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OPCMX

Rochester®®® Minnesota Municipal Fund

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Special Notice

Effective as of the close of the New York Stock Exchange on March 24, 2016, the purchase and exchange of Fund shares is restricted, subject to certain exceptions. Please see the prospectus for further information.

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Overview

The Strategy typically invests in Minnesota municipal bonds.

Inception Date
November 7, 2006
Investment Style
Single-State
Fund Index
Bloomberg Barclays Municipal Index
CUSIP
683833305
NAV
  • A
(as of 01/18/2018)
$12.72
Total Assets
(as of 12/31/2017)
$120.00 MM
Gross Expense Ratio
(as of 12/31/2017)
1.93%
Net Expense Ratio
(as of 12/31/2017)
1.75%
Performance
Average Annual Total Returns
Cumulative Returns
Calendar Year Returns
Capital Gains Distributions
as of 12/31/2017
  • G
as of 12/31/2017
  • G

Include Sales Charge
Include Sales Charge
Include Sales Charge
Include Sales Charge
  • G
Cumulative
Annualized
ytd as of 2017-12-31
  • C
1 yr 3 yr 5 yr 10 yr since inception
Rochester® Minnesota Municipal Fund (NAV)
3.77% 3.77% 1.97% 2.53% 3.99% 3.28%
Bloomberg Barclays Municipal Index
5.45% 5.45% 2.98% 3.02% 4.46% 4.35%
Cumulative
Annualized
ytd as of 2017-12-31
  • C
1 yr 3 yr 5 yr 10 yr since inception
Rochester® Minnesota Municipal Fund (with sales charge)
2.77% 2.77% 1.97% 2.53% 3.99% 3.28%
Bloomberg Barclays Municipal Index
5.45% 5.45% 2.98% 3.02% 4.46% 4.35%
Cumulative
Annualized
ytd as of 2017-12-31
  • C
1 yr 3 yr 5 yr 10 yr since inception
Rochester® Minnesota Municipal Fund (NAV)
3.77% 3.77% 1.97% 2.53% 3.99% 3.28%
Bloomberg Barclays Municipal Index
5.45% 5.45% 2.98% 3.02% 4.46% 4.35%
Cumulative
Annualized
ytd as of 2017-12-31
  • C
1 yr 3 yr 5 yr 10 yr since inception
Rochester® Minnesota Municipal Fund (with sales charge)
2.77% 2.77% 1.97% 2.53% 3.99% 3.28%
Bloomberg Barclays Municipal Index
5.45% 5.45% 2.98% 3.02% 4.46% 4.35%
Gross Expense Ratio: 1.93% | Net Expense Ratio: 1.69%

The performance data quoted represents past performance, which does not guarantee future results. The investment return and principal value of an investment in the Fund will fluctuate so that an investor's shares, when redeemed, may be worth more or less than the original cost. Current performance and expense ratios may be lower or higher than the data quoted. Fund returns include changes in share price and reinvested distributions and a 1% contingent deferred sales charge for the first year where indicated. Class C shares are subject to a 0.75% annual asset-backed sales charge. Returns do not consider capital gains or income taxes on an individual's investment.


Year Rochester® Minnesota Municipal Fund Bloomberg Barclays Municipal Index
2007 -3.98% 3.36%
2008 -27.52% -2.47%
2009 39.73% 12.91%
2010 3.34% 2.38%
2011 13.58% 10.70%
2012 9.73% 6.78%
2013 -4.97% -2.55%
2014 12.46% 9.05%
2015 2.41% 3.30%
2016 -0.22% 0.25%
2017 3.77% 5.45%

The performance data quoted represents past performance, which does not guarantee future results. The investment return and principal value of an investment in the Fund will fluctuate so that an investor's shares, when redeemed, may be worth more or less than the original cost. Current performance and expense ratios may be lower or higher than the data quoted. Fund returns include changes in share price and reinvested distributions and a 1% contingent deferred sales charge for the first year where indicated. Class C shares are subject to a 0.75% annual asset-backed sales charge. Returns do not consider capital gains or income taxes on an individual's investment.


