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Emerging Technologies Fund Created

Oppenheimer will offer a long-term capital-appreciation mutual fund to invest in U.S. and foreign emerging technology companies with significant growth potential, according to an April 25 filing with the SEC. Oppenheimer Emerging Technologies Fund will focus on companies involved in bandwidth, technologically advanced data transmission, telecommunications, and wireless and satellite communications.

The fund will place no limit on the amount of its assets that may be invested in initial public offerings. As such, it is designed for investors seeking long-term capital appreciation, but not necessarily income.