<PAGE>
OPPENHEIMER MONEY MARKET FUND, INC.
Semiannual Report June 30, 1995
"I want to
know my
money will
[PHOTO] be there
when I
need it."
[LOGO]
<PAGE>
This Fund is for people who want to earn
current INCOME while maintaining the VALUE
of their initial investment.
- ------------------------
HOW YOUR FUND IS MANAGED
- ------------------------
Oppenheimer Money Market Fund seeks maximum current income with stability of
principal while giving you a way to keep a portion of your assets liquid.
The manager of your Fund looks for maximum yield from money market
securities, such as short-term corporate notes, U.S. government securities,
and certificates of deposit.
The Fund's dividends accrue daily and are paid monthly. And to offer you
stability of principal, the Fund seeks to maintain a constant $1.00 per share
net asset value (NAV).(1)
- -----------
PERFORMANCE
- -----------
The Fund's seven-day annualized yield for Class A shares as of 6/30/95 was
5.46% with compounding and 5.32% without compounding.(2)
Compounded annualized yield for the 6 months ended 6/30/95 was 5.63%. The
corresponding yield without compounding was 5.48%.
- -------
OUTLOOK
- -------
"Because of our current interest rate outlook, we continue to buy
securities with maturities in the 90-day range. This positioning should help
us to position the Fund's yield within the safety constraints shareholders
expect for the portion of their portfolio they allocate to their money market
fund."
Carol Wolf, Portfolio Manager
June 30, 1995
Past performance is not indicative of future results.
1. The Fund is neither insured nor guaranteed by the U.S. government, and
there is no assurance that the Fund will maintain a stable $1 share price in
the future.
2. Compounded yields assume reinvestment of dividends.
2 Oppenheimer Money Market Fund, Inc.
<PAGE>
[Photo]
Donald W. Spiro
President
Oppenheimer Money
Market Fund, Inc.
[Photo]
Jon S. Fossel
Chairman and CEO
Oppenheimer
Management
Corporation
Dear OppenheimerFunds Shareholder,
We've seen a marked improvement so far this year in both the stock and bond
markets. The single most important factor behind the rally in both markets
was a change in the Federal Reserve Board's monetary policy. Between February
1994 and February 1995, the Fed raised interest rates as a proactive attempt
to preempt inflation and to prolong the current cycle of economic growth.
These rate increases successfully kept the economy from overheating, as
economic data released throughout the first half of the year suggested that
the Fed had finally achieved its intended effect of slowing the rate of
economic growth.
The economic outlook for moderate growth in a relatively non-inflationary
environment, along with lower interest rates and talk of deficit reduction,
boosted investors' confidence in the stock market. As a result, the Dow Jones
Industrial Average hit record highs repeatedly in the first half of the year.
Bonds across a broad range of asset classes enjoyed exceptional price
appreciation as well, more than making up for last year's difficult bond
market.
Although lower interest rates are generally good news for the economy and
the securities markets, they do not benefit short-term savings vehicles like
money market funds. With a share price designed not to fluctuate, income is
the only variable in money market fund returns--and declining rates limit the
amount of income available from the types of safe, short-term securities in
which money market funds invest.
Yet, in any environment, it's important to have a portion of your money
allocated to stable investments. Money market funds are designed to offer
liquidity, a stable share price, and professional management aimed at
capturing high yields.
Moving forward, we believe the Fed will feel little pressure to increase
interest rates in the near term given the economy's slowdown, and rates on
money market funds will likely remain at current levels. If the Fed sees
later this year that the rate of growth has slowed less than initially
anticipated, it could move to raise rates again, which would boost yields.
Or, if the Fed discovers that the economy has stalled, it could lower rates
to stimulate growth. Therefore, until the full extent of the economic
slowdown is known, questions about the direction of the economy will persist
and money market funds will remain an excellent defensive investment.
Your portfolio manager discusses the outlook for your Fund on the
following pages. Thank you for your confidence in OppenheimerFunds, and we
look forward to helping you continue to reach your investment goals in the
future.
/s/ Donald W. Spiro /s/ Jon S. Fossel
Donald W. Spiro Jon S. Fossel
July 24, 1995
3 Oppenheimer Money Market Fund, Inc.
<PAGE>
Q+A An interview with the Fund's managers.
CAROL WOLF
Portfolio Manager
SO FAR, 1995 HAS BEEN AN EXCELLENT YEAR FOR BOTH THE STOCK AND BOND MARKETS,
FUELED IN PART BY A DECLINE IN INTEREST RATES. WHAT IMPACT HAS THE RECENT
DECLINE HAD ON YOUR PORTFOLIO?
When interest rates decline, the yield on money market funds like this one
generally declines as well. While our yield is down slightly, it is not down
significantly because of some strategic positioning decisions we made in
anticipation of this market environment.
When we began to see rates starting to decline, we lengthened the
portfolio by investing in securities with maturities in the three to four
month range in an effort to lock in the higher-than-current rates. These
securities are now beginning to mature, so if rates continue to fall, we
could begin to see the Fund's yield come down further.
Because it looks like the economy has begun to slow, making an increase in
interest rates unlikely in the near future, we've continued to buy
longer-maturity securities in an effort to maintain a high yield under the
circumstances.
WHAT TYPES OF SECURITIES ARE YOU BUYING IN THIS ENVIRONMENT?
