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Domestic Debt

The Strategy typically invests in U.S. investment-grade corporate bonds.
Cumulative Total Returns

as of 8/31/16

Since Inception 8/2/10
41%
Performance & Distributions
×

Domestic Debt

Gross Expense Ratio:
      1.02%
    Net Expense Ratio:   1.01%

    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 4.75% maximum sales charge where indicated. Returns do not consider capital gains or income taxes on an individual's investment.

    Cumulative Returns
    • A

    Compare to Indices

    Corporate Bond Fund
    VALUE of $10,000.00

    Income Dividend History
    • B

    No income dividends were paid during this time.
    Calendar Year Returns % (w/o sales charge)
    Data as of 9/26/16
      2011 2012 2013 2014 2015 YTD
    • C
    Corporate Bond Fund 7.15 12.94 0.83 6.66 -1.32 7.93
    Barclays US Credit Index 8.35 9.37 -2.01 7.53 -0.77
    Capital Gains Distributions ($ per share)
    Data as of 9/27/16
      2011 2012 2013 2014 2015
    Short Term 0.0306 0.0864 0.1215
    Long Term 0.0262 0.0319 0.1578
    Total Amount of Distribution 0.0568 0.1183 0.2793
    Record Date 12/29/11 12/28/12 12/30/13
    Ex Div Date 12/29/11 12/28/12 12/30/13
    Pay Date 12/29/11 12/28/12 12/30/13

    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 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 4.75% maximum sales charge where indicated. Returns do not consider capital gains or income taxes on an individual's investment.

    Average Annual Total Returns
    • A

    as of 8/31/16

    as of 6/30/16

    • A
    YTD (as of 9/26/16)
    • C
    7.93%
    1 Year 8.04%
    3 Year 5.34%
    5 Year 5.79%
    Since Inception 5.87%
    YTD (as of 9/26/16)
    • C
    7.93%
    1 Year 2.91%
    3 Year 3.64%
    5 Year 4.77%
    Since Inception 5.02%
    YTD (as of 9/26/16)
    • C
    7.93%
    1 Year 5.40%
    3 Year 4.71%
    5 Year 5.58%
    Since Inception 5.68%
    YTD (as of 9/26/16)
    • C
    7.93%
    1 Year 0.39%
    3 Year 3.03%
    5 Year 4.56%
    Since Inception 4.82%
    Gross Expense Ratio
    1.02%
    Net Expense Ratio
    1.01%
    NAV
    • D
    as of 9/26/16
    $11.00
    Yields

    monthly as of 8/31/16

    Dividend Yield
    with sales charge
    2.40%
    Dividend Yield
    w/o sales charge
    2.52%
    Standardized YLD 2.08%

    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 4.75% maximum sales charge where indicated. Returns do not consider capital gains or income taxes on an individual's investment.

    "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.

