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OROBX

Rochester® Ohio Municipal Fund

Special Notice

On December 1, it was announced that the Board of Trustees approved a plan to liquidate the Fund. Please see footnotes on the bottom of this page and the prospectus for more information.

A special distribution was made on Monday December 4th to pay undistributed surplus investment income, if any, and to convert the Fund from a managed payout to a variable payout for the extent of the liquidation.

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 Ohio municipal bonds.

Inception Date
June 21, 2006
Investment Style
Single-State
Fund Index
Bloomberg Barclays Municipal Index
CUSIP
68383E202
NAV
  • B
(as of 04/19/2018)
$9.06
Total Assets
(as of 03/31/2018)
$29.07 MM
Gross Expense Ratio
(as of 03/29/2018)
2.05%
Net Expense Ratio
(as of 03/29/2018)
1.76%
Performance
Average Annual Total Returns
Cumulative Returns
Calendar Year Returns
Capital Gains Distributions
as of 03/31/2018
  • C
as of 03/31/2018
  • C

Include Sales Charge
Include Sales Charge
Include Sales Charge
Include Sales Charge
  • C
Cumulative
Annualized
ytd as of 2018-03-31
  • D
1 yr 3 yr 5 yr 10 yr since inception
Rochester® Ohio Municipal Fund (NAV)
-3.29% -6.17% -0.53% 0.65% 2.85% 2.13%
Bloomberg Barclays Municipal Index
-1.11% 2.66% 2.25% 2.73% 4.40% 4.35%
Cumulative
Annualized
ytd as of 2018-03-31
  • D
1 yr 3 yr 5 yr 10 yr since inception
Rochester® Ohio Municipal Fund (with sales charge)
-8.11% -10.72% -1.42% 0.31% 2.85% 2.13%
Bloomberg Barclays Municipal Index
-1.11% 2.66% 2.25% 2.73% 4.40% 4.35%
Cumulative
Annualized
ytd as of 2018-03-31
  • D
1 yr 3 yr 5 yr 10 yr since inception
Rochester® Ohio Municipal Fund (NAV)
-3.29% -6.17% -0.53% 0.65% 2.85% 2.13%
Bloomberg Barclays Municipal Index
-1.11% 2.66% 2.25% 2.73% 4.40% 4.35%
Cumulative
Annualized
ytd as of 2018-03-31
  • D
1 yr 3 yr 5 yr 10 yr since inception
Rochester® Ohio Municipal Fund (with sales charge)
-8.11% -10.72% -1.42% 0.31% 2.85% 2.13%
Bloomberg Barclays Municipal Index
-1.11% 2.66% 2.25% 2.73% 4.40% 4.35%
Gross Expense Ratio: 2.05% | Net Expense Ratio: 1.66%

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.


Year Rochester® Ohio Municipal Fund Bloomberg Barclays Municipal Index
2007 -3.72% 3.36%
2008 -34.94% -2.47%
2009 37.50% 12.91%
2010 3.29% 2.38%
2011 9.95% 10.70%
2012 12.61% 6.78%
2013 -8.71% -2.55%
2014 13.75% 9.05%
2015 2.10% 3.30%
2016 2.40% 0.25%
2017 -1.65% 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 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.


