Annual Performance
| OIM Intermediate Fixed Income Annual Performance Since Inception | |||
|---|---|---|---|
| Year End | Gross | Net | Bloomberg Barclays Intermed Gov/Credit Index |
| 2020 | 5.22% | 4.99% | 6.43% |
| 2019 | 7.58% | 7.35% | 6.80% |
| 2018 | 0.64% | 0.43% | 0.88% |
| 2017 | 2.60% | 2.35% | 2.14% |
| 2016 | 3.68% | 3.38% | 2.08% |
| 2015 | 0.77% | 0.53% | 1.07% |
| 2014 | 3.54% | 3.32% | 3.13% |
| 2013 | -0.07% | -0.27% | -0.86% |
| 2012 | 6.87% | 6.64% | 3.89% |
| 2011 | 5.84% | 5.60% | 5.80% |
| 2010 | 6.30% | 6.05% | 5.89% |
| 2009 | 8.77% | 8.40% | 5.24% |
| 2008 | 2.44% | 2.08% | 5.08% |
| 2007 | 6.17% | 5.86% | 7.39% |
| 2006 | 4.50% | 4.23% | 4.08% |
| 2005 | 2.38% | 2.08% | 1.58% |
| 2004 | 3.85% | 3.56% | 3.04% |
| 2003 | 5.05% | 4.76% | 4.31% |
| 2002 | 8.33% | 8.04% | 9.84% |
| 2001 | 7.73% | 7.44% | 8.96% |
| 2000 | 9.95% | 9.66% | 10.12% |
| 1999 | 1.69% | 1.42% | 0.39% |
| 1998 | 7.31% | 7.03% | 8.44% |
| 1997 | 8.03% | 7.73% | 7.87% |
| 1996 | 4.81% | 4.53% | 4.06% |
| OIM Core Fixed Income Annual Performance Since Inception | |||
|---|---|---|---|
| Year End | Gross | Net | Bloomberg Barclays US Aggregate Index |
| 2020 | 7.11% | 6.78% | 7.51% |
| 2019 | 9.52% | 9.19% | 8.72% |
| 2018 | 0.17% | -0.13% | 0.01% |
| 2017 | 3.54% | 3.21% | 3.54% |
| 2016 | 3.99% | 3.65% | 2.65% |
| 2015 | 0.51% | 0.17% | 0.55% |
| 2014 | 5.57% | 5.24% | 5.97% |
| 2013 | -0.49% | -0.80% | -2.02% |
| 2012 | 8.37% | 8.08% | 4.21% |
| 2011 | 6.95% | 6.68% | 7.84% |
| 2010 | 8.14% | 7.89% | 6.54% |
| 2009 | 11.46% | 11.19% | 5.93% |
| 2008 | -0.13% | -0.40% | 5.24% |
| 2007 | 5.90% | 5.64% | 6.97% |
| 2006 | 4.65% | 4.37% | 4.33% |
| 2005 | 3.30% | 3.03% | 2.43% |
| 2004 | 4.78% | 4.54% | 4.34% |
| 2003 | 4.90% | 4.66% | 4.10% |
| 2002 | 8.92% | 8.66% | 10.25% |
| 2001 | 9.15% | 8.90% | 8.44% |
| 2000 | 11.71% | 11.42% | 11.63% |
| 1999 | -0.15% | -0.34% | -0.82% |
| 1998 | 8.42% | 8.22% | 8.69% |
| 1997 | 10.35% | 9.86% | 9.68% |
| 1996 | 5.46% | 5.04% | 3.61% |
| 1995 | 20.14% | 19.59% | 18.48% |
| 1994 | -2.34% | -2.74% | -2.92% |
| 1993 | 14.00% | 13.57% | 9.75% |
| 1992 | 10.28% | 9.79% | 7.40% |
| 1991 | 21.30% | 20.78% | 16.00% |
| OIM Core Plus Fixed Income Annual Performance Since Inception | |||
|---|---|---|---|
| Year End | Gross | Net | Bloomberg Barclays US Aggregate Index |
| 2020 | 7.25% | 6.98% | 7.51% |
| 2019 | 8.77% | 8.49% | 8.72% |
| 2018 | 0.44% | 0.19% | 0.01% |
| 2017 | 3.63% | 3.37% | 3.54% |
| 2016 | 5.23% | 4.96% | 2.65% |
| 2015 | 0.25% | 0.00% | 0.55% |
| 2014 | 4.36% | 4.07% | 5.97% |
| 2013 | 0.47% | 0.18% | -2.02% |
| 2012 | 9.27% | 8.90% | 4.21% |
| 2011 | 7.48% | 7.11% | 7.84% |
| 2010 | 9.24% | 8.89% | 6.54% |
| 2009 | 11.73% | 11.37% | 5.93% |
| 2008 | 1.69% | 1.35% | 5.24% |
| 2007 | 5.70% | 5.32% | 6.97% |
| 2006 | 4.93% | 4.56% | 4.33% |
| 2005 | 2.62% | 2.07% | 2.43% |
| 2004 | 5.59% | 4.73% | 4.34% |
| 2003 | 10.91% | 9.73% | 4.10% |
| 2002 | 6.62% | 5.76% | 10.25% |
| 2001 | 9.32% | 8.65% | 8.44% |
| 2000 | 10.101% | 10.31% | 11.63% |
| 1999 | 0.74% | 0.24% | -0.82% |
| 1998 | 8.13% | 7.69% | 8.69% |
| 1997 | 10.57% | 10.25% | 9.68% |
| OIM Corp Core Plus Fixed Annual Performance Since Inception | |||
|---|---|---|---|
| Year End | Gross | Net | Bloomberg Barclays US Credit Index |
| 2020 | 8.62% | 8.25% | 9.36% |
| 2019 | 14.28% | 13.89% | 13.79% |
| 2018 | -1.66% | -1.99% | -2.12% |
| 2017 | 6.29% | 5.93% | 6.18% |
| 2016 | 10.44% | 10.05% | 5.63% |
| 2015 | 1.07% | 0.71% | -0.78% |
| 2014 | 6.74% | 6.37% | 7.53% |
| 2013 | 2.40% | 2.04% | -2.02% |
| 2012 | 13.36% | 12.98% | 9.38% |
| 2011 | 8.10% | 7.73% | 8.36% |
| 2010* | 7.98% | 7.82% | 2.70% |
| *Partial return beginning 7/1/2010 | |||
