-----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, SE91jklQWQdhJhQOxizxH62eyibuK1Vwj6K1nvcICH2IincbiWd3E79gqnECX+yl PK4ChzvQPkcTkxoEI+GBUA== 0000950109-02-001215.txt : 20020415 0000950109-02-001215.hdr.sgml : 20020415 ACCESSION NUMBER: 0000950109-02-001215 CONFORMED SUBMISSION TYPE: N-30D PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20011231 FILED AS OF DATE: 20020308 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: 02569854 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 dn30d.txt CENTENNIAL MONEY MARKET TRUST Dear Shareholder: During the six-month period ended December 31, 2001, Centennial Money Market Trust produced an annualized yield of 2.60% and an annualized yield including the effects of compounding of 2.63%. The Trust's seven-day and compounded seven-day yields on December 31, 2001, were 1.56% and 1.57%, respectively./1/ The U.S. officially entered a recession in March 2001, ending an unprecedented run of ten years of economic growth. With the events of September 11, massive job losses and disappointing company earnings, the economy has experienced large-scale deterioration during the first half of our reporting period. The Federal Reserve Board (the Fed) has moved aggressively to bolster the nation's troubled economy by making 11 successive rate cuts in 2001, bringing the benchmark interest rate down from 6.5% to 1.75%, its lowest level in almost 40 years. The continued reduction of interest rates has had a profound effect on the yields the Trust is able to generate. Faced with an extremely challenging investment environment, Centennial Money Market Trust continues to perform in-depth reviews of the companies in which we invest in order to help insure that they are of the highest credit quality. As a result, we have generally avoided taking positions in such industries as airlines, travel, hotels and energy traders. With current yields at a 40-year low, the Trust has been investing in longer maturity instruments to capture their higher yields. As a result, as of December 31, 2001, the Trust was near a weighted average maturity of 60 days. We have sought investments in commercial paper, asset-backed commercial paper, agency discount notes, certificates of deposit, medium-term notes, and floating-rate 1. Compounded yields assume reinvestment in dividends. The Trust's investment strategy, allocations, and focus can change over time. notes. In particular, we have been buying large quantities of U.S. government agencies because they have been issuing in the longer term and their yield has been within a point or two of corporate issues. Because we have not been successful in finding many longer maturity floating-rate products that reset at 90 or 180 days, compared with shorter-term floating-rate paper, we significantly reduced our floating-rate holdings. The current investment outlook for the Trust is based on the expectation of lower yields resulting from the Fed cuts. Given that money market funds generally invest in short-term securities than other fixed-income funds, most money market funds will feel the impact of further rate cuts very quickly. In a climate of such severely depressed interest rates, we will continue to seek to invest in high-quality names and to strive to maximize shareholder returns. And we will seek out investment strategies, which are designed to help insure the liquidity and safety that we seek to provide you. Sincerely, /s/ James C. Swain James C. Swain Chairman Centennial Money Market Trust January 23, 2002 /s/ John V. Murphy John V. Murphy President Centennial Money Market Trust January 23, 2002 2 Statement of Investments December 31, 2001 (Unaudited) Centennial Money Market Trust
Principal Value Amount See Note 1 ------------ ------------ Bankers' Acceptances--1.3% Household Bank FSB: 2.26%, 1/28/02..................................... $ 90,000,000 $ 90,000,000 LaSalle Bank NA: 2.15%, 1/29/02..................................... 40,000,000 40,000,000 Toronto Dominion Bank: 2.04%, 2/19/02..................................... 20,000,000 19,944,467 U.S. Bank NA, MN: 2.25%, 1/24/02..................................... 94,000,000 94,000,000 Wells Fargo Bank NA: 2.10%, 1/30/02..................................... 50,000,000 50,000,000 ------------ Total Bankers' Acceptances (Cost $293,944,467)...... 293,944,467 ------------ Certificates of Deposit--12.9% Domestic Certificates of Deposit--1.5% Chase Manhattan Bank USA NA: 1.85%, 3/4/02...................................... 94,000,000 94,000,000 2.10%, 2/4/02...................................... 49,000,000 49,000,000 Citibank NA: 2.11%, 2/1/02...................................... 70,000,000 70,000,000 2.17%, 1/30/02..................................... 39,000,000 39,004,343 National Bank of Commerce, Tennessee: 1.94%, 2/15/02..................................... 80,000,000 80,000,000 ------------ 332,004,343 ------------ Yankee Certificates of Deposit--11.4% Abbey National Treasury Services (gtd. by Abbey National plc): 2.34%, 1/14/02..................................... 100,000,000 100,000,000 2.41%, 4/2/02...................................... 10,000,000 10,004,441 2.48%, 1/3/02...................................... 76,000,000 76,000,378 ABN AMRO Bank NV: 3.445%, 2/13/02.................................... 75,000,000 75,000,440 Bank of Scotland: 2.10%, 2/4/02-2/5/02............................... 150,000,000 150,000,000 2.50%, 1/31/02..................................... 50,000,000 50,000,000 Bank of Scotland Treasury: 3.49%, 2/6/02...................................... 19,000,000 18,933,690
3 Statement of Investments December 31, 2001 (Unaudited) (Continued) Centennial Money Market Trust