The composition of the portfolio hasn't changed significantly as far as
classes of securities are concerned. The majority--roughly 79.9%--of the
portfolio is still invested in commercial paper. Another 4.4% of the
portfolio is invested in certificates of deposit, where the supply has
generally been good.(1)
One area where we have made a change is in Small Business Administration
loans. We've sold off some of our position to realize the profits we have in
these securities. The market drove prices of SBA loan pools up this year
because of their excellent yield and "full faith and credit" status.
DO YOU EXPECT TO SEE ANY CHANGES IN INTEREST RATES IN THE NEAR TERM? IF SO,
IN WHAT DIRECTION?
We don't expect the Federal Reserve to make any move in the near future. As
we move toward 1996, however, we may see that position change. Right now, it
looks as though the Fed has achieved a soft landing, or slowing of the
economy to a more moderate growth rate, which was the goal of last year's
rate increases. If toward the end of the year it appears that the economy has
slowed too far, we'd expect the Fed to ease, cutting rates slightly to
stimulate growth. On the other hand, if inflation begins to pick up, the Fed
could move in the opposite direction. Still, we think the most likely
scenario is that rates will stay in their current trading range for at least
the next several months.
IN VIEW OF THIS BELIEF, WHAT IS YOUR OUTLOOK FOR THE FUND?
As always, safety is our first concern, so we invest only in short-term money
market securities. Because of our current interest rate outlook, we expect to
continue to buy securities with maturities in the 90-day range. This
positioning should help us to protect yield within the safety constraints
shareholders expect for the portion of their portfolio they allocate to their
money market fund.
1. The Fund's portfolio is subject to change.
4 Oppenheimer Money Market Fund, Inc.
<PAGE>
- -------------------------------------------------------------------------------
STATEMENT OF INVESTMENTS June 30, 1995 (Unaudited)
- -------------------------------------------------------------------------------
<TABLE>
<CAPTION>
FACE AMORTIZED COST
AMOUNT SEE NOTE 1
<S> <C> <C>
- ------------------------------------------------------------------------------------------------------------------
CERTIFICATES OF DEPOSIT--4.4%
- ------------------------------------------------------------------------------------------------------------------
DOMESTIC CERTIFICATES LaSalle National Bank, 5.81%, 9/19/95 $5,000,000 $5,000,000
OF DEPOSIT--0.6%
- ------------------------------------------------------------------------------------------------------------------
YANKEE CERTIFICATES Mitsubishi Bank Ltd.:
OF DEPOSIT--3.8% 6.03%, 8/14/95 3,000,000 2,999,892
6.04%, 8/11/95 5,000,000 5,000,000
6.06%, 8/10/95 5,000,000 5,000,164
--------------------------------------------------------------------------------
Sanwa Bank Ltd.:
6.02%, 8/14/95 5,000,000 4,999,939
6.03%, 9/1/95 5,000,000 5,001,122
6.10%, 7/5/95 10,000,000 10,000,033
------------
33,001,150
------------
Total Certificates of Deposit (Cost $38,001,150) 38,001,150
- ------------------------------------------------------------------------------------------------------------------
DIRECT BANK OBLIGATIONS--6.6%
- ------------------------------------------------------------------------------------------------------------------
Abbey National PLC, guaranteeing commercial
paper of:
Abbey National North America Corp., 5.90%, 8/7/95 5,000,000 4,969,681
--------------------------------------------------------------------------------
Barclays Bank PLC, guaranteeing bank note of:
Barclays Bank of Canada, 6.07%, 7/5/95 14,650,000 14,640,119
--------------------------------------------------------------------------------
Canadian Imperial Bank of Commerce, guaranteeing
commercial paper of:
Canadian Imperial Holdings, Inc., 5.94%, 8/9/95 5,000,000 4,967,825
--------------------------------------------------------------------------------
FCC National Bank, 5.61%, 7/5/95(1) 5,000,000 4,998,407
--------------------------------------------------------------------------------
First National Bank of Boston, 6.25%, 7/3/95(1) 5,000,000 5,000,000
--------------------------------------------------------------------------------
National Westminster Bank, guaranteeing commercial
paper of:
National Westminster Bank of Canada:
5.65%, 1/26/96 5,000,000 4,835,993
5.90%, 8/9/95 3,000,000 2,980,825
--------------------------------------------------------------------------------
Shawmut Bank of Connecticut, N.A.:
6.208%, 8/10/95(1) 5,000,000 5,000,000
6.25%, 7/3/95(1) 5,000,000 4,998,460
6.25%, 7/3/95(1) 5,000,000 5,000,000
------------
Total Direct Bank Obligations (Cost $57,391,310) 57,391,310
- ------------------------------------------------------------------------------------------------------------------
LETTERS OF CREDIT--6.1%
- ------------------------------------------------------------------------------------------------------------------
Credit Suisse, guaranteeing commercial paper of:
Queensland Alumina Ltd.:
5.90%, 9/22/95 2,765,000 2,727,388
5.95%, 7/17/95 6,000,000 5,984,133
--------------------------------------------------------------------------------
Mitsubishi Bank Ltd., guaranteeing commercial
paper of:
DIC Americas, Inc.:
5.90%, 9/18/95 5,000,000 4,935,264
5.98%, 7/12/95 9,500,000 9,482,641
Mitsubishi Motors Credit of America:
5.89%--5.93%, 9/29/95 10,000,000 9,852,250
--------------------------------------------------------------------------------
Sanwa Bank Ltd., guaranteeing commercial paper of:
Orix America, Inc.:
5.89%--6.04%, 7/31/95(2) 7,000,000 6,964,891
5.92%, 10/16/95(2) 3,500,000 3,438,416
6.05%, 7/28/95(2) 5,000,000 4,977,313
5.90%, 9/15/95(2) 4,500,000 4,443,950
------------
Total Letters of Credit (Cost $52,806,246) 52,806,246
</TABLE>
5 Oppenheimer Money Market Fund, Inc.
<PAGE>
- -------------------------------------------------------------------------------
STATEMENT OF INVESTMENTS (Unaudited) (Continued)
- -------------------------------------------------------------------------------
<TABLE>
<CAPTION>
FACE AMORTIZED COST
AMOUNT SEE NOTE 1
<S> <C> <C>
- ---------------------------------------------------------------------------------------------------------------
SHORT-TERM NOTES--79.5%
- ---------------------------------------------------------------------------------------------------------------
BANKS--5.1% Barnett Banks, Inc., 6.02%, 7/7/95 $20,000,000 $19,979,933
-----------------------------------------------------------------------------
Chemical Banking Corp.:
5.60%, 12/8/95 5,000,000 4,875,556
5.85%, 9/29/95 15,000,000 14,780,625
-----------------------------------------------------------------------------
CoreStates Capital Corp., 6.11%, 7/24/95(1) 5,000,000 5,000,000
------------
44,636,114
- ---------------------------------------------------------------------------------------------------------------
BEVERAGES--1.9% Bass Finance (C.I.) Ltd., guaranteed by Bass PLC:
6.18%, 7/6/95 6,000,000 5,994,850
6.25%, 7/3/95 10,300,000 10,296,424
------------
16,291,274
- ---------------------------------------------------------------------------------------------------------------
BROKER/DEALERS--8.5% CS First Boston Group, Inc.:
5.79%, 10/13/95 5,000,000 4,916,367
5.90%, 10/4/95 10,000,000 9,844,306
5.96%, 10/6/95 5,000,000 4,919,706
5.97%, 7/28/95 12,000,000 11,946,270
-----------------------------------------------------------------------------
Goldman Sachs Group L.P.:
6.06%, 9/21/95(2)(3) 5,000,000 5,000,000
6.08%, 7/13/95(2)(3) 5,000,000 5,000,000
-----------------------------------------------------------------------------
Morgan Stanley Group, Inc.:
5.96%, 7/3/95(1) 29,220,000 29,220,000
6.02%, 7/26/95 3,500,000 3,485,368
------------
74,332,017
- ---------------------------------------------------------------------------------------------------------------
COMMERCIAL FINANCE--6.8% CIT Group Holdings, Inc.:
6.208%, 7/12/95(4) 10,000,000 10,000,000
6.45%, 7/3/95(1) 5,000,000 4,999,199
-----------------------------------------------------------------------------
FINOVA Capital Corp.:
5.97%, 9/21/95 5,000,000 4,932,008
6%--6.07%, 8/30/95 10,000,000 9,899,417
6.03%, 8/31/95 9,000,000 8,908,043
6.07%, 7/28/95 4,000,000 3,981,790
6.07%, 8/4/95 5,000,000 4,971,336
6.08%, 8/9/95 7,000,000 6,953,893
-----------------------------------------------------------------------------
Heller Financial, Inc., 5.95%, 8/14/95 5,000,000 4,963,639
------------
59,609,325
- ---------------------------------------------------------------------------------------------------------------
CONGLOMERATES--4.0% Mitsubishi International Corp.:
5.85%, 10/11/95 5,000,000 4,917,125
5.85%, 9/29/95 7,000,000 6,897,625
5.90%, 9/11/95 5,000,000 4,941,000
5.93%, 8/9/95 8,100,000 8,047,964
5.96%, 8/22/95 6,400,000 6,344,903
-----------------------------------------------------------------------------
Pacific Dunlop Holdings, Inc., guaranteed by
Pacific Dunlop Ltd., 5.88%, 9/29/95(2) 3,724,000 3,669,257
------------
34,817,874
</TABLE>
6 Oppenheimer Money Market Fund, Inc.
<PAGE>
<TABLE>
<CAPTION>
FACE AMORTIZED COST
AMOUNT SEE NOTE 1
<S> <C> <C>
- ------------------------------------------------------------------------------------------------------------------
CONSUMER FINANCE--2.3% Beneficial Corp., 5.72%, 7/5/95(1) $5,000,000 $5,000,000
--------------------------------------------------------------------------------
Sears Roebuck Acceptance Corp.:
5.70%, 9/22/95 10,000,000 9,868,583
5.92%, 8/7/95 5,000,000 4,969,578
------------
19,838,161
- ------------------------------------------------------------------------------------------------------------------
DIVERSIFIED FINANCIAL--8.8% Associates Corp. of North America, 6.25%, 7/3/95 13,500,000 13,495,313
--------------------------------------------------------------------------------
Ford Motor Credit Co.:
5.73%--5.77%, 10/2/95 6,163,000 6,071,135
5.92%, 8/1/95 7,000,000 6,964,316
5.93%, 8/23/95 5,000,000 4,956,349
--------------------------------------------------------------------------------
General Electric Capital Corp., 6.02%, 8/4/95 5,000,000 4,971,572
--------------------------------------------------------------------------------
General Motors Acceptance Corp.:
5.58%, 12/1/95 11,000,000 10,739,135
5.63%, 11/27/95 5,000,000 4,883,490
5.68%, 12/22/95 5,000,000 4,862,733
5.92%, 10/20/95 5,465,000 5,365,246
6.02%, 7/12/95 4,500,000 4,491,723
--------------------------------------------------------------------------------
Household Finance Corp., 5.75%, 9/7/95 10,000,000 9,891,389
------------
76,692,401
- ------------------------------------------------------------------------------------------------------------------
ELECTRONICS--0.6% Mitsubishi Electric Finance America, Inc.,
5.93%, 9/14/95(2) 5,000,000 4,938,229
- ------------------------------------------------------------------------------------------------------------------
HEALTHCARE/DRUGS--1.1% Sandoz Corp.:
5.90%, 9/8/95 5,000,000 4,943,458
6%, 7/26/95 4,800,000 4,780,000
------------
9,723,458
- ------------------------------------------------------------------------------------------------------------------
HEALTHCARE/SUPPLIES & Allergan, Inc.:
SERVICES--1.8% 5.96%, 8/29/95 3,000,000 2,970,697
5.97%, 8/22/95 4,100,000 4,064,644
6.37%, 7/7/95 8,500,000 8,490,976
------------
15,526,317
- ------------------------------------------------------------------------------------------------------------------
INDUSTRIAL SERVICES--0.6% Atlas Copco AB, 5.93%, 9/18/95 5,000,000 4,934,935
- ------------------------------------------------------------------------------------------------------------------
INSURANCE--4.3% Sun Life Insurance Co., 6.158%, 7/5/95(4) 30,000,000 30,000,000
--------------------------------------------------------------------------------
TransAmerica Life Insurance & Annuity Co.,
6.203%, 7/3/95(2)(4) 7,000,000 7,000,000
------------
37,000,000
- ------------------------------------------------------------------------------------------------------------------
LEASING AND FACTORING--6.4% International Lease Finance Corp.:
5.90%, 9/14/95 10,000,000 9,877,083
5.97%, 8/7/95 10,000,000 9,938,642
--------------------------------------------------------------------------------
Sanwa Business Credit Corp.:
5.70%, 9/14/95 5,000,000 4,940,625
5.77%--5.91%, 9/15/95 4,500,000 4,443,855
5.87%, 9/18/95 5,000,000 4,935,593
5.91%, 8/31/95 5,000,000 4,949,929
5.96%, 7/17/95 7,000,000 6,981,458
--------------------------------------------------------------------------------
The Hertz Corp., 5.77%, 9/18/95 10,000,000 9,873,381
------------
55,940,566
</TABLE>
7 Oppenheimer Money Market Fund, Inc.
<PAGE>
- -------------------------------------------------------------------------------
STATEMENT OF INVESTMENTS (Unaudited) (Continued)
- -------------------------------------------------------------------------------
<TABLE>
<CAPTION>
FACE AMORTIZED COST
AMOUNT SEE NOTE 1
<S> <C> <C>
- ---------------------------------------------------------------------------------------------------------------
MANUFACTURING--4.0% Hanson Finance (UK) PLC, guaranteed by Hanson PLC:
5.75%, 9/22/95 $10,000,000 $9,867,431
5.94%, 8/17/95 5,000,000 4,961,225
5.95%, 8/18/95 5,000,000 4,960,333
5.96%, 8/21/95 5,000,000 4,957,783
5.96%, 8/9/95 10,000,000 9,935,433
------------
34,682,205
- ---------------------------------------------------------------------------------------------------------------
OIL-INTEGRATED--1.9% Statoil (Den Norske Stats Oljeselskap AS):
5.97%, 7/6/95 5,000,000 4,995,854
5.97%, 7/7/95 6,600,000 6,593,433
-----------------------------------------------------------------------------
Texaco, Inc., 6.05%, 7/12/95 5,000,000 4,990,757
------------
16,580,044
- ---------------------------------------------------------------------------------------------------------------
SAVINGS & LOANS--1.7% Household Bank FSB:
5.92%, 9/20/95 5,000,000 4,999,667
6%, 8/23/95 5,000,000 4,999,855
6%, 8/30/95 5,000,000 5,000,000
------------
14,999,522
- ---------------------------------------------------------------------------------------------------------------
SPECIAL PURPOSE FINANCIAL--12.9% Beta Finance, Inc., 5.90%, 9/15/95(2) 5,500,000 5,431,494
-----------------------------------------------------------------------------
CIESCO L.P., 5.90%, 8/11/95 2,000,000 1,986,561
-----------------------------------------------------------------------------
Cooperative Association of Tractor Dealers, Inc.:
5.77%, 10/20/95 6,900,000 6,777,243
5.95%, 9/18/95 5,100,000 5,033,410
5.95%, 9/22/95 4,900,000 4,832,782
5.96%, 8/24/95 3,900,000 3,865,134
5.98%, 8/10/95 11,550,000 11,473,257
6%, 8/16/95 2,500,000 2,480,833
6.08%, 7/12/95 3,100,000 3,094,241
-----------------------------------------------------------------------------
Madison Funding Corp.:
5.82%, 9/14/95 5,000,000 4,939,375
5.95%, 8/11/95 10,000,000 9,932,236
5.98%, 7/11/95 4,200,000 4,193,023
-----------------------------------------------------------------------------
New Center Asset Trust:
6%, 7/18/95 3,000,000 2,991,500
6.01%, 8/2/95 5,000,000 4,973,289
6.02%, 8/1/95 5,000,000 4,974,081
6.03%, 7/26/95 5,000,000 4,979,063
6.07%, 7/10/95 5,000,000 4,992,413
6.30%, 7/3/95 15,000,000 14,994,750
-----------------------------------------------------------------------------
WCP Funding, 5.97%, 8/9/95 10,000,000 9,935,325
------------
111,880,010
- ---------------------------------------------------------------------------------------------------------------
SPECIALTY RETAILING--3.2% St. Michael Finance Ltd., guaranteed by Marks &
Spencer PLC:
