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OppenheimerFunds Completes SteelPath Acquisition



MLPs hunt exciting opportunities in an attempt to generate income by investing in energy infrastructure.

OppenheimerFunds completed the purchase of SteelPath Capital Management and SteelPath Fund Advisors (“SteelPath”) effective December 3, 2012. SteelPath is a leading innovator in developing Master Limited Partnership (MLP) investment products and was first to market with MLP-focused open-end mutual funds providing investors convenient access to this growing asset class. The MLP structure has evolved to become the dominant form of organization used by energy infrastructure operators, similar to how real estate investment migrated to the REIT structure. Energy infrastructure assets include crude oil, petroleum products, and natural gas pipelines, tanks, terminals, and storage facilities characterized by their strategic importance and long useful lives.

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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.

Oppenheimer funds are distributed by OppenheimerFunds Distributor, Inc.
Two World Financial Center, 225 Liberty Street, New York, NY 10281-1008