Aquila Management Corp. of New York, adviser to the Aquila Group of Funds, has created two new equity funds with economist Arthur B. Laffer.

The Aquila/Laffer S&P 500 Competitive Advantage Fund will include two series - the Cap-Weighted Fund and the Equal-Weighted Fund. Both funds are based on Laffer's proprietary model of choosing from among the large-cap stocks included in the Standard & Poor's 500.

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