OPPENHEIMER STRATEGIC FUNDS TRUST
NSAR-A, 1998-05-29
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<PAGE>      PAGE  1
000 A000000 03/31/98
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
007 C010100  1
007 C020100 OPPENHEIMER STRATEGIC INCOME FUND
007 C030100 N
007 C010200  2
007 C010300  3
007 C010400  4
007 C010500  5
007 C010600  6
007 C010700  7
007 C010800  8
007 C010900  9
007 C011000 10
008 A00AA01 OPPENHEIMERFUNDS, INC.
008 B00AA01 A
008 C00AA01 801-8253
008 D01AA01 NEW YORK
008 D02AA01 NY
008 D03AA01 10048
008 D04AA01 0203
011 A00AA01 OPPENHEIMERFUNDS DISTRIBUTOR, INC.
011 B00AA01 8-22992
011 C01AA01 NEW YORK
011 C02AA01 NY
011 C03AA01 10048
011 C04AA01 0203
012 A00AA01 OPPENHEIMERFUNDS SERVICES
012 B00AA01 84-1562
012 C01AA01 ENGLEWOOD
012 C02AA01 CO
<PAGE>      PAGE  2
012 C03AA01 80112
013 A00AA01 DELOITTE & TOUCHE LLP
013 B01AA01 DENVER
013 B02AA01 CO
013 B03AA01 80202
015 A00AA01 THE BANK OF NEW YORK
015 B00AA01 C
015 C01AA01 NEW YORK
015 C02AA01 NY
015 C03AA01 10015
015 E01AA01 X
018  00AA00 Y
019 A00AA00 Y
019 B00AA00   49
019 C00AA00 OPPENHEIMR
020 A000001 PAINEWEBBER, INC.
020 B000001 13-2638166
020 C000001    138
020 A000002 AUTRANET, INC.
020 B000002 13-2961507
020 C000002     96
020 A000003 GOLDMAN, SACHS & CO.
020 B000003 13-5108880
020 C000003     80
020 A000004 MERRILL LYNCH, PIERCE, FENNER, & SMITH, INC.
020 B000004 13-5674085
020 C000004     68
020 A000005 DEUTSCHE BANK
020 B000005 13-2730828
020 C000005     67
020 A000006 CAPITAL INSTITUTIONAL SERVICES, INC.
020 B000006 75-1565705
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020 C000007     45
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022 A000002 SALOMON BROTHERS, INC.
<PAGE>      PAGE  3
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022 C000002   1688802
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022 A000003 GOLDMAN, SACHS & CO.
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022 C000004    984881
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022 C000008    254730
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022 B000009 87-0189025
022 C000009    512900
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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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070 J020100 Y
070 K010100 Y
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070 L020100 Y
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070 O010100 Y
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070 R020100 N
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<PAGE>      PAGE  8
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072 J000100      625
072 K000100      623
072 L000100      149
072 M000100       50
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074 D000100  8403528
074 E000100   264660
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074 M000100     3067
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074 O000100  1441680
074 P000100      918
074 Q000100        0
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<PAGE>      PAGE  9
074 R040100    34910
074 S000100        0
074 T000100  8638350
074 U010100   844165
074 U020100   798371
074 V010100     4.92
074 V020100     4.93
074 W000100   0.0000
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074 Y000100  1230743
075 A000100        0
075 B000100  8196506
076  000100     0.00
028 A010200         0
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035  000200      0
036 B000200      0
042 A000200   0
042 B000200   0
042 C000200   0
042 D000200 100
042 E000200   0
042 F000200   0
042 G000200   0
<PAGE>      PAGE  10
042 H000200   0
043  000200      0
044  000200      0
062 A000200 Y
062 B000200   0.0
062 C000200   0.0
062 D000200   0.0
062 E000200   0.0
062 F000200   0.0
062 G000200   0.0
062 H000200   0.0
062 I000200   0.0
062 J000200   0.0
062 K000200   0.0
062 L000200   0.0
062 M000200   0.0
062 N000200   0.0
062 O000200   0.0
062 P000200   0.0
062 Q000200   0.0
062 R000200   0.0
070 A010200 N
070 A020200 N
070 B010200 N
070 B020200 N
070 C010200 N
070 C020200 N
070 D010200 N
070 D020200 N
070 E010200 N
070 E020200 N
070 F010200 N
070 F020200 N
070 G010200 N
070 G020200 N
070 H010200 N
070 H020200 N
070 I010200 N
070 I020200 N
070 J010200 N
070 J020200 N
070 K010200 N
070 K020200 N
070 L010200 N
070 L020200 N
070 M010200 N
070 M020200 N
070 N010200 N
070 N020200 N
070 O010200 N
070 O020200 N
<PAGE>      PAGE  11
070 P010200 N
070 P020200 N
070 Q010200 N
070 Q020200 N
070 R010200 N
070 R020200 N
071 A000200         0
071 B000200         0
071 C000200         0
071 D000200    0
072 A000200  6
072 B000200        0
072 C000200        0
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072 O000200        0
072 P000200        0
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072 R000200        0
072 S000200        0
072 T000200        0
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072 W000200        0
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073 A010200   0.0000
073 A020200   0.0000
073 B000200   0.0000
073 C000200   0.0000
074 N000200        0
074 T000200        0
075 A000200        0
075 B000200        0
<PAGE>      PAGE  12
035  000300      0
036 B000300      0
071 A000300         0
071 B000300         0
071 C000300         0
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072 A000300  0
072 B000300        0
072 C000300        0
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072 E000300        0
072 F000300        0
072 G000300        0
072 H000300        0
071 A000400         0
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071 D000400    0
072 A000400  0
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072 E000400        0
072 F000400        0
072 G000400        0
072 H000400        0
071 A000500         0
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071 C000500         0
071 D000500    0
072 A000500  0
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072 C000500        0
072 D000500        0
072 E000500        0
072 F000500        0
072 G000500        0
