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OMFCX

Rochester® AMT-Free Municipal Fund

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Overview

The Strategy typically invests in municipal bonds of issuers across the United States.

Inception Date
August 29, 1995
Investment Style
National
Fund Index
Bloomberg Barclays Municipal Index
CUSIP
683977300
NAV
  • A
(as of 05/23/2018)
$6.93
Total Assets
(as of 04/30/2018)
$1.88 BN
Gross Expense Ratio
(as of 04/30/2018)
1.78%
Net Expense Ratio
(as of 04/30/2018)
1.78%
Performance
Average Annual Total Returns
Cumulative Returns
Calendar Year Returns
Capital Gains Distributions
as of 04/30/2018
  • B
as of 03/31/2018
  • B

Include Sales Charge
Include Sales Charge
Include Sales Charge
Include Sales Charge
  • B
Cumulative
Annualized
ytd as of 2018-03-31
  • C
1 yr 3 yr 5 yr 10 yr since inception
Rochester® AMT-Free Municipal Fund (NAV)
2.11% 1.51% 4.06% 3.76% 3.70% 3.58%
Bloomberg Barclays Municipal Index
-1.11% 2.66% 2.25% 2.73% 4.40% -
Cumulative
Annualized
ytd as of 2018-03-31
  • C
1 yr 3 yr 5 yr 10 yr since inception
Rochester® AMT-Free Municipal Fund (with sales charge)
1.11% 0.53% 4.06% 3.76% 3.70% 3.58%
Bloomberg Barclays Municipal Index
-1.11% 2.66% 2.25% 2.73% 4.40% -
Cumulative
Annualized
ytd as of 2018-04-30
  • C
1 yr 3 yr 5 yr 10 yr since inception
Rochester® AMT-Free Municipal Fund (NAV)
3.30% 1.90% 4.72% 3.67% 3.66% 3.62%
Bloomberg Barclays Municipal Index
-1.46% 1.56% 2.31% 2.44% 4.25% -
Cumulative
Annualized
ytd as of 2018-04-30
  • C
1 yr 3 yr 5 yr 10 yr since inception
Rochester® AMT-Free Municipal Fund (with sales charge)
2.30% 0.92% 4.72% 3.67% 3.66% 3.62%
Bloomberg Barclays Municipal Index
-1.46% 1.56% 2.31% 2.44% 4.25% -
Gross Expense Ratio: 1.78% | 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® AMT-Free Municipal Fund Bloomberg Barclays Municipal Index
1996 4.35% 4.43%
1997 8.56% 9.19%
1998 5.14% 6.48%
1999 -5.74% -2.06%
2000 7.06% 11.68%
2001 1.69% 5.13%
2002 7.12% 9.60%
2003 6.86% 5.31%
2004 7.88% 4.48%
2005 6.93% 3.51%
2006 6.61% 4.84%
2007 -9.74% 3.36%
2008 -42.19% -2.47%
2009 41.85% 12.91%
2010 -0.47% 2.38%
2011 15.40% 10.70%
2012 18.18% 6.78%
2013 -7.42% -2.55%
2014 14.72% 9.05%
2015 4.43% 3.30%
2016 1.60% 0.25%
2017 5.37% 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® AMT-Free Municipal Fund Bloomberg Barclays Municipal Index BBG Barclays Agg
4/30/2008 0.00 0.00 0.00
5/31/2008 0.64 0.61 -0.73
6/30/2008 -2.74 -0.53 -0.81
7/31/2008 -4.19 -0.15 -0.89
8/31/2008 -2.90 1.02 0.05
9/30/2008 -13.46 -3.72 -1.30
10/31/2008 -27.73 -4.70 -3.63
11/30/2008 -30.85 -4.40 -0.49
