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CHALLENGE THE STATUS QUO.
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Alternative

Fundamental Alternatives Fund

Alternative multi-strategy investing long and short across multiple asset types, seeking to deliver high risk adjusted returns with low volatility.

Investment Style
Multi Alternative
Fund Inception
February 28, 2013
Total Assets (all classes) (as of 9/30/2017)
$1.28 billion
Fund Index
HFRX Global Hedge Fund Index
NAV (as of 10/19/17)
  • A
$28.04
performance
analytics
holdings
as of 9/30/2017
  • F
as of 9/30/2017
  • F

Sales charges are not applicable to Y & I Share Classes.
Cumulative
Annualized
1 mo 3 mo ytd as of 10/19/17
  • C
1 yr 3 yr since inception
Fundamental Alternatives Fund (NAV)
0.28% 0.18% 1.70% 3.02% 2.07% 4.16%
Cumulative
Annualized
1 mo 3 mo ytd as of 10/19/17
  • C
1 yr 3 yr since inception
Fundamental Alternatives Fund (NAV)
0.28% 0.18% 1.70% 3.02% 2.07% 4.16%
Gross Expense Ratio: 1.67% | Net Expense Ratio: 1.63%

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.


Year Fundamental Alternatives Fund HFRX Global Hedge Fund Index
2013 0.00% 6.72%
2014 4.98% -0.58%
2015 2.41% -3.64%
2016 1.68% 2.50%

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.


