New Jersey infrastructure manager launches Ucits fund

A New Jersey-based asset manager has launched a Ucits fund offering exposure to US infrastructure via equities.

Reaves Asset Management, a specialist investor in electric, gas and water utilities, has launched the Reaves Utility Income Fund from Ireland.

The firm, which has $3 billion (€2.7 billion) in assets under management (AUM), is distributing the fund with US dollar, sterling, Swiss franc and euro share classes on the MontLake Ucits Platform ICAV, which is also based in Ireland.

Jay Rhame, chief executive of Reaves Asset Management (pictured), said Reaves has been investing in the US utilities and related infrastructure sectors for over four decades.

Cyril Delamare, chief executive of the $8 billion in AUM MontLake platform, said a US utilities fund focused on income corresponded to what investors were looking for.

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