-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, HBxv5QH7witT4SE84fNPK9EMoZoTvDiOVkBR8xsBQgcRWPDerrelx35ZBZUDRZN5 RGubA7XnJHhdiTQ4+Kyb0Q== 0000935069-02-001024.txt : 20020905 0000935069-02-001024.hdr.sgml : 20020905 20020905142053 ACCESSION NUMBER: 0000935069-02-001024 CONFORMED SUBMISSION TYPE: N-30D PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20020630 FILED AS OF DATE: 20020905 FILER: COMPANY DATA: COMPANY CONFORMED NAME: CENTENNIAL MONEY MARKET TRUST CENTRAL INDEX KEY: 0000312538 IRS NUMBER: 840856138 STATE OF INCORPORATION: MA FISCAL YEAR END: 0630 FILING VALUES: FORM TYPE: N-30D SEC ACT: 1940 Act SEC FILE NUMBER: 811-02945 FILM NUMBER: 02757393 BUSINESS ADDRESS: STREET 1: 6803 SOUTH TUCSON WAY CITY: ENGLEWOOD STATE: CO ZIP: 80112 BUSINESS PHONE: 303-768-3200 MAIL ADDRESS: STREET 2: 3410 SOUTH GALENA STREET CITY: DENVER STATE: CO ZIP: 80231 FORMER COMPANY: FORMER CONFORMED NAME: DAILY CASH INSTITUTIONAL TRUST DATE OF NAME CHANGE: 19810624 N-30D 1 g5284_oppcentmoneymkt.txt DEAR SHAREHOLDER: We are pleased to provide you with this annual report for Centennial Money Market Trust. For the 12-month reporting period that ended June 30, 2002, the Trust provided a 2.00% compounded annual yield. Without the effects of compounding, the equivalent yield was 1.98%. As of June 30, 2002, the seven-day annualized yields, with and without compounding, were 1.47% and 1.46%, respectively.(1) When the 12-month period began last July, the U.S. economy was struggling to stay afloat, resisting the Federal Reserve Board's (the Fed) aggressive efforts to stimulate growth. The Fed continued to cut interest rates sharply--five times during the first half of the reporting period and eleven times in all during 2001. By year's end, the federal funds rate stood at just 1.75%--its lowest level since 1961--and yet the economy continued to decline. The September 11 terrorist attacks only accelerated the fall, plunging the economy into recession and ending the longest expansion in U.S. history. The recession proved to be short-lived, as consumers, encouraged by low rates, helped the economy rebound by continuing to spend freely. Nevertheless, many question marks remained for investors--especially stock investors--who were anxious about corporate accounting practices and ongoing earnings weakness. This anxiety led investors toward high-quality fixed-income securities as an alternative to stocks. In this environment, there was robust demand for bonds that investors perceived to be safe havens. With low interest rates dominating the period, yields on fixed-income securities with very short maturities--such as those found in the Trust--were universally low. As a result, our challenge became identifying short-term investments offering both strong credit characteristics and an attractive income stream. Credit quality is always an important consideration for us, but it was an especially significant factor immediately following September 11 when market sentiment became extremely risk-averse. Our response was to sharply curtail our investments in industries whose credit we believed to be at risk during the recession, including energy and telecommunications. We were encouraged to maintain the Trust's average maturity as long as possible over the fiscal year, in order to lock in higher yields for an extended period of time. However, for roughly the first half of the period, the Trust operated under a requirement to maintain the portfolio's average maturity below 60 days. Accordingly, we kept the maturity very close to that level to maximize yields while striving to offer a stable net asset value for shareholders. 1. Compounded yields assume reinvestments of dividends. The Trust's investment strategy, allocations, and focus can change over time. In February 2002, the maturity requirement was modified, enabling us to increase the Trust's average maturity to 90 days and bring it in line with that of other similarly managed funds. With this new guideline in place, we sought to capture higher yields by increasing the portfolio's percentage of securities with longer maturities and stronger credit quality. The majority of the Trust's investments are in commercial paper--short-term corporate debt obligations that mature in 270 days or less. As the period went on, however, it became more difficult to find attractive commercial paper as many companies issued longer-maturity debt to lock in the low interest rates. This decreased the supply of commercial paper, and led us to look for other investment opportunities. As a result, we invested a higher-than-usual portion of the Trust's assets in discount notes issued by government-sponsored agencies. This action strengthened the Trust's overall credit quality, while market dynamics helped temporarily boost yields of agency issues above those of commercial paper--making these investments even more attractive. Looking ahead, we plan to continue managing the Trust defensively. Although we do not expect the Fed to raise rates anytime soon, we believe interest rates are unlikely to remain at their current levels. Therefore, we're positioning the Trust to attempt to earn a competitive yield in the current low-interest-rate environment while preparing the portfolio for potential future rate increases. In line with this strategy, we've been looking to buy appropriate longer-maturity securities, as well as continuing to invest in floating-rate debt that would reflect higher yields should they become available. As we strive to maximize yields for Trust shareholders, our overriding goal remains providing a stable investment amid significant market and economic uncertainty. Sincerely, /s/ James C. Swain /s/ John V. Murphy - ----------------------------- ------------------- James C. Swain John V. Murphy CEO and Chairman President Centennial Money Market Trust Centennial Money Market Trust July 22, 2002 IN REVIEWING PERFORMANCE, PLEASE REMEMBER THAT PAST PERFORMANCE CANNOT GUARANTEE FUTURE RESULTS. YIELDS WILL FLUCTUATE. AN INVESTMENT IN THE TRUST IS NOT INSURED OR GUARANTEED BY THE FEDERAL DEPOSIT INSURANCE CORPORATION OR ANY OTHER GOVERNMENT AGENCY. ALTHOUGH THE TRUST SEEKS TO PRESERVE THE VALUE OF YOUR INVESTMENT AT $1.00 PER SHARE, IT IS POSSIBLE TO LOSE MONEY BY INVESTING IN THE TRUST. 2 STATEMENT OF INVESTMENTS June 30, 2002 Centennial Money Market Trust
PRINCIPAL VALUE AMOUNT SEE NOTE 1 ========================================================================================================================== CERTIFICATES OF DEPOSIT--16.8% DOMESTIC CERTIFICATES OF DEPOSIT--3.2% Citibank NA: 1.82%, 8/6/02 ............................................................... $ 70,000,000 $ 70,000,000 1.95%, 7/2/02 ............................................................... 30,000,000 30,000,000 National Bank of Commerce, Tennessee: 1.81%, 1/24/03 .............................................................. 25,000,000 24,987,136 1.84%, 7/18/02 .............................................................. 30,000,000 30,000,214 1.874%, 6/23/03 ............................................................. 100,000,000 99,984,850 1.88%, 6/20/03(1) ........................................................... 60,000,000 59,993,976 1.894%, 10/2/02(1) .......................................................... 20,000,000 20,000,526 2.01%, 11/18/02 ............................................................. 50,000,000 50,000,000 State Street Bank and Trust, 1.93%, 8/9/02 ..................................... 100,000,000 100,000,000 Suntrust Bank, 1.955%, 5/23/03 ................................................. 66,200,000 66,256,348 U.S. Bank NA MN, 2%, 11/1/02 ................................................... 45,000,000 45,000,000 Wells Fargo Bank NA, 1.79%, 8/5/02 ............................................. 100,000,000 100,000,000 ------------------- 696,223,050 ------------------- YANKEE CERTIFICATES OF DEPOSIT--13.6% ABN AMRO Bank NV, Chicago, 2.13%, 9/30/02 ...................................... 135,000,000 135,001,686 Bank of Scotland, New York: 1.75%, 7/29/02 .............................................................. 40,000,000 40,000,000 1.85%, 7/24/02 .............................................................. 25,000,000 25,000,000 1.93%, 8/15/02 .............................................................. 100,000,000 100,000,000 1.94%, 8/21/02 .............................................................. 100,000,000 100,000,000 1.94%, 8/30/02 .............................................................. 25,000,000 25,000,000 2.17%, 9/20/02 .............................................................. 50,000,000 50,000,000 BNP Paribas, Chicago: 1.77%, 8/1/02 ............................................................... 43,000,000 43,000,000 2.10%, 10/17/02 ............................................................. 50,000,000 50,000,000 2.11%, 12/16/02 ............................................................. 70,000,000 70,000,000 BNP Paribas, New York: 1.71%, 7/31/02 .............................................................. 50,000,000 50,000,826 1.96%, 11/13/02 ............................................................. 120,000,000 120,000,000 2.14%, 10/9/02 .............................................................. 60,000,000 60,003,298 Danske Bank, New York: 1.70%, 7/31/02 .............................................................. 25,000,000 25,000,000 1.93%, 8/30/02 .............................................................. 100,000,000 100,000,000 2.065%, 12/20/02 ............................................................ 100,000,000 100,002,359 Deutsche Bank AG, 1.83%, 7/30/02 ............................................... 100,000,000 100,000,000
3 STATEMENT OF INVESTMENTS Continued Centennial Money Market Trust
