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Aquila hires co-manager for Utah tax-free fund


Aquila Investment Management has appointed Salt Lake City-based James (JT) Thompson as co-portfolio manager and vice president of Tax-Free Fund For Utah, which invests in bonds that are exempt from Utah state and regular federal income taxes.

Thompson will work closely with Todd Curtis, current co-portfolio manager of Tax-Free Fund For Utah, and portfolio manager of Tax-Free Trust of Arizona and Churchill Tax-Free Fund of Kentucky.

“Having JT join Aquila’s investment management team continues our commitment to locally-based portfolio management. His perspective on the Utah economy, municipal bond market and issuers is critical to the management of this fund,” says Diana Herrmann, Aquila’s chief executive and president. “The experience that JT brings to our firm further enhances our expertise in Utah’s municipal bond market and our ability to execute the fund’s strategy of providing double tax-exempt income from a high quality portfolio of municipal bonds.”

Thompson has over 24 years of experience in municipal bond underwriting and trading. Prior to joining Aquila, he was a senior vice president, underwriter and municipal bond trader with Wells Fargo Brokerage Services and First Security Bank in Salt Lake City. He was also a member of the municipal credit committee of each firm.

From 1987 to 1991, Thompson was employed with Wedbush Morgan Securities in Los Angeles where he helped establish the municipal unit investment trust sales desk. Prior to that, he was a financial and operations principal, municipal trader and manager of the municipal underwriting desk for Financial Market Securities, based in Orange, California.

Aquila offers a selection of seven single-state municipal bond funds, along with a high-yield corporate bond fund, a regionally-oriented equity fund, and three money market funds.

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