Top Ten Common Stock Holdings | ||||
Advanced Micro Devices, Inc. |
6.4 | % | ||
Nektar Therapeutics |
6.3 | |||
Fairchild Semiconductor International, Inc., Cl. A |
2.6 | |||
Nokia OYJ |
2.5 | |||
Cepheid, Inc. |
2.5 | |||
Fast Retailing Co. Ltd. |
2.4 | |||
Electrocomponents plc |
2.4 | |||
Sothebys |
2.3 | |||
Coherent, Inc. |
2.2 | |||
Google, Inc., Cl. A |
2.2 |
Top Ten Geographical Holdings | ||||
United States |
53.2 | % | ||
United Kingdom |
16.1 | |||
Japan |
7.3 | |||
Germany |
5.2 | |||
France |
3.9 | |||
Finland |
3.3 | |||
Switzerland |
3.2 | |||
Hong Kong |
2.0 | |||
Brazil |
1.8 | |||
Denmark |
1.6 |
Beginning | Ending | Expenses | ||||||||||
Account | Account | Paid During | ||||||||||
Value | Value | 6 Months Ended | ||||||||||
October 1, 2011 | March 30, 2012 | March 30, 20121,2 | ||||||||||
Actual |
||||||||||||
Class A |
$ | 1,000.00 | $ | 1,217.50 | $ | 6.74 | ||||||
Class B |
1,000.00 | 1,212.50 | 11.66 | |||||||||
Class C |
1,000.00 | 1,213.00 | 10.89 | |||||||||
Class I |
1,000.00 | 1,075.80 | 1.34 | |||||||||
Class N |
1,000.00 | 1,215.60 | 8.57 | |||||||||
Class Y |
1,000.00 | 1,219.30 | 5.14 | |||||||||
Hypothetical | ||||||||||||
(5% return before expenses) | ||||||||||||
Class A |
1,000.00 | 1,018.80 | 6.14 | |||||||||
Class B |
1,000.00 | 1,014.37 | 10.62 | |||||||||
Class C |
1,000.00 | 1,015.07 | 9.92 | |||||||||
Class I |
1,000.00 | 1,021.18 | 3.73 | |||||||||
Class N |
1,000.00 | 1,017.16 | 7.80 | |||||||||
Class Y |
1,000.00 | 1,020.24 | 4.68 |
1. | Actual expenses paid for Classes A, B, C, N and Y are equal to the Funds annualized expense ratio for that class, multiplied by the average account value over the period, multiplied by 182/366 (to reflect the one-half year period). Actual expenses paid for Class I are equal to the Funds annualized expense ratio for that class, multiplied by the average account value over the period, multiplied by 64/366 to reflect the period from January 27, 2012 (inception of offering) to March 30, 2012. | |
2. | Hypothetical expenses paid for all classes are equal to the Funds annualized expense ratio for that class, multiplied by the average account value over the period, multiplied by 182/366 (to reflect the one-half year period). |
Class | Expense Ratios | |
Class A |
1.22% | |
Class B |
2.11 | |
Class C |
1.97 | |
Class I |
0.74 | |
Class N |
1.55 | |
Class Y |
0.93 |
Shares | Value | |||||||
Common Stocks97.1% |
||||||||
Consumer Discretionary22.7% |
||||||||
Automobiles0.8% |
||||||||
Porsche Automobil
Holding, Preference |
400,000 | $ | 23,606,610 | |||||
Distributors1.9% |
||||||||
Li & Fung Ltd. |
24,000,000 | 54,824,857 | ||||||
Diversified Consumer Services2.3% |
||||||||
Sothebys |
1,700,000 | 66,878,000 | ||||||
Hotels, Restaurants & Leisure4.5% |
||||||||
Chipotle Mexican
Grill, Inc., Cl. A1 |
100,000 | 41,800,000 | ||||||
InterContinental
Hotels Group plc |
2,000,000 | 46,481,126 | ||||||
JD Wetherspoon plc |
6,000,000 | 39,481,766 | ||||||
127,762,892 | ||||||||
Household Durables1.4% |
||||||||
iRobot Corp.1,2 |
1,500,000 | 40,890,000 | ||||||
Internet & Catalog Retail4.4% |
||||||||
ASOS plc1 |
2,000,000 | 57,005,758 | ||||||
Rakuten, Inc. |
40,000 | 42,061,598 | ||||||
Start Today Co. Ltd. |
1,500,000 | 27,776,391 | ||||||
126,843,747 | ||||||||
Media1.0% |
||||||||
Wiley (John) & Sons,
Inc., Cl. A |
600,000 | 28,554,000 | ||||||
Specialty Retail5.9% |
||||||||
Dufry Group1 |
160,000 | 20,915,033 | ||||||
Fast Retailing Co. Ltd. |
300,000 | 68,807,897 | ||||||
SuperGroup plc1 |
1,100,000 | 10,838,132 | ||||||
Urban
Outfitters, Inc.1 |
2,000,000 | 58,220,000 | ||||||
USS Co. Ltd. |
100,000 | 10,194,463 | ||||||
168,975,525 | ||||||||
Textiles, Apparel & Luxury Goods0.5% |
||||||||
Bijou Brigitte Modische
Accessoires AG |
100,000 | 9,909,441 | ||||||
Mulberry Group plc1 |
100,000 | 3,205,374 | ||||||
13,114,815 | ||||||||
Consumer Staples6.6% |
||||||||
Food Products2.0% |
||||||||
Nestle SA |
900,000 | 56,630,110 | ||||||
Household Products1.9% |
||||||||
Procter & Gamble
Co. (The) |
400,000 | 26,884,000 | ||||||
Reckitt Benckiser
Group plc |
500,000 | 28,254,958 | ||||||
55,138,958 | ||||||||
Personal Products2.7% |
||||||||
Dr. Ci: Labo Co. Ltd. |
6,000 | 27,691,192 | ||||||
Hypermarcas SA |
7,000,000 | 49,428,908 | ||||||
77,120,100 | ||||||||
Financials10.1% |
||||||||
Capital Markets2.8% |
||||||||
Bank of New York
Mellon Corp. |
1,500,000 | 36,195,000 | ||||||
IP Group plc1,2 |
19,741,000 | 42,311,164 | ||||||
78,506,164 | ||||||||
Commercial Banks2.7% |
||||||||
Barclays plc |
7,000,000 | 26,436,241 | ||||||
Lloyds Banking
Group plc1 |
50,000,000 | 26,875,400 | ||||||
SunTrust Banks, Inc. |
1,000,000 | 24,170,000 | ||||||
77,481,641 | ||||||||
Diversified Financial Services4.6% |
||||||||
Bank of America
Corp. |
5,000,000 | 47,850,000 | ||||||
Citigroup, Inc. |
1,400,000 | 51,170,000 | ||||||
ING Groep NV1 |
4,000,000 | 33,326,665 | ||||||
132,346,665 | ||||||||
Health Care18.9% |
||||||||
Biotechnology6.3% |
||||||||
Abcam plc |
1,000,000 | 5,582,214 | ||||||
Affymax, Inc.1,2 |
2,000,000 | 23,480,000 | ||||||
Cepheid, Inc.1 |
1,700,000 | 71,111,000 | ||||||
Rigel Pharmaceuticals,
Inc.1,2 |
5,000,000 | 40,250,000 |
Shares | Value | |||||||
Biotechnology Continued |
||||||||
Seattle Genetics, Inc.1 |
2,000,000 | $ | 40,760,000 | |||||
181,183,214 | ||||||||
Health Care Equipment & Supplies3.0% |
||||||||
Carl Zeiss
Meditec AG |
2,000,000 | 48,546,926 | ||||||
Intuitive Surgical, Inc.1 |
70,000 | 37,922,500 | ||||||
86,469,426 | ||||||||
Health Care Technology1.0% |
||||||||
M3, Inc. |
8,000 | 29,127,510 | ||||||
Life Sciences Tools & Services1.8% |
||||||||
Bruker Corp.1 |
1,700,000 | 26,027,000 | ||||||
MorphoSys AG1 |
1,000,000 | 25,653,850 | ||||||
51,680,850 | ||||||||
Pharmaceuticals6.8% |
||||||||
MAP Pharmaceuticals,
Inc.1 |
1,000,000 | 14,360,000 | ||||||
Nektar Therapeutics1,2 |
22,700,000 | 179,784,000 | ||||||
194,144,000 | ||||||||
Industrials7.8% |
||||||||
Aerospace & Defense1.8% |
||||||||
Boeing Co. (The) |
700,000 | 52,059,000 | ||||||
Construction & Engineering1.3% |
||||||||
Bilfinger Berger SE |
400,000 | 37,573,187 | ||||||
Electrical Equipment1.7% |
||||||||
Nexans SA |
400,000 | 26,999,560 | ||||||
Vacon OYJ |
400,000 | 21,339,308 | ||||||
48,338,868 | ||||||||
Machinery0.9% |
||||||||
Rotork plc |
400,000 | 13,109,405 | ||||||
Spirax-Sarco
Engineering plc |
400,000 | 13,365,323 | ||||||
26,474,728 | ||||||||
Marine0.5% |
||||||||
Kuehne & Nagel
International AG |
100,000 | 13,526,088 | ||||||
Professional Services1.2% |
||||||||
Acacia Research
Corp.1 |
800,000 | 33,392,000 | ||||||
Trading Companies & Distributors0.4% |
||||||||
Aircastle Ltd. |
1,000,000 | 12,240,000 | ||||||
Information Technology24.3% |
||||||||
Communications Equipment2.5% |
||||||||
Nokia OYJ |
13,000,000 | 71,141,169 | ||||||
Electronic Equipment & Instruments4.6% |
||||||||
Coherent, Inc.1 |
1,100,000 | 64,163,000 | ||||||
Electrocomponents
plc |
17,000,000 | 67,380,038 | ||||||
131,543,038 | ||||||||
Internet Software & Services3.5% |
||||||||
Akamai Technologies,
Inc.1 |
1,000,000 | 36,700,000 | ||||||
Google, Inc., Cl. A1 |
100,000 | 64,124,000 | ||||||
100,824,000 | ||||||||
IT Services1.0% |
||||||||
Visa, Inc., Cl. A |
250,000 | 29,500,000 | ||||||
Semiconductors & Semiconductor Equipment10.8% |
||||||||
Advanced
Micro Devices, Inc.1 |
23,000,000 | 184,460,000 | ||||||
Cree, Inc.1 |
1,600,000 | 50,608,000 | ||||||
Fairchild
Semiconductor
International, Inc.,
