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ONJCX

Rochester® New Jersey Municipal Fund

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Overview

The Strategy typically invests in New Jersey municipal bonds.

Inception Date
August 29, 1995
Investment Style
Rochester Municipals
Fund Index
Bloomberg Barclays Municipal Index
CUSIP
683940803
NAV
  • A
(as of 09/17/2018)
$9.35
Total Assets
(as of 08/31/2018)
$261.67 MM
Gross Expense Ratio
(as of 08/31/2018)
1.81%
Net Expense Ratio
(as of 08/31/2018)
1.75%
Performance
Average Annual Total Returns
Cumulative Returns
Calendar Year Returns
Capital Gains Distributions
as of 08/31/2018
  • E
as of 06/30/2018
  • E

Include Sales Charge
Include Sales Charge
Include Sales Charge
Include Sales Charge
  • E
Cumulative
Annualized
ytd as of 2018-06-30
  • C
1 yr 3 yr 5 yr 10 yr since inception
Rochester® New Jersey Municipal Fund (NAV)
11.03% 3.95% 2.61% 2.34% 3.52% 3.80%
Bloomberg Barclays Municipal Index
-0.25% 1.56% 2.85% 3.53% 4.43% -
Cumulative
Annualized
ytd as of 2018-06-30
  • C
1 yr 3 yr 5 yr 10 yr since inception
Rochester® New Jersey Municipal Fund (with sales charge)
10.03% 2.95% 2.61% 2.34% 3.52% 3.80%
Bloomberg Barclays Municipal Index
-0.25% 1.56% 2.85% 3.53% 4.43% -
Cumulative
Annualized
ytd as of 2018-08-31
  • C
1 yr 3 yr 5 yr 10 yr since inception
Rochester® New Jersey Municipal Fund (NAV)
13.95% 6.10% 3.69% 4.59% 3.82% 3.88%
Bloomberg Barclays Municipal Index
0.25% 0.49% 2.71% 4.12% 4.32% -
Cumulative
Annualized
ytd as of 2018-08-31
  • C
1 yr 3 yr 5 yr 10 yr since inception
Rochester® New Jersey Municipal Fund (with sales charge)
12.95% 5.10% 3.69% 4.59% 3.82% 3.88%
Bloomberg Barclays Municipal Index
0.25% 0.49% 2.71% 4.12% 4.32% -
Gross Expense Ratio: 1.81% | Net Expense Ratio: 1.75%

