-----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, sdrVmdywUZj4rnjgW1VHLq1gcwszF39NyWc0aereSMO/x5n1HDPJ6TmCfWZwHU9a nJG9mOXFIchUG7YQoP6qxw== 0000950146-95-000528.txt : 19950906 0000950146-95-000528.hdr.sgml : 19950906 ACCESSION NUMBER: 0000950146-95-000528 CONFORMED SUBMISSION TYPE: N-30D PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 19950630 FILED AS OF DATE: 19950905 SROS: NASD FILER: COMPANY DATA: COMPANY CONFORMED NAME: CENTENNIAL MONEY MARKET TRUST CENTRAL INDEX KEY: 0000312538 STANDARD INDUSTRIAL CLASSIFICATION: UNKNOWN SIC - 0000 [0000] 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: 95570137 BUSINESS ADDRESS: STREET 1: 3410 S GALENA ST CITY: DENVER STATE: CO ZIP: 80231 BUSINESS PHONE: 3036713200 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 A/R CENTENNIAL MONEY MARKET TRUST Dear Shareholder: We are pleased to send you the annual report for Centennial Money Market Trust. During the 12-month period ended June 30, 1995, the Trust's compounded annualized yield was 5.11%. The corresponding yield without compounding was 4.98%. The seven-day annualized yields with and without compounding on June 30, 1995 were 5.55% and 5.41%, respectively.((1)) Between February 1994 and February 1995, the Fed raised interest rates as a proactive attempt to preempt inflation and prolong the current cycle of economic growth. These rate rises successfully kept the economy from overheating, as economic data released throughout the first half of the year suggested that the Fed had finally achieved its intended effect of slowing the rate of economic growth. Although lower interest rates are generally good news for the economy and the securities markets, they do not benefit short-term savings vehicles like money market funds. With a share price designed not to fluctuate, income is the only variable in money market fund returns--and declining rates limit the amount of income available from the types of safe, short-term securities in which money market funds invest. Yet in any environment, it's important to have a portion of your money allocated to stable investments. Money market funds are designed to offer liquidity, a stable share price, and professional management aimed to capture high yields.((2)) Moving forward, we believe the Fed will feel little pressure to increase interest rates in the near term given the economy's slowdown--and rates on money market funds will likely remain at current levels. If the Fed sees later this year that the rate of growth has slowed less than initially anticipated, it could move to raise rates again, which would boost yields. Or, if the Fed discovers the economy has stalled, it could lower rates to stimulate growth. Therefore, until the full extent of the economic slowdown is known, questions about the direction of the economy will persist and money market funds should remain an excellent defensive investment. Thank you for your confidence in Centennial Money Market Trust. We look forward to helping you continue to reach your investment goals in the future. Sincerely, /s/ JON S. FOSSEL Jon S. Fossel President, Centennial Money Market Trust /s/ JAMES C. SWAIN James C. Swain Chairman, Centennial Money Market Trust July 24, 1995 1. Compounded yields assume reinvestment of dividends. Past performance is not indicative of future results. 2. The Fund is neither insured nor guaranteed by the U.S. government, and there is no assurance that the Fund will maintain a stable $1 share price in the future. STATEMENT OF INVESTMENTS June 30, 1995 Centennial Money Market Trust
Amortized Face Cost Amount See Note 1 -------------- -------------- CERTIFICATES OF DEPOSIT--6.6% DOMESTIC CERTIFICATES OF DEPOSIT--0.6% LaSalle National Bank, 5.81%, 9/19/95 $ 15,000,000 $ 15,000,000 LaSalle National Bank, 6.03%, 8/21/95 10,000,000 10,000,000 LaSalle National Bank, 6.04%, 8/17/95 5,000,000 5,000,000 ------------ 30,000,000 ------------ YANKEE CERTIFICATES OF DEPOSIT--6.0% Canadian Imperial Bank of Commerce, 6.07%, 8/15/95 15,000,000 15,000,498 Mitsubishi Bank Ltd., 5.77%, 9/6/95 10,000,000 9,995,288 Mitsubishi Bank Ltd., 5.94%, 8/15/95 5,000,000 4,962,875 Mitsubishi Bank Ltd., 5.95%, 8/21/95 20,000,000 19,831,417 Mitsubishi Bank Ltd., 6%, 8/15/95 15,000,000 15,000,000 Mitsubishi Bank Ltd., 6.01%, 8/14/95 10,000,000 9,999,384 Mitsubishi Bank Ltd., 6.03%, 8/14/95 4,000,000 3,999,856 Mitsubishi Bank Ltd., 6.04%, 8/11/95 15,000,000 15,000,000 Mitsubishi Bank Ltd., 6.06%, 8/10/95 17,000,000 17,000,558 Sanwa Bank Ltd., 6.02%, 8/14/95 10,000,000 9,999,878 Sanwa Bank Ltd., 6.02%, 9/5/95 7,000,000 7,001,570 Sanwa Bank Ltd., 6.03%, 7/13/95 38,500,000 38,422,615 Sanwa Bank Ltd., 6.03%, 8/14/95 6,000,000 5,999,847 Sanwa Bank Ltd., 