PRINCIPAL VALUE AMOUNT SEE NOTE 1 ========================================================================================================================== YANKEE CERTIFICATES OF DEPOSIT CONTINUED Lloyds TSB Bank plc, New York: 1.92%, 12/16/02 ............................................................. $ 80,000,000 $ 80,022,010 1.93%, 8/12/02 .............................................................. 75,000,000 75,000,000 1.93%, 8/19/02 .............................................................. 35,000,000 35,000,000 1.96%, 12/12/02 ............................................................. 50,000,000 50,000,000 2%, 11/29/02 ................................................................ 100,000,000 100,016,341 Nordea Bank Finland plc, New York: 1.92%, 7/26/02 .............................................................. 100,000,000 100,000,000 1.95%, 11/14/02 ............................................................. 100,000,000 100,000,000 2.10%, 12/12/02 ............................................................. 85,000,000 85,000,000 Rabobank Nederland NV, New York, 2.13%, 10/11/02 ............................... 95,000,000 95,000,000 Royal Bank of Canada: 1.835%, 12/17/02 ............................................................ 50,000,000 49,569,285 1.853%, 12/16/02 ............................................................ 100,000,000 99,135,267 Royal Bank of Scotland, New York: 1.68%, 7/15/02 .............................................................. 80,000,000 80,000,000 1.68%, 7/17/02 .............................................................. 50,000,000 50,000,000 2.10%, 2/13/03 .............................................................. 50,000,000 50,000,000 Societe Generale: 1.89%, 12/27/02 ............................................................. 100,000,000 100,004,925 1.95%, 11/8/02 .............................................................. 75,000,000 75,000,000 Svenska Handelsbanken, NY: 1.94%, 1/22/03 .............................................................. 125,000,000 125,007,036 1.96%, 1/17/03 .............................................................. 125,000,000 125,000,000 UBS AG Stamford CT: 1.775%, 7/31/02 ............................................................. 45,000,000 45,000,186 1.80%, 7/31/02 .............................................................. 40,000,000 39,995,690 1.855%, 7/31/02 ............................................................. 100,000,000 100,000,412 1.995%, 2/20/03 ............................................................. 100,000,000 100,003,206 ------------------- 2,951,762,527 ------------------- Total Certificates of Deposit (Cost $3,647,985,577) ............................ 3,647,985,577 ------------------- DIRECT BANK OBLIGATIONS--12.6% Abbey National North America LLC, 1.94%, 12/12/02 .............................. 19,000,000 18,832,082 Abbey National Treasury Services (gtd. by Abbey National plc): 1.68%, 7/31/02 .............................................................. 83,000,000 82,995,883 1.81%, 7/9/02 ............................................................... 50,000,000 50,001,538 1.84%, 7/24/02 .............................................................. 88,000,000 88,000,000 1.84%, 7/29/02 .............................................................. 100,000,000 100,000,000 2.065%, 12/20/02 ............................................................ 75,000,000 75,001,770
4 STATEMENT OF INVESTMENTS Continued Centennial Money Market Trust
PRINCIPAL VALUE AMOUNT SEE NOTE 1 ========================================================================================================================== DIRECT BANK OBLIGATIONS Continued Danske Corp., Series A: 1.88%, 7/8/02 ............................................................... $ 38,250,000 $ 38,236,018 1.92%, 12/11/02 ............................................................. 50,000,000 49,565,333 1.98%, 9/4/02 ............................................................... 50,000,000 49,821,250 Danske Corp., Series B, 1.90%, 7/5/02 .......................................... 25,000,000 24,994,722 Deutsche Bank Financial LLC, 1.821%, 7/29/02 ................................... 150,000,000 149,787,550 Governor & Co. of the Bank of Ireland: 1.91%, 7/8/02(2) ............................................................ 35,000,000 34,987,001 1.92%, 7/3/02(2) ............................................................ 45,000,000 44,995,200 1.94%, 11/4/02(2) ........................................................... 90,000,000 89,388,900 2.03%, 10/22/02(2) .......................................................... 40,000,000 39,745,122 2.09%, 10/17/02(2) .......................................................... 75,000,000 74,529,750 2.10%, 10/9/02(2) ........................................................... 75,000,000 74,562,500 2.155%, 10/2/02(2) .......................................................... 50,000,000 49,721,646 Halifax plc, 1.93%, 11/13/02 ................................................... 85,000,000 84,384,813 LaSalle Bank NA, 2.09%, 9/9/02 ................................................. 145,000,000 145,000,000 Lloyds TSB Bank plc, 1.92%, 8/12/02 ............................................ 80,000,000 79,820,800 Nationwide Building Society: 1.88%, 12/16/02 ............................................................. 40,000,000 39,649,067 1.91%, 8/5/02 ............................................................... 89,500,000 89,333,804 1.91%, 8/9/02 ............................................................... 40,000,000 39,917,233 1.91%, 8/28/02 .............................................................. 100,000,000 99,692,278 1.93%, 8/15/02 .............................................................. 100,000,000 99,758,750 1.93%, 8/16/02 .............................................................. 50,000,000 49,876,694 Nordea North America, Inc. (gtd. by Merita Bank plc): 1.85%, 12/5/02 .............................................................. 18,000,000 17,854,775 1.91%, 7/30/02 .............................................................. 20,000,000 19,969,228 1.91%, 8/1/02 ............................................................... 47,500,000 47,421,876 1.955%, 11/25/02 ............................................................ 17,000,000 16,864,290 Rabobank Nederland NV, 1.92%, 8/7/02 ........................................... 100,000,000 99,802,667 Societe Generale North America: 2.04%, 12/19/02 ............................................................. 18,000,000 17,825,580 2.23%, 10/2/02 .............................................................. 70,000,000 69,596,742 2.23%, 10/3/02 .............................................................. 50,000,000 49,708,861 Svenska Handelsbanken, Inc., Series S (gtd. by Svenska Handelsbanken AG): 1.79%, 7/1/02 ............................................................... 100,000,000 100,000,000 1.90%, 11/27/02 ............................................................. 22,511,000 22,333,976 1.905%, 12/16/02 ............................................................ 25,000,000 24,777,750 1.97%, 1/9/03 ............................................................... 25,000,000 24,737,333
5 STATEMENT OF INVESTMENTS Continued Centennial Money Market Trust
Principal Value Amount See Note 1 ========================================================================================================================== DIRECT BANK OBLIGATIONS Continued U.S. Bank NA MN, 2.03%, 10/24/02 ............................................... $ 145,000,000 $ 145,000,000 U.S. Bank NA MN, North Dakota, 1.759%, 4/30/03(1) .............................. 150,000,000 149,937,000 UBS Finance (Delaware) LLC: 1.98%, 9/4/02 ............................................................... 10,000,000 9,964,250 2.23%, 9/25/02 .............................................................. 50,000,000 49,733,639 ------------------- Total Direct Bank Obligations (Cost $2,728,127,671) ............................ 2,728,127,671 ------------------- LETTERS OF CREDIT--0.7% Barclays Bank plc, guaranteeing commercial paper of Banco Nacional de Comercio Exterior SNC: 1.92%, 7/26/02 .............................................................. 46,000,000 45,938,667 1.93%, 7/25/02 .............................................................. 30,000,000 29,961,400 2.25%, 9/26/02 .............................................................. 10,000,000 9,945,625 Barclays Bank plc, guaranteeing commercial paper of PEMEX Capital, Inc.: 1.91%, 8/8/02 ............................................................... 49,500,000 49,400,202 2.01%, 12/2/02 .............................................................. 25,000,000 24,785,042 ------------------- Total Letters of Credit (Cost $160,030,936) .................................... 160,030,936 ------------------- SHORT-TERM NOTES--67.7% AEROSPACE & DEFENSE--1.3% General Dynamics Corp.: 1.91%, 8/7/02(2) ............................................................ 50,000,000 49,901,847 1.91%, 8/12/02(2) ........................................................... 45,000,000 44,899,725 2.06%, 9/13/02(2) ........................................................... 60,000,000 59,745,934 2.08%, 9/30/02(2) ........................................................... 40,000,000 39,789,689 2.16%, 9/5/02(2) ............................................................ 50,000,000 49,802,000 2.17%, 9/16/02(2) ........................................................... 33,000,000 32,846,834 ------------------- 276,986,029 ------------------- ASSET-BACKED--25.2% Barton Capital Corp., 1.75%, 7/8/02(2) ......................................... 50,000,000 49,982,986 BILLS Securitisation Ltd.: 1.82%, 9/10/02 .............................................................. 95,000,000 94,659,003 1.87%, 8/22/02 .............................................................. 145,000,000 144,608,339 1.90%, 8/19/02 .............................................................. 100,000,000 99,741,389 2.03%, 10/18/02 ............................................................. 85,000,000 84,477,557
6 STATEMENT OF INVESTMENTS Continued Centennial Money Market Trust
PRINCIPAL VALUE AMOUNT SEE NOTE 1 ========================================================================================================================== ASSET-BACKED CONTINUED Charta Corp.: 1.79%, 7/25/02(2) ........................................................... $ 31,890,000 $ 31,851,945 1.79%, 8/26/02(2) ........................................................... 50,000,000 49,860,778 1.80%, 7/1/02(2) ............................................................ 50,000,000 50,000,000 1.80%, 7/24/02(2) ........................................................... 40,000,000 39,954,000 1.80%, 8/8/02(2) ............................................................ 45,000,000 44,914,500 1.81%, 8/9/02(2) ............................................................ 43,500,000 43,414,704 1.87%, 7/15/02(2) ........................................................... 25,000,000 24,981,819 1.88%, 7/18/02(2) ........................................................... 20,000,000 19,982,244 1.89%, 7/8/02(2) ............................................................ 90,000,000 89,966,925 Crown Point Capital Co.: 1.81%, 7/18/02(2) ........................................................... 50,000,000 49,957,264 1.81%, 7/19/02(2) ........................................................... 50,000,000 49,954,750 1.82%, 7/10/02(2) ........................................................... 50,000,000 49,977,250 1.82%, 7/12/02(2) ........................................................... 50,000,000 49,972,194 1.83%, 8/5/02(2) ............................................................ 70,000,000 69,875,458 1.85%, 7/17/02(2) ........................................................... 84,000,000 83,930,933 Delaware Funding Corp.: 1.79%, 7/22/02(2) ........................................................... 48,000,000 47,949,880 1.80%, 7/15/02(2) ........................................................... 100,143,000 100,072,900 Fairway Finance Corp.: 1.80%, 7/25/02(2) ........................................................... 35,000,000 34,958,000 1.80%, 8/5/02(2) ............................................................ 42,889,000 42,813,944 1.82%, 7/29/02(2) ........................................................... 24,287,000 24,252,620 1.88%, 7/12/02(2) ........................................................... 50,000,000 49,972,500 1.88%, 7/15/02(2) ........................................................... 35,102,000 35,076,337 1.94%, 12/16/02(2) .......................................................... 20,208,000 20,025,050 1.97%, 8/22/02(2) ........................................................... 50,462,000 50,318,408 2.01%, 11/1/02(2) ........................................................... 25,130,000 24,957,420 2.06%, 10/21/02(2) .......................................................... 25,309,000 25,146,797 2.14%, 10/9/02(2) ........................................................... 29,694,000 29,517,486 2.14%, 10/10/02(2) .......................................................... 30,340,000 30,157,842 2.25%, 9/20/02(2) ........................................................... 50,000,000 49,746,875 Galaxy Funding, Inc.: 1.79%, 7/29/02(2) ........................................................... 50,000,000 49,930,389 1.91%, 7/16/02(2) ........................................................... 25,000,000 24,980,104 1.98%, 7/8/02(2) ............................................................ 107,000,000 106,959,680 2.08%, 12/9/02(2) ........................................................... 100,000,000 99,069,778 2.08%, 12/11/02(2) .......................................................... 85,000,000 84,199,489 2.08%, 12/12/02(2) .......................................................... 35,000,000 34,668,356
