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AS FILED ELECTRONICALLY WITH THE SECURITIES AND EXCHANGE COMMISSION ON
DECEMBER 22, 2015
SECURITIES ACT FILE NO. 333-[ ]
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-14
REGISTRATION STATEMENT
UNDER
THE SECURITIES ACT OF 1933 | x | |||
Pre-Effective Amendment No. | ¨ | |||
Post-Effective Amendment No. | ¨ |
COLUMBIA FUNDS SERIES TRUST I
(Exact Name of Registrant as Specified in Charter)
225 Franklin Street, Boston, Massachusetts 02110
(Address of Principal Executive Offices) (Zip Code)
Registrant’s Telephone Number, Including Area Code: (800) 345-6611
Christopher O. Petersen, Esq.
c/o Columbia Management Investment Advisers, LLC
225 Franklin Street,
Boston, Massachusetts 02110
(Name and Address of Agent for Service)
With a copy to:
Brian D. McCabe, Esq.
Ropes & Gray LLP
Prudential Tower
800 Boylston Street
Boston, MA 02199
TITLE OF SECURITIES BEING REGISTERED:
Class A, Class C, Class I, Class R, Class R4, Class R5, Class W, Class Y and Class Z shares of the Columbia Contrarian Core Fund series of the Registrant.
Class A, Class B, Class C, Class I, Class R, Class R4, Class R5, Class W and Class Z shares of the Columbia Large Cap Growth Fund series of the Registrant.
Approximate Date of Proposed Public Offering: As soon as practicable after the effective date of this Registration Statement.
No filing fee is required because an indefinite number of shares have previously been registered pursuant to Rule 24f-2 under the Investment Company Act of 1940.
It is proposed that this filing will become effective on January 21, 2016 pursuant to Rule 488 under the Securities Act of 1933.
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Columbia Value and Restructuring Fund
Columbia Large Cap Growth Fund II
Columbia Large Cap Growth Fund III
Columbia Large Cap Growth Fund IV
Columbia Large Cap Growth Fund V
Columbia Multi-Advisor Small Cap Value Fund
Columbia International Value Fund
Columbia International Opportunities Fund
COMBINED PROXY STATEMENT/PROSPECTUS
[•], 2016
This is a brief overview of the reorganization proposed for your fund. We encourage you to read the full text of the enclosed combined proxy statement/prospectus.
Q: Why are you sending me this information?
Funds are required to obtain shareholder approval for certain kinds of changes, like the reorganizations proposed in the enclosed combined proxy statement/prospectus. As a shareholder of one or more of the above-listed Funds, you are being asked to vote on a reorganization involving your fund.
Q: What is a fund reorganization?
A fund reorganization involves one fund transferring all of its assets and liabilities to another fund in exchange for shares of such fund. Once completed, shareholders of the selling fund will hold shares of the buying fund.
Q: Is my vote important?
Absolutely! While the board of trustees (the “Board”) of each fund listed above has reviewed its proposed reorganization and recommends that you approve it, these proposals generally cannot go forward without the approval of shareholders of the Selling Funds (defined below). A fund will continue to contact shareholders asking them to vote until it is sure that a quorum will be reached, and may continue to contact shareholders thereafter.
Q: What are the proposals?
Shareholders are being asked to vote on the reorganization (a “Reorganization”) of one or more funds (each a “Selling Fund” and together, the “Selling Funds”) into other corresponding funds (each a “Buying Fund” and together, the “Buying Funds”), as noted in the table below:
Selling Fund | Buying Fund | |
Columbia Value and Restructuring Fund | Columbia Contrarian Core Fund | |
Columbia Large Cap Growth Fund II | Columbia Large Cap Growth Fund | |
Columbia Large Cap Growth Fund III | Columbia Large Cap Growth Fund | |
Columbia Large Cap Growth Fund IV | Columbia Large Cap Growth Fund | |
Columbia Large Cap Growth Fund V | Columbia Large Cap Growth Fund | |
Columbia Multi-Advisor Small Cap Value Fund | Columbia Select Smaller-Cap Value Fund | |
Columbia International Value Fund | Columbia Overseas Value Fund | |
Columbia International Opportunities Fund | Columbia Select International Equity Fund |
If the Reorganization of your Selling Fund is approved by shareholders and the other closing conditions are met, your shares of the Selling Fund will, in effect, be converted into shares of the corresponding Buying Fund with the same aggregate net asset value as the aggregate net asset value of your Selling Fund shares at the time of the Reorganization. (The Selling Funds and the Buying Funds are referred to individually or collectively as a “Fund” or the “Funds.”) While the aggregate net asset value of your shares will not change as a result of the Reorganization, the number of shares you hold may differ based on each Fund’s net asset value.
We encourage you to read the full text of the enclosed combined proxy statement/prospectus to obtain a more detailed understanding of the issues relating to each proposed Reorganization.
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Q: Why are the Reorganizations being proposed?
Columbia Management Investment Advisers, LLC, the Funds’ investment manager (“Columbia Threadneedle”), proposed the Reorganizations to each Board in order to streamline the product offerings of the funds managed by Columbia Threadneedle (the “Columbia Funds”), so that management, distribution and other resources can be focused more effectively on a smaller group of funds. The Reorganization of each Selling Fund into the corresponding Buying Fund will enable shareholders of each Selling Fund to invest in a larger, potentially more efficient portfolio while continuing to pursue a similar or, in some cases, the same investment strategy. As noted below, it is expected that following the proposed Reorganization, the expenses borne by Selling Fund shareholders would generally be the same or lower than the expenses they currently bear.
Q: Will there be any changes to the options or services associated with my account as a result of the Reorganizations?
Account-level features and options such as dividend distributions, dividend diversification, automatic investment plans, systematic withdrawals and dollar cost averaging will automatically carry over from accounts in each Selling Fund to accounts in the corresponding Buying Fund.
Q: Are there costs or tax consequences of the Reorganizations?
You will not pay any sales charges in connection with the Reorganizations. Reorganization costs may be allocated to each Fund, but will be limited to an amount that is not more than the anticipated reduction in expenses borne by the Fund’s shareholders during the first year following the Reorganization. Each Reorganization is expected to be tax-free for U.S. federal income tax purposes. Accordingly, it is expected that Selling Fund shareholders will not and the Selling Fund generally will not recognize gain or loss as a direct result of a Reorganization, as described in more detail in the section of the combined proxy statement/prospectus entitled “Tax Status of the Reorganizations.” A portion of the portfolio assets of a Selling Fund may be sold in connection with its Reorganization. Any such sales will cause such Selling Fund to incur transaction costs and may result in a taxable distribution of gains to shareholders. Additionally, because each Reorganization will end the tax year of the applicable Selling Fund, it will accelerate distributions to shareholders from the Selling Fund for its short tax year ending on the date of the Reorganization. Those tax year-end distributions will be taxable, and will include any distributable, but not previously distributed, capital gains resulting from portfolio turnover prior to consummation of the Reorganization.
Q: Will there be any changes to my fees and expenses as a result of the Reorganizations?
It is expected that, following the proposed Reorganizations, the expenses borne by Selling Fund shareholders would generally be the same as or lower than the expenses they currently bear, as described in detail in the combined proxy statement/prospectus under “Reorganization Proposals – Summary – Fees and Expenses.”
Q: If approved, when will the Reorganizations happen?
The Reorganizations will take place following shareholder approval of each Reorganization, and are expected to close in the second quarter of 2016.
Q: How does my Board recommend that I vote?
After careful consideration, your Board recommends that you vote FOR the Reorganization of your Selling Fund.
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Q: How can I vote?
You can vote in one of four ways:
• | By telephone (call the toll free number listed on your proxy card) |
• | By internet (log on to the internet site listed on your proxy card) |
• | By mail (using the enclosed postage prepaid envelope) |
• | In person at the shareholder meeting scheduled to occur at 225 Franklin Street, Boston, MA (32nd Floor, Room 3200) on April 15, 2016 |
The deadline for voting by telephone or internet is 11:59 P.M. E.T. on April 14, 2016. We encourage you to vote as soon as possible to avoid the cost of additional solicitation efforts. Please refer to the enclosed proxy card for instructions for voting by telephone, internet or mail.
Q: Will I be notified of the results of the vote?
The final voting results for each proposal also will be included in each Selling Fund’s next report to shareholders following the special shareholder meeting.
Q: Whom should I call if I have questions?
If you have questions about any of the proposals described in the combined proxy statement/prospectus or about voting procedures, please call the Selling Funds’ proxy solicitor, Computershare Fund Services, toll free at 800-708-7953. Shareholders of Selling Funds for which a Reorganization is effected within 60 days following the completion of its fiscal year or half year may call 800-345-6611 to request a copy of the Selling Fund’s final report to shareholders for that period.
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NOTICE OF A JOINT SPECIAL MEETING OF SHAREHOLDERS
Columbia Funds Series Trust
Columbia Large Cap Growth Fund II
Columbia Large Cap Growth Fund III
Columbia Large Cap Growth Fund V
Columbia International Value Fund
Columbia International Opportunities Fund
Columbia Funds Series Trust I
Columbia Value and Restructuring Fund
Columbia Funds Series Trust II
Columbia Large Cap Growth Fund IV
Columbia Multi-Advisor Small Cap Value Fund
To be held April 15, 2016
A Joint Special Meeting of Shareholders (the “Meeting”) of each of the funds listed above (each a “Selling Fund”) will be held at 10:00 a.m. ET on April 15, 2016, at 225 Franklin Street, Boston, MA (32nd Floor, Room 3200). At the Meeting, shareholders will consider, with respect to their Selling Fund:
To approve the Agreement and Plan of Reorganization (the “Agreement”) by and among Columbia Funds Series Trust, on behalf of its Columbia Large Cap Growth Fund II, Columbia Large Cap Growth Fund III, Columbia Large Cap Growth Fund V, Columbia International Value Fund and Columbia International Opportunities Fund series, Columbia Funds Series Trust I, on behalf of its Columbia Value and Restructuring Fund series, Columbia Funds Series Trust II, on behalf of its Columbia Large Cap Growth Fund IV and Columbia Multi-Advisor Small Cap Value Fund series, certain other registered investment companies and Columbia Management Investment Advisers, LLC, pursuant to which each Selling Fund, as indicated below, will transfer that portion of its assets attributable to each class of its shares (in aggregate, all of its assets) to the corresponding buying fund, as indicated below (each a “Buying Fund”), in exchange for shares of a corresponding class of the Buying Fund and the assumption by the Buying Fund of all of the liabilities of the corresponding Selling Fund. Shares of each class of the Buying Fund will be distributed proportionately to shareholders of the relevant class of the Selling Fund.
Shareholders of each Selling Fund will vote separately on the proposal, as shown below.
Selling Fund | Buying Fund | Proposal # | ||
Columbia Value and Restructuring Fund | Columbia Contrarian Core Fund | 1 | ||
Columbia Large Cap Growth Fund II | Columbia Large Cap Growth Fund | 2 | ||
Columbia Large Cap Growth Fund III | Columbia Large Cap Growth Fund | 2 | ||
Columbia Large Cap Growth Fund IV | Columbia Large Cap Growth Fund | 2 | ||
Columbia Large Cap Growth Fund V | Columbia Large Cap Growth Fund | 2 | ||
Columbia Multi-Advisor Small Cap Value Fund | Columbia Select Smaller-Cap Value Fund | 3 | ||
Columbia International Value Fund | Columbia Overseas Value Fund | 4 | ||
Columbia International Opportunities Fund | Columbia Select International Equity Fund | 5 |
Please carefully read the enclosed combined proxy statement/prospectus, as it discusses these proposals in more detail. If you were a shareholder of a Selling Fund as of the close of business on January 22, 2016, you may vote at the Meeting or at any adjournment or postponement of the Meeting. You are welcome to attend the Meeting in person. If you cannot attend in person, please vote by mail, telephone or internet. Just follow the instructions on the enclosed proxy card. If you have questions, please call the Selling Funds’ proxy solicitor toll free at 800-708-7953. It is important that you vote. The board of trustees of each Selling Fund recommends that you vote FOR its Reorganization.
By order of the boards of trustees
Ryan C. Larrenaga, Secretary
[[•], 2016]
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Columbia Value and Restructuring Fund
Columbia Large Cap Growth Fund II
Columbia Large Cap Growth Fund III
Columbia Large Cap Growth Fund IV
Columbia Large Cap Growth Fund V
Columbia Multi-Advisor Small Cap Value Fund
Columbia International Value Fund
Columbia International Opportunities Fund
COMBINED PROXY STATEMENT/PROSPECTUS
Dated [[•], 2016]
This document is a proxy statement for each Selling Fund (as defined below) and a prospectus for each Buying Fund (as defined below). The address and telephone number of each Selling Fund and each Buying Fund is c/o Columbia Management Investment Services Corp., P.O. Box 8081, Boston, MA 02266-8081, and 800-345-6611. This combined proxy statement/prospectus and the enclosed proxy card were first mailed to shareholders of each Selling Fund beginning on or about February 5, 2016. This combined proxy statement/prospectus contains information you should know before voting on the following proposals with respect to your Selling Fund, as indicated below. You should read this document carefully and retain it for future reference.
Proposal | To be voted on by shareholders of: | |||
1. | To approve an Agreement and Plan of Reorganization by and among Columbia Funds Series Trust I, on behalf of its Columbia Value and Restructuring Fund series (a “Selling Fund”), Columbia Funds Series Trust I, on behalf of its Columbia Contrarian Core Fund series (a “Buying Fund”), certain other registered investment companies and Columbia Management Investment Advisers, LLC (“Columbia Threadneedle”), the investment manager of each Selling Fund and Buying Fund. Under the agreement, the Selling Fund will transfer that portion of its assets attributable to each class of its shares (in aggregate, all of its assets) to the Buying Fund in exchange for shares of the corresponding class of the Buying Fund (as indicated below) and the assumption by the Buying Fund of all of the liabilities of the Selling Fund. Shares of each class of the Buying Fund will be distributed proportionately to shareholders of the relevant class of the Selling Fund. | Columbia Value and Restructuring Fund |
Selling Fund | Buying Fund | |||
Class A | g | Class A | ||
Class C | g | Class C | ||
Class I | g | Class I | ||
Class R | g | Class R | ||
Class R4 | g | Class R4 | ||
Class R5 | g | Class R5 | ||
Class W | g | Class W | ||
Class Y | g | Class Y | ||
Class Z | g | Class Z |
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Proposal | To be voted on by shareholders of: | |||
2. | To approve an Agreement and Plan of Reorganization by and among Columbia Funds Series Trust, on behalf of its Columbia Large Cap Growth Fund II, Columbia Large Cap Growth Fund III, and Columbia Large Cap Growth Fund V series, and Columbia Funds Series Trust II, on behalf of its Columbia Large Cap Growth Fund IV series (each a “Selling Fund”), Columbia Funds Series Trust I, on behalf of its Columbia Large Cap Growth Fund series (a “Buying Fund”), certain other registered investment companies and Columbia Threadneedle. Under the agreement, each Selling Fund will transfer that portion of its assets attributable to each class of its shares (in aggregate, all of its assets) to the Buying Fund in exchange for shares of the corresponding class of the Buying Fund (as indicated below) and the assumption by the Buying Fund of all of the liabilities of each Selling Fund. Shares of each class of the Buying Fund will be distributed proportionately to shareholders of the relevant class of each of the Selling Funds, to the extent applicable. | Columbia Large Cap Growth Fund II, Columbia Large Cap Growth Fund III, Columbia Large Cap Growth Fund IV and Columbia Large Cap Growth Fund V |
Selling Funds | Buying Fund | |||
Class A | g | Class A | ||
Class B | g | Class B | ||
Class C | g | Class C | ||
Class I | g | Class I | ||
Class R | g | Class R | ||
Class R4 | g | Class R4 | ||
Class R5 | g | Class R5 | ||
Class W | g | Class W | ||
Class Z | g | Class Z |
3. | To approve an Agreement and Plan of Reorganization by and among Columbia Funds Series Trust II, on behalf of its Columbia Multi-Advisor Small Cap Value Fund series (a “Selling Fund”), Columbia Funds Series Trust II, on behalf of its Columbia Select Smaller-Cap Value Fund series (a “Buying Fund”), certain other registered investment companies and Columbia Threadneedle. Under the agreement, the Selling Fund will transfer that portion of its assets attributable to each class of its shares (in aggregate, all of its assets) to the Buying Fund in exchange for shares of the corresponding class of the Buying Fund (as indicated below) and the assumption by the Buying Fund of all of the liabilities of the Selling Fund. Shares of each class of the Buying Fund will be distributed proportionately to shareholders of the relevant class of the Selling Fund. | Columbia Multi- Advisor Small Cap Value Fund |
Selling Fund | Buying Fund | |||
Class A | g | Class A | ||
Class B | g | Class B | ||
Class C | g | Class C | ||
Class I | g | Class I | ||
Class K | g | Class K | ||
Class R | g | Class R | ||
Class R4 | g | Class R4 | ||
Class R5 | g | Class R5 | ||
Class Y | g | Class Y | ||
Class Z | g | Class Z |
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Proposal | To be voted on by shareholders of: | |||
4. | To approve an Agreement and Plan of Reorganization by and among Columbia Funds Series Trust, on behalf of its Columbia International Value Fund series (a “Selling Fund”), Columbia Funds Series Trust, on behalf of its Columbia Overseas Value Fund series (a “Buying Fund”), certain other registered investment companies and Columbia Threadneedle. Under the agreement, the Selling Fund will transfer that portion of its assets attributable to each class of its shares (in aggregate, all of its assets) to the Buying Fund in exchange for shares of the corresponding class of the Buying Fund (as indicated below) and the assumption by the Buying Fund of all of the liabilities of the Selling Fund. Shares of each class of the Buying Fund will be distributed proportionately to shareholders of the relevant class of the Selling Fund. | Columbia International Value Fund |
Selling Fund | Buying Fund | |||
Class A | g | Class A | ||
Class B | g | Class B | ||
Class C | g | Class C | ||
Class I | g | Class I | ||
Class R | g | Class R | ||
Class R4 | g | Class R4 | ||
Class R5 | g | Class R5 | ||
Class Z | g | Class Z |
5. | To approve an Agreement and Plan of Reorganization by and among Columbia Funds Series Trust, on behalf of its Columbia International Opportunities Fund series (a “Selling Fund”), Columbia Funds Series Trust, on behalf of its Columbia Select International Equity Fund series (a “Buying Fund”), certain other registered investment companies and Columbia Threadneedle. Under the agreement, the Selling Fund will transfer that portion of its assets attributable to each class of its shares (in aggregate, all of its assets) to the Buying Fund in exchange for shares of the corresponding class of the Buying Fund (as indicated below) and the assumption by the Buying Fund of all of the liabilities of the Selling Fund. Shares of each class of the Buying Fund will be distributed proportionately to shareholders of the relevant class of the Selling Fund. | Columbia International Opportunities Fund |
Selling Funds | Buying Fund | |||
Class A | g | Class A | ||
Class B | g | Class B | ||
Class C | g | Class C | ||
Class I | g | Class I | ||
Class R | g | Class R | ||
Class R4 | g | Class R4 | ||
Class Z | g | Class Z |
The proposals will be considered by shareholders who owned shares of the Selling Funds on January 22, 2016 at a joint special meeting of shareholders (the “Meeting”) that will be held at 10:00 a.m. ET on April 15, 2016, at 225 Franklin Street, Boston, MA in Room 3200 on the 32nd floor. Each of the Selling Funds and the Buying Funds (each a “Fund” and collectively, the “Funds”) is a registered open-end management investment company (or a series thereof).
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Although the board of trustees (the “Board”) of each Selling Fund* recommends that shareholders approve the reorganization of each Selling Fund into the corresponding Buying Fund (each a “Reorganization”), the Reorganization of each Selling Fund is not conditioned upon the Reorganization of any other Selling Fund. Accordingly, if shareholders of one Selling Fund approve its Reorganization, but shareholders of a second Selling Fund do not approve the second Selling Fund’s Reorganization, it is expected that the Reorganization of the first Selling Fund will take place as described in this combined proxy statement/prospectus. If shareholders of any Selling Fund fail to approve its Reorganization, the Board of such Selling Fund will consider what other actions, if any, may be appropriate.
How Each Reorganization Will Work
• | Each Selling Fund will transfer all of its assets to the corresponding Buying Fund in exchange for shares of such Buying Fund (“Reorganization Shares”) and the assumption by the corresponding Buying Fund of all of the Selling Fund’s liabilities. |
• | Each Buying Fund will issue Reorganization Shares with an aggregate net asset value equal to the aggregate value of the assets that it receives from the corresponding Selling Fund, less the liabilities it assumes from the corresponding Selling Fund. Reorganization Shares of each class of each Buying Fund will be distributed to the shareholders of the corresponding class of such corresponding Selling Fund in proportion to their holdings of such class of such Selling Fund. For example, holders of Class A shares of a Selling Fund will receive Class A shares of the corresponding Buying Fund with the same aggregate net asset value as the aggregate net asset value of their Selling Fund Class A shares at the time of the Reorganization. While the aggregate net asset value of your shares will not change as a result of the Reorganization, the number of shares you hold may differ based on each Fund’s net asset value. |
• | Reorganization costs will be allocated to each Selling Fund only to the extent they are expected to be offset by the anticipated reduction in expenses borne by the Selling Fund’s shareholders during the first year following the Reorganization. |
• | Each Reorganization is expected to be tax-free for U.S. federal income tax purposes. Accordingly, it is expected that Selling Fund shareholders will not and the Selling Fund generally will not recognize gain or loss as a direct result of a Reorganization, as described in more detail in the section entitled “Tax Status of the Reorganizations.” |
• | A portion of the portfolio assets of a Selling Fund may be sold in connection with its Reorganization. Any such sales will cause such Selling Fund to incur transaction costs and may result in a taxable distribution of gains to shareholders. |
• | As part of the Reorganization of your Selling Fund, systematic transactions (such as bank authorizations and systematic payouts) currently set up for your Selling Fund account may be transferred to your new Buying Fund account. Please contact your financial intermediary for additional details. |
• | No shareholders of any Selling Fund will pay any sales charge in connection with acquiring Reorganization Shares. |
• | After a Reorganization is completed, Selling Fund shareholders will be shareholders of the corresponding Buying Fund, and the Selling Fund will be dissolved. |
Where to Get More Information
The following documents have been filed with the Securities and Exchange Commission (the “SEC”) and are incorporated into this combined proxy statement/prospectus by reference:
• | the Statement of Additional Information of the Buying Funds relating to the Reorganizations (the “Merger SAI”), dated [•, 2016]; |
Columbia Value and Restructuring Fund (SEC file no. 811-04367)
• | the prospectus of Columbia Value and Restructuring Fund, dated [January 1, 2016], as supplemented to date; |
• | the Statement of Additional Information of Columbia Value and Restructuring Fund, dated [January 1, 2016], as supplemented to date; |
• | the Report of the Independent Registered Public Accounting Firm and the audited financial statements included in the Annual Report to Shareholders of Columbia Value and Restructuring Fund for the year ended August 31, 2015; |
* | References to the board of a Selling Fund refer to the Board of the trust of which the Selling Fund is a series. |
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Columbia Large Cap Growth Fund II (SEC file no. 811-09645) (known as Columbia Marsico 21st Century Fund prior to November 20, 2015)
• | the prospectus of Columbia Large Cap Growth Fund II, dated July 1, 2015, as supplemented to date; |
• | the Statement of Additional Information of Columbia Large Cap Growth Fund II, dated [January 1, 2016], as supplemented to date; |
• | the Report of the Independent Registered Public Accounting Firm and the audited financial statements included in the Annual Report to Shareholders of Columbia Large Cap Growth Fund II for the year ended February 28, 2015, and the unaudited financial statements included in the Semiannual Report to Shareholders of Columbia Large Cap Growth Fund II for the period ended August 31, 2015; |
Columbia Large Cap Growth Fund III (SEC file no. 811-09645) (known as Columbia Marsico Focused Equities Fund prior to November 20, 2015)
• | the prospectus of Columbia Large Cap Growth Fund III, dated July 1, 2015, as supplemented to date; |
• | the Statement of Additional Information of Columbia Large Cap Growth Fund III, dated [January 1, 2016], as supplemented to date; |
• | the Report of the Independent Registered Public Accounting Firm and the audited financial statements included in the Annual Report to Shareholders of Columbia Large Cap Growth Fund III for the year ended February 28, 2015, and the unaudited financial statements included in the Semiannual Report to Shareholders of Columbia Large Cap Growth Fund III for the period ended August 31, 2015; |
Columbia Large Cap Growth Fund IV (SEC file no. 811-21852) (known as Columbia Marsico Flexible Capital Fund prior to November 20, 2015)
• | the prospectus of Columbia Large Cap Growth Fund IV, dated [January 1, 2016], as supplemented to date; |
• | the Statement of Additional Information of Columbia Large Cap Growth Fund IV, dated [January 1, 2016], as supplemented to date; |
• | the Report of the Independent Registered Public Accounting Firm and the audited financial statements included in the Annual Report to Shareholders of Columbia Large Cap Growth Fund IV for the year ended August 31, 2015; |
Columbia Large Cap Growth Fund V (SEC file no. 811-09645) (known as Columbia Marsico Growth Fund prior to November 20, 2015)
• | the prospectus of Columbia Large Cap Growth Fund V, dated July 1, 2015, as supplemented to date; |
• | the Statement of Additional Information of Columbia Large Cap Growth Fund V, dated [January 1, 2016], as supplemented to date; |
• | the Report of the Independent Registered Public Accounting Firm and the audited financial statements included in the Annual Report to Shareholders of Columbia Large Cap Growth Fund V for the year ended February 28, 2015, and the unaudited financial statements included in the Semiannual Report to Shareholders of Columbia Large Cap Growth Fund V for the period ended August 31, 2015; |
Columbia Multi-Advisor Small Cap Value Fund (SEC file no. 811-21852)
• | the prospectus of Columbia Multi-Advisor Small Cap Value Fund, dated October 1, 2015, as supplemented to date; |
• | the Statement of Additional Information of Columbia Multi-Advisor Small Cap Value Fund, dated [January 1, 2016], as supplemented to date; |
• | the Report of the Independent Registered Public Accounting Firm and the audited financial statements included in the Annual Report to Shareholders of Columbia Multi-Advisor Small Cap Value Fund for the year ended May 31, 2015, [and the unaudited financial statements included in the Semiannual Report to Shareholders of Columbia Multi-Advisor Small Cap Value Fund for the period ended November 30, 2015]; |
Columbia International Value Fund (SEC file no. 811-09645)
• | the prospectus of Columbia International Value Fund, dated July 1, 2015, as supplemented to date; |
• | the Statement of Additional Information of Columbia International Value Fund, dated [January 1, 2016], as supplemented to date; |
• | the Report of the Independent Registered Public Accounting Firm and the audited financial statements included in the Annual Report to Shareholders of Columbia International Value Fund for the year ended February 28, 2015, and the unaudited financial statements included in the Semiannual Report to Shareholders of Columbia International Value Fund for the period ended August 31, 2015; |
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Columbia International Opportunities Fund (SEC file no. 811-09645)
• | the prospectus of Columbia International Opportunities Fund, dated July 1, 2015, as supplemented to date; |
• | the Statement of Additional Information of Columbia International Opportunities Fund, dated [January 1, 2016], as supplemented to date; |
• | the Report of the Independent Registered Public Accounting Firm and the audited financial statements included in the Annual Report to Shareholders of Columbia International Opportunities Fund for the year ended February 28, 2015, and the unaudited financial statements included in the Semiannual Report to Shareholders of Columbia International Opportunities Fund for the period ended August 31, 2015. |
For a free copy of any of the documents listed above and/or to ask questions about this combined proxy statement/prospectus, please call your Selling Fund’s proxy solicitor toll free at 800-708-7953.