    Top 20 Industries

    as of 8/31/16

    Banking
    15.5%
    Electric
    7.0%
    Food And Beverage
    7.0%
    Technology
    6.0%
    Retailers
    5.6%
    Healthcare
    4.9%
    Automotive
    4.7%
    Wirelines
    4.6%
    Pharmaceuticals
    3.7%
    Midstream
    3.4%
    Chemicals
    3.0%
    Life
    2.3%
    Cable Satellite
    1.9%
    Media Entertainment
    1.7%
    Building Materials
    1.6%
    Aerospace/Defense
    1.5%
    Diversified Manufacturing
    1.4%
    Independent
    1.3%
    Wireless
    1.2%
    Brokerage Assetmanagers Excha...
    1.2%
    ×
    • 15.5 %
      Banking
    COUNTRY United States
    CREDIT RATING ALLOCATION A
    ×
    • 7.0 %
      Electric
    COUNTRY United States
    CREDIT RATING ALLOCATION BBB
    ×
    • 7.0 %
      Food And Beverage
    COUNTRY United States
    CREDIT RATING ALLOCATION BBB
    ×
    • 6.0 %
      Technology
    COUNTRY United States
    CREDIT RATING ALLOCATION BBB
    ×
    • 5.6 %
      Retailers
    COUNTRY United States
    CREDIT RATING ALLOCATION BB
    ×
    • 4.9 %
      Healthcare
    COUNTRY United States
    CREDIT RATING ALLOCATION BBB
    ×
    • 4.7 %
      Automotive
    COUNTRY United States
    CREDIT RATING ALLOCATION A
    ×
    • 4.6 %
      Wirelines
    COUNTRY United States
    CREDIT RATING ALLOCATION A
    ×
    • 3.7 %
      Pharmaceuticals
    COUNTRY United States
    CREDIT RATING ALLOCATION BBB
    ×
    • 3.4 %
      Midstream
    COUNTRY United States
    CREDIT RATING ALLOCATION BBB
    ×
    • 3.0 %
      Chemicals
    COUNTRY United States
    CREDIT RATING ALLOCATION BBB
    ×
    • 2.3 %
      Life
    COUNTRY United States
    CREDIT RATING ALLOCATION BBB
    ×
    • 1.9 %
      Cable Satellite
    COUNTRY United States
    CREDIT RATING ALLOCATION BBB
    ×
    • 1.7 %
      Media Entertainment
    COUNTRY United States
    CREDIT RATING ALLOCATION BBB
    ×
    • 1.6 %
      Building Materials
    COUNTRY United States
    CREDIT RATING ALLOCATION BBB
    ×
    • 1.5 %
      Aerospace/Defense
    COUNTRY United States
    CREDIT RATING ALLOCATION BBB
    ×
    • 1.4 %
      Diversified Manufacturing
    COUNTRY United States
    CREDIT RATING ALLOCATION BBB
    ×
    • 1.3 %
      Independent
    COUNTRY United States
    CREDIT RATING ALLOCATION BBB
    ×
    • 1.2 %
      Wireless
    COUNTRY United States
    CREDIT RATING ALLOCATION BBB
    ×
    • 1.2 %
      Brokerage Assetmanagers Exchanges
    COUNTRY United States
    CREDIT RATING ALLOCATION BB
    Holdings Breakdown

    as of 8/31/16

    74.1%

    United States

    3.4%

    United Kingdom

    2.9%

    Canada

    1.8%

    Netherlands

    1.8%

    Germany

    1.7%

    Belgium

    1.6%

    France

    1.3%

    Switzerland

    1.1%

    Australia

    0.7%

    Israel

    0.5%

    Ireland

    0.5%

    Sweden

    0.5%

    Singapore

    0.4%

    Portugal

    0.4%

    Spain

    0.3%

    Norway

    0.3%

    Denmark

    0.2%

    South Korea

    Developed Markets 6
    Emerging Markets 6
    77.0%

    Americas

    No Top Industries
    in
    Americas
    14.1%

    Europe

    No Top Industries
    in
    Europe
    1.6%

    Asia Pacific

    No Top Industries
    in
    Asia Pacific
    0.7%

    Middle East

    No Top Industries
    in
    Middle East
    0.2%

    Asia Pacific

    No Top Industries
    in
    Asia Pacific
    91.9%

    Corporates

    6.4%

    Net Cash and Equivalents

    No Top Industries
    in
    Net Cash and Equivalents
    0.5%

    ABS

    No Top Industries
    in
    ABS
    0.4%

    Non Agencies MBS

    No Top Industries
    in
    Non Agencies MBS
    0.4%

    Agencies MBS

    No Top Industries
    in
    Agencies MBS
    0.3%

    CMBS

    No Top Industries
    in
    CMBS
    0.0%

    No Top Industries
    in
    Treasury
    0.4%

    No Top Industries
    in
    Agency
    0.3%

    No Top Industries
    in
    AAA
    6.6%

    30.3%

    48.8%

    9.6%

    0.0%

    0.2%

    No Top Industries
    in
    CCC
    0.0%

    No Top Industries
    in
    D
    0.2%

    -2.9%

    No Top Industries
    in
    Other
    Morningstar
    • E

    as of 8/31/16

    (based on risk adjusted performance)

