<PAGE>
[GRAPHIC]
Annual Report September 30, 2000
Oppenheimer
Global Fund
[LOGO OF OPPENHEIMER FUNDS]
<PAGE>
REPORT HIGHLIGHTS
The Fund's strong performance can be credited to our focus on companies
benefiting from key worldwide growth trends.
Shifts in investor sentiment led the Fund to take a more defensive posture.
The launch of the euro fueled a wave of restructuring that's making European
companies more competitive and shareholder-friendly.
CONTENTS
1 President's Letter
3 An Interview
with Your Fund's
Manager
7 Fund Performance
12 Financial
Statements
34 Independent
Auditors' Report
35 Federal
Income Tax
Information
36 Officers and Trustees
---------------------------
Average Annual
Total Returns*
For the 1-Year Period
Ended 9/30/00
Class A
Without With
Sales Chg. Sales Chg.
---------------------------
47.13% 38.67%
Class B
Without With
Sales Chg. Sales Chg.
---------------------------
46.01% 41.01%
Class C
Without With
Sales Chg. Sales Chg.
---------------------------
46.01% 45.01%
Class Y
---------------------------
47.63%
---------------------------
*See Notes on page 10 for further details.
<PAGE>
PRESIDENT'S LETTER
Dear Shareholder,
[PHOTO OF BRIDGET A. MACASKILL]
Bridget A. Macaskill
President Oppenheimer Global Fund
Over the past several decades, our investment teams have learned the importance
of avoiding complacency when it comes to navigating the financial
markets--especially when times are good. Right now, times appear particularly
good. The U.S. economy is in its tenth year of expansion. In the bond market,
U.S. Treasury issues have been performing favorably over the past year. In
addition, despite volatility in the second quarter, the stock market has been
providing attractive returns from a wide spectrum of industry sectors,
capitalization ranges and investment styles.
We have arrived at this juncture after months of monitoring the rapid pace
of global economic growth and its implications for inflation, as well as the
Federal Reserve Board's evolving monetary policy. At this point, economic
indicators suggest a dampening of short-term inflationary pressures. While
recent increases in oil prices are certainly taking their toll, we don't believe
this signals a return to 1970's-style inflation. Accordingly, if the Fed
continues in its diligence, the economy could maintain its healthy rate of
growth.
In the bond market, the achievement of a federal budget surplus has
prompted the Treasury to buy back many of its long-term securities. The
resulting supply shortage boosted these securities' returns, causing an
inversion of the yield curve--an unusual situation in which shorter term
Treasuries yield more than their longer term counterparts. Other bond sectors
are offering many opportunities in the form of attractive valuations.
Perhaps most important is that we have begun to see encouraging signs in
the stock market. Formerly high-flying Internet stocks have generally come down
to earth, and investors have begun to refocus on companies with strong business
fundamentals and justifiable valuations. Investors have also returned to
long-neglected, value-oriented companies.
1 OPPENHEIMER GLOBAL FUND
<PAGE>
PRESIDENT'S LETTER
What else do these various trends tell us? They tell us that the ability to
discriminate between long-term potential and short-lived fads has become more
critical than ever. Trying to generate good long-term performance requires
tracking the best companies through intensive research, combined with
hard-earned experience.
At OppenheimerFunds, our seasoned portfolio management teams fight
complacency by remaining constantly aware of the risks that face the economy and
financial markets. Virtually anything could affect the overall markets--a surge
in inflation, a decline in productivity, deteriorating corporate earnings, or
even the new Administration's proposals regarding tax reform, health-care and
Social Security. However, by remaining vigilant in our quest for fundamentally
sound businesses, we believe we can find good investments that can weather
market volatility.
In this environment, we encourage you to consult your financial advisor and
to stay on track with your long-term financial plan. For our part, we will
continue to monitor the opportunities and risks ever present in the financial
markets. Thank you for your confidence in OppenheimerFunds, The Right Way to
Invest.
Sincerely,
/s/ Bridget A. Macaskill
Bridget A. Macaskill
October 20, 2000
These general market views represent opinions of OppenheimerFunds, Inc. and are
not intended to predict or depict performance of the securities markets or any
particular fund. Specific discussion, as it applies to your Fund, is contained
in the pages that follow. Stocks and bonds have different types of investment
risks; stocks are subject to market volatility and bonds are subject to credit
and interest rate risks.
2 OPPENHEIMER GLOBAL FUND
<PAGE>
AN INTERVIEW WITH YOUR FUND'S MANAGER
[PHOTO]
Portfolio Management Team (l to r)
Frank Jennings William Wilby (Portfolio
Manager) George Evans
How did Oppenheimer Global Fund perform during the 12 months that ended
September 30, 2000?
A. We're very pleased with the performance of Oppenheimer Global Fund over the
past fiscal year. The Fund's Class A shares were awarded a 5-star (*****) rating
overall by Morningstar for the combined 3-, 5- and 10-year periods ended
September 30, 2000, among 1,175, 730 and 146 international equity funds,
respectively./1/
How did you achieve this strong performance?
We attribute the Fund's performance to our investment approach, which focuses on
individual companies that, in our view, stand to benefit from one or more key
worldwide growth trends. The four themes we've identified are new technologies,
mass affluence, restructuring and aging populations. Using these themes as a
starting point, we then employ rigorous fundamental research to uncover
companies with the potential to deliver earnings growth and stock price
appreciation in nearly any type of market.
What events characterized global markets during the period?
Interestingly enough, the past 12 months witnessed virtually every type of
market. For example, the first six months of the period were very positive for
U.S. and foreign markets, even though the monumental gains were mostly driven by
a narrow group of technology and telecommunications stocks. Toward
1. Morningstar, Inc. rates mutual funds in broad investment classes, based on
risk adjusted returns after considering sales charges and expenses. Return and
risk are measured as performance above and below 90-day U.S. Treasury bill
returns, respectively. Overall star rating is based on the weighted average of
3-, 5- and 10-year ratings for a fund or class and are subject to change
monthly. Top 10%: 5 stars. Next 22.5%: 4 stars. Middle 35%: 3 stars. Next 22.5%:
2 stars. Bottom 10%: 1 star. The Fund's Class A shares are rated 5 stars
(3-year), 5 stars (5-year) and 5 stars (10-year) among 1175, 730 and 146
international equity funds, respectively for the periods ended 9/30/00.
3 OPPENHEIMER GLOBAL FUND
<PAGE>
AN INTERVIEW WITH YOUR FUND'S MANAGER
"Regardless of global market conditions, we believe there are virtually always
opportunities to buy great companies."
the end of March, however, investor sentiment began to shift. Concerns over the
high valuations of "new economy" stocks and continued monetary tightening in the
U.S. unleashed a torrent of selling, at times seemingly indiscriminate,
resulting in several broad market downturns. From time to time, it looked as
though "old economy" stocks would lead a recovery. Yet, for much of the next six
months, global markets settled into a holding pattern, appearing to have no
clear direction.
The past six months also saw a dramatic strengthening of the U.S. dollar
against many foreign currencies, particularly the euro--the currency of the
European Monetary Union. Despite healthy economic fundamentals throughout much
of Europe, the weaker currency resulted in massive capital outflows into the
United States, which investors believed offered higher return potential. The
irony is that this weakness may have actually benefited European companies that
export to the United States, allowing them to realize substantial gains from
revenue generated in U.S. dollars. In fact, several of our top holdings profited
from this development.
How did the Fund's top holdings fare?
German automobile manufacturer Porsche AG demonstrated the impact of widening
mass affluence, as well as the upside of the currency situation. Sales growth
has been impressive for this premier brand, which commands premium prices for
its high-performance cars.
As corporate restructuring continues to grow as a powerful force overseas,
companies are placing new emphasis on shareholder interests. One that reaped
rewards was Reckitt Benckiser plc, a leading household products concern formed
by the 1999 merger of U.K.-based Reckitt & Colman and the Dutch company
Benckiser NV. This stock was added to the portfolio earlier in the year in an
attempt to position the Fund more defensively,
4 OPPENHEIMER GLOBAL FUND
<PAGE>
---------------------------------
Average Annual
Total Returns
For the Periods Ended 9/30/00/2/
Class A
1-Year 5-Year 10-Year
38.67% 21.32% 16.91%
---------------------------------
Class B Since
1-Year 5-Year Inception
---------------------------------
41.01% 21.62% 19.64%
Class C Since
1-Year 5-Year Inception
---------------------------------
45.01% N/A 21.88%
Class Y Since
1-Year 5-Year Inception
---------------------------------
47.63% N/A 40.02%
---------------------------------
and has since become one of our top positions. With increased demand for
consumer goods from recovering emerging market economies, Reckitt Benckiser
appears poised for further growth.
Although Japan remains mired in recession, we've invested selectively,
focusing our purchases there in the new technologies theme. Toshiba Corp., a
leading maker of laptop computers and electronic components, was one of our
strongest performers for the period. The phenomenal growth of miniaturized
handheld products, such as Web-enabled phones and personal digital assistants,
has encountered severe component shortages around the world. Toshiba stepped up
production to capitalize on these shortages, which proved favorable for its
stock. In contrast, the Fund was hurt during July by a decline in semiconductor
stocks, particularly U.S.-based National Semiconductor Corp. Despite the
cyclical nature of the semiconductor industry, we remain optimistic about this
company's prospects and used the dip to add to our holdings.
As always, please keep in mind that investing in foreign securities entails
additional expenses and risks including foreign currency fluctuations.
What do you foresee for world markets in the coming months?
