OPPENHEIMER MULTIPLE STRATEGIES FUND
NSAR-A, 1997-05-30
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<PAGE>      PAGE  1
000 A000000 03/31/97
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020 A000002 CANTOR FITZGERALD & CO., INC.
020 B000002 95-1786286
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020 A000003 SALOMON BROTHERS, INC.
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020 C000003      7
020 A000004 GOLDMAN, SACHS & CO.
020 B000004 13-5108880
020 C000004      6
020 A000005 PAINEWEBBER, INC.
020 B000005 13-2638166
020 C000005      5
020 A000006 SCHRODER WERTHEIM & CO., INC.
020 B000006 13-2697272
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020 A000007 WARBURG, S.G. & CO., INC.
020 B000007 13-2994695
020 C000007      5
020 A000008 MERRILL LYNCH, PIERCE, FENNER & SMITH, INC.
020 B000008 13-5674085
020 C000008      5
020 A000009 NESBITT BURNS
020 B000009 13-2620737
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020 A000010 NATWEST SECURITIES CORP.
020 B000010 13-3341706
<PAGE>      PAGE  2
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022 B000008 13-3082694
022 C000008      5714
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022 A000009 DONALDSON, LUFKIN & JENRETTE SECURITIES CORP.
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022 A000010 BEAR STEARNS SECURITIES CORP.
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<PAGE>      PAGE  4
SIGNATURE   GEORGE C. BOWEN                              
TITLE       TREASURER           
 

WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.

<TABLE> <S> <C>

<ARTICLE> 6                       
<CIK>            729968
<NAME>           OPPENHEIMER MULTIPLE STRATEGIES FUND- A
       
<S>                                                                     <C>
<PERIOD-TYPE>                                                           6-MOS
<FISCAL-YEAR-END>                                                       SEP-30-1997
<PERIOD-START>                                                          OCT-01-1996
<PERIOD-END>                                                            MAR-31-1997
<INVESTMENTS-AT-COST>                                                                 269,612,873
<INVESTMENTS-AT-VALUE>                                                                317,212,491
<RECEIVABLES>                                                                           4,077,688
<ASSETS-OTHER>                                                                             14,811
<OTHER-ITEMS-ASSETS>                                                                      369,285
<TOTAL-ASSETS>                                                                        321,674,275
<PAYABLE-FOR-SECURITIES>                                                                4,104,446
<SENIOR-LONG-TERM-DEBT>                                                                         0
<OTHER-ITEMS-LIABILITIES>                                                               1,894,940
<TOTAL-LIABILITIES>                                                                     5,999,386
<SENIOR-EQUITY>                                                                                 0
<PAID-IN-CAPITAL-COMMON>                                                              254,197,900
<SHARES-COMMON-STOCK>                                                                  19,686,583
<SHARES-COMMON-PRIOR>                                                                  18,756,434
<ACCUMULATED-NII-CURRENT>                                                                 907,746
<OVERDISTRIBUTION-NII>                                                                          0
<ACCUMULATED-NET-GAINS>                                                                12,823,980
<OVERDISTRIBUTION-GAINS>                                                                        0
<ACCUM-APPREC-OR-DEPREC>                                                               47,745,263
<NET-ASSETS>                                                                          273,785,508
<DIVIDEND-INCOME>                                                                       1,148,856
<INTEREST-INCOME>                                                                       6,551,201
<OTHER-INCOME>                                                                                  0
<EXPENSES-NET>                                                                          1,946,799
<NET-INVESTMENT-INCOME>                                                                 5,753,258
<REALIZED-GAINS-CURRENT>                                                               13,568,278
<APPREC-INCREASE-CURRENT>                                                              (1,701,942)
<NET-CHANGE-FROM-OPS>                                                                  17,619,594
<EQUALIZATION>                                                                                  0
<DISTRIBUTIONS-OF-INCOME>                                                               4,929,024
<DISTRIBUTIONS-OF-GAINS>                                                               14,621,587
<DISTRIBUTIONS-OTHER>                                                                           0
<NUMBER-OF-SHARES-SOLD>                                                                   880,645
<NUMBER-OF-SHARES-REDEEMED>                                                             1,209,658
<SHARES-REINVESTED>                                                                     1,259,162
<NET-CHANGE-IN-ASSETS>                                                                 24,233,142
<ACCUMULATED-NII-PRIOR>                                                                   615,057
<ACCUMULATED-GAINS-PRIOR>                                                              15,672,173
<OVERDISTRIB-NII-PRIOR>                                                                         0
<OVERDIST-NET-GAINS-PRIOR>                                                                      0
<GROSS-ADVISORY-FEES>                                                                   1,145,109
<INTEREST-EXPENSE>                                                                              0
<GROSS-EXPENSE>                                                                         1,946,799
<AVERAGE-NET-ASSETS>                                                                  276,351,000
<PER-SHARE-NAV-BEGIN>                                                                          14.09
<PER-SHARE-NII>                                                                                 0.27
<PER-SHARE-GAIN-APPREC>                                                                         0.59
<PER-SHARE-DIVIDEND>                                                                            0.25
<PER-SHARE-DISTRIBUTIONS>                                                                       0.79
<RETURNS-OF-CAPITAL>                                                                            0.00
<PER-SHARE-NAV-END>                                                                            13.91
<EXPENSE-RATIO>                                                                                 1.16
<AVG-DEBT-OUTSTANDING>                                                                          0
<AVG-DEBT-PER-SHARE>                                                                            0.00
        

