-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: keymaster@town.hall.org Originator-Key-Asymmetric: MFkwCgYEVQgBAQICAgADSwAwSAJBALeWW4xDV4i7+b6+UyPn5RtObb1cJ7VkACDq pKb9/DClgTKIm08lCfoilvi9Wl4SODbR1+1waHhiGmeZO8OdgLUCAwEAAQ== MIC-Info: RSA-MD5,RSA, Hwqt9zbVF90ke662gzldE/gtT0PtiDvCZYLzTklcSbT+ASfPpDVbTh/m9LoXD09S 4OP7KbtbZIHRMTK0HdRZZw== 0000950146-94-000050.txt : 19940311 0000950146-94-000050.hdr.sgml : 19940311 ACCESSION NUMBER: 0000950146-94-000050 CONFORMED SUBMISSION TYPE: N-30D PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 19931231 FILED AS OF DATE: 19940310 FILER: COMPANY DATA: COMPANY CONFORMED NAME: CENTENNIAL MONEY MARKET TRUST CENTRAL INDEX KEY: 0000312538 STANDARD INDUSTRIAL CLASSIFICATION: IRS NUMBER: 840856138 FISCAL YEAR END: 0630 FILING VALUES: FORM TYPE: N-30D SEC ACT: 40 SEC FILE NUMBER: 811-02945 FILM NUMBER: 94515328 BUSINESS ADDRESS: STREET 1: 3410 S GALENA ST CITY: DENVER STATE: CO ZIP: 80231 BUSINESS PHONE: 3036713200 FORMER COMPANY: FORMER CONFORMED NAME: DAILY CASH INSTITUTIONAL TRUST DATE OF NAME CHANGE: 19810624 N-30D 1 OPPENHEIMER CENTENNIAL MONEY MARKET TRUST SEMIANNUAL Dear Centennial Money Market Trust Shareholder: We are pleased to provide you with the 1993 semi-annual report for Centennial Money Market Trust. During the six-month period ended December 31, 1993, the Trust's compounded annualized yield was 2.70%. The corresponding yield without compounding was 2.67%. The seven-day annualized yields with and without compounding at December 31, 1993 were 2.74% and 2.71%, respectively. Centennial Money Market Trust is managed to seek current income consistent with the preservation of capital. It invests primarily in high quality, short-term money market securities. During the past six months, the market for money market securities was characterized by stable short-term interest rates. With the U.S. economy sluggish throughout most of the year, interest rates remained low, which made it attractive for companies to issue long-term debt. Therefore, the supply of short-term money market securities was lower than usual. Inflation remained under control which led to a neutral stance by the Federal Reserve regarding interest rate adjustments. The net result is that current short- term interest rates are at essentially the same level as at the beginning of 1993. In this low short-term interest rate environment, the Trust continues to invest all of its assets in high quality money market instruments. The Trust's portfolio is concentrated in the corporate sector of the market to gain additional yield. Within this area, a portion of holdings are invested in floating rate instruments, which have yields tied to various indices, such as the prime rate or U.S. Treasury bill rate. The Trust received higher yields from these securities when short-term interest rates increased in October. In selecting money market securities, the Trust's managers diversify the portfolio's holdings by market sector and issuer. Each security is carefully analyzed to ensure that it meets the high quality standards of the Trust and can provide a competitive return. Going forward, Centennial Money Market Trust will continue to seek attractive yield opportunities, while closely monitoring economic factors in order to anticipate interest rate movements. Although