|
Fund Facts |
Tax-Free
Trust of Oregon, one of the Aquila Group of Funds, is a municipal bond mutual fund designed especially
for Oregon residents.
|
Class
A |
Class
C |
Class
I |
Class
Y |
Ticker |
ORTFX |
ORTCX |
ORTIX |
ORTYX |
Cusip
Number |
876932104 |
876932203 |
876932401 |
876932302 |
| |
|
| INVESTMENT OBJECTIVE |
To seek to provide as high a level of current income exempt from Oregon personal and regular Federal income taxes as is consistent with preservation of capital by investing in municipal obligations which pay interest exempt from Oregon State and Federal income taxes. To achieve this objective, the Trust will invest primarily in tax-free municipal obligations - the kind of securities that finance schools, highways, airports, hospitals, and water and sewer facilities in Oregon. |
| INVESTOR PROFILE |
Oregon taxpayers who can benefit from income that is exempt from Federal, state, and local income taxes. The Trust is not appropriate for tax-deferred retirement plans, such as IRAs. |
| PORTFOLIO MANAGEMENT |
Aquila Investment Management LLC, Adviser to the Trust, has delegated investment management duties to the Sub-Adviser for the Trust, Davidson Fixed Income Management, Inc., doing business in Oregon as Kirkpatrick Pettis Capital Management, Inc. (KPCM). The Sub-Adviser provides the Trust with experienced professional management. KPCM offers a wide range of fixed-income advisory services for non-profit entities, higher education institutions, state governments, school districts and all levels of local government, and has approximately $5.0 billion in assets under management. KPCM supervises the investment program of the Trust and the composition of its portfolio, subject to control by the Board of Trustees. |
| INCEPTION DATE |
June 16, 1986 |
| NET ASSETS |
$557.4 million (April 30, 2013) |
| MONTHLY INCOME |
Your income from the Trust is double tax-free - free of both regular Federal and State of Oregon personal income taxes.* |
| LOW INITIAL INVESTMENT |
You may open your account with any amount of $1,000 or more or by opening an Automatic Investment Program (minimum $50 per month). This periodic investment program cannot protect against loss in declining markets and will not insure a profit. |
| ADDITIONAL INVESTMENTS |
Once your account is open, you may add to it at any time and in any amount. There is no minimum on additional investments. |
| AUTOMATIC INVESTMENTS |
A specific amount ($50 minimum per investment) can be invested, automatically each month on the 1st and/or 16th. Your pre-designated checking account will be debited automatically.
This periodic investment program cannot protect against loss in declining markets and will not insure a profit. |
| DIVERSIFICATION |
You gain immediate diversification in a high quality portfolio of investment grade bonds through the Trust. As of March 31, 2013, there were 227 municipal bond issues in the portfolio. |
| LIQUIDITY |
You have ready liquidity permitting you to sell any amount of your investment on any business day at the then current share Net Asset Value. Due to market fluctuations, such share value may, of course, be more or less than your share purchase price. There are no redemption charges or penalties when you sell regular Class A Shares. A 1% Contingent Deferred Sales Charge (CDSC) will apply to Class C Shares redeemed within the first 12 months of purchase. |
| DIVIDENDS |
Dividends are declared daily and paid monthly. You have the choice of having any or all of your dividends automatically reinvested for you, without sales charge, in additional shares or paid in cash by either electronic transfer to your personal bank account or a convenient monthly check. If you automatically reinvest your monthly dividends, your income will compound tax-free. Alternatively, you may direct all your distributions to another one of your existing accounts in the Aquila Group of Funds. |
| MONTHLY STATEMENTS |
You receive a monthly statement of your account. Additionally, you receive a statement each time you add to your account or take money out. This allows you to easily keep track of your investment. |
| YIELD |
You may obtain the latest 30-day SEC yield by calling toll-free 1-800-437-1020 between 9:00 A.M. and 5:00 P.M. (Eastern time) on any business day. |
| HOW TO INVEST |
You may invest in Tax-Free Trust of Oregon through your local financial professional. Nearly 500 securities firms have sales agreements to sell shares of the Trust. If yours is not one of these firms, you may invest in Class A or Class C shares by using the Trust's application. Class I and Class Y shares are only available through a financial intermediary or institution. |
| ALTERNATE PURCHASE PLANS AND SALES CHARGE BREAKPOINTS |
The Trust offers both Front-Payment Class Shares (Class A Shares) or Level-Payment Class Shares (Class C Shares). There is a maximum sales charge of 4% on investments in the Class A Shares. Class C Shares do not have a sales charge, but do have a contingent deferred sales charge (CDSC) of 1% if a redemption occurs within the first 12 months of purchase. For additional details, click here. Class I and Class Y shares are available to investors only through a professional financial advisor or a financial institution. Please see the prospectus for details. |
| 3/31/13 PORTFOLIO |
Click Here
(In order
to view the portfolio, you must have Adobe Acrobat Reader. To download
this program, free of charge, please visit http://www.adobe.com/products/acrobat/readstep.html.) |
LOCAL AQUILA REPRESENTATIVE |
 |
Christine L. Neimeth, Vice President
1-503-720-6367
cneimeth@aquilafunds.com |
| OFFICERS |
Diana P. Herrmann, President
Charles E. Childs, III, Executive Vice President
Marie E. Aro, Senior Vice President
Paul G. O'Brien, Senior Vice President
Christine L. Neimeth, Vice President
Randall S. Fillmore, Chief Compliance Officer
Joseph P. DiMaggio, Chief Financial Officer and Treasurer |
| TOLL-FREE NUMBERS |
General Information: 1-800-437-1020
Account Inquiries: 1-800-437-1000 |
*For certain investors, some income may be subject to Federal and state taxes, including the Alternative Minimum Tax. Before investing in the Trust, carefully read about and consider the investment objectives, risks, charges, expenses, and other information found in the Trust prospectus. Consideration should be given to the risks of investing including potential loss of value, market risk, interest rate risk, credit risk, and geographic concentration. Insurance on an obligation is intended to mitigate credit risk; it does not insure the market price of the obligation. |
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