6.03%, 8/28/95 15,000,000 15,000,476 Sanwa Bank Ltd., 6.04%, 7/17/95 10,000,000 10,000,035 Sanwa Bank Ltd., 6.04%, 7/17/95 10,000,000 9,999,938 Sanwa Bank Ltd., 6.05%, 7/14/95 25,000,000 25,000,404 Sanwa Bank Ltd., 6.06%, 7/18/95 10,000,000 10,000,140 Sanwa Bank Ltd., 6.06%, 7/18/95 10,000,000 9,999,976 Sanwa Bank Ltd., 6.06%, 8/10/95 10,000,000 10,000,130 Sanwa Bank Ltd., 6.06%, 8/22/95 10,000,000 10,000,142 Sanwa Bank Ltd., 6.14%, 7/24/95 15,000,000 15,000,273 ------------ 287,215,300 ------------ Total Certificates of Deposit (Cost $317,215,300) 317,215,300 ------------ DIRECT BANK OBLIGATIONS--7.7% Abbey National PLC, guaranteeing commercial paper of: Abbey National North America Corp., 5.75%, 9/6/95 25,000,000 24,732,465 Abbey National North America Corp., 5.90%, 8/7/95 10,000,000 9,939,361 ABN Amro Bank NV, guaranteeing commercial paper of: ABN Amro Bank, Canada, 5.75%, 9/7/95 10,000,000 9,891,389 Canadian Imperial Bank of Commerce, guaranteeing commercial paper of: Canadian Imperial Holdings, Inc., 5.94%, 8/10/95 15,000,000 14,901,000 Canadian Imperial Holdings, Inc., 5.94%, 8/9/95 12,000,000 11,922,780 2 STATEMENT OF INVESTMENTS (Continued) Centennial Money Market Trust Amortized Face Cost Amount See Note 1 -------------- -------------- DIRECT BANK OBLIGATIONS (CONTINUED) FCC National Bank, 5.61%, 7/5/95((1)) $ 25,000,000 $ 24,992,381 FCC National Bank, 5.61%, 7/5/95((1)) 14,000,000 13,995,539 FCC National Bank, 5.72%, 7/5/95((1)) 15,000,000 15,000,000 FCC National Bank, 5.72%, 7/5/95((1)) 10,000,000 9,998,288 First National Bank of Boston, 5.70%, 11/21/95 5,000,000 4,886,791 First National Bank of Boston, 6.25%, 7/3/95((1)) 10,000,000 10,000,000 First National Bank of Boston, 6.27%, 7/3/95((1)) 25,000,000 25,000,000 First National Bank of Boston, 6.27%, 7/3/95((1)) 15,000,000 15,000,000 First National Bank of Boston, 6.28%, 7/18/95((1)) 11,000,000 11,001,384 First National Bank of Boston, 6.30%, 7/3/95((1)) 5,000,000 5,002,366 First National Bank of Boston, 6.35%, 7/3/95((1)) 10,000,000 10,000,000 Huntington National Bank, 5.80%, 12/8/95 15,000,000 15,000,000 Huntington National Bank, 6.05%, 5/31/96 13,000,000 13,034,054 National Westminster Bank, guaranteeing commercial paper of: National Westminster Bank of Canada, 5.65%, 1/26/96 10,000,000 9,671,986 National Westminster Bank of Canada, 5.72%, 9/29/95 15,000,000 14,785,500 National Westminster Bank of Canada, 5.97%, 8/10/95 15,000,000 14,900,500 National Westminster Bank of Canada, 5.97%, 8/9/95 14,000,000 13,909,455 NationsBank Corp., guaranteeing commercial paper of: NationsBank of Georgia, N.A., 6.10%, 8/16/95 10,000,000 10,000,495 PNC Bank, N.A., 6%, 7/5/95((1)) 10,000,000 9,999,315 Royal Bank of Canada, 5.95%, 8/31/95 10,000,000 9,899,181 Shawmut Bank of Connecticut, N.A., 6.208%, 8/10/95((1)) 10,000,000 10,000,000 Shawmut Bank of Connecticut, N.A., 6.25%, 7/3/95((1)) 35,000,000 34,991,300 ------------ Total Direct Bank Obligations (Cost $372,455,530) 372,455,530 ------------ LETTERS OF CREDIT--3.2% Banc One Dayton, guaranteeing commercial paper of: Nationwide Funding Corp., 6.07%, 7/6/95((1)(2)(3)) 8,999,000 8,999,000 Credit Suisse, guaranteeing commercial paper of: Queensland Alumina Ltd., 5.90%, 9/22/95 5,000,000 4,931,986 Mitsubishi Bank Ltd., guaranteeing commercial paper of: DIC Americas, Inc., 5.90%, 9/18/95 20,000,000 19,741,055 DIC Americas, Inc., 5.98%, 8/24/95 15,000,000 14,865,450 Mitsubishi Motors Credit of America, 5.55%-5.63%, 12/5/95 20,000,000 19,512,428 Mitsubishi Motors Credit of America, 5.88%-5.92%, 9/29/95 71,500,000 70,445,125 Sanwa Bank Ltd., guaranteeing commercial paper of: Orix America, Inc., 5.93%, 9/15/95((2)) 6,500,000 6,418,627 Orix America, Inc., 5.95%, 7/5/95((2)) 4,000,000 3,997,356 Orix America, Inc., 5.97%, 8/4/95((2)) 6,000,000 5,966,170 ------------ Total Letters of Credit (Cost $154,877,197) 154,877,197 ------------ 3 STATEMENT OF INVESTMENTS (CONTINUED) Centennial Money Market Trust Amortized Face Cost Amount See Note 1 -------------- ------------ SHORT-TERM NOTES--76.5% Banks--3.3% Barnett Banks, Inc., 6.02%, 7/10/95 $ 10,000,000 $ 9,984,950 Barnett Banks, Inc., 6.02%, 7/7/95 50,000,000 49,949,833 Barnett Banks, Inc., 6.07%-6.10%, 7/6/95 36,000,000 35,969,554 Barnett Banks, Inc., 6.20%, 7/11/95 13,000,000 12,977,611 Chase Manhattan Corp., 6.03%, 7/21/95 9,000,000 8,969,850 Chemical Banking Corp., 5.60%, 12/8/95 10,000,000 9,751,111 CoreStates Capital Corp., 5.88%, 9/12/95 15,000,000 14,821,150 CoreStates Capital Corp., 6.11%, 7/24/95((1)) 5,000,000 5,000,000 First Bank, N.A. Minneapolis, 6.033%, 7/19/95((1)) 10,000,000 10,000,000 ------------ 157,424,059 ------------ BEVERAGES--2.6% Bass Finance (C.I.) Ltd., guaranteed by Bass PLC, 