Our Family of Funds
For 30 years, the Rochester-based municipal bond team has championed a value-oriented, research-intensive and security-specific approach to investing.
We have always believed that investors are more likely to reach their goals for tax-free income from well-designed fixed income products, and our team seeks to deliver shareholder value by focusing on long-term total returns derived primarily from tax-free income.
Professional investment management, as most investors recognize, remains the greatest advantage of mutual fund investing. At Oppenheimer Rochester, we are committed to transforming this advantage into solid, long-term outcomes.
Our family of 20 municipal bond funds has been designed accordingly. Whether an investor prefers maturity managed, AMT-free, single-state or high yield strategies – or some combination thereof – our funds have what it takes, we believe, to support each investor’s unique set of financial goals.
These funds are designed for investors who would rather not worry about share-price volatility, which can be triggered by interest rate movements. Each primarily holds investment-grade securities and maintains an average effective maturity closer to the short end of the yield curve. The purchase of below-investment-grade issues is limited to just 5% of fund assets, and all five funds generate income exempt from federal personal income taxes.
California and New York taxpayers may wish to consider the limited term funds designed for their states, which generate income that is exempt from state and local taxes as well.
Oppenheimer Rochester Short Term Municipal Fund
Oppenheimer Rochester Limited Term Municipal Fund
Oppenheimer Rochester Limited Term California Municipal Fund
Oppenheimer Rochester Limited Term New York Municipal Fund
Oppenheimer Rochester Intermediate Term Municipal Fund
The Rochester investment team manages these two long-term funds so they produce income that is not subject to alternative minimum tax (AMT). They primarily hold investment-grade securities, and the purchase of below investment-grade issues is limited to 25% of fund assets. New York taxpayers may wish to consider Oppenheimer Rochester AMT-Free New York Municipal Fund, as the dividends it produces are exempt from state and local personal income taxes in New York, too.
Through these long-term, single-state funds, investors seeking attractive yields can earn income that is exempt from federal, state and, where applicable, local personal income taxes in the named state. These funds primarily hold investment-grade securities, and the purchase of below-investment-grade issues is limited to 25% of fund assets. Please note that the eight funds marked with an asterisk (*) were closed to most new investors as of the close of the New York Stock Exchange on March 24, 2016.
Oppenheimer Rochester Fund Municipals (for New York investors)
This long-term fund seeks to deliver highly competitive, yield-driven total returns for investors in all 50 states. The fund has no limit on below-investment-grade holdings and no maturity cap, which gives Oppenheimer Rochester managers the broadest investment discretion. It may exhibit levels of volatility at odds with an investor’s risk tolerance. The adrenaline rush of high yield investing is not for everyone. Consult with a financial advisor to see if this fund may be right for you.
Annual Overview 2016
Learn about our current fund lineup, which now includes 3 national funds, 2 national high yield funds and 15 single-state funds. All 20 Oppenheimer Rochester funds have been designed to help investors reach their goals for tax-free income. For more information on the news, market trends and investing strategies that made a difference in 2016, read our full Annual Overview.
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