N.A. - Information is not statistically meaningful due to an insufficient number of portfolios in the composite for the entire year. Performance results include the reinvestment of all income. Past performance is no guarantee of future results.
Oppenheimer Investment Management LLC (“OIM”) is a federally registered investment adviser. OIM is a subsidiary of Oppenheimer Asset Management Inc., a federally registered investment adviser and an affiliate of Oppenheimer & Co. Inc., a federally registered investment adviser and broker-dealer. Oppenheimer Investment Management LLC claims compliance with the Global Investment Performance Standards (GIPS®). Contact Cyndi Collins at (317) 843-3607, Email cyndi.collins@opco.com for a full disclosure presentation that complies with the requirements of the Global Investment Performance Standards (GIPSŪ) adopted by the CFA Institute (formerly known as The Association for Investment Management and Research or AIMR) and for a list and description of all composites maintained by OIM.
The OIM High Yield Fixed Income Composite was created July 1, 2005. All performance shown prior to the third quarter, 2005 is that of the High Yield Fixed Income composite that was managed by OIM's Fixed Income portfolio team at its prior firm during the period shown using the same investment strategy that the team currently uses in managing High Yield fixed income accounts at OIM. The performance shown prior to the third quarter 2005 was calculated on the basis of records obtained from such prior firm, which are deemed reliable by OIM. The information sets forth both the total return of the composite managed at OIM and the composite at the prior firm. Performance is expressed in U.S. dollars. Performance information shown for the composite is presented gross and net of investment management fees. Returns have been reduced by transaction costs and include the reinvestment of all income. For performance information prior to the third quarter 2005, the net returns reflect the deduction of actual fees charged at the prior firm. Past performance of the composite managed at the prior firm does not necessarily indicate how the OIM High Yield Fixed Income Composite will perform in the future. The performance information gives some indication of the risks of an investment in the OIM High Yield Fixed Income Composite, which are similar to the risks of an investment in the composite managed at the prior firm. The annual composite dispersion presented is an asset-weighted standard deviation calculated for the accounts in the composite the entire year. Additional information regarding the policies for calculating and reporting returns is available upon request. Please see OIM's Form ADV-Part II for a description of advisory fees and other detailed information.
The BofA ML High Yield Master Index is a capitalization-weighted index that provides a broad measure of the performance of the non-investment grade US domestic bond market. The index is limited to US domestic and Yankee markets. Bonds must have greater than 1 year remaining to final maturity, at least $100 million face outstanding, be US dollar pay, have a fixed coupon schedule with a credit rating below investment grade not in default. An index is unmanaged and is not available for direct investment.
The High Yield Fixed Income Composite consists of fully discretionary fixed income portfolios investing primarily in high yield corporate bonds and other distressed securities, U.S. government securities, taxable municipal bonds and non-investment grade bonds. The composite is measured against the BofA/Merrill Lynch High Yield Master II Index.
|
