Spoof Access

×
U.S. Flag United States
Individual Investor
×
ORBZX

Rochester®® Arizona 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.

×
Overview

The Strategy typically invests in Arizona municipal bonds.

Inception Date
October 10, 2006
Investment Style
Single-State
Fund Index
Bloomberg Barclays Municipal Index
CUSIP
683821201
NAV
  • A
(as of 01/17/2018)
$9.52
Total Assets
(as of 12/31/2017)
$23.80 MM
Gross Expense Ratio
(as of 12/31/2017)
2.42%
Net Expense Ratio
(as of 12/31/2017)
1.93%
Performance
Average Annual Total Returns
Cumulative Returns
Calendar Year Returns
Capital Gains Distributions
as of 12/31/2017
  • F
as of 12/31/2017
  • F

Include Sales Charge
Include Sales Charge
Include Sales Charge
Include Sales Charge
  • F
Cumulative
Annualized
ytd as of 2017-12-31
  • C
1 yr 3 yr 5 yr 10 yr since inception
Rochester® Arizona Municipal Fund (NAV)
-3.83% -3.83% -0.57% -0.33% 1.94% 1.82%
Bloomberg Barclays Municipal Index
5.45% 5.45% 2.98% 3.02% 4.46% 4.39%
Cumulative
Annualized
ytd as of 2017-12-31
  • C
1 yr 3 yr 5 yr 10 yr since inception
Rochester® Arizona Municipal Fund (with sales charge)
-8.43% -8.43% -1.46% -0.65% 1.94% 1.82%
Bloomberg Barclays Municipal Index
5.45% 5.45% 2.98% 3.02% 4.46% 4.39%
Cumulative
Annualized
ytd as of 2017-12-31
  • C
1 yr 3 yr 5 yr 10 yr since inception
Rochester® Arizona Municipal Fund (NAV)
-3.83% -3.83% -0.57% -0.33% 1.94% 1.82%
Bloomberg Barclays Municipal Index
5.45% 5.45% 2.98% 3.02% 4.46% 4.39%
Cumulative
Annualized
ytd as of 2017-12-31
  • C
1 yr 3 yr 5 yr 10 yr since inception
Rochester® Arizona Municipal Fund (with sales charge)
-8.43% -8.43% -1.46% -0.65% 1.94% 1.82%
Bloomberg Barclays Municipal Index
5.45% 5.45% 2.98% 3.02% 4.46% 4.39%
Gross Expense Ratio: 2.42% | Net Expense Ratio: 1.93%

