Street Wise: Aquila's feeling that Rocky Mountain high.(The Markets)

Investment News, August, 2003

Byline: Jeff Benjamin Nine years ago, when Aquila Management Corp., a New York municipal bond funds shop, launched a mutual fund that invests specifically in the stock of companies based in the Rocky Mountain region in Colorado, it might have seemed off the beaten path. Even Barbara Walchli, who took over management of the portfolio in 1999, concedes that the fund's premise may have been premature.

Today, however, while just $10 million is invested in the Aquila Rocky Mountain Equity Fund (ROCAX), Aquila is erasing all doubt as to whether the strategy is sound. This year through late last week, the fund's net asset value had gained 17.3%, and the fund was up 22.8% over the previous 12 months. On the surface, Ms. Walchli cites the power...

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