we do not believe that short- term rates will increase dramatically in 1994, we intend to adjust the average maturity of our holdings to take advantage of new opportunities if rates rise slightly later in the coming year. We appreciate your confidence in the Trust's management. We will continue to do our best to help you reach your investment goals in the years to come. (James C. Swain signature) James C. Swain Chairman--Centennial Money Market Trust (Jon S. Fossel signature) Jon S. Fossel President--Centennial Money Market Trust January 21, 1994 Statement of Investments December 31, 1993 (Unaudited) Centennial Money Market Trust
Face Market Amount Value -- Note 1 Bankers' Acceptances--0.2% $ 5,000,000 Sanwa Bank Ltd., 3.30%, 2/25/94 (Cost $4,974,792) $ 4,974,792 Certificates of Deposit--3.7% Eurodollar Certificates of Deposit--0.2% 5,000,000 Sanwa Bank Ltd., 3.32%, 1/26/94 4,999,856 Yankee Bank Certificates of Deposit--3.5% 50,000,000 Mitsubishi Bank Ltd., 3.30%-3.87%, 1/31/94-6/22/94 50,008,482 25,000,000 Sanwa Bank Ltd., 3.30%-3.78%, 1/12/94-2/2/94 25,000,113 5,000,000 Societe Generale, 3.48%, 7/11/94 5,000,000 80,008,595 Total Certificates of Deposit (Cost $85,008,451) 85,008,451 Direct Bank Obligations--8.2% Abbey National PLC, guaranteeing commercial paper of: 22,000,000 Abbey National North America Corp., 3.22%-3.35%, 3/18/94-4/26/94 21,810,457 ABN Amro Bank NV, guaranteeing commercial paper of: 18,000,000 ABN AMRO Bank Canada, 3.375%, 1/28/94 17,954,437 25,000,000 ABN Amro North America Finance, Inc., 3.30%, 1/12/94 24,974,792 Bankers Trust New York Corp., guaranteeing commercial paper of: 5,000,000 Bankers Trust Co. New York, 5.375%, 2/1/94 5,008,357 Canadian Imperial Bank of Commerce, guaranteeing commercial paper of: 36,500,000 Canadian Imperial Holdings, Inc., 3.25%-3.40%, 1/26/94-5/2/94 36,278,093 20,000,000 FCC National Bank, 3.45%, 1/4/94( (1)) 20,000,000 5,000,000 Royal Bank of Canada, 3.27%, 3/24/94 4,962,758 Societe Generale, guaranteeing commercial paper of: 40,700,000 Societe Generale North America, Inc., 3.25%-3.36%, 1/11/94-2/23/94 40,601,880 Toronto-Dominion Bank, guaranteeing commercial paper of: 15,000,000 Toronto-Dominion Holdings, Inc., 3.30%, 4/11/94 14,862,500 Total Direct Bank Obligations (Cost $186,453,274) 186,453,274 Letters of Credit--0.9% Banc One Corp., guaranteeing commercial paper of: 10,000,000 Nationwide Funding Corp., 3.60%, 1/6/94( (1) (2) (3)) 10,000,000 Sanwa Bank Ltd., guaranteeing commercial paper of: 10,000,000 Orix America, Inc., 3.42%, 2/1/94( (3)) 9,970,550 Total Letters of Credit (Cost $19,970,550) 19,970,550 Short-Term Notes--82.0% Asset-Backed--12.7% Beta Finance, Inc.: 5,000,000 3.51%, 1/3/94( (1) (3)) 5,000,000 23,113,000 3.23%-3.32%, 1/31/94-4/19/94( (3)) 22,950,931 14,900,000 Cooperative Association of Tractor Dealers, Inc., 3.25%-3.42%, 3/14/94-5/11/94 14,751,739 2 Corporate Asset Funding Co., Inc.: $10,000,000 3.15%-3.35%, 1/14/94-1/18/94 $ 9,986,514 5,000,000 3.3306%, 1/18/94( (1)) 4,999,441 12,600,000 Corporate Receivable Corp., 3.32%, 2/7/94 12,557,006 48,575,000 Falcon Asset Securitization Corp., 3.25%, 1/20/94-1/28/94 48,481,878 40,175,000 First Deposit Master Trust 1993-3, 3.25%-3.44%, 1/12/94-5/20/94( (3) (4)) 39,853,928 76,500,000 Preferred Receivables Funding Corp., 3.30%-3.38%, 