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OUSIX

Limited-Term Bond Fund

Overview

The Strategy typically invests in limited-term, U.S. investment-grade fixed income instruments.

Inception Date
August 1, 2013
Investment Style
Limited Term Bond
Fund Index
Bloomberg Barclays US Aggregate 1-3 Year
CUSIP
683810600
NAV
  • A
(as of 05/23/2018)
$4.47
Total Assets
(as of 04/30/2018)
$1.59 BN
Gross Expense Ratio
(as of 04/30/2018)
0.39%
Net Expense Ratio
(as of 04/30/2018)
0.39%
Performance
Average Annual Total Returns
Cumulative Returns
Calendar Year Returns
Capital Gains Distributions
as of 04/30/2018
as of 03/31/2018

Sales charges are not applicable to Y & I Share Classes.
Cumulative
Annualized
1 mo 3 mo ytd as of 2018-03-31
  • B
1 yr 3 yr since inception
Limited-Term Bond Fund (NAV)
-0.18% -0.40% -0.40% 1.28% 1.40% 1.90%
Bloomberg Barclays US Aggregate 1-3 Year
0.16% -0.20% -0.20% 0.25% 0.68% -
Cumulative
Annualized
1 mo 3 mo ytd as of 2018-04-30
  • B
1 yr 3 yr since inception
Limited-Term Bond Fund (NAV)
0.24% -0.18% -0.16% 1.07% 1.40% 1.92%
Bloomberg Barclays US Aggregate 1-3 Year
-0.10% -0.04% -0.31% -0.04% 0.62% -
Gross Expense Ratio: 0.39% | Net Expense Ratio: 0.39%

Year Limited-Term Bond Fund Bloomberg Barclays US Aggregate 1-3 Year
2014 1.99% 0.82%
2015 0.82% 0.66%
2016 2.51% 1.31%
2017 2.53% 0.86%

Date Limited-Term Bond Fund Bloomberg Barclays US Aggregate 1-3 Year (Linked Index)
BBG Barclays Agg
4/30/2015 0.00 0.00 0.00
5/31/2015 0.02 0.08 -0.24
6/30/2015 -0.18 0.05 -1.33
7/31/2015 -0.06 0.11 -0.64
8/31/2015 -0.39 0.05 -0.79
9/30/2015 -0.20 0.35 -0.11
10/31/2015 0.02 0.31 -0.10
11/30/2015 -0.01 0.13 -0.36
12/31/2015 -0.57 -0.01 -0.68
1/31/2016 -0.38 0.51 0.68
2/29/2016 -0.39 0.60 1.40
3/31/2016 0.23 0.96 2.33
4/30/2016 0.87 1.11 2.72
5/31/2016 0.84 1.04 2.75
6/30/2016 1.47 1.65 4.59
7/31/2016 2.10 1.67 5.25
8/31/2016 2.09 1.56 5.13
9/30/2016 2.50 1.68 5.07
10/31/2016 2.48 1.65 4.27
11/30/2016 1.81 1.24 1.80
12/31/2016 1.92 1.30 1.95
1/31/2017 2.35 1.49 2.15
2/28/2017 2.77 1.65 2.83
3/31/2017 2.77 1.71 2.78
4/30/2017 3.22 1.90 3.57
5/31/2017 3.71 2.07 4.37
6/30/2017 3.73 2.03 4.26
7/31/2017 4.21 2.30 4.71
8/31/2017 4.24 2.50 5.65
9/30/2017 4.48 2.38 5.15
10/31/2017 4.70 2.36 5.21
11/30/2017 4.47 2.14 5.07
12/31/2017 4.50 2.17 5.56
1/31/2018 4.51 1.90 4.34
2/28/2018 4.27 1.80 3.35
3/31/2018 4.08 1.96 4.01
4/30/2018 4.33 1.86 3.24
Date Dividends
5/29/2015 0.0223
6/30/2015 0.0209
7/31/2015 0.0212
8/31/2015 0.0199
9/30/2015 0.0133
10/30/2015 0.0103
11/30/2015 0.0086
12/31/2015 0.0143
1/29/2016 0.0088
2/29/2016 0.0094
3/31/2016 0.0085
4/29/2016 0.0089
5/31/2016 0.0086
6/30/2016 0.0087
7/29/2016 0.0083
8/31/2016 0.0093
9/30/2016 0.0089
10/31/2016 0.0091
11/30/2016 0.0096
12/30/2016 0.015
1/31/2017 0.0091
2/28/2017 0.0088
3/31/2017 0.01
4/28/2017 0.0099
5/31/2017 0.0116
6/30/2017 0.011
7/31/2017 0.0112
8/31/2017 0.0111
9/29/2017 0.0104
10/31/2017 0.01
11/30/2017 0.0097
12/29/2017 0.0113
1/31/2018 0.0107
2/28/2018 0.0093
3/29/2018 0.0118
4/30/2018 0.0106

There is no guarantee of the payment of any dividend or other distributions at any level.

