New Oppenheimer SteelPath Panoramic Fund Invests in Beneficiaries of Energy Renaissance

Nov 18, 2015, 09:00 ET from OppenheimerFunds

NEW YORK, Nov. 18, 2015 /PRNewswire/ -- OppenheimerFunds, a leading global asset manager, today announced the introduction of the Oppenheimer SteelPath Panoramic Fund, which focuses on opportunities created by the rapid changes in the North American energy landscape.

"We are investing in companies that are best positioned to gain long-term advantage from these shifts and deliver relative performance across different commodity price scenarios," said Brian Watson, CFA, Senior Portfolio Manager and Director of Research at Oppenheimer SteelPath. "Our long-term investment view allows us to benefit from expected dislocations in the evolving global energy market." 

Oppenheimer SteelPath's investment process and understanding of the energy landscape, honed over more than a decade of managing investments in the midstream energy sector, are employed in the Panoramic Fund to provide investors with a more balanced portfolio of investments across the energy renaissance beneficiaries.

"The North American energy landscape has transformed, creating a generational shift in relative competitive advantage as well as new opportunities across the entire energy value chain," said Krishna Memani, Chief Investment Officer at OppenheimerFunds. "Brian and his team are using their extensive knowledge of the energy sector to identify durable investment opportunities for our clients."

The Fund seeks to identify value by eschewing mega-cap exposure – such as international oil companies – and instead focusing on small- and mid-cap companies with visible drivers and long-term advantages that will allow them to benefit the most from the U.S. energy revolution. Though Watson and the team believe the portfolio is likely to demonstrate greater volatility than Oppenheimer SteelPath's current midstream-focused portfolios, they expect to find opportunities for greater returns.

Oppenheimer SteelPath has been a leader in energy investments since 2004, and Watson has two decades of energy-focused investment experience. The group employs seven analysts dedicated to understanding the energy value chain and broader energy sector.

About OppenheimerFunds

OppenheimerFunds, a leader in global asset management, is dedicated to providing solutions for its partners and end investors. OppenheimerFunds, including its subsidiaries, manages more than $224 billion in assets for over 13 million shareholder accounts, including sub-accounts, as of October 31, 2015.

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About Oppenheimer SteelPath

The team uses a fundamental approach to investing with an emphasis on business risk assessment and bottom-up analysis. On a macro level, their commodity price scenario analysis across medium and long-term horizons provides a framework for sub-sector allocation and investment selection. They then perform asset-level analysis to find companies with exceptional risk/reward potential across a range of commodity price scenarios. Further, they focus on capital preservation through intentional portfolio construction, remaining cognizant of cross-sector exposures while attempting to mitigate unintentional commodity or factor positions when appropriate.

Small-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 small-sized company, if any gain is realized at all. Investments in securities of growth companies may be volatile. Investing in MLPs involves additional risks as compared to the risks of investing in common stock, including risks related to cash flow, dilution and voting rights. The Fund may invest no more than 25% of total assets in MLPs. Energy infrastructure companies are subject to risks specific to the industry such as fluctuations in commodity prices, reduced volumes of natural gas or other energy commodities, environmental hazards, changes in the macroeconomic or the regulatory environment or extreme weather. MLPs may trade less frequently than larger companies due to their smaller capitalizations which may result in erratic price movement or difficulty in buying or selling. Below-investment-grade ("high yield" or "junk") bonds are more at risk of default and are subject to liquidity 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. The Fund is classified as a "non-diversified" fund and may invest a greater portion of its assets in the securities of a single issuer.

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