NEW YORK, March 24, 2011 /PRNewswire/ -- OppenheimerFunds, Inc. (OFI), a leading asset management company, today announced that two Oppenheimer funds received 2011 Lipper awards as the Best-in-Class in their respective Lipper categories.(1) Based on Consistent Return, Oppenheimer Equity Income Fund A shares was named Best-in-Class among 231 Equity Income funds for the three-year period ended 12/31/10 and Best-in-Class among 106 Equity Income funds for the ten-year period ended 12/31/10; Oppenheimer Gold & Special Minerals Fund A shares was named Best-in-Class among 50 Precious Metals funds for the five-year period ended 12/31/10.
"The winning funds are being recognized for their outperformance among peers," said Art Steinmetz, Chief Investment Officer of OppenheimerFunds, Inc. "We are pleased that Lipper has recognized our investment excellence as we help advisors work with investors to reach their financial goals."
The Oppenheimer Equity Income Fund has been managed by Michael S. Levine, CFA, Vice President and Portfolio Manager, since July 2007. Using the OppenheimerFunds Value team's investment philosophy, Mr. Levine focuses on identifying companies that are undervalued relative to their potential long-term earnings power with an above average yield.
The Oppenheimer Gold & Special Minerals Fund has been managed by Shanquan Li, Vice President and Portfolio Manager, since June 1997. Mr. Li combines industry-wide, or "top-down" analysis with rigorous company-specific, or "bottom-up," fundamental analysis to find prospective investments. He searches in particular for high quality mining firms with multiple projects and diversified regional exposure.
About OppenheimerFunds, Inc.
OppenheimerFunds, Inc. is one of the nation's largest and most respected investment management companies. As of December 31, 2010, OppenheimerFunds, Inc., including subsidiaries, managed more than $182 billion in assets, including mutual funds having approximately 11 million shareholder accounts (including sub-accounts.) Known for its tagline The Right Way to Invest, OppenheimerFunds, Inc. has been helping investors reach their financial goals since 1960. The Company and its controlled affiliates offer a broad range of products and services to individuals, corporations and institutions, including mutual funds, separately managed accounts, investment management for institutions, 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 12/31/10. Awards are presented for the highest Lipper Leader for Consistent Return within each eligible classification over 3, 5 or 10 years. A Best-in-Class award for the ten-year period ending 12/31/10 is for: Class A shares of Oppenheimer Equity Income Fund among 106 Equity Income funds. A Best-in-Class award for the five-year period ending 12/31/10 is for: Class A shares of Oppenheimer Gold & Special Minerals Fund among 50 Precious Metals funds. A Best-in-Class award for the three-year period ending 12/31/10 is for: Class A shares of Oppenheimer Equity Income Fund among 231 Equity Income funds.
Other share classes may have different performance and expense characteristics. 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 fall and a fund's share price can fall. May invest in foreign securities, which entail special risks (such as currency fluctuations and political uncertainties) and may have higher expenses and volatility. Convertible bonds are subject to the additional risk that the market value of the equity or other securities into which they are convertible will never be sufficient to justify conversion, rendering the conversion value of the bonds worthless. Investments in mining and metal industry companies may be speculative and may be subject to volatility. Large sector holdings may expose investors to greater volatility and special risks associated with that sector.
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, 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
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