Tax-Free Trust of Oregon is Renamed Aquila Tax-Fre

PORTLAND, Ore., Oct. 21, 2013 (GLOBE NEWSWIRE) -- Aquila Investment Management LLC (Aquila), investment advisor to Tax-Free Trust of Oregon (the Fund), announced that the Fund now carries the Aquila brand name and is known as Aquila Tax-Free Trust of Oregon (ORTFX). The Fund's name change is expected to facilitate identification of the Fund and clarify its association with the Aquila Group of Funds , which offers six other single-state municipal bond funds, a high yield bond fund and an equity fund.

The Fund's investment approach has not changed. The same locally-based portfolio management team continues to manage the fund, investing in high-quality municipal bonds with an intermediate average portfolio maturity.

"Aquila Tax-Free Trust of Oregon can now be more readily identified in the wide array of mutual fund information and research services used by investors and their financial advisers," explained Diana Herrmann, President and CEO of Aquila Investment Management LLC. "Aquila has specialized in the management of single-state municipal bond funds since 1985 and is one of the leading providers of such funds. We believe that including the Aquila brand in the name of our funds aides investors searching for the funds, and helps them see the depth and the span of our expertise in the municipal bond market," she added. 

Further, Aquila has updated and streamlined its investor communication tools, including the Aquila Group of Funds web site. The portion of the web site dedicated to the Fund incorporates the recently updated Aquila brand and overall improvements in the layout and navigation of the site. It also includes links to the latest fund information and insights from the Fund's investment team.

The Aquila Tax-Free Trust of Oregon investment team is locally-based in Oregon, with an up-close perspective on the issuers and economy in the state; a distinct advantage that is a hallmark of the Aquila investment process. "Our ability to gather information in Oregon about the state's economic and financial health, as well as its individual bond issuers, gives us a strong position for assessing the risks and return opportunities of individual securities," said Chris Johns, portfolio manager of the Fund. 

Aquila Tax-Free Trust of Oregon is the second largest municipal bond fund in Oregon. The Fund continues to invest in high-quality municipal bonds issued in the state, providing investors with income that is exempt from regular federal income tax and Oregon income tax. Double tax-exempt income can be very attractive to investors in all tax brackets, and characteristics of municipal bonds may make them suitable for conservative investors. Through investing in securities that help finance improvements in Oregon's infrastructure, education and other vital projects, investors in Aquila Tax-Free Trust of Oregon may directly benefit their state, county, and community.

ABOUT AQUILA

As investment managers for over a quarter century, we have always believed that investing successfully depends on knowing what you own and why you own it. We think this is particularly important in today's markets. The Aquila Group of Funds' seven single-state municipal bond funds, high yield bond fund and equity fund are managed to our high standard of quality. We combine a rigorous, hands-on investment approach with a strong commitment to service and approachability. As of September 30, we manage over $3.1 billion in assets. Aquila Management Corporation, the Funds' founder and sponsor, is a family-owned, privately-held firm established in 1984 to serve the needs of investors and financial advisors. Please see the Aquila Group of Funds Guiding Principles at www.aquilafunds.com .

Before investing in any of the funds offered by Aquila Group of Funds, carefully read about and consider the investment objectives, risks, charges, expenses, and other information found in the fund prospectus. Prospectuses are available from your financial advisor, and when you call 800-437-1020, or visit www.aquilafunds.com .

Victoria Odinotska Tel. 703-534-3735 Kanter & Company Diana Herrmann Tel. 212-697-6666 Aquila Investment Management LLC