Date Fundamental Alternatives Fund HFRX Global Hedge Fund Index BBG Barclays Agg S&P 500
9/30/2007 0.00 0.00 0.00 0.00
10/31/2007 3.54 2.82 0.90 1.59
11/30/2007 2.42 0.33 2.71 -2.66
12/31/2007 1.95 0.20 3.00 -3.33
1/31/2008 -0.23 -1.87 4.73 -9.13
2/29/2008 2.72 -0.13 4.88 -12.08
3/31/2008 1.59 -2.59 5.23 -12.46
4/30/2008 2.83 -1.43 5.01 -8.20
5/31/2008 4.61 -0.01 4.24 -7.01
6/30/2008 1.41 -0.84 4.16 -14.85
7/31/2008 -0.59 -3.64 4.08 -15.56
8/31/2008 1.01 -4.87 5.06 -14.34
9/30/2008 -5.98 -11.43 3.65 -21.98
10/31/2008 -15.74 -19.71 1.21 -35.08
11/30/2008 -18.72 -22.15 4.50 -39.74
12/31/2008 -18.73 -23.10 8.40 -39.10
1/31/2009 -17.82 -22.26 7.44 -44.23
2/28/2009 -20.73 -22.55 7.04 -50.17
3/31/2009 -17.10 -22.58 8.52 -45.80
4/30/2009 -13.46 -21.33 9.04 -40.62
5/31/2009 -11.42 -18.85 9.83 -37.29
6/30/2009 -10.66 -18.82 10.46 -37.17
7/31/2009 -8.77 -17.53 12.24 -32.42
8/31/2009 -7.44 -16.50 13.40 -29.98
9/30/2009 -5.89 -14.65 14.59 -27.37
10/31/2009 -7.36 -14.70 15.16 -28.71
11/30/2009 -5.89 -13.28 16.65 -24.44
12/31/2009 -5.55 -12.80 14.83 -22.98
1/31/2010 -7.25 -12.82 16.58 -25.75
2/28/2010 -5.21 -12.59 17.02 -23.45
3/31/2010 -2.63 -11.38 16.87 -18.83
4/30/2010 -2.44 -10.67 18.09 -17.55
5/31/2010 -5.81 -13.03 19.08 -24.13
6/30/2010 -9.79 -13.85 20.95 -28.10
7/31/2010 -5.58 -12.79 22.24 -23.07
8/31/2010 -8.27 -12.64 23.81 -26.54
9/30/2010 -4.22 -11.14 23.95 -19.98
10/31/2010 -1.49 -10.14 24.39 -16.94
11/30/2010 -2.10 -10.39 23.67 -16.93
12/31/2010 1.89 -8.27 22.34 -11.38
1/31/2011 2.89 -7.76 22.48 -9.28
2/28/2011 6.06 -7.09 22.79 -6.17
3/31/2011 5.13 -7.90 22.86 -6.13
4/30/2011 7.41 -7.47 24.42 -3.35
5/31/2011 7.30 -8.76 26.04 -4.45
6/30/2011 5.29 -10.21 25.67 -6.04
7/31/2011 3.32 -10.31 27.66 -7.95
8/31/2011 -0.97 -13.42 29.53 -12.95
9/30/2011 -3.51 -16.00 30.47 -19.07
10/31/2011 -1.35 -15.32 30.61 -10.22
11/30/2011 -3.71 -16.05 30.50 -10.42
12/31/2011 -4.57 -16.41 31.93 -9.51
1/31/2012 -4.07 -14.97 33.09 -5.45
2/29/2012 -3.18 -13.76 33.06 -1.36
3/31/2012 -2.25 -13.78 32.33 1.88
4/30/2012 -2.67 -13.68 33.80 1.24
5/31/2012 -3.60 -15.13 35.01 -4.84
6/30/2012 -2.80 -15.38 35.06 -0.92
7/31/2012 -2.17 -14.93 36.92 0.46
8/31/2012 -1.74 -14.49 37.01 2.72
9/30/2012 -0.69 -14.16 37.20 5.37
10/31/2012 -1.32 -14.56 37.47 3.43
11/30/2012 -1.02 -14.21 37.69 4.03
12/31/2012 -0.86 -13.43 37.49 4.98
1/31/2013 0.24 -11.73 36.53 10.41
2/28/2013 0.62 -11.35 37.22 11.91
3/31/2013 1.38 -10.71 37.33 16.11
4/30/2013 1.89 -10.16 38.72 18.35
5/31/2013 2.86 -9.49 36.24 21.11
6/30/2013 2.74 -10.69 34.13 19.49
7/31/2013 3.41 -9.79 34.32 25.57
8/31/2013 2.78 -10.57 33.63 21.93
9/30/2013 2.86 -9.71 34.89 25.76
10/31/2013 3.46 -8.63 35.99 31.54
11/30/2013 5.53 -8.12 35.48 35.54
12/31/2013 8.06 -7.61 34.71 38.98
1/31/2014 8.53 -7.83 36.70 34.17
2/28/2014 10.39 -6.37 37.43 40.31
3/31/2014 10.47 -6.58 37.19 41.49
4/30/2014 10.43 -7.26 38.35 42.53
5/31/2014 11.70 -6.84 39.93 45.88
6/30/2014 12.46 -5.97 40.00 48.89
7/31/2014 11.82 -6.81 39.65 46.84
8/31/2014 13.64 -5.79 41.19 52.71
9/30/2014 13.30 -6.51 40.23 50.57
10/31/2014 12.58 -7.75 41.61 54.25
11/30/2014 13.22 -7.45 42.61 58.40
12/31/2014 12.98 -8.14 42.75 58.00
1/31/2015 13.88 -8.41 45.74 53.26
2/28/2015 15.17 -6.56 44.37 62.06
3/31/2015 15.52 -6.25 45.04 59.50
4/30/2015 14.35 -6.05 44.52 61.03
5/31/2015 15.82 -5.80 44.17 63.10
6/30/2015 15.39 -6.97 42.60 59.95
7/31/2015 16.72 -7.00 43.59 63.30
8/31/2015 15.04 -9.06 43.39 53.44
9/30/2015 14.87 -10.94 44.36 49.65
10/31/2015 16.16 -9.64 44.38 62.27
11/30/2015 15.60 -10.29 44.00 62.75
12/31/2015 15.18 -11.49 43.53 60.19
1/31/2016 14.79 -13.93 45.51 52.24
2/29/2016 14.05 -14.21 46.54 52.03
3/31/2016 14.18 -13.14 47.88 62.35
4/30/2016 13.49 -12.79 48.45 62.97
5/31/2016 16.43 -12.39 48.49 65.90
6/30/2016 16.60 -12.22 51.16 66.33
7/31/2016 16.04 -10.94 52.11 72.46
8/31/2016 15.39 -10.80 51.94 72.71
9/30/2016 15.95 -10.31 51.85 72.74
10/31/2016 15.95 -10.82 50.69 69.59
11/30/2016 15.95 -10.04 47.12 75.87
12/31/2016 16.64 -9.27 47.33 79.34
1/31/2017 15.86 -8.81 47.62 82.75
2/28/2017 18.03 -7.79 48.61 90.00
3/31/2017 17.03 -7.76 48.54 90.22
4/30/2017 17.86 -7.37 49.68 92.18
5/31/2017 18.94 -7.15 50.83 94.88
6/30/2017 18.86 -6.95 50.68 96.10
7/31/2017 18.16 -6.09 51.33 100.13
8/31/2017 18.64 -5.81 52.69 100.74
9/30/2017 18.94 -5.25 51.96 104.88

