SECURITIES AND EXCHANGE COMMISSION
INVESTMENT COMPANIES
(Address of principal executive offices) (Zip code)
OppenheimerFunds, Inc.
Two World Financial Center, New York, New York 10281-1008
(Name and address of agent for service)
Top Ten Geographical Holdings | ||||
Canada | 44.3 | % | ||
Australia | 14.6 | |||
United States | 9.8 | |||
Norway | 8.3 | |||
Cayman Islands | 5.4 | |||
Japan | 4.0 | |||
United Kingdom | 3.4 | |||
China | 2.4 | |||
Germany | 2.0 | |||
Singapore | 1.7 |
Top Ten Common Stock Holdings | ||||
Opera Software ASA | 5.2 | % | ||
Xinao Gas Holdings Ltd. | 4.6 | |||
Addax Petroleum Corp. | 3.7 | |||
Riversdale Mining Ltd. | 3.5 | |||
Pacific Rubiales Energy Corp., Legend Shares | 3.2 | |||
DNO International ASA | 3.1 | |||
Felix Resources Ltd. | 2.8 | |||
Thompson Creek Metals Co. | 2.5 | |||
Central African Mining & Exploration Co. plc | 2.5 | |||
Equinox Minerals Ltd. | 2.4 |
10 | OPPENHEIMER INTERNATIONAL SMALL COMPANY FUND
11 | OPPENHEIMER INTERNATIONAL SMALL COMPANY FUND
12 | OPPENHEIMER INTERNATIONAL SMALL COMPANY FUND
13 | OPPENHEIMER INTERNATIONAL SMALL COMPANY FUND
14 | OPPENHEIMER INTERNATIONAL SMALL COMPANY FUND
Comparison of Change in Value of $10,000 Hypothetical Investments in:
15 | OPPENHEIMER INTERNATIONAL SMALL COMPANY FUND
Comparison of Change in Value of $10,000 Hypothetical Investments in:
16 | OPPENHEIMER INTERNATIONAL SMALL COMPANY FUND
Comparison of Change in Value of $10,000 Hypothetical Investments in:
17 | OPPENHEIMER INTERNATIONAL SMALL COMPANY FUND
Comparison of Change in Value of $10,000 Hypothetical Investments in:
18 | OPPENHEIMER INTERNATIONAL SMALL COMPANY FUND
Comparison of Change in Value of $10,000 Hypothetical Investments in:
19 | OPPENHEIMER INTERNATIONAL SMALL COMPANY FUND
20 | OPPENHEIMER INTERNATIONAL SMALL COMPANY FUND
21 | OPPENHEIMER INTERNATIONAL SMALL COMPANY FUND
22 | OPPENHEIMER INTERNATIONAL SMALL COMPANY FUND
Beginning | Ending | Expenses | ||||||||||
Account | Account | Paid During | ||||||||||
Value | Value | 6 Months Ended | ||||||||||
Actual | March 1, 2008 | August 31, 2008 | August 31, 2008 | |||||||||
Class A | $1,000.00 | $ 720.30 | $ 5.08 | |||||||||
Class B | 1,000.00 | 717.30 | 8.81 | |||||||||
Class C | 1,000.00 | 717.60 | 8.42 | |||||||||
Class N | 1,000.00 | 718.90 | 6.90 | |||||||||
Class Y | 1,000.00 | 721.80 | 3.56 | |||||||||
Hypothetical (5% return before expenses) | ||||||||||||
Class A | 1,000.00 | 1,019.25 | 5.96 | |||||||||
Class B | 1,000.00 | 1,014.93 | 10.33 | |||||||||
Class C | 1,000.00 | 1,015.38 | 9.88 | |||||||||
Class N | 1,000.00 | 1,017.14 | 8.09 | |||||||||
Class Y | 1,000.00 | 1,021.01 | 4.17 |
Class | Expense Ratios | |||
Class A | 1.17 | % | ||
Class B | 2.03 | |||
Class C | 1.94 | |||
Class N | 1.59 | |||
Class Y | 0.82 |
23 | OPPENHEIMER INTERNATIONAL SMALL COMPANY FUND
24 | OPPENHEIMER INTERNATIONAL SMALL COMPANY FUND
Shares | Value | |||||||
Common Stocks—89.0% | ||||||||
Consumer Discretionary—3.3% | ||||||||
Auto Components—2.3% | ||||||||
Azure Dynamics Corp., Legend Shares1,2,3 | 20,549,500 | $ | 4,354,528 | |||||
Westport Innovations, Inc.1,3 | 564,286 | 7,116,020 | ||||||
Westport Innovations, Inc., Legend Shares1,3 | 1,935,714 | 24,410,633 | ||||||
35,881,181 | ||||||||
Diversified Consumer Services—0.1% | ||||||||
Shinwa Art Auction Co. Ltd.3 | 3,229 | 1,179,668 | ||||||
Media—0.1% | ||||||||
Village Roadshow Ltd. | 910,217 | 1,318,858 | ||||||
Multiline Retail—0.8% | ||||||||
Don Quijote Co. Ltd. | 750,000 | 13,140,165 | ||||||
Consumer Staples—2.8% | ||||||||
Food Products—2.8% | ||||||||
China Green (Holdings) Ltd. | 20,000,000 | 17,810,009 | ||||||
China Vanguard Group Ltd.3 | 165,000,000 | 12,428,255 | ||||||
Crown Confectionery Co. Ltd. | 32,296 | 1,554,147 | ||||||
Viterra, Inc.1 | 1,000,000 | 11,537,013 | ||||||
43,329,424 | ||||||||
Energy—33.3% | ||||||||
Energy Equipment & Services—1.7% | ||||||||
EnQuest Energy Services Corp., Legend Shares1 | 333,330 | 621,580 | ||||||
Trican Well Service Ltd. | 1,250,000 | 25,240,158 | ||||||
25,861,738 | ||||||||
Oil, Gas & Consumable Fuels—31.6% | ||||||||
Addax Petroleum Corp.4 | 1,500,000 | 57,313,054 | ||||||
Calvalley Petroleum, Inc., Cl. A1,3 | 9,000,000 | 21,529,478 | ||||||
Canoro Resources Ltd. 1,3 | 1,800,000 | 1,271,426 | ||||||
Canoro Resources Ltd., Legend Shares1,3 | 7,200,000 | 5,085,704 | ||||||
CGX Energy, Inc.1 | 100,000 | 143,153 | ||||||
CGX Energy, Inc., Legend Shares1 | 4,400,000 | 6,298,738 | ||||||
Corridor Resources, Inc.1 | 2,500,000 | 13,656,056 | ||||||
Culane Energy Corp.1,3 | 1,750,000 | 9,789,979 | ||||||
DNO International ASA1 | 30,000,000 | 48,219,193 | ||||||
Felix Resources Ltd. | 2,500,000 | 43,299,987 | ||||||
Gulf Keystone Petroleum Ltd.1,3 | 21,500,000 | 10,483,695 | ||||||
Heritage Oil Ltd.1 | 3,500,000 | 12,775,935 | ||||||
Nido Petroleum Ltd.1,3 | 86,000,000 | 22,046,293 | ||||||
Pacific Rubiales Energy Corp.1 | 3,855,926 | 37,549,703 | ||||||
Pacific Rubiales Energy Corp., Legend Shares1,2 | 5,144,072 | 50,093,901 | ||||||
Pan Orient Energy Corp.1 | 975,000 | 7,759,230 | ||||||
Pan Orient Energy Corp., Legend Shares1 | 775,000 | 6,167,593 | ||||||
Petrolifera Petroleum Ltd.1,3 | 4,500,000 | 21,826,144 | ||||||
Riversdale Mining Ltd.1 | 6,000,000 | 53,416,791 | ||||||
Sibir Energy plc1 | 225,708 | 2,386,311 | ||||||
Straits Asia Resources Ltd. | 15,000,000 | 26,772,520 | ||||||
WesternZagros Resources Ltd.1,3 | 12,884,800 | 30,215,815 | ||||||
488,100,699 | ||||||||
Financials—6.8% | ||||||||
Capital Markets—2.1% | ||||||||
Uranium Participation Corp.1,3 | 3,976,300 | 32,355,653 |
F1 | OPPENHEIMER INTERNATIONAL SMALL COMPANY FUND
Shares | Value | |||||||
Commercial Banks—1.8% | ||||||||
Karnataka Bank Ltd. | 2,800,000 | $ | 8,860,488 | |||||
Vozrozhdenie Bank | 500,000 | 19,000,000 | ||||||
27,860,488 | ||||||||
Diversified Financial Services—2.3% | ||||||||
Arques Industries AG3 | 2,250,000 | 30,433,953 | ||||||
World Energy Solutions, Inc.1,3 | 6,000,000 | 4,520,625 | ||||||
34,954,578 | ||||||||
Real Estate Management & Development—0.6% | ||||||||
Funai Zaisan Consultants Co. Ltd.3 | 10,000 | 9,443,390 | ||||||
Health Care—0.0% | ||||||||
Biotechnology—0.0% | ||||||||
Norwood Immunology Ltd.1,2,3 | 14,500,000 | 660,785 | ||||||
Industrials—0.1% | ||||||||
Machinery—0.1% | ||||||||
Fong’s Industries Co. Ltd. | 2,102,000 | 689,481 | ||||||
Information Technology—8.5% | ||||||||
Internet Software & Services—5.2% | ||||||||
Opera Software ASA1,3 | 18,000,000 | 80,328,247 | ||||||
IT Services—2.4% | ||||||||
Travelsky Technology Ltd., Cl. H3 | 60,000,000 | 36,516,926 | ||||||
Software—0.9% | ||||||||
Enablence Technologies, Inc.1,3 | 2,900,000 | 2,785,835 | ||||||
Enablence Technologies, Inc., Legend Shares1,3 | 12,000,000 | 11,527,595 | ||||||
Zaio Corp., Legend Shares1,4 | 500,000 | 138,915 | ||||||
14,452,345 | ||||||||
Materials—28.8% | ||||||||
Chemicals—1.8% | ||||||||
Hanfeng Evergreen, Inc.1 | 3,000,000 | 27,462,799 | ||||||
Metals & Mining—26.1% | ||||||||
Anvil Mining Ltd.1,3 | 5,000,000 | 34,140,139 | ||||||
Avoca Resources Ltd.1 | 8,000,000 | 12,708,772 | ||||||
Central African Mining & Exploration Co. plc1 | 65,000,000 | 39,100,239 | ||||||
Equinox Minerals Ltd.1 | 10,000,000 | 37,671,878 | ||||||
First Quantum Minerals Ltd. | 400,000 | 25,805,236 | ||||||
Forsys Metals Corp.1 | 2,500,000 | 11,654,737 | ||||||
HudBay Minerals, Inc.1 | 3,500,000 | 35,402,147 | ||||||
Ivernia, Inc.1,3 | 11,945,000 | 6,187,371 | ||||||
Ivernia, Inc., Legend Shares1,2,3 | 3,200,000 | 1,657,563 | ||||||
Lundin Mining Corp.1 | 790,000 | 3,779,620 | ||||||
MagIndustries Corp.1 | 4,580,000 | 8,583,726 | ||||||
Mirabela Nickel Ltd.1 | 2,500,000 | 10,383,311 | ||||||
Mitsui Mining Co. Ltd. | 11,000,000 | 37,603,587 | ||||||
Moly Mines Ltd.1 | 4,000,000 | 6,969,297 | ||||||
Panoramic Resources Ltd. | 5,000,000 | 9,333,524 | ||||||
Red Back Mining, Inc.1 | 3,500,000 | 22,579,582 | ||||||
Sino Gold Mining Ltd.1 | 8,000,000 | 29,120,199 | ||||||
Thompson Creek Metals Co.1 | 2,500,000 | 39,202,298 | ||||||
Western Areas NL1 | 4,000,000 | 31,759,674 | ||||||
403,642,900 | ||||||||
Paper & Forest Products—0.9% | ||||||||
Sino-Forest Corp.1 | 750,000 | 14,126,954 | ||||||
Utilities—5.4% | ||||||||
Electric Utilities—0.8% | ||||||||
EOS Russia AB1 | 1,700,000 | 12,676,144 |
F2 | OPPENHEIMER INTERNATIONAL SMALL COMPANY FUND
Shares | Value | |||||||||||||||
Gas Utilities—4.6% | ||||||||||||||||
Xinao Gas Holdings Ltd. | 44,334,000 | $ | 70,551,761 | |||||||||||||
Total Common Stocks (Cost $1,559,586,338) | 1,374,534,184 | |||||||||||||||
Preferred Stocks—0.4% | ||||||||||||||||
Banco Sofisa SA, Preference | 661,700 | 2,634,621 | ||||||||||||||
Village Roadshow Ltd., Cl. A, Preference | 3,220,000 | 3,953,974 | ||||||||||||||
Total Preferred Stocks (Cost $8,646,345) | 6,588,595 | |||||||||||||||
Expiration | Strike | |||||||||||||||
Date | Price | Contracts | Value | |||||||||||||
Options Purchased—2.7% | ||||||||||||||||
