0001193125-18-217495.txt : 20180713 0001193125-18-217495.hdr.sgml : 20180713 20180713100810 ACCESSION NUMBER: 0001193125-18-217495 CONFORMED SUBMISSION TYPE: 485BPOS PUBLIC DOCUMENT COUNT: 16 FILED AS OF DATE: 20180713 DATE AS OF CHANGE: 20180713 EFFECTIVENESS DATE: 20180713 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Oppenheimer International Diversified Fund CENTRAL INDEX KEY: 0001329067 IRS NUMBER: 000000000 STATE OF INCORPORATION: DE FISCAL YEAR END: 0430 FILING VALUES: FORM TYPE: 485BPOS SEC ACT: 1933 Act SEC FILE NUMBER: 333-125805 FILM NUMBER: 18951757 BUSINESS ADDRESS: STREET 1: 6803 SOUTH TUCSON WAY CITY: CENTENNIAL STATE: CO ZIP: 80112 BUSINESS PHONE: 303-768-3200 MAIL ADDRESS: STREET 1: 6803 SOUTH TUCSON WAY CITY: CENTENNIAL STATE: CO ZIP: 80112 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Oppenheimer International Diversified Fund CENTRAL INDEX KEY: 0001329067 IRS NUMBER: 000000000 STATE OF INCORPORATION: DE FISCAL YEAR END: 0430 FILING VALUES: FORM TYPE: 485BPOS SEC ACT: 1940 Act SEC FILE NUMBER: 811-21775 FILM NUMBER: 18951758 BUSINESS ADDRESS: STREET 1: 6803 SOUTH TUCSON WAY CITY: CENTENNIAL STATE: CO ZIP: 80112 BUSINESS PHONE: 303-768-3200 MAIL ADDRESS: STREET 1: 6803 SOUTH TUCSON WAY CITY: CENTENNIAL STATE: CO ZIP: 80112 0001329067 S000008825 Oppenheimer International Diversified Fund C000024038 A C000024040 C C000024041 R C000024042 Y C000117880 I 485BPOS 1 d603586d485bpos.htm INTERNATIONAL DIVERSIFIED FUND International Diversified Fund
Registration No. 333-125805
File No. 811-21775
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM N-1A
REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933
Pre­Effective Amendment No.
Post­Effective Amendment No. 24
and/or
REGISTRATION STATEMENT UNDER THE INVESTMENT COMPANY ACT OF 1940
Amendment No. 26
Oppenheimer International Diversified Fund
(Exact Name of Registrant as Specified in Charter)
6803 South Tucson Way, Centennial, Colorado 80112-3924
(Address of Principal Executive Offices) (Zip Code)
(303) 768-3200
(Registrant’s Telephone Number, including Area Code)
Cynthia Lo Bessette, Esq.
OFI Global Asset Management, Inc.
225 Liberty Street, New York, New York 10281-1008
(Name and Address of Agent for Service)
It is proposed that this filing will become effective (check appropriate box):
☒ immediately upon filing pursuant to paragraph (b)
□ on                                        pursuant to paragraph (b)
□ 60 days after filing pursuant to paragraph (a)(1)
□ on                                       pursuant to paragraph (a)(1)
□ 75 days after filing pursuant to paragraph (a)(2)
□ on                                       pursuant to paragraph (a)(2) of Rule 485.
If appropriate, check the following box:
□ This post-effective amendment designates a new effective date for a previously filed post-effective amendment.

 


SIGNATURES
Pursuant to the requirements of the Securities Act of 1933 and the Investment Company Act of 1940, the Registrant certifies that it meets all the requirements for effectiveness of this Registration Statement pursuant to Rule 485(b) under the Securities Act of 1933 and has duly caused this Registration Statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of New York and State of New York on the 13th day of July, 2018.
  Oppenheimer International Diversified Fund
 
By: Arthur P. Steinmetz*
  Arthur P. Steinmetz
Trustee, President and Principal Executive Officer
Pursuant to the requirements of the Securities Act of 1933, this Registration Statement has been signed below by the following persons in the capacities on the dates indicated:
Signatures   Title   Date
Brian F. Wruble*
Brian F. Wruble
  Chairman of the Board of Trustees   July 13, 2018
Arthur P. Steinmetz*
Arthur P. Steinmetz
  Trustee, President and Principal Executive Officer   July 13, 2018
Brian S. Petersen*
Brian S. Petersen
  Treasurer, Principal Financial & Accounting Officer   July 13, 2018
Beth Ann Brown*
Beth Ann Brown
  Trustee   July 13, 2018
Edmund P. Giambastiani, Jr.*
Edmund P. Giambastiani, Jr.
  Trustee   July 13, 2018
Elizabeth Krentzman*
Elizabeth Krentzman
  Trustee   July 13, 2018
Mary F. Miller*
Mary F. Miller
  Trustee   July 13, 2018
Joel W. Motley*
Joel W. Motley
  Trustee   July 13, 2018
Joanne Pace*
Joanne Pace
  Trustee   July 13, 2018
Daniel S. Vandivort*
Daniel S. Vandivort
  Trustee   July 13, 2018
*By: /s/ Taylor V. Edwards
Taylor V. Edwards, Attorney-in-Fact
       

 