Cl. A1 |
4,998,500 | 73,477,950 | ||||||
308,545,950 | ||||||||
Software1.9% |
||||||||
Dassault Systemes SA |
300,000 | 27,603,729 | ||||||
Parametric Technology
Corp.1 |
1,000,000 | 27,940,000 | ||||||
55,543,729 | ||||||||
Materials3.6% |
||||||||
Chemicals2.8% |
||||||||
Croda International plc |
500,000 | 16,842,610 | ||||||
Novozymes AS, B Shares,
Unsponsored ADR |
1,500,000 | 43,686,710 | ||||||
Victrex plc |
900,000 | 19,433,784 | ||||||
79,963,104 |
Shares | Value | |||||||
Metals & Mining0.8% |
||||||||
Umicore |
400,000 | $ | 22,035,503 | |||||
Telecommunication Services1.2% |
||||||||
Wireless Telecommunication Services1.2% |
||||||||
Vodafone Group plc |
13,000,000 | 35,806,142 | ||||||
Utilities1.9% |
||||||||
Multi-Utilities1.9% |
||||||||
Suez Environnement
SA |
3,500,000 | 53,681,698 | ||||||
Total Common Stocks (Cost $2,388,413,516) |
2,783,467,288 | |||||||
Investment Company0.6% |
||||||||
Oppenheimer
Institutional Money Market Fund, Cl. E, 0.22%2,3 (Cost $17,227,785) |
17,227,785 | 17,227,785 | ||||||
Total Investments,
at Value (Cost $2,405,641,301) |
97.7 | % | 2,800,695,073 | |||||
Other
Assets |
||||||||
Net of Liabilities |
2.3 | 67,084,363 | ||||||
Net Assets |
100.0 | % | $ | 2,867,779,436 | ||||
* | March 30, 2012 represents the last business day of the Funds semiannual period. See Note 1 of the accompanying Notes. | |
1. | Non-income producing security. | |
2. | Is or was an affiliate, as defined in the Investment Company Act of 1940, at or during the period ended March 30, 2012, by virtue of the Fund owning at least 5% of the voting securities of the issuer or as a result of the Fund and the issuer having the same investment adviser. Transactions during the period in which the issuer was an affiliate are as follows: |
Shares | Gross | Gross | Shares | |||||||||||||||||
September 30, 2011 | Additions | Reductions | March 30, 2012 | |||||||||||||||||
Affymax, Inc. |
| 2,000,000 | | 2,000,000 | ||||||||||||||||
IP Group plc |
19,741,000 | | | 19,741,000 | ||||||||||||||||
iRobot Corp. |
1,500,000 | | | 1,500,000 | ||||||||||||||||
Nektar Therapeutics |
22,700,000 | | | 22,700,000 | ||||||||||||||||
Oppenheimer Institutional Money
Market Fund, Cl. E |
72,829,129 | 471,906,006 | 527,507,350 | 17,227,785 | ||||||||||||||||
Rigel Pharmaceuticals, Inc. |
5,000,000 | | | 5,000,000 | ||||||||||||||||
Telik, Inc. |
10,463,730 | | 10,463,730 | | ||||||||||||||||
Thorntons plc |
6,874,640 | | 6,874,640 | | ||||||||||||||||
Realized | ||||||||||||||||||||
Value | Income | Loss | ||||||||||||||||||
Affymax, Inc. |
$ | 23,480,000 | $ | | $ | | ||||||||||||||
IP Group plc |
42,311,164 | | | |||||||||||||||||
iRobot Corp. |
40,890,000 | | | |||||||||||||||||
Nektar Therapeutics |
179,784,000 | | | |||||||||||||||||
Oppenheimer Institutional Money
Market Fund, Cl. E |
17,227,785 | 68,540 | | |||||||||||||||||
Rigel Pharmaceuticals, Inc. |
40,250,000 | | | |||||||||||||||||
Telik, Inc. |
| | 164,697,429 | |||||||||||||||||
Thorntons plc |
| 27,449 | 17,311,815 | |||||||||||||||||
$ | 343,942,949 | $ | 95,989 | $ | 182,009,244 | |||||||||||||||
3. | Rate shown is the 7-day yield as of March 30, 2012. |
Geographic Holdings | Value | Percent | ||||||
United States |
$ | 1,489,957,235 | 53.2 | % | ||||
United Kingdom |
452,409,435 | 16.1 | ||||||
Japan |
205,659,051 | 7.3 | ||||||
Germany |
145,290,014 | 5.2 | ||||||
France |
108,284,987 | 3.9 | ||||||
Finland |
92,480,477 | 3.3 | ||||||
Switzerland |
91,071,231 | 3.2 | ||||||
Hong Kong |
54,824,857 | 2.0 | ||||||
Brazil |
49,428,908 | 1.8 | ||||||
Denmark |
43,686,710 | 1.6 | ||||||
The Netherlands |
33,326,665 | 1.2 | ||||||
Belgium |
22,035,503 | 0.8 | ||||||
Bermuda |
12,240,000 | 0.4 | ||||||
Total |
$ | 2,800,695,073 | 100.0 | % | ||||
Contract | ||||||||||||||||||||
Counterparty/Contract | Amount | Expiration | Unrealized | |||||||||||||||||
Description | Buy/Sell | (000s) | Date | Value | Depreciation | |||||||||||||||
JP Morgan Chase |
||||||||||||||||||||
British Pound Sterling (GBP) |
Sell | 16,981 | GBP | 4/3/12 | $ | 27,160,311 | $ | 112,252 | ||||||||||||
Nomura Securities: |
||||||||||||||||||||
Euro (EUR) |
Sell | 16,445 | EUR | 4/2/12 | 21,932,167 | 80,361 | ||||||||||||||
Japanese Yen (JPY) |
Sell | 915,223 | JPY | 4/2/12 | 11,057,429 | 39,601 | ||||||||||||||
119,962 | ||||||||||||||||||||
RBS Greenwich Capital |
||||||||||||||||||||
Euro (EUR) |
Sell | 23,886 | EUR | 4/3/12 | 31,857,423 | 12,105 | ||||||||||||||
Citigroup |
||||||||||||||||||||
British Pound Sterling (GBP) |
Sell | 8,562 | GBP | 4/4/12 | 13,694,549 | 2,117 | ||||||||||||||
State Street |
||||||||||||||||||||
British Pound Sterling (GBP) |
Sell | 2,127 | GBP | 4/2/12 | 3,402,434 | 25,780 | ||||||||||||||
Total unrealized depreciation |
$ | 272,216 | ||||||||||||||||||
March 30, 20121 | ||||
Assets |
||||
Investments, at valuesee accompanying statement of investments: |
||||
Unaffiliated companies (cost $1,956,497,039) |
$ | 2,456,752,124 | ||
Affiliated companies (cost $449,144,262) |
343,942,949 | |||
2,800,695,073 | ||||
Cash |
1,028,901 | |||
Cashforeign currencies (cost $112,809) |
112,809 | |||
Receivables and other assets: |
||||
Investments sold |
117,575,101 | |||
Shares of beneficial interest sold |
6,579,604 | |||
Dividends |
3,464,696 | |||
Other |
326,350 | |||
Total assets |
2,929,782,534 | |||
Liabilities |
||||
Unrealized depreciation on foreign currency exchange contracts |
272,216 | |||
Payables and other liabilities: |
||||
Investments purchased |
54,349,923 | |||
Shares of beneficial interest redeemed |
5,404,593 | |||
Trustees compensation |
667,894 | |||
Distribution and service plan fees |
556,602 | |||
Transfer and shareholder servicing agent fees |
499,763 | |||
Shareholder communications |
211,328 | |||
Other |
40,779 | |||
Total liabilities |
62,003,098 | |||
Net Assets |
$ | 2,867,779,436 | ||
Composition of Net Assets |
||||
Par value of shares of beneficial interest |
$ | 91,754 | ||
Additional paid-in capital |
2,978,168,785 | |||
Accumulated net investment loss |
(505,566 | ) | ||
Accumulated net realized loss on investments and foreign currency transactions |
(504,953,341 | ) | ||
Net unrealized appreciation on investments and translation of assets and
liabilities denominated in foreign currencies |
394,977,804 | |||
Net Assets |
$ | 2,867,779,436 | ||
Net Asset Value Per Share |
||||
Class A Shares: |
||||
Net asset value and redemption price per share (based on net assets of $2,024,260,280
and 63,805,313 shares of beneficial interest outstanding) |
$ | 31.73 | ||
Maximum offering price per share (net asset value plus sales charge of 5.75% of offering price) |
$ | 33.67 | ||
Class B Shares: |
||||
Net asset value, redemption price (excludes applicable contingent deferred sales charge)
and offering price per share (based on net assets of $115,907,054 and 3,966,986 shares
of beneficial interest outstanding) |
$ | 29.22 | ||
Class C Shares: |
||||
Net asset value, redemption price (excludes applicable contingent deferred sales charge)
and offering price per share (based on net assets of $382,059,520 and 13,054,592 shares
of beneficial interest outstanding) |
$ | 29.27 | ||
Class I Shares: |
||||
Net asset value, redemption price and offering price per share (based on net assets
of $10,759 and 337 shares of beneficial interest outstanding) |
$ | 31.94 | ||
Class N Shares: |
||||
Net asset value, redemption price (excludes applicable contingent deferred sales charge)
