Utility, energy & communication insights
from four decades of intelligent investing
At Reaves Asset Management, we believe that investing in the critical non-discretionary sectors of the economy provides a solid foundation for long-term wealth creation. For more than four decades, our defensive, income-oriented strategy has produced a return stream that captured 72% of the market’s upside and avoided 43% of the downside.1 We are passionately focused on finding stable, durable companies with the characteristics to deliver steady growth in earnings and dividends and welcome the opportunity to share our insights with you through our blog.
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1Reaves performance data is the Reaves Long Term Value ERISA Composite and all data is net of fees. The Reaves ERISA Composite reflects the dollar-weighted return of all corporate ERISA pension accounts with assets of at least $1,000,000 under management for all periods presented (the minimum was $900,000 during the period 08/31/10-06/22/12). Returns are time-weighted and include the reinvestment of all dividends and other earnings, net of commissions. The ERISA Composite does not reflect all of Reaves’ assets under management. Reaves ERISA Composite ended on 12/20/19.
Reaves’ Long Term Value Strategy seeks a high risk-adjusted total return. The strategy tends to be invested in relatively larger companies with strong balance sheets, good cash flow and a history of dividend growth. Core positions are accumulated in financially strong, high-quality companies and generally have the following characteristics: strong management, above industry-average growth rates, large/mid-market capitalization and low price-earnings multiples.
Net performance reflects the deduction of advisory fees which are described in detail in Reaves’ Form ADV Part 2A. Please contact us at email@example.com to obtain Form ADV Part 2A and for more information about Reaves Asset Management.
Reaves Asset Management is an investment adviser registered with the Securities and Exchange Commission under the Investment Advisers Act of 1940. Reaves is a privately held, independently-owned “S” corporation organized under the laws of the State of Delaware.
The information provided in this blog does not constitute, and should not be construed as, investment advice or recommendations with respect to the securities and sectors listed. Investors should consider the investment objective, risks, charges and expenses of all investments carefully before investing. Any projections, outlooks or estimates contained herein are forward looking statements based upon specific assumptions and should not be construed as indicative of any actual events that have occurred or may occur.
Upside Market Capture measures the manager’s overall performance to the benchmark’s overall performance, considering only quarters that are positive in the benchmark. Downside Market Capture measures the manager’s overall performance to the benchmark’s overall performance, considering only quarters that are negative in the benchmark.
Past performance is no guarantee of future results.
All investments involve risk, including loss of principal.
Important Tax Information: Reaves Asset Management and its employees are not in the business of providing tax or legal advice to taxpayers. Any such taxpayer should seek advice based on the taxpayer’s particular circumstances from an independent tax adviser.