QGRYX

Global Allocation Fund

1

2

Overview

The strategy seeks to achieve attractive total returns without taking undue risk by dynamically allocating across a variety of asset classes with a short-to-medium term horizon

Inception Date: May 1, 2000

Investment Style: Global Allocation

Fund Index: 60% MSCI ACWI/40% BBG Barc Gbl Agg Hdg

CUSIP: 68380E833

NAV: (as of 12/13/2018); $18.23

Total Assets: (as of 11/30/2018); $1.44 BN

Gross Expense Ratio: (as of 11/30/2018); 1.09%

Net Expense Ratio

(as of 11/30/2018)

1.03%

Performance

Average Annual Total Returns

Cumulative Returns

Calendar Year Returns

Capital Gains Distributions

Multi Asset

Global Allocation Fund

CLASS Y: QGRYX

Average Annual Returns as of 09/30/2018

Average Annual Returns as of 11/30/2018

as of 11/30/2018

as of 09/30/2018

Sales charges are not applicable to Y & I Share Classes.

	Cumulative		Annualized
	ytd as of 2018-09-30 ^C	1 yr	3 yr	5 yr	10 yr	since inception
Global Allocation Fund (NAV) As of Quarter end 09/30/2018	-0.91%	1.35%	7.03%	4.79%	6.66%	4.41%
60% MSCI ACWI/40% BBG Barc Gbl Agg Hdg As of Quarter end 09/30/2018	2.40%	6.23%	9.00%	5.89%	6.97%	-

	Cumulative		Annualized
	ytd as of 2018-11-30 ^C	1 yr	3 yr	5 yr	10 yr	since inception
Global Allocation Fund (NAV) As of month end 11/30/2018	-5.73%	-4.90%	3.74%	3.13%	8.26%	4.09%
60% MSCI ACWI/40% BBG Barc Gbl Agg Hdg As of month end 11/30/2018	-1.25%	-0.21%	6.19%	4.42%	8.34%	-

Gross Expense Ratio: 1.09% | Net Expense Ratio: 1.03%

The performance data quoted represents past performance, which does not guarantee future results. The investment return and principal value of an investments in the Fund will fluctuate so that an investor's shares, when redeemed, may be worth more or less than the originals cost. Current performance and expense ratios may be lower or higher than the data quoted. Fund returns include changes in share price and reinvested distributions. Class Y shares are not subject to a sales charge. Returns do not consider capital gains or income taxes on an individual's investment.

Calendar Year Returns as of 11/30/2018

as of 11/30/2018

View Table Graph Print

Year	Global Allocation Fund	60% MSCI ACWI/40% BBG Barc Gbl Agg Hdg 5
2001	3.73%	-
2002	-19.51%	-
2003	30.96%	-
2004	10.62%	13.04%
2005	3.15%	5.45%
2006	10.94%	15.01%
2007	-3.62%	10.43%
2008	-31.34%	-24.35%
2009	33.34%	24.21%
2010	13.83%	10.98%
2011	-7.45%	-0.82%
2012	10.50%	11.86%
2013	18.25%	12.87%
2014	0.38%	3.36%
2015	0.60%	-1.70%
2016	5.02%	6.52%
2017	15.11%	15.19%

