OPPENHEIMER STRATEGIC FUNDS TRUST
NSAR-A, 1997-05-30
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<PAGE>      PAGE  1
000 A000000 03/31/97
000 C000000 850134
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0.a
000 J000000 U
001 A000000 OPPENHEIMER STRATEGIC INCOME FUND
001 B000000 811-5724
001 C000000 3037683200
002 A000000 6803 SOUTH TUCSON WAY
002 B000000 ENGLEWOOD
002 C000000 CO
002 D010000 80112
003  000000 N
004  000000 N
005  000000 N
006  000000 N
007 A000000 Y
007 B000000  1
011 A00AA01 OPPENHEIMERFUNDS DISTRIBUTOR, INC.
011 B00AA01 8-22992
011 C01AA01 NEW YORK
011 C02AA01 NY
011 C03AA01 10048
011 C04AA01 0203
018  00AA00 Y
019 A00AA00 Y
019 B00AA00   49
019 C00AA00 OPPENHEIMR
020 A000001 MORGAN STANLEY & CO., INC.
020 B000001 13-2655998
020 C000001     34
020 A000002 PAINEWEBBER, INC.
020 B000002 13-2638166
020 C000002     24
020 A000003 BEAR STERN SECURITIES CORP.
020 B000003 13-3299429
020 C000003     19
020 A000004 DONALDSON, LUFKIN & JENRETTE SECURITIES CORP.
020 B000004 13-2741729
020 C000004     18
020 A000005 AUTRANET, INC.
020 B000005 13-2961507
020 C000005     13
020 A000006 GOLDMAN, SACHS & CO.
020 B000006 13-5108880
020 C000006     11
020 A000007 FIRST BOSTON CORP. (THE)
<PAGE>      PAGE  2
020 B000007 13-5659485
020 C000007      9
020 A000008 JEFFERIES & CO., INC.
020 B000008 95-2622900
020 C000008      8
020 A000009 DEUTSCHE BANK CAPITAL CORP.
020 B000009 FOREIGN
020 C000009      7
020 A000010 SMITH BARNEY, HARRIS UPHAM & CO., INC.
020 B000010 13-3371860
020 C000010      7
021  000000      166
022 A000001 LEHMAN BROTHERS, INC.
022 B000001 13-2518466
022 C000001   1828324
022 D000001   2467319
022 A000002 SALOMON BROTHERS, INC.
022 B000002 13-3082694
022 C000002   2005594
022 D000002   2185034
022 A000003 MORGAN STANLEY & CO., INC.
022 B000003 13-2655998
022 C000003    831352
022 D000003   1162897
022 A000004 NOMURA SECURITIES INTERNATIONAL, INC.
022 B000004 13-2642206
022 C000004    616174
022 D000004    845935
022 A000005 ZION FIRST NATIONAL BANK
022 B000005 87-0189025
022 C000005   1347700
022 D000005         0
022 A000006 MERRILL LYNCH, PIERCE, FENNER, & SMITH, INC.
022 B000006 13-5674085
022 C000006    748454
022 D000006    352831
022 A000007 GOLDMAN, SACHS & CO.
022 B000007 13-5108880
022 C000007    720159
022 D000007    280371
022 A000008 PAINEWEBBER, INC.
022 B000008 13-2638166
022 C000008    567541
022 D000008    158529
022 A000009 BEAR STEARNS SECURITIES CORP.
022 B000009 13-3299429
022 C000009    194022
022 D000009    380121
022 A000010 GREENWICH SECURITIES, INC.
022 B000010 13-2697091
022 C000010    299924
<PAGE>      PAGE  3
022 D000010    197869
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<PAGE>      PAGE  4
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<PAGE>      PAGE  6
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<PAGE>      PAGE  7
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SIGNATURE   GEORGE BOWEN                                 
TITLE       TREASURER           
 

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

<TABLE> <S> <C>

<ARTICLE> 6                       
<CIK>                850134
<NAME>               Oppenheimer Strategic Income Fund - Class A
<SERIES>                                                                 
   <NUMBER>          1
   <NAME>            Oppenheimer Strategic Income Fund
       
