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.
Shareholders of Aquila Churchill Tax-Free Fund of Kentucky are cordially invited to attend their annual shareholder meeting April 22, 2015 at 8:30 a.m. in the Papa John’s Cardinal Stadium, Brown & Williamson Club, University of Louisville, 2800 South Floyd Street, Louisville, KY.
Attendees will have the opportunity to visit with Fund Executives, Trustees, the Portfolio Manager and hear Dr. James R. Ramsey, Trustee and renowned Kentucky economist, and Ryan Barrow, Executive Director, Kentucky Office of Financial Management, speak about the Kentucky and national economy.
Please plan to attend. We look forward to seeing you on April 22.
On January 20, 2015, Asset TV produced a Municipal Bond Masterclass in which a panel of municipal bond fund portfolio managers was asked to discuss their expectations of the municipal bond market in 2015 and their investment strategies.
Todd Curtis, Senior Vice President and Portfolio Manager or Co-Portfolio Manager of Aquila Tax-Free Trust of Arizona, Aquila Churchill Tax-Free Fund of Kentucky and Aquila Tax-Free Fund For Utah participated as a panelist. The following video includes highlights from his comments.
Shares of the Funds may only be sold by offering the Funds’ Prospectus. Before investing in a 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.
“It wasn’t that I expected anything, mind you, but I knew I’d been paying for something called Social Security and I wanted to ask the people in Rutland about it” ~ Miss Ida May Fuller
On January 31, 1940, Miss Ida May Fuller received the first monthly Social Security check. Check number 00-000-001 was issued in the amount of $22.54. Ida May was born on September 6, 1874 on a farm in Vermont. She started her working life as a school teacher and in 1905 became a legal secretary. She never married and had no children.
The Social Security Act, as part of President Franklin D. Roosevelt’s New Deal, was signed on August 14, 1935 and the first Social Security taxes were collected in January of 1937. Miss Fuller paid the new taxes as a deduction on her paycheck. Read more “Social Security Celebrates 75 Years of Benefits”
In December, 2014, Barron’s interviewed Aquila Three Peaks Opportunity Growth Fund Co-Portfolio Manager, Sandy Rufenacht, to discuss the distinctive investment strategy of the fund along with several fund holdings illustrative of the strategy in practice. Research for fund holdings begins in the high-yield corporate bond market. As Sandy explained, “The high yield market is much more focused on not just revenue but cash flow”.
Each year, the IRS specifies mailing deadlines for a variety of tax forms.
February 17, 2015 is the mailing deadline for 2014 IRS forms 1099-B (Proceeds from Brokerage and Barter Exchange Transactions) and 1099-DIV (Dividends and Distributions). Forms being sent to Fund shareholders will be mailed by the February 17, 2015 deadline, and may be mailed prior to the deadline.
Aquila Three Peaks Opportunity Growth Fund was included in a “Category Kings” report by The Wall Street Journal for the one-year period ending December 31, 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 #4 in the Lipper Midcap Core equity category, out of 386 open-end mutual funds. During this period, the Fund generated a total return of 16.2% compared to the Lipper Midcap Core category average of 8.3% and the Russell 3000 Index return of 12.6%. Read more “Aquila Three Peaks Opportunity Growth Fund Recognized as a Category King”