Oppenheimer Select Value Fund Name Change

Highlights

  • On 12/11/13, Select Value Fund will change its name to Dividend Opportunity Fund.
  • The new name reflects a change in strategy to a dividend-oriented product.

Effective December 11, 2013, Oppenheimer Select Value Fund will change its name to Oppenheimer Dividend Opportunity Fund. Laton Spahr, CFA, will continue to manage the Fund and the benchmark will remain the Russell 3000 Value Index.

The new name reflects a change in strategy to a dividend-oriented product. We believe this change will better leverage the investment style and philosophy employed by Mr. Spahr. The Fund is expected to see an increase in its dividend yield, international exposure, and number of holdings.

Prior to joining OppenheimerFunds in March 2013, Mr. Spahr was co-lead of a team of six analysts at Columbia Management Investment Advisors. He began his investment career as an equities research analyst with Holland Capital Management in 1999 and received his Bachelor of Science degree from University of Wyoming and his Master of Science degree from University of Wisconsin. Mr. Spahr has earned the Chartered Financial Analyst designation. 

May invest up to 35% in foreign securities, which entail special risks, including currency fluctuations, foreign taxes and political and economic uncertainties, and may have higher expenses and volatility. Value investing involves the risk that undervalued securities may not appreciate as anticipated. Small and mid-sized company stock is typically more volatile than that of larger, more established businesses, as these stocks tend to be more sensitive to changes in earnings expectations. It may take a substantial period of time to realize a gain on an investment in a small or mid-sized company, if any gain is realized at all. There is no guarantee that the issuers of stocks held by mutual funds will declare dividends in the future, or that dividends will remain at their current levels or increase over time. Diversification does not guarantee profit or protect against loss.

Shares of Oppenheimer funds are not deposits or obligations of any bank, are not guaranteed by any bank, are not insured by the FDIC or any other agency, and involve investment risks, including the possible loss of the principal amount invested.

Before investing in any of the Oppenheimer funds, investors should carefully consider a fund's investment objectives, risks, charges and expenses. Fund prospectuses and summary prospectuses contain this and other information about the funds, and may be obtained by asking your financial advisor, visiting oppenheimerfunds.com, or calling 1.800.CALL OPP (225.5677). Read prospectuses and summary prospectuses carefully before investing.

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