Value Fund
The Strategy typically invests primarily in large company value stocks.
- Inception Date
- December 16, 1996
- Investment Style
- Large Cap Value
- Fund Index
- Russell 1000® Value Index
- CUSIP
- 68380J816
-
NAV
- A
- (as of 04/23/2018)
- $38.24
- Total Assets
- (as of 03/31/2018)
- $2.03 BN
- Gross Expense Ratio
- (as of 03/29/2018)
- 0.68%
- Net Expense Ratio
- (as of 03/29/2018)
- 0.68%
|
Cumulative
|
Annualized | |||||
|---|---|---|---|---|---|---|
ytd as of 2018-03-31
|
1 yr | 3 yr | 5 yr | 10 yr | since inception | |
| -1.32% | 10.08% | 7.66% | 10.33% | 7.19% | 7.06% | |
| -2.83% | 6.95% | 7.88% | 10.78% | 7.78% | - | |
|
Cumulative
|
Annualized | |||||
|---|---|---|---|---|---|---|
ytd as of 2018-03-31
|
1 yr | 3 yr | 5 yr | 10 yr | since inception | |
| -1.32% | 10.08% | 7.66% | 10.33% | 7.19% | 7.06% | |
| -2.83% | 6.95% | 7.88% | 10.78% | 7.78% | - | |
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 | Value Fund | Russell 1000® Value Index |
|---|---|---|
| 1997 | 24.21% | 35.18% |
| 1998 | 8.91% | 15.63% |
| 1999 | -4.51% | 7.35% |
| 2000 | -1.30% | 7.01% |
| 2001 | 3.46% | -5.59% |
| 2002 | -13.16% | -15.52% |
| 2003 | 33.06% | 30.03% |
| 2004 | 15.78% | 16.49% |
| 2005 | 6.78% | 7.05% |
| 2006 | 16.21% | 22.25% |
| 2007 | 6.71% | -0.17% |
| 2008 | -41.47% | -36.85% |
| 2009 | 34.17% | 19.69% |
| 2010 | 15.15% | 15.51% |
| 2011 | -4.35% | 0.39% |
| 2012 | 13.97% | 17.51% |
| 2013 | 30.70% | 32.53% |
| 2014 | 10.87% | 13.45% |
| 2015 | -3.55% | -3.83% |
| 2016 | 12.67% | 17.34% |
| 2017 | 16.22% | 13.66% |
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 | Value Fund | Russell 1000® Value Index | MSCI World | S&P 500 |
|---|---|---|---|---|
| 3/31/2008 | 0.00 | 0.00 | 0.00 | 0.00 |
| 4/30/2008 | 8.09 | 4.87 | 5.26 | 4.87 |
| 5/31/2008 | 8.01 | 4.71 | 6.86 | 6.23 |
| 6/30/2008 | 0.30 | -5.31 | -1.66 | -2.73 |
| 7/31/2008 | -2.64 | -5.66 | -4.06 | -3.54 |
| 8/31/2008 | -1.43 | -4.05 | -5.41 | -2.15 |
| 9/30/2008 | -10.47 | -11.10 | -16.66 | -10.87 |
| 10/31/2008 | -28.65 | -26.49 | -32.46 | -25.84 |
| 11/30/2008 | -35.14 | -31.76 | -36.83 | -31.16 |
| 12/31/2008 | -34.20 | -30.82 | -34.81 | -30.43 |
| 1/31/2009 | -36.55 | -38.77 | -40.52 | -36.29 |
| 2/28/2009 | -43.04 | -46.95 | -46.61 | -43.07 |
| 3/31/2009 | -38.11 | -42.42 | -42.58 | -38.09 |
| 4/30/2009 | -31.80 | -36.24 | -36.14 | -32.16 |
| 5/31/2009 | -26.33 | -32.30 | -30.35 | -28.37 |
| 6/30/2009 | -26.07 | -32.80 | -30.67 | -28.23 |
| 7/31/2009 | -21.49 | -27.30 | -24.80 | -22.80 |
| 8/31/2009 | -17.05 | -23.50 | -21.69 | -20.01 |
| 9/30/2009 | -13.94 | -20.54 | -18.57 | -17.03 |