Date Rochester® Minnesota Municipal Fund Bloomberg Barclays Municipal Index BBG Barclays Agg
12/31/2007 0.00 0.00 0.00
1/31/2008 1.53 1.26 1.68
2/29/2008 -4.19 -3.37 1.82
3/31/2008 -1.13 -0.61 2.17
4/30/2008 0.10 0.55 1.95
5/31/2008 1.06 1.16 1.21
6/30/2008 -0.42 0.02 1.13
7/31/2008 -1.58 0.40 1.04
8/31/2008 -0.35 1.57 2.00
9/30/2008 -6.29 -3.19 0.63
10/31/2008 -17.24 -4.18 -1.74
11/30/2008 -18.79 -3.88 1.45
12/31/2008 -26.93 -2.47 5.24
1/31/2009 -21.15 1.10 4.31
2/28/2009 -18.52 1.63 3.92
3/31/2009 -17.86 1.65 5.36
4/30/2009 -15.28 3.68 5.87
5/31/2009 -12.04 4.77 6.63
6/30/2009 -12.00 3.79 7.24
7/31/2009 -10.59 5.53 8.97
8/31/2009 -8.03 7.33 10.10
9/30/2009 0.99 11.18 11.26
10/31/2009 0.73 8.85 11.80
11/30/2009 1.73 9.75 13.25
12/31/2009 2.83 10.12 11.48
1/31/2010 4.28 10.69 13.18
2/28/2010 5.83 11.77 13.61
3/31/2010 6.25 11.50 13.47
4/30/2010 7.25 12.85 14.65
5/31/2010 8.48 13.70 15.61
6/30/2010 8.89 13.77 17.43
7/31/2010 10.45 15.19 18.68
8/31/2010 13.54 17.82 20.21
9/30/2010 14.04 17.64 20.33
10/31/2010 13.64 17.31 20.76
11/30/2010 9.94 14.97 20.07
12/31/2010 7.07 12.74 18.77
1/31/2011 5.04 11.91 18.91
2/28/2011 7.21 13.69 19.21
3/31/2011 7.14 13.31 19.28
4/30/2011 9.39 15.34 20.79
5/31/2011 12.10 17.31 22.37
6/30/2011 13.17 17.72 22.01
7/31/2011 14.96 18.92 23.94
8/31/2011 16.83 20.96 25.76
9/30/2011 19.52 22.21 26.67
10/31/2011 19.16 21.75 26.81
11/30/2011 19.85 22.47 26.70
12/31/2011 22.50 24.80 28.09
1/31/2012 26.39 27.69 29.21
2/29/2012 27.08 27.82 29.18
3/31/2012 26.76 26.98 28.48
4/30/2012 28.16 28.45 29.90
5/31/2012 30.16 29.52 31.07
6/30/2012 30.40 29.38 31.13
7/31/2012 32.60 31.43 32.94
8/31/2012 33.15 31.58 33.02
9/30/2012 33.99 32.37 33.20
10/31/2012 34.36 32.75 33.47
11/30/2012 37.02 34.93 33.68
12/31/2012 35.42 33.26 33.49
1/31/2013 36.27 33.82 32.55
2/28/2013 36.66 34.23 33.22
3/31/2013 36.21 33.65 33.32
4/30/2013 37.78 35.11 34.67
5/31/2013 36.62 33.46 32.27
6/30/2013 30.58 29.68 30.22
7/31/2013 28.50 28.55 30.40
8/31/2013 25.98 26.71 29.74
9/30/2013 28.52 29.44 30.96
10/31/2013 29.83 30.46 32.02
11/30/2013 29.80 30.19 31.53
12/31/2013 29.66 29.86 30.79
1/31/2014 33.21 32.39 32.72
2/28/2014 35.42 33.94 33.42
3/31/2014 36.69 34.17 33.20
4/30/2014 38.49 35.78 34.32
5/31/2014 40.81 37.53 35.85
6/30/2014 41.22 37.65 35.92
7/31/2014 41.74 37.89 35.58
8/31/2014 43.98 39.56 37.08
9/30/2014 44.70 39.70 36.15
10/31/2014 45.75 40.66 37.48
11/30/2014 45.80 40.90 38.46
12/31/2014 46.90 41.62 38.59
1/31/2015 48.96 44.13 41.49
2/28/2015 47.77 42.64 40.16
3/31/2015 48.41 43.05 40.81
4/30/2015 47.78 42.30 40.31
5/31/2015 48.01 41.91 39.97
6/30/2015 47.58 41.78 38.45
7/31/2015 48.49 42.80 39.41
8/31/2015 48.74 43.08 39.21
9/30/2015 49.57 44.12 40.15
10/31/2015 49.90 44.69 40.17
11/30/2015 50.59 45.27 39.80