Cumulative Returns & Income Dividends

View Table Graph Print

Time Period

YTD

10Y

15Y

INCEPTION

Date	Global Allocation Fund	60% MSCI ACWI/40% Bloomberg Barclays Global Aggregate Bond Index Hedged USD 5	BBG Barclays Agg 5	S&P 500 5
11/30/2008	0.00	0.00	0.00	0.00
12/31/2008	4.54	4.83	3.73	1.06
1/31/2009	0.56	-1.60	2.82	-7.45
2/28/2009	-8.78	-8.11	2.43	-17.31
3/31/2009	-3.72	-2.48	3.85	-10.06
4/30/2009	5.47	4.78	4.35	-1.46
5/31/2009	15.65	12.10	5.10	4.05
6/30/2009	14.57	12.09	5.70	4.26
7/31/2009	24.98	18.91	7.41	12.15
8/31/2009	29.79	22.34	8.52	16.20
9/30/2009	33.60	26.71	9.66	20.53
10/31/2009	30.79	25.70	10.20	18.29
11/30/2009	36.71	30.20	11.63	25.39
12/31/2009	38.75	30.21	9.88	27.81
1/31/2010	37.04	27.20	11.56	23.21
2/28/2010	38.85	28.56	11.98	27.03
3/31/2010	45.61	33.17	11.84	34.69
4/30/2010	48.62	33.69	13.01	36.82
5/31/2010	39.88	25.67	13.96	25.90
6/30/2010	34.65	23.90	15.74	19.31
7/31/2010	41.30	31.40	16.98	27.66
8/31/2010	36.36	29.29	18.48	21.90
9/30/2010	47.35	37.73	18.61	32.78
10/31/2010	52.30	41.37	19.03	37.83
11/30/2010	49.57	38.00	18.35	37.85
12/31/2010	57.37	44.51	17.07	47.06
1/31/2011	57.26	46.12	17.21	50.55
2/28/2011	61.54	49.13	17.50	55.71
3/31/2011	61.71	49.45	17.57	55.77
4/30/2011	67.21	54.69	19.06	60.38
5/31/2011	65.07	52.97	20.61	58.57
6/30/2011	62.97	51.56	20.26	55.92
7/31/2011	62.36	51.16	22.17	52.75
8/31/2011	56.02	45.62	23.95	44.45
9/30/2011	42.20	36.53	24.85	34.30
10/31/2011	51.73	46.09	24.99	48.98
11/30/2011	48.86	42.97	24.88	48.65
12/31/2011	45.14	43.32	26.25	50.17
1/31/2012	51.53	49.23	27.36	56.90
2/29/2012	56.25	53.66	27.33	63.68
3/31/2012	56.42	54.04	26.63	69.07
4/30/2012	55.05	53.79	28.04	68.01
5/31/2012	45.82	45.14	29.20	57.91
6/30/2012	48.61	49.66	29.25	64.42
7/31/2012	48.61	51.57	31.03	66.70
8/31/2012	51.67	54.10	31.11	70.46
9/30/2012	55.09	57.70	31.29	74.86
10/31/2012	54.98	57.04	31.55	71.63
11/30/2012	56.25	58.36	31.76	72.63
12/31/2012	59.90	60.32	31.57	74.20
1/31/2013	66.15	64.29	30.65	83.22
2/28/2013	66.57	63.96	31.31	85.71
3/31/2013	68.59	65.82	31.41	92.68
4/30/2013	72.41	69.48	32.74	96.39
5/31/2013	73.26	67.54	30.37	100.98
6/30/2013	68.61	63.92	28.36	98.28
7/31/2013	75.10	69.42	28.53	108.37
8/31/2013	72.34	67.00	27.88	102.34
9/30/2013	80.50	73.48	29.09	108.68
10/31/2013	84.13	78.36	30.13	118.27
11/30/2013	85.83	79.43	29.64	124.93
12/31/2013	88.35	80.95	28.91	130.62
1/31/2014	84.13	77.54	30.81	122.65
2/28/2014	91.27	83.66	31.51	132.83
3/31/2014	89.15	84.13	31.29	134.79
4/30/2014	87.64	85.97	32.39	136.52
5/31/2014	89.59	88.83	33.90	142.08
6/30/2014	91.36	91.54	33.97	147.08
7/31/2014	87.45	89.45	33.63	143.67
8/31/2014	91.80	92.58	35.11	153.42
9/30/2014	86.98	86.86	34.19	149.86
10/31/2014	89.37	87.86	35.51	155.97
11/30/2014	91.11	89.60	36.47	162.85
12/31/2014	88.53	87.03	36.60	162.19
1/31/2015	87.98	85.53	39.47	154.32
2/28/2015	95.09	91.03	38.15	168.93
3/31/2015	95.20	88.79	38.80	164.68
4/30/2015	97.28	92.74	38.30	167.22
5/31/2015	100.02	91.35	37.96	170.66
6/30/2015	97.82	88.33	36.46	165.42
7/31/2015	98.59	89.53	37.41	170.98
8/31/2015	88.58	81.90	37.21	154.63
9/30/2015	84.94	78.35	38.14	148.33
10/31/2015	93.65	86.90	38.16	169.28
11/30/2015	93.21	86.02	37.80	170.08
12/31/2015	89.29	83.84	37.35	165.82
1/31/2016	83.83	78.21	39.24	152.63
2/29/2016	83.16	78.21	40.23	152.29
3/31/2016	90.74	86.66	41.52	169.40
4/30/2016	91.85	88.46	42.06	170.44
5/31/2016	91.52	88.94	42.10	175.30
6/30/2016	94.28	89.81	44.65	176.01
7/31/2016	99.54	95.16	45.56	186.19
8/31/2016	99.88	95.52	45.40	186.59
9/30/2016	101.81	96.25	45.31	186.65
10/31/2016	98.90	93.50	44.20	181.42
11/30/2016	95.66	93.10	40.79	191.84
12/31/2016	98.28	95.82	40.99	197.61
1/31/2017	102.08	98.73	41.26	203.25
2/28/2017	106.34	102.76	42.21	215.29
3/31/2017	108.91	104.22	42.14	215.66
4/30/2017	112.70	106.69	43.24	218.90
5/31/2017	117.54	109.92	44.34	223.39
6/30/2017	117.53	110.26	44.19	225.41
7/31/2017	120.75	114.05	44.81	232.10
8/31/2017	122.37	115.34	46.11	233.12
9/30/2017	122.60	117.43	45.42	239.99
10/31/2017	124.44	120.50	45.50	247.92
11/30/2017	125.71	123.20	45.31	258.59
12/31/2017	127.69	125.56	45.98	262.58
1/31/2018	135.65	132.46	44.30	283.34
2/28/2018	128.16	126.42	42.93	269.21
3/31/2018	125.74	124.29	43.85	259.83
4/30/2018	124.81	125.26	42.78	261.21
5/31/2018	126.66	125.78	43.80	269.91
6/30/2018	124.70	125.24	43.62	272.19
7/31/2018	127.35	129.33	43.66	286.04
8/31/2018	127.58	130.71	44.58	298.61
9/30/2018	125.16	130.97	43.65	300.88
10/31/2018	112.95	120.33	42.51	273.48
11/30/2018	114.21	122.73	43.36	281.09