7 STATEMENT OF INVESTMENTS Continued Centennial Money Market Trust
PRINCIPAL VALUE AMOUNT SEE NOTE 1 ========================================================================================================================== ASSET-BACKED CONTINUED GOVCO, Inc.: 1.80%, 8/6/02(2) ............................................................ $ 20,000,000 $ 19,964,000 1.80%, 8/21/02(2) ........................................................... 25,000,000 24,936,250 1.81%, 7/23/02(2) ........................................................... 50,000,000 49,944,694 1.87%, 7/10/02(2) ........................................................... 10,000,000 9,995,325 Greyhawk Funding LLC: 1.80%, 8/16/02(2) ........................................................... 40,000,000 39,908,000 1.91%, 11/18/02(2) .......................................................... 100,000,000 99,257,222 1.92%, 7/25/02(2) ........................................................... 80,000,000 79,901,200 1.92%, 7/26/02(2) ........................................................... 100,000,000 99,870,486 1.955%, 8/14/02(2) .......................................................... 65,000,000 64,844,686 2.20%, 9/12/02(2) ........................................................... 30,000,000 29,866,167 Lexington Parker Capital Co. LLC: 1.80%, 7/12/02(2) ........................................................... 20,000,000 19,989,000 1.85%, 7/24/02(2) ........................................................... 90,965,000 90,857,484 1.93%, 7/25/02(2) ........................................................... 130,000,000 129,832,733 2%, 9/6/02(2) ............................................................... 68,000,000 67,746,889 2.02%, 12/2/02(2) ........................................................... 87,000,000 86,248,223 2.05%, 10/18/02(2) .......................................................... 20,000,000 19,875,861 Neptune Funding Corp.: 1.82%, 7/1/02(2) ............................................................ 25,009,000 25,009,000 1.84%, 8/23/02(2) ........................................................... 148,598,000 148,195,465 1.90%, 12/19/02(2) .......................................................... 55,000,000 54,503,625 1.98%, 12/6/02(2) ........................................................... 29,000,000 28,747,990 2.04%, 11/22/02(2) .......................................................... 75,000,000 74,388,000 2.05%, 11/27/02(2) .......................................................... 86,532,000 85,797,800 New Center Asset Trust: 1.80%, 7/10/02 .............................................................. 50,000,000 49,977,500 1.80%, 7/11/02 .............................................................. 50,000,000 49,975,000 1.80%, 7/12/02 .............................................................. 100,000,000 99,945,000 1.80%, 7/22/02 .............................................................. 150,000,000 149,842,500 Old Line Funding Corp., 1.78%, 8/7/02(2) ....................................... 45,183,000 45,100,340 Park Avenue Receivables Corp.: 1.78%, 7/11/02(2) ........................................................... 47,652,000 47,628,439 1.79%, 7/18/02(2) ........................................................... 29,693,000 29,667,901 1.79%, 7/19/02(2) ........................................................... 60,556,000 60,501,802 1.79%, 8/12/02(2) ........................................................... 39,775,000 39,691,937 1.80%, 7/22/02(2) ........................................................... 60,840,000 60,776,118 1.80%, 7/24/02(2) ........................................................... 85,000,000 84,902,250 1.80%, 8/2/02(2) ............................................................ 86,193,000 86,055,091
8 STATEMENT OF INVESTMENTS Continued Centennial Money Market Trust
PRINCIPAL VALUE AMOUNT SEE NOTE 1 ========================================================================================================================== ASSET-BACKED CONTINUED Perry Global Funding LLC, Series A: 1.80%, 8/7/02(2) ............................................................ $ 24,486,000 $ 24,440,701 1.83%, 7/24/02(2) ........................................................... 100,000,000 99,883,083 1.84%, 8/21/02(2) ........................................................... 40,000,000 39,895,733 1.85%, 7/18/02(2) ........................................................... 99,000,000 98,913,512 Scaldis Capital LLC: 1.80%, 7/22/02(2) ........................................................... 35,000,000 34,963,250 1.82%, 8/12/02(2) ........................................................... 35,199,000 35,124,261 1.83%, 7/26/02(2) ........................................................... 21,801,000 21,773,295 1.88%, 12/9/02(2) ........................................................... 50,000,000 49,579,611 1.89%, 7/31/02(2) ........................................................... 10,137,000 10,121,034 2.03%, 8/23/02(2) ........................................................... 18,934,000 18,877,414 2.03%, 8/27/02(2) ........................................................... 70,174,000 69,948,449 2.03%, 11/8/02(2) ........................................................... 29,333,000 29,117,973 2.11%, 10/8/02(2) ........................................................... 104,696,000 104,093,463 2.20%, 9/9/02(2) ............................................................ 25,274,000 25,165,883 Sheffield Receivables Corp.: 1.78%, 7/11/02(2) ........................................................... 50,000,000 49,975,278 1.78%, 7/12/02(2) ........................................................... 54,280,000 54,250,312 1.79%, 7/1/02(2) ............................................................ 47,030,000 47,030,000 1.79%, 7/2/02(2) ............................................................ 100,000,000 99,995,028 1.79%, 7/5/02(2) ............................................................ 100,000,000 99,980,111 1.79%, 7/19/02(2) ........................................................... 50,000,000 49,955,250 VVR Funding LLC: 1.85%, 7/22/02(2) ........................................................... 20,000,000 19,978,417 1.85%, 8/16/02(2) ........................................................... 50,000,000 49,881,806 ------------------- 5,473,525,735 ------------------- BANKS--0.5% Wells Fargo & Co., 1.78%, 7/19/02 .............................................. 100,000,000 99,911,000 ------------------- BEVERAGES--1.8% Diageo Capital plc: 1.82%, 7/11/02(2) ........................................................... 50,000,000 49,974,722 1.86%, 7/8/02(2) ............................................................ 50,000,000 49,981,917 1.93%, 12/4/02(2) ........................................................... 50,000,000 49,581,833 1.98%, 3/11/03(2) ........................................................... 45,000,000 44,373,825 1.99%, 10/21/02(2) .......................................................... 50,000,000 49,690,444 2.215%, 9/23/02(2) .......................................................... 100,000,000 99,483,167 2.215%, 9/24/02(2) .......................................................... 50,000,000 49,738,507 ------------------- 392,824,415 -------------------
9 STATEMENT OF INVESTMENTS Continued Centennial Money Market Trust
PRINCIPAL VALUE AMOUNT SEE NOTE 1 ========================================================================================================================== BROKER-DEALERS--5.6% Banc of America Securities LLC, 2.20%, 7/1/02(1) ............................... $ 20,000,000 $ 20,000,000 Goldman Sachs Group LP, Promissory Note: 1.98%, 12/13/02(3) .......................................................... 85,000,000 85,000,000 2.06%, 11/25/02 ............................................................. 15,000,000 15,000,000 2.08%, 11/6/02(3) ........................................................... 80,000,000 80,000,000 2.11%, 8/29/02(3) ........................................................... 100,000,000 100,000,000 2.11%, 8/30/02(3) ........................................................... 80,000,000 80,000,000 2.12%, 11/19/02(3) .......................................................... 50,000,000 50,000,000 Morgan Stanley Dean Witter & Co.: 1.78%, 7/25/02 .............................................................. 69,000,000 68,918,120 1.82%, 7/22/02 .............................................................. 100,000,000 99,893,833 2%, 12/2/02(1) .............................................................. 200,000,000 200,000,000 7.125%, 1/15/03 ............................................................. 25,000,000 25,639,556 Salomon Smith Barney Holdings, Inc.: 1.78%, 7/11/02 .............................................................. 50,000,000 49,975,278 1.78%, 7/12/02 .............................................................. 50,000,000 49,972,806 1.78%, 7/15/02 .............................................................. 100,000,000 99,930,778 1.79%, 8/1/02 ............................................................... 100,000,000 99,845,861 1.79%, 8/14/02 .............................................................. 100,000,000 99,781,222 ------------------- 1,223,957,454 ------------------- CHEMICALS--1.5% BASF AG: 1.945%, 11/18/02(2) ......................................................... 70,000,000 69,470,528 1.96%, 11/20/02(2) .......................................................... 100,000,000 99,226,889 1.96%, 11/21/02(2) .......................................................... 160,000,000 158,754,311 ------------------- 327,451,728 ------------------- COMMERCIAL FINANCE--0.4% Private Export Fund Corp.: 1.91%, 8/15/02(2) ........................................................... 20,000,000 19,952,250 1.93%, 12/3/02(2) ........................................................... 22,000,000 21,817,186 1.99%, 10/22/02 ............................................................. 23,000,000 22,856,333 2.16%, 10/1/02(2) ........................................................... 17,000,000 16,906,160 ------------------- 81,531,929 ------------------- CONSUMER FINANCE--2.3% American Express Credit Corp., Series B: 1.83%, 4/25/03(1) ........................................................... 70,000,000 70,000,000 1.83%, 5/7/03(1) ............................................................ 160,000,000 160,000,000