Principal Value Amount See Note 1 ------------ ------------ Yankee Certificates of Deposit (Continued) BNP Paribas, Chicago: 2.33%, 1/18/02....................................... $ 82,000,000 $ 82,000,000 2.40%, 1/10/02....................................... 63,000,000 63,000,000 Danske Bank, New York: 2.26%, 1/25/02....................................... 100,000,000 100,005,635 2.34%, 1/17/02....................................... 50,000,000 50,000,000 Deutsche Bank: 2.15%, 2/4/02-2/6/02................................. 150,000,000 150,000,000 Dresdner Bank AG: 1.89%, 6/5/02........................................ 50,000,000 50,002,133 2.25%, 1/23/02....................................... 150,000,000 150,000,000 Lloyds TSB Bank plc, New York: 1.89%, 6/10/02....................................... 25,000,000 25,000,000 1.90%, 2/13/02-2/14/02............................... 77,500,000 77,500,000 2.22%, 2/11/02....................................... 100,000,000 100,014,629 3.60%, 1/25/02....................................... 55,000,000 55,000,991 Merita Bank plc, New York: 2.11%, 2/4/02........................................ 50,000,000 50,000,470 2.26%, 1/24/02....................................... 20,000,000 20,000,000 National Westminster Bank plc, New York: 2.51%, 1/4/02........................................ 70,000,000 70,000,058 3.415%, 2/22/02...................................... 19,680,000 19,680,000 Rabobank Nederland NV: 3.38%, 2/25/02....................................... 70,000,000 69,638,528 3.50%, 1/28/02....................................... 65,469,000 65,297,260 Rabobank Nederland NV, New York: 2.03%, 5/28/02....................................... 38,000,000 37,989,253 2.13%, 5/29/02....................................... 45,000,000 45,000,000 3.40%, 2/22/02....................................... 100,000,000 100,000,000 3.73%, 1/11/02....................................... 50,000,000 50,002,056 Royal Bank of Canada, New York Branch: 2.34%, 1/15/02-1/17/02............................... 239,000,000 239,000,000 Royal Bank of Scotland, New York: 1.89%, 6/4/02........................................ 62,000,000 62,000,000 2%, 5/17/02.......................................... 100,000,000 100,000,000 3.41%, 2/22/02....................................... 14,644,000 14,644,000
4 Statement of Investments December 31, 2001 (Unaudited) (Continued) Centennial Money Market Trust
Principal Value See Note Amount 1 ------------ -------------- Yankee Certificates of Deposit (Continued) Societe Generale: 2.11%, 2/6/02.................................... $100,000,000 $ 100,000,994 Toronto Dominion Bank, New York: 3.61%, 1/31/02................................... 85,000,000 85,000,570 UBS AG Stamford CT: 1.905%, 3/15/02.................................. 50,000,000 50,000,504 2.09%, 5/24/02................................... 50,000,000 50,000,983 -------------- 2,610,717,013 -------------- Total Certificates of Deposit (Cost $2,942,721,356).................................. 2,942,721,356 -------------- Direct Bank Obligations--6.5% Bank of Scotland Treasury: 1.74%, 3/14/02................................... 100,000,000 99,652,000 1.80%, 3/13/02................................... 40,000,000 39,858,000 Barclays Bank plc, New York: 1.75%, 3/12/02................................... 55,000,000 54,996,332 Lloyds TSB Bank plc: 1.98%, 5/13/02................................... 100,000,000 99,274,000 2.16%, 1/25/02................................... 50,000,000 49,928,000 Nationwide Building Society: 1.88%, 3/7/02.................................... 57,000,000 56,810,128 1.89%, 2/14/02................................... 96,000,000 95,778,240 2.04%, 2/7/02.................................... 67,000,000 66,859,524 2.23%, 2/11/02................................... 89,650,000 89,422,314 3.48%, 2/6/02.................................... 50,000,000 49,826,000 Nordea North America, Inc. (gtd. by Merita Bank plc): 2.01%, 2/26/02................................... 15,000,000 14,953,100 2.15%, 1/23/02................................... 100,000,000 99,868,611 2.20%, 4/15/02................................... 48,000,000 47,694,933 2.28%, 4/17/02................................... 138,000,000 137,094,230 3.51%, 2/7/02.................................... 50,000,000 49,819,625 Royal Bank of Canada, New York Branch: 2.15%, 1/31/02................................... 150,000,000 150,000,000 UBS Finance (Delaware) LLC: 1.86%, 6/5/02.................................... 140,000,000 138,878,833
5 Statement of Investments December 31, 2001 (Unaudited) (Continued) Centennial Money Market Trust
Principal Value Amount See Note 1 ------------ -------------- Direct Bank Obligations (Continued) Wells Fargo Bank NA: 2.48%, 1/9/02-1/10/02............................ $150,000,000 $ 150,000,000 -------------- Total Direct Bank Obligations (Cost $1,490,713,870).................................. 1,490,713,870 -------------- Letters of Credit--6.5% Abbey National plc, guaranteeing commercial paper of Abbey National North America: 3.41%, 2/8/02.................................... 78,500,000 78,217,444 Bank of America, guaranteeing commercial paper of Formosa Plastics Corp. U.S.A.: 1.76%, 3/12/02................................... 16,300,000 16,244,218 1.82%, 3/20/02................................... 15,000,000 14,940,850 1.90%, 3/6/02.................................... 30,000,000 29,898,667 Barclays Bank plc, guaranteeing commercial paper of Barclays US Funding Corp.: 1.83%, 2/28/02................................... 135,000,000 134,601,975 2.155%, 1/28/02.................................. 100,000,000 99,838,375 Barclays Bank plc, guaranteeing commercial paper of Petrobras International Finance Co.: 1.97%, 1/7/02.................................... 27,000,000 26,991,135 2%, 1/3/02-1/17/02............................... 93,000,000 92,953,833 Barclays Bank plc, guaranteeing commercial paper of Primer Banco del Istmo SA: 3.37%, 2/26/02................................... 20,000,000 19,895,156 Canadian Imperial Bank of Commerce, guaranteeing Canadian Imperial Holdings, Inc.: 1.82%, 3/25/02-3/27/02........................... 200,000,000 199,145,611 Chase Manhattan Bank, guaranteeing commercial paper of NATC California LLC: 2.17%, 1/28/02................................... 60,000,000 59,902,350 Danske Bank AS, guaranteeing commercial paper of Danske Corp., Series A: 2.02%, 5/16/02................................... 18,000,000 17,863,650 2.33%, 1/9/02.................................... 15,176,000 15,168,142 2.39%, 1/4/02-1/7/02............................. 100,000,000 99,970,125 Danske Bank AS, guaranteeing commercial paper of Danske Corp., Series B: 2.325%, 1/15/02.................................. 50,000,000 49,954,792 Danske Bank AS, guaranteeing commercial paper of Danske Corp., Series C: 2.16%, 1/29/02................................... 100,000,000 99,832,000
