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OOSNX

Senior Floating Rate Fund

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Overview

The Strategy typically invests in senior loans.

Inception Date
October 26, 2012
Investment Style
Senior Floating Rate Loans
Fund Index
J.P. Morgan Leveraged Loan Index
CUSIP
68381K507
NAV
  • B
(as of 01/22/2019)
$7.85
Total Assets
(as of 12/31/2018)
$13.47 BN
Gross Expense Ratio
(as of 12/31/2018)
1.39%
Net Expense Ratio
(as of 12/31/2018)
1.38%
Performance
Average Annual Total Returns
Cumulative Returns
Calendar Year Returns
Capital Gains Distributions
as of 12/31/2018
  • H
as of 12/31/2018
  • H

Include Sales Charge
Include Sales Charge
Include Sales Charge
Include Sales Charge
  • H
Cumulative
Annualized
ytd as of 2018-12-31
  • D
1 yr 3 yr 5 yr 10 yr since inception
Senior Floating Rate Fund (NAV)
-1.13% -1.13% 4.84% 2.43% - 3.12%
J.P. Morgan Leveraged Loan Index
1.08% 1.08% 4.98% 3.56% 8.42% -
Cumulative
Annualized
ytd as of 2018-12-31
  • D
1 yr 3 yr 5 yr 10 yr since inception
Senior Floating Rate Fund (with sales charge)
-1.13% -1.13% 4.84% 2.43% - 3.12%
J.P. Morgan Leveraged Loan Index
1.08% 1.08% 4.98% 3.56% 8.42% -
Cumulative
Annualized
ytd as of 2018-12-31
  • D
1 yr 3 yr 5 yr 10 yr since inception
Senior Floating Rate Fund (NAV)
-1.13% -1.13% 4.84% 2.43% - 3.12%
J.P. Morgan Leveraged Loan Index
1.08% 1.08% 4.98% 3.56% 8.42% -
Cumulative
Annualized
ytd as of 2018-12-31
  • D
1 yr 3 yr 5 yr 10 yr since inception
Senior Floating Rate Fund (with sales charge)
-1.13% -1.13% 4.84% 2.43% - 3.12%
J.P. Morgan Leveraged Loan Index
1.08% 1.08% 4.98% 3.56% 8.42% -
Gross Expense Ratio: 1.39% | Net Expense Ratio: 1.38%

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.
 


Year Senior Floating Rate Fund J.P. Morgan Leveraged Loan Index
2013 6.11% 6.15%
2014 0.30% 2.40%
2015 -2.43% 0.54%
2016 12.45% 9.78%
2017 3.64% 4.25%
2018 -1.13% 1.08%

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.
 