5.90%, 9/7/95 10,000,000 9,888,556 Bass Finance (C.I.) Ltd., guaranteed by Bass PLC, 5.95%, 9/6/95 6,650,000 6,576,360 Coca-Cola Enterprises, Inc., 5.91%, 9/15/95((2)) 5,000,000 4,937,617 Coca-Cola Enterprises, Inc., 5.91%, 9/18/95((2)) 20,000,000 19,740,617 Coca-Cola Enterprises, Inc., 5.96%, 8/25/95((2)) 10,000,000 9,908,944 Coca-Cola Enterprises, Inc., 5.96%, 8/8/95((2)) 10,000,000 9,937,089 Coca-Cola Enterprises, Inc., 6.03%, 7/17/95((2)) 25,000,000 24,933,000 Coca-Cola Enterprises, Inc., 6.03%, 7/31/95((2)) 40,000,000 39,799,000 ------------ 125,721,183 ------------ BROKER/DEALERS--4.9% CS First Boston Group, Inc., 5.79%, 10/13/95 15,000,000 14,749,100 CS First Boston Group, Inc., 5.90%, 10/4/95 12,000,000 11,813,167 CS First Boston Group, Inc., 5.92%-5.97%, 9/6/95 30,000,000 29,667,605 CS First Boston Group, Inc., 5.96%, 10/6/95 10,000,000 9,839,411 Goldman Sachs Group L.P., 6.06%, 9/21/95((2)(4)) 12,000,000 12,000,000 Goldman Sachs Group L.P., 6.08%, 7/13/95((2)(4)) 20,000,000 20,000,000 Goldman Sachs Group L.P., 6.188%, 7/27/95((1)(2)(4)) 10,000,000 10,000,000 Goldman Sachs Group L.P., 6.25%, 7/18/95((1)(2)(4)) 10,000,000 10,000,000 Morgan Stanley Group, Inc., 5.94%, 8/7/95 25,000,000 24,847,375 Morgan Stanley Group, Inc., 5.96%, 7/3/95((1)) 51,900,000 51,900,000 Morgan Stanley Group, Inc., 6%, 7/7/95 25,000,000 24,975,000 Morgan Stanley Group, Inc., 6.02%, 7/26/95 15,000,000 14,937,292 ------------ 234,728,950 ------------ BUILDING MATERIALS--0.5% Compagnie de Saint-Gobain SA, 5.87%, 9/12/95 15,000,000 14,821,454 Redland Finance, Inc., guaranteed by Redland PLC, 5.97%, 7/28/95 8,250,000 8,213,061 ------------ 23,034,515 ------------ 4 STATEMENT OF INVESTMENTS (CONTINUED) Centennial Money Market Trust Amortized Face Cost Amount See Note 1 -------------- -------------- SHORT-TERM NOTES (CONTINUED) CHEMICALS--0.3% Monsanto Co., 5.67%, 10/13/95 $ 10,000,000 $ 9,836,200 Monsanto Co., 5.77%, 12/20/95 5,000,000 4,862,161 ------------ 14,698,361 ------------ COMMERCIAL FINANCE--8.0% CIT Group Holdings, Inc., 5.65%, 10/10/95 15,000,000 14,762,229 CIT Group Holdings, Inc., 5.96%, 8/16/95 15,000,000 14,885,767 CIT Group Holdings, Inc., 5.97%, 8/14/95 40,000,000 39,708,133 CIT Group Holdings, Inc., 6.208%, 7/12/95((1)(3)) 11,000,000 11,000,000 CIT Group Holdings, Inc., 6.45%, 7/3/95((1)) 10,000,000 9,998,397 FINOVA Capital Corp., 5.95%, 9/21/95 10,000,000 9,864,472 FINOVA Capital Corp., 5.97%, 9/22/95 11,500,000 11,341,712 FINOVA Capital Corp., 6%, 9/7/95 50,000,000 49,433,333 FINOVA Capital Corp., 6%-6.07%, 8/30/95 20,000,000 19,798,833 FINOVA Capital Corp., 6.03%, 8/18/95 15,000,000 14,879,400 FINOVA Capital Corp., 6.05%, 8/25/95 10,000,000 9,907,570 FINOVA Capital Corp., 6.05%, 8/29/95 10,000,000 9,900,847 FINOVA Capital Corp., 6.07%, 7/28/95 9,000,000 8,959,028 FINOVA Capital Corp., 6.07%, 8/4/95 38,000,000 37,782,155 Fleet Mortgage Group, Inc., 5.93%, 8/25/95 15,000,000 14,864,104 Fleet Mortgage Group, Inc., 5.98%, 7/25/95 30,000,000 29,880,400 Fleet Mortgage Group, Inc., 6.02%, 7/17/95 10,000,000 9,973,245 Fleet Mortgage Group, Inc., 6.05%, 7/20/95 30,000,000 29,904,208 Heller Financial, Inc., 5.52%, 3/12/96 25,000,000 24,022,500 Heller Financial, Inc., 5.85%, 9/25/95 12,000,000 11,832,300 ------------ 382,698,633 ------------ CONGLOMERATES--1.4% Mitsubishi International Corp., 5.90%, 9/11/95 7,000,000 6,917,400 Mitsubishi International Corp., 5.95%, 8/15/95 7,880,000 7,821,393 Mitsubishi International Corp., 5.95%, 8/23/95 5,000,000 4,956,201 Mitsubishi International Corp., 6.07%, 7/5/95 14,000,000 13,990,558 Pacific Dunlop Holdings, Inc., guaranteed by Pacific Dunlop Ltd., 5.92%, 8/31/95((2)) 8,809,000 8,720,636 Pacific Dunlop Holdings, Inc., guaranteed by Pacific Dunlop Ltd., 5.97%, 7/18/95((2)) 5,000,000 4,985,904 Pacific Dunlop Holdings, Inc., guaranteed by Pacific Dunlop Ltd., 5.97%, 8/21/95((2)) 15,000,000 14,873,138 Pacific Dunlop Ltd., 5.88%, 9/18/95((2)) 5,000,000 4,935,483 ------------ 67,200,713 ------------ CONSUMER FINANCE--1.9% Beneficial Corp., 5.72%, 7/5/95((1)) 7,000,000 7,000,000 Sears Roebuck Acceptance Corp., 5.70%, 12/19/95 5,000,000 4,864,625 5 STATEMENT OF INVESTMENTS (CONTINUED) Centennial Money Market Trust Amortized Face Cost Amount See Note 1 -------------- -------------- SHORT-TERM NOTES (CONTINUED) Sears Roebuck Acceptance Corp., 5.70%, 9/22/95 $ 20,000,000 $ 19,737,167 Sears Roebuck Acceptance Corp., 5.92%, 8/7/95 10,000,000 9,939,156 Sears Roebuck Acceptance Corp., 5.97%, 8/21/95 17,000,000 16,856,222 Sears Roebuck Acceptance Corp., 5.98%, 8/18/95 35,000,000 34,720,933 ------------ 93,118,103 ------------ DIVERSIFIED FINANCIAL--10.6% Associates Corp. of North America, 6.25%, 7/3/95 6,800,000 6,797,639 