6 Statement of Investments December 31, 2001 (Unaudited) (Continued) Centennial Money Market Trust
Principal Value Amount See Note 1 ------------ -------------- Letters of Credit (Continued) Societe Generale, guaranteeing commercial paper of Societe Generale North America: 1.75%, 3/14/02................................... $ 16,000,000 $ 15,944,000 1.88%, 2/7/02.................................... 35,000,000 34,932,372 2.26%, 1/14/02................................... 5,000,000 4,995,919 2.30%, 2/11/02................................... 174,800,000 174,342,121 Toronto Dominion Bank, guaranteeing commercial paper of Toronto Dominion Holdings, Inc.: 1.755%, 3/11/02.................................. 45,000,000 44,848,631 1.795%, 3/20/02.................................. 85,000,000 84,669,421 1.80%, 3/18/02................................... 75,000,000 74,715,000 -------------- Total Letters of Credit (Cost $1,489,865,787)..... 1,489,865,787 -------------- Short-Term Notes--61.9% Aerospace/Defense--1.8% BAE Systems Holdings, Inc.: 2.12%, 1/29/02(/1/).............................. 20,000,000 19,967,022 2.15%, 1/28/02(/1/).............................. 35,000,000 34,943,562 2.18%, 2/1/02(/1/)............................... 35,000,000 34,934,297 2.25%, 1/22/02(/1/).............................. 50,000,000 49,934,375 2.39%, 1/9/02-1/14/02(/1/)....................... 91,000,000 90,938,059 General Dynamics Corp.: 1.78%, 3/15/02(/1/).............................. 29,000,000 28,895,326 1.90%, 3/11/02(/1/).............................. 40,000,000 39,854,333 2%, 3/5/02-3/8/02(/1/)........................... 74,000,000 73,734,667 2.04%, 1/14/02(/1/).............................. 15,500,000 15,488,582 2.08%, 3/7/02(/1/)............................... 21,000,000 20,921,133 -------------- 409,611,356 -------------- Asset-Backed--25.3% AriesOne Metafolio Corp.: 2.03%, 1/7/02(/1/)............................... 85,000,000 84,971,125 2.05%, 1/8/02(/1/)............................... 100,000,000 99,960,139 Asset Portfolio Funding: 1.76%, 3/11/02(/1/).............................. 20,090,000 20,022,230 1.85%, 6/6/02(/1/)............................... 49,181,000 48,786,732 2.29%, 1/23/02(/1/).............................. 53,064,000 52,989,740 2.42%, 1/7/02(/1/)............................... 92,000,000 91,962,893
7 Statement of Investments December 31, 2001 (Unaudited) (Continued) Centennial Money Market Trust
Principal Value Amount See Note 1 ------------ ------------ Asset-Backed (Continued) BILLS Securitisation Ltd.: 1.87%, 6/7/02....................................... $ 98,000,000 $ 97,200,783 2.07%, 2/27/02...................................... 90,000,000 89,705,025 2.16%, 4/22/02...................................... 74,000,000 73,507,160 Breeds Hill Capital Co. LLC, Series A: 1.86%, 3/13/02-3/15/02(/1/)......................... 93,405,000 93,057,484 2.40%, 1/9/02(/1/).................................. 50,000,000 49,973,333 Charta Corp.: 1.94%, 2/28/02(/1/)................................. 50,000,000 49,843,722 2.03%, 2/21/02(/1/)................................. 77,500,000 77,277,123 2.08%, 2/20/02(/1/)................................. 30,000,000 29,913,333 2.23%, 1/24/02(/1/)................................. 48,000,000 47,931,613 2.35%, 1/14/02(/1/)................................. 25,000,000 24,978,785 2.38%, 1/8/02(/1/).................................. 42,000,000 41,980,563 2.40%, 1/7/02(/1/).................................. 40,000,000 39,984,000 Corporate Receivables Corp.: 1.93%, 2/13/02-2/14/02(/1/)......................... 150,000,000 149,648,847 2.04%, 2/20/02(/1/)................................. 65,000,000 64,815,833 2.27%, 1/22/02(/1/)................................. 25,000,000 24,966,896 2.39%, 1/14/02(/1/)................................. 75,000,000 74,935,271 Crown Point Capital Co.: 1.80%, 3/8/02(/1/).................................. 205,000,000 204,325,700 1.85%, 3/12/02(/1/)................................. 25,000,000 24,910,069 2.15%, 2/5/02(/1/).................................. 11,527,000 11,502,905 2.28%, 4/18/02(/1/)................................. 64,499,000 64,062,343 2.30%, 1/18/02(/1/)................................. 16,500,000 16,482,079 3.62%, 1/16/02(/1/)................................. 50,000,000 49,945,417 CXC, Inc.: 2.03%, 2/21/02(/1/)................................. 27,000,000 26,922,352 2.18%, 2/7/02(/1/).................................. 28,000,000 27,937,264 Delaware Funding Corp.: 1.75%, 3/28/02(/1/)................................. 73,282,000 72,969,782 Edison Asset Securitization LLC: 1.76%, 3/14/02(/1/)................................. 100,000,000 99,648,000 1.82%, 3/11/02-3/13/02(/1/)......................... 145,042,000 144,531,844
8 Statement of Investments December 31, 2001 (Unaudited) (Continued) Centennial Money Market Trust
Principal Value Amount See Note 1 ------------ ------------ Asset-Backed (Continued) Galaxy Funding, Inc.: 1.78%, 3/20/02(/1/)................................. $ 50,000,000 $ 49,807,167 1.86%, 4/3/02(/1/).................................. 30,000,000 29,857,400 2.05%, 5/16/02(/1/)................................. 182,500,000 181,097,031 2.07%, 2/22/02(/1/)................................. 40,000,000 39,880,400 2.21%, 2/8/02(/1/).................................. 40,000,000 39,906,689 2.35%, 1/18/02(/1/)................................. 14,000,000 13,984,464 3.42%, 1/24/02-1/25/02(/1/)......................... 90,000,000 89,797,175 GOVCO, Inc.: 2.02%, 2/21/02-2/25/02(/1/)......................... 49,250,000 49,103,542 2.04%, 2/19/02(/1/)................................. 217,000,000 216,398,824 2.33%, 1/18/02(/1/)................................. 50,000,000 49,944,986 2.35%, 1/7/02(/1/).................................. 23,000,000 22,990,992 Greyhawk Funding LLC: 1.95%, 2/15/02(/1/)................................. 95,000,000 94,768,437 2.34%, 1/10/02-1/18/02(/1/)......................... 279,000,000 278,767,365 2.48%, 1/11/02(/1/)................................. 65,000,000 64,955,222 Halogen Capital Co. LLC, Series A: 1.94%, 2/8/02(/1/).................................. 