Date Senior Floating Rate Fund J.P. Morgan Leveraged Loan Index (Linked Index) BBG Barclays Agg
12/31/2008 0.00 0.00 0.00
1/31/2009 2.26 5.78 -0.88
2/28/2009 2.29 6.14 -1.26
3/31/2009 2.28 7.17 0.12
4/30/2009 9.23 15.75 0.59
5/31/2009 16.86 22.35 1.32
6/30/2009 24.66 27.10 1.90
7/31/2009 29.16 32.37 3.54
8/31/2009 32.26 35.32 4.62
9/30/2009 36.37 39.77 5.72
10/31/2009 38.45 40.68 6.24
11/30/2009 39.72 41.08 7.61
12/31/2009 43.51 44.87 5.93
1/31/2010 46.72 47.49 7.55
2/28/2010 47.86 47.97 7.95
3/31/2010 50.89 51.16 7.82
4/30/2010 53.46 53.10 8.94
5/31/2010 51.33 49.95 9.86
6/30/2010 51.11 49.58 11.58
7/31/2010 53.23 51.72 12.77
8/31/2010 54.14 52.27 14.22
9/30/2010 56.21 54.22 14.34
10/31/2010 58.96 56.47 14.75
11/30/2010 60.07 57.23 14.09
12/31/2010 62.38 59.32 12.86
1/31/2011 64.84 62.45 12.99
2/28/2011 66.12 63.31 13.27
3/31/2011 66.37 63.54 13.34
4/30/2011 67.68 64.53 14.78
5/31/2011 68.00 64.63 16.27
6/30/2011 67.73 64.09 15.93
7/31/2011 68.01 64.36 17.77
8/31/2011 60.88 57.52 19.49
9/30/2011 61.39 57.92 20.36
10/31/2011 65.34 62.01 20.49
11/30/2011 64.66 61.40 20.39
12/31/2011 66.23 62.21 21.71
1/31/2012 69.65 65.45 22.78
2/29/2012 70.95 66.68 22.75
3/31/2012 72.34 67.85 22.08
4/30/2012 73.04 69.17 23.43
5/31/2012 71.91 68.30 24.55
6/30/2012 72.65 69.55 24.60
7/31/2012 74.02 71.20 26.32
8/31/2012 75.70 73.00 26.40
9/30/2012 77.66 74.87 26.57
10/31/2012 78.23 75.46 26.82
11/30/2012 79.05 76.17 27.02
12/31/2012 80.25 77.46 26.84
1/31/2013 82.11 79.44 25.95
2/28/2013 82.88 80.14 26.58
3/31/2013 84.53 81.67 26.69
4/30/2013 85.97 83.03 27.97
5/31/2013 86.36 83.45 25.68
6/30/2013 85.65 82.45 23.74
7/31/2013 87.29 84.39 23.91
8/31/2013 87.64 84.46 23.28
9/30/2013 88.07 85.00 24.44
10/31/2013 89.50 86.49 25.45
11/30/2013 90.65 87.37 24.98
12/31/2013 91.81 88.38 24.27
1/31/2014 92.65 89.71 26.11
2/28/2014 93.06 90.13 26.78
3/31/2014 93.70 90.83 26.56
4/30/2014 93.68 91.26 27.63
5/31/2014 94.63 92.44 29.08
6/30/2014 95.73 93.60 29.15
7/31/2014 95.94 93.51 28.83
8/31/2014 95.72 93.97 30.25
9/30/2014 94.54 92.96 29.37
10/31/2014 94.82 93.85 30.64
11/30/2014 95.49 94.74 31.56
12/31/2014 92.87 92.89 31.69
1/31/2015 92.87 93.70 34.45
2/28/2015 95.42 96.42 33.18
3/31/2015 95.86 97.37 33.80
4/30/2015 97.27 99.05 33.32
5/31/2015 97.69 99.25 33.00
6/30/2015 96.44 98.69 31.55