Regardless of market conditions, we believe there are virtually always
opportunities to buy great companies. However, from a market standpoint, our
outlook for the United States is unclear at this time because of the upcoming
election. On the other hand, we remain optimistic regarding international
markets. In our view, the signs are quite compelling. For example, both Europe
and Japan have close to a two-year advantage over the United States in the area
of mobile Internet penetration. The proliferation of luxury goods overseas
continues to offer unique possibilities. Despite its current weakness, the euro
since its
2. See page 10 for further details.
5 OPPENHEIMER GLOBAL FUND
<PAGE>
AN INTERVIEW WITH YOUR FUND'S MANAGER
Regional Allocation/3/
[GRAPH]
United States/Canada 49.4%
Europe 36.8
Asia 10.1
Latin America 3.7
launch has brought about a wave of restructuring that's making European
companies more competitive and shareholder-friendly. Finally, there's a growing
equity culture overseas, particularly in Europe and Japan, as investors seek the
returns they need to meet their long-term goals. Exploring the world over for
these opportunities is an important reason why Oppenheimer Global Fund is part
of The Right Way to Invest.
Top Ten Largest Country Holdings/3/
United States 47.3%
Great Britain 14.7
France 8.5
Germany 7.6
Japan 6.4
Brazil 2.4
Canada 2.1
Ireland 1.7
The Netherlands 1.5
Australia 1.1
Top Ten Common Stock Holdings/4/
Cadence Design Systems, Inc. 4.4%
Porsche AG, Preference 2.9
Reckitt Benckiser plc 2.4
National Semiconductor Corp. 2.2
Fresenius AG, Preference 2.2
Reed International plc 2.0
Alcatel SA 1.9
MBNA Corp. 1.8
Toshiba Corp. 1.8
Gilead Sciences, Inc. 1.8
3. Portfolio is subject to change. Percentages are as of September 30, 2000, and
are based on total market value of investments.
4. Portfolio is subject to change. Percentages are as of September 30, 2000, and
are based on net assets.
6 OPPENHEIMER GLOBAL FUND
<PAGE>
FUND PERFORMANCE
How has the Fund performed? Below is a discussion by OppenheimerFunds, Inc. of
the Fund's performance during its fiscal year ended September 30, 2000, followed
by a graphical comparison of the Fund's performance to an appropriate
broad-based market index.
Management's discussion of performance. During the fiscal year that ended
September 30, 2000, Oppenheimer Global Fund delivered strong performance,
reflecting the influence of several worldwide growth trends. Overall, the period
proved positive for U.S. and foreign markets, although the latter half was
characterized by extreme volatility. Global markets, initially driven by a
narrow group of "new economy" stocks, retreated dramatically from 1999's
"dot-com" euphoria. Although seemingly justified in many cases, the intense
selling at times appeared indiscriminate, resulting in broad market downturns.
Against this backdrop, the Manager emphasized high-quality, well-established
technology and telecommunications companies, using market declines as an
opportunity to add to the Fund's most compelling holdings at more attractive
valuations. An effort to position the Fund more defensively was also undertaken,
with a moderate reallocation of assets into the household goods sector. The
Fund's portfolio holdings, allocations and strategies are subject to change.
Comparing the Fund's performance to the market. The graphs that follow show the
performance of a hypothetical $10,000 investment in Class A, Class B and Class C
shares of the Fund held until September 30, 2000. In the case of Class A shares,
performance is measured over a ten-year period. In the case of Class B shares,
performance is measured from the inception of the class on August 17, 1993.
Because Class B shares convert to Class A shares 72 months after purchase, the
"since inception" return for Class B uses Class A performance for the period
after conversion. In the case of Class C shares, performance is measured from
the inception of the class on October 2, 1995; in the case of Class Y shares,
since inception of the class on November 17, 1998. The Fund's performance
reflects the deduction of the maximum initial sales charge on Class A shares,
the applicable contingent deferred sales charge for Class B and Class C shares,
and reinvestments of all dividends and capital gains distributions. The Fund's
performance is compared to the performance of the Morgan Stanley Capital
International (MSCI) World Index, an unmanaged index of issuers listed on the
stock exchanges of 20 foreign countries and the United States. It is widely
recognized as a measure of global stock market performance. Index performance
reflects the reinvestment of dividends but does not consider the effect of
capital gains or transaction costs, and none of the data in the graphs that
follow shows the effect of taxes. The Fund's performance reflects the effects of
Fund business and operating expenses. While index comparisons may be useful to
provide a benchmark for the Fund's performance, it must be noted that the Fund's
investments are not limited to the securities or countries in the index.
7 OPPENHEIMER GLOBAL FUND
<PAGE>
FUND PERFORMANCE
Class A Shares
Comparison of Change in Value of $10,000 Hypothetical Investments in:
Morgan Stanley
Oppenheimer Global Capital International
Fund (Class A) (MSCI) World Index
9/30/90 9,425 10,000
12/31/90 9,819 10,985
3/31/91 10,674 12,081
6/30/91 10,277 11,688
9/30/91 11,660 12,528
12/31/91 12,506 13,069
3/31/92 11,736 12,018
6/30/92 11,677 12,253
9/30/92 11,160 12,474
12/31/92 10,730 12,460
3/31/93 11,150 13,547
6/30/93 11,708 14,387
9/30/93 13,133 15,080
12/31/93 15,304 15,342
3/31/94 14,910 15,454
6/30/94 14,731 15,937
9/30/94 15,653 16,298
12/31/94 14,829 16,198
3/31/95 15,112 16,978
6/30/95 16,157 17,724
9/30/95 17,104 18,737
12/31/95 17,288 19,651
3/31/96 18,136 20,475
6/30/96 18,864 21,091
9/30/96 19,325 21,398
12/31/96 20,317 22,402
3/31/97 21,192 22,490
6/30/97 23,685 25,902
9/30/97 25,674 26,668
12/31/97 24,750 26,037
3/31/98 27,527 29,793
6/30/98 27,926 30,425
9/30/98 23,145 26,804
12/31/98 27,895 32,493
3/31/99 28,936 33,681
6/30/99 31,791 35,317
9/30/99 32,413 34,822
12/31/99 44,207 40,726
3/31/2000 50,151 41,173
6/30/2000 48,518 39,743
9/30/2000 47,691 37,774
Average Annual Total Return of Class A Shares of the Fund at 9/30/00/1/
1-Year 38.67% 5-Year 21.32% 10-Year 16.91%
Class B Shares
Comparison of Change in Value of $10,000 Hypothetical Investments in:
Morgan Stanley
Oppenheimer Global Capital International
Fund (Class B) (MSCI) World Index
8/17/93 10,000 10,000
9/30/93 10,364 9,817
12/31/93 12,051 9,987
3/31/94 11,716 10,060
6/30/94 11,546 10,374
9/30/94 12,241 10,609
12/31/94 11,570 10,545
3/31/95 11,768 11,052
6/30/95 12,553 11,538
9/30/95 13,261 12,197
12/31/95 13,379 12,793
3/31/96 14,006 13,328
6/30/96 14,539 13,730
9/30/96 14,862 13,929
12/31/96 15,592 14,583
3/31/97 16,230 14,641
6/30/97 18,104 16,861
9/30/97 19,583 17,360
12/31/97 18,839 16,949
3/31/98 20,909 19,394
6/30/98 21,181 19,806
9/30/98 17,515 17,449
12/31/98 21,068 21,152
3/31/99 21,817 21,925
6/30/99 23,920 22,990
9/30/99 24,369 22,668
12/31/99 33,236 26,512
3/31/2000 37,705 26,803
6/30/2000 36,477 25,872
9/30/2000 35,856 24,590
Average Annual Total Return of Class B Shares of the Fund at 9/30/00/1/
1-Year 41.01% 5-Year 21.62% Life 19.64%
1. See page 10 for further details.
8 OPPENHEIMER GLOBAL FUND
<PAGE>
Class C Shares
Comparison of Change in Value of $10,000 Hypothetical Investments in:
Morgan Stanley
Oppenheimer Global Capital International
Fund (Class C) (MSCI) World Index
10/2/95 10,000 10,000
12/31/95 10,117 10,488
3/31/96 10,587 10,927
6/30/96 10,990 11,257
9/30/96 11,234 11,420
12/31/96 11,785 11,956
3/31/97 12,267 12,003
6/30/97 13,685 13,824
9/30/97 14,801 14,233
12/31/97 14,241 13,896
3/31/98 15,807 15,900
6/30/98 16,007 16,238
9/30/98 13,242 14,305
12/31/98 15,927 17,341
3/31/99 16,491 17,975
6/30/99 18,080 18,849
9/30/99 18,402 18,584
12/31/99 25,049 21,736
3/31/2000 28,363 21,974
6/30/2000 27,383 21,211
9/30/2000 26,870 20,160
Average Annual Total Return of Class C Shares of the Fund at 9/30/00/1/
1 Year 45.01% Life 21.88%
Class Y Shares
Comparison of Change in Value of $10,000 Hypothetical Investments in:
Morgan Stanley
Oppenheimer Global Capital International
Fund (Class Y) (MSCI) World Index
11/17/98 10,000 10,000
12/31/98 10,907 10,490
3/31/99 11,328 10,874
6/30/99 12,454 11,402
9/30/99 12,710 11,242
12/31/99 17,353 13,148
3/31/2000 19,701 13,293
6/30/2000 19,075 12,831
9/30/2000 18,764 12,195
Average Annual Total Return of Class Y Shares of the Fund at 9/30/00/1/
1-Year 47.63% Life 40.02%
The performance information for MSCI World Index in the graphs begins on 9/30/90
for Class A, 8/31/93 for Class B, 9/30/95 for Class C and 11/30/98 for Class Y.
