10/29/2014

Arizona Shareholder Meetings in November

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Aquila Tax-Free Trust of Arizona invites you to your Trust’s meeting of shareholders.

The 2014 Annual Shareholder Meeting will be held in Scottsdale, AZ on Thursday, November 6 at 10:00 a.m. at the Scottsdale Plaza Resort, La Valencia Room, located at 7200 N. Scottsdale Road, Scottsdale, AZ.  Light refreshments will be served prior to the meeting.

There will also be a Shareholder Outreach Meeting in Tucson, AZ on Wednesday, November 5 at 10:00 a.m. at the Westward Look, Catalina Room, located at 245 E. Ina Road, Tucson, AZ.  Light refreshments will be served prior to the meeting.

During each meeting, you...

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10/29/2014

Aquila Three Peaks Opportunity Growth Fund Recognized as a Category King

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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...

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10/27/2014

Utah Shareholder Meetings in October

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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...

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10/27/2014

Todd Curtis Quoted Regarding Mesa, AZ Bond Issuance

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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.”

 ...

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10/24/2014

Rhode Island Receives Credit Ratings Affirmations

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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.

Rhode Island continues...

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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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10/13/2014

Capital Gain Distribution Estimates – 2014

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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 September 15, 2014. The amount and character of distributions cannot be determined until the anticipated record dates.

Shares of the Funds may only be...

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09/11/2014

Colorado School Bonds on Ballots

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This November, Colorado voters in 14 school districts will see a collective $1.4 billion in school bonds on their election ballots. If approved, Boulder Valley School District will lead the new issuance with $576.4 million, which will become the largest school district bond issue in Colorado’s history. Other notable bond proposals include Adams County School District 12 with $220 million, Brighton County School District 27J with $148 million, El Paso School District 49 with $107.4 million and Adams County School District 14 with $95.7 million.

The proposed issuance comes at a time when municipal bond supply has been limited. Through...

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09/03/2014

For Equity Growth, Rufenacht Seeks the Fiscally Responsible

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If the equity markets have had a nice run since 2009, it’s been even better for Aquila Three Peaks Opportunity Growth Fund. For the five-year period ending on June 30, the S&P 500 Index returned a cumulative 120% while Aquila Three Peaks Opportunity Growth Fund had a cumulative total return of 148% based on the public offering price. The annualized total return over the period placed the Fund in the top 21% of its Lipper Mid-Cap Core category. We recently spoke with the fund’s co-portfolio manager Sandy Rufenacht about fiscally responsible companies, how long the equity bull market...

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