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4 Zacks Rank #1 Oppenheimer Mutual Funds to Buy Now
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OppenheimerFunds is a subsidiary of MassMutual, which is one of the leading asset managers with around $600 billion assets under management along with its affiliates. OppenheimerFunds was founded in 1959 and has over 2,000 employees and 170 investment professionals serving clients, including financial advisors, individual investors and institutional investors, across 77 countries. It has $215 billion worth of assets (as of Nov 30, 2016) under management invested in 89 mutual funds across a wide range of categories including equity, fixed income, alternative and multi asset funds.
Oppenheimer Rochester AMT-Free Munis A (OPTAX - Free Report) seeks tax-exempted income. OPTAX invests a large chunk of its assets in securities that are expected to provide returns exempted from regular federal and state income taxes. The assets of OPTAX are not invested in municipal securities, the interest income on which is not free from the federal "alternative minimum tax" (AMT). Oppenheimer Rochester AMT-Free Munis A fund has a one-year annualized return of 2.4%.
OPTAX has an expense ratio of 0.82% compared with the category average of 0.99%.
Oppenheimer Global Opportunities Y (OGIYX - Free Report) primarily invests in a wide range of domestic and foreign equity securities. OGIYX focuses on acquiring stocks, but may also purchase debt securities. The fund may invest a maximum of 25% of its assets in "below-investment-grade" securities or "junk bonds." Moreover, OGIYX may invest in developing or emerging countries and in small- and mid-cap companies. Oppenheimer Global Opportunities Y fund has a one-year annualized return of 12.2%.
Frank Jennings has been the fund manager of OGIYX since 1995.
Oppenheimer Rochester NJ Municipal Y (ONJYX - Free Report) seeks income free from tax. ONJYX invests a bulk of its assets in municipal securities, whose income is exempted from not only the federal income tax but also from ONJYX’s state income tax. The fund normally invests the majority of its assets in New Jersey muni bonds.Oppenheimer Rochester NJ Municipal Y fund has a one-year annualized return of 3.4%.
ONJYX has an expense ratio of 0.71% compared with the category average of 0.98%.
Oppenheimer Gold & Special Minerals Y (OGMYX - Free Report) invests mainly in common stocks of companies that are involved in mining, processing or dealing with gold. OGMYX seeks growth of capital. The fund may also invest nearly one-fourth of its assets in its subsidiary, the Oppenheimer Gold & Special Minerals Fund Ltd. Oppenheimer Gold & Special Minerals Y fund has a one-year annualized return of 36.2%.
As of October 2016, OGMYX held 114 issues, with 5.65% of its assets invested in Newmont Mining Corp.
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4 Zacks Rank #1 Oppenheimer Mutual Funds to Buy Now
OppenheimerFunds is a subsidiary of MassMutual, which is one of the leading asset managers with around $600 billion assets under management along with its affiliates. OppenheimerFunds was founded in 1959 and has over 2,000 employees and 170 investment professionals serving clients, including financial advisors, individual investors and institutional investors, across 77 countries. It has $215 billion worth of assets (as of Nov 30, 2016) under management invested in 89 mutual funds across a wide range of categories including equity, fixed income, alternative and multi asset funds.
Below we share with you four top-rated Oppenheimer mutual funds. Each has earned a Zacks #1 Rank (Strong Buy) and is expected to outperform its peers in the future. Investors can click here to see the complete list of Oppenheimer funds.
Oppenheimer Rochester AMT-Free Munis A (OPTAX - Free Report) seeks tax-exempted income. OPTAX invests a large chunk of its assets in securities that are expected to provide returns exempted from regular federal and state income taxes. The assets of OPTAX are not invested in municipal securities, the interest income on which is not free from the federal "alternative minimum tax" (AMT). Oppenheimer Rochester AMT-Free Munis A fund has a one-year annualized return of 2.4%.
OPTAX has an expense ratio of 0.82% compared with the category average of 0.99%.
Oppenheimer Global Opportunities Y (OGIYX - Free Report) primarily invests in a wide range of domestic and foreign equity securities. OGIYX focuses on acquiring stocks, but may also purchase debt securities. The fund may invest a maximum of 25% of its assets in "below-investment-grade" securities or "junk bonds." Moreover, OGIYX may invest in developing or emerging countries and in small- and mid-cap companies. Oppenheimer Global Opportunities Y fund has a one-year annualized return of 12.2%.
Frank Jennings has been the fund manager of OGIYX since 1995.
Oppenheimer Rochester NJ Municipal Y (ONJYX - Free Report) seeks income free from tax. ONJYX invests a bulk of its assets in municipal securities, whose income is exempted from not only the federal income tax but also from ONJYX’s state income tax. The fund normally invests the majority of its assets in New Jersey muni bonds.Oppenheimer Rochester NJ Municipal Y fund has a one-year annualized return of 3.4%.
ONJYX has an expense ratio of 0.71% compared with the category average of 0.98%.
Oppenheimer Gold & Special Minerals Y (OGMYX - Free Report) invests mainly in common stocks of companies that are involved in mining, processing or dealing with gold. OGMYX seeks growth of capital. The fund may also invest nearly one-fourth of its assets in its subsidiary, the Oppenheimer Gold & Special Minerals Fund Ltd. Oppenheimer Gold & Special Minerals Y fund has a one-year annualized return of 36.2%.
As of October 2016, OGMYX held 114 issues, with 5.65% of its assets invested in Newmont Mining Corp.
To view the Zacks Rank and past performance of all Oppenheimer mutual funds, investors can click here to see the complete list of Oppenheimer funds.
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