and offering price per share (based on net assets of $101,025,675 and 3,271,019 shares
of beneficial interest outstanding) |
$ | 30.89 | ||
Class Y Shares: |
||||
Net asset value, redemption price and offering price per share (based on net assets
of $244,516,148 and 7,656,095 shares of beneficial interest outstanding) |
$ | 31.94 |
1. | March 30, 2012 represents the last business day of the Funds semiannual period. See Note 1 of the accompanying Notes. |
For the Six Months Ended March 30, 20121 | ||||
Investment Income |
||||
Dividends: |
||||
Unaffiliated companies (net of foreign withholding taxes of $460,259) |
$ | 19,049,883 | ||
Affiliated companies |
95,989 | |||
Interest |
790 | |||
Total investment income |
19,146,662 | |||
Expenses |
||||
Management fees |
9,290,616 | |||
Distribution and service plan fees: |
||||
Class A |
2,253,821 | |||
Class B |
560,589 | |||
Class C |
1,748,202 | |||
Class N |
227,986 | |||
Transfer and shareholder servicing agent fees: |
||||
Class A |
2,145,729 | |||
Class B |
267,828 | |||
Class C |
411,964 | |||
Class I |
1 | |||
Class N |
146,869 | |||
Class Y |
199,878 | |||
Shareholder communications: |
||||
Class A |
98,395 | |||
Class B |
20,831 | |||
Class C |
20,658 | |||
Class N |
3,280 | |||
Class Y |
2,091 | |||
Custodian fees and expenses |
54,938 | |||
Trustees compensation |
35,666 | |||
Administration service fees |
750 | |||
Other |
82,438 | |||
Total expenses |
17,572,530 | |||
Less waivers and reimbursements of expenses |
(106,244 | ) | ||
Net expenses |
17,466,286 | |||
Net Investment Income |
1,680,376 |
Realized and Unrealized Gain (Loss) | ||||
Net realized gain (loss) on: |
||||
Investments from: |
||||
Unaffiliated companies |
$ | 138,892,832 | ||
Affiliated companies |
(182,009,244 | ) | ||
Foreign currency transactions |
4,360,768 | |||
Net realized loss |
(38,755,644 | ) | ||
Net change in unrealized appreciation/depreciation on: |
||||
Investments |
561,387,613 | |||
Translation of assets and liabilities denominated in foreign currencies |
(11,257,319 | ) | ||
Net change in unrealized appreciation/depreciation |
550,130,294 | |||
Net Increase in Net Assets Resulting from Operations |
$ | 513,055,026 | ||
1. | March 30, 2012 represents the last business day of the Funds semiannual period. See Note 1 of the accompanying Notes. |
Six Months | Year | |||||||
Ended | Ended | |||||||
March 30, 20121 | September 30, | |||||||
(Unaudited) | 2011 | |||||||
Operations |
||||||||
Net investment income |
$ | 1,680,376 | $ | 1,099,151 | ||||
Net realized gain (loss) |
(38,755,644 | ) | 322,142,022 | |||||
Net change in unrealized appreciation/depreciation |
550,130,294 | (450,661,263 | ) | |||||
Net increase (decrease) in net assets resulting from operations |
513,055,026 | (127,420,090 | ) | |||||
Dividends and/or Distributions to Shareholders |
||||||||
Dividends from net investment income: |
||||||||
Class A |
(9,776,841 | ) | (20,179,454 | ) | ||||
Class B |
| (147,338 | ) | |||||
Class C |
| (1,361,968 | ) | |||||
Class I |
| | ||||||
Class N |
(196,338 | ) | (696,066 | ) | ||||
Class Y |
(1,597,262 | ) | (2,062,195 | ) | ||||
(11,570,441 | ) | (24,447,021 | ) | |||||
Beneficial Interest Transactions |
||||||||
Net increase (decrease) in net assets resulting
from beneficial interest transactions: |
||||||||
Class A |
(54,947,905 | ) | (178,159,900 | ) | ||||
Class B |
(16,794,203 | ) | (41,245,987 | ) | ||||
Class C |
(13,878,164 | ) | (37,198,775 | ) | ||||
Class I |
10,000 | | ||||||
Class N |
(2,539,198 | ) | (2,523,233 | ) | ||||
Class Y |
27,038,560 | 39,827,702 | ||||||
(61,110,910 | ) | (219,300,193 | ) | |||||
Net Assets |
||||||||
Total increase (decrease) |
440,373,675 | (371,167,304 | ) | |||||
Beginning of period |
2,427,405,761 | 2,798,573,065 | ||||||
End of period (including accumulated net investment income (loss)
of $(505,566) and $9,384,499, respectively) |
$ | 2,867,779,436 | $ | 2,427,405,761 | ||||
1. | March 30, 2012 represents the last business day of the Funds semiannual period. See Note 1 of the accompanying Notes. |
Six Months | ||||||||||||||||||||||||
Ended | ||||||||||||||||||||||||
March 30, 20121 | Year Ended September 30, | |||||||||||||||||||||||
Class A | (Unaudited) | 2011 | 2010 | 2009 | 2008 | 2007 | ||||||||||||||||||
Per Share Operating Data |
||||||||||||||||||||||||
Net asset value, beginning of period |
$ | 26.21 | $ | 27.96 | $ | 25.01 | $ | 24.94 | $ | 40.97 | $ | 39.84 | ||||||||||||
Income (loss) from investment operations: |
||||||||||||||||||||||||
Net investment income (loss)2 |
.04 | 3 | .05 | (.03 | ) | (.03 | ) | (.06 | ) | .19 | ||||||||||||||
Net realized and unrealized gain (loss) |
5.63 | (1.52 | ) | 3.62 | 3.47 | (11.68 | ) | 6.16 | ||||||||||||||||
Total from investment operations |
5.67 | (1.47 | ) | 3.59 | 3.44 | (11.74 | ) | 6.35 | ||||||||||||||||
Dividends and/or distributions
to shareholders: |
||||||||||||||||||||||||
Dividends from net investment income |
(.15 | ) | (.28 | ) | (.64 | ) | (.15 | ) | (.14 | ) | (.12 | ) | ||||||||||||
Distributions from net realized gain |
| | | (3.22 | ) | (4.15 | ) | (5.10 | ) | |||||||||||||||
Total dividends and/or distributions
to shareholders |
(.15 | ) | (.28 | ) | (.64 | ) | (3.37 | ) | (4.29 | ) | (5.22 | ) | ||||||||||||
Net asset value, end of period |
$ | 31.73 | $ | 26.21 | $ | 27.96 | $ | 25.01 | $ | 24.94 | $ | 40.97 | ||||||||||||
Total Return, at Net Asset Value4 |
21.75 | % | (5.36 | )% | 14.59 | % | 23.39 | % | (31.18 | )% | 17.35 | % | ||||||||||||
Ratios/Supplemental Data |
||||||||||||||||||||||||
Net assets, end of period (in thousands) |
$ | 2,024,260 | $ | 1,723,787 | $ | 2,006,626 | $ | 1,898,289 | $ | 1,841,612 | $ | 3,223,161 | ||||||||||||
Average net assets (in thousands) |
$ | 1,840,954 | $ | 2,060,976 | $ | 1,990,603 | $ | 1,416,123 | $ | 2,528,206 | $ | 3,149,584 | ||||||||||||
Ratios to average net assets:5 |
||||||||||||||||||||||||
Net investment income (loss) |
0.26 | %3 | 0.18 | % | (0.11 | )% | (0.16 | )% | (0.20 | )% | 0.48 | % | ||||||||||||
Total expenses6 |
1.22 | % | 1.20 | % | 1.22 | % | 1.35 | % | 1.18 | % | 1.13 | % | ||||||||||||
Expenses after payments, waivers and/or
reimbursements and reduction
to custodian expenses |
1.22 | % | 1.20 | % | 1.21 | % | 1.33 | % | 1.18 | % | 1.13 | % | ||||||||||||
Portfolio turnover rate |
34 | % | 41 | % | 65 | % | 99 | % | 41 | % | 39 | % |
1. | March 30, 2012 represents the last business day of the Funds semiannual period. See Note 1 of the accompanying Notes. | |
2. | Per share amounts calculated based on the average shares outstanding during the period. | |
3. | Net investment income per share and the net investment income ratio include $0.08 and 0.59%, respectively, resulting from a special dividend from Cairn Energy plc in February 2012. | |
4. | Assumes an initial investment on the business day before the first day of the fiscal period, with all dividends and distributions 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. Sales charges are not reflected in the total returns. Total returns are not annualized for periods less than one full year. Returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. | |
5. | Annualized for periods less than one full year. | |
6. | Total expenses including indirect expenses from affiliated fund were as follows: |
Six Months Ended March 30, 2012 |
1.22 | % | ||
Year Ended September 30, 2011 |
1.20 | % | ||
Year Ended September 30, 2010 |
1.23 | % | ||
Year Ended September 30, 2009 |
