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Municipal Bond

Rochester® Maryland Municipal Fund

The Strategy typically invests in Maryland municipal bonds.

Investment Style
State-Specific
Fund Inception
July 29, 2011
Total Assets (all classes) (as of 7/31/2017)
$32 million
Fund Index
Bloomberg Barclays Municipal Index
NAV (as of 8/18/17)
  • A
$9.20
Special Notice

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.

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Equity

Fixed Income

Municipal Bond
performance
analytics
holdings
as of 7/31/2017
  • B
as of 6/30/2017
  • B

Sales charges are not applicable to Y & I Share Classes.
Cumulative
Annualized
3 mo ytd as of 8/18/17
  • C
1 yr 3 yr 5 yr since inception
Rochester® Maryland Municipal Fund (NAV)
-0.04% -0.64% -1.71% 3.29% 1.26% 3.53%
Cumulative
Annualized
3 mo ytd as of 8/18/17
  • C
1 yr 3 yr 5 yr since inception
Rochester® Maryland Municipal Fund (NAV)
-2.39% -0.64% -2.08% 3.63% 0.73% 3.41%
Gross Expense Ratio: 1.16% | Net Expense Ratio: 1.05%

The performance data quoted represents past performance, which does not guarantee future results. The investment return and principal value of an investments in the Fund will fluctuate so that an investor's shares, when redeemed, may be worth more or less than the originals 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. Class Y shares are not subject to a sales charge. Returns do not consider capital gains or income taxes on an individual's investment.


Year Rochester® Maryland Municipal Fund Bloomberg Barclays Municipal Index
2011 0.00% 10.70%
2012 12.50% 6.78%
2013 -13.60% -2.55%
2014 12.31% 9.05%
2015 0.89% 3.30%
2016 5.99% 0.25%

The performance data quoted represents past performance, which does not guarantee future results. The investment return and principal value of an investments in the Fund will fluctuate so that an investor's shares, when redeemed, may be worth more or less than the originals 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. Class Y shares are not subject to a sales charge. Returns do not consider capital gains or income taxes on an individual's investment.


Date Rochester® Maryland Municipal Fund Bloomberg Barclays Municipal Index BBG Barclays Agg
7/31/2012 0.00 0.00 0.00
8/31/2012 0.43 0.11 0.07
9/30/2012 0.76 0.72 0.20
10/31/2012 1.29 1.00 0.40
11/30/2012 3.34 2.67 0.56
12/31/2012 0.78 1.40 0.42
1/31/2013 2.04 1.82 -0.29
2/28/2013 2.51 2.13 0.21
3/31/2013 1.53 1.69 0.29
4/30/2013 3.03 2.80 1.31
5/31/2013 2.52 1.55 -0.50
6/30/2013 -3.05 -1.33 -2.04
7/31/2013 -5.72 -2.19 -1.91
8/31/2013 -11.89 -3.59 -2.41
9/30/2013 -10.20 -1.51 -1.48
10/31/2013 -9.31 -0.73 -0.69
11/30/2013 -10.27 -0.94 -1.06
12/31/2013 -12.93 -1.19 -1.62
1/31/2014 -10.60 0.73 -0.16
2/28/2014 -6.52 1.91 0.37
3/31/2014 -6.44 2.09 0.20
4/30/2014 -6.01 3.31 1.04
5/31/2014 -3.23 4.64 2.19
6/30/2014 -5.47 4.73 2.25
7/31/2014 -6.75 4.92 1.99
8/31/2014 -3.25 6.19 3.11
9/30/2014 -2.25 6.30 2.41
10/31/2014 -3.28 7.03 3.42
11/30/2014 -2.67 7.21 4.15
12/31/2014 -2.21 7.75 4.25
1/31/2015 -1.00 9.66 6.44
2/28/2015 -1.27 8.53 5.44
3/31/2015 -0.91 8.84 5.93
4/30/2015 -1.47 8.27 5.55
5/31/2015 -0.26 7.97 5.29
6/30/2015 -4.88 7.88 4.14
7/31/2015 -4.04 8.66 4.87
8/31/2015 -3.18 8.87 4.72
9/30/2015 -1.20 9.66 5.43
10/31/2015 -1.21 10.09 5.44
11/30/2015 -1.19 10.53 5.17
12/31/2015 -1.34 11.31 4.83
1/31/2016 -0.70 12.64 6.27
2/29/2016 0.19 12.81 7.02
3/31/2016 -0.18 13.17 8.00
4/30/2016 -0.20 14.00 8.42
5/31/2016 0.94 14.31 8.45
6/30/2016 5.99 16.13 10.39
7/31/2016 5.98 16.20 11.09
8/31/2016 5.46 16.36 10.97
9/30/2016 6.27 15.78 10.90
10/31/2016 6.00 14.56 10.05
11/30/2016 4.46 10.29 7.45
12/31/2016 4.57 11.58 7.60
1/31/2017 4.65 12.32 7.81
2/28/2017 6.16 13.10 8.54
3/31/2017 4.21 13.35 8.48
4/30/2017 6.30 14.17 9.32
5/31/2017 5.28 15.98 10.16
6/30/2017 4.17 15.56 10.05
7/31/2017 3.77 16.50 10.52
Date Dividends
8/28/2012 0.0491
9/25/2012 0.0488
10/23/2012 0.0488
11/27/2012 0.0467
12/28/2012 0.0468
1/22/2013 0.0467
2/19/2013 0.0468
3/26/2013 0.0441
4/23/2013 0.0446
5/28/2013 0.045
6/25/2013 0.0446
7/23/2013 0.0447
8/27/2013 0.046
9/24/2013 0.0449
10/22/2013 0.0436
11/26/2013 0.0419
12/30/2013 0.0408
1/28/2014 0.0416
2/25/2014 0.0438
3/25/2014 0.0464
4/22/2014 0.0444
5/27/2014 0.0445
6/24/2014 0.0448
7/22/2014 0.0445
8/26/2014 0.0445
9/23/2014 0.0441
10/28/2014 0.0443
11/25/2014 0.0441
12/31/2014 0.0436
1/27/2015 0.0439
2/24/2015 0.0432
3/24/2015 0.0433
4/21/2015 0.0433
5/26/2015 0.0434
6/23/2015 0.0436
7/28/2015 0.0433
8/25/2015 0.0427
9/22/2015 0.0429
10/27/2015 0.0417
11/24/2015 0.0421
12/31/2015 0.0431
1/26/2016 0.043
2/23/2016 0.0431
3/22/2016 0.0431
4/26/2016 0.043
5/24/2016 0.043
6/21/2016 0.0431
7/26/2016 0.043
8/23/2016 0.0402
9/27/2016 0.04
10/25/2016 0.0401
11/22/2016 0.0399
12/30/2016 0.038
1/24/2017 0.038
2/21/2017 0.0381
3/28/2017 0.038
4/25/2017 0.036
5/23/2017 0.0361
6/27/2017 0.036
7/25/2017 0.031

