WSW: Louis Rukeyser's Wall Street Summary & Discussion $treet: Re: 8-9-02 - William L. Wilby

» Kirk - Re: 8-9-02 - William L. Wilby

In response to message posted by SteveT:

Thanks for the report Steve.

I am always amazed that funds like "Oppenheimer" are so popular despite their high costs. My guess is most all are "sold" to the public as they have high loads except for the "no load C shares" which have expense ratios over 2%.

http://biz.yahoo.com/p/o/oppax.html
Oppenheimer Global Fund seeks capital appreciation. Oppenheimer Global Fund seeks capital appreciation. The fund invests primarily in common stocks and convertible securities issued by U.S. and foreign companies. It ordinarily maintains investments in at least three countries. The fund may invest in securities of companies in cyclical industries and special situations.
Lead Manager: William L. Wilby

"A Shares"
Profile - Oppenheimer Global A (OPPAX)
Total Expense Ratio 1.12%
Max 12b1 Fee 0.25%
Max Front End Sales Charge 5.75%
Max Deferred Sales Charge 0%

"C Shares"
Profile - Oppenheimer Global C (OGLCX)
Total Expense Ratio 1.89%
Max 12b1 Fee 0.75%
Max Front End Sales Charge 0%
Max Deferred Sales Charge 1%

1.89% + 0.75% a year is 2.64% - they charge shareholders 0.75% to market the fund to new shareholders! Also, if you don't hold the fund long enough, they add an additional 1%.

Performance isn't that bad… until you subtract the loads…

<img src=http://pvcharts.quicken.com/bin/icenter.... width=470 height=250>

On a 5 yr chart, it looks like he earned his fees as he got much of the NASDAQ run and then kept a good deal of it.
He is up about 33% since the October 1998 lows and is about even since January 1999… Good results!

<img src=http://pvcharts.quicken.com/bin/icenter.... width=470 height=250>

-- posted by Kirk