Sector Capital Management hired W.H. Reaves to manage $100 million in utility stocks, said William L. Gurner, Sector chief investment officer and president. He would not name the previous manager. W.H. Reaves will join eight other asset class specialist managers that run portions of Sector Capitals $1.1 billion core equity strategy, comprising style, sector and market neutral and all-cap.
Separately, Mr. Gurner said Sector Capital likely will introduce a concentrated version of its strategy, a 50-stock portfolio, early next year.