Ford Motor Credit Co., 5.60%-5.68%, 1/12/96 23,200,000 22,489,767 Ford Motor Credit Co., 5.70%, 9/1/95 30,000,000 29,705,500 Ford Motor Credit Co., 5.73%-5.77%, 10/2/95 35,000,000 34,479,329 Ford Motor Credit Co., 5.92%, 8/1/95 11,000,000 10,943,924 Ford Motor Credit Co., 5.92%, 8/21/95 8,000,000 7,932,907 Ford Motor Credit Co., 5.93%, 8/23/95 10,000,000 9,912,697 Ford Motor Credit Co., 5.94%, 7/21/95 25,000,000 24,917,500 Ford Motor Credit Co., 5.95%, 7/5/95 22,000,000 21,985,456 General Electric Capital Corp., 5.56%, 12/4/95 15,000,000 14,638,600 General Electric Capital Corp., 5.65%, 12/8/95 25,000,000 24,372,222 General Electric Capital Corp., 5.75%, 9/18/95 30,000,000 29,621,458 General Electric Capital Corp., 5.85%, 9/25/95 20,000,000 19,720,500 General Electric Capital Corp., 6.02%, 8/4/95 10,000,000 9,943,145 General Electric Capital Corp., 6.25%, 7/3/95((1)) 15,000,000 14,996,443 General Electric Capital Corp., 6.29%, 7/3/95((1)) 15,000,000 14,996,399 General Motors Acceptance Corp., 5.58%-5.63%, 11/27/95 30,000,000 29,305,081 General Motors Acceptance Corp., 5.65%, 12/26/95 15,000,000 14,580,958 General Motors Acceptance Corp., 5.68%, 12/22/95 25,000,000 24,313,667 General Motors Acceptance Corp., 5.75%, 2/16/96 30,000,000 28,897,917 General Motors Acceptance Corp., 5.92%, 10/20/95 15,000,000 14,726,200 General Motors Acceptance Corp., 5.99%, 8/21/95 10,000,000 9,915,142 General Motors Acceptance Corp., 6%, 8/2/95 13,000,000 12,930,667 General Motors Acceptance Corp., 6.09%-6.11%, 7/17/95 40,000,000 39,891,444 General Motors Acceptance Corp., 6.50%, 7/22/95((1)) 26,500,000 26,544,449 Household Finance Corp., 5.75%, 9/7/95 10,000,000 9,891,389 ------------ 508,450,400 ------------ DURABLE HOUSEHOLD GOODS--0.8% Newell Co., 5.90%, 10/11/95((2)) 15,000,000 14,749,250 Newell Co., 5.91%, 10/16/95((2)) 10,000,000 9,824,342 Newell Co., 6.05%, 7/19/95((2)) 15,000,000 14,954,625 ------------ 39,528,217 ------------ ELECTRIC UTILITIES--1.5% Central & Southwest Corp., 5.92%, 8/16/95 14,000,000 13,894,098 6 STATEMENT OF INVESTMENTS (Continued) Centennial Money Market Trust Amortized Face Cost Amount See Note 1 -------------- -------------- SHORT-TERM NOTES (CONTINUED) ELECTRIC UTILITIES (CONTINUED) Central & Southwest Corp., 5.95%, 8/2/95 $ 15,000,000 $ 14,920,667 Vattenfall Treasury, Inc., guaranteed by Vattenfall AB, 6.02%, 7/28/95 8,600,000 8,561,171 Vattenfall Treasury, Inc., guaranteed by Vattenfall AB, 6.05%, 7/7/95 35,000,000 34,964,708 ------------ 72,340,644 ------------ ELECTRICAL EQUIPMENT--0.1% Xerox Corp., 5.62%, 3/11/96 5,000,000 4,801,739 ------------ ELECTRONICS--1.3% Mitsubishi Electric Finance America, Inc., 5.93%, 9/14/95((2)) 20,000,000 19,752,917 Mitsubishi Electric Finance America, Inc., 5.97%, 7/20/95 15,000,000 14,952,737 Mitsubishi Electric Finance America, Inc., 5.98%, 7/14/95 10,000,000 9,978,405 Panasonic Finance, Inc., 5.75%, 10/20/95((2)) 9,500,000 9,331,573 Panasonic Finance, Inc., 6.25%, 7/3/95((2)) 10,000,000 9,996,528 ------------ 64,012,160 ------------ HEALTHCARE/DRUGS--0.5% Sandoz Corp., 5.75%, 9/7/95 6,000,000 5,934,833 Sandoz Corp., 5.90%, 9/8/95 20,000,000 19,773,833 ------------ 25,708,666 ------------ HEALTHCARE/SUPPLIES & SERVICES--3.4% A.H. Robins Co., Inc., guaranteed by American Home Products, 5.95%, 8/30/95((2)) 19,500,000 19,306,625 A.H. Robins Co., Inc., guaranteed by American Home Products, 5.98%, 7/17/95((2)) 13,400,000 13,364,386 A.H. Robins Co., Inc., guaranteed by American Home Products, 6%, 7/6/95((2)) 15,000,000 14,987,500 Allergan, Inc., 6.03%, 7/6/95 15,000,000 14,987,438 American Home Food Products, Inc., 5.98%, 7/18/95((2)) 15,000,000 14,957,642 American Home Food Products, Inc., 6.02%, 7/24/95((2)) 15,000,000 14,942,308 American Home Food Products, Inc., 6.08%, 7/10/95((2)) 25,000,000 24,962,000 American Home Products, 5.97%, 8/29/95((2)) 15,000,000 14,853,237 American Home Products, 6.02%, 7/24/95((2)) 15,000,000 14,942,308 American Home Products, 6.08%, 7/10/95((2)) 10,000,000 9,984,800 American Home Products, 6.30%, 7/3/95((2)) 5,900,000 5,897,935 ------------ 163,186,179 ------------ INSURANCE--4.3% Pacific Mutual Life Insurance Co., 6.235%, 7/3/95((1)(2)(3)(4)) 25,000,000 25,000,000 Protective Life Insurance Co., 6.19%, 8/16/95((2)(3)) 20,000,000 20,000,000 Protective Life Insurance Co., 6.213%, 7/3/95((1)(2)(4)) 10,000,000 10,000,000 Sun Life Insurance Co., 6.158%, 7/5/95 ((1)(3)) 110,000,000 110,000,000 TransAmerica Life Insurance & Annuity Co., 6.203%, 7/3/95 ((1)(2)(3)) 43,000,000 43,000,000 ------------ 208,000,000 ------------ 7 STATEMENT OF INVESTMENTS (Continued) Centennial Money Market Trust Amortized Face Cost Amount See Note 1 -------------- -------------- SHORT-TERM