Date Rochester® Ohio Municipal Fund Bloomberg Barclays Municipal Index BBG Barclays Agg
3/31/2008 0.00 0.00 0.00
4/30/2008 1.47 1.17 -0.21
5/31/2008 2.13 1.78 -0.94
6/30/2008 0.72 0.63 -1.02
7/31/2008 -0.88 1.02 -1.10
8/31/2008 0.41 2.20 -0.16
9/30/2008 -8.68 -2.60 -1.50
10/31/2008 -20.75 -3.59 -3.83
11/30/2008 -21.68 -3.28 -0.70
12/31/2008 -29.21 -1.87 3.01
1/31/2009 -24.63 1.72 2.10
2/28/2009 -23.25 2.25 1.71
3/31/2009 -24.98 2.27 3.13
4/30/2009 -21.41 4.32 3.62
5/31/2009 -14.15 5.42 4.37
6/30/2009 -16.78 4.43 4.96
7/31/2009 -16.51 6.18 6.66
8/31/2009 -10.19 7.99 7.76
9/30/2009 -1.45 11.87 8.89
10/31/2009 -4.19 9.52 9.43
11/30/2009 -4.70 10.43 10.85
12/31/2009 -2.67 10.80 9.12
1/31/2010 -1.69 11.38 10.78
2/28/2010 -0.91 12.46 11.20
3/31/2010 -0.83 12.19 11.06
4/30/2010 1.48 13.55 12.22
5/31/2010 1.65 14.40 13.16
6/30/2010 1.52 14.47 14.93
7/31/2010 2.65 15.90 16.16
8/31/2010 5.68 18.55 17.66
9/30/2010 6.76 18.36 17.78
10/31/2010 7.49 18.04 18.20
11/30/2010 3.15 15.68 17.52
12/31/2010 0.54 13.43 16.25
1/31/2011 -1.35 12.60 16.39
2/28/2011 0.49 14.39 16.68
3/31/2011 0.46 14.01 16.74
4/30/2011 1.85 16.05 18.23
5/31/2011 3.95 18.04 19.77
6/30/2011 6.04 18.45 19.42
7/31/2011 7.86 19.66 21.31
8/31/2011 8.37 21.70 23.09
9/30/2011 10.33 22.96 23.98
10/31/2011 9.78 22.50 24.11
11/30/2011 8.42 23.23 24.01
12/31/2011 10.54 25.57 25.37
1/31/2012 14.79 28.48 26.47
2/29/2012 15.94 28.60 26.44
3/31/2012 16.40 27.77 25.75
4/30/2012 18.02 29.24 27.14
5/31/2012 19.52 30.31 28.29
6/30/2012 19.63 30.17 28.34
7/31/2012 22.35 32.24 30.11
8/31/2012 22.78 32.39 30.20
9/30/2012 22.98 33.19 30.38
10/31/2012 24.00 33.56 30.63
11/30/2012 26.43 35.76 30.84
12/31/2012 24.48 34.09 30.65
1/31/2013 25.36 34.64 29.74
2/28/2013 25.50 35.05 30.39
3/31/2013 24.47 34.47 30.49
4/30/2013 26.04 35.94 31.82
5/31/2013 25.37 34.28 29.46
6/30/2013 19.17 30.48 27.46
7/31/2013 16.21 29.34 27.64
8/31/2013 11.56 27.49 26.98
9/30/2013 14.22 30.24 28.18
10/31/2013 15.62 31.27 29.22
11/30/2013 15.29 31.00 28.74
12/31/2013 13.64 30.66 28.01
1/31/2014 17.74 33.21 29.90
2/28/2014 20.97 34.77 30.59
3/31/2014 21.46 35.00 30.37
4/30/2014 22.98 36.62 31.47
5/31/2014 25.80 38.38 32.97
6/30/2014 24.41 38.50 33.04
7/31/2014 24.01 38.74 32.70
8/31/2014 27.61 40.42 34.17
9/30/2014 27.91 40.56 33.26
10/31/2014 28.46 41.53 34.57
11/30/2014 29.12 41.77 35.52
12/31/2014 30.10 42.49 35.65
1/31/2015 32.65 45.01 38.49
2/28/2015 31.58 43.52 37.19
3/31/2015 31.68 43.93 37.83
4/30/2015 30.98 43.18 37.33
5/31/2015 31.52 42.78 37.00
6/30/2015 28.89 42.65 35.51
7/31/2015 29.85 43.68 36.45
8/31/2015 29.29 43.97 36.25
9/30/2015 31.18 45.01 37.17
10/31/2015 32.51 45.59 37.20
11/30/2015 32.68 46.16 36.83
12/31/2015 33.83 47.19 36.39
1/31/2016 34.51 48.95 38.27
2/29/2016 35.52 49.18 39.25