</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.

<TABLE> <S> <C>

<ARTICLE> 6                       
<CIK>            729968
<NAME>           OPPENHEIMER MULTIPLE STRATEGIES FUND- B
       
<S>                                                                     <C>
<PERIOD-TYPE>                                                           6-MOS
<FISCAL-YEAR-END>                                                       SEP-30-1997
<PERIOD-START>                                                          OCT-01-1996
<PERIOD-END>                                                            MAR-31-1997
<INVESTMENTS-AT-COST>                                                                 269,612,873
<INVESTMENTS-AT-VALUE>                                                                317,212,491
<RECEIVABLES>                                                                           4,077,688
<ASSETS-OTHER>                                                                             14,811
<OTHER-ITEMS-ASSETS>                                                                      369,285
<TOTAL-ASSETS>                                                                        321,674,275
<PAYABLE-FOR-SECURITIES>                                                                4,104,446
<SENIOR-LONG-TERM-DEBT>                                                                         0
<OTHER-ITEMS-LIABILITIES>                                                               1,894,940
<TOTAL-LIABILITIES>                                                                     5,999,386
<SENIOR-EQUITY>                                                                                 0
<PAID-IN-CAPITAL-COMMON>                                                              254,197,900
<SHARES-COMMON-STOCK>                                                                     812,445
<SHARES-COMMON-PRIOR>                                                                     428,130
<ACCUMULATED-NII-CURRENT>                                                                 907,746
<OVERDISTRIBUTION-NII>                                                                          0
<ACCUMULATED-NET-GAINS>                                                                12,823,980
<OVERDISTRIBUTION-GAINS>                                                                        0
<ACCUM-APPREC-OR-DEPREC>                                                               47,745,263
<NET-ASSETS>                                                                           11,216,777
<DIVIDEND-INCOME>                                                                       1,148,856
<INTEREST-INCOME>                                                                       6,551,201
<OTHER-INCOME>                                                                                  0
<EXPENSES-NET>                                                                          1,946,799
<NET-INVESTMENT-INCOME>                                                                 5,753,258
<REALIZED-GAINS-CURRENT>                                                               13,568,278
<APPREC-INCREASE-CURRENT>                                                              (1,701,942)
<NET-CHANGE-FROM-OPS>                                                                  17,619,594
<EQUALIZATION>                                                                                  0
<DISTRIBUTIONS-OF-INCOME>                                                                 136,475
<DISTRIBUTIONS-OF-GAINS>                                                                  435,849
<DISTRIBUTIONS-OTHER>                                                                           0
<NUMBER-OF-SHARES-SOLD>                                                                   393,736
<NUMBER-OF-SHARES-REDEEMED>                                                                45,123
<SHARES-REINVESTED>                                                                        35,702
<NET-CHANGE-IN-ASSETS>                                                                 24,233,142
<ACCUMULATED-NII-PRIOR>                                                                   615,057
<ACCUMULATED-GAINS-PRIOR>                                                              15,672,173
<OVERDISTRIB-NII-PRIOR>                                                                         0
<OVERDIST-NET-GAINS-PRIOR>                                                                      0
<GROSS-ADVISORY-FEES>                                                                   1,145,109
<INTEREST-EXPENSE>                                                                              0
<GROSS-EXPENSE>                                                                         1,946,799
<AVERAGE-NET-ASSETS>                                                                    8,457,000
<PER-SHARE-NAV-BEGIN>                                                                          14.01
<PER-SHARE-NII>                                                                                 0.21
<PER-SHARE-GAIN-APPREC>                                                                         0.57
<PER-SHARE-DIVIDEND>                                                                            0.20
<PER-SHARE-DISTRIBUTIONS>                                                                       0.79
<RETURNS-OF-CAPITAL>                                                                            0.00
<PER-SHARE-NAV-END>                                                                            13.81
<EXPENSE-RATIO>                                                                                 1.99
<AVG-DEBT-OUTSTANDING>                                                                          0
<AVG-DEBT-PER-SHARE>                                                                            0.00
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6                       
<CIK>            729968
<NAME>           OPPENHEIMER MULTIPLE STRATEGIES FUND- C
       