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.

$ per share as of 10/20/2017

Date 2012 2013 2014 2015 2016
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.

Analytics

(As of 9/30/2017)

Morningstar 9/30/2017 (based on risk adjusted performance)
Overall Rating
Number of Funds
253
Category
Multialternative
Performance Statistics
3Y
Alpha
1.69
Beta
0.36
Information Ratio
0.46
R-Squared
19.43
Sharpe Ratio
0.60
Standard Deviation
2.93
Sortino Ratio
0.34
Tracking Error
3.52
Dividends
  • D
Est. Frequency
Annual
Last Pay Date
12/28/2016
Per Share ($)
$0.07
Net Income
39.40%
Net Profit from Sale
0.00%
Other Capital Sources
60.60%
12-Month Distribution ($)
$0.20
Portfolio Characteristics
Fund
Fund Index
Trailing P/E
23.49
-
P/E Ratio (NTM)
16.32
-
Price/Book
3.22
-
Return on Equity
16.74%
-
Debt to Capital Ratio
43.10
-
Turnover Ratio
131.00%
-

Top Holdings by Strategy

(48.2% of assets as of 09/30/17)


Long and Short Equity
Standard and Poor's 500 Index (The) Call, 1/19/18, $2575
6.7%
Alphabet, Inc.
2.4%
Chubb Ltd.
2.3%
M&T Bank Corp.
1.9%
Apple, Inc.
1.8%
Long and Short Credit
Barclays Bank plc, IG28 Index, Credit Default Swap
4.1%
Lukoil Intl Finance BV
2.2%
Citigroup, Inc.,VAR% Unsec. Sub. Nts., Perpetual
1.4%
M&T Bank Corp.
0.6%
Long and Short Macro
Euro-Bund Future, 2017-12-
4.8%
SPDR Gold Shares
3.1%

