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GLOBAL EQUITY

Global Value Fund 1 

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Focus: The Strategy typically invests in a mix of U.S. and foreign value stocks.
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a
a
b
c
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Shares Ticker CUSIP Inception
Date
Priced Price Change 12 Month High 12 Month
Low
A GLVAX 68380Q109 10/1/07 42.43 0.10
C GLVCX 68380Q307 10/1/07 41.07 0.10
I3  GLVIX 68380Q604 8/28/12 42.84 0.11
N GLVNX 68380Q406 10/1/07 41.92 0.10
Y GLVYX 68380Q505 10/1/07 42.77 0.11

as of 4/17/14

The net expense ratio also takes into account contractual fee waivers and/or expense reimbursements without which performance would have been less. These undertakings may not be amended or withdrawn for one year from the date of the current prospectus, unless approved by the Board.

 

The performance data quoted represents past performance, which does not guarantee future results. The investment return and principal value of an investment in the Fund will fluctuate so that an investor's shares, when redeemed, may be worth more or less than the original cost. Current performance and expense ratios may be lower or higher than the data quoted. All fund returns include change in share price, reinvested distributions and the sales charges as listed below, unless "without sales charge" is indicated. Returns do not consider capital gains or income taxes on an individual's investment. Class A Share returns include a maximum sales charge of 5.75% (equity), 4.75% (most fixed income), 3.5% (Senior Floating Rate Fund, Senior Floating Rate Plus), 2.25% ("limited term" fixed income funds and Currency Opportunities Fund) and 0% (Money Market Funds). Class B Share returns include contingent deferred sales charge as follows:  For years 1 - 6 respectively, charges are 5%, 4%, 3%, 3%, 2%, 1% except for "limited term" fixed income funds (4%, 3%, 2%, 2%, 1%, 0%) and Senior Floating Rate (3%, 2% 1.5%, 1.5%, 1%, 0%). Class C Share returns include a 1% contingent deferred sales charge and are subject to an annual asset-based sales charge of 0.75%. Class N Share returns include a 1% contingent deferred sales charge and are subject to an annual asset-based sales charge of 0.25%. Annual asset-based sales charges are applied as follows: 0.75% on Class B/C; and 0.25%  for Class N shares. Class Y shares are not subject to a sales charge. 

 

The net expense ratio also takes into account contractual fee waivers and/or expense reimbursements without which performance would have been less. These undertakings may not be amended or withdrawn for one year from the date of the current prospectus, unless approved by the Board.

 

The performance data quoted represents past performance, which does not guarantee future results. The investment return and principal value of an investment in the Fund will fluctuate so that an investor's shares, when redeemed, may be worth more or less than the original cost. Current performance and expense ratios may be lower or higher than the data quoted. All fund returns include change in share price, reinvested distributions and the sales charges as listed below, unless "without sales charge" is indicated. Returns do not consider capital gains or income taxes on an individual's investment. Class A Share returns include a maximum sales charge of 5.75% (equity), 4.75% (most fixed income), 3.5% (Senior Floating Rate Fund, Senior Floating Rate Plus), 2.25% ("limited term" fixed income funds and Currency Opportunities Fund) and 0% (Money Market Funds). Class B Share returns include contingent deferred sales charge as follows:  For years 1 - 6 respectively, charges are 5%, 4%, 3%, 3%, 2%, 1% except for "limited term" fixed income funds (4%, 3%, 2%, 2%, 1%, 0%) and Senior Floating Rate (3%, 2% 1.5%, 1.5%, 1%, 0%). Class C Share returns include a 1% contingent deferred sales charge and are subject to an annual asset-based sales charge of 0.75%. Class N Share returns include a 1% contingent deferred sales charge and are subject to an annual asset-based sales charge of 0.25%. Annual asset-based sales charges are applied as follows: 0.75% on Class B/C; and 0.25%  for Class N shares. Class Y shares are not subject to a sales charge. 

 

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Peer Group

Morningstar Category

World Stock

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Fund Management

Randall Dishmon

Managed Fund since 10/07

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Investment Minimums

Initial: $1,000

Total Assets

$531.2 million

(all classes as of 3/31/14)

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Morningstar
Rating fg

as of 03/31/2014

star star star star

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d
bd
3 

The net expense ratio also takes into account contractual fee waivers and/or expense reimbursements without which performance would have been less. These undertakings may not be amended or withdrawn for one year from the date of the current prospectus, unless approved by the Board.