<S>                                                                     <C>
<PERIOD-TYPE>                                                           6-MOS
<FISCAL-YEAR-END>                                                       SEP-30-1997
<PERIOD-START>                                                          OCT-01-1996
<PERIOD-END>                                                            MAR-31-1997
<INVESTMENTS-AT-COST>                                                                 269,612,873
<INVESTMENTS-AT-VALUE>                                                                317,212,491
<RECEIVABLES>                                                                           4,077,688
<ASSETS-OTHER>                                                                             14,811
<OTHER-ITEMS-ASSETS>                                                                      369,285
<TOTAL-ASSETS>                                                                        321,674,275
<PAYABLE-FOR-SECURITIES>                                                                4,104,446
<SENIOR-LONG-TERM-DEBT>                                                                         0
<OTHER-ITEMS-LIABILITIES>                                                               1,894,940
<TOTAL-LIABILITIES>                                                                     5,999,386
<SENIOR-EQUITY>                                                                                 0
<PAID-IN-CAPITAL-COMMON>                                                              254,197,900
<SHARES-COMMON-STOCK>                                                                   2,217,474
<SHARES-COMMON-PRIOR>                                                                   1,503,813
<ACCUMULATED-NII-CURRENT>                                                                 907,746
<OVERDISTRIBUTION-NII>                                                                          0
<ACCUMULATED-NET-GAINS>                                                                12,823,980
<OVERDISTRIBUTION-GAINS>                                                                        0
<ACCUM-APPREC-OR-DEPREC>                                                               47,745,263
<NET-ASSETS>                                                                           30,672,604
<DIVIDEND-INCOME>                                                                       1,148,856
<INTEREST-INCOME>                                                                       6,551,201
<OTHER-INCOME>                                                                                  0
<EXPENSES-NET>                                                                          1,946,799
<NET-INVESTMENT-INCOME>                                                                 5,753,258
<REALIZED-GAINS-CURRENT>                                                               13,568,278
<APPREC-INCREASE-CURRENT>                                                              (1,701,942)
<NET-CHANGE-FROM-OPS>                                                                  17,619,594
<EQUALIZATION>                                                                                  0
<DISTRIBUTIONS-OF-INCOME>                                                                 395,070
<DISTRIBUTIONS-OF-GAINS>                                                                1,359,035
<DISTRIBUTIONS-OTHER>                                                                           0
<NUMBER-OF-SHARES-SOLD>                                                                   705,042
<NUMBER-OF-SHARES-REDEEMED>                                                               110,858
<SHARES-REINVESTED>                                                                       119,477
<NET-CHANGE-IN-ASSETS>                                                                 24,233,142
<ACCUMULATED-NII-PRIOR>                                                                   615,057
<ACCUMULATED-GAINS-PRIOR>                                                              15,672,173
<OVERDISTRIB-NII-PRIOR>                                                                         0
<OVERDIST-NET-GAINS-PRIOR>                                                                      0
<GROSS-ADVISORY-FEES>                                                                   1,145,109
<INTEREST-EXPENSE>                                                                              0
<GROSS-EXPENSE>                                                                         1,946,799
<AVERAGE-NET-ASSETS>                                                                   26,389,000
<PER-SHARE-NAV-BEGIN>                                                                          14.02
<PER-SHARE-NII>                                                                                 0.22
<PER-SHARE-GAIN-APPREC>                                                                         0.58
<PER-SHARE-DIVIDEND>                                                                            0.20
<PER-SHARE-DISTRIBUTIONS>                                                                       0.79
<RETURNS-OF-CAPITAL>                                                                            0.00
<PER-SHARE-NAV-END>                                                                            13.83
<EXPENSE-RATIO>                                                                                 1.98
<AVG-DEBT-OUTSTANDING>                                                                          0
<AVG-DEBT-PER-SHARE>                                                                            0.00
        

