the investment draws on the balance sheet of the bank.Colonial established 18 new funds last year and expects to create another 12 funds this year.Warwick Negus, chief executive of Colonial First State Global Asset Management, said the group was the largest owner and manager of shopping centres in Asia, and suggested that as the group exploited investment opportunities in this booming sector it would continue to be so.