Multi Sector Income

Fact Sheet

Overview

The Strategy typically invests in a strategic mix of global fixed income sectors to seek high income and total return.

Strategy Inception Date: October 16, 1989

Composite Inception Date: December 31, 2007

Composite AUM: (as of 11/30/2018); $5.00 BN

Composite Benchmark: Bloomberg Barclays US Aggregate Bond Index

Available Vehicles: Separate Account

Commingled Vehicle

Subadvised Account

Global Strategic Income Fund

Performance

Average Annual Returns

Cumulative Returns

Calendar Year Returns

Multi Sector Income

Average Annual Returns as of 09/30/2018

Average Annual Returns as of 11/30/2018

as of 11/30/2018

as of 09/30/2018

	Cumulative		Annualized
	ytd as of 2018-09-30	1 yr	3 yr	5 yr	10 yr	since inception
Multi Sector Income (gross of fees) As of Quarter end 09/30/2018	-1.70%	-0.58%	3.87%	3.24%	5.62%	4.70%
Multi Sector Income (net of fees) As of Quarter end 09/30/2018	-2.05%	-1.05%	3.37%	2.75%	5.12%	4.20%
Bloomberg Barclays US Aggregate Bond Index As of Quarter end 09/30/2018	-1.60%	-1.22%	2.41%	1.43%	4.41%	3.89%

	Cumulative		Annualized
	ytd as of 2018-11-30	1 yr	3 yr	5 yr	10 yr	since inception
Multi Sector Income (gross of fees) As of month end 11/30/2018	-2.98%	-2.22%	3.30%	2.78%	7.24%	4.50%
Multi Sector Income (net of fees) As of month end 11/30/2018	-3.41%	-2.69%	2.81%	2.29%	6.73%	4.00%
Bloomberg Barclays US Aggregate Bond Index As of month end 11/30/2018	-1.79%	-1.34%	2.74%	1.20%	5.15%	3.81%

OFI Global's Multi Sector Income Composite includes every fully representative portfolio managed in the strategy. Certain securities may constitute a significant portion of the portfolio resulting in security and sector weightings that may differ from those of the benchmark index.

Please review the Complete Performance Disclosures

Multi Sector Income

Calendar Year Return as of 11/30/2018

as of 11/30/2018

View Table Graph Print

Year	Multi Sector Income (gross of fees)	Multi Sector Income (net of fees)	Bloomberg Barclays US Aggregate Bond Index
2008	-15.28%	-15.69%	-3.55%
2009	22.10%	21.53%	19.00%
2010	16.63%	16.08%	8.50%
2011	1.92%	1.43%	6.63%
2012	14.54%	13.99%	6.38%
2013	0.59%	0.11%	-0.04%
2014	3.63%	3.14%	1.36%
2015	-1.25%	-1.72%	-3.46%
2016	7.30%	6.79%	7.07%
2017	7.14%	6.63%	3.54%

