11/15/2014

Trustees: The Shareholders’ Watchdogs

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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...

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10/14/2014

The Intern Who Stayed

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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...

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08/04/2014

I’ve Loved This Work from the Start

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For our 30th anniversary series, Aquila Tax-Free Fund of Colorado and Aquila Tax-Free Trust of Oregon portfolio manager Chris Johns talks about persistence, the value of knowing your investors, and why he still finds the municipal bond market so fascinating.

 

You’ve been involved with Aquila Tax-Free Fund of Colorado since its inception, correct?

Yes. In 1985 the United Bank of Denver—the initial sub-adviser for the Fund—was approached by Aquila founder Lacy Herrmann about starting a state-specific municipal bond fund for Colorado. As the bank’s bond expert, I was assigned to the project. The proposal got as far as senior...

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07/15/2014

Island Hopping

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Continuing our 30th anniversary series, Aquila Regional Sales Manager Sherri Foster recalls the beginnings of Aquila, reveals what fund salespeople do, and explains why working in Hawaii isn’t what you think.

Your career with Aquila started with a chance meeting. What happened?

It was the summer of 1984 and I was a realtor in Lahaina, Maui. Lacy Herrmann (Aquila founder) and his wife Betsey wandered into my office. They were on a cruise and were walking through town. I showed them a condo, we talked, and they returned to their ship.

That winter I followed up with a phone call....

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06/27/2014

Long History of Local Investing

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Portfolio managers make the daily decisions that add up to the investment performance that investors see year after year. For our 30th anniversary series, we spoke to our longest-serving portfolio manager, Todd Curtis, who has managed the Aquila Tax-Free Trust of Arizona since its inception in 1986.

How did you begin working with Aquila?

Aquila had identified Valley National Bank, headquartered in Phoenix, as the sub-advisor for their Arizona fund. At the time, I was managing municipal bond investments at Valley National Bank, so I was the...

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04/30/2014

We Interview Anne Mills, Retiring Trustee

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Looking Out for Shareholders

Aquila’s locally-based trustees play a crucial role in advocating on behalf of fund shareholders. As Anne J. Mills looks back on her tenure as a trustee on seven Aquila fund boards, we talked to her about what trustees do and what she’s seen in almost 30 years as a trustee.

How did you become involved with the Aquila Group of Funds?

Lacy Herrmann [Aquila’s founder] and I met in the mid-1980s, when we were both running for president of our college’s alumni board.  He...

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03/28/2014

Celebrating Our 30th Anniversary

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Our History, People and Distinctive Strategy

Diana P. Herrmann, President & CEO, Aquila Investment Management LLC

Lacy Herrmann, Aquila’s founder, was one of the earlier pioneers in money market funds beginning in the mid-1970s. By the early 1980s, a handful of state-specific municipal bond mutual funds were being offered in states with large populations and higher tax rates, such as California, New York and Massachusetts.  Mr. Herrmann was intrigued with the concept of launching similar funds in other states.

Since the...

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