    Overall Rating
    Number of Funds 170
    Category Corporate Bond
    Risk Measurements

    as of 8/31/16

    Alpha -0.48%
    Beta 1.00
    R-Squared
    89.17
    Sharpe Ratio
    1.35
    Standard Deviation
    3.8%
    Equity Style
    Total Assets (all classes)
    as of 8/31/16
    $201.5 MM
    Portfolio Statistics

    as of

    Duration (yrs)
    7.06
    Investment Minimums
    Initial
    $1,000
    Dividends ($ per share)
    • B
    Est Frequency Monthly
    Last Pay Date 8/31/16
    Per Share ($) 0.0236
    12-Month Distribution ($) 0.2991
    Distribution Sources
    Net Income 99.90%
    Net Profit from Sale 0.10%
    Other Capital Sources 0.00%
    Top 20 Industries

    as of 8/31/16

    Banking
    15.5%
    Electric
    7.0%
    Food And Bevera...
    7.0%
    Technology
    6.0%
    Retailers
    5.6%
    Healthcare
    4.9%
    Automotive
    4.7%
    Wirelines
    4.6%
    Pharmaceuticals...
    3.7%
    Midstream
    3.4%
    Chemicals
    3.0%
    Life
    2.3%
    Cable Satellite...
    1.9%
    Media Entertain...
    1.7%
    Building Materi...
    1.6%
    Aerospace/Defen...
    1.5%
    Diversified Man...
    1.4%
    Independent
    1.3%
    Wireless
    1.2%
    Brokerage Asset...
    1.2%
    Holdings Breakdown