<S>                                                                     <C>
<PERIOD-TYPE>                                                           6-MOS
<FISCAL-YEAR-END>                                                       SEP-30-1997
<PERIOD-START>                                                          OCT-01-1996
<PERIOD-END>                                                            MAR-31-1997
<INVESTMENTS-AT-COST>                                                               7,594,597,713
<INVESTMENTS-AT-VALUE>                                                              7,585,535,929
<RECEIVABLES>                                                                         508,060,323
<ASSETS-OTHER>                                                                             53,899
<OTHER-ITEMS-ASSETS>                                                                   10,803,007
<TOTAL-ASSETS>                                                                      8,104,453,158
<PAYABLE-FOR-SECURITIES>                                                            1,103,803,574
<SENIOR-LONG-TERM-DEBT>                                                                         0
<OTHER-ITEMS-LIABILITIES>                                                              51,416,160
<TOTAL-LIABILITIES>                                                                 1,155,219,734
<SENIOR-EQUITY>                                                                                 0
<PAID-IN-CAPITAL-COMMON>                                                            7,135,375,302
<SHARES-COMMON-STOCK>                                                                 766,130,601
<SHARES-COMMON-PRIOR>                                                                 728,891,642
<ACCUMULATED-NII-CURRENT>                                                               6,358,441
<OVERDISTRIBUTION-NII>                                                                          0
<ACCUMULATED-NET-GAINS>                                                              (195,937,401)
<OVERDISTRIBUTION-GAINS>                                                                        0
<ACCUM-APPREC-OR-DEPREC>                                                                3,437,082
<NET-ASSETS>                                                                        3,680,816,928
<DIVIDEND-INCOME>                                                                       5,311,638
<INTEREST-INCOME>                                                                     322,908,749
<OTHER-INCOME>                                                                                  0
<EXPENSES-NET>                                                                         42,617,383
<NET-INVESTMENT-INCOME>                                                               285,603,004
<REALIZED-GAINS-CURRENT>                                                               95,058,626
<APPREC-INCREASE-CURRENT>                                                            (164,735,077)
<NET-CHANGE-FROM-OPS>                                                                 215,926,553
<EQUALIZATION>                                                                                  0
<DISTRIBUTIONS-OF-INCOME>                                                             155,190,337
<DISTRIBUTIONS-OF-GAINS>                                                                        0
<DISTRIBUTIONS-OTHER>                                                                           0
<NUMBER-OF-SHARES-SOLD>                                                                98,223,090
<NUMBER-OF-SHARES-REDEEMED>                                                            82,154,929
<SHARES-REINVESTED>                                                                    21,170,798
<NET-CHANGE-IN-ASSETS>                                                                658,088,597
<ACCUMULATED-NII-PRIOR>                                                                         0
<ACCUMULATED-GAINS-PRIOR>                                                            (290,996,027)
<OVERDISTRIB-NII-PRIOR>                                                                 6,688,731
<OVERDIST-NET-GAINS-PRIOR>                                                                      0
<GROSS-ADVISORY-FEES>                                                                  17,585,362
<INTEREST-EXPENSE>                                                                              0
<GROSS-EXPENSE>                                                                        42,617,383
<AVERAGE-NET-ASSETS>                                                                3,655,519,664
<PER-SHARE-NAV-BEGIN>                                                                           4.84
<PER-SHARE-NII>                                                                                 0.22
<PER-SHARE-GAIN-APPREC>                                                                        (0.05)
<PER-SHARE-DIVIDEND>                                                                            0.21
<PER-SHARE-DISTRIBUTIONS>                                                                       0.00
<RETURNS-OF-CAPITAL>                                                                            0.00
<PER-SHARE-NAV-END>                                                                             4.80
<EXPENSE-RATIO>                                                                                 0.93
<AVG-DEBT-OUTSTANDING>                                                                          0
<AVG-DEBT-PER-SHARE>                                                                            0.00
        

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

<TABLE> <S> <C>

<ARTICLE> 6                       
<CIK>                850134
<NAME>               Oppenheimer Strategic Income Fund - Class B
<SERIES>                                                                 
   <NUMBER>          1
   <NAME>            Oppenheimer Strategic Income Fund
       