7/31/2015 96.94 99.29 32.47
8/31/2015 95.67 98.19 32.28
9/30/2015 94.18 97.18 33.17
10/31/2015 93.97 97.24 33.19
11/30/2015 91.49 95.41 32.84
12/31/2015 88.90 93.94 32.41
1/31/2016 86.25 92.72 34.23
2/29/2016 85.04 91.89 35.19
3/31/2016 90.91 97.22 36.43
4/30/2016 94.99 100.62 36.95
5/31/2016 97.88 102.44 36.98
6/30/2016 98.21 102.30 39.45
7/31/2016 101.12 105.12 40.33
8/31/2016 102.96 106.67 40.17
9/30/2016 106.10 108.39 40.09
10/31/2016 108.95 109.70 39.01
11/30/2016 109.96 110.49 35.73
12/31/2016 112.94 112.91 35.92
1/31/2017 113.94 113.81 36.18
2/28/2017 115.62 115.07 37.10
3/31/2017 115.59 115.20 37.03
4/30/2017 115.98 115.94 38.08
5/31/2017 116.38 116.73 39.15
6/30/2017 116.00 116.84 39.01
7/31/2017 117.81 118.47 39.61
8/31/2017 117.65 118.32 40.86
9/30/2017 117.81 119.24 40.19
10/31/2017 119.14 120.69 40.27
11/30/2017 119.10 121.05 40.09
12/31/2017 120.97 121.95 40.73
1/31/2018 123.08 124.33 39.11
2/28/2018 123.72 124.67 37.79
3/31/2018 123.62 125.45 38.68
4/30/2018 124.01 126.45 37.64
5/31/2018 124.80 126.93 38.63
6/30/2018 124.49 127.12 38.46
7/31/2018 126.42 128.93 38.49
8/31/2018 127.07 130.04 39.38
9/30/2018 128.77 131.66 38.48
10/31/2018 127.71 131.57 37.39
11/30/2018 124.68 129.65 38.21
12/31/2018 119.00 124.35 40.75
Date Dividends
1/31/2014 0.0347
2/28/2014 0.0262
3/31/2014 0.0264
4/30/2014 0.0274
5/30/2014 0.0293
6/30/2014 0.0255
7/31/2014 0.0274
8/29/2014 0.0288
9/30/2014 0.0275
10/31/2014 0.0303
11/28/2014 0.0265
12/31/2014 0.0378
1/30/2015 0.0282
2/27/2015 0.0255
3/31/2015 0.0264
4/30/2015 0.0269
5/29/2015 0.0259
6/30/2015 0.0265
7/31/2015 0.0286
8/31/2015 0.0265
9/30/2015 0.0274
10/30/2015 0.0299
11/30/2015 0.0277
12/31/2015 0.0337
1/29/2016 0.0316
2/29/2016 0.03
3/31/2016 0.0326
4/29/2016 0.0303
5/31/2016 0.0326
6/30/2016 0.0313
7/29/2016 0.0326
8/31/2016 0.0301
9/30/2016 0.0304
10/31/2016 0.0286
11/30/2016 0.0272
12/30/2016 0.0328
1/31/2017 0.0268
2/28/2017 0.0226
3/31/2017 0.0269
4/28/2017 0.0233
5/31/2017 0.0231
6/30/2017 0.024
7/31/2017 0.0263
8/31/2017 0.0324
9/29/2017 0.0243
10/31/2017 0.0278
11/30/2017 0.0266
12/29/2017 0.0272
1/31/2018 0.026
2/28/2018 0.0218
3/29/2018 0.0246
4/30/2018 0.0226
5/31/2018 0.0268
6/29/2018 0.027
7/31/2018 0.0281
8/31/2018 0.0313
9/28/2018 0.0293
10/31/2018 0.0306
11/30/2018 0.0311
12/31/2018 0.0375