12/31/2008 -39.27 -3.01 3.22
1/31/2009 -35.41 0.54 2.31
2/28/2009 -34.15 1.07 1.93
3/31/2009 -36.03 1.09 3.34
4/30/2009 -32.03 3.11 3.84
5/31/2009 -25.75 4.20 4.59
6/30/2009 -28.61 3.22 5.18
7/31/2009 -27.45 4.95 6.88
8/31/2009 -20.53 6.75 7.99
9/30/2009 -10.96 10.58 9.12
10/31/2009 -14.83 8.26 9.66
11/30/2009 -15.72 9.15 11.08
12/31/2009 -13.85 9.52 9.34
1/31/2010 -12.90 10.09 11.01
2/28/2010 -12.02 11.16 11.43
3/31/2010 -12.21 10.89 11.29
4/30/2010 -9.98 12.24 12.45
5/31/2010 -10.21 13.08 13.40
6/30/2010 -11.16 13.15 15.17
7/31/2010 -10.17 14.56 16.40
8/31/2010 -6.72 17.18 17.90
9/30/2010 -6.41 17.00 18.03
10/31/2010 -5.72 16.67 18.45
11/30/2010 -11.01 14.34 17.77
12/31/2010 -14.26 12.12 16.50
1/31/2011 -17.04 11.30 16.63
2/28/2011 -14.85 13.07 16.92
3/31/2011 -15.27 12.69 16.99
4/30/2011 -13.39 14.71 18.47
5/31/2011 -10.70 16.67 20.02
6/30/2011 -8.62 17.08 19.67
7/31/2011 -6.42 18.27 21.57
8/31/2011 -6.40 20.30 23.34
9/30/2011 -4.02 21.54 24.24
10/31/2011 -3.84 21.09 24.37
11/30/2011 -3.70 21.80 24.27
12/31/2011 -1.06 24.12 25.63
1/31/2012 3.68 26.99 26.73
2/29/2012 4.74 27.12 26.71
3/31/2012 4.86 26.29 26.01
4/30/2012 7.22 27.75 27.41
5/31/2012 9.26 28.81 28.56
6/30/2012 9.68 28.67 28.61
7/31/2012 13.15 30.71 30.39
8/31/2012 13.93 30.86 30.47
9/30/2012 14.86 31.65 30.65
10/31/2012 16.15 32.02 30.91
11/30/2012 19.45 34.19 31.11
12/31/2012 16.93 32.54 30.93
1/31/2013 18.34 33.09 30.01
2/28/2013 18.59 33.49 30.66
3/31/2013 17.86 32.91 30.77
4/30/2013 19.79 34.37 32.09
5/31/2013 19.39 32.73 29.73
6/30/2013 12.14 28.97 27.73
7/31/2013 9.49 27.84 27.90
8/31/2013 5.96 26.02 27.25
9/30/2013 8.94 28.73 28.45
10/31/2013 10.12 29.75 29.49
11/30/2013 9.36 29.48 29.01
12/31/2013 8.25 29.15 28.28
1/31/2014 11.71 31.67 30.17
2/28/2014 14.94 33.21 30.87
3/31/2014 15.46 33.44 30.64
4/30/2014 17.17 35.04 31.75
5/31/2014 20.06 36.78 33.24
6/30/2014 18.86 36.90 33.31
7/31/2014 18.89 37.14 32.98
8/31/2014 21.82 38.80 34.45
9/30/2014 22.69 38.94 33.53
10/31/2014 22.31 39.89 34.85
11/30/2014 23.19 40.13 35.80
12/31/2014 24.18 40.84 35.93
1/31/2015 26.44 43.34 38.78
2/28/2015 25.56 41.86 37.48
3/31/2015 25.80 42.27 38.11
4/30/2015 24.90 41.52 37.62
5/31/2015 25.05 41.13 37.29
6/30/2015 23.06 41.00 35.79
7/31/2015 23.61 42.02 36.73
8/31/2015 24.57 42.30 36.54
9/30/2015 26.45 43.33 37.46
10/31/2015 28.28 43.90 37.48
11/30/2015 28.85 44.48 37.12
12/31/2015 29.69 45.49 36.68
1/31/2016 30.36 47.23 38.56
2/29/2016 31.14 47.46 39.54
3/31/2016 32.30 47.92 40.82
4/30/2016 32.79 49.01 41.36
5/31/2016 33.79 49.42 41.40
6/30/2016 36.66 51.79 43.94
7/31/2016 37.15 51.89 44.85
8/31/2016 37.50 52.09 44.68
9/30/2016 37.56 51.33 44.60