Standard and Poor’s 500 Index (The) Put1 | 6/20/09 | $ | 1,100 | 5,400 | $ | 20,196,000 | ||||||||||
Standard and Poor’s 500 Index (The) Put1 | 12/19/08 | 950 | 7,200 | 21,672,000 | ||||||||||||
Total Options Purchased (Cost $43,417,800) | 41,868,000 |
Units | ||||||||||||||||
Rights, Warrants and Certificates—0.6% | ||||||||||||||||
China Vanguard Group Ltd. Wts., Strike Price 1.33HKD, Exp. 11/2/081,2,3 | 22,000,000 | 112,754 | ||||||||||||||
Pacific Rubiales Energy Corp. Wts., Strike Price 7.80CAD, Exp. 7/12/121,2 | 1,999,953 | 8,852,683 | ||||||||||||||
Sikanni Services Ltd. Wts., Strike Price 24CAD, Exp. 9/30/081,2 | 5,000,000 | — | ||||||||||||||
Total Rights, Warrants and Certificates (Cost $1,808,930) | 8,965,437 | |||||||||||||||
Shares | ||||||||||||||||
Investment Companies—7.1% | ||||||||||||||||
PowerShares DB Agriculture Fund1 | 1,500,000 | 53,055,000 | ||||||||||||||
PowerShares DB Commodity Index Tracking Fund1 | 1,500,000 | 56,640,000 | ||||||||||||||
Total Investment Companies (Cost $114,502,167) | 109,695,000 | |||||||||||||||
Total Investments, at Value (Cost $1,727,961,580) | 99.8 | % | 1,541,651,216 | |||||||||||||
Other Assets Net of Liabilities | 0.2 | 3,603,855 | ||||||||||||||
Net Assets | 100.0 | % | $ | 1,545,255,071 | ||||||||||||
HKD Hong Kong Dollar
F3 | OPPENHEIMER INTERNATIONAL SMALL COMPANY FUND
Shares | Gross | Gross | Shares | |||||||||||||
August 31, 2007 | Additions | Reductions | August 31, 2008 | |||||||||||||
Absolute Software Corp. | 2,000,000 | 2,000,000 | b | 4,000,000 | — | |||||||||||
Anvil Mining Ltd. | 4,000,000 | 1,000,000 | — | 5,000,000 | ||||||||||||
Arques Industries AG | 1,750,000 | 500,000 | — | 2,250,000 | ||||||||||||
Azure Dynamics Corp., Legend Shares | 21,000,000 | — | 450,500 | 20,549,500 | ||||||||||||
Calvalley Petroleum, Inc., Cl. A | 8,000,000 | 1,000,000 | — | 9,000,000 | ||||||||||||
Canoro Resources Ltd. | — | 1,800,000 | — | 1,800,000 | ||||||||||||
Canoro Resources Ltd., Legend Shares | — | 7,200,000 | — | 7,200,000 | ||||||||||||
Central African Mining & Exploration Co. plca | 60,000,000 | 5,000,000 | — | 65,000,000 | ||||||||||||
China Vanguard Group Ltd. | 165,000,000 | — | — | 165,000,000 | ||||||||||||
China Vanguard Group Ltd. Wts., Exp. 11/2/08 | 22,000,000 | — | — | 22,000,000 | ||||||||||||
Crown Confectionary Co. Ltd.a | 110,000 | — | 77,704 | 32,296 | ||||||||||||
Culane Energy Corp. | 2,000,000 | 90,000 | 340,000 | 1,750,000 | ||||||||||||
Danal Co. Ltd. | 2,300,000 | — | 2,300,000 | — | ||||||||||||
Duzon Digital Ware Co. Ltd. | 1,200,000 | — | 1,200,000 | — | ||||||||||||
Enablence Technologies, Inc. | — | 3,500,000 | 600,000 | 2,900,000 | ||||||||||||
Enablence Technologies, Inc., Legend Shares | — | 24,000,000 | 12,000,000 | 12,000,000 | ||||||||||||
Fidec Corp. | 11,000 | 3,759 | 14,759 | — | ||||||||||||
Funai Zaisan Consultants Co. Ltd. | 5,000 | 5,000 | b | — | 10,000 | |||||||||||
Gulf Keystone Petroleum Ltd. | 21,500,000 | — | — | 21,500,000 | ||||||||||||
Imaging Dynamics Co. Ltd. | 2,000,000 | — | 2,000,000 | — | ||||||||||||
Imaging Dynamics Co. Ltd., Legend Shares | 4,000,000 | — | 4,000,000 | — | ||||||||||||
Immersive Media Corp. | 2,000,000 | — | 2,000,000 | — | ||||||||||||
Ivernia, Inc. | 9,050,000 | 2,895,000 | — | 11,945,000 | ||||||||||||
Ivernia, Inc., Legend Shares | 3,200,000 | — | — | 3,200,000 | ||||||||||||
Kaboose, Inc. | 8,000,000 | — | 8,000,000 | — | ||||||||||||
Kaboose, Inc., Legend Shares | 1,000,000 | — | 1,000,000 | — | ||||||||||||
Kenedix, Inc. | 38,000 | 2,000 | 40,000 | — | ||||||||||||
Klabin Segall SA | 3,000,000 | — | 3,000,000 | — | ||||||||||||
Macromill, Inc. | 8,000 | 2,000 | 10,000 | — | ||||||||||||
Mobilians Co. Ltd. | 1,554,094 | — | 1,554,094 | — | ||||||||||||
Moly Mines Ltd.a | 5,000,000 | — | 1,000,000 | 4,000,000 | ||||||||||||
Nido Petroleum Ltd. | — | 86,000,000 | — | 86,000,000 | ||||||||||||
Norwood Immunology Ltd. | 14,500,000 | — | — | 14,500,000 | ||||||||||||
Olympus Pacific Minerals, Inc. | 13,000,000 | — | 13,000,000 | — | ||||||||||||
Opera Software ASA | 18,000,000 | — | — | 18,000,000 | ||||||||||||
Oppenheimer Institutional Money Market Fund, Cl. E | 27,040,128 | 1,071,554,377 | 1,098,594,505 | — | ||||||||||||
Pacific Rubiales Energy Corp. (formerly Petro Rubiales Energy Corp.)a | 5,000,559 | 11,355,833 | b | 12,500,466 | b | 3,855,926 | ||||||||||
Pacific Rubiales Energy Corp. (formerly Petro Rubiales Energy Corp.), Legend Sharesa | 38,999,441 | — | 33,855,369 | b | 5,144,072 | |||||||||||
Pacific Rubiales Energy Corp. Wts., Exp. 7/12/12 (formerly Petro Rubiales Energy Corp.)a | 11,999,720 | — | 9,999,767 | b | 1,999,953 | |||||||||||
Petrolifera Petroleum Ltd. | 3,000,000 | 1,500,000 | — | 4,500,000 | ||||||||||||
PVR Ltd. | 2,000,000 | — | 2,000,000 | — | ||||||||||||
RISA Partners, Inc. | 18,000 | 1,000 | 19,000 | — |
F4 | OPPENHEIMER INTERNATIONAL SMALL COMPANY FUND
Shares | Gross | Gross | Shares | |||||||||||||
August 31, 2007 | Additions | Reductions | August 31, 2008 | |||||||||||||
Shinwa Art Auction Co. Ltd. | 5,000 | — | 1,771 | 3,229 | ||||||||||||
Sikanni Services Ltd. | 10,000,000 | — | 10,000,000 | b | — | |||||||||||
Sikanni Services Ltd. Wts., Exp. 9/30/08a | 5,000,000 | — | — | 5,000,000 | ||||||||||||
SK Communications Co. Ltd. (formerly Empas Corp.) | 1,250,000 | 250,000 | 1,500,000 | — | ||||||||||||
Stockgroup Information Systems, Inc. | 3,000,000 | — | 3,000,000 | b | — | |||||||||||
Travelsky Technology Ltd., Cl. H | 60,000,000 | — | — | 60,000,000 | ||||||||||||
Uranium Participation Corp. | — | 9,525,000 | 5,548,700 | 3,976,300 | ||||||||||||
Western Prospector Group Ltd. | 2,500,000 | 1,500,000 | 4,000,000 | — | ||||||||||||
WesternZagros Resources Ltd. | — | 13,000,000 | 115,200 | 12,884,800 | ||||||||||||
Westport Innovations, Inc. | 1,784,800 | 440,200 | 1,660,714 | b | 564,286 | |||||||||||
Westport Innovations, Inc., Legend Shares | 6,775,000 | — | 4,839,286 | b | 1,935,714 | |||||||||||
World Energy Solutions, Inc. | 6,000,000 | — | — | 6,000,000 | ||||||||||||
Wumart Stores, Inc. | 24,000,000 | 6,000,000 | 30,000,000 | — | ||||||||||||
Xinhua Finance Ltd. | 35,000 | 40,000 | b | 75,000 | — | |||||||||||
Xinhua Finance Ltd., Sponsored ADR | 4,000,000 | — | 4,000,000 | b | — | |||||||||||
Zaio Corp. | 1,526,400 | 473,600 | 2,000,000 | — | ||||||||||||
Zaio Corp., Legend Sharesa | 1,000,000 | — | 500,000 | 500,000 | ||||||||||||
Dividend | Realized | |||||||||||||||
Value | Income | Gain (Loss) | ||||||||||||||
Absolute Software Corp. | $ | — | $ | — | $ | 21,711,940 | ||||||||||
Anvil Mining Ltd. | 34,140,139 | — | — | |||||||||||||
Arques Industries AG | 30,433,953 | — | — | |||||||||||||
Azure Dynamics Corp., Legend Shares | 4,354,528 | — | (254,294 | ) | ||||||||||||
Calvalley Petroleum, Inc., Cl. A | 21,529,478 | — | — | |||||||||||||
Canoro Resources Ltd. | 1,271,426 | — | — | |||||||||||||
Canoro Resources Ltd., Legend Shares | 5,085,704 | — | — | |||||||||||||
Central African Mining & Exploration Co. plca | — | c | — | — | ||||||||||||
China Vanguard Group Ltd. | 12,428,255 | — | — | |||||||||||||
China Vanguard Group Ltd. Wts., Exp. 11/2/08 | 112,754 | — | — | |||||||||||||
Crown Confectionary Co. Ltd.a | — | c | 92,493 | (5,356,029 | ) | |||||||||||
Culane Energy Corp. | 9,789,979 | — | (720,647 | ) | ||||||||||||
Danal Co. Ltd. | — | — | (15,247,487 | ) | ||||||||||||
Duzon Digital Ware Co. Ltd. | — | 340,167 | 7,778,692 | |||||||||||||
Enablence Technologies, Inc. | 2,785,835 | — | (457,919 | ) | ||||||||||||
Enablence Technologies, Inc., Legend Shares | 11,527,595 | — | — | |||||||||||||
Fidec Corp. | — | 58,360 | (15,506,264 | ) | ||||||||||||
Funai Zaisan Consultants Co. Ltd. | 9,443,390 | 125,732 | — | |||||||||||||
Gulf Keystone Petroleum Ltd. | 10,483,695 | — | — | |||||||||||||
Imaging Dynamics Co. Ltd. | — | — | (2,150,939 | ) | ||||||||||||
Imaging Dynamics Co. Ltd., Legend Shares | — | — | (5,728,588 | ) | ||||||||||||
Immersive Media Corp. | — | — | (7,063,001 | ) | ||||||||||||
Ivernia, Inc. | 6,187,371 | — | — | |||||||||||||
Ivernia, Inc., Legend Shares | 1,657,563 | — | — | |||||||||||||
Kaboose, Inc. | — | — | (10,455,415 | ) | ||||||||||||
Kaboose, Inc., Legend Shares | — | — | (892,412 | ) | ||||||||||||
Kenedix, Inc. | — | 777,313 | (35,373,610 | ) | ||||||||||||
Klabin Segall SA | — | 199,371 | (4,441,104 | ) | ||||||||||||
Macromill, Inc. | — | 235,690 | (15,751,927 | ) | ||||||||||||
Mobilians Co. Ltd. | — | — | (4,141,437 | ) | ||||||||||||
Moly Mines Ltd.a | — | c | — | (4,871,760 | ) | |||||||||||
Nido Petroleum Ltd. | 22,046,293 | — | — | |||||||||||||
Norwood Immunology Ltd. | 660,785 | — | — | |||||||||||||
Olympus Pacific Minerals, Inc. | — | — | (2,395,384 | ) |
F5 | OPPENHEIMER INTERNATIONAL SMALL COMPANY FUND
Dividend | Realized | |||||||||||
Value | Income | Gain (Loss) | ||||||||||
Opera Software ASA | $ | 80,328,247 | $ | — | $ | — | ||||||
Oppenheimer Institutional Money Market Fund, Cl. E | — | 1,830,484 | — | |||||||||
