OppenheimerFunds, Inc. Expands Senior Floating Rate Offering With New Fund

NEW YORK, Aug. 26, 2013 /PRNewswire/ -- OppenheimerFunds today announced the extension of its senior loan investing franchise with the launch of the Oppenheimer Senior Floating Rate Plus Fund ("SFR PLUS"), an actively-managed fund that offers investors access to the same experienced team as the firm's original Senior Floating Rate Fund ("SFR").  Like SFR, SFR PLUS will invest primarily in senior loans, however will be different in that it will have the added flexibility to include high yield bonds and employ leverage. SFR will continue to be managed with the same product purity focus as has been the case since its 1999 inception.  

"With ongoing interest rate uncertainty, floating rate loans continue to be an excellent option for investors looking to manage interest rate risk while seeking an income stream," said Krishna Memani, Chief Investment Officer, Fixed Income, at OppenheimerFunds, Inc. "Our flagship Senior Floating Rate Fund has thrived since its inception 14 years ago. We are now taking that same experienced team and giving them added flexibility to take advantage of the current market environment through high yield bonds and increased return potential via leverage. We believe the new SFR PLUS fund will be attractive to investors seeking higher potential income opportunities in their portfolios."

Joseph Welsh, Head of the Corporate High Yield Debt Team, and Margaret Hui, Vice President, will lead the new SFR PLUS. The pair currently co-manages the $13.3 billion Oppenheimer Senior Floating Rate Fund (OOSAX), which they launched in 1999. Welsh and Hui will be supported by the full SFR investment team, ensuring investors have access to the team's fundamental, "bottom-up" investment process and expertise that has made the SFR a top player in the space.

Like the original SFR, the SFR PLUS (OSFAX) will use a security-by-security focus that attempts to identify the most attractively valued opportunities in the senior loan market, commensurate with risk. Risk is further managed through the team's focus on diversifying across industries and individual holdings. Unique to the new SFR PLUS will be enhanced return potential created through the ability to invest in high yield bonds and the use of leverage.

For additional information on the SFR Plus fund, visit: https://www.oppfunds.com/fund/senior-floating-rate-plus-fund?lnksrc=SHQL2

For additional information on the flagship SFR fund, visit: https://www.oppfunds.com/fund/senior-floating-rate-fund?lnksrc=FLGV2

About OppenheimerFunds, Inc.

OppenheimerFunds, Inc. (OFI) is one of the largest and most reputable investment management firms in the country. Since the original Oppenheimer fund was first offered to the public in 1959, OFI has demonstrated it is a high conviction asset manager with a history of providing innovative investment strategies to its investors. OFI and its subsidiaries offer a broad array of products and services to individuals, institutional investors and corporations worldwide. OFI provides advisory services to the Oppenheimer mutual funds, and OFI Global Asset Management provides services to institutional clients. OFI, including its subsidiaries, managed more than $209 billion in assets for over 12 million shareholder accounts, including sub-accounts, as of June 30, 2013.

These views represent the opinions of OppenheimerFunds, Inc. and are not intended as investment advice or to predict or depict performance of any investment. These views are subject to change based on subsequent developments.

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 1.800.525.7048. Read prospectuses and summary prospectuses carefully before investing.

OppenheimerFunds are distributed by OppenheimerFunds Distributor, Inc. Two World Financial Center, 225 Liberty Street, New York, NY, 10281

© 2013 OppenheimerFunds Distributor, Inc.  All Rights Reserved.

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." The Fund 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 and geopolitical risks.  Emerging and developing market investments may be especially volatile.   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 whose values depend on the performance of an underlying security, asset, interest rate, index or currency, entail potentially higher volatility and risk of loss compared to traditional stock or bond investments. The Fund may use leverage (borrowing) which involves transaction and interest costs on amounts the Fund borrows, which may reduce performance.

SOURCE OppenheimerFunds