NEW YORK, June 23, 2015 /PRNewswire/ -- OppenheimerFunds, a leader in global asset management, has announced share splits for five of its funds.
"These are core products in the portfolios of many interest rate-sensitive clients," said Kamal Bhatia, Head of Investment Products and Solutions at OppenheimerFunds. "We are making this change to more closely align the net asset values of these funds with those of their respective peer funds, making it easier for clients and their investors to compare relative fund performance."
The events are non-taxable and shareholders will be notified via a confirmation statement with a message that explains the change. The funds' new NAVs will be effective with the close of business on the following dates:
- Oppenheimer Ultra-Short Duration Fund – 2:1 share split, Aug. 7, 2015;
- Oppenheimer Rochester® Limited Term Municipal Fund and Oppenheimer Rochester® Intermediate Term Municipal Fund – 3:1 share split, Aug. 21, 2015;
- Oppenheimer Limited-Term Government Fund and Oppenheimer Limited-Term Bond Fund – 2:1 share split, Sept. 11, 2015.
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 $240 billion in assets for over 13 million shareholder accounts, including sub-accounts, as of May 31, 2015.
Founded in 1959, OppenheimerFunds is a high conviction asset manager with a history of providing active, innovative investment strategies to its investors. The firm's 14 distinct, collaborative investment management teams specialize in equity, fixed income, alternative and multi-asset strategies. OppenheimerFunds and its subsidiaries offer a broad array of products and services to clients, who range from endowments and sovereigns to financial advisors serving individual investors. OppenheimerFunds provides advisory services to the Oppenheimer mutual funds, and OFI Global Asset Management offers solutions to institutions. For more information, visit oppenheimerfunds.com.
Fixed income investing entails credit risks and interest rate risks. When interest rates rise, bond prices generally fall, and the fund's share price can fall. Below investment grade ("high yield" or "junk") bonds are more at risk of default than other bond investments and are subject to liquidity risk. A portion of a municipal bond fund's distributions may be subject to tax and may increase taxes for investors subject to Alternative Minimum Tax (AMT). May invest substantially in Puerto Rico and other U.S. territories, commonwealths and possessions, and could be exposed to their local political and economic conditions. Inverse floaters can be more volatile than conventional fixed-rate bonds and entail the use of leverage. The Fund may invest in the segment of the municipal bond market that is unrated by a Nationally Recognized Statistical Rating Organization ("NRSRO"). Under certain market conditions, some unrated securities may trade less actively than rated securities.
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.
Before investing in any of the Oppenheimer funds, investors should carefully consider a fund's investment objectives, risks, charges and expenses. Fund prospectuses and summary prospectuses contain this and other information about the funds, and may be obtained by asking your financial advisor, visiting oppenheimerfunds.com, or calling 1.800.CALL OPP (225.5677). Read prospectuses and summary prospectuses carefully before investing.
Oppenheimer funds are distributed by OppenheimerFunds Distributor, Inc., 225 Liberty Street, New York, NY, 10281
© 2015 OppenheimerFunds Distributor, Inc. All rights reserved.
SOURCE OppenheimerFunds
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