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Shareholders accused OppenheimerFunds, a New York-based unit of Massachusetts Mutual Life Insurance Co, of misleading them about the safety of six funds, ignoring the funds’ stated objectives and risk guidelines, and inflating asset values. ...The six funds were: AMT-Free Municipals, Rochester Fund Municipals, Rochester AMT-Free New York Municipal, New Jersey Municipal, Pennsylvania Municipal and Rochester National Municipals. Rochester National specialized in high-yield securities, and remains one of the biggest funds in its class, with about $5.7 billion of assets as of July 31.The other five funds were designed to preserve shareholder principal by investing in high-quality securities.According to Morningstar Inc, the six funds’ Class A shares fell between 29 percent and 48.9 percent in 2008, ranking near the bottom of their respective categories.
Once MLPs are wrapped in a mutual fund or an ETF, their distributions are taxed at the fund's corporate rate, and what is left is paid to shareholders as a distribution. That payment then is taxed as dividend income, thereby effectively nullifying the main reason for investing in an MLP in the first place.
carew388 said:Per Yahoo Finance BBBMX and TRBUX have better 3 and 5 year returns than OSDAX.
Per Yahoo Finance BBBMX and TRBUX have better 3 and 5 year returns than OSDAX.
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