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OppenheimerFunds Unveils Y Share Class
OppenheimerFunds has introduced a new Y share class for eight state-specific municipal bond funds.
OppenheimerFunds has introduced a new Y share class for eight state-specific municipal bond funds. Institutional investors, who sign agreements with the distributor of the Oppenheimer mutual funds, can purchase Y shares of Oppenheimer Rochester municipal bond funds at net asset value for their customers’ accounts.
The Oppenheimer Rochester Arizona Municipal Fund, the Oppenheimer RochesterMaryland Municipal Fund and the Oppenheimer Rochester Michigan Municipal Fund are some of the funds introducing the new shares. The Y shares, which are now available for all 20 OppenheimerFunds/Rochester municipal bond funds, allow institutional investors to give their customers greater access to tax-free income.
Click here for the release from PR Newswire.