Sat, Jul 26, 2014, 1:31 PM EDT - U.S. Markets closed

Recent

% | $
Click the to save as a favorite.

Oppenheimer Rochester High Yld Muni A Message Board

  • jimu3855 jimu3855 Dec 21, 2007 5:44 PM Flag

    Fund manager should be FIRED

    This Fund is a disaster - the fund manager is no where to be seen. Performance like this in any other fund would have the manager all over the place -- defending the Fund but not here. These people get paid huge amounts of money to manage these funds and not a word. They don't read these sites nor care what any of us investors think. I for one have had it with the Oppenheimer attitude and going to dump it all. If your smart you should run fast and let the last person - turn out the lights. I am going to write a letter protesting this mess just to make me feel better because no one else seems to care. Until some of the big money manager start dumping these almost junk bond funds -- they won't care a bit about anyone else. What we need is one of the BIG Mutual Fund analyist writing a big Wall Street article about this fund and then you would get some action. Good luck everyone but I am running back to CD and simple Money market funds. OH - by the way I fired the broker who suggested this fund.

    Jim (Jimu3855@yahoo.com)

    SortNewest  |  Oldest  |  Most Replied Expand all replies
    • These are advisor sold funds so you should be talking with your advisor...they have access to the conference calls. They have been keeping us up to date very well. In fact, I believe they have already had 2 conference calls this year. They are having another one on March 12th.

    • I agree. Why was this fund down when Muni Bonds in general were UP for the year?????

      • 1 Reply to jsilk55
      • Just my take. All the bond funds that i searched seems affected no matter AAA or BBBs rated. Although the rochester bond funds has been affected the most. When i invested my retirement in 2004 , i had a choice either to invest in individual 30 year munis or invest in the bond fund and i made the choice, to invest in ROCHESTER . Either way, the value of my investment will be lower but i will just hold on to it and enjoy the monthly dividend. Within the next 5-10 years i expect that we are back to the upper NAVs. A better option is to ask for your dividend monthly and keep it coming. One thing that will make me very mad is if this fund stop paying the dividends , the chance is probably nil. This mortgage mess is very painful to some of us , due mostly from the WALL STREET GREED(CDOs), BOND INS. and from ROCKEFELLER WANNA BE Home buyers and flippers. It is not easy to see the investment losing 5-10 K daily. There is always some pain associated with investing.

    • Good luck with your under 4% CD and money market funds which will continue to drop in yield due to the fed cutting rates. I'm actually putting more money in, and I'll be sure to give my advisor a raise. The fund is targeting 6.5% so at the end of the year when this fund has rebounded and I'm banking that yield, you'll still be stuck in your 4.5% (if you're lucky) CD or under 3.5% money market. PROMOTE THE FUND MANAGER for having the right call to go out and sell it's quality paper at a large premium in the midst of the muni bond selloff, to buy higher yielding muni's on sale!

      • 1 Reply to algarvio2002
      • While it is true that this fund looks historically very attractive, the question about Bond Insurers' insolvency and its impact on Muni's is casting some shadow here...

        If the Government intervenes to dissipate these clouds, the potential for ORNAX to appreciate by 10-15% in the next 6 to 12 months is clearly there.

        What do other people think ??

    • No offense...but you really shouldn't be investing. Money Markets do sound like the best thing for you. Look, investing is long term. Period. Credit crunches happen periodically...it all works out in the end. The bonds in this fund tend to be of lower quality to get the higher yield they offer. But, in these times, you pay for that risk. No worries. Keep collecting your nice 6% plus dividend and eventually the credit markets will work themselves out and the bond prices will recover. It's happened before and it'll happen again. If you can't handle it, go bury your money in your back yard. Don't fire you advisor. Man alive.

      • 2 Replies to mistercha_cha
      • This fund IS a disaster. I used to own it but sold it about 2 dollars ago. Annualized return for three years is just over 1%. I know, patience is needed for investing, but this is too much to excuse.

      • I can understand the ebb and flow of markets. My concern is that my father's trusted adviser had him put a lot of money into this three years ago "for the 6% dividend". When I questioned the fund six months ago I was told not to worry but now the fund has fallen even further. At what point should the adviser addressed the free fall and earned his commission by suggesting my retired father move his funds to a more secure place? The buy and hold mentality was fine for his J&J investment but not so sure as a retiree he should have Rochester.

 
ORNAX
7.01+0.01(+0.14%)Jul 25 6:24 PMEDT

Trending Tickers

i
Trending Tickers features significant U.S. stocks showing the most dramatic increase in user interest in Yahoo Finance in the previous hour over historic norms. The list is limited to those equities which trade at least 100,000 shares on an average day and have a market cap of more than $300 million.