Please review the Complete Performance Disclosures

Multi Sector Income

Cumulative Returns & Income Dividends

View Table Graph Print

Time Period

YTD

10Y

INCEPTION

Date	Multi Sector Income (gross of fees)	Multi Sector Income (net of fees)	Bloomberg Barclays US Aggregate Bond Index
11/30/2008	0.00	0.00	0.00
12/31/2008	5.42	5.38	5.97
1/31/2009	3.94	3.86	5.49
2/28/2009	-0.33	-0.45	3.12
3/31/2009	1.36	1.19	5.34
4/30/2009	5.86	5.65	9.12
5/31/2009	11.28	11.01	13.43
6/30/2009	12.98	12.67	14.98
7/31/2009	18.30	17.93	18.81
8/31/2009	20.60	20.17	20.92
9/30/2009	25.36	24.87	24.73
10/31/2009	26.99	26.44	25.67
11/30/2009	28.44	27.83	28.52
12/31/2009	28.72	28.06	26.11
1/31/2010	30.11	29.40	27.06
2/28/2010	31.21	30.44	27.40
3/31/2010	34.29	33.44	27.43
4/30/2010	37.86	36.94	28.30
5/31/2010	34.66	33.71	26.32
6/30/2010	37.19	36.17	28.21
7/31/2010	42.18	41.07	32.33
8/31/2010	44.09	42.90	33.86
9/30/2010	48.43	47.15	36.83
10/31/2010	51.13	49.77	39.06
11/30/2010	47.76	46.37	34.82
12/31/2010	50.12	48.65	36.84
1/31/2011	51.10	49.56	37.82
2/28/2011	53.03	51.41	38.82
3/31/2011	54.26	52.56	39.29
4/30/2011	59.15	57.34	42.61
5/31/2011	59.02	57.15	42.98
6/30/2011	58.13	56.21	42.81
7/31/2011	59.50	57.50	45.54
8/31/2011	55.40	53.39	45.70
9/30/2011	49.69	47.69	42.93
10/31/2011	53.83	51.72	45.88
11/30/2011	51.40	49.26	43.76
12/31/2011	53.01	50.78	45.91
1/31/2012	58.07	55.71	48.64
2/29/2012	61.14	58.67	49.04
3/31/2012	60.96	58.43	48.20
4/30/2012	62.30	59.69	50.10
5/31/2012	59.41	56.78	49.08
6/30/2012	62.95	60.20	50.13
7/31/2012	66.58	63.71	52.15
8/31/2012	68.05	65.08	53.43
9/30/2012	70.15	67.08	55.26
10/31/2012	71.49	68.33	55.12
11/30/2012	73.17	69.91	55.33
12/31/2012	75.25	71.88	55.21
1/31/2013	76.63	73.17	54.61
2/28/2013	77.20	73.66	53.91
3/31/2013	77.78	74.16	54.17
4/30/2013	81.20	77.44	56.23
5/31/2013	77.65	73.89	52.52
6/30/2013	71.84	68.13	50.43
7/31/2013	73.54	69.73	52.61
8/31/2013	71.47	67.64	51.88
9/30/2013	73.84	69.89	54.27
10/31/2013	76.31	72.23	56.56
11/30/2013	75.43	71.30	55.71
12/31/2013	76.29	72.07	55.16
1/31/2014	76.64	72.35	57.05
2/28/2014	79.18	74.76	59.48
3/31/2014	79.97	75.46	59.54
4/30/2014	81.21	76.60	61.11
5/31/2014	83.77	79.02	62.19
6/30/2014	85.04	80.18	63.36
7/31/2014	84.55	79.64	61.81
8/31/2014	86.33	81.30	63.23
9/30/2014	83.61	78.58	58.97
10/31/2014	84.91	79.77	59.45
11/30/2014	84.87	79.67	58.65
12/31/2014	82.69	77.47	57.28
1/31/2015	85.23	79.87	57.50
2/28/2015	87.38	81.88	57.65
3/31/2015	87.27	81.70	56.39
4/30/2015	88.18	82.52	58.04
5/31/2015	88.58	82.83	55.96
6/30/2015	86.11	80.36	54.84
7/31/2015	86.98	81.14	55.02
8/31/2015	84.40	78.57	54.50
9/30/2015	81.93	76.10	54.19
10/31/2015	84.26	78.28	55.44
11/30/2015	82.53	76.54	52.45
12/31/2015	80.41	74.42	51.83
1/31/2016	79.40	73.37	52.25
2/29/2016	79.51	73.41	55.18
3/31/2016	83.69	77.38	60.25
4/30/2016	86.76	80.27	63.50
5/31/2016	86.87	80.31	62.48
6/30/2016	88.96	82.25	66.98
7/31/2016	91.82	84.93	68.87
8/31/2016	93.51	86.49	69.31
9/30/2016	94.40	87.27	70.39
10/31/2016	94.12	86.93	67.12
11/30/2016	91.11	83.96	62.05
12/31/2016	93.58	86.26	62.57
1/31/2017	95.65	88.18	62.89
2/28/2017	97.86	90.23	63.98
3/31/2017	97.78	90.08	63.89
4/30/2017	99.68	91.83	65.16
5/31/2017	101.52	93.51	66.43
6/30/2017	101.82	93.73	66.26
7/31/2017	104.16	95.90	66.98
8/31/2017	105.22	96.84	68.48
9/30/2017	105.06	96.60	67.67
10/31/2017	105.51	96.95	67.77
11/30/2017	105.80	97.15	67.56
12/31/2017	107.40	98.61	68.32
1/31/2018	108.32	99.40	66.39
2/28/2018	106.52	97.61	64.81
3/31/2018	106.52	97.53	65.87
4/30/2018	105.41	96.38	64.63
5/31/2018	103.19	94.19	65.81
6/30/2018	102.01	92.98	65.60
7/31/2018	105.16	95.91	65.64
8/31/2018	101.82	92.64	66.71
9/30/2018	103.88	94.53	65.63
10/31/2018	101.21	91.90	64.33
11/30/2018	101.23	91.85	65.31

