Reaves Utility Income Fund

Overview

Reaves Utility Income Fund is a closed-end fund that aims to provide a high level of after-tax income and total return, primarily through tax-advantaged dividend income and capital appreciation. The fund invests at least 80% of its total assets in dividend-paying common and preferred stocks and debt instruments of companies within the utility industry, including electric utilities, telecommunications, water, and gas distribution. Up to 20% of the fund may be invested in securities of companies in other industries. The fund employs a combination of quantitative and fundamental analysis with a bottom-up stock-picking approach to create its portfolio. Since its inception on February 24, 2004, the fund has distributed over $1.8 billion in cash distributions to shareholders. The fund's investment objective is fundamental and may not be changed without the vote of the fund's shareholders. Investors should consider the investment objectives, risks, charges, and expenses carefully before investing. Please read the prospectus carefully before investing or sending money. 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. An investor should consider investment objectives, risks, charges, and expenses carefully before investing. To obtain a prospectus which contains this and other information, visit the following website: www.utilityincomefund.com or call 1-800-644-5571. Read the prospectus carefully before investing or sending money. Qualified dividends are defined as dividends from shares in domestic corporations and certain qualified foreign corporations which have been held for at least a specified minimum period of time, known as a holding period. A nonqualified dividend is one that doesn't meet IRS requirements to qualify for a lower tax rate. These dividends are also known as ordinary dividends and are taxed as ordinary income. Long-term capital gains tax is a tax on profits from the sale of an asset held for more than a year. The tax rate on such a gain is lower than that of a short-term capital gain held for less than a year. Section 199A allows taxpayers to deduct 20 percent of their qualified REIT dividends. Please consult your tax advisor about the impact of qualified, non-qualified dividends, Section 199A, and capital gains. 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. © 2024 - Paralel Technologies LLC - All rights reserved.

Investment Focus

• Investors should consider the investment objectives, risks, charges, and expenses carefully before investing. Please read the prospectus carefully before investing or sending money. 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

Portfolio Companies