10/31/2016 36.58 49.74 43.49
11/30/2016 31.20 44.16 40.10
12/31/2016 31.77 45.85 40.30
1/31/2017 32.40 46.81 40.57
2/28/2017 34.85 47.83 41.52
3/31/2017 39.66 48.15 41.44
4/30/2017 40.75 49.23 42.53
5/31/2017 42.43 51.60 43.63
6/30/2017 41.41 51.05 43.49
7/31/2017 41.52 52.28 44.10
8/31/2017 42.19 53.43 45.40
9/30/2017 40.52 52.65 44.70
10/31/2017 38.55 53.03 44.79
11/30/2017 37.32 52.21 44.60
12/31/2017 38.84 53.80 45.27
1/31/2018 38.98 51.99 43.59
2/28/2018 39.15 51.53 42.23
3/31/2018 41.77 52.09 43.14
4/30/2018 43.43 51.55 42.08
Date Dividends
5/27/2008 0.0369
6/24/2008 0.0382
7/22/2008 0.0383
8/26/2008 0.0373
9/23/2008 0.0384
10/28/2008 0.0382
11/25/2008 0.0395
12/30/2008 0.0391
1/27/2009 0.0401
2/24/2009 0.0399
3/24/2009 0.0399
4/21/2009 0.0399
5/26/2009 0.0388
6/23/2009 0.0395
7/28/2009 0.0388
8/25/2009 0.0396
9/22/2009 0.0393
10/27/2009 0.0331
11/24/2009 0.0343
12/30/2009 0.0331
1/26/2010 0.0344
2/23/2010 0.0342
3/23/2010 0.0342
4/27/2010 0.0333
5/25/2010 0.0322
6/22/2010 0.0322
7/27/2010 0.0313
8/24/2010 0.0322
9/21/2010 0.0321
10/26/2010 0.0311
11/23/2010 0.0302
12/30/2010 0.0292
1/25/2011 0.031
2/22/2011 0.0306
3/22/2011 0.0305
4/26/2011 0.0295
5/24/2011 0.0302
6/21/2011 0.0302
7/26/2011 0.0293
8/23/2011 0.0302
9/27/2011 0.0293
10/25/2011 0.0302
11/22/2011 0.0302
12/29/2011 0.0287
1/24/2012 0.0306
2/21/2012 0.03
3/27/2012 0.0291
4/24/2012 0.03
5/22/2012 0.0299
6/26/2012 0.0288
7/24/2012 0.0299
8/28/2012 0.0288
9/25/2012 0.0298
10/23/2012 0.0296
11/27/2012 0.0286
12/28/2012 0.0268
1/22/2013 0.0286
2/19/2013 0.0277
3/26/2013 0.0267
4/23/2013 0.0277
5/28/2013 0.0265
6/25/2013 0.0278
7/23/2013 0.0279
8/27/2013 0.0271
9/24/2013 0.0292
10/22/2013 0.0291
11/26/2013 0.0281
12/30/2013 0.0282
1/28/2014 0.0292
2/25/2014 0.0292
3/25/2014 0.0291
4/22/2014 0.0291
5/27/2014 0.0291
6/24/2014 0.03
7/22/2014 0.0301
8/26/2014 0.0291
9/23/2014 0.03
10/28/2014 0.029
11/25/2014 0.031
12/31/2014 0.0298
1/27/2015 0.0311
2/24/2015 0.0309
3/24/2015 0.031
4/21/2015 0.031
5/26/2015 0.03
6/23/2015 0.0311
7/28/2015 0.0301
8/25/2015 0.0311
9/22/2015 0.0311
10/27/2015 0.0301
11/24/2015 0.031
12/31/2015 0.0298
1/26/2016 0.0303
2/23/2016 0.03
3/22/2016 0.03
4/26/2016 0.029
5/24/2016 0.029
6/21/2016 0.029
7/26/2016 0.0279
8/23/2016 0.0269
9/27/2016 0.0259
10/25/2016 0.0269
11/22/2016 0.027
12/30/2016 0.0236
1/24/2017 0.0257
2/21/2017 0.0251
3/28/2017 0.0241
4/25/2017 0.0229
5/23/2017 0.0229
6/27/2017 0.0219
7/25/2017 0.0229
8/22/2017 0.0229
9/26/2017 0.0199
10/24/2017 0.021
11/21/2017 0.0211
12/29/2017 0.0184
1/23/2018 0.0208
2/20/2018 0.0201
3/27/2018 0.0181
4/24/2018 0.0189
5/22/2018 0.019