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® Arizona Municipal Fund Bloomberg Barclays Municipal Index
2007 -3.87% 3.36%
2008 -36.21% -2.47%
2009 41.58% 12.91%
2010 3.86% 2.38%
2011 14.43% 10.70%
2012 11.41% 6.78%
2013 -11.94% -2.55%
2014 13.63% 9.05%
2015 -2.06% 3.30%
2016 4.36% 0.25%
2017 -3.83% 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® Arizona Municipal Fund Bloomberg Barclays Municipal Index BBG Barclays Agg
12/31/2007 0.00 0.00 0.00
1/31/2008 -0.01 1.26 1.68
2/29/2008 -8.06 -3.37 1.82
3/31/2008 -6.17 -0.61 2.17
4/30/2008 -4.81 0.55 1.95
5/31/2008 -3.09 1.16 1.21
6/30/2008 -4.48 0.02 1.13
7/31/2008 -5.18 0.40 1.04
8/31/2008 -4.13 1.57 2.00
9/30/2008 -13.05 -3.19 0.63
10/31/2008 -25.30 -4.18 -1.74
11/30/2008 -26.92 -3.88 1.45
12/31/2008 -35.71 -2.47 5.24
1/31/2009 -32.99 1.10 4.31
2/28/2009 -31.64 1.63 3.92
3/31/2009 -31.63 1.65 5.36
4/30/2009 -28.28 3.68 5.87
5/31/2009 -24.46 4.77 6.63
6/30/2009 -25.39 3.79 7.24
7/31/2009 -23.50 5.53 8.97
8/31/2009 -20.55 7.33 10.10
9/30/2009 -7.16 11.18 11.26
10/31/2009 -9.27 8.85 11.80
11/30/2009 -9.21 9.75 13.25
12/31/2009 -8.20 10.12 11.48
1/31/2010 -6.15 10.69 13.18
2/28/2010 -4.96 11.77 13.61
3/31/2010 -4.26 11.50 13.47
4/30/2010 -2.90 12.85 14.65
5/31/2010 -1.67 13.70 15.61
6/30/2010 -1.78 13.77 17.43
7/31/2010 -0.40 15.19 18.68
8/31/2010 2.66 17.82 20.21
9/30/2010 3.27 17.64 20.33
10/31/2010 3.38 17.31 20.76
11/30/2010 -1.23 14.97 20.07
12/31/2010 -3.94 12.74 18.77
1/31/2011 -6.73 11.91 18.91
2/28/2011 -4.20 13.69 19.21
3/31/2011 -4.61 13.31 19.28
4/30/2011 -2.36 15.34 20.79
5/31/2011 0.25 17.31 22.37
6/30/2011 1.61 17.72 22.01
7/31/2011 3.80 18.92 23.94
8/31/2011 4.81 20.96 25.76
9/30/2011 8.37 22.21 26.67
10/31/2011 7.95 21.75 26.81
11/30/2011 8.17 22.47 26.70
12/31/2011 10.73 24.80 28.09
1/31/2012 15.60 27.69 29.21
2/29/2012 16.12 27.82 29.18
3/31/2012 16.13 26.98 28.48
4/30/2012 17.98 28.45 29.90
5/31/2012 19.54 29.52 31.07
6/30/2012 19.93 29.38 31.13
7/31/2012 22.37 31.43 32.94
8/31/2012 22.81 31.58 33.02
9/30/2012 23.21 32.37 33.20
10/31/2012 24.03 32.75 33.47
11/30/2012 26.32 34.93 33.68
12/31/2012 24.27 33.26 33.49
1/31/2013 25.85 33.82 32.55
2/28/2013 26.32 34.23 33.22
3/31/2013 25.22 33.65 33.32
4/30/2013 26.98 35.11 34.67
5/31/2013 26.53 33.46 32.27
6/30/2013 20.12 29.68 30.22
7/31/2013 16.96 28.55 30.40
8/31/2013 10.36 26.71 29.74
9/30/2013 12.04 29.44 30.96
10/31/2013 13.46 30.46 32.02
11/30/2013 12.42 30.19 31.53
12/31/2013 10.28 29.86 30.79
1/31/2014 13.30 32.39 32.72
2/28/2014 17.13 33.94 33.42
3/31/2014 17.49 34.17 33.20
4/30/2014 18.17 35.78 34.32
5/31/2014 22.58 37.53 35.85
6/30/2014 21.38 37.65 35.92
7/31/2014 20.64 37.89 35.58
8/31/2014 23.88 39.56 37.08
9/30/2014 24.21 39.70 36.15
10/31/2014 24.42 40.66 37.48
11/30/2014 25.52 40.90 38.46
12/31/2014 26.12 41.62 38.59
1/31/2015 27.58 44.13 41.49
2/28/2015 26.75 42.64 40.16
3/31/2015 25.96 43.05 40.81
4/30/2015 25.34 42.30 40.31
5/31/2015 26.63 41.91 39.97
6/30/2015 22.45 41.78 38.45
7/31/2015 21.44 42.80 39.41
8/31/2015 20.56 43.08 39.21
9/30/2015 22.51 44.12 40.15
10/31/2015 23.49 44.69 40.17
11/30/2015 23.77 45.27 39.80
12/31/2015 24.57 46.29 39.35
1/31/2016 24.58 48.04 41.27
2/29/2016 25.80 48.27 42.27
3/31/2016 26.05 48.74 43.58
4/30/2016 26.23 49.83 44.13
5/31/2016 26.88 50.24 44.16
6/30/2016 30.45 52.63 46.75
7/31/2016 31.01 52.72 47.68
8/31/2016 31.49 52.93 47.51
9/30/2016 32.15 52.16 47.43
10/31/2016 32.28 50.57 46.30
11/30/2016 30.73 44.95 42.84
12/31/2016 30.85 46.65 43.04
1/31/2017 32.07 47.62 43.32
2/28/2017 33.53 48.65 44.28
3/31/2017 31.28 48.97 44.21
4/30/2017 32.17 50.05 45.32
5/31/2017 31.26 52.43 46.44
6/30/2017 31.29 51.88 46.29
7/31/2017 31.31 53.11 46.92
8/31/2017 31.68 54.28 48.24
9/30/2017 30.80 53.49 47.53
10/31/2017 28.99 53.87 47.62
11/30/2017 26.71 53.04 47.43
12/31/2017 26.80 54.64 0.00
Date Dividends
1/22/2008 0.05
2/26/2008 0.0467
3/25/2008 0.0483
4/22/2008 0.0487
5/27/2008 0.0479
6/24/2008 0.0498
7/22/2008 0.0498
8/26/2008 0.0481
9/23/2008 0.0647
10/28/2008 0.0393
11/25/2008 0.0486
12/30/2008 0.0508
1/27/2009 0.0524
2/24/2009 0.0522
3/24/2009 0.0522
4/21/2009 0.0522
5/26/2009 0.0507
6/23/2009 0.0518
7/28/2009 0.0503
8/25/2009 0.0511
9/22/2009 0.0507
10/27/2009 0.0489
11/24/2009 0.0507
12/30/2009 0.0491
1/26/2010 0.0511
2/23/2010 0.0507
3/23/2010 0.0507
4/27/2010 0.049
5/25/2010 0.0505
6/22/2010 0.0506
7/27/2010 0.0489
8/24/2010 0.0503
9/21/2010 0.0504
10/26/2010 0.0488
11/23/2010 0.0475
12/30/2010 0.0457
1/25/2011 0.0488
2/22/2011 0.0482
3/22/2011 0.0481
4/26/2011 0.0467
5/24/2011 0.048
6/21/2011 0.0479
7/26/2011 0.0462
8/23/2011 0.0477
9/27/2011 0.046
10/25/2011 0.0475
11/22/2011 0.0476
12/29/2011 0.0449
1/24/2012 0.0483
2/21/2012 0.0473
3/27/2012 0.0455
4/24/2012 0.0473
5/22/2012 0.0472
6/26/2012 0.0454
7/24/2012 0.0451
8/28/2012 0.0434
9/25/2012 0.0451
10/23/2012 0.0411
11/27/2012 0.0393
12/28/2012 0.0395
1/22/2013 0.0425
2/19/2013 0.0411
3/26/2013 0.0394
4/23/2013 0.0411
5/28/2013 0.0393
6/25/2013 0.0413
7/23/2013 0.0415
8/27/2013 0.04
9/24/2013 0.0429
10/22/2013 0.0431
11/26/2013 0.0415
12/30/2013 0.0417
1/28/2014 0.0432
2/25/2014 0.045
3/25/2014 0.0448
4/22/2014 0.0449
5/27/2014 0.0433
6/24/2014 0.0447
7/22/2014 0.0448
8/26/2014 0.0433
9/23/2014 0.0447
10/28/2014 0.0411
11/25/2014 0.0427
12/31/2014 0.0409
1/27/2015 0.0429
2/24/2015 0.0417
3/24/2015 0.0417
4/21/2015 0.0418
5/26/2015 0.0363
6/23/2015 0.0378
7/28/2015 0.0365
8/25/2015 0.0381
9/22/2015 0.0381
10/27/2015 0.0365
11/24/2015 0.0381
12/31/2015 0.0361
1/26/2016 0.0385
2/23/2016 0.0331
3/22/2016 0.0331
4/26/2016 0.0316
5/24/2016 0.0331
6/21/2016 0.033
7/26/2016 0.0313
8/23/2016 0.0309
9/27/2016 0.0294
10/25/2016 0.0309
11/22/2016 0.0309
12/30/2016 0.0287
1/24/2017 0.0319
2/21/2017 0.0308
3/28/2017 0.0295
4/25/2017 0.0311
5/23/2017 0.0311
6/27/2017 0.0295
7/25/2017 0.0311
8/22/2017 0.0311
9/26/2017 0.0297
10/24/2017 0.0313
11/21/2017 0.0312
12/4/2017 0.0894
12/29/2017 0.0072