Pacific Rubiales Energy Corp. (formerly Petro Rubiales Energy Corp.)a | — | c | 6 | — | ||||||||
Pacific Rubiales Energy Corp. (formerly Petro Rubiales Energy Corp.), Legend Sharesa | — | c | ��� | — | ||||||||
Pacific Rubiales Energy Corp. Wts., Exp. 7/12/12 (formerly Petro Rubiales Energy Corp.)a | — | c | — | — | ||||||||
Petrolifera Petroleum Ltd. | 21,826,144 | — | — | |||||||||
PVR Ltd. | — | 43,090 | (2,548,626 | ) | ||||||||
RISA Partners, Inc. | — | 286,014 | (12,928,018 | ) | ||||||||
Shinwa Art Auction Co. Ltd. | 1,179,668 | 111,511 | (5,346,746 | ) | ||||||||
Sikanni Services Ltd. | — | — | — | |||||||||
Sikanni Services Ltd. Wts., Exp. 9/30/08a | — | c | — | — | ||||||||
SK Communications Co. Ltd. (formerly Empas Corp.) | — | — | (2,617,971 | ) | ||||||||
Stockgroup Information Systems, Inc. | — | — | (263,248 | ) | ||||||||
Travelsky Technology Ltd., Cl. H | 36,516,926 | 1,115,657 | — | |||||||||
Uranium Participation Corp. | 32,355,653 | — | (20,444,793 | ) | ||||||||
Western Prospector Group Ltd. | — | — | (14,725,670 | ) | ||||||||
WesternZagros Resources Ltd. | 30,215,815 | — | (208,725 | ) | ||||||||
Westport Innovations, Inc. | 7,116,020 | 14 | 187,500 | |||||||||
Westport Innovations, Inc., Legend Shares | 24,410,633 | — | — | |||||||||
World Energy Solutions, Inc. | 4,520,625 | — | — | |||||||||
Wumart Stores, Inc. | — | — | 4,893,897 | |||||||||
Xinhua Finance Ltd. | — | — | (43,895,164 | ) | ||||||||
Xinhua Finance Ltd., Sponsored ADR | — | — | (23,200 | ) | ||||||||
Zaio Corp. | — | — | (6,866,554 | ) | ||||||||
Zaio Corp., Legend Sharesa | — | c | — | (1,199,549 | ) | |||||||
$ | 422,408,474 | $ | 5,215,902 | $ | (207,304,452 | ) | ||||||
a. | No longer an affiliate as of August 31, 2008. | |
b. | All or a portion is the result of a corporate action. | |
c. | The security is no longer an affiliate, therefore, the value has been excluded from this table. |
Contract | ||||||||||||||||||||||||
Amount | Expiration | Unrealized | Unrealized | |||||||||||||||||||||
Contract Description | Buy/Sell | (000s) | Date | Value | Appreciation | Depreciation | ||||||||||||||||||
Australian Dollar (AUD) | Sell | 806 | AUD | 9/2/08 | $ | 691,991 | $ | 1,522 | $ | 1,208 | ||||||||||||||
British Pound Sterling (GBP) | Sell | 1,430 | GBP | 9/2/08 | 2,606,395 | 13,791 | — | |||||||||||||||||
Canadian Dollar (CAD) | Sell | 2,012 | CAD | 9/2/08 | 1,894,566 | 26,434 | — | |||||||||||||||||
Hong Kong Dollar (HKD) | Sell | 1,536 | HKD | 9/2/08 | 196,859 | — | 63 | |||||||||||||||||
Japanese Yen (JPY) | Sell | 187,823 | JPY | 9/2/08 | 1,725,922 | — | 12,110 | |||||||||||||||||
Total unrealized appreciation and depreciation | $ | 41,747 | $ | 13,381 | ||||||||||||||||||||
F6 | OPPENHEIMER INTERNATIONAL SMALL COMPANY FUND
Geographic Holdings | Value | Percent | ||||||
Canada | $ | 683,191,197 | 44.3 | % | ||||
Australia | 224,310,680 | 14.6 | ||||||
United States | 151,563,000 | 9.8 | ||||||
Norway | 128,547,440 | 8.3 | ||||||
Cayman Islands | 83,092,770 | 5.4 | ||||||
Japan | 61,366,810 | 4.0 | ||||||
United Kingdom | 52,631,030 | 3.4 | ||||||
China | 36,516,926 | 2.4 | ||||||
Germany | 30,433,953 | 2.0 | ||||||
Singapore | 26,772,520 | 1.7 | ||||||
Russia | 19,000,000 | 1.2 | ||||||
Bermuda | 17,810,009 | 1.2 | ||||||
Sweden | 12,676,144 | 0.8 | ||||||
India | 8,860,488 | 0.6 | ||||||
Brazil | 2,634,621 | 0.2 | ||||||
Korea, Republic of South | 1,554,147 | 0.1 | ||||||
Hong Kong | 689,481 | 0.0 | ||||||
Total | $ | 1,541,651,216 | 100.0 | % | ||||
F7 | OPPENHEIMER INTERNATIONAL SMALL COMPANY FUND
Assets | ||||
Investments, at value—see accompanying statement of investments: | ||||
Unaffiliated companies (cost $1,145,126,788) | $ | 1,119,242,742 | ||
Affiliated companies (cost $582,834,792) | 422,408,474 | |||
1,541,651,216 | ||||
Cash—foreign currencies (cost $79,042) | 79,190 | |||
Unrealized appreciation on foreign currency exchange contracts | 41,747 | |||
Receivables and other assets: | ||||
Investments sold | 13,666,076 | |||
Dividends | 1,067,331 | |||
Shares of beneficial interest sold | 832,224 | |||
Other | 84,642 | |||
Total assets | 1,557,422,426 | |||
Liabilities | ||||
Bank overdraft | 5,483,630 | |||
Unrealized depreciation on foreign currency exchange contracts | 13,381 | |||
Payables and other liabilities: | ||||
Shares of beneficial interest redeemed | 4,990,958 | |||
Distribution and service plan fees | 558,272 | |||
Transfer and shareholder servicing agent fees | 250,828 | |||
Trustees’ compensation | 234,756 | |||
Investments purchased | 200,096 | |||
Shareholder communications | 176,170 | |||
Foreign capital gains tax | 97,842 | |||
Other | 161,422 | |||
Total liabilities | 12,167,355 | |||
Net Assets | $ | 1,545,255,071 | ||
Composition of Net Assets | ||||
Paid-in capital | $ | 1,925,392,691 | ||
Accumulated net investment loss | (14,391,821 | ) | ||
Accumulated net realized loss on investments and foreign currency transactions | (179,331,951 | ) | ||
Net unrealized depreciation on investments and translation of assets and liabilities denominated in foreign currencies | (186,413,848 | ) | ||
Net Assets | $ | 1,545,255,071 | ||
F8 | OPPENHEIMER INTERNATIONAL SMALL COMPANY FUND
Net Asset Value Per Share | ||||
Class A Shares: | ||||
Net asset value and redemption price per share (based on net assets of $938,262,784 and 52,412,351 shares of beneficial interest outstanding) | $ | 17.90 | ||
Maximum offering price per share (net asset value plus sales charge of 5.75% of offering price) | $ | 18.99 | ||
Class B Shares: | ||||
Net asset value, redemption price (excludes applicable contingent deferred sales charge) and offering price per share (based on net assets of $70,077,567 and 4,090,463 shares of beneficial interest outstanding) | $ | 17.13 | ||
Class C Shares: | ||||
Net asset value, redemption price (excludes applicable contingent deferred sales charge) and offering price per share (based on net assets of $172,159,376 and 10,065,617 shares of beneficial interest outstanding) | $ | 17.10 | ||
Class N Shares: | ||||
Net asset value, redemption price (excludes applicable contingent deferred sales charge) and offering price per share (based on net assets of $43,687,248 and 2,519,280 shares of beneficial interest outstanding) | $ | 17.34 | ||
Class Y Shares: | ||||
Net asset value, redemption price and offering price per share (based on net assets of $321,068,096 and 17,933,762 shares of beneficial interest outstanding) | $ | 17.90 |
F9 | OPPENHEIMER INTERNATIONAL SMALL COMPANY FUND
Investment Income | ||||
Dividends: | ||||
Unaffiliated companies (net of foreign withholding taxes of $255,344) | $ | 12,018,514 | ||
Affiliated companies (net of foreign withholding taxes of $205,521) | 5,215,902 | |||
Interest | 24,944 | |||
Other income | 11,663 | |||
Total investment income | 17,271,023 | |||
Expenses | ||||
Management fees | 18,242,695 | |||
Distribution and service plan fees: | ||||
Class A | 3,902,009 | |||
Class B | 1,167,789 | |||
Class C | 2,972,527 | |||
Class N | 365,208 | |||
Transfer and shareholder servicing agent fees: | ||||
Class A | 2,054,718 | |||
Class B | 224,339 | |||
Class C | 405,067 | |||
Class N | 194,910 | |||
Class Y | 183,931 | |||
Shareholder communications: | ||||
Class A | 265,388 | |||
Class B | 40,436 | |||
Class C | 51,325 | |||
Class N | 4,502 | |||
Class Y | 36,900 | |||
Custodian fees and expenses | 682,602 | |||
Trustees’ compensation | 105,834 | |||
Other | 274,718 | |||
Total expenses | 31,174,898 | |||
Less reduction to custodian expenses | (8,139 | ) | ||
Less waivers and reimbursements of expenses | (42,276 | ) | ||
Net expenses | 31,124,483 | |||
Net Investment Loss | (13,853,460 | ) |
F10 | OPPENHEIMER INTERNATIONAL SMALL COMPANY FUND
Realized and Unrealized Gain (Loss) | ||||
Net realized gain (loss) on: | ||||
Investments (net of foreign capital gains tax of $7,112,126): | ||||
Unaffiliated companies | $ | 103,969,001 | ||
Affiliated companies | (207,304,452 | ) | ||
Foreign currency transactions | 124,978,903 | |||
Net realized gain | 21,643,452 | |||
Net change in unrealized depreciation on: | ||||
Investments | (638,475,951 | ) | ||
Translation of assets and liabilities denominated in foreign currencies | (83,898,520 | ) | ||
Net change in unrealized depreciation | (722,374,471 | ) | ||
Net Decrease in Net Assets Resulting from Operations | $ | (714,584,479 | ) | |
F11 | OPPENHEIMER INTERNATIONAL SMALL COMPANY FUND
Year Ended August 31, | 2008 | 2007 | ||||||
Operations | ||||||||
Net investment loss | $ | (13,853,460 | ) | $ | (2,370,704 | ) | ||
Net realized gain | 21,643,452 | 410,180,930 | ||||||
Net change in unrealized appreciation (depreciation) | (722,374,471 | ) | 188,155,854 | |||||
Net increase (decrease) in net assets resulting from operations | (714,584,479 | ) | 595,966,080 | |||||
Dividends and/or Distributions to Shareholders | ||||||||
Dividends from net investment income: | ||||||||
Class A | (71,309,387 | ) | (9,069,418 | ) | ||||
Class B | (2,799,812 | ) | — | |||||
Class C | (8,197,783 | ) | — | |||||
