Are You Thinking About Munis?
Have you defined your needs and objectives? The Rochester fund managers are keenly aware that the population of retail and institutional investors seeking tax-free income has varied financial needs and objectives. Municipal bonds and municipal bond funds may be attractive to high-net-worth investors and millennials alike, but the asset class is appealing to these two cohorts (among others) for different reasons.
While tax exemption may be the main selling point for high-net-worth and other investors, younger investors may be motivated by the role that municipals play in community-building. In certain interest rate cycles, the nominal yield on municipal paper has even been a draw for foreign investors, who do not qualify for the favorable tax treatment available to U.S. taxpayers who invest.
Are You Looking To The Long Term?
We believe investors benefit when they have a clear understanding of which investment categories and products match their long-term goals and their personal tolerance for risk. A knowledgeable financial advisor can sort through the seemingly endless array of investment choices and, for a fee, help you create and implement a comprehensive and sound financial plan. If your advisor recommends municipal bond fund investments, he or she can help you select Rochester municipal funds. The key is to select funds with objectives that are well aligned with your own.
Are You Investing With Proven Teams?
We bring years of experience to the process of building and shaping the portfolios of the Oppenheimer Rochester municipal bond funds that we manage. Our team traces its roots to the 1983 establishment of The Rochester Funds, a professional money management firm that offered a handful of independent mutual funds.
Now as then, our team believes that investors are more likely to reach their goals for tax-free income from well-designed and carefully researched fixed income products. Today’s muni investors, we note, continue to seek the competitive levels of tax-free income that our value-oriented, research-intensive, and security-specific strategies have historically been able to deliver.
We Employ A Proven Approach
For investors facing an overwhelming blizzard of financial information, our approach to fund management should feel like a perfectly crisp breeze. That’s because our team – which set out more than 35 years ago to create significant shareholder value – has ventured off the well-worn path others follow.
While others lean on macro-economic computer models, we champion the Rochester Way, a research-intensive approach for scouring the market and searching for individual bond offerings with an appealing set of credit characteristics.
Our team works to identify market inefficiencies and then invests thoughtfully, always seeking to maintain a diverse set of municipal bond portfolios. Our research process gives us the confidence to accumulate bonds with varying maturities, coupons, and quality levels, and our portfolios have always been designed to offer attractive tax-free income with mitigated risk.
Professional investment management, as most investors recognize, remains the greatest advantage of mutual fund investing. In Rochester, we are committed to transforming this advantage into solid outcomes and believe that our experience and our research-driven wealth of knowledge make all the difference.
Our family of municipal bond funds has been designed accordingly. Whether an investor prefers national or single-state strategies – or some combination thereof – our funds have what it takes, we believe, to support each investor’s unique set of financial goals.
Our Family of Funds
- Oppenheimer Short Term Municipal Fund*
- Oppenheimer Intermediate Term Municipal Fund*
- Oppenheimer Municipal Fund*
- Oppenheimer Rochester AMT-Free Municipal Fund
- Oppenheimer Rochester Short Duration High Yield Municipal Fund
- Oppenheimer Rochester High Yield Municipal Fund
- Oppenheimer Rochester Fund Municipals (for New York investors)
- Oppenheimer Rochester Limited Term New York Municipal Fund
- Oppenheimer Rochester AMT-Free New York Municipal Fund
- Oppenheimer Rochester California Municipal Fund
- Oppenheimer Rochester Limited Term California Municipal Fund
- Oppenheimer Rochester Pennsylvania Municipal Fund
- Oppenheimer Rochester New Jersey Municipal Fund
For more details on our suite of municipal bond funds, read more in the Rochester Compendium linked below.
* Before June 29, 2018, Oppenheimer Short Term Municipal Fund was known as Oppenheimer Rochester Short Term Municipal Fund and Oppenheimer Intermediate Term Municipal Fund was known as Oppenheimer Rochester Intermediate Term Fund. Before October 15, 2018, Oppenheimer Municipal Fund was known as Oppenheimer Rochester Minnesota Municipal Fund. Various changes were made to each fund’s prospectus on either June 29 or October 15, 2018. Past performance, therefore, is not indicative of future results. Investors are encouraged to review each fund’s prospectus and summary
Fixed-income investing entails credit and interest rate risks (when interest rates rise, bond/fund prices generally fall). A portion of a municipal bond fund’s distributions may be subject to tax and may increase taxes for investors subject to federal alternative minimum tax; however, income distributions from the two AMT-free funds will not increase an investor’s exposure to AMT. Capital gains distributions are taxable as capital gains.