EXHIBIT INDEX
Exhibit No.   Description
     
Ex-101.INS   XBRL Instance Document
Ex-101.SCH   XBRL Taxonomy Extension Schema Document
Ex-101.CAL   XBRL Taxonomy Extension Calculation Linkbase Document
Ex-101.DEF   XBRL Taxonomy Extension Definition Linkbase
Ex-101.LAB   XBRL Taxonomy Extension Labels Linkbase
Ex-101.PRE   XBRL Taxonomy Extension Presentation Linkbase Document
EX-101.INS 2 oidf-20180628.xml XBRL INSTANCE DOCUMENT 0001329067 2018-06-28 2018-06-28 0001329067 oidf:S000008825Member 2018-06-28 2018-06-28 0001329067 oidf:S000008825Member oidf:C000024038Member 2018-06-28 2018-06-28 0001329067 oidf:S000008825Member oidf:C000024040Member 2018-06-28 2018-06-28 0001329067 oidf:S000008825Member oidf:C000024041Member 2018-06-28 2018-06-28 0001329067 oidf:S000008825Member oidf:C000024042Member 2018-06-28 2018-06-28 0001329067 oidf:S000008825Member oidf:C000117880Member 2018-06-28 2018-06-28 0001329067 oidf:S000008825Member oidf:C000024038Member rr:AfterTaxesOnDistributionsMember 2018-06-28 2018-06-28 0001329067 oidf:S000008825Member oidf:C000024038Member rr:AfterTaxesOnDistributionsAndSalesMember 2018-06-28 2018-06-28 0001329067 oidf:S000008825Member oidf:MSCIAllCountryWorldexUSAIndexMember 2018-06-28 2018-06-28 pure iso4217:USD 2018-06-28 485BPOS 2018-04-30 Oppenheimer International Diversified Fund 0001329067 false 2018-06-28 2018-06-28 <b>The Fund Summary</b> <b>Investment Objective.</b> The Fund seeks capital appreciation. <b>Fees and Expenses of the Fund.</b> This table describes the fees and expenses that you may pay if you buy and hold or redeem shares of the Fund. You may qualify for sales charge discounts if you (or you and your spouse) invest, or agree to invest in the future, at least $25,000 in certain funds in the Oppenheimer family of funds. More information about these and other discounts and sales charge waivers is available from your financial professional and in the section &#8220;About Your Account&#8221; beginning on page 20 of the prospectus, in the appendix to the prospectus titled &#8220;Special Sales Charge Arrangements and Waivers&#8221; and in the section &#8220;How to Buy Shares&#8221; beginning on page 62 in the Fund&#8217;s Statement of Additional Information. <b>Shareholder Fees</b><br/>(fees paid directly from your investment) <b>Annual Fund Operating Expenses</b><br/><br/>(expenses that you pay each year as a percentage of the value of your investment) <b>Example.</b> <b>If shares are redeemed</b> The following Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in a class of shares of the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund&#8217;s operating expenses remain the same. Any applicable fee waivers and/or expense reimbursements are reflected in the below examples for the first year only. Although your actual costs may be higher or lower, based on these assumptions your expenses would be as follows: <b>If shares are not redeemed </b> <b>Portfolio Turnover. </b> The Fund pays transaction costs, such as commissions, when it buys and sells securities (or &#8220;turns over&#8221; its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in the annual fund operating expenses or in the Example, affect the Fund&#8217;s performance. During the most recent fiscal year, the Fund&#8217;s portfolio turnover rate was 30% of the average value of its portfolio. <b>Principal Investment Strategies.</b> The Fund is a special type of mutual fund known as a &#8220;fund of funds&#8221; because it primarily invests in other mutual funds. Those funds are referred to as the &#8220;Underlying Funds.&#8221; The Underlying Funds mainly invest in foreign equity securities, which are securities of companies organized under the laws of a foreign country, or with a substantial portion of their operations, assets, revenue or profits from businesses, investments or sales outside the United States or securities traded primarily in foreign securities markets. Certain Underlying Funds may invest 100% of their assets in securities of foreign companies. Some Underlying Funds may invest in emerging or developing markets as well as in developed markets throughout the world. From time to time an Underlying Fund may place greater emphasis on investing in one or more particular industry or region. Under normal market conditions, the Fund will invest in shares of some or all of the following Oppenheimer global or international funds that were chosen based on the Sub-Adviser&#8217;s determination that they could provide capital appreciation:<ul type="square"><li> Oppenheimer Developing Markets Fund</li></ul><ul type="square"><li> Oppenheimer International Growth Fund </li></ul><ul type="square"><li> Oppenheimer International Small-Mid Company Fund </li></ul><ul type="square"><li> Oppenheimer International Equity Fund </li></ul>The Fund will typically invest in a minimum of three of the Underlying Funds and will not invest more than 50% of its net assets in any single Underlying Fund. The Sub-Adviser may change the weightings in the Underlying Funds at any time, without prior approval from or notice to shareholders. &#8220;Normal market conditions&#8221; are when securities markets and economic conditions are not unstable or adverse, in the judgment of the Sub-Adviser.<br/><br/>The Sub-Adviser will monitor the markets and allocate assets among the Underlying Funds based on changing market or economic conditions and investment opportunities. In determining how much of the Fund&#8217;s assets to invest in an Underlying Fund, the Sub-Adviser will seek to diversify the Fund&#8217;s investments internationally and among different investment styles, larger and smaller market capitalizations and between developed and emerging markets. The Fund may also change its allocations based on the Sub-Adviser&#8217;s evaluation of economic factors that it believes are not reflected in particular markets in which one or more of the Underlying Funds invest or on current or anticipated changes in currency valuations. The Sub-Adviser monitors the Underlying Fund selections and in response to changing market or economic conditions, the Sub-Adviser may change any or all of the Underlying Funds, including using funds that may be created in the future, without prior approval from or notice to shareholders. Although the term &#8220;Underlying Funds&#8221; refers to Oppenheimer Developing Markets Fund, Oppenheimer International Growth Fund, Oppenheimer International Small-Mid Company Fund, and Oppenheimer International Equity Fund, for ease of reference, the Fund also uses the term &#8220;Underlying Funds&#8221; to refer to Underlying Funds that may be used in the future.<br/><br/>The Fund may hold a portion of its assets in cash, money market securities or other similar, liquid investments, including in shares of money market mutual funds in the Oppenheimer family of funds. This will generally occur at times when the Fund is unable to immediately invest funds received from purchases of Fund shares or from redemptions of other investments or to maintain liquidity. <b>Principal Risks.</b> The price of the Fund&#8217;s shares can go up and down substantially. The value of the Fund&#8217;s investments may change because of broad changes in the markets in which the Underlying Funds invest, because of Underlying Fund investment selection or the Fund&#8217;s asset allocation, which could cause the Fund to underperform other funds with similar objectives. There is no assurance that the Fund will achieve its investment objective. When you redeem your shares, they may be worth more or less than what you paid for them. <i>These risks mean that you can lose money by investing in the Fund.</i><br/><br/>The following summarizes the risks that the Fund is subject to based on its investments in the Underlying Funds. The risks described below are risks to the Fund&#8217;s overall portfolio. These are generally different from the risks of any one Underlying Fund. While each Underlying Fund has its own particular risk characteristics, the strategy of allocating the Fund&#8217;s assets to different Underlying Funds may allow those risks to be offset to some extent.<br/><br/><b>Risks of Investing in the Underlying Funds.</b> Each of the Underlying Funds has its own investment risks, and those risks can affect the value of the Fund&#8217;s investments and therefore the value of the Fund&#8217;s shares. To the extent that the Fund invests more of its assets in one Underlying Fund than in another, it will have greater exposure to the risks of that Underlying Fund. The investment objective and principal investment strategies of each of the Underlying Funds are described in the section &#8220;More Information About the Underlying Funds&#8221; beginning on page 44 of the Fund&#8217;s prospectus. There is no guarantee that the Fund or any Underlying Fund will achieve its investment objective. The Underlying Funds will each pursue their investment objectives and policies without the approval of the Fund. If an Underlying Fund were to change its investment objective or policies, the Fund may be forced to sell its shares of that Underlying Fund at a disadvantageous time. The prospectuses and Statements of Additional Information of the Underlying Funds are available without charge by calling toll free at 1.800.225.5677 and can also be viewed and downloaded on the OppenheimerFunds website at www.oppenheimerfunds.com.<br/><br/><b>Allocation Risk.</b> The Fund&#8217;s ability to achieve its investment objective depends largely upon selecting the best mix of Underlying Funds. There is the risk that portfolio manager evaluations and assumptions regarding the Underlying Funds&#8217; prospects may be incorrect in view of actual market conditions.<br/><br/><b>Risks of Foreign Investing.</b> Foreign securities are subject to special risks. Securities traded in foreign markets may be less liquid and more volatile than those traded in U.S. markets. Foreign issuers are usually not subject to the same accounting and disclosure requirements that U.S. companies are subject to, which may make it difficult for the Fund to evaluate a foreign company&#8217;s operations or financial condition. A change in the value of a foreign currency against the U.S. dollar will result in a change in the U.S. dollar value of investments denominated in that foreign currency and in the value of any income or distributions the Fund may receive on those investments. The value of foreign investments may be affected by exchange control regulations, foreign taxes, higher transaction and other costs, delays in the settlement of transactions, changes in economic or monetary policy in the United States or abroad, expropriation or nationalization of a company&#8217;s assets, or other political and economic factors. In addition, due to the inter-relationship of global economies and financial markets, changes in political and economic factors in one country or region could adversely affect conditions in another country or region. Investments in foreign securities may also expose the Fund to time-zone arbitrage risk. Foreign securities may trade on weekends or other days when the Fund does not price its shares. As a result, the value of the Fund&#8217;s net assets may change on days when you will not be able to purchase or redeem the Fund&#8217;s shares. At times, the Fund may emphasize investments in a particular country or region and may be subject to greater risks from adverse events that occur in that country or region. Foreign securities and foreign currencies held in foreign banks and securities depositories may be subject to only limited or no regulatory oversight.<br/><br/>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<i><b>Risks of Developing and Emerging Markets.</b></i> Investments in developing and emerging markets are subject to all the risks associated with foreign investing, however, these risks may be magnified in developing and emerging markets. Developing or emerging market countries may have less well-developed securities markets and exchanges that may be substantially less liquid than those of more developed markets. Settlement procedures in developing or emerging markets may differ from those of more established securities markets, and settlement delays may result in the inability to invest assets or to dispose of portfolio securities in a timely manner. Securities prices in developing or emerging markets may be significantly more volatile than is the case in more developed nations of the world, and governments of developing or emerging market countries may also be more unstable than the governments of more developed countries. Such countries&#8217; economies may be more dependent on relatively few industries or investors that may be highly vulnerable to local and global changes. Developing or emerging market countries also may be subject to social, political or economic instability. The value of developing or emerging market countries&#8217; currencies may fluctuate more than the currencies of countries with more mature markets. Investments in developing or emerging market countries may be subject to greater risks of government restrictions, including confiscatory taxation, expropriation or nationalization of a company&#8217;s assets, restrictions on foreign ownership of local companies, restrictions on withdrawing assets from the country, protectionist measures, and practices such as share blocking. In addition, the ability of foreign entities to participate in privatization programs of certain developing or emerging market countries may be limited by local law. Investments in securities of issuers in developing or emerging market countries may be considered speculative.<br/><br/>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<i><b>Eurozone Investment Risks.</b></i> Certain of the regions in which the Fund may invest, including the European Union (EU), currently experience significant financial difficulties. Following the global economic crisis that began in 2008, some of these countries have depended on, and may continue to be dependent on, the assistance from others such as the European Central Bank (ECB) or other governments or institutions, and failure to implement reforms as a condition of assistance could have a significant adverse effect on the value of investments in those and other European countries. In addition, countries that have adopted the euro are subject to fiscal and monetary controls that could limit the ability to implement their own economic policies, and could voluntarily abandon, or be forced out of, the euro. Such events could impact the market values of Eurozone and various other securities and currencies, cause redenomination of certain securities into less valuable local currencies, and create more volatile and illiquid markets. Additionally, the United Kingdom&#8217;s intended departure from the EU, commonly known as &#8220;Brexit,&#8221; may have significant political and financial consequences for Eurozone markets, including greater market volatility and illiquidity, currency fluctuations, deterioration in economic activity, a decrease in business confidence and an increased likelihood of a recession in the United Kingdom.<i><br/><br/></i><b>Risks of Investing in Stocks.</b> The value of the Fund&#8217;s portfolio may be affected by changes in the stock markets. Stock markets may experience significant short-term volatility and may fall sharply at times. Adverse events in any part of the equity or fixed-income markets may have unexpected negative effects on other market segments. Different stock markets may behave differently from each other and U.S. stock markets may move in the opposite direction from one or more foreign stock markets.<br/><br/>The prices of individual stocks generally do not all move in the same direction at the same time. A variety of factors can negatively affect the price of a particular company&#8217;s stock. These factors may include, but are not limited to: poor earnings reports, a loss of customers, litigation against the company, general unfavorable performance of the company&#8217;s sector or industry, or changes in government regulations affecting the company or its industry. To the extent that securities of a particular type are emphasized (for example foreign stocks, stocks of small- or mid-cap companies, growth or value stocks, or stocks of companies in a particular industry), fund share values may fluctuate more in response to events affecting the market for those types of securities.<br/><br/><b>Affiliated Portfolio Risk.</b> In managing the Fund, the Manager and the Sub-Adviser will have authority to select and substitute Underlying Funds. The Manager and Sub-Adviser may be subject to potential conflicts of interest in selecting Underlying Funds because the fees paid to each by some Underlying Funds for its advisory services are higher than the fees paid by other Underlying Funds. However, the Manager and Sub-Adviser monitor the investment process to seek to identify, address and resolve any potential issues.<br/><br/><b>Who Is the Fund Designed For?</b> The Fund is designed primarily for investors seeking capital appreciation from a variety of global and international investments. Those investors should be willing to assume the risks of short-term share price fluctuations that are typical for foreign investments. The Fund is not a complete investment program. You should carefully consider your own investment goals and risk tolerance before investing in the Fund.<br/><br/><b>An investment in the Fund is not a deposit of any bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.</b> <b>The Fund&#8217;s Past Performance.</b> The bar chart and table below provide some indication of the risks of investing in the Fund by showing changes in the Fund&#8217;s performance (for Class A Shares) from calendar year to calendar year and by showing how the Fund&#8217;s average annual returns for the periods of time shown in the table compare with those of a broad measure of market performance. The Fund&#8217;s past investment performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future. Sales charges and taxes are not reflected in the bar chart and if those charges were included, returns would be less than those shown. More recent performance information is available by calling the toll-free number on the back of this prospectus and on the Fund&#8217;s website: <i>https://www.oppenheimerfunds.com/fund/InternationalDiversifiedFund</i> Sales charges and taxes are not included and the returns would be lower if they were. During the period shown, the highest return for a calendar quarter was 31.79% (2nd Qtr 09) and the lowest return for a calendar quarter was -20.90% (3rd Qtr 08). For the period from January 1, 2018 to March 31, 2018 the return before sales charges and taxes was 0.93%. The following table shows the average annual total returns for each class of the Fund&#8217;s shares. After-tax returns are calculated using the highest individual federal marginal income tax rates and do not reflect the impact of state or local taxes. Your actual after-tax returns, depending on your individual tax situation, may differ from those shown and after-tax returns shown are not relevant to investors who hold their Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. After-tax returns are shown for only one class and after-tax returns for other classes will vary. <b>Average Annual Total Returns </b>for the periods ended December 31, 2017 You may qualify for sales charge discounts if you (or you and your spouse) invest, or agree to invest in the future, at least $25,000 in certain funds in the Oppenheimer family of funds. Expenses have been restated to reflect current fees. one year from the date of this prospectus <i>These risks mean that you can lose money by investing in the Fund.</i> <b>An investment in the Fund is not a deposit of any bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.</b> The bar chart and table below provide some indication of the risks of investing in the Fund by showing changes in the Fund&#8217;s performance (for Class A Shares) from calendar year to calendar year and by showing how the Fund&#8217;s average annual returns for the periods of time shown in the table compare with those of a broad measure of market performance. <i>https://www.oppenheimerfunds.com/fund/InternationalDiversifiedFund</i> The Fund&#8217;s past investment performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future. Sales charges and taxes are not reflected in the bar chart and if those charges were included, returns would be less than those shown. After-tax returns are calculated using the highest individual federal marginal income tax rates and do not reflect the impact of state or local taxes. Your actual after-tax returns, depending on your individual tax situation, may differ from those shown and after-tax returns shown are not relevant to investors who hold their Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. After-tax returns are shown for only one class and after-tax returns for other classes will vary. 0.0575 0 0 0 0 0 0.01 0 0 0 0 0 0 0 0 0.0025 0.01 0.005 0 0 0.0021 0.0021 0.0021 0.0021 0.0005 0.0083 0.0083 0.0083 0.0083 0.0083 0.0129 0.0204 0.0154 0.0104 0.0088 0 0 0 -0.0005 0 0.0129 0.0204 0.0154 0.0099 0.0088 700 963 1246 2051 309 646 1109 2393 158 490 846 1848 101 328 572 1273 90 282 490 1089 700 963 1246 2051 209 646 1109 2393 158 490 846 1848 101 328 572 1273 90 282 490 1089 -0.439 0.4945 0.1778 -0.1511 0.2079 0.2442 -0.0626 0.0067 0.0063 0.324 0.2479 0.0808 0.0409 2005-09-27 0.2472 0.0791 0.0374 2005-09-27 0.1417 0.0634 0.0315 2005-09-27 0.3031 0.0855 0.0392 2005-09-27 0.3197 0.0908 0.0441 2005-09-27 0.3276 0.0965 0.05 2005-09-27 0.3297 0.0994 0.1134 2012-08-28 0.2719 0.068 0.0184 0.0809 25000 0.3 highest return 0.3179 2009-06-30 lowest return -0.209 2008-09-30 For the period from January 1, 2018 to March 31, 2018 2018-03-31 0.0093 <div style="display:none">~ http://www.oppenheimerfunds.com/role/ScheduleAnnualFundOperatingExpenses000013 column period compact * ~</div> <div style="display:none">~ http://www.oppenheimerfunds.com/role/ScheduleAnnualTotalReturnsBarChart000016 column period compact * ~</div> <div style="display:none">~ http://www.oppenheimerfunds.com/role/ScheduleExpenseExampleNoRedemptionTransposed000015 column period compact * ~</div> <div style="display:none">~ http://www.oppenheimerfunds.com/role/ScheduleExpenseExampleTransposed000014 column period compact * ~</div> <div style="display:none">~ http://www.oppenheimerfunds.com/role/ScheduleAverageAnnualTotalReturnsTransposed000017 column period compact * ~</div> <div style="display:none">~ http://www.oppenheimerfunds.com/role/ScheduleShareholderFees000012 column period compact * ~</div> Expenses have been restated to reflect current fees. After discussions with the Fund’s Board, the Manager has contractually agreed to waive its fees and/or reimburse the Fund for certain expenses in order to limit “Total Annual Fund Operating Expenses After Fee Waiver and/or Expense Reimbursement” (excluding any applicable dividend expense, taxes, interest and fees from borrowing, any subsidiary expenses, brokerage commissions, unusual and infrequent expenses and certain other Fund expenses) to an annual rate of 0.99% for Class Y shares as calculated on the daily net assets of the Fund. This fee waiver and/or expense reimbursement may not be amended or withdrawn for one year from the date of this prospectus, unless approved by the Board. 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Document Effective Date dei_DocumentEffectiveDate Jun. 28, 2018
Prospectus Date rr_ProspectusDate Jun. 28, 2018
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Oppenheimer International Diversified Fund
The Fund Summary
Investment Objective.
The Fund seeks capital appreciation.
Fees and Expenses of the Fund.
This table describes the fees and expenses that you may pay if you buy and hold or redeem shares of the Fund. You may qualify for sales charge discounts if you (or you and your spouse) invest, or agree to invest in the future, at least $25,000 in certain funds in the Oppenheimer family of funds. More information about these and other discounts and sales charge waivers is available from your financial professional and in the section “About Your Account” beginning on page 20 of the prospectus, in the appendix to the prospectus titled “Special Sales Charge Arrangements and Waivers” and in the section “How to Buy Shares” beginning on page 62 in the Fund’s Statement of Additional Information.
Shareholder Fees
(fees paid directly from your investment)
Shareholder Fees - Oppenheimer International Diversified Fund
Class A
Class C
Class R
Class Y
Class I
Maximum Sales Charge (Load) imposed on purchases (as % of offering price) 5.75% none none none none
Maximum Deferred Sales Charge (Load) (as % of the lower of original offering price or redemption proceeds) none 1.00% none none none
Annual Fund Operating Expenses