| 10/31/2009 | -15.85 | -22.98 | -20.02 | -18.57 |
| 11/30/2009 | -12.65 | -18.63 | -16.75 | -13.68 |
| 12/31/2009 | -11.71 | -17.19 | -15.26 | -12.01 |
| 1/31/2010 | -15.10 | -19.52 | -18.76 | -15.18 |
| 2/28/2010 | -12.75 | -16.98 | -17.62 | -12.55 |
| 3/31/2010 | -7.29 | -11.58 | -12.51 | -7.28 |
| 4/30/2010 | -5.84 | -9.29 | -12.50 | -5.81 |
| 5/31/2010 | -13.29 | -16.75 | -20.88 | -13.33 |
| 6/30/2010 | -18.90 | -21.43 | -23.60 | -17.87 |
| 7/31/2010 | -12.48 | -16.11 | -17.40 | -12.12 |
| 8/31/2010 | -16.77 | -19.70 | -20.48 | -16.08 |
| 9/30/2010 | -9.68 | -13.47 | -13.07 | -8.59 |
| 10/31/2010 | -5.39 | -10.88 | -9.83 | -5.12 |
| 11/30/2010 | -5.75 | -11.35 | -11.78 | -5.10 |
| 12/31/2010 | 1.66 | -4.35 | -5.29 | 1.24 |
| 1/31/2011 | 4.18 | -2.19 | -3.15 | 3.64 |
| 2/28/2011 | 6.87 | 1.42 | 0.24 | 7.19 |
| 3/31/2011 | 7.79 | 1.82 | -0.75 | 7.23 |
| 4/30/2011 | 11.44 | 4.53 | 3.47 | 10.41 |
| 5/31/2011 | 10.90 | 3.43 | 1.32 | 9.16 |
| 6/30/2011 | 7.83 | 1.31 | -0.28 | 7.34 |
| 7/31/2011 | 3.31 | -2.05 | -2.09 | 5.16 |
| 8/31/2011 | -3.78 | -8.17 | -8.99 | -0.56 |
| 9/30/2011 | -11.64 | -15.11 | -16.85 | -7.55 |
| 10/31/2011 | -1.99 | -5.39 | -8.25 | 2.56 |
| 11/30/2011 | -3.23 | -5.88 | -10.49 | 2.33 |
| 12/31/2011 | -2.76 | -3.98 | -10.54 | 3.38 |
| 1/31/2012 | 1.33 | -0.35 | -6.05 | 8.01 |
| 2/29/2012 | 5.05 | 3.62 | -1.46 | 12.68 |
| 3/31/2012 | 7.33 | 6.70 | -0.19 | 16.39 |
| 4/30/2012 | 5.61 | 5.61 | -1.33 | 15.66 |
| 5/31/2012 | -1.31 | -0.58 | -9.84 | 8.71 |
| 6/30/2012 | 1.85 | 4.35 | -5.25 | 13.19 |
| 7/31/2012 | 3.29 | 5.43 | -4.03 | 14.76 |
| 8/31/2012 | 6.08 | 7.72 | -1.60 | 17.34 |
| 9/30/2012 | 8.91 | 11.14 | 1.11 | 20.37 |
| 10/31/2012 | 8.91 | 10.59 | 0.42 | 18.15 |
| 11/30/2012 | 8.68 | 10.55 | 1.71 | 18.84 |
| 12/31/2012 | 10.83 | 12.83 | 3.62 | 19.92 |
| 1/31/2013 | 16.84 | 20.17 | 8.90 | 26.13 |
| 2/28/2013 | 17.22 | 21.89 | 9.08 | 27.84 |
| 3/31/2013 | 22.43 | 26.72 | 11.63 | 32.64 |
| 4/30/2013 | 24.51 | 28.63 | 15.15 | 35.19 |
| 5/31/2013 | 27.78 | 31.94 | 15.19 | 38.36 |
| 6/30/2013 | 25.98 | 30.77 | 12.35 | 36.50 |
| 7/31/2013 | 32.89 | 37.83 | 18.27 | 43.44 |
| 8/31/2013 | 28.30 | 32.61 | 15.75 | 39.29 |
| 9/30/2013 | 33.41 | 35.93 | 21.54 | 43.66 |
| 10/31/2013 | 38.66 | 41.88 | 26.30 | 50.26 |
| 11/30/2013 | 41.45 | 45.84 | 28.54 | 54.84 |
| 12/31/2013 | 44.85 | 49.53 | 31.26 | 58.76 |
| 1/31/2014 | 39.38 | 44.22 | 26.40 | 53.27 |
| 2/28/2014 | 46.01 | 50.46 | 32.73 | 60.28 |
| 3/31/2014 | 48.02 | 54.05 | 32.92 | 61.63 |
| 4/30/2014 | 48.79 | 55.51 | 34.28 | 62.82 |
| 5/31/2014 | 51.97 | 57.79 | 36.93 | 66.65 |