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 investments in the Fund will fluctuate so that an investor's shares, when redeemed, may be worth more or less than the originals 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. Class Y shares are not subject to a sales charge. Returns do not consider capital gains or income taxes on an individual's investment.

$ per share as of 8/18/2017

Date 2012 2013 2014 2015 2016
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.

Analytics

(As of 7/31/2017)

Morningstar 7/31/2017 (based on risk adjusted performance)
Overall Rating
Number of Funds
221
Category
Muni Single State Long
Performance Statistics
3Y
5Y
Alpha
1.23
-2.98
Information Ratio
0.01
-0.44
Sharpe Ratio
0.63
0.11
R-Squared
16.58
42.37
Standard Deviation
5.45
7.05
Sortino Ratio
0.30
0.04
Beta
0.67
1.28
Tracking Error
5.10
5.44
Dividends
  • D
Est. Frequency
Monthly
Last Pay Date
7/25/2017
Per Share ($)
$0.03
Net Income
100.00%
Net Profit from Sale
0.00%
Other Capital Sources
0.00%
12-Month Distribution ($)
$0.45
Portfolio Characteristics
Fund
Fund Index
Average Effective Maturity
6.54 yrs
5.95 yrs
Current Duration
3.90 yrs
6.70 yrs
Turnover Ratio
16.00%
-
Yields
Dividend Yield (w/o sales charge)
4.03%
Standardized Yield
1.63%

Top Fixed Income Sectors

(94.3% of assets as of 07/31/17)


Portfolio Holdings Breakdown

State 10
Credit Rating Allocation
Asset Allocation 10
State Rochester® Maryland Municipal Fund Bloomberg Barclays Municipal Index Overweight / Underweight
Maryland 45.0% 2.1% 43.0%
Puerto Rico 24.7% 0.5% 24.1%
Virgin Islands 5.2% 0.0% 5.2%
Guam 0.7% 0.2% 0.5%
Credit Rating Allocation Rochester® Maryland Municipal Fund Bloomberg Barclays Municipal Index Overweight / Underweight
A 28.1% 2.2% 25.8%
BBB 18.6% 0.9% 17.7%
CCC 12.1% - -
AA 11.5% 3.2% 8.3%
Unrated 9.7% - -
AAA 4.4% 0.7% 3.7%
BB 4.4% - -
C 3.0% - -
CC 2.1% - -
B 0.6% - -
Asset Allocation Rochester® Maryland Municipal Fund Bloomberg Barclays Municipal Index Overweight / Underweight
Municipal 94.4% 100.0% -5.6%
  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. As of the close of the New York Stock Exchange on March 24, 2016, the purchase and exchange of Fund shares are restricted, subject to certain exceptions. Please see the prospectus for further information.
  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. 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.
  6. 6. For Share Classes with less than a one-year track record, expense ratios are estimated based on the Manager's projections of those expenses for the coming fiscal year.
  7. 7. Access index definitions.
  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. 10. 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.
  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 investments in the Fund will fluctuate so that an investor's shares, when redeemed, may be worth more or less than the originals 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. Class Y shares are not subject to a sales charge. 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.
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