Class N | (2,814,556 | ) | (181,028 | ) | ||||
Class Y | (21,047,428 | ) | (1,395,280 | ) | ||||
(106,168,966 | ) | (10,645,726 | ) | |||||
Distributions from net realized gain: | ||||||||
Class A | (276,918,559 | ) | (26,758,605 | ) | ||||
Class B | (20,467,627 | ) | (2,532,828 | ) | ||||
Class C | (52,812,894 | ) | (5,166,398 | ) | ||||
Class N | (12,722,879 | ) | (1,049,876 | ) | ||||
Class Y | (67,333,347 | ) | (2,618,553 | ) | ||||
(430,255,306 | ) | (38,126,260 | ) | |||||
Tax return of capital distribution from net realized gain: | ||||||||
Class A | (5,757,387 | ) | — | |||||
Class B | (425,540 | ) | — | |||||
Class C | (1,098,028 | ) | — | |||||
Class N | (264,520 | ) | — | |||||
Class Y | (1,399,921 | ) | — | |||||
(8,945,396 | ) | — | ||||||
Beneficial Interest Transactions | ||||||||
Net increase (decrease) in net assets resulting from beneficial interest transactions: | ||||||||
Class A | (204,917,779 | ) | 212,151,777 | |||||
Class B | (16,849,242 | ) | (17,884,834 | ) | ||||
Class C | (36,607,555 | ) | 38,773,724 | |||||
Class N | (849,218 | ) | 15,778,066 | |||||
Class Y | 160,746,895 | 261,996,860 | ||||||
(98,476,899 | ) | 510,815,593 | ||||||
Net Assets | ||||||||
Total increase (decrease) | (1,358,431,046 | ) | 1,058,009,687 | |||||
Beginning of period | 2,903,686,117 | 1,845,676,430 | ||||||
End of period (including accumulated net investment income (loss) of $(14,391,821) and $33,712,777, respectively) | $ | 1,545,255,071 | $ | 2,903,686,117 | ||||
F12 | OPPENHEIMER INTERNATIONAL SMALL COMPANY FUND
Class A Year Ended August 31, | 2008 | 2007 | 2006 | 2005 | 2004 | |||||||||||||||
Per Share Operating Data | ||||||||||||||||||||
Net asset value, beginning of period | $ | 30.52 | $ | 23.40 | $ | 19.48 | $ | 14.14 | $ | 10.51 | ||||||||||
Income (loss) from investment operations: | ||||||||||||||||||||
Net investment income (loss) | (.12 | )1 | .01 | 1 | (.05 | )1 | (.02 | )1 | (.04 | ) | ||||||||||
Net realized and unrealized gain (loss) | (6.83 | ) | 7.75 | 6.15 | 5.78 | 3.73 | ||||||||||||||
Total from investment operations | (6.95 | ) | 7.76 | 6.10 | 5.76 | 3.69 | ||||||||||||||
Dividends and/or distributions to shareholders: | ||||||||||||||||||||
Dividends from net investment income | (1.06 | ) | (.16 | ) | — | (.11 | ) | (.06 | ) | |||||||||||
Distributions from net realized gain | (4.51 | ) | (.48 | ) | (2.18 | ) | (.31 | ) | — | |||||||||||
Tax return of capital distribution from net realized gain | (.10 | ) | — | — | — | — | ||||||||||||||
Total dividends and/or distributions to shareholders | (5.67 | ) | (.64 | ) | (2.18 | ) | (.42 | ) | (.06 | ) | ||||||||||
Net asset value, end of period | $ | 17.90 | $ | 30.52 | $ | 23.40 | $ | 19.48 | $ | 14.14 | ||||||||||
Total Return, at Net Asset Value2 | (28.97 | )% | 33.56 | % | 33.49 | % | 41.35 | % | 35.20 | % | ||||||||||
Ratios/Supplemental Data | ||||||||||||||||||||
Net assets, end of period (in thousands) | $ | 938,263 | $ | 1,931,669 | $ | 1,330,251 | $ | 552,861 | $ | 204,938 | ||||||||||
Average net assets (in thousands) | $ | 1,617,877 | $ | 1,702,152 | $ | 1,098,056 | $ | 353,479 | $ | 207,202 | ||||||||||
Ratios to average net assets:3 | ||||||||||||||||||||
Net investment income (loss) | (0.46 | )% | 0.03 | % | (0.24 | )% | (0.12 | )% | (0.26 | )% | ||||||||||
Total expenses | 1.14 | %4,5,6 | 1.13 | %4,5,6 | 1.20 | %6 | 1.31 | %6 | 1.34 | %6 | ||||||||||
Portfolio turnover rate | 67 | % | 57 | % | 35 | % | 51 | % | 124 | % |
1. | Per share amounts calculated based on the average shares outstanding during the period. | |
2. | Assumes an investment on the business day before the first day of the fiscal period, with all dividends and distributions reinvested in additional shares on the reinvestment date, and redemption at the net asset value calculated on the last business day of the fiscal period. Sales charges are not reflected in the total returns. Total returns are not annualized for periods less than one full year. Returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. | |
3. | Annualized for periods less than one full year. | |
4. | Total expenses including indirect expenses from affiliated fund were as follows: |
Year Ended August 31, 2008 | 1.14% | |
Year Ended August 31, 2007 | 1.13% |
5. | Waiver or reimbursement of indirect management fees less than 0.005%. | |
6. | Reduction to custodian expenses less than 0.005%. |
F13 | OPPENHEIMER INTERNATIONAL SMALL COMPANY FUND
Class B Year Ended August 31, | 2008 | 2007 | 2006 | 2005 | 2004 | |||||||||||||||
Per Share Operating Data | ||||||||||||||||||||
Net asset value, beginning of period | $ | 29.16 | $ | 22.43 | $ | 18.91 | $ | 13.77 | $ | 10.28 | ||||||||||
Income (loss) from investment operations: | ||||||||||||||||||||
Net investment loss | (.32 | )1 | (.22 | )1 | (.24 | )1 | (.17 | )1 | (.13 | ) | ||||||||||
Net realized and unrealized gain (loss) | (6.55 | ) | 7.43 | 5.94 | 5.62 | 3.62 | ||||||||||||||
Total from investment operations | (6.87 | ) | 7.21 | 5.70 | 5.45 | 3.49 | ||||||||||||||
Dividends and/or distributions to shareholders: | ||||||||||||||||||||
Dividends from net investment income | (.55 | ) | — | — | — | — | ||||||||||||||
Distributions from net realized gain | (4.51 | ) | (.48 | ) | (2.18 | ) | (.31 | ) | — | |||||||||||
Tax return of capital distribution from net realized gain | (.10 | ) | — | — | — | — | ||||||||||||||
Total dividends and/or distributions to shareholders | (5.16 | ) | (.48 | ) | (2.18 | ) | (.31 | ) | — | |||||||||||
Net asset value, end of period | $ | 17.13 | $ | 29.16 | $ | 22.43 | $ | 18.91 | $ | 13.77 | ||||||||||
Total Return, at Net Asset Value2 | (29.54 | )% | 32.43 | % | 32.29 | % | 40.07 | % | 33.95 | % | ||||||||||
Ratios/Supplemental Data | ||||||||||||||||||||
Net assets, end of period (in thousands) | $ | 70,078 | $ | 142,120 | $ | 124,505 | $ | 78,469 | $ | 43,478 | ||||||||||
Average net assets (in thousands) | $ | 116,865 | $ | 142,384 | $ | 114,900 | $ | 60,395 | $ | 37,393 | ||||||||||
Ratios to average net assets:3 | ||||||||||||||||||||
Net investment loss | (1.30 | )% | (0.81 | )% | (1.11 | )% | (1.02 | )% | (1.14 | )% | ||||||||||
Total expenses | 1.99 | %4 | 1.97 | %4 | 2.09 | % | 2.23 | % | 2.35 | % | ||||||||||
Expenses after payments, waivers and/or reimbursements and reduction to custodian expenses | 1.99 | % | 1.97 | % | 2.09 | % | 2.23 | % | 2.31 | % | ||||||||||
Portfolio turnover rate | 67 | % | 57 | % | 35 | % | 51 | % | 124 | % |
1. | Per share amounts calculated based on the average shares outstanding during the period. | |
2. | Assumes an investment on the business day before the first day of the fiscal period, with all dividends and distributions reinvested in additional shares on the reinvestment date, and redemption at the net asset value calculated on the last business day of the fiscal period. Sales charges are not reflected in the total returns. Total returns are not annualized for periods less than one full year. Returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. | |
3. | Annualized for periods less than one full year. | |
4. | Total expenses including indirect expenses from affiliated fund were as follows: |
Year Ended August 31, 2008 | 1.99% | |
Year Ended August 31, 2007 | 1.97% |
F14 | OPPENHEIMER INTERNATIONAL SMALL COMPANY FUND
Class C Year Ended August 31, | 2008 | 2007 | 2006 | 2005 | 2004 | |||||||||||||||
Per Share Operating Data | ||||||||||||||||||||
Net asset value, beginning of period | $ | 29.19 | $ | 22.44 | $ | 18.90 | $ | 13.76 | $ | 10.27 | ||||||||||
Income (loss) from investment operations: | ||||||||||||||||||||
Net investment loss | (.30 | )1 | (.20 | )1 | (.23 | )1 | (.16 | )1 | (.09 | ) | ||||||||||
Net realized and unrealized gain (loss) | (6.55 | ) | 7.43 | 5.95 | 5.63 | 3.59 | ||||||||||||||
Total from investment operations | (6.85 | ) | 7.23 | 5.72 | 5.47 | 3.50 | ||||||||||||||
Dividends and/or distributions to shareholders: | ||||||||||||||||||||
Dividends from net investment income | (.63 | ) | — | — | (.02 | ) | (.01 | ) | ||||||||||||
Distributions from net realized gain | (4.51 | ) | (.48 | ) | (2.18 | ) | (.31 | ) | — | |||||||||||
Tax return of capital distribution from net realized gain | (.10 | ) | — | — | — | — | ||||||||||||||
Total dividends and/or distributions to shareholders | (5.24 | ) | (.48 | ) | (2.18 | ) | (.33 | ) | (.01 | ) | ||||||||||
Net asset value, end of period | $ | 17.10 | $ | 29.19 | $ | 22.44 | $ | 18.90 | $ | 13.76 | ||||||||||
Total Return, at Net Asset Value2 | (29.52 | )% | 32.50 | % | 32.42 | % | 40.23 | % | 34.05 | % | ||||||||||
Ratios/Supplemental Data | ||||||||||||||||||||
Net assets, end of period (in thousands) | $ | 172,159 | $ | 352,532 | $ | 242,408 | $ | 86,184 | $ | 32,401 | ||||||||||
Average net assets (in thousands) | $ | 296,798 | $ | 312,797 | $ | 184,832 | $ | 55,819 | $ | 26,486 | ||||||||||
Ratios to average net assets:3 | ||||||||||||||||||||
Net investment loss | (1.23 | )% | (0.75 | )% | (1.06 | )% | (0.96 | )% | (1.00 | )% | ||||||||||