25,000,000 24,948,806 2.53%, 1/14/02-1/16/02(/1/)......................... 77,319,000 77,243,020 Lexington Parker Capital Co. LLC: 1.94%, 6/3/02(/1/).................................. 88,000,000 87,274,440 2.10%, 2/15/02(/1/)................................. 35,000,000 34,908,125 2.35%, 1/22/02(/1/)................................. 128,000,000 127,824,137 3.32%, 3/1/02(/1/).................................. 50,000,000 49,727,944 3.49%, 1/25/02(/1/)................................. 125,331,000 125,039,397 New Center Asset Trust: 2.05%, 2/25/02...................................... 45,000,000 44,859,063 2.38%, 1/31/02...................................... 15,000,000 14,970,250 2.48%, 1/7/02....................................... 35,000,000 34,985,533 Park Avenue Receivables: 2.05%, 2/7/02-2/8/02(/1/)........................... 90,000,000 89,807,528 Perry Global Funding LLC, Series A: 1.83%, 3/21/02(/1/)................................. 79,386,000 79,065,479 1.93%, 3/8/02(/1/).................................. 100,000,000 99,646,167 2%, 3/7/02(/1/)..................................... 49,000,000 48,823,056 2.12%, 2/27/02(/1/)................................. 120,000,000 119,597,200
9 Statement of Investments December 31, 2001 (Unaudited) (Continued) Centennial Money Market Trust
Principal Value Amount See Note 1 ------------ -------------- Asset-Backed (Continued) Scaldis Capital LLC: 1.85%, 6/7/02(/1/)................................ $ 7,640,000 $ 7,578,360 1.88%, 3/5/02-5/31/02(/1/)........................ 49,457,000 49,162,529 2.02%, 4/19/02(/1/)............................... 58,499,000 58,144,496 2.07%, 5/14/02(/1/)............................... 30,291,000 30,059,350 2.09%, 2/5/02(/1/)................................ 50,000,000 49,898,403 2.10%, 2/25/02(/1/)............................... 35,842,000 35,727,007 2.125%, 5/17/02(/1/).............................. 54,264,000 53,827,978 2.36%, 1/14/02(/1/)............................... 20,000,000 19,982,956 2.37%, 1/15/02(/1/)............................... 90,000,000 89,917,439 2.40%, 1/8/02(/1/)................................ 55,630,000 55,604,039 Sheffield Receivables Corp.: 1.83%, 3/18/02(/1/)............................... 84,760,000 84,432,544 2.02%, 1/24/02(/1/)............................... 40,000,000 39,948,378 2.12%, 1/4/02(/1/)................................ 106,000,000 105,981,273 2.31%, 2/6/02(/1/)................................ 30,380,000 30,309,822 2.41%, 1/8/02(/1/)................................ 40,000,000 39,981,256 Variable Funding Capital Corp.: 2.60%, 1/18/02(/1/)............................... 48,577,000 48,517,358 Victory Receivables Corp.: 1.83%, 3/11/02(/1/)............................... 31,130,000 31,020,812 1.88%, 1/10/02(/1/)............................... 39,500,000 39,481,435 2.05%, 1/7/02(/1/)................................ 19,278,000 19,271,413 2.11%, 2/6/02(/1/)................................ 28,134,000 28,074,637 2.12%, 2/21/02(/1/)............................... 61,000,000 60,816,797 2.125%, 1/11/02(/1/).............................. 87,909,000 87,857,109 2.37%, 1/25/02(/1/)............................... 17,000,000 16,973,140 2.42%, 1/14/02(/1/)............................... 8,000,000 7,993,009 VVR Funding LLC: 1.84%, 3/7/02(/1/)................................ 30,000,000 29,900,333 1.88%, 2/15/02(/1/)............................... 44,580,000 44,475,237 1.94%, 3/4/02(/1/)................................ 84,675,000 84,392,091 2.32%, 1/28/02(/1/)............................... 75,577,000 75,445,496 -------------- 5,776,404,921 --------------
10 Statement of Investments December 31, 2001 (Unaudited) (Continued) Centennial Money Market Trust
Principal Value Amount See Note 1 ------------ ------------ Banks--0.7% J.P. Morgan Chase & Co.: 2.30%, 1/15/02...................................... $ 48,000,000 $ 47,957,067 Wells Fargo & Co.: 2.10%, 1/30/02...................................... 100,000,000 99,830,833 ------------ 147,787,900 ------------ Beverages--1.8% Coca Cola Enterprises, Inc.: 2.32%, 1/17/02(/1/)................................. 50,000,000 49,948,444 2.33%, 1/18/02(/1/)................................. 15,500,000 15,482,946 Diageo Capital plc: 2.06%, 4/23/02(/1/)................................. 75,000,000 74,519,333 2.155%, 1/30/02(/1/)................................ 71,000,000 70,876,831 2.30%, 2/6/02-2/11/02(/1/).......................... 149,400,000 149,033,380 2.605%, 1/24/02(/1/)................................ 50,000,000 49,916,785 ------------ 409,777,719 ------------ Broker-Dealers--3.2% Banc of America Securities LLC: 2.075%, 1/2/02(/2/)................................. 20,000,000 20,000,000 Goldman Sachs Group LP, Promissory Note: 1.99%, 6/14/02(/3/)................................. 91,000,000 91,000,000 2%, 5/23/02......................................... 59,000,000 59,000,000 2.03%, 5/10/02(/3/)................................. 63,100,000 63,100,000 3.46%, 3/4/02(/3/).................................. 100,000,000 100,000,000 3.54%, 3/6/02(/3/).................................. 100,000,000 100,000,000 Merrill Lynch & Co., Inc.: 1.90%, 1/4/02....................................... 73,250,000 73,238,402 Salomon Smith Barney Holdings, Inc.: 2%, 1/3/02.......................................... 235,000,000 234,973,375 ------------ 741,311,777 ------------ Commercial Finance--2.5% Countrywide Home Loans: 2.15%, 1/4/02....................................... 60,000,000 59,989,250 Countrywide Home Loans, Series J: 2.151%, 6/7/02(/2/)................................. 60,000,000 59,992,318
11 Statement of Investments December 31, 2001 (Unaudited) (Continued) Centennial Money Market Trust