 

The performance data quoted represents past performance, which does not guarantee future results. The investment return and principal value of an investment in the Fund will fluctuate so that an investor's shares, when redeemed, may be worth more or less than the original cost. Current performance and expense ratios may be lower or higher than the data quoted. All fund returns include change in share price, reinvested distributions and the sales charges as listed below, unless "without sales charge" is indicated. Returns do not consider capital gains or income taxes on an individual's investment. Class A Share returns include a maximum sales charge of 5.75% (equity), 4.75% (most fixed income), 3.5% (Senior Floating Rate Fund, Senior Floating Rate Plus), 2.25% ("limited term" fixed income funds and Currency Opportunities Fund) and 0% (Money Market Funds). Class B Share returns include contingent deferred sales charge as follows:  For years 1 - 6 respectively, charges are 5%, 4%, 3%, 3%, 2%, 1% except for "limited term" fixed income funds (4%, 3%, 2%, 2%, 1%, 0%) and Senior Floating Rate (3%, 2% 1.5%, 1.5%, 1%, 0%). Class C Share returns include a 1% contingent deferred sales charge and are subject to an annual asset-based sales charge of 0.75%. Class N Share returns include a 1% contingent deferred sales charge and are subject to an annual asset-based sales charge of 0.25%. Annual asset-based sales charges are applied as follows: 0.75% on Class B/C; and 0.25%  for Class N shares. Class Y shares are not subject to a sales charge. 

 

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Top Stock Holdings by Issuers 4  as of 3/31/14
 View More Issuers
  % Net Assets
1 Citigroup, Inc. 4.0
2 Twenty-First Century Fox, Inc. 4.0
3 Blinkx plc 3.7
4 Credit Suisse Group AG 3.5
5 Christian Dior 2.8
6 Baidu.com 2.7
7 Assured Guaranty Ltd. 2.7
8 Yandex N.V. 2.6
9 Viacom, Inc.- Class B 2.6
10 Swedish Match AB 2.6
  Total 31.2
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Risk Measurement h as of 3/31/14
Share Class Beta
(3 yr)
Alpha R-squared Sharpe Ratio Standard Deviation (3 yr)
A 1.15 2.77 90.38 0.76 17.6%
C 1.15 1.99 90.39 0.72 17.6%
I3  —%
N 1.15 2.50 90.40 0.74 17.6%
Y 1.15 3.07 90.34 0.78 17.6%
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Portfolio Statistics i as of 3/31/14 ——
Weighted Avg Market Cap Weighted Median Market Cap P/E EPS
(next 12 months)
P/E Operating (LTM) Price/Book Value (LTM) Turnover
Ratio
42.9 billion 14.5 billion 15.61 19.08 1.62 87.0%
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Top Regions 4  as of 3/31/14
  % Net Assets
1 Americas - Developed 46.5
2 Europe - Developed 37.0
3 Asia Pacific - Emerging 7.7
4 Europe - Emerging 4.5
5 Asia Pacific - Developed 4.1
6 Americas - Emerging 1.6
  Total 101.3
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Top Countries 4  as of 3/31/14
  % Net Assets
1 United States 46.5
2 Switzerland 7.9
3 France 7.3
4 Sweden 7.3
5 United Kingdom 5.3
6 Russia 4.5
7 Germany 4.3
8 Japan 4.1
9 India 3.4
10 China 3.2
  Total 93.8
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Top Sectors 4  as of 3/31/14
  % Net Assets
1 Consumer Discretionary 35.0
2 Financials 21.3
3 Information Technology 17.9
4 Consumer Staples 8.9
5 Telecommunication Services 7.2
6 Materials 5.1
7 Industrials 1.9
8 Healthcare 1.8
9 Utilities 1.6
10 Energy 0.7
  Total 101.3
—— —— —— Income Dividends ($ per share) 5 j
Dividend/Share ($) 12-Month Distribution ($)
A 0.0541 0.0541
C
I3  0.1581 0.1581
N
Y 0.1263 0.1263

Frequency: Yearly Pay Date: 12/4/13

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3 
—— Capital Gains Distributions ($ per share)as of 4/17/14
  Short-Term ($) Long-Term ($) Total Amount of Distribution ($) Record Date Ex Div Date Pay Date
2013
2012
2011 0.0000 0.1263 0.1263 12/5/11 12/6/11 12/7/11
2010
2009
2008
2007
2006
2005
2004

There is no guarantee of the payment of any dividend or other distributions at any level.

 

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Strategy

The portfolio manager has the flexibility to invest in any size company, located anywhere in the world.  The portfolio manager uses rigorous fundamental research to search for quality businesses with durable advantages, cheap earnings on modest assumptions, high free cash flow yields, improving balance sheets, sound managements with interests aligned with those of the shareholders, and unique asset opportunities that may make them acquisition targets or support private market value.

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Commentary

» Access all commentaries

Title
Content Type
Date
Global Value Fund Commentary
Portfolio Commentary
02/24/2014

Special Risks: 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. Due to the recent global economic crisis that caused financial difficulties for many European Union countries, Eurozone investments may be subject to volatility and liquidity issues. 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. Diversification does not guarantee profit or protect against loss.