3/31/2016 37.07 49.65 40.53
4/30/2016 38.25 50.76 41.07
5/31/2016 39.16 51.16 41.10
6/30/2016 42.45 53.57 43.64
7/31/2016 42.57 53.66 44.55
8/31/2016 42.87 53.87 44.38
9/30/2016 42.81 53.10 44.30
10/31/2016 41.63 51.49 43.19
11/30/2016 36.80 45.84 39.81
12/31/2016 38.07 47.56 40.00
1/31/2017 39.32 48.53 40.28
2/28/2017 40.97 49.56 41.22
3/31/2017 40.21 49.89 41.15
4/30/2017 41.49 50.97 42.24
5/31/2017 42.05 53.37 43.33
6/30/2017 41.24 52.82 43.19
7/31/2017 40.95 54.06 43.80
8/31/2017 41.34 55.23 45.09
9/30/2017 39.75 54.44 44.40
10/31/2017 36.39 54.82 44.49
11/30/2017 36.14 53.99 44.30
12/31/2017 36.81 55.60 44.96
1/31/2018 36.07 53.76 43.29
2/28/2018 32.53 53.31 41.93
3/29/2018 32.57
Date Dividends
4/22/2008 0.0474
5/27/2008 0.0466
6/24/2008 0.0483
7/22/2008 0.0485
8/26/2008 0.0469
9/23/2008 0.0483
10/28/2008 0.0481
11/25/2008 0.0499
12/30/2008 0.049
1/27/2009 0.0505
2/24/2009 0.0503
3/24/2009 0.0503
4/21/2009 0.0504
5/26/2009 0.0488
6/23/2009 0.0499
7/28/2009 0.0487
8/25/2009 0.0499
9/22/2009 0.0495
10/27/2009 0.0477
11/24/2009 0.0491
12/30/2009 0.0463
1/26/2010 0.0512
2/23/2010 0.0493
3/23/2010 0.0462
4/27/2010 0.0448
5/25/2010 0.0461
6/22/2010 0.0461
7/27/2010 0.0447
8/24/2010 0.0461
9/21/2010 0.046
10/26/2010 0.0445
11/23/2010 0.0461
12/30/2010 0.0443
1/25/2011 0.0471
2/22/2011 0.0465
3/22/2011 0.0465
4/26/2011 0.0452
5/24/2011 0.0465
6/21/2011 0.0463
7/26/2011 0.0448
8/23/2011 0.0462
9/27/2011 0.0447
10/25/2011 0.0462
11/22/2011 0.0462
12/29/2011 0.0439
1/24/2012 0.047
2/21/2012 0.046
3/27/2012 0.0445
4/24/2012 0.0439
5/22/2012 0.0439
6/26/2012 0.0423
7/24/2012 0.0439
8/28/2012 0.0372
9/25/2012 0.0388
10/23/2012 0.0388
11/27/2012 0.0372
12/28/2012 0.0334
1/22/2013 0.0361
2/19/2013 0.0347
3/26/2013 0.0332
4/23/2013 0.0348
5/28/2013 0.0332
6/25/2013 0.0349
7/23/2013 0.0352
8/27/2013 0.0338
9/24/2013 0.0364
10/22/2013 0.0365
11/26/2013 0.036
12/30/2013 0.0361
1/28/2014 0.0374
2/25/2014 0.0393
3/25/2014 0.0392
4/22/2014 0.0392
5/27/2014 0.0376
6/24/2014 0.0391
7/22/2014 0.0392
8/26/2014 0.0378
9/23/2014 0.0391
10/28/2014 0.0376
11/25/2014 0.0391
12/31/2014 0.0374
1/27/2015 0.0392
2/24/2015 0.039
3/24/2015 0.039
4/21/2015 0.039
5/26/2015 0.0376
6/23/2015 0.0391
7/28/2015 0.0378
8/25/2015 0.0393
9/22/2015 0.0393
10/27/2015 0.0367
11/24/2015 0.0382
12/31/2015 0.0364
1/26/2016 0.0386
2/23/2016 0.0382
3/22/2016 0.0381
4/26/2016 0.0357
5/24/2016 0.0371
6/21/2016 0.0371
7/26/2016 0.0355
8/23/2016 0.034
9/27/2016 0.0325
10/25/2016 0.0341
11/22/2016 0.0341
12/30/2016 0.0319
1/24/2017 0.0351
2/21/2017 0.0342
3/28/2017 0.0328
4/25/2017 0.0322
5/23/2017 0.0322
6/27/2017 0.0308
7/25/2017 0.0303
8/22/2017 0.0303
9/26/2017 0.0259
10/24/2017 0.0275
11/21/2017 0.0276
12/4/2017 0.0205
12/29/2017 0.0059
1/23/2018 0.0023
2/20/2018 0.0004
3/27/2018 0.0154