Date	Dividends
3/17/2009	0.0582
6/16/2009	0.0442
9/22/2009	0.0341
12/7/2009	0.0304
3/16/2010	0.0338
6/22/2010	0.0431
9/21/2010	0.0539
12/30/2010	0.1272
3/22/2011	0.0181
6/21/2011	0.095
9/20/2011	0.0321
12/22/2011	0.3413
3/20/2012	0.0269
6/19/2012	0.0591
9/18/2012	0.0285
12/20/2012	0.0909
3/19/2013	0.0233
6/18/2013	0.0789
9/17/2013	0.042
12/17/2013	0.2668
3/18/2014	0.0161
6/17/2014	0.076
9/16/2014	0.0186
12/15/2014	0.133
3/16/2015	0.0289
6/15/2015	0.0911
9/21/2015	0.0322
12/14/2015	0.1948
3/21/2016	0.0098
6/20/2016	0.0858
9/19/2016	0.0249
12/22/2016	0.4976
3/20/2017	0.0127
6/19/2017	0.0316
12/21/2017	0.0317

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

Capital Gains and Distributions ($ per share) as of 12/12/2018

$ per share as of 12/12/2018

Date	2013	2014	2015	2016	2017
Short Term	—	—	—	—	—
Long Term	—	—	—	—	—
Total Amount of Distribution	—	—	—	—	—
Record Date	—	—	—	—	—
Ex Div Date	—	—	—	—	—
Pay Date	—	—	—	—	—

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

Portfolio

Top Holdings

6

(50.1% of assets as of 11/30/2018)

Portfolio Positioning

6

(79.5% of assets as of 11/30/2018)

US Equity	International Fixed Income	Alternatives	US Fixed Income	Emerging Equity	International Equity	FX Overlays
33.7%	18.3%	14.3%	11.8%	10.9%	8.4%	-17.9%

