Only if you supply the announcer in the sound booth:
"Investing in MLPs involves additional risks as compared to the risks of investing in common stock, including risks related to cash flow, dilution and voting rights. Each Fund’s investments are concentrated in the energy infrastructure industry with an emphasis on securities issued by MLPs, which may increase price fluctuation. Energy infrastructure companies are subject to risks specific to the industry such as fluctuations in commodity prices, reduced volumes of natural gas or other energy commodities, environmental hazards, changes in the macroeconomic or the regulatory environment or extreme weather. MLPs may trade less frequently than larger companies due to their smaller capitalizations which may result in erratic price movement or difficulty in buying or selling. MLPs are subject to significant regulation and may be adversely affected by changes in the regulatory environment including the risk that an MLP could lose its tax status as a partnership. Additional management fees and other expenses are associated with investing in MLP funds. The Oppenheimer SteelPath MLP Funds are subject to certain MLP tax risks. Except for the Oppenheimer SteelPath MLP and Infrastructure Debt Fund, risks associated with accounting for deferred tax liability could materially impact each Funds’ net asset value. An investment in an Oppenheimer SteelPath MLP Fund does not offer the same tax benefits of a direct investment in an MLP. Except for the Oppenheimer SteelPath MLP and Infrastructure Debt Fund, all Oppenheimer SteelPath MLP Funds are organized as Subchapter “C” Corporations which means that they will pay federal, state and local income taxes at a corporate rate based on their taxable income. The potential benefit of investing in MLPs generally is their treatment as partnerships for federal income tax purposes. Since the Oppenheimer SteelPath MLP Funds, except for the Oppenheimer SteelPath MLP and Infrastructure Debt Fund, are corporations, they will be taxed at the fund level which in turn will reduce the Funds’ net asset value and the amount of cash available for distribution.
To the extent that a Fund obtains leverage through borrowings, there will be the potential for greater gains and the risk of magnified losses. Investing in debt securities involves additional risks including interest rate risk, credit risk, duration risk, and duplication of advisory fees and other expenses. High yield securities involve more risks than investment-grade securities and tend to be more sensitive to economic conditions. Private equity investments may be subject to greater risks than investments in publicly traded companies due to limited public information and lack of regulatory oversight."
- Oppenheimer
Sorry, Last post today.
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