NOTES (CONTINUED) LEASING & FACTORING--6.1% CSW Credit, Inc., 5.97%, 7/14/95 $ 28,700,000 $ 28,638,128 International Lease Finance Corp., 6%, 7/20/95 12,500,000 12,460,417 International Lease Finance Corp., 6%, 7/24/95 10,000,000 9,961,667 International Lease Finance Corp., 6.03%, 7/19/95 13,000,000 12,960,805 Sanwa Business Credit Corp., 5.74%, 7/5/95((1)(2)) 15,000,000 15,000,000 Sanwa Business Credit Corp., 5.77%, 9/15/95 20,000,000 19,756,378 Sanwa Business Credit Corp., 5.87%, 9/18/95 10,000,000 9,871,186 Sanwa Business Credit Corp., 5.88%, 9/14/95 7,000,000 6,914,250 Sanwa Business Credit Corp., 5.90%, 8/11/95 20,000,000 19,865,611 Sanwa Business Credit Corp., 5.90%, 9/25/95 3,500,000 3,450,669 Sanwa Business Credit Corp., 5.91%, 8/22/95 11,000,000 10,906,097 Sanwa Business Credit Corp., 5.91%, 8/31/95 10,000,000 9,899,858 Sanwa Business Credit Corp., 5.93%, 8/7/95 7,000,000 6,957,337 Sanwa Business Credit Corp., 5.93%, 9/1/95 5,000,000 4,948,936 Sanwa Business Credit Corp., 5.94%, 8/14/95 17,000,000 16,876,580 Sanwa Business Credit Corp., 5.94%, 8/15/95 20,000,000 19,851,500 Sanwa Business Credit Corp., 5.94%, 8/18/95 20,000,000 19,841,600 Sanwa Business Credit Corp., 5.96%, 7/17/95 15,000,000 14,960,267 Sanwa Business Credit Corp., 5.97%, 7/21/95 9,700,000 9,667,828 Sanwa Business Credit Corp., 6.05%, 7/12/95 5,000,000 4,990,757 Sanwa Business Credit Corp., 6.16%, 7/3/95((1)(2)) 15,000,000 14,996,758 The Hertz Corp., 5.77%, 9/18/95 20,000,000 19,746,761 ------------ 292,523,390 ------------ MANUFACTURING--4.8% Hanson Finance (UK) PLC, guaranteed by Hanson PLC, 5.75%, 9/15/95 20,000,000 19,757,222 Hanson Finance (UK) PLC, guaranteed by Hanson PLC, 5.75%, 9/22/95 5,000,000 4,933,715 Hanson Finance (UK) PLC, guaranteed by Hanson PLC, 5.90%, 9/7/95 25,000,000 24,721,389 Hanson Finance (UK) PLC, guaranteed by Hanson PLC, 5.93%, 8/25/95 10,000,000 9,909,403 Hanson Finance (UK) PLC, guaranteed by Hanson PLC, 5.94%, 8/17/95 20,000,000 19,844,900 Hanson Finance (UK) PLC, guaranteed by Hanson PLC, 5.95%, 8/15/95 15,000,000 14,888,438 Hanson Finance (UK) PLC, guaranteed by Hanson PLC, 5.95%-5.97%, 8/18/95 33,000,000 32,737,720 Hanson Finance (UK) PLC, guaranteed by Hanson PLC, 5.96%, 8/21/95 24,100,000 23,896,516 Hanson Finance (UK) PLC, guaranteed by Hanson PLC, 5.96%, 8/9/95 15,000,000 14,903,150 Hanson Finance (UK) PLC, guaranteed by Hanson PLC, 6.05%, 7/10/95 10,000,000 9,984,875 Hanson Finance (UK) PLC, guaranteed by Hanson PLC, 6.05%, 7/5/95 25,000,000 24,983,194 Rexam PLC, 5.90%, 8/29/95((2)) 13,750,000 13,617,045 Rexam PLC, 5.95%, 8/4/95((2)) 15,000,000 14,915,708 ------------ 229,093,275 ------------ 8 STATEMENT OF INVESTMENTS (Continued) Centennial Money Market Trust Amortized Face Cost Amount See Note 1 -------------- -------------- SHORT-TERM NOTES (CONTINUED) METALS/MINING--0.4% RTZ America, Inc., guaranteed by RTZ Corp., PLC, 6%, 7/24/95((2)) $ 12,900,000 $ 12,850,550 RTZ America, Inc., guaranteed by RTZ Corp., PLC, 6.05%, 7/10/95((2)) 5,278,000 5,270,017 ------------ 18,120,567 ------------ OIL-INTEGRATED--1.5% Repsol International Finance BV, 6%, 7/19/95 27,000,000 26,919,000 Repsol International Finance BV, 6.05%, 7/6/95 25,000,000 24,978,993 Texaco, Inc., 6.05%, 7/6/95 20,000,000 19,983,194 ------------ 71,881,187 ------------ SAVINGS & LOANS--0.6% Household Bank FSB, 5.92%, 9/20/95 10,000,000 9,999,335 Household Bank FSB, 6%, 8/23/95 10,000,000 9,999,710 Household Bank FSB, 6%, 8/30/95 10,000,000 10,000,000 ------------ 29,999,045 ------------ SPECIAL PURPOSE FINANCIAL--15.6% Asset Securitization Cooperative, 5.92%, 7/31/95((2)) 38,000,000 37,812,533 Asset Securitization Cooperative, 5.95%, 8/11/95((2)) 25,000,000 24,830,590 Asset Securitization Cooperative, 5.97%, 8/25/95((2)) 14,000,000 13,872,308 Beta Finance, Inc., 5.80%, 10/11/95((2)) 4,000,000 3,934,267 Beta Finance, Inc., 5.90%, 9/15/95((2)) 10,000,000 9,875,444 CIESCO L.P., 5.83%, 10/13/95 11,000,000 10,814,736 CIESCO L.P., 5.85%, 9/22/95((2)) 16,800,000 16,573,410 CIESCO L.P., 5.95%, 7/27/95 15,000,000 14,935,542 CIESCO L.P., 5.95%, 8/11/95 20,000,000 19,864,472 Cooperative Association of Tractor Dealers, Inc., 5.98%, 8/15/95 7,400,000 7,344,685 Cooperative Association of Tractor Dealers, Inc., 6%, 7/25/95 3,700,000 3,685,200 Cooperative Association of Tractor Dealers, Inc., 6.03%, 7/24/95 7,000,000 6,973,033 Cooperative Association of Tractor Dealers, Inc., 6.05%, 7/5/95 11,500,000 11,492,269 Cooperative Association of Tractor Dealers, Inc., 6.10%, 7/6/95 5,100,000 5,095,679 Cooperative Association of Tractor Dealers, Inc., 6.30%, 7/3/95 4,400,000 4,398,460 CXC, Inc., 5.76%, 9/7/95((2)) 20,000,000 19,782,400 CXC, Inc., 5.95%, 8/7/95((2)) 25,000,000 24,847,118 