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Rule 24f-2 Notice for Oppenheimer Variable Account Funds
3410 South Galena Street, Denver, Colorado 80231
(Registration No. 2-93177, File No. 811-4108)
NOTICE IS HEREBY GIVEN that Oppenheimer Variable Account Funds, having
previously filed in its registration statement a declaration that an
indefinite number of its shares of beneficial interest were being
registered pursuant to Rule 24f-2 of the Investment Company Act of 1940,
now elects to continue such indefinite registration.
(i) This Notice is being filed for the fiscal year ended December 31,
1993 with respect to Oppenheimer Money Fund, Oppenheimer High
Income Fund, Oppenheimer Bond Fund, Oppenheimer Capital
Appreciation Fund, Oppenheimer Growth Fund, Oppenheimer Multiple
Strategies Fund, Oppenheimer Global Securities Fund and Oppenheimer
Strategic Bond Fund.
(ii) Shares which had been registered other than pursuant to this Rule
remaining unsold at the beginning of the above fiscal year were as
follows:
Oppenheimer Money Fund 35,525,739
Oppenheimer High Income Fund 147,390
Oppenheimer Bond Fund -0-
Oppenheimer Capital Appreciation Fund -0-
Oppenheimer Growth Fund -0-
Oppenheimer Multiple Strategies Fund -0-
Oppenheimer Global Securities Fund -0-
Oppenheimer Strategic Bond Fund -0-
(iii) Shares registered other than pursuant to this Rule during the above
fiscal year were as follows:
Oppenheimer Money Fund 3,157,156
Oppenheimer High Income Fund -0-
Oppenheimer Bond Fund -0-
Oppenheimer Capital Appreciation Fund -0-
Oppenheimer Growth Fund -0-
Oppenheimer Multiple Strategies Fund -0-
Oppenheimer Global Securities Fund -0-
Oppenheimer Strategic Bond Fund -0-
(iv) The number of shares sold during the above fiscal year for each
portfolio was as follows: (1)
Oppenheimer Money Fund 102,985,240
Oppenheimer High Income Fund 10,942,819
Oppenheimer Bond Fund 4,694,025
Oppenheimer Capital Appreciation Fund 4,925,361
Oppenheimer Growth Fund 3,164,464
Oppenheimer Multiple Strategies Fund 6,332,739
Oppenheimer Global Securities Fund 4,921,273
Oppenheimer Strategic Bond Fund* 2,316,566
(v) The number of shares sold during the above fiscal year for each
portfolio in reliance upon registration pursuant to this Rule was
as follows:
Oppenheimer Money Fund 101,836,198
Oppenheimer High Income Fund 10,795,429
Oppenheimer Bond Fund 4,694,025
Oppenheimer Capital Appreciation Fund 4,925,361
Oppenheimer Growth Fund 3,164,464
Oppenheimer Multiple Strategies Fund 6,332,739
Oppenheimer Global Securities Fund 4,921,273
Oppenheimer Strategic Bond Fund* 2,316,566
Pursuant to the requirements of the Investment Company Act of 1940, the
undersigned registrant has caused this notice to be signed on its behalf
this 25th day of February, 1994.
Oppenheimer Variable Account Funds
By /s/ Robert G. Zack
-----------------------------------
Robert G. Zack, Assistant Secretary
_____________
(1) The calculation of the aggregate sales price is made pursuant to Rule
24f-2 of the Investment Company Act of 1940. Based upon an actual
aggregate sales price for which securities of each portfolio were sold
during the previous fiscal year as shown below, reduced by an actual
aggregate redemption price of securities of each portfolio of the issuer
redeemed during such previous fiscal year as shown below, a total fee of
$86,681 is enclosed. Shares previously registered for Oppenheimer Money
Fund remaining unsold at 12/31/93 total 37,533,853. No shares of
Oppenheimer High Income Fund previously registered remain unsold at
12/31/93.
* For the period from May 3, 1993 (commencement of operations) to December
31, 1993.