072 H000500        0
071 A000600         0
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071 C000600         0
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072 A000600  0
072 B000600        0
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072 D000600        0
072 E000600        0
072 F000600        0
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071 A000700         0
<PAGE>      PAGE  13
071 B000700         0
071 C000700         0
071 D000700    0
072 A000700  0
072 B000700        0
072 C000700        0
072 D000700        0
072 E000700        0
072 F000700        0
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071 A000800         0
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071 D001000    0
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072 H001000        0
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-A
<SERIES>                                                                 
   <NUMBER>          1
   <NAME>            OPPENHEIMER STRATEGIC INCOME FUND
       
<S>                                                                                           <C>
<PERIOD-TYPE>                                                                                   6-MOS
<FISCAL-YEAR-END>                                                                          SEP-30-1998
<PERIOD-START>                                                                             OCT-01-1997
<PERIOD-END>                                                                               MAR-31-1998
<INVESTMENTS-AT-COST>                                                               9,144,313,717
<INVESTMENTS-AT-VALUE>                                                              9,278,837,989
<RECEIVABLES>                                                                         836,812,475
<ASSETS-OTHER>                                                                             58,660
<OTHER-ITEMS-ASSETS>                                                                    4,570,675
<TOTAL-ASSETS>                                                                     10,120,279,799
<PAYABLE-FOR-SECURITIES>                                                            1,441,680,049
<SENIOR-LONG-TERM-DEBT>                                                                         0
<OTHER-ITEMS-LIABILITIES>                                                              40,249,898
<TOTAL-LIABILITIES>                                                                 1,481,929,947
<SENIOR-EQUITY>                                                                                 0
<PAID-IN-CAPITAL-COMMON>                                                            8,659,522,136
<SHARES-COMMON-STOCK>                                                                 844,165,321
<SHARES-COMMON-PRIOR>                                                                 801,890,287
<ACCUMULATED-NII-CURRENT>                                                              24,377,154
<OVERDISTRIBUTION-NII>                                                                          0
<ACCUMULATED-NET-GAINS>                                                              (170,904,462)
<OVERDISTRIBUTION-GAINS>                                                                        0
<ACCUM-APPREC-OR-DEPREC>                                                              125,355,024
<NET-ASSETS>                                                                        4,149,676,048
<DIVIDEND-INCOME>                                                                       8,057,649
<INTEREST-INCOME>                                                                     383,834,691
<OTHER-INCOME>                                                                                  0
<EXPENSES-NET>                                                                         53,324,171
<NET-INVESTMENT-INCOME>                                                               338,568,169
<REALIZED-GAINS-CURRENT>                                                                  618,113
<APPREC-INCREASE-CURRENT>                                                             (63,346,368)
<NET-CHANGE-FROM-OPS>                                                                 275,839,914
<EQUALIZATION>                                                                                  0
<DISTRIBUTIONS-OF-INCOME>                                                             170,552,157
<DISTRIBUTIONS-OF-GAINS>                                                                        0
<DISTRIBUTIONS-OTHER>                                                                           0
<NUMBER-OF-SHARES-SOLD>                                                               110,685,218
<NUMBER-OF-SHARES-REDEEMED>                                                            91,779,534
<SHARES-REINVESTED>                                                                    23,369,350
<NET-CHANGE-IN-ASSETS>                                                                751,459,342
<ACCUMULATED-NII-PRIOR>                                                                16,158,180
<ACCUMULATED-GAINS-PRIOR>                                                            (171,522,575)
<OVERDISTRIB-NII-PRIOR>                                                                         0
<OVERDIST-NET-GAINS-PRIOR>                                                                      0
<GROSS-ADVISORY-FEES>                                                                  21,338,954
<INTEREST-EXPENSE>                                                                              0
<GROSS-EXPENSE>                                                                        53,324,171
<AVERAGE-NET-ASSETS>                                                                4,034,835,271
<PER-SHARE-NAV-BEGIN>                                                                           4.95
<PER-SHARE-NII>                                                                                 0.21