1/6/94-2/11/94 76,338,394 18,000,000 SMM Trust 1993-A, 3.3625%, 3/18/94( (3)) 17,999,729 5,000,000 SMM Trust 1993-B, 3.55%, 2/14/94( (1) (3) (4)) 5,000,000 30,000,000 WCP Funding, 3.25%, 1/14/94 29,964,792 287,884,352 Banks--2.4% 33,000,000 Bankers Trust New York Corp., 3.30%-3.37%, 1/10/94-2/11/94 32,914,192 6,000,000 CoreStates Capital Corp., 3.37%, 1/7/94 6,000,000 4,000,000 Fleet Financial Group, Inc., 3.38%, 1/14/94 3,995,118 5,000,000 Norwest Corp., 3.26%, 1/12/94 4,995,019 7,000,000 Security Pacific Corp., 9.23%, 3/14/94 7,080,902 54,985,231 Beverages--Alcoholic--0.4% 8,100,000 Bass Finance (C.I.) Ltd., 3.35%, 1/21/94 8,084,925 Beverages--Soft Drinks--0.7% 15,000,000 Coca-Cola Enterprises, Inc., 3.43%, 1/31/94( (3)) 14,957,125 Broker-Dealers--23.3% Bear Stearns Cos., Inc.: 25,000,000 3.37%-3.6875%, 1/3/94-1/4/94( (1)) 25,000,000 74,200,000 3.22%-3.80%, 1/12/94-6/6/94 73,776,542 30,000,000 CS First Boston Group, Inc., 3.4875%, 1/28/94( (1) (3)) 30,000,000 55,000,000 Dean Witter, Discover & Co., 3.25%-3.35%, 1/14/94-1/31/94 54,904,847 Goldman Sachs Group L.P.: 25,000,000 3.07%-3.375%, 1/3/94-1/18/94( (1) (3) (4)) 25,000,000 20,000,000 3.22%-3.30%, 1/14/94-3/17/94 19,912,841 50,000,000 3.4375%-3.6374%, 1/18/94-3/15/94( (3) (4)) 50,000,000 12,000,000 3.25%, 3/21/94( (1) (2) (3) (4)) 12,000,000 Lehman Brothers Holdings, Inc.: 50,500,000 3.375%, 1/3/94( (1)) 50,500,000 5,000,000 3.35%, 3/17/94 4,965,104 Merrill Lynch & Co., Inc.: 27,600,000 3.02%-3.45%, 1/3/94( (1)) 27,598,363 53,500,000 3.23%-3.53%, 1/19/94-4/18/94 53,246,211 3 Morgan Stanley Group, Inc.: $20,798,000 2.82%, 1/3/94( (1)) $ 20,798,000 10,000,000 3.20%-3.35%, 1/27/94-1/31/94 9,974,486 25,000,000 Republic New York Securities Corp., 3.425%, 1/3/94( (1) (2)) 25,000,000 Shearson Lehman Brothers Holdings, Inc.: 10,000,000 3.57%, 1/4/94( (1)) 10,000,000 35,000,000 3.46%-3.5781%, 1/7/94-1/20/94 34,990,869 527,667,263 Building Materials Group--1.0% 23,000,000 Compagnie de Saint-Gobain SA, 3.20%-3.30%, 2/25/94-5/19/94 22,786,661 Commercial Finance--1.7% CIT Group Holdings, Inc.: 20,000,000 3.20%-3.30%, 1/3/94( (1)) 19,986,003 11,000,000 3.5915%, 5/9/94( (1) (2)) 11,000,000 8,000,000 Heller Financial, Inc., 3.6897%, 5/18/94( (1) (2)) 8,000,000 38,986,003 Conglomerates--3.7% 6,000,000 Grand Metropolitan Finance PLC, guaranteed by Grand Metropolitan PLC, 3.35%, 5,934,675 4/28/94 26,883,000 MCA Funding Corp., 3.24%-8.10%, 1/21/94-4/8/94( (3)) 26,927,102 4,000,000 Mitsubishi International Corp., 3.27%, 3/31/94 3,967,664 26,000,000 Pacific Dunlop Holdings, Inc., guaranteed by Pacific Dunlop Ltd., 3.40%-3.43%, 25,865,387 1/21/94-5/13/94( (3)) 20,000,000 Pacific Dunlop Ltd., 3.24%-3.275%, 2/24/94-3/1/94( (3)) 19,897,726 82,592,554 Consumer Non-Cyclicals--5.0% American Brands, Inc.: 30,000,000 3.25%-3.43%, 1/10/94-5/16/94 29,870,815 83,100,000 3.25%-3.40%, 1/13/94-5/5/94( (3)) 82,762,908 112,633,723 Diversified Finance--6.7% 10,000,000 Ford Motor Credit Corp., 6.15%, 1/14/94 10,009,138 42,500,000 General Electric Capital Corp., 3.35%-3.40%, 1/7/94-4/18/94 42,317,629 Household Finance Corp.: 42,000,000 3.41%-3.70%, 1/3/94-1/5/94( (1)) 42,000,000 5,000,000 9%, 2/1/94 5,023,372 12,000,000 3.7656%, 6/8/94( (1) (2)) 12,000,000 41,000,000 Transamerica Finance Corp., 3.25%-3.32%, 1/20/94-2/23/94 40,870,495 