10 STATEMENT OF INVESTMENTS Continued Centennial Money Market Trust
PRINCIPAL VALUE AMOUNT SEE NOTE 1 ========================================================================================================================== CONSUMER FINANCE CONTINUED American General Finance Corp.: 1.80%, 8/9/02 ............................................................... $ 80,000,000 $ 79,844,000 1.80%, 8/12/02 .............................................................. 30,000,000 29,937,000 1.84%, 7/11/02 .............................................................. 30,000,000 29,984,667 1.92%, 7/8/02 ............................................................... 24,680,000 24,670,786 1.98%, 1/8/03 ............................................................... 95,000,000 94,002,025 ------------------- 488,438,478 ------------------- DIVERSIFIED FINANCIALS--2.1% GE Capital International Funding, Inc. (gtd. by General Electric Capital Corp.), 2%, 11/1/02(2) .............................................. 9,800,000 9,733,033 General Electric Capital Corp., 2.04%, 12/23/02 ................................ 88,000,000 87,127,333 Prudential Funding LLC: 1.98%, 11/4/02 .............................................................. 50,000,000 49,653,500 1.99%, 10/30/02 ............................................................. 50,000,000 49,665,569 1.99%, 11/1/02 .............................................................. 50,000,000 49,660,042 Wells Fargo Financial, Inc.: 1.86%, 7/10/02 .............................................................. 100,000,000 99,953,500 1.905%, 7/3/02 .............................................................. 100,000,000 99,989,417 ------------------- 445,782,394 ------------------- DIVERSIFIED TELECOMMUNICATION SERVICES--1.8% SBC International, Inc.: 1.82%, 8/26/02(2) ........................................................... 67,500,000 67,308,900 1.91%, 9/18/02(2) ........................................................... 85,000,000 84,643,732 1.975%, 11/4/02(2) .......................................................... 50,000,000 49,654,375 2%, 10/18/02(2) ............................................................. 50,000,000 49,697,222 2%, 10/21/02(2) ............................................................. 100,000,000 99,377,778 2%, 11/20/02(2) ............................................................. 50,000,000 49,605,556 ------------------- 400,287,563 ------------------- FOOD PRODUCTS--0.4% Nestle Capital Corp.: 1.87%, 7/8/02(2) ............................................................ 46,000,000 45,983,274 1.90%, 8/8/02(2) ............................................................ 50,000,000 49,899,722 ------------------- 95,882,996 -------------------
11 STATEMENT OF INVESTMENTS Continued Centennial Money Market Trust
PRINCIPAL VALUE AMOUNT SEE NOTE 1 ========================================================================================================================== GAS UTILITIES--0.2% Centrica plc, 2.03%, 11/13/02(2) ............................................... $ 50,000,000 $ 49,619,375 ------------------- INSURANCE--6.0% Allstate Life Insurance Co., 1.84%, 7/1/02(1) .................................. 50,000,000 50,000,000 GE Financial Assurance Holdings, Inc., 1.95%, 11/4/02(2) ....................... 34,000,000 33,767,950 General Electric Capital Assurance Co., 1.944%, 12/1/03(1,3) ................... 143,000,000 143,000,000 ING America Insurance Holdings, Inc.: 1.85%, 12/11/02 ............................................................. 50,000,000 49,581,180 1.92%, 7/3/02 ............................................................... 11,000,000 10,998,827 1.92%, 8/7/02 ............................................................... 24,000,000 23,952,640 1.92%, 8/8/02 ............................................................... 50,000,000 49,898,667 1.93%, 8/14/02 .............................................................. 50,000,000 49,882,056 1.935%, 8/19/02 ............................................................. 30,000,000 29,920,987 1.97%, 12/4/02 .............................................................. 50,000,000 49,573,167 2.15%, 9/20/02 .............................................................. 25,000,000 24,879,062 2.24%, 9/25/02 .............................................................. 20,000,000 19,892,978 Jackson National Life Insurance Co.: 1.85%, 8/1/02(1) ............................................................ 48,000,000 48,000,000 1.90%, 3/3/03(1) ............................................................ 70,000,000 70,000,000 Metropolitan Life Insurance Co.: 1.854%, 7/1/02(1) ........................................................... 100,000,000 100,000,000 1.894%, 7/1/02(1) ........................................................... 123,500,000 123,500,000 Pacific Life Insurance Co., 1.864%, 2/14/03(1,3) ............................... 71,000,000 71,000,000 Prudential Insurance Co. of America, 2.03%, 1/31/03(1) ......................... 165,000,000 165,000,000 Travelers Insurance Co.: 1.84%, 9/13/02(1,3) ......................................................... 23,000,000 23,000,000 1.85%, 11/29/02(1,3) ........................................................ 50,000,000 50,000,000 1.86%, 9/13/02(1,3) ......................................................... 25,000,000 25,000,000 1.86%, 10/4/02(1,3) ......................................................... 40,000,000 40,000,000 United of Omaha Life Insurance Co., 1.944%, 7/31/03(1) ......................... 50,000,000 50,000,000 ------------------- 1,300,847,514 ------------------- LEASING & FACTORING--3.0% American Honda Finance Corp.: 1.82%, 4/9/03(1) ............................................................ 80,000,000 80,000,000 1.84%, 6/24/03(4) ........................................................... 10,000,000 9,998,995 1.844%, 6/25/03(4) .......................................................... 75,000,000 74,992,500 1.86%, 6/12/03(1,4) ......................................................... 50,000,000 50,000,000 1.89%, 5/19/03(1,4) ......................................................... 50,000,000 50,000,000 1.90%, 9/26/02(1) ........................................................... 40,000,000 40,005,495 1.92%, 11/20/02(1) .......................................................... 80,000,000 80,013,468
12 STATEMENT OF INVESTMENTS Continued Centennial Money Market Trust
PRINCIPAL VALUE AMOUNT SEE NOTE 1 ========================================================================================================================== LEASING & FACTORING CONTINUED Toyota Motor Credit Corp.: 2.03%, 10/8/02(2) ........................................................... $ 13,000,000 $ 12,927,428 2.03%, 10/9/02(2) ........................................................... 46,200,000 45,939,483 Volkswagen of America: 1.98%, 7/1/02(2) ............................................................ 101,200,000 101,200,000 1.98%, 11/6/02(2) ........................................................... 100,000,000 99,296,000 ------------------- 644,373,369 ------------------- MEDIA--0.8% McGraw-Hill Cos., Inc.: 1.85%, 8/8/02 ............................................................... 25,500,000 25,450,204 1.89%, 8/5/02 ............................................................... 40,000,000 39,926,500 2.05%, 10/1/02 .............................................................. 46,000,000 45,759,011 2.10%, 10/9/02 .............................................................. 24,500,000 24,357,083 2.23%, 9/25/02 .............................................................. 24,500,000 24,369,483 2.235%, 9/19/02 ............................................................. 23,000,000 22,885,767 ------------------- 182,748,048 ------------------- METALS & MINING--0.3% Rio Tinto America, Inc. (gtd. by Rio Tinto plc and Rio Tinto Ltd.), 1.79%, 9/19/02(2) .......................................... 50,000,000 49,801,111 Rio Tinto Ltd. (gtd. by Rio Tinto plc and Rio Tinto Ltd.), 1.84%, 7/11/02(2) ... 23,115,000 23,103,186 ------------------- 72,904,297 ------------------- OIL & GAS--3.6% BP Capital Markets plc: 2%, 11/8/02 ................................................................. 80,000,000 79,422,222 2.16%, 9/16/02 .............................................................. 110,500,000 109,989,490 Chevron UK Investment plc (gtd. by ChevronTexaco Corp.): 1.85%, 7/12/02 .............................................................. 35,000,000 34,980,215 1.95%, 11/7/02(2) ........................................................... 15,000,000 14,895,188 1.98%, 9/6/02(2) ............................................................ 25,000,000 24,907,875 2.08%, 10/17/02(2) .......................................................... 30,000,000 29,812,800 Koch Industries, Inc., 1.76%, 7/19/02(2) ....................................... 99,615,000 99,527,339 Shell Finance UK plc: 1.82%, 7/16/02 .............................................................. 17,000,000 16,987,108 1.99%, 10/16/02 ............................................................. 79,500,000 79,029,780 1.99%, 10/21/02 ............................................................. 135,000,000 134,164,200 1.99%, 10/23/02 ............................................................. 40,000,000 39,747,933
13 STATEMENT OF INVESTMENTS Continued Centennial Money Market Trust