1.35 | % | ||
Year Ended September 30, 2008 |
1.18 | % | ||
Year Ended September 30, 2007 |
1.13 | % |
Six Months | ||||||||||||||||||||||||
Ended | ||||||||||||||||||||||||
March 30, 20121 | Year Ended September 30, | |||||||||||||||||||||||
Class B | (Unaudited) | 2011 | 2010 | 2009 | 2008 | 2007 | ||||||||||||||||||
Per Share Operating Data |
||||||||||||||||||||||||
Net asset value, beginning of period |
$ | 24.10 | $ | 25.73 | $ | 23.11 | $ | 23.34 | $ | 38.77 | $ | 38.12 | ||||||||||||
Income (loss) from investment operations: |
||||||||||||||||||||||||
Net investment loss2 |
(.09 | )3 | (.20 | ) | (.25 | ) | (.17 | ) | (.31 | ) | (.09 | ) | ||||||||||||
Net realized and unrealized gain (loss) |
5.21 | (1.40 | ) | 3.34 | 3.16 | (10.97 | ) | 5.84 | ||||||||||||||||
Total from investment operations |
5.12 | (1.60 | ) | 3.09 | 2.99 | (11.28 | ) | 5.75 | ||||||||||||||||
Dividends and/or distributions
to shareholders: |
||||||||||||||||||||||||
Dividends from net investment income |
| (.03 | ) | (.47 | ) | | | | ||||||||||||||||
Distributions from net realized gain |
| | | (3.22 | ) | (4.15 | ) | (5.10 | ) | |||||||||||||||
Total dividends and/or distributions
to shareholders |
| (.03 | ) | (.47 | ) | (3.22 | ) | (4.15 | ) | (5.10 | ) | |||||||||||||
Net asset value, end of period |
$ | 29.22 | $ | 24.10 | $ | 25.73 | $ | 23.11 | $ | 23.34 | $ | 38.77 | ||||||||||||
Total Return, at Net Asset Value4 |
21.25 | % | (6.25 | )% | 13.54 | % | 22.46 | % | (31.74 | )% | 16.45 | % | ||||||||||||
Ratios/Supplemental Data |
||||||||||||||||||||||||
Net assets, end of period (in thousands) |
$ | 115,907 | $ | 111,026 | $ | 156,850 | $ | 182,023 | $ | 207,785 | $ | 484,496 | ||||||||||||
Average net assets (in thousands) |
$ | 112,367 | $ | 145,805 | $ | 169,468 | $ | 146,578 | $ | 327,166 | $ | 551,877 | ||||||||||||
Ratios to average net assets:5 | ||||||||||||||||||||||||
Net investment loss |
(0.65 | )%3 | (0.73 | )% | (1.01 | )% | (0.97 | )% | (1.03 | )% | (0.24 | )% | ||||||||||||
Total expenses6 |
2.24 | % | 2.21 | % | 2.23 | % | 2.36 | % | 1.98 | % | 1.92 | % | ||||||||||||
Expenses after payments, waivers and/or
reimbursements and reduction
to custodian expenses |
2.11 | % | 2.12 | % | 2.11 | % | 2.13 | % | 1.98 | % | 1.92 | % | ||||||||||||
Portfolio turnover rate |
34 | % | 41 | % | 65 | % | 99 | % | 41 | % | 39 | % |
1. | March 30, 2012 represents the last business day of the Funds semiannual period. See Note 1 of the accompanying Notes. | |
2. | Per share amounts calculated based on the average shares outstanding during the period. | |
3. | Net investment income per share and the net investment income ratio include $0.08 and 0.59%, respectively, resulting from a special dividend from Cairn Energy plc in February 2012. | |
4. | Assumes an initial investment on the business day before the first day of the fiscal period, with all dividends and distributions 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. Sales charges are not reflected in the total returns. Total returns are not annualized for periods less than one full year. Returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. | |
5. | Annualized for periods less than one full year. | |
6. | Total expenses including indirect expenses from affiliated fund were as follows: |
Six Months Ended March 30, 2012 |
2.24 | % | ||
Year Ended September 30, 2011 |
2.21 | % | ||
Year Ended September 30, 2010 |
2.24 | % | ||
Year Ended September 30, 2009 |
2.36 | % | ||
Year Ended September 30, 2008 |
1.98 | % | ||
Year Ended September 30, 2007 |
1.92 | % |
Six Months | ||||||||||||||||||||||||
Ended | ||||||||||||||||||||||||
March 30, 20121 | Year Ended September 30, | |||||||||||||||||||||||
Class C | (Unaudited) | 2011 | 2010 | 2009 | 2008 | 2007 | ||||||||||||||||||
Per Share Operating Data |
||||||||||||||||||||||||
Net asset value, beginning of period |
$ | 24.13 | $ | 25.78 | $ | 23.15 | $ | 23.37 | $ | 38.79 | $ | 38.13 | ||||||||||||
Income (loss) from investment operations: |
||||||||||||||||||||||||
Net investment loss2 |
(.07 | )3 | (.16 | ) | (.21 | ) | (.16 | ) | (.28 | ) | (.10 | ) | ||||||||||||
Net realized and unrealized gain (loss) |
5.21 | (1.40 | ) | 3.34 | 3.16 | (10.99 | ) | 5.86 | ||||||||||||||||
Total from investment operations |
5.14 | (1.56 | ) | 3.13 | 3.00 | (11.27 | ) | 5.76 | ||||||||||||||||
Dividends and/or distributions
to shareholders: |
||||||||||||||||||||||||
Dividends from net investment income |
| (.09 | ) | (.50 | ) | | | | ||||||||||||||||
Distributions from net realized gain |
| | | (3.22 | ) | (4.15 | ) | (5.10 | ) | |||||||||||||||
Total dividends and/or distributions
to shareholders |
| (.09 | ) | (.50 | ) | (3.22 | ) | (4.15 | ) | (5.10 | ) | |||||||||||||
Net asset value, end of period |
$ | 29.27 | $ | 24.13 | $ | 25.78 | $ | 23.15 | $ | 23.37 | $ | 38.79 | ||||||||||||
Total Return, at Net Asset Value4 |
21.30 | % | (6.08 | )% | 13.71 | % | 22.48 | % | (31.69 | )% | 16.48 | % | ||||||||||||
Ratios/Supplemental Data |
||||||||||||||||||||||||
Net assets, end of period (in thousands) |
$ | 382,059 | $ | 327,817 | $ | 385,526 | $ | 366,716 | $ | 373,401 | $ | 672,410 | ||||||||||||
Average net assets (in thousands) |
$ | 350,474 | $ | 394,340 | $ | 382,065 | $ | 281,756 | $ | 523,626 | $ | 664,952 | ||||||||||||
Ratios to average net assets:5 |
||||||||||||||||||||||||
Net investment loss |
(0.50 | )%3 | (0.58 | )% | (0.87 | )% | (0.92 | )% | (0.96 | )% | (0.26 | )% | ||||||||||||
Total expenses6 |
1.97 | % | 1.96 | % | 1.98 | % | 2.11 | % | 1.93 | % | 1.89 | % | ||||||||||||
Expenses after payments, waivers and/or
reimbursements and reduction
to custodian expenses |
1.97 | % | 1.96 | % | 1.97 | % | 2.09 | % | 1.93 | % | 1.89 | % | ||||||||||||
Portfolio turnover rate |
34 | % | 41 | % | 65 | % | 99 | % | 41 | % | 39 | % |
1. | March 30, 2012 represents the last business day of the Funds semiannual period. See Note 1 of the accompanying Notes. | |
2. | Per share amounts calculated based on the average shares outstanding during the period. | |
3. | Net investment income per share and the net investment income ratio include $0.08 and 0.59%, respectively, resulting from a special dividend from Cairn Energy plc in February 2012. | |
4. | Assumes an initial investment on the business day before the first day of the fiscal period, with all dividends and distributions 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. Sales charges are not reflected in the total returns. Total returns are not annualized for periods less than one full year. Returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. | |
5. | Annualized for periods less than one full year. | |
6. | Total expenses including indirect expenses from affiliated fund were as follows: |
Six Months Ended March 30, 2012 |
1.97 | % | ||
Year Ended September 30, 2011 |
1.96 | % | ||
Year Ended September 30, 2010 |
1.99 | % | ||
Year Ended September 30, 2009 |
2.11 | % | ||
Year Ended September 30, 2008 |
1.93 | % | ||
Year Ended September 30, 2007 |
1.89 | % |
Period Ended | |||||
March 30, 20121,2 | |||||
Class I | (Unaudited) | ||||
Per Share Operating Data |
|||||
Net asset value, beginning of period |
$ | 29.69 | |||
Income (loss) from investment operations: |
|||||
Net investment income3 |
.10 | 4 | |||
Net realized and unrealized gain |
2.15 | ||||
Total from investment operations |
2.25 | ||||
Dividends and/or distributions to shareholders: |
|||||
Dividends from net investment income |
| ||||
