Securities issued in Puerto Rico have historically helped Oppenheimer Rochester deliver high levels of tax-free income to the shareholders in many of our 20 muni bond funds. Our funds hold a large and diverse set of bonds from Puerto Rico, many of which offer very attractive yields and all of which are exempt from federal, state and local income taxes for individual investors.

Much has been written about political, economic and fiscal developments in the Commonwealth of Puerto Rico, and some analysts and journalists have raised questions about the securities issued on island. Credit rating agencies have also weighed in, recently with downgrades. In turn, the market has reacted.

Over the years, however, we have seen the Puerto Rico securities held by our funds deliver highly competitive levels of tax-free income and what we believe to be high value relative to the risk they incur. We hope our shareholders have seen this, too.

As part of our commitment to our shareholders, our team believes in providing frequent updates on news and market developments that may affect our holdings. You may want to bookmark this page, which will feature our latest thinking about Puerto Rico. We know that many different opinions exist and thus encourage investors to consider all the opinions and facts before making any investment decision.