| 6/30/2014 | 55.80 | 61.91 | 39.37 | 70.09 |
| 7/31/2014 | 53.04 | 59.15 | 37.15 | 67.74 |
| 8/31/2014 | 58.56 | 65.00 | 40.17 | 74.45 |
| 9/30/2014 | 54.46 | 61.60 | 36.37 | 72.01 |
| 10/31/2014 | 56.11 | 65.23 | 37.25 | 76.21 |
| 11/30/2014 | 59.56 | 68.61 | 40.00 | 80.95 |
| 12/31/2014 | 60.60 | 69.65 | 37.74 | 80.49 |
| 1/31/2015 | 52.99 | 62.87 | 35.25 | 75.07 |
| 2/28/2015 | 61.67 | 70.75 | 43.17 | 85.14 |
| 3/31/2015 | 60.38 | 68.42 | 40.93 | 82.21 |
| 4/30/2015 | 62.38 | 70.00 | 44.24 | 83.96 |
| 5/31/2015 | 65.36 | 72.04 | 44.73 | 86.32 |
| 6/30/2015 | 61.92 | 68.61 | 41.37 | 82.71 |
| 7/31/2015 | 64.42 | 69.34 | 43.90 | 86.54 |
| 8/31/2015 | 54.37 | 59.26 | 34.38 | 75.29 |
| 9/30/2015 | 48.72 | 54.45 | 29.43 | 70.95 |
| 10/31/2015 | 58.96 | 66.10 | 39.68 | 85.37 |
| 11/30/2015 | 59.55 | 66.74 | 38.99 | 85.92 |
| 12/31/2015 | 54.89 | 63.15 | 36.54 | 82.99 |
| 1/31/2016 | 44.02 | 54.72 | 28.37 | 73.91 |
| 2/29/2016 | 42.84 | 54.68 | 27.42 | 73.67 |
| 3/31/2016 | 53.88 | 65.83 | 36.07 | 85.46 |
| 4/30/2016 | 55.82 | 69.31 | 38.22 | 86.18 |
| 5/31/2016 | 58.20 | 71.94 | 39.00 | 89.52 |
| 6/30/2016 | 56.67 | 73.43 | 37.44 | 90.01 |
| 7/31/2016 | 61.45 | 78.46 | 43.24 | 97.02 |
| 8/31/2016 | 63.29 | 79.84 | 43.36 | 97.29 |
| 9/30/2016 | 64.66 | 79.46 | 44.13 | 97.33 |
| 10/31/2016 | 61.51 | 76.69 | 41.34 | 93.73 |
| 11/30/2016 | 71.81 | 86.78 | 43.37 | 100.90 |
| 12/31/2016 | 74.52 | 91.45 | 46.80 | 104.88 |
| 1/31/2017 | 77.99 | 92.81 | 50.34 | 108.76 |
| 2/28/2017 | 83.83 | 99.74 | 54.51 | 117.05 |
| 3/31/2017 | 81.82 | 97.70 | 56.16 | 117.30 |
| 4/30/2017 | 82.47 | 97.33 | 58.47 | 119.54 |
| 5/31/2017 | 83.28 | 97.14 | 61.82 | 122.63 |
| 6/30/2017 | 86.20 | 100.36 | 62.45 | 124.01 |
| 7/31/2017 | 89.29 | 103.03 | 66.33 | 128.62 |
| 8/31/2017 | 87.82 | 100.66 | 66.57 | 129.32 |
| 9/30/2017 | 92.98 | 106.60 | 70.31 | 134.05 |
| 10/31/2017 | 94.96 | 108.10 | 73.52 | 139.51 |
| 11/30/2017 | 100.19 | 114.48 | 77.28 | 146.86 |
| 12/31/2017 | 102.82 | 117.61 | 79.68 | 149.60 |
| 1/31/2018 | 112.24 | 126.02 | 89.17 | 163.89 |
| 2/28/2018 | 103.57 | 115.23 | 81.33 | 154.17 |
| 3/29/2018 | 100.14 |
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 | 2013 | 2014 | 2015 | 2016 | 2017 |
|---|---|---|---|---|---|
| Short Term | — | — | — | — | — |
| Long Term | — | — | — | — | 1.6597 |
| Total Amount of Distribution | — | — | — | — | 1.6597 |
| Record Date | — | — | — | — | 12/8/17 |
| Ex Div Date | — | — | — | — | 12/11/17 |
| Pay Date | — | — | — | — | 12/11/17 |
There is no guarantee of the payment of any dividend or other distributions at any level.