(expenses that you pay each year as a percentage of the value of your investment)
Annual Fund Operating Expenses - Oppenheimer International Diversified Fund
Class A
Class C
Class R
Class Y
Class I
Management Fees [1] none none none none none
Distribution and/or Service (12b-1) Fees [1] 0.25% 1.00% 0.50% none none
Other Expenses [1] 0.21% 0.21% 0.21% 0.21% 0.05%
Acquired Fund Fees and Expenses [1] 0.83% 0.83% 0.83% 0.83% 0.83%
Total Annual Fund Operating Expenses [1] 1.29% 2.04% 1.54% 1.04% 0.88%
Fee Waiver and/or Expense Reimbursement [1],[2] none none none (0.05%) none
Total Annual Fund Operating Expenses After Fee Waiver and/or Expense Reimbursement [1] 1.29% 2.04% 1.54% 0.99% 0.88%
[1] Expenses have been restated to reflect current fees.
[2] After discussions with the Fund’s Board, the Manager has contractually agreed to waive its fees and/or reimburse the Fund for certain expenses in order to limit “Total Annual Fund Operating Expenses After Fee Waiver and/or Expense Reimbursement” (excluding any applicable dividend expense, taxes, interest and fees from borrowing, any subsidiary expenses, brokerage commissions, unusual and infrequent expenses and certain other Fund expenses) to an annual rate of 0.99% for Class Y shares as calculated on the daily net assets of the Fund. This fee waiver and/or expense reimbursement may not be amended or withdrawn for one year from the date of this prospectus, unless approved by the Board.
Example.
The following Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in a class of shares of the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same. Any applicable fee waivers and/or expense reimbursements are reflected in the below examples for the first year only. Although your actual costs may be higher or lower, based on these assumptions your expenses would be as follows:
If shares are redeemed
Expense Example - Oppenheimer International Diversified Fund - USD ($)
1 Year
3 Years
5 Years
10 Years
Class A 700 963 1,246 2,051
Class C 309 646 1,109 2,393
Class R 158 490 846 1,848
Class Y 101 328 572 1,273
Class I 90 282 490 1,089
If shares are not redeemed
Expense Example, No Redemption - Oppenheimer International Diversified Fund - USD ($)
1 Year
3 Years
5 Years
10 Years
Class A 700 963 1,246 2,051
Class C 209 646 1,109 2,393
Class R 158 490 846 1,848
Class Y 101 328 572 1,273
Class I 90 282 490 1,089
Portfolio Turnover.
The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in the annual fund operating expenses or in the Example, affect the Fund’s performance. During the most recent fiscal year, the Fund’s portfolio turnover rate was 30% of the average value of its portfolio.
Principal Investment Strategies.
The Fund is a special type of mutual fund known as a “fund of funds” because it primarily invests in other mutual funds. Those funds are referred to as the “Underlying Funds.” The Underlying Funds mainly invest in foreign equity securities, which are securities of companies organized under the laws of a foreign country, or with a substantial portion of their operations, assets, revenue or profits from businesses, investments or sales outside the United States or securities traded primarily in foreign securities markets. Certain Underlying Funds may invest 100% of their assets in securities of foreign companies. Some Underlying Funds may invest in emerging or developing markets as well as in developed markets throughout the world. From time to time an Underlying Fund may place greater emphasis on investing in one or more particular industry or region. Under normal market conditions, the Fund will invest in shares of some or all of the following Oppenheimer global or international funds that were chosen based on the Sub-Adviser’s determination that they could provide capital appreciation:
  • Oppenheimer Developing Markets Fund
  • Oppenheimer International Growth Fund
  • Oppenheimer International Small-Mid Company Fund
  • Oppenheimer International Equity Fund
The Fund will typically invest in a minimum of three of the Underlying Funds and will not invest more than 50% of its net assets in any single Underlying Fund. The Sub-Adviser may change the weightings in the Underlying Funds at any time, without prior approval from or notice to shareholders. “Normal market conditions” are when securities markets and economic conditions are not unstable or adverse, in the judgment of the Sub-Adviser.

