Mutual fund boards are the champions of shareholders. But boards and their trustees are still not well understood by investors or their financial advisors. We spoke with three longstanding trustees of the Aquila Group of Funds—John C. Lucking, Thomas A. Christopher, and James A. Gardner—during the September, 2014 quarterly board meetings to learn more about what they do.
Tom Christopher and James Gardner
What do mutual fund board trustees do—and why should we care?
TC: We oversee the management and operations of each Aquila fund on...
In the event that 2014 capital gain distributions are declared, the funds are anticipated to have a record date of December 30, 2014, an ex-date of December 31, 2014, a payable date of December 31, 2014, and a reinvestment date of December 31, 2014.
Estimates are subject to change depending on market conditions, board approvals, and other circumstances. This report is the result of estimates and is based on information available as of October 31, 2014. The amount and character of distributions cannot be determined until the anticipated record dates.
Aquila Three Peaks Opportunity Growth Fund was included in a “Category Kings” report by The Wall Street Journal for the one-year period ending September 30, 2014. The Category Kings report recognizes the top 10 performing funds, based on total return, in 22 Lipper categories for the one-year period. Aquila Three Peaks Opportunity Growth Fund class Y (ATGYX) was listed at #1 in the Lipper Midcap Core equity category, out of 378 open-end mutual funds. During this period, the Fund generated a total return of 21.8% compared to the Lipper Midcap Core category average of 11.9% and the Russell...
Your State Requires some Demonstration that You’ve been in Contact with Us
“Escheatment “, as described on the SEC web site, is the process by which a state becomes the owner of an account held by a financial institution that is considered to be abandoned or unclaimed under circumstances that may include a period of inactivity.Generally, activity may be demonstrated by contact with the financial institution holding the account, and in some states, is not demonstrated solely by the existence of an automated investment program.
On a regular basis, to establish contact and maintain the active status...
We believe that one of the benefits of having a portfolio manager and analyst located in the market in which Aquila Tax-Free Trust of Oregon invests, is the opportunity this provides to closely follow public policy developments and legislation, in addition to the financial condition of municipal bond issuers.
Developments related to the Public Employee Retirement System (PERS) provide an example. In 2013, the Oregon Legislature enacted PERS reforms that reduced the cost-of-living adjustment for all retirees, and eliminated tax remedy payments for beneficiaries who do not live in Oregon and are therefore not subject to Oregon state income tax....
The IRS has announced that “beginning as early as January 1, 2015, you can make only one rollover from an IRA to another (or the same) IRA in any 12-month period, regardless of the number of IRAs you own”.
Aquila Tax-Free Fund For Utah invites you to your Fund’s meeting of shareholders.
The 2014 Annual Shareholder Meeting will be held in Salt Lake City, UT on Tuesday, October 28 at 8:30 a.m. at the Little America Hotel, Ballroom C, located at 500 South Main Street, Salt Lake City, UT. A buffet breakfast will be served prior to the meeting.
There will also be a Shareholder Outreach Meeting in St. George, UT on Wednesday, October 29 at 2:00 p.m. at the Dixie Center, Entrada Room, located at 1835 Convention Center Drive, St. George, UT. Light refreshments will be...
Bloomberg.com quotes Todd Curtis as portfolio manager of the Aquila Tax-Free Trust of Arizona in the 10/24/14 article “Mesa Prompts Bond Backlash as Debt Doubles Over 7 Years.”
“The city has a reasonable amount of debt considering its developing suburban fringes and aging downtown neighborhoods, said Todd Curtis, who manages the $274 million Aquila Tax-Free Trust of Arizona from Phoenix.”
Good news for Rhode Island – earlier this month, Moody’s affirmed the state’s $2.2 billion in general obligation debt at Aa2 and improved the outlook to Stable, ahead of a $208 million capital development bond issuance, of which, $162 million refunded existing debt. Moody’s also assigned an Aa3 credit rating with an outlook of stable to Rhode Island’s $47.7 million in lease participation certificates expected to be issued later in the month. The rating was notched below the state’s GO rating because the bonds will be secured by lease rental payments that are open to legislative appropriation.
Employees define the firm—and throughout our history, Aquila has been privileged to have employees of great commitment and integrity. As part of our ongoing celebration of Aquila’s 30th anniversary, we talk with our longest-serving team member, Sandy Antonucci, Senior Vice President and Chief Technology Officer at Aquila Investment Management LLC (sponsor of the Aquila Group of Funds).
You started at Aquila in 1982 as an intern. How were you hired?
Funny story. [Founder] Lacy Herrmann’s right-hand person Rose Marotta posted a help wanted ad at Baruch College, where I was in school. I wasn’t interested—it was in midtown Manhattan and...