<PER-SHARE-GAIN-APPREC>                                                                        (0.03)
<PER-SHARE-DIVIDEND>                                                                            0.21
<PER-SHARE-DISTRIBUTIONS>                                                                       0.00
<RETURNS-OF-CAPITAL>                                                                            0.00
<PER-SHARE-NAV-END>                                                                             4.92
<EXPENSE-RATIO>                                                                                 0.92
<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-B
<SERIES>                                                                 
   <NUMBER>          1
   <NAME>            OPPENHEIMER STRATEGIC INCOME FUND
       
<S>                                                                                           <C>
<PERIOD-TYPE>                                                                                   6-MOS
<FISCAL-YEAR-END>                                                                          SEP-30-1998
<PERIOD-START>                                                                             OCT-01-1997
<PERIOD-END>                                                                               MAR-31-1998
<INVESTMENTS-AT-COST>                                                               9,144,313,717
<INVESTMENTS-AT-VALUE>                                                              9,278,837,989
<RECEIVABLES>                                                                         836,812,475
<ASSETS-OTHER>                                                                             58,660
<OTHER-ITEMS-ASSETS>                                                                    4,570,675
<TOTAL-ASSETS>                                                                     10,120,279,799
<PAYABLE-FOR-SECURITIES>                                                            1,441,680,049
<SENIOR-LONG-TERM-DEBT>                                                                         0
<OTHER-ITEMS-LIABILITIES>                                                              40,249,898
<TOTAL-LIABILITIES>                                                                 1,481,929,947
<SENIOR-EQUITY>                                                                                 0
<PAID-IN-CAPITAL-COMMON>                                                            8,659,522,136
<SHARES-COMMON-STOCK>                                                                 798,370,804
<SHARES-COMMON-PRIOR>                                                                 705,698,727
<ACCUMULATED-NII-CURRENT>                                                              24,377,154
<OVERDISTRIBUTION-NII>                                                                          0
<ACCUMULATED-NET-GAINS>                                                              (170,904,462)
<OVERDISTRIBUTION-GAINS>                                                                        0
<ACCUM-APPREC-OR-DEPREC>                                                              125,355,024
<NET-ASSETS>                                                                        3,933,426,878
<DIVIDEND-INCOME>                                                                       8,057,649
<INTEREST-INCOME>                                                                     383,834,691
<OTHER-INCOME>                                                                                  0
<EXPENSES-NET>                                                                         53,324,171
<NET-INVESTMENT-INCOME>                                                               338,568,169
<REALIZED-GAINS-CURRENT>                                                                  618,113
<APPREC-INCREASE-CURRENT>                                                             (63,346,368)
<NET-CHANGE-FROM-OPS>                                                                 275,839,914
<EQUALIZATION>                                                                                  0
<DISTRIBUTIONS-OF-INCOME>                                                             141,579,925
<DISTRIBUTIONS-OF-GAINS>                                                                        0
<DISTRIBUTIONS-OTHER>                                                                           0
<NUMBER-OF-SHARES-SOLD>                                                               126,894,255
<NUMBER-OF-SHARES-REDEEMED>                                                            50,916,312
<SHARES-REINVESTED>                                                                    16,694,134
<NET-CHANGE-IN-ASSETS>                                                                751,459,342
<ACCUMULATED-NII-PRIOR>                                                                16,158,180
<ACCUMULATED-GAINS-PRIOR>                                                            (171,522,575)
<OVERDISTRIB-NII-PRIOR>                                                                         0
<OVERDIST-NET-GAINS-PRIOR>                                                                      0
<GROSS-ADVISORY-FEES>                                                                  21,338,954
<INTEREST-EXPENSE>                                                                              0
<GROSS-EXPENSE>                                                                        53,324,171
<AVERAGE-NET-ASSETS>                                                                3,686,817,386
<PER-SHARE-NAV-BEGIN>                                                                           4.96
<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>                                                                             4.93
<EXPENSE-RATIO>                                                                                 1.68
<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-C
<SERIES>                                                                 