The Sub-Adviser will monitor the markets and allocate assets among the Underlying Funds based on changing market or economic conditions and investment opportunities. In determining how much of the Fund’s assets to invest in an Underlying Fund, the Sub-Adviser will seek to diversify the Fund’s investments internationally and among different investment styles, larger and smaller market capitalizations and between developed and emerging markets. The Fund may also change its allocations based on the Sub-Adviser’s evaluation of economic factors that it believes are not reflected in particular markets in which one or more of the Underlying Funds invest or on current or anticipated changes in currency valuations. The Sub-Adviser monitors the Underlying Fund selections and in response to changing market or economic conditions, the Sub-Adviser may change any or all of the Underlying Funds, including using funds that may be created in the future, without prior approval from or notice to shareholders. Although the term “Underlying Funds” refers to Oppenheimer Developing Markets Fund, Oppenheimer International Growth Fund, Oppenheimer International Small-Mid Company Fund, and Oppenheimer International Equity Fund, for ease of reference, the Fund also uses the term “Underlying Funds” to refer to Underlying Funds that may be used in the future.

The Fund may hold a portion of its assets in cash, money market securities or other similar, liquid investments, including in shares of money market mutual funds in the Oppenheimer family of funds. This will generally occur at times when the Fund is unable to immediately invest funds received from purchases of Fund shares or from redemptions of other investments or to maintain liquidity.
Principal Risks.
The price of the Fund’s shares can go up and down substantially. The value of the Fund’s investments may change because of broad changes in the markets in which the Underlying Funds invest, because of Underlying Fund investment selection or the Fund’s asset allocation, which could cause the Fund to underperform other funds with similar objectives. There is no assurance that the Fund will achieve its investment objective. When you redeem your shares, they may be worth more or less than what you paid for them. These risks mean that you can lose money by investing in the Fund.

The following summarizes the risks that the Fund is subject to based on its investments in the Underlying Funds. The risks described below are risks to the Fund’s overall portfolio. These are generally different from the risks of any one Underlying Fund. While each Underlying Fund has its own particular risk characteristics, the strategy of allocating the Fund’s assets to different Underlying Funds may allow those risks to be offset to some extent.

Risks of Investing in the Underlying Funds. Each of the Underlying Funds has its own investment risks, and those risks can affect the value of the Fund’s investments and therefore the value of the Fund’s shares. To the extent that the Fund invests more of its assets in one Underlying Fund than in another, it will have greater exposure to the risks of that Underlying Fund. The investment objective and principal investment strategies of each of the Underlying Funds are described in the section “More Information About the Underlying Funds” beginning on page 44 of the Fund’s prospectus. There is no guarantee that the Fund or any Underlying Fund will achieve its investment objective. The Underlying Funds will each pursue their investment objectives and policies without the approval of the Fund. If an Underlying Fund were to change its investment objective or policies, the Fund may be forced to sell its shares of that Underlying Fund at a disadvantageous time. The prospectuses and Statements of Additional Information of the Underlying Funds are available without charge by calling toll free at 1.800.225.5677 and can also be viewed and downloaded on the OppenheimerFunds website at www.oppenheimerfunds.com.

Allocation Risk. The Fund’s ability to achieve its investment objective depends largely upon selecting the best mix of Underlying Funds. There is the risk that portfolio manager evaluations and assumptions regarding the Underlying Funds’ prospects may be incorrect in view of actual market conditions.

Risks of Foreign Investing. Foreign securities are subject to special risks. Securities traded in foreign markets may be less liquid and more volatile than those traded in U.S. markets. Foreign issuers are usually not subject to the same accounting and disclosure requirements that U.S. companies are subject to, which may make it difficult for the Fund to evaluate a foreign company’s operations or financial condition. A change in the value of a foreign currency against the U.S. dollar will result in a change in the U.S. dollar value of investments denominated in that foreign currency and in the value of any income or distributions the Fund may receive on those investments. The value of foreign investments may be affected by exchange control regulations, foreign taxes, higher transaction and other costs, delays in the settlement of transactions, changes in economic or monetary policy in the United States or abroad, expropriation or nationalization of a company’s assets, or other political and economic factors. In addition, due to the inter-relationship of global economies and financial markets, changes in political and economic factors in one country or region could adversely affect conditions in another country or region. Investments in foreign securities may also expose the Fund to time-zone arbitrage risk. Foreign securities may trade on weekends or other days when the Fund does not price its shares. As a result, the value of the Fund’s net assets may change on days when you will not be able to purchase or redeem the Fund’s shares. At times, the Fund may emphasize investments in a particular country or region and may be subject to greater risks from adverse events that occur in that country or region. Foreign securities and foreign currencies held in foreign banks and securities depositories may be subject to only limited or no regulatory oversight.

