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OppenheimerFunds

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OppenheimerFunds Under Investigation
  • Oppenheimer Champion Income Fund A (OPCHX)
  • Oppenheimer Champion Income Fund B (OCHBX)
  • Oppenheimer Champion Income Fund C (OCHCX)
  • Oppenheimer Core Bond Fund (OPIGX)

Overview

Oppenheimer Champion Income Fund: Bad Bets On Subprime, Credit-Default Swaps Spell Trouble

Wrong-way bets on subprime mortgage securities and risky credit-default swaps have created a financial nightmare for investors of the Oppenheimer Champion Income Fund (OCHCX). The fund has fallen by more than 80% in value, making it the worst-performing taxable high-yield bond fund of 2008. By comparison, similar bonds were down 30%.

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Oppenheimer Core Bond Fund: Alleged Mismanagement, Omissions Hurt Individuals, 529 College Savings Plans

For years, the OppenheimerFunds Core Bond Fund (OPIGX) delivered steady and consistent returns for investors. Then, in 2008, an altogether different scenario began to unfold: The fund plummeted more than 40% in value. By comparison, similar bond funds actually gained 4%. The shocking performance of the Oppenheimer Core Bond Fund has created unexpected financial pain for thousands of investors and state 529 college savings plans, leaving them to wonder how such losses could occur in what was supposed to be an ultra-safe, conservative fund.

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