Access index definitions.

Class I shares are only offered to eligible institutional investors that make a minimum initial investment of $5 million or more and to retirement plan service provider platforms. The minimum account balance for class I shares is $2.5 million. Class I shares are sold at net asset value without a sales charge. Please see Fund prospectuses for additional information.

Holdings are subject to change, and are dollar weighted based on total net assets. Negative weightings may result from the use of leverage. Leverage involves the use of various financial instruments or borrowed capital in an attempt to increase investment return. Leverage risks include potential for higher volatility, greater decline of the fund's net asset value and fluctuations of dividends and distributions paid by the fund.

While the Dividend/Share column is updated the next business day after a dividend payment (as stated in the date below the table), the 12-Month Distribution ($) column is updated monthly. Therefore, there may be a time where the 12-Month Yield data is inconsistent with the Dividend/Share data.

For Class A Shares the starting value is $9,425 which takes into account the current maximum initial sales charge (unless "no sales charge" option chosen).

"Year to Date" returns are cumulative, not annualized, and do not reflect sales charges.  These returns would be lower if sales charges were taken into consideration.  Short-term returns may not be indicative of longer-term performance, which should also be considered when making investment decisions.

Index performance will be available approximately five days after each month-end.

Daily net asset value and dollar change of the fund is as of the previous business day's closing. Fund net asset values are updated at approximately 7 p.m. ET daily.

OppenheimerFunds' equity style box is based on the portfolio's overall targeted capitalization range and relative valuation as determined by OFI.

For each fund with at least a three-year history, Morningstar calculates a Morningstar Rating based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a fund's monthly performance (including the effects of sales charges, loads, and redemption fees), placing more emphasis on downward variations and rewarding consistent performance.  The top 10% of funds in each category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star with some adjustments for multiple share class portfolios.   The Overall Morningstar Rating for a fund is derived from a weighted average of the performance figures associated with its three-, five and ten-year (if applicable) Morningstar Rating Metrics.  Oppenheimer Global Value Fund was rated against the following numbers of U.S.-domiciled World Stock over the following time periods ended 3/31/14:  804 funds in the last three years, 642 funds in the last five years, and in the last ten years.  With respect to these World Stock funds, Oppenheimer Global Value Fund received a Morningstar Rating of 3 stars, 5 stars and — stars for the three-, five-, and ten-year periods, respectively.  Morningstar Rating is for the A share class only and rating may include more than one share class of funds in the category, including other share classes of this Fund. Different share classes may have different expenses, performance characteristics and Morningstar ratings.  Past performance is no guarantee of future results.

Class A shares rated 4 stars overall by Morningstar among  804  World Stock funds for the 3-, 5-, and 10 year period ended 3/31/14 based on risk-adjusted performance.

Beta (3-yr): is a measure of a fund's sensitivity to market movements. The beta of a market is 1.00 by definition.

Alpha (3-yr): measures the difference between a fund's actual and expected returns, based on beta, and is generally used as a measure of a manager's added value over a passive strategy.

R-squared (3-yr): is a measurement of how closely a portfolio's performance correlates with the performance of a benchmark index, and thus a measurement of what portion of its performance can be explained by the performance of the index. Values for R-squared range from 0 to 100, where 0 indicates no correlation and 100 indicates perfect correlation.  

Sharpe Ratio (3-yr): is a risk-adjusted measure that measures reward per unit of risk. the higher the Sharpe Ratio, the better. The numerator is the difference between the portfolio's annualized return and the annualized return of a risk-free instrument, the denominator is the portfolio's annualized standard deviation (population).

Standard Deviation (3-yr): is a statistical measure of the degree to which the performance of a portfolio varies from its average performance during a specified period. the higher the standard deviation, the greater the volatility of the portfolio's performance returns relative to its average return.

Alpha, Beta and R-Squared were measured against the fund's benchmark: . Access index definitions.

Source: Morningstar, Inc. Although this data has been gathered from sources Morningstar believes to be reliable, its completeness and accuracy cannot be guaranteed.

P/E ratio: The price of a stock divided by its earnings per share. The higher the P/E, the more investors pay, the more return they may expect and the riskier the stock may be.

P/B ratio: Abbreviation for price to book value ratio. It's the market value of a company's stock divided by its book value.

Earnings Growth: Revenue, minus cost and expenses, for a certain period.

Turnover ratio: A measure of the strategy's trading activity, which is computed by taking the lesser of purchases or sales during the strategy's latest fiscal year, divided by the total net asset value (NAV).

There is no guarantee of the payment of any dividend or other distributions at any level.

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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