Each of the Funds is subject to the information requirements of the Securities Exchange Act of 1934, as amended, and the Investment Company Act of 1940, as amended (the “1940 Act”), and files reports, proxy materials and other information with the SEC. These reports, proxy materials and other information can be inspected and copied at the Public Reference Room maintained by the SEC. Copies may be obtained, after paying a duplicating fee, by electronic request at publicinfo@sec.gov, or by writing to the Public Reference Branch of the SEC Office of Consumer Affairs and Information Services, 100 F Street, N.E., Washington, D.C. 20549-0102. In addition, copies of these documents may be viewed online or downloaded from the SEC’s website at www.sec.gov.
Please note that investments in the Funds are not bank deposits, are not federally insured, are not guaranteed by any bank or government agency and may lose value. There is no assurance that any Fund will achieve its investment objectives.
As with all mutual funds, the SEC has not approved or disapproved these securities or passed on the adequacy of this combined proxy statement/prospectus. Any representation to the contrary is a criminal offense.
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SECTION A — REORGANIZATION PROPOSALS
The following information describes each proposed Reorganization.
This combined proxy statement/prospectus is being used by each Selling Fund to solicit proxies to vote at a joint special meeting of shareholders. Shareholders of each Selling Fund will consider a proposal to approve the Agreement and Plan of Reorganization (the “Agreement”) providing for the Reorganization of their Selling Fund into the corresponding Buying Fund.
The following is a summary. More complete information appears later in this combined proxy statement/prospectus. You should carefully read the entire combined proxy statement/prospectus and the exhibits because they contain details that are not included in this summary.
How Each Reorganization Will Work
• | Each Selling Fund will transfer all of its assets to the corresponding Buying Fund in exchange for Reorganization Shares and the assumption by the corresponding Buying Fund of all of the Selling Fund’s liabilities. |
• | Each Buying Fund will issue Reorganization Shares with an aggregate net asset value equal to the aggregate value of the assets that it receives from the corresponding Selling Fund, less the liabilities it assumes from the corresponding Selling Fund. Reorganization Shares of each class of each Buying Fund will be distributed to the shareholders of the corresponding class of such corresponding Selling Fund in proportion to their holdings of such class of such Selling Fund. For example, holders of Class A shares of a Selling Fund will receive Class A shares of the corresponding Buying Fund with the same aggregate net asset value as the aggregate net asset value of their Selling Fund Class A shares at the time of the Reorganization. While the aggregate net asset value of your shares will not change as a result of the Reorganization, the number of shares you hold may differ based on each Fund’s net asset value. |
• | Reorganization costs will be allocated to each Selling Fund only to the extent they are expected to be offset by the anticipated reduction in expenses borne by the Selling Fund’s shareholders during the first year following the Reorganization. |
• | Each Reorganization is expected to be tax-free for U.S. federal income tax purposes. Accordingly, it is expected that Selling Fund shareholders will not and the Selling Fund generally will not recognize gain or loss as a direct result of a Reorganization, as described in more detail in the section entitled “Tax Status of the Reorganizations.” |
• | A portion of the portfolio assets of a Selling Fund may be sold in connection with its Reorganization. Any such sales will cause such Selling Fund to incur transaction costs and may result in a taxable distribution of gains to shareholders. |
• | As part of the Reorganization of your Selling Fund, systematic transactions (such as bank authorizations and systematic payouts) currently set up for your Selling Fund account may be transferred to your new Buying Fund account. Please contact your financial intermediary for additional details. |
• | No shareholders of any Selling Fund will pay any sales charge in connection with acquiring Reorganization Shares. |
• | After a Reorganization is completed, Selling Fund shareholders will be shareholders of the corresponding Buying Fund, and the Selling Fund will be dissolved. |
Each Reorganization is expected to be tax-free for U.S. federal income tax purposes and will not take place unless the Selling Fund and the corresponding Buying Fund receive a satisfactory opinion of tax counsel substantially to the effect that the Reorganization will be tax-free, as described in more detail in the section entitled “Tax Status of the Reorganizations.” Accordingly, subject to the limited exceptions described in that section, no gain or loss is expected to be recognized by any Selling Fund or its shareholders as a direct result of its Reorganization. A portion of the portfolio assets of a Selling Fund may be sold in connection with its Reorganization. The actual tax effect of such sales will depend on the difference between the price at which such portfolio assets are sold and the tax basis of the Selling Fund in such assets. Any capital gains recognized in any such sales on a net basis, after reduction by any available capital losses, will be distributed to shareholders as capital gain dividends (to the extent of net realized long-term capital gains over net realized short-term capital losses) and/or ordinary dividends (to the extent of net realized short-term capital gains over net realized long-term capital losses) during or with respect to the year of sale, and such distributions will be taxable to shareholders. Additionally, because each Reorganization will end the tax year of the applicable Selling Fund, it
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will accelerate distributions to shareholders from the Selling Fund for its short tax year ending on the date of the Reorganization. Those tax year-end distributions will be taxable, and will include any distributable, but not previously distributed, capital gains resulting from portfolio turnover prior to consummation of the Reorganization. At any time prior to a Reorganization, a shareholder may redeem shares of a Selling Fund. Any such redemption would likely result in the recognition of gain or loss by the shareholder for U.S. federal income tax purposes. If a shareholder holds Selling Fund shares in a non-taxable account, distributions and redemption proceeds with respect to those shares will not be taxable to the shareholder if those amounts remain in the non-taxable account.
The Selling Fund shareholders’ aggregate tax basis in the Reorganization Shares is expected to carry over from the shareholders’ Selling Fund shares, and the Selling Fund shareholders’ holding period in the Reorganization Shares is expected to include the shareholders’ holding period in the Selling Fund shares.
For more information about the U.S. federal income tax consequences of the Reorganizations, see the section entitled “Tax Status of the Reorganizations.”
The following tables describe the fees and expenses that you may pay if you buy and hold shares of a Fund.
Annual fund operating expense ratios are based on expenses incurred during each Fund’s most recently completed fiscal year, adjusted to reflect current and expected fees, as more fully described below, and are expressed as a percentage (expense ratio) of the Fund’s average net assets during the period. Pro forma expense ratios are based on the average net assets of each Buying Fund and the corresponding Selling Fund for the twelve months ended July 31, 2015 for Columbia Large Cap Growth Fund, August 31, 2015 for Columbia Value and Restructuring Fund, Columbia Contrarian Core Fund, Columbia Large Cap Growth Fund II, Columbia Large Cap Growth Fund III, Columbia Large Cap Growth Fund IV, Columbia Large Cap Growth Fund V, Columbia International Value Fund, Columbia Overseas Value Fund, Columbia International Opportunities Fund and Columbia Select International Equity Fund, and November 30, 2015 for Columbia Multi-Advisor Small Cap Value Fund and Columbia Select Smaller-Cap Value Fund. As of the date of this combined proxy statement/prospectus, each Fund’s net assets may be lower or higher than the Fund’s average net assets over such period (or on such date). In general, a Fund’s annual operating expense ratios will increase as the Fund’s assets decrease and will decrease as the Fund’s assets increase. Accordingly, each Fund’s annual operating expense ratios, if adjusted based on net assets as of the date of this combined proxy statement/prospectus, could be higher or lower than those shown in the tables below. The commitment by Columbia Threadneedle to waive fees and/or to reimburse expenses for a Buying Fund, if applicable and as noted below, may limit the effect that any decrease in the applicable Buying Fund’s net assets will have on its annual net operating expense ratios in the current fiscal year.
The Selling Funds have contractual fee waiver and/or expense reimbursement arrangements. For more information, see the Selling Funds’ prospectuses or shareholder reports.
The fees and expenses below exclude one-time costs of the Reorganizations. The costs of each Reorganization expected to be borne by each Fund are set forth in Exhibit A. Reorganization costs will be allocated to each Selling Fund only to the extent they are expected to be offset by the anticipated reduction in expenses borne by the Selling Fund’s shareholders during the first year following the Reorganization.
Proposal 1 Fees and Expenses. Reorganization of Columbia Value and Restructuring Fund into Columbia Contrarian Core Fund
Current and Pro Forma Fees and Expenses
Shareholder Fees (fees paid directly from your investment)
Columbia Value and Restructuring Fund (Current) (Selling Fund) | Class A | Class C | Class I | Class R | Class R4 | Class R5 | Class W | Class Y | Class Z | |||||||||||||||||||||||||||
Maximum sales charge (load) imposed on purchases (as a percentage of offering price) | 5.75 | % | None | None | None | None | None | None | None | None | ||||||||||||||||||||||||||
Maximum deferred sales charge (load) imposed on redemptions (as a percentage of net asset value at the time of your purchase or redemption, whichever is lower) | 1.00 | %(1) | 1.00 | %(2) | None | None | None | None | None | None | None |
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Columbia Contrarian Core Fund (Current and Pro Forma) (Buying Fund) | Class A | Class C | Class I | Class R | Class R4 | Class R5 | Class W | Class Y | Class Z | |||||||||||||||||||||||||||
Maximum sales charge (load) imposed on purchases (as a percentage of offering price) | 5.75 | % | None | None | None | None | None | None | None | None | ||||||||||||||||||||||||||
Maximum deferred sales charge (load) imposed on redemptions (as a percentage of net asset value at the time of your purchase or redemption, whichever is lower) | 1.00 | %(1) | 1.00 | %(2) | None | None | None | None | None | None | None |
Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment):
Columbia Value and Restructuring Fund (Current) (Selling Fund) | Class A | Class C | Class I | Class R | Class R4 | Class R5 | Class W | Class Y | Class Z | |||||||||||||||||||||||||||
Management fees(3) | 0.70 | % | 0.70 | % | 0.70 | % | 0.70 | % | 0.70 | % | 0.70 | % | 0.70 | % | 0.70 | % | 0.70 | % | ||||||||||||||||||
Distribution and/or service (12b-1) fees | 0.25 | % | 1.00 | % | 0.00 | % | 0.50 | % | 0.00 | % | 0.00 | % | 0.25 | % | 0.00 | % | 0.00 | % | ||||||||||||||||||
Other expenses(3)(4) | 0.22 | % | 0.22 | % | 0.03 | % | 0.22 | % | 0.22 | % | 0.08 | % | 0.22 | % | 0.03 | % | 0.22 | % | ||||||||||||||||||
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Total annual Fund operating expenses(5) | 1.17 | % | 1.92 | % | 0.73 | % | 1.42 | % | 0.92 | % | 0.78 | % | 1.17 | % | 0.73 | % | 0.92 | % |
Columbia Contrarian Core Fund (Current) (Buying Fund) | Class A | Class C | Class I | Class R | Class R4 | Class R5 | Class W | Class Y | Class Z | |||||||||||||||||||||||||||
Management fees(6) | 0.64 | % | 0.64 | % | 0.64 | % | 0.64 | % | 0.64 | % | 0.64 | % | 0.64 | % | 0.64 | % | 0.64 | % | ||||||||||||||||||
Distribution and/or service (12b-1) fees | 0.25 | % | 1.00 | % | 0.00 | % | 0.50 | % | 0.00 | % | 0.00 | % | 0.25 | % | 0.00 | % | 0.00 | % | ||||||||||||||||||
Other expenses(4)(6) | 0.20 | % | 0.20 | % | 0.02 | % | 0.20 | % | 0.20 | % | 0.07 | % | 0.20 | % | 0.02 | % | 0.20 | % | ||||||||||||||||||
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Total annual Fund operating expenses | 1.09 | % | 1.84 | % | 0.66 | % | 1.34 | % | 0.84 | % | 0.71 | % | 1.09 | % | 0.66 | % | 0.84 | % | ||||||||||||||||||
Columbia Contrarian Core Fund (Pro Forma) (Buying Fund) | Class A | Class C | Class I | Class R | Class R4 | Class R5 | Class W | Class Y | Class Z | |||||||||||||||||||||||||||
Management fees(7) | 0.62 | % | 0.62 | % | 0.62 | % | 0.62 | % | 0.62 | % | 0.62 | % | 0.62 | % | 0.62 | % | 0.62 | % | ||||||||||||||||||
Distribution and/or service (12b-1) fees | 0.25 | % | 1.00 | % | 0.00 | % | 0.50 | % | 0.00 | % | 0.00 | % | 0.25 | % | 0.00 | % | 0.00 | % | ||||||||||||||||||
Other expenses(4)(7) | 0.20 | % | 0.20 | % | 0.02 | % | 0.20 | % | 0.20 | % | 0.07 | % | 0.20 | % | 0.02 | % | 0.20 | % | ||||||||||||||||||
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Total annual Fund operating expenses | 1.07 | % | 1.82 | % | 0.64 | % | 1.32 | % | 0.82 | % | 0.69 | % | 1.07 | % | 0.64 | % | 0.82 | % |
(1) | This charge is imposed on certain investments of between $1 million and $50 million redeemed within 18 months after purchase, as follows: 1.00% if redeemed within 12 months after purchase, and 0.50% if redeemed more than 12, but less than 18, months after purchase, with certain limited exceptions. |
(2) | This charge applies to redemptions within 12 months after purchase, with certain limited exceptions. |
(3) | Management fees have been restated to reflect current fees paid by the Fund. Effective July 1, 2015, management fees for this Fund reflect the combination of advisory and administrative services fees under one agreement providing for a single management fee that is lower than the aggregate of the previous advisory and administrative services fee. As a result, other expenses do not include administrative services fees. Prior to July 1, 2015, advisory fees and administrative fees payable pursuant to separate agreements under the prior arrangement amounted to 0.69% and 0.06% of average daily net assets of the Fund, respectively. |
(4) | With the exception of Class I and Class Y shares, other expenses have been restated to reflect current transfer agency fees paid by the Fund. |
(5) | Columbia Threadneedle and certain of its affiliates have contractually agreed to waive fees and/or to reimburse expenses (excluding transaction costs and certain other investment related expenses, interest, taxes, acquired fund fees and expenses, and extraordinary expenses) until December 31, 2016, unless sooner terminated at the sole discretion of the Fund’s Board of Trustees. Under this agreement, the Fund’s net operating expenses, subject to applicable exclusions, will not exceed the annual rates of 1.15% for Class A, 1.90% for Class C, 0.75% for Class I, 1.40% for Class R, 0.90% for Class R4, 0.80% for Class R5, 1.15% for Class W, 0.75% for Class Y and 0.90% for Class Z. |
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(6) | Management fees reflect the combination of advisory and administrative services fees under one agreement providing for a single management fee. As a result, other expenses do not include administrative services fees. Advisory fees and administrative services fees paid pursuant to separate prior agreements amounted to 0.59% and 0.05% of average daily net assets of the Fund, respectively. |
(7) | Management fees reflect the combination of advisory and administrative services fees under one agreement providing for a single management fee. As a result, other expenses do not include administrative services fees. |
Expense examples: These examples are intended to help you compare the cost of investing in each Fund with the cost of investing in other mutual funds. These examples assume that you invest $10,000 in the applicable Fund for the time periods indicated and then redeem all of your shares at the end of those periods, both under the current arrangements and, for the Buying Fund, assuming completion of the proposed Reorganization. These examples also assume that your investment has a 5% return each year and that each Fund’s operating expenses remain the same. Although your actual costs may be higher or lower, based on those assumptions your costs would be:
1 year | 3 years | 5 years | 10 years | |||||||||||||
Columbia Value and Restructuring Fund (Current) (Selling Fund) | ||||||||||||||||
Class A | $ | 687 | $ | 925 | $ | 1,182 | $ | 1,914 | ||||||||
Class C | $ | 295 | $ | 603 | $ | 1,037 | $ | 2,243 | ||||||||
Class I | $ | 75 | $ | 233 | $ | 406 | $ | 906 | ||||||||
Class R | $ | 145 | $ | 449 | $ | 776 | $ | 1,702 | ||||||||
Class R4 | $ | 94 | $ | 293 | $ | 509 | $ | 1,131 | ||||||||
Class R5 | $ | 80 | $ | 249 | $ | 433 | $ | 966 | ||||||||
Class W | $ | 119 | $ | 372 | $ | 644 | $ | 1,420 | ||||||||
Class Y | $ | 75 | $ | 233 | $ | 406 | $ | 906 | ||||||||
Class Z | $ | 94 | $ | 293 | $ | 509 | $ | 1,131 | ||||||||
Columbia Contrarian Core Fund (Current) (Buying Fund) | ||||||||||||||||
Class A | $ | 680 | $ | 902 | $ | 1,141 | $ | 1,827 | ||||||||
Class C | $ | 287 | $ | 579 | $ | 996 | $ | 2,159 | ||||||||
Class I | $ | 67 | $ | 211 | $ | 368 | $ | 822 | ||||||||
Class R | $ | 136 | $ | 425 | $ | 734 | $ | 1,613 | ||||||||
Class R4 | $ | 86 | $ | 268 | $ | 466 | $ | 1,037 | ||||||||
Class R5 | $ | 73 | $ | 227 | $ | 395 | $ | 883 | ||||||||
Class W | $ | 111 | $ | 347 | $ | 601 | $ | 1,329 | ||||||||
Class Y | $ | 67 | $ | 211 | $ | 368 | $ | 822 | ||||||||
Class Z | $ | 86 | $ | 268 | $ | 466 | $ | 1,037 | ||||||||
Columbia Contrarian Core Fund (Pro Forma) (Buying Fund) | ||||||||||||||||
Class A | $ | 678 | $ | 896 | $ | 1,131 | $ | 1,806 | ||||||||
Class C | $ | 285 | $ | 573 | $ | 985 | $ | 2,137 | ||||||||
Class I | $ | 65 | $ | 205 | $ | 357 | $ | 798 | ||||||||
Class R | $ | 134 | $ | 418 | $ | 723 | $ | 1,590 | ||||||||
Class R4 | $ | 84 | $ | 262 | $ | 455 | $ | 1,014 | ||||||||
Class R5 | $ | 70 | $ | 221 | $ | 384 | $ | 859 | ||||||||
Class W | $ | 109 | $ | 340 | $ | 590 | $ | 1,306 | ||||||||
Class Y | $ | 65 | $ | 205 | $ | 357 | $ | 798 | ||||||||
Class Z | $ | 84 | $ | 262 | $ | 455 | $ | 1,014 |
If you owned or will own any class of shares other than Class C shares, you would pay the same costs shown in the tables above if you did not redeem your shares at the end of the periods indicated. If you owned or will own Class C shares, you would pay the following costs if you did not redeem your shares at the end of the periods indicated, which may be different than the costs shown in the tables above.
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1 year | 3 years | 5 years | 10 years | |||||||||||||
Columbia Value and Restructuring Fund (Current) (Selling Fund) | ||||||||||||||||
Class C | $ | 195 | $ | 603 | $ | 1,037 | $ | 2,243 | ||||||||
Columbia Contrarian Core Fund (Current) (Buying Fund) | ||||||||||||||||
Class C | $ | 187 | $ | 579 | $ | 996 | $ | 2,159 | ||||||||
Columbia Contrarian Core Fund (Pro Forma) (Buying Fund) | ||||||||||||||||
Class C | $ | 185 | $ | 573 | $ | 985 | $ | 2,137 |
Portfolio Turnover. Each 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. Those costs, which are not reflected in annual Fund operating expenses or in the example expenses, affect a Fund’s performance. During the most recent fiscal year, each Fund’s portfolio turnover rate was the following percentage of the average value of the Fund’s portfolio:
Fund | Percentage of the Average Value of the Fund’s Portfolio | |
Columbia Value and Restructuring Fund (Selling Fund) | 58% | |
Columbia Contrarian Core Fund (Buying Fund) | 60% |
Proposal 2 Fees and Expenses. Reorganization of each of Columbia Large Cap Growth Fund II, Columbia Large Cap Growth Fund III, Columbia Large Cap Growth Fund IV, and Columbia Large Cap Growth Fund V into Columbia Large Cap Growth Fund
Current and Pro Forma Fees and Expenses
Shareholder Fees (fees paid directly from your investment)
Columbia Large Cap Growth Fund II (Current) (Selling Fund) | Class A | Class B | Class C | Class R | Class R4 | Class R5 | Class Z | |||||||||||||||||||||
Maximum sales charge (load) imposed on purchases (as a percentage of offering price) | 5.75 | % | None | None | None | None | None | None | ||||||||||||||||||||
Maximum deferred sales charge (load) imposed on redemptions (as a percentage of net asset value at the time of your purchase or redemption, whichever is lower) | 1.00 | %(1) | 5.00 | %(2) | 1.00 | %(3) | None | None | None | None | ||||||||||||||||||
Columbia Large Cap Growth Fund III (Current) (Selling Fund) | Class A | Class B | Class C | Class I | Class R4 | Class R5 | Class Z | |||||||||||||||||||||
Maximum sales charge (load) imposed on purchases (as a percentage of offering price) | 5.75 | % | None | None | None | None | None | None | ||||||||||||||||||||
Maximum deferred sales charge (load) imposed on redemptions (as a percentage of net asset value at the time of your purchase or redemption, whichever is lower) | 1.00 | %(1) | 5.00 | %(2) | 1.00 | %(3) | None | None | None | None |
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Columbia Large Cap Growth Fund IV (Current) (Selling Fund) | Class A | Class C | Class I | Class R | Class R4 | Class R5 | Class Z | |||||||||||||||||||||
Maximum sales charge (load) imposed on purchases (as a percentage of offering price) | 5.75 | % | None | None | None | None | None | None | ||||||||||||||||||||
Maximum deferred sales charge (load) imposed on redemptions (as a percentage of net asset value at the time of your purchase or redemption, whichever is lower) | 1.00 | %(1) | 1.00 | %(3) | None | None | None | None | None |
Columbia Large Cap Growth Fund V (Current) (Selling Fund) | Class A | Class B | Class C | Class I | Class R | Class R4 | Class R5 | Class W | Class Z | |||||||||||||||||||||||||||
Maximum sales charge (load) imposed on purchases (as a percentage of offering price) | 5.75 | % | None | None | None | None | None | None | None | None | ||||||||||||||||||||||||||
Maximum deferred sales charge (load) imposed on redemptions (as a percentage of net asset value at the time of your purchase or redemption, whichever is lower) | 1.00 | %(1) | 5.00 | %(2) | 1.00 | %(3) | None | None | None | None | None | None | ||||||||||||||||||||||||
Columbia Large Cap Growth Fund (Current and Pro Forma) (Buying Fund) | Class A | Class B | Class C | Class I | Class R | Class R4 | Class R5 | Class W | Class Z | |||||||||||||||||||||||||||
Maximum sales charge (load) imposed on purchases (as a percentage of offering price) | 5.75 | % | None | None | None | None | None | None | None | None | ||||||||||||||||||||||||||
Maximum deferred sales charge (load) imposed on redemptions (as a percentage of net asset value at the time of your purchase or redemption, whichever is lower) | 1.00 | %(1) | 5.00 | %(2) | 1.00 | %(3) | None | None | None | None | None | None |
Annual Fund Operating Expenses (expenses that expenses that you pay each year as a percentage of the value of your investment):
Columbia Large Cap Growth Fund II (Current) (Selling Fund) | Class A | Class B | Class C | Class R | Class R4 | Class R5 | Class Z | |||||||||||||||||||||
Management fees(4) | 0.74 | % | 0.74 | % | 0.74 | % | 0.74 | % | 0.74 | % | 0.74 | % | 0.74 | % | ||||||||||||||
Distribution and/or service (12b-1) fees | 0.25 | % | 1.00 | % | 1.00 | % | 0.50 | % | 0.00 | % | 0.00 | % | 0.00 | % | ||||||||||||||
Other expenses(4)(5) | 0.22 | % | 0.22 | % | 0.22 | % | 0.22 | % | 0.22 | % | 0.08 | % | 0.22 | % | ||||||||||||||
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Total annual Fund operating expenses | 1.21 | % | 1.96 | % | 1.96 | % | 1.46 | % | 0.96 | % | 0.82 | % | 0.96 | % |
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Columbia Large Cap Growth Fund III (Current) (Selling Fund) | Class A | Class B | Class C | Class I | Class R4 | Class R5 | Class Z | |||||||||||||||||||||
Management fees(4) | 0.74 | % | 0.74 | % | 0.74 | % | 0.74 | % | 0.74 | % | 0.74 | % | 0.74 | % | ||||||||||||||
Distribution and/or service (12b-1) fees | 0.25 | % | 1.00 | % | 1.00 | % | 0.00 | % | 0.00 | % | 0.00 | % | 0.00 | % | ||||||||||||||
Other expenses(4)(5) | 0.24 | % | 0.24 | % | 0.24 | % | 0.03 | % | 0.24 | % | 0.08 | % | 0.24 | % | ||||||||||||||
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Total annual Fund operating expenses(6) | 1.23 | % | 1.98 | % | 1.98 | % | 0.77 | % | 0.98 | % | 0.82 | % | 0.98 | % |
Columbia Large Cap Growth Fund IV (Current) (Selling Fund) | Class A | Class C | Class I | Class R | Class R4 | Class R5 | Class Z | |||||||||||||||||||||
Management fees(4) | 0.77 | % | 0.77 | % | 0.77 | % | 0.77 | % | 0.77 | % | 0.77 | % | 0.77 | % | ||||||||||||||
Distribution and/or service (12b-1) fees | 0.25 | % | 1.00 | % | 0.00 | % | 0.50 | % | 0.00 | % | 0.00 | % | 0.00 | % | ||||||||||||||
Other expenses(4)(5) | 0.26 | % | 0.26 | % | 0.10 | % | 0.26 | % | 0.26 | % | 0.15 | % | 0.26 | % | ||||||||||||||
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Total annual Fund operating expenses | 1.28 | % | 2.03 | % | 0.87 | % | 1.53 | % | 1.03 | % | 0.92 | % | 1.03 | % |
Columbia Large Cap Growth Fund V (Current) (Selling Fund) | Class A | Class B | Class C | Class I | Class R | Class R4 | Class R5 | Class W | Class Z | |||||||||||||||||||||||||||
Management fees(4) | 0.70 | % | 0.70 | % | 0.70 | % | 0.70 | % | 0.70 | % | 0.70 | % | 0.70 | % | 0.70 | % | 0.70 | % | ||||||||||||||||||
Distribution and/or service (12b-1) fees | 0.25 | % | 1.00 | % | 1.00 | % | 0.00 | % | 0.50 | % | 0.00 | % | 0.00 | % | 0.25 | % | 0.00 | % | ||||||||||||||||||
Other expenses(4)(5) | 0.22 | % | 0.22 | % | 0.22 | % | 0.02 | % | 0.22 | % | 0.22 | % | 0.07 | % | 0.22 | % | 0.22 | % | ||||||||||||||||||
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Total annual Fund operating expenses | 1.17 | % | 1.92 | % | 1.92 | % | 0.72 | % | 1.42 | % | 0.92 | % | 0.77 | % | 1.17 | % | 0.92 | % |
Columbia Large Cap Growth Fund (Current) (Buying Fund) | Class A | Class B | Class C | Class I | Class R | Class R4 | Class R5 | Class W | Class Z | |||||||||||||||||||||||||||
Management fees(4) | 0.66 | % | 0.66 | % | 0.66 | % | 0.66 | % | 0.66 | % | 0.66 | % | 0.66 | % | 0.66 | % | 0.66 | % | ||||||||||||||||||
Distribution and/or service (12b-1) fees | 0.25 | % | 1.00 | % | 1.00 | % | 0.00 | % | 0.50 | % | 0.00 | % | 0.00 | % | 0.25 | % | 0.00 | % | ||||||||||||||||||
Other expenses(4)(5) | 0.20 | % | 0.20 | % | 0.20 | % | 0.03 | % | 0.20 | % | 0.20 | % | 0.08 | % | 0.20 | % | 0.20 | % | ||||||||||||||||||
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Total annual Fund operating expenses | 1.11 | % | 1.86 | % | 1.86 | % | 0.69 | % | 1.36 | % | 0.86 | % | 0.74 | % | 1.11 | % | 0.86 | % |
The number of Reorganizations that occur will affect the total annual Fund operating expenses of the Buying Fund on a pro forma combined basis after the Reorganizations. The tables below present the pro forma combined total annual Fund operating expenses of the Buying Fund assuming (1) that only one of the Reorganizations is consummated and (2) that all of the Reorganizations are consummated. Specifically, the first table shows the pro forma combined total annual Fund operating expenses of the Buying Fund assuming the combination of Reorganizations that results in the highest possible total annual Fund operating expenses, the Reorganization of only Columbia Large Cap Growth Fund IV, and the second table shows the pro forma combined total annual Fund operating expenses of the Buying Fund assuming the combination of Reorganizations that results in the lowest possible total annual Fund operating expenses, the Reorganization of all of the Selling Funds.
