Fund Facts  

Inception Date: Sep 8, 1999
CUSIP: 68381K101
Ticker Symbol: OOSAX
Morningstar Category:Bank Loan
As of Sep 30, 2017
Fund Net Assets ($millions) $14,576

Documents for Fund or Underlying Fund(s)  

Description

Objective  

The investment seeks income.

Principal Investment Strategies  

The fund invests mainly in floating rate loans that hold a senior position in the capital structure of U.S. and foreign corporations, partnerships or other business entities that, under normal circumstances, allow them to have priority of claim ahead of other obligations of a borrower in the event of liquidation. Under normal market conditions, it will invest at least 80% of its net assets (plus the amount of any borrowings for investment purposes) in Senior Loans. The fund can invest up to 20% of its total assets in cash or other loans, securities and other investments.

Principal Investment Risks  

There is no guarantee that the Fund will achieve its investment objective. You may lose money by investing in the Fund. Please see the Fund’s prospectus or other disclosure documents for information about the Fund’s risks.

 

Performance & Expenses

Standard Performance As of Sep 30, 2017
Fund/Benchmark Name QtrYTD1-Yr3-Yr5-Yr10-YrSince Inception
Oppenheimer Senior Fltng Ratea0.84%2.29%5.68%3.84%4.16%4.38%4.88%
Credit Suisse Leveraged Loan Indexa,b1.06%3.04%5.36%3.96%4.40%4.43%N/A
Morningstar Bank Loana,c0.90%2.48%4.46%3.14%3.46%3.41%N/A

Fund past performance, as shown, is no guarantee of how the Fund will perform in the future. The performance shown has been annualized for periods greater than one year. Investment returns and principal value will fluctuate, so that an investor's shares, when redeemed, may be worth more or less than their original cost. For current performance, visit www.icmarc.org.

Fund performance is shown comparing it to a "benchmark" which may be a (i) broad-based securities market index (ii) a group of mutual funds with similar investment objectives, or (iii) a short term government backed debt obligation such as a U.S. Treasury Bill. An index is not available for direct investment, is unmanaged, and does not reflect the costs of portfolio management or trading. A fund's portfolio may differ from the securities held in an index.

Fund Expensesa,d
Gross Expenses1.13%
Net Expenses0.97%

 

a. Certain information including, but not limited to, benchmark performance or other performance and/or fee information, is provided by Morningstar, Inc., © 2017 All rights reserved. This information: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed and (3) is not warranted to be accurate, complete or timely. Neither Morningstar and/or its content providers are responsible for any damages or losses arising from any use of information. Morningstar is a registered trademark of Morningstar, Inc.

b. The Credit Suisse Leveraged Loan Index tracks the investable market of the U.S. dollar denominated leveraged loan market. It consists of issues rated "5B" or lower, meaning that the highest rated issues included in this index are Moody's/S&P ratings of Baa1/BB+ or Ba1/BBB+. All loans are funded term loans with a tenor of at least one year and are made by issuers domiciled in developed countries.

c. The Morningstar category represents the average return for a category of funds with similar investment objectives and strategies. The average is calculated and funds are assigned to a category by Morningstar.

d. Differences between the net expense ratio and gross expense ratio of a fund are typically due to fee waivers, expense reimbursements, expense limits, and/or the reimbursement of fees to the fund.

Morningstar Information

Morningstar RatingTM   As of Sep 30, 2017
Period Stars Category Size
Overall 5 Stars209
3-Year 4 Stars209
5-Year 4 Stars158
10-Year 5 Stars64

The Morningstar Rating™ for funds, or “star rating”, is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange–traded funds, closed–end funds, and separate accounts) with at least a three–year history. Exchange–traded funds and open–ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk–Adjusted Return measure that accounts for variation in a managed product′s monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its three–, five–, and 10–year (if applicable) Morningstar Rating metrics. The weights are: 100% three–year rating for 36–59 months of total returns, 60% five–year rating⁄40% three–year rating for 60–119 months of total returns, and 50% 10–year rating⁄30% five–year rating⁄20% three-year rating for 120 or more months of total returns. While the 10-year overall star rating formula seems to give the most weight to the 10-year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods.

Morningstar Stylebox As of Sep 30, 2017
Fixed Income Stylebox
Low Limited
Allocation of Assets As of Aug 31, 2017
Type of Asset Percent
Equity2%
Fixed Income90%
Cash/Other8%

Due to rounding, percentages shown may not add up to 100%.

 
 

Characteristics

Allocation of Assets As of Aug 31, 2017
Asset ClassPercent
Domestic Stock1.8%
Foreign Stock0.0%
Domestic Bond84.5%
Foreign Bond5.6%
Preferred0.0%
Convertible0.0%
Cash7.8%
Other0.3%

Due to rounding, percentages shown may not add up to 100%.

 
Fixed Income Sector As of Aug 31, 2017
SectorPercent
Corporate90.1%
Cash & Equivalents7.8%

Exposure reflects fixed income securities only and will sum to the fixed income exposure of the fund.

 
Credit Quality As of Jun 30, 2017
Quality LevelPercent
AAA6.2%
AA0.0%
A0.0%
BBB5.6%
BB42.4%
B34.5%
Below B5.3%
Not Rated5.9%

Due to rounding, percentages shown may not add up to 100%. Exposure reflects fixed income securities only.

 
Top Ten Holdings As of Aug 31, 2017
Holding NamePercent
T/L Clear Channel Tl D-Ext 1l1.8%
Arch Coal Inc1.6%
T/L Murray Energy Tl B2 1l1.2%
T/L Avaya Inc Tl B7 1l1.2%
T/L Western Express Tl 2l1.1%
T/L Weight Watchers Tl B2 1l1.0%
T/L Avolon Hldgs Ltd Tl B 1l0.9%
T/L Centurylink Inc Tl B 1l0.9%
T/L Czr (Cgp 1st Lien)0.8%
T/L Sprint Comms Tl B 1l0.8%
 

Statistics

Portfolio Statistics As of Sep 30, 2017
Statistic3-Year5-Year
BetaN/AN/A
AlphaN/AN/A
Standard Deviation3.512.84
 
 

Footnotes

1.

Please read the fund's prospectus carefully for a complete summary of all fees, expenses, investment objectives and strategies, risks, financial highlights, and performance information. Investing involves risk, including possible loss of the amount invested. Investors should carefully consider the information contained in the prospectus before investing. You may contact us to obtain a prospectus or to answer questions by calling 800-669-7400, emailing investorservices@icmarc.org, or visiting www.icmarc.org.

The source for this information is Morningstar, Inc. Copyright © 2017 Morningstar, Inc.® All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Morningstar, Inc. is a global investment research firm that is not affiliated with ICMA-RC. ICMA-RC does not independently verify Morningstar data.

Morningstar places funds in certain categories based on the fund's historical portfolio holdings. Placement of a fund in a particular Morningstar category does not mean that the fund will remain in that category or that it will invest primarily in securities consistent with its Morningstar category. A fund's investment strategy and portfolio holdings are governed by its prospectus, guidelines or other governing documents, not its Morningstar category.