152,220,634 4 Electronics--0.2% $ 5,000,000 Mitsubishi Electric Finance America, Inc., 3.44%, 1/14/94( (3)) $ 4,993,789 Financial Services--Miscellaneous--8.6% 96,043,000 Countrywide Funding Corp., 3.30%-3.55%, 1/7/94-4/6/94 95,814,242 98,000,000 Fleet Mortgage Group, Inc., 3.27%-3.45%, 1/12/94-2/7/94 97,835,547 193,649,789 Food-Grain and Agriculture--0.7% 15,000,000 Cargill, Inc., 3.43%-3.4938%, 1/24/94( (3) (4)) 15,000,000 Foreign Government Obligations--4.8% 25,000,000 Finnish Export Credit Ltd., supported by the Republic of Finland, 3.20%-3.30%, 24,907,265 1/12/94-4/27/94 85,000,000 New South Wales Treasury Corp., supported by the Commonwealth of Australia, 84,815,400 State of New South Wales, 3.30%-3.36%, 1/10/94-2/3/94 109,722,665 Industrial--1.0% 23,500,000 BICC Cables Corp., guaranteed by BICC PLC, 3.37%-3.55%, 1/4/94-2/2/94 23,460,628 Insurance--3.3% 75,000,000 Sun Life Insurance Co., 3.7125%, 1/10/94( (1) (2)) 75,000,000 Lubricants and Fuels--0.4% 8,000,000 Burmah Castrol Finance PLC, guaranteed by Burmah Castrol PLC, 3.375%, 1/26/94( 7,981,250 (3)) Municipal--1.0% 23,200,000 Carilion Services, Inc., guaranteed by MBIA, 3.25%-3.50%, 1/10/94-1/28/94 23,199,854 Oil-Integrated International--1.4% 11,000,000 Petrofina (DE), Inc., 3.24%-3.37%, 4/4/94-4/18/94 10,898,051 20,000,000 Statoil, guaranteed by Den Norske Stats Oljeselskap AS, 3.25%-3.55%, 19,973,653 1/3/94-1/28/94 30,871,704 Pollution Control--1.9% 44,600,000 WMX Technologies, Inc., 3.25%-3.32%, 4/5/94-6/19/94( (3)) 44,127,615 Savings and Loans-Holdings Companies--0.2% 5,000,000 Household Bank, 3.45%, 1/14/94 4,999,998 Telecommunications--0.9% 21,100,000 NYNEX Corp., 3.25%-3.40%, 3/15/94-3/28/94 20,942,408 Total Short-Term Notes (Cost $1,856,748,171) 1,856,748,171 5 Short-Term U.S. Government Obligations--5.0% $106,211,741 Small Business Administration, 4%-7.625%, 1/1/94( (1)) (Cost $113,066,534) $ 113,066,534 Total Investments, at Value (Cost $2,266,221,772) 100.0% 2,266,221,772 Liabilities in Excess of Other Assets -- (346,291) Net Assets 100.0% $2,265,875,481
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. Variable rate security. The interest rate, which is based on specific, or an index of, market interest rates, is subject to change periodically and is the effective rate on December 31, 1993. 2. Put obligation redeemable at full face value on the date reported. 3. Security purchased in private placement transaction, without registration under the Securities Act of 1933 (the Act). The securities were acquired between January 19, 1993 and December 31, 1993, are carried at amortized cost, and amount to $470,288,040, or 20.8% of the Trust's net assets. 4. In addition to being restricted, the security is considered illiquid by virtue of the absence of a readily available market or because of legal or contractual restrictions on resale. Illiquid securities amount to $146,853,928, or 6.5% of the Trust's net assets, at December 31, 1993. The Trust may not invest more than 10% of its net assets (determined at the time of purchase) in illiquid securities. See accompanying Notes to Financial Statements. 