Duff & Phelps Utility & Infrastructure Fund Inc.

What Duff & Phelps Utility & Infrastructure Fund Inc. does

Duff & Phelps Utility and Infrastructure Fund Inc. (NYSE: DPG) is a non-diversified, closed-end investment company that has been publicly traded since its July 2011 initial public offering. Originally named Duff & Phelps Global Utility Income Fund Inc., the fund rebranded in March 2020 to reflect a broadened mandate covering both utilities and essential infrastructure assets. The fund's investment objective is total return derived primarily from a high level of tax-advantaged dividend income and growth in current income, with secondary emphasis on capital appreciation.

Under normal market conditions, the fund invests at least 80% of total assets in dividend-paying equity securities of utility companies (electric, gas, water, telecommunications, and midstream energy) and infrastructure companies that own or operate essential transportation assets (toll roads, bridges, tunnels, airports, seaports, and railroads). The fund employs bank loan leverage to enhance common stockholders' returns and is subject to concentration limits including a 10% cap per issuer, a 60% cap per utility sector, and a 15% cap on emerging market exposure. As of July 31, 2026, sector allocation was 58.7% utility, 20.0% midstream, 17.6% infrastructure, 3.2% telecom, and 0.4% cash, with geographic exposure spanning 11 countries led by the United States (71.5%), Spain (6.2%), and Germany (5.4%).

The fund is externally managed by Duff & Phelps Investment Management Co., an SEC-registered investment adviser and affiliate of Virtus Investment Partners, Inc. (NASDAQ: VRTS), with CIO Eric Elvekrog serving as Senior Portfolio Manager. Supporting service providers include Virtus Fund Services as administrator, Computershare as transfer agent, and Bank of New York Mellon as custodian. Shares trade on the NYSE under ticker DPG at a market price of $13.90 against NAV of $15.61 as of September 10, 2026, and the fund distributes $0.07 per share monthly under a managed distribution plan, portions of which may represent return of capital.

Name

Duff & Phelps Utility & Infrastructure Fund Inc.

Legal name

Duff & Phelps Utility and Infrastructure Fund Inc.

Website

https://dpgfund.com

Company type

Public

Founded year

2011

Operating status

Operating

Short description

Public closed-end investment fund (NYSE: DPG) that invests at least 80% of assets in dividend-paying utility and infrastructure equities, managed by Duff & Phelps Investment Management Co. (Virtus affiliate), targeting total return via tax-advantaged dividend income, monthly distributions, and capital appreciation.

Ownership category

akta.pro rank

Product category

Closed-End Investment Fund (Utility and Infrastructure)

NAICS

Funds, Trusts, and Other Financial Vehicles (525), Other Investment Pools and Funds (5259)

akta.pro primary industry

Discretionary Portfolio Management (DPM) (FSAAABAC)

Keywords

• Closed-end fund
• Utility sector investing
• Infrastructure equities
• Dividend income fund
• Investment management

Headquarters

HQ city

Chicago

HQ country

United States

HQ region

North America

Offices4 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Operations, Personnel, Marketing or Sales, Others

Revenue model

1. Dividend Income: Primary revenue stream from dividends paid by portfolio companies in utility (electric, gas, water, telecommunications, midstream energy) and infrastructure (toll roads, bridges, tunnels, airports, seaports, railroads) sectors. The fund emphasizes tax-advantaged dividend income and maintains a consistent monthly distribution schedule.
2. Capital Appreciation: Secondary revenue source from growth in current income and capital appreciation of portfolio investments. The fund has outstanding bank loan to leverage the common stockholders' investment, which can amplify returns but also increases volatility.

Pricing tiers

Go-to-market motion1 record

Distribution channels2 records

Marketing channels5 records

Core offering

The Duff & Phelps Utility and Infrastructure Fund Inc. (NYSE: DPG) is a non-diversified, closed-end investment company that invests at least 80% of its total assets in dividend-paying equity securities of domestic and foreign utility and infrastructure companies. The fund pursues total return primarily through high current income (with emphasis on tax-advantaged dividends) and secondarily through capital appreciation, using bank loan leverage to enhance common stockholders' investment.

Product overview

Duff & Phelps Utility and Infrastructure Fund Inc. (DPG) is a single, non-diversified closed-end investment fund (ticker: DPG on NYSE) managed by Duff & Phelps Investment Management Co. The fund's investment objective is total return through high current income (with emphasis on tax-advantaged dividend income) and growth in current income, secondarily from capital appreciation. It operates as a stand-alone closed-end fund with an outstanding bank loan to leverage common stockholders' investment. The fund provides dividend distribution information, shareholder resources (including automatic reinvestment and cash purchase plans), SEC filings, tax documents, and governance information through its website. Related funds managed by the same investment adviser include DNP Select Income Fund Inc., DTF Tax-Free Income 2028 Term Fund Inc., and various open-end funds, ETFs, and CITs, but these are separate investment products.