Distributions from net realized gain |
| ||||
Total dividends and/or distributions to shareholders |
| ||||
Net asset value, end of period |
$ | 31.94 | |||
Total Return, at Net Asset Value5 |
7.58 | % | |||
Ratios/Supplemental Data |
|||||
Net assets, end of period (in thousands) |
$ | 11 | |||
Average net assets (in thousands) |
$ | 10 | |||
Ratios to average net assets:6 |
|||||
Net investment income |
1.95 | %4 | |||
Total expenses7 |
0.74 | % | |||
Expenses after payments, waivers and/or
reimbursements and reduction to custodian expenses |
0.74 | % | |||
Portfolio turnover rate |
34 | % |
1. | March 30, 2012 represents the last business day of the Funds semiannual period. See Note 1 of the accompanying Notes. | |
2. | For the period from January 27, 2012 (inception of offering) to March 30, 2012. | |
3. | Per share amounts calculated based on the average shares outstanding during the period. | |
4. | Net investment income per share and the net investment income ratio include $0.08 and 0.59%, respectively, resulting from a special dividend from Cairn Energy plc in February 2012. | |
5. | Assumes an initial investment on the business day before the first day of the fiscal period, with all dividends and distributions 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. Sales charges are not reflected in the total returns. Total returns are not annualized for periods less than one full year. Returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. | |
6. | Annualized for periods less than one full year. | |
7. | Total expenses including indirect expenses from affiliated fund were as follows: |
Period Ended March 30, 2012 |
0.74 | % |
Six Months | ||||||||||||||||||||||||
Ended | ||||||||||||||||||||||||
March 30, 20121 | Year Ended September 30, | |||||||||||||||||||||||
Class N | (Unaudited) | 2011 | 2010 | 2009 | 2008 | 2007 | ||||||||||||||||||
Per Share Operating Data |
||||||||||||||||||||||||
Net asset value, beginning of period |
$ | 25.47 | $ | 27.19 | $ | 24.37 | $ | 24.34 | $ | 40.08 | $ | 39.10 | ||||||||||||
Income (loss) from investment operations: |
||||||||||||||||||||||||
Net investment income (loss)2 |
(.01 | )3 | (.04 | ) | (.12 | ) | (.07 | ) | (.18 | ) | .03 | |||||||||||||
Net realized and unrealized gain (loss) |
5.49 | (1.48 | ) | 3.52 | 3.38 | (11.41 | ) | 6.05 | ||||||||||||||||
Total from investment operations |
5.48 | (1.52 | ) | 3.40 | 3.31 | (11.59 | ) | 6.08 | ||||||||||||||||
Dividends and/or distributions
to shareholders: |
||||||||||||||||||||||||
Dividends from net investment income |
(.06 | ) | (.20 | ) | (.58 | ) | (.06 | ) | | | 4 | |||||||||||||
Distributions from net realized gain |
| | | (3.22 | ) | (4.15 | ) | (5.10 | ) | |||||||||||||||
Total dividends and/or distributions
to shareholders |
(.06 | ) | (.20 | ) | (.58 | ) | (3.28 | ) | (4.15 | ) | (5.10 | ) | ||||||||||||
Net asset value, end of period |
$ | 30.89 | $ | 25.47 | $ | 27.19 | $ | 24.37 | $ | 24.34 | $ | 40.08 | ||||||||||||
Total Return, at Net Asset Value5 |
21.56 | % | (5.68 | )% | 14.16 | % | 23.11 | % | (31.45 | )% | 16.93 | % | ||||||||||||
Ratios/Supplemental Data |
||||||||||||||||||||||||
Net assets, end of period (in thousands) |
$ | 101,026 | $ | 85,798 | $ | 93,901 | $ | 83,684 | $ | 86,144 | $ | 137,761 | ||||||||||||
Average net assets (in thousands) |
$ | 91,570 | $ | 100,460 | $ | 90,116 | $ | 65,521 | $ | 112,218 | $ | 127,541 | ||||||||||||
Ratios to average net assets:6 |
||||||||||||||||||||||||
Net investment income (loss) |
(0.08 | )%3 | (0.15 | )% | (0.46 | )% | (0.41 | )% | (0.58 | )% | 0.09 | % | ||||||||||||
Total expenses7 |
1.55 | % | 1.54 | % | 1.59 | % | 1.81 | % | 1.61 | % | 1.50 | % | ||||||||||||
Expenses after payments, waivers and/or
reimbursements and reduction
to custodian expenses |
1.55 | % | 1.53 | % | 1.57 | % | 1.59 | % | 1.57 | % | 1.50 | % | ||||||||||||
Portfolio turnover rate |
34 | % | 41 | % | 65 | % | 99 | % | 41 | % | 39 | % |
1. | March 30, 2012 represents the last business day of the Funds semiannual period. See Note 1 of the accompanying Notes. | |
2. | Per share amounts calculated based on the average shares outstanding during the period. | |
3. | Net investment income per share and the net investment income ratio include $0.08 and 0.59%, respectively, resulting from a special dividend from Cairn Energy plc in February 2012. | |
4. | Less than $0.005 per share. | |
5. | Assumes an initial investment on the business day before the first day of the fiscal period, with all dividends and distributions 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. Sales charges are not reflected in the total returns. Total returns are not annualized for periods less than one full year. Returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. | |
6. | Annualized for periods less than one full year. | |
7. | Total expenses including indirect expenses from affiliated fund were as follows: |
Six Months Ended March 30, 2012 |
1.55 | % | ||
Year Ended September 30, 2011 |
1.54 | % | ||
Year Ended September 30, 2010 |
1.60 | % | ||
Year Ended September 30, 2009 |
1.81 | % | ||
Year Ended September 30, 2008 |
1.61 | % | ||
Year Ended September 30, 2007 |
1.50 | % |
Six Months | |||||||||||||||||||||||||
Ended | |||||||||||||||||||||||||
March 30, 20121 | Year Ended September 30, | ||||||||||||||||||||||||
Class Y | (Unaudited) | 2011 | 2010 | 2009 | 2008 | 2007 | |||||||||||||||||||
Per Share Operating Data |
|||||||||||||||||||||||||
Net asset value, beginning of period |
$ | 26.43 | $ | 28.20 | $ | 25.21 | $ | 25.17 | $ | 41.32 | $ | 40.14 | |||||||||||||
Income (loss) from investment operations: |
|||||||||||||||||||||||||
Net investment income2 |
.08 | 3 | .14 | .07 | .04 | .07 | .29 | ||||||||||||||||||
Net realized and unrealized gain (loss) |
5.67 | (1.54 | ) | 3.64 | 3.46 | (11.78 | ) | 6.25 | |||||||||||||||||
Total from investment operations |
5.75 | (1.40 | ) | 3.71 | 3.50 | (11.71 | ) | 6.54 | |||||||||||||||||
Dividends and/or distributions
to shareholders: |
|||||||||||||||||||||||||
Dividends from net investment income |
(.24 | ) | (.37 | ) | (.72 | ) | (.24 | ) | (.29 | ) | (.26 | ) | |||||||||||||
Distributions from net realized gain |
| | | (3.22 | ) | (4.15 | ) | (5.10 | ) | ||||||||||||||||
Total dividends and/or distributions
to shareholders |
(.24 | ) | (.37 | ) | (.72 | ) | (3.46 | ) | (4.44 | ) | (5.36 | ) | |||||||||||||
Net asset value, end of period |
$ | 31.94 | $ | 26.43 | $ | 28.20 | $ | 25.21 | $ | 25.17 | $ | 41.32 | |||||||||||||
Total Return, at Net Asset Value4 |
21.93 | % | (5.11 | )% | 14.98 | % | 23.75 | % | (30.91 | )% | 17.79 | % | |||||||||||||
Ratios/Supplemental Data |
|||||||||||||||||||||||||
Net assets, end of period (in thousands) |
$ | 244,516 | $ | 178,978 | $ | 155,670 | $ | 123,079 | $ | 151,866 | $ | 256,432 | |||||||||||||
Average net assets (in thousands) |
$ | 201,309 | $ | 196,576 | $ | 158,109 | $ | 82,817 | $ | 231,276 | $ | 194,199 | |||||||||||||
Ratios to average net assets:5 |
|||||||||||||||||||||||||
Net investment income |
0.56 | %3 | 0.48 | % | 0.27 | % | 0.19 | % | 0.22 | % | 0.76 | % | |||||||||||||
Total expenses6 |
0.93 | % | 0.92 | % | 0.89 | % | 0.99 | % | 0.80 | % | 0.77 | % | |||||||||||||
Expenses after payments, waivers and/or
reimbursements and reduction
to custodian expenses |
0.93 | % | 0.92 | % | 0.88 | % | 0.98 | % | 0.80 | % | 0.77 | % | |||||||||||||
Portfolio turnover rate |
34 | % | 41 | % | 65 | % | 99 | % | 41 | % | 39 | % |