Past performance is not predictive of future performance. Graphs are not drawn
to the same scale.
9 OPPENHEIMER GLOBAL FUND
<PAGE>
NOTES
In reviewing performance and rankings, please remember that past performance
does not guarantee future results. Investment return and principal value of an
investment in the Fund will fluctuate so that an investor's shares, when
redeemed, may be worth more or less than the original cost. The Fund's returns
at 9/30/00 include results for periods of exceptional market performance that is
not typical of historical results. You should not expect those growth rates to
continue. Because of ongoing market volatility, the Fund's performance has been
subject to substantial short-term fluctuations and current performance may be
less than the results shown. For quarterly updates on the Fund's performance,
please contact your financial advisor, call us at 1.800.525.7048 or visit our
website at www.oppenheimerfunds.com.
Total returns and the ending account values in the graphs include changes in
share price and reinvestment of dividends and capital gains distributions in a
hypothetical investment for the periods shown. The Fund's total returns shown do
not show the effects of income taxes on an individual's investment. Taxes may
reduce your actual investment returns on income or gains paid by the Fund or any
gains you may realize if you sell your shares.
Class A shares were first publicly offered on 12/22/69. Unless otherwise noted,
Class A returns include the current maximum initial sales charge of 5.75%.
Class B shares of the Fund were first publicly offered on 8/17/93. Unless
otherwise noted, Class B returns include the applicable contingent deferred
sales charge of 5% (1-year) and 2% (5-year). Because Class B shares convert to
Class A shares 72 months after purchase, the "since inception" return for Class
B uses Class A performance for the period after conversion. Class B shares are
subject to an annual 0.75% asset-based sales charge.
Class C shares of the Fund were first publicly offered on 10/2/95. Unless
otherwise noted, Class C returns include the contingent deferred sales charge of
1% for the 1-year period. Class C shares are subject to an annual 0.75% asset-
based sales charge.
Class Y shares of the Fund were first publicly offered on 11/17/98. Class Y
shares are offered only to certain institutional investors under special
agreement with the Distributor.
An explanation of the calculation of performance is in the Fund's Statement of
Additional Information.
10 OPPENHEIMER GLOBAL FUND
<PAGE>
Financials
11 OPPENHEIMER GLOBAL FUND
<PAGE>
STATEMENT OF INVESTMENTS September 30, 2000
<TABLE>
<CAPTION>
Market Value
Shares See Note 1
<S> <C> <C>
Common Stocks--88.8%
Basic Materials--0.8%
Chemicals--0.8%
International Flavors & Fragrances, Inc. 3,995,470 $ 72,917,327
Capital Goods--7.1%
Electrical Equipment--1.8%
Toshiba Corp. 19,280,500 155,407,325
Industrial Services--2.8%
Manpower, Inc. 2,495,000 79,684,062
Rentokil Initial plc 40,924,500 91,819,181
WPP Group plc 6,342,200 75,953,237
--------------
247,456,480
Manufacturing--2.5%
Sanmina Corp./1/ 374,000 35,015,750
Sidel SA 1,055,794 60,190,288
Societe BIC SA 2,291,765 85,692,589
Solectron Corp./1/ 896,500 41,351,063
--------------
222,249,690
Communication Services--4.6%
Telecommunications-Long Distance--1.0%
Elisa Communications, Oyj 979,300 34,992,764
WorldCom, Inc./1/ 1,628,650 49,470,244
--------------
84,463,008
Telephone Utilities--1.3%
Tele Norte Leste Participacoes SA (Telemar), 5,024,676,144 114,110,531
Preference
Telecommunications-Wireless--2.3%
NTT Docomo, Inc. 2,658 76,252,082
Telecom Italia Mobile SpA 8,041,500 65,005,074
Telesp Celular Participacoes SA, ADR 1,959,100 64,527,856
--------------
205,785,012
Consumer Cyclicals--10.1%
Autos & Housing--3.8%
Hanson plc 13,409,366 74,743,069
Porsche AG, Preference 70,536 255,216,883
--------------
329,959,952
</TABLE>
12 OPPENHEIMER GLOBAL FUND
<PAGE>
<TABLE>
<CAPTION>
Market Value
Shares See Note 1
<S> <C>
Leisure & Entertainment--2.4%
Hasbro, Inc. 3,800,100 $ 43,463,644
Hilton Group plc 12,477,700 35,789,663
International Game Technology/1/ 2,354,900 79,183,513
Peninsular & Oriental Steam Navigation Co. 6,350,424 55,865,157
-------------
214,301,977
Media--2.9%
Reed International plc 21,643,995 171,843,474
Singapore Press Holdings Ltd. 5,667,000 84,990,346
-------------
256,833,820
Retail: Specialty--1.0%
Circuit City Stores-Circuit City Group 3,708,000 85,284,000
Consumer Staples--9.2%
Beverages--2.5%
Bass plc 13,206,342 129,845,086
Cadbury Schweppes plc 14,369,300 84,980,041
-------------
214,825,127
Broadcasting--2.7%
Canal Plus 307,880 46,108,186
Grupo Televisa SA, Sponsored GDR/1/ 1,507,100 86,940,831
ProSieben Media AG, Preference 295,345 33,753,134
Societe Television Francaise/1/ 591,620 33,936,802
Television Broadcasts Ltd. 6,587,600 39,541,315
-------------
240,280,268
Household Goods--4.0%
Reckitt Benckiser plc 17,150,264 209,572,841
Wella AG, Preference, Non-Vtg. 3,859,510 137,092,208
-------------
346,665,049
Energy--2.6%
Oil: International--2.6%
BP Amoco plc, ADR 1,789,234 94,829,402
Husky Energy, Inc.1 4,872,465 45,175,387
Royal Dutch Petroleum Co., NY Shares 1,439,600 86,286,025
-------------
226,290,814
</TABLE>
13 OPPENHEIMER GLOBAL FUND
<PAGE>
STATEMENT OF INVESTMENTS Continued
<TABLE>
<CAPTION>
Market Value
Shares See Note 1
<S> <C> <C>
Financial--15.2%
Banks--4.4%
Australia & New Zealand Banking Group Ltd. 13,023,900 $ 93,673,724
Bank One Corp. 3,172,100 122,522,363
DePfa Deutsche Pfandbriefbank AG (DePfa-Bank) 464,800 37,121,833
Royal Bank of Scotland Group plc (The) 6,433,500 135,830,358
-------------
389,148,278
Diversified Financial--7.9%
American Express Co. 1,202,400 73,045,800
Citigroup, Inc. 1,620,133 87,588,440
Credit Saison Co. Ltd. 2,627,000 57,129,835
Fannie Mae 2,023,700 144,694,550
Housing Development Finance Corp. Ltd. 400 3,783
ICICI Ltd., Sponsored ADR 5,149,700 56,646,700
Lehman Brothers Holdings, Inc. 773,200 114,240,300
MBNA Corp. 4,197,200 161,592,200
-------------
694,941,608
Insurance--2.9%
Allied Zurich plc 8,158,500 92,759,413
American International Group, Inc. 1,200,237 114,847,678
AXA SA 367,200 47,959,992
-------------
255,567,083
Healthcare--16.5%
Healthcare/Drugs--12.5%
ALZA Corp., Cl. A1 1,159,700 100,314,050
American Home Products Corp. 1,664,500 94,148,281
Amgen, Inc./1/ 1,212,400 84,659,619
Eisai Co. Ltd. 2,967,000 93,628,262
Elan Corp. plc, ADR/1/ 2,703,600 148,022,100
Genset, Sponsored ADR/1/ 1,428,300 39,278,250
Gilead Sciences, Inc./1/ 1,413,500 155,043,281
Human Genome Sciences, Inc./1/ 453,300 78,477,563
Millennium Pharmaceuticals, Inc./1/ 340,100 49,675,856
Oxford GlycoSciences plc/1/ 546,500 18,454,726
Pfizer, Inc. 1,214,300 54,567,606
Sanofi-Synthelabo SA 2,768,800 148,807,080
Serono SA, Cl. B 29,180 35,622,425
-------------
1,100,699,099
</TABLE>
14 OPPENHEIMER GLOBAL FUND
<PAGE>
<TABLE>
<CAPTION>
Market Value
Shares See Note 1
<S> <C> <C>
Healthcare/Supplies & Services--4.0%
Affymetrix, Inc./1/ 585,000 $ 29,176,875
Bard (C.R.), Inc. 1,987,600 83,976,100
Fresenius AG, Preference 772,796 192,321,878
Quintiles Transnational Corp./1/ 1,026,900 16,366,219
Swiss Medical SA/1/,/2/,/3/ 300,000 27,573,000
--------------
349,414,072
Technology--20.8%
Computer Hardware--1.7%
International Business Machines Corp. 782,800 88,065,000
Sun Microsystems, Inc./1/ 549,400 64,142,450
--------------
152,207,450
Computer Services--1.0%
Cap Gemini SA 480,100 90,245,598
Computer Software--8.0%
America Online, Inc./1/ 1,687,300 90,692,375
Cadence Design Systems, Inc./1/,/2/ 14,875,040 382,102,590
