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 01/31/2019); $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 12/31/2018

Average Annual Returns as of 01/31/2019

as of 01/31/2019

as of 12/31/2018

	Cumulative		Annualized
	3 mo	1 yr	3 yr	5 yr	10 yr	since inception
Multi Sector Income (gross of fees) As of Quarter end 12/31/2018	-2.09%	-3.75%	3.43%	2.52%	6.59%	4.39%
Multi Sector Income (net of fees) As of Quarter end 12/31/2018	-2.21%	-4.22%	2.94%	2.03%	6.08%	3.89%
Bloomberg Barclays US Aggregate Bond Index As of Quarter end 12/31/2018	1.64%	0.01%	3.50%	1.64%	4.74%	3.96%

	Cumulative		Annualized
	3 mo	1 yr	3 yr	5 yr	10 yr	since inception
Multi Sector Income (gross of fees) As of month end 01/31/2019	3.37%	-0.16%	5.05%	3.32%	7.18%	4.74%
Multi Sector Income (net of fees) As of month end 01/31/2019	3.24%	-0.64%	4.55%	2.83%	6.67%	4.24%
Bloomberg Barclays US Aggregate Bond Index As of month end 01/31/2019	3.53%	2.25%	3.77%	1.61%	4.90%	4.02%

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 01/31/2019

as of 01/31/2019

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%
2018	-3.75%	-4.22%	0.01%

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
1/31/2009	0.00	0.00	0.00
2/28/2009	-4.11	-4.15	-2.25
3/31/2009	-2.49	-2.57	-0.15
4/30/2009	1.84	1.72	3.44
5/31/2009	7.05	6.89	7.52
6/30/2009	8.69	8.48	9.00
7/31/2009	13.81	13.54	12.62
8/31/2009	16.02	15.70	14.62
9/30/2009	20.60	20.23	18.24
10/31/2009	22.17	21.74	19.13
11/30/2009	23.56	23.08	21.83
12/31/2009	23.83	23.30	19.55
1/31/2010	25.17	24.58	20.44
2/28/2010	26.24	25.59	20.76
3/31/2010	29.19	28.48	20.80
4/30/2010	32.63	31.85	21.62
5/31/2010	29.55	28.74	19.74
6/30/2010	31.99	31.10	21.53
7/31/2010	36.79	35.82	25.44
8/31/2010	38.62	37.59	26.89
9/30/2010	42.79	41.68	29.70
10/31/2010	45.39	44.20	31.82
11/30/2010	42.15	40.93	27.80
12/31/2010	44.43	43.12	29.71
1/31/2011	45.36	44.00	30.65
2/28/2011	47.23	45.78	31.59
3/31/2011	48.40	46.89	32.03
4/30/2011	53.11	51.49	35.19
5/31/2011	52.98	51.31	35.54
6/30/2011	52.13	50.40	35.37
7/31/2011	53.45	51.65	37.96
8/31/2011	49.51	47.69	38.12
9/30/2011	44.01	42.19	35.48
10/31/2011	48.00	46.08	38.29
11/30/2011	45.66	43.71	36.27
12/31/2011	47.20	45.18	38.31
1/31/2012	52.07	49.92	40.90
2/29/2012	55.02	52.77	41.28
3/31/2012	54.85	52.54	40.48
4/30/2012	56.14	53.75	42.28
5/31/2012	53.36	50.95	41.32
6/30/2012	56.76	54.24	42.32
7/31/2012	60.26	57.62	44.23
8/31/2012	61.67	58.94	45.44
9/30/2012	63.69	60.86	47.18
10/31/2012	64.98	62.07	47.04
11/30/2012	66.60	63.59	47.25
12/31/2012	68.60	65.49	47.13
1/31/2013	69.93	66.73	46.56
2/28/2013	70.48	67.20	45.90
3/31/2013	71.04	67.69	46.14
4/30/2013	74.32	70.84	48.10
5/31/2013	70.91	67.42	44.57
6/30/2013	65.32	61.88	42.60
7/31/2013	66.95	63.42	44.66
8/31/2013	64.97	61.41	43.97
9/30/2013	67.24	63.57	46.24
10/31/2013	69.62	65.83	48.41
11/30/2013	68.77	64.93	47.60
12/31/2013	69.60	65.67	47.08
1/31/2014	69.94	65.94	48.88
2/28/2014	72.38	68.26	51.17
3/31/2014	73.14	68.94	51.23
4/30/2014	74.34	70.03	52.72
5/31/2014	76.79	72.36	53.74
6/30/2014	78.01	73.48	54.85
7/31/2014	77.55	72.96	53.38
8/31/2014	79.26	74.55	54.73
9/30/2014	76.64	71.94	50.69
10/31/2014	77.89	73.09	51.14
11/30/2014	77.86	72.98	50.39
12/31/2014	75.76	70.87	49.09
1/31/2015	78.20	73.18	49.29
2/28/2015	80.27	75.12	49.44
3/31/2015	80.16	74.94	48.25
4/30/2015	81.04	75.73	49.81
5/31/2015	81.42	76.03	47.84
6/30/2015	79.05	73.65	46.77
7/31/2015	79.89	74.40	46.95
8/31/2015	77.41	71.92	46.46
9/30/2015	75.03	69.55	46.17
10/31/2015	77.27	71.65	47.35
11/30/2015	75.60	69.97	44.51
12/31/2015	73.57	67.93	43.93
1/31/2016	72.59	66.93	44.32
2/29/2016	72.70	66.96	47.10
3/31/2016	76.72	70.78	51.90
4/30/2016	79.67	73.57	54.98
5/31/2016	79.78	73.60	54.02
6/30/2016	81.79	75.48	58.28
7/31/2016	84.54	78.05	60.08
8/31/2016	86.16	79.55	60.50
9/30/2016	87.02	80.30	61.52
10/31/2016	86.76	79.98	58.42
11/30/2016	83.86	77.12	53.61
12/31/2016	86.23	79.33	54.10
1/31/2017	88.23	81.18	54.40
2/28/2017	90.35	83.15	55.44
3/31/2017	90.28	83.01	55.36
4/30/2017	92.10	84.69	56.56
5/31/2017	93.87	86.32	57.76
6/30/2017	94.16	86.52	57.61
7/31/2017	96.41	88.61	58.28
8/31/2017	97.44	89.52	59.70
9/30/2017	97.28	89.29	58.94
10/31/2017	97.71	89.63	59.03
11/30/2017	97.99	89.82	58.83
12/31/2017	99.53	91.22	59.56
1/31/2018	100.41	91.99	57.72
2/28/2018	98.69	90.26	56.23
3/31/2018	98.69	90.18	57.23
4/30/2018	97.61	89.08	56.06
5/31/2018	95.48	86.96	57.17
6/30/2018	94.35	85.80	56.98
7/31/2018	97.38	88.63	57.02
8/31/2018	94.16	85.48	58.03
9/30/2018	96.14	87.30	57.01
10/31/2018	93.57	84.77	55.77
11/30/2018	93.59	84.71	56.70
12/31/2018	92.04	83.16	59.58
1/31/2019	100.09	90.76	61.27

