The securities and investment fraud law firm Fitapelli Kurta is interested in hearing from investors who have complaints regarding the Oppenheimer Commodity Strategy Total Return Fund (QRAAX), whose liquidation was announced in May 2016.
According to US News, the Oppenheimer Commodity Strategy Total Return Fund “mainly invests in a combination of commodity-linked derivatives and corporate and governmental fixed-income securities.” The fund’s investments are typically connected to five commodities sectors — energy, agriculture, precious metals, industrial metals, and livestock — based on how those sectors are weighted in the Bloomberg Commodity Index. QRAAX typically invests “25% or more of its total assets in investments linked to these sectors as a group, and “may purchase up to 10% of its total assets in below-investment-grade securities,” according to US News. The fund, which manages approximately $269 million in assets, has reportedly returned -19.64% over the last year, -17.02 over the last three years, and -11.22% over the last ten years.
According to the Wall Street Journal, Oppenheimer & Company has announced that it will shut down QRAAX on around July 15, 2016, following its recent losses. Mark Hamilton, Oppenheimer Funds’ CIO of Asset Allocation, said in a statement: “We continue to believe in the merit of an investment strategy that includes exposure to commodities; but as investors’ appetite for this asset class has evolved over time, we believe such a strategy can best be implemented as a component of diversified multiasset portfolios.”
If you have lost money investing in the Oppenheimer Commodity Strategy Total Return Fund (QRAAX), you may be able to collect a recovery. Call the securities and investment fraud law firm Fitapelli Kurta at 877-238-4175 for a free consultation. All cases are taken on contingency: we only receive payment if and when you recover money. You may have a limited window to file your claim, so we suggest you avoid delay. Call 877-238-4175 now to speak to an attorney for free.