CXC, Inc., 5.95%, 8/8/95((2)) 10,000,000 9,937,194 CXC, Inc., 5.95%, 9/13/95((2)) 10,000,000 9,877,694 CXC, Inc., 5.96%, 8/14/95((2)) 20,000,000 19,854,311 CXC, Inc., 6.02%, 7/14/95((2)) 7,000,000 6,984,783 CXC, Inc., 6.05%, 7/10/95((2)) 20,000,000 19,969,750 Falcon Asset Securitization Corp., 5.92%, 8/21/95((2)) 11,825,000 11,725,828 Falcon Asset Securitization Corp., 5.93%-5.94%, 8/18/95((2)) 26,575,000 26,364,659 9 STATEMENT OF INVESTMENTS (Continued) Centennial Money Market Trust Amortized Face Cost Amount See Note 1 -------------- -------------- SHORT-TERM NOTES (CONTINUED) SPECIAL PURPOSE FINANCIAL (CONTINUED) First Deposit Master Trust 1993-3, 5.88%, 9/29/95((2)(4)) $ 10,000,000 $ 9,853,125 First Deposit Master Trust 1993-3, 5.92%, 8/22/95((2)(4)) 13,300,000 13,186,270 Madison Funding Corp., 5.92%, 8/31/95 10,100,000 9,998,686 Madison Funding Corp., 5.95%, 8/11/95 12,300,000 12,216,650 Madison Funding Corp., 5.98%, 7/11/95 7,900,000 7,886,877 Madison Funding Corp., 6.02%, 7/27/95 25,125,000 25,015,762 New Center Asset Trust, 5.93%, 8/28/95 10,000,000 9,904,461 New Center Asset Trust, 5.95%, 8/7/95 40,000,000 39,755,389 New Center Asset Trust, 5.97%, 8/9/95 3,490,000 3,467,428 New Center Asset Trust, 5.98%, 8/11/95 15,000,000 14,897,842 New Center Asset Trust, 6.01%, 8/2/95 13,000,000 12,930,551 New Center Asset Trust, 6.02%, 7/24/95 18,000,000 17,930,770 New Center Asset Trust, 6.02%, 8/1/95 15,000,000 14,922,242 New Center Asset Trust, 6.03%, 7/26/95 10,000,000 9,958,125 New Center Asset Trust, 6.03%, 7/31/95 15,000,000 14,924,625 New Center Asset Trust, 6.07%, 7/10/95 15,000,000 14,977,238 New Center Asset Trust, 6.07%, 7/11/95 12,500,000 12,478,924 New Center Asset Trust, 6.30%, 7/3/95 40,000,000 39,986,000 SMM Trust 1994-B, 6.18%, 8/11/95((2)(4)) 20,000,000 20,000,000 SMM Trust 1995-I, 6.083%, 7/31/95((1)(2)(4)) 25,000,000 24,993,379 Structured Enhanced Return Trust 1994 Series A-11, 6.25%, 7/3/95((1)(2)(4)) 10,000,000 10,000,000 WCP Funding, 5.87%, 9/27/95((2)) 20,000,000 19,713,022 WCP Funding, 5.92%, 8/25/95 20,000,000 19,819,111 WCP Funding, 5.95%, 7/28/95 15,000,000 14,933,063 WCP Funding, 5.95%, 8/16/95((2)) 14,500,000 14,389,760 ------------ 748,985,665 ------------ SPECIALTY RETAILING--0.2% St. Michael Finance Ltd., guaranteed by Marks & Spencer PLC, 5.95%, 8/14/95 4,252,000 4,221,079 St. Michael Finance Ltd., guaranteed by Marks & Spencer PLC, 6.02%, 7/27/95 5,000,000 4,978,261 ------------ 9,199,340 ------------ TELECOMMUNICATIONS-TECHNOLOGY--1.4% Electronic Data Systems Corp., 5.85%, 9/15/95 16,395,000 16,192,522 NYNEX Corp., 5.72%, 10/13/95 5,000,000 4,917,378 NYNEX Corp., 5.77%-5.94%, 9/5/95 24,600,000 24,336,656 NYNEX Corp., 5.89%, 9/14/95 10,000,000 9,877,292 NYNEX Corp., 6%, 8/31/95 15,000,000 14,847,500 ------------ 70,171,348 ------------ 10 STATEMENT OF INVESTMENTS (Continued) Centennial Money Market Trust Amortized Face Cost Amount See Note 1 -------------- -------------- SHORT-TERM NOTES (Continued) TOYS--0.5% Hasbro, Inc., 5.83%, 9/28/95 $ 13,200,000 $ 13,009,748 Hasbro, Inc., 5.95%, 8/22/95 10,000,000 9,914,055 ------------ 22,923,803 ------------ Total Short-Term Notes (Cost $3,677,550,142) 3,677,550,142 ------------ U.S. GOVERNMENT OBLIGATIONS--1.2% Small Business Administration, 6.625%-10.625%, 7/3/95 (Cost $59,462,594)((5)) 57,002,806 59,462,594 ------------ FOREIGN GOVERNMENT OBLIGATIONS--0.3% Swedish Export Credit Corp., supported by the Kingdom of Sweden, 5.60%, 1/16/96 (Cost $13,566,622) 14,000,000 13,566,622 ------------ REPURCHASE AGREEMENTS--0.4% Repurchase agreement with J.P. Morgan Securities, Inc., 6.18%, dated 6/30/95, to be repurchased at $20,310,455 on 7/3/95, collateralized by Federal National Mortgage Assn., 6.50%, 6/1/25, with a value of $9,208,740, and Federal Home Loan Mortgage Corp., 7%-8.50%, 5/1/24-6/1/25, with a value of $11,798,991 (Cost $20,300,000) 20,300,000 20,300,000 ------------ Total Investments, at Amortized Cost 95.9% 4,615,427,385 Other Assets Net of Liabilities 4.1 196,765,354 ------------ ------------ Net Assets 100.0% $4,812,192,739 ============ ============
