Founded in 1959, OppenheimerFunds currently has $204 billion worth of assets (as of January 29, 2016) under management, invested in 89 mutual funds across a wide range of categories, including equity, fixed income, alternative and multi-asset funds. With over 2,000 employees and 170 investment professionals, the company serves clients, including financial advisors, individual investors and institutional investors, across 77 countries. OppenheimerFunds is a subsidiary of MassMutual, which is one of the leading asset managers, with around $600 billion assets under management along with its affiliates.
Below we share with you five top-rated Oppenheimer mutual funds. Each has earned a Zacks Mutual Fund Rank #1 (Strong Buy) and is expected to outperform its peers in the future. To view the Zacks Rank and past performance of all Oppenheimer mutual funds, investors can click here.
Oppenheimer Global Opportunities Fund A (MUTF:OPGIX) primarily invests in a wide range of domestic and foreign equity securities. It focuses on acquiring stocks, but may also purchase debt securities. The fund may invest a maximum of 25% of its assets in "below-investment grade" securities or "junk bonds." Moreover, it may invest in developing or emerging countries and in small- and mid-cap companies. The fund has a three-year annualized return of 5.6%.
Frank V. Jennings is the fund manager of OPGIX since 1995.
Oppenheimer Equity Fund A (MUTF:OEQAX) seeks growth of capital. It invests the lion's share of its assets in equity securities of domestic companies. Though the fund primarily focuses on acquiring securities of mid- and large-cap companies, it may also invest in securities of small-cap companies. Moreover, it may invest in securities of companies located in foreign lands. The fund has a three-year annualized return of 5.8%.
OEQAX has an expense ratio of 0.98%, compared to the category average of 1.18%.
Oppenheimer Discovery Fund A (MUTF:OPOCX) primarily emphasizes investing in common stocks of domestic companies with solid growth potential. It invests in securities of companies having a market capitalization similar to those listed in the Russell 2000 Growth Index. The fund has a three-year annualized return of 2.8%.
As of December 2015, OPOCX held 105 issues, with 2.50% of its assets invested in Bright Horizons Family Solutions Inc. (NYSE:BFAM)
Oppenheimer Rochester AMT-Free Municipals Fund A (MUTF:OPTAX) seeks tax-exempted income. The fund invests a large chunk of its assets in securities that are expected to provide returns exempted from regular federal and state income taxes. The assets of OPTAX are not invested in municipal securities, the interest income on which is not free from the federal "alternative minimum tax" (AMT). The fund has a three-year annualized return of 4.3%.
OPTAX has an expense ratio of 0.87%, compared to the category average of 0.97%.
Oppenheimer International Growth Fund A (MUTF:OIGAX) may invest all of its assets in non-U.S. companies with impressive growth prospects. It invests more than 65% of its assets in common and preferred stocks of companies located in at least three different countries other than the U.S. The fund has a three-year annualized return of 1.5%.
As of December 2015, OIGAX held 106 issues, with 1.78% of its assets invested in Continental AG (OTCPK:CTTAY).