Principal Value Amount See Note 1 ------------ ------------ Commercial Finance (Continued) Private Export Fund Corp.: 1.99%, 5/9/02(/1/).................................. $ 25,000,000 $ 24,823,111 2.09%, 5/28/02(/1/)................................. 13,000,000 12,889,056 Tyco Capital Corp.: 1.89%, 2/4/02....................................... 48,000,000 47,914,320 2%, 2/27/02......................................... 53,000,000 52,832,167 2.05%, 2/1/02-2/25/02............................... 170,000,000 169,535,903 2.11%, 1/30/02...................................... 50,000,000 49,915,014 3.39%, 2/8/02....................................... 100,000,000 99,642,167 ------------ 577,533,306 ------------ Consumer Finance--0.8% American General Finance Corp.: 1.75%, 3/13/02...................................... 115,000,000 114,603,090 2.12%, 1/31/02-2/1/02............................... 62,000,000 61,888,994 ------------ 176,492,084 ------------ Diversified Financial--2.4% General Electric Capital Services: 1.84%, 5/8/02....................................... 50,000,000 49,675,444 2%, 5/6/02.......................................... 13,500,000 13,406,250 2.01%, 5/2/02....................................... 15,000,000 14,898,663 2.32%, 2/7/02....................................... 98,000,000 97,766,324 Household Finance Corp.: 2.32%, 1/18/02...................................... 20,000,000 19,978,089 2.34%, 1/15/02...................................... 24,500,000 24,477,705 3.48%, 1/30/02...................................... 75,000,000 74,789,750 National Rural Utilities Cooperative Finance Corp.: 2.03%, 1/15/02...................................... 34,000,000 33,973,159 Prudential Funding LLC: 2.08%, 5/6/02....................................... 50,000,000 49,638,889 2.29%, 3/1/02....................................... 30,000,000 29,887,408 2.32%, 1/18/02...................................... 50,000,000 49,945,222 2.33%, 1/16/02...................................... 90,000,000 89,912,833 ------------ 548,349,736 ------------
12 Statement of Investments December 31, 2001 (Unaudited) (Continued) Centennial Money Market Trust
Principal Value Amount See Note 1 ------------ ------------ Diversified Media--0.4% McGraw-Hill Cos., Inc.: 1.74%, 4/8/02....................................... $ 45,000,000 $ 44,789,025 1.82%, 4/12/02-4/17/02.............................. 47,000,000 46,754,957 1.83%, 4/15/02...................................... 10,000,000 9,947,133 ------------ 101,491,115 ------------ Food--1.9% Nestle Capital Corp.: 1.795%, 3/21/02-3/25/02(/1/)........................ 164,000,000 163,334,055 1.97%, 1/23/02(/1/)................................. 20,000,000 19,975,922 2.08%, 5/29/02-5/30/02(/1/)......................... 247,200,000 245,077,661 ------------ 428,387,638 ------------ Gas Utilities--0.7% Centrica plc: 2.04%, 2/22/02-5/15/02(/1/)......................... 56,750,000 56,434,083 2.10%, 5/20/02(/1/)................................. 50,000,000 49,594,583 2.32%, 1/18/02(/1/)................................. 46,000,000 45,949,604 ------------ 151,978,270 ------------ Healthcare/Drugs--3.7% American Home Products: 2%, 2/13/02(/1/).................................... 183,500,000 183,040,318 2.05%, 2/12/02(/1/)................................. 97,000,000 96,762,525 2.15%, 2/14/02(/1/)................................. 47,100,000 46,976,232 2.18%, 2/22/02(/1/)................................. 50,000,000 49,842,556 2.33%, 1/24/02(/1/)................................. 50,000,000 49,925,569 Aventis SA: 1.75%, 3/7/02(/1/).................................. 16,000,000 15,949,444 1.90%, 3/4/02(/1/).................................. 15,000,000 14,950,917 1.91%, 3/1/02(/1/).................................. 40,000,000 39,874,789 Glaxo Wellcome plc: 2%, 2/22/02(/1/).................................... 45,000,000 44,870,000 2.32%, 1/16/02(/1/)................................. 119,200,000 119,084,669 2.38%, 1/11/02(/1/)................................. 168,000,000 167,888,933 Merck & Co., Inc.: 1.83%, 3/1/02....................................... 15,000,000 14,955,013 ------------ 844,120,965 ------------
13 Statement of Investments December 31, 2001 (Unaudited) (Continued) Centennial Money Market Trust
Principal Value Amount See Note 1 ------------ ------------ Insurance--7.7% Allstate Life Insurance Co.: 2.08%, 1/1/02(/2/)................................. $ 50,000,000 $ 50,000,000 American General Annuity Insurance Co.: 2.144%, 1/1/02(/2/)................................ 50,000,000 50,000,000 Cooperative Assn. of Tractor Dealers, Inc., Series A: 1.95%, 5/8/02...................................... 28,200,000 28,006,008 2.05%, 5/3/02...................................... 8,000,000 7,944,422 2.13%, 5/15/02..................................... 10,100,000 10,019,924 2.22%, 1/23/02..................................... 26,150,000 26,114,523 Cooperative Assn. of Tractor Dealers, Inc., Series B: 2.09%, 4/30/02..................................... 33,000,000 32,776,644 2.20%, 1/4/02...................................... 34,000,000 33,993,767 GE Financial Assurance Holdings, Inc.: 2.13%, 2/5/02(/1/)................................. 40,000,000 39,917,167 General Electric Capital Assurance Co.: 2.13%, 2/1/02(/2/)(/3/)............................ 75,000,000 75,000,000 ING America Insurance Holdings, Inc.: 1.75%, 3/6/02...................................... 11,782,000 11,745,345 1.80%, 3/13/02..................................... 25,000,000 24,911,250 1.81%, 3/7/02...................................... 20,000,000 19,934,639 1.82%, 3/14/02-3/20/02............................. 114,000,000 113,568,154 2.01%, 3/12/02..................................... 25,000,000 24,902,292 2.07%, 5/16/02..................................... 50,000,000 49,611,875 2.08%, 2/8/02...................................... 65,000,000 64,857,289 2.19%, 2/7/02...................................... 31,000,000 30,931,519 2.225%, 2/27/02.................................... 40,000,000 39,859,677 2.29%, 2/14/02..................................... 44,000,000 43,883,889 Jackson National Life Insurance Co.: 2.08%, 3/1/02(/2/)................................. 70,000,000 70,000,000 2.15%, 8/1/02(/2/)................................. 48,000,000 48,000,000 Marsh U.S.A., Inc.: 1.87%, 3/8/02(/1/)................................. 50,000,000 49,828,583 2.16%, 1/24/02(/1/)................................ 50,000,000 49,931,000 2.33%, 1/9/02(/1/)................................. 97,000,000 96,949,776 Metropolitan Life Insurance Co.: 2.154%, 1/2/02(/2/)................................ 100,000,000 100,000,000 2.194%, 1/2/02(/2/)................................ 123,500,000 123,500,000
14 Statement of Investments December 31, 2001 (Unaudited) (Continued) Centennial Money Market Trust