5.93%, 8/7/95 5,000,000 4,969,526
5.95%, 8/14/95 15,703,000 15,588,804
6.02%, 7/31/95 2,935,000 2,920,276
6.07%, 7/6/95 4,089,000 4,085,553
------------
27,564,159
</TABLE>
8 Oppenheimer Money Market Fund, Inc.
<PAGE>
<TABLE>
<CAPTION>
FACE AMORTIZED COST
AMOUNT SEE NOTE 1
<S> <C> <C>
- ---------------------------------------------------------------------------------------------------------------
TELECOMMUNICATIONS- NYNEX Corp.:
TECHNOLOGY--2.7% 5.72%, 10/13/95 $5,000,000 $4,917,378
5.90%, 9/25/95 4,300,000 4,239,394
5.94%, 9/5/95 5,000,000 4,945,550
6%, 8/31/95 5,000,000 4,949,167
6.03%, 7/31/95 4,500,000 4,477,388
------------
23,528,877
- ---------------------------------------------------------------------------------------------------------------
TOYS--0.9% Hasbro, Inc.:
5.70%, 11/27/95 5,000,000 4,882,042
5.95%, 8/18/95 3,000,000 2,976,200
------------
7,858,242
------------
Total Short-Term Notes (Cost $691,373,730) 691,373,730
- ---------------------------------------------------------------------------------------------------------------
U.S. GOVERNMENT OBLIGATIONS--3.2%
- ---------------------------------------------------------------------------------------------------------------
Export-Import Bank:
6.55%, 7/5/95(1)(2) 629,358 633,317
6.55%, 7/5/95(1)(2) 514,554 517,791
-----------------------------------------------------------------------------
Small Business Administration, 7.50%--10.625%,
7/3/95(4) 25,062,226 26,474,452
------------
Total U.S. Government Obligations
(Cost $27,625,560) 27,625,560
- ---------------------------------------------------------------------------------------------------------------
TOTAL INVESTMENTS, AT AMORTIZED COST 99.8% 867,197,996
- ---------------------------------------------------------------------------------------------------------------
OTHER ASSETS NET OF LIABILITIES 0.2 1,797,254
---------- ------------
NET ASSETS 100.0% $868,995,250
---------- ------------
---------- ------------
<FN>
Short-term notes, direct bank obligations and letters of credit are generally
traded on a discount basis; the interest rate is the discount rate received
by the Fund at the time of purchase. Other securities normally bear interest
at the rates shown.
1. Variable rate security. The interest rate, which is based on specific, or
an index of, current market interest rates, is subject to change periodically
and is the effective rate on June 30, 1995.
2. Security purchased in private placement transaction, without registration
under the Securities Act of 1933 (the Act). The securities are carried at
amortized cost, and amount to $52,014,658, or 6% of the Fund's net assets.
3. In addition to being restricted, the security is considered illiquid by
virtue of the absence of a readily available market or because of legal or
contractual restrictions on resale. Illiquid securities amount to
$10,000,000, or 1.2% of the Fund's net assets, at June 30, 1995. The Fund may
not invest more than 10% of its net assets (determined at the time of
purchase) in illiquid securities.
4. Floating or variable rate obligation maturing in more than one year. The
interest rate, which is based on specific, or an index of, market interest
rates, is subject to change periodically and is the effective rate on June
30, 1995. This instrument may also have a demand feature which allows the
recovery of principal at any time, or at specified intervals not exceeding
one year, on up to 30 days' notice. Maturity date shown represents effective
maturity based on variable rate and, if applicable, demand feature.
See accompanying Notes to Financial Statements.
</TABLE>
9 Oppenheimer Money Market Fund, Inc.
<PAGE>
- -------------------------------------------------------------------------------
STATEMENT OF ASSETS AND LIABILITIES June 30, 1995 (Unaudited)
- -------------------------------------------------------------------------------
<TABLE>
<S> <C>
- ------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------
ASSETS Investments, at amortized cost--see accompanying statement $867,197,996
--------------------------------------------------------------------------
Cash 4,680,373
--------------------------------------------------------------------------
Receivables:
Shares of capital stock sold 25,298,133
Interest and principal paydowns 1,984,325
--------------------------------------------------------------------------
Other 651,162
------------
Total assets 899,811,989
- ------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------
LIABILITIES Payables and other liabilities:
Shares of capital stock redeemed 29,035,953
Dividends 1,527,788
Transfer and shareholder servicing agent fees 37,478
Directors' fees 13,781
Other 201,739
------------
Total liabilities 30,816,739
- ------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------
NET ASSETS $868,995,250
------------
------------
- ------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------
COMPOSITION OF Par value of shares of capital stock $ 86,872,901
NET ASSETS --------------------------------------------------------------------------
Additional paid-in capital 781,856,112
--------------------------------------------------------------------------
Accumulated net realized gain from investment transactions 266,237
------------
Net assets--applicable to 868,729,013 shares of
capital stock outstanding $868,995,250
------------
------------
- ------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------
NET ASSET VALUE, REDEMPTION PRICE AND OFFERING PRICE PER SHARE $1.00
See accompanying Notes to Financial Statements.
