Reaves Utility Income Fund Initiation Of Breakpoint Fees News provided by Share this article Share this article DENVER, May 11, 2021 /PRNewswire/ -- The Reaves Utility Income Fund is pleased to announce the initiation of a breakpoint in fees. The advisory and administrative fee on gross assets greater than $2.5 billion will be 0.765%, down from the current rate of 0.84%. The reduction is in line with the Fund's goal of providing a monthly distribution and competitive long-term total returns while being amongst the lowest cost funds in its peer group. Tim Porter, Chief Investment Officer of Reaves Asset Management and co-Portfolio Manager of the Reaves Utility Income Fund, remarked, "Successfully investing the Fund's assets has allowed us to increase the distribution 11 times while never having a return of capital on an annual basis. The breakpoint is another way to reward the owners of the Fund."