          Risks of Developing and Emerging Markets. Investments in developing and emerging markets are subject to all the risks associated with foreign investing, however, these risks may be magnified in developing and emerging markets. Developing or emerging market countries may have less well-developed securities markets and exchanges that may be substantially less liquid than those of more developed markets. Settlement procedures in developing or emerging markets may differ from those of more established securities markets, and settlement delays may result in the inability to invest assets or to dispose of portfolio securities in a timely manner. Securities prices in developing or emerging markets may be significantly more volatile than is the case in more developed nations of the world, and governments of developing or emerging market countries may also be more unstable than the governments of more developed countries. Such countries’ economies may be more dependent on relatively few industries or investors that may be highly vulnerable to local and global changes. Developing or emerging market countries also may be subject to social, political or economic instability. The value of developing or emerging market countries’ currencies may fluctuate more than the currencies of countries with more mature markets. Investments in developing or emerging market countries may be subject to greater risks of government restrictions, including confiscatory taxation, expropriation or nationalization of a company’s assets, restrictions on foreign ownership of local companies, restrictions on withdrawing assets from the country, protectionist measures, and practices such as share blocking. In addition, the ability of foreign entities to participate in privatization programs of certain developing or emerging market countries may be limited by local law. Investments in securities of issuers in developing or emerging market countries may be considered speculative.

          Eurozone Investment Risks. Certain of the regions in which the Fund may invest, including the European Union (EU), currently experience significant financial difficulties. Following the global economic crisis that began in 2008, some of these countries have depended on, and may continue to be dependent on, the assistance from others such as the European Central Bank (ECB) or other governments or institutions, and failure to implement reforms as a condition of assistance could have a significant adverse effect on the value of investments in those and other European countries. In addition, countries that have adopted the euro are subject to fiscal and monetary controls that could limit the ability to implement their own economic policies, and could voluntarily abandon, or be forced out of, the euro. Such events could impact the market values of Eurozone and various other securities and currencies, cause redenomination of certain securities into less valuable local currencies, and create more volatile and illiquid markets. Additionally, the United Kingdom’s intended departure from the EU, commonly known as “Brexit,” may have significant political and financial consequences for Eurozone markets, including greater market volatility and illiquidity, currency fluctuations, deterioration in economic activity, a decrease in business confidence and an increased likelihood of a recession in the United Kingdom.

Risks of Investing in Stocks. The value of the Fund’s portfolio may be affected by changes in the stock markets. Stock markets may experience significant short-term volatility and may fall sharply at times. Adverse events in any part of the equity or fixed-income markets may have unexpected negative effects on other market segments. Different stock markets may behave differently from each other and U.S. stock markets may move in the opposite direction from one or more foreign stock markets.

The prices of individual stocks generally do not all move in the same direction at the same time. A variety of factors can negatively affect the price of a particular company’s stock. These factors may include, but are not limited to: poor earnings reports, a loss of customers, litigation against the company, general unfavorable performance of the company’s sector or industry, or changes in government regulations affecting the company or its industry. To the extent that securities of a particular type are emphasized (for example foreign stocks, stocks of small- or mid-cap companies, growth or value stocks, or stocks of companies in a particular industry), fund share values may fluctuate more in response to events affecting the market for those types of securities.

Affiliated Portfolio Risk. In managing the Fund, the Manager and the Sub-Adviser will have authority to select and substitute Underlying Funds. The Manager and Sub-Adviser may be subject to potential conflicts of interest in selecting Underlying Funds because the fees paid to each by some Underlying Funds for its advisory services are higher than the fees paid by other Underlying Funds. However, the Manager and Sub-Adviser monitor the investment process to seek to identify, address and resolve any potential issues.

Who Is the Fund Designed For? The Fund is designed primarily for investors seeking capital appreciation from a variety of global and international investments. Those investors should be willing to assume the risks of short-term share price fluctuations that are typical for foreign investments. The Fund is not a complete investment program. You should carefully consider your own investment goals and risk tolerance before investing in the Fund.

An investment in the Fund is not a deposit of any bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.
The Fund’s Past Performance.
The bar chart and table below provide some indication of the risks of investing in the Fund by showing changes in the Fund’s performance (for Class A Shares) from calendar year to calendar year and by showing how the Fund’s average annual returns for the periods of time shown in the table compare with those of a broad measure of market performance. The Fund’s past investment performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future. Sales charges and taxes are not reflected in the bar chart and if those charges were included, returns would be less than those shown. More recent performance information is available by calling the toll-free number on the back of this prospectus and on the Fund’s website: https://www.oppenheimerfunds.com/fund/InternationalDiversifiedFund
Bar Chart
Sales charges and taxes are not included and the returns would be lower if they were. During the period shown, the highest return for a calendar quarter was 31.79% (2nd Qtr 09) and the lowest return for a calendar quarter was -20.90% (3rd Qtr 08). For the period from January 1, 2018 to March 31, 2018 the return before sales charges and taxes was 0.93%.
The following table shows the average annual total returns for each class of the Fund’s shares. After-tax returns are calculated using the highest individual federal marginal income tax rates and do not reflect the impact of state or local taxes. Your actual after-tax returns, depending on your individual tax situation, may differ from those shown and after-tax returns shown are not relevant to investors who hold their Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. After-tax returns are shown for only one class and after-tax returns for other classes will vary.
Average Annual Total Returns for the periods ended December 31, 2017
Average Annual Total Returns - Oppenheimer International Diversified Fund
1 Year
5 Years
10 Years
(or life of class, if less)
Inception Date
Class A Shares 24.79% 8.08% 4.09%   Sep. 27, 2005
Class A Shares | Return After Taxes on Distributions 24.72% 7.91% 3.74%   Sep. 27, 2005
Class A Shares | Return After Taxes on Distributions and Sale of Fund Shares 14.17% 6.34% 3.15%   Sep. 27, 2005
Class C Shares 30.31% 8.55% 3.92%   Sep. 27, 2005
Class R Shares 31.97% 9.08% 4.41%   Sep. 27, 2005
Class Y Shares 32.76% 9.65% 5.00%   Sep. 27, 2005
Class I Shares 32.97% 9.94%   11.34% Aug. 28, 2012
MSCI All Country World ex USA Index (reflects no deduction for fees, expense, and taxes) 27.19% 6.80% 1.84% 8.09% [1]  
[1] From 08/28/12
XML 12 R9.htm IDEA: XBRL DOCUMENT v3.10.0.1
Label Element Value
Risk/Return: rr_RiskReturnAbstract  
Registrant Name dei_EntityRegistrantName Oppenheimer International Diversified Fund
Prospectus Date rr_ProspectusDate Jun. 28, 2018
Oppenheimer International Diversified Fund  
Risk/Return: rr_RiskReturnAbstract  
Risk/Return [Heading] rr_RiskReturnHeading The Fund Summary
Objective [Heading] rr_ObjectiveHeading Investment Objective.
Objective, Primary [Text Block] rr_ObjectivePrimaryTextBlock The Fund seeks capital appreciation.
Expense [Heading] rr_ExpenseHeading Fees and Expenses of the Fund.
Expense Narrative [Text Block] rr_ExpenseNarrativeTextBlock This table describes the fees and expenses that you may pay if you buy and hold or redeem shares of the Fund. You may qualify for sales charge discounts if you (or you and your spouse) invest, or agree to invest in the future, at least $25,000 in certain funds in the Oppenheimer family of funds. More information about these and other discounts and sales charge waivers is available from your financial professional and in the section “About Your Account” beginning on page 20 of the prospectus, in the appendix to the prospectus titled “Special Sales Charge Arrangements and Waivers” and in the section “How to Buy Shares” beginning on page 62 in the Fund’s Statement of Additional Information.
Shareholder Fees Caption [Text] rr_ShareholderFeesCaption Shareholder Fees
(fees paid directly from your investment)
Operating Expenses Caption [Text] rr_OperatingExpensesCaption Annual Fund Operating Expenses

