During the Aquila Narragansett Tax-Free Income Fund Annual Shareholder meeting on April 2, 2015, Rhode Island State Treasurer, Seth Magaziner spoke to attendees, sharing his observations on the economy in Rhode Island. He pointed out that the financial position of the state is steadily improving, having reached a turning point with a new sense of optimism in the air. Read more “Rhode Island State Treasurer, Seth Magaziner, speaks to Fund shareholders”
As you put the 2014 tax season behind you, think about how much of what you earn is allocated to pay taxes each year. This year, Americans will pay a total of $4.8 trillion, or 31% of their income in taxes. Consider how many days of work will be dedicated to paying that bill. Every year the Tax Foundation1 establishes Tax Freedom Day®, which marks the day when the nation has earned enough money collectively to pay its total tax bill. For 2015, Tax Freedom Day® falls on April 24th; three days later than 2014 due to the country’s delayed economic recovery. This means the average taxpayer will spend 114 days working to pay their taxes. If federal borrowing is included in the equation, it moves Tax Freedom Day® out another 14 days to May 8th. Read more “Are You Free of Your Tax Bill for the Year?”
Aquila Three Peaks Opportunity Growth Fund was included in a “Category Kings” report by The Wall Street Journal for the one-year period ending March 31, 2015. 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 a tie with another fund) in the Lipper Mid Cap Core equity category , out of 386 open-end mutual funds. During this period, the Fund generated a total return of 21.10% compared to the Lipper Mid Cap Core category average of 9.70% and the Russell 3000 Index return of 12.37%. Read more “Aquila Three Peaks Opportunity Growth Fund Recognized as a Category King”
We are pleased to announce that Aquila Three Peaks Opportunity Growth Fund has received a 2015 Lipper Fund Award, presented to Aquila Investment Management LLC.
Each year, Lipper recognizes funds and fund management firms for their consistently strong risk-adjusted performance relative to their peers, based on Lipper’s proprietary performance-based methodology. Aquila Three Peaks Opportunity Growth Fund Class Y received a Lipper Award in the Mid-Cap Core Category for the 3-year performance period ending 12/31/2014. At that time, the Lipper category included 324 funds. The Fund sub-adviser is Three Peaks Capital Management, LLC and the co-portfolio managers are Sandy Rufenacht and Zach Miller.
The equity investment strategy of Aquila Three Peaks Opportunity Growth Fund is very distinctive, with equity investment ideas generated in the process of conducting research on high yield debt issuers with financially responsible management teams that have used leverage to grow their business and who are committed to improving the corporate balance sheet. For certain companies, improvement in the corporate balance sheet may lead to improvement in the performance of the company stock.
We are honored that Aquila Three Peaks Opportunity Growth Fund has been recognized by Lipper for risk-adjusted performance. You will find more information about the investment strategy and performance of the Fund on this site.
Before investing in the Fund, carefully read about and consider the investment objectives, risks, charges, expenses, and other information found in the Fund prospectus. The prospectus is available on this site, from your financial adviser, and when you call 800-437-1020.
Shareholders of Aquila Tax-Free Fund of Colorado are cordially invited to attend their annual shareholder meeting May 13, 2015 at 2:00 p.m. in the Hyatt Denver Tech Center, 7800 E. Tufts Avenue, Denver, CO.
Attendees will have the opportunity to visit with Fund Executives, Trustees, the Portfolio Manager and hear Tom Binnings, Senior Partner, Summit Economics, LLC speak about the Colorado and national economy.
Please plan to attend. We look forward to seeing you on May 13th.
Rhode Island’s former Treasurer and recently appointed Governor, Gina Riamondo, has proposed an $8.6 billion budget for fiscal year 2016 designed to reenergize Rhode Island’s stressed economy. Included in her proposal is restructuring a portion of the State’s debt to enhance economic development. The debt restructuring is expected to generate a total of $83.9 million for the state over the next two fiscal years. Riamondo plans to allocate the funds to a school construction capital fund, a state infrastructure bank and toward economic development priorities in the old I-195 corridor in downtown Providence.
Zach Miller, Co-Portfolio Manager of Aquila Three Peaks Opportunity Growth Fund, provided comments for a February 21, 2015 article published by Barron’s regarding HCA Holdings (HCA). The firm has been a long-term holding in Aquila Three Peaks Opportunity Growth Fund and operates 166 hospitals and 113 surgical centers in 20 states. The Barron’s article discusses the business model and financial results of HCA Holdings, and evaluates the firm in the context of the Affordable Care Act and a related case currently pending before the U.S. Supreme Court. Read more “Zach Miller Comments on HCA in Barron’s”
A Wall Street Journal article, published February 8, 2015, listed a number of circumstances in which it might be more beneficial to take advantage of active fund management rather than passive fund management tied to an index. One circumstance on that list was investing in bonds.
Periods of rising rates are challenging for bond investors, and a bond fund portfolio aligned with a bond index may be along for the ride when rising rates, and correspondingly declining bond values, impact the market. That is because an index fund, by design, will be aligned with the composition of the overall bond market, or a sector of the bond market, and therefore subject to comparable rate-sensitivity.
Active bond fund managers have the ability to take steps in an effort to mitigate, to some degree, the impact of market volatility. With the ability to actively manage fund holdings over time, these managers may implement a number of strategies in order to adjust fund holdings based on market expectations. Read more “Active Fund Management for Bond Investors”
Shareholders of Aquila Narragansett Tax-Free Income Fund are cordially invited to attend their annual shareholder meeting April 2, 2015 at 9:00 a.m. in the Rhode Island Convention Center, Room 551, 1 Sabin Street, Providence RI.
Attendees will have the opportunity to visit with Fund Executives, Trustees, the Portfolio Manager and hear Rhode Island State Treasurer, Seth Magaziner, speak about the Rhode Island economy. Mr. Magaziner was elected to the office of Rhode Island General Treasurer in November, 2014 with plans to focus on promoting economic growth and retirement security for all Rhode Islanders. He is one of three state treasurers to serve on the executive board of the State Debt Management Network.
Please plan to attend. We look forward to seeing you on April 2nd.
Shareholders of Aquila Tax-Free Income Trust of Oregon are cordially invited to attend their annual shareholder meeting April 8, 2015 at 2:00 p.m. in the Oregon Convention Center, Portland Ballroom 256, 777 NE Martin Luther King Jr. Blvd, Portland, OR.
In addition, a Shareholder Outreach Meeting will take place on April 7, 2015 at 10:00 a.m. in the Hilton Garden Inn, Broken Top Room, 425 SW Bluff Drive, Bend OR.
Attendees will have the opportunity to visit with Fund Executives, Trustees, the Portfolio Manager and hear John Mitchell, Trustee and renowned Oregon economist, speak about the Oregon and National economy.
Please plan to attend. We look forward to seeing you.