$ 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

(100.0% of assets as of 04/30/2018)


Portfolio Holdings Breakdown

Country
Developed Markets
Credit Rating Allocation
Country Limited-Term Bond Fund Bloomberg Barclays US Aggregate 1-3 Year Overweight / Underweight
United States 87.5% 86.5% 1.0%
Canada 2.9% 2.0% 0.9%
United Kingdom 2.8% 1.0% 1.8%
Germany 2.1% 1.7% 0.4%
Australia 1.7% 0.6% 1.1%
Netherlands 1.0% 0.5% 0.5%
Italy 0.9% - -
Spain 0.8% 0.1% 0.7%
Switzerland 0.7% 0.5% 0.2%
France 0.7% 0.3% 0.4%
Belgium 0.6% 0.2% 0.4%
Luxembourg 0.5% - -
Japan 0.5% 0.8% -0.3%
Norway 0.3% 0.0% 0.2%
Hong Kong 0.2% - -
Developed Markets Limited-Term Bond Fund Bloomberg Barclays US Aggregate 1-3 Year Overweight / Underweight
Americas 90.3% 88.5% 1.8%
Europe 10.2% 4.9% 5.4%
Asia Pacific 2.4% 1.4% 1.0%
Credit Rating Allocation Limited-Term Bond Fund Bloomberg Barclays US Aggregate 1-3 Year Overweight / Underweight
Agency 12.5% 6.0% 6.5%
AAA 8.2% 8.9% -0.7%
AA 4.8% 6.9% -2.1%
A 19.3% 10.9% 8.4%
BBB 50.7% 7.4% 43.2%
BB 6.7% - -
B 0.1% - -
CCC 0.1% - -
C 0.1% - -
D 0.5% - -
Unrated 0.9% 0.4% 0.5%
Other -0.7% - -
Analytics
(As of 04/30/2018)

Morningstar 04/30/2018 (based on risk adjusted performance)
Overall Rating
Number of Funds
447
Category
Short-Term Bond
Performance Statistics
3Y
Alpha
0.78
Beta
0.98
Information Ratio
0.92
R-Squared
43.23
Sharpe Ratio
0.69
Standard Deviation
1.11
Sortino Ratio
0.33
Tracking Error
0.85
Dividends
  • C
Est. Frequency
Monthly
Last Pay Date
4/30/2018
Per Share ($)
$0.0106
12-Month Distribution ($)
$0.1289
Portfolio Characteristics
Fund
Fund Index
Yield to Worst
2.21%
2.67%
Convexity
-0.2
0.05
Option Adjusted Spread
96.71 bps
18.05 bps
Turnover Ratio
83.00%
-
Yields
Dividend Yield (w/o sales charge)
2.89%
Standardized Yield
3.31%
Distribution Sources
  • C
Net Income
100.00%
Net Profit from Sale
0.00%
Other Capital Sources
0.00%
Documents
  1. 1. 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. Asset-backed securities are subject to prepayment risk. Mortgage-backed securities are subject to prepayment risk. Mortgage bonds are susceptible to risks such as default and prepayment of principal and are taxable at the state and federal levels. U.S. Government securities are backed by the full faith and credit of the U.S. Government, meaning, that payment of interest and principal is guaranteed, but yield and market value are not. Derivative instruments entail higher volatility and risk of loss compared to traditional stock or bond investments. Foreign investments may be volatile and involve additional expenses and special risks, including currency fluctuations, foreign taxes, regulatory and geopolitical risks. Emerging and developing market investments may be especially volatile.
  2. 2. Class I shares are only offered to eligible institutional investors that make a minimum initial investment of $1 million or more and to retirement plan service provider platforms. The minimum account balance for class I shares is $2.5 million. Class I shares are sold at net asset value without a sales charge. Please see Fund prospectuses for additional information.
  3. 3. 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.
  4. 4. 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.
  5. 5. 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.
  6. 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.
  7. B. "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.
  8. C. There is no guarantee of the payment of any dividend or other distributions at any level.
  9. The funds invest in below-investment-grade debt securities, which may entail greater credit risks, as described in each fund’s prospectus. These securities (sometimes called “junk bonds”) may be subject to greater price fluctuations and risks of loss of income and principal than investment-grade municipal securities. The funds 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. The funds may also invest substantially in Puerto Rico and other U.S. territories, commonwealths and possessions, and could be exposed to their local political and economic conditions. Deterioration of the Puerto Rican economy could have an adverse impact on Puerto Rican bonds and the performance of the Rochester municipal funds that hold them.The views represented herein are the opinions of the Portfolio Managers at Macquarie Capital Investment Management LLC and are not intended as investment advice or to predict or depict the performance of any investment. These views are as of the date indicated, and are subject to change based on subsequent developments.Funds returns may not match the return of its respective index, known as non-correlation risk, due to operating expenses incurred by the Funds. The alternate weighting approach employed by the Funds (i.e., using revenues as a weighting measure), while designed to enhance potential returns, may not produce the desired results. Because the Funds are rebalanced quarterly, portfolio turnover may exceed 100%. The greater the portfolio turnover, the greater the transaction costs, which could have an adverse effect on Fund performanceOn April 28, 2017, OFI Global Institutional, Inc., a registered investment adviser subsidiary within OFI Global Asset Management (“OFI Global”) acquired SNW Asset Management, LLC (“SNW”). SNW provides advisory services for the strategy discussed herein.

    Benchmark: Through 12/31/11: 80% Merrill Lynch 1-5yr Municipal index/ 20% Merrill Lynch 5-7yr index. After 12/31/11: BofA Merrill Lynch 1-10 Year Municipal Securities Index. The BofA Merrill Lynch 1-10 Year Municipal Securities Index is a subset of the BofA Merrill Lynch US Municipal Securities Index including all securities with a remaining term to final maturity less than 10 years.On April 28, 2017, OFI Global Institutional, Inc., a registered investment adviser subsidiary within OFI Global Asset Management (“OFI Global”) acquired SNW Asset Management, LLC (“SNW”). SNW provides advisory services for the strategy discussed herein.

    Benchmark: Through 12/31/11: 80% Merrill Lynch 1-5yr Municipal index/ 20% Merrill Lynch 5-7yr index. After 12/31/11: BofA Merrill Lynch 1-10 Year Municipal Securities Index. The BofA Merrill Lynch 1-10 Year Municipal Securities Index is a subset of the BofA Merrill Lynch US Municipal Securities Index including all securities with a remaining term to final maturity less than 10 years.

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