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 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.

$ per share as of 04/19/2018

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

(69.9% of assets as of 03/31/2018)


Portfolio Holdings Breakdown

Asset Allocation
State
Credit Rating Allocation
Asset Allocation Rochester® Ohio Municipal Fund Bloomberg Barclays Municipal Index Overweight / Underweight
Municipal 69.9% 100.0% -30.1%
State Rochester® Ohio Municipal Fund Bloomberg Barclays Municipal Index Overweight / Underweight
Ohio 57.6% 2.4% 55.2%
Credit Rating Allocation Rochester® Ohio Municipal Fund Bloomberg Barclays Municipal Index Overweight / Underweight
AAA 10.7% 21.9% -11.2%
AA 48.4% 55.1% -6.6%
A 9.7% 18.0% -8.3%
Unrated 1.0% 0.0% 1.0%
Analytics
(As of 03/31/2018)

Morningstar 03/31/2018 (based on risk adjusted performance)
Overall Rating
Number of Funds
37
Category
Muni Ohio
Performance Statistics
3Y
5Y
Alpha
-2.58
-2.64
Beta
0.91
1.28
Information Ratio
-0.95
-0.64
R-Squared
51.34
68.57
Sharpe Ratio
-0.24
0.08
Standard Deviation
4.11
5.50
Sortino Ratio
-0.09
0.03
Tracking Error
2.92
3.26
Dividends
  • E
Est. Frequency
Monthly
Last Pay Date
3/27/2018
Per Share ($)
$0.0154
12-Month Distribution ($)
$0.2814
Portfolio Characteristics
Fund
Fund Index
Average Effective Maturity
1.18 yrs
5.98 yrs
Current Duration
1.00 yrs
6.30 yrs
Turnover Ratio
5.00%
-
Distribution Sources
  • E
Net Income
100.00%
Net Profit from Sale
0.00%
Other Capital Sources
0.00%
Interest Income 12/31/2017
Exposed to AMT
9.83%
Team
Tools
Morningstar logo 95x28 trans
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. Existing shareholders can continue to purchase shares in the following types of retirement plans and accounts: defined contribution plans, including 401(k) (including “Single K”), 403(b) custodial plans, and pension and profit sharing plans; defined benefit plans; and SIMPLE IRAs and SEP IRAs until February 9, 2018. The Funds reserve the right, in their discretion, to modify the extent to which sales of shares are limited prior to the Funds’ liquidation. Existing shareholders can continue to purchase shares through dividend and capital gain reinvestment.
  3. 3. The Board of Trustees has approved a plan to liquidate the Fund, to take place on or about May 18, 2018 (the “Liquidation Date”).  Any shares of the Fund outstanding on the Liquidation Date will be automatically redeemed.  Subject to certain exceptions, redemptions made beginning January 12, 2018 through the Liquidation Date will not be subject to any contingent deferred sales charges. Shareholders should consult their tax advisors for information about the tax consequences of the liquidation.  In order to provide for an orderly liquidation and satisfy redemptions in anticipation of the Liquidation Date, the Fund may deviate from its investment objectives and strategies as the Liquidation date approaches.
  4. 4. 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 substantially in Puerto Rico and other U.S. territories, commonwealths and possessions, and could be exposed to their local political and economic conditions. 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.
  5. 5. 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.
  6. 6. 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.
  7. 7. Access index definitions.
  8. 8. 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.
  9. A. 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.
  10. B. 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. C. 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.
  12. D. "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. E. There is no guarantee of the payment of any dividend or other distributions at any level.
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