Please review the Complete Performance Disclosures

Portfolio

Top Asset Allocations

1

2

3

(99.8% of assets as of 11/30/2018)

Multi Sector Income

Portfolio Holdings Breakdown as of 11/30/2018

Portfolio Holdings Breakdown

Country

Developed Markets

Emerging Markets

Credit Rating Allocation

Currency

Country	Multi Sector Income	Bloomberg Barclays US Aggregate Bond Index	Overweight / Underweight
United States	61.7%	91.7%	-30.0%
Eurozone	3.6%	-	-
India	3.5%	-	-
Brazil	2.9%	0.1%	2.8%
Indonesia	2.9%	0.0%	2.9%
South Africa	2.8%	0.0%	2.7%
Greece	2.8%	-	-
Argentina	2.5%	-	-
United Kingdom	2.0%	1.1%	0.9%
Spain	1.7%	0.1%	1.6%
France	1.6%	0.2%	1.4%
Canada	1.5%	1.1%	0.4%
Mexico	1.4%	0.5%	0.9%
Egypt	1.1%	-	-
Peru	1.1%	0.1%	1.0%
Bermuda	1.1%	0.0%	1.1%
Ukraine	0.9%	-	-
Colombia	0.9%	0.2%	0.8%
Dominican Republic	0.8%	-	-
Switzerland	0.7%	0.2%	0.5%

Developed Markets	Multi Sector Income	Bloomberg Barclays US Aggregate Bond Index	Overweight / Underweight
Americas	64.6%	92.8%	-28.3%
Europe	12.1%	3.0%	9.1%
Asia Pacific	0.7%	0.9%	-0.2%
Middle East	0.3%	0.0%	0.2%
Supranational	-0.1%	1.5%	-1.6%

Emerging Markets	Multi Sector Income	Bloomberg Barclays US Aggregate Bond Index	Overweight / Underweight
Americas	10.7%	1.0%	9.6%
Asia Pacific	8.3%	0.5%	7.8%
Africa	5.1%	0.0%	5.1%
Europe	4.8%	0.1%	4.7%
Middle East	0.5%	0.0%	0.5%

Credit Rating Allocation	Multi Sector Income	Bloomberg Barclays US Aggregate Bond Index	Overweight / Underweight
Agency	14.2%	29.6%	-15.4%
AAA	2.3%	4.8%	-2.5%
AA	0.5%	5.3%	-4.8%
A	5.3%	11.7%	-6.5%
BBB	16.4%	9.9%	6.6%
BB	28.9%	-	-
B	22.0%	-	-
CCC	3.8%	-	-
CC	0.2%	-	-
D	0.2%	-	-
Unrated	9.0%	0.3%	8.6%
Other	4.2%	-	-