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

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.
 

$ per share as of 01/22/2019

Date 2014 2015 2016 2017 2018
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 Industries

(95.5% of assets as of 12/31/2018)


Portfolio Holdings Breakdown

Asset Allocation
Credit Rating Allocation 6
Asset Allocation Senior Floating Rate Fund J.P. Morgan Leveraged Loan Index Overweight / Underweight
Senior Loans 91.9% 100.0% -8.1%
Equity 3.4% - -
Corporate Bonds 1.4% - -
Credit Rating Allocation Senior Floating Rate Fund J.P. Morgan Leveraged Loan Index Overweight / Underweight
BBB 1.6% 9.7% -8.1%
BB 29.8% 31.2% -1.4%
B 53.9% 49.3% 4.6%
CCC 2.6% 2.0% 0.6%
D 0.1% - -
Unrated 5.3% 7.8% -2.6%
Other 3.4% - -
Analytics
(As of 12/31/2018)

Morningstar 12/31/2018 (based on risk adjusted performance)
Overall Rating
Number of Funds
213
Category
Bank Loan
Performance Statistics
3Y
5Y
Alpha
-0.96
-1.68
Beta
1.22
1.21
Information Ratio
-0.12
-1.09
R-Squared
93.22
92.57
Sharpe Ratio
1.02
0.55
Standard Deviation
3.51
3.19
Sortino Ratio
1.76
0.88
Tracking Error
1.14
1.03
Yields
Dividend Yield (with sales charge)
0.00%
Dividend Yield (w/o sales charge)
5.73%
Standardized Yield
5.95%
Unsubsidized Yield
5.94%
Portfolio Characteristics
Fund
Fund Index
Average Effective Maturity
4.73 yrs
5.29 yrs
Current Duration
0.00 yrs
-
Average Coupon
5.73%
-
Effective Coupon
5.73%
-
Effective Discount Margin
1317 bps
458 bps
Loan Average Price
$93.57
$94.54
Turnover Ratio
66%
-
Dividends
  • E
Est. Frequency
Monthly
Last Pay Date
12/31/2018
Per Share ($)
$0.0375
12-Month Distribution ($)
$0.3367
Distribution Sources
  • E
Net Income
90.50%
Net Profit from Sale
0.00%
Other Capital Sources
9.50%
Documents
  1. 1. Loans, as mentioned in the Fund's prospectus, are know as Senior Loans. Certain senior loans have a feature that prevents their interest rates from adjusting below a specific minimum level, possibly resulting in the prices of these senior loans becoming more sensitive to changes in interest rates should short term interest rates rise but remain below that minimum level. This feature is not accounted for in the duration figure quoted above.
  2. 2. Senior loans are typically lower-rated and may be illiquid investments (which may not have a ready market). The Fund may invest without limit in below-investment-grade securities. The Fund may invest a variable amount in debt rated below "B." May invest 25% or more of its assets in securities issued by companies in the financial services sector which may be susceptible to economic and regulatory events, and increased volatility. Foreign investments may be volatile and involve additional expenses and special risks, including currency fluctuations, foreign taxes, regulatory and geopolitical 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. Derivative instruments entail higher volatility and risk of loss compared to traditional stock or bond investments. Leverage (borrowing) involves transaction and interest costs on amounts borrowed, which may reduce performance.
  3. 3. 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.
  4. 4. The index returns are made up of the returns of (i) Credit Suisse Leveraged Loan Index through September 30, 2014, and (ii) J.P. Morgan Leveraged Loan Index from October 1, 2014 to present. The J.P. Morgan Leveraged Loan Index tracks the performance of U.S. dollar denominated senior floating rate bank loans. The Credit Suisse Leveraged Loan Index® is a composite index of U.S. dollar denominated senior loan returns representing an unleveraged investment in senior loans that is broadly based across the spectrum of senior floating rate loans and includes reinvestment of income (to represent real assets).  The indices are unmanaged, include reinvestment of dividends, and cannot be purchased directly by investors. Index performance is shown for illustrative purposes only and does not predict or depict performance of the Fund. Past performance does not guarantee future results.
  5. 5. 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.
  6. 6. If included in the credit rating breakdown table above, all securities except for those labeled “Treasury,” “Agency,” and “Unrated,” have been rated by at least one Nationally Recognized Statistical Rating Organization (“NRSRO”), such as S&P Global Ratings ("S&P"). For securities rated only by an NRSRO other than S&P, OppenheimerFunds converts that rating to the equivalent S&P rating. If two or more NRSROs have assigned a rating to a security, the highest S&P equivalent rating is used. Unrated securities do not necessarily indicate low credit quality, and may or may not be the equivalent of investment-grade. “Investment-grade” securities are securities rated within the NRSRO’s four highest rating categories, which include AAA, AA, A and BBB. Please consult the Fund’s Prospectus and Statement of Additional Information for further information.
  7. 7. The dividend (or distribution) yield is based on the pay date immediately preceding the nearest month-end or quarter-end.  The dividend yield for each share class is calculated by annualizing the dividend distributed by the class on that date and dividing that figure by the class's net asset value on that date.  For the Class A dividend yield with sales charge, the annualized Class A dividend distribution is divided by the Class A maximum offering price on that date.  Each result is compounded semiannually and annualized.  Falling share prices artificially increase yields.
  8. 8. Standardized yield for each share class is based on an SEC standardized formula designed to approximate a Fund's annualized hypothetical current income from securities less expenses for the 30-day period ending and including the most recent month-end or quarter-end and either that date's maximum offering price (Class A shares) or net asset value (for other share classes).  The month-end figure is typically calculated on the fifth business day of the next month. The result is compounded semiannually and annualized.  Falling share prices artificially increase yields.
  9. 9. 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.
  10. A. The Morningstar Rating&trade; 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. <b>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.</b> 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. Ratings do not consider sales charges and are subject to change monthly. <strong>Past performance is no guarantee of future results</strong></p>
  11. B. 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.
  12. C. 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 3.50% maximum sales charge where indicated.  Returns do not consider capital gains or income taxes on an individual's investment.
  13. D. "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.
  14. E. There is no guarantee of the payment of any dividend or other distributions at any level.
  15. F. 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.
  16. G. 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.
  17. 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 R shares are not subject to a sales charge.  Returns do not consider capital gains or income taxes on an individual's investment.
     
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