As of March 6, 2006, OppenheimerFunds
will raise the investment minimums of two burgeoning funds to $50,000, according to Morningstar
’s Web site.
OFI spokesperson Jeaneen Pisarra
confirmed to InvestmentWires
that Oppenheimer Developing Markets
(ODMAX) and Oppenheimer International Small Company
(OSMAX) will be restricted to large investors and those already holding 401(k) accounts with OppenheimerFunds.
Both funds are substantially invested in emerging markets, and both have posted remarkably strong performances in recent months. ODMAX has grown almost fourfold, to $9 billion, during manager Mark Madden’s nineteen-month tenure. OSMAX, a small- and micro-cap specialist, now represents $1.5 billion in assets – a large ship to steer for a fund in this category.
Such strong results illustrate how attractive emerging markets have been for some time. ODMAX and OSMAX have holdings in such up-and-coming markets as India, Brazil, China, and Korea.
Stay ahead of the news ... Sign up for our email alerts now