OppenheimerFunds Portfolio Manager Frank Jennings: 15 Years of Success
Global Opportunities Fund Manager Generated 400+% Return Over Tenure
NEW YORK, Oct. 4 /PRNewswire/ -- OppenheimerFunds, Inc. announced that today marks Frank Jennings' 15th anniversary as portfolio manager for the Oppenheimer Global Opportunities Fund, a $2.5 billion fund (as of 9/30/10) that invests in a diverse set of opportunities across geographies, market capitalizations and asset classes. Less than four percent of all fund managers have a tenure of 15 years or greater, according to Lipper.(1)
Since joining OppenheimerFunds in 1995, Jennings has produced a 458.30% cumulative return and 12.1% annualized return at the helm of the Global Opportunities Fund (without sales charges).(2) By comparison, during the same period, the MSCI World Index, the fund's benchmark, produced a cumulative return of 114.4% and annualized return of 5.2%. (10/2/95 through 9/24/10.)(3) Past performance does not guarantee future results.
"Frank has had a truly impressive track record managing the Global Opportunities Fund over the last 15 years," George Evans, Head of OppenheimerFunds Global Equities, said. "His outperformance relative to the fund's benchmark index reflects a powerful combination of intelligence and originality that has created outstanding value to both the shareholders of the fund and the team as a whole."
"Global is more than an asset class, it's a perspective," said Jennings. "Growth and opportunity can be found in all corners of the world and over the past 15 years I have endeavored to identify companies across geographies that I believe have a high potential for producing strong returns for investors."
The Global Opportunities Fund is known for investing in big ideas and game changing technology. The Fund has the freedom to invest in companies of any size, anywhere in the world. During Jennings' tenure, some of his biggest successes have been well-timed investments in Porsche and QUALCOMM, which yielded large gains for the fund.(4)
About OppenheimerFunds, Inc.
OppenheimerFunds, Inc. is one of the nation's largest and most respected investment management companies. As of June 30, 2010, OppenheimerFunds, Inc., including subsidiaries, managed more than $155 billion in assets, including mutual funds having approximately 6 million shareholder accounts.
(1) As of 8/31/2010, 550 managers out of 15,084 portfolios, (or 3.65% of managers), in the entire Lipper Universe of managers have a manager tenure of 15 years or greater.
(2) The Fund's average annual total returns, including the 5.75% maximum applicable sales charge, for the 1-5- and 10 year periods ended 6/30/10, are 18.03%, 4.73% and 2.72%, respectively. The Fund's expense ratio, as of fiscal year ended 9/30/09, is 1.35%.
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 ratio may be lower or higher than the data quoted. For performance data current to the most recent month-end, visit us at oppenheimerfunds.com or call us at 1.800 CALL OPP (225.5677). Fund returns include changes in share price, reinvested distributions, and a 5.75% maximum applicable sales charge except where "without sales charge" is indicated. Fund returns do not consider capital gains or income taxes.
(3) The MSCI World Index is a broad-based, widely used measure of world stock market performance that measures the stocks of 20 countries including the United States, Europe, Canada, Australia, New Zealand and the Far East. Indices are unmanaged and cannot be purchased directly by investors. Index performance is shown for illustrative purposes only and does not predict or depict the performance of the Fund. Past performance does not guarantee future results.
(4) The mention of specific companies does not constitute a recommendation on behalf of OppenheimerFunds, Inc. As of 8/31/10, 0% of the Fund's assets were inverted in Porsche and QUALCOMM.
Special Risks: Oppenheimer Global Opportunities Fund may invest in foreign securities, which entail special risks (such as currency fluctuations and political uncertainties) and may have higher expenses and volatility. Emerging and developing market investments may be especially volatile. Investments in securities of growth companies may be especially volatile. The Fund may invest up to 25% in below-investment grade ("junk") bonds, which are more at risk of default and are subject to liquidity risk. Diversification does not guarantee profit or protect against loss.
Shares of mutual funds are not deposits or obligations of any bank, are not guaranteed by any bank, are not insured by the FDIC or any other agency, and involve investment risks, including the possible loss of the principal amount invested.
OppenheimerFunds is widely recognized as a leader in educating and empowering investors and for its award-winning customer service.
Before investing in any of the Oppenheimer funds, investors should carefully consider a fund's investment objectives, risks, charges and expenses. Fund prospectuses and if available, summary prospectuses contain this and other information about the funds, and may be obtained by asking your financial advisor, visiting our website at www.oppenheimerfunds.com, or calling us at 1.800.525.7048. Read prospectuses and if available, summary prospectuses, carefully before investing.
OppenheimerFunds are distributed by OppenheimerFunds Distributor, Inc. Two World Financial Center, 225 Liberty Street, New York, NY, 10281
© 2010 OppenheimerFunds Distributor, Inc.
SOURCE OppenheimerFunds, Inc.
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