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 05/23/2018

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

(101.0% of assets as of 04/30/2018)


Portfolio Holdings Breakdown

Asset Allocation
State
Credit Rating Allocation 7
Asset Allocation Rochester® AMT-Free Municipal Fund Bloomberg Barclays Municipal Index Overweight / Underweight
Municipal 107.7% 100.0% 7.7%
State Rochester® AMT-Free Municipal Fund Bloomberg Barclays Municipal Index Overweight / Underweight
California 10.8% 17.3% -6.5%
Puerto Rico 9.7% 0.3% 9.4%
New York 9.5% 15.4% -6.0%
Pennsylvania 6.4% 3.8% 2.6%
Florida 6.1% 4.5% 1.6%
New Jersey 6.1% 3.7% 2.3%
Illinois 5.7% 4.5% 1.2%
Alabama 5.3% 0.8% 4.5%
Ohio 5.1% 2.4% 2.7%
Texas 4.1% 9.3% -5.2%
Michigan 3.3% 1.7% 1.6%
Louisiana 2.7% 1.1% 1.6%
Washington 2.6% 3.2% -0.5%
Arizona 2.4% 1.7% 0.7%
Wisconsin 2.3% 1.4% 0.9%
Colorado 2.3% 1.7% 0.6%
Kentucky 1.6% 0.7% 0.9%
Virginia 1.6% 2.0% -0.4%
Massachusetts 1.5% 4.0% -2.5%
Indiana 1.5% 0.9% 0.6%
Credit Rating Allocation Rochester® AMT-Free Municipal Fund Bloomberg Barclays Municipal Index Overweight / Underweight
AAA 3.1% 21.9% -18.7%
AA 32.8% 55.1% -22.3%
A 24.9% 18.0% 6.9%
BBB 15.2% 4.9% 10.3%
BB 2.0% 0.0% 2.0%
B 1.3% - -
CCC 1.0% - -
CC 7.7% - -
C 0.4% - -
Unrated 19.2% 0.1% 19.0%
Analytics
(As of 04/30/2018)

Morningstar 04/30/2018 (based on risk adjusted performance)
Overall Rating
Number of Funds
146
Category
High Yield Muni
Performance Statistics
3Y
5Y
Alpha
2.51
0.68
Beta
0.92
1.30
Information Ratio
0.76
0.36
R-Squared
47.82
66.49
Sharpe Ratio
0.94
0.60
Standard Deviation
4.36
5.68
Sortino Ratio
0.42
0.24
Tracking Error
3.16
3.45
Dividends
  • D
Est. Frequency
Monthly
Last Pay Date
5/22/2018
Per Share ($)
$0.0190
12-Month Distribution ($)
$0.2489
Portfolio Characteristics
Fund
Fund Index
Average Effective Maturity
8.92 yrs
5.97 yrs
Current Duration
7.10 yrs
6.30 yrs
Turnover Ratio
25.00%
-
Yields
Dividend Yield (with sales charge)
0.00%
Dividend Yield (w/o sales charge)
3.29%
Standardized Yield
2.24%
Distribution Sources
  • D
Net Income
100.00%
Net Profit from Sale
0.00%
Other Capital Sources
0.00%
Interest Income 12/31/2017
Exposed to AMT
0.0%
Team
Documents
  1. 1. A portion of the Fund's distributions may be subject to tax.  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. 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. 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.
  3. 3. 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.
  4. 4. The net expense ratio is not the result of a fee waiver or expense reimbursement.
  5. 5. Access index definitions.
  6. 6. 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.
  7. 7. 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.
  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 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.
  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.
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