<S>                                                                     <C>
<PERIOD-TYPE>                                                           6-MOS
<FISCAL-YEAR-END>                                                       SEP-30-1997
<PERIOD-START>                                                          OCT-01-1996
<PERIOD-END>                                                            MAR-31-1997
<INVESTMENTS-AT-COST>                                                               7,594,597,713
<INVESTMENTS-AT-VALUE>                                                              7,585,535,929
<RECEIVABLES>                                                                         508,060,323
<ASSETS-OTHER>                                                                             53,899
<OTHER-ITEMS-ASSETS>                                                                   10,803,007
<TOTAL-ASSETS>                                                                      8,104,453,158
<PAYABLE-FOR-SECURITIES>                                                            1,103,803,574
<SENIOR-LONG-TERM-DEBT>                                                                         0
<OTHER-ITEMS-LIABILITIES>                                                              51,416,160
<TOTAL-LIABILITIES>                                                                 1,155,219,734
<SENIOR-EQUITY>                                                                                 0
<PAID-IN-CAPITAL-COMMON>                                                            7,135,375,302
<SHARES-COMMON-STOCK>                                                                 618,447,595
<SHARES-COMMON-PRIOR>                                                                 534,359,593
<ACCUMULATED-NII-CURRENT>                                                               6,358,441
<OVERDISTRIBUTION-NII>                                                                          0
<ACCUMULATED-NET-GAINS>                                                              (195,937,401)
<OVERDISTRIBUTION-GAINS>                                                                        0
<ACCUM-APPREC-OR-DEPREC>                                                                3,437,082
<NET-ASSETS>                                                                        2,977,474,474
<DIVIDEND-INCOME>                                                                       5,311,638
<INTEREST-INCOME>                                                                     322,908,749
<OTHER-INCOME>                                                                                  0
<EXPENSES-NET>                                                                         42,617,383
<NET-INVESTMENT-INCOME>                                                               285,603,004
<REALIZED-GAINS-CURRENT>                                                               95,058,626
<APPREC-INCREASE-CURRENT>                                                            (164,735,077)
<NET-CHANGE-FROM-OPS>                                                                 215,926,553
<EQUALIZATION>                                                                                  0
<DISTRIBUTIONS-OF-INCOME>                                                             108,471,703
<DISTRIBUTIONS-OF-GAINS>                                                                        0
<DISTRIBUTIONS-OTHER>                                                                           0
<NUMBER-OF-SHARES-SOLD>                                                               108,480,414
<NUMBER-OF-SHARES-REDEEMED>                                                            36,901,828
<SHARES-REINVESTED>                                                                    12,509,416
<NET-CHANGE-IN-ASSETS>                                                                658,088,597
<ACCUMULATED-NII-PRIOR>                                                                         0
<ACCUMULATED-GAINS-PRIOR>                                                            (290,996,027)
<OVERDISTRIB-NII-PRIOR>                                                                 6,688,731
<OVERDIST-NET-GAINS-PRIOR>                                                                      0
<GROSS-ADVISORY-FEES>                                                                  17,585,362
<INTEREST-EXPENSE>                                                                              0
<GROSS-EXPENSE>                                                                        42,617,383
<AVERAGE-NET-ASSETS>                                                                2,812,720,231
<PER-SHARE-NAV-BEGIN>                                                                           4.85
<PER-SHARE-NII>                                                                                 0.20
<PER-SHARE-GAIN-APPREC>                                                                        (0.05)
<PER-SHARE-DIVIDEND>                                                                            0.19
<PER-SHARE-DISTRIBUTIONS>                                                                       0.00
<RETURNS-OF-CAPITAL>                                                                            0.00
<PER-SHARE-NAV-END>                                                                             4.81
<EXPENSE-RATIO>                                                                                 1.69
<AVG-DEBT-OUTSTANDING>                                                                          0
<AVG-DEBT-PER-SHARE>                                                                            0.00
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6                       
<CIK>                850134
<NAME>               Oppenheimer Strategic Income Fund - Class C
<SERIES>                                                                 
   <NUMBER>          1
   <NAME>            Oppenheimer Strategic Income Fund
       
