OppenheimerFunds [profile] is changing one of its products, making it a more dividend-oriented fund.

The Oppenheimer Select Value Fund will be known as the Oppenheimer Dividend Opportunity Fund as of Dec. 11, according to a registration form the company filed with the SEC last week.

Currently the fund's total assets amount to about $195.5 million. The fund manager, Laton Spahr, typically invests in large, mid-sized and small U.S. company stocks that are undervalued relative to their potential long-term earnings power.

OppenheimerFunds says on its website that Spahr will remain the fund manager, but the new name reflects a change in strategy. The fund is reportedly expected to see an increase in its dividend yield, international exposure, and number of holdings due to the change.

The fund's benchmark will remain the Russell 3000 Value Index, which it has underperformed in the past year according to Oppenheimer's latest annual report issued in April of 2013.  

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