Principal Value Amount See Note 1 ------------ -------------- Insurance (Continued) Pacific Life Insurance Co.: 2.168%, 1/2/02(/2/)(/3/)......................... $ 71,000,000 $ 71,000,000 Protective Life Insurance Co.: 2.23%, 1/1/02(/2/)............................... 30,000,000 30,000,000 Prudential Insurance Co. of America: 2.59%, 1/2/02(/2/)............................... 165,000,000 165,000,000 Travelers Insurance Co.: 2.08%, 9/13/02(/2/)(/3/)......................... 23,000,000 23,000,000 2.09%, 11/29/02(/2/)(/3/)........................ 50,000,000 50,000,000 2.10%, 9/13/02-10/4/02(/2/)(/3/)................. 65,000,000 65,000,000 United of Omaha Life Insurance Co.: 2.244%, 1/1/02(/2/).............................. 50,000,000 50,000,000 -------------- 1,770,187,743 -------------- Metals/Mining--1.9% Rio Tinto America, Inc. (gtd. by Rio Tinto plc & Rio Tinto Ltd.): 1.80%, 3/21/02(/1/).............................. 50,000,000 49,802,500 2.03%, 2/25/02(/1/).............................. 38,820,000 38,699,604 2.05%, 1/14/02(/1/).............................. 22,068,000 22,051,664 2.07%, 2/27/02(/1/).............................. 45,000,000 44,852,513 Rio Tinto Ltd. (gtd. by Rio Tinto plc & Rio Tinto Ltd.): 1.75%, 3/13/02(/1/).............................. 31,405,000 31,296,609 1.76%, 3/18/02(/1/).............................. 28,133,000 28,028,470 1.80%, 3/19/02(/1/).............................. 40,185,000 40,030,288 2.26%, 1/22/02(/1/).............................. 50,000,000 49,934,083 2.35%, 1/14/02(/1/).............................. 22,139,000 22,120,213 2.38%, 1/9/02(/1/)............................... 30,264,000 30,247,994 2.40%, 1/10/02(/1/).............................. 21,000,000 20,987,400 2.47%, 1/11/02(/1/).............................. 50,000,000 49,965,694 -------------- 428,017,032 -------------- Nondurable Household Goods--0.4% Gillette Co.: 1.79%, 6/10/02(/1/).............................. 37,000,000 36,705,644 1.82%, 4/2/02(/1/)............................... 35,000,000 34,838,981 3.31%, 3/6/02(/1/)............................... 30,000,000 29,823,467 -------------- 101,368,092 --------------
15 Statement of Investments December 31, 2001 (Unaudited) (Continued) Centennial Money Market Trust
Principal Value Amount See Note 1 ------------ ------------ Oil: International--3.2% BP America, Inc.: 1.795%, 3/20/02..................................... $150,000,000 $149,416,625 1.80%, 2/25/02-3/22/02.............................. 96,985,000 96,655,791 2.10%, 1/2/02....................................... 175,000,000 174,989,792 BP Amoco Capital plc: 2.24%, 4/3/02....................................... 8,400,000 8,351,915 Chevron UK Investment plc (gtd. by Chevron Corp.): 1.88%, 2/6/02(/1/).................................. 20,000,000 19,962,400 2.38%, 1/14/02...................................... 10,000,000 9,991,406 Koch Industries, Inc.: 1.86%, 1/7/02-1/9/02(/1/)........................... 100,000,000 99,963,833 1.87%, 1/15/02(/1/)................................. 50,000,000 49,963,639 Texaco, Inc.: 1.91%, 2/7/02....................................... 85,000,000 84,784,775 1.92%, 2/7/02....................................... 33,600,000 33,533,696 ------------ 727,613,872 ------------ Special Purpose Financial--2.9% Independence Funding LLC: 1.78%, 3/22/02(/1/)................................. 100,000,000 99,604,444 1.83%, 2/21/02(/1/)................................. 49,382,000 49,253,977 Intrepid Funding Master Trust, Series 1999A: 1.95%, 2/15/02(/4/)................................. 14,577,000 14,541,469 2.41%, 1/9/02(/4/).................................. 49,969,000 49,942,239 K2 (USA) LLC: 2%, 7/31/02(/1/).................................... 24,000,000 23,718,667 2.05%, 6/17/02(/1/)................................. 14,500,000 14,362,109 2.06%, 5/1/02-5/22/02(/1/).......................... 87,849,000 87,197,978 2.08%, 4/22/02(/1/)................................. 8,890,000 8,832,985 2.10%, 5/9/02-5/20/02(/1/).......................... 35,690,000 35,412,606 2.18%, 5/28/02(/1/)................................. 23,000,000 22,795,262 MONET Trust, Series 2000-1: 1.97%, 6/28/02(/2/)(/3/)............................ 85,000,000 85,000,000 REVS Ltd., Series 2000-1: 2.29%, 4/1/02(/2/)(/4/)............................. 110,000,000 110,013,334 Sigma Finance, Inc.: 3.35%, 3/7/02(/1/).................................. 66,000,000 65,600,792 ------------ 666,275,862 ------------
16 Statement of Investments December 31, 2001 (Unaudited) (Continued) Centennial Money Market Trust
Principal Value Amount See Note 1 ------------ --------------- Telecommunications: Long Distance--0.6% Cingular Wireless LLC: 2.48%, 1/10/02(/1/).............................. $ 13,000,000 $ 12,991,940 SBC Communications, Inc.: 1.88%, 2/13/02-2/14/02(/1/)...................... 90,000,000 89,795,289 2.04%, 5/6/02(/1/)............................... 13,000,000 12,907,917 2.05%, 5/3/02(/1/)............................... 20,000,000 19,861,056 --------------- 135,556,202 --------------- Total Short-Term Notes (Cost $14,142,265,590)..... 14,142,265,590 --------------- U.S. Government Agencies--9.3% Federal Farm Credit Bank: 2.05%, 5/1/02.................................... 34,400,000 34,407,740 3.52%, 2/1/02.................................... 60,925,000 60,925,685 6.625%, 2/1/02................................... 24,300,000 24,351,544 6.875%, 5/1/02................................... 42,250,000 42,890,784 Federal Home Loan Bank: 1.95%, 4/26/02................................... 25,999,000 25,837,048 2.20%, 9/30/02................................... 50,000,000 49,168,889 4.25%, 5/3/02.................................... 31,500,000 31,711,564 5.125%, 2/26/02.................................. 61,250,000 61,348,402 6.75%, 2/15/02-5/1/02............................ 262,295,000 264,542,253 Federal Home Loan Mortgage Corp.: 1.95%, 4/25/02................................... 125,000,000 124,228,125 2.015%, 1/2/02................................... 150,000,000 149,991,597 2.27%, 1/17/02-2/28/02........................... 173,000,000 172,385,018 5.50%, 5/15/02................................... 208,621,000 211,113,598 Federal National Mortgage Assn.: 1.94%, 5/2/02.................................... 150,000,000 149,021,917 1.95%, 4/5/02.................................... 25,000,000 24,872,708 1.96%, 4/25/02................................... 130,000,000 129,193,133 2.02%, 1/31/02................................... 50,000,000 49,916,667 2.29%, 1/3/02.................................... 89,510,000 89,498,612 2.68%, 3/14/02................................... 49,500,000 49,234,680 5.375%, 3/15/02.................................. 32,328,000 32,451,372 6.375%, 1/16/02.................................. 50,000,000 50,082,385 6.54%, 2/1/02.................................... 25,000,000 25,050,879 6.59%, 5/21/02................................... 19,000,000 19,330,892 6.70%, 5/6/02.................................... 15,200,000 15,431,134