</TABLE>
10 Oppenheimer Money Market Fund, Inc.
<PAGE>
- -------------------------------------------------------------------------------
STATEMENT OF OPERATIONS For the Six Months Ended June 30, 1995 (Unaudited)
- -------------------------------------------------------------------------------
<TABLE>
<S> <C>
- -----------------------------------------------------------------------------------------------------------
- -----------------------------------------------------------------------------------------------------------
INVESTMENT INCOME Interest $26,164,096
- -----------------------------------------------------------------------------------------------------------
- -----------------------------------------------------------------------------------------------------------
EXPENSES Management fees--Note 3 1,840,889
-------------------------------------------------------------------------
Transfer and shareholder servicing agent fees--Note 3 1,325,014
-------------------------------------------------------------------------
Shareholder reports 167,527
-------------------------------------------------------------------------
Registration and filing fees 52,501
-------------------------------------------------------------------------
Directors' fees and expenses 33,756
-------------------------------------------------------------------------
Custodian fees and expenses 27,760
-------------------------------------------------------------------------
Legal and auditing fees 13,885
-------------------------------------------------------------------------
Other 43,400
-----------
Total expenses 3,504,732
- -----------------------------------------------------------------------------------------------------------
- -----------------------------------------------------------------------------------------------------------
NET INVESTMENT INCOME 22,659,364
- -----------------------------------------------------------------------------------------------------------
- -----------------------------------------------------------------------------------------------------------
NET REALIZED GAIN ON INVESTMENTS 317,266
- -----------------------------------------------------------------------------------------------------------
- -----------------------------------------------------------------------------------------------------------
NET INCREASE IN NET ASSETS RESULTING FROM OPERATIONS $22,976,630
-----------
-----------
</TABLE>
- -------------------------------------------------------------------------------
STATEMENTS OF CHANGES IN NET ASSETS
- -------------------------------------------------------------------------------
<TABLE>
<CAPTION>
SIX MONTHS ENDED YEAR ENDED
JUNE 30, 1995 DECEMBER 31,
(UNAUDITED) 1994
<S> <C> <C>
- ----------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------
OPERATIONS Net investment income $ 22,659,364 $ 30,443,600
------------------------------------------------------------------------------
Net realized gain (loss) on investments 317,266 (51,539)
------------ -----------
Net increase in net assets resulting
from operations 22,976,630 30,392,061
- ----------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------
DIVIDENDS AND DISTRIBUTIONS
TO SHAREHOLDERS (22,659,364) (30,443,600)
- ----------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------
CAPITAL STOCK Net increase (decrease) in net assets resulting
TRANSACTIONS from capital stock transactions--Note 2 (60,274,609) 317,726,707
- ----------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------
NET ASSETS Total increase (decrease) (59,957,343) 317,675,168
------------------------------------------------------------------------------
Beginning of period 928,952,593 611,277,425
------------ ------------
End of period $868,995,250 $928,952,593
------------ ------------
------------ ------------
See accompanying Notes to Financial Statements.
</TABLE>
11 Oppenheimer Money Market Fund, Inc.
<PAGE>
- -------------------------------------------------------------------------------
FINANCIAL HIGHLIGHTS
- -------------------------------------------------------------------------------
<TABLE>
<CAPTION>
SIX MONTHS
ENDED
JUNE 30, 1995 YEAR ENDED DECEMBER 31,
(UNAUDITED) 1994 1993 1992 1991 1990
<S> <C> <C> <C> <C> <C> <C>
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
PER SHARE OPERATING DATA:
Net asset value,
beginning of period $1.00 $1.00 $1.00 $1.00 $1.00 $1.00
--------------------------------------------------------------------------------------
Income from investment operations:
Net investment income and net
realized gain on investments .03 .04 .03 .03 .06 .08
--------------------------------------------------------------------------------------
Dividends and distributions
to shareholders (.03) (.04) (.03) (.03) (.06) (.08)
--------------------------------------------------------------------------------------
Net asset value, end of period $1.00 $1.00 $1.00 $1.00 $1.00 $1.00
----- ----- ----- ----- ----- -----
----- ----- ----- ----- ----- -----
--------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------
TOTAL RETURN, AT NET ASSET VALUE(1) 2.75% 3.76% 2.71% 3.47% 5.87% 7.99%
--------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------
RATIOS/SUPPLEMENTAL DATA:
Net assets, end of period
(in millions) $869 $929 $611 $692 $899 $1,082
--------------------------------------------------------------------------------------
Average net assets (in millions) $844 $804 $653 $811 $1,003 $1,033
--------------------------------------------------------------------------------------
Number of shares outstanding
at end of period (in millions) 869 929 611 692 899 1,082
--------------------------------------------------------------------------------------
Ratios to average net assets:
Net investment income 5.42%(2) 3.79% 2.65% 3.42% 5.66% 7.66%
Expenses .84%(2) .82% .87% .88% .77% .74%
<FN>
1. Total returns are not annualized for periods of less than one full year.
2. Annualized.
See accompanying Notes to Financial Statements.
</TABLE>
12 Oppenheimer Money Market Fund, Inc.
<PAGE>
- -------------------------------------------------------------------------------
NOTES TO FINANCIAL STATEMENTS (Unaudited)
- -------------------------------------------------------------------------------
1. SIGNIFICANT Oppenheimer Money Market Fund, Inc. (the Fund)
ACCOUNTING POLICIES is registered under the Investment Company Act of
1940, as amended, as a diversified, open-end
management investment company. The Fund's
investment advisor is Oppenheimer Management
Corporation (the Manager). The following is a
summary of significant accounting policies
consistently followed by the Fund.