Total expenses | 1.91 | %4,5,6 | 1.91 | %4,5,6 | 2.01 | %6 | 2.14 | %6 | 2.19 | %6,7 | ||||||||||
Portfolio turnover rate | 67 | % | 57 | % | 35 | % | 51 | % | 124 | % |
1. | Per share amounts calculated based on the average shares outstanding during the period. | |
2. | Assumes an investment on the business day before the first day of the fiscal period, with all dividends and distributions reinvested in additional shares on the reinvestment date, and redemption at the net asset value calculated on the last business day of the fiscal period. Sales charges are not reflected in the total returns. Total returns are not annualized for periods less than one full year. Returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. | |
3. | Annualized for periods less than one full year. | |
4. | Total expenses including indirect expenses from affiliated fund were as follows: |
Year Ended August 31, 2008 | 1.91% | |
Year Ended August 31, 2007 | 1.91% |
5. | Waiver or reimbursement of indirect management fees less than 0.005%. | |
6. | Reduction to custodian expenses less than 0.005%. | |
7. | Voluntary waiver of transfer agent fees less than 0.005%. |
F15 | OPPENHEIMER INTERNATIONAL SMALL COMPANY FUND
Class N Year Ended August 31, | 2008 | 2007 | 2006 | 2005 | 2004 | |||||||||||||||
Per Share Operating Data | ||||||||||||||||||||
Net asset value, beginning of period | $ | 29.67 | $ | 22.79 | $ | 19.08 | $ | 13.90 | $ | 10.35 | ||||||||||
Income (loss) from investment operations: | ||||||||||||||||||||
Net investment loss | (.21 | )1 | (.10 | )1 | (.14 | )1 | (.09 | )1 | (.05 | ) | ||||||||||
Net realized and unrealized gain (loss) | (6.62 | ) | 7.54 | 6.03 | 5.67 | 3.64 | ||||||||||||||
Total from investment operations | (6.83 | ) | 7.44 | 5.89 | 5.58 | 3.59 | ||||||||||||||
Dividends and/or distributions to shareholders: | ||||||||||||||||||||
Dividends from net investment income | (.89 | ) | (.08 | ) | — | (.09 | ) | (.04 | ) | |||||||||||
Distributions from net realized gain | (4.51 | ) | (.48 | ) | (2.18 | ) | (.31 | ) | — | |||||||||||
Tax return of capital distribution from net realized gain | (.10 | ) | — | — | — | — | ||||||||||||||
Total dividends and/or distributions to shareholders | (5.50 | ) | (.56 | ) | (2.18 | ) | (.40 | ) | (.04 | ) | ||||||||||
Net asset value, end of period | $ | 17.34 | $ | 29.67 | $ | 22.79 | $ | 19.08 | $ | 13.90 | ||||||||||
Total Return, at Net Asset Value2 | (29.23 | )% | 32.99 | % | 33.06 | % | 40.76 | % | 34.70 | % | ||||||||||
Ratios/Supplemental Data | ||||||||||||||||||||
Net assets, end of period (in thousands) | $ | 43,687 | $ | 81,367 | $ | 51,761 | $ | 16,673 | $ | 4,101 | ||||||||||
Average net assets (in thousands) | $ | 72,854 | $ | 66,982 | $ | 38,262 | $ | 9,698 | $ | 2,531 | ||||||||||
Ratios to average net assets:3 | ||||||||||||||||||||
Net investment loss | (0.85 | )% | (0.36 | )% | (0.63 | )% | (0.51 | )% | (0.50 | )% | ||||||||||
Total expenses | 1.53 | %4 | 1.52 | %4 | 1.57 | % | 1.75 | % | 1.78 | % | ||||||||||
Expenses after payments, waivers and/or reimbursements and reduction to custodian expenses | 1.53 | % | 1.52 | % | 1.57 | % | 1.68 | % | 1.75 | % | ||||||||||
Portfolio turnover rate | 67 | % | 57 | % | 35 | % | 51 | % | 124 | % |
1. | Per share amounts calculated based on the average shares outstanding during the period. | |
2. | Assumes an investment on the business day before the first day of the fiscal period, with all dividends and distributions reinvested in additional shares on the reinvestment date, and redemption at the net asset value calculated on the last business day of the fiscal period. Sales charges are not reflected in the total returns. Total returns are not annualized for periods less than one full year. Returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. | |
3. | Annualized for periods less than one full year. | |
4. | Total expenses including indirect expenses from affiliated fund were as follows: |
Year Ended August 31, 2008 | 1.53% | |
Year Ended August 31, 2007 | 1.52% |
F16 | OPPENHEIMER INTERNATIONAL SMALL COMPANY FUND
Class Y Year Ended August 31, | 2008 | 2007 | 20061 | |||||||||
Per Share Operating Data | ||||||||||||
Net asset value, beginning of period | $ | 30.61 | $ | 23.47 | $ | 19.97 | ||||||
Income (loss) from investment operations: | ||||||||||||
Net investment income (loss)2 | (.03 | ) | .11 | .01 | ||||||||
Net realized and unrealized gain (loss) | (6.82 | ) | 7.76 | 5.67 | ||||||||
Total from investment operations | (6.85 | ) | 7.87 | 5.68 | ||||||||
Dividends and/or distributions to shareholders: | ||||||||||||
Dividends from net investment income | (1.25 | ) | (.25 | ) | — | |||||||
Distributions from net realized gain | (4.51 | ) | (.48 | ) | (2.18 | ) | ||||||
Tax return of capital distribution from net realized gain | (.10 | ) | — | — | ||||||||
Total dividends and/or distributions to shareholders | (5.86 | ) | (.73 | ) | (2.18 | ) | ||||||
Net asset value, end of period | $ | 17.90 | $ | 30.61 | $ | 23.47 | ||||||
Total Return, at Net Asset Value3 | (28.72 | )% | 34.00 | % | 30.60 | % | ||||||
Ratios/Supplemental Data | ||||||||||||
Net assets, end of period (in thousands) | $ | 321,068 | $ | 395,998 | $ | 96,751 | ||||||
Average net assets (in thousands) | $ | 437,593 | $ | 235,856 | $ | 43,043 | ||||||
Ratios to average net assets:4 | ||||||||||||
Net investment income (loss) | (0.13 | )% | 0.36 | % | 0.03 | % | ||||||
Total expenses | 0.81 | %5,6,7 | 0.79 | %5,6,7 | 0.82 | %7 | ||||||
Portfolio turnover rate | 67 | % | 57 | % | 35 | % |
1. | For the period from September 7, 2005 (inception of offering) to August 31, 2006. | |
2. | Per share amounts calculated based on the average shares outstanding during the period. | |
3. | Assumes an investment on the business day before the first day of the fiscal period, with all dividends and distributions reinvested in additional shares on the reinvestment date, and redemption at the net asset value calculated on the last business day of the fiscal period. Sales charges are not reflected in the total returns. Total returns are not annualized for periods less than one full year. Returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. | |
4. | Annualized for periods less than one full year. | |
5. | Total expenses including indirect expenses from affiliated fund were as follows: |
Year Ended August 31, 2008 | 0.81% | |
Year Ended August 31, 2007 | 0.79% |
6. | Waiver or reimbursement of indirect management fees less than 0.005%. | |
7. | Reduction to custodian expenses less than 0.005%. |
F17 | OPPENHEIMER INTERNATIONAL SMALL COMPANY FUND
F18 | OPPENHEIMER INTERNATIONAL SMALL COMPANY FUND
F19 | OPPENHEIMER INTERNATIONAL SMALL COMPANY FUND
Net Unrealized | ||||||||||||
Depreciation | ||||||||||||
Based on Cost of | ||||||||||||
Securities and | ||||||||||||
Undistributed | Undistributed | Accumulated | Other Investments | |||||||||
Net Investment | Long-Term | Loss | for Federal Income | |||||||||
Income | Gain | Carryforward1,2,3,4,5 | Tax Purposes | |||||||||
$— | $ | — | $ | 194,237,603 | $ | 185,674,785 |
1. | As of August 31, 2008, the Fund had $179,160,878 of post-October losses available to offset future realized capital gains, if any. Such losses, if unutilized, will expire in 2017. | |
2. | The Fund had $1,042,769 of post-October foreign currency losses which were deferred. | |
3. | The Fund had $14,033,956 of post-October passive foreign investment company losses which were deferred. | |
4. | During the fiscal year ended August 31, 2008, the Fund did not utilize any capital loss carryforward. | |
5. | During the fiscal year ended August 31, 2007, the Fund did not utilize any capital loss carryforward. |
F20 | OPPENHEIMER INTERNATIONAL SMALL COMPANY FUND
Increase to | ||||||||
Reduction to | Accumulated Net | |||||||
Reduction to | Accumulated Net | Realized Loss | ||||||
Paid-in Capital | Investment Loss | on Investments | ||||||
$18,897,001 | $ | 71,917,828 | $ | 53,020,827 |
Year Ended | Year Ended | |||||||
August 31, 2008 | August 31, 2007 | |||||||
Distributions paid from: | ||||||||
Ordinary income | $ | 199,236,870 | $ | 34,742,582 | ||||
Long-term capital gain | 337,187,402 | 14,029,404 | ||||||
Return of capital | 8,945,396 | — | ||||||
Total | $ | 545,369,668 | $ | 48,771,986 | ||||
Federal tax cost of securities | $ | 1,728,743,889 | ||
Federal tax cost of other investments | (8,558,615 | ) | ||
Total federal tax cost | $ | 1,720,185,274 | ||
Gross unrealized appreciation | $ | 224,522,889 | ||
Gross unrealized depreciation | (410,197,674 | ) | ||
Net unrealized depreciation | $ | (185,674,785 | ) | |
F21 | OPPENHEIMER INTERNATIONAL SMALL COMPANY FUND
Projected Benefit Obligations Increased | $ | 45,229 | ||
Payments Made to Retired Trustees | 13,914 | |||
Accumulated Liability as of August 31, 2008 | 160,811 |
F22 | OPPENHEIMER INTERNATIONAL SMALL COMPANY FUND
Year Ended August 31, 2008 | Year Ended August 31, 2007 | |||||||||||||||