(expenses that you pay each year as a percentage of the value of your investment)
Fee Waiver or Reimbursement over Assets, Date of Termination rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination one year from the date of this prospectus
Portfolio Turnover [Heading] rr_PortfolioTurnoverHeading Portfolio Turnover.
Portfolio Turnover [Text Block] rr_PortfolioTurnoverTextBlock The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in the annual fund operating expenses or in the Example, affect the Fund’s performance. During the most recent fiscal year, the Fund’s portfolio turnover rate was 30% of the average value of its portfolio.
Portfolio Turnover, Rate rr_PortfolioTurnoverRate 30.00%
Expense Breakpoint Discounts [Text] rr_ExpenseBreakpointDiscounts You may qualify for sales charge discounts if you (or you and your spouse) invest, or agree to invest in the future, at least $25,000 in certain funds in the Oppenheimer family of funds.
Expense Breakpoint, Minimum Investment Required [Amount] rr_ExpenseBreakpointMinimumInvestmentRequiredAmount $ 25,000
Expenses Restated to Reflect Current [Text] rr_ExpensesRestatedToReflectCurrent Expenses have been restated to reflect current fees.
Expense Example [Heading] rr_ExpenseExampleHeading Example.
Expense Example Narrative [Text Block] rr_ExpenseExampleNarrativeTextBlock The following Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in a class of shares of the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same. Any applicable fee waivers and/or expense reimbursements are reflected in the below examples for the first year only. Although your actual costs may be higher or lower, based on these assumptions your expenses would be as follows:
Expense Example by, Year, Caption [Text] rr_ExpenseExampleByYearCaption If shares are redeemed
Expense Example, No Redemption, By Year, Caption [Text] rr_ExpenseExampleNoRedemptionByYearCaption If shares are not redeemed
Strategy [Heading] rr_StrategyHeading Principal Investment Strategies.
Strategy Narrative [Text Block] rr_StrategyNarrativeTextBlock The Fund is a special type of mutual fund known as a “fund of funds” because it primarily invests in other mutual funds. Those funds are referred to as the “Underlying Funds.” The Underlying Funds mainly invest in foreign equity securities, which are securities of companies organized under the laws of a foreign country, or with a substantial portion of their operations, assets, revenue or profits from businesses, investments or sales outside the United States or securities traded primarily in foreign securities markets. Certain Underlying Funds may invest 100% of their assets in securities of foreign companies. Some Underlying Funds may invest in emerging or developing markets as well as in developed markets throughout the world. From time to time an Underlying Fund may place greater emphasis on investing in one or more particular industry or region. Under normal market conditions, the Fund will invest in shares of some or all of the following Oppenheimer global or international funds that were chosen based on the Sub-Adviser’s determination that they could provide capital appreciation:
  • Oppenheimer Developing Markets Fund
  • Oppenheimer International Growth Fund
  • Oppenheimer International Small-Mid Company Fund
  • Oppenheimer International Equity Fund
The Fund will typically invest in a minimum of three of the Underlying Funds and will not invest more than 50% of its net assets in any single Underlying Fund. The Sub-Adviser may change the weightings in the Underlying Funds at any time, without prior approval from or notice to shareholders. “Normal market conditions” are when securities markets and economic conditions are not unstable or adverse, in the judgment of the Sub-Adviser.

The Sub-Adviser will monitor the markets and allocate assets among the Underlying Funds based on changing market or economic conditions and investment opportunities. In determining how much of the Fund’s assets to invest in an Underlying Fund, the Sub-Adviser will seek to diversify the Fund’s investments internationally and among different investment styles, larger and smaller market capitalizations and between developed and emerging markets. The Fund may also change its allocations based on the Sub-Adviser’s evaluation of economic factors that it believes are not reflected in particular markets in which one or more of the Underlying Funds invest or on current or anticipated changes in currency valuations. The Sub-Adviser monitors the Underlying Fund selections and in response to changing market or economic conditions, the Sub-Adviser may change any or all of the Underlying Funds, including using funds that may be created in the future, without prior approval from or notice to shareholders. Although the term “Underlying Funds” refers to Oppenheimer Developing Markets Fund, Oppenheimer International Growth Fund, Oppenheimer International Small-Mid Company Fund, and Oppenheimer International Equity Fund, for ease of reference, the Fund also uses the term “Underlying Funds” to refer to Underlying Funds that may be used in the future.

The Fund may hold a portion of its assets in cash, money market securities or other similar, liquid investments, including in shares of money market mutual funds in the Oppenheimer family of funds. This will generally occur at times when the Fund is unable to immediately invest funds received from purchases of Fund shares or from redemptions of other investments or to maintain liquidity.
Risk [Heading] rr_RiskHeading Principal Risks.
Risk Narrative [Text Block] rr_RiskNarrativeTextBlock The price of the Fund’s shares can go up and down substantially. The value of the Fund’s investments may change because of broad changes in the markets in which the Underlying Funds invest, because of Underlying Fund investment selection or the Fund’s asset allocation, which could cause the Fund to underperform other funds with similar objectives. There is no assurance that the Fund will achieve its investment objective. When you redeem your shares, they may be worth more or less than what you paid for them. These risks mean that you can lose money by investing in the Fund.

The following summarizes the risks that the Fund is subject to based on its investments in the Underlying Funds. The risks described below are risks to the Fund’s overall portfolio. These are generally different from the risks of any one Underlying Fund. While each Underlying Fund has its own particular risk characteristics, the strategy of allocating the Fund’s assets to different Underlying Funds may allow those risks to be offset to some extent.

Risks of Investing in the Underlying Funds. Each of the Underlying Funds has its own investment risks, and those risks can affect the value of the Fund’s investments and therefore the value of the Fund’s shares. To the extent that the Fund invests more of its assets in one Underlying Fund than in another, it will have greater exposure to the risks of that Underlying Fund. The investment objective and principal investment strategies of each of the Underlying Funds are described in the section “More Information About the Underlying Funds” beginning on page 44 of the Fund’s prospectus. There is no guarantee that the Fund or any Underlying Fund will achieve its investment objective. The Underlying Funds will each pursue their investment objectives and policies without the approval of the Fund. If an Underlying Fund were to change its investment objective or policies, the Fund may be forced to sell its shares of that Underlying Fund at a disadvantageous time. The prospectuses and Statements of Additional Information of the Underlying Funds are available without charge by calling toll free at 1.800.225.5677 and can also be viewed and downloaded on the OppenheimerFunds website at www.oppenheimerfunds.com.

Allocation Risk. The Fund’s ability to achieve its investment objective depends largely upon selecting the best mix of Underlying Funds. There is the risk that portfolio manager evaluations and assumptions regarding the Underlying Funds’ prospects may be incorrect in view of actual market conditions.

Risks of Foreign Investing. Foreign securities are subject to special risks. Securities traded in foreign markets may be less liquid and more volatile than those traded in U.S. markets. Foreign issuers are usually not subject to the same accounting and disclosure requirements that U.S. companies are subject to, which may make it difficult for the Fund to evaluate a foreign company’s operations or financial condition. A change in the value of a foreign currency against the U.S. dollar will result in a change in the U.S. dollar value of investments denominated in that foreign currency and in the value of any income or distributions the Fund may receive on those investments. The value of foreign investments may be affected by exchange control regulations, foreign taxes, higher transaction and other costs, delays in the settlement of transactions, changes in economic or monetary policy in the United States or abroad, expropriation or nationalization of a company’s assets, or other political and economic factors. In addition, due to the inter-relationship of global economies and financial markets, changes in political and economic factors in one country or region could adversely affect conditions in another country or region. Investments in foreign securities may also expose the Fund to time-zone arbitrage risk. Foreign securities may trade on weekends or other days when the Fund does not price its shares. As a result, the value of the Fund’s net assets may change on days when you will not be able to purchase or redeem the Fund’s shares. At times, the Fund may emphasize investments in a particular country or region and may be subject to greater risks from adverse events that occur in that country or region. Foreign securities and foreign currencies held in foreign banks and securities depositories may be subject to only limited or no regulatory oversight.

          Risks of Developing and Emerging Markets. Investments in developing and emerging markets are subject to all the risks associated with foreign investing, however, these risks may be magnified in developing and emerging markets. Developing or emerging market countries may have less well-developed securities markets and exchanges that may be substantially less liquid than those of more developed markets. Settlement procedures in developing or emerging markets may differ from those of more established securities markets, and settlement delays may result in the inability to invest assets or to dispose of portfolio securities in a timely manner. Securities prices in developing or emerging markets may be significantly more volatile than is the case in more developed nations of the world, and governments of developing or emerging market countries may also be more unstable than the governments of more developed countries. Such countries’ economies may be more dependent on relatively few industries or investors that may be highly vulnerable to local and global changes. Developing or emerging market countries also may be subject to social, political or economic instability. The value of developing or emerging market countries’ currencies may fluctuate more than the currencies of countries with more mature markets. Investments in developing or emerging market countries may be subject to greater risks of government restrictions, including confiscatory taxation, expropriation or nationalization of a company’s assets, restrictions on foreign ownership of local companies, restrictions on withdrawing assets from the country, protectionist measures, and practices such as share blocking. In addition, the ability of foreign entities to participate in privatization programs of certain developing or emerging market countries may be limited by local law. Investments in securities of issuers in developing or emerging market countries may be considered speculative.