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 01/16/2018

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

(63.0% of assets as of 12/31/2017)


Portfolio Holdings Breakdown

State
Credit Rating Allocation
Asset Allocation
State Rochester® Arizona Municipal Fund Bloomberg Barclays Municipal Index Overweight / Underweight
Arizona 37.2% 1.8% 35.5%
Puerto Rico 4.8% 0.5% 4.3%
Credit Rating Allocation Rochester® Arizona Municipal Fund Bloomberg Barclays Municipal Index Overweight / Underweight
AA 32.6% 54.6% -22.0%
Unrated 15.7% 0.1% 15.6%
AAA 10.9% 22.1% -11.2%
BB 3.4% - -
CC 0.4% - -
Asset Allocation Rochester® Arizona Municipal Fund Bloomberg Barclays Municipal Index Overweight / Underweight
Municipal 63.0% 100.0% -37.0%
Analytics
(As of 12/31/2017)

Morningstar 12/31/2017 (based on risk adjusted performance)
Overall Rating
Number of Funds
221
Category
Muni Single State Long
Performance Statistics
3Y
5Y
Alpha
-2.11
-3.40
Beta
0.46
1.07
Information Ratio
-0.91
-0.78
R-Squared
16.68
43.75
Sharpe Ratio
-0.25
-0.08
Standard Deviation
3.73
5.67
Sortino Ratio
-0.09
-0.03
Tracking Error
3.88
4.27
Dividends
  • D
Est. Frequency
Monthly
Last Pay Date
12/29/2017
Per Share ($)
$0.0072
12-Month Distribution ($)
$0.4349
Portfolio Characteristics
Fund
Fund Index
Average Effective Maturity
3.29 yrs
5.95 yrs
Current Duration
2.40 yrs
6.10 yrs
Turnover Ratio
5.00%
-
Yields
Dividend Yield (with sales charge)
0.00%
Dividend Yield (w/o sales charge)
11.24%
Standardized Yield
0.41%
Distribution Sources
  • D
Net Income
45.60%
Net Profit from Sale
0.00%
Other Capital Sources
54.40%
Interest Income 12/31/2016
Exposed to AMT
8.08%
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. The Board of Trustees has approved a plan to liquidate the Fund, to take place on or about April 27, 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.
  3. 3. 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.
  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. 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.
  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. 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. 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.
  16. 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.
×
Loading...
Tiny Button Small Button Large Button Default Button Secondary Button Framed Button Framed Button ( Small Caps )