1. | March 30, 2012 represents the last business day of the Funds semiannual period. See Note 1 of the accompanying Notes. | |
2. | Per share amounts calculated based on the average shares outstanding during the period. | |
3. | Net investment income per share and the net investment income ratio include $0.08 and 0.59%, respectively, resulting from a special dividend from Cairn Energy plc in February 2012. | |
4. | Assumes an initial investment on the business day before the first day of the fiscal period, with all dividends and distributions 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. Sales charges are not reflected in the total returns. Total returns are not annualized for periods less than one full year. Returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. | |
5. | Annualized for periods less than one full year. | |
6. | Total expenses including indirect expenses from affiliated fund were as follows: |
Six Months Ended March 30, 2012 |
0.93 | % | ||
Year Ended September 30, 2011 |
0.92 | % | ||
Year Ended September 30, 2010 |
0.90 | % | ||
Year Ended September 30, 2009 |
0.99 | % | ||
Year Ended September 30, 2008 |
0.80 | % | ||
Year Ended September 30, 2007 |
0.77 | % |
Expiring | ||||
2016 |
$ | 156,523,195 | ||
2017 |
297,617,177 | |||
No expiration |
38,755,644 | |||
Total |
$ | 492,896,016 | ||
Federal tax cost of securities |
$ | 2,417,698,628 | ||
Gross unrealized appreciation |
$ | 610,737,724 | ||
Gross unrealized depreciation |
(227,741,279 | ) | ||
Net unrealized appreciation |
$ | 382,996,445 | ||
Projected Benefit Obligations Increased |
$ | 13,599 | ||
Payments Made to Retired Trustees |
51,666 | |||
Accumulated Liability as of March 30, 2012 |
353,227 |
Standard inputs generally considered | ||
Security Type | by third-party pricing vendors | |
Corporate debt, government
debt, municipal, mortgage-backed
and asset-backed securities
|
Reported trade data, broker-dealer price quotations, benchmark yields, issuer spreads on comparable securities, the credit quality, yield, maturity, and other appropriate factors. | |
Loans
|
Information obtained from market participants regarding reported trade data and broker-dealer price quotations. | |
Event-linked bonds
|
Information obtained from market participants regarding reported trade data and broker-dealer price quotations. |
1) | Level 1unadjusted quoted prices in active markets for identical assets or liabilities (including securities actively traded on a securities exchange) | ||
2) | Level 2inputs other than unadjusted quoted prices that are observable for the asset or liability (such as unadjusted quoted prices for similar assets and market corroborated inputs such as interest rates, prepayment speeds, credit risks, etc.) | ||
3) | Level 3significant unobservable inputs (including the Managers own judgments about assumptions that market participants would use in pricing the asset or liability). |
Level 3 | ||||||||||||||||
Level 1 | Level 2 | Significant | ||||||||||||||
Unadjusted | Other Significant | Unobservable | ||||||||||||||
Quoted Prices | Observable Inputs | Inputs | Value | |||||||||||||
Assets Table |
||||||||||||||||
Investments, at Value: |
||||||||||||||||
Common Stocks |
||||||||||||||||
Consumer Discretionary |
$ | 447,785,240 | $ | 203,665,206 | $ | | $ | 651,450,446 | ||||||||
Consumer Staples |
188,889,168 | | | 188,889,168 | ||||||||||||
Financials |
261,898,229 | 26,436,241 | | 288,334,470 | ||||||||||||
Health Care |
513,477,490 | 29,127,510 | | 542,605,000 | ||||||||||||
Industrials |
223,603,871 | | | 223,603,871 | ||||||||||||
Information Technology |
625,956,717 | 71,141,169 | | 697,097,886 | ||||||||||||
Materials |
101,998,607 | | | 101,998,607 | ||||||||||||
Telecommunication Services |
35,806,142 | | | 35,806,142 | ||||||||||||
Utilities |
53,681,698 | | | 53,681,698 | ||||||||||||
Investment Company |
17,227,785 | | | 17,227,785 | ||||||||||||
Total Assets |
$ | 2,470,324,947 | $ | 330,370,126 | $ | | $ | 2,800,695,073 | ||||||||
Liabilities Table |
||||||||||||||||
Other Financial Instruments: |
||||||||||||||||
Foreign currency exchange contracts |
$ | | $ | (272,216 | ) | $ | | $ | (272,216 | ) | ||||||
Total Liabilities |
$ | | $ | (272,216 | ) | $ | | $ | (272,216 | ) | ||||||
Transfers into | Transfers out | Transfers into | Transfers out | |||||||||||||
Level 1* | of Level 1** | Level 2** | of Level 2* | |||||||||||||
Assets Table |
||||||||||||||||
Investments, at Value: |
||||||||||||||||
Common Stocks |
||||||||||||||||
Consumer Discretionary |
$ | 139,108,676 | $ | (58,537,534 | ) | $ | 58,537,534 | $ | (139,108,676 | ) | ||||||
Consumer Staples |
68,814,853 | | | (68,814,853 | ) | |||||||||||
Health Care |
66,474,083 | | | (66,474,083 | ) | |||||||||||
Industrials |
103,561,745 | | | (103,561,745 | ) | |||||||||||
Information Technology |
71,309,369 | | | (71,309,369 | ) | |||||||||||
Materials |
26,499,344 | | | (26,499,344 | ) | |||||||||||
Telecommunication Services |
5,164,708 | | | (5,164,708 | ) | |||||||||||
Utilities |
22,300,203 | | | (22,300,203 | ) | |||||||||||
Total Assets |
$ | 503,232,981 | $ | (58,537,534 | ) | $ | 58,537,534 | $ | (503,232,981 | ) | ||||||
* | Transferred from Level 2 to Level 1 due to the presence of a readily available unadjusted quoted market price. As of the prior reporting period end, these securities were absent of a readily available unadjusted quoted market price due to a significant event occurring before the Funds assets were valued but after the close of the securities respective exchanges. | |
** | Transferred from Level 1 to Level 2 because of the absence of a readily available unadjusted quoted market price due to a significant event occurring before the Funds assets were valued but after the close of the securities respective exchanges. |
Six Months Ended March 30, 20121 | Year Ended September 30, 2011 | |||||||||||||||
Shares | Amount | Shares | Amount | |||||||||||||
Class A |
||||||||||||||||
Sold |
5,079,979 | $ | 146,610,017 | 9,993,430 | $ | 296,645,089 | ||||||||||
Dividends and/or distributions reinvested |
342,176 | 9,067,660 | 628,844 | 18,462,796 | ||||||||||||
Redeemed |
(7,397,175 | ) | (210,625,582 | ) | (16,603,405 | ) | (493,267,785 | ) | ||||||||
Net decrease |
(1,975,020 | ) | $ | (54,947,905 | ) | (5,981,131 | ) | $ | (178,159,900 | ) | ||||||
Six Months Ended March 30, 20121 | Year Ended September 30, 2011 | |||||||||||||||
Shares | Amount | Shares | Amount | |||||||||||||
Class B |
||||||||||||||||
Sold |
255,852 | $ | 6,760,848 | 559,002 | $ | 15,303,066 | ||||||||||
Dividends and/or distributions reinvested |
| | 5,060 | 137,674 | ||||||||||||
Redeemed |
(894,897 | ) | (23,555,051 | ) | (2,053,361 | ) | (56,686,727 | ) | ||||||||
Net decrease |
(639,045 | ) | $ | (16,794,203 | ) | (1,489,299 | ) | $ | (41,245,987 | ) | ||||||
Class C |
||||||||||||||||
Sold |
908,435 | $ | 24,068,082 | 1,601,604 | $ | 43,808,179 | ||||||||||
Dividends and/or distributions reinvested |
| | 44,161 | 1,201,186 | ||||||||||||
Redeemed |
(1,440,682 | ) | (37,946,246 | ) | (3,012,367 | ) | (82,208,140 | ) | ||||||||
Net decrease |
(532,247 | ) | $ | (13,878,164 | ) | (1,366,602 | ) | $ | (37,198,775 | ) | ||||||
Class I |
||||||||||||||||
Sold |
337 | $ | 10,000 | | $ | | ||||||||||
Dividends and/or distributions reinvested |
| | | | ||||||||||||
Redeemed |
| | | | ||||||||||||
Net increase |
337 | $ | 10,000 | | $ | | ||||||||||
Class N |
||||||||||||||||
Sold |