Multi Asset

Global Allocation Fund

CLASS Y: QGRYX

Portfolio Holdings Breakdown as of 11/30/2018

Portfolio Holdings Breakdown

6

Country

Developed Markets

Emerging Markets

Equity Sector

Fixed Income Sector

Country	Global Allocation Fund	60% MSCI ACWI/40% BBG Barc Gbl Agg Hdg	Overweight / Underweight
United States	57.6%	-	-
Japan	10.7%	-	-
France	7.0%	-	-
Bermuda	5.9%	-	-
Germany	4.5%	-	-
United Kingdom	3.2%	-	-
Multi	2.6%	-	-
Canada	2.0%	-	-
Spain	1.8%	-	-
Australia	1.7%	-	-
Netherlands	1.5%	-	-
Switzerland	1.5%	-	-
Italy	1.4%	-	-
Supranational (non-iso)	1.4%	-	-
Cayman Islands	1.2%	-	-
China	1.2%	-	-
Brazil	0.6%	-	-
Sweden	0.6%	-	-
South Africa	0.6%	-	-
South Korea	0.6%	-	-

Developed Markets	Global Allocation Fund	60% MSCI ACWI/40% BBG Barc Gbl Agg Hdg	Overweight / Underweight
Americas	66.6%	-	-
Asia Pacific	13.3%	-	-
Supranational	1.4%	-	-
Middle East	0.1%	-	-
Europe	-2.1%	-	-

Emerging Markets	Global Allocation Fund	60% MSCI ACWI/40% BBG Barc Gbl Agg Hdg	Overweight / Underweight
Asia Pacific	3.3%	-	-
Multi	2.6%	-	-
Americas	1.0%	-	-
Africa	0.6%	-	-
Europe	0.3%	-	-
Middle East	0.1%	-	-

Equity Sector	Global Allocation Fund	60% MSCI ACWI/40% BBG Barc Gbl Agg Hdg	Overweight / Underweight
Information Technology	10.8%	-	-
Consumer Discretionary	10.3%	-	-
Industrials	8.7%	-	-
Health Care	7.2%	-	-
Financials	6.4%	-	-
Communication Services	5.9%	-	-
Consumer Staples	5.8%	-	-
Energy	5.1%	-	-
Materials	2.0%	-	-
Real Estate	0.8%	-	-
Utilities	0.3%	-	-
Broad Market	-7.3%	-	-

Fixed Income Sector	Global Allocation Fund	60% MSCI ACWI/40% BBG Barc Gbl Agg Hdg	Overweight / Underweight
Treasuries	22.5%	-	-
Catastrophe	11.3%	-	-

Analytics

Multi Asset

Global Allocation Fund

CLASS Y: QGRYX

Analytics as of 11/30/2018

(As of 11/30/2018)

Morningstar 11/30/2018 (based on risk adjusted performance)

Overall Rating

Number of Funds

392

Ben Rockmuller, CFA

Portfolio Manager

Benjamin (Ben) Rockmuller, CFA is a senior portfolio manager of Oppenheimer Global Allocation Fund, Oppenheimer Global Multi-Asset Growth Fund, Oppenheimer Global Multi-Alternatives Fund and Oppenheimer Global Multi-Asset Income Fund. Additionally, he is responsible for the primary and secondary trading of event-linked bonds and has been involved with the analysis and management of insurance related investments since 2005.

Alessio de Longis, CFA

Portfolio Manager

Alessio de Longis, CFA, is a portfolio manager for the Global Multi-Asset Group (GMAG), which he joined in October 2013. Additionally, Mr. de Longis leads the group’s macro strategy, focusing on business cycle dynamics, global macro regimes, and their impact on asset class risks and returns, and manages active currency strategies in GMAG’s funds. From 2004 to 2013, he was a member of the Global Debt Team.