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® New Jersey Municipal Fund Bloomberg Barclays Municipal Index
1996 4.56% 4.43%
1997 8.75% 9.19%
1998 5.49% 6.48%
1999 -8.53% -2.06%
2000 8.45% 11.68%
2001 3.30% 5.13%
2002 8.61% 9.60%
2003 6.40% 5.31%
2004 7.71% 4.48%
2005 9.25% 3.51%
2006 6.93% 4.84%
2007 -5.45% 3.36%
2008 -34.68% -2.47%
2009 48.71% 12.91%
2010 2.93% 2.38%
2011 11.42% 10.70%
2012 10.44% 6.78%
2013 -10.78% -2.55%
2014 15.36% 9.05%
2015 -0.62% 3.30%
2016 2.55% 0.25%
2017 -7.09% 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® New Jersey Municipal Fund Bloomberg Barclays Municipal Index BBG Barclays Agg
8/31/2008 0.00 0.00 0.00
9/30/2008 -9.55 -4.69 -1.34
10/31/2008 -20.70 -5.66 -3.67
11/30/2008 -24.06 -5.36 -0.54
12/31/2008 -30.18 -3.98 3.17
1/31/2009 -23.16 -0.47 2.26
2/28/2009 -20.97 0.05 1.88
3/31/2009 -22.41 0.07 3.29
4/30/2009 -16.98 2.07 3.79
5/31/2009 -9.91 3.15 4.54
6/30/2009 -11.60 2.19 5.14
7/31/2009 -9.12 3.89 6.83
8/31/2009 -1.54 5.67 7.94
9/30/2009 8.60 9.46 9.07
10/31/2009 5.03 7.17 9.61
11/30/2009 3.07 8.05 11.03
12/31/2009 4.67 8.42 9.29
1/31/2010 7.34 8.98 10.96
2/28/2010 8.09 10.04 11.38
3/31/2010 10.29 9.77 11.24
4/30/2010 12.66 11.11 12.40
5/31/2010 12.11 11.94 13.34
6/30/2010 11.23 12.01 15.12
7/31/2010 13.22 13.40 16.35
8/31/2010 16.50 16.00 17.85
9/30/2010 17.31 15.82 17.97
10/31/2010 18.51 15.50 18.39
11/30/2010 12.64 13.19 17.71
12/31/2010 8.56 11.00 16.44
1/31/2011 5.04 10.18 16.58
2/28/2011 7.47 11.93 16.87
3/31/2011 7.39 11.56 16.93
4/30/2011 9.11 13.56 18.42
5/31/2011 11.99 15.50 19.96
6/30/2011 14.26 15.90 19.61
7/31/2011 16.00 17.08 21.51
8/31/2011 16.30 19.09 23.29
9/30/2011 20.59 20.32 24.18
10/31/2011 20.28 19.87 24.32
11/30/2011 18.84 20.58 24.21
12/31/2011 21.89 22.87 25.57
1/31/2012 26.60 25.71 26.68
2/29/2012 28.07 25.84 26.65
3/31/2012 28.40 25.02 25.95
4/30/2012 30.27 26.46 27.35
5/31/2012 32.03 27.51 28.50
6/30/2012 32.21 27.37 28.55
7/31/2012 34.81 29.39 30.33
8/31/2012 35.27 29.54 30.41
9/30/2012 35.07 30.32 30.59
10/31/2012 35.69 30.69 30.85
11/30/2012 38.27 32.84 31.05
12/31/2012 35.66 31.20 30.87
1/31/2013 37.29 31.75 29.95
2/28/2013 37.82 32.15 30.60
3/31/2013 36.64 31.58 30.71
4/30/2013 38.39 33.02 32.03
5/31/2013 37.63 31.40 29.67
6/30/2013 31.25 27.68 27.67
7/31/2013 27.48 26.56 27.84
8/31/2013 21.00 24.75 27.19
9/30/2013 23.44 27.44 28.39
10/31/2013 24.99 28.44 29.43
11/30/2013 23.89 28.18 28.95
12/31/2013 21.95 27.85 28.22
1/31/2014 25.49 30.34 30.11
2/28/2014 29.49 31.87 30.80
3/31/2014 33.26 32.09 30.58
4/30/2014 34.55 33.68 31.68
5/31/2014 38.16 35.40 33.18
6/30/2014 36.13 35.52 33.25
7/31/2014 35.65 35.76 32.92
8/31/2014 39.87 37.40 34.39
9/30/2014 40.32 37.54 33.47
10/31/2014 40.07 38.48 34.78
11/30/2014 40.80 38.72 35.74
12/31/2014 41.76 39.42 35.87
1/31/2015 44.20 41.89 38.72
2/28/2015 42.92 40.43 37.41
3/31/2015 42.11 40.84 38.05
4/30/2015 41.25 40.10 37.56
5/31/2015 42.53 39.71 37.22
6/30/2015 38.45 39.58 35.73
7/31/2015 37.86 40.59 36.67
8/31/2015 37.90 40.87 36.48
9/30/2015 39.85 41.89 37.40
10/31/2015 40.72 42.46 37.42
