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03

OppenheimerFunds’ Loughran to Step Down as Head of Muni Funds

By Tony Seruga

Loughran, 52, to retire from firm at the end of September
Fund managers Cottier, Willis to succeed Loughran as co-chiefs

OppenheimerFunds’ Dan Loughran, who oversees $24 billion of municipal-bond funds for the firm, will step down at the end of September after a decade leading a group known for aggressive bets on high-yield state and local-government debt.

Loughran, 52, started with the firm’s Rochester funds in 1994 when it was an independent company and has led the group since 2006. He has shifted to an advisory role to help Chief Investment Officer Krishna Memani with the transition, OppenheimerFunds said in a statement. Portfolio managers Scott Cottier and Troy Willis were appointed co-heads of the municipal-bond group…

OppenheimerFunds’ Loughran to Step Down as Head of Muni Funds

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