<PAGE> PAGE 1
000 A000000 04/30/98
000 C000000 0000829801
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0.a
000 J000000 A
001 A000000 OPPENHEIMER MULTI-SECTOR INCOME TRUST
001 B000000 811-5473
001 C000000 2123230200
002 A000000 TWO WORLD TRADE CENTER
002 B000000 NEW YORK
002 C000000 NY
002 D010000 10048
002 D020000 0203
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008 A000001 OPPENHEIMERFUNDS, INC.
008 B000001 A
008 C000001 801-8253
008 D010001 NEW YORK
008 D020001 NY
008 D030001 10048
008 D040001 0203
010 A000001 MITCHELL HUTCHINS ASSET MANAGEMENT INC.
010 B000001 801-13219
010 C010001 NEW YORK
010 C020001 NY
010 C030001 10019
012 A000001 SHAREHOLDER FINANCIAL SERVICES, INC.
012 B000001 84-1817
012 C010001 ENGLEWOOD
012 C020001 CO
012 C030001 80112
012 C040001 3673
<PAGE> PAGE 2
013 A000001 KPMG PEAT MARWICK LLP
013 B010001 DENVER
013 B020001 CO
013 B030001 80202
015 A000001 THE BANK OF NEW YORK
015 B000001 C
015 C010001 NEW YORK
015 C020001 NY
015 C030001 10015
015 E010001 X
018 000000 Y
019 A000000 N
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020 A000001 GOLDMAN, SACHS & CO.
020 B000001 13-5108880
020 C000001 132
020 A000002 PAINEWEBBER, INC.
020 B000002 13-2638166
020 C000002 26
020 A000003 FIRST BOSTON CORP. (THE)
020 B000003 13-5659485
020 C000003 24
020 A000004 R.J. OBRIEN SECURITIES
020 B000004 36-3233364
020 C000004 6
020 A000005 DEUTSCHE BANK
020 B000005 13-2730828
020 C000005 4
020 C000006 0
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020 C000010 0
021 000000 192
022 A000001 ZION FIRST NATIONAL BANK
022 B000001 87-0189025
022 C000001 644400
022 D000001 0
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022 B000002 13-2518466
022 C000002 265139
022 D000002 238602
022 A000003 SALOMON SMITH BARNEY
022 B000003 13-3371860
022 C000003 439500
022 D000003 0
022 A000004 FIRST CHICAGO CAPITAL MARKET
022 B000004 36-3595942
022 C000004 437500
022 D000004 0
022 A000005 MORGAN GUARANTY TRUST CO.
<PAGE> PAGE 3
022 B000005 13-5123346
022 C000005 348200
022 D000005 0
022 A000006 PAINEWEBBER, INC.
022 B000006 13-2638166
022 C000006 270562
022 D000006 1069
022 A000007 GOLDMAN, SACHS & CO.
022 B000007 13-5108880
022 C000007 164951
022 D000007 34503
022 A000008 MERRILL LYNCH, PIERCE, FENNER, & SMITH, INC.
022 B000008 13-5674085
022 C000008 74761
022 D000008 90293
022 A000009 GREENWICH SECURITIES, INC.
022 B000009 13-2697091
022 C000009 55231
022 D000009 48823
022 A000010 SALOMON BROTHERS, INC.
022 B000010 13-3082694
022 C000010 36305
022 D000010 59377
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<PAGE> PAGE 4
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<PAGE> PAGE 5
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<PAGE> PAGE 6
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<PAGE> PAGE 7
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<PAGE> PAGE 8
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<PAGE> PAGE 9
080 A000000 ICI MUTUAL INSURANCE CO.
080 C000000 85000
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087 A020000 683933105
087 A030000 OMS
SIGNATURE GEORGE C. BOWEN
TITLE TREASURER
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 829801
<NAME> Oppenheimer Multi-Sector Income Trust
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> OCT-31-1998
<PERIOD-START> NOV-01-1997
<PERIOD-END> APR-30-1998
<INVESTMENTS-AT-COST> 343,014,579
<INVESTMENTS-AT-VALUE> 349,665,459
<RECEIVABLES> 8,391,952
<ASSETS-OTHER> 40,062
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 358,097,473
<PAYABLE-FOR-SECURITIES> 44,434,427
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 2,418,065
<TOTAL-LIABILITIES> 46,852,492
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 313,979,371
<SHARES-COMMON-STOCK> 29,116,068
<SHARES-COMMON-PRIOR> 29,116,068
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 1,151,658
<ACCUMULATED-NET-GAINS> (8,002,960)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 6,420,228
<NET-ASSETS> 311,244,981
<DIVIDEND-INCOME> 201,497
<INTEREST-INCOME> 12,693,581
<OTHER-INCOME> 0
<EXPENSES-NET> 1,568,510
<NET-INVESTMENT-INCOME> 11,326,568
<REALIZED-GAINS-CURRENT> 492,296
<APPREC-INCREASE-CURRENT> 2,682,718
<NET-CHANGE-FROM-OPS> 14,501,582
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 12,228,747
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 0
<NUMBER-OF-SHARES-REDEEMED> 0
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 2,272,835
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> (8,495,256)
<OVERDISTRIB-NII-PRIOR> 249,479
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 998,961
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1,568,510
<AVERAGE-NET-ASSETS> 310,523,000
<PER-SHARE-NAV-BEGIN> 10.61
<PER-SHARE-NII> 0.39
<PER-SHARE-GAIN-APPREC> 0.11
<PER-SHARE-DIVIDEND> 0.42
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 10.69
<EXPENSE-RATIO> 1.02
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.00
</TABLE>
<PAGE>
Shareholder Meeting
On April 16, 1998, a special shareholder meeting was held at which the five
Trustees identified below were elected and the selection of KPMG Peat Marwick
LLP as the independent certified public accountants and auditors of the Trust
for the fiscal year beginning November 1, 1997 was ratified (Proposal
No. 1) as described in the Trust's proxy statement for that meeting. The
following is a report of the votes cast:
<TABLE>
<CAPTION>
Withheld/ Broker
Nominee/Proposal For Against Abstain Total Non-Votes
Trustees
<S> <C> <C> <C> <C> <C>
Robert G. Galli 24,869,009.762 0 220,364.347 25,089,374.109 2,261,840
Benjamin Lipstein 24,869,009.762 0 220,364.347 25,089,374.109 2,261,840
Kenneth A. Randall 24,869,009.762 0 220,364.347 25,089,374.109 2,261,840
Edward V. Regan 24,869,009.762 0 220,364.347 25,089,374.109 2,261,840
Russell S. Reynolds 24,869,009.762 0 220,364.347 25,089,374.109 2,261,840
Proposal No. 1 24,756,395.153 78,775.407 254,203.549 25,089,374.109 2,261,840
</TABLE>