Oppenheimer 60th Anniversary - 49

from one location to another, and in the
middle of winter it was downright awful."
The new buildings were designed to
be state-of-the-art in everything from
technology and energy management to
layout and amenities. Massive generators with large fuel tanks can keep the
campus running for up to three days
in the event of a major power outage.
West-facing windows command a spectacular view of the mountains, including Pikes Peak. And the site includes
an outdoor running path, a volleyball
court, an exercise room with lockers
and showers, a cafeteria with an outside
patio, and two food and beverage galleys on each floor.
Today, the Centennial campus houses
a multitude of Company operations,
including the Company's three transfer
agents (OppenheimerFunds Services,
Shareholder Services, Inc., and Shareholder Financial Services, Inc.). It is also
home to the dealer-servicing arm of
OppenheimerFunds Distributor, Inc.,
the fund and corporate accounting
units, and the Firm's money market
fund and leveraged loan portfolio management teams.
In 1997 workers buried a time
capsule on the Centennial campus to
be opened in the 50th anniversary year.
It contains projects, goals, and initiatives
that employees were working on at
the time, as well as a collection of old
documents from Hamilton Funds (a
firm acquired by Oppenheimer & Co. in
1975), company newsletters, and some
pop culture items. n

Connecticut Mutual Funds:
Oppenheimer Value Fund
Joins the Family
1996 Connecticut Mutual Life Insurance Company merged with
Massachusetts Mutual Life Insurance Company in March, creating
one of the largest mutual life companies in the United States.
OppenheimerFunds became the investment advisor to the mutual
funds formerly managed by Connecticut Mutual, including what is
now the Oppenheimer Value Fund. n
Quest for Value Global Equity Fund, Quest for Value
Opportunity Fund, Quest for Value Small Capitalization Fund, Quest for Value Growth and Income
Fund, and Quest for Value Officers Fund) with about
$1.25 billion in total assets, and six fixed-income
funds with assets totaling about $330 million. The
equity funds became OppenheimerFunds offerings
following the acquisition, while the fixed-income funds
were merged into existing Company funds.
The transaction also included Quest's retirementplanning business, which had assets of approximately

Oppenheimer Management Corp. "This acquisition
will enable us to offer investors a further diversified
product line of top-performing mutual funds with
complementary investment styles."
The Quest deal was an important early step in
OppenheimerFunds' march toward its goal of $100
billion in assets under management.
Along with acquisitions, the other prong of OppenheimerFunds' expansion strategy at this time was a
focus on organic growth. Oppenheimer International
Bond Fund, which launched in 1995, is a diversified
portfolio in the Company's fixed
income lineup, with the potential
for high returns and diversification
from markets in the United States.
The overall economic climate
began to improve soon after
the Quest for Value acquisition,
giving further impetus to the
Company's plans for growth. The
Dow Jones Industrial Average closed above 6,000
for the first time ever in 1996, and there was talk
of a new "golden age" for the U.S. economy. The
country's low inflation rate and high employment
levels reminded some of the high-growth period
of the 1950s, when new businesses sprang up at a
record pace, absorbing thousands of new workers
into the economy. Technology was at the forefront,
and President Clinton signed the Telecommunications Act of 1996 in February, signaling the start

The Quest deal also created a
presence for OppenheimerFunds
in the value investing segment.
$400 million at the time, mostly invested in 401(k)
accounts and IRAs.
In addition to growing the Company's assets
under management, the Quest deal also further diversified the product line, creating a presence for OppenheimerFunds in a segment of the market where it had
not been strongly represented before. "The Quest for
Value funds have an outstanding reputation for value
investing, while we have a more growth-oriented
style," observed Bridget Macaskill, then president of
Oppenheimer Management Corp. is
renamed OppenheimerFunds, Inc.

OppenheimerFunds becomes the
investment advisor for funds formerly
managed by Connecticut Mutual Life.

Ground is broken for the Company's
expansive Centennial Campus, south
of Denver, Colorado.

1996

1995-2000 Acquisition and Expansion

* 49

Oppenheimer 60th Anniversary

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