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Columbia Large Cap Growth Fund (Pro Forma — Highest) (Buying Fund) | Class A | Class B | Class C | Class I | Class R | Class R4 | Class R5 | Class W | Class Z | |||||||||||||||||||||||||||
Management fees(7) | 0.66 | % | 0.66 | % | 0.66 | % | 0.66 | % | 0.66 | % | 0.66 | % | 0.66 | % | 0.66 | % | 0.66 | % | ||||||||||||||||||
Distribution and/or service (12b-1) fees | 0.25 | % | 1.00 | % | 1.00 | % | 0.00 | % | 0.50 | % | 0.00 | % | 0.00 | % | 0.25 | % | 0.00 | % | ||||||||||||||||||
Other expenses(5)(7) | 0.20 | % | 0.20 | % | 0.20 | % | 0.03 | % | 0.20 | % | 0.20 | % | 0.08 | % | 0.20 | % | 0.20 | % | ||||||||||||||||||
Total annual Fund operating expenses | 1.11 | % | 1.86 | % | 1.86 | % | 0.69 | % | 1.36 | % | 0.86 | % | 0.74 | % | 1.11 | % | 0.86 | % |
Columbia Large Cap Growth Fund (Pro Forma — Lowest/All Reorganizations) (Buying Fund) | Class A | Class B | Class C | Class I | Class R | Class R4 | Class R5 | Class W | Class Z | |||||||||||||||||||||||||||
Management fees(7) | 0.63 | % | 0.63 | % | 0.63 | % | 0.63 | % | 0.63 | % | 0.63 | % | 0.63 | % | 0.63 | % | 0.63 | % | ||||||||||||||||||
Distribution and/or service (12b-1) fees | 0.25 | % | 1.00 | % | 1.00 | % | 0.00 | % | 0.50 | % | 0.00 | % | 0.00 | % | 0.25 | % | 0.00 | % | ||||||||||||||||||
Other expenses(5)(7) | 0.20 | % | 0.20 | % | 0.20 | % | 0.01 | % | 0.20 | % | 0.20 | % | 0.06 | % | 0.20 | % | 0.20 | % | ||||||||||||||||||
Total annual Fund operating expenses | 1.08 | % | 1.83 | % | 1.83 | % | 0.64 | % | 1.33 | % | 0.83 | % | 0.69 | % | 1.08 | % | 0.83 | % |
(1) | This charge is imposed on certain investments of between $1 million and $50 million redeemed within 18 months after purchase, as follows: 1.00% if redeemed within 12 months after purchase, and 0.50% if redeemed more than 12, but less than 18, months after purchase, with certain limited exceptions. |
(2) | This charge decreases over time. |
(3) | This charge applies to redemptions within 12 months after purchase, with certain limited exceptions. |
(4) | Management fees reflect the combination of advisory and administrative services fees under one agreement providing for a single management fee. As a result, other expenses do not include administrative services fees. Advisory fees and administrative services fees payable pursuant to separate prior agreements amounted to 0.68% and 0.06%, respectively, of average daily net assets for Columbia Large Cap Growth Fund II and Columbia Large Cap Growth Fund III, 0.71% and 0.06%, respectively, of average daily net assets for Columbia Large Cap Growth Fund IV, 0.65% and 0.05%, respectively, of average daily net assets for Columbia Large Cap Growth Fund V and 0.61% and 0.05%, respectively, of average daily net assets for Columbia Large Cap Growth Fund. |
(5) | With the exception of Class I shares, other expenses have been restated to reflect current transfer agency fees paid by the Fund. |
(6) | Columbia Threadneedle and certain of its affiliates have contractually agreed to waive fees and/or to reimburse expenses (excluding transaction costs and certain other investment related expenses, interest, taxes, acquired fund fees and expenses, and extraordinary expenses) until June 30, 2016, unless sooner terminated at the sole discretion of the Fund’s Board of Trustees. Under this agreement, the Fund’s net operating expenses, subject to applicable exclusions, will not exceed the annual rates of 1.22% for Class A, 1.97% for Class B, 1.97% for Class C, 0.81% for Class I, 0.97% for Class R4, 0.86% for Class R5 and 0.97% for Class Z. |
(7) | Management fees reflect the combination of advisory and administrative services fees under one agreement providing for a single management fee. As a result, other expenses do not include administrative services fees. |
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Expense examples: These examples are intended to help you compare the cost of investing in each Fund with the cost of investing in other mutual funds. These examples assume that you invest $10,000 in the applicable Fund for the time periods indicated and then redeem all of your shares at the end of those periods, both under the current arrangements and, for the Buying Fund, assuming completion of the proposed Reorganizations. These examples also assume that your investment has a 5% return each year and that each Fund’s operating expenses remain the same. Although your actual costs may be higher or lower, based on those assumptions, your costs would be:
1 year | 3 years | 5 years | 10 years | |||||||||||||
Columbia Large Cap Growth Fund II (Current) (Selling Fund) | ||||||||||||||||
Class A | $ | 691 | $ | 937 | $ | 1,202 | $ | 1,957 | ||||||||
Class B | $ | 699 | $ | 915 | $ | 1,257 | $ | 2,091 | ||||||||
Class C | $ | 299 | $ | 615 | $ | 1,057 | $ | 2,285 | ||||||||
Class R | $ | 149 | $ | 462 | $ | 797 | $ | 1,746 | ||||||||
Class R4 | $ | 98 | $ | 306 | $ | 531 | $ | 1,178 | ||||||||
Class R5 | $ | 84 | $ | 262 | $ | 455 | $ | 1,014 | ||||||||
Class Z | $ | 98 | $ | 306 | $ | 531 | $ | 1,178 | ||||||||
Columbia Large Cap Growth Fund III (Current) (Selling Fund) | ||||||||||||||||
Class A | $ | 693 | $ | 943 | $ | 1,212 | $ | 1,978 | ||||||||
Class B | $ | 701 | $ | 921 | $ | 1,268 | $ | 2,113 | ||||||||
Class C | $ | 301 | $ | 621 | $ | 1,068 | $ | 2,306 | ||||||||
Class I | $ | 79 | $ | 246 | $ | 428 | $ | 954 | ||||||||
Class R4 | $ | 100 | $ | 312 | $ | 542 | $ | 1,201 | ||||||||
Class R5 | $ | 84 | $ | 262 | $ | 455 | $ | 1,014 | ||||||||
Class Z | $ | 100 | $ | 312 | $ | 542 | $ | 1,201 | ||||||||
Columbia Large Cap Growth Fund IV (Current) (Selling Fund) | ||||||||||||||||
Class A | $ | 698 | $ | 958 | $ | 1,237 | $ | 2,031 | ||||||||
Class C | $ | 306 | $ | 637 | $ | 1,093 | $ | 2,358 | ||||||||
Class I | $ | 89 | $ | 278 | $ | 482 | $ | 1,073 | ||||||||
Class R | $ | 156 | $ | 483 | $ | 834 | $ | 1,824 | ||||||||
Class R4 | $ | 105 | $ | 328 | $ | 569 | $ | 1,259 | ||||||||
Class R5 | $ | 94 | $ | 293 | $ | 509 | $ | 1,131 | ||||||||
Class Z | $ | 105 | $ | 328 | $ | 569 | $ | 1,259 | ||||||||
Columbia Large Cap Growth Fund V (Current) (Selling Fund) | ||||||||||||||||
Class A | $ | 687 | $ | 925 | $ | 1,182 | $ | 1,914 | ||||||||
Class B | $ | 695 | $ | 903 | $ | 1,237 | $ | 2,243 | ||||||||
Class C | $ | 295 | $ | 603 | $ | 1,037 | $ | 2,048 | ||||||||
Class I | $ | 74 | $ | 230 | $ | 401 | $ | 894 | ||||||||
Class R | $ | 145 | $ | 449 | $ | 776 | $ | 1,702 | ||||||||
Class R4 | $ | 94 | $ | 293 | $ | 509 | $ | 1,131 | ||||||||
Class R5 | $ | 79 | $ | 246 | $ | 428 | $ | 954 | ||||||||
Class W | $ | 119 | $ | 372 | $ | 644 | $ | 1,420 | ||||||||
Class Z | $ | 94 | $ | 293 | $ | 509 | $ | 1,131 | ||||||||
Columbia Large Cap Growth Fund (Current) (Buying Fund) | ||||||||||||||||
Class A | $ | 682 | $ | 908 | $ | 1,151 | $ | 1,849 | ||||||||
Class B | $ | 689 | $ | 885 | $ | 1,206 | $ | 1,984 | ||||||||
Class C | $ | 289 | $ | 585 | $ | 1,006 | $ | 2,180 | ||||||||
Class I | $ | 70 | $ | 221 | $ | 384 | $ | 859 | ||||||||
Class R | $ | 138 | $ | 431 | $ | 745 | $ | 1,635 | ||||||||
Class R4 | $ | 88 | $ | 274 | $ | 477 | $ | 1,061 | ||||||||
Class R5 | $ | 76 | $ | 237 | $ | 411 | $ | 918 | ||||||||
Class W | $ | 113 | $ | 353 | $ | 612 | $ | 1,352 | ||||||||
Class Z | $ | 88 | $ | 274 | $ | 477 | $ | 1,061 | ||||||||
Columbia Large Cap Growth Fund (Pro Forma — Highest) (Buying Fund) | ||||||||||||||||
Class A | $ | 682 | $ | 908 | $ | 1,151 | $ | 1,849 | ||||||||
Class B | $ | 689 | $ | 885 | $ | 1,206 | $ | 1,984 | ||||||||
Class C | $ | 289 | $ | 585 | $ | 1,006 | $ | 2,180 | ||||||||
Class I | $ | 70 | $ | 221 | $ | 384 | $ | 859 | ||||||||
Class R | $ | 138 | $ | 431 | $ | 745 | $ | 1,635 | ||||||||
Class R4 | $ | 88 | $ | 274 | $ | 477 | $ | 1,061 | ||||||||
Class R5 | $ | 76 | $ | 237 | $ | 411 | $ | 918 | ||||||||
Class W | $ | 113 | $ | 353 | $ | 612 | $ | 1,352 | ||||||||
Class Z | $ | 88 | $ | 274 | $ | 477 | $ | 1,061 | ||||||||
Columbia Large Cap Growth Fund (Pro Forma — Lowest/All Reorganizations) (Buying Fund) | ||||||||||||||||
Class A | $ | 679 | $ | 899 | $ | 1,136 | $ | 1,816 | ||||||||
Class B | $ | 686 | $ | 876 | $ | 1,190 | $ | 1,951 | ||||||||
Class C | $ | 286 | $ | 576 | $ | 990 | $ | 2,148 | ||||||||
Class I | $ | 65 | $ | 205 | $ | 357 | $ | 798 | ||||||||
Class R | $ | 135 | $ | 421 | $ | 729 | $ | 1,601 | ||||||||
Class R4 | $ | 85 | $ | 265 | $ | 460 | $ | 1,025 | ||||||||
Class R5 | $ | 70 | $ | 221 | $ | 384 | $ | 859 | ||||||||
Class W | $ | 110 | $ | 343 | $ | 595 | $ | 1,317 | ||||||||
Class Z | $ | 85 | $ | 265 | $ | 460 | $ | 1,025 |
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If you owned or will own any class of shares other than Class B or Class C shares you would pay the same costs shown in the tables above if you did not redeem your shares at the end of the periods indicated. If you owned or will own Class B or Class C shares, you would pay the following costs if you did not redeem your shares at the end of the periods indicated, which may be different than the costs shown in the tables above.
1 year | 3 years | 5 years | 10 years | |||||||||||||
Columbia Large Cap Growth Fund II (Current) (Selling Fund) | ||||||||||||||||
Class B | $ | 199 | $ | 615 | $ | 1,057 | $ | 2,091 | ||||||||
Class C | $ | 199 | $ | 615 | $ | 1,057 | $ | 2,285 | ||||||||
Columbia Large Cap Growth Fund III (Current) (Selling Fund) | ||||||||||||||||
Class B | $ | 201 | $ | 621 | $ | 1,068 | $ | 2,113 | ||||||||
Class C | $ | 201 | $ | 621 | $ | 1,068 | $ | 2,306 | ||||||||
Columbia Large Cap Growth Fund IV (Current) (Selling Fund) | ||||||||||||||||
Class C | $ | 206 | $ | 637 | $ | 1,093 | $ | 2,358 | ||||||||
Columbia Large Cap Growth Fund V (Current) (Selling Fund) | ||||||||||||||||
Class B | $ | 195 | $ | 603 | $ | 1,037 | $ | 2,048 | ||||||||
Class C | $ | 195 | $ | 603 | $ | 1,037 | $ | 2,243 | ||||||||
Columbia Large Cap Growth Fund (Current) (Buying Fund) | ||||||||||||||||
Class B | $ | 189 | $ | 585 | $ | 1,006 | $ | 1,984 | ||||||||
Class C | $ | 189 | $ | 585 | $ | 1,006 | $ | 2,180 | ||||||||
Columbia Large Cap Growth Fund (Pro Forma – Highest) (Buying Fund) | ||||||||||||||||
Class B | $ | 189 | $ | 585 | $ | 1,006 | $ | 1,984 | ||||||||
Class C | $ | 189 | $ | 585 | $ | 1,006 | $ | 2,180 | ||||||||
Columbia Large Cap Growth Fund (Pro Forma – Lowest/All Reorganizations) (Buying Fund) | ||||||||||||||||
Class B | $ | 186 | $ | 576 | $ | 990 | $ | 1,951 | ||||||||
Class C | $ | 186 | $ | 576 | $ | 990 | $ | 2,148 |
Portfolio Turnover. Each 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. Those costs, which are not reflected in annual Fund operating expenses or in the example, affect a Fund’s performance. During the most recent fiscal year, each Fund’s portfolio turnover rate was the following percentage of the average value of the Fund’s portfolio:
Fund | Percentage of the Average Value of the Fund’s Portfolio | |||
Columbia Large Cap Growth Fund II (Selling Fund) | 81 | % | ||
Columbia Large Cap Growth Fund III (Selling Fund) | 53 | % | ||
Columbia Large Cap Growth Fund IV (Selling Fund) | 79 | % | ||
Columbia Large Cap Growth Fund V (Selling Fund) | 69 | % | ||
Columbia Large Cap Growth Fund (Buying Fund) | 59 | % |
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Proposal 3 Fees and Expenses. Reorganization of Columbia Multi-Advisor Small Cap Value Fund into Columbia Select Smaller-Cap Value Fund
Current and Pro Forma Fees and Expenses
Shareholder Fees (fees paid directly from your investment)
Columbia Multi-Advisor Small Cap Value Fund (Current) (Selling Fund) | Class A | Class B | Class C | Class I | Class K | Class R | Class R4 | Class R5 | Class Y | Class Z | ||||||||||||||||||||||||||||||
Maximum sales charge (load) imposed on purchases (as a percentage of offering price) | 5.75 | % | None | None | None | None | None | None | None | None | None | |||||||||||||||||||||||||||||
Maximum deferred sales charge (load) imposed on redemptions (as a percentage of net asset value at the time of your purchase or redemption, whichever is lower) | 1.00 | %(1) | 5.00 | %(2) | 1.00 | %(3) | None | None | None | None | None | None | None |
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Columbia Select Smaller-Cap Value Fund (Current and Pro Forma) (Buying Fund) | Class A | Class B | Class C | Class I | Class K | Class R | Class R4 | Class R5 | Class Y | Class Z | ||||||||||||||||||||||||||||||
Maximum sales charge (load) imposed on purchases (as a percentage of offering price) | 5.75 | % | None | None | None | None | None | None | None | None | None | |||||||||||||||||||||||||||||
Maximum deferred sales charge (load) imposed on redemptions (as a percentage of net asset value at the time of your purchase or redemption, whichever is lower) | 1.00 | %(1) | 5.00 | %(2) | 1.00 | %(3) | None | None | None | None | None | None | None |
Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment):
Columbia Multi-Advisor Small Cap Value Fund (Current) (Selling Fund) | Class A | Class B | Class C | Class I | Class K | Class R | Class R4 | Class R5 | Class Y | Class Z | ||||||||||||||||||||||||||||||
Management fees(4) | 1.04 | % | 1.04 | % | 1.04 | % | 1.04 | % | 1.04 | % | 1.04 | % | 1.04 | % | 1.04 | % | 1.04 | % | 1.04 | % | ||||||||||||||||||||
Distribution and/or service (12b-1) fees | 0.25 | % | 1.00 | % | 1.00 | % | 0.00 | % | 0.00 | % | 0.50 | % | 0.00 | % | 0.00 | % | 0.00 | % | 0.00 | % | ||||||||||||||||||||
Other expenses(4)(5) | 0.27 | % | 0.27 | % | 0.27 | % | 0.08 | % | 0.38 | % | 0.27 | % | 0.27 | % | 0.13 | % | 0.08 | % | 0.27 | % | ||||||||||||||||||||
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Total annual Fund operating expenses(6) | 1.56 | % | 2.31 | % | 2.31 | % | 1.12 | % | 1.42 | % | 1.81 | % | 1.31 | % | 1.17 | % | 1.12 | % | 1.31 | % | ||||||||||||||||||||
Columbia Select Smaller- Cap Value Fund (Current) (Buying Fund) | Class A | Class B | Class C | Class I | Class K | Class R | Class R4 | Class R5 | Class Y | Class Z | ||||||||||||||||||||||||||||||
Management fees(4) | 0.87 | % | 0.87 | % | 0.87 | % | 0.87 | % | 0.87 | % | 0.87 | % | 0.87 | % | 0.87 | % | 0.87 | % | 0.87 | % | ||||||||||||||||||||
Distribution and/or service (12b-1) fees | 0.25 | % | 1.00 | % | 1.00 | % | 0.00 | % | 0.00 | % | 0.50 | % | 0.00 | % | 0.00 | % | 0.00 | % | 0.00 | % | ||||||||||||||||||||
Other expenses(4)(5) | 0.24 | % | 0.24 | % | 0.24 | % | 0.06 | % | 0.36 | % | 0.24 | % | 0.24 | % | 0.11 | % | 0.06 | % | 0.24 | % | ||||||||||||||||||||
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Total annual Fund operating expenses | 1.36 | % | 2.11 | % | 2.11 | % | 0.93 | % | 1.23 | % | 1.61 | % | 1.11 | % | 0.98 | % | 0.93 | % | 1.11 | % |
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Columbia Select Smaller- Cap Value Fund (Pro Forma) (Buying Fund) | Class A | Class B | Class C | Class I | Class K | Class R | Class R4 | Class R5 | Class Y | Class Z | ||||||||||||||||||||||||||||||
Management fees(7) | 0.85 | % | 0.85 | % | 0.85 | % | 0.85 | % | 0.85 | % | 0.85 | % | 0.85 | % | 0.85 | % | 0.85 | % | 0.85 | % | ||||||||||||||||||||
Distribution and/or service (12b-1) fees | 0.25 | % | 1.00 | % | 1.00 | % | 0.00 | % | 0.00 | % | 0.50 | % | 0.00 | % | 0.00 | % | 0.00 | % | 0.00 | % | ||||||||||||||||||||
Other expenses(5)(7) | 0.23 | % | 0.23 | % | 0.23 | % | 0.04 | % | 0.34 | % | 0.23 | % | 0.23 | % | 0.09 | % | 0.04 | % | 0.23 | % | ||||||||||||||||||||
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Total annual Fund operating expenses | 1.33 | % | 2.08 | % | 2.08 | % | 0.89 | % | 1.19 | % | 1.58 | % | 1.08 | % | 0.94 | % | 0.89 | % | 1.08 | % |
(1) | This charge is imposed on certain investments of between $1 million and $50 million redeemed within 18 months after purchase, as follows: 1.00% if redeemed within 12 months after purchase, and 0.50% if redeemed more than 12, but less than 18, months after purchase, with certain limited exceptions. |
(2) | This charge decreases over time. |
(3) | This charge applies to redemptions within 12 months after purchase, with certain limited exceptions. |
(4) | Management fees reflect the combination of advisory and administrative services fees under one agreement providing for a single management fee. As a result, other expenses do not include administrative services fees. Advisory fees and administrative services fees paid pursuant to separate prior agreements amounted to 0.96% and 0.08%, respectively, of average daily net assets for Columbia Multi-Advisor Small Cap Value Fund and 0.79% and 0.08%, respectively, of average daily net assets for Columbia Select Smaller-Cap Value Fund. |
(5) | With the exception of Class I and Class Y shares, other expenses have been restated to reflect current transfer agency fees paid by the Fund. For Columbia Multi-Advisor Small Cap Value Fund, Class Y shares are based on estimated amounts for the Fund’s current fiscal year. |
(6) | Columbia Threadneedle and certain of its affiliates have contractually agreed to waive fees and/or to reimburse expenses (excluding transaction costs and certain other investment related expenses, interest, taxes, acquired fund fees and expenses, and extraordinary expenses) until September 30, 2016, unless sooner terminated at the sole discretion of the Fund’s Board of Trustees. Under this agreement, the Fund’s net operating expenses, subject to applicable exclusions, will not exceed the annual rates of 1.37% for Class A, 2.12% for Class B, 2.12% for Class C, 0.98% for Class I, 1.28% for Class K, 1.62% for Class R, 1.12% for Class R4, 1.03% for Class R5, 0.98% for Class Y and 1.12% for Class Z. |
(7) | Management fees reflect the combination of advisory and administrative services fees under one agreement providing for a single management fee. As a result, other expenses do not include administrative services fees. |
Expense examples: These examples are intended to help you compare the cost of investing in each Fund with the cost of investing in other mutual funds. These examples assume that you invest $10,000 in the applicable Fund for the time periods indicated and then redeem all of your shares at the end of those periods, both under the current arrangements and, for the Buying Fund, assuming completion of the proposed Reorganization. These examples also assume that your investment has a 5% return each year and that each Fund’s operating expenses remain the same. Although your actual costs may be higher or lower, based on those assumptions your costs would be:
1 year | 3 years | 5 years | 10 years | |||||||||||||
Columbia Multi-Advisor Small Cap Value Fund (Current) (Selling Fund) | ||||||||||||||||
Class A | $ | 725 | $ | 1,039 | $ | 1,376 | $ | 2,325 | ||||||||
Class B | $ | 734 | $ | 1,021 | $ | 1,435 | $ | 2,458 | ||||||||
Class C | $ | 334 | $ | 721 | $ | 1,235 | $ | 2,646 | ||||||||
Class I | $ | 114 | $ | 356 | $ | 617 | $ | 1,363 | ||||||||
Class K | $ | 145 | $ | 449 | $ | 776 | $ | 1,702 | ||||||||
Class R | $ | 184 | $ | 569 | $ | 980 | $ | 2,127 | ||||||||
Class R4 | $ | 133 | $ | 415 | $ | 718 | $ | 1,579 | ||||||||
Class R5 | $ | 119 | $ | 372 | $ | 644 | $ | 1,420 | ||||||||
Class Y | $ | 114 | $ | 356 | $ | 617 | $ | 1,363 | ||||||||
Class Z | $ | 133 | $ | 415 | $ | 718 | $ | 1,579 |
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1 year | 3 years | 5 years | 10 years | |||||||||||||
Columbia Select Smaller-Cap Value Fund (Current) (Buying Fund) | ||||||||||||||||
Class A | $ | 706 | $ | 981 | $ | 1,277 | $ | 2,116 | ||||||||
Class B | $ | 714 | $ | 961 | $ | 1,334 | $ | 2,250 | ||||||||
Class C | $ | 314 | $ | 661 | $ | 1,134 | $ | 2,441 | ||||||||
Class I | $ | 95 | $ | 296 | $ | 515 | $ | 1,143 | ||||||||
Class K | $ | 125 | $ | 390 | $ | 676 | $ | 1,489 | ||||||||
Class R | $ | 164 | $ | 508 | $ | 876 | $ | 1,911 | ||||||||
Class R4 | $ | 113 | $ | 353 | $ | 612 | $ | 1,352 | ||||||||
Class R5 | $ | 100 | $ | 312 | $ | 542 | $ | 1,201 | ||||||||
Class Y | $ | 95 | $ | 296 | $ | 515 | $ | 1,143 | ||||||||
Class Z | $ | 113 | $ | 353 | $ | 612 | $ | 1,352 | ||||||||
Columbia Select Smaller-Cap Value Fund (Pro Forma) (Buying Fund) | ||||||||||||||||
Class A | $ | 703 | $ | 972 | $ | 1,262 | $ | 2,084 | ||||||||
Class B | $ | 711 | $ | 952 | $ | 1,319 | $ | 2,219 | ||||||||
Class C | $ | 311 | $ | 652 | $ | 1,119 | $ | 2,410 | ||||||||
Class I | $ | 91 | $ | 284 | $ | 493 | $ | 1,096 | ||||||||
Class K | $ | 121 | $ | 378 | $ | 654 | $ | 1,443 | ||||||||
Class R | $ | 161 | $ | 499 | $ | 860 | $ | 1,878 | ||||||||
Class R4 | $ | 110 | $ | 343 | $ | 595 | $ | 1,317 | ||||||||
Class R5 | $ | 96 | $ | 300 | $ | 520 | $ | 1,155 | ||||||||
Class Y | $ | 91 | $ | 284 | $ | 493 | $ | 1,096 | ||||||||
Class Z | $ | 110 | $ | 343 | $ | 595 | $ | 1,317 |
If you owned or will own any class of shares other than Class B or Class C you would pay the same costs shown in the tables above if you did not redeem your shares at the end of the periods indicated. If you owned or will own Class B or Class C shares, you would pay the following costs if you did not redeem your shares at the end of the periods indicated, which may be different than the costs shown in the tables above.