| OIM High Yield Fixed Income Annual Performance Since Inception | |||
|---|---|---|---|
| Year End | Gross | Net | ICE BofA/US High Yield Index |
| 2020 | 5.69% | 5.39% | 6.17% |
| 2019 | 13.68% | 13.34% | 14.41% |
| 2018 | -1.58% | -1.90% | -2.27% |
| 2017 | 6.88% | 6.53% | 7.48% |
| 2016 | 12.79% | 12.44% | 17.49% |
| 2015 | -6.36% | -6.64% | -4.64% |
| 2014 | -0.06% | -0.36% | 2.49% |
| 2013 | 9.01% | 8.69% | 7.42% |
| 2012 | 15.73% | 15.38% | 15.58% |
| 2011 | 4.50% | 3.99% | 4.38% |
| 2010 | 16.52% | 15.93% | 15.19% |
| 2009 | 46.42% | 45.69% | 57.51% |
| 2008 | -21.81% | -22.26% | -26.39% |
| 2007 | 4.53% | 3.96% | 2.19% |
| 2006 | 10.101% | 10.23% | 11.77% |
| 2005 | 1.98% | 1.56% | 2.74% |
Past performance is no guarantee of future results.
Oppenheimer Investment Management LLC (“OIM”) is a federally registered investment adviser. OIM is a wholly owned subsidiary of Oppenheimer Asset Management Inc., a federally registered investment adviser and an affiliate of Oppenheimer & Co. Inc., a federally registered investment adviser and broker-dealer. Oppenheimer Investment Management LLC claims compliance with the Global Investment Performance Standards (GIPS®). Contact Cyndi Collins at (317) 843-3607, Email cyndi.collins@opco.com for a full disclosure presentation that complies with the requirements of the Global Investment Performance Standards (GIPS®) adopted by the CFA Institute (formerly known as The Association for Investment Management and Research or AIMR) and for a list and description of all composites maintained by OIM.
The OIM Core Fixed Income Composite was created July 1, 2005. All performance shown prior to the third quarter, 2005 is that of the Core Fixed Income composite that was managed by OIM's Fixed Income portfolio team at its prior firm during the period shown using the same investment strategy that the team currently uses in managing Core fixed income accounts at OIM. The performance shown prior to the third quarter 2005 was calculated on the basis of records obtained from such prior firm, which are deemed reliable by OIM. The information sets forth both the total return of the composite managed at OIM and the composite at the prior firm. Performance is expressed in U.S. dollars. Performance information shown for the composite is presented gross and net of actual investment management fees. Returns have been reduced by transaction costs and include the reinvestment of all income. For performance information prior to the third quarter 2005, the net returns reflect the deduction of actual fees charged at the prior firm. Past performance of the composite managed at the prior firm does not necessarily indicate how the OIM Core Fixed Income Composite will perform in the future. The performance information gives some indication of the risks of an investment in the OIM Core Fixed Income Composite, which are similar to the risks of an investment in the composite managed at the prior firm. The annual composite dispersion presented is an asset-weighted standard deviation calculated for the accounts in the composite the entire year. Additional information regarding the policies for calculating and reporting returns is available upon request. Please see OIM's Form ADV-Part 2A for a description of advisory fees and other detailed information.
The Core Fixed Income Composite consists of fully discretionary fixed income portfolios investing primarily in investment-grade corporate bonds, mortgage backed and other structured securities, U.S. government securities, taxable municipal bonds and non-investment grade bonds. The composite is measured against the Bloomberg Barclays Capital U.S. Aggregate Index.
