The $125 million Oppenheimer Rochester Virginia Municipal Bond Fund (ORVAX) is down more than 15% this year, because of it contains 33% of Puerto Rican bonds, which have underperformed the broad municipal bond market. The S&P Municipal Bond Puerto Rico Index was down 21% year-to-date through Oct. 10, 1,900 basis points worse than the S&P […]

The $125 million Oppenheimer Rochester Virginia Municipal Bond Fund (ORVAX) is down more than 15% this year, because of it contains 33% of Puerto Rican bonds, which have underperformed the broad municipal bond market. The S&P Municipal Bond Puerto Rico Index was down 21% year-to-date through Oct. 10, 1,900 basis points worse than the S&P […]

On October 9, 2013, the office of Secretary of the Commonwealth of Massachusetts, William Galvin, announced it sent inquiry letter to Fidelity's FMR Co. Inc.; OppenheimerFunds, a unit of Massachusetts Mutual Life Insurance Co.; and UBS Financial Services Inc. Securities regulators have begun making inquiries regarding the sale of Puerto Rican municipal debt obligations to […]