   <NUMBER>          1
   <NAME>            OPPENHEIMER STRATEGIC INCOME FUND
       
<S>                                                                                           <C>
<PERIOD-TYPE>                                                                                   6-MOS
<FISCAL-YEAR-END>                                                                          SEP-30-1998
<PERIOD-START>                                                                             OCT-01-1997
<PERIOD-END>                                                                               MAR-31-1998
<INVESTMENTS-AT-COST>                                                               9,144,313,717
<INVESTMENTS-AT-VALUE>                                                              9,278,837,989
<RECEIVABLES>                                                                         836,812,475
<ASSETS-OTHER>                                                                             58,660
<OTHER-ITEMS-ASSETS>                                                                    4,570,675
<TOTAL-ASSETS>                                                                     10,120,279,799
<PAYABLE-FOR-SECURITIES>                                                            1,441,680,049
<SENIOR-LONG-TERM-DEBT>                                                                         0
<OTHER-ITEMS-LIABILITIES>                                                              40,249,898
<TOTAL-LIABILITIES>                                                                 1,481,929,947
<SENIOR-EQUITY>                                                                                 0
<PAID-IN-CAPITAL-COMMON>                                                            8,659,522,136
<SHARES-COMMON-STOCK>                                                                 112,374,448
<SHARES-COMMON-PRIOR>                                                                  84,230,913
<ACCUMULATED-NII-CURRENT>                                                              24,377,154
<OVERDISTRIBUTION-NII>                                                                          0
<ACCUMULATED-NET-GAINS>                                                              (170,904,462)
<OVERDISTRIBUTION-GAINS>                                                                        0
<ACCUM-APPREC-OR-DEPREC>                                                              125,355,024
<NET-ASSETS>                                                                          551,796,432
<DIVIDEND-INCOME>                                                                       8,057,649
<INTEREST-INCOME>                                                                     383,834,691
<OTHER-INCOME>                                                                                  0
<EXPENSES-NET>                                                                         53,324,171
<NET-INVESTMENT-INCOME>                                                               338,568,169
<REALIZED-GAINS-CURRENT>                                                                  618,113
<APPREC-INCREASE-CURRENT>                                                             (63,346,368)
<NET-CHANGE-FROM-OPS>                                                                 275,839,914
<EQUALIZATION>                                                                                  0
<DISTRIBUTIONS-OF-INCOME>                                                              18,183,210
<DISTRIBUTIONS-OF-GAINS>                                                                        0
<DISTRIBUTIONS-OTHER>                                                                           0
<NUMBER-OF-SHARES-SOLD>                                                                37,038,593
<NUMBER-OF-SHARES-REDEEMED>                                                            11,469,997
<SHARES-REINVESTED>                                                                     2,574,939
<NET-CHANGE-IN-ASSETS>                                                                751,459,342
<ACCUMULATED-NII-PRIOR>                                                                16,158,180
<ACCUMULATED-GAINS-PRIOR>                                                            (171,522,575)
<OVERDISTRIB-NII-PRIOR>                                                                         0
<OVERDIST-NET-GAINS-PRIOR>                                                                      0
<GROSS-ADVISORY-FEES>                                                                  21,338,954
<INTEREST-EXPENSE>                                                                              0
<GROSS-EXPENSE>                                                                        53,324,171
<AVERAGE-NET-ASSETS>                                                                  472,782,028
<PER-SHARE-NAV-BEGIN>                                                                           4.95
<PER-SHARE-NII>                                                                                 0.19
<PER-SHARE-GAIN-APPREC>                                                                        (0.04)
<PER-SHARE-DIVIDEND>                                                                            0.19
<PER-SHARE-DISTRIBUTIONS>                                                                       0.00
<RETURNS-OF-CAPITAL>                                                                            0.00
<PER-SHARE-NAV-END>                                                                             4.91
<EXPENSE-RATIO>                                                                                 1.67
<AVG-DEBT-OUTSTANDING>                                                                          0
<AVG-DEBT-PER-SHARE>                                                                            0.00
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6                        
<CIK>                850134
<NAME>               OPPENHEIMER STRATEGIC INCOME FUND-Y
