Reaves Asset Management has launched its Irish-domiciled Reaves Utility Income Fund on the MontLake UCITS Platform ICAV.
This is an independent platform for UCITS funds, created to provide investors with convenient access to a variety of liquid, transparent and regulated investment products.
The fund will be actively managed, with a focus on achieving positive total returns across a three to five-year time period. A wide range of share classes, including USD, GBP, CHF and Euro will also be available be available to investors.
The US infrastructure specialist and equity manager believes that investors will benefit from Reaves Asset Management’s 41-year record of long-term investing in highly liquid, publicly listed equities in the U.S. utilities, communications, and energy sectors. Since the creation of its Long Term Value Strategy in 1978, the company’s investment team has achieved annualised returns of 12.77 percent.
Jay Rhame, chief executive, Reaves Asset Management, argued that the long-term record and the level of expertise the company had with U.S utilities meant it would remain attractive to investors.
He said: “Reaves has been investing in the U.S. 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.”
Ron Sorenson, chairman and chief investment officer of Reaves Asset Management believes that the fund would benefit from the versatility of MontLake’s platform.
He said: “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.”
Cyril Delamare, chief executive of MontLake, was pleased to have the opportunity to further diversify the platform’s offering.
He said: “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.”
Reaves Asset Management was founded as an investment research boutique in 1961. It has been managing institutional equity portfolios since 1978 and is now responsible for $3 billion assets under manager under management. It is 100 percent employee owned, and has 22 staff, including an investment team of eight.