Intuit, Inc./1/ 639,700 36,462,900
Oracle Corp./1/ 1,172,600 92,342,250
Sybase, Inc./1/ 4,348,700 100,020,100
--------------
701,620,215
Communications Equipment--4.8%
Alcatel SA 2,650,200 169,563,110
L.M. Ericsson Telephone Co. ADR, Cl. B 4,149,900 61,470,394
Nokia Corp., A Shares, Sponsored ADR 1,063,400 42,336,613
QUALCOMM, Inc./1/ 1,245,500 88,741,875
Scientific-Atlanta, Inc. 909,400 57,860,575
--------------
419,972,567
Electronics--5.3%
Hirose Electric Co. 500,565 65,315,255
Koninlijke (Royal) Philips Electronics NV 1,016,832 43,763,967
Kyocera Corp. 489,000 74,666,852
National Semiconductor Corp./1/ 4,829,400 194,383,350
Nikon Corp. 1,525,000 30,765,316
Samsung Electronics Co. 208,437 37,756,601
STMicroelectronics NV, NY Registered Shares 388,600 18,507,075
--------------
465,158,416
</TABLE>
15 OPPENHEIMER GLOBAL FUND
<PAGE>
STATEMENT OF INVESTMENTS Continued
<TABLE>
<CAPTION>
Market Value
Shares See Note 1
<S> <C> <C>
Transportation--1.9%
Air Transportation--1.9%
Bombardier, Inc., Cl. B 7,993,600 $ 138,132,128
Empresa Brasileira de Aeronautica SA (Embraer), ADR 885,600 27,453,600
--------------
165,585,728
--------------
Total Common Stocks (Cost $5,898,886,812) 7,801,390,494
Units
Rights, Warrants and Certificates--0.0%
Telesp Celular Participacoes SA Rts., Exp. 10/2/00 195,910 --
(Cost $0)
Principal
Amount
Short-Term Notes--8.3%
American Express Credit Corp., 6.49%, 10/2/00 $ 50,000,000 49,990,833
American Home Products:
6.50%, 11/7/00 30,000,000 29,799,583
6.50%, 11/8/00 30,000,000 29,794,167
American Honda Finance Corp., 6.49%, 10/11/00 41,380,000 41,305,401
Bear Stearns Cos., Inc., 6.49%, 10/18/00 50,000,000 49,846,764
CIESCO LP:
6.49%, 10/24/00 24,000,000 23,900,487
6.49%, 10/27/00 32,000,000 31,850,009
CIT Group, Inc., 6.49%, 10/2/00 25,000,000 24,995,493
Corporate Asset Corp., 6.50%, 10/11/00 25,000,000 24,954,861
Countrywide Home Loans, 6.54%, 11/3/00 50,000,000 49,700,250
GE Capital International Funding, Inc., 6.51%, 50,000,000 49,864,375
10/16/00
General Motors Acceptance Corp., 6.49%, 10/18/00 50,000,000 49,846,764
Goldman Sachs Group LP, 6.49%, 11/16/00 50,000,000 49,585,361
Heller Financial, Inc., 6.60%, 10/3/00 25,000,000 24,990,833
Household Finance Corp.:
6.50%, 10/26/00 50,000,000 49,774,306
6.51%, 10/13/00 50,000,000 49,891,500
Lucent Technologies, Inc., 6.50%, 10/20/00 50,000,000 49,828,472
Salomon Smith Barney Holdings, Inc., 6.50%, 11/1/00 50,000,000 49,720,139
--------------
Total Short-Term Notes (Cost $729,639,598) 729,639,598
</TABLE>
16 OPPENHEIMER GLOBAL FUND
<PAGE>
<TABLE>
<CAPTION>
Principal Market Value
Amount See Note 1
<S> <C> <C>
Repurchase Agreements--1.5%
Repurchase agreement with Banc One Capital Markets, Inc.,
6.45%,
dated 9/29/00, to be repurchased at $129,856,761 on 10/2/00,
collateralized by U.S. Treasury Bonds, 5.25%-15.75%,
11/15/01-5/15/30, with a value of $55,334,045, U.S.
Treasury Nts.,
4.25%-8.50%, 11/15/00-11/15/08, with a value of $77,156,970
and U.S. Treasury Bills, 11/9/00, with a value of $26,589 $ 129,787,000 $ 129,787,000
(Cost $129,787,000)
Total Investments, at Value (Cost $6,758,313,410) 98.6% 8,660,817,092
Other Assets Net of Liabilities 1.4 121,615,230
----------------------------------
Net Assets 100.0% $ 8,782,432,322
==================================
</TABLE>
Footnotes to Statement of Investments
1. Non-income-producing security.
2. Affiliated company. Represents ownership of at least 5% of the voting
securities of the issuer, and is or was an affiliate, as defined in the
Investment Company Act of 1940, at or during the period ended September 30,
2000. The aggregate fair value of securities of affiliated companies held by the
Fund as of September 30, 2000 amounts to $409,675,590. Transactions during the
period in which the issuer was an affiliate are as follows:
<TABLE>
<CAPTION>
Shares Gross Gross Shares
September 30, 1999 Additions Reductions September 30, 2000
<S> <C> <C> <C>
Cadence Design Systems, Inc. 5,565,100 9,309,940 -- 14,875,040
Swiss Medical SA 300,000 -- -- 300,000
</TABLE>
3. Identifies issues considered to be illiquid or restricted--See Note 6 of
Notes to Financial Statements.
Distribution of investments representing geographic diversification, as a
percentage of total investments at value, is as follows:
<TABLE>
<CAPTION>
Geographical Diversification Market Value Percent
<S> <C> <C>
United States $ 4,105,546,448 47.3%
Great Britain 1,272,285,647 14.7
France 740,288,970 8.5
Germany 655,505,936 7.6
Japan 553,164,927 6.4
Brazil 206,091,988 2.4
Canada 183,307,515 2.1
Ireland 148,022,100 1.7
The Netherlands 130,049,992 1.5
Australia 93,673,724 1.1
Mexico 86,940,831 1.0
Singapore 84,990,346 1.0
Finland 77,329,376 0.9
Italy 65,005,074 0.8
Sweden 61,470,394 0.7
India 56,650,483 0.7
Hong Kong 39,541,315 0.5
Korea, Republic of (South) 37,756,601 0.4
Switzerland 35,622,425 0.4
Argentina 27,573,000 0.3
------------------------------
Total $ 8,660,817,092 100.0%
==============================
</TABLE>
See accompanying Notes to Financial Statements.
17 OPPENHEIMER GLOBAL FUND
<PAGE>
STATEMENT OF ASSETS AND LIABILITIES September 30, 2000
<TABLE>
<CAPTION>
<S> <C>
Assets
Investments, at value--see accompanying statement:
Unaffiliated companies (cost $6,451,428,126) $ 8,251,141,502
Affiliated companies (cost $306,885,284) 409,675,590
------------------
8,660,817,092
Unrealized appreciation on foreign currency contracts 188,028
Receivables and other assets:
Investments sold 135,621,340
Shares of beneficial interest sold 26,367,086
Interest and dividends 8,675,874
Other 530,238
------------------
Total assets 8,832,199,658
Liabilities
Bank overdraft 4,923,652
Unrealized depreciation on foreign currency contracts 265,013
Payables and other liabilities:
Shares of beneficial interest redeemed 20,977,094
Investments purchased 15,411,093
Distribution and service plan fees 5,061,220
Trustees' compensation 1,143,303
Transfer and shareholder servicing agent fees 708,491
Other 1,277,470
------------------
Total liabilities 49,767,336
Net Assets $ 8,782,432,322
==================
Composition of Net Assets
Paid-in capital $ 5,317,035,346
Overdistributed net investment income (21,380,450)
Accumulated net realized gain on investments and foreign currency
transactions 1,583,499,304
Net unrealized appreciation on investments and translation of
assets and liabilities denominated in foreign currencies 1,903,278,122
------------------
Net Assets $ 8,782,432,322
==================
</TABLE>
18 OPPENHEIMER GLOBAL FUND
<PAGE>
<TABLE>
<CAPTION>
==================================================================================
Net Asset Value Per Share
Class A Shares:
<S> <C>
Net asset value and redemption price per share (based on net assets of
$6,225,966,723 and 92,258,496 shares of beneficial interest outstanding) $67.48
Maximum offering price per share (net asset value plus sales charge
of 5.75% of offering price) $71.60
Class B Shares:
Net asset value, redemption price (excludes applicable contingent deferred
sales charge) and offering price per share (based on net assets of
$1,948,901,126 and 29,864,687 shares of beneficial interest outstanding) $65.26
Class C Shares:
Net asset value, redemption price (excludes applicable contingent deferred
sales charge) and offering price per share (based on net assets of
$404,312,005 and 6,117,725 shares of beneficial interest outstanding) $66.09
Class Y Shares:
Net asset value, redemption price and offering price per share (based on
net assets of $203,252,468 and 3,009,797 shares of beneficial interest
outstanding) $67.53
</TABLE>
See accompanying Notes to Financial Statements.