Top Issuers
| Country | Value Fund | Russell 1000® Value Index | Overweight / Underweight |
|---|---|---|---|
| United States | 91.7% | 99.8% | -8.0% |
| Canada | 3.9% | 0.0% | 3.9% |
| Netherlands | 1.1% | 0.1% | 1.0% |
| Germany | 0.7% | - | - |
| Developed Markets | Value Fund | Russell 1000® Value Index | Overweight / Underweight |
|---|---|---|---|
| Americas | 95.6% | 99.8% | -4.1% |
| Europe | 1.8% | 0.2% | 1.6% |
| Equity Sector | Value Fund | Russell 1000® Value Index | Overweight / Underweight |
|---|---|---|---|
| Financials | 25.1% | 27.1% | -2.0% |
| Health Care | 12.5% | 13.6% | -1.1% |
| Energy | 12.0% | 10.7% | 1.3% |
| Industrials | 10.7% | 8.2% | 2.4% |
| Information Technology | 10.3% | 9.3% | 1.1% |
| Consumer Staples | 6.2% | 8.1% | -1.9% |
| Consumer Discretionary | 6.2% | 6.8% | -0.5% |
| Utilities | 4.6% | 5.9% | -1.2% |
| Real Estate | 3.9% | 4.6% | -0.6% |
| Materials | 3.8% | 2.9% | 0.8% |
| Telecommunication Services | 2.0% | 2.9% | -0.9% |
| Industry | Value Fund | Russell 1000® Value Index | Overweight / Underweight |
|---|---|---|---|
| Banks | 15.9% | 12.9% | 3.0% |
| Oil Gas & Consumable Fuels | 10.0% | 9.5% | 0.5% |
| Capital Markets | 7.4% | 4.3% | 3.1% |
| Electric Utilities | 4.6% | 3.5% | 1.1% |
| Equity Real Estate Investment Trusts (REITs) | 3.9% | 4.4% | -0.4% |
| Health Care Equipment & Supplies | 3.8% | 2.9% | 0.9% |
| Pharmaceuticals | 3.1% | 6.5% | -3.4% |
| Health Care Providers & Services | 3.1% | 2.4% | 0.7% |
| Machinery | 2.6% | 1.4% | 1.2% |
| Software | 2.6% | 1.4% | 1.2% |
| Communications Equipment | 2.5% | 2.1% | 0.5% |
| Beverages | 2.3% | 0.6% | 1.7% |
| Aerospace & Defense | 2.2% | 2.1% | 0.1% |
| Air Freight & Logistics | 2.1% | 0.1% | 2.1% |
| Semiconductors & Semiconductor Equipment | 2.1% | 3.2% | -1.1% |
| Energy Equipment & Services | 2.1% | 1.2% | 0.8% |
| Diversified Telecommunication Services | 2.0% | 2.8% | -0.7% |
| Chemicals | 1.9% | 1.7% | 0.2% |
| Insurance | 1.8% | 4.6% | -2.8% |
| Food & Staples Retailing | 1.7% | 2.1% | -0.4% |
| Asset Allocation | Value Fund | Russell 1000® Value Index | Overweight / Underweight |
|---|---|---|---|
| Equity | 97.4% | 100.0% | -2.6% |
| Market Cap | Value Fund | Russell 1000® Value Index | Overweight / Underweight |
|---|---|---|---|
| Large | 79.9% | 78.8% | 1.1% |
| Mid | 16.5% | 20.1% | -3.5% |
| Small | 1.0% | 1.2% | -0.2% |
- D
- D
- 1. Special Risks: 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. Mid-sized company stock is typically more volatile than that of larger company stock. It may take a substantial period of time to realize a gain on an investment in a mid-sized company, if any gain is realized at all. Value investing involves the risk that undervalued securities may not appreciate as anticipated. Diversification does not guarantee profit or protect against loss.
- 2. 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.
- 3. Access index definitions.
- 4. 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.
- 5. Holdings are subject to change, are dollar-weighted based on assets, and may not reflect the use of leverage in the Fund. Market Cap breakdown is calculated using Morningstar's methodology and those capitalization standards may not align with those in the Fund’s prospectus.
- 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. ↩
- 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. ↩
- 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. ↩
- D. There is no guarantee of the payment of any dividend or other distributions at any level. ↩
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.