The Bloomberg Barclays Capital U.S. Aggregate Index covers the USD-denominated, investment-grade, fixed-rate, taxable bond market of SEC-registered securities. The Index includes bonds from the Treasury, Government-Related, Corporate, MBS (agency fixed-rate and hybrid ARM pass throughs), ABS, and CMBS sectors. The U.S. Aggregate Index is a component of the U.S. Universal Index in its entirety. The index was created in 1986 with index history backfilled to January 1, 1976. All issues in the Aggregate Index are rated Baa3/BBB-/BBB- or higher (using the middle rating of Moody's, S&P, and Fitch, respectively) and have at least one year to maturity and have an outstanding par value of at least $250 million. An index is unmanaged and is not available for direct investment.
The OIM Core Plus Fixed Income Composite was created July 1, 2005. All performance shown prior to the third quarter, 2005 is that of the Core Plus Fixed Income composite that was managed by OIM's Fixed Income portfolio team at its prior firm during the period shown using the same investment strategy that the team currently uses in managing Core Plus fixed income accounts at OIM. The performance shown prior to the third quarter 2005 was calculated on the basis of records obtained from such prior firm, which are deemed reliable by OIM. The information sets forth both the total return of the composite managed at OIM and the composite at the prior firm. Performance is expressed in U.S. dollars. Performance information shown for the composite is presented gross and net of actual investment management fees. Returns have been reduced by transaction costs and include the reinvestment of all income. For performance information prior to the third quarter 2005, the net returns reflect the deduction of actual fees charged at the prior firm. Past performance of the composite managed at the prior firm does not necessarily indicate how the OIM Core Plus Fixed Income Composite will perform in the future. The performance information gives some indication of the risks of an investment in the OIM Core Plus Fixed Income Composite, which are similar to the risks of an investment in the composite managed at the prior firm. The annual composite dispersion presented is an asset-weighted standard deviation calculated for the accounts in the composite the entire year. Additional information regarding the policies for calculating and reporting returns is available upon request. Please see OIM's Form ADV-Part 2A for a description of advisory fees and other detailed information.
The Core Plus Fixed Income Composite consists of fully discretionary fixed income portfolios investing primarily in investment-grade corporate bonds, mortgage backed and other structured securities, U.S. government securities, taxable municipal bonds and non-investment grade bonds. The composite is measured against the Bloomberg Barclays Capital U.S. Aggregate Index.
The Bloomberg Barclays Capital U.S. Aggregate Index covers the USD-denominated, investment-grade, fixed-rate, taxable bond market of SEC-registered securities. The Index includes bonds from the Treasury, Government-Related, Corporate, MBS (agency fixed-rate and hybrid ARM pass throughs), ABS, and CMBS sectors. The U.S. Aggregate Index is a component of the U.S. Universal Index in its entirety. The index was created in 1986 with index history backfilled to January 1, 1976. All issues in the Aggregate Index are rated Baa3/BBB-/BBB- or higher (using the middle rating of Moody's, S&P, and Fitch, respectively) and have at least one year to maturity and have an outstanding par value of at least $250 million. An index is unmanaged and is not available for direct investment.
The OIM Intermediate Fixed Income Composite was created July 1, 2005. All performance shown prior to the third quarter, 2005 is that of the Intermediate Fixed Income composite that was managed by OIM's Fixed Income portfolio team at its prior firm during the period shown using the same investment strategy that the team currently uses in managing Intermediate fixed income accounts at OIM. The performance shown prior to the third quarter 2005 was calculated on the basis of records obtained from such prior firm, which are deemed reliable by OIM. The information sets forth both the total return of the composite managed at OIM and the composite at the prior firm. Performance is expressed in U.S. dollars. Performance information shown for the composite is presented gross and net of actual investment management fees. Returns have been reduced by transaction costs and include the reinvestment of all income. For performance information prior to the third quarter 2005, the net returns reflect the deduction of actual fees charged at the prior firm. Past performance of the composite managed at the prior firm does not necessarily indicate how the OIM Intermediate Fixed Income Composite will perform in the future. The performance information gives some indication of the risks of an investment in the OIM Intermediate Fixed Income Composite, which are similar to the risks of an investment in the composite managed at the prior firm.. The annual composite dispersion presented is an asset-weighted standard deviation calculated for the accounts in the composite the entire year. Additional information regarding the policies for calculating and reporting returns is available upon request. Please see OIM's Form ADV-Part 2A for a description of advisory fees and other detailed information.
The Intermediate Fixed Income Composite consists of fully discretionary fixed income portfolios investing primarily in investment-grade corporate bonds, mortgage backed and other structured securities, U.S. government securities, taxable municipal bonds. The composite is measured against the Bloomberg Barclays Capital Intermediate Government/Credit Index.
The Bloomberg Barclays Capital U.S. Government/Credit Intermediate Bond Index is a subgroup of the Bloomberg Barclays Government/Credit Bond Index that is based on maturity with at least 10 years. The U.S. Government/Credit Bond Index is the non-securitized component of the U.S. Aggregate Index. Specifically, the Government/Credit Index includes treasuries (i.e., public obligations of the US Treasury that have remaining maturities of more than 1 year), Government-Related issues (i.e. agency, sovereign, supranational, and local authority debt) and Corporates ( publicly issued US corporate and Yankee debentures and secured notes that meet specified maturity, liquidity, and quality requirements). All issues in the Government/Credit Index are rated Baa3/BBB-/BBB- or higher (using the middle rating of Moody's, S&P, and Fitch, respectively) and have at least one year to maturity and have an outstanding par value of at least $250 million. An index is unmanaged and is not available for direct investment.