          Eurozone Investment Risks. Certain of the regions in which the Fund may invest, including the European Union (EU), currently experience significant financial difficulties. Following the global economic crisis that began in 2008, some of these countries have depended on, and may continue to be dependent on, the assistance from others such as the European Central Bank (ECB) or other governments or institutions, and failure to implement reforms as a condition of assistance could have a significant adverse effect on the value of investments in those and other European countries. In addition, countries that have adopted the euro are subject to fiscal and monetary controls that could limit the ability to implement their own economic policies, and could voluntarily abandon, or be forced out of, the euro. Such events could impact the market values of Eurozone and various other securities and currencies, cause redenomination of certain securities into less valuable local currencies, and create more volatile and illiquid markets. Additionally, the United Kingdom’s intended departure from the EU, commonly known as “Brexit,” may have significant political and financial consequences for Eurozone markets, including greater market volatility and illiquidity, currency fluctuations, deterioration in economic activity, a decrease in business confidence and an increased likelihood of a recession in the United Kingdom.

Risks of Investing in Stocks. The value of the Fund’s portfolio may be affected by changes in the stock markets. Stock markets may experience significant short-term volatility and may fall sharply at times. Adverse events in any part of the equity or fixed-income markets may have unexpected negative effects on other market segments. Different stock markets may behave differently from each other and U.S. stock markets may move in the opposite direction from one or more foreign stock markets.

The prices of individual stocks generally do not all move in the same direction at the same time. A variety of factors can negatively affect the price of a particular company’s stock. These factors may include, but are not limited to: poor earnings reports, a loss of customers, litigation against the company, general unfavorable performance of the company’s sector or industry, or changes in government regulations affecting the company or its industry. To the extent that securities of a particular type are emphasized (for example foreign stocks, stocks of small- or mid-cap companies, growth or value stocks, or stocks of companies in a particular industry), fund share values may fluctuate more in response to events affecting the market for those types of securities.

Affiliated Portfolio Risk. In managing the Fund, the Manager and the Sub-Adviser will have authority to select and substitute Underlying Funds. The Manager and Sub-Adviser may be subject to potential conflicts of interest in selecting Underlying Funds because the fees paid to each by some Underlying Funds for its advisory services are higher than the fees paid by other Underlying Funds. However, the Manager and Sub-Adviser monitor the investment process to seek to identify, address and resolve any potential issues.

Who Is the Fund Designed For? The Fund is designed primarily for investors seeking capital appreciation from a variety of global and international investments. Those investors should be willing to assume the risks of short-term share price fluctuations that are typical for foreign investments. The Fund is not a complete investment program. You should carefully consider your own investment goals and risk tolerance before investing in the Fund.

