Sector Allocation - ORMIX
as of 04/30/2013
| Basic Materials | -- | |
|---|---|---|
| Consumer Cyclical | -- | |
| Financial Services | -- | |
| Real Estate | -- | |
| Consumer Defensive | -- | |
| Healthcare | -- | |
| Utilities | -- | |
| Communication Services | -- | |
| Energy | -- | |
| Industrials | -- | |
| Technology | -- |
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ORMIX:NASDAQ
Oppenheimer Rochester Michigan Municipal Fund Class A – ORMIX Fund Overview
| Last Price | Today's Change | 52-Week Range | Trading Volume |
|---|---|---|---|
| 9.85 | 0.00 (0.00%) | 9.73 - 10.00 | 0.0 |
Market data as of 12:00AM 05/21/13. Quotes are delayed by at least 15 min.
Overview - ORMIX
The investment seeks a high level of current interest income exempt from federal and Michigan state income taxes for individual investors as is consistent with preservation of capital. The fund normally invests at least 80% of its net assets (plus borrowings for investment purposes) in securities the income from which, in the opinion of counsel to the issuer of each security, is exempt from both federal and Michigan state income tax. It does not limit its investments to securities of a particular maturity range, and may hold both short- and long-term securities. The fund currently focuses on longer-term securities to seek higher yields. It is non-diversified.
Growth of $10,000 (10 Years)
| Total Return | 1.64% |
|---|---|
| Yield (Trailing 12 Mo.) | 5.14% |
| Expense Ratio | 1.18% |
| Front Load | 4.75% |
| Deferred Load | None |
| Minimum Investment | $1,000 |
| Management Tenure | 7 Years |
| Fund Inception | 06/21/2006 |
Trailing Total Returns - ORMIX
as of 04/30/2013
| Timeframe | ORMIX | S&P 500 | Muni Single State Long |
|---|---|---|---|
| 1 Month | 1.13% | 1.93% | 1.19% |
| 3 Month | 1.08% | 7.18% | 0.69% |
| Year-to-Date | 2.24% | 12.74% | 1.39% |
| 1 Year | 6.98% | 16.89% | 5.23% |
| 3 Year | 7.60% | 12.80% | 5.87% |
| 5 Year | 2.83% | 5.21% | 5.29% |
| 10 Year | -- | 7.88% | 4.35% |
| Since Inception | 1.64% | 10.38% | -- |
Asset Allocation - ORMIX
as of 04/30/2013
| By Percent | Short | 0% | Long | Net | |
|---|---|---|---|---|---|
| Stock | -- | 0.00 | 0.00 | ||
| Bond | -- | 99.43 | 99.43 | ||
| Other | -- | 0.00 | 0.00 | ||
| Foreign Stock | -- | 0.00 | 0.00 | ||
| Foreign Bond | -- | 0.00 | 0.00 | ||
| Total | -- | 99.43 | 99.43 | ||
| Cash | -- | 0.57 | 0.57 | ||
| Total Net Assets | $83.47M |
|---|---|
| Total Stock Holdings | 0 |
| Total Bond Holdings | 163 |
Bond Credit Quality - ORMIX
as of 04/30/2013
| AAA | 1.30% | |
|---|---|---|
| AA | 30.20% | |
| A | 16.20% | |
| BBB | 25.50% |
| BB | 3.20% | |
|---|---|---|
| B | 8.90% | |
| Below B | 1.60% | |
| Not Rated | 13.10% |
Top Ten Holdings - ORMIX
as of 04/30/2013
| Company | YTD Return | % of Assets |
|---|---|---|
| Michigan St Hosp Fin Auth | -- | 6.93% |
| Michigan St Hsg Dev Auth 5.15% | -- | 4.92% |
| Michigan Tob Settlement Fin Au Tobacc 6% | -- | 3.56% |
| Wayne Charter Cnty Mich Go Ltd Ta 6.75% | -- | 3.17% |
| Puerto Rico Pub Bldgs Auth 6.75% | -- | 2.77% |
| Detroit Mich Loc Dev Fin Auth 6.85% | -- | 2.67% |
| Puerto Rico Comwlth Infrastruc Rev 6.5% | -- | 2.32% |
| Michigan St Strategic Fd Ltd O Lt 7.875% | -- | 2.21% |
| Puerto Rico Pub Fin Corp Appropria 5.5% | -- | 2.05% |
| Detroit Mich City Sch Dist 5% | -- | 2.04% |
Valuation & Growth - ORMIX
as of 04/30/2013
| Valuation | ORMIX | Category Range |
|---|---|---|
| Price/Earnings | -- | |
| Price/Book | -- | |
| Price/Sales | -- | |
| Price/Cash Flow | -- | |
| Dividend Yield | ||
| LT Earnings | ||
| Historical Earnings | ||
| Sales Growth | ||
| Cash-Flow Growth | ||
| Book-Value Growth |
Key: Lo Hi
Morningstar Summary - ORMIX, 3 Year
| Rate Sensitivity | |||
|---|---|---|---|
| High | |||
| Mid | |||
| Low | |||
 |  |  |
| Rating | vs Category | |
|---|---|---|
| Overall |  | |
| Risk | High | |
| Return | High |
Key: Lo Hi
Tax Analysis - ORMIX, 3 Year Avg
| Pretax Return | 7.60% |
|---|---|
| Tax-adjusted Return | 5.88% |
| Tax Cost Ratio | -0.01% |
| Potential Cap Gains | -17.22% |
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