17 Statement of Investments December 31, 2001 (Unaudited) (Continued) Centennial Money Market Trust
Principal Value Amount See Note 1 ----------- --------------- U.S. Government Agencies (Continued) FNMA Master Credit Facility: 2%, 3/1/02...................................... $82,500,000 $ 82,229,583 2.03%, 1/2/02................................... 43,000,000 42,997,575 2.08%, 3/1/02................................... 49,719,000 49,549,514 2.42%, 4/1/02................................... 35,152,000 34,939,331 3.39%, 3/1/02................................... 30,000,000 29,833,325 --------------- Total U.S. Government Agencies (Cost $2,126,535,954)................................. 2,126,535,954 --------------- Total Investments, at Value (Cost $22,486,047,024)................................ 98.4% 22,486,047,024 --------------- Other Assets Net of Liabilities.................. 1.6 375,043,343 ----------- --------------- Net Assets....................................... 100.0% $22,861,090,367 =========== ===============
Short-term notes, bankers' acceptances, 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. Security issued in an exempt transaction without registration under the Securities Act of 1933. Such securities amount to $9,166,046,753, or 40.1% of the Trust's net assets and have been determined to be liquid pursuant to guidelines adopted by the Board of Trustees. 2. Represents the current interest rate for a variable rate security. 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 $174,497,042 or 0.76% of the Trust's net assets as of December 31, 2001. See accompanying Notes to Financial Statements. 18 Statement of Assets and Liabilities December 31, 2001 (Unaudited) Centennial Money Market Trust ASSETS Investments, at value (cost $22,486,047,024)--see accompanying statement...................................... $22,486,047,024 Cash......................................................... 423,923,059 Receivables and other assets: Shares of beneficial interest sold.......................... 137,913,486 Interest.................................................... 36,840,297 Other....................................................... 444,020 --------------- Total assets............................................... 23,085,167,886 --------------- LIABILITIES Payables and other liabilities: Shares of beneficial interest redeemed...................... 219,315,388 Shareholder reports......................................... 2,247,171 Service plan fees........................................... 1,495,433 Dividends................................................... 109,108 Transfer and shareholder servicing agent fees............... 6,105 Registration and filing fees................................ 5,905 Trustees' compensation...................................... 4,710 Other....................................................... 893,699 --------------- Total liabilities.......................................... 224,077,519 --------------- NET ASSETS................................................... $22,861,090,367 =============== COMPOSITION OF NET ASSETS Paid-in capital.............................................. $22,861,188,950 Undistributed (overdistributed) net investment income........ (2,878,464) Accumulated net realized gain (loss) on investment transactions................................................ 2,779,881 --------------- NET ASSETS--applicable to 22,861,721,665 shares of beneficial interest outstanding........................................ $22,861,090,367 =============== NET ASSET VALUE, REDEMPTION PRICE AND OFFERING PRICE PER SHARE....................................................... $1.00
See accompanying Notes to Financial Statements. 19 Statement of Operations For the Six Months Ended December 31, 2001 (Unaudited) Centennial Money Market Trust INVESTMENT INCOME Interest.......................................................... $381,971,649 ------------ EXPENSES Management fees................................................... 38,800,216 Service plan fees................................................. 23,270,981 Transfer and shareholder servicing agent fees..................... 13,801,408 Shareholder reports............................................... 1,248,139 Custodian fees and expenses....................................... 334,854 Trustees' compensation............................................ 38,995 Registration and filing fees...................................... 625,587 Other............................................................. 3,513,696 ------------ Total expenses.................................................. 81,633,876 Less reduction to custodian expenses.............................. (120,823) ------------ NET EXPENSES...................................................... 81,513,053 ------------ NET INVESTMENT INCOME............................................. 300,458,596 ------------ NET REALIZED GAIN (LOSS) ON INVESTMENTS........................... 2,002,988 ------------ NET INCREASE IN NET ASSETS RESULTING FROM OPERATIONS.............. $302,461,584 ============
Statements of Changes in Net Assets
