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  • SEC-registered investment advisor founded in 1961
  • Manager of equity portfolios since 1978
  • Specializes in the stocks of utility and infrastructure-related companies
  • Portfolio managers are supported by a highly experienced team of investment analysts

Investment Philosophy

Reaves Asset Management believes that companies’ characteristics drive their investment outcomes. Reaves favors companies which possess some, or all, of the following characteristics:

  • Operate in businesses with high barriers to entry
  • Face limited competition / higher regulatory scrutiny
  • Consistent, sustainable cash flow generation
  • Profitable in both up and down economic cycles
  • Dividends viewed as an important component of capital allocation

Investment Process

The Reaves research process begins with a thorough qualitative assessment of business fundamentals, including market and regulatory structures, competitive environments, and barriers to entry. Analysis is focused on identifying high quality assets with the ability to generate durable and growing cash flow streams. Companies that fit these investment criteria are then scrutinized by management quality, capital allocation, and governance. Valuation analyses are performed in the context of industry, market, and idiosyncratic factors. Individual analyst recommendations are thoroughly vetted for merits and risk via internal peer review. Ultimately, after vigorous internal debate, the firm’s portfolio managers strive for a consensus-driven approach to security selection.

To learn more about the Fund’s advisor, Reaves Asset Management, click here to go to the Reaves Asset Management website.

Our Team

To learn more about the Reaves Asset Management Team click here.

UTG Portfolio Managers

John P.Bartlett, CFA

President, Portfolio Manager, Analyst

Timothy O.Porter, CFA

Vice President, Chief Investment Officer, Portfolio Manager, Analyst

Paralel Technologies LLC
1700 Broadway, Suite 1850
Denver, CO 80290


[email protected]


The Reaves Utility Income Fund is a closed-end fund and closed-end funds do not continuously issue shares for sale as open-end mutual funds do. Since the initial public offering, the Fund now trades in the secondary market. Investors wishing to buy or sell shares need to place orders through an intermediary or broker. The share price of a closed-end fund is based on the market’s value. The Fund’s investment objective is fundamental and may not be changed without the vote of the Fund’s shareholders.

An investor should consider the investment objectives, risks, charges and expenses carefully before investing. Please click on the respective link to obtain an  annual report or  semi annual report which contains this and other information, or call 1-800-644-5571. Read them carefully before investing.

Closed-end Funds: Not FDIC Insured No Bank or Other Guarantee May Lose Money

Paralel Distributors LLC: FINRA Member Firm

Paralel Distributors LLC is a wholly-owned subsidiary of Paralel Technologies LLC. Neither are affiliated with Reaves Asset Management.

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