12/31/2015 51.68 46.29 39.35
1/31/2016 52.80 48.04 41.27
2/29/2016 52.92 48.27 42.27
3/31/2016 53.63 48.74 43.58
4/30/2016 54.62 49.83 44.13
5/31/2016 55.48 50.24 44.16
6/30/2016 58.18 52.63 46.75
7/31/2016 58.13 52.72 47.68
8/31/2016 58.38 52.93 47.51
9/30/2016 57.95 52.16 47.43
10/31/2016 56.92 50.57 46.30
11/30/2016 51.29 44.95 42.84
12/31/2016 52.50 46.65 43.04
1/31/2017 52.96 47.62 43.32
2/28/2017 54.01 48.65 44.28
3/31/2017 54.20 48.97 44.21
4/30/2017 55.19 50.05 45.32
5/31/2017 57.03 52.43 46.44
6/30/2017 57.08 51.88 46.29
7/31/2017 57.85 53.11 46.92
8/31/2017 58.97 54.28 48.24
9/30/2017 58.28 53.49 47.53
10/31/2017 58.20 53.87 47.62
11/30/2017 57.80 53.04 47.43
12/31/2017 59.30 54.64 0.00
Date Dividends
1/22/2008 0.0452
2/26/2008 0.0438
3/25/2008 0.0455
4/22/2008 0.0457
5/27/2008 0.0439
6/24/2008 0.0458
7/22/2008 0.0469
8/26/2008 0.0453
9/23/2008 0.047
10/28/2008 0.0463
11/25/2008 0.0483
12/30/2008 0.0473
1/27/2009 0.0489
2/24/2009 0.0485
3/24/2009 0.0484
4/21/2009 0.0485
5/26/2009 0.0467
6/23/2009 0.048
7/28/2009 0.0466
8/25/2009 0.0479
9/22/2009 0.0476
10/27/2009 0.0455
11/24/2009 0.0473
12/30/2009 0.045
1/26/2010 0.0476
2/23/2010 0.0471
3/23/2010 0.047
4/27/2010 0.0452
5/25/2010 0.0468
6/22/2010 0.0469
7/27/2010 0.0451
8/24/2010 0.0467
9/21/2010 0.0467
10/26/2010 0.042
11/23/2010 0.044
12/30/2010 0.042
1/25/2011 0.0452
2/22/2011 0.0446
3/22/2011 0.0445
4/26/2011 0.0429
5/24/2011 0.0444
6/21/2011 0.0442
7/26/2011 0.0425
8/23/2011 0.0441
9/27/2011 0.0422
10/25/2011 0.044
11/22/2011 0.044
12/29/2011 0.0411
1/24/2012 0.0448
2/21/2012 0.0436
3/27/2012 0.0418
4/24/2012 0.0407
5/22/2012 0.0405
6/26/2012 0.0386
7/24/2012 0.0405
8/28/2012 0.0345
9/25/2012 0.0365
10/23/2012 0.0364
11/27/2012 0.0345
12/28/2012 0.0307
1/22/2013 0.034
2/19/2013 0.0324
3/26/2013 0.0305
4/23/2013 0.0324
5/28/2013 0.0305
6/25/2013 0.0326
7/23/2013 0.0329
8/27/2013 0.0312
9/24/2013 0.0341
10/22/2013 0.034
11/26/2013 0.0343
12/30/2013 0.0343
1/28/2014 0.0359
2/25/2014 0.0389
3/25/2014 0.0388
4/22/2014 0.0387
5/27/2014 0.0368
6/24/2014 0.0386
7/22/2014 0.0386
8/26/2014 0.0367
9/23/2014 0.0385
10/28/2014 0.0366
11/25/2014 0.0384
12/31/2014 0.0363
1/27/2015 0.0386
2/24/2015 0.0364
3/24/2015 0.0364
4/21/2015 0.0364
5/26/2015 0.0347
6/23/2015 0.0336
7/28/2015 0.0317
8/25/2015 0.0336
9/22/2015 0.0336
10/27/2015 0.0317
11/24/2015 0.0336
12/31/2015 0.0311
1/26/2016 0.032
2/23/2016 0.0315
3/22/2016 0.0315
4/26/2016 0.0296
5/24/2016 0.0314
6/21/2016 0.0314
7/26/2016 0.0294
8/23/2016 0.0313
9/27/2016 0.0294
10/25/2016 0.0314
11/22/2016 0.0315
12/30/2016 0.0289
1/24/2017 0.0327
2/21/2017 0.0317
3/28/2017 0.0299
4/25/2017 0.0317
5/23/2017 0.0317
6/27/2017 0.0298
7/25/2017 0.0316
8/22/2017 0.0316
9/26/2017 0.0297
10/24/2017 0.0316
11/21/2017 0.0317
12/29/2017 0.0285

