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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
Single-State
Fund Index
Bloomberg Barclays Municipal Index
CUSIP
683940803
NAV
  • A
(as of 01/18/2018)
$8.33
Total Assets
(as of 12/31/2017)
$258.00 MM
Gross Expense Ratio
(as of 12/31/2017)
1.81%
Net Expense Ratio
(as of 12/31/2017)
1.81%
Performance
Average Annual Total Returns
Cumulative Returns
Calendar Year Returns
Capital Gains Distributions
as of 12/31/2017
  • G
as of 12/31/2017
  • G

Include Sales Charge
Include Sales Charge
Include Sales Charge
Include Sales Charge
  • G
Cumulative
Annualized
ytd as of 2017-12-31
  • C
1 yr 3 yr 5 yr 10 yr since inception
Rochester® New Jersey Municipal Fund (NAV)
-7.09% -7.09% -1.80% -0.51% 1.83% 3.40%
Bloomberg Barclays Municipal Index
5.45% 5.45% 2.98% 3.02% 4.46% -
Cumulative
Annualized
ytd as of 2017-12-31
  • C
1 yr 3 yr 5 yr 10 yr since inception
Rochester® New Jersey Municipal Fund (with sales charge)
-7.99% -7.99% -1.80% -0.51% 1.83% 3.40%
Bloomberg Barclays Municipal Index
5.45% 5.45% 2.98% 3.02% 4.46% -
Cumulative
Annualized
ytd as of 2017-12-31
  • C
1 yr 3 yr 5 yr 10 yr since inception
Rochester® New Jersey Municipal Fund (NAV)
-7.09% -7.09% -1.80% -0.51% 1.83% 3.40%
Bloomberg Barclays Municipal Index
5.45% 5.45% 2.98% 3.02% 4.46% -
Cumulative
Annualized
ytd as of 2017-12-31
  • C
1 yr 3 yr 5 yr 10 yr since inception
Rochester® New Jersey Municipal Fund (with sales charge)
-7.99% -7.99% -1.80% -0.51% 1.83% 3.40%
Bloomberg Barclays Municipal Index
5.45% 5.45% 2.98% 3.02% 4.46% -
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
12/31/2007 0.00 0.00 0.00
1/31/2008 -0.22 1.26 1.68
2/29/2008 -7.89 -3.37 1.82
3/31/2008 -5.65 -0.61 2.17
4/30/2008 -4.87 0.55 1.95
5/31/2008 -3.92 1.16 1.21
6/30/2008 -5.50 0.02 1.13
7/31/2008 -7.27 0.40 1.04
8/31/2008 -5.66 1.57 2.00
9/30/2008 -14.75 -3.19 0.63
10/31/2008 -25.26 -4.18 -1.74
11/30/2008 -28.42 -3.88 1.45
12/31/2008 -34.20 -2.47 5.24
1/31/2009 -27.58 1.10 4.31
2/28/2009 -25.51 1.63 3.92
3/31/2009 -26.87 1.65 5.36
4/30/2009 -21.75 3.68 5.87
5/31/2009 -15.09 4.77 6.63
6/30/2009 -16.68 3.79 7.24
7/31/2009 -14.35 5.53 8.97
8/31/2009 -7.20 7.33 10.10
9/30/2009 2.36 11.18 11.26
10/31/2009 -1.01 8.85 11.80
11/30/2009 -2.86 9.75 13.25
12/31/2009 -1.34 10.12 11.48
1/31/2010 1.17 10.69 13.18
2/28/2010 1.88 11.77 13.61
3/31/2010 3.94 11.50 13.47
4/30/2010 6.18 12.85 14.65
5/31/2010 5.67 13.70 15.61
6/30/2010 4.84 13.77 17.43
7/31/2010 6.71 15.19 18.68
8/31/2010 9.81 17.82 20.21
9/30/2010 10.56 17.64 20.33
10/31/2010 11.70 17.31 20.76
11/30/2010 6.17 14.97 20.07
12/31/2010 2.32 12.74 18.77
1/31/2011 -1.00 11.91 18.91
2/28/2011 1.29 13.69 19.21
3/31/2011 1.21 13.31 19.28
4/30/2011 2.84 15.34 20.79
5/31/2011 5.55 17.31 22.37
6/30/2011 7.69 17.72 22.01
7/31/2011 9.33 18.92 23.94
8/31/2011 9.61 20.96 25.76
9/30/2011 13.66 22.21 26.67
10/31/2011 13.36 21.75 26.81
11/30/2011 12.01 22.47 26.70
12/31/2011 14.88 24.80 28.09
1/31/2012 19.32 27.69 29.21
2/29/2012 20.71 27.82 29.18
3/31/2012 21.02 26.98 28.48
4/30/2012 22.78 28.45 29.90
5/31/2012 24.43 29.52 31.07
6/30/2012 24.61 29.38 31.13
7/31/2012 27.06 31.43 32.94
8/31/2012 27.49 31.58 33.02
9/30/2012 27.31 32.37 33.20
10/31/2012 27.89 32.75 33.47
11/30/2012 30.32 34.93 33.68
12/31/2012 27.86 33.26 33.49
1/31/2013 29.40 33.82 32.55
2/28/2013 29.89 34.23 33.22
3/31/2013 28.79 33.65 33.32
4/30/2013 30.43 35.11 34.67
5/31/2013 29.72 33.46 32.27
6/30/2013 23.70 29.68 30.22
7/31/2013 20.15 28.55 30.40
8/31/2013 14.05 26.71 29.74
9/30/2013 16.34 29.44 30.96
10/31/2013 17.80 30.46 32.02
11/30/2013 16.76 30.19 31.53
12/31/2013 14.94 29.86 30.79
1/31/2014 18.27 32.39 32.72
2/28/2014 22.05 33.94 33.42
3/31/2014 25.60 34.17 33.20
4/30/2014 26.81 35.78 34.32
5/31/2014 30.22 37.53 35.85
6/30/2014 28.30 37.65 35.92
7/31/2014 27.85 37.89 35.58
8/31/2014 31.83 39.56 37.08
9/30/2014 32.26 39.70 36.15
10/31/2014 32.02 40.66 37.48
11/30/2014 32.70 40.90 38.46
12/31/2014 33.60 41.62 38.59
1/31/2015 35.91 44.13 41.49
2/28/2015 34.70 42.64 40.16
3/31/2015 33.94 43.05 40.81
4/30/2015 33.13 42.30 40.31
5/31/2015 34.34 41.91 39.97
6/30/2015 30.49 41.78 38.45
7/31/2015 29.94 42.80 39.41
8/31/2015 29.97 43.08 39.21
9/30/2015 31.81 44.12 40.15
10/31/2015 32.63 44.69 40.17
11/30/2015 33.03 45.27 39.80
12/31/2015 33.78 46.29 39.35
1/31/2016 34.29 48.04 41.27
2/29/2016 35.30 48.27 42.27
3/31/2016 35.74 48.74 43.58
4/30/2016 36.23 49.83 44.13
5/31/2016 37.42 50.24 44.16
6/30/2016 41.46 52.63 46.75
7/31/2016 41.96 52.72 47.68
8/31/2016 42.35 52.93 47.51
9/30/2016 42.66 52.16 47.43
10/31/2016 41.90 50.57 46.30
11/30/2016 38.27 44.95 42.84
12/31/2016 38.23 46.65 43.04
1/31/2017 39.16 47.62 43.32
2/28/2017 40.69 48.65 44.28
3/31/2017 38.45 48.97 44.21
4/30/2017 39.13 50.05 45.32
5/31/2017 38.15 52.43 46.44
6/30/2017 37.67 51.88 46.29
7/31/2017 37.68 53.11 46.92
8/31/2017 38.58 54.28 48.24
9/30/2017 35.56 53.49 47.53
10/31/2017 30.79 53.87 47.62
11/30/2017 28.86 53.04 47.43
12/31/2017 29.30 54.64 0.00
Date Dividends
1/22/2008 0.0398
2/26/2008 0.0369
3/25/2008 0.0388
4/22/2008 0.0398
5/27/2008 0.0383
6/24/2008 0.0399
7/22/2008 0.04
8/26/2008 0.0386
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