6 Statement of Assets and Liabilities December 31, 1993 (Unaudited) Centennial Money Market Trust ASSETS: Investments, at value (cost $2,266,221,772)--see accompanying statement $2,266,221,772 Cash 5,421,375 Receivables: Shares of beneficial interest sold 20,196,200 Interest and principal paydowns 6,666,371 Other 238,562 Total assets 2,298,744,280 LIABILITIES: Payables and other liabilities: Shares of beneficial interest redeemed 31,608,215 Distribution assistance--Note 3 190,385 Dividends 17,896 Other 1,052,303 Total liabilities 32,868,799 NET ASSETS $2,265,875,481 COMPOSITION OF NET ASSETS: Paid-in capital $2,265,811,227 Accumulated net realized gain from investment transactions 64,254 NET ASSETS--Applicable to 2,265,811,227 shares of beneficial interest outstanding $2,265,875,481 NET ASSET VALUE, REDEMPTION PRICE AND OFFERING PRICE PER SHARE $1.00
See accompanying Notes to Financial Statements 7 Statement of Operations For the Six Months Ended December 31, 1993 (Unaudited) Centennial Money Market Trust INVESTMENT INCOME--Interest $37,806,970 EXPENSES: Management fees--Note 3 4,509,029 Distribution assistance--Note 3 2,210,557 Transfer and shareholder servicing agent fees--Note 3 1,858,058 Custodian fees and expenses 171,550 Registration and filing fees 146,441 Shareholder reports 100,006 Legal and auditing fees 20,392 Trustees' fees and expenses 10,779 Other 15,582 Total expenses 9,042,394 Less reimbursement from Centennial Asset Management Corporation--Note 3 (563,010) Net expenses 8,479,384 NET INVESTMENT INCOME 29,327,586 NET REALIZED GAIN ON INVESTMENTS 1,091 NET INCREASE IN NET ASSETS RESULTING FROM OPERATIONS $29,328,677
See accompanying Notes to Financial Statements 8 Statements of Changes in Net Assets Centennial Money Market Trust
Six Months Ended December 31, Year Ended 1993 June 30, (Unaudited) 1993 OPERATIONS: Net investment income $ 29,327,586 $ 47,958,826 Net realized gain on investments 1,091 239,115 Net increase in net assets resulting from operations 29,328,677 48,197,941 DIVIDENDS AND DISTRIBUTIONS TO SHAREHOLDERS (29,567,234) (47,958,826) BENEFICIAL INTEREST TRANSACTIONS: Net increase in net assets resulting from beneficial interest transactions--Note 2 274,715,286 720,736,594 NET ASSETS: Total increase 274,476,729 720,975,709 Beginning of period 1,991,398,752 1,270,423,043 End of period $2,265,875,481 $1,991,398,752
See accompanying Notes to Financial Statements 9 Financial Highlights Centennial Money Market Trust
Year Ended June 30, Six Months Ended December 31, 1993 (Unaudited) 1993 1992 1991 1990 1989 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 on investments .01 .03(1) .04(1) .07 .08 .08 Dividends and distributions to shareholders (.01) (.03) (.04) (.07) (.08) (.08) Net asset value, end of period $1.00 $1.00 $1.00 $1.00 $1.00 $1.00 RATIOS/SUPPLEMENTAL DATA: Net assets, end of period (in thousands) $2,265,875 $1,991,399 $1,270,423 $539,433 $470,078 $333,409 Average net assets (in thousands) $2,195,016 $1,700,638 $820,546 $494,871 $421,969 $272,430 Number of shares outstanding at end of period (in thousands) 2,265,811 1,991,096 1,270,359 539,418 470,080 333,409 Ratios to average net assets: Net investment income 2.65%(1) 2.82% 4.31% 6.66% 7.82% 8.24% Expenses .77%(1)(2) .78%(2) .69%(2) .84% .84% .90% 1. Annualized. 2. Absent the voluntary expense limitation, the expense ratio would have been .82%, .83% and .81% for the six months ended December 31, 1993 and the years ended June 30, 1993 and 1992, respectively.