19 OPPENHEIMER GLOBAL FUND
<PAGE>
STATEMENT OF OPERATIONS For the Year Ended September 30, 2000
<TABLE>
<CAPTION>
==========================================================================================
Investment Income
<S> <C>
Dividends (net of foreign withholding taxes of $5,415,341) $ 83,271,250
Interest 28,128,547
Lending fees 4,286,135
---------------
Total income 115,685,932
==========================================================================================
Expenses
Management fees 51,913,093
Distribution and service plan fees:
Class A 12,836,492
Class B 17,789,399
Class C 2,872,783
Transfer and shareholder servicing agent fees:
Class A 6,429,864
Class B 2,067,998
Class C 324,305
Class Y 120,171
Custodian fees and expenses 1,529,523
Trustees' compensation 885,150
Other 2,809,556
---------------
Total expenses 99,578,334
Less expenses paid indirectly (39,908)
---------------
Net expenses 99,538,426
==========================================================================================
Net Investment Income 16,147,506
==========================================================================================
Realized and Unrealized Gain (Loss)
Net realized gain (loss) on:
Investments 1,974,117,127
Foreign currency transactions (105,505,145)
---------------
Net realized gain 1,868,611,982
Net change in unrealized appreciation (depreciation) on:
Investments 805,848,866
Translation of assets and liabilities denominated in foreign currencies (222,426,192)
---------------
Net change 583,422,674
---------------
Net realized and unrealized gain 2,452,034,656
==========================================================================================
Net Increase in Net Assets Resulting from Operations $ 2,468,182,162
===============
</TABLE>
See accompanying Notes to Financial Statements.
20 OPPENHEIMER GLOBAL FUND
<PAGE>
STATEMENTS OF CHANGES IN NET ASSETS
<TABLE>
<CAPTION>
Year Ended September 30, 2000 1999
============================================================================================
Operations
<S> <C> <C>
Net investment income $ 16,147,506 $ 8,088,099
Net realized gain 1,868,611,982 439,319,385
Net change in unrealized appreciation 583,422,674 1,064,237,399
----------------------------------
Net increase in net assets resulting from operations 2,468,182,162 1,511,644,883
============================================================================================
Dividends and/or Distributions to Shareholders
Dividends from net investment income:
Class A (24,751,244) (29,230,334)
Class B -- (2,646,395)
Class C (58,522) (395,293)
Class Y (528,849) (48,417)
Dividends in excess of net investment income:
Class A (2,812,795) --
Class B -- --
Class C (6,651) --
Class Y (60,099) --
Distributions from net realized gain:
Class A (318,659,987) (224,656,064)
Class B (107,173,380) (72,313,989)
Class C (13,675,246) (7,421,523)
Class Y (4,368,380) (298,614)
============================================================================================
Beneficial Interest Transactions
Net increase in net assets resulting from
beneficial interest transactions:
Class A 997,501,820 7,032,546
Class B 230,422,793 78,987,065
Class C 191,760,904 31,852,258
Class Y 147,033,188 34,177,957
============================================================================================
Net Assets
Total increase 3,562,805,714 1,326,684,080
Beginning of period 5,219,626,608 3,892,942,528
----------------------------------
End of period [including undistributed (overdistributed)
net investment income of $(21,380,450) and $9,192,241,
respectively] $ 8,782,432,322 $ 5,219,626,608
==================================
</TABLE>
See accompanying Notes to Financial Statements.
21 OPPENHEIMER GLOBAL FUND
<PAGE>
FINANCIAL HIGHLIGHTS
<TABLE>
<CAPTION>
Class A Year Ended September 30, 2000 1999 1998 1997 1996
========================================================================================================
Per Share Operating Data
<S> <C> <C> <C> <C> <C>
Net asset value, beginning of period $ 49.50 $ 38.34 $ 49.32 $ 39.00 $ 36.84
Income (loss) from investment
operations:
Net investment income .26 .17 1.08 .32 .23
Net realized and unrealized gain (loss) 22.20 14.37 (5.49) 11.91 4.22
---------------------------------------------------------------
Total income (loss) from
investment operations 22.46 14.54 (4.41) 12.23 4.45
Dividends and/or distributions to
shareholders:
Dividends from net investment income (.32) (.39) (.83) (.53) (.24)
Dividends in excess of net
investment income (.04) -- -- -- --
Distributions from net realized gain (4.12) (2.99) (5.74) (1.38) (2.05)
---------------------------------------------------------------
Total dividends and/or distributions
to shareholders (4.48) (3.38) (6.57) (1.91) (2.29)
Net asset value, end of period $ 67.48 $ 49.50 $ 38.34 $ 49.32 $ 39.00
===============================================================
========================================================================================================
Total Return, at Net Asset Value/1/ 47.13% 40.05% (9.85)% 32.85% 12.98%
========================================================================================================
Ratios/Supplemental Data
Net assets, end of period (in millions) $ 6,226 $ 3,780 $ 2,905 $ 3,408 $ 2,499
Average net assets (in millions) $ 5,555 $ 3,475 $ 3,381 $ 2,869 $ 2,309
Ratios to average net assets:/2/
Net investment income 0.41% 0.37% 0.96% 0.74% 0.62%
Expenses 1.08% 1.16% 1.14%/3/ 1.13%/3/ 1.17%/3/
Portfolio turnover rate 62% 68% 65% 66% 103%
</TABLE>
1. Assumes a $1,000 hypothetical initial investment on the business day before
the first day of the fiscal period (or inception of offering), with all
dividends and distributions reinvested in additional shares on the reinvestment
date, and redemption at the net asset value calculated on the last business day
of the fiscal period. Sales charges are not reflected in the total returns.
Total returns are not annualized for periods of less than one full year.
2. Annualized for periods of less than one full year.
3. Expense ratio has not been grossed up to reflect the effect of expenses paid
indirectly.
See accompanying Notes to Financial Statements.
22 OPPENHEIMER GLOBAL FUND
<PAGE>
<TABLE>
<CAPTION>
Class B Year Ended September 30, 2000 1999 1998 1997 1996
==========================================================================================================
Per Share Operating Data
<S> <C> <C> <C>
Net asset value, beginning of period $ 48.05 $ 37.32 $ 48.19 $ 38.19 $ 36.16
Income (loss) from investment
operations:
Net investment income (loss) (.19) (.16) .69 (.04) (.05)
Net realized and unrealized gain (loss) 21.52 13.99 (5.31) 11.68 4.13
--------------------------------------------------------------
Total income (loss) from
investment operations 21.33 13.83 (4.62) 11.64 4.08
Dividends and/or distributions to
shareholders:
Dividends from net investment income -- (.11) (.51) (.26) --
Dividends in excess of net investment
income -- -- -- -- --
Distributions from net realized gain (4.12) (2.99) (5.74) (1.38) (2.05)
--------------------------------------------------------------
Total dividends and/or distributions
to shareholders (4.12) (3.10) (6.25) (1.64) (2.05)
Net asset value, end of period $ 65.26 $ 48.05 $ 37.32 $ 48.19 $ 38.19
==============================================================
==========================================================================================================
Total Return, at Net Asset Value/1/ 46.01% 38.99% (10.56)% 31.77% 12.07%
==========================================================================================================
Ratios/Supplemental Data
Net assets, end of period (in millions) $ 1,949 $ 1,250 $ 897 $ 897 $ 541
Average net assets (in millions) $ 1,780 $ 1,122 $ 966 $ 692 $ 438
Ratios to average net assets:/2/
Net investment income (loss) (0.38)% (0.40)% 0.20% (0.23)% (0.17)%
Expenses 1.85% 1.94% 1.91%/3/ 1.94%/3/ 2.00%/3/
Portfolio turnover rate 62% 68% 65% 66% 103%
</TABLE>
1. Assumes a $1,000 hypothetical initial investment on the business day before
the first day of the fiscal period (or inception of offering), with all
dividends and distributions reinvested in additional shares on the reinvestment
date, and redemption at the net asset value calculated on the last business day
of the fiscal period. Sales charges are not reflected in the total returns.
Total returns are not annualized for periods of less than one full year.
2. Annualized for periods of less than one full year.
3. Expense ratio has not been grossed up to reflect the effect of expenses paid
indirectly.
See accompanying Notes to Financial Statements.
23 OPPENHEIMER GLOBAL FUND
<PAGE>
<TABLE>
<CAPTION>
Class C Year Ended September 30, 2000 1999 1998 1997 1996/1/
=====================================================================================================================
Per Share Operating Data
<S> <C> <C> <C> <C> <C>
Net asset value, beginning of period $ 48.63 $ 37.79 $ 48.77 $ 38.73 $ 36.67
Income (loss) from investment
operations:
Net investment income (loss) .06 (.08) .75 (.08) .09
Net realized and unrealized gain
(loss) 21.54 14.07 (5.42) 11.86 4.13
----------------------------------------------------------------
Total income (loss) from investment
operations 21.60 13.99 (4.67) 11.78 4.22
Dividends and/or distributions to shareholders:
Dividends from net investment income (.02) (.16) (.57) (.36) (.11)
Dividends in excess of net
investment income --/2/ -- -- -- --
Distributions from net realized gain (4.12) (2.99) (5.74) (1.38) (2.05)
----------------------------------------------------------------
Total dividends and/or distributions
to shareholders (4.14) (3.15) (6.31) (1.74) (2.16)
Net asset value, end of period $ 66.09 $ 48.63 $ 37.79 $ 48.77 $ 38.73
================================================================
=====================================================================================================================
Total Return, at Net Asset Value/3/ 46.01% 38.97% (10.53)% 31.76% 12.34%
=====================================================================================================================
Ratios/Supplemental Data
Net assets, end of period (in
millions) $ 404 $ 153 $ 91 $ 60 $ 18
Average net assets (in millions) $ 288 $ 125 $ 79 $ 35 $ 8
Ratios to average net assets:/4/
Net investment income (loss) (0.29)% (0.38)% 0.23% (0.86)%/5/ 0.04%
Expenses 1.85% 1.94% 1.91%/6/ 1.94%/6/ 1.99%/6/
Portfolio turnover rate 62% 68% 65% 66% 103%
</TABLE>
1. For the period from October 2, 1995 (inception of offering) to September 30,
1996.
