LETTERS.

Investment News, August, 1999

Photo-oops Your Page 1 story on mutual fund shareholder meetings was interesting ("Hello? Hello? Is anybody out there? Anyone?," July 5), but the caption in my photo created a misleading impression as to the reason that Aquila Management Corp. often has several hundred shareholders attend the annual meetings of each of our seven single-state municipal bond funds.

The main reason people attend our annual meetings is that we are almost unique in the mutual fund industry for making the effort to encourage attendance of shareholders and to provide meaningful, educational presentations at the meetings to help our shareholders better understand their investments. It is not for the free lunch -- which we do not provide. The Honolulu annual meeting...

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