Six Months Ended December 31, 2001 Year Ended (Unaudited) June 30, 2001 --------------- --------------- OPERATIONS Net investment income (loss)................ $ 300,458,596 $ 1,112,686,413 Net realized gain (loss).................... 2,002,988 696,751 --------------- --------------- Net increase (decrease) in net assets resulting from operations.................. 302,461,584 1,113,383,164 --------------- --------------- DIVIDENDS AND/OR DISTRIBUTIONS TO SHAREHOLDERS............................... (303,337,060) (1,112,686,413) --------------- --------------- BENEFICIAL INTEREST TRANSACTIONS Net increase (decrease) in net assets resulting from beneficial interest transactions............................... 651,600,894 3,475,869,627 --------------- --------------- NET ASSETS Total increase (decrease)................... 650,725,418 3,476,566,378 Beginning of period......................... 22,210,364,949 18,733,798,571 --------------- --------------- End of period [including undistributed (overdistributed) net investment income of $(2,878,464) for the period ended December 31, 2001].................................. $22,861,090,367 $22,210,364,949 =============== ===============
See accompanying Notes to Financial Statements. 20 Financial Highlights Centennial Money Market Trust
Six Months Ended Year Ended June 30, December 31, 2001 ----------------------------------------------- (Unaudited) 2001 2000 1999 1998 1997 ----------------- ------- ------- ------- ------- ------ PER SHARE OPERATING DATA Net asset value, beginning of period.... $1.00 $1.00 $1.00 $1.00 $1.00 $1.00 Income from investment operations--net investment income and net realized gain...... .01 .06 .05 .05 .05 .05 Dividends and/or distributions to shareholders........... (.01) (.06) (.05) (.05) (.05) (.05) ------- ------- ------- ------- ------- ------ Net asset value, end of period................. $1.00 $1.00 $1.00 $1.00 $1.00 $1.00 ======= ======= ======= ======= ======= ====== TOTAL RETURN(/1/)....... 1.32% 5.51% 5.36% 4.75% 5.16% 4.97% RATIOS/SUPPLEMENTAL DATA Net assets, end of period (in millions)... $22,861 $22,210 $18,734 $17,821 $15,114 $9,063 Average net assets (in millions).............. $23,128 $20,830 $18,537 $17,128 $12,617 $8,033 Ratios to average net assets:(/2/) Net investment income... 2.58% 5.34% 5.20% 4.63% 5.04% 4.86% Expenses................ 0.70% 0.67% 0.67% 0.66% 0.68%(/3/) 0.73%(/3/) Expenses, net of reduction to excess expenses............... N/A N/A N/A N/A 0.66% 0.67%
1. Assumes a $1,000 hypothetical initial 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 less than one year. 2. Annualized for periods of less than one full year. 3. Expense ratio has been calculated without adjustment for the reduction to custodian expenses. See accompanying Notes to Financial Statements. 21 Notes to Financial Statements (Unaudited) 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. Repurchase Agreements. The Trust requires its custodian bank to take possession, to have legally segregated in the Federal Reserve Book Entry System or to have segregated within the custodian's vault, all securities held as collateral for repurchase agreements. The market value of the underlying securities is required to be at least 102% of the resale price at the time of purchase. If the seller of the agreement defaults and the value of the collateral declines, or if the seller enters an insolvency proceeding, realization of the value of the collateral by the Trust may be delayed or limited. 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. Security Transactions. Security transactions are accounted for as of trade date. 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. 22 Notes to Financial Statements (Unaudited) (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:
Six Months Ended December 31, 2001 Year Ended June 30, 2001 --------------------------------- --------------------------------- Shares Amount Shares Amount --------------- ---------------- --------------- ---------------- Sold.................... 26,679,568,237 $ 26,679,568,237 56,834,272,372 $ 56,834,272,372 Dividends and/or distributions reinvested............. 318,782,568 318,782,568 1,119,562,805 1,119,562,805 Redeemed................ (26,346,749,911) (26,346,749,911) (54,477,965,550) (54,477,965,550) --------------- ---------------- --------------- ---------------- Net increase (decrease)............. 651,600,894 $ 651,600,894 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. The Trust's management fee for the six months ended December 31, 2001, 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 an annual maintenance fee for each Trust shareholder account. Service Plan Fees. Under an approved service plan, the Trust may expend up to 0.20% of its average annual net assets annually to reimburse the Manager, as distributor, for costs incurred in connection with the personal service and maintenance of accounts that hold shares of the Trust, including amounts paid to brokers, dealers, banks and other financial institutions. During the six months ended December 31, 2001, the Trust paid $626 to a broker/dealer affiliated with the Manager as reimbursement for distribution-related expenses. 4. Illiquid Securities As of December 31, 2001, 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 December 31, 2001 was $723,100,000, which represents 3.16% of the Trust's net assets. 23 Centennial Money Market Trust Officers and Trustees 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 C. Howard Kast, Trustee Robert M. Kirchner, Trustee F. William Marshall, Jr., Trustee Barry Weiss, Vice President Carol E. Wolf, Vice President Robert G. Zack, Vice President and Secretary Brian W. Wixted, Treasurer Robert J. Bishop, Assistant Treasurer Scott T. Farrar, Assistant Treasurer Katherine P. Feld, Assistant Secretary Kathleen T. Ives, Assistant Secretary Denis R. Molleur, Assistant Secretary Investment Advisor and Distributor Centennial Asset Management Corporation Transfer and Shareholder Servicing Agent Shareholder Services, Inc. Custodian of Portfolio Securities Citibank, N.A. Independent Auditors Deloitte & Touche LLP Legal Counsel Myer, Swanson, Adams & Wolf, P.C. The financial statements included herein have been taken from the records of the Trust without examination of those records by the independent auditors. 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. RS0150.001.1201 [LOGO] Printed on recycled paper 2001 Semiannual Report Centennial Money Market Trust December 31, 2001 -----END PRIVACY-ENHANCED MESSAGE-----