Disclosure: Growth of $1,000

This chart illustrates the performance results of a hypothetical $1,000 investment made in the Long Term Value Strategy (Reaves’ ERISA Composite¹) on January 1, 1978 versus the S &P 500 Index through the most recent month end (updated when the data is available).  All values are net of fees and in U.S. dollars. The chart is for illustrative purposes only and is not intended to imply any future performance of the strategy.
Reaves’ ERISA Composite ended December 20, 2019.
An investor cannot invest directly in an index.
Past performance is no guarantee of future results.
All investments involve risk, including loss of principal.

Fees: Net performance reflects the deduction of advisory fees which are described in detail in Reaves’ ADV Part 2A. For a copy of Form ADV Part 2A and its fee schedules, please contact info@reavesam.com or your financial professional.

Please see the Endnotes/Disclosures page for additional information and definitions.