The OIM High Yield Fixed Income Composite was created July 1, 2005. All performance shown prior to the third quarter, 2005 is that of the High Yield Fixed Income composite that was managed by OIM's Fixed Income portfolio team at its prior firm during the period shown using the same investment strategy that the team currently uses in managing High Yield fixed income accounts at OIM. The performance shown prior to the third quarter 2005 was calculated on the basis of records obtained from such prior firm, which are deemed reliable by OIM. The information sets forth both the total return of the composite managed at OIM and the composite at the prior firm. Performance is expressed in U.S. dollars. Performance information shown for the composite is presented gross and net of actual investment management fees. Returns have been reduced by transaction costs and include the reinvestment of all income. For performance information prior to the third quarter 2005, the net returns reflect the deduction of actual fees charged at the prior firm. Past performance of the composite managed at the prior firm does not necessarily indicate how the OIM High Yield Fixed Income Composite will perform in the future. The performance information gives some indication of the risks of an investment in the OIM High Yield Fixed Income Composite, which are similar to the risks of an investment in the composite managed at the prior firm. The annual composite dispersion presented is an asset-weighted standard deviation calculated for the accounts in the composite the entire year. Additional information regarding the policies for calculating and reporting returns is available upon request. Please see OIM's Form ADV-Part 2A for a description of advisory fees and other detailed information.
The High Yield Fixed Income Composite consists of fully discretionary fixed income portfolios investing primarily in corporate bonds and other distressed securities, U.S. government securities, taxable municipal bonds. The composite is measured against the BofA/Merrill Lynch High Yield Master II Index.
The BofA/ML High Yield Master Index is a capitalization-weighted index that provides a broad measure of the performance of the non-investment grade US domestic bond market. The index is limited to US domestic and Yankee markets. Bonds must have greater than 1 year remaining to final maturity, at least $100 million face outstanding, US dollar pay, have a fixed coupon schedule with a credit rating below investment grade not in default. An index is unmanaged and is not available for direct investment.
The OIM Corporate Core Plus Fixed Income Composite was created July 1, 2014. Performance information shown for the composite is presented gross and net of actual investment management fees. Returns have been reduced by transaction costs and include the reinvestment of all income. Past performance of the composite does not necessarily indicate how the OIM Corporate Core Plus Fixed Income Composite will perform in the future. The performance information gives some indication of the risks of an investment in the OIM Corporate Core Plus Fixed Income Composite. The annual composite dispersion presented is an asset-weighted standard deviation calculated for the accounts in the composite the entire year. Additional information regarding the policies for calculating and reporting returns is available upon request. Please see OIM's Form ADV-Part 2A for a description of advisory fees and other detailed information.
The OIM Corporate Core Plus Fixed Income Composite consists of fully discretionary fixed income portfolios investing primarily in investment-grade and non-investment grade corporate bonds. The composite is measured against the Bloomberg Barclays U.S. Credit Index.
The Bloomberg Barclays U.S. Credit Index measures the investment grade, US dollar-denominated, fixed-rate, taxable corporate and government-related bond markets. It is composed of the US Corporate Index and a non-corporate component that includes foreign agencies, sovereigns, supranationals and local authorities. The US Credit Index is a subset of the US Government/Credit Index and US Aggregate Index. An index is unmanaged and is not available for direct investment.
Disclosures
Oppenheimer Investment Management LLC (OIM) is a federally registered investment adviser. OIM is a subsidiary of Oppenheimer Asset Management Inc., a federally registered investment adviser and an affiliate of Oppenheimer & Co. Inc., a federally registered investment adviser and broker-dealer. Registration does not imply a certain level of skill or training. OIM claims compliance with the Global Investment Performance Standards (GIPS®). GIPS® is a registered trademark of CFA Institute. CFA Institute does not endorse or promote this organization, nor does it warrant the accuracy or quality of the content contained herein. Contact Cyndi Collins at (317) 843-3607 or Cyndi.Collins@opco.com for a full disclosure presentation that complies with the requirements of GIPS® adopted by the CFA Institute and for a list and description of all composites maintained by OIM. Performance information for the OIM Core Fixed Income Composite is only available commencing with the Third Quarter, 2005. All performance shown prior to the Third Quarter, 2005 is that of the Core Fixed Income composite that was managed by OIM's Fixed Income portfolio team at its prior firm during the period shown using the same investment strategy for similar accounts that the team currently uses in managing Core fixed income accounts at OIM. The current managers were primarily responsible for achieving the prior performance results. There have been changes to the investment team at OIM, but the investment strategy remains the same. The performance shown prior to the Third Quarter 2005 was calculated on the basis of records obtained from such prior firm, which are deemed to be reliable by OIM. The information sets forth both the total return of the composite managed at OIM and the composite at the prior firm. Performance information shown for the composite is presented gross and net of actual investment management fees. Returns have been reduced by transaction costs and include the reinvestment of all income. U.S. Dollars are the currency used to express performance.
