Aquila adds Royden Durham to its team of municipal bond fund managers

By Ashley Montgomery

Kansas City, Kan., Oct. 26 - Aquila Investment Management LLC has hired Royden P. Durham to serve as vice president and co-portfolio manager of the company's Churchill Tax-Free Fund of Kentucky, the company announced in a news release.

"Royden's extensive financial industry experience both in the fixed income and equity areas enhances and bolsters Aquila's portfolio management expertise," said Diana Herrmann, president and chief executive officer of Aquila Investment Management, in the release.

"We believe that the fund's shareholders will be particularly well served by the insights and experience he has gained over the years in the Kentucky financial services industry."

Aquila said the addition underscores the company's "commitment to locally-based fund management" and "local investment talent." Churchill Tax-Free Fund of Kentucky is a municipal bond fund investing in state- and federal-income-tax-exempt bonds. Durham will research investments for the fund and interact with other professionals in finance.

Durham previously founded and was president of AdvEnergy Solutions in Louisville, Ky. Durham has experience as a portfolio manager and trust investment officer in the areas of fixed-income and equity assets. He has worked in investment at several firms, including JP Morgan Chase.

Aquila Investment provides portfolio management services through its affiliates.

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