Last night's Lipper Fund Awards in New York City has unleashed a torrent of press releases from mutual fund firms trumpeting their awards. OppenheimerFunds also came out with a press release and took a step further by running print and online advertisements to promote its victory.

Bob Grill OppenheimerFunds SVP, Marketing

The ads started running today and will continue to appear through April 5, said Bob Grill, senior vice president of marketing, in an interview with The MFWire. OppenheimerFunds developed the ads with Euro RSCG, which has served as its ad agency for more than a decade.

OppenheimerFunds has taken out ads in the print and online versions of The Wall Street Journal, Barron's and InvestmentNews. Ads are also appearing on Bloomberg.com, CNNMoney.com and Yahoo Finance.

Typically, such an ad campaign costs more than a million dollars.

Three of the New York City-based Oppenheimer's funds bagged awards: Oppenheimer Developing Markets Class Y, Oppenheimer International Bond Class Y and Oppenheimer Gold & Special Minerals Class A.

"229 Emerging Markets Funds Didn't Win," read one of the ads that ran in the print edition of today's Wall Street Journal. "1 Did."

When the current ad campaign is over, Oppenheimer will run ads that will spotlight its tax-free and global offerings, Grill said.  

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