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 01/17/2018

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

(108.4% of assets as of 12/31/2017)


Portfolio Holdings Breakdown

State
Credit Rating Allocation
Asset Allocation
State Rochester® New Jersey Municipal Fund Bloomberg Barclays Municipal Index Overweight / Underweight
New Jersey 82.0% 3.8% 78.2%
Puerto Rico 20.9% 0.5% 20.4%
Multistate Authority 7.3% 0.1% 7.2%
Northern Marianas 0.8% - -
Virgin Islands 0.3% 0.0% 0.3%
Guam 0.2% 0.2% 0.0%
Credit Rating Allocation Rochester® New Jersey Municipal Fund Bloomberg Barclays Municipal Index Overweight / Underweight
A 31.6% 18.3% 13.2%
BBB 26.3% 4.9% 21.5%
AA 21.8% 54.6% -32.7%
BB 12.1% - -
CC 8.6% - -
AAA 4.4% 22.1% -17.8%
B 4.4% - -
Unrated 1.6% 0.1% 1.5%
C 0.7% - -
CCC 0.1% - -
Asset Allocation Rochester® New Jersey Municipal Fund Bloomberg Barclays Municipal Index Overweight / Underweight
Municipal 111.6% 100.0% 11.6%
Analytics
(As of 12/31/2017)

Morningstar 12/31/2017 (based on risk adjusted performance)
Overall Rating
Number of Funds
48
Category
Muni New Jersey
Performance Statistics
3Y
5Y
Alpha
-4.10
-3.97
Beta
0.76
1.21
Information Ratio
-1.24
-0.83
R-Squared
31.38
50.79
Sharpe Ratio
-0.48
-0.10
Standard Deviation
4.50
5.97
Sortino Ratio
-0.16
-0.04
Tracking Error
3.84
4.27
Dividends
  • D
Est. Frequency
Monthly
Last Pay Date
12/29/2017
Per Share ($)
$0.0180
12-Month Distribution ($)
$0.2977
Portfolio Characteristics
Fund
Fund Index
Average Effective Maturity
8.59 yrs
5.95 yrs
Current Duration
5.90 yrs
6.10 yrs
Turnover Ratio
9.00%
-
Yields
Dividend Yield (with sales charge)
0.00%
Dividend Yield (w/o sales charge)
2.58%
Standardized Yield
0.75%
Distribution Sources
  • D
Net Income
100.00%
Net Profit from Sale
0.00%
Other Capital Sources
0.00%
Interest Income 12/31/2016
Exposed to AMT
13.91%
Team
Documents
  1. 1. Available to investors only in certain states.
  2. 2. 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.
  3. 3. 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.
  4. 4. 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.
  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. 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.
  8. 8. 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.
  9. 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.
  10. 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.
  11. 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.
  12. D. There is no guarantee of the payment of any dividend or other distributions at any level.
  13. 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.
  14. 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.
  15. G. 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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