Portfolio Holdings Breakdown

Holding 6
Country 6
Developed Markets 6
Emerging Markets 6
Equity Sector 6 7
Fixed Income Sector
Credit Rating Allocation 8
Asset Allocation 6
Market Cap 9
Holding Fundamental Alternatives Fund HFRX Global Hedge Fund Index Overweight / Underweight
Citi PB Collateral Cash 20.4% - -
JP Morgan PB Collateral Cash 7.3% - -
Standard and Poor's 500 Index (The) Call, 1/19/18, $2575 6.7% - -
Euro-Bund Future, 2017-12- 4.8% - -
Barclays Bank plc, IG28 Index, Credit Default Swap 4.1% - -
SPDR Gold Shares 3.1% - -
Alphabet, Inc. 2.4% - -
Chubb Ltd. 2.3% - -
Lukoil Intl Finance BV 2.2% - -
M&T Bank Corp. 1.9% - -
Apple, Inc. 1.8% - -
UnitedHealth Group, Inc. 1.8% - -
Oppenheimer Institutional Government Money Market Fund Cl. E 1.8% - -
Xilinx, Inc. 1.7% - -
Lockheed Martin Corp. 1.7% - -
Altria Group, Inc. 1.5% - -
Allstate Corp. (The) 1.4% - -
Citigroup, Inc.,VAR% Unsec. Sub. Nts., Perpetual 1.4% - -
Philip Morris International, Inc. 1.3% - -
Honeywell Intl, Inc. 1.3% - -
Country Fundamental Alternatives Fund HFRX Global Hedge Fund Index Overweight / Underweight
United States 97.1% - -
Germany 3.7% - -
Russia 2.2% - -
Canada 2.0% - -
Switzerland 0.9% - -
United Kingdom 0.9% - -
Sweden 0.3% - -
Luxembourg 0.2% - -
Netherlands -0.1% - -
Norway -0.3% - -
Denmark -0.5% - -
Developed Markets Fundamental Alternatives Fund HFRX Global Hedge Fund Index Overweight / Underweight
Americas 99.2% - -
Europe -3.5% - -
Asia Pacific -3.8% - -
Emerging Markets Fundamental Alternatives Fund HFRX Global Hedge Fund Index Overweight / Underweight
Europe 2.2% - -
Americas -0.7% - -
Asia Pacific -5.8% - -
Equity Sector Fundamental Alternatives Fund HFRX Global Hedge Fund Index Overweight / Underweight
Health Care 7.1% - -
Broad Market 6.7% - -
Financials 6.4% - -
Industrials 6.0% - -
Energy 3.6% - -
Telecommunication Services 2.7% - -
Information Technology 2.6% - -
Utilities 2.3% - -
Materials 1.5% - -
Consumer Discretionary 0.5% - -
Consumer Staples -0.4% - -
Real Estate -5.4% - -
Fixed Income Sector Fundamental Alternatives Fund HFRX Global Hedge Fund Index Overweight / Underweight
Corporates 18.5% - -
Non Agencies MBS 4.7% - -
ABS 4.2% - -
Treasuries -1.4% - -
Sovereign -3.0% - -
Credit Rating Allocation Fundamental Alternatives Fund HFRX Global Hedge Fund Index Overweight / Underweight
Unrated 29.7% - -
Other 19.8% - -
BBB 13.6% - -
BB 9.2% - -
A 5.2% - -
B 5.1% - -
AA 2.4% - -
AAA 1.9% - -
CCC 0.7% - -
Asset Allocation Fundamental Alternatives Fund HFRX Global Hedge Fund Index Overweight / Underweight
Equity 33.6% - -
Fixed Income 22.9% - -
Commodity 3.1% - -
Other -8.2% - -
Market Cap Fundamental Alternatives Fund HFRX Global Hedge Fund Index Overweight / Underweight
Large 34.1% - -
Mid 1.2% - -
Small -3.8% - -
  1. 1. Effective 12/2/13, The Fund will limit the market value of its total short positions to not more than 40% of its net assets at the time a short sale is entered into.
  2. 2. Special 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. Foreign investments may be volatile and involve additional expenses and special risks, including currency fluctuations, foreign taxes, regulatory and geopolitical risks. Value investing involves the risk that undervalued securities may not appreciate as anticipated. Short selling may increase volatility and risk of loss and is considered a speculative investment practice. Derivative instruments entail higher volatility and risk of loss compared to traditional stock or bond investments. 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 mid-sized company, if any gain is realized at all. 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. 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. 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. 5. Access index definitions.
  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. The Equity allocation in the Sector Allocation table is net of short positions.
  8. 8. 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 NRSROs 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.
  9. 9. Holdings are subject to change, are dollar-weighted based on assets, and may not reflect the use of leverage in the Fund. Market Cap breakdown is calculated using Morningstar's methodology and those capitalization standards may not align with those in the Fund’s prospectus.
  10. 10. For Share Classes with less than a one-year track record, expense ratios are estimated based on the Manager's projections of those expenses for the coming fiscal year.
  11. 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.
  12. 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.
  13. 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.
  14. D. There is no guarantee of the payment of any dividend or other distributions at any level.
  15. E. 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.
  16. 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.
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