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. Variable rate security. The interest rate, which is based on specific, or an index of, current market interest rates, is subject to change periodically and is the effective rate on June 30, 1995. 2. Security purchased in private placement transaction, without registration under the Securities Act of 1933 (the Act). The securities are carried at amortized cost, and amount to $989,988,480, or 20.6% of the Trust's net assets. 3. Put obligation redeemable at full face value on the date reported. 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 $165,032,774, or 3.4% of the Trust's net assets, at June 30, 1995. The Trust may not invest more than 10% of its net assets (determined at the time of purchase) in illiquid securities. 5. Floating or variable rate obligation maturing in more than one year. The interest rate, which is based on specific, or an index of, current market interest rates, is subject to change periodically and is the effective rate on June 30, 1995. This instrument may also have a demand feature which allows the recovery of principal at any time, or at specified intervals not exceeding one year, on up to 30 days' notice. Maturity date shown represents effective maturity based on variable rate and, if applicable, demand feature. See accompanying Notes to Financial Statements. 11 STATEMENT OF ASSETS AND LIABILITIES June 30, 1995 Centennial Money Market Trust
ASSETS: Investments, at amortized cost, see accompanying statement $4,615,427,385 Receivables: Shares of beneficial interest sold 257,850,106 Interest and principal paydowns 9,681,169 Other 287,501 -------------- Total assets 4,883,246,161 -------------- LIABILITIES: Bank overdraft 11,942,433 Payables and other liabilities: Shares of beneficial interest redeemed 46,932,638 Dividends 10,104,401 Transfer and shareholder servicing agent fees--Note 3 682,258 Service plan fees--Note 3 376,525 Trustees' fees 19,393 Other 995,774 -------------- Total liabilities 71,053,422 -------------- NET ASSETS $4,812,192,739 ============== COMPOSITION OF NET ASSETS: Paid-in capital $4,811,697,145 Accumulated net realized gain from investment transactions 495,594 -------------- NET ASSETS--Applicable to 4,811,697,145 shares of beneficial interest outstanding $4,812,192,739 ============== NET ASSET VALUE, REDEMPTION PRICE AND OFFERING PRICE PER SHARE $1.00
See accompanying Notes to Financial Statements. 12 STATEMENT OF OPERATIONS For the Year Ended June 30, 1995 Centennial Money Market Trust INVESTMENT INCOME: Interest $ 191,956,662 -------------- EXPENSES: Management fees--Note 3 12,657,193 Service plan fees--Note 3 6,674,126 Transfer and shareholder servicing agent fees--Note 3 3,579,829 Registration and filing fees 897,701 Shareholder reports 312,377 Custodian fees and expenses 222,599 Legal and auditing fees 46,965 Trustees' fees and expenses 39,898 Other 41,698 -------------- Total expenses 24,472,386 -------------- NET INVESTMENT INCOME 167,484,276 NET REALIZED GAIN ON INVESTMENTS 431,897 -------------- NET INCREASE IN NET ASSETS RESULTING FROM OPERATIONS $ 167,916,173 ============== STATEMENTS OF CHANGES IN NET ASSETS Centennial Money Market Trust
Year Ended June 30, 1995 1994 -------------- ---------------- OPERATIONS: Net investment income $ 167,484,276 $ 66,535,442 Net realized gain on investments 431,897 1,255 ------------- -------------- Net increase in net assets resulting from operations 167,916,173 66,536,697 DIVIDENDS AND DISTRIBUTIONS TO SHAREHOLDERS (167,484,999) (66,775,088) BENEFICIAL INTEREST TRANSACTIONS: Net increase in net assets resulting from beneficial interest transactions Note 2 2,252,373,243 568,227,961 ------------- -------------- NET ASSETS: Total increase 2,252,804,417 567,989,570 Beginning of period 2,559,388,322 1,991,398,752 ------------ -------------- End of period $4,812,192,739 $2,559,388,322 ============= ==============
See accompanying Notes to Financial Statements. 13 FINANCIAL HIGHLIGHTS Centennial Money Market Trust
Nine Months Year Ended June 30, Ended ---------------------------------------------------------------------------------------- June 30, 1995 1994 1993 1992 1991 1990 1989 1988 1987 1986 ---------- ---------- ---------- ---------- -------- -------- -------- -------- -------- --------- PER SHARE OPERATING DATA: Net asset value, beginning of period $1.00 $1.00 $1.00 $1.00 $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 .05 .03((1)) .03((1)) .04((1)) .07 .08 .08 .06 .05 .05 Dividends and distributions to shareholders (.05) (.03) (.03) (.04) (.07) (.08) (.08) (.06) (.05) (.05) ----- ----- ----- ----- ----- ----- ----- ----- ----- ----- Net asset value, end of period $1.00 $1.00 $1.00 $1.00 $1.00 $1.00 $1.00 $1.00 $1.00 $1.00 ===== ===== ===== ===== ===== ===== ===== ===== ===== ===== TOTAL RETURN, AT NET ASSET VALUE ((2)) 5.21% 2.82% 2.91% 4.73% 7.31% 8.32% 8.33% 6.29% 5.09% 7.19% RATIOS/SUPPLEMENTAL DATA: Net assets, end of period (in thousands) $4,812,193 $2,559,388 $1,991,399 $1,270,423 $539,433 $470,078 $333,409 $231,210 $190,701 $171,477 Average net assets (in thousands) $3,342,447 $2,345,744 $1,700,638 $ 820,546 $494,871 $421,969 $272,430 $212,273 $190,923 $163,383 Number of shares outstanding at end of period (in thousands) 4,811,697 2,559,324 1,991,096 1,270,359 539,418 470,080 333,409 231,212 190,701 171,477 Ratios to average net assets: Net investment income 5.01% 2.84% 2.82% 4.31% 6.66% 7.82% 8.24% 6.16% 5.40% 6.67%((3)) Expenses .73% .76%((1)) .78%((1)) .69%((1)).84% .84% .90% .98% 1.00% 1.04%((3))