    as of 8/31/16

    Reset
    74.1%

    United States

    3.4%

    United Kingdom

    2.9%

    Canada

    1.8%

    Netherlands

    1.8%

    Germany

    1.7%

    Belgium

    1.6%

    France

    1.3%

    Switzerland

    1.1%

    Australia

    0.7%

    Israel

    0.5%

    Ireland

    0.5%

    Sweden

    0.5%

    Singapore

    0.4%

    Portugal

    0.4%

    Spain

    0.3%

    Norway

    0.3%

    Denmark

    0.2%

    South Korea

    77.0%

    Americas

    No Top Industries
    in
    Americas
    14.1%

    Europe

    No Top Industries
    in
    Europe
    1.6%

    Asia Pacific

    No Top Industries
    in
    Asia Pacific
    0.7%

    Middle East

    No Top Industries
    in
    Middle East
    0.2%

    Asia Pacific

    No Top Industries
    in
    Asia Pacific
    91.9%

    Corporates

    6.4%

    Net Cash and Equivalents

    No Top Industries
    in
    Net Cash and Equivalents
    0.5%

    ABS

    No Top Industries
    in
    ABS
    0.4%

    Non Agencies MBS

    No Top Industries
    in
    Non Agencies MBS
    0.4%

    Agencies MBS

    No Top Industries
    in
    Agencies MBS
    0.3%

    CMBS

    No Top Industries
    in
    CMBS
    0.0%

    No Top Industries
    in
    Treasury
    0.4%

    No Top Industries
    in
    Agency
    0.3%

    No Top Industries
    in
    AAA
    6.6%

    30.3%

    48.8%

    9.6%

    0.0%

    0.2%

    No Top Industries
    in
    CCC
    0.0%

    No Top Industries
    in
    D
    0.2%

    -2.9%

    No Top Industries
    in
    Other
    ×
    • 15.5 %
      Banking
    COUNTRY United States
    CREDIT RATING ALLOCATION A
    ×
    • 7.0 %
      Electric
    COUNTRY United States
    CREDIT RATING ALLOCATION BBB
    ×
    • 7.0 %
      Food And Beverage
    COUNTRY United States
    CREDIT RATING ALLOCATION BBB
    ×
    • 6.0 %
      Technology
    COUNTRY United States
    CREDIT RATING ALLOCATION BBB
    ×
    • 5.6 %
      Retailers
    COUNTRY United States
    CREDIT RATING ALLOCATION BB
    ×
    • 4.9 %
      Healthcare
    COUNTRY United States
    CREDIT RATING ALLOCATION BBB
    ×
    • 4.7 %
      Automotive
    COUNTRY United States
    CREDIT RATING ALLOCATION A
    ×
    • 4.6 %
      Wirelines
    COUNTRY United States
    CREDIT RATING ALLOCATION A
    ×
    • 3.7 %
      Pharmaceuticals
    COUNTRY United States
    CREDIT RATING ALLOCATION BBB
    ×
    • 3.4 %
      Midstream
    COUNTRY United States
    CREDIT RATING ALLOCATION BBB
    ×
    • 3.0 %
      Chemicals
    COUNTRY United States
    CREDIT RATING ALLOCATION BBB
    ×
    • 2.3 %
      Life
    COUNTRY United States
    CREDIT RATING ALLOCATION BBB
    ×
    • 1.9 %
      Cable Satellite
    COUNTRY United States
    CREDIT RATING ALLOCATION BBB
    ×
    • 1.7 %
      Media Entertainment
    COUNTRY United States
    CREDIT RATING ALLOCATION BBB
    ×
    • 1.6 %
      Building Materials
    COUNTRY United States
    CREDIT RATING ALLOCATION BBB
    ×
    • 1.5 %
      Aerospace/Defense
    COUNTRY United States
    CREDIT RATING ALLOCATION BBB
    ×
    • 1.4 %
      Diversified Manufacturing
    COUNTRY United States
    CREDIT RATING ALLOCATION BBB
    ×
    • 1.3 %
      Independent
    COUNTRY United States
    CREDIT RATING ALLOCATION BBB
    ×
    • 1.2 %
      Wireless
    COUNTRY United States
    CREDIT RATING ALLOCATION BBB
    ×
    • 1.2 %
      Brokerage Assetmanagers Exchanges
    COUNTRY United States
    CREDIT RATING ALLOCATION BB

    Management

    Krishna Memani

    Managed Fund since 8/10

    Investment Approach

    We take a top-down, bottom-up investment approach, where our 6-12 month investment outlook influences portfolio manager risk budgeting across drivers of return. Sector-dedicated research analysts are responsible for security analysis and selection. Risk management is critical throughout our process and includes multi-layered/dimensional risk limits as well as the use of various proprietary tools including stop-outs.

    Risk Management

    Our team limits exposure to individual companies, industries and sectors, seeking to limit volatility through company quality and diversification. Risk Management Overview

    We conduct rigorous fundamental research to identify individual companies with asymmetrical risk/return opportunities. Risk Management Overview

    At the portfolio level, our experienced investment personnel closely monitor the strategy's positioning, and the active risk resulting from our security selection process and sector allocations. We evaluate factor and style exposure, as well as the ownership and liquidity profile of each security in the portfolio. Risk Management Overview

    Our team proactively manages risk by constructing diversified portfolios across sectors, industry groups and securities. We manage, monitor and limit sector weights relative to specified benchmarks and security position sizes within each portfolio. Risk Management Overview

    Our team closely monitors position size and sector weights; we have limits on active security weights against the benchmark for each strategy we manage. Risk Management Overview

    Risk is managed at the portfolio, strategy and security levels to identify diversified sources of alpha. We mainly focus on currency, interest rates and credit. Positions are sized and monitored according to established limits. Risk Management Overview

    We focus primarily on senior loans in an effort to maintain product integrity and limit duration risk. Risk Management Overview

    The team manages risk at both a strategy and individual security level to help ensure that, when combined, they act as the ballast in an investor’s overall portfolio. Risk Management Overview

