Building Portfolios Designed for the Long Term

Like bridge engineers, Oppenheimer Rochester’s portfolio managers build for the long term.

Whether the work involves spanning distances or spanning time, these roles require expertise, drive, grit and confidence in their tried-and-true approaches. Seasoned engineers and portfolio managers know that few rewards are risk-free and that tenacity, focus and patience can transform their hard work into endeavors capable of making a meaningful difference in the lives of the people and communities they serve.

Milestones will be met, they know, even as preferred outcomes may be obscured or delayed. Those with extensive experience have seen ugly stretches of time eventually give way to beautiful results, and they rely on that knowledge to press on.

At Oppenheimer Rochester, which has pursued yield-driven total returns for nearly 30 years, 2015 represented another year of industry-leading dividend yields. Investors seeking competitive levels of tax-free income received monthly dividend distributions throughout 2015, a fact that may have been obscured given the degree to which the Federal Reserve’s deliberations and developments in the Commonwealth of Puerto Rico were front and center.

As was true at year-end 2014, an Oppenheimer Rochester fund was ranked first at year-end 2015 in 12-month distribution yield at net asset value (NAV) in 16 of the 17 Lipper municipal bond fund categories in which our funds compete. As of December 31, 2015, the 12-month distribution yields at NAV of our funds’ Class A shares all delivered top-half results, with 19 finishing in the top quartile, 18 in the top decile and 13 in the top 5% of their categories.

We believe these results speak to the power of investing in the Rochester Way: We champion a value-oriented, research-intensive and security-specific approach to generate long-term total returns derived primarily from tax-free income, and we offer a set of 20 funds designed to meet the diverse financial objectives and needs of fixed-income investors.

Learn about the news, market trends and investing strategies that made a difference in our Annual Overview 2015 and follow us @RochesterFunds for our perspectives on the muni market.