For performance information prior to the Third Quarter 2005, the net returns reflect the deduction of actual fees charged at the prior firm. Past performance of the composite managed at the prior firm does not necessarily indicate how the OIM Core Fixed Income Composite will perform in the future. The performance information gives some indication of the risks of an investment in the OIM Core Fixed Income Composite, which are similar to the risks of an investment in the composite managed at the prior firm. The risks associated with investing in fixed income include loss of principal, risks related to interest rate movements (interest rate risk and reinvestment risk), the risk of credit quality deterioration (credit or default risk) and liquidity risk (the risk of not being able to buy or sell investments quickly for a price close to the true underlying value of the asset). There is no guarantee that the portfolio manager will achieve similar results in the future. Please see OIM's Form ADV-Part 2A for a description of advisory fees and other detailed information.
“Assets in Composite” consist of assets only in the OIM Core Fixed Income Composite. “Assets in OIM Strategy” are composite and non-composite assets managed by OIM according to the Core Fixed Income Strategy. Non-composite assets are not included in the Core Fixed Income Composite due to client restrictions.
“Assets in OIA Strategy” consist of assets in Oppenheimer Investment Advisers (OIA), an affiliated firm’s Core Fixed Income product managed with similar investment objectives and by the same OIM portfolio managers. Core Fixed Income Composite consists of fully discretionary fixed income portfolios investing primarily in investment-grade corporate bonds, mortgage backed and other structured securities, U.S. government securities, taxable municipal bonds and noninvestment grade bonds.
The OIM Core strategy is implemented differently than the OIA Core strategy in that the OIA Core strategy includes additional constraints on average coupon, yield and maturity exposures at the account level. In addition since the OIA strategy is offered to retail high net worth investors, it will not include 144A exempt securities that may have associated higher yields and higher risks. As a result, the OIM Core composite reflects higher returns and performance than the OIA composite.
The Bloomberg Capital Aggregate Bond Index is composed of securities from the Bloomberg Capital Government/Corporate Bond Index, Mortgage-Backed Securities Index and Asset- Back Securities Index. Indices are unmanaged, hypothetical portfolios of securities that are often used as a benchmark in evaluating the relative performance of a particular investment. An index should only be compared with a mandate that has a similar investment objective. An index is not available for direct investment, and does not reflect any of the costs associated with buying and selling individual securities or management fees.
Up/Down Market Capture
Measure of a product’s performance in up/down market quarters relative to an appropriate market benchmark over a given period. The product’s return during up/down market quarters is then divided by the relevant benchmark return for the same period. The higher the ratio the better the product performed relative to the benchmark in up markets. The lower the ratio the better the product protected capital during market declines. Note: The statistic may be less significant if the number of up/down quarters is low or if the benchmark is not relevant to the manager’s style.
Oppenheimer Investment Management LLC (OIM) is a federally registered investment adviser. OIM is a subsidiary of Oppenheimer Asset Management Inc., a federally registered investment adviser and an affiliate of Oppenheimer & Co. Inc., a federally registered investment adviser and broker-dealer. Registration does not imply a certain level of skill or training. OIM claims compliance with the Global Investment Performance Standards (GIPS®). GIPS® is a registered trademark of CFA Institute. CFA Institute does not endorse or promote this organization, nor does it warrant the accuracy or quality of the content contained herein. Contact Cyndi Collins at (317) 843-3607 or Cyndi.Collins@opco.com for a full disclosure presentation that complies with the requirements of GIPS® adopted by the CFA Institute and for a list and description of all composites maintained by OIM. Performance information for the OIM Core Plus Fixed Income Composite is only available commencing with the Third Quarter, 2005. All performance shown prior to the Third Quarter, 2005 is that of the Core Plus Fixed Income composite that was managed by OIM's Fixed Income portfolio team at its prior firm during the period shown using the same investment strategy for similar accounts that the team currently uses in managing Core Plus fixed income accounts at OIM. The current managers were primarily responsible for achieving the prior performance results. There have been changes to the investment team at OIM, but the investment strategy remains the same. The performance shown prior to the Third Quarter 2005 was calculated on the basis of records obtained from such prior firm, which are deemed to be reliable by OIM. The information sets forth both the total return of the composite managed at OIM and the composite at the prior firm. Performance information shown for the composite is presented gross and net of actual investment management fees. Returns have been reduced by transaction costs and include the reinvestment of all income. U.S. Dollars are the currency used to express performance.
For performance information prior to the Third Quarter 2005, the net returns reflect the deduction of actual fees charged at the prior firm. Past performance of the composite managed at the prior firm does not necessarily indicate how the OIM Core Plus Fixed Income Composite will perform in the future. The performance information gives some indication of the risks of an investment in the OIM Core Plus Fixed Income Composite, which are similar to the risks of an investment in the composite managed at the prior firm. The risks associated with investing in fixed income include loss of principal, risks related to interest rate movements (interest rate risk and reinvestment risk), the risk of credit quality deterioration (credit or default risk) and liquidity risk (the risk of not being able to buy or sell investments quickly for a price close to the true underlying value of the asset). There is no guarantee that the portfolio manager will achieve similar results in the future. Please see OIM's Form ADV-Part 2A for a description of advisory fees and other detailed information.
