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Senior Floating Rate Plus Fund

Overview

The Strategy typically invests in senior loans with the flexibility to include high yield bonds and actively employ leverage.

Inception Date
August 23, 2013
Investment Style
Senior Floating Rate
Fund Index
J.P. Morgan Leveraged Loan Index
CUSIP
68385R300
NAV
  • A
(as of 12/15/2017)
$9.37
Total Assets
(as of 11/30/2017)
$70.60 MM
Gross Expense Ratio
(as of 11/30/2017)
1.59%
Net Expense Ratio
(as of 11/30/2017)
1.36%
Performance
Average Annual Total Returns
Cumulative Returns
Calendar Year Returns
Capital Gains Distributions
as of 11/30/2017
  • B
as of 09/30/2017
  • B

Sales charges are not applicable to Y & I Share Classes.
Cumulative
Annualized
1 mo 3 mo ytd as of 2017-09-30
  • C
1 yr 3 yr since inception
Senior Floating Rate Plus Fund (NAV)
0.16% 0.92% 2.60% 5.90% 3.66% 3.86%
J.P. Morgan Leveraged Loan Index
0.42% 1.11% 2.97% 5.21% 4.35% 4.32%
Cumulative
Annualized
1 mo 3 mo ytd as of 2017-11-30
  • C
1 yr 3 yr since inception
Senior Floating Rate Plus Fund (NAV)
-0.13% 0.67% 3.12% 4.61% 3.59% 3.83%
J.P. Morgan Leveraged Loan Index
0.16% 1.25% 3.83% 5.02% 4.31% 4.34%
Gross Expense Ratio: 1.59% | Net Expense Ratio: 1.36%

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.


Year Senior Floating Rate Plus Fund J.P. Morgan Leveraged Loan Index
2014 1.13% 2.40%
2015 -3.18% 0.54%
2016 13.34% 9.78%

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.


Date Senior Floating Rate Plus Fund J.P. Morgan Leveraged Loan Index (Linked Index)
11/30/2014 0.00 0.00
12/31/2014 -1.77 -0.95
1/31/2015 -1.77 -0.53
2/28/2015 -0.02 0.86
3/31/2015 0.22 1.35
4/30/2015 1.19 2.21
5/31/2015 1.20 2.31
6/30/2015 0.42 2.03
7/31/2015 0.79 2.34
8/31/2015 -0.13 1.77
9/30/2015 -1.05 1.25
10/31/2015 -1.06 1.28
11/30/2015 -3.04 0.34
12/31/2015 -4.89 -0.41
1/31/2016 -6.71 -1.04
2/29/2016 -7.49 -1.46
3/31/2016 -4.43 1.27
4/30/2016 -2.12 3.02
5/31/2016 -0.41 3.96
6/30/2016 -0.03 3.88
7/31/2016 1.82 5.33
8/31/2016 2.85 6.12
9/30/2016 4.43 7.01
10/31/2016 5.72 7.68
11/30/2016 6.25 8.09
12/31/2016 7.79 9.33
1/31/2017 8.57 9.79
2/28/2017 9.53 10.44
3/31/2017 9.29 10.50
4/30/2017 9.67 10.89
5/31/2017 9.76 11.29
6/30/2017 9.58 11.35
7/31/2017 10.60 12.19
8/31/2017 10.41 12.11
9/30/2017 10.59 12.58
10/31/2017 11.30 13.33
11/30/2017 11.15 13.51
Date Dividends
12/31/2014 0.049
1/30/2015 0.0494
2/27/2015 0.0416
3/31/2015 0.0428
4/30/2015 0.044
5/29/2015 0.0408
6/30/2015 0.0457
7/31/2015 0.045
8/31/2015 0.0424
9/30/2015 0.0431
10/30/2015 0.0487
11/30/2015 0.0452
12/31/2015 0.0468
1/29/2016 0.042
2/29/2016 0.0379
3/31/2016 0.0409
4/29/2016 0.0416
5/31/2016 0.0449
6/30/2016 0.0446
7/29/2016 0.0471
8/31/2016 0.042
9/30/2016 0.041
10/31/2016 0.0353
11/30/2016 0.0364
12/30/2016 0.0361
1/31/2017 0.0378
2/28/2017 0.034
3/31/2017 0.0393
4/28/2017 0.0334
5/31/2017 0.0372
6/30/2017 0.035
7/31/2017 0.0376
8/31/2017 0.0439
9/29/2017 0.0352
10/31/2017 0.0397
11/30/2017 0.0376