11/30/2015 41.15 43.02 37.06
12/31/2015 41.94 44.03 36.62
1/31/2016 42.48 45.74 38.50
2/29/2016 43.55 45.97 39.48
3/31/2016 44.02 46.44 40.76
4/30/2016 44.54 47.51 41.30
5/31/2016 45.80 47.91 41.33
6/30/2016 50.09 50.27 43.87
7/31/2016 50.62 50.36 44.78
8/31/2016 51.04 50.56 44.62
9/30/2016 51.36 49.81 44.53
10/31/2016 50.56 48.24 43.43
11/30/2016 46.70 42.71 40.03
12/31/2016 46.66 44.38 40.23
1/31/2017 47.64 45.34 40.51
2/28/2017 49.27 46.34 41.45
3/31/2017 46.89 46.66 41.38
4/30/2017 47.62 47.73 42.47
5/31/2017 46.57 50.07 43.56
6/30/2017 46.06 49.53 43.42
7/31/2017 46.08 50.74 44.04
8/31/2017 47.03 51.89 45.33
9/30/2017 43.83 51.12 44.64
10/31/2017 38.77 51.49 44.72
11/30/2017 36.72 50.68 44.54
12/31/2017 37.19 52.25 45.20
1/31/2018 38.52 50.46 43.53
2/28/2018 41.02 50.01 42.17
3/31/2018 44.97 50.56 43.08
4/30/2018 47.00 50.02 42.01
5/31/2018 49.36 51.74 43.03
6/30/2018 52.83 51.87 42.85
7/31/2018 53.71 52.24 42.89
8/31/2018 57.03 52.63 43.80
Date Dividends
9/23/2008 0.0402
10/28/2008 0.0395
11/25/2008 0.0412
12/30/2008 0.0406
1/27/2009 0.0418
2/24/2009 0.0414
3/24/2009 0.0414
4/21/2009 0.0414
5/26/2009 0.0408
6/23/2009 0.0418
7/28/2009 0.0403
8/25/2009 0.0418
9/22/2009 0.0414
10/27/2009 0.0396
11/24/2009 0.0412
12/30/2009 0.0395
1/26/2010 0.0435
2/23/2010 0.0431
3/23/2010 0.0432
4/27/2010 0.0416
5/25/2010 0.043
6/22/2010 0.0431
7/27/2010 0.0437
8/24/2010 0.045
9/21/2010 0.0449
10/26/2010 0.0434
11/23/2010 0.045
12/30/2010 0.0433
1/25/2011 0.0462
2/22/2011 0.0456
3/22/2011 0.0455
4/26/2011 0.0452
5/24/2011 0.0465
6/21/2011 0.0464
7/26/2011 0.0449
8/23/2011 0.0462
9/27/2011 0.0448
10/25/2011 0.0462
11/22/2011 0.0461
12/29/2011 0.0439
1/24/2012 0.0469
2/21/2012 0.046
3/27/2012 0.0415
4/24/2012 0.0429
5/22/2012 0.0428
6/26/2012 0.0413
7/24/2012 0.0399
8/28/2012 0.0383
9/25/2012 0.0398
10/23/2012 0.0397
11/27/2012 0.0382
12/28/2012 0.0355
1/22/2013 0.0381
2/19/2013 0.0368
3/26/2013 0.0353
4/23/2013 0.0369
5/28/2013 0.0352
6/25/2013 0.0369
7/23/2013 0.0372
8/27/2013 0.036
9/24/2013 0.0377
10/22/2013 0.0376
11/26/2013 0.0362
12/30/2013 0.0363
1/28/2014 0.0376
2/25/2014 0.0377
3/25/2014 0.0375
4/22/2014 0.0374
5/27/2014 0.0359
6/24/2014 0.0373
7/22/2014 0.0377
8/26/2014 0.036
9/23/2014 0.0372
10/28/2014 0.0358
11/25/2014 0.0373
12/31/2014 0.0357
1/27/2015 0.0374
2/24/2015 0.0352
3/24/2015 0.0353
4/21/2015 0.0353
5/26/2015 0.034
6/23/2015 0.0354
7/28/2015 0.0342
8/25/2015 0.0356
9/22/2015 0.0356
10/27/2015 0.0342
11/24/2015 0.0336
12/31/2015 0.0318
1/26/2016 0.034
2/23/2016 0.0336
3/22/2016 0.0336
4/26/2016 0.0322
5/24/2016 0.0326
6/21/2016 0.0325
7/26/2016 0.031
8/23/2016 0.0294
9/27/2016 0.028
10/25/2016 0.0294
11/22/2016 0.0295
12/30/2016 0.0265
1/24/2017 0.0294
2/21/2017 0.0286
3/28/2017 0.0273
4/25/2017 0.0283
5/23/2017 0.0284
6/27/2017 0.0272
7/25/2017 0.0234
8/22/2017 0.0235
9/26/2017 0.0203
10/24/2017 0.0216
11/21/2017 0.0217
12/29/2017 0.018
1/23/2018 0.0205
2/20/2018 0.0197
3/27/2018 0.0156
4/24/2018 0.0166
5/22/2018 0.0165
6/26/2018 0.0153
7/24/2018 0.0164
8/28/2018 0.0151

