The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:Bloomberg Sees Muni Bond Pain Through OppFunds Not Rated 0.0 Email Routing List Email & Route  Print Print
Thursday, January 08, 2009

Bloomberg Sees Muni Bond Pain Through OppFunds

by: Neil Anderson, Managing Editor

2008 was a tough year for municipal bonds and the mutual funds that invest in them, and Ronald H. Fielding felt that pain more than most. Bloomberg's Michael McDonald highlights last year's 48.9 percent drop for Fielding's Oppenheimer Rochester National Municipals Fund, which gave it the dubious honor of feeling the biggest losses of the year for any tax-free high-yield fund, according to Morningstar.

Yet not too long ago, Fielding and the fund were on top of the muni bond fund world, earning 11.6 percent on average per year from 2003 through 2006.

"There's utter panic in the markets," Fielding told Bloomberg. "It has been a truly terrible year."

Bloomberg compares Fielding's results to Morningstar's overall data for 34 high yield muni bond funds, which averaged a 25.3 percent loss in 2008 (compared 9.5 percent for vanilla tax-exempt funds). 

Stay ahead of the news ... Sign up for our email alerts now

 Do You Recommend This Story?

Return to Top
 News Archives
2021: Q1
2020: Q4Q3Q2Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Add to My Yahoo!
follow us in feedly

©All rights reserved to InvestmentWires, Inc. 1997-2021
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use