History

Although the Aquila Group of Funds may be best known for its municipal bond funds, which were developed beginning in the mid-1980s, predecessor companies with similar management (STCM Management Company Inc. and InCap Management Corporation) began working in the financial markets in the early 70s.

Founded one of the very first money-market funds in the country.

Founded another half dozen money-market funds.

Aquila Management Corporation is founded.

Hawaiian Tax-Free Trust, the 32nd such fund in the nation and the 1st Hawaiian municipal bond fund, is launched.

Tax-Free Trust of Arizona and Tax-Free Trust of Oregon join the family.

Tax-Free Fund of Colorado and Churchill Tax-Free Fund of Kentucky follow quickly thereafter.

Tax-Free Fund For Utah and Aquila Narragansett Tax-Free Income Fund make it seven single-state bond funds.

Aquila enters the equity world and launches Aquila Rocky Mountain Equity Fund.

Aquila Group of Funds receives prestigious Lipper Best Bond Group of the Year in the U.S. Award (in recognition of achieving consistent risk-adjusted returns and the highest three-year annualized total return).

Aquila launches its first corporate bond fund, Aquila Three Peaks High Income Fund.

Name and strategy change for the Aquila Rocky Mountain Equity Fund to Aquila Three Peaks Opportunity Growth Fund (a capital appreciation fund).