In the above commentary, George Evans, the Portfolio Manager of Oppenheimer International Diversified Fund, provides his latest views on the international equity markets and their impact on the Fund. Within each commentary, he offers insight on:
- Fund Performance
- Sector Analysis
- Individual Holdings Driving Results
- Strategy & Outlook
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Foreign investments may be volatile and involve additional expenses and special risks, including currency fluctuations, foreign taxes, regulatory and geopolitical risks. Emerging and developing market investments may be especially volatile. Investments in securities of growth companies may be volatile. Value investing involves the risk that undervalued securities may not appreciate as anticipated. Mid-sized company stock is typically more volatile than that of larger company stock. It may take a substantial period of time to realize a gain on an investment in a mid-sized company, if any gain is realized at all. While the Fund may be appropriate for a portion of a retirement plan investment, it is not a complete investment program. Portfolio managers will have the authority to select and substitute certain underlying Oppenheimer funds, as designated in the prospectus, and may be subject to potential conflicts of interest because the fees paid to it by some underlying funds are higher than the fees paid by others. However, the managers are fiduciaries to each portfolio and are obligated to act in its best interests when selecting funds. Each of the funds in which the portfolios invest has its own investment risks, and those risks can affect the value of each portfolio’s share and investments. There is no guarantee that the underlying funds will achieve their investment objectives. The underlying funds may change their investment objectives or policies without the approval of the portfolio, and a portfolio may be forced to sell its shares of the underlying funds at a disadvantageous time. Diversification does not guarantee profit or protect against loss.
Mutual funds are subject to market risk and volatility. Shares may gain or lose value.
These views represent the opinions of the Portfolio Manager and are not intended as investment advice or to predict or depict the performance of any investment. These views are as of the publication date, and are subject to change based on subsequent developments.