OppenheimerFunds Receives 16 Best-in-Class 2013 Lipper Fund Awards

NEW YORK, March 15, 2013 /PRNewswire/ -- OppenheimerFunds, a leading investment management company, today announced that 16 of the firm's funds received a 2013 Lipper Award, recognizing each fund as Best-in-Class in its respective Lipper category.¹ The Company has won awards across various asset classes, demonstrating the success of its boutique investment expertise and talent. For the second year in a row, OppenheimerFunds' Global Funds and Rochester Municipal Bond Funds were highly represented.

"This year's wins are a major accomplishment for our fund managers and the entire OppenheimerFunds investment team," said Art Steinmetz, Chief Investment Officer of OppenheimerFunds.  "The Lipper recognitions demonstrate that our high conviction investment approach has brought real value to our investors."

Lipper recognized the following OppenheimerFunds products as Best-in-Class in their respective categories, based on consistent return:

Domestic Debt

• Oppenheimer Limited-Term Government Fund (OLTYX) Y shares was named Best-in-Class among 65 Short U.S. Government Funds for the three-year period ended 11/30/12

Global Equity

• Oppenheimer Developing Markets Fund (ODMAX) A shares was named Best-in-Class among 134 Emerging Markets Funds for the ten-year period ended 11/30/12
• Oppenheimer Global Value Fund (GLVYX) Y shares was named Best-in-Class among 75 Global Small-/Mid-Cap Funds for the five-year period ended 11/30/12

Multi Asset

• Oppenheimer Equity Investor Fund (OYAIX) Y shares was named Best-in-Class among 109 Global Multi-Cap Core Funds for the five-year period ended 11/30/12

Municipal Bond

• Oppenheimer AMT-Free Municipals (OPTAX) A shares was named Best-in-Class among 217 General & Insured Municipal Debt funds for the three-year period ended 11/30/12
• Oppenheimer AMT-Free New York Municipals (OPNYX)[1] A shares was named Best-in-Class among 87 New York Municipal Debt Funds for the three-year period ended 11/30/12
• Oppenheimer Limited Term Municipal Fund (OPITX)[2] A shares was named Best-in Class among 34 Short-Intermediate Municipal Debt Funds for the three-year period ended 11/30/12
• Oppenheimer New Jersey Municipal Fund (ONJAX) A shares was named Best-in-Class among 48 New Jersey Municipal Debt Funds for the three-year period ended 11/30/12
• Oppenheimer Pennsylvania Municipal Fund (OPATX) A shares was named Best-in-Class among 59 Pennsylvania Municipal Debt Funds for the three-year period ended 11/30/12
• Oppenheimer Rochester Arizona Municipal Fund (ORAZX) A shares was named Best-in-Class among 29 Arizona Municipal Debt Funds for the three-year period ended 11/30/12
• Oppenheimer Rochester Maryland Municipal Fund (ORMDX) A shares was named Best-in-Class among 31 Maryland Municipal Debt Funds for the three-year period ended 11/30/12
• Oppenheimer Rochester Massachusetts Municipal Fund (ORMAX) A shares was named Best-in-Class among 44 Massachusetts Municipal Debt Funds for the three-year period ended 11/30/12
• Oppenheimer Rochester Minnesota Municipal Fund (OPAMX) A shares was named Best-in-Class among 39 Minnesota Municipal Debt Funds for the three-year period ended 11/30/12
• Oppenheimer Rochester North Carolina Municipal Fund (OPNCX) A shares was named Best-in-Class among 26 North Carolina Municipal Debt Funds for the three-year period ended 11/30/12
• Oppenheimer Rochester Ohio Municipal Fund (OROHX) A shares was named Best-in-Class among 34 Ohio Municipal Debt Funds for the three-year period ended 11/30/12
• Oppenheimer Rochester Virginia Municipal Fund (ORVAX) A shares was named Best-in-Class among 31 Virginia Municipal Debt Funds for the three-year period ended 11/30/12

To learn more about these or any other funds in the OppenheimerFunds fund family, visit oppenheimerfunds.com and globalizeyourthinking.com.

About OppenheimerFunds

OppenheimerFunds is one of the nation's largest and most respected investment management companies. As of December 31, 2012, OppenheimerFunds, including subsidiaries, managed more than $195 billion in assets, including mutual funds having more than 12 million shareholder accounts, including sub-accounts. Known for its tagline The Right Way to Invest, OppenheimerFunds has been helping investors reach their financial goals since 1960. The company and its divisions and subsidiaries offer a broad range of products and services to individuals, corporations and institutions, including mutual funds, separately managed accounts, qualified retirement plans and sub-advisory investment management services.

¹   Lipper Awards are granted annually to the funds in each Lipper classification that achieve the highest score for Consistent Return, a measure of funds' historical risk-adjusted returns, measured in local currency, relative to peers.  Winners are selected using the Lipper Leader rating for Consistent Return for funds with at least 36 months of performance history as of 11/30/12.  Awards are presented for the highest Lipper Leader for Consistent Return within each eligible classification over 3, 5 or 10 years. Other share classes may have different performance and expense characteristics. Class Y shares are not available for purchase by all investors. Consult with your advisor to determine if you are eligible to purchase class Y shares. Although Lipper makes reasonable efforts to ensure the accuracy and reliability of the data contained herein, the accuracy is not guaranteed by Lipper. Lipper awards are not intended to predict future results. Past performance does not guarantee future results.

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. Foreign investments may be volatile and involve additional expenses and special risks, including currency fluctuations, foreign taxes and political and economic uncertainties. Emerging and developing market investments may be especially volatile. Derivative instruments, securities whose values depend on the performance of an underlying security or asset, entail potentially higher volatility and risk of loss compared to traditional stock or bond investments. Value investing involves the risk that undervalued securities may not appreciate as anticipated. 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). Capital gains distributions are taxable as capital gains. 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.

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.

[1] On 1/28/13 the Fund changed its name to Oppenheimer Rochester AMT-Free New York Municipals

[2] On 1/28/13 the Fund changed its name to Oppenheimer Rochester Limited Term Municipal Fund

SOURCE OppenheimerFunds