Five states are examining the underlying investment offerings in OppenheimerFundsÂ’ 529 plan after two of the funds lost substantial amounts over the past year: the Oppenheimer Champion Income Fund is down 79%, and the Oppenheimer Core Bond Fund is down 41%.

Officials in Illinois, Maine, New Mexico, Oregon and Texas are jointly conducting the investigation into whether OppenheimerFunds violated its fiduciary duty.

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