1. Net investment income would have been $.03, $.03 and $.04 per share absent the voluntary expense limitation, resulting in an expense ratio of .81%, .83%, and .81% for the years ended June 30, 1994, 1993 and 1992, respectively. 2. Assumes a 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 are not annualized for periods of less than one full year. Total returns reflect changes in net investment income only. 3. Annualized. See accompanying Notes to Financial Statements. 14 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 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 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. Distributions to Shareholders--The Trust intends to declare dividends from net investment income each day the New York Stock Exchange is open for business 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:
Year Ended June 30, 1995 Year Ended June 30, 1994 ----------------------------------- -------------------------------------- Shares Amount Shares Amount --------------- ----------------- ---------------- ------------------ Sold 14,974,552,413 $ 14,974,552,413 10,696,571,220 $ 10,696,571,220 Dividends and distributions reinvested 156,243,456 156,243,456 62,872,689 62,872,689 Redeemed (12,878,422,626) (12,878,422,626) (10,191,215,948) (10,191,215,948) ------------- --------------- -------------- ---------------- Net increase 2,252,373,243 $ 2,252,373,243 568,227,961 $ 568,227,961 ============= =============== ============== ================
15 NOTES TO FINANCIAL STATEMENTS (Continued) Centennial Money Market Trust 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 a fee of .50% on the first $250 million of average annual 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. A voluntary undertaking to assume Trust expenses to the level needed to maintain a seven-day yield at least equal to that of Daily Cash Accumulation Fund, Inc., another registered investment company advised by the Manager, was terminated December 1, 1994. 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 service plan, 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. 16 INDEPENDENT AUDITORS' REPORT Centennial Money Market Trust The Board of Trustees and Shareholders of Centennial Money Market Trust: We have audited the accompanying statement of assets and liabilities, including the statement of investments, of Centennial Money Market Trust as of June 30, 1995, the related statement of operations for the year then ended, the statements of changes in net assets for the years ended June 30, 1995 and 1994, and the financial highlights for the period October 1, 1985 to June 30, 1995. 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 generally accepted auditing standards. 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 at June 30, 1995 by correspondence with the custodian. 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, such financial statements and financial highlights present fairly, in all material respects, the financial position of Centennial Money Market Trust at June 30, 1995, the results of its operations, the changes in its net assets, and the financial highlights for the respective stated periods, in conformity with generally accepted accounting principles. DELOITTE & TOUCHE LLP Denver, Colorado July 24, 1995 17 FEDERAL INCOME TAX INFORMATION (Unaudited) Centennial Money Market Trust In early 1996, shareholders will receive information regarding all dividends and distributions paid to them by the Trust during calendar year 1995. 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 fiscal year ended June 30, 1995 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. 18 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. Donohue, 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 Robert J. Bishop, Assistant Treasurer Scott Farrar, 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 LLP Legal Counsel Myer, Swanson, Adams & Wolf, P.C. 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. Shares of Centennial Money Market Trust are not deposits or obligations of any bank, are not guaranteed by any bank, and are not insured by the FDIC or any other agency, and involve investment risks, including possible loss of the principal amount invested. 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 RA0150.001.0895 ["Recycled" logo] Printed on Recycled Paper. [COVER] 1995 Annual Report Centennial Money Market Trust June 30, 1995 -----END PRIVACY-ENHANCED MESSAGE-----