PRINCIPAL VALUE AMOUNT SEE NOTE 1 ====================================================================================================================== OIL & GAS CONTINUED 2%, 10/15/02 ................................................................ $ 100,000,000 $ 99,411,111 2.02%, 10/8/02 .............................................................. 21,400,000 21,281,123 ------------------- 784,156,384 ------------------- PHARMACEUTICALS--2.8% Aventis: 1.85%, 7/17/02(2) ........................................................... 50,000,000 49,958,889 1.86%, 7/10/02(2) ........................................................... 30,000,000 29,986,050 GlaxoSmithKline Finance plc: 1.76%, 7/9/02(2) ............................................................ 50,000,000 49,980,444 1.82%, 7/19/02(2) ........................................................... 75,000,000 74,931,750 Wyeth: 1.88%, 8/1/02(2) ............................................................ 80,000,000 79,869,628 1.889%, 12/20/02(2) ......................................................... 160,000,000 160,000,000 1.90%, 7/29/02(2) ........................................................... 75,000,000 74,889,789 1.90%, 7/30/02(2) ........................................................... 45,000,000 44,931,125 1.95%, 7/11/02(2) ........................................................... 48,000,000 47,974,000 ------------------- 612,521,675 ------------------- SPECIAL PURPOSE FINANCIAL--8.1% AriesOne Metafolio Corp.: 1.84%, 7/10/02(2) ........................................................... 100,000,000 99,954,000 1.85%, 7/9/02(2) ............................................................ 35,712,000 35,697,318 Beta Finance, Inc.: 1.789%, 4/22/03(1) .......................................................... 70,000,000 69,993,000 1.80%, 8/15/02(2) ........................................................... 50,000,000 49,887,500 1.97%, 11/14/02(2) .......................................................... 50,000,000 49,627,889 2.02%, 11/27/02(2) .......................................................... 58,000,000 57,515,088 Breeds Hill Capital Co. LLC, Series A, 1.92%, 7/9/02(2) ........................ 95,000,000 94,959,467 Cooperative Assn. of Tractor Dealers, Inc., Series A: 1.885%, 10/8/02 ............................................................. 49,300,000 49,044,441 1.92%, 8/13/02 .............................................................. 11,000,000 10,974,773 2.02%, 10/25/02 ............................................................. 27,300,000 27,122,307 2.03%, 7/1/02 ............................................................... 38,100,000 38,100,000 Cooperative Assn. of Tractor Dealers, Inc., Series B, 1.885%, 10/8/02 .......... 9,000,000 8,953,346 Halogen Capital Co. LLC, Series A: 1.80%, 7/12/02(2) ........................................................... 19,000,000 18,989,550 1.81%, 8/6/02(2) ............................................................ 35,000,000 34,936,650 1.84%, 8/9/02(2) ............................................................ 50,000,000 49,900,333
14 STATEMENT OF INVESTMENTS Continued Centennial Money Market Trust
PRINCIPAL VALUE AMOUNT SEE NOTE 1 ====================================================================================================================== SPECIAL PURPOSE FINANCIAL CONTINUED Independence Funding LLC: 1.80%, 7/15/02(2) ........................................................... $ 40,301,000 $ 40,272,789 1.90%, 9/25/02(2) ........................................................... 25,000,000 24,886,528 1.90%, 12/16/02(2) .......................................................... 24,912,000 24,691,114 1.91%, 9/23/02(2) ........................................................... 126,285,000 125,729,930 K2 (USA) LLC: 1.80%, 7/15/02(2) ........................................................... 14,000,000 13,990,200 1.93%, 7/30/02(2) ........................................................... 40,000,000 39,937,811 1.93%, 8/1/02(2) ............................................................ 20,000,000 19,966,761 1.96%, 8/27/02(2) ........................................................... 40,000,000 39,875,867 1.97%, 8/22/02(2) ........................................................... 30,000,000 29,914,633 1.97%, 8/29/02(2) ........................................................... 42,000,000 41,864,054 1.98%, 8/20/02(2) ........................................................... 36,374,000 36,273,972 2%, 7/31/02(2) .............................................................. 24,000,000 23,960,000 2.01%, 11/22/02(2) .......................................................... 77,069,000 76,447,605 2.10%, 1/15/03(2) ........................................................... 63,000,000 62,294,350 KZH-KMS Corp., 1.82%, 7/19/02(2) ............................................... 49,000,000 48,955,410 LINKS Finance LLC: 1.865%, 5/15/03(1) .......................................................... 100,000,000 99,995,000 1.87%, 5/15/03(1) ........................................................... 57,000,000 56,994,300 2%, 7/1/02(2) ............................................................... 32,743,000 32,743,000 2.02%, 11/27/02(2) .......................................................... 17,700,000 17,552,018 2.05%, 11/15/02(2) .......................................................... 49,000,000 48,617,732 Long Lane Master Trust 4: 1.81%, 7/26/02(4) ........................................................... 75,000,000 74,905,729 1.87%, 7/8/02(4) ............................................................ 34,740,000 34,727,368 1.87%, 7/17/02(4) ........................................................... 35,849,000 35,819,206 1.94%, 7/3/02(4) ........................................................... 17,584,000 17,582,105 ------------------- 1,763,653,144 ------------------- Total Short-Term Notes (Cost $14,717,403,527) .................................. 14,717,403,527 ------------------- U.S. GOVERNMENT AGENCIES--2.4% Federal Home Loan Bank: 1.77%, 8/9/02 ............................................................... 40,000,000 39,923,300 1.78%, 8/2/02 ............................................................... 25,000,000 24,960,445 6%, 8/15/02 ................................................................. 65,000,000 65,325,579 Federal Home Loan Mortgage Corp.: 1.77%, 8/8/02 ............................................................... 143,000,000 142,732,828 1.79%, 8/1/02 ............................................................... 60,000,000 59,907,517 6.25%, 10/15/02 ............................................................. 18,370,000 18,591,983
15 STATEMENT OF INVESTMENTS Continued Centennial Money Market Trust
PRINCIPAL VALUE AMOUNT SEE NOTE 1 ========================================================================================================================== U.S. GOVERNMENT AGENCIES Continued Federal National Mortgage Assn.: 1.67%, 7/17/02 .............................................................. $ 27,700,000 $ 27,679,440 1.77%, 8/7/02 ............................................................... 142,000,000 141,741,678 ------------------- Total U.S. Government Agencies (Cost $520,862,770) ........................... 520,862,770 ------------------- REPURCHASE AGREEMENTS--0.0% Repurchase agreement with PaineWebber, Inc., 1.93%, dated 6/28/02, to be repurchased at $2,900,466 on 7/1/02, collateralized by Federal Home Loan Mortgage Corp., 6%, 6/1/17, with a value of $1,006,301 and Federal National Mortgage Assn., 5.50%, 1/1/32, with a value of $1,959,049 (Cost $2,900,000) ........................................................... 2,900,000 2,900,000 ------------------------------------ TOTAL INVESTMENTS, AT VALUE (COST $21,777,310,481) ............................. 100.2% 21,777,310,481 ------------------------------------ LIABILITIES IN EXCESS OF OTHER ASSETS .......................................... (0.2) (41,371,533) ------------------------------------ NET ASSETS ................................................................... 100.0% $21,735,938,948 ====================================
FOOTNOTES TO STATEMENT OF INVESTMENTS Short-term notes, direct bank obligations and letters of credit are generally traded on a discount basis; the interest rate is the discount rate received by the Trust at the time of purchase. Other securities normally bear interest at the rates shown. 1. Represents the current interest rate for a variable rate security. 2. Security issued in an exempt transaction without registration under the Securities Act of 1933. Such securities amount to $9,106,831,905, or 41.90% of the Trust's net assets, and have been determined to be liquid pursuant to guidelines adopted by the Board of Trustees. 3. Identifies issues considered to be illiquid--See Note 4 of Notes to Financial Statements. 4. Represents securities sold under Rule 144A, which are exempt from registration under the Securities Act of 1933, as amended. These securities have been determined to be liquid under guidelines established by the Board of Trustees. These securities amount to $348,025,903 or 1.60% of the Trust's net assets as of June 30, 2002. See accompanying Notes to Financial Statements. 16 STATEMENT OF ASSETS AND LIABILITIES June 30, 2002 Centennial Money Market Trust
============================================================================================================================= ASSETS Investments, at value (cost $21,777,310,481)--see accompanying statement ..................... $21,777,310,481 Cash ......................................................................................... 27,925,869 Receivables and other assets: Shares of beneficial interest sold ........................................................... 96,382,034 Interest ..................................................................................... 27,010,451 Other ........................................................................................ 655,640 ---------------- Total assets ................................................................................. 21,929,284,475 ---------------- LIABILITIES Payables and other liabilities: Shares of beneficial interest redeemed ....................................................... 178,118,788 Dividends .................................................................................... 8,793,025 Transfer and shareholder servicing agent fees ................................................ 3,472,117 Service plan fees ............................................................................ 1,331,651 Shareholder reports .......................................................................... 904,768 Trustees' compensation ....................................................................... 3,168 Other ........................................................................................ 722,010 ---------------- Total liabilities ............................................................................ 193,345,527 ---------------- NET ASSETS ................................................................................... $21,735,938,948 ================ COMPOSITION OF NET ASSETS Paid-in capital .............................................................................. $21,735,938,948 ---------------- NET ASSETS--applicable to 21,736,541,499 shares of beneficial interest outstanding ........... $21,735,938,948 ================ NET ASSET VALUE, REDEMPTION PRICE PER SHARE AND OFFERING PRICE PER SHARE ................................................................. $1.00 =======
See accompanying Notes to Financial Statements. 17 STATEMENT OF OPERATIONS For the Year Ended June 30, 2002 Centennial Money Market Trust