Please review the Complete Performance Disclosures

Portfolio

Top Asset Allocations

1

2

3

(99.9% of assets as of 01/31/2019)

Multi Sector Income

Portfolio Holdings Breakdown as of 01/31/2019

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	60.4%	91.7%	-31.3%
Greece	4.2%	-	-
Argentina	3.2%	-	-
India	3.2%	-	-
Indonesia	3.1%	0.0%	3.0%
Mexico	3.0%	0.5%	2.5%
Brazil	2.7%	0.1%	2.6%
Eurozone	2.7%	-	-
South Africa	2.5%	0.0%	2.5%
United Kingdom	1.9%	1.1%	0.7%
Spain	1.9%	0.1%	1.7%
Canada	1.4%	1.1%	0.3%
France	1.3%	0.2%	1.1%
Switzerland	1.3%	0.2%	1.1%
Peru	1.1%	0.1%	1.0%
Bermuda	1.1%	0.0%	1.1%
Colombia	1.0%	0.2%	0.9%
Egypt	1.0%	-	-
Turkey	0.9%	-	-
Ukraine	0.8%	-	-

Developed Markets	Multi Sector Income	Bloomberg Barclays US Aggregate Bond Index	Overweight / Underweight
Americas	63.2%	92.8%	-29.6%
Europe	12.0%	3.0%	8.9%
Asia Pacific	0.6%	1.0%	-0.4%
Middle East	0.3%	0.0%	0.2%
Supranational	-0.7%	1.5%	-2.1%

Emerging Markets	Multi Sector Income	Bloomberg Barclays US Aggregate Bond Index	Overweight / Underweight
Americas	12.9%	1.0%	11.8%
Asia Pacific	8.4%	0.5%	7.9%
Europe	6.6%	0.1%	6.5%
Africa	4.9%	0.0%	4.9%
Middle East	0.6%	0.0%	0.6%

Credit Rating Allocation	Multi Sector Income	Bloomberg Barclays US Aggregate Bond Index	Overweight / Underweight
Treasury	1.2%	38.7%	-37.4%
Agency	15.1%	29.5%	-14.4%
AAA	2.1%	4.7%	-2.6%
AA	0.5%	5.3%	-4.8%
A	7.2%	11.9%	-4.7%
BBB	17.0%	9.6%	7.4%
BB	27.6%	-	-
B	19.6%	-	-
CCC	3.5%	0.1%	3.5%
CC	0.2%	-	-
D	0.2%	-	-
Unrated	11.2%	0.3%	10.9%
Other	3.3%	-	-

Currency	Multi Sector Income	Bloomberg Barclays US Aggregate Bond Index	Overweight / Underweight
Brazilian Real	3.5%	-	-
Chilean Peso	2.5%	-	-
Norwegian Krone	2.4%	-	-
Argentine Peso	2.4%	-	-
Japanese Yen	2.2%	-	-
Indian Rupee	2.1%	-	-
Indonesian Rupiah	2.0%	-	-
Swedish Krona	1.7%	-	-
Russian Ruble	1.6%	-	-
Mexican Peso	1.4%	-	-
South African Rand	1.3%	-	-
Philippine Peso	1.0%	-	-
Egyptian Pound	1.0%	-	-
Australian Dollar	0.8%	-	-
Polish Zloty	0.6%	-	-
Turkish New Lira	0.4%	-	-
Korean Won	0.2%	-	-

Analytics

Multi Sector Income

Analytics as of 01/31/2019

(As of 01/31/2019)

Performance Statistics

Alpha

2.63

2.10

Beta

0.47

0.55

Information Ratio

0.31

0.47

R-Squared

24.03

32.08

Sharpe Ratio

0.96

0.69

Standard Deviation

3.96

3.80

Sortino Ratio

1.88

1.19

Tracking Error

4.16

3.60

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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