<SERIES>                                                                 
   <NUMBER>          1
   <NAME>            OPPENHEIMER STRATEGIC INCOME FUND
       
<S>                                                                                           <C>
<PERIOD-TYPE>                                                                                   6-MOS
<FISCAL-YEAR-END>                                                                          SEP-30-1998
<PERIOD-START>                                                                             OCT-01-1997
<PERIOD-END>                                                                               MAR-31-1998
<INVESTMENTS-AT-COST>                                                               9,144,313,717
<INVESTMENTS-AT-VALUE>                                                              9,278,837,989
<RECEIVABLES>                                                                         836,812,475
<ASSETS-OTHER>                                                                             58,660
<OTHER-ITEMS-ASSETS>                                                                    4,570,675
<TOTAL-ASSETS>                                                                     10,120,279,799
<PAYABLE-FOR-SECURITIES>                                                            1,441,680,049
<SENIOR-LONG-TERM-DEBT>                                                                         0
<OTHER-ITEMS-LIABILITIES>                                                              40,249,898
<TOTAL-LIABILITIES>                                                                 1,481,929,947
<SENIOR-EQUITY>                                                                                 0
<PAID-IN-CAPITAL-COMMON>                                                            8,659,522,136
<SHARES-COMMON-STOCK>                                                                     702,559
<SHARES-COMMON-PRIOR>                                                                           0
<ACCUMULATED-NII-CURRENT>                                                              24,377,154
<OVERDISTRIBUTION-NII>                                                                          0
<ACCUMULATED-NET-GAINS>                                                              (170,904,462)
<OVERDISTRIBUTION-GAINS>                                                                        0
<ACCUM-APPREC-OR-DEPREC>                                                              125,355,024
<NET-ASSETS>                                                                            3,450,494
<DIVIDEND-INCOME>                                                                       8,057,649
<INTEREST-INCOME>                                                                     383,834,691
<OTHER-INCOME>                                                                                  0
<EXPENSES-NET>                                                                         53,324,171
<NET-INVESTMENT-INCOME>                                                               338,568,169
<REALIZED-GAINS-CURRENT>                                                                  618,113
<APPREC-INCREASE-CURRENT>                                                             (63,346,368)
<NET-CHANGE-FROM-OPS>                                                                 275,839,914
<EQUALIZATION>                                                                                  0
<DISTRIBUTIONS-OF-INCOME>                                                                  33,903
<DISTRIBUTIONS-OF-GAINS>                                                                        0
<DISTRIBUTIONS-OTHER>                                                                           0
<NUMBER-OF-SHARES-SOLD>                                                                   746,987
<NUMBER-OF-SHARES-REDEEMED>                                                                50,386
<SHARES-REINVESTED>                                                                         5,958
<NET-CHANGE-IN-ASSETS>                                                                751,459,342
<ACCUMULATED-NII-PRIOR>                                                                16,158,180
<ACCUMULATED-GAINS-PRIOR>                                                            (171,522,575)
<OVERDISTRIB-NII-PRIOR>                                                                         0
<OVERDIST-NET-GAINS-PRIOR>                                                                      0
<GROSS-ADVISORY-FEES>                                                                  21,338,954
<INTEREST-EXPENSE>                                                                              0
<GROSS-EXPENSE>                                                                        53,324,171
<AVERAGE-NET-ASSETS>                                                                    2,071,798
<PER-SHARE-NAV-BEGIN>                                                                           4.91
<PER-SHARE-NII>                                                                                 0.08
<PER-SHARE-GAIN-APPREC>                                                                        (0.01)
<PER-SHARE-DIVIDEND>                                                                            0.07
<PER-SHARE-DISTRIBUTIONS>                                                                       0.00
<RETURNS-OF-CAPITAL>                                                                            0.00
<PER-SHARE-NAV-END>                                                                             4.91
<EXPENSE-RATIO>                                                                                 0.57
<AVG-DEBT-OUTSTANDING>                                                                          0
<AVG-DEBT-PER-SHARE>                                                                            0.00
        

</TABLE>


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