Reaves Utility Income Fund Overview
Pro stress-test →Reaves Utility Income Fund (NYSE: UTG) is a diversified, closed-end fund that has delivered tax-advantaged monthly income to shareholders since its inception in February 2004. The Fund invests at least 80% of its total assets in dividend-paying equity and fixed-income securities issued by companies within the utility industry in addition to other infrastructure segments. Since inception, UTG has distributed more than $1.8 billion in cash to shareholders, increasing its distribution 14 times, making it one of the longest-running monthly distributions among closed-end funds.
Strategic Profile
Pro stress-test →Managed by Reaves Asset Management, a firm with over four decades of experience investing in the utility sector, UTG focuses on delivering income and total return to shareholders from the dividends and long-term capital gains of companies with strong cash flows, durable competitive advantages, and growing dividends. The fund employs a fundamental, bottom-up investment approach to identify income-generating opportunities in utilities and related infrastructure sectors.
Competitive Landscape
Pro stress-test →UTG competes in the closed-end utility fund space against other income-focused vehicles such as Nuveen Utilities ETF, utilities-focused mutual funds, and other closed-end sector funds. The fund's competitive advantage derives from Reaves Asset Management's specialized utility expertise, long track record of distributions, and tax-efficient structure targeting income-seeking investors.
Industry Context
Reaves Utility Income Fund operates in Closed-end utility funds.
Key facts
Founded: 2003 · Headquarters: Denver, Colorado · Employees: N/A · Revenue: N/A · Market cap: N/A