{"id":3679,"date":"2016-05-16T00:00:00","date_gmt":"2016-05-16T05:00:00","guid":{"rendered":"https:\/\/stockbrokerfraudblog.blawgcloud.com\/2016\/05\/oppenheimer_shuts_down_its_com"},"modified":"2022-03-11T13:38:18","modified_gmt":"2022-03-11T19:38:18","slug":"oppenheimer-shuts-down-its-com","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/oppenheimer-shuts-down-its-com\/","title":{"rendered":"Oppenheimer Shuts Down Its Commodity Strategy Total Return Fund"},"content":{"rendered":"

After nearly twenty years, Oppenheimer (OPY)<\/a> is liquidating its Commodity Strategy Total Return Fund (QRAAX) in mid-July. The reason for the shut down is underperformance. <\/p>\n

According to the company\u2019s website, the Oppenheimer Commodity Strategy Total Return Fund lost 49% since it was created in 1997, and average yearly returns have consistently declined by the double digits. The Wall Street Journal<\/em> reported that the commodity fund has lost money annually since hitting an 8.5% return in 2010. It\u2019s also been up 7.19% since the beginning of 2016. However InvestmentNews <\/em>reports, the fund\u2019s performance has been poor over the last five years. The Oppenheimer fund\u2019s assets under management is down to $269M from over $2B in 2011. <\/p>\n

While Oppenheimer said that it continues to believe in the value of its investment strategy, the firm is now saying that investors would benefit more from a multi-asset portfolio. The Commodity Strategy Total Return Fund is most heavily involved in energy, with agriculture and precious industrial metals also big presences. The decline in their prices have played a factor in the fund\u2019s decline. <\/p>\n

Oppenheimer has also been in the spotlight of late because a lawmaker has asked the SEC to look into OppenheimerFunds and whether the firm has complied with securities laws when dealing with Puerto Rico bond investments. NY City Council Speaker Melissa Mark-Viverto believes that the firm helped to make the U.S. territory\u2019s financial crisis worse. OppenheimerFunds is heavily invested in Puerto Rico. The Island owes more than $70B in debt. <\/p>\n

Oppenheimer Shuts Down Its Commodity Strategy Total Return Fund<\/a>, The Wall Street Journal, May 11, 2016 <\/p>\n

NY City Council Speaker Wants SEC to Investigate Oppenheimer Funds Over Puerto Rico Debt Crisis<\/a>, Stockbroker Fraud Blog, May 9, 2016 <\/p>\n

Continue Reading \u203a<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

After nearly twenty years, Oppenheimer (OPY) is liquidating its Commodity Strategy Total Return Fund (QRAAX) in mid-July. The reason for the shut down is underperformance. According to the company\u2019s website, the Oppenheimer Commodity Strategy Total Return Fund lost 49% since it was created in 1997, and average yearly returns have consistently declined by the double […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3752,3786],"tags":[],"class_list":["post-3679","post","type-post","status-publish","format-standard","hentry","category-financial-firms","category-oppenheimer"],"yoast_head":"\nOppenheimer Shuts Down Its Commodity Strategy Total Return Fund — Investor Lawyers Blog — May 16, 2016<\/title>\n<meta name=\"description\" content=\"After nearly twenty years, Oppenheimer (OPY) is liquidating its Commodity Strategy Total Return Fund (QRAAX) in mid-July. 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