1 year | 3 years | 5 years | 10 years | |||||||||||||
Columbia Multi-Advisor Small Cap Value Fund (Current) (Selling Fund) | ||||||||||||||||
Class B | $ | 234 | $ | 721 | $ | 1,235 | $ | 2,458 | ||||||||
Class C | $ | 234 | $ | 721 | $ | 1,235 | $ | 2,646 | ||||||||
Columbia Select Smaller-Cap Value Fund (Current) (Buying Fund) | ||||||||||||||||
Class B | $ | 214 | $ | 661 | $ | 1,134 | $ | 2,250 | ||||||||
Class C | $ | 214 | $ | 661 | $ | 1,134 | $ | 2,441 | ||||||||
Columbia Select Smaller-Cap Value Fund (Pro Forma) (Buying Fund) | ||||||||||||||||
Class B | $ | 211 | $ | 652 | $ | 1,119 | $ | 2,219 | ||||||||
Class C | $ | 211 | $ | 652 | $ | 1,119 | $ | 2,410 |
Portfolio Turnover. Each 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. Those costs, which are not reflected in annual Fund operating expenses or in the example expenses, affect a Fund’s performance. During the year ended May 31, 2015, each Fund’s portfolio turnover rate was the following percentage of the average value of the Fund’s portfolio:
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Fund | Percentage of the Average Value of the Fund’s Portfolio | |
Columbia Multi-Advisor Small Cap Value Fund (Selling Fund) | 65% | |
Columbia Select Smaller-Cap Value Fund (Buying Fund) | 26% |
Proposal 4 Fees and Expenses. Reorganization of Columbia International Value Fund into Columbia Overseas Value Fund
Current and Pro Forma Fees and Expenses
Shareholder Fees (fees paid directly from your investment)
Columbia International Value Fund (Current) (Selling Fund) | Class A | Class B | Class C | Class I | Class R | Class R4 | Class R5 | Class Z | ||||||||||||||||||||||||
Maximum sales charge (load) imposed on purchases (as a percentage of offering price) | 5.75 | % | None | None | None | None | None | None | None | |||||||||||||||||||||||
Maximum deferred sales charge (load) imposed on redemptions (as a percentage of net asset value at the time of your purchase or redemption, whichever is lower) | 1.00 | %(1) | 5.00 | %(2) | 1.00 | %(3) | None | None | None | None | None | |||||||||||||||||||||
Columbia Overseas Value Fund (Current and Pro Forma) (Buying Fund) | Class A | Class B | Class C | Class I | Class R | Class R4 | Class R5 | Class Z | ||||||||||||||||||||||||
Maximum sales charge (load) imposed on purchases (as a percentage of offering price) | 5.75 | % | None | None | None | None | None | None | None | |||||||||||||||||||||||
Maximum deferred sales charge (load) imposed on redemptions (as a percentage of net asset value at the time of your purchase or redemption, whichever is lower) | 1.00 | %(1) | 5.00 | %(2) | 1.00 | %(3) | None | None | None | None | None |
Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment):
Columbia International Value Fund (Current) (Selling Fund) | Class A | Class B | Class C | Class I | Class R | Class R4 | Class R5 | Class Z | ||||||||||||||||||||||||
Management fees(4) | 0.87 | % | 0.87 | % | 0.87 | % | 0.87 | % | 0.87 | % | 0.87 | % | 0.87 | % | 0.87 | % | ||||||||||||||||
Distribution and/or service (12b-1) fees | 0.25 | % | 1.00 | % | 1.00 | % | 0.00 | % | 0.50 | % | 0.00 | % | 0.00 | % | 0.00 | % | ||||||||||||||||
Other expenses(4)(5) | 0.34 | % | 0.34 | % | 0.34 | % | 0.14 | % | 0.34 | % | 0.34 | % | 0.19 | % | 0.34 | % | ||||||||||||||||
Acquired fund fees and expenses | 0.01 | % | 0.01 | % | 0.01 | % | 0.01 | % | 0.01 | % | 0.01 | % | 0.01 | % | 0.01 | % | ||||||||||||||||
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Total annual Fund operating expenses(6) | 1.47 | % | 2.22 | % | 2.22 | % | 1.02 | % | 1.72 | % | 1.22 | % | 1.07 | % | 1.22 | % |
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Columbia Overseas Value Fund (Current) (Buying Fund) | Class A | Class B | Class C | Class I | Class R | Class R4 | Class R5 | Class Z | ||||||||||||||||||||||||
Management fees(4) | 0.86 | % | 0.86 | % | 0.86 | % | 0.86 | % | 0.86 | % | 0.86 | % | 0.86 | % | 0.86 | % | ||||||||||||||||
Distribution and/or service (12b-1) fees | 0.25 | % | 1.00 | % | 1.00 | % | 0.00 | % | 0.50 | % | 0.00 | % | 0.00 | % | 0.00 | % | ||||||||||||||||
Other expenses(4)(5) | 0.26 | % | 0.26 | % | 0.26 | % | 0.06 | % | 0.26 | % | 0.26 | % | 0.11 | % | 0.26 | % | ||||||||||||||||
Acquired fund fees and expenses | 0.01 | % | 0.01 | % | 0.01 | % | 0.01 | % | 0.01 | % | 0.01 | % | 0.01 | % | 0.01 | % | ||||||||||||||||
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Total annual Fund operating expenses(6) | 1.38 | % | 2.13 | % | 2.13 | % | 0.93 | % | 1.63 | % | 1.13 | % | 0.98 | % | 1.13 | % | ||||||||||||||||
Columbia Overseas Value Fund (Pro Forma) (Buying Fund) | Class A | Class B | Class C | Class I | Class R | Class R4 | Class R5 | Class Z | ||||||||||||||||||||||||
Management fees(7) | 0.85 | % | 0.85 | % | 0.85 | % | 0.85 | % | 0.85 | % | 0.85 | % | 0.85 | % | 0.85 | % | ||||||||||||||||
Distribution and/or service (12b-1) fees | 0.25 | % | 1.00 | % | 1.00 | % | 0.00 | % | 0.50 | % | 0.00 | % | 0.00 | % | 0.00 | % | ||||||||||||||||
Other expenses(5)(7) | 0.26 | % | 0.26 | % | 0.26 | % | 0.06 | % | 0.26 | % | 0.26 | % | 0.11 | % | 0.26 | % | ||||||||||||||||
Acquired fund fees and expenses | 0.01 | % | 0.01 | % | 0.01 | % | 0.01 | % | 0.01 | % | 0.01 | % | 0.01 | % | 0.01 | % | ||||||||||||||||
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Total annual Fund operating expenses(6) | 1.37 | % | 2.12 | % | 2.12 | % | 0.92 | % | 1.62 | % | 1.12 | % | 0.97 | % | 1.12 | % |
(1) | This charge is imposed on certain investments of between $1 million and $50 million redeemed within 18 months after purchase, as follows: 1.00% if redeemed within 12 months after purchase, and 0.50% if redeemed more than 12, but less than 18, months after purchase, with certain limited exceptions. |
(2) | This charge decreases over time. |
(3) | This charge applies to redemptions within 12 months after purchase, with certain limited exceptions. |
(4) | Management fees reflect the combination of advisory and administrative services fees under one agreement providing for a single management fee. As a result, other expenses do not include administrative services fees. Advisory fees and administrative services fees payable pursuant to separate prior agreements amounted to 0.79% and 0.08%, respectively, of average daily net assets for Columbia International Value Fund and 0.78% and 0.08%, respectively, of average daily net assets for Columbia Overseas Value Fund. |
(5) | With the exception of Class I shares, other expenses have been restated to reflect current transfer agency fees paid by the Fund. For Columbia Overseas Value Fund, other expenses for Class R, Class R4 and Class R5 shares are based on estimated amounts for the Fund’s current fiscal year. |
(6) | “Total annual Fund operating expenses” include acquired fund fees and expenses (expenses the Fund incurs indirectly through its investments in other investment companies) and may be higher than “Total Net Expenses” shown in the Financial Highlights section of this prospectus because “Total Net Expenses” do not include acquired fund fees and expenses. |
(7) | Management fees reflect the combination of advisory and administrative services fees under one agreement providing for a single management fee. As a result, other expenses do not include administrative services fees. |
Expense examples: These examples are intended to help you compare the cost of investing in each Fund with the cost of investing in other mutual funds. These examples assume that you invest $10,000 in the applicable Fund for the time periods indicated and then redeem all of your shares at the end of those periods, both under the current arrangements and, for the Buying Fund, assuming completion of the proposed Reorganization. These examples also assume that your investment has a 5% return each year and that each Fund’s operating expenses remain the same. Although your actual costs may be higher or lower, based on those assumptions your costs would be:
1 year | 3 years | 5 years | 10 years | |||||||||||||
Columbia International Value Fund (Current) (Selling Fund) | ||||||||||||||||
Class A | $ | 716 | $ | 1,013 | $ | 1,332 | $ | 2,231 | ||||||||
Class B | $ | 725 | $ | 994 | $ | 1,390 | $ | 2,365 | ||||||||
Class C | $ | 325 | $ | 694 | $ | 1,190 | $ | 2,554 | ||||||||
Class I | $ | 104 | $ | 325 | $ | 563 | $ | 1,248 | ||||||||
Class R | $ | 175 | $ | 542 | $ | 933 | $ | 2,030 | ||||||||
Class R4 | $ | 124 | $ | 387 | $ | 670 | $ | 1,477 | ||||||||
Class R5 | $ | 109 | $ | 340 | $ | 590 | $ | 1,306 | ||||||||
Class Z | $ | 124 | $ | 387 | $ | 670 | $ | 1,477 |
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1 year | 3 years | 5 years | 10 years | |||||||||||||
Columbia Overseas Value Fund (Current) (Buying Fund) | ||||||||||||||||
Class A | $ | 707 | $ | 987 | $ | 1,287 | $ | 2,137 | ||||||||
Class B | $ | 716 | $ | 967 | $ | 1,344 | $ | 2,271 | ||||||||
Class C | $ | 316 | $ | 667 | $ | 1,144 | $ | 2,462 | ||||||||
Class I | $ | 95 | $ | 296 | $ | 515 | $ | 1,143 | ||||||||
Class R | $ | 166 | $ | 514 | $ | 887 | $ | 1,933 | ||||||||
Class R4 | $ | 115 | $ | 359 | $ | 622 | $ | 1,375 | ||||||||
Class R5 | $ | 100 | $ | 312 | $ | 542 | $ | 1,201 | ||||||||
Class Z | $ | 115 | $ | 359 | $ | 622 | $ | 1,375 | ||||||||
Columbia Overseas Value Fund (Pro Forma) (Buying Fund) | ||||||||||||||||
Class A | $ | 706 | $ | 984 | $ | 1,282 | $ | 2,127 | ||||||||
Class B | $ | 715 | $ | 964 | $ | 1,339 | $ | 2,261 | ||||||||
Class C | $ | 315 | $ | 664 | $ | 1,139 | $ | 2,452 | ||||||||
Class I | $ | 94 | $ | 293 | $ | 509 | $ | 1,131 | ||||||||
Class R | $ | 165 | $ | 511 | $ | 881 | $ | 1,922 | ||||||||
Class R4 | $ | 114 | $ | 356 | $ | 617 | $ | 1,363 | ||||||||
Class R5 | $ | 99 | $ | 309 | $ | 536 | $ | 1,190 | ||||||||
Class Z | $ | 114 | $ | 356 | $ | 617 | $ | 1,363 |
If you owned or will own any class of shares other than Class B or Class C you would pay the same costs shown in the tables above if you did not redeem your shares at the end of the periods indicated. If you owned or will own Class B or Class C shares, you would pay the following costs if you did not redeem your shares at the end of the periods indicated, which may be different than the costs shown in the tables above.
1 year | 3 years | 5 years | 10 years | |||||||||||||
Columbia International Value Fund (Current) (Selling Fund) | ||||||||||||||||
Class B | $ | 225 | $ | 694 | $ | 1,190 | $ | 2,365 | ||||||||
Class C | $ | 225 | $ | 694 | $ | 1,190 | $ | 2,554 | ||||||||
Columbia Overseas Value Fund (Current) (Buying Fund) | ||||||||||||||||
Class B | $ | 216 | $ | 667 | $ | 1,144 | $ | 2,271 | ||||||||
Class C | $ | 216 | $ | 667 | $ | 1,144 | $ | 2,462 | ||||||||
Columbia Overseas Value Fund (Pro Forma) (Buying Fund) | ||||||||||||||||
Class B | $ | 215 | $ | 664 | $ | 1,139 | $ | 2,261 | ||||||||
Class C | $ | 215 | $ | 664 | $ | 1,139 | $ | 2,452 |
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Portfolio Turnover. Each 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. Those costs, which are not reflected in annual Fund operating expenses or in the example expenses, affect a Fund’s performance. During the most recent fiscal year, each Fund’s portfolio turnover rate was the following percentage of the average value of the Fund’s portfolio:
Fund | Percentage of the Average Value of the Fund’s Portfolio | |||
Columbia International Value Fund (Current) (Selling Fund) | 80 | % | ||
Columbia Overseas Value Fund (Current) (Buying Fund) | 74 | % |
Proposal 5 Fees and Expenses. Reorganization of Columbia International Opportunities Fund into Columbia Select International Equity Fund
Current and Pro Forma Fees and Expenses
Shareholder Fees (fees paid directly from your investment)
Columbia International Opportunities Fund (Current) (Selling Fund) | Class A | Class B | Class C | Class I | Class R | Class R4 | Class Z | |||||||||||||||||||||
Maximum sales charge (load) imposed on purchases (as a percentage of offering price) | 5.75 | % | None | None | None | None | None | None | ||||||||||||||||||||
Maximum deferred sales charge (load) imposed on redemptions (as a percentage of net asset value at the time of your purchase or redemption, whichever is lower) | 1.00 | %(1) | 5.00 | %(2) | 1.00 | %(3) | None | None | None | None |
Columbia Select International Equity Fund (Current and Pro Forma) (Buying Fund) | Class A | Class B | Class C | Class I | Class R | Class R4 | Class Z | |||||||||||||||||||||
Maximum sales charge (load) imposed on purchases (as a percentage of offering price) | 5.75 | % | None | None | None | None | None | None | ||||||||||||||||||||
Maximum deferred sales charge (load) imposed on redemptions (as a percentage of net asset value at the time of your purchase or redemption, whichever is lower) | 1.00 | %(1) | 5.00 | %(2) | 1.00 | %(3) | None | None | None | None |
Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment):
Columbia International Opportunities Fund (Current) (Selling Fund) | Class A | Class B | Class C | Class I | Class R | Class R4 | Class Z | |||||||||||||||||||||
Management fees(4) | 0.87 | % | 0.87 | % | 0.87 | % | 0.87 | % | 0.87 | % | 0.87 | % | 0.87 | % | ||||||||||||||
Distribution and/or service (12b-1) fees | 0.25 | % | 1.00 | % | 1.00 | % | 0.00 | % | 0.50 | % | 0.00 | % | 0.00 | % | ||||||||||||||
Other expenses(4)(5) | 0.34 | % | 0.34 | % | 0.34 | % | 0.18 | % | 0.34 | % | 0.34 | % | 0.34 | % | ||||||||||||||
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Total annual Fund operating expenses(6) | 1.46 | % | 2.21 | % | 2.21 | % | 1.05 | % | 1.71 | % | 1.21 | % | 1.21 | % |
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Columbia Select International Equity Fund (Current) (Buying Fund) | Class A | Class B | Class C | Class I | Class R | Class R4 | Class Z | |||||||||||||||||||||
Management fees(4) | 0.86 | % | 0.86 | % | 0.86 | % | 0.86 | % | 0.86 | % | 0.86 | % | 0.86 | % | ||||||||||||||
Distribution and/or service (12b-1) fees | 0.25 | % | 1.00 | % | 1.00 | % | 0.00 | % | 0.50 | % | 0.00 | % | 0.00 | % | ||||||||||||||
Other expenses(4)(5) | 0.37 | % | 0.37 | % | 0.37 | % | 0.09 | % | 0.37 | % | 0.37 | % | 0.37 | % | ||||||||||||||
Total annual Fund operating expenses(6) | 1.48 | % | 2.23 | % | 2.23 | % | 0.95 | % | 1.73 | % | 1.23 | % | 1.23 | % |
Columbia Select International Equity Fund (Pro Forma) (Buying Fund) | Class A | Class B | Class C | Class I | Class R | Class R4 | Class Z | |||||||||||||||||||||
Management fees(7) | 0.86 | % | 0.86 | % | 0.86 | % | 0.86 | % | 0.86 | % | 0.86 | % | 0.86 | % | ||||||||||||||
Distribution and/or service (12b-1) fees | 0.25 | % | 1.00 | % | 1.00 | % | 0.00 | % | 0.50 | % | 0.00 | % | 0.00 | % | ||||||||||||||
Other expenses(5)(7) | 0.34 | % | 0.34 | % | 0.34 | % | 0.08 | % | 0.34 | % | 0.34 | % | 0.34 | % | ||||||||||||||
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Total annual Fund operating expenses(6) | 1.45 | % | 2.20 | % | 2.20 | % | 0.94 | % | 1.70 | % | 1.20 | % | 1.20 | % | ||||||||||||||
Less: Fee waivers and/or reimbursements(8) | (0.03 | )% | (0.03 | )% | (0.03 | )% | 0.00 | % | (0.03 | )% | (0.03 | )% | (0.03 | )% | ||||||||||||||
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Total annual Fund operating expenses after the fee waivers and/or reimbursements | 1.42 | % | 2.17 | % | 2.17 | % | 0.94 | % | 1.67 | % | 1.17 | % | 1.17 | % |
(1) | This charge is imposed on certain investments of between $1 million and $50 million redeemed within 18 months after purchase, as follows: 1.00% if redeemed within 12 months after purchase, and 0.50% if redeemed more than 12, but less than 18, months after purchase, with certain limited exceptions. |
(2) | This charge decreases over time. |
(3) | This charge applies to redemptions within 12 months after purchase, with certain limited exceptions. |
(4) | Management fees reflect the combination of advisory and administrative services fees under one agreement providing for a single management fee. As a result, other expenses do not include administrative services fees. Advisory fees and administrative services fees payable pursuant to separate prior agreements amounted to 0.79% and 0.08%, respectively, of average daily net assets for Columbia International Opportunities Fund and to 0.78% and 0.08%, respectively, of average daily net assets for Columbia Select International Equity Fund. |
(5) | With the exception of Class I shares, other expenses have been restated to reflect current transfer agency fees paid by the Fund. |
(6) | Columbia Threadneedle and certain of its affiliates have contractually agreed to waive fees and/or to reimburse expenses (excluding transaction costs and certain other investment related expenses, interest, taxes, acquired fund fees and expenses, and extraordinary expenses) until June 30, 2016, unless sooner terminated at the sole discretion of each Fund’s Board of Trustees. Under these agreements, net operating expenses for Columbia International Opportunities Fund, subject to applicable exclusions, will not exceed the annual rates of 1.42% for Class A, 2.17% for Class B, 2.17% for Class C, 1.02% for Class I, 1.67% for Class R, 1.17% for Class R4 and 1.17% for Class Z, and net operating expenses for Columbia Select International Equity Fund, subject to applicable exclusions, will not exceed the annual rates of 1.42% for Class A, 2.17% for Class B, 2.17% for Class C, 0.98% for Class I, 1.67% for Class R, 1.17% for Class R4 and 1.17% for Class Z. |
(7) | Management fees reflect the combination of advisory and administrative services fees under one agreement providing for a single management fee. As a result, other expenses do not include administrative services fees. |
(8) | Columbia Threadneedle and certain of its affiliates have further contractually agreed, assuming approval by shareholders of the Reorganization, effective upon the closing of the reorganization to waive fees and/or to reimburse expenses (excluding certain fees and expenses, such as any reorganization costs, transaction costs and certain other investment related expenses, interest, taxes, acquired fund fees and expenses, and extraordinary expenses) until June 30, 2017, unless sooner terminated at the sole discretion of the Fund’s Board of Trustees. Under this agreement, the Fund’s net operating expenses, subject to applicable exclusions, will not exceed the annual rates of 1.42% for Class A, 2.17% for Class B, 2.17% for Class C, 0.98% for Class I, 1.67% for Class R, 1.17% for Class R4 and 1.17% for Class Z. |
Expense examples: These examples are intended to help you compare the cost of investing in each Fund with the cost of investing in other mutual funds. These examples assume that you invest $10,000 in the applicable Fund for the time periods indicated and then redeem all of your shares at the end of those periods, both under the current arrangements and, for the Buying Fund, assuming completion of the proposed Reorganization. These examples also assume that your investment has a 5% return each year and that each Fund’s operating expenses remain the same. These examples include any contractual fee waiver/expense reimbursement arrangement only for the period indicated in the Fund’s Annual Fund Operating Expenses table. Although your actual costs may be higher or lower, based on those assumptions your costs would be:
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1 year | 3 years | 5 years | 10 years | |||||||||||||
Columbia International Opportunities Fund (Current) (Selling Fund) | ||||||||||||||||
Class A | $ | 715 | $ | 1,010 | $ | 1,327 | $ | 2,221 | ||||||||
Class B | $ | 724 | $ | 991 | $ | 1,385 | $ | 2,355 | ||||||||
Class C | $ | 324 | $ | 691 | $ | 1,185 | $ | 2,544 | ||||||||
Class I | $ | 107 | $ | 334 | $ | 579 | $ | 1,283 | ||||||||
Class R | $ | 174 | $ | 539 | $ | 928 | $ | 2,019 | ||||||||
Class R4 | $ | 123 | $ | 384 | $ | 665 | $ | 1,466 | ||||||||
Class Z | $ | 123 | $ | 384 | $ | 665 | $ | 1,466 | ||||||||
Columbia Select International Equity Fund (Current) (Buying Fund) | ||||||||||||||||
Class A | $ | 717 | $ | 1,016 | $ | 1,336 | $ | 2,242 | ||||||||
Class B | $ | 726 | $ | 997 | $ | 1,395 | $ | 2,376 | ||||||||
Class C | $ | 326 | $ | 697 | $ | 1,195 | $ | 2,565 | ||||||||
Class I | $ | 97 | $ | 303 | $ | 525 | $ | 1,166 | ||||||||
Class R | $ | 176 | $ | 545 | $ | 939 | $ | 2,041 | ||||||||
Class R4 | $ | 125 | $ | 390 | $ | 676 | $ | 1,489 | ||||||||
Class Z | $ | 125 | $ | 390 | $ | 676 | $ | 1,489 | ||||||||
Columbia Select International Equity Fund (Pro Forma) (Buying Fund) | ||||||||||||||||
Class A | $ | 711 | $ | 1,004 | $ | 1,319 | $ | 2,208 | ||||||||
Class B | $ | 720 | $ | 985 | $ | 1,377 | $ | 2,342 | ||||||||
Class C | $ | 320 | $ | 685 | $ | 1,177 | $ | 2,532 | ||||||||
Class I | $ | 96 | $ | 300 | $ | 520 | $ | 1,155 | ||||||||
Class R | $ | 170 | $ | 533 | $ | 920 | $ | 2,006 | ||||||||
Class R4 | $ | 119 | $ | 378 | $ | 657 | $ | 1,452 | ||||||||
Class Z | $ | 119 | $ | 378 | $ | 657 | $ | 1,452 |
If you owned or will own any class of shares other than Class B or Class C you would pay the same costs shown in the tables above if you did not redeem your shares at the end of the periods indicated. If you owned or will own Class B or Class C shares, you would pay the following costs if you did not redeem your shares at the end of the periods indicated, which may be different than the costs shown in the tables above.