Documents

1. Because of changes to certain non-fundamental investment policies in connection with a change from a balanced strategy to a global allocation strategy, performance prior to 8/16/10 is not indicative of performance for any subsequent periods.
2. Foreign investments may be volatile and involve additional expenses and special risks, including currency fluctuations, foreign taxes, regulatory and geopolitical risks. Emerging and developing market investments may be especially volatile. Eurozone investments may be subject to volatility and liquidity issues. Investments in securities of growth companies may be volatile. Small and mid-sized company stock is typically more volatile than that of larger company stock. It may take a substantial period of time to realize a gain on an investment in a small-sized or mid-sized company, if any gain is realized at all. Event-linked securities are fixed income securities, otherwise known as Cat Bonds, for which the return of principal and interest payment is contingent on the non-occurrence of a trigger event that leads to physical or economic loss. If the trigger event occurs prior to maturity, the Fund may lose all or a portion of its principal and additional interest.Value investing involves the risk that undervalued securities may not appreciate as anticipated. 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. Below-investment-grade (“high yield” or “junk”) bonds are more at risk of default and are subject to liquidity risk. Derivative instruments entail higher volatility and risk of loss compared to traditional stock or bond investments. Commodity-linked investments are speculative and have substantial risks, including the loss of principal. The Fund may also invest through a wholly-owned Cayman Islands subsidiary, which involves the risk that changes to the laws of the Cayman Islands could negatively affect the Fund. Diversification does not guarantee profit or protect against loss.
3. The Manager has contractually agreed to waive expenses in an amount equal to the management fee it receives from its Subsidiary for so long as the Fund invests in the Subsidiary. This waiver may not be terminated without the prior approval of the Fund's Board of Trustees.
4. The net expense ratio (where applicable) 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.
5. The index returns are made up of the returns of (i) Composite Index representing 30% Russell 1000® Index/ 30% MSCI® ACWI ex-US/ 20% Bloomberg Barclays U.S. Aggregate Index/ 20% Bloomberg Barclays Multiverse ex US Index from January 1, 31, 2003 through September 30, 2015, and (ii) 60% MSCI® ACWI/ 40% Bloomberg Barclays Global Aggregate Bond Hedged USD from October 1, 2015 to present. The MSCI® ACWI is a free float-adjusted market capitalization weighted index that is designed to measure the equity market performance of developed and emerging markets. The Bloomberg Barclays Global Aggregate Bond Index provides a broad-based measure of global investment grade fixed-rate debt markets. The index is comprised of several other Barclays indexes that measure fixed income performance of regions around the world while hedging the currency back to the US dollar. The indices are unmanaged, are shown for illustrative purposes only, and cannot be purchased directly by investors. Past performance does not guarantee future results.
6. Holdings are subject to change, and are dollar weighted based on total new 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.
7. Class I shares are only offered to eligible institutional investors that make a minimum initial investment of $1 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.
A. 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 7:00pm ET daily. ↩
B. 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. Fund returns include changes in share price, reinvested distributions, and a 5.75% maximum sales charge where indicated. Returns do not consider capital gains or income taxes on an individual's investment. ↩
C. "Year to Date" returns are cumulative, not annualized, and do not reflect sales charges (if sales charges are applicable to the Fund). 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. ↩
D. There is no guarantee of the payment of any dividend or other distributions at any level. ↩
E. 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. Fund returns include changes in share price and reinvested distributions and a 1% contingent deferred sales charge for the first year where indicated. Class C shares are subject to a 0.75% annual asset-backed sales charge. Returns do not consider capital gains or income taxes on an individual's investment. ↩
F. The performance data quoted represents past performance, which does not guarantee future results. The investments 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. Fund returns include changes in share price and reinvested distributions. Class I shares are not subject to a sales charge. Returns do not consider capital gains or income taxes on an individual's investment. ↩
G. The performance data quoted represents past performance, which does not guarantee future results. The investment return and principal value of an investments in the Fund will fluctuate so that an investor's shares, when redeemed, may be worth more or less than the originals cost. Current performance and expense ratios may be lower or higher than the data quoted. Fund returns include changes in share price and reinvested distributions. Class R shares are not subject to a sales charge. Returns do not consider capital gains or income taxes on an individual's investment.
↩
H. The performance data quoted represents past performance, which does not guarantee future results. The investment return and principal value of an investments in the Fund will fluctuate so that an investor's shares, when redeemed, may be worth more or less than the originals cost. Current performance and expense ratios may be lower or higher than the data quoted. Fund returns include changes in share price and reinvested distributions. Class Y shares are not subject to a sales charge. Returns do not consider capital gains or income taxes on an individual's investment. ↩

Spoof Access

Global Allocation Fund

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