The investment seeks to provide the investors as high a level of current income exempt from Kentucky state and regular Federal income taxes as is consistent with preservation of capital. Under normal circumstances, at least 80% of the fund's net assets will be invested in municipal obligations that pay interest exempt, in the opinion of bond counsel, from Kentucky income and regular Federal income taxes, the income paid upon which will not be subject to the Federal alternative minimum tax on individuals. These obligations can be of any maturity, but the fund's average portfolio maturity has traditionally been between 11 and 15 years. It is non-diversified.
Fund filings (PDF) »
Royden Durham (Started: Oct 28, 2011)
Todd Curtis (Started: Apr 30, 2009)
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Aquila, 380 Madison Avenue, Suite 2300