1 year | 3 years | 5 years | 10 years | |||||||||||||
Columbia International Opportunities Fund (Current) (Selling Fund) | ||||||||||||||||
Class B | $ | 224 | $ | 691 | $ | 1,185 | $ | 2,355 | ||||||||
Class C | $ | 224 | $ | 691 | $ | 1,185 | $ | 2,544 | ||||||||
Columbia Select International Equity Fund (Current) (Buying Fund) | ||||||||||||||||
Class B | $ | 226 | $ | 697 | $ | 1,195 | $ | 2,376 | ||||||||
Class C | $ | 226 | $ | 697 | $ | 1,195 | $ | 2,565 | ||||||||
Columbia Select International Equity Fund (Pro Forma) (Buying Fund) | ||||||||||||||||
Class B | $ | 220 | $ | 685 | $ | 1,177 | $ | 2,342 | ||||||||
Class C | $ | 220 | $ | 685 | $ | 1,177 | $ | 2,532 |
Portfolio Turnover. Each 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. Those costs, which are not reflected in annual Fund operating expenses or in the example expenses, affect a Fund’s performance. During the most recent fiscal year, each Fund’s portfolio turnover rate was the following percentage of the average value of the Fund’s portfolio:
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Fund | Percentage of the Average Value of the Fund’s Portfolio | |
Columbia International Opportunities Fund (Current) (Selling Fund) | 165% | |
Columbia Select International Equity Fund (Current) (Buying Fund) | 96% |
Proposal 1. Comparison of Objectives, Strategies and Risks. Reorganization of Columbia Value and Restructuring Fund into Columbia Contrarian Core Fund
Comparison of the Selling Fund and the Buying Fund
The Selling Fund and the Buying Fund:
• | Have Columbia Threadneedle as investment manager. |
• | Have similar investment objectives and principal investment strategies. |
• | Have the same lead portfolio manager. |
• | Have the same policies for buying and selling shares and the same exchange rights. Please see Exhibit B for a description of these policies for the Buying Fund. |
• | Are structured as series of an open-end management investment company. Each Fund is organized as a series of a Massachusetts business trust. |
Comparison of Investment Objectives
The investment objectives of the Funds are as follows:
Selling Fund: Columbia Value and Restructuring Fund seeks long-term capital appreciation.
Buying Fund: Columbia Contrarian Core Fund seeks total return, consisting of long-term capital appreciation and current income.
While both Funds seek long-term capital appreciation, the Buying Fund expressly includes current income in its goal of total return.
Because any investment involves risk, there can be no assurance that any Fund’s objective will be achieved. Each Fund’s investment objective may be changed by the Fund’s Board of Trustees without shareholder approval.
Comparison of Principal Investment Strategies
The Funds have similar principal investment strategies. Each Fund invests primarily in common stocks that have large market capitalizations. Each Fund normally invests at least 80% of its net assets in equity securities of U.S. companies that have large market capitalizations (generally over $2 billion) that the Fund’s investment manager believes are undervalued and have the potential for long-term growth and current income (for the Buying Fund) or long-term capital appreciation (for the Selling Fund). Although each Fund invests primarily in companies that have larger market capitalizations, the Selling Fund may invest in companies that have market capitalizations of any size. As of December 1, 2015, the Buying Fund and the Selling Fund had invested 96.35% and 97.46% of their net assets, respectively, in securities that have large market capitalizations. Each Fund may also invest in foreign securities, either directly or indirectly through depositary receipts, although the Buying Fund limits such investments to 20% of its net assets. As of December 1, 2015, the Buying Fund and the Selling Fund had invested 11.63% and 11.83% of their net assets, respectively, in foreign securities. The Selling Fund may also invest in common stocks of companies that the Fund’s investment manager believes may benefit from various types of restructuring efforts or industry consolidation, or that are involved in initial public offerings, tender offers, mergers and other corporate restructurings, management changes, or other special situations. The Buying Fund has no similar principal investment strategy, though it may invest in such companies.
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Additional information regarding the principal investment strategies of each Fund is set forth below:
Columbia Value and Restructuring Fund (Selling Fund) | Columbia Contrarian Core Fund (Buying Fund) | |
Under normal circumstances, the Fund invests at least 80% of its assets (including the amount of any borrowings for investment purposes) in common stocks of companies that are believed to be undervalued and have the potential for long-term appreciation. The Fund also invests in common stocks of companies that the Fund’s investment manager believes may benefit from various types of restructuring efforts or industry consolidation. The Fund primarily invests in companies that have larger market capitalizations (generally over $2 billion) but may invest in companies that have market capitalizations of any size. | Under normal circumstances, the Fund invests at least 80% of its net assets (including the amount of any borrowings for investment purposes) in common stocks. In addition, under normal circumstances, the Fund invests at least 80% of its net assets in equity securities of U.S. companies that have large market capitalizations (generally over $2 billion) that the Fund’s investment manager believes are undervalued and have the potential for long-term growth and current income. | |
Although the Fund invests primarily in securities of U.S. companies, it may invest in foreign securities directly or indirectly through depositary receipts. | The Fund may also invest up to 20% of its net assets in foreign securities. The Fund may invest directly in foreign securities or indirectly through depositary receipts.
| |
The Fund may invest in special situations such as companies involved in initial public offerings, tender offers, mergers and other corporate restructurings, and in companies involved in management changes or companies developing new technologies. | No similar principal investment strategy. |
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Buying Fund Investment Style
A description of the investment style of the Buying Fund is set forth below.
Columbia Threadneedle combines fundamental and quantitative analysis with risk management in identifying investment opportunities and constructing the Buying Fund’s portfolio. Columbia Threadneedle considers, among other factors:
• | various measures of valuation, including price-to-cash flow, price-to-earnings, price-to-sales, price-to-book value and discounted cash flow. Columbia Threadneedle believes that companies with lower valuations are generally more likely to provide opportunities for capital appreciation; |
• | potential indicators of stock price appreciation, such as anticipated earnings growth, company restructuring, changes in management, business model changes, new product opportunities, or anticipated improvements in macroeconomic factors; |
• | the financial condition and management of a company, including its competitive position, the quality of its balance sheet and earnings, its future prospects, and the potential for growth and stock price appreciation; and/or |
• | overall economic and market conditions. |
Columbia Threadneedle may sell a security when the security’s price reaches a target set by Columbia Threadneedle; if Columbia Threadneedle believes that there is deterioration in the issuer’s financial circumstances or fundamental prospects, or that other investments are more attractive; or for other reasons.
Comparison of Fundamental Investment Policies
The Funds have the same fundamental investment policies and therefore the management of the combined Fund in accordance with the fundamental investment policies of the Buying Fund following the Reorganization will not result in any material differences between the way the Funds have been managed and the way the combined Fund will be managed. A “fundamental” investment policy is one that may not be changed without a shareholder vote.
Comparison of Additional Non-Fundamental Investment Policies
If the Reorganization occurs, the combined Fund will be subject to the non-fundamental investment policies (policies that may be changed without a shareholder vote) of the Buying Fund. Columbia Threadneedle does not believe that the differences between the non-fundamental policies of the Funds result in any material differences between the way the Funds have been managed and the way the combined Fund will be managed.
The Funds’ non-fundamental investment policies are set forth below:
Policy | Columbia Value and Restructuring Fund (Selling Fund) | Columbia Contrarian Core Fund (Buying Fund) | ||
Illiquid Securities | No more than 15% of the net assets of the Fund will be held in securities and other instruments that are illiquid. “Illiquid Securities” are defined in accordance with the SEC staff’s current guidance and interpretations which provide that an illiquid security is a security which may not be sold or disposed of in the ordinary course of business within seven days at approximately the value at which the Fund has valued the security. | |||
Securities of Other Investment Companies | The Fund may not purchase securities of other investment companies except to the extent permitted by the 1940 Act, the rules and regulations thereunder and any applicable exemptive relief. If shares of the Fund are purchased by another Fund in reliance on Section 12(d)(1)(G) of the 1940 Act, for so long as shares of the Fund are held by such other fund, the Fund will not purchase securities of a registered open-end investment company or registered unit investment trust in reliance on Section 12(d)(1)(F) or Section 12(d)(1)(G) of the 1940 Act.
| |||
Foreign Securities | No stated policy. | The Fund may invest up to 20% of its net assets in foreign securities. | ||
Short Selling | The Fund may not sell securities short. | The Fund may not sell securities short, except as permitted by the 1940 Act, the rules and regulations thereunder and any applicable exemptive relief. |
Differences between the Selling Fund’s principal investment strategies and non-fundamental investment policies and holdings and those of the Buying Fund may expose the Selling Fund’s shareholders to new or increased risks. A comparison of the principal risks of investing in the Selling Fund and the Buying Fund is provided under “Comparison of Principal Risks” below.
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Although the Funds describe them somewhat differently, the principal risks associated with investments in the Buying Fund and the Selling Fund are generally similar because the Funds have similar investment objectives, principal investment strategies and investment policies. The actual risks of investing in each Fund depend on the securities held in each Fund’s portfolio and on market conditions, both of which change over time. The Buying Fund is subject to the principal risks described below. The Selling Fund is also subject to each of the principal risks identified below and, in addition, is subject to special situations risk – the risk of investing in companies that are involved in a major corporate event, such as a business consolidation or restructuring – as a principal risk. The Buying Fund may be subject to special situations risk to some extent, but does not consider it to be a principal risk.
• | Active Management Risk – Due to its active management, the Buying Fund could underperform its benchmark index and/or other funds with similar investment objectives. The Buying Fund may fail to achieve its investment objective and you may lose money. |
• | Depositary Receipts Risk – Depositary receipts are receipts issued by a bank or trust company reflecting ownership of underlying securities issued by foreign companies. Some foreign securities are traded in the form of American Depositary Receipts (ADRs). Depositary receipts involve risks similar to the risks associated with investments in foreign securities, including those of the particular country, which may be related to the particular political, regulatory, economic, social and other conditions or events occurring in the country and fluctuations in its currency, as well as market risk tied to the underlying foreign company. In addition, ADR holders may have limited voting rights and may not have the same rights afforded typical company stockholders in the event of a corporate action such as an acquisition, merger or rights offering and may experience difficulty in receiving company stockholder communications. |
• | Foreign Securities Risk – Investments in or exposure to foreign securities involve certain risks not associated with investments in or exposure to securities of U.S. companies. Foreign securities subject the Buying Fund to the risks associated with investing in the particular country of an issuer, including the political, regulatory, economic, social, diplomatic and other conditions or events occurring in the country or region, as well as risks associated with less developed custody and settlement practices. Foreign securities may be more volatile and less liquid than securities of U.S. companies, and are subject to the risks associated with potential imposition of economic and other sanctions against a particular foreign country, its nationals or industries or businesses within the country. The performance of the Buying Fund may be negatively impacted by fluctuations in a foreign currency’s strength or weakness relative to the U.S. dollar, particularly if the Buying Fund invests a significant percentage of its assets in foreign securities or other assets denominated in currencies other than the U.S. dollar. |
• | Growth Securities Risk – Growth securities typically trade at a higher multiple of earnings than other types of equity securities. Accordingly, the market values of growth securities may never reach their expected market value and may decline in price. In addition, growth securities, at times, may not perform as well as value securities or the stock market in general, and may be out of favor with investors for varying periods of time. |
• | Issuer Risk – An issuer in which the Buying Fund invests or to which it has exposure may perform poorly, and the value of its securities may therefore decline, which would negatively affect the Buying Fund’s performance. Poor performance may be caused by poor management decisions, competitive pressures, breakthroughs in technology, reliance on suppliers, labor problems or shortages, corporate restructurings, fraudulent disclosures, natural disasters or other events, conditions or factors. |
• | Market Risk – Market risk refers to the possibility that the market values of securities or other investments that the Buying Fund holds will fall, sometimes rapidly or unpredictably, or fail to rise. An investment in the Buying Fund could lose money over short or long periods. Although equity securities generally tend to have greater price volatility than debt securities, under certain market conditions, debt securities may have comparable or greater price volatility. |
• | Value Securities Risk – Value securities are securities of companies that may have experienced, for example, adverse business, industry or other developments or may be subject to special risks that have caused the securities to be out of favor and, in turn, potentially undervalued. The market value of a portfolio security may not meet the portfolio manager’s perceived value assessment of that security, or may decline in price, even though the portfolio manager(s) believe(s) the securities are already undervalued. There is also a risk that it may take longer than expected for the value of these investments to rise to the portfolio manager’s perceived value. In addition, value securities, at times, may not perform as well as growth securities or the stock market in general, and may be out of favor with investors for varying periods of time. |
The following bar charts and tables provide some illustration of the risks of investing in the Funds by showing, respectively:
• | how each Fund’s performance has varied for each full calendar year shown in the bar chart; and |
• | how each Fund’s average annual total returns compare to certain measures of market performance shown in the table. |
Both the bar charts and the tables assume that all distributions have been reinvested. The performance of different classes varies because of differences in sales charges and other fees and expenses. How a Fund has performed in the past (before and after taxes) does not indicate how the Fund will perform in the future. The performance shown reflects any fee waiver or expense reimbursement arrangements in effect for the periods reported. In the absence of such fee waiver or expense reimbursement arrangements, the performance shown would have been lower.
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Bar Charts. Class Z share information is shown in the bar charts.
Tables. The tables below show total returns (after applicable sales charges as shown in the Shareholder Fees section of this combined proxy statement/prospectus) from hypothetical investments in the indicated classes of shares of each Fund. The returns shown are compared to broad measures of market performance shown for the same periods.
The inception date of the Selling Fund’s Class Z shares is December 31, 1992. The returns shown for the remaining share classes in the table below begin before the indicated inception date for such share class. The returns shown for each such share class include the returns of the Fund’s Class Z shares (adjusted to reflect the higher class-related operating expenses of such classes, where applicable) for periods prior to its inception date. Except for differences in annual returns resulting from differences in expenses and sales charges (where applicable), the share classes of the Fund would have substantially similar annual returns because all share classes of the Fund invest in the same portfolio of securities.
The inception date of the Buying Fund’s Class Z shares is December 14, 1992. The returns shown for the remaining share classes in the table below begin before the indicated inception date for such share class. The returns shown for each such share class include the returns of the Fund’s Class A shares (adjusted to reflect the higher class-related operating expenses of such classes, where applicable) for periods prior to its inception date. Except for differences in annual returns resulting from differences in expenses and sales charges (where applicable), the share classes of the Fund would have substantially similar annual returns because all share classes of the Fund invest in the same portfolio of securities.
After-Tax Returns
The after-tax returns shown in the Average Annual Total Returns table below are calculated using the highest historical individual U.S. federal marginal income tax rates and do not reflect the impact of state, local or foreign taxes. Your actual after-tax returns will depend on your personal tax situation and may differ from those shown in the table. In addition, the after-tax returns shown in the table do not apply to shares held in tax-advantaged accounts such as 401(k) plans or Individual Retirement Accounts (IRAs). The after-tax returns are shown only for Class Z shares and will vary for other share classes.
Columbia Value and Restructuring Fund (Selling Fund)
CLASS Z SHARE PERFORMANCE
(based on calendar years)
During the periods shown in the bar chart, the highest return for a calendar quarter was +25.59% (quarter ended June 30, 2009) and the lowest return for a calendar quarter was -30.37% (quarter ended December 31, 2008).
These returns do not reflect deductions of sales charges, if any, paid by investors and would be lower if they did. The performance of other share classes may vary from that shown because of differences in expenses.
The Fund’s Class Z shares year-to-date return at September 30, 2015 was -4.80%.
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Columbia Contrarian Core Fund (Buying Fund)
CLASS Z SHARE PERFORMANCE
(based on calendar years)
During the periods shown in the bar chart, the highest return for a calendar quarter was +20.69% (quarter ended June 30, 2009) and the lowest return for a calendar quarter was -23.17% (quarter ended December 31, 2008).
These returns do not reflect deductions of sales charges, if any, paid by investors and would be lower if they did. The performance of other share classes may vary from that shown because of differences in expenses.
The Fund’s Class Z shares year-to-date return at September 30, 2015 was -4.43%.
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Average Annual Total Returns After Applicable Sales Charges (for periods ended December 31, 2014)
Columbia Value and Restructuring Fund (Current) (Selling Fund) | Share Class Inception Date | 1 year | 5 years | 10 years | ||||||||||||
Class Z | ||||||||||||||||
Return before taxes | 12/31/1992 | 12.87 | % | 13.29 | % | 7.29 | % | |||||||||
Return after taxes on distributions | 8.07 | % | 10.57 | % | 5.88 | % | ||||||||||
Return after taxes on distributions and sale of Fund shares | 10.52 | % | 10.29 | % | 5.74 | % | ||||||||||
Class A | ||||||||||||||||
Return before taxes | 09/28/2007 | 6.08 | % | 11.68 | % | 6.40 | % | |||||||||
Class C | ||||||||||||||||
Return before taxes | 09/28/2007 | 10.79 | % | 12.17 | % | 6.24 | % | |||||||||
Class I | ||||||||||||||||
Return before taxes | 09/27/2010 | 13.09 | % | 13.43 | % | 7.35 | % | |||||||||
Class R | ||||||||||||||||
Return before taxes | 12/31/2004 | 12.27 | % | 12.73 | % | 6.77 | % | |||||||||
Class R4 | ||||||||||||||||
Return before taxes | 11/08/2012 | 12.84 | % | 13.29 | % | 7.29 | % | |||||||||
Class R5 | ||||||||||||||||
Return before taxes | 11/08/2012 | 13.01 | % | 13.36 | % | 7.32 | % | |||||||||
Class W | ||||||||||||||||
Return before taxes | 09/27/2010 | 12.64 | % | 13.04 | % | 7.04 | % | |||||||||
Class Y | ||||||||||||||||
Return before taxes | 11/08/2012 | 13.04 | % | 13.38 | % | 7.33 | % | |||||||||
S&P 500 Index (reflects no deductions for fees, expenses or taxes) | 13.69 | % | 15.45 | % | 7.67 | % | ||||||||||
Russell 1000 Value Index (reflects no deductions for fees, expenses or taxes) | 13.45 | % | 15.42 | % | 7.30 | % |
Average Annual Total Returns After Applicable Sales Charges (for periods ended December 31, 2014)
Columbia Contrarian Core Fund (Buying Fund) | Share Class Inception Date | 1 year | 5 years | 10 years | ||||||||||||
Class Z | ||||||||||||||||
Return before taxes | 12/14/1992 | 12.92 | % | 15.93 | % | 10.30 | % | |||||||||
Return after taxes on distributions | 11.04 | % | 15.02 | % | 9.40 | % | ||||||||||
Return after taxes on distributions and sale of Fund shares | 8.78 | % | 12.80 | % | 8.40 | % | ||||||||||
Class A | ||||||||||||||||
Return before taxes | 11/01/1998 | 6.18 | % | 14.28 | % | 9.38 | % | |||||||||
Class B | ||||||||||||||||
Return before taxes | 11/01/1998 | 6.80 | % | 14.53 | % | 9.20 | % | |||||||||
Class C | ||||||||||||||||
Return before taxes | 12/09/2002 | 10.78 | % | 14.77 | % | 9.21 | % |
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Columbia Contrarian Core Fund (Buying Fund) | Share Class Inception Date | 1 year | 5 years | 10 years | ||||||||||||
Class I | ||||||||||||||||
Return before taxes | 09/27/2010 | 13.12 | % | 16.11 | % | 10.39 | % | |||||||||
Class K | 03/07/2011 | 12.84 | % | 15.79 | % | 10.16 | % | |||||||||
Return before taxes | ||||||||||||||||
Class R | ||||||||||||||||
Return before taxes | 09/27/2010 | 12.37 | % | 15.37 | % | 9.77 | % | |||||||||
Class R4 | ||||||||||||||||
Return before taxes | 11/08/2012 | 12.92 | % | 15.94 | % | 10.31 | % | |||||||||
Class R5 | ||||||||||||||||
Return before taxes | 11/08/2012 | 13.08 | % | 16.01 | % | 10.34 | % | |||||||||
Class T | ||||||||||||||||
Return before taxes | 02/12/1993 | 6.09 | % | 14.21 | % | 9.33 | % | |||||||||
Class W | ||||||||||||||||
Return before taxes | 09/27/2010 | 12.60 | % | 15.64 | % | 10.03 | % | |||||||||
Class Y | ||||||||||||||||
Return before taxes | 11/08/2012 | 13.14 | % | 16.04 | % | 10.35 | % | |||||||||
Russell 1000 Index (reflects no deductions for fees, expenses or taxes) | 13.24 | % | 15.64 | % | 7.96 | % |
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Proposal 2. Comparison of Objectives, Strategies and Risks. Reorganization of each of Columbia Large Cap Growth Fund II, Columbia Large Cap Growth Fund III, Columbia Large Cap Growth Fund IV and Columbia Large Cap Growth Fund V into Columbia Large Cap Growth Fund
Prior to November 20, 2015, Columbia Large Cap Growth Fund II, Columbia Large Cap Growth Fund III, Columbia Large Cap Growth Fund IV and Columbia Large Cap Growth Fund V were known as Columbia Marsico 21st Century Fund, Columbia Marsico Focused Equities Fund, Columbia Marsico Flexible Capital Fund and Columbia Marsico Growth Fund, respectively, and a subadviser was responsible for each Fund’s day-to-day management.
Comparison of each Selling Fund and the Buying Fund
All of the Selling Funds and the Buying Fund:
• | Have Columbia Threadneedle as investment manager. |
• | Have similar investment objectives and principal investment strategies. |
• | Share the same portfolio management team. |
• | Have the same policies for buying and selling shares and the same exchange rights. Please see Exhibit B for a description of these policies for the Buying Fund. |
• | Are structured as series of an open-end management investment company. Each of Columbia Large Cap Growth Fund II, Columbia Large Cap Growth Fund III and Columbia Large Cap Growth Fund V is organized as a series of a Delaware statutory trust. Each of Columbia Large Cap Growth Fund IV and Columbia Large Cap Growth Fund is organized as a series of a Massachusetts business trust. Please see Exhibit C to this combined proxy statement/prospectus for more information regarding the differences between the rights of shareholders of the Selling Funds and shareholders of the Buying Fund. |
Comparison of Investment Objectives
The investment objectives of the Funds are as follows:
Selling Fund: Columbia Large Cap Growth Fund II seeks long-term growth of capital.
Selling Fund: Columbia Large Cap Growth Fund III seeks long-term growth of capital.
Selling Fund: Columbia Large Cap Growth Fund IV seeks to provide shareholders with long-term growth of capital.
Selling Fund: Columbia Large Cap Growth Fund V seeks long-term growth of capital.
Buying Fund: Columbia Large Cap Growth Fund seeks long-term capital appreciation.
Each Fund seeks generally the same investment objective.
Because any investment involves risk, there can be no assurance that a Fund’s investment objective will be achieved. Except for Columbia Large Cap Growth Fund IV, each Fund’s investment objective is not a fundamental policy and may be changed by the Fund’s Board of Trustees without shareholder approval. Only shareholders can change Columbia Large Cap Growth Fund IV’s investment objective.