468,008 | $ | 13,135,266 | 1,107,467 | $ | 31,954,971 | ||||||||||
Dividends and/or distributions reinvested |
6,875 | 177,600 | 21,934 | 627,497 | ||||||||||||
Redeemed |
(572,867 | ) | (15,852,064 | ) | (1,213,522 | ) | (35,105,701 | ) | ||||||||
Net decrease |
(97,984 | ) | $ | (2,539,198 | ) | (84,121 | ) | $ | (2,523,233 | ) | ||||||
Class Y |
||||||||||||||||
Sold |
2,056,012 | $ | 60,036,286 | 3,654,469 | $ | 109,852,666 | ||||||||||
Dividends and/or distributions reinvested |
54,783 | 1,460,504 | 61,899 | 1,828,501 | ||||||||||||
Redeemed |
(1,226,938 | ) | (34,458,230 | ) | (2,464,025 | ) | (71,853,465 | ) | ||||||||
Net increase |
883,857 | $ | 27,038,560 | 1,252,343 | $ | 39,827,702 | ||||||||||
1. | For the six months ended March 30, 2012 for Class A, Class B, Class C, Class N and Class Y shares, and for the period from January 27, 2012 (inception of offering) to March 30, 2012 for Class I shares. |
Purchases | Sales | |||||||
Investment securities |
$ | 867,529,622 | $ | 956,271,172 |
Fee Schedule | ||||
Up to $250 million |
0.80 | % | ||
Next $250 million |
0.77 | |||
Next $500 million |
0.75 | |||
Next $1 billion |
0.69 | |||
Next $1.5 billion |
0.67 | |||
Next $2.5 billion |
0.65 | |||
Over $6 billion |
0.63 |
Class B |
$ | 6,560,703 | ||
Class C |
12,539,541 | |||
Class N |
1,539,215 |
Class A | Class B | Class C | Class N | |||||||||||||||||
Class A | Contingent | Contingent | Contingent | Contingent | ||||||||||||||||
Front-End | Deferred | Deferred | Deferred | Deferred | ||||||||||||||||
Sales Charges | Sales Charges | Sales Charges | Sales Charges | Sales Charges | ||||||||||||||||
Six Months | Retained by | Retained by | Retained by | Retained by | Retained by | |||||||||||||||
Ended | Distributor | Distributor | Distributor | Distributor | Distributor | |||||||||||||||
March 30, 2012 |
$ | 170,787 | $ | 6,922 | $ | 92,475 | $ | 9,225 | $ | 222 |
Class B |
$ | 73,228 |
Credit Risk. Credit risk relates to the ability of the issuer to meet interest and principal payments, or both, as they come due. In general, lower-grade, higher-yield bonds are subject to credit risk to a greater extent than lower-yield, higher-quality bonds. |
Equity Risk. Equity risk relates to the change in value of equity securities as they relate to increases or decreases in the general market. |
Foreign Exchange Rate Risk. Foreign exchange rate risk relates to the change in the U.S. dollar value of a security held that is denominated in a foreign currency. The U.S. dollar value of a foreign currency denominated security will decrease as the dollar appreciates against the currency, while the U.S. dollar value will increase as the dollar depreciates against the currency. |
Interest Rate Risk. Interest rate risk refers to the fluctuations in value of fixed-income securities resulting from the inverse relationship between price and yield. For example, an increase in general interest rates will tend to reduce the market value of already issued fixed-income investments, and a decline in general interest rates will tend to increase their value. In addition, debt securities with longer maturities, which tend to have higher yields, are subject to potentially greater fluctuations in value from changes in interest rates than obligations with shorter maturities. |
Volatility Risk. Volatility risk refers to the magnitude of the movement, but not the direction of the movement, in a financial instruments price over a defined time |
period. Large increases or decreases in a financial instruments price over a relative time period typically indicate greater volatility risk, while small increases or decreases in its price typically indicate lower volatility risk. |
Counterparty Credit Risk. Certain derivative positions are subject to counterparty credit risk, which is the risk that the counterparty will not fulfill its obligation to the Fund. The Funds derivative counterparties are financial institutions who are subject to market conditions that may weaken their financial position. The Fund intends to enter into financial transactions with counterparties that the Manager believes to be credit-worthy at the time of the transaction. |
Credit Related Contingent Features. The Funds agreements with derivative counterparties have several credit related contingent features that if triggered would allow its derivatives counterparties to close out and demand payment or additional collateral to cover their exposure from the Fund. Credit related contingent features are established between the Fund and its derivatives counterparties to reduce the risk that the Fund will not fulfill its payment obligations to its counterparties. These triggering features include, but are not limited to, a percentage decrease in the Funds net assets and or a percentage decrease in the Funds Net Asset Value or NAV. The contingent features are established within the Funds International Swap and Derivatives Association, Inc. master agreements which govern certain positions in swaps, over-the-counter options and swaptions, and forward currency exchange contracts for each individual counterparty. |
Liability Derivatives | ||||||||
Derivatives Not Accounted | Statement of Assets and | |||||||
for as Hedging Instruments | Liabilities Location | Value | ||||||
Foreign exchange contracts |
Unrealized depreciation | |||||||
on foreign currency | ||||||||
exchange contracts | $ | 272,216 |
Amount of Realized Gain or (Loss) Recognized on Derivatives | ||||
Derivatives Not Accounted | Foreign currency | |||
for as Hedging Instruments | transactions | |||
Foreign exchange contracts |
$ | (915,080 | ) |
Amount of Change in Unrealized Gain or (Loss) Recognized on Derivatives | ||||
Derivatives Not Accounted | Translation of assets and liabilities | |||
for as Hedging Instruments | denominated in foreign currencies | |||
Foreign exchange contracts |
$ (270,919 | ) |
Trustees and Officers
|
Brian F. Wruble, Chairman of the Board of Trustees and Trustee | |
David K. Downes, Trustee | ||
Matthew P. Fink, Trustee | ||
Phillip A. Griffiths, Trustee | ||
Mary F. Miller, Trustee | ||
Joel W. Motley, Trustee | ||
Mary Ann Tynan, Trustee | ||
Joseph M. Wikler, Trustee | ||
Peter I. Wold, Trustee | ||
William F. Glavin, Jr., President and Principal Executive Officer | ||
Frank V. Jennings, Vice President | ||
Arthur S. Gabinet, Secretary and Chief Legal Officer | ||
Christina M. Nasta, Vice President and Chief Business Officer | ||
Mark S. Vandehey, Vice President and Chief Compliance Officer | ||
Brian W. Wixted, Treasurer and Principal Financial & Accounting Officer | ||
Manager
|
OppenheimerFunds, Inc. | |
Distributor
|
OppenheimerFunds Distributor, Inc. | |
Transfer and Shareholder
|
OppenheimerFunds Services | |
Servicing Agent |
||
Independent
|
KPMG llp | |
Registered Public |
||
Accounting Firm |
||
Legal Counsel
|
Kramer Levin Naftalis & Frankel LLP | |
The financial statements included herein have been taken from the records of the Fund without examination of those records by the independent registered public accounting firm. |
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| You can exit the secure area by either closing your browser, or for added security, you can use the Log Out button before you close your browser. |
