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DOMESTIC EQUITY

Equity Fund1 2 

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Focus: The Strategy typically invests in large-cap U.S. growth and value stocks.
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Management

Laton Spahr, CFA
Portfolio Manager
Managed fund since 3/13
Michael Kotlarz
Vice President and Portfolio Manager
Managed fund since 6/12
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Strategy

The portfolio managers invest in a combination of growth stocks and value stocks.   

The growth portfolio managers seek to invest in high quality, attractively valued companies with sustainable earnings and solid management.  The managers employ a disciplined investment process that combines strategic top-down sector analysis and bottom-up fundamental research.

The Value portfolio manager focuses on identifying companies that he believes are undervalued relative to their potential long-term earnings power.  He seeks to add value through a disciplined and consistent bottom-up approach to stock selection rather than through sector positioning or macroeconomic themes.
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Prior to 3/28/13, the Fund's name was Oppenheimer Equity Fund, Inc.
Special Risks: Fixed income investing entails credit and interest rate risks. When interest rates rise, bond prices generally fall, and the Fund's share prices can fall. Foreign investments may be volatile and involve additional expenses and special risks, including currency fluctuations, foreign taxes and geopolitical risks. Emerging and developing market investments may be especially 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, more established businesses, as these stocks tend to be more sensitive to changes in earnings expectations and tend to have lower trading volumes than large-cap securities, creating potential for more erratic price movements. 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. Investments in securities of growth companies may be volatile. 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.

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