Shares | Amount | Shares | Amount | |||||||||||||
Class A | ||||||||||||||||
Sold | 8,064,251 | $ | 213,833,167 | 24,448,070 | $ | 712,881,011 | ||||||||||
Dividends and/or distributions reinvested | 11,540,397 | 316,491,791 | 1,202,875 | 31,924,255 | ||||||||||||
Redeemed | (30,492,625 | ) | (735,242,737 | )1 | (19,189,583 | ) | (532,653,489 | )2 | ||||||||
Net increase (decrease) | (10,887,977 | ) | $ | (204,917,779 | ) | 6,461,362 | $ | 212,151,777 | ||||||||
Class B | ||||||||||||||||
Sold | 323,167 | $ | 8,403,941 | 938,207 | $ | 25,977,009 | ||||||||||
Dividends and/or distributions reinvested | 832,184 | 21,844,866 | 91,164 | 2,326,397 | ||||||||||||
Redeemed | (1,938,637 | ) | (47,098,049 | )1 | (1,705,475 | ) | (46,188,240 | )2 | ||||||||
Net decrease | (783,286 | ) | $ | (16,849,242 | ) | (676,104 | ) | $ | (17,884,834 | ) | ||||||
Class C | ||||||||||||||||
Sold | 1,085,351 | $ | 28,329,591 | 3,658,885 | $ | 104,218,413 | ||||||||||
Dividends and/or distributions reinvested | 1,859,940 | 48,770,086 | 160,549 | 4,098,791 | ||||||||||||
Redeemed | (4,957,486 | ) | (113,707,232 | )1 | (2,543,208 | ) | (69,543,480 | )2 | ||||||||
Net increase (decrease) | (2,012,195 | ) | $ | (36,607,555 | ) | 1,276,226 | $ | 38,773,724 | ||||||||
F23 | OPPENHEIMER INTERNATIONAL SMALL COMPANY FUND
Year Ended August 31, 2008 | Year Ended August 31, 2007 | |||||||||||||||
Shares | Amount | Shares | Amount | |||||||||||||
Class N | ||||||||||||||||
Sold | 855,667 | $ | 22,022,347 | 1,388,782 | $ | 41,006,702 | ||||||||||
Dividends and/or distributions reinvested | 560,798 | 14,917,623 | 44,605 | 1,154,389 | ||||||||||||
Redeemed | (1,639,481 | ) | (37,789,188 | )1 | (962,295 | ) | (26,383,025 | )2 | ||||||||
Net increase (decrease) | (223,016 | ) | $ | (849,218 | ) | 471,092 | $ | 15,778,066 | ||||||||
Class Y | ||||||||||||||||
Sold | 6,986,567 | $ | 189,958,416 | 9,458,020 | $ | 281,159,481 | ||||||||||
Dividends and/or distributions reinvested | 3,179,109 | 87,163,029 | 150,835 | 4,006,165 | ||||||||||||
Redeemed | (5,169,413 | ) | (116,374,550 | )1 | (793,289 | ) | (23,168,786 | )2 | ||||||||
Net increase | 4,996,263 | $ | 160,746,895 | 8,815,566 | $ | 261,996,860 | ||||||||||
1. | Net of redemption fees of $43,114, $3,114, $7,909, $1,941 and $11,661 for Class A, Class B, Class C, Class N and Class Y, respectively. | |
2. | Net of redemption fees of $32,715, $3,632, $7,339, $883 and $13,866 for Class A, Class B, Class C, Class N and Class Y, respectively. |
Purchases | Sales | |||||||
Investment securities | $ | 1,705,617,639 | $ | 2,388,818,753 |
Fee Schedule | ||||
Up to $250 million | 0.80 | % | ||
Next $250 million | 0.77 | |||
Next $500 million | 0.75 | |||
Next $1 billion | 0.69 | |||
Next $4 billion | 0.67 | |||
Over $6 billion | 0.65 |
F24 | OPPENHEIMER INTERNATIONAL SMALL COMPANY FUND
Class A | Class B | Class C | Class N | |||||||||||||||||
Class A | Contingent | Contingent | Contingent | Contingent | ||||||||||||||||
Front-End | Deferred | Deferred | Deferred | Deferred | ||||||||||||||||
Sales Charges | Sales Charges | Sales Charges | Sales Charges | Sales Charges | ||||||||||||||||
Retained by | Retained by | Retained by | Retained by | Retained by | ||||||||||||||||
Year Ended | Distributor | Distributor | Distributor | Distributor | Distributor | |||||||||||||||
August 31, 2008 | $ | 151,163 | $ | 133,308 | $ | 206,862 | $ | 96,173 | $ | 2,762 |
F25 | OPPENHEIMER INTERNATIONAL SMALL COMPANY FUND
F26 | OPPENHEIMER INTERNATIONAL SMALL COMPANY FUND
F27 | OPPENHEIMER INTERNATIONAL SMALL COMPANY FUND
F28 | OPPENHEIMER INTERNATIONAL SMALL COMPANY FUND
25 | OPPENHEIMER INTERNATIONAL SMALL COMPANY FUND
26 | OPPENHEIMER INTERNATIONAL SMALL COMPANY FUND
27 | OPPENHEIMER INTERNATIONAL SMALL COMPANY FUND
28 | OPPENHEIMER INTERNATIONAL SMALL COMPANY FUND
29 | OPPENHEIMER INTERNATIONAL SMALL COMPANY FUND
Name, Position(s) Held with the Fund, Length of Service, Age | Principal Occupation(s) During the Past 5 Years; Other Trusteeships/Directorships Held; Number of Portfolios in the Fund Complex Currently Overseen | |
INDEPENDENT TRUSTEES | The address of each Trustee in the chart below is 6803 S. Tucson Way, Centennial, Colorado 80112-3924. Each Trustee serves for an indefinite term, or until his or her resignation, retirement, death or removal. | |
Brian F. Wruble, Chairman of the Board of Trustees (since 2007), Trustee (since 2005) Age: 65 | General Partner of Odyssey Partners, L.P. (hedge fund) (September 1995-December 2007); Director of Special Value Opportunities Fund, LLC (registered investment company) (affiliate of the Manager’s parent company) (since September 2004); Chairman (since August 2007) and Trustee (since August 1991) of the Board of Trustees of The Jackson Laboratory (non-profit); Treasurer and Trustee of the Institute for Advanced Study (non-profit educational institute) (since May 1992); Member of Zurich Financial Investment Management Advisory Council (insurance) (2004-2007); Special Limited Partner of Odyssey Investment Partners, LLC (private equity investment) (January 1999-September 2004). Oversees 64 portfolios in the OppenheimerFunds complex. | |
David K. Downes, Trustee (since 2007) Age: 68 | Independent Chairman GSK Employee Benefit Trust (since April 2006); Director of Correctnet (since January 2006); Trustee of Employee Trusts (since January 2006); President, Chief Executive Officer and Board Member of CRAFund Advisors, Inc. (investment management company) (since January 2004); Director of Internet Capital Group (information technology company) (since October 2003); Independent Chairman of the Board of Trustees of Quaker Investment Trust (registered investment company) (2004-2007); President of The Community Reinvestment Act Qualified Investment Fund (investment management company) (2004-2007); Chief Operating Officer and Chief Financial Officer of Lincoln National Investment Companies, Inc. (subsidiary of Lincoln National Corporation, a publicly traded company) and Delaware Investments U.S., Inc. (investment management subsidiary of Lincoln National Corporation) (1993- 2003); President, Chief Executive Officer and Trustee of Delaware Investment Family of Funds (1993-2003); President and Board Member of Lincoln National Convertible Securities Funds, Inc. and the Lincoln National Income Funds, TDC (1993-2003); Chairman and Chief Executive Officer of Retirement Financial Services, Inc. (registered transfer agent and investment adviser and subsidiary of Delaware Investments U.S., Inc.) (1993-2003); President and Chief Executive Officer of Delaware Service Company, Inc. (1995-2003); Chief Administrative Officer, Chief Financial Officer, Vice Chairman and Director of Equitable Capital Management Corporation (investment subsidiary of Equitable Life Assurance Society) (1985-1992); Corporate Controller of Merrill Lynch & Company (financial services holding company) (1977-1985); held the following positions at the Colonial Penn Group, Inc. (insurance company): Corporate Budget Director (1974-1977), Assistant Treasurer (1972-1974) and Director of Corporate Taxes (1969-1972); held the following positions at Price Waterhouse & Company (financial services firm): Tax Manager (1967-1969), Tax Senior (1965-1967) and Staff Accountant (1963-1965); United States Marine Corps (1957-1959). Oversees 64 portfolios in the OppenheimerFunds complex. | |
Matthew P. Fink, Trustee (since 2005) Age: 67 | Trustee of the Committee for Economic Development (policy research foundation) (since 2005); Director of ICI Education Foundation (education foundation) (October 1991-August 2006); President of the Investment Company Institute (trade association) (October 1991-June 2004); Director of ICI Mutual Insurance Company (insurance company) (October 1991-June 2004). Oversees 54 portfolios in the OppenheimerFunds complex. |
30 | OPPENHEIMER INTERNATIONAL SMALL COMPANY FUND
Name, Position(s) Held with the Fund, Length of Service, Age | Principal Occupation(s) During the Past 5 Years; Other Trusteeships/Directorships Held; Number of Portfolios in the Fund Complex Currently Overseen | |
Robert G. Galli, Trustee (since 1997) Age: 75 | A director or trustee of other Oppenheimer funds. Oversees 64 portfolios in the OppenheimerFunds complex. | |
Phillip A. Griffiths, Trustee (since 1999) Age: 70 | Fellow of the Carnegie Corporation (since 2007); Distinguished Presidential Fellow for International Affairs (since 2002) and Member (since 1979) of the National Academy of Sciences; Council on Foreign Relations (since 2002); Director of GSI Lumonics Inc. (precision technology products company) (since 2001); Senior Advisor of The Andrew W. Mellon Foundation (since 2001); Chair of Science Initiative Group (since 1999); Member of the American Philosophical Society (since 1996); Trustee of Woodward Academy (since 1983); Foreign Associate of Third World Academy of Sciences; Director of the Institute for Advanced Study (1991-2004); Director of Bankers Trust New York Corporation (1994-1999); Provost at Duke University (1983-1991). Oversees 54 portfolios in the OppenheimerFunds complex. | |
