Duff & Phelps Utility and Infrastructure Fund (NYSE: DPG) is a closed-end management investment company that seeks to provide shareholders with a high level of current income and the potential for capital appreciation. The Fund primarily invests in equity and equity-related securities of companies engaged in the utilities and infrastructure sectors. Its portfolio is composed of businesses that operate, maintain or develop essential infrastructure assets, including regulated electric, gas and water utilities, transportation and communication networks, and energy infrastructure such as pipelines and midstream facilities.
Launched in 2004 by Duff & Phelps Investment Management Co., the Fund employs fundamental, bottom-up research to identify companies with stable cash flows, strong balance sheets and attractive dividend yields. It generally focuses on issuers that benefit from regulated rate frameworks, long-term contracts or concession arrangements, which aim to provide predictable revenue streams. The Fund may also invest in master limited partnerships (MLPs) and real asset companies that support the energy and utility value chain.
While the majority of the Fund’s investments are in North American issuers, it maintains the flexibility to allocate assets globally, including Europe and select emerging markets where infrastructure modernization and regulatory reforms can drive growth. The investment team leverages Duff & Phelps’s global research platform and sector specialists to monitor regulatory developments, assess credit quality and identify opportunities created by the transition to cleaner energy sources and digital infrastructure enhancements.
The Fund is managed by a dedicated team of infrastructure and utilities professionals at Duff & Phelps Investment Management, an affiliate of global advisory firm Kroll. These portfolio managers combine sector expertise with active risk management and position sizing strategies to navigate market volatility. DPG is designed for income-oriented investors seeking exposure to a diversified portfolio of utility and infrastructure equities supported by a seasoned investment organization.
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