Comparison of Principal Investment Strategies
The Funds have similar principal investment strategies. Each Fund normally invests at least 80% of its net assets (including the amount of any borrowings for investment purposes) in equity securities of large-capitalization companies, primarily common stocks and securities that can be converted into common stocks. These companies have market capitalizations in the range of companies in the Russell 1000 Growth Index (the Index) at the time of purchase (between $908 million and $688.4 billion as of October 31, 2015). Each Fund invests primarily in common stocks of companies that Columbia Threadneedle believes have the potential for long-term, above-average earnings growth. As of December 1, 2015, each of Columbia Large Cap Growth Fund II, Columbia Large Cap Growth Fund III, Columbia Large Cap Growth Fund IV, Columbia Large Cap Growth Fund V and the Buying Fund had invested 87.66%, 87.39%, 88.37%, 94.73% and 80.70% of their total assets, respectively, in equity securities.
Each Fund may invest up to 20% of its total assets in foreign securities, and may invest directly in foreign securities or indirectly through depositary receipts. As of December 1, 2015, each of Columbia Large Cap Growth Fund II, Columbia Large Cap Growth Fund III, Columbia Large Cap Growth Fund IV, Columbia Large Cap Growth Fund V and the Buying Fund had invested 12.98%, 9.26%, 11.23%, 9.28% and 12.56% of their total assets, respectively, in foreign securities.
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Although Columbia Large Cap Growth Fund III is non-diversified, which means that it can invest a greater percentage of its assets in the securities of fewer issuers than can a diversified fund, it is currently operating as a diversified fund. Each of the other Funds is a diversified Fund. After the Reorganization, the combined Fund will be a diversified Fund.
Each Fund may from time to time emphasize one or more economic sectors in selecting its investments, including the consumer discretionary, health care, and information technology and technology-related sectors.
Buying Fund Investment Style
A description of the investment style of the Buying Fund is set forth below.
Columbia Threadneedle combines fundamental and quantitative analysis with risk management in identifying investment opportunities and constructing the Fund’s portfolio. Columbia Threadneedle considers, among other factors:
• | overall economic and market conditions. |
• | the financial condition and management of a company, including its competitive position, the quality of its balance sheet and earnings, its future prospects, and the potential for growth and stock price appreciation. |
Columbia Threadneedle may sell a security when the security’s price reaches a target set by Columbia Threadneedle; if Columbia Threadneedle believes that there has been deterioration in the issuer’s financial circumstances or fundamental prospects, or that other investments are more attractive; or for other reasons.
Comparison of Fundamental Investment Policies
If the Reorganizations occur, the combined Fund will be subject to the fundamental investment policies of the Buying Fund. Columbia Threadneedle does not believe that the differences between the fundamental investment policies of the Selling Funds and the Buying Fund result in any material difference between the way the Funds have been managed and the way the combined Fund will be managed. A “fundamental” investment policy is one that may not be changed without a shareholder vote.
The Funds’ fundamental investment policies are set forth below:
Policy | Columbia Large Cap (Selling Fund) | Columbia Large Cap (Selling Fund) | Columbia Large Cap (Selling Fund) | Columbia Large Cap (Selling Fund) | Columbia Large Cap (Buying Fund) | |||||
Borrowing/ Issuing Senior Securities | The Fund may not borrow money except to the extent permitted by the 1940 Act, the rules and regulations thereunder and any exemptive relief obtained by the Fund.
The Fund may not issue senior securities except to the extent permitted by the 1940 Act, the rules and regulations thereunder and any exemptive relief obtained by the Fund. | The Fund will not borrow money, except for temporary purposes (not for leveraging or investment) in an amount not exceeding 331/3% of its total assets (including the amount borrowed) less liabilities (other than borrowings) immediately after the borrowings.
The Fund will not issue senior securities, except as permitted under the 1940 Act, the rules and regulations thereunder and any applicable exemptive relief. | The Fund may not borrow money except to the extent permitted by the 1940 Act, the rules and regulations thereunder and any applicable exemptive relief.
The Fund may not issue senior securities, except as permitted under the 1940 Act, the rules and regulations thereunder and any applicable exemptive relief. |
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Policy | Columbia Large Cap (Selling Fund) | Columbia Large Cap (Selling Fund) | Columbia Large Cap (Selling Fund) | Columbia Large Cap (Selling Fund) | Columbia Large Cap (Buying Fund) | |||||
Commodities | The Fund may not purchase or sell commodities, except that the Fund may, to the extent consistent with its investment objective, invest in securities of companies that purchase or sell commodities or which invest in such programs, and purchase and sell options, forward contracts, futures contracts, and options on futures contracts. This limitation does not apply to foreign currency transactions, including, without limitation, forward currency contracts. | The Fund will not buy or sell physical commodities unless acquired as a result of ownership of securities or other instruments, except this shall not prevent the Fund from buying or selling options, futures contracts and foreign currency (and, in the case of Columbia Large Cap Growth Fund IV, swaps) or from entering into forward currency contracts or from investing in securities or other instruments backed by, or whose value is derived from, physical commodities. | The Fund may not purchase or sell commodities, except that each Fund may to the extent consistent with its investment objective: (i) invest in securities of companies that purchase or sell commodities or which invest in such programs, (ii) purchase and sell options, forward contracts, futures contracts, and options on futures contracts and (iii) enter into swap contracts and other financial transactions relating to commodities.(a) This limitation does not apply to foreign currency transactions including without limitation forward currency contracts.
| |||||||
Diversification | The Fund may not purchase securities (except securities issued or guaranteed by the U.S. Government, its agencies or instrumentalities) of any one issuer if, as a result, more than 5% of its total assets will be invested in the securities of such issuer or it would own more than 10% of the voting securities of such issuer, except that: (i) up to 25% of its total assets may be invested without regard to these limitations; and (ii) a Fund’s assets may be invested in the securities of one or | No stated policy. | The Fund may not purchase securities (except securities issued or guaranteed by the U.S. Government, its agencies or instrumentalities) of any one issuer if, as a result, more than 5% of its total assets will be invested in the securities of such issuer or it would own more than 10% of the voting securities of such issuer, except that: (i) up to 25% of its total assets may be invested without regard to these limitations; and (ii) a Fund’s assets may be invested in the | The Fund will not purchase securities (except securities issued or guaranteed by the U.S. Government, its agencies or instrumentalities) of any one issuer if, as a result, more than 5% of its total assets will be invested in the securities of such issuer or it would own more than 10% of the voting securities of such issuer, except that: (a) up to 25% of its total assets may be invested without regard to these limitations; and (b) a Fund’s assets may be invested in the securities of one or | The Fund may not purchase securities (except securities issued or guaranteed by the U.S. Government, its agencies or instrumentalities) of any one issuer if, as a result, more than 5% of its total assets will be invested in the securities of such issuer or it would own more than 10% of the voting securities of such issuer, except that: (i) up to 25% of its total assets may be invested without regard to these limitations and (ii) a Fund’s assets may be invested in the |
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Policy | Columbia Large Cap (Selling Fund) | Columbia Large Cap (Selling Fund) | Columbia Large Cap (Selling Fund) | Columbia Large Cap (Selling Fund) | Columbia Large Cap (Buying Fund) | |||||
more management investment companies to the extent permitted by the 1940 Act, the rules and regulations thereunder, and any exemptive relief obtained by the Fund. | securities of one or more management investment companies to the extent permitted by the 1940 Act, the rules and regulations thereunder, and any exemptive relief obtained by the Fund. | more management investment companies to the extent permitted by the 1940 Act, the rules and regulations thereunder, or any applicable exemptive relief. | securities of one or more management investment companies to the extent permitted by the 1940 Act, the rules and regulations thereunder, or any applicable exemptive relief. |
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Policy | Columbia Large Cap (Selling Fund) | Columbia Large Cap (Selling Fund) | Columbia Large Cap (Selling Fund) | Columbia Large Cap (Selling Fund) | Columbia Large Cap (Buying Fund) | |||||
Industry Concentration | The Fund may not purchase any securities which would cause 25% or more of the value of its total assets at the time of purchase to be invested in the securities of one or more issuers conducting their principal business activities in the same industry, provided that: a) there is no limitation with respect to obligations issued or guaranteed by the U.S. Government, any state or territory of the United States, or any of their agencies, instrumentalities or political subdivisions; and b) notwithstanding this limitation or any other fundamental investment limitation, assets may be invested in the securities of one or more management investment companies to the extent permitted by the 1940 Act, the rules and regulations thereunder and any exemptive relief obtained by the Fund. | The Fund will not concentrate in any one industry (other than U.S. Government securities, provided that this limitation shall exclude securities issued or guaranteed by the U.S. Government or any of its agencies or instrumentalities). According to the present interpretation by the SEC, this means that up to 25% of the Fund’s total assets, based on current market value at time of purchase, can be invested in any one industry. | The Fund may not purchase any securities which would cause 25% or more of the value of its total assets at the time of purchase to be invested in the securities of one or more issuers conducting their principal business activities in the same industry, provided that: (i) there is no limitation with respect to obligations issued or guaranteed by the U.S. Government, any state or territory of the United States or any of their agencies, instrumentalities or political subdivisions(a); and (ii) notwithstanding this limitation or any other fundamental investment limitation, assets may be invested in the securities of one or more management investment companies or subsidiaries to the extent permitted by the 1940 Act, the rules and regulations thereunder and any applicable exemptive relief. |
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Policy | Columbia Large Cap (Selling Fund) | Columbia Large Cap (Selling Fund) | Columbia Large Cap (Selling Fund) | Columbia Large Cap (Selling Fund) | Columbia Large Cap (Buying Fund) | |||||
Lending | The Fund may not make loans, except to the extent permitted by the 1940 Act, the rules and regulations thereunder and any exemptive relief obtained by the Fund. | The Fund will not lend securities or participate in an interfund lending program if the total of all such loans would exceed 331/3% of the Fund’s total assets except this fundamental investment policy shall not prohibit the Fund from purchasing money market securities, loans, loan participation or other debt securities, or from entering into repurchase agreements. | The Fund may not make loans, except to the extent permitted by the 1940 Act, the rules and regulations thereunder and any applicable exemptive relief. | |||||||
Real Estate | The Fund may not purchase or sell real estate, except the Fund may purchase securities of issuers which deal or invest in real estate and may purchase securities which are secured by real estate or interests in real estate. | The Fund will not buy or sell real estate, unless acquired as a result of ownership of securities or other instruments, except this shall not prevent the Fund from investing in securities or other instruments backed by real estate or securities of companies engaged in the real estate business, real estate investment trusts (REITs) or entities similar to REITs formed under the laws of non-U.S. companies. For purposes of this policy, real estate includes real estate limited partnerships. | The Fund may not purchase or sell real estate, except each Fund may: (i) purchase securities of issuers which deal or invest in real estate, (ii) purchase securities which are secured by real estate or interests in real estate and (iii) hold and dispose of real estate or interests in real estate acquired through the exercise of its rights as a holder of securities which are secured by real estate or interests therein. |
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Policy | Columbia Large Cap (Selling Fund) | Columbia Large Cap (Selling Fund) | Columbia Large Cap (Selling Fund) | Columbia Large Cap (Selling Fund) | Columbia Large Cap (Buying Fund) | |||||
Underwriting | The Fund may not underwrite any issue of securities within the meaning of the 1933 Act except when it might technically be deemed to be an underwriter either: (i) in connection with the disposition of a portfolio security; or (ii) in connection with the purchase of securities directly from the issuer thereof in accordance with its investment objective. This restriction shall not limit the Fund’s ability to invest in securities issued by other registered management investment companies. | The Fund will not act as an underwriter (sell securities for others). However, under the securities laws, the Fund may be deemed to be an underwriter when it purchases securities directly from the issuer and later resells them. | The Fund may not underwrite any issue of securities issued by other persons within the meaning of the 1933 Act except when it might be deemed to be an underwriter either: (i) in connection with the disposition of a portfolio security; or (ii) in connection with the purchase of securities directly from the issuer thereof in accordance with the Fund’s investment objective. This restriction shall not limit the Fund’s ability to invest in securities issued by other registered investment companies. |
Comparison of Additional Non-Fundamental Investment Policies
If the Reorganizations occur, the combined Fund will be subject to the non-fundamental investment policies (policies that may be changed without a shareholder vote) of the Buying Fund. Columbia Threadneedle does not believe that the differences between the non-fundamental investment policies of the Funds result in any material differences between the way the Funds have been managed and the way the combined Fund will be managed.
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Policy | Columbia Large Cap (Selling Fund) | Columbia Large (Selling Fund) | Columbia Large Cap Growth Fund V (Selling Fund) | Columbia Large (Selling Fund) | Columbia Large (Buying Fund) | |||||
Diversification | The Fund’s diversification policy is fundamental. (See above.) | The Fund may not purchase securities of any one issuer (other than U.S. Government Obligations and securities of other investment companies) if, immediately after such purchase, more than 25% of the value of the Funds total assets would be invested in the securities of one issuer, and with respect to 50% of the Fund’s total assets, more than 5% of its assets would be invested in the securities of one issuer. | The Fund’s diversification policy is fundamental. (See above.) | |||||||
Illiquid Securities | No more than 15% of the net assets of the Fund will be held in securities and other instruments that are illiquid. “Illiquid Securities” are defined in accordance with the SEC staff’s current guidance and interpretations which provide that an illiquid security is a security which may not be sold or disposed of in the ordinary course of business within seven days at approximately the value at which the Fund has valued the security.
| |||||||||
Securities of Other Investment Companies | The Fund may not purchase securities of other investment companies except to the extent permitted by the 1940 Act, the rules and regulations thereunder and any applicable exemptive relief. | |||||||||
Short Selling | The Fund may not sell securities short, except as permitted by the 1940 Act, the rules and regulations thereunder and any applicable exemptive relief. | The Fund is not prohibited from engaging in short sales, however, the Fund will seek Board approval prior to utilizing short sales as an active part of its investment strategy. | The Fund may not sell securities short, except as permitted by the 1940 Act, the rules and regulations thereunder and any applicable exemptive relief. |
Differences between the Selling Fund’s principal investment strategies, fundamental and non-fundamental investment policies and holdings and those of the Buying Fund may expose the Selling Fund’s shareholders to new or increased risks. A comparison of the principal risks of investing in the Selling Fund and the Buying Fund is provided under “Comparison of Principal Risks” below.
The principal risks associated with investments in the Buying Fund and the Selling Funds are similar because the Funds have similar investment objectives, principal investment strategies and investment policies. The actual risks of investing in each Fund depend on the securities held in each Fund’s portfolio and on market conditions, both of which change over time. The Buying Fund and each Selling Fund are subject to the principal risks described below.
• | Active Management Risk – Due to its active management, the Fund could underperform its benchmark index and/or other funds with similar investment objectives. |
• | Convertible Securities Risk – Convertible securities are subject to the usual risks associated with debt instruments, such as interest rate risk and credit risk. Convertible securities also react to changes in the value of the common stock into which they convert, and are thus subject to market risk. The Fund may also be forced to convert a convertible security at an inopportune time, which may decrease the Fund’s return. |
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• | Depositary Receipts Risks – Depositary receipts are receipts issued by a bank or trust company reflecting ownership of underlying securities issued by foreign companies. Some foreign securities are traded in the form of American Depositary Receipts (ADRs). Depositary receipts involve risks similar to the risks associated with investments in foreign securities, including those associated with the particular country, which may be related to the particular political, regulatory, economic, social and other conditions or events occurring in the country and fluctuations in its currency, as well as market risk tied to the underlying foreign company. In addition, ADR holders may have limited voting rights, may not have the same rights afforded typical company stockholders in the event of a corporate action such as an acquisition, merger or rights offering and may experience difficulty in receiving company stockholder communications. |
• | Foreign Securities Risk – Investments in or exposure to foreign securities involve certain risks not associated with investments in or exposure to securities of U.S. companies. Foreign securities subject the Fund to the risks associated with investing in the particular country of an issuer, including the political, regulatory, economic, social, diplomatic and other conditions or events occurring in the country or region, as well as risks associated with less developed custody and settlement practices. Foreign securities may be more volatile and less liquid than securities of U.S. companies, and are subject to the risks associated with potential imposition of economic and other sanctions against a particular foreign country, its nationals or industries or businesses within the country. In addition, foreign governments may impose withholding or other taxes on the Fund’s income, capital gains or proceeds from the disposition of foreign securities, which could reduce the Fund’s return on such securities. The performance of the Fund may also be negatively impacted by fluctuations in a foreign currency’s strength or weakness relative to the U.S. dollar, particularly to the extent the Fund invests a significant percentage of its assets in foreign securities or other assets denominated in currencies other than the U.S. dollar. |
• | Growth Securities Risk – Growth securities typically trade at a higher multiple of earnings than other types of equity securities. Accordingly, the market values of growth securities may never reach their expected market value and may decline in price. In addition, growth securities, at times, may not perform as well as value securities or the stock market in general, and may be out of favor with investors for varying periods of time. |
• | Issuer Risk – An issuer in which the Fund invests or to which it has exposure may perform poorly, and the value of its securities may therefore decline, which would negatively affect the Fund’s performance. Poor performance may be caused by poor management decisions, competitive pressures, breakthroughs in technology, reliance on suppliers, labor problems or shortages, corporate restructurings, fraudulent disclosures, natural disasters or other events, conditions or factors. |
• | Market Risk – Market risk refers to the possibility that the market values of securities or other investments that the Fund holds will fall, sometimes rapidly or unpredictably, or fail to rise. An investment in the Fund could lose money over short or long periods. Although equity securities generally tend to have greater price volatility than debt securities, under certain market conditions, debt instruments may have comparable or greater price volatility. |
• | Sector Risk – At times, the Fund may have a significant portion of its assets invested in securities of companies conducting business in a related group of industries within an economic sector, including the consumer discretionary sector, health care sector, and information technology and technology-related sectors. Companies in the same economic sector may be similarly affected by economic, regulatory, political or market events or conditions, which may make the Fund more vulnerable to unfavorable developments in that economic sector than funds that invest more broadly. Generally, the more broadly the Fund invests, the more it spreads risk and potentially reduces the risks of loss and volatility. |
The Fund may be more susceptible to the particular risks that may affect companies in the consumer discretionary sector than if it were invested in a wider variety of companies in unrelated sectors. Companies in the consumer discretionary sector are subject to certain risks, including fluctuations in the performance of the overall domestic and international economy, interest rate changes, increased competition and consumer confidence. Performance of such companies may be affected by factors including reduced disposable household income, reduced consumer spending, changing demographics and consumer tastes.
The Fund may be more susceptible to the particular risks that may affect companies in the health care sector than if it were invested in a wider variety of companies in unrelated sectors. Companies in the health care sector are subject to certain risks, including restrictions on government reimbursement for medical expenses, government approval of medical products and services, competitive pricing pressures, and the rising cost of medical products and services (especially for companies dependent upon a relatively limited number of products or services). Performance of such companies may be affected by factors including, government regulation, obtaining and protecting patents (or the failure to do so), product liability and other similar litigation as well as product obsolescence.
The Fund may be more susceptible to the particular risks that may affect companies in the information technology sector, as well as other technology-related sectors (collectively, the technology sectors) than if it were invested in a wider variety of companies in unrelated sectors. Companies in the technology sectors are subject to certain risks, including the risk that new services, equipment or technologies will not be accepted by consumers and businesses or will become rapidly obsolete. Performance of such companies may be affected by factors including obtaining and protecting patents (or the failure to do so)
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and significant competitive pressures, including aggressive pricing of their products or services, new market entrants, competition for market share and short product cycles due to an accelerated rate of technological developments. Such competitive pressures may lead to limited earnings and/or falling profit margins. As a result, the value of their securities may fall or fail to rise. In addition, many technology sector companies have limited operating histories and prices of these companies’ securities historically have been more volatile than other securities, especially over the short term.
• | Non-Diversified Fund Risk – Columbia Large Cap Growth Fund III is non-diversified, which generally means that it may invest a greater percentage of its total assets in the securities of fewer issuers than a “diversified” fund. This increases the risk that a change in the value of any one investment held by the Fund could affect the overall value of the Fund more than it would affect that of a diversified fund holding a greater number of investments. Accordingly, the Fund’s value will likely be more volatile than the value of a more diversified fund. |
The following bar charts and tables provide some illustration of the risks of investing in the Funds by showing, respectively:
• | how each Fund’s performance has varied for each full calendar year shown in the bar chart; and |
• | how each Fund’s average annual total returns compare to certain measures of market performance shown in the table. |
Both the bar charts and the tables assume that all distributions have been reinvested. The performance of different classes varies because of differences in sales charges and other fees and expenses. How a Fund has performed in the past (before and after taxes) does not indicate how the Fund will perform in the future. The performance shown reflects any fee waiver or expense reimbursement arrangements in effect for the periods reported. In the absence of such fee waiver or expense reimbursement arrangements, the performance shown would have been lower.
Bar Charts. Class A share information is shown in the bar charts; the sales charge for Class A shares is not reflected in the bar charts.
Tables. The tables below show total returns (after applicable sales charges as shown in the Shareholder Fees section of this combined proxy statement/prospectus) from hypothetical investments in the indicated classes of shares of each Fund. The returns shown are compared to broad measures of market performance shown for the same periods.
The inception date of Columbia Large Cap Growth Fund II’s Class A shares is April 10, 2000, the inception date of Columbia Large Cap Growth Fund IV’s Class A shares is September 28, 2010 and the inception date of each of Columbia Large Cap Growth Fund III and Columbia Large Cap Growth Fund V’s Class A shares is December 31, 1997. The returns shown for one or more of the remaining share classes in the table below begin before the indicated inception date for such share class. The returns shown for each such share class include the returns of the Fund’s Class A shares (without applicable sales charges and adjusted to reflect the higher class-related operating expenses of such classes, where applicable) for periods prior to its inception date. Except for differences in annual returns resulting from differences in expenses and sales charges (where applicable), the share classes of the Fund would have substantially similar annual returns because all share classes of the Fund invest in the same portfolio of securities.
The inception date of the Buying Fund’s Class A shares is November 1, 1998. The returns shown for one or more of the remaining share classes in the table below begin before the indicated inception date for such share class. The returns shown for each such share class include the returns of the Fund’s Class Z shares (adjusted to reflect the higher class-related operating expenses of such classes, where applicable) for periods prior to its inception date. Except for differences in annual returns resulting from differences in expenses and sales charges (where applicable), the share classes of the Fund would have substantially similar annual returns because all share classes of the Fund invest in the same portfolio of securities.
After-Tax Returns
The after-tax returns shown in the Average Annual Total Returns table below are calculated using the highest historical individual U.S. federal marginal income tax rates and do not reflect the impact of state, local or foreign taxes. Your actual after-tax returns will depend on your personal tax situation and may differ from those shown in the table. In addition, the after-tax returns shown in the table do not apply to shares held in tax-advantaged accounts such as 401(k) plans or Individual Retirement Accounts (IRAs). The after-tax returns are shown only for Class A shares and will vary for other share classes. For certain funds, returns after taxes on distributions and sale of Fund shares are higher than before-tax returns for certain periods shown because they reflect the tax benefit of capital losses realized on the redemption of Fund shares.
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Columbia Large Cap Growth Fund II (Selling Fund)
CLASS A SHARE PERFORMANCE
(based on calendar years)
During the periods shown in the bar chart, the highest return for a calendar quarter was +19.84% (quarter ended June 30, 2009) and the lowest return for a calendar quarter was -25.12% (quarter ended December 31, 2008).
These returns do not reflect deductions of sales charges, if any, paid by investors and would be lower if they did. The performance of other share classes may vary from that shown because of differences in expenses.
Effective November 20, 2015, the Fund compares its performance to that of the Russell 1000 Growth Index (the New Index). Prior to this date, the Fund compared its performance to that of the Russell 3000 Index (the Former Index). Columbia Threadneedle believes that the New Index provides a more appropriate basis for comparing the Fund’s performance in light of the changes made to the Fund’s name and principal investment strategies effective November 20, 2015. The Fund’s performance shown below reflects returns achieved by a subadviser responsible for the Fund’s day-to-day management prior to November 20, 2015 following a different investment strategy.
The Fund’s Class A shares year-to-date return at September 30, 2015 was -5.35%.
Columbia Large Cap Growth Fund III (Selling Fund)
CLASS A SHARE PERFORMANCE
(based on calendar years)
During the periods shown in the bar chart, the highest return for a calendar quarter was +16.15% (quarter ended March 31, 2012) and the lowest return for a calendar quarter was -21.11% (quarter ended December 31, 2008).
These returns do not reflect deductions of sales charges, if any, paid by investors and would be lower if they did. The performance of other share classes may vary from that shown because of differences in expenses.
Effective November 20, 2015, the Fund compares its performance to that of the Russell 1000 Growth Index (the New Index). Prior to this date, the Fund compared its performance to that of the S&P 500 Index (the Former Index). Columbia Threadneedle believes that the New Index provides a more appropriate basis for comparing the Fund’s performance in light of the changes made to the Fund’s name and principal investment strategies effective November 20, 2015. The Fund’s performance shown below reflects returns achieved by a subadviser responsible for the Fund’s day-to-day management prior to November 20, 2015 following a different investment strategy.
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The Fund’s Class A shares year-to-date return at September 30, 2015 was -5.28%.
Columbia Large Cap Growth Fund IV (Selling Fund)
CLASS A SHARE PERFORMANCE
(based on calendar years)
During the periods shown in the bar chart, the highest return for a calendar quarter was +16.39% (quarter ended March 31, 2012) and the lowest return for a calendar quarter was -14.03% (quarter ended September 30, 2011).
These returns do not reflect deductions of sales charges, if any, paid by investors and would be lower if they did. The performance of other share classes may vary from that shown because of differences in expenses.
Effective November 20, 2015, the Fund compares its performance to that of the Russell 1000 Growth Index (the New Index). Prior to this date, the Fund compared its performance to that of the S&P 500 Index (the Former Index). Columbia Threadneedle believes that the New Index provides a more appropriate basis for comparing the Fund’s performance in light of the changes made to the Fund’s name and principal investment strategies effective November 20, 2015. The Fund’s performance shown below reflects returns achieved by a subadviser responsible for the Fund’s day-to-day management prior to November 20, 2015 following a different investment strategy.