===================================================================================================================== INVESTMENT INCOME Interest ...................................................................................... $604,002,781 ------------- EXPENSES Management fees ............................................................................... 76,393,970 Service plan fees ............................................................................. 45,827,352 Transfer and shareholder servicing agent fees ................................................. 30,119,218 Shareholder reports ........................................................................... 691,981 Custodian fees and expenses ................................................................... 636,857 Trustees' compensation ........................................................................ 87,729 Other ......................................................................................... 4,716,639 ------------- Total expenses ............................................................................ 158,473,746 Less reduction to custodian expenses .......................................................... (166,556) Less voluntary reimbursement of expenses ...................................................... (7,405,461) ------------- Net expenses .................................................................................. 150,901,729 NET INVESTMENT INCOME ......................................................................... 453,101,052 ------------- NET REALIZED GAIN ON INVESTMENTS .............................................................. 2,031,735 ------------- NET INCREASE IN NET ASSETS RESULTING FROM OPERATIONS .......................................... $455,132,787 ============= STATEMENTS OF CHANGES IN NET ASSETS YEAR ENDED JUNE 30, 2002 2001 ===================================================================================================================== OPERATIONS Net investment income .................................................... $ 453,101,052 $ 1,112,686,413 Net realized gain ........................................................ 2,031,735 696,751 --------------------------------------- Net increase in net assets resulting from operations ..................... 455,132,787 1,113,383,164 --------------------------------------- DIVIDENDS AND/OR DISTRIBUTIONS TO SHAREHOLDERS Dividends from net investment income ..................................... (453,101,052) (1,112,686,413) --------------------------------------- Distributions from net realized gain ..................................... (2,878,464) -- --------------------------------------- BENEFICIAL INTEREST TRANSACTIONS Net increase (decrease) in net assets resulting from beneficial interest transactions .................................................. (473,579,272) 3,475,869,627 --------------------------------------- NET ASSETS Total increase (decrease) ................................................ (474,426,001) 3,476,566,378 Beginning of period ...................................................... 22,210,364,949 18,733,798,571 --------------------------------------- End of period ............................................................ $21,735,938,948 $22,210,364,949 =======================================
See accompanying Notes to Financial Statements. 18 FINANCIAL HIGHLIGHTS Centennial Money Market Trust
YEAR ENDED JUNE 30, 2002 2001 2000 1999 1998 ======================================================================================================================== PER SHARE OPERATING DATA Net asset value, beginning of period ....................... $ 1.00 $ 1.00 $ 1.00 $ 1.00 $ 1.00 Income from investment operations--net investment income and net realized gain ............................. .02 .06 .05 .05 .05 Dividends and/or distributions to shareholders: Dividends from net investment income ..................... (.02) (.06) (.05) (.05) (.05) Distributions from net realized gain ..................... --(1) -- -- -- -- ------------------------------------------------------ Total dividends and/or distributions to shareholders .......................................... (.02) (.06) (.05) (.05) (.05) ------------------------------------------------------ Net asset value, end of period ............................. $1.00 $1.00 $1.00 $1.00 $1.00 ====================================================== TOTAL RETURN(2) ............................................ 1.99% 5.51% 5.36% 4.75% 5.16% RATIOS/SUPPLEMENTAL DATA ................................... Net assets, end of period (in millions) .................... $21,736 $22,210 $18,734 $17,821 $15,114 Average net assets (in millions) ........................... $22,947 $20,830 $18,537 $17,128 $12,617 Ratios to average net assets:(3) Net investment income ...................................... 1.97% 5.34% 5.20% 4.63% 5.04% Expenses ................................................... 0.69% 0.67% 0.67% 0.66% 0.68%(4) Expenses, net of voluntary reimbursement of expenses ....... 0.66% N/A N/A N/A 0.66%
1. Less than $0.005 per share. 2. Assumes an investment on the business day before the first day of the fiscal period, with all dividends reinvested in additional shares on the reinvestment date, and redemption at the net asset value calculated on the last business day of the fiscal period. Total returns reflect changes in net investment income only. Total returns are not annualized for periods of less than one year. 3. Annualized for periods of less than one full year. 4. Expense ratio has been calculated without adjustment for the reduction to custodian expenses. See accompanying Notes to Financial Statements. 19 NOTES TO FINANCIAL STATEMENTS Centennial Money Market Trust ================================================================================ 1. SIGNIFICANT ACCOUNTING POLICIES Centennial Money Market Trust (the Trust) is registered under the Investment Company Act of 1940, as amended, as an open-end management investment company. The Trust's investment objective is to seek the maximum current income that is consistent with low capital risk and the maintenance of liquidity. The Trust's investment advisor is Centennial Asset Management Corporation (the Manager), a subsidiary of OppenheimerFunds, Inc. (OFI). The following is a summary of significant accounting policies consistently followed by the Trust. - -------------------------------------------------------------------------------- SECURITIES VALUATION. Portfolio securities are valued on the basis of amortized cost, which approximates market value. - -------------------------------------------------------------------------------- JOINT REPURCHASE AGREEMENTS. The Trust, along with other affiliated entities managed by OFI, may transfer uninvested cash balances into one or more joint repurchase agreement accounts. These balances are invested in one or more repurchase agreements, secured by U.S. government securities. Securities pledged as collateral for repurchase agreements are held by a custodian bank until the agreements mature. Each agreement requires that the market value of the collateral be sufficient to cover payments of interest and principal; however, in the event of default by the other party to the agreement, retention of the collateral may be subject to legal proceedings. - -------------------------------------------------------------------------------- FEDERAL TAXES. The Trust intends to continue to comply with provisions of the Internal Revenue Code applicable to regulated investment companies and to distribute all of its taxable income to shareholders. Therefore, no federal income or excise tax provision is required. - -------------------------------------------------------------------------------- DIVIDENDS AND DISTRIBUTIONS TO SHAREHOLDERS. Dividends and distributions to shareholders, which are determined in accordance with income tax regulations, are recorded on the ex-dividend date. - -------------------------------------------------------------------------------- CLASSIFICATION OF DIVIDENDS AND DISTRIBUTIONS TO SHAREHOLDERS. Net investment income (loss) and net realized gain (loss) may differ for financial statement and tax purposes. The character of dividends and distributions made during the fiscal year from net investment income or net realized gains may differ from their ultimate characterization for federal income tax purposes. Also, due to timing of dividends and distributions, the fiscal year in which amounts are distributed may differ from the fiscal year in which the income or net realized gain was recorded by the Trust. The Trust adjusts the classification of distributions to shareholders to reflect the differences between financial statement amounts and distributions determined in accordance with income tax regulations. Accordingly, during the year ended June 30, 2002, amounts have been reclassified to reflect a decrease in paid-in capital of $69,836. Accumulated net realized loss on investments was decreased by the same amount. Net assets of the Trust were unaffected by the reclassifications. - -------------------------------------------------------------------------------- SECURITY TRANSACTIONS. Security transactions are recorded on the trade date. Realized gains and losses on securities sold are determined on the basis of identified cost. - -------------------------------------------------------------------------------- OTHER. The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of income and expenses during the reporting period. Actual results could differ from those estimates. 20 NOTES TO FINANCIAL STATEMENTS Continued Centennial Money Market Trust ================================================================================ 2. SHARES OF BENEFICIAL INTEREST The Trust has authorized an unlimited number of no par value shares of beneficial interest. Transactions in shares of beneficial interest were as follows:
YEAR ENDED JUNE 30, 2002 YEAR ENDED JUNE 30, 2001 SHARES AMOUNT SHARES AMOUNT - ------------------------------------------------------------------------------------------------------------------ Sold .......................... 54,965,476,815 $ 54,965,476,815 56,834,272,372 $ 56,834,272,372 Dividends and/or distributions reinvested .... 460,354,977 460,354,977 1,119,562,805 1,119,562,805 Redeemed ...................... (55,899,411,064) (55,899,411,064) (54,477,965,550) (54,477,965,550) -------------------------------------------------------------------------------- Net increase (decrease) ....... (473,579,272) $ (473,579,272) 3,475,869,627 $ 3,475,869,627 ================================================================================
