Fund Description

The fund was incepted in March 1996 and is managed by Oppenheimer Funds Group. The fund seeks long-term capital appreciation. The fund invests mainly in common stocks of growth companies that are domiciled outside the United States or have their primary operations outside the U.S. 'Growth companies' are issuers that the fund's portfolio manager believes have favorable long-term growth prospects. The fund can invest in emerging markets as well as developed markets throughout the world, although it may place greater emphasis on investing in one or more particular regions from time to time, such as Asia, Europe or Latin America. The fund can invest 100% of its assets in foreign securities. The fund invests at least 65% of its total assets in foreign common and preferred stock of issuers in at least three different countries outside the United States. The fund offers dividends and capital gains, if any, annually in December.