The Fund’s Class A year-to-date return at September 30, 2015 was -4.66%.
Columbia Large Cap Growth Fund V (Selling Fund)
CLASS A SHARE PERFORMANCE
(based on calendar years)
During the periods shown in the bar chart, the highest return for a calendar quarter was +15.92% (quarter ended September 31, 2009) and the lowest return for a calendar quarter was -22.85% (quarter ended December 31, 2008).
These returns do not reflect deductions of sales charges, if any, paid by investors and would be lower if they did. The performance of other share classes may vary from that shown because of differences in expenses.
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Effective November 20, 2015, the Fund compares its performance to that of the Russell 1000 Growth Index (the New Index). Prior to this date, the Fund compared its performance to that of the S&P 500 Index (the Former Index). Columbia Threadneedle believes that the New Index provides a more appropriate basis for comparing the Fund’s performance in light of the changes made to the Fund’s name and principal investment strategies effective November 20, 2015. The Fund’s performance shown below reflects returns achieved by a subadviser responsible for the Fund’s day-to-day management prior to November 20, 2015 following a different investment strategy.
The Fund’s Class A year-to-date return at September 30, 2015 was -5.31%.
Columbia Large Cap Growth Fund (Buying Fund)
CLASS A SHARE PERFORMANCE
(based on calendar years)
During the periods shown in the bar chart, the highest return for a calendar quarter was +17.22% (quarter ended March 31, 2012) and the lowest return for a calendar quarter was -23.67% (quarter ended December 31, 2008).
These returns do not reflect deductions of sales charges, if any, paid by investors and would be lower if they did. The performance of other share classes may vary from that shown because of differences in expenses.
The Fund’s Class A shares year-to-date return at September 30, 2015 was -0.27%.
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Average Annual Total Returns After Applicable Sales Charges (for periods ended December 31, 2014)
Columbia Large Cap Growth Fund II (Selling Fund): | Share Class Inception Date | 1 year | 5 years | 10 years | ||||||||||||
Class A | ||||||||||||||||
Return before taxes | 04/10/2000 | 2.54 | % | 10.78 | % | 6.09 | % | |||||||||
Return after taxes on distributions | 2.54 | % | 10.78 | % | 5.98 | % | ||||||||||
Return after taxes on distributions and sale of Fund shares | 1.44 | % | 8.58 | % | 4.89 | % | ||||||||||
Class B | ||||||||||||||||
Return before taxes | 04/10/2000 | 2.88 | % | 10.99 | % | 5.92 | % | |||||||||
Class C | ||||||||||||||||
Return before taxes | 04/10/2000 | 6.95 | % | 11.25 | % | 5.92 | % | |||||||||
Class R | ||||||||||||||||
Return before taxes | 01/23/2006 | 8.48 | % | 11.81 | % | 6.45 | % | |||||||||
Class R4 | ||||||||||||||||
Return before taxes | 11/08/2012 | 9.01 | % | 12.23 | % | 6.78 | % | |||||||||
Class R5 | ||||||||||||||||
Return before taxes | 01/08/2014 | 9.17 | % | 12.19 | % | 6.76 | % | |||||||||
Class Z | ||||||||||||||||
Return before taxes | 04/10/2000 | 9.01 | % | 12.37 | % | 6.98 | % | |||||||||
Russell 1000 Growth Index (reflects no deductions for fees, expenses or taxes) | 13.05 | % | 15.81 | % | 8.49 | % | ||||||||||
Russell 3000 Index (reflects no deductions for fees, expenses or taxes) | 12.56 | % | 15.63 | % | 7.94 | % |
Average Annual Total Returns After Applicable Sales Charges (for periods ended December 31, 2014)
Columbia Large Cap Growth Fund III (Selling Fund): | Share Class Inception Date | 1 year | 5 years | 10 years | ||||||||||||
Class A | ||||||||||||||||
Return before taxes | 12/31/1997 | 5.25 | % | 13.32 | % | 7.01 | % | |||||||||
Return after taxes on distributions | 1.40 | % | 10.22 | % | 5.52 | % | ||||||||||
Return after taxes on distributions and sale of Fund shares | 5.52 | % | 10.38 | % | 5.54 | % | ||||||||||
Class B | ||||||||||||||||
Return before taxes | 12/31/1997 | 6.14 | % | 13.60 | % | 6.85 | % | |||||||||
Class C | ||||||||||||||||
Return before taxes | 12/31/1997 | 9.92 | % | 13.81 | % | 6.84 | % | |||||||||
Class I | ||||||||||||||||
Return before taxes | 09/27/2010 | 12.31 | % | 15.21 | % | 7.90 | % | |||||||||
Class R4 | 11/08/2012 | 11.95 | % | 14.80 | % | 7.71 | % | |||||||||
Return before taxes | ||||||||||||||||
Class R5 | 12/11/2013 | 12.14 | % | 14.78 | % | 7.70 | % | |||||||||
Return before taxes | ||||||||||||||||
Class Z | ||||||||||||||||
Return before taxes | 12/31/1997 | 11.93 | % | 14.97 | % | 7.92 | % | |||||||||
Russell 1000 Growth Index (reflects no deductions for fees, expenses or taxes) | 13.05 | % | 15.81 | % | 8.49 | % | ||||||||||
S&P 500 Index (reflects no deductions for fees, expenses or taxes) | 13.69 | % | 15.45 | % | 7.67 | % |
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Average Annual Total Returns After Applicable Sales Charges (for periods ended December 31, 2014)
Columbia Large Cap Growth Fund IV (Selling Fund): | Share Class Inception Date | 1 year | Life of Fund | |||||||||
Class A | ||||||||||||
Return before taxes | 09/28/2010 | -0.04 | % | 14.98 | % | |||||||
Return after taxes on distributions | -2.58 | % | 12.88 | % | ||||||||
Return after taxes on distributions and sale of Fund shares | 1.79 | % | 11.41 | % | ||||||||
Class C | ||||||||||||
Return before taxes | 09/28/2010 | 4.33 | % | 15.70 | % | |||||||
Class I | ||||||||||||
Return before taxes | 09/28/2010 | 6.37 | % | 16.92 | % | |||||||
Class R | ||||||||||||
Return before taxes | 09/28/2010 | 5.80 | % | 16.25 | % | |||||||
Class R4 | ||||||||||||
Return before taxes | 06/25/2014 | 6.22 | % | 16.63 | % | |||||||
Class R5 | ||||||||||||
Return before taxes | 11/08/2012 | 6.45 | % | 16.81 | % | |||||||
Class Z | ||||||||||||
Return before taxes | 09/28/2010 | 6.32 | % | 16.89 | % | |||||||
Russell 1000 Growth Index (reflects no deductions for fees, expenses or taxes) | 13.05 | % | 17.51 | % | ||||||||
S&P 500 Index (reflects no deductions for fees, expenses, or taxes) | 13.69 | % | 17.18 | % |
Average Annual Total Returns After Applicable Sales Charges (for periods ended December 31, 2014)
Columbia Large Cap Growth Fund V (Selling Fund): | Share Class Inception Date | 1 year | �� | 5 years | 10 years | |||||||||||
Class A | ||||||||||||||||
Return before taxes | 12/31/1997 | 2.78 | % | 12.91 | % | 5.88 | % | |||||||||
Return after taxes on distributions | -0.16 | % | 11.04 | % | 4.99 | % | ||||||||||
Return after taxes on distributions and sale of Fund shares | 3.98 | % | 10.04 | % | 4.58 | % | ||||||||||
Class B | ||||||||||||||||
Return before taxes | 12/31/1997 | 3.53 | % | 13.16 | % | 5.71 | % | |||||||||
Class C | ||||||||||||||||
Return before taxes | 12/31/1997 | 7.29 | % | 13.41 | % | 5.71 | % | |||||||||
Class I | ||||||||||||||||
Return before taxes | 09/27/2010 | 9.51 | % | 14.71 | % | 6.72 | % |
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Columbia Large Cap Growth Fund V (Selling Fund): | Share Class Inception Date | 1 year | 5 years | 10 years | ||||||||||||
Class R | ||||||||||||||||
Return before taxes | 01/23/2006 | 8.79 | % | 13.97 | % | 6.22 | % | |||||||||
Class R4 | ||||||||||||||||
Return before taxes | 11/08/2012 | 9.30 | % | 14.37 | % | 6.56 | % | |||||||||
Class R5 | ||||||||||||||||
Return before taxes | 11/08/2012 | 9.50 | % | 14.44 | % | 6.59 | % | |||||||||
Class W | ||||||||||||||||
Return before taxes | 09/27/2010 | 9.08 | % | 14.27 | % | 6.51 | % | |||||||||
Class Z | ||||||||||||||||
Return before taxes | 12/31/1997 | 9.29 | % | 14.54 | % | 6.77 | % | |||||||||
Russell 1000 Growth Index (reflects no deductions for fees, expenses or taxes) | 13.05 | % | 15.81 | % | 8.49 | % | ||||||||||
S&P 500 Index (reflects no deductions for fees, expenses, or taxes) | 13.69 | % | 15.45 | % | 7.67 | % |
Average Annual Total Returns After Applicable Sales Charges (for periods ended December 31, 2014)
Columbia Large Cap Growth Fund (Buying Fund): | Share Class Inception Date | 1 year | 5 years | 10 years | ||||||||||||
Class A | ||||||||||||||||
Return before taxes | 11/01/1998 | 7.35 | % | 13.79 | % | 7.26 | % | |||||||||
Return after taxes on distributions | 4.58 | % | 12.91 | % | 6.66 | % | ||||||||||
Return after taxes on distributions and sale of Fund shares | 6.42 | % | 11.05 | % | 5.86 | % | ||||||||||
Class B | ||||||||||||||||
Return before taxes | 11/01/1998 | 8.05 | % | 14.04 | % | 7.09 | % | |||||||||
Class C | ||||||||||||||||
Return before taxes | 11/18/2002 | 12.06 | % | 14.28 | % | 7.08 | % | |||||||||
Class E | ||||||||||||||||
Return before taxes | 09/22/2006 | 8.65 | % | 13.97 | % | 7.29 | % | |||||||||
Class F | ||||||||||||||||
Return before taxes | 09/22/2006 | 8.09 | % | 14.04 | % | 7.09 | % | |||||||||
Class I | ||||||||||||||||
Return before taxes | 09/27/2010 | 14.39 | % | 15.62 | % | 8.26 | % | |||||||||
Class K | ||||||||||||||||
Return before taxes | 03/07/2011 | 14.04 | % | 15.31 | % | 8.05 | % | |||||||||
Class R | ||||||||||||||||
Return before taxes | 09/27/2010 | 13.61 | % | 14.85 | % | 7.59 | % | |||||||||
Class R4 | ||||||||||||||||
Return before taxes | 11/08/2012 | 14.24 | % | 15.44 | % | 8.17 | % | |||||||||
Class R5 | ||||||||||||||||
Return before taxes | 03/07/2011 | 14.31 | % | 15.57 | % | 8.23 | % |
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Columbia Large Cap Growth Fund (Buying Fund): | Share Class Inception Date | 1 year | 5 years | 10 years | ||||||||||||
Class T | ||||||||||||||||
Return before taxes | 12/14/1990 | 7.29 | % | 13.73 | % | 7.21 | % | |||||||||
Class W | ||||||||||||||||
Return before taxes | 09/27/2010 | 13.97 | % | 15.18 | % | 7.94 | % | |||||||||
Class Y | ||||||||||||||||
Return before taxes | 07/15/2009 | 14.43 | % | 15.65 | % | 8.28 | % | |||||||||
Class Z | ||||||||||||||||
Return before taxes | 12/14/1990 | 14.20 | % | 15.43 | % | 8.16 | % | |||||||||
Russell 1000 Growth Index (reflects no deductions for fees, expenses or taxes) | 13.05 | % | 15.81 | % | 8.49 | % |
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Proposal 3. Comparison of Objectives, Strategies and Risks. Reorganization of Columbia Multi-Advisor Small Cap Value Fund into Columbia Select Smaller-Cap Value Fund
Comparison of the Selling Fund and the Buying Fund
Both the Selling Fund and the Buying Fund:
• | Have Columbia Threadneedle as investment manager. The Selling Fund’s portfolio is managed by four subadvisers, each of which acts independently of the others and uses its own methodology for selecting investments. The four subadvisers of the Selling Fund are Barrow, Hanley, Mewhinney & Strauss, LLC, Donald Smith & Co., Inc., Metropolitan West Capital Management, LLC, and Segall Bryant & Hamill, LLC. The Buying Fund does not have a subadviser. |
• | Have the same investment objective and similar principal investment strategies. |
• | Have the same policies for buying and selling shares and the same exchange rights. Please see Exhibit B for a description of these policies for the Buying Fund. |
• | Are structured as series of an open-end management investment company. Each Fund is organized as a series of a Massachusetts business trust. |
Comparison of Investment Objectives
The investment objectives of the Funds are as follows:
Selling Fund: Columbia Multi-Advisor Small Cap Value Fund seeks to provide shareholders with long-term capital appreciation.
Buying Fund: Columbia Select Smaller-Cap Value Fund seeks to provide shareholders with long-term capital appreciation.
Each Fund seeks the same investment objective.
Because any investment involves risk, there can be no assurance that a Fund’s investment objective will be achieved. The investment objective of each Fund may be changed only with shareholder approval.
Comparison of Principal Investment Strategies
The Funds have similar principal investment strategies. Each Fund normally invests at least 80% of its assets in small capitalization companies. The Buying Fund normally invests at least 80% of its net assets in equity securities of small capitalization issuers that have market capitalizations in the range of companies in the Russell 2000 Value Index (the Index) at the time of purchase (between $44 million and $4.6 billion as of October 31, 2015). The Selling Fund normally invests at least 80% of its net assets in small cap companies that have a market capitalization, at the time of investment, of up to $2.5 billion or that fall within the range of the Index. As of December 1, 2015, the Buying Fund and the Selling Fund had invested 77.85% and 83.14% of their net assets, respectively, in equity securities of companies with market capitalization within the range of the Index.
Each Fund may also invest up to 25% of its net assets in foreign investments. As of December 1, 2015, the Buying Fund and the Selling Fund had invested 3.39% and 13.48% of their net assets, respectively, in foreign investments. Each Fund may invest in any type of securities, including common stocks and depositary receipts, and may buy and hold stock in a company that is not included in the Index. The Buying Fund may hold a small number of securities and anticipates holding between 40 and 50 securities in its portfolio; however, the Buying Fund may hold, at any time, more or fewer securities than noted in this range. The Selling Fund has no similar principal investment strategy. Currently, the Selling Fund holds more than 200 securities. The Buying Fund is managed directly by Columbia Threadneedle. Multiple subadvisers provide the day-to-day management of portions of the Selling Fund’s portfolio, and are subject to oversight by Columbia Threadneedle. The Selling Fund has no subadviser(s) and is managed directly by Columbia Threadneedle.
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Additional information regarding the principal investment strategies of each Fund is set forth below:
Columbia Multi-Advisor Small Cap Value Fund (Selling Fund) | Columbia Select Smaller-Cap Value Fund (Buying Fund) | |
Under normal market conditions, at least 80% of the Fund’s net assets (including the amount of any borrowings for investment purposes) are invested in small cap companies. For these purposes, small cap companies are those that have a market capitalization, at the time of investment, of up to $2.5 billion or that fall within the range of the Russell 2000 Value Index (the Index). The Fund may buy and hold stock in a company that is not included in the Index. The market capitalization range of the companies included within the Index was $44 million to $4.6 billion as of October 31, 2015. | Under normal circumstances, the Fund invests at least 80% of its net assets (including the amount of any borrowings for investment purposes) in equity securities of smaller capitalization issuers. These companies have market capitalizations in the range of companies in the Russell 2000 Value Index (the Index) at the time of purchase (between $44 million and $4.6 billion as of October 31, 2015). The market capitalization range and composition of the companies in the Index are subject to change. The Fund’s Board of Trustees may change the parameters by which smaller market capitalization is defined if it concludes such a change is appropriate. | |
The Fund may invest in any type of securities, including common stocks and depositary receipts.
| No similar principal investment strategy. | |
The Fund may from time to time emphasize one or more economic sectors in selecting its investments. | The Fund may from time to time emphasize one or more economic sectors in selecting its investments, including the consumer discretionary sector. | |
The Fund may invest up to 25% of its net assets in foreign investments. | The Fund invests substantially in securities of U.S. issuers. The Fund may invest up to 25% of its net assets in foreign investments.
| |
Subject to oversight by the investment manager, multiple subadvisers provide the day-to-day management of a portion of the Fund’s portfolio. Each of the subadvisers employs an active investment strategy that focuses on small cap companies in an attempt to take advantage of what are believed to be undervalued securities. | The Fund also invests substantially in “value” companies. The Fund considers “value” companies to be those companies believed by the investment manager to be undervalued, either historically, by the market, or as compared with issuers in the same or similar industry or sector. | |
No similar principal investment strategy. | The Fund may hold a small number of securities, consistent with its value investment approach. Generally, the Fund anticipates holding between 40 and 50 securities in its portfolio; however, the Fund may hold, at any time, more or fewer securities than noted in this range.
| |
No similar principal investment strategy. | The Fund’s investment strategy may involve the frequent trading of portfolio securities. |
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Buying Fund Investment Style
A description of the investment style of the Buying Fund is set forth below.
In pursuit of the Buying Fund’s objective, the portfolio managers use a bottom-up stock selection approach, which means that they concentrate on individual company fundamentals, rather than on a particular industry, although at times factors that make a particular company attractive may also make other companies within the same industry attractive, and the portfolio managers may invest in these issuers as well.
Columbia Threadneedle considers a variety of factors in identifying investment opportunities and constructing the Fund’s portfolio. Such factors may include, among others, the following:
• | a low price-to-earnings and/or low price-to-book ratio; |
• | positive change in senior management; |
• | positive corporate restructuring; |
• | temporary setback in price due to factors that no longer exist or are ending; |
• | a positive shift in the company’s business cycle; and/or |
• | a catalyst for increase in the rate of the company’s earnings growth. |
Columbia Threadneedle generally sells a stock if it believes the stock has become fully valued, its fundamentals have deteriorated, or ongoing evaluation reveals that there are more attractive investment opportunities available. Columbia Threadneedle monitors the Fund’s holdings, remaining sensitive to overvaluation and deteriorating fundamentals.
Comparison of Fundamental Investment Policies
If the Reorganization occurs, the combined Fund will be subject to the fundamental investment policies of the Buying Fund. Columbia Threadneedle does not believe that the differences between the fundamental investment policies of the Selling Fund and the Buying Fund result in any material difference between the way the Funds have been managed and the way the combined Fund will be managed. A “fundamental” investment policy is one that may not be changed without a shareholder vote.
The Funds’ fundamental investment policies are set forth below:
Policy | Columbia Multi-Advisor Small Cap Value Fund (Selling Fund) | Columbia Select Smaller-Cap Value Fund (Buying Fund) | ||
Borrowing/ Issuing Senior Securities | The Fund will not borrow money, except for temporary purposes (not for leveraging or investment) in an amount not exceeding 331/3% of its total assets (including the amount borrowed) less liabilities (other than borrowings) immediately after the borrowings. | The Fund will not issue senior securities or borrow money, except as permitted by the 1940 Act or any rule thereunder, any SEC or SEC staff interpretations thereof or any exemptions therefrom which may be granted by the SEC. | ||
The Fund will not issue senior securities, except as permitted under the 1940 Act, the rules and regulations thereunder and any applicable exemptive relief. |
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Policy | Columbia Multi-Advisor Small Cap Value Fund (Selling Fund) | Columbia Select Smaller-Cap Value Fund (Buying Fund) | ||
Commodities | The Fund will not buy or sell physical commodities unless acquired as a result of ownership of securities or other instruments, except this shall not prevent the Fund from buying or selling options, futures contracts and foreign currency or from investing in securities or other instruments backed by, or whose value is derived from, physical commodities.
| The Fund will not purchase or sell commodities or commodity contracts, except to the extent permissible under applicable law and interpretations, as they may be amended from time to time. | ||
Diversification | No stated policy. | The Fund will not make any investment inconsistent with its classification as a diversified company under the 1940 Act. | ||
Industry Concentration | The Fund will not concentrate in any one industry. According to the present interpretation by the SEC, this means that up to 25% of the Fund’s total assets, based on current market value at time of purchase, can be invested in any one industry. | The Fund will not invest 25% or more of its total assets, at market value, in the securities of issuers in any particular industry, provided that this limitation shall exclude securities issued or guaranteed by the U.S. Government or any of its agencies or instrumentalities. |
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Policy | Columbia Multi-Advisor Small Cap Value Fund (Selling Fund) | Columbia Select Smaller-Cap Value Fund (Buying Fund) | ||
Lending | The Fund will not lend securities or participate in an interfund lending program if the total of all such loans would exceed 331/3% of the Fund’s total assets except this fundamental investment policy shall not prohibit the Fund from purchasing money market securities, loans, loan participation or other debt securities, or from entering into repurchase agreements. | The Fund will not make loans, except as permitted by the 1940 Act or any rule thereunder, any SEC or SEC staff interpretations thereof or any exemptions therefrom which may be granted by the SEC. | ||
Real Estate | The Fund will not buy or sell real estate, unless acquired as a result of ownership of securities or other instruments, except this shall not prevent the Fund from investing in securities or other instruments backed by real estate or securities of companies engaged in the real estate business or real estate investment trusts. For purposes of this policy, real estate includes real estate limited partnerships.
| The Fund will not purchase or hold any real estate, except that a Fund may invest in securities secured by real estate or interests therein or issued by persons (other than real estate investment trusts) which deal in real estate or interests therein. | ||
Underwriting | The Fund will not act as an underwriter (sell securities for others). However, under the securities laws, the Fund may be deemed to be an underwriter when it purchases securities directly from the issuer and later resells them. | The Fund will not underwrite the securities of other issuers, except insofar as the Fund may be deemed an underwriter under the 1933 Act in disposing of a portfolio security or in connection with investments in other investment companies. |
Comparison of Additional Non-Fundamental Investment Policies
There are no material differences between the non-fundamental investment policies of the Funds and therefore the management of the combined Fund in accordance with the non-fundamental investment policies of the Buying Fund following the Reorganization will not result in any material differences between the way the Funds have been managed and the way the combined Fund will be managed.
Differences between the Selling Fund’s principal investment strategies and fundamental investment policies and holdings and those of the Buying Fund may expose the Selling Fund’s shareholders to new or increased risks. A comparison of the principal risks of investing in the Selling Fund and the Buying Fund is provided under “Comparison of Principal Risks” below.
Although the Funds describe them somewhat differently, the principal risks associated with investments in the Buying Fund and the Selling Fund are generally similar because the Funds have the same investment objectives and similar principal investment strategies and investment policies. The actual risks of investing in each Fund depend on the securities held in each Fund’s portfolio and on market conditions, both of which change over time. The Buying Fund is subject to the principal risks described below. The Selling Fund is also subject to certain of the principal risks identified below and, in addition, is subject to depositary receipts risk – the risk of investing in depositary receipts, which are receipts issued by a bank or trust company reflecting ownership of underlying securities issued by foreign companies – and multi-adviser risk – the risk of using multiple advisory firms to each manage a portion of the Selling Fund’s net assets on a daily basis. The Buying Fund is not subject to multi-adviser risk. The Buying Fund is not subject to depositary receipts risk as a principal risk, but may be subject to such risk to the extent it invests in depositary receipts.
• | Active Management Risk – Due to its active management, the Buying Fund could underperform its benchmark index and/or other funds with similar investment objectives. The Selling Fund is also subject to this principal risk. |
• | Focused Portfolio Risk – Because the Buying Fund may invest in a limited number of companies, the Buying Fund as a whole is subject to greater risk of loss if any of those securities decline in price. The Selling Fund is not subject to focused portfolio risk as a principal risk, but may be subject to such risk to the extent it invests in a limited number of companies. |
• | Foreign Securities Risk – Investments in or exposure to foreign securities involve certain risks not associated with investments in or exposure to securities of U.S. companies. Foreign securities subject the Buying Fund to the risks associated with investing in the particular country of an issuer, including the political, regulatory, economic, social, diplomatic and other conditions or events occurring in the country or region, as well as risks associated with less developed custody and settlement practices. Foreign securities may be more volatile and less liquid than securities of U.S. companies, and are subject to the risks associated with potential imposition of economic and other sanctions against a particular foreign country, its nationals or industries or businesses within the country. In addition, foreign governments may impose withholding or other taxes on the Buying Fund’s income, capital gains or proceeds from the disposition of foreign securities, which could reduce the Buying Fund’s return on such securities. The performance of the Buying Fund may also be negatively impacted by fluctuations in a foreign currency’s strength or weakness relative to the U.S. dollar, particularly to the extent the Buying Fund invests a significant percentage of its assets in foreign securities or other assets denominated in currencies other than the U.S. dollar. The Selling Fund is also subject to this principal risk. |
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• | Frequent Trading Risk – The portfolio managers may actively and frequently trade investments in the Buying Fund’s portfolio to carry out its investment strategies. Frequent trading of investments increases the possibility that the Buying Fund, as relevant, will realize taxable capital gains (including short-term capital gains, which are generally taxable to shareholders at higher rates than long-term capital gains for U.S. federal income tax purposes), which could reduce the Buying Fund’s after-tax return. Frequent trading can also mean higher brokerage and other transaction costs, which could reduce the Buying Fund’s return. The trading costs and tax effects associated with portfolio turnover may adversely affect the Buying Fund’s performance. The Selling Fund is not subject to frequent trading risk as a principal risk, but may be subject to such risk to the extent its portfolio managers actively and frequently trade investments in the Selling Fund’s portfolio. |
• | Issuer Risk – An issuer in which the Buying Fund invests or to which it has exposure may perform poorly, and the value of its securities may therefore decline, which would negatively affect the Buying Fund’s performance. Poor performance may be caused by poor management decisions, competitive pressures, breakthroughs in technology, reliance on suppliers, labor problems or shortages, corporate restructurings, fraudulent disclosures, natural disasters or other events, conditions or factors. The Selling Fund is also subject to this principal risk. |
• | Market Risk – Market risk refers to the possibility that the market values of securities or other investments that the Buying Fund holds will fall, sometimes rapidly or unpredictably, or fail to rise. An investment in the Buying Fund could lose money over short or long periods. Although equity securities generally tend to have greater price volatility than debt securities, under certain market conditions, debt securities may have comparable or greater price volatility. The Selling Fund is also subject to this principal risk. |
• | Sector Risk – At times, the Buying Fund may have a significant portion of its assets invested in securities of companies conducting business in a related group of industries within an economic sector, including the consumer discretionary sector. Companies in the same economic sector may be similarly affected by economic, regulatory, political or market events or conditions, which may make the Buying Fund more vulnerable to unfavorable developments in that economic sector than funds that invest more broadly. Generally, the more broadly the Buying Fund invests, the more it spreads risk and potentially reduces the risks of loss and volatility. |
The Buying Fund may be more susceptible to the particular risks that may affect companies in the consumer discretionary sector than if it were invested in a wider variety of companies in unrelated sectors. Companies in the consumer discretionary sector are subject to certain risks, including fluctuations in the performance of the overall domestic and international economy, interest rate changes, increased competition and consumer confidence. Performance of such companies may be affected by factors including reduced disposable household income, reduced consumer spending, changing demographics and consumer tastes. The Selling Fund is also subject to sector risk, although it is more susceptible to the particular risks that may affect companies in the financial services and industrials sectors.