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 09/17/2018

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

(105.7% of assets as of 08/31/2018)


Portfolio Holdings Breakdown

Asset Allocation
State
Credit Rating Allocation 8
Asset Allocation Rochester® New Jersey Municipal Fund Bloomberg Barclays Municipal Index Overweight / Underweight
Municipal 109.3% 100.0% 9.3%
State Rochester® New Jersey Municipal Fund Bloomberg Barclays Municipal Index Overweight / Underweight
New Jersey 76.5% 3.8% 72.7%
Puerto Rico 23.7% 0.3% 23.4%
Multistate Authority 7.2% 0.1% 7.1%
Northern Marianas 0.7% - -
New York 0.4% 15.5% -15.2%
Virgin Islands 0.4% 0.0% 0.4%
Guam 0.2% 0.2% 0.0%
Credit Rating Allocation Rochester® New Jersey Municipal Fund Bloomberg Barclays Municipal Index Overweight / Underweight
AAA 0.7% 22.3% -21.7%
AA 20.6% 53.9% -33.3%
A 26.8% 17.8% 9.0%
BBB 36.3% 4.8% 31.6%
BB 10.4% - -
B 0.7% - -
CCC 0.1% - -
CC 10.6% - -
C 1.3% - -
Unrated 1.7% 1.3% 0.5%
Analytics
(As of 08/31/2018)

Morningstar 08/31/2018 (based on risk adjusted performance)
Overall Rating
Number of Funds
47
Category
Muni New Jersey
Performance Statistics
3Y
5Y
Alpha
1.83
1.09
Beta
0.57
0.84
Information Ratio
0.21
0.11
R-Squared
15.25
26.24
Sharpe Ratio
0.61
0.80
Standard Deviation
4.82
5.16
Sortino Ratio
0.25
0.38
Tracking Error
4.62
4.45
Yields
Dividend Yield (with sales charge)
0.00%
Dividend Yield (w/o sales charge)
1.94%
Standardized Yield
1.25%
Interest Income 12/31/2017
Exposed to AMT
15.59%
Portfolio Characteristics
Fund
Fund Index
Average Effective Maturity
7.26 yrs
5.99 yrs
Current Duration
5.50 yrs
6.30 yrs
Turnover Ratio
9%
-
Dividends
  • D
Est. Frequency
Monthly
Last Pay Date
8/28/2018
Per Share ($)
$0.0151
12-Month Distribution ($)
$0.2173
Distribution Sources
  • D
Net Income
100.00%
Net Profit from Sale
0.00%
Other Capital Sources
0.00%
Tools
Morningstar logo 95x28 trans
Documents
  1. 1. Available to investors only in certain states.
  2. 2. A portion of a municipal bond fund’s distributions may be subject to the alternative minimum tax (AMT). Capital gains distributions are taxable as capital gains.
  3. 3. 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 substantially 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 is not the result of a fee waiver or expense reimbursement.
  5. 5. The net expense ratio represents the Fund's gross expense ratio less certain interest and related expenses from the Fund's investments in inverse floaters, as reported in the latest prospectus. Under accounting rules, the Fund recognized additional income in an amount that offsets these expenses; the Fund's total returns and net asset values are not affected by those offsets.
  6. 6. The Bloomberg Barclays Municipal Bond Index is an unmanaged index of a broad range of investment-grade municipal bonds that measures the performance of the general municipal bond market. Index performance is shown for illustrative purposes only and does not predict or depict performance of the Fund. Past performance does not guarantee future results.
  7. 7. Holdings are subject to change, and are dollar weighted based on total new 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. All securities except for those labeled "unrated" have been rated by at least one Nationally Recognized Statistical Rating Organization ("NRSRO"), such as S&P Global Ratings ("S&P").  For securities rated only by an NRSRO other than S&P, OppenheimerFunds, Inc. converts that rating to the equivalent S&P rating.  If two or more NRSROs have assigned a rating to a security, the highest rating is used. Unrated securities do not necessarily indicate low credit quality.  The credit rating table values may not total 100% due to rounding.  

    "Investment-grade" securities are securities rated within the NRSROs four highest rating categories (AAA, AA, A and BBB.)  Securities not rated by an NRSRO may or may not be equivalent of investment grade. For further details, please consult the Fund's Prospectus or Statement of Additional Information.
  9. 9. 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.
  10. 10. 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.
  11. 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.
  12. 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.
  13. 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.
  14. D. There is no guarantee of the payment of any dividend or other distributions at any level.
  15. E. 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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