Reaves AM launches UCITS utility fund in US
Reaves Asset Management, a US infrastructure specialist and equity manager, today announces the launch of its Irish-domiciled Reaves Utility Income Fund on the MontLake UCITS Platform ICAV, a leading independent platform for UCITS funds designed to give investors convenient access to a range of liquid, transparent and regulated investment products.
Reaves has a 41-year record of long-only infrastructure investing in highly liquid, publicly listed equities in the US utilities, communications, and energy sectors. Since the inception of its Long Term Value Strategy in 1978, the investment team at Reaves has achieved annualised returns of 12.77% vs 11.67% for the S&P 500 Index.
Commenting on the launch, Jay Rhame, CEO, Reaves Asset Management, said: "Reaves has been investing in the US utilities and related infrastructure sectors for over four decades, providing our investors with attractive, consistent returns. The long-term investment success of Reaves is a product of our proprietary research and deep understanding of the regulatory environment. The collective knowledge and experience of our investment team is utilized to select businesses with the attributes to flourish operationally and financially."
"MontLake is a leading UCITS platform in the asset management industry with a top-quality range of funds and we are delighted to launch our Utility Income Fund on this highly regulated and versatile platform. We look forward to working with the team at MontLake on this exciting new venture," added Ron Sorenson, chairman and chief investment officer of Reaves Asset Management.
Cyril Delamare, CEO of MontLake, added: "We are delighted that Reaves has selected MontLake for its recent UCITS launch. A U.S. utilities fund focused on income will further enhance the diverse offering on our platform and corresponds to what investors are looking for. We look forward to working with the team at Reaves and believe that their pedigree and expertise within their sectors offers great potential for the growth of this product."
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