Oppenheimer 60th Anniversary - 51

Rochester Funds: Managing Municipals
1996 OppenheimerFunds acquired Rochester Funds Manage-

ment Co. in Rochester, N.Y., and created a separate division, based
in Rochester, which now manages all the Firm's municipal funds.
For more on the Rochester division, see below and chapter six. n

GETTY IMAGES; AP IMAGES

of a chaotic period that would see a radical realignment of the telephone, broadcast, wireless, and
cable industries.
In what was perhaps one of the most strategically
important deals ever for the Company, OppenheimerFunds completed the purchase of the Rochester Funds
advisory business in January 1996. The deal, which
included the management of two popular New York
tax-exempt funds (Rochester Fund Municipals and
Limited Term New York Municipal Fund), gave the
Company an immediate and significant position

in the municipal bond fund market. Just as important, it brought in the investment expertise of a
specialized management and marketing group led
by Ron Fielding, founder of Rochester Funds, now
retired. Today, Rochester manages all 19 of the
Firm's municipal bond funds.
Less than three months after the Rochester
acquisition, OppenheimerFunds expanded its
fund portfolio again when it became the advisor
to the funds formerly managed by Connecticut
Mutual Life Insurance Company, following that

1997
The United Kingdom transfers sovereignty of Hong Kong to the People's
Republic of China.

company's merger into Massachusetts Mutual
Life Insurance Company. The former Connecticut
mutual funds became Oppenheimer Series Funds,
including Oppenheimer Value Fund.

OPPORTUNITIES FOR
STRATEGIC VALUE
Clearly, growth was an important consideration in all
three of the deals completed by midyear 1996, but just
as important was the strategic value that each brought
to OppenheimerFunds. Remarking on the acquisitions

1998
The Company adopts a new tagline,
The Right Way to Invest, to convey its
brand message.

OppenheimerFunds moves its message
onto the World Wide Web with the
debut of www.oppenheimerfunds.com.

1997

1997

The closing years of the decade saw increasing media coverage of
Y2K. In 1998, President Clinton signs the Year 2000 Information and
Readiness Disclosure Act. The legislation was intended to help provide informational tools in anticipation of Y2K computer problems.

1995-2000 Acquisition and Expansion

* 51



Oppenheimer 60th Anniversary

Table of Contents for the Digital Edition of Oppenheimer 60th Anniversary

Contents
Oppenheimer 60th Anniversary - Cover1
Oppenheimer 60th Anniversary - Cover2
Oppenheimer 60th Anniversary - 1
Oppenheimer 60th Anniversary - 2
Oppenheimer 60th Anniversary - Contents
Oppenheimer 60th Anniversary - 4
Oppenheimer 60th Anniversary - 5
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