1. | The Funds Governance Committee (the Committee) will evaluate potential Board candidates to assess their qualifications. The Committee shall have the authority, upon approval of the Board, to retain an executive search firm to assist in this effort. The Committee may consider recommendations by business and personal contacts of current Board members and by executive search firms which the Committee may engage from time to time and may also consider shareholder recommendations. The Committee may consider the advice and recommendation of the Funds investment manager and its affiliates in making the selection. | |
2. | The Committee shall screen candidates for Board membership. The Committee has not established specific qualifications that it believes must be met by a trustee nominee. In evaluating trustee nominees, the Committee considers, among other things, an individuals background, skills, and experience; whether the individual is an interested person as defined in the Investment Company Act of 1940; and whether the individual would be deemed an audit committee financial expert within the meaning of applicable SEC rules. The Committee also considers whether the individuals background, skills, and experience will complement the background, skills, and experience of other nominees and will contribute to the Board. There are no differences in the manner in which the Committee evaluates nominees for trustees based on whether the nominee is recommended by a shareholder. | |
3. | The Committee may consider nominations from shareholders for the Board at such times as the Committee meets to consider new nominees for the Board. The Committee shall have the sole discretion to determine the candidates to present to the Board and, in such cases where required, to shareholders. Recommendations for trustee nominees should, at a minimum, be accompanied by the following: |
| the name, address, and business, educational, and/or other pertinent background of the person being recommended; | ||
| a statement concerning whether the person is an interested person as defined in the Investment Company Act of 1940; | ||
| any other information that the Funds would be required to include in a proxy statement concerning the person if he or she was nominated; and | ||
| the name and address of the person submitting the recommendation and, if that person is a shareholder, the period for which that person held Fund shares. |
The recommendation also can include any additional information which the person submitting it believes would assist the Committee in evaluating the recommendation. |
4. | Shareholders should note that a person who owns securities issued by Massachusetts Mutual Life Insurance Company (the parent company of the Funds investment adviser) would be deemed an interested person under the Investment Company Act of 1940. In addition, certain other relationships with Massachusetts Mutual Life Insurance Company or its |
subsidiaries, with registered broker-dealers, or with the Funds outside legal counsel may cause a person to be deemed an interested person. | ||
5. | Before the Committee decides to nominate an individual as a trustee, Committee members and other directors customarily interview the individual in person. In addition, the individual customarily is asked to complete a detailed questionnaire which is designed to elicit information which must be disclosed under SEC and stock exchange rules and to determine whether the individual is subject to any statutory disqualification from serving as a trustee of a registered investment company. |
(a)
|
(1) Not applicable to semiannual reports. | |
(2) Exhibits attached hereto. | ||
(3) Not applicable. | ||
(b)
|
Exhibit attached hereto. |
By:
|
/s/ William F. Glavin, Jr.
|
|||
Principal Executive Officer | ||||
Date:
|
5/8/2012 |
By:
|
/s/ William F. Glavin, Jr.
|
|||
Principal Executive Officer | ||||
Date:
|
5/8/2012 | |||
By:
|
/s/ Brian W. Wixted
|
|||
Principal Financial Officer | ||||
Date:
|
5/8/2012 |
1. | I have reviewed this report on Form N-CSR of Oppenheimer Global Opportunities Fund; | |
2. | Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report; | |
3. | Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the registrant as of, and for, the periods presented in this report; | |
4. | The registrants other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have: |
(a) | Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared; | ||
(b) | Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles; | ||
(c) | Evaluated the effectiveness of the registrants disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and | ||
(d) | Disclosed in this report any change in the registrants internal control over financial reporting that occurred during the second fiscal quarter of the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrants internal control over financial reporting; and |
5. | The registrants other certifying officer and I have disclosed to the registrants auditors and the audit committee of the registrants board of Trustees (or persons performing the equivalent functions): |
(a) | All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrants ability to record, process, summarize, and report financial information; and | ||
(b) | Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrants internal control over financial reporting. |
/s/ William F. Glavin, Jr.
|
||
Principal Executive Officer |
1. | I have reviewed this report on Form N-CSR of Oppenheimer Global Opportunities Fund; | |
2. | Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report; | |
3. | Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the registrant as of, and for, the periods presented in this report; | |
4. | The registrants other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have: |
(a) | Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared; | ||
(b) | Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles; | ||
(c) | Evaluated the effectiveness of the registrants disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and | ||
(d) | Disclosed in this report any change in the registrants internal control over financial reporting that occurred during the second fiscal quarter of the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrants internal control over financial reporting; and |
5. | The registrants other certifying officer and I have disclosed to the registrants auditors and the audit committee of the registrants board of Trustees (or persons performing the equivalent functions): |
(a) | All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrants ability to record, process, summarize, and report financial information; and | ||
(b) | Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrants internal control over financial reporting. |
/s/ Brian W. Wixted
|
||
Principal Financial Officer |
1. | The Registrants periodic report on Form N-CSR for the period ended 3/30/2012 (the Form N-CSR) fully complies with the requirements of Section 15(d) of the Securities Exchange Act of 1934, as amended; and | |
2. | The information contained in the Form N-CSR fairly presents, in all material respects, the financial condition and results of operations of the Registrant. This certification is being furnished to the Commission solely pursuant to 18 U.S.C. § 1350 and is not being filed as part of the Form N-CSR filed with the Commission. |
Principal Executive Officer
|
Principal Financial Officer | |||
Oppenheimer Global Opportunities Fund
|
Oppenheimer Global Opportunities Fund | |||
/s/ William F. Glavin, Jr.
|
/s/ Brian W. Wixted
|
|||
Date: 5/8/2012
|
Date: 5/8/2012 |
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