2. Less than $0.005 per share.
3. Assumes a $1,000 hypothetical initial investment on the business day before
the first day of the fiscal period (or inception of offering), with all
dividends and distributions reinvested in additional shares on the reinvestment
date, and redemption at the net asset value calculated on the last business day
of the fiscal period. Sales charges are not reflected in the total returns.
Total returns are not annualized for periods of less than one full year.
4. Annualized for periods of less than one full year.
5. Due to the acquisition of the net assets of Oppenheimer Global Emerging
Growth Fund, the ratios for Class C shares are not necessarily comparable to
those of prior periods.
6. Expense ratio has not been grossed up to reflect the effect of expenses paid
indirectly.
See accompanying Notes to Financial Statements.
24 OPPENHEIMER GLOBAL FUND
<PAGE>
<TABLE>
<CAPTION>
Class Y Year Ended September 30, 2000 1999/1/
==========================================================================================
Per Share Operating Data
<S> <C> <C>
Net asset value, beginning of period $ 49.54 $ 42.38
Income from investment operations:
Net investment income .64 .63
Net realized and unrealized gain 22.03 10.00
--------------------
Total income from investment operations 22.67 10.63
Dividends and/or distributions to shareholders:
Dividends from net investment income (.50) (.48)
Dividends in excess of net investment income (.06) --
Distributions from net realized gain (4.12) (2.99)
--------------------
Total dividends and/or distributions to shareholders (4.68) (3.47)
Net asset value, end of period $ 67.53 $49.54
====================
==========================================================================================
Total Return, at Net Asset Value/2/ 47.63% 27.11%
==========================================================================================
Ratios/Supplemental Data
Net assets, end of period (in millions) $ 203 $ 37
Average net assets (in millions) $ 137 $ 17
Ratios to average net assets:/3/
Net investment income 0.90% 1.07%
Expenses 0.82% 0.78%
Portfolio turnover rate 62% 68%
</TABLE>
1. For the period from November 17, 1998 (inception of offering) to September
30, 1999.
2. Assumes a $1,000 hypothetical initial investment on the business day before
the first day of the fiscal period (or inception of offering), with all
dividends and distributions reinvested in additional shares on the reinvestment
date, and redemption at the net asset value calculated on the last business day
of the fiscal period. Sales charges are not reflected in the total returns.
Total returns are not annualized for periods of less than one full year.
3. Annualized for periods of less than one full year.
See accompanying Notes to Financial Statements.
25 OPPENHEIMER GLOBAL FUND
<PAGE>
NOTES TO FINANCIAL STATEMENTS
================================================================================
1.Significant Accounting Policies
Oppenheimer Global Fund (the Fund) is registered under the Investment Company
Act of 1940, as amended, as an open-end management investment company. The
Fund's investment objective is to seek capital appreciation.
The Fund's investment advisor is OppenheimerFunds, Inc. (the Manager). The
Fund offers Class A, Class B, Class C and Class Y shares. Class A shares are
sold at their offering price, which is normally net asset value plus a front-end
sales charge. Class B and Class C shares are sold without a front-end sales
charge but may be subject to a contingent deferred sales charge (CDSC). Class Y
shares are sold to certain institutional investors without either a front-end
sales charge or a CDSC. All classes of shares have identical rights to earnings,
assets and voting privileges, except that each class has its own expenses
directly attributable to that class and exclusive voting rights with respect to
matters affecting that class. Classes A, B and C have separate distribution
and/or service plans. No such plan has been adopted for Class Y shares. Class B
shares will automatically convert to Class A shares six years after the date of
purchase. The following is a summary of significant accounting policies
consistently followed by the Fund.
Securities Valuation. Securities listed or traded on National Stock Exchanges or
other domestic or foreign exchanges are valued based on the last sale price of
the security traded on that exchange prior to the time when the Fund's assets
are valued. In the absence of a sale, the security is valued at the last sale
price on the prior trading day, if it is within the spread of the closing bid
and asked prices, and if not, at the closing bid price. Securities (including
restricted securities) for which quotations are not readily available are valued
primarily using dealer-supplied valuations, a portfolio pricing service
authorized by the Board of Trustees, or at their fair value. Fair value is
determined in good faith under consistently applied procedures under the
supervision of the Board of Trustees. Short-term "money market type" debt
securities with remaining maturities of sixty days or less are valued at
amortized cost (which approximates market value).
Foreign Currency Translation. The accounting records of the Fund are maintained
in U.S. dollars. Prices of securities denominated in foreign currencies are
translated into U.S. dollars at the closing rates of exchange. Amounts related
to the purchase and sale of foreign securities and investment income are
translated at the rates of exchange prevailing on the respective dates of such
transactions.
The effect of changes in foreign currency exchange rates on investments is
separately identified from the fluctuations arising from changes in market
values of securities held and reported with all other foreign currency gains and
losses in the Fund's Statement of Operations.
26 OPPENHEIMER GLOBAL FUND
<PAGE>
Repurchase Agreements. The Fund requires the custodian to take possession, to
have legally segregated in the Federal Reserve Book Entry System or to have
segregated within the custodian's vault, all securities held as collateral for
repurchase agreements. The market value of the underlying securities is required
to be at least 102% of the resale price at the time of purchase. If the seller
of the agreement defaults and the value of the collateral declines, or if the
seller enters an insolvency proceeding, realization of the value of the
collateral by the Fund may be delayed or limited.
Allocation of Income, Expenses, Gains and Losses. Income, expenses (other than
those attributable to a specific class), gains and losses are allocated daily to
each class of shares based upon the relative proportion of net assets
represented by such class. Operating expenses directly attributable to a
specific class are charged against the operations of that class.
Federal Taxes. The Fund intends to continue to comply with provisions of the
Internal Revenue Code applicable to regulated investment companies and to
distribute all of its taxable income, including any net realized gain on
investments not offset by loss carryovers, to shareholders. Therefore, no
federal income or excise tax provision is required.
As of September 30, 2000, the Fund had available for federal tax purposes an
unused capital loss carryover as follows:
Expiring
--------------------------
2001 $643,262
The capital loss carryover was acquired in connection with the Oppenheimer
Global Emerging Growth Fund merger.
Trustees' Compensation. The Fund has adopted an unfunded retirement plan for the
Fund's independent Board of Trustees. Benefits are based on years of service and
fees paid to each trustee during the years of service. During the year ended
September 30, 2000, a provision of $680,222 was made for the Fund's projected
benefit obligations and payments of $17,885 were made to retired trustees,
resulting in an accumulated liability of $1,016,487 as of September 30, 2000.
The Board of Trustees has adopted a deferred compensation plan for
independent trustees that enables trustees to elect to defer receipt of all or a
portion of annual compensation they are entitled to receive from the Fund. Under
the plan, the compensation deferred is periodically adjusted as though an
equivalent amount had been invested for the Board of Trustees in shares of one
or more Oppenheimer funds selected by the trustee. The amount paid to the Board
of Trustees under the plan will be determined based upon the performance of the
selected funds. Deferral of trustees' fees under the plan will not affect the
net assets of the Fund, and will not materially affect the Fund's assets,
liabilities or net investment income per share.
27 OPPENHEIMER GLOBAL FUND
<PAGE>
NOTES TO FINANCIAL STATEMENTS Continued
================================================================================
1.Significant Accounting Policies Continued
Dividends and Distributions to Shareholders. Dividends and distributions to
shareholders, which are determined in accordance with income tax regulations,
are recorded on the ex-dividend date.
Classification of Dividends and Distributions to Shareholders. Net investment
income (loss) and net realized gain (loss) may differ for financial statement
and tax purposes primarily because of the recognition of certain foreign
currency gains (losses) as ordinary income (loss) for tax purposes. The
character of dividends and distributions made during the fiscal year from net
investment income or net realized gains may differ from its ultimate
characterization for federal income tax purposes. Also, due to timing of
dividends and distributions, the fiscal year in which amounts are distributed
may differ from the fiscal year in which the income or realized gain was
recorded by the Fund.
The Fund adjusts the classification of distributions to shareholders to
reflect the differences between financial statement amounts and distributions
determined in accordance with income tax regulations. Accordingly, during the
year ended September 30, 2000, amounts have been reclassified to reflect an
increase in paid-in capital of $286,928,486, an increase in overdistributed net
investment income of $18,502,037, and a decrease in accumulated net realized
gain on investments of $268,426,449. This reclassification includes $278,221,069
distributed in connection with Fund share redemptions which increased paid-in
capital and reduced accumulated net realized gain. Net assets of the Fund were
unaffected by the reclassifications.
Expense Offset Arrangements. Expenses paid indirectly represent a reduction of
custodian fees for earnings on cash balances maintained by the Fund.
Other. Investment transactions are accounted for as of trade date and dividend
income is recorded on the ex-dividend date. Certain dividends from foreign
securities will be recorded as soon as the Fund is informed of the dividend if
such information is obtained subsequent to the ex-dividend date. Realized gains
and losses on investments and unrealized appreciation and depreciation are
determined on an identified cost basis, which is the same basis used for federal
income tax purposes.
The preparation of financial statements in conformity with generally
accepted accounting principles requires management to make estimates and
assumptions that affect the reported amounts of assets and liabilities and
disclosure of contingent assets and liabilities at the date of the financial
statements and the reported amounts of income and expenses during the reporting
period. Actual results could differ from those estimates.