“Assets in Composite” consist of assets only in the OIM Core Plus Fixed Income Composite. “Assets in OIM Strategy” are composite and non-composite assets managed by OIM according to the Core Plus Fixed Income Strategy. Non-composite assets are not included in the Core Plus Fixed Income Composite due to client restrictions. High yield fixed income securities are considered to be speculative and involve a substantial risk of default. Adverse changes in economic conditions or developments regarding the issuer are more likely to cause price volatility for issuers of high yield debt than would be the case for issuers of higher grade debt securities. In addition, the market for high yield debt may be less attractive than that of higher-grade debt securities."
“Assets in OIA Strategy” consist of assets in Oppenheimer Investment Advisers (OIA), an affiliated firm’s Core Plus Fixed Income product managed with similar investment objectives and by the same OIM portfolio managers. Core Plus Fixed Income Composite consists of fully discretionary fixed income portfolios investing primarily in investment-grade corporate bonds, mortgage backed and other structured securities, U.S. government securities, taxable municipal bonds and noninvestment grade bonds.
The OIM Core Plus strategy is implemented differently than the OIA Core Plus strategy in that the OIA Core Plus strategy includes additional constraints on average coupon, yield and maturity exposures at the account level. In addition since the OIA strategy is offered to retail high net worth investors, it will not include 144A exempt securities that may have associated higher yields and higher risks. As a result, the OIM Core Plus composite reflects higher returns and performance than the OIA composite.
The Bloomberg Capital Aggregate Bond Index is composed of securities from the Bloomberg Capital Government/Corporate Bond Index, Mortgage-Backed Securities Index and Asset- Back Securities Index. Indices are unmanaged, hypothetical portfolios of securities that are often used as a benchmark in evaluating the relative performance of a particular investment. An index should only be compared with a mandate that has a similar investment objective. An index is not available for direct investment, and does not reflect any of the costs associated with buying and selling individual securities or management fees.
Up/Down Market Capture
Measure of a product’s performance in up/down market quarters relative to an appropriate market benchmark over a given period. The product’s return during up/down market quarters is then divided by the relevant benchmark return for the same period. The higher the ratio the better the product performed relative to the benchmark in up markets. The lower the ratio the better the product protected capital during market declines. Note: The statistic may be less significant if the number of up/down quarters is low or if the benchmark is not relevant to the manager’s style.
Oppenheimer Investment Management LLC (OIM) is a federally registered investment adviser. OIM is a subsidiary of Oppenheimer Asset Management Inc., a federally registered investment adviser and an affiliate of Oppenheimer & Co. Inc., a federally registered investment adviser and broker-dealer. Registration does not imply a certain level of skill or training. OIM claims compliance with the Global Investment Performance Standards (GIPS®). GIPS® is a registered trademark of CFA Institute. CFA Institute does not endorse or promote this organization, nor does it warrant the accuracy or quality of the content contained herein. Contact Cyndi Collins at (317) 843-3607 or Cyndi.Collins@opco.com for a full disclosure presentation that complies with the requirements of GIPS® adopted by the CFA Institute and for a list and description of all composites maintained by OIM. Performance information for the OIM Intermediate Fixed Income Composite is only available commencing with the Third Quarter, 2005. All performance shown prior to the Third Quarter, 2005 is that of the Intermediate Fixed Income composite that was managed by OIM's Fixed Income portfolio team at its prior firm during the period shown using the same investment strategy for similar accounts that the team currently uses in managing Intermediate fixed income accounts at OIM. The current managers were primarily responsible for achieving the prior performance results. There have been changes to the investment team at OIM, but the investment strategy remains the same. The performance shown prior to the Third Quarter 2005 was calculated on the basis of records obtained from such prior firm, which are deemed to be reliable by OIM. The information sets forth both the total return of the composite managed at OIM and the composite at the prior firm. Performance information shown for the composite is presented gross and net of actual investment management fees. Returns have been reduced by transaction costs and include the reinvestment of all income. U.S. Dollars are the currency used to express performance.
For performance information prior to the Third Quarter 2005, the net returns reflect the deduction of actual fees charged at the prior firm. Past performance of the composite managed at the prior firm does not necessarily indicate how the OIM Intermediate Fixed Income Composite will perform in the future. The performance information gives some indication of the risks of an investment in the OIM Intermediate Fixed Income Composite, which are similar to the risks of an investment in the composite managed at the prior firm. The risks associated with investing in fixed income include loss of principal, risks related to interest rate movements (interest rate risk and reinvestment risk), the risk of credit quality deterioration (credit or default risk) and liquidity risk (the risk of not being able to buy or sell investments quickly for a price close to the true underlying value of the asset). There is no guarantee that the portfolio manager will achieve similar results in the future. Please see OIM's Form ADV-Part 2A for a description of advisory fees and other detailed information.
“Assets in Composite” consist of assets only in the OIM Intermediate Fixed Income Composite.
“Assets in OIM Strategy” are composite and non-composite assets managed by OIM according to the Intermediate Fixed Income Strategy. Non-composite assets are not included in the Intermediate Fixed Income Composite due to client restrictions.