<TABLE>
<CAPTION>
Difference
Between Value
Value of of Shares Sold
Value of Shares and Value of
Shares Sold Redeemed Shares RedeemedFee
<S> <C> <C> <C> <C>
Oppenheimer Money Fund $102,985,240 ($101,836,198) $ 1,149,508 $ -0- (1)
Oppenheimer High Income
Fund $113,254,844 ($ 76,976,837) $36,278,007 $11,985 (2)
Oppenheimer Bond Fund $ 53,668,794 ($ 15,753,286) $37,915,508 $13,074
Oppenheimer Capital
Appreciation Fund $134,864,285 ($106,719,894) $28,144,391 $ 9,705
Oppenheimer Growth Fund $ 53,547,991 ($ 36,823,721) $16,724,270 $ 5,767
Oppenheimer Multiple
Strategies Fund $ 84,477,261 ($ 23,415,881) $61,061,380 $21,056
Oppenheimer Global
Securities Fund $ 68,947,505 ($ 5,789,067) $63,158,438 $21,779
Oppenheimer Strategic Bond
Fund $ 11,749,598 ($ 2,133,050) $ 9,616,548 $ 3,316
Total Fee $86,681
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________________
(1) Using 1,149,042 shares previously registered valued at $1,149,042.
(2) Using 147,390 shares previously registered valued at $1,523,224.
</TABLE>
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MYER, SWANSON & ADAMS, P.C.
Attorney At Law
The Colorado State Bank Building
1600 Broadway - Suite 1850
Denver, Colorado 80202-4918
Telephone (303) 866-9800
Facsimile (303) 866-9818
February 23, 1994
Oppenheimer Variable Account Funds
3410 South Galena Street
Denver, Colorado 80231
Gentlemen:
In connection with the public offering of the no par value shares of
Oppenheimer Variable Account Funds, a business trust organized under the
laws of the Commonwealth of Massachusetts (the "Trust"), as counsel for
the Trust, we have examined such records and documents and have made such
further investigation and examination as we deem necessary for the purpose
of this opinion.
As of the end of its fiscal year, the Trust was composed of eight separate
series, the Oppenheimer Money Fund, Oppenheimer Bond Fund, Oppenheimer
Growth Fund, Oppenheimer Global Securities Fund, Oppenheimer High Income
Fund, Oppenheimer Multiple Strategies Fund, Oppenheimer Strategic Bond
Fund, and Oppenheimer Capital Appreciation Fund. Each series sells its
shares separately to separate accounts offered by various life insurance
companies pursuant to separate registration statements and prospectuses.
We are advised that during the year ending December 31, 1993, the
following shares of beneficial interest in each series of the Trust were
sold in reliance on the registration of an indefinite number of shares
pursuant to Rule 24f-2 of the Investment Company Act of 1940:
Oppenheimer Oppenheimer Oppenheimer
Money Fund Bond Fund Growth Fund
101,836,198 4,694,025 3,164,464
Oppenheimer High Oppenheimer Capital Oppenheimer Multiple
Income Fund Appreciation Fund Strategies Fund
10,795,429 4,925,361 6,332,739
Oppenheimer Global Oppenheimer Strategic
Securities Fund Bond Fund
4,921,273 2,316,566
It is our opinion that the said shares of beneficial interest in each
series sold by the Trust in reliance on Rule 24f-2 of the Investment
Company Act of 1940 are legally issued and, subject to the matters
mentioned in the next paragraph, fully paid and nonassessable by the
Trust.
Under Massachusetts law, shareholders of the Trust may, under certain
circumstances, be held personally liable as partners for the obligations
of the Trust. The Declaration of Trust does, however, contain an express
disclaimer of shareholder liability for acts or obligations of the Trust
and requires that notice of such disclaimer be given in each agreement,
obligation, or instrument entered into or executed by the Trust or the
Trustees. The Declaration of Trust provides for indemnification out of
the trust property of any shareholder held personally liable for the
obligations of the Trust. The Declaration of Trust also provides that the
Trust shall, upon request, assume the defense of any claim made against
any shareholder for any act or obligation of the Trust and satisfy any
judgment thereon.
Sincerely,
/s/ Allan B. Adams
Allan B. Adams
of MYER, SWANSON, & ADAMS, P.C.