See accompanying Notes to Financial Statements 10 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 a diversified, open-end management investment company. The Trust's investment advisor is Centennial Asset Management Corporation (the Manager), a subsidiary of Oppenheimer Management Corporation (OMC). The following is a summary of significant accounting policies consistently followed by the Trust. Investment Valuation--Portfolio securities are valued on the basis of amortized cost, which approximates market value. Federal Income 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 tax provision is required. Distributions to Shareholders--The Trust intends to declare dividends from net investment income each regular business day and pay such dividends monthly. To effect its policy of maintaining a net asset value of $1.00 per share, the Trust may withhold dividends or make distributions of net realized gains. Other--Investment transactions are accounted for on the date the investments are purchased or sold (trade date). Realized gains and losses on investments are determined on an identified cost basis, which is the same basis used for federal income tax purposes. 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, 1993 Year Ended June 30, 1993 Shares Amount Shares Amount Sold 5,040,092,416 $ 5,040,092,416 8,687,789,457 $ 8,687,789,457 Dividends and distributions reinvested 30,405,139 30,405,139 46,057,413 46,057,413 Redeemed (4,795,782,269) (4,795,782,269) (8,013,110,276) (8,013,110,276) Net increase 274,715,286 $ 274,715,286 720,736,594 $ 720,736,594
11 3. Management Fees and Other Transactions with Affiliates Management fees paid to the Manager were in accordance with the investment advisory agreement with the Trust which provides for an annual fee of .50% on the first $250 million of net assets with a reduction of .025% on each $250 million thereafter, to .40% on net assets in excess of $1 billion. The Manager has voluntarily agreed to reduce the fee on net assets in excess of $1.25 billion, to .375% on the first $250 million, .35% on the next $500 million, and .325% on net assets in excess of $2 billion. The Manager has agreed to reimburse the Trust if aggregate expenses (with specified exceptions) exceed the lesser of 1.50% of the first $30 million of average annual net assets of the Trust, plus 1% of average annual net assets in excess of $30 million; or 25% of the total annual investment income of the Trust. In addition, the Manager has voluntarily undertaken to assume Trust expenses to the level needed to maintain a seven-day yield at least equal to, and a dividend equal to, that of Daily Cash Accumulation Fund, Inc., another registered investment company advised by the Manager. Shareholder Services, Inc. (SSI), a subsidiary of OMC, is the transfer and shareholder servicing agent for the Trust, and for other registered investment companies. SSI's total costs of providing such services are allocated ratably to these companies. Under an approved plan of distribution, the Trust may expend up to .20% of its net assets annually to reimburse certain securities dealers and other financial institutions and organizations for costs incurred in distributing Trust shares. 12 (This page has been left blank intentionally.) (This page has been left blank intentionally.) (This page has been left blank intentionally.) Centennial Money Market Trust Officers and Trustees James C. Swain, Chairman and Chief Executive Officer Robert G. Avis, Trustee William A. Baker, Trustee Charles Conrad, Jr., Trustee Jon S. Fossel, Trustee and President Raymond J. Kalinowski, Trustee C. Howard Kast, Trustee Robert M. Kirchner, Trustee Ned M. Steel, Trustee Andrew J. Donahue, Vice President Dorothy G. Warmack, Vice President Carol E. Wolf, Vice President Arthur J. Zimmer, Vice President George C. Bowen, Vice President, Secretary and Treasurer Lynn M. Coluccy, Assistant Treasurer Robert G. Zack, 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 Legal Counsel Myer, Swanson & Adams, P.C. The financial statements included herein have been taken from the records of the Trust without examination by the independent auditors. This is a copy of a report to shareholders of Centennial Money Market Trust. This report must be preceded or accompanied by a Prospectus of Centennial Money Market Trust. For material information concerning the Trust, see the Prospectus. For shareholder servicing, call: 1-800-525-7048 (in U.S.) 303-671-3200 (outside U.S.) Or write: Shareholder Services, Inc. P.O. Box 5270 Denver, CO 80217-5270 RS150.0194.R Printed on recycled paper. 1993 Semi-Annual Report Centennial Money Market Trust December 31, 1993 -----END PRIVACY-ENHANCED MESSAGE-----