“Assets in OIA Strategy” consist of assets in Oppenheimer Investment Advisers (OIA), an affiliated firm’s Intermediate Fixed Income product managed with similar investment objectives and by the same OIM portfolio managers. Intermediate Fixed Income Composite consists of fully discretionary fixed income portfolios investing primarily in investment-grade corporate bonds, mortgage backed and other structured securities, U.S. government securities, taxable municipal bonds. The composite is measured against the Bloomberg Capital Intermediate Government/Credit Index.
The OIM Intermediate strategy is implemented differently than the OIA Intermediate strategy in that the OIA Intermediate strategy includes additional constraints on average coupon, yield and maturity exposures at the account level. In addition since the OIA strategy is offered to retail high net worth investors, it will not include 144A exempt securities that may have associated higher yields and higher risks. As a result, the OIM Intermediate composite reflects higher returns and performance than the OIA composite.
The Bloomberg Intermediate Government Credit Bond Index is composed of securities from the Bloomberg Capital Government/Corporate Bond Index, Mortgage-Backed Securities Index and Asset-Back Securities Index. Indices are unmanaged, hypothetical portfolios of securities that are often used as a benchmark in evaluating the relative performance of a particular investment. An index should only be compared with a mandate that has a similar investment objective. An index is not available for direct investment, and does not reflect any of the costs associated with buying and selling individual securities or management fees.
Up/Down Market Capture
Measure of a product’s performance in up/down market quarters relative to an appropriate market benchmark over a given period. The product’s return during up/down market quarters is then divided by the relevant benchmark return for the same period. The higher the ratio the better the product performed relative to the benchmark in up markets. The lower the ratio the better the product protected capital during market declines. Note: The statistic may be less significant if the number of up/down quarters is low or if the benchmark is not relevant to the manager’s style.
Oppenheimer Investment Management LLC (OIM) is a federally registered investment adviser. OIM is a subsidiary of Oppenheimer Asset Management Inc., a federally registered investment adviser and an affiliate of Oppenheimer & Co. Inc., a federally registered investment adviser and broker-dealer. Registration does not imply a certain level of skill or training. OIM claims compliance with the Global Investment Performance Standards (GIPS®). GIPS® is a registered trademark of CFA Institute. CFA Institute does not endorse or promote this organization, nor does it warrant the accuracy or quality of the content contained herein. Contact Cyndi Collins at (317) 843-3607 or Cyndi.Collins@opco.com for a full disclosure presentation that complies with the requirements of GIPS® adopted by the CFA Institute and for a list and description of all composites maintained by OIM. Performance information for the OIM High Yield Fixed Income Composite is only available commencing with the Third Quarter, 2005. All performance shown prior to the Third Quarter, 2005 is that of the High Yield Fixed Income composite that was managed by OIM's Fixed Income portfolio team at its prior firm during the period shown using the same investment strategy for similar accounts that the team currently uses in managing High Yield fixed income accounts at OIM. The current managers were primarily responsible for achieving the prior performance results. There have been changes to the investment team at OIM, but the investment strategy remains the same. The performance shown prior to the Third Quarter 2005 was calculated on the basis of records obtained from such prior firm, which are deemed to be reliable by OIM. The information sets forth both the total return of the composite managed at OIM and the composite at the prior firm. Performance information shown for the composite is presented gross and net of actual investment management fees. Returns have been reduced by transaction costs and include the reinvestment of all income. U.S. Dollars are the currency used to express performance.
For performance information prior to the Third Quarter 2005, the net returns reflect the deduction of actual fees charged at the prior firm. Past performance of the composite managed at the prior firm does not necessarily indicate how the OIM High Yield Fixed Income Composite will perform in the future. The performance information gives some indication of the risks of an investment in the OIM High Yield Fixed Income Composite, which are similar to the risks of an investment in the composite managed at the prior firm. The risks associated with investing in fixed income include loss of principal, risks related to interest rate movements (interest rate risk and reinvestment risk), the risk of credit quality deterioration (credit or default risk) and liquidity risk (the risk of not being able to buy or sell investments quickly for a price close to the true underlying value of the asset). High yield fixed income securities are considered to be speculative and also involve a substantial risk of default. There is no guarantee that the portfolio manager will achieve similar results in the future. Please see OIM's Form ADV-Part 2A for a description of advisory fees and other detailed information.
“Assets in Composite” consist of assets only in the OIM High Yield Fixed Income Composite.
“Assets in OIM Strategy” are composite and non-composite assets managed by OIM according to the High Yield Fixed Income Strategy. Non-composite assets are not included in the High Yield Fixed Income Composite due to client restrictions. High yield fixed income securities are considered to be speculative and involve a substantial risk of default. Adverse changes in economic conditions or developments regarding the issuer are more likely to cause price volatility for issuers of high yield debt than would be the case for issuers of higher grade debt securities. In addition, the market for high yield debt may be less attractive than that of higher-grade debt securities."