28 OPPENHEIMER GLOBAL FUND
<PAGE>
================================================================================
2.Shares of Beneficial Interest
The Fund has authorized an unlimited number of no par value shares of beneficial
interest of each class. Transactions in shares of beneficial interest were as
follows:
<TABLE>
<CAPTION>
Year Ended September 30, 2000 Year Ended September 30, 1999
Shares Amount Shares Amount
----------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
Class A
Sold 41,268,514 $ 2,702,564,515 21,868,208 $ 985,462,142
Dividends and/or distributions
reinvested 5,740,489 324,107,834 6,076,163 242,196,637
Redeemed (31,111,804) (2,029,170,529) (27,344,921) (1,220,626,233)
-----------------------------------------------------------------------
Net increase 15,897,199 $ 997,501,820 599,450 $ 7,032,546
=======================================================================
----------------------------------------------------------------------------------------------------------
Class B
Sold 9,879,530 $ 629,792,322 5,423,184 $ 237,546,597
Dividends and/or distributions
reinvested 1,862,665 102,333,780 1,838,492 71,590,602
Redeemed (7,899,146) (501,703,309) (5,285,928) (230,150,134)
-----------------------------------------------------------------------
Net increase 3,843,049 $ 230,422,793 1,975,748 $ 78,987,065
=======================================================================
----------------------------------------------------------------------------------------------------------
Class C
Sold 4,469,297 $ 289,819,449 2,142,998 $ 95,584,924
Dividends and/or distributions
reinvested 229,374 12,762,899 188,857 7,442,891
Redeemed (1,719,363) (110,821,444) (1,593,990) (71,175,557)
-----------------------------------------------------------------------
Net increase 2,979,308 $ 191,760,904 737,865 $ 31,852,258
=======================================================================
----------------------------------------------------------------------------------------------------------
Class Y
Sold 3,351,080 $ 219,038,460 855,756 $ 39,826,282
Dividends and/or distributions
reinvested 87,974 4,957,327 8,723 346,949
Redeemed (1,167,854) (76,962,599) (125,882) (5,995,274)
-----------------------------------------------------------------------
Net increase 2,271,200 $ 147,033,188 738,597 $ 34,177,957
=======================================================================
==========================================================================================================
</TABLE>
3. Purchases and Sales of Securities
The aggregate cost of purchases and proceeds from sales of securities, other
than short-term obligations, for the year ended September 30, 2000, were
$5,020,195,870 and $4,416,056,093, respectively.
As of September 30, 2000, unrealized appreciation (depreciation) based on
cost of securities for federal income tax purposes of $6,779,130,029 was:
Gross unrealized appreciation $ 2,279,796,506
Gross unrealized depreciation (398,109,443)
---------------
Net unrealized appreciation $ 1,881,687,063
===============
29 OPPENHEIMER GLOBAL FUND
<PAGE>
NOTES TO FINANCIAL STATEMENTS Continued
================================================================================
4. Fees and Other Transactions with Affiliates
Management Fees. Management fees paid to the Manager were in accordance with the
investment advisory agreement with the Fund which provides for a fee of 0.80% of
the first $250 million of average annual net assets of the Fund, 0.77% of the
next $250 million, 0.75% of the next $500 million, 0.69% of the next $1.0
billion, 0.67% on the next $1.5 billion, 0.65% on the next $2.5 billion and
0.63% of average annual net assets in excess of $6.0 billion. The Fund's
management fee for the year ended September 30, 2000 was an annualized rate of
0.67%, before any waiver by the Manager if applicable.
--------------------------------------------------------------------------------
Transfer Agent Fees. OppenheimerFunds Services (OFS), a division of the Manager,
acts as the transfer and shareholder servicing agent for the Fund on an
"at-cost" basis. OFS also acts as the transfer and shareholder servicing agent
for the other Oppenheimer funds.
--------------------------------------------------------------------------------
Distribution and Service Plan Fees. Under its General Distributor's Agreement
with the Manager, the Distributor acts as the Fund's principal underwriter in
the continuous public offering of the different classes of shares of the Fund.
The compensation paid to (or retained by) the Distributor from the sale of
shares or on the redemption of shares is shown in the table below for the period
indicated.
<TABLE>
<CAPTION>
Aggregate Class A Commissions Commissions Commissions
Front-End Front-End on Class A on Class B on Class C
Sales Charges Sales Charges Shares Shares Shares
on Class A Retained by Advanced by Advanced by Advanced by
Year Ended Shares Distributor Distributor/1/ Distributor/1/ Distributor/1/
-------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
September 30, 2000 $9,573,010 $2,549,796 $ 1,857,914 $15,736,329 $ 1,844,836
</TABLE>
1. The Distributor advances commission payments to dealers for certain sales of
Class A shares and for sales of Class B and Class C shares from its own
resources at the time of sale.
<TABLE>
<CAPTION>
Class A Class B Class C
Contingent Deferred Contingent Deferred Contingent Deferred
Sales Charges Sales Charges Sales Charges
Year Ended Retained by Distributor Retained by Distributor Retained by Distributor
------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
September 30, 2000 $ 221,597 $ 1,614,023 $ 77,069
</TABLE>
The Fund has adopted a Service Plan for Class A shares and Distribution and
Service Plans for Class B and Class C shares under Rule 12b-1 of the Investment
Company Act. Under those plans the Fund pays the Distributor for all or a
portion of its costs incurred in connection with the distribution and/or
servicing of the shares of the particular class.
--------------------------------------------------------------------------------
Class A Service Plan Fees. Under the Class A service plan, the Distributor
currently uses the fees it receives from the Fund to pay brokers, dealers and
other financial institutions. The Class A service plan permits reimbursements to
the Distributor at a rate of up to 0.25% of average annual net assets of Class A
shares purchased. The Distributor makes payments to plan recipients quarterly at
an annual rate not to exceed 0.25% of the average annual net assets consisting
of Class A shares of the Fund. For the year ended September 30, 2000, payments
under the Class A plan totaled $12,836,492 prior to Manager waiver if
applicable, all of which were paid by the Distributor to recipients, and
30 OPPENHEIMER GLOBAL FUND
<PAGE>
included $748,951 paid to an affiliate of the Manager. Any unreimbursed expenses
the Distributor incurs with respect to Class A shares in any fiscal year cannot
be recovered in subsequent years.
--------------------------------------------------------------------------------
Class B and Class C Distribution and Service Plan Fees. Under each plan, service
fees and distribution fees are computed on the average of the net asset value of
shares in the respective class, determined as of the close of each regular
business day during the period. The Class B and Class C plans provide for the
Distributor to be compensated at a flat rate, whether the Distributor's
distribution expenses are more or less than the amounts paid by the Fund under
the plan during the period for which the fee is paid.
The Distributor retains the asset-based sales charge on Class B shares. The
Distributor retains the asset-based sales charge on Class C shares during the
first year the shares are outstanding. The asset-based sales charges on Class B
and Class C shares allow investors to buy shares without a front-end sales
charge while allowing the Distributor to compensate dealers that sell those
shares. The Distributor's actual expenses in selling Class B and Class C shares
may be more than the payments it receives from the contingent deferred sales
charges collected on redeemed shares and asset-based sales charges from the Fund
under the plans. If any plan is terminated by the Fund, the Board of Trustees
may allow the Fund to continue payments of the asset-based sales charge to the
Distributor for distributing shares before the plan was terminated. The plans
allow for the carry-forward of distribution expenses, to be recovered from
asset-based sales charges in subsequent fiscal periods.
Distribution fees paid to the Distributor for the year ended September 30, 2000,
were as follows:
<TABLE>
<CAPTION>
Distributor's Distributor's
Aggregate Unreimbursed
Unreimbursed Expenses as %
Total Payments Amount Retained Expenses of Net Assets
Under Plan by Distributor Under Plan of Class
--------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
Class B Plan $ 17,789,399 $ 14,244,558 $ 22,609,721 1.16%
Class C Plan 2,872,783 1,160,408 3,460,686 0.86
</TABLE>
================================================================================
5. Foreign Currency Contracts
A foreign currency contract is a commitment to purchase or sell a foreign
currency at a future date, at a negotiated rate. The Fund may enter into foreign
currency contracts for operational purposes and to seek to protect against
adverse exchange rate fluctuations. Risks to the Fund include the potential
inability of the counterparty to meet the terms of the contract.
The net U.S. dollar value of foreign currency underlying all contractual
commitments held by the Fund and the resulting unrealized appreciation or
depreciation are determined using foreign currency exchange rates as provided by
a reliable bank, dealer or pricing service. Unrealized appreciation and
depreciation on foreign currency contracts are reported in the Statement of
Assets and Liabilities.
31 OPPENHEIMER GLOBAL FUND
<PAGE>
NOTES TO FINANCIAL STATEMENTS Continued
================================================================================
5. Foreign Currency Contracts Continued
The Fund may realize a gain or loss upon the closing or settlement of the
foreign currency transactions. Realized gains and losses are reported with all
other foreign currency gains and losses in the Statement of Operations.
Securities denominated in foreign currency to cover net exposure on
outstanding foreign currency contracts are noted in the Statement of Investments
where applicable.
