Reaves Utility Income Fund Portfolio Manager Update Call
DENVER--(BUSINESS WIRE)--W.H. Reaves & Company, Inc. announced today that it will hold a conference call to discuss Reaves Utility Income Fund (NYSE MKT: UTG). Led by a member of the portfolio management team, the call is open to the public and will cover the Fund’s investment strategies, the current state of the market, the recent increase in the Fund’s monthly distributions and the portfolio management team’s investment outlook.
“…we believe the rising dividend stream over time from the Fund’s investments should more than offset the adverse near-term impact on share prices.”
|Date: February 6, 2014 at 3:00 p.m. EST||Toll Free Dial-In number: (800) 852-8156|
|Conference ID: 53681239||Replay number: (855) 859-2056|
The Reaves Utility Income Fund
The Fund seeks to provide tax-advantaged dividend income and capital appreciation through disciplined investments in well capitalized companies that provide a substantial portion of US energy and communications infrastructure.
Ron Sorenson, Portfolio Manager, recently commented on the importance of dividend growth: “by investing in companies capable of steady earnings and dividend growth, the Fund has been able to increase its dividend to shareholders seven times since its inception in February 2004.” Reacting to potential investor concern about rising interest rates on the Fund’s performance, Mr. Sorenson noted that “…we believe the rising dividend stream over time from the Fund’s investments should more than offset the adverse near-term impact on share prices.”
There were approximately $1.1 billion of total assets under management and 29.0 million common shares outstanding as of December 31, 2013.
An investor should consider investment objectives, risks, charges and expenses carefully before investing. To obtain a prospectus, annual report or semi-annual report which contains this and other information visit www.utilityincomefund.com or call 1-800-644-5571. Read them carefully before investing.
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.