Mary F. Miller, Trustee (since 2004) Age: 65 | Trustee of International House (not-for-profit) (since June 2007); Trustee of the American Symphony Orchestra (not-for-profit) (since October 1998); and Senior Vice President and General Auditor of American Express Company (financial services company) (July 1998-February 2003). Oversees 54 portfolios in the OppenheimerFunds complex. | |
Joel W. Motley, Trustee (since 2002) Age: 56 | Managing Director of Public Capital Advisors, LLC (privately held financial advisor) (since January 2006); Managing Director of Carmona Motley, Inc. (privately-held financial advisor) (since January 2002); Director of Columbia Equity Financial Corp. (privately-held financial advisor) (2002-2007); Managing Director of Carmona Motley Hoffman Inc. (privately-held financial advisor) (January 1998-December 2001); Member of the Finance and Budget Committee of the Council on Foreign Relations, Member of the Investment Committee of the Episcopal Church of America, Member of the Investment Committee and Board of Human Rights Watch and Member of the Investment Committee of Historic Hudson Valley. Oversees 54 portfolios in the OppenheimerFunds complex. | |
Russell S. Reynolds, Jr., Trustee (since 1997) Age: 76 | Chairman of RSR Partners (formerly “The Directorship Search Group, Inc.”) (corporate governance consulting and executive recruiting) (since 1993); Retired CEO of Russell Reynolds Associates (executive recruiting) (October 1969-March 1993); Life Trustee of International House (non-profit educational organization); Former Trustee of The Historical Society of the Town of Greenwich; Former Director of Greenwich Hospital Association. Oversees 54 portfolios in the OppenheimerFunds complex. | |
Joseph M. Wikler, Trustee (since 2005) Age: 67 | Director of C-TASC (bio-statistics services) (since 2007); Director of the following medical device companies: Medintec (since 1992) and Cathco (since 1996); Director of Lakes Environmental Association (environmental protection organization) (since 1996); Member of the Investment Committee of the Associated Jewish Charities of Baltimore (since 1994); Director of Fortis/Hartford mutual funds (1994-December 2001). Oversees 54 portfolios in the OppenheimerFunds complex. | |
Peter I. Wold, Trustee (since 2005) Age: 60 | President of Wold Oil Properties, Inc. (oil and gas exploration and production company) (since 1994); Vice President of American Talc Company, Inc. (talc mining and milling) (since 1999); Managing Member of Hole-in-the-Wall Ranch (cattle ranching) (since 1979); Vice President, Secretary and Treasurer of Wold Trona Company, Inc. (soda ash processing and production) (1996-2006); Director and Chairman of the Denver Branch of the Federal Reserve Bank of Kansas City (1993-1999); and Director of PacifiCorp. (electric utility) (1995-1999). Oversees 54 portfolios in the OppenheimerFunds complex. |
31 | OPPENHEIMER INTERNATIONAL SMALL COMPANY FUND
Name, Position(s) Held with the Fund, Length of Service, Age | Principal Occupation(s) During the Past 5 Years; Other Trusteeships/Directorships Held; Number of Portfolios in the Fund Complex Currently Overseen | |
INTERESTED TRUSTEE AND OFFICER | The address of Mr. Murphy is Two World Financial Center, 225 Liberty Street, 11th Floor, New York, New York 10281-1008. Mr. Murphy serves as a Trustee for an indefinite term, or until his resignation, retirement, death or removal and as an Officer for an indefinite term, or until his resignation, retirement, death or removal. Mr. Murphy is an interested Trustee due to his positions with OppenheimerFunds, Inc. and its affiliates. | |
John V. Murphy, Trustee, President and Principal Executive Officer (since 2001) Age: 59 | Chairman, Chief Executive Officer and Director of the Manager (since June 2001); President of the Manager (September 2000-February 2007); President and director or trustee of other Oppenheimer funds; President and Director of Oppenheimer Acquisition Corp. (“OAC”) (the Manager’s parent holding company) and of Oppenheimer Partnership Holdings, Inc. (holding company subsidiary of the Manager) (since July 2001); Director of OppenheimerFunds Distributor, Inc. (subsidiary of the Manager) (November 2001-December 2006); Chairman and Director of Shareholder Services, Inc. and of Shareholder Financial Services, Inc. (transfer agent subsidiaries of the Manager) (since July 2001); President and Director of OppenheimerFunds Legacy Program (charitable trust program established by the Manager) (since July 2001); Director of the following investment advisory subsidiaries of the Manager: OFI Institutional Asset Management, Inc., Centennial Asset Management Corporation, Trinity Investment Management Corporation and Tremont Capital Management, Inc. (since November 2001), HarbourView Asset Management Corporation and OFI Private Investments, Inc. (since July 2001); President (since November 2001) and Director (since July 2001) of Oppenheimer Real Asset Management, Inc.; Executive Vice President of Massachusetts Mutual Life Insurance Company (OAC’s parent company) (since February 1997); Director of DLB Acquisition Corporation (holding company parent of Babson Capital Management LLC) (since June 1995); Chairman (since October 2007) and Member of the Investment Company Institute’s Board of Governors (since October 2003). Oversees 103 portfolios in the OppenheimerFunds complex. | |
OTHER OFFICERS OF THE FUND | The addresses of the Officers in the chart below are as follows: for Messrs. Sah, Zack and Ms. Bloomberg, Two World Financial Center, 225 Liberty Street, New York, New York 10281-1008, for Messrs. Vandehey, Wixted, Petersen, Szilagyi and Ms. Ives, 6803 S. Tucson Way, Centennial, Colorado 80112-3924. Each Officer serves for an indefinite term or until his or her resignation, retirement, death or removal. | |
Rohit Sah, Vice President (since 2004) Age: 43 | Vice President of the Manager (since January 2004); formerly Assistant Vice President and Assistant Portfolio Manager of the Manager (December 2000-December 2003). An international equities and fixed-income analyst of the Manager (June 1996-December 2000). An officer of 1 portfolio in the OppenheimerFunds complex. | |
Mark S. Vandehey, Vice President and Chief Compliance Officer (since 2004) Age: 58 | Senior Vice President and Chief Compliance Officer of the Manager (since March 2004); Chief Compliance Officer of OppenheimerFunds Distributor, Inc., Centennial Asset Management and Shareholder Services, Inc. (since March 2004); Vice President of OppenheimerFunds Distributor, Inc., Centennial Asset Management Corporation and Shareholder Services, Inc. (since June 1983); Former Vice President and Director of Internal Audit of the Manager (1997-February 2004). An officer of 103 portfolios in the OppenheimerFunds complex. | |
Brian W. Wixted, Treasurer and Principal Financial & Accounting Officer (since 1999) Age: 49 | Senior Vice President and Treasurer of the Manager (since March 1999); Treasurer of the following: HarbourView Asset Management Corporation, Shareholder Financial Services, Inc., Shareholder Services, Inc., Oppenheimer Real Asset Management, Inc. and Oppenheimer Partnership Holdings, Inc. (since March 1999), OFI Private Investments, Inc. (since March 2000), |
32 | OPPENHEIMER INTERNATIONAL SMALL COMPANY FUND
Name, Position(s) Held with the Fund, Length of Service, Age | Principal Occupation(s) During the Past 5 Years; Other Trusteeships/Directorships Held; Number of Portfolios in the Fund Complex Currently Overseen | |
Brian W. Wixted, Continued | OppenheimerFunds International Ltd. and OppenheimerFunds plc (since May 2000), OFI Institutional Asset Management, Inc. (since November 2000), and OppenheimerFunds Legacy Program (charitable trust program established by the Manager) (since June 2003); Treasurer and Chief Financial Officer of OFI Trust Company (trust company subsidiary of the Manager) (since May 2000); Assistant Treasurer of the following: OAC (since March 1999), Centennial Asset Management Corporation (March 1999-October 2003) and OppenheimerFunds Legacy Program (April 2000-June 2003). An officer of 103 portfolios in the OppenheimerFunds complex. | |
Brian S. Petersen, Assistant Treasurer (since 2004) Age: 38 | Vice President of the Manager (since February 2007); Assistant Vice President of the Manager (August 2002-February 2007); Manager/Financial Product Accounting of the Manager (November 1998-July 2002). An officer of 103 portfolios in the OppenheimerFunds complex. | |
Brian C. Szilagyi, Assistant Treasurer (since 2005) Age: 38 | Assistant Vice President of the Manager (since July 2004); Director of Financial Reporting and Compliance of First Data Corporation (April 2003-July 2004); Manager of Compliance of Berger Financial Group LLC (May 2001-March 2003). An officer of 103 portfolios in the OppenheimerFunds complex. | |
