“It’s not where
you fish
that matters,
it’s the fish
you catch.”

– William H. Reaves

Reaves believes that an information advantage can be created when experienced

analysts focus their fundamental, quantitative and qualitative, bottom up research

on select, complex industry sectors.

Dividend paying companies often enforce the financial discipline required by a

growing business. Identifying growing companies that also pay consistent and

increasing dividends is our life's work.

Reaves seeks to be disciplined and risk efficient. Low volatility, correlation,

R-squared and similar statistics have remained consistent for 32 years. Portfolios

are constructed to improve plan information ratios and complement more aggressive

plan managers. Reaves' portfolios may help to spend risk budgets efficiently. Critical

to our philosophy is investing in companies that usually generate above average

EPS growth.

Historically, Reaves' portfolios have provided attractive returns in improving markets

while outperforming in declining markets. Principal preservation is emphasized.