Duff & Phelps’ history is rooted in utilities investing, beginning with the firm’s earliest work analyzing Depression-era utilities securities for institutional investors. With the formation of its investment management organization in 1979, Duff & Phelps continued to build upon its research-intensive heritage as the foundation of its approach to portfolio management. Duff & Phelps' long-term association with utility finance was significantly expanded with the 1987 launching of the Duff & Phelps' Selected Utilities balanced closed-end fund (now called the DNP Select Income Fund), which at the time, was the largest single initial public offering (IPO) in the United States. In 2005, Duff & Phelps expanded to a global utilities strategy, which was broadened to global listed infrastructure in 2008 to include investments in transportation and energy sector companies.
Infrastructure and utilities securities have long been valued by investors for predictable cash flows, attractive dividend yields and stability in the face of inflation, volatility and other investment risks. As governments find themselves hard-pressed to finance infrastructure projects, the role of many private sector companies is expanding into owner-operators of essential economic infrastructure in toll roads, pipelines, air and sea ports.
These long-lived assets share many fundamental attributes with traditional utilities and Duff & Phelps remains eminently qualified to analyze and invest in them.
This information does not represent an offer, or the solicitation of an offer, to buy or sell securities of the Funds. Such an offer is made only by the current prospectus.
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1.Securities distributed by VP Distributors, LLC, member FINRA and subsidiary of Virtus Investment Partners, Inc.