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Reaves Utilities and Energy Infras Instl (RSRFX)

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Reaves Utilities and Energy Infras Instl

Advisors Inner Circle Fund II (Reaves)P.O. Box 219009Kansas City, MO 64121-9009
Management Information
Ronald J. Sorenson,Lead Manager since December 21, 2004
Chairman, Chief Executive Officer, Chief Investment Officer and Portfolio Manager Ronald J. Sorenson joined W. H. Reaves & Co. in 1991. Mr. Sorenson was elected Vice Chairman and Chief Executive Officer in September, 2005 after previously holding the position of Chief Investment Officer. He is also responsible for portfolio management and development of private client accounts. Before joining W. H. Reaves, Mr. Sorenson was a co-owner and Portfolio Manager of an investment advisory firm, PVF Inc. He was also Director of the BMC Fund Inc., a closely held mutual fund. He has more than 31 years experience in the investment industry and has served as Chairman of the Board for American Life Insurance Company of New York. For nine years Mr. Sorenson lived in London, England where he was engaged, on behalf of private investors, in managing investments in the United States in both listed securities and private equity. Before moving to London, Mr. Sorenson practiced public accounting with Arthur Young & Co. where he gained experience with companies in a variety of industries, including energy and technology. Mr. Sorenson received an undergraduate degree from Stanford University and an MBA degree from Columbia University, where he concentrated in Accounting and Finance. He is a Certified Public Accountant. Mr. Sorenson is responsible for portfolio strategies, portfolio construction and risk evaluation at Reaves Asset Management. He currently manages the firm's closed-end fund (Reaves Utility Income Fund) and the open-end mutual fund (Reaves Utilities and Energy Infrastructure Fund).
Morningstar Style Box
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Morningstar Category
While the investment objective stated in a fund's prospectus may or may not reflect how the fund actually invests, the Morningstar category is assigned based on the underlying securities in each portfolio. Morningstar categories help investors and investment professionals make meaningful comparisons between funds. The categories make it easier to build well-diversified portfolios, assess potential risk, and identify top-performing funds. We place funds in a given category based on their portfolio statistics and compositions over the past three years. If the fund is new and has no portfolio history, we estimate where it will fall before giving it a more permanent category assignment. When necessary, we may change a category assignment based on recent changes to the portfolio.

Fund Overview

Fund FamilyReaves Select Research
Net Assets48M
YTD Return8.31%
Morningstar Rating★★★★
Inception DateDec 21, 2004

Fund Operations

Last Dividend0.02
Last Cap Gain0.00
Holdings Turnover84.00%
Average for CategoryN/A

Fees & Expenses

ExpenseRSRFXCategory Average
Annual Report Expense Ratio (net)1.30%1.38%
Prospectus Net Expense Ratio1.51%N/A
Prospectus Gross Expense Ratio1.51%N/A
Max 12b1 FeeN/AN/A
Max Front End Sales LoadN/A5.36%
Max Deferred Sales LoadN/A1.00%
3 Yr Expense Projection477N/A
5 Yr Expense Projection824N/A
10 Yr Expense Projection1,802N/A