An investment in the Fund is not a deposit of any bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.
Risk Lose Money [Text] rr_RiskLoseMoney These risks mean that you can lose money by investing in the Fund.
Risk Not Insured Depository Institution [Text] rr_RiskNotInsuredDepositoryInstitution An investment in the Fund is not a deposit of any bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.
Bar Chart and Performance Table [Heading] rr_BarChartAndPerformanceTableHeading The Fund’s Past Performance.
Performance Narrative [Text Block] rr_PerformanceNarrativeTextBlock The bar chart and table below provide some indication of the risks of investing in the Fund by showing changes in the Fund’s performance (for Class A Shares) from calendar year to calendar year and by showing how the Fund’s average annual returns for the periods of time shown in the table compare with those of a broad measure of market performance. The Fund’s past investment performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future. Sales charges and taxes are not reflected in the bar chart and if those charges were included, returns would be less than those shown. More recent performance information is available by calling the toll-free number on the back of this prospectus and on the Fund’s website: https://www.oppenheimerfunds.com/fund/InternationalDiversifiedFund
Performance Information Illustrates Variability of Returns [Text] rr_PerformanceInformationIllustratesVariabilityOfReturns The bar chart and table below provide some indication of the risks of investing in the Fund by showing changes in the Fund’s performance (for Class A Shares) from calendar year to calendar year and by showing how the Fund’s average annual returns for the periods of time shown in the table compare with those of a broad measure of market performance.
Performance Availability Website Address [Text] rr_PerformanceAvailabilityWebSiteAddress https://www.oppenheimerfunds.com/fund/InternationalDiversifiedFund
Performance Past Does Not Indicate Future [Text] rr_PerformancePastDoesNotIndicateFuture The Fund’s past investment performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future.
Bar Chart Does Not Reflect Sales Loads [Text] rr_BarChartDoesNotReflectSalesLoads Sales charges and taxes are not reflected in the bar chart and if those charges were included, returns would be less than those shown.
Bar Chart Closing [Text Block] rr_BarChartClosingTextBlock Sales charges and taxes are not included and the returns would be lower if they were. During the period shown, the highest return for a calendar quarter was 31.79% (2nd Qtr 09) and the lowest return for a calendar quarter was -20.90% (3rd Qtr 08). For the period from January 1, 2018 to March 31, 2018 the return before sales charges and taxes was 0.93%.
Performance Table Heading rr_PerformanceTableHeading Average Annual Total Returns for the periods ended December 31, 2017
Performance Table Uses Highest Federal Rate rr_PerformanceTableUsesHighestFederalRate After-tax returns are calculated using the highest individual federal marginal income tax rates and do not reflect the impact of state or local taxes.
Performance Table Not Relevant to Tax Deferred rr_PerformanceTableNotRelevantToTaxDeferred Your actual after-tax returns, depending on your individual tax situation, may differ from those shown and after-tax returns shown are not relevant to investors who hold their Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts.
Performance Table One Class of after Tax Shown [Text] rr_PerformanceTableOneClassOfAfterTaxShown After-tax returns are shown for only one class and after-tax returns for other classes will vary.
Performance Table Narrative rr_PerformanceTableNarrativeTextBlock The following table shows the average annual total returns for each class of the Fund’s shares. After-tax returns are calculated using the highest individual federal marginal income tax rates and do not reflect the impact of state or local taxes. Your actual after-tax returns, depending on your individual tax situation, may differ from those shown and after-tax returns shown are not relevant to investors who hold their Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. After-tax returns are shown for only one class and after-tax returns for other classes will vary.
Oppenheimer International Diversified Fund | Class A  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) imposed on purchases (as % of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice 5.75%
Maximum Deferred Sales Charge (Load) (as % of the lower of original offering price or redemption proceeds) rr_MaximumDeferredSalesChargeOverOther none
Management Fees rr_ManagementFeesOverAssets none [1]
Distribution and/or Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 0.25% [1]
Other Expenses rr_OtherExpensesOverAssets 0.21% [1]
Acquired Fund Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.83% [1]
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 1.29% [1]
Fee Waiver and/or Expense Reimbursement rr_FeeWaiverOrReimbursementOverAssets none [1],[2]
Total Annual Fund Operating Expenses After Fee Waiver and/or Expense Reimbursement rr_NetExpensesOverAssets 1.29% [1]
1 Year rr_ExpenseExampleYear01 $ 700
3 Years rr_ExpenseExampleYear03 963
5 Years rr_ExpenseExampleYear05 1,246
10 Years rr_ExpenseExampleYear10 2,051
1 Year rr_ExpenseExampleNoRedemptionYear01 700
3 Years rr_ExpenseExampleNoRedemptionYear03 963
5 Years rr_ExpenseExampleNoRedemptionYear05 1,246
10 Years rr_ExpenseExampleNoRedemptionYear10 $ 2,051
2008 rr_AnnualReturn2008 (43.90%)
2009 rr_AnnualReturn2009 49.45%
2010 rr_AnnualReturn2010 17.78%
2011 rr_AnnualReturn2011 (15.11%)
2012 rr_AnnualReturn2012 20.79%
2013 rr_AnnualReturn2013 24.42%
2014 rr_AnnualReturn2014 (6.26%)
2015 rr_AnnualReturn2015 0.67%
2016 rr_AnnualReturn2016 0.63%
2017 rr_AnnualReturn2017 32.40%
Year to Date Return, Label rr_YearToDateReturnLabel For the period from January 1, 2018 to March 31, 2018
Bar Chart, Year to Date Return, Date rr_BarChartYearToDateReturnDate Mar. 31, 2018
Bar Chart, Year to Date Return rr_BarChartYearToDateReturn 0.93%
Highest Quarterly Return, Label rr_HighestQuarterlyReturnLabel highest return
Highest Quarterly Return, Date rr_BarChartHighestQuarterlyReturnDate Jun. 30, 2009
Highest Quarterly Return rr_BarChartHighestQuarterlyReturn 31.79%
Lowest Quarterly Return, Label rr_LowestQuarterlyReturnLabel lowest return
Lowest Quarterly Return, Date rr_BarChartLowestQuarterlyReturnDate Sep. 30, 2008
Lowest Quarterly Return rr_BarChartLowestQuarterlyReturn (20.90%)
1 Year rr_AverageAnnualReturnYear01 24.79%
5 Years rr_AverageAnnualReturnYear05 8.08%
10 Years rr_AverageAnnualReturnYear10 4.09%
Inception Date rr_AverageAnnualReturnInceptionDate Sep. 27, 2005
Oppenheimer International Diversified Fund | Class C  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) imposed on purchases (as % of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum Deferred Sales Charge (Load) (as % of the lower of original offering price or redemption proceeds) rr_MaximumDeferredSalesChargeOverOther 1.00%
Management Fees rr_ManagementFeesOverAssets none [1]
Distribution and/or Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 1.00% [1]
Other Expenses rr_OtherExpensesOverAssets 0.21% [1]
Acquired Fund Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.83% [1]
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 2.04% [1]
Fee Waiver and/or Expense Reimbursement rr_FeeWaiverOrReimbursementOverAssets none [1],[2]
Total Annual Fund Operating Expenses After Fee Waiver and/or Expense Reimbursement rr_NetExpensesOverAssets 2.04% [1]
1 Year rr_ExpenseExampleYear01 $ 309
3 Years rr_ExpenseExampleYear03 646
5 Years rr_ExpenseExampleYear05 1,109
10 Years rr_ExpenseExampleYear10 2,393
1 Year rr_ExpenseExampleNoRedemptionYear01 209
3 Years rr_ExpenseExampleNoRedemptionYear03 646
5 Years rr_ExpenseExampleNoRedemptionYear05 1,109
10 Years rr_ExpenseExampleNoRedemptionYear10 $ 2,393
1 Year rr_AverageAnnualReturnYear01 30.31%
5 Years rr_AverageAnnualReturnYear05 8.55%
10 Years rr_AverageAnnualReturnYear10 3.92%
Inception Date rr_AverageAnnualReturnInceptionDate Sep. 27, 2005
Oppenheimer International Diversified Fund | Class R  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) imposed on purchases (as % of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum Deferred Sales Charge (Load) (as % of the lower of original offering price or redemption proceeds) rr_MaximumDeferredSalesChargeOverOther none
Management Fees rr_ManagementFeesOverAssets none [1]
Distribution and/or Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 0.50% [1]
Other Expenses rr_OtherExpensesOverAssets 0.21% [1]
Acquired Fund Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.83% [1]
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 1.54% [1]
Fee Waiver and/or Expense Reimbursement rr_FeeWaiverOrReimbursementOverAssets none [1],[2]
Total Annual Fund Operating Expenses After Fee Waiver and/or Expense Reimbursement rr_NetExpensesOverAssets 1.54% [1]
1 Year rr_ExpenseExampleYear01 $ 158
3 Years rr_ExpenseExampleYear03 490
5 Years rr_ExpenseExampleYear05 846
10 Years rr_ExpenseExampleYear10 1,848
1 Year rr_ExpenseExampleNoRedemptionYear01 158
3 Years rr_ExpenseExampleNoRedemptionYear03 490
5 Years rr_ExpenseExampleNoRedemptionYear05 846
10 Years rr_ExpenseExampleNoRedemptionYear10 $ 1,848
1 Year rr_AverageAnnualReturnYear01 31.97%
5 Years rr_AverageAnnualReturnYear05 9.08%
10 Years rr_AverageAnnualReturnYear10 4.41%
Inception Date rr_AverageAnnualReturnInceptionDate Sep. 27, 2005
Oppenheimer International Diversified Fund | Class Y  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) imposed on purchases (as % of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum Deferred Sales Charge (Load) (as % of the lower of original offering price or redemption proceeds) rr_MaximumDeferredSalesChargeOverOther none
Management Fees rr_ManagementFeesOverAssets none [1]
Distribution and/or Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets none [1]
Other Expenses rr_OtherExpensesOverAssets 0.21% [1]
Acquired Fund Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.83% [1]
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 1.04% [1]
Fee Waiver and/or Expense Reimbursement rr_FeeWaiverOrReimbursementOverAssets (0.05%) [1],[2]
Total Annual Fund Operating Expenses After Fee Waiver and/or Expense Reimbursement rr_NetExpensesOverAssets 0.99% [1]
1 Year rr_ExpenseExampleYear01 $ 101
3 Years rr_ExpenseExampleYear03 328
5 Years rr_ExpenseExampleYear05 572
10 Years rr_ExpenseExampleYear10 1,273
1 Year rr_ExpenseExampleNoRedemptionYear01 101
3 Years rr_ExpenseExampleNoRedemptionYear03 328
5 Years rr_ExpenseExampleNoRedemptionYear05 572
10 Years rr_ExpenseExampleNoRedemptionYear10 $ 1,273
1 Year rr_AverageAnnualReturnYear01 32.76%
5 Years rr_AverageAnnualReturnYear05 9.65%
10 Years rr_AverageAnnualReturnYear10 5.00%
Inception Date rr_AverageAnnualReturnInceptionDate Sep. 27, 2005
Oppenheimer International Diversified Fund | Class I  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) imposed on purchases (as % of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum Deferred Sales Charge (Load) (as % of the lower of original offering price or redemption proceeds) rr_MaximumDeferredSalesChargeOverOther none
Management Fees rr_ManagementFeesOverAssets none [1]
Distribution and/or Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets none [1]
Other Expenses rr_OtherExpensesOverAssets 0.05% [1]
Acquired Fund Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.83% [1]
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 0.88% [1]
Fee Waiver and/or Expense Reimbursement rr_FeeWaiverOrReimbursementOverAssets none [1],[2]
Total Annual Fund Operating Expenses After Fee Waiver and/or Expense Reimbursement rr_NetExpensesOverAssets 0.88% [1]
1 Year rr_ExpenseExampleYear01 $ 90
3 Years rr_ExpenseExampleYear03 282
5 Years rr_ExpenseExampleYear05 490
10 Years rr_ExpenseExampleYear10 1,089
1 Year rr_ExpenseExampleNoRedemptionYear01 90
3 Years rr_ExpenseExampleNoRedemptionYear03 282
5 Years rr_ExpenseExampleNoRedemptionYear05 490
10 Years rr_ExpenseExampleNoRedemptionYear10 $ 1,089
1 Year rr_AverageAnnualReturnYear01 32.97%
5 Years rr_AverageAnnualReturnYear05 9.94%
(or life of class, if less) rr_AverageAnnualReturnSinceInception 11.34%
Inception Date rr_AverageAnnualReturnInceptionDate Aug. 28, 2012
Oppenheimer International Diversified Fund | Return After Taxes on Distributions | Class A  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 24.72%
5 Years rr_AverageAnnualReturnYear05 7.91%
10 Years rr_AverageAnnualReturnYear10 3.74%
Inception Date rr_AverageAnnualReturnInceptionDate Sep. 27, 2005
Oppenheimer International Diversified Fund | Return After Taxes on Distributions and Sale of Fund Shares | Class A  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 14.17%
5 Years rr_AverageAnnualReturnYear05 6.34%
10 Years rr_AverageAnnualReturnYear10 3.15%
Inception Date rr_AverageAnnualReturnInceptionDate Sep. 27, 2005
Oppenheimer International Diversified Fund | MSCI All Country World ex USA Index (reflects no deduction for fees, expense, and taxes)  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 27.19%
5 Years rr_AverageAnnualReturnYear05 6.80%
10 Years rr_AverageAnnualReturnYear10 1.84%
(or life of class, if less) rr_AverageAnnualReturnSinceInception 8.09% [3]
[1] Expenses have been restated to reflect current fees.
[2] After discussions with the Fund’s Board, the Manager has contractually agreed to waive its fees and/or reimburse the Fund for certain expenses in order to limit “Total Annual Fund Operating Expenses After Fee Waiver and/or Expense Reimbursement” (excluding any applicable dividend expense, taxes, interest and fees from borrowing, any subsidiary expenses, brokerage commissions, unusual and infrequent expenses and certain other Fund expenses) to an annual rate of 0.99% for Class Y shares as calculated on the daily net assets of the Fund. This fee waiver and/or expense reimbursement may not be amended or withdrawn for one year from the date of this prospectus, unless approved by the Board.
[3] From 08/28/12
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Prospectus Date rr_ProspectusDate Jun. 28, 2018
Document Creation Date dei_DocumentCreationDate Jun. 28, 2018
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