Robert G. Zack, Vice President and Secretary (since 2001) Age: 60 | Executive Vice President (since January 2004) and General Counsel (since March 2002) of the Manager; General Counsel and Director of the Distributor (since December 2001); General Counsel of Centennial Asset Management Corporation (since December 2001); Senior Vice President and General Counsel of HarbourView Asset Management Corporation (since December 2001); Secretary and General Counsel of OAC (since November 2001); Assistant Secretary (since September 1997) and Director (since November 2001) of OppenheimerFunds International Ltd. and OppenheimerFunds plc; Vice President and Director of Oppenheimer Partnership Holdings, Inc. (since December 2002); Director of Oppenheimer Real Asset Management, Inc. (since November 2001); Senior Vice President, General Counsel and Director of Shareholder Financial Services, Inc. and Shareholder Services, Inc. (since December 2001); Senior Vice President, General Counsel and Director of OFI Private Investments, Inc. and OFI Trust Company (since November 2001); Vice President of OppenheimerFunds Legacy Program (since June 2003); Senior Vice President and General Counsel of OFI Institutional Asset Management, Inc. (since November 2001); Director of OppenheimerFunds (Asia) Limited (since December 2003); Senior Vice President (May 1985-December 2003). An officer of 103 portfolios in the OppenheimerFunds complex. | |
Lisa I. Bloomberg, Assistant Secretary (since 2004) Age: 40 | Vice President (since May 2004) and Deputy General Counsel (since May 2008); of the Manager; Associate Counsel of the Manager (May 2004-May 2008); First Vice President (April 2001-April 2004), Associate General Counsel (December 2000-April 2004) of UBS Financial Services Inc. (formerly, PaineWebber Incorporated). An officer of 103 portfolios in the OppenheimerFunds complex. | |
Kathleen T. Ives, Assistant Secretary (since 2001) Age: 43 | Vice President (since June 1998), Deputy General Counsel (since May 2008) and Assistant Secretary (since October 2003) of the Manager; Vice President (since 1999) and Assistant Secretary (since October 2003) of the Distributor; Assistant Secretary of Centennial Asset Management Corporation (since October 2003); Vice President and Assistant Secretary of Shareholder Services, Inc. (since 1999); Assistant Secretary of OppenheimerFunds Legacy Program and Shareholder Financial Services, Inc. (since December 2001); Senior Counsel of the Manager (October 2003-May 2008). An officer of 103 portfolios in the OppenheimerFunds complex. |
33 | OPPENHEIMER INTERNATIONAL SMALL COMPANY FUND
(a) | Audit Fees |
(b) | Audit-Related Fees |
(c) | Tax Fees |
(d) | All Other Fees |
(e) | (1) During its regularly scheduled periodic meetings, the registrant’s audit committee will pre-approve all audit, audit-related, tax and other services to be provided by the principal accountants of the registrant. |
The audit committee has delegated pre-approval authority to its Chairman for any subsequent new engagements that arise between regularly scheduled meeting dates provided that any fees such pre-approved are presented to the audit committee at its next regularly scheduled meeting. | ||
Under applicable laws, pre-approval of non-audit services maybe waived provided that: 1) the aggregate amount of all such services provided constitutes no more than five percent of the total amount of fees paid by the registrant to it principal accountant during the fiscal year in which services are provided 2) such services were not recognized by the registrant at the time of engagement as non-audit services and 3) such services are promptly brought to the attention of the audit committee of the registrant and approved prior to the completion of the audit. |
(f) | Not applicable as less than 50%. | |
(g) | The principal accountant for the audit of the registrant’s annual financial statements billed $289,838 in fiscal 2008 and $244,926 in fiscal 2007 to the registrant and the registrant’s investment adviser or any entity controlling, controlled by, or under common control with the adviser that provides ongoing services to the registrant related to non-audit fees. Those billings did not include any prohibited non-audit services as defined by the Securities Exchange Act of 1934. | |
The registrant’s audit committee of the board of trustees has considered whether the provision of non-audit services that were rendered to the registrant’s investment adviser, and any entity controlling, controlled by, or under common control with the investment adviser that provides ongoing services to the registrant that were not pre-approved pursuant to paragraph (c)(7)(ii) of Rule 2-01 of Regulation S-X is compatible with maintaining the principal accountant’s independence. No such services were rendered |
a) | Not applicable. | ||
b) | Not applicable |
1. | The Fund’s Governance Committee (the “Committee”) will evaluate potential Board candidates to assess their qualifications. The Committee shall have the authority, upon approval of the Board, to retain an executive search firm to assist in this effort. The Committee may consider recommendations by business and personal contacts of current Board members and by executive search firms which the Committee may engage from time to time and may also consider shareholder recommendations. The Committee may consider the advice and recommendation of the Funds’ investment manager and its affiliates in making the selection. | |
2. | The Committee shall screen candidates for Board membership. The Committee has not established specific qualifications that it believes must be met by a trustee nominee. In evaluating trustee nominees, the Committee considers, among other things, an individual’s background, skills, and experience; whether the individual is an “interested person” as defined in the Investment Company Act of 1940; and whether the individual would be deemed an “audit committee financial expert” within the meaning of applicable SEC rules. The Committee also considers whether the individual’s background, skills, and experience will complement the background, skills, and experience of other nominees and will contribute to the Board. There are no differences in the manner in which the Committee evaluates nominees for trustees based on whether the nominee is recommended by a shareholder. | |
3. | The Committee may consider nominations from shareholders for the Board at such times as the Committee meets to consider new nominees for the Board. The Committee shall have the sole discretion to determine the candidates to present to the |
Board and, in such cases where required, to shareholders. Recommendations for trustee nominees should, at a minimum, be accompanied by the following: |
• | the name, address, and business, educational, and/or other pertinent background of the person being recommended; | ||
• | a statement concerning whether the person is an “interested person” as defined in the Investment Company Act of 1940; | ||
• | any other information that the Funds would be required to include in a proxy statement concerning the person if he or she was nominated; and | ||
• | the name and address of the person submitting the recommendation and, if that person is a shareholder, the period for which that person held Fund shares. |
The recommendation also can include any additional information which the person submitting it believes would assist the Committee in evaluating the recommendation. | ||
4. | Shareholders should note that a person who owns securities issued by Massachusetts Mutual Life Insurance Company (the parent company of the Funds’ investment adviser) would be deemed an “interested person” under the Investment Company Act of 1940. In addition, certain other relationships with Massachusetts Mutual Life Insurance Company or its subsidiaries, with registered broker-dealers, or with the Funds’ outside legal counsel may cause a person to be deemed an “interested person.” | |
5. | Before the Committee decides to nominate an individual as a trustee, Committee members and other directors customarily interview the individual in person. In addition, the individual customarily is asked to complete a detailed questionnaire which is designed to elicit information which must be disclosed under SEC and stock exchange rules and to determine whether the individual is subject to any statutory disqualification from serving as a trustee of a registered investment company. |
(a) | (1) Exhibit attached hereto. | |
(2) Exhibits attached hereto. | ||
(3) Not applicable. | ||
(b) | Exhibit attached hereto. |
Oppenheimer International Small Company Fund | ||||
By: | /s/ John V. Murphy | |||
John V. Murphy | ||||
Principal Executive Officer | ||||
Date: | 10/13/2008 |
By: | /s/ John V. Murphy | |||
Principal Executive Officer | ||||
Date: | 10/13/2008 | |||
By: | /s/ Brian W. Wixted | |||
Brian W. Wixted | ||||
Principal Financial Officer | ||||
Date: | 10/13/2008 |