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 Y 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 12/17/2017

Date 2012 2013 2014 2015 2016
Short Term 0.0359
Long Term
Total Amount of Distribution 0.0359
Record Date 12/31/14
Ex Div Date 12/31/14
Pay Date 12/31/14

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

Portfolio

Top Industries

(109.1% of assets as of 11/30/2017)


Portfolio Holdings Breakdown

Country 4
Credit Rating Allocation 5
Asset Allocation 4
Country Senior Floating Rate Plus Fund J.P. Morgan Leveraged Loan Index Overweight / Underweight
United States 98.3% 89.4% 8.9%
United Kingdom 2.1% 1.5% 0.6%
Canada 1.9% 2.9% -1.0%
Luxembourg 1.6% 1.6% 0.1%
Netherlands 1.4% 0.8% 0.6%
Ireland 1.2% 0.6% 0.6%
France 0.6% 0.6% 0.0%
Spain 0.6% 0.3% 0.3%
Puerto Rico 0.5% 0.1% 0.4%
Marshall Islands 0.5% 0.1% 0.4%
Germany 0.4% 0.5% -0.2%
New Zealand 0.3% 0.3% 0.0%
Australia 0.2% 0.2% 0.0%
India 0.2% 0.1% 0.1%
South Korea 0.2% 0.1% 0.1%
Cayman Islands 0.2% 0.1% 0.1%
Norway 0.1% 0.1% 0.0%
Credit Rating Allocation Senior Floating Rate Plus Fund J.P. Morgan Leveraged Loan Index Overweight / Underweight
BB 48.7% 33.3% 15.4%
B 40.9% 39.4% 1.5%
Unrated 7.2% 16.6% -9.4%
BBB 5.4% 8.2% -2.8%
CCC 4.9% 2.5% 2.5%
Other 2.9% 0.0% 2.8%
CC 0.5% 0.0% 0.5%
D 0.1% - -
Asset Allocation Senior Floating Rate Plus Fund J.P. Morgan Leveraged Loan Index Overweight / Underweight
Senior Loans 103.9% 100.0% 3.9%
Corporate Bonds 3.7% - -
Equity 2.9% - -
Analytics
(As of 11/30/2017)

Morningstar 11/30/2017 (based on risk adjusted performance)
Overall Rating
Number of Funds
206
Category
Bank Loan
Performance Statistics
3Y
Alpha
-2.69
Beta
1.53
Information Ratio
-0.41
R-Squared
93.16
Sharpe Ratio
0.76
Standard Deviation
4.22
Sortino Ratio
0.38
Tracking Error
1.79
Dividends
  • D
Est. Frequency
Monthly
Last Pay Date
11/30/2017
Per Share ($)
$0.0376
12-Month Distribution ($)
$0.4470
Portfolio Characteristics
Fund
Fund Index
Yield to Worst
6.93%
4.96%
Average Effective Maturity
4.96 yrs
5.34 yrs
Current Duration
0.40 yrs
0.00 yrs
Average Coupon
5.43%
-
Effective Coupon
5.43%
4.85%
Effective Discount Margin
515.78 bps
479.99 bps
Loan Average Price
$97.51
$98.31
Turnover Ratio
84.00%
-
Yields
Dividend Yield (w/o sales charge)
4.89%
Standardized Yield
5.37%
Distribution Sources
  • D
Net Income
100.00%
Net Profit from Sale
0.00%
Other Capital Sources
0.00%
Documents
  1. 1. Special Risks: 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.
  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. 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.
  5. 5. 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.
  6. 6. 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.
  7. 7. 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.
  8. 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.
  9. B. 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.
  10. 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.
  11. D. There is no guarantee of the payment of any dividend or other distributions at any level.
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