-------------------------------------------------
INVESTMENT VALUATION. Portfolio securities are
valued on the basis of amortized cost, which
approximates market value.
-------------------------------------------------
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.
-------------------------------------------------
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 to shareholders. Therefore, no federal
income or excise tax provision is required.
-------------------------------------------------
DIRECTORS' FEES AND EXPENSES. The Fund has
adopted a nonfunded retirement plan for the
Fund's independent directors. Benefits are
based on years of service and fees paid to each
director during the years of service. During
the six months ended June 30, 1995, a provision
of $1,201 was made for the Fund's projected
benefit obligations, and a payment of $2,280
was made to a retired director, resulting in an
accumulated liability of $126,853 at June 30,
1995.
-------------------------------------------------
DISTRIBUTIONS TO SHAREHOLDERS. The Fund intends
to declare dividends from net investment income
each day the New York Stock Exchange is open
for business and pay such dividends monthly. To
effect its policy of maintaining a net asset
value of $1.00 per share, the Fund may withhold
dividends or make distributions of net realized
gains.
-------------------------------------------------
OTHER. Investment transactions are accounted
for on the date the investments are purchased
or sold (trade date). Realized gains and losses
on investments are determined on an identified
cost basis, which is the same basis used for
federal income tax purposes.
- -------------------------------------------------------------------------------
2. CAPITAL STOCK The Fund has authorized 5,000,000,000 shares of
$.10 par value capital stock. Transactions in
shares of capital stock were as follows:
<TABLE>
<CAPTION>
SIX MONTHS ENDED JUNE 30, 1995 YEAR ENDED DECEMBER 31, 1994
--------------------------------- -------------------------------
SHARES AMOUNT SHARES AMOUNT
-------------- -------------- -------------- --------------
<S> <C> <C> <C> <C>
Sold 924,842,625 $924,842,625 1,884,595,724 $1,884,595,724
Dividends and distributions
reinvested 19,926,589 19,926,589 28,594,376 28,594,376
Redeemed (1,005,043,823) (1,005,043,823) (1,595,463,393) (1,595,463,393)
-------------- -------------- -------------- --------------
Net increase (decrease) (60,274,609) $ (60,274,609) 317,726,707 $ 317,726,707
-------------- -------------- -------------- --------------
-------------- -------------- -------------- --------------
</TABLE>
- -------------------------------------------------------------------------------
3. MANAGEMENT FEES Management fees paid to the Manager were in
AND OTHER TRANSACTIONS accordance with the investment advisory agreement
WITH AFFILIATES with the Fund which provides for a fee of .45% on
the first $500 million of average annual net
assets with a reduction of .025% on each
$500 million thereafter, to .375% on net assets in
excess of $1.5 billion. The Manager has agreed to
reimburse the Fund if aggregate expenses (with
specified exceptions) exceed the lesser of 1% of
average annual net assets of the Fund or 25% of
the total annual investment income of the Fund.
Oppenheimer Shareholder Services (OSS), a
division of the Manager, is the transfer and
shareholder servicing agent for the Fund, and
for other registered investment companies.
OSS's total costs of providing such services
are allocated ratably to these companies.
13 Oppenheimer Money Market Fund, Inc.
<PAGE>
- -----------------------------------
OPPENHEIMER MONEY MARKET FUND, INC.
- -----------------------------------
- -------------------------------------------------------------------------------
OFFICERS AND DIRECTORS Leon Levy, Chairman of the Board of Directors
Leo Cherne, Director
Robert G. Galli, Director
Benjamin Lipstein, Director
Elizabeth B. Moynihan, Director
Kenneth A. Randall, Director
Edward V. Regan, Director
Russell S. Reynolds, Jr., Director
Sidney M. Robbins, Director
Donald W. Spiro, Director and President
Pauline Trigere, Director
Clayton K. Yeutter, Director
Carol E. Wolf, Vice President
George C. Bowen, Treasurer
Robert J. Bishop, Assistant Treasurer
Scott Farrar, Assistant Treasurer
Andrew J. Donohue, Secretary
Robert G. Zack, Assistant Secretary
- -------------------------------------------------------------------------------
INVESTMENT ADVISOR Oppenheimer Management Corporation
- -------------------------------------------------------------------------------
DISTRIBUTOR Oppenheimer Funds Distributor, Inc.
- -------------------------------------------------------------------------------
TRANSFER AND SHAREHOLDER Oppenheimer Shareholder Services
SERVICING AGENT
- -------------------------------------------------------------------------------
CUSTODIAN OF Citibank, N.A.
PORTFOLIO SECURIITES
- -------------------------------------------------------------------------------
INDEPENDENT AUDITORS KPMG Peat Marwick LLP
- -------------------------------------------------------------------------------
LEGAL COUNSEL Gordon Altman Butowsky Weitzen Shalov & Wein
The financial statements included herein have
been taken from the records of the Fund without
examination by the independent auditors.
This is a copy of a report to shareholders of
Oppenheimer Money Market Fund, Inc. This report
must be preceded or accompanied by a Prospectus
of Oppenheimer Money Market Fund, Inc. For
material information concerning the Fund, see
the Prospectus. Shares of Oppenheimer funds are
not deposits or obligations of any bank, are
not guaranteed by any bank, and are not insured
by the FDIC or any other agency, and involve
investment risks, including possible loss of
the principal amount invested.