“Assets in OIA Strategy” consist of assets in Oppenheimer Investment Advisers (OIA), an affiliated firm’s High Yield Fixed Income product managed with similar investment objectives and by the same OIM portfolio managers. The High Yield Fixed Income Composite consists of fully discretionary fixed income portfolios investing primarily in non-investment grade corporate bonds and other distressed securities which is speculative and entails higher investment risk. The composite is measured against the ICE BofA U.S. High Yield Index. The OIM High Yield strategy is implemented differently than the OIA High Yield strategy in that the OIA High Yield strategy includes additional constraints on average coupon, yield and maturity exposures at the account level. In addition since the OIA strategy is offered to retail high net worth investors, it will not include 144A exempt securities that may have associated higher yields and higher risks. As a result, the OIM High Yield composite reflects higher returns and performance than the OIA composite.
The ICE BofA U.S. High Yield Index is a capitalization-weighted index that provides a broad measure of the performance of the non-investment grade US domestic bond market. Indices are unmanaged, hypothetical portfolios of securities that are often used as a benchmark in evaluating the relative performance of a particular investment. An index should only be compared with a mandate that has a similar investment objective. An index is not available for direct investment, and does not reflect any of the costs associated with buying and selling individual securities or management fees.
Up/Down Market Capture
Measure of a product’s performance in up/down market quarters relative to an appropriate market benchmark over a given period. The product’s return during up/down market quarters is then divided by the relevant benchmark return for the same period. The higher the ratio the better the product performed relative to the benchmark in up markets. The lower the ratio the better the product protected capital during market declines. Note: The statistic may be less significant if the number of up/down quarters is low or if the benchmark is not relevant to the manager’s style.
Oppenheimer Investment Management LLC (OIM) is a federally registered investment adviser. OIM is a subsidiary of Oppenheimer Asset Management Inc., a federally registered investment adviser and an affiliate of Oppenheimer & Co. Inc., a federally registered investment adviser and broker-dealer. Registration does not imply a certain level of skill or training. OIM claims compliance with the Global Investment Performance Standards (GIPS®). GIPS® is a registered trademark of CFA Institute. CFA Institute does not endorse or promote this organization, nor does it warrant the accuracy or quality of the content contained herein. Contact Cyndi Collins at (317) 843-3607 or Cyndi.Collins@opco.com for a full disclosure presentation that complies with the requirements of GIPS® adopted by the CFA Institute and for a list and description of all composites maintained by OIM. Performance information for the OIM Corporate Core Plus Fixed Income Composite is available commencing with the Third Quarter, 2010. Performance information shown for the composite is presented gross and net of actual investment management fees. Returns have been reduced by transaction costs and include the reinvestment of all income. U.S. Dollars are the currency used to express performance.
The performance information gives some indication of the risks of an investment in the OIM Corporate Core Plus Fixed Income Composite. The risks associated with investing in fixed income include loss of principal, risks related to interest rate movements (interest rate risk and reinvestment risk), the risk of credit quality deterioration (credit or default risk) and liquidity risk (the risk of not being able to buy or sell investments quickly for a price close to the true underlying value of the asset). There is no guarantee that the portfolio manager will achieve similar results in the future. Please see OIM's Form ADV-Part 2A for a description of advisory fees and other detailed information.
“Assets in Composite” consist of assets only in the OIM Corporate Core Plus Fixed Income Composite.
“Assets in OIM Strategy” are composite and non-composite assets managed by OIM according to the Corporate Core Plus Fixed Income Strategy. Non-composite assets are not included in the Corporate Core Plus Fixed Income Composite due to client restrictions. High yield fixed income securities are considered to be speculative and involve a substantial risk of default. Adverse changes in economic conditions or developments regarding the issuer are more likely to cause price volatility for issuers of high yield debt than would be the case for issuers of higher grade debt securities. In addition, the market for high yield debt may be less attractive than that of higher-grade debt securities."
“Assets in OIA Strategy” consist of assets in Oppenheimer Investment Advisers (OIA), an affiliated firm’s Corporate Core Plus Fixed Income product managed with similar investment objectives and by the same OIM portfolio managers. The Corporate Core Plus Fixed Income Composite consists of fully discretionary fixed income portfolios investing primarily in investment-grade and high yield corporate bonds. The OIM Corporate Core Plus strategy is implemented differently than the OIA Corporate Core Plus strategy in that the OIA Corporate Core Plus strategy includes additional constraints on average coupon, yield and maturity exposures at the account level. In addition since the OIA strategy is offered to retail high net worth investors, it will not include 144A exempt securities that may have associated higher yields and higher risks. As a result, the OIM Corp Core Plus composite reflects higher returns and performance than the OIA composite.
The Bloomberg U.S. Credit Index measures the investment grade, US dollar denominated, fixed-rate, taxable corporate and government-related bond markets. Indices are unmanaged, hypothetical portfolios of securities that are often used as a benchmark in evaluating the relative performance of a particular investment. An index should only be compared with a mandate that has a similar investment objective. An index is not available for direct investment, and does not reflect any of the costs associated with buying and selling individual securities or management fees.
Up/Down Market Capture
Measure of a product’s performance in up/down market quarters relative to an appropriate market benchmark over a given period. The product’s return during up/down market quarters is then divided by the relevant benchmark return for the same period. The higher the ratio the better the product performed relative to the benchmark in up markets. The lower the ratio the better the product protected capital during market declines. Note: The statistic may be less significant if the number of up/down quarters is low or if the benchmark is not relevant to the manager’s style.