Currency	Multi Sector Income	Bloomberg Barclays US Aggregate Bond Index	Overweight / Underweight
Norwegian Krone	4.3%	-	-
Swedish Krona	3.7%	-	-
Brazilian Real	2.4%	-	-
Indonesian Rupiah	2.2%	-	-
Chilean Peso	2.0%	-	-
Colombian Peso	1.9%	-	-
Canadian Dollar	1.8%	-	-
Japanese Yen	1.2%	-	-
South African Rand	1.2%	-	-
Indian Rupee	1.2%	-	-
Argentine Peso	1.1%	-	-
Australian Dollar	0.9%	-	-
Polish Zloty	0.8%	-	-
Russian Ruble	0.7%	-	-
Mexican Peso	0.7%	-	-
Egyptian Pound	0.6%	-	-
Korean Won	0.2%	-	-
Turkish New Lira	0.1%	-	-

Analytics

Multi Sector Income

Analytics as of 11/30/2018

(As of 11/30/2018)

Performance Statistics

Alpha

1.42

1.83

Beta

0.49

0.55

Information Ratio

0.16

0.50

R-Squared

34.79

39.54

Sharpe Ratio

0.67

0.65

Standard Deviation

3.36

3.33

Sortino Ratio

1.08

1.01

Tracking Error

3.47

3.16

Portfolio Characteristics

Rep Portfolio

Composite Benchmark

Turnover Ratio

67%

Insights

Team

Hemant Baijal

Co-Head of the Global Debt Team, Head of Multi-Sector Fixed Income

Hemant Baijal is Co-Head of the Global Debt Team, Head of Multi-Sector Fixed Income, and a Portfolio Manager. Prior to joining the Firm, he co-founded Six Seasons Global Asset Management, where he was a Partner and Portfolio Manager with a focus on fixed income macro strategies. Prior to that, he was a Partner and Portfolio Manager at Aravali Partners.

Krishna Memani

Chief Investment Officer, Portfolio Manager

Krishna Memani serves as Chief Investment Officer, overseeing all investment teams at the Firm. He is also the head of Fixed Income. In addition to his investment leadership roles, Krishna is currently a portfolio manager for the Core Plus Bond strategy, Multi Sector Income strategy, Investment Grade Corporate Bond strategy and Oppenheimer Capital Income Fund.

Ruta Ziverte

Portfolio Manager

Ruta Ziverte is a senior portfolio manager on the Multi-Sector Fixed Income team. Prior to joining the Firm, she was a senior vice president and high yield portfolio manager with GE Asset Management. Prior to that, she was a team leader and senior analyst where she co-managed a leveraged finance research team.

Bw christopher kelly oppenheimerfunds headshot2

Chris Kelly, CFA

Co-Head of Global Debt Team

Chris Kelly, CFA, is co-head of the Global Debt team and a portfolio manager of the International Bond and Multi Sector Income strategies, and Oppenheimer Global High Yield Fund. Mr. Kelly’s primary responsibilities include global credit strategy.

Ryan Miller, CFA

Senior Research Analyst

Michael Brian Block, CFA

Portfolio Strategist

Kristina Campmany

Portfolio Strategist

Franco Ditri, CFA

Client Portfolio Manager

The Composite gross-of-fee returns reflect the reinvestment of income and the impact of transaction costs, but do not include the deduction of investment advisory fees, distribution expenses or any other account expenses, such as custodial fees. Composite net-of-fee returns are calculated by deducting a model investment advisory fee (using the maximum investment advisory fee as determined by the product's fee schedule) from the Composite gross-of-fee returns. Annual fees for the Multi Sector Income product are 0.50% on the first $100 million under management, 0.45% on the next $100 million, and 0.40% on any additional amount. Actual fees may vary depending on, among other things, the vehicle type, applicable fee schedule and portfolio size. While actual portfolios incur transaction expenses, pay investment advisory fees, and may incur other account expenses, the custom benchmark indices are shown without the impact of such charges.

1. Holdings are subject to change and are dollar-weighted based on assets.
2. The mention of specific companies does not constitute a recommendation on behalf of OFI Global.
3. The holdings information shown above is derived from a representative account deemed to appropriately represent this management style. The specific securities identified are not representative of all of the securities purchased, sold or recommended for advisory clients. It should not be assumed that an investment in the securities identified was or will be profitable. Actual holdings will vary for each client and there is no guarantee that a particular client's account will hold any or all of the securities listed.

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