================================================================================ 3. FEES AND OTHER TRANSACTIONS WITH AFFILIATES MANAGEMENT FEES. Management fees paid to the Manager were in accordance with the investment advisory agreement with the Trust which provides for a fee of 0.50% of the first $250 million of the Trust's net assets; 0.475% of the next $250 million; 0.45% of the next $250 million; 0.425% of the next $250 million; 0.40% of the next $250 million; 0.375% of the next $250 million; 0.35% of the next $500 million; and 0.325% of net assets in excess of $2 billion. In the agreement, the Manager guarantees that the Trust's total expenses in any fiscal year, exclusive of taxes, interest and brokerage concessions, and extraordinary expenses such as litigation costs, shall not exceed the lesser of 1.5% of the average annual net assets of the Trust up to $30 million and 1% of its average annual net assets in excess of $30 million; or 25% of the total annual investment income of the Trust. As a result of this agreement, the Trust was reimbursed $7,405,461 for the year ended June 30, 2002. The Trust's management fee for the year ended June 30, 2002, was an annualized rate of 0.33%. - -------------------------------------------------------------------------------- TRANSFER AGENT FEES. Shareholder Services, Inc. (SSI) acts as the transfer and shareholder servicing agent for the Trust and for other registered investment companies. The Trust pays SSI a $14.75 per account fee. - -------------------------------------------------------------------------------- SERVICE PLAN (12B-1) FEES. The Trust has adopted a service plan. It reimburses the Distributor for a portion of its costs incurred for services provided to accounts that hold shares of the Trust. Reimbursement is made quarterly at an annual rate up to 20% of the average annual net assets of the Trust. During the year ended June 30, 2002, the Trust paid $1,151 to a broker/dealer affiliated with the Manager as reimbursement for distribution-related expenses. ================================================================================ 4. ILLIQUID SECURITIES As of June 30, 2002, investments in securities included issues that are illiquid. A security may be considered illiquid if it lacks a readily available market or if its valuation has not changed for a certain period of time. The Trust intends to invest no more than 10% of its net assets (determined at the time of purchase and reviewed periodically) in illiquid securities. The aggregate value of illiquid securities subject to this limitation as of June 30, 2002 was $747,000,000, which represents 3.44% of the Trust's net assets. 21 INDEPENDENT AUDITORS' REPORT Centennial Money Market Trust ================================================================================ TO THE SHAREHOLDERS AND BOARD OF TRUSTEES OF CENTENNIAL MONEY MARKET TRUST: We have audited the accompanying statement of assets and liabilities of Centennial Money Market Trust, including the statement of investments, as of June 30, 2002, and the related statement of operations for the year then ended, the statements of changes in net assets for each of the two years in the period then ended, and the financial highlights for each of the five years in the period then ended. These financial statements and financial highlights are the responsibility of the Trust's management. Our responsibility is to express an opinion on these financial statements and financial highlights based on our audits. We conducted our audits in accordance with auditing standards generally accepted in the United States of America. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements and financial highlights are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. Our procedures included confirmation of securities owned as of June 30, 2002, by correspondence with the custodian and brokers; where replies were not received from brokers, we performed other auditing procedures. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion. In our opinion, the financial statements and financial highlights referred to above present fairly, in all material respects, the financial position of Centennial Money Market Trust as of June 30, 2002, the results of its operations for the year then ended, the changes in its net assets for each of the two years in the period then ended, and the financial highlights for each of the five years in the period then ended, in conformity with accounting principles generally accepted in the United States of America. DELOITTE & TOUCHE LLP Denver, Colorado July 22, 2002 22 FEDERAL INCOME TAX INFORMATION (Unaudited) Centennial Money Market Trust ================================================================================ In early 2003, shareholders will receive information regarding all dividends and distributions paid to them by the Trust during calendar year 2002. Regulations of the U.S. Treasury Department require the Trust to report this information to the Internal Revenue Service. None of the dividends paid by the Trust during the year ended June 30, 2002 are eligible for the corporate dividend-received deduction. The foregoing information is presented to assist shareholders in reporting distributions received from the Trust to the Internal Revenue Service. Because of the complexity of the federal regulations which may affect your individual tax return and the many variations in state and local tax regulations, we recommend that you consult your tax advisor for specific guidance. 23 CENTENNIAL MONEY MARKET TRUST TRUSTEES AND OFFICERS James C. Swain, Trustee, CEO and Chairman of the Board John V. Murphy, President William L. Armstrong, Trustee Robert G. Avis, Trustee George C. Bowen, Trustee Edward L. Cameron, Trustee Jon S. Fossel, Trustee Sam Freedman, Trustee Richard F. Grabish, Trustee Beverly L. Hamilton, Trustee Robert J. Malone, Trustee F. William Marshall, Jr., Trustee Barry D. Weiss, Vice President Carol E. Wolf, Vice President Robert G. Zack, Vice President and Secretary Brian W. Wixted, Treasurer Katherine P. Feld, Assistant Secretary Kathleen T. Ives, Assistant Secretary Denis R. Molleur, Assistant Secretary
NAME, ADDRESS,(1) AGE, POSITION(S) HELD WITH TRUST AND LENGTH OF PRINCIPAL OCCUPATION(S) DURING PAST 5 YEARS AND OTHER TRUSTEESHIPS/DIRECTORSHIPS TIME SERVED(2) HELD BY TRUSTEE ==================================================================================================================== TRUSTEES JAMES C. SWAIN, Formerly (until January 2, 2002) President and a director of Centennial Asset Chairman, Chief Executive Management Corporation, the Trust's Manager; Vice Chairman of OppenheimerFunds, Officer and Trustee Inc., of which the Manager is a wholly-owned subsidiary. (since 1989) Age: 68 WILLIAM L. ARMSTRONG, Chairman of the following private mortgage banking companies: Cherry Creek Trustee (since 1999) Mortgage Company (since 1991), Centennial State Mortgage Company (since 1994), Age: 65 The El Paso Mortgage Company (since 1993), Transland Financial Services, Inc. (since 1997); Chairman of the following private companies: Great Frontier Insurance (insurance agency) (since 1995) and Ambassador Media Corporation (since 1984); a director of the following public companies: Storage Technology Corporation (computer equipment company) (since 1991), Helmerich & Payne, Inc. (oil and gas drilling/production company) (since 1992), UNUMProvident (insurance company) (since 1991). Formerly a director of International Family Entertainment (television channel) (1992 - 1997) and Natec Resources, Inc. (air pollution control equipment and services company) (1991 - 1995), Frontier Real Estate, Inc. (residential real estate brokerage) (1994 - 1999), and Frontier Title (title insurance agency) (1995 - June 1999); and U.S. Senator (January 1979 - January 1991). ROBERT G. AVIS, Trustee Formerly (until February 2001) director and President of A.G. Edwards Capital, Inc. (since 1993) (General Partner of private equity funds); formerly (until March 2000) Chairman, Age: 71 President and Chief Executive Officer of A.G. Edwards Capital, Inc.; formerly (until March 1999) Vice Chairman and director of A.G. Edwards, Inc. and Vice Chairman of A.G. Edwards & Sons, Inc. (its brokerage company subsidiary); (until March 1999) Chairman of A.G. Edwards Trust Company and A.G.E. Asset Management (investment advisor); (until March 2000) a director of A.G. Edwards & Sons and A.G. Edwards Trust Company.
1. The address of each Trustee and Officer is 6803 S. Tucson Way, Englewood, Colorado 80112-3924, except the address for the following officers is 498 Seventh Avenue, New York, New York 10018: Messrs. Murphy, Zack and Molleur, and Ms. Feld. 2. Each Trustee and Officer serves for an indefinite term, until his or her resignation, death or removal. 24 CENTENNIAL MONEY MARKET TRUST TRUSTEES AND OFFICERS (Continued)
NAME, ADDRESS,(1) AGE, POSITION(S) HELD WITH TRUST AND LENGTH OF PRINCIPAL OCCUPATION(S) DURING PAST 5 YEARS AND OTHER TRUSTEESHIPS/DIRECTORSHIPS TIME SERVED(2) HELD BY TRUSTEE ==================================================================================================================== GEORGE C. BOWEN, Formerly (until April 1999) Mr. Bowen held the following positions: Senior Vice Trustee (since 1998) President (since February 1992), Treasurer (since July 1991), Assistant Age: 65 Secretary and a director (since December 1991) of the Manager; Senior Vice President (from September 1987) and Treasurer (from March 1985) of OppenheimerFunds, Inc.; Vice President (from June 1983) and Treasurer (since March 1985) of OppenheimerFunds Distributor, Inc.; Vice President (since October 1989) and Treasurer (since April 1986) of HarbourView Asset Management Corporation; President, Treasurer and a director of Centennial Capital Corporation (June 1989 - January 1990), a prior investment advisory subsidiary of OppenheimerFunds, Inc.; Vice President and Treasurer (since August 1978) and Secretary (since April 1981) of Shareholder Services, Inc., and Vice President, Treasurer and Secretary of Shareholder Financial Services, Inc. (since November 1989); Assistant Treasurer of Oppenheimer Acquisition Corp. (since March 1998); Treasurer of Oppenheimer Partnership Holdings, Inc. (since November 1989); Vice President and Treasurer of Oppenheimer Real Asset Management, Inc. (since July 1996); Chief Executive Officer and director of MultiSource Services, Inc., a broker-dealer subsidiary of OppenheimerFunds, Inc. (since March 1996); Treasurer of OppenheimerFunds International Ltd. and Oppenheimer Millennium Funds plc (since October 1997), offshore fund management subsidiaries of OppenheimerFunds, Inc. EDWARD L. CAMERON, Director of Genetic ID, Inc. and its subsidiaries, a privately held biotech Trustee (since 1999) company (since March 2001); a member of The Life Guard of Mount Vernon, George Age: 63 Washington's home (since June 2000). Formerly a partner with PricewaterhouseCoopers LLP (an accounting firm) (from 1974 - 1999) and Chairman, Price Waterhouse LLP Global Investment Management Industry Services Group. JON S. FOSSEL, Chairman and Director of Rocky Mountain Elk Foundation, a not-for-profit Trustee (since 1989) foundation (since 1998); and a director of P.R. Pharmaceuticals, a privately Age: 60 held company (since October 1999) and UNUMProvident (insurance company) (since June 1, 2002). Formerly Mr. Fossel held the following positions: Chairman and a director (until October 1996) and President and Chief Executive Officer (until October 1995) of OppenheimerFunds, Inc.; President, Chief Executive Officer and a director of Oppenheimer Acquisition Corp., Shareholder Services, Inc. and Shareholder Financial Services, Inc. (until October 1995). SAM FREEDMAN, Formerly (until October 1994) Mr. Freedman held the following positions: Trustee (since 1996) Chairman and Chief Executive Officer of OppenheimerFunds Services (from August Age: 61 1980); Chairman, Chief Executive Officer and a director of Shareholder Services, Inc. (from August 1980); Chairman, Chief Executive Officer and director of Shareholder Financial Services, Inc. (from November 1989); Vice President and director of Oppenheimer Acquisition Corp. (from October 1990) and a director of OppenheimerFunds, Inc. (from October 1990). RICHARD F. GRABISH, Senior Vice President, Assistant Director of Sales and Marketing since March Trustee (since 2001) 1997, and Manager of Private Client Services since June 1985 for A.G. Edwards & Age: 53 Sons, Inc. (broker/dealer and investment firm). Chairman and Chief Executive Officer of A.G. Edwards Trust Company since March 2001). Director of A.G. Edwards & Sons, Inc. (since March 1988); formerly (until March 1987) President and Vice Chairman of A.G. Edwards Trust Company.