14 Oppenheimer Money Market Fund, Inc.
<PAGE>
- -----------------------
OPPENHEIMERFUNDS FAMILY
- -----------------------
- -------------------------------------------------------------------------------
- -------------------------------------------------------------------------------
OppenheimerFunds offers over 30 funds designed
to fit virtually every investment goal. Whether
you're investing for retirement, your
children's education or tax-free income, we
have the funds to help you seek your objective.
When you invest with OppenheimerFunds, you
can feel comfortable knowing that you are
investing with a respected financial
institution with over 30 years of experience in
helping people just like you reach their
financial goals. And you're investing with a
leader in global, growth stock and flexible
fixed income investments--with over 2.6 million
shareholder accounts and more than $35 billion
under Oppenheimer's management and that of our
affiliates.
At OppenheimerFunds, we don't charge a fee
to exchange shares of eligible funds of the
same class. And you can exchange shares easily
by mail or by telephone.(1) For more
information on OppenheimerFunds, please contact
your financial advisor or call us at
1-800-525-7048 for a prospectus. You may also
write us at the address shown on the back
cover. As always, please read the prospectus
carefully before you invest.
<TABLE>
<S> <C> <C>
- -----------------------------------------------------------------------------------------------
- -----------------------------------------------------------------------------------------------
STOCK FUNDS Discovery Fund Global Fund
Global Emerging Growth Fund(2) Oppenheimer Fund
Target Fund Value Stock Fund
Growth Fund(3) Gold & Special Minerals Fund
- -----------------------------------------------------------------------------------------------
- -----------------------------------------------------------------------------------------------
STOCK & BOND Main Street Income & Growth Fund Equity Income Fund
FUNDS Total Return Fund Asset Allocation Fund
Global Growth & Income Fund
- -----------------------------------------------------------------------------------------------
- -----------------------------------------------------------------------------------------------
BOND FUNDS High Yield Fund Strategic Short-Term Income Fund
Champion High Yield Fund International Bond Fund
Strategic Income & Growth Fund Bond Fund(4)
Strategic Income Fund U.S. Government Trust
Strategic Investment Grade Bond Fund Limited-Term Government Fund
- -----------------------------------------------------------------------------------------------
- -----------------------------------------------------------------------------------------------
TAX-EXEMPT New York Tax-Exempt Fund(5) New Jersey Tax-Exempt Fund(5)
FUNDS California Tax-Exempt Fund(5) Tax-Free Bond Fund
Pennsylvania Tax-Exempt Fund(5) Insured Tax-Exempt Bond Fund
Florida Tax-Exempt Fund(5) Intermediate Tax-Exempt Bond Fund
- -----------------------------------------------------------------------------------------------
- -----------------------------------------------------------------------------------------------
MONEY MARKET Money Market Fund Cash Reserves
FUNDS
</TABLE>
1. Exchange privileges are subject to change or termination.
2. Formerly Global Bio-Tech Fund.
3. Formerly Special Fund.
4. Formerly Investment Grade Bond Fund.
5. Available only to residents of certain states.
OppenheimerFunds are distributed by Oppenheimer Funds
Distributor, Inc., Two World Trade Center, New York, NY
10048-0203.
-C- Copyright 1995 Oppenheimer Management Corporation. All
rights reserved.
15 Oppenheimer Money Market Fund
<PAGE>
INFORMATION
GENERAL INFORMATION
Monday-Friday 8:30 a.m.-8 p.m. ET
Saturday 10 a.m.-2 p.m. ET
1-800-525-7048
TELEPHONE TRANSACTIONS
Monday-Friday 8:30 a.m.-8 p.m. ET
1-800-852-8457
PHONELINK
24 hours a day, automated information and transactions
1-800-533-3310
TELECOMMUNICATIONS DEVICE
FOR THE DEAF (TDD)
Monday-Friday 8:30 a.m.-8 p.m. ET
1-800-843-4461
OPPENHEIMERFUNDS
INFORMATION HOTLINE
24 hours a day, timely and insightful messages on the economy and issues that
affect your investments
1-800-835-3104
RS0200.001.0695 August 31, 1995
"How May I Help You?"
As an OppenheimerFunds shareholder, you have some special privileges. Whether
it's automatic investment plans, informative newsletters and hotlines, or
ready account access, you can benefit from services designed to make
investing simple.
And when you need help, our Customer Service Representatives are only a
toll-free phone call away. They can provide information about your account
and handle administrative requests. You can reach them at our General
Information number.
When you want to make a transaction, you can do it easily by calling our
toll-free Telephone Transactions number. And, by enrolling in AccountLink, a
convenient service that "links" your OppenheimerFunds accounts and your bank
checking or savings account, you can use the Telephone Transactions number to
make investments.
For added convenience, you can get automated information with
OppenheimerFunds PhoneLink service, available 24 hours a day, 7 days a week.
PhoneLink gives you access to a variety of fund, account, and market
information. Of course, you can always speak with a Customer Service
Representative during the General Information hours shown at the left.
[Photo]
Jennifer Leonard, Customer Service Representative
Oppenheimer Shareholder Services
You can count on us whenever you need assistance. That's why the
International Customer Service Association, an independent, nonprofit
organization made up of over 3,200 customer service management professionals
from around the country, honored the OppenheimerFunds' transfer agent,
Oppenheimer Shareholder Services, with their Award of Excellence in 1993.
So call us today--we're here to help.
- --------------------------------------------------------------------------------
--------------
[Logo] Bulk Rate
OPPENHEIMER FUNDS DISTRIBUTOR, INC. U.S. Postage
P.O. Box 5270 PAID
Denver, CO 80217-5270 Permit No. 469
Denver, CO
--------------
