Oppenheimer Global Fund Class A Share has maintained its Silver Analyst Rating by Morningstar, a leading global provider of independent investment research. Morningstar pointed to several key factors, including a seasoned investment team, consistent approach to growth investing, and low fees, as reasons for the fund’s Silver designation.
According to Morningstar, Rajeev Bhaman, CFA, OppenheimerFunds’ Global Equities Director and Portfolio Manager of Oppenheimer Global Fund, “has built an enviable record” during his 21 years at OppenheimerFunds and his “performance has been impressive” since he began managing the strategy in 2004.
Morningstar described how Rajeev and Co-Portfolio Manager John Delano, CFA, approach global growth investing. They seek “high-quality, innovative firms in industries with long-term structural growth,” according to Morningstar, and then hold stocks for the long-term, believing that well-run firms sustain their competitive advantages.
Morningstar said that “investors have been well rewarded with risk-adjusted returns that have been solidly above average over the past decade,” relative to OPPAX’s peers. The fund also earned a Positive Performance rating from Morningstar, which cited the fund’s top-quintile returns, compared with its peer group, over the three-, five-, and 10-year periods through May 2017. Below-average fees also contribute the fund’s overall four-star rating among 714 funds in the World Large Stock category over the three, five and ten year periods ended 6/30/17, based on risk adjusted performance.
According to Morningstar, “Patient, long-term investors would be well served by this fund.”
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The Morningstar Analyst Rating is not a credit or risk rating, but a subjective evaluation performed by the analysts of Morningstar, Inc. Morningstar evaluates funds based on five key pillars (process, performance, people, parent and price). Morningstar’s analysts use this valuation to identify funds they believe are more likely to outperform over the long term on a risk-adjusted basis. Analysts consider quantitative and qualitative factors and the weightings of each pillar may vary. The Analyst Rating reflects overall assessment and is overseen by Morningstar’s Analyst Rating Committee. The analyst rating scale is five-tiered, with three positive ratings (Gold, Silver, Bronze), a Neutral rating and a Negative rating, with Gold being the highest rating and Negative being the lowest rating. The Morningstar Analyst Ratings should not be used as the sole basis in evaluating a mutual fund and are based on Morningstar’s current expectations about future events. Morningstar does not represent ratings as a guarantee. Analyst Ratings involve unknown risks and uncertainties which may cause Morningstar’s expectations not to occur or to differ significantly. The Analyst Rating scale ranges from Gold to Negative, with Gold being the highest rating and Negative being the lowest rating. A fund with a “Gold” rating distinguishes itself across the five pillars and has garnered the analysts’ highest level of conviction. A fund with a ‘Silver’ rating has notable advantages across several, but perhaps not all, of the five pillars that give the analysts a high level of conviction. A “Bronze”-rated fund has advantages that outweigh the disadvantages across the five pillars, with sufficient level of analyst conviction to warrant a positive rating. A fund with a ‘Neutral’ rating isn’t seriously flawed across the five pillars, nor does it distinguish itself very positively. A “Negative” rated fund is flawed in at least one if not more pillars and is considered an inferior offering to its peers. Analyst Ratings are reevaluated at least every 14 months. For more detailed information about Morningstar’s Analyst Rating, including its methodology, please go to http://corporate.morningstar.com/us/documents/MethodologyDocuments
The Morningstar RatingTM for funds, or “star rating,” is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange-traded funds, closed-end funds, and separate accounts) with at least a three-year history. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product’s monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The top 10% of products in each product 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. The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar Rating metrics. The weights are: 100% three-year rating for 36-59 months of total returns, 60% five-year rating/40% three-year rating for 60-119 months of total returns, and 50% 10-year rating/30% five-year rating/20% three-year rating for 120 or more months of total returns. While the 10-year overall star rating formula seems to give the most weight to the 10-year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods. Oppenheimer Global Fund was rated against the following number of World Large Stock funds over the following time periods: For the 3-,5- and 10- year periods, respectively, the Fund was rated 4, 5 and 4 stars among 714 funds in the last three years, 590 funds in the last five years, and 329 funds in the last ten years. Morningstar Rating is for the A share class only without considering sales charges; other classes may have different performance characteristics. Past performance does not guarantee future results.