</TABLE>

<PAGE>

         SHAREHOLDER MEETING 
         On March 6, 1997, a special shareholder meeting was held at which
         the eleven Trustees identified below were elected, the selection of
         KPMG Peat Marwick LLP as the independent certified public accountants
         and auditors of the Fund for the fiscal year beginning October 1, 1996
         was ratified (Proposal No. 1), the proposed changes to certain of the 
         Fund's fundamental investment policies was approved (Proposal No. 2), 
         the proposed change in the Investment Advisory Agreement between the 
         Fund and OppenheimerFunds, Inc. was approved (Proposal No. 3), the 
         Fund's Class B 12b-1 Distribution and Service Plan was approved by 
         Class B shareholders (Proposal No. 4), and the Fund's Class C 12b-1 
         Distribution and Service Plan was approved by Class C shareholders  
         (Proposal No. 5) as described in the Fund's proxy statement for that 
         meeting. The following is a report of the votes cast:
<TABLE>
<CAPTION>

                                                                                  Broker 
     Nominee/Proposal          For               Against       Withheld/Abstain   Non-Votes     Total
     ----------------          ---               -------       ----------------   ---------     -----
     TRUSTEES
<S>                            <C>               <C>           <C>                <C>           <C>         
     Robert G. Galli           11,253,871.448    246,747.379                        558,388     11,500,618.827
     Leon Levy                 11,203,229.913    297,388.914                        558,388     11,500,618.827
     Benjamin Lipstein         11,197,133.782    303,485.045                        558,388     11,500,618.827
     Bridget A. Macaskill      11,256,812.337    243,806.490                        558,388     11,500,618.827
     Elizabeth Moynihan        11,241,337.324    259,281.503                        558,388     11,500,618.827
     Kenneth A. Randall        11,273,072.084    227,546.743                        558,388     11,500,618.827
     Edward V. Regan           11,273,698.840    226,919.987                        558,388     11,500,618.827
     Russell S. Reynolds, Jr.  11,255,535.799    245,083.028                        558,388     11,500,618.827
     Donald W. Spiro           11,224,018.248    276,600.579                        558,388     11,500,618.827
     Pauline Trigere           11,177,490.513    323,128.314                        558,388     11,500,618.827
     Clayton K. Yeutter        11,240,495.627    260,123.200                        558,388     11,500,618.827
     Proposal No. 1            10,852,678.097    111,936.414   545,000.862          558,388     11,509,615.373
     Proposal No. 2             9,183,461.857    412,290.120   863,922.725        1,779,281     10,459,674.702
     Proposal No. 3            10,308,932.225    295,359.382   904,804.998          558,388     11,509,096.605
     Proposal No. 4               324,274.123      6,197.510    12,654.165           15,827        343,125.798
     Proposal No. 5               883,841.782     30,674.191    62,486.495           61,410        927,002.468
</TABLE>








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