As of September 30, 2000, the Fund had outstanding foreign currency contracts as
follows:
<TABLE>
<CAPTION>
Valuation as of
Expiration Contract September 30, Unrealized Unrealized
Contract Description Date Amount (000s) 2000 Appreciation Depreciation
-------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
Contracts to Sell
Euro (EUR) 10/2/00-10/3/00 /EUR/57,998 $51,189,405 $ 2,730 $265,013
Japanese Yen (JPY) 10/3/00 /JPY/7,522,944 69,659,136 185,298 --
--------------------------
Total Unrealized Appreciation and Depreciation $188,028 $265,013
==========================
</TABLE>
================================================================================
6. Illiquid or Restricted Securities
As of September 30, 2000, investments in securities included issues that are
illiquid or restricted. Restricted securities are often purchased in private
placement transactions, are not registered under the Securities Act of 1933, may
have contractual restrictions on resale, and are valued under methods approved
by the Board of Trustees as reflecting fair value. A security may also be
considered illiquid if it lacks a readily available market or if its valuation
has not changed for a certain period of time. The Fund intends to invest no more
than 10% of its net assets (determined at the time of purchase and reviewed
periodically) in illiquid or restricted securities. Certain restricted
securities, eligible for resale to qualified institutional investors, are not
subject to that limitation. The aggregate value of illiquid or restricted
securities subject to this limitation as of September 30, 2000 was $27,573,000,
which represents 0.31% of the Fund's net assets, all of which is considered
restricted. Information concerning restricted securities is as follows:
<TABLE>
<CAPTION>
Valuation Per
Units as of
Acquisition Cost September 30,
Security Dates Per Unit 2000
----------------------------------------------------------------------------
<S> <C> <C> <C>
Swiss Medical SA 10/28/97 $44.30 $91.91
============================================================================
</TABLE>
7. Bank Borrowings
The Fund may borrow from a bank for temporary or emergency purposes including,
without limitation, funding of shareholder redemptions provided asset coverage
for borrowings exceeds 300%. The Fund has entered into an agreement which
enables it to participate with other Oppenheimer funds in an unsecured line of
credit with a bank, which permits borrowings up to $400 million, collectively.
Interest is charged to each fund, based on its borrowings, at a rate equal to
the Federal Funds Rate plus 0.45%. Borrowings
32 OPPENHEIMER GLOBAL FUND
<PAGE>
are payable 30 days after such loan is executed. The Fund also pays a commitment
fee equal to its pro rata share of the average unutilized amount of the credit
facility at a rate of 0.08% per annum.
The Fund had no borrowings outstanding during the year ended September 30, 2000.
================================================================================
8. Securities Loaned
The Fund entered into a securities lending arrangement with the custodian,
whereby the Fund received 60% of the annual fees income from lending
transactions. In exchange for such fees, the custodian is authorized to loan
securities on behalf of the Fund, against receipt of collateral at least equal
in value to the value of the securities loaned. Cash collateral is invested by
the custodian in money market instruments approved by the Manager.
Effective September 22, 2000, this securities lending arrangement with the
custodian was terminated.
33 OPPENHEIMER GLOBAL FUND
<PAGE>
INDEPENDENT AUDITORS' REPORT
================================================================================
The Board of Trustees and Shareholders of
Oppenheimer Global Fund:
We have audited the accompanying statement of assets and liabilities, including
the statement of investments, of Oppenheimer Global Fund as of September 30,
2000, and the related statement of operations for the year then ended, the
statements of changes in net assets for each of the years in the two-year period
then ended and the financial highlights for each of the years in the five-year
period then ended. These financial statements and financial highlights are the
responsibility of the Fund's management. Our responsibility is to express an
opinion on these financial statements and financial highlights based on our
audits.
We conducted our audits in accordance with auditing standards generally
accepted in the United States of America. Those standards require that we plan
and perform the audit to obtain reasonable assurance about whether the financial
statements and financial highlights are free of material misstatement. An audit
includes examining, on a test basis, evidence supporting the amounts and
disclosures in the financial statements. Our procedures included confirmation of
securities owned as of September 30, 2000, by correspondence with the custodian
and brokers; and where confirmations were not received from brokers, we
performed other auditing procedures. An audit also includes assessing the
accounting principles used and significant estimates made by management, as well
as evaluating the overall financial statement presentation. We believe that our
audits provide a reasonable basis for our opinion.
In our opinion, the financial statements and financial highlights referred
to above present fairly, in all material respects, the financial position of
Oppenheimer Global Fund as of September 30, 2000, the results of its operations
for the year then ended, the changes in its net assets for each of the years in
the two-year period then ended, and the financial highlights for each of the
years in the five-year period then ended, in conformity with accounting
principles generally accepted in the United States of America.
KPMG LLP
Denver, Colorado
October 20, 2000
34 OPPENHEIMER GLOBAL FUND
<PAGE>
FEDERAL INCOME TAX INFORMATION Unaudited
================================================================================
In early 2001, shareholders will receive information regarding all dividends and
distributions paid to them by the Fund during calendar year 2000. Regulations of
the U.S. Treasury Department require the Fund to report this information to the
Internal Revenue Service.
Dividends and distributions of $4.4778, $4.1213, $4.1410 and $4.6770 per
share were paid to Class A, Class B, Class C and Class Y shareholders,
respectively, on December 6, 1999, of which $3.0483 was designated as a "capital
gain distribution" for federal income tax purposes. Whether received in stock or
in cash, the capital gain distribution should be treated by shareholders as a
gain from the sale of capital assets held for more than one year (long-term
capital gains).
Dividends paid by the Fund during the fiscal year ended September 30, 2000,
which are not designated as capital gain distributions should be multiplied by
4.46% to arrive at the net amount eligible for the corporate dividend-received
deduction.
The Fund has elected the application of Section 853 of the Internal Revenue
Code to permit shareholders to take a federal income tax credit or deduction, at
their option, on a per share basis for an aggregate amount of $6,384,447 of
foreign income taxes paid by the Fund during the fiscal year ended September 30,
2000. A separate notice will be mailed to each shareholder in January of 2001,
which will reflect the proportionate share of such foreign taxes (as well as the
dividend expected to be paid by the Fund in December of 2000) which must be
treated by shareholders as gross income for federal income tax purposes.
The foregoing information is presented to assist shareholders in reporting
distributions received from the Fund to the Internal Revenue Service. Because of
the complexity of the federal regulations which may affect your individual tax
return and the many variations in state and local tax regulations, we recommend
that you consult your tax advisor for specific guidance.
35 OPPENHEIMER GLOBAL FUND
<PAGE>
OPPENHEIMER GLOBAL FUND
================================================================================
Officers and Trustees Leon Levy, Chairman of the Board of Trustees
Donald W. Spiro, Vice Chairman of the Board of Trustees
Bridget A. Macaskill, Trustee and President
Robert G. Galli, Trustee
Phillip A. Griffiths, Trustee
Benjamin Lipstein, Trustee
Elizabeth B. Moynihan, Trustee
Kenneth A. Randall, Trustee
Edward V. Regan, Trustee
Russell S. Reynolds, Jr., Trustee
Clayton K. Yeutter, Trustee
William L. Wilby, Vice President
Andrew J. Donohue, Secretary
Brian W. Wixted, Treasurer
Robert J. Bishop, Assistant Treasurer
Scott T. Farrar, Assistant Treasurer
Robert G. Zack, Assistant Secretary
================================================================================
Investment Advisor OppenheimerFunds, Inc.
================================================================================
Distributor OppenheimerFunds Distributor, Inc.
================================================================================
Transfer and Shareholder OppenheimerFunds Services
Servicing Agent
================================================================================
Custodian of The Bank of New York
Portfolio Securities
================================================================================
Independent Auditors KPMG LLP
================================================================================
Legal Counsel Mayer, Brown & Platt
For more complete information about Oppenheimer Global
Fund, please refer to the Prospectus. To obtain a copy,
call your financial advisor, or call OppenheimerFunds
Distributor, Inc. at 1.800.525.7048, or visit the
OppenheimerFunds Internet website, at
www.oppenheimerfunds.com.
Shares of Oppenheimer funds are not deposits or
obligations of any bank, are not guaranteed by any
bank, are not insured by the FDIC or any other agency,
and involve investment risks, including the possible
loss of the principal amount invested.
Oppenheimer funds are distributed by OppenheimerFunds
Distributor, Inc.,
Two World Trade Center, New York, NY 10048-0203.
(C)Copyright 2000 OppenheimerFunds, Inc.
All rights reserved.
36 OPPENHEIMER GLOBAL FUND
<PAGE>
INFORMATION AND SERVICES
As an Oppenheimer fund shareholder, you can benefit from
special services designed to make investing simple.
Whether it's automatic investment plans, timely market
updates, or immediate account access, you can count on
us whenever you need assistance. So call us today, or
visit our website--we're here to help.
--------------------------------------------------------------------------------
Internet
24-hr access to account information and transactions/1/
www.oppenheimerfunds.com
--------------------------------------------------------
General Information Mon-Fri
8:30am-9pm ET, Sat 10am-4pm ET
1.800.525.7048
--------------------------------------------------------
Telephone Transactions
Mon-Fri 8am-9pm ET, Sat 10am-4pm ET
1.800.852.8457
--------------------------------------------------------
PhoneLink
24-hr automated information and automated transactions
1.800.533.3310
--------------------------------------------------------
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Mon-Fri 9am-6:30pm ET
1.800.843.4461
--------------------------------------------------------
OppenheimerFunds Market Hotline
24 hours a day, timely and insightful messages on the
economy and issues that may affect your investments
1.800.835.3104
--------------------------------------------------------
Transfer and Shareholder Servicing Agent
OppenheimerFunds Services
P.O. Box 5270, Denver, CO 80217-5270
--------------------------------------------------------
Ticker Symbols Class A: OPPAX Class B: OGLBX
Class C: OGLCX Class Y: OGLYX
--------------------------------------------------------------------------------
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