There is no guarantee of the payment of any dividend or other distributions at any level.

The performance data quoted represents past performance, which does not guarantee future results. The investment return and principal value of an investment in the Fund will fluctuate so that an investor's shares, when redeemed, may be worth more or less than the original cost. Current performance and expense ratios may be lower or higher than the data quoted. Fund returns include changes in share price and reinvested distributions and a 1% contingent deferred sales charge for the first year where indicated. Class C shares are subject to a 0.75% annual asset-backed sales charge. Returns do not consider capital gains or income taxes on an individual's investment.

$ per share as of 01/17/2018

Date 2013 2014 2015 2016 2017
Short Term
Long Term
Total Amount of Distribution
Record Date
Ex Div Date
Pay Date

There is no guarantee of the payment of any dividend or other distributions at any level.

Portfolio

Top Fixed Income Sectors

(104.2% of assets as of 12/31/2017)


Portfolio Holdings Breakdown

State
Credit Rating Allocation
Asset Allocation
State Rochester® Minnesota Municipal Fund Bloomberg Barclays Municipal Index Overweight / Underweight
Minnesota 92.2% 1.1% 91.1%
Puerto Rico 1.0% 0.5% 0.5%
Credit Rating Allocation Rochester® Minnesota Municipal Fund Bloomberg Barclays Municipal Index Overweight / Underweight
A 25.7% 18.3% 7.3%
Unrated 25.7% 0.1% 25.6%
AA 22.0% 54.6% -32.6%
BBB 16.9% 4.9% 12.1%
BB 8.2% - -
AAA 4.5% 22.1% -17.6%
CC 0.6% - -
B 0.2% - -
CCC 0.2% - -
C 0.1% - -
Asset Allocation Rochester® Minnesota Municipal Fund Bloomberg Barclays Municipal Index Overweight / Underweight
Municipal 104.2% 100.0% 4.2%
Analytics
(As of 12/31/2017)

