OppenheimerFunds is planning to launch a new international diversified fund that will invest primarily in other Oppenheimer international funds, the company said in a recent filing with the Securities and Exchange Commission.

The proposed fund-of-funds, the Oppenheimer International Diversified Fund, will seek long-term capital appreciation by investing in a portfolio consisting of an allocation in Class Y shares of other Oppenheimer funds, the Form N-1A filing said. It will emphasize investments that focus on common stocks of foreign companies.

The funds that will comprise the Oppenheimer International Diversified Fund include the Oppenheimer Developing Markets Fund, the Oppenheimer Global Opportunities Fund, Oppenheimer International Bond Fund, Oppenheimer International Growth Fund, Oppenheimer International Small Company Fund, Oppenheimer International Value Fund and the Oppenheimer Quest International Value Fund, according to the filing.

As outlined in the tentative prospectus, George R. Evans, vice president and director of international equities, will serve as lead manager of the fund, which will offer Class A, B, C, N and Y shares. Class A shares will carry a 5.75%  maximum front-end sales load. Class B shares will impose a maximum back-end load of 5%, while Class C and N shares will top out at 1%. Y Shares will be a no-load offering, the filing said.

The fund won't invest more than 50% of its net assets in any single underlying fund and may put some of its assets in shares of Oppenheimer money market funds, the company said. This occurs at times when the manager is unable to immediately invest funds received from purchases of fund shares or from redemptions of other investments.

The minimum initial investment in the fund is $1,000 with a $50 minimum on each subsequent investment

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