Aquila Three Peaks Opportunity Growth Fund will pursue the objective of capital appreciation by investing at least 70% of assets in equity securities, without regard to whether they could be described as “growth” or “value”, and investing in a range of market capitalizations that could include small-cap, mid-cap, and large-cap.   Equity holdings of the Fund may include common stock, warrants, convertible bonds, preferred stock or a limited allocation to foreign equity.

Up to 30% of assets may be invested in fixed income securities including lower-quality, high-yield corporate debt.  We believe that high-yield bonds have the ability to moderate equity market volatility by virtue of the coupon payments and the characteristically lower volatility of high-yield corporate bonds relative to equities. 

The investment strategy and process described here was initially made available to shareholders of Aquila Three Peaks Opportunity Growth Fund on October 15, 2010. 

The Fund is qualified for sale in the District of Columbia and all 50 U.S. States with the following exceptions: Iowa, Maryland, and Oklahoma - Class A, C and I shares only.
 
The Fund is not a financial institution deposit or other obligation, is not backed by any financial institution guarantee, is not backed by FDIC or other deposit insurance, and is subject to investment risks, including possible loss of the principal amount invested. Before investing in the Fund carefully read about and consider the investment objectives, risks, charges, expenses, and other information found in the Fund prospectus. An investment in the Fund involves certain risks, including market and financial risk, volatility and trading volume of small companies, interest and credit risks of convertible fixed income investments, economic and possible loss of the principal amount invested.