April 2, 2019 Update
In anticipation of the Shareholder meeting scheduled on April 12, 2019, shareholders are actively being solicited for their vote via ongoing call campaigns. We recognize that phone solicitations can cause confusion, and sometimes frustration for you and your clients. Once a shareholders’ vote has been recorded, they will be removed from phone solicitations. If you would like to help your clients vote their shares, please contact the tabulator directly at (800) 821-2712. Your client will need to provide the control number found at the top of their proxy documents, OR their Name and Address or Phone Number so that the tabulator may locate their record(s).
Shareholders may also vote their shares online by accessing the OppenheimerFunds Investor Proxy Website. They will need to provide the control number found at the top of their proxy documents.
For additional questions and concerns regarding Proxy voting, please reach out to your OppenheimerFunds Internal Consultant by calling 800-255-2750 Option 2.
Important Notice Regarding OppenheimerFunds Proxy
OppenheimerFunds Proxies Began Mailing February 22, 2019
On October 18, 2018, Massachusetts Mutual Life Insurance Company, an indirect corporate parent of OppenheimerFunds, Inc. and its subsidiaries OFI Global Asset Management, Inc., OFI SteelPath, Inc. and OFI Advisors, LLC, announced that it had entered into an agreement whereby Invesco Ltd., a global investment management company, will acquire OppenheimerFunds, Inc. A key milestone in this transaction is the large-scale proxy effort, described here:
Proxy materials began mailing on February 22, 2019 to all shareholders of Oppenheimer Funds. Shareholders are being asked to consider and approve an agreement and plan of reorganization for their Fund. If the agreement is approved then their Oppenheimer Fund will reorganize into a corresponding, newly created Invesco Fund with the same (or, with respect to the ETFs, substantially similar) investment objective and substantially similar principal investment strategies and risks as the Oppenheimer Fund. The Invesco Fund will be managed by the current Oppenheimer Fund portfolio management team or, in the case of an Invesco ETF, by the Invesco portfolio management team. Key dates in the proxy process:
- February 22, 2019: Joint proxy statement/prospectus begin mailing
- April 12, 2019: Shareholder meeting, several funds expected to adjourn
- May 17, 2019: Second Shareholder meeting
After the closing of a reorganization, shareholders will own shares of an Invesco Fund that are equal in value to the value of the shares of the corresponding Oppenheimer Fund that was held immediately prior to the reorganization. With the combination, Invesco will be among the largest asset managers, with over $1 trillion in assets under management, and will offer a broader range of equity, fixed-income, alternative and other investment options.
OFI-Invesco Proxy Communications
Please encourage your clients to vote their shares
|OFI-Invesco Transition Proxy Communications Overview|
Please work with your clients to ensure they take any necessary action as noted below.
|Communications||Mailing to OFI Shareholders||Mailing to Financial Advisors||Call to Action||Estimated Mail Date|
|OFI Proxy Statement NY Fund Board||Yes||No||n/a||2/22/19|
|OFI Proxy Statement Denver Fund Board||Yes||No||n/a||2/22/19|
|OFI Proxy Announcement||Yes||Emailed||Please encourage your clients to vote their shares||2/22/19|
|OFI Invesco Q&A for Financial Advisors||No||No||To help you discuss with your clients||2/22/19|
|OFI Invesco New York Board, Denver Board, and ETF Proxy Letter||Yes||No||Please encourage your clients to vote their shares||2/22/19|