Differentiator

Problem solved

Functional benefit

Products and services

• Duff & Phelps Utility and Infrastructure Fund Inc. (DPG) A non-diversified, closed-end investment company traded on the NYSE (ticker: DPG) that invests at least 80% of assets in dividend-paying equity securities of utility (electric, gas, water, telecommunications, midstream energy) and infrastructure (toll roads, bridges, tunnels, airports, seaports, railroads) companies, targeting total return via high current income (tax-advantaged dividends) and capital appreciation. Uses bank loan leverage to enhance common stockholders' investment and pays monthly distributions of $0.07 per share.
• Automatic Reinvestment and Cash Purchase Plan Shareholder service plan administered through Computershare allowing shareholders to automatically reinvest distributions and make optional cash purchases of additional shares, available to DPG common stockholders.

Quantifiable outcome

• Monthly distribution of $0.07 per share
• +2 more outcomes

Named customers10 records

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Seven partnerships are on record, tiered core.

• Duff & Phelps Investment Management Co.coreStrategic or Co-development Partner · 1 July 2011Investment adviser to the fund. A registered investment adviser with the SEC and affiliate of Virtus Investment Partners, Inc. Responsible for portfolio management and investment decisions. Has provided investment management services since the fund's inception in July 2011. The adviser has a history dating to Depression-era utility securities analysis.
• Virtus Investment PartnerscoreStrategic or Co-development PartnerParent company of administrator Virtus Fund Services and affiliate of investment adviser Duff & Phelps Investment Management Co. Virtus Fund Services provides fund administration services from Hartford, CT. Multiple open-end funds co-branded Virtus Duff & Phelps are available through Virtus.
• ComputersharecoreTechnology or IntegrationTransfer agent and dividend disbursing agent for the fund. Provides shareholder services including account information, address changes, certificate transfers, dividend information, and investor centre online access. Also provides automatic reinvestment and cash purchase plan administration.
• The Bank of New York MelloncoreTechnology or IntegrationCustodian for the fund's assets. One Wall Street, New York, NY 10005-2588. Provides safekeeping and custodial services for the fund's portfolio holdings.
• Virtus Fund Services, LLCcoreImplementation/ SI/ Consulting PartnerFund administrator providing administrative services. Located at 1 Financial Plaza, Hartford, CT 06103-4506. A subsidiary of Virtus Investment Partners.
• Ernst & Young LLPcoreImplementation/ SI/ Consulting PartnerIndependent registered public accounting firm for the fund. Provides audit services at 155 North Wacker Drive, Chicago, IL.
• Mayer Brown LLPcoreImplementation/ SI/ Consulting PartnerLegal counsel to the fund. Located at 71 South Wacker Drive. Provides legal services including corporate governance, regulatory compliance, and fund documentation.

Scale indicators4 records

Recent moves8 records

Expansion highlights4 records

Direct peers

• Gabelli Utility Trust: NYSE-listed closed-end fund (ticker GUT) managed by GAMCO Investors, investing primarily in utility and infrastructure-related equities for total return with income. Directly comparable in mandate and investor base.
• DNP Select Income Fund Inc. NYSE-listed closed-end fund (ticker DNP) advised by the same Duff & Phelps Investment Management Co., also focused on utility/income equities with monthly distributions and similar managed distribution plan. Sibling fund under Virtus Investment Partners with overlapping investment universe and identical governance structure.
• ClearBridge Energy MLP Opportunity Fund: NYSE-listed closed-end fund (ticker EMO) managed by ClearBridge Investments with focus on MLP and midstream energy securities. Overlaps with DPG's midstream sleeve and shares the utility/infrastructure closed-end fund peer group.
• Kayne Anderson Energy Infrastructure Fund: NYSE-listed closed-end fund (ticker KYN) providing concentrated exposure to midstream energy infrastructure and MLPs. Closely comparable to DPG's energy infrastructure sleeve and typical peer for valuation benchmarking in the utility/infrastructure CEF category.
• Reaves Utility Income Fund: NYSE-listed closed-end fund (ticker UTG) focused on utility equities for high current income with monthly distributions. Closest direct competitor in mandate, structure, and target investor (income-oriented) and frequently used as a comparable for DPG.
• Tortoise Energy Infrastructure Fund: NYSE-listed closed-end fund (ticker TPZ) investing in energy infrastructure including MLPs and pipeline companies. Overlaps meaningfully with DPG's midstream and infrastructure sleeve and shares the closed-end utility/infrastructure peer group.
• First Trust New Opportunities MLP & Energy Fund: NYSE-listed closed-end fund (ticker FPL) focused on MLPs and energy infrastructure companies. Comparable to DPG's energy/infrastructure holdings with monthly distributions and similar retail income-oriented positioning.
• Tortoise Midstream Energy Fund: NYSE-listed closed-end fund (ticker NTG) focused on midstream energy MLPs and infrastructure. Directly comparable to DPG's ~20% midstream allocation and similar utility-adjacent exposure with monthly distributions.

Broad incumbents

• Virtus Total Return Fund Inc. NYSE-listed diversified closed-end fund (ticker DCA) also advised under the Virtus Investment Partners umbrella. Same parent company, same fund services infrastructure, but diversified equity mandate rather than utility/infrastructure focus.

Emerging players

• Adams Natural Resources Fund: NYSE-listed closed-end fund (ticker PEO) focused on natural resources equities. Partial overlap with DPG through energy exposure, but with a broader commodities mandate rather than utility/infrastructure-specific.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat3 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/duffandphelpsim
• LinkedInlinkedin.com/company/duff-&-phelps-investment-management-co.

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Duff & Phelps Utility & Infrastructure Fund Inc.