25 CENTENNIAL MONEY MARKET TRUST TRUSTEES AND OFFICERS (Continued)
NAME, ADDRESS,(1) AGE, POSITION(S) HELD WITH TRUST AND LENGTH OF PRINCIPAL OCCUPATION(S) DURING PAST 5 YEARS AND OTHER TRUSTEESHIPS/DIRECTORSHIPS TIME SERVED(2) HELD BY TRUSTEE ==================================================================================================================== BEVERLY L. HAMILTON, Trustee (since 1996) of MassMutual Institutional Funds and of MML Series Trustee (since 2002) Investment Fund (open-end investment companies); Director of MML Services, an Age: 55 investment company (since April 1987), America Funds Emerging Markets Growth Fund, an investment company (since October 1991), The California Endowment, a philanthropy organization (since April 2002), and Community Hospital of Monterey Peninsula, (since February 2002), a Trustee of Monterey International Studies, an educational organization (since February 2000), and an advisor to Unilever (Holland)'s pension fund and to Credit Suisse First Boston's Sprout venture capital unit. Mrs. Hamilton also is a member of the investment committees of the Rockefeller Foundation, the University of Michigan and Hartford Hospital. Formerly, Mrs. Hamilton held the following position: President ARCO Investment Management Company (from February 1991 until April 2000). ROBERT J. MALONE, Director of Jones Knowledge, Inc., a privately held company (since 2001), Trustee (since 2002) director of U.S. Exploration, Inc. (since 1997), director of Colorado UpLIFT, a Age: 57 non-profit organization (since 1986) and a Trustee of the Gallagher Family Foundation (since 2000). Formerly, Mr. Malone held the following positions: Chairman of U.S. Bank (formerly Colorado National Bank) a subsidiary of U.S. Bancorp (from July 1, 1996 until April 1, 1999); Chairman of the Board and Chief Executive Officer of Colorado National Bank (from December 18, 1992 until July 1, 1996); director of Commercial Assets, Inc. (from 1993 to 2000). F. WILLIAM MARSHALL, JR., Trustee (since 1996) of MassMutual Institutional Funds and of MML Series Trustee (since 2000) Investment Fund (open-end investment companies). Formerly (until 1999) Chairman Age: 60 of SIS & Family Bank, F.S.B. (formerly SIS Bank); President, Chief Executive Officer and Director of SIS Bankcorp., Inc. and SIS Bank (formerly Springfield Institution for Savings) (1993 - 1999); Executive Vice President (until 1999) of Peoples Heritage Financial Group, Inc.; Chairman and Chief Executive Office of Bank of Ireland First Holdings, Inc. and First New Hampshire Banks (1990 - 1993). OFFICERS JOHN V. MURPHY,(3) Director (since November 2001) of the Manager; Chairman, Chief Executive Officer President and director (since June 2001) and President (since September 2000) of (since 2001) OppenheimerFunds, Inc.; President and a director (since July 2001) of Age: 53 Oppenheimer Acquisition Corp., OppenheimerFunds, Inc.'s parent holding company and of Oppenheimer Partnership Holdings, Inc., a holding company subsidiary of OppenheimerFunds, Inc.; a director (since November 2001) of OppenheimerFunds Distributor, Inc., a subsidiary of OppenheimerFunds, Inc. and the Trust's Sub-Distributor; Chairman and a director (since July 2001) of Shareholder Services, Inc., the Trust's Transfer Agent, and of Shareholder Financial Services, Inc., both are transfer agent subsidiaries of OppenheimerFunds, Inc.; President and a director (since July 2001) of OppenheimerFunds Legacy Program, a charitable trust program established by OppenheimerFunds, Inc.; a director of the following investment advisory subsidiaries of OppenheimerFunds, Inc.: OFI Institutional Asset Management Inc. (since November 2001), HarbourView Asset Management Corporation and OFI Private Investments, Inc. (since July 2002);
3. John V. Murphy is an "interested person" of the Trust (as defined in the Investment Company Act of 1940), by virtue of his positions as an officer and director of the Trust's Manager, and as a shareholder of its parent company. 26 CENTENNIAL MONEY MARKET TRUST TRUSTEES AND OFFICERS (Continued)
NAME, ADDRESS,(1) AGE, POSITION(S) HELD WITH TRUST AND LENGTH OF PRINCIPAL OCCUPATION(S) DURING PAST 5 YEARS AND OTHER TRUSTEESHIPS/DIRECTORSHIPS TIME SERVED(2) HELD BY TRUSTEE ==================================================================================================================== JOHN V. MURPHY, President (since November 1, 2001) and a director (since July 2001) of Continued Oppenheimer Real Asset Management, Inc., an investment advisory subsidiary of OppenheimerFunds, Inc.; a director (since November 2001) of Trinity Investment Management Corporation and Tremont Advisers, Inc., investment advisory affiliates of OppenheimerFunds, Inc.; Executive Vice President (since February 1997) of Massachusetts Mutual Life Insurance Company, OppenheimerFunds, Inc.'s parent company; a director (since June 1995) of DBL Acquisition Corporation. Formerly Chief Operating Officer (from September 2000 to June 2001) of OppenheimerFunds, Inc.; President and trustee (from November 1999 to November 2001) of MML Series Investment Fund and MassMutual Institutional Funds, open-end investment companies; a director (from September 1999 to August 2000) of C.M. Life Insurance Company; President, Chief Executive Officer and director (from September 1999 to August 2000) of MML Bay State Life Insurance Company; a director (from June 1989 to June 1998) of Emerald Isle Bancorp and Hibernia Savings Bank, wholly-owned subsidiary of Emerald Isle Bancorp. President and a trustee of 67 other Oppenheimer funds. BARRY D. WEISS, Vice Vice President of OppenheimerFunds, Inc. (since July 2001); an officer and President (since 2001) portfolio manager of other Oppenheimer funds; formerly Assistant Vice President Age: 38 and Senior Credit Analyst of the Distributor (February 2000 - June 2001). Prior to joining the OppenheimerFunds, Inc. in February 2000, he was Associate Director, Structured Finance, Fitch IBCA Inc. (April 1998 - February 2000); News Director, Fitch Investors Service (September 1996 - April 1998); and Senior Budget Analyst, City of New York, Office of Management & Budget (February 1990 - September 1996). CAROL E. WOLF, Vice Senior Vice President (since June 2000) of OppenheimerFunds, Inc.; an officer President (since 1988) and portfolio manager of other Oppenheimer funds; formerly Vice President of Age: 50 OppenheimerFunds, Inc. (June 1990 - June 2000). ROBERT G. ZACK, Vice Senior Vice President (since May 1985) and General Counsel (since February 2002) President and Secretary of the Manager; General Counsel and a director (since November 2001) of (since 2001) OppenheimerFunds Distributor, Inc.; Senior Vice President and General Counsel Age: 53 (since November 2001) of HarbourView Asset Management Corporation; Vice President and a director (since November 2000) of Oppenheimer Partnership Holdings, Inc.; Senior Vice President, General Counsel and a director (since November 2001) of Shareholder Services, Inc., Shareholder Financial Services, Inc., OFI Private Investments, Inc., Oppenheimer Trust Company and OFI Institutional Asset Management, Inc., General Counsel (since November 2001) of Centennial Asset Management Corporation; a director (since November 2001) of Oppenheimer Real Asset Management, Inc.; Assistant Secretary and a director (since November 2001) of OppenheimerFunds International Ltd.; Vice President (since November 2001) of OppenheimerFunds Legacy Program; Secretary (since November 2001) of Oppenheimer Acquisition Corp.; formerly Acting General Counsel (November 2001 - February 2002) and Associate General Counsel (May 1981 - October 2001) of the Manager; Assistant Secretary of Shareholder Services, Inc. (May 1985 - November 2001), Shareholder Financial Services, Inc. (November 1989 - November 2001); OppenheimerFunds International Ltd. and Oppenheimer Millennium Funds plc (October 1997 - November 2001). An officer of 89 portfolios in the OppenheimerFunds complex.
27 CENTENNIAL MONEY MARKET TRUST TRUSTEES AND OFFICERS (Continued)
NAME, ADDRESS,(1) AGE, POSITION(S) HELD WITH TRUST AND LENGTH OF PRINCIPAL OCCUPATION(S) DURING PAST 5 YEARS AND OTHER TRUSTEESHIPS/DIRECTORSHIPS TIME SERVED(2) HELD BY TRUSTEE ==================================================================================================================== BRIAN W. WIXTED, Senior Vice President and Treasurer (since March 1999) of OppenheimerFunds, Treasurer (since 1999) Inc.; Treasurer (since March 1999) of HarbourView Asset Management Corporation, Age: 42 Shareholder Services, Inc., Oppenheimer Real Asset Management Corporation, Shareholder Financial Services, Inc., Oppenheimer Partnership Holdings, Inc., OFI Private Investments, Inc. (since March 2000), OppenheimerFunds International Ltd. and Oppenheimer Millennium Funds plc (since May 2000); and OFI Institutional Asset Management, Inc. (since November 2000); Treasurer and Chief Financial Officer (since May 2000) of Oppenheimer Trust Company, a trust company subsidiary of OppenheimerFunds, Inc.; Assistant Treasurer (since March 1999) of Oppenheimer Acquisition Corp. and OppenheimerFunds Legacy Program (since April 2000); an officer of other Oppenheimer funds; formerly Principal and Chief Operating Officer, Bankers Trust Company - Mutual Fund Services Division (March 1995 - March 1999). An officer of 89 portfolios in the OppenheimerFunds complex. KATHERINE P. FELD, Vice President and Secretary (since June 1999) of the Manager; Vice President Assistant Secretary and Senior Counsel (since July 1999) of OppenheimerFunds, Inc.; Vice President (since 2001) (since June 1990) of OppenheimerFunds Distributor, Inc.; Director, Vice Age: 44 President (since 1997) of Oppenheimer Real Asset Management, Inc.; formerly Vice President and Associate Counsel of the OppenheimerFunds, Inc. (June 1990 - July 1999). An officer of 85 portfolios in the OppenheimerFunds complex. KATHLEEN T. IVES, Vice President and Assistant Counsel (since June 1998) of OppenheimerFunds, Assistant Secretary Inc.; Vice President (since 1999) of OppenheimerFunds Distributor, Inc.; Vice (since 2001) President and Assistant Secretary (since 1999) of Shareholder Services, Inc.; Age: 36 Assistant Secretary (since December 2001) of OppenheimerFunds Legacy Program and Shareholder Financial Services, Inc.; formerly Assistant Vice President and Assistant Counsel of OppenheimerFunds, Inc. (August 1997 - June 1998); Assistant Counsel of OppenheimerFunds, Inc. (August 1994 - August 1997). An officer of 85 portfolios in the OppenheimerFunds complex. DENIS R. MOLLEUR, Vice President and Senior Counsel of OppenheimerFunds, Inc. (since July 1999); Assistant Secretary an officer of other Oppenheimer funds; formerly a Vice President and Associate (since 2001) Counsel of OppenheimerFunds, Inc. (September 1991 - July 1999). An officer of 8 Age: 44 portfolios in the OppenheimerFunds complex.
THE TRUST'S STATEMENT OF ADDITIONAL INFORMATION CONTAINS ADDITIONAL INFORMATION ABOUT THE TRUST'S TRUSTEES AND IS AVAILABLE WITHOUT CHARGE UPON REQUEST. Each Trustee is a Trustee, Director or Managing General Partner of 41 other portfolios in the OppenheimerFunds complex, except as follows: Mr. Grabish (6 portfolios), and Ms. Hamilton and Mr. Malone (40 portfolios). 28 This page intentionally left blank. This page intentionally left blank. This page intentionally left blank. CENTENNIAL MONEY MARKET TRUST INVESTMENT ADVISOR AND DISTRIBUTOR Centennial Asset Management Corporation TRANSFER AND SHAREHOLDER SERVICING AGENT Shareholder Services, Inc. INDEPENDENT AUDITORS Deloitte & Touche LLP LEGAL COUNSEL Myer, Swanson, Adams & Wolf, P.C. For more complete information about Centennial Money Market Trust, please refer to the Prospectus. To obtain a copy, call your financial advisor, or contact Centennial Asset Management Corp. at 1.800.525.9310. Please read the prospectus carefully before you invest any money. RA0150.001.0602 [RECYCLE LOGO OMITTED] Printed on recycled paper 2002 Annual Report Centennial Money Market Trust June 30, 2002 -----END PRIVACY-ENHANCED MESSAGE-----