<S>                                                                     <C>
<PERIOD-TYPE>                                                           6-MOS
<FISCAL-YEAR-END>                                                       SEP-30-1997
<PERIOD-START>                                                          OCT-01-1996
<PERIOD-END>                                                            MAR-31-1997
<INVESTMENTS-AT-COST>                                                               7,594,597,713
<INVESTMENTS-AT-VALUE>                                                              7,585,535,929
<RECEIVABLES>                                                                         508,060,323
<ASSETS-OTHER>                                                                             53,899
<OTHER-ITEMS-ASSETS>                                                                   10,803,007
<TOTAL-ASSETS>                                                                      8,104,453,158
<PAYABLE-FOR-SECURITIES>                                                            1,103,803,574
<SENIOR-LONG-TERM-DEBT>                                                                         0
<OTHER-ITEMS-LIABILITIES>                                                              51,416,160
<TOTAL-LIABILITIES>                                                                 1,155,219,734
<SENIOR-EQUITY>                                                                                 0
<PAID-IN-CAPITAL-COMMON>                                                            7,135,375,302
<SHARES-COMMON-STOCK>                                                                  60,612,491
<SHARES-COMMON-PRIOR>                                                                  36,100,655
<ACCUMULATED-NII-CURRENT>                                                               6,358,441
<OVERDISTRIBUTION-NII>                                                                          0
<ACCUMULATED-NET-GAINS>                                                              (195,937,401)
<OVERDISTRIBUTION-GAINS>                                                                        0
<ACCUM-APPREC-OR-DEPREC>                                                                3,437,082
<NET-ASSETS>                                                                          290,942,022
<DIVIDEND-INCOME>                                                                       5,311,638
<INTEREST-INCOME>                                                                     322,908,749
<OTHER-INCOME>                                                                                  0
<EXPENSES-NET>                                                                         42,617,383
<NET-INVESTMENT-INCOME>                                                               285,603,004
<REALIZED-GAINS-CURRENT>                                                               95,058,626
<APPREC-INCREASE-CURRENT>                                                            (164,735,077)
<NET-CHANGE-FROM-OPS>                                                                 215,926,553
<EQUALIZATION>                                                                                  0
<DISTRIBUTIONS-OF-INCOME>                                                               8,893,792
<DISTRIBUTIONS-OF-GAINS>                                                                        0
<DISTRIBUTIONS-OTHER>                                                                           0
<NUMBER-OF-SHARES-SOLD>                                                                28,172,096
<NUMBER-OF-SHARES-REDEEMED>                                                             4,906,097
<SHARES-REINVESTED>                                                                     1,245,837
<NET-CHANGE-IN-ASSETS>                                                                658,088,597
<ACCUMULATED-NII-PRIOR>                                                                         0
<ACCUMULATED-GAINS-PRIOR>                                                            (290,996,027)
<OVERDISTRIB-NII-PRIOR>                                                                 6,688,731
<OVERDIST-NET-GAINS-PRIOR>                                                                      0
<GROSS-ADVISORY-FEES>                                                                  17,585,362
<INTEREST-EXPENSE>                                                                              0
<GROSS-EXPENSE>                                                                        42,617,383
<AVERAGE-NET-ASSETS>                                                                  230,903,391
<PER-SHARE-NAV-BEGIN>                                                                           4.83
<PER-SHARE-NII>                                                                                 0.19
<PER-SHARE-GAIN-APPREC>                                                                        (0.03)
<PER-SHARE-DIVIDEND>                                                                            0.19
<PER-SHARE-DISTRIBUTIONS>                                                                       0.00
<RETURNS-OF-CAPITAL>                                                                            0.00
<PER-SHARE-NAV-END>                                                                             4.80
<EXPENSE-RATIO>                                                                                 1.71
<AVG-DEBT-OUTSTANDING>                                                                          0
<AVG-DEBT-PER-SHARE>                                                                            0.00
        

</TABLE>


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