    Risk is managed at the portfolio, strategy and security levels to identify diversified sources of alpha. We seek to identify primary and secondary risks of each investment. Diversification of sectors can potentially reduce volatility. Risk Management Overview

    The team manages risk by administering duration limits, limiting portfolio weighted average maturity and conducting thorough credit analysis on individual securities. Risk Management Overview

    The Rochester team has created diverse portfolios designed to mitigate the types of risks that municipal bond investors may encounter. Risk Management Overview

    The Commodities team manages risk on multiple levels, including individual commodity sector levels and overall fund level. Risk Management Overview

    The Real Estate team monitors and manages risk at the security, sector and strategy levels. Risk Management Overview

    The Global Multi-Asset Group monitors and manages risk on an ongoing basis, both at the asset class and portfolio levels. Risk Management Overview

    We emphasize capital preservation by avoiding companies that may cut distributions. We seek to build diversified portfolios comprised of energy and energy related companies with attractive risk-adjusted total return potential. Risk Management Overview

    The Alternative Strategies team evaluates risk on multiple levels, applying numerous risk analysis methods on an ongoing basis in addition to assessing risk impacts of a position prior to making investment decisions. Risk Management Overview

    Risk is monitored by quantitative risk system and managed at many levels – stock, sector, country, and style factors. We seek to diversify the portfolio across the global listed infrastructure market and adhere to an established risk framework, including constraints imposed by position limits versus a benchmark. Risk Management Overview

    We monitor and manage both security and sector weights to the underlying index to ensure that the portfolio is properly tracking its benchmark. Also, partnering with well-known index providers ensures that we hold only high quality securities that pass very stringent profitability and liquidity screens. Risk Management Overview

    ×

    Tools

    1. 1. Special Risks: Fixed income investing entails credit and interest rate risks. Interest rate risk is the risk that rising interest rates or an expectation of rising interest rates in the near future, will cause the values of the Fund's investments to decline. Risks associated with rising interest rates are heightened given that rates in the U.S. are at or near historic lows. 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. Mortgage-backed securities are subject to prepayment risk. 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. Derivative instruments entail higher volatility and risk of loss compared to traditional stock or bond investments.
    2. 2. 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.
    3. 3. Access index definitions.
    4. 4. 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.
    5. 5. Standardized yield for each share class is based on the Fund's net investment income 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.
    6. 6. 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.
    7. 7. If included in the credit rating breakdown table above, all securities except for those labeled "Treasury", "Agency" and "Unrated", and except for certain securities issued or guaranteed by a foreign sovereign, have been rated by at least one Nationally Recognized Statistical Rating Organization ("NRSRO"), such as S&P Global Ratings ("S&P"). The credit rating table values may not total 100% due to rounding. For securities rated only by an NRSRO other than S&P, OppenheimerFunds, Inc. 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 issued or guaranteed by a foreign sovereign are assigned a credit rating equal to the highest NRSRO rating assigned to that foreign sovereign. Fund assets invested in Oppenheimer Institutional Money Market Fund are assigned the Fund's S&P rating, which is currently AAA. Unrated securities do not necessarily indicate low credit quality. "Investment-grade" securities are securities rated within the NRSROs four highest rating categories (AAA, AA, A and BBB.) Securities not rated by an NRSRO may or may not be equivalent of investment grade. Please consult the Fund's Prospectus for further information. Additional information can be found in the Fund's Statement of Additional Information.
    8. A. 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 4.75% maximum sales charge where indicated. Returns do not consider capital gains or income taxes on an individual's investment.
    9. B. There is no guarantee of the payment of any dividend or other distributions at any level.
    10. C. "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.
    11. D. 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.
    12. E. Class A shares rated 3 stars overall by Morningstar among  170  Corporate Bond funds for the 3-, 5-, and 10 year period ended 8/31/16 based on risk-adjusted performance.
    ×
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