Morningstar 12/31/2017 (based on risk adjusted performance)
Overall Rating
Number of Funds
52
Category
Muni Minnesota
Performance Statistics
3Y
5Y
Alpha
-0.66
-0.65
Beta
0.87
1.07
Information Ratio
-1.32
-0.39
R-Squared
95.58
90.69
Sharpe Ratio
0.53
0.58
Standard Deviation
2.98
3.95
Sortino Ratio
0.20
0.22
Tracking Error
0.76
1.23
Dividends
  • D
Est. Frequency
Monthly
Last Pay Date
12/29/2017
Per Share ($)
$0.0285
12-Month Distribution ($)
$0.3723
Portfolio Characteristics
Fund
Fund Index
Average Effective Maturity
5.06 yrs
5.95 yrs
Current Duration
4.10 yrs
6.10 yrs
Turnover Ratio
12.00%
-
Yields
Dividend Yield (with sales charge)
0.00%
Dividend Yield (w/o sales charge)
2.68%
Standardized Yield
1.83%
Distribution Sources
  • D
Net Income
100.00%
Net Profit from Sale
0.00%
Other Capital Sources
0.00%
Interest Income 12/31/2016
Exposed to AMT
6.57%
Team
Documents
  1. 1. A portion of the Fund's distributions may be subject to tax and may increase taxes for investors subject to Alternative Minimum Tax (AMT).  Capital gains distributions are taxable as capital gains. Tax treatments of the Fund's distributions and capital gains may vary by state; investors should consult a tax advisor to determine if the Fund is appropriate for them.
  2. 2. As of the close of the New York Stock Exchange on March 24, 2016, the purchase and exchange of Fund shares are restricted, subject to certain exceptions. Please see the prospectus for further information.
  3. 3. Special Risks: Fixed income investing entails credit and interest rate risks. When interest rates rise, bond prices generally fall, and the Fund’s share prices can fall. Below-investment-grade (“high yield” or "junk") bonds are more at risk of default and are subject to liquidity risk. Large sector holdings may expose investors to greater volatility and special risks associated with that sector. May invest substantially in municipal securities within a single state or related to similar type projects, which can increase volatility and exposure to regional issues. May invest in Puerto Rico and other U.S. territories, commonwealths and possessions, and could be exposed to their local political and economic conditions. Inverse floaters can be more volatile than conventional fixed-rate bonds and entail the use of leverage. The Fund may invest in the segment of the municipal bond market that is unrated by a Nationally Recognized Statistical Rating Organization (“NRSRO”). Under certain market conditions, some unrated securities may trade less actively than rated securities.
  4. 4. The net expense ratio represents the Fund's gross expense ratio less certain interest and related expenses from the Fund's investment in inverse floaters, as reported in the latest prospectus. Under accounting rules, the Fund recognized additional income in an amount that offsets those expenses. the Fund's total returns and net asset values are not affected by those offsets.
  5. 5. The net expense ratio (where applicable) also takes into account contractual fee waivers and/or expense reimbursements without which performance would have been less. These undertakings may not be amended or withdrawn for one year from the date of the current prospectus, unless approved by the Board.
  6. 6. Access index definitions.
  7. 7. Holdings are subject to change, and are dollar weighted based on total net assets. Negative weightings may result from the use of leverage. Leverage involves the use of various financial instruments or borrowed capital in an attempt to increase investment return. Leverage risks include potential for higher volatility, greater decline of the fund's net asset value and fluctuations of dividends and distributions paid by the fund.
  8. 8. The dividend (or distribution) yield is based on the pay date immediately preceding the nearest month-end or quarter-end. The dividend yield for each share class is calculated by annualizing the dividend distributed by the class on that date and dividing that figure by the class's net asset value on that date. For the Class A dividend yield with sales charge, the annualized Class A dividend distribution is divided by the Class A maximum offering price on that date. Each result is compounded semiannually and annualized. Falling share prices artificially increase yields.
  9. 9. Standardized yield for each share class is based on an SEC standardized formula designed to approximate a Fund's annualized hypothetical current income from securities less expenses for the 30-day period ending and including the most recent month-end or quarter-end and either that date's maximum offering price (Class A shares) or net asset value (for other share classes). The month-end figure is typically calculated on the fifth business day of the next month. The result is compounded semiannually and annualized. Falling share prices artificially increase yields.
  10. A. Daily net asset value and dollar change of the fund is as of the previous business day's closing. Fund net asset values are updated at approximately 7:00pm ET daily.
  11. B. The performance data quoted represents past performance, which does not guarantee future results. The investment return and principal value of an investment in the Fund will fluctuate so that an investor's shares, when redeemed, may be worth more or less than the original cost. Current performance and expense ratios may be lower or higher than the data quoted. Fund returns include changes in share price, reinvested distributions and a 4.75% maximum sales charge where indicated. Returns do not consider capital gains or income taxes on an individual's investment.
  12. C. "Year to Date" returns are cumulative, not annualized, and do not reflect sales charges (if sales charges are applicable to the Fund). These returns would be lower if sales charges were taken into consideration. Short-term returns may not be indicative of longer-term performance, which should also be considered when making investment decisions.
  13. D. There is no guarantee of the payment of any dividend or other distributions at any level.
  14. E. Class B shares convert to Class A shares 72 months after purchase; therefore "since inception", "10-year" and "15-year" returns for Class B (if applicable) use Class A performance for period after conversion.
  15. F. The performance data quoted represents past performance, which does not guarantee future results. The investment return and principal value of an investment in the Fund will fluctuate so that an investor's shares, when redeemed, may be worth more or less than the original cost. Current performance and expense ratios may be lower or higher than the data quoted. Fund returns include changes in share price and reinvested distributions and contingent deferred sales charges (CDSC) for years 1-6 of 5%, 4%, 3%, 3%, 2% and 1%, respectively, where with sales charge is indicated. Class B shares are subject to a 0.75% annual asset-backed sales charge. Returns do not consider capital gains or income taxes on an individual's investment.
  16. G. The performance data quoted represents past performance, which does not guarantee future results. The investment return and principal value of an investment in the Fund will fluctuate so that an investor's shares, when redeemed, may be worth more or less than the original cost. Current performance and expense ratios may be lower or higher than the data quoted. Fund returns include changes in share price and reinvested distributions and a 1% contingent deferred sales charge for the first year where indicated. Class C shares are subject to a 0.75% annual asset-backed sales charge. Returns do not consider capital gains or income taxes on an individual's investment.
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