• | Small Company Securities Risk – Investments in small-capitalization companies (small-cap companies) often involve greater risks than investments in larger, more established companies (larger companies) because small-cap companies tend to have less predictable earnings and may lack the management experience, financial resources, product diversification and competitive strengths of larger companies, and securities of small-cap companies may be less liquid and more volatile than the securities of larger companies. The Selling Fund is also subject to this principal risk. |
• | Value Securities Risk – Value securities are securities of companies that may have experienced, for example, adverse business, industry or other developments or may be subject to special risks that have caused the securities to be out of favor and, in turn, potentially undervalued. The market value of a portfolio security may not meet the portfolio manager’s perceived value assessment of that security, or may decline in price, even though the portfolio manager(s) believe(s) the securities are already undervalued. There is also a risk that it may take longer than expected for the value of these investments to rise to the portfolio manager’s perceived value. In addition, value securities, at times, may not perform as well as growth securities or the stock market in general, and may be out of favor with investors for varying periods of time. The Selling Fund is also subject to this principal risk. |
The following bar charts and tables provide some illustration of the risks of investing in the Funds by showing, respectively:
• | how each Fund’s performance has varied for each full calendar year shown in the bar chart; and |
• | how each Fund’s average annual total returns compare to certain measures of market performance shown in the table. |
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Both the bar charts and the tables assume that all distributions have been reinvested. The performance of different classes varies because of differences in sales charges and other fees and expenses. How a Fund has performed in the past does not indicate how the Fund will perform in the future. The performance shown reflects any fee waiver or expense reimbursement arrangements in effect for the periods reported. In the absence of such fee waivers or expense reimbursement arrangements, the performance shown would have been lower.
Bar Charts. Class A share information is shown in the bar charts; the sales charge for Class A shares is not reflected in the bar charts.
Tables. The tables below show total returns (after applicable sales charges as shown in the Shareholder Fees section of this combined proxy statement/prospectus) from hypothetical investments in the indicated classes of shares of each Fund. These returns are compared to broad measures of market performance shown for the same periods.
The inception date of the Selling Fund’s Class A shares is June 18, 2001. The returns shown for one or more of the remaining share classes in the table below begin before the indicated inception date for such share class. The returns shown for each such share class include the returns of the Fund’s Class A shares (without applicable sales charges and adjusted to reflect the higher class-related operating expenses of such classes, where applicable) for periods prior to its inception date. [Class Y shares of the Selling Fund did not commence operations prior to the periods ended shown in the table below and, therefore, performance is not yet available.] Except for differences in annual returns resulting from differences in expenses and sales charges (where applicable), the share classes of the Fund would have substantially similar annual returns because all share classes of the Fund invest in the same portfolio of securities.
The inception date of the Buying Fund’s Class A shares is April 25, 1997. The returns shown for one or more of the remaining share classes in the table below begin before the indicated inception date for such share class. The returns shown for each such share class include the returns of the Fund’s Class A shares (without applicable sales charges and adjusted to reflect the higher class-related operating expenses of such classes, where applicable) for periods prior to its inception date. Except for differences in annual returns resulting from differences in expenses and sales charges (where applicable), the share classes of the Fund would have substantially similar annual returns because all share classes of the Fund invest in the same portfolio of securities.
After-Tax Returns
The after-tax returns shown in the Average Annual Total Returns table below are calculated using the highest historical individual U.S. federal marginal income tax rates and do not reflect the impact of state, local or foreign taxes. Your actual after-tax returns will depend on your personal tax situation and may differ from those shown in the table. In addition, the after-tax returns shown in the table do not apply to shares held in tax-advantaged accounts such as 401(k) plans or Individual Retirement Accounts (IRAs). The after-tax returns are shown only for Class A shares and will vary for other share classes. Returns after taxes on distributions and sale of Fund shares are higher than before-tax returns for certain periods shown because they reflect the tax benefit of capital losses realized on the redemption of Fund shares.
Columbia Multi-Advisor Small Cap Value Fund (Selling Fund)
CLASS A SHARE PERFORMANCE
(based on calendar years)
During the periods shown in the bar chart, the highest return for a calendar quarter was +26.55% (quarter ended September 30, 2009) and the lowest return for a calendar quarter was -25.30% (quarter ended December 31, 2008).
These returns do not reflect deductions of sales charges, if any, paid by investors and would be lower if they did. The performance of other share classes may vary from that shown because of differences in expenses.
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The Fund’s Class A shares year-to-date return at September 30, 2015 was -10.09%
Columbia Select Smaller-Cap Value Fund (Buying Fund)
CLASS A SHARE PERFORMANCE
(based on calendar years)
During the periods shown in the bar chart, the highest return for a calendar quarter was +29.74% (quarter ended June 30, 2009) and the lowest return for a calendar quarter was -24.90% (quarter ended September 30, 2011).
These returns do not reflect deductions of sales charges, if any, paid by investors and would be lower if they did. The performance of other share classes may vary from that shown because of differences in expenses.
The Fund’s Class A shares year-to-date return at September 30, 2015 was -7.24%
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Average Annual Total Returns After Applicable Sales Charges (for periods ended December 31, 2014)
Columbia Multi-Advisor Small Cap Value Fund (Selling Fund): | Share Class Inception Date | 1 year | 5 years | 10 years | ||||||||||||
Class A | ||||||||||||||||
Return before taxes | 06/18/2001 | -2.96 | % | 12.31 | % | 7.15 | % | |||||||||
Return after taxes on distributions | -5.87 | % | 11.04 | % | 5.51 | % | ||||||||||
Return after taxes on distributions and sale of Fund shares | 0.39 | % | 9.75 | % | 5.47 | % | ||||||||||
Class B | ||||||||||||||||
Return before taxes | 06/18/2001 | -2.24 | % | 12.52 | % | 7.04 | % | |||||||||
Class C | ||||||||||||||||
Return before taxes | 06/18/2001 | 1.46 | % | 12.81 | % | 7.05 | % | |||||||||
Class I | ||||||||||||||||
Return before taxes | 03/04/2004 | 3.49 | % | 14.15 | % | 8.25 | % | |||||||||
Class K | ||||||||||||||||
Return before taxes | 06/18/2001 | 3.19 | % | 13.85 | % | 8.00 | % | |||||||||
Class R | ||||||||||||||||
Return before taxes | 12/11/2006 | 2.78 | % | 13.36 | % | 7.48 | % | |||||||||
Class R4 | ||||||||||||||||
Return before taxes | 12/11/2006 | 3.30 | % | 13.74 | % | 7.84 | % | |||||||||
Class R5 | ||||||||||||||||
Return before taxes | 12/11/2006 | 3.38 | % | 14.12 | % | 8.13 | % | |||||||||
Class Z | ||||||||||||||||
Return before taxes | 09/27/2010 | 3.29 | % | 13.85 | % | 7.89 | % | |||||||||
Russell 2000 Value Index (reflects no deductions for fees, expenses or taxes) | 4.22 | % | 14.26 | % | 6.89 | % |
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Average Annual Total Returns After Applicable Sales Charges (for periods ended December 31, 2014)
Columbia Select Smaller-Cap Value Fund (Buying Fund): | Share Class Inception Date | 1 year | 5 years | 10 years | ||||||||||||
Class A | ||||||||||||||||
Return before taxes | 04/25/1997 | -0.66 | % | 14.31 | % | 6.95 | % | |||||||||
Return after taxes on distributions | -3.20 | % | 13.09 | % | 5.87 | % | ||||||||||
Return after taxes on distributions and sale of Fund shares | 1.56 | % | 11.47 | % | 5.56 | % | ||||||||||
Class B | ||||||||||||||||
Return before taxes | 04/25/1997 | -0.01 | % | 14.57 | % | 6.77 | % | |||||||||
Class C | ||||||||||||||||
Return before taxes | 05/27/1999 | 3.69 | % | 14.79 | % | 6.79 | % | |||||||||
Class I | ||||||||||||||||
Return before taxes | 08/03/2009 | 5.85 | % | 16.23 | % | 7.86 | % | |||||||||
Class K | ||||||||||||||||
Return before taxes | 08/03/2009 | 5.54 | % | 15.87 | % | 7.69 | % | |||||||||
Class R | ||||||||||||||||
Return before taxes | 04/30/2003 | 5.11 | % | 15.37 | % | 7.30 | % | |||||||||
Class R4 | ||||||||||||||||
Return before taxes | 11/08/2012 | 5.66 | % | 15.81 | % | 7.64 | % | |||||||||
Class R5 | ||||||||||||||||
Return before taxes | 11/30/2001 | 5.82 | % | 16.15 | % | 8.13 | % | |||||||||
Class Y | ||||||||||||||||
Return before taxes | 10/01/2014 | 5.38 | % | 15.67 | % | 7.58 | % | |||||||||
Class Z | ||||||||||||||||
Return before taxes | 09/27/2010 | 5.64 | % | 15.94 | % | 7.70 | % | |||||||||
Russell 2000 Value Index (reflects no deductions for fees, expenses or other taxes) | 4.22 | % | 14.26 | % | 6.89 | % |
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Proposal 4. Comparison of Objectives, Strategies and Risks. Reorganization of Columbia International Value Fund into Columbia Overseas Value Fund.
Comparison of the Selling Fund and the Buying Fund
Both the Selling Fund and the Buying Fund:
• | Have Columbia Threadneedle as investment manager. |
• | Have the same investment objective and the same principal investment strategies. |
• | Share the same portfolio management team. |
• | Have the same policies for buying and selling shares and the same exchange rights. Please see Exhibit B for a description of these policies for the Buying Fund. |
• | Are structured as series of an open-end management investment company. Each Fund is organized as a series of a Delaware statutory trust. |
Comparison of Investment Objectives
The investment objectives of the Funds are as follows:
Selling Fund: Columbia International Value Fund seeks long-term capital appreciation.
Buying Fund: Columbia Overseas Value Fund seeks long-term capital appreciation.
Each Fund seeks the same investment objective.
Because any investment involves risk, there can be no assurance that a Fund’s investment objective will be achieved. The investment objective of each Fund may be changed without shareholder approval.
Comparison of Principal Investment Strategies
The Funds have identical principal investment strategies. Each Fund normally invests at least 80% of its total assets in equity securities of foreign companies that have market capitalizations of more than $1 billion at the time of purchase. Each Fund typically invests in foreign companies in at least three countries, other than the United States, at any one time and may invest in emerging markets. Each Fund may invest directly in foreign securities or indirectly through closed-end investment companies and depositary receipts. As of December 1, 2015, the Buying Fund and the Selling Fund had invested 93.09% and 95.43% of their net assets, respectively, in foreign securities. Each Fund may from time to time emphasize one or more economic sectors in selecting its investments, including the financial services sector. Each Fund may also invest in currency forwards, futures and options. Each Fund has the following limits on its investments, which are applied at the time an investment is made. Each Fund normally invests no more than 5% of its total assets in a single security; typically invests up to the greater of (i) 20% of its total assets in a single country or industry or (ii) 150% of the weighting of a single country or industry in the MSCI Europe, Australasia, Far East (MSCI EAFE) Value Index (limited to less than 25% of its total assets in a single industry, other than U.S. Government obligations); and generally may not invest more than 20% of its total assets in emerging markets.
Buying Fund Investment Style
A description of the investment style of the Buying Fund is set forth below.
Columbia Threadneedle combines fundamental and quantitative analysis with risk management in identifying investment opportunities and constructing the Buying Fund’s portfolio. Columbia Threadneedle considers, among other factors:
• | businesses that are believed to be fundamentally sound and undervalued due to investor indifference, investor misperception of company prospects, or other factors; |
• | various measures of valuation, including price-to-cash flow, price-to-earnings, price-to-sales, and price-to-book value. Columbia Threadneedle believes that companies with lower valuations are generally more likely to provide opportunities for capital appreciation; |
• | a company’s current operating margins relative to its historic range and future potential; and |
• | potential indicators of stock price appreciation, such as anticipated earnings growth, company restructuring, changes in management, business model changes, new product opportunities or anticipated improvements in macroeconomic factors. |
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Columbia Threadneedle may sell a security when the security’s price reaches a target set by Columbia Threadneedle; if Columbia Threadneedle believes that there is deterioration in the issuer’s financial circumstances or fundamental prospects, or that other investments are more attractive; or for other reasons.
Comparison of Fundamental Investment Policies
If the Reorganization occurs, the combined Fund will be subject to the fundamental investment policies of the Buying Fund. Columbia Threadneedle does not believe that the differences between the fundamental investment policies of the Selling Fund and the Buying Fund result in any material differences between the way the Funds have been managed and the way the combined Fund will be managed. A “fundamental” investment policy is one that may not be changed without a shareholder vote.
The Funds’ fundamental investment policies are set forth below:
Policy | Columbia International Value Fund (Selling Fund) | Columbia Overseas Value Fund (Buying Fund) | ||
Borrowing/ Issuing Senior Securities | The Fund may not borrow money except to the extent permitted by the 1940 Act, the rules and regulations thereunder and any exemptive relief obtained by the Fund.
The Fund may not issue senior securities except to the extent permitted by the 1940 Act, the rules and regulations thereunder and any exemptive relief obtained by the Fund. | The Fund may not borrow money except to the extent permitted by the 1940 Act, the rules and regulations thereunder and any applicable exemptive relief.
The Fund may not issue senior securities except to the extent permitted by the 1940 Act, the rules and regulations thereunder and any applicable exemptive relief. | ||
Commodities | The Fund may not purchase or sell commodities, except that the Fund may, to the extent consistent with its investment objective, invest in securities of companies that purchase or sell commodities or which invest in such programs, and purchase and sell options, forward contracts, futures contracts, and options on futures contracts. This limitation does not apply to foreign currency transactions, including, without limitation, forward currency contracts. | The Fund may not purchase or sell commodities, except that the Fund may to the extent consistent with its investment objective: (i) invest in securities of companies that purchase or sell commodities or which invest in such programs, (ii) purchase and sell options, forward contracts, futures contracts, and options on futures contracts and (iii) enter into swap contracts and other financial transactions relating to commodities. This limitation does not apply to foreign currency transactions including without limitation forward currency contracts.
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Diversification | The Fund may not purchase securities (except securities issued or guaranteed by the U.S. Government, its agencies or instrumentalities) of any one issuer if, as a result, more than 5% of its total assets will be invested in the securities of such issuer or it would own more than 10% of the voting securities of such issuer, except that: (i) up to 25% of its total assets may be invested without regard to these limitations; and (ii) a Fund’s assets may be invested in the securities of one or more management investment companies to the extent permitted by the 1940 Act, the rules and regulations thereunder, and any exemptive relief obtained by the Fund. | The Fund may not purchase securities (except securities issued or guaranteed by the U.S. Government, its agencies or instrumentalities) of any one issuer if, as a result, more than 5% of its total assets will be invested in the securities of such issuer or it would own more than 10% of the voting securities of such issuer, except that: (a) up to 25% of its total assets may be invested without regard to these limitations; and (b) the Fund’s assets may be invested in the securities of one or more management investment companies to the extent permitted by the 1940 Act, the rules and regulations thereunder, or any applicable exemptive relief obtained by the Fund. |
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Policy | Columbia International Value Fund (Selling Fund) | Columbia Overseas Value Fund (Buying Fund) | ||
Industry Concentration | The Fund may not purchase any securities which would cause 25% or more of the value of its total assets at the time of purchase to be invested in the securities of one or more issuers conducting their principal business activities in the same industry, provided that: a) there is no limitation with respect to obligations issued or guaranteed by the U.S. Government, any state or territory of the United States, or any of their agencies, instrumentalities or political subdivisions; and b) notwithstanding this limitation or any other fundamental investment limitation, assets may be invested in the securities of one or more management investment companies to the extent permitted by the 1940 Act, the rules and regulations thereunder and any exemptive relief obtained by the Fund. | The Fund will not purchase any securities which would cause 25% or more of the value of its total assets at the time of purchase to be invested in the securities of one or more issuers conducting their principal business activities in the same industry, provided that: (i) there is no limitation with respect to obligations issued or guaranteed by the U.S. Government, any state or territory of the United States, or any of their agencies, instrumentalities or political subdivisions; and (ii) notwithstanding this limitation or any other fundamental investment limitation, assets may be invested in the securities of one or more management investment companies to the extent permitted by the 1940 Act, the rules and regulations thereunder and any applicable exemptive relief.
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Lending | The Fund may not make loans, except to the extent permitted by the 1940 Act, the rules and regulations thereunder and any exemptive relief obtained by the Fund. | The Fund may not make loans, except to the extent permitted by the 1940 Act, the rules and regulations thereunder and any applicable exemptive relief. | ||
Real Estate | The Fund may not purchase or sell real estate, except the Fund may purchase securities of issuers which deal or invest in real estate and may purchase securities which are secured by real estate or interests in real estate. | The Fund may not purchase or sell real estate, except the Fund may: (i) purchase securities of issuers which deal or invest in real estate, (ii) purchase securities which are secured by real estate or interests in real estate and (iii) hold and dispose of real estate or interests in real estate acquired through the exercise of its rights as a holder of securities which are secured by real estate or interests therein.
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Underwriting | The Fund may not underwrite any issue of securities within the meaning of the 1933 Act except when it might technically be deemed to be an underwriter either: (i) in connection with the disposition of a portfolio security; or (ii) in connection with the purchase of securities directly from the issuer thereof in accordance with its investment objective. This restriction shall not limit the Fund’s ability to invest in securities issued by other registered management investment companies. | The Fund may not underwrite any issue of securities issued by other persons within the meaning of the 1933 Act except when it might be deemed to be an underwriter either: (i) in connection with the disposition of a portfolio security; or (ii) in connection with the purchase of securities directly from the issuer thereof in accordance with its investment objective. This restriction shall not limit the Fund’s ability to invest in securities issued by other registered investment companies. |
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Comparison of Additional Non-Fundamental Investment Policies
There are no material differences between the non-fundamental investment policies of the Funds and therefore the management of the combined Fund in accordance with the non-fundamental investment policies of the Buying Fund following the Reorganization will not result in any material differences between the way the Funds have been managed and the way the combined Fund will be managed.
Differences between the Selling Fund’s fundamental investment policies and holdings and those of the Buying Fund may expose the Selling Fund’s shareholders to new or increased risks. A comparison of the principal risks of investing in the Selling Fund and the Buying Fund is provided under “Comparison of Principal Risks” below.
The principal risks associated with investments in the Buying Fund and the Selling Fund are identical because the Funds have the same investment objective and principal investment strategies and similar investment policies. The actual risks of investing in each Fund depend on the securities held in each Fund’s portfolio and on market conditions, both of which change over time. The Buying Fund and the Selling Fund are subject to each of the principal risks described below.
• | Active Management Risk – Due to its active management, the Fund could underperform its benchmark index and/or other funds with similar investment objectives. |
• | Depositary Receipts Risk – Depositary receipts are receipts issued by a bank or trust company reflecting ownership of underlying securities issued by foreign companies. Some foreign securities are traded in the form of American Depositary Receipts (ADRs). Depositary receipts involve risks similar to the risks associated with investments in foreign securities, including those associated with the particular country, which may be related to the particular political, regulatory, economic, social and other conditions or events occurring in the country and fluctuations in its currency, as well as market risk tied to the underlying foreign company. In addition, ADR holders may have limited voting rights, may not have the same rights afforded typical company stockholders in the event of a corporate action such as an acquisition, merger or rights offering and may experience difficulty in receiving company stockholder communications. |
• | Derivatives Risk – Losses involving derivative instruments may be substantial, because a relatively small movement in the price of an underlying security, instrument, commodity, currency or index may result in a substantial loss for the Fund. In addition to the potential for increased losses, the use of derivative instruments may lead to increased volatility for the Fund. Derivative investments will typically increase the Fund’s exposure to principal risks to which it is otherwise exposed, and may expose the Fund to additional risks, including correlation risk, counterparty risk, hedging risk, leverage risk and/or liquidity risk. |
• | Derivatives Risk/Forward Foreign Currency Contracts Risk – These instruments are a type of derivative contract whereby the Fund may agree to buy or sell a country’s or region’s currency at a specific price on a specific date in the future. These instruments may fall in value (sometimes dramatically) due to foreign market downswings or foreign currency value fluctuations, subjecting the Fund to foreign currency risk. Investment in these instruments also subjects the Fund to counterparty risk. The Fund’s strategy of investing in these instruments may not be successful and the Fund may experience significant losses as a result. |
• | Derivatives Risk/Futures Contracts Risk – The loss that may be incurred in entering into futures contracts may exceed the amount of the premium paid and may be potentially unlimited. Futures markets are highly volatile and the use of futures may increase the volatility of the Fund’s NAV. Additionally, as a result of the low collateral deposits normally involved in futures trading, a relatively small price movement in a futures contract may result in substantial losses for the Fund. Futures contracts may be illiquid. Furthermore, exchanges may limit fluctuations in futures contract prices during a trading session by imposing a maximum permissible price movement on each futures contract. The Fund may be disadvantaged if it is prohibited from executing a trade outside the daily permissible price movement. Futures contracts executed on foreign exchanges may not provide the same protection as U.S. exchanges. These transactions involve additional risks, including counterparty risk, hedging risk and pricing risk. |
• | Derivatives Risk/Options Risk – The use of options is a highly specialized activity which involves investment techniques and risks different from those associated with ordinary portfolio securities transactions. If the Fund sells a put option, there is a risk that the Fund may be required to buy the underlying asset at a disadvantageous price. If the Fund sells a call option, there is a risk that the Fund may be required to sell the underlying asset at a disadvantageous price, and if the call option sold is not covered (for example, by owning the underlying asset), the Fund’s losses are potentially unlimited. These transactions involve other risks, including counterparty risk and hedging risk. |
• | Emerging Market Securities Risk – Securities issued by foreign governments or companies in emerging market countries, such as China, Russia and certain countries in Eastern Europe, the Middle East, Asia, Latin America or Africa, are more likely to have greater exposure to the risks of investing in foreign securities that are described in Foreign Securities Risk. In addition, emerging market countries are more likely to experience instability resulting, for example, from rapid changes or developments |
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in social, political, economic or other conditions. Their economies are usually less mature and their securities markets are typically less developed with more limited trading activity (i.e., lower trading volumes and less liquidity) than more developed countries. Emerging market securities tend to be more volatile than securities in more developed markets. Many emerging market countries are heavily dependent on international trade and have fewer trading partners, which makes them more sensitive to world commodity prices and economic downturns in other countries, and some have a higher risk of currency devaluations. |
• | Foreign Securities Risk – Investments in or exposure to foreign securities involve certain risks not associated with investments in or exposure to securities of U.S. companies. Foreign securities subject the Fund to the risks associated with investing in the particular country of an issuer, including the political, regulatory, economic, social, diplomatic and other conditions or events occurring in the country or region, as well as risks associated with less developed custody and settlement practices. Foreign securities may be more volatile and less liquid than securities of U.S. companies, and are subject to the risks associated with potential imposition of economic and other sanctions against a particular foreign country, its nationals or industries or businesses within the country. In addition, foreign governments may impose withholding or other taxes on the Fund’s income, capital gains or proceeds from the disposition of foreign securities, which could reduce the Fund’s return on such securities. The performance of the Fund may also be negatively impacted by fluctuations in a foreign currency’s strength or weakness relative to the U.S. dollar, particularly to the extent the Fund invests a significant percentage of its assets in foreign securities or other assets denominated in currencies other than the U.S. dollar. |
• | Investing in Other Funds Risk – The Fund’s investment in other funds (affiliated and/or unaffiliated funds, including exchange-traded funds (ETFs)) subjects the Fund to the investment performance (positive or negative) and risks of the underlying funds in direct proportion to the Fund’s investment therein. In addition, investments in ETFs have unique characteristics, including, but not limited to, the expense structure and additional expenses associated with investing in ETFs. The performance of the underlying funds could be adversely affected if other investors in the same underlying funds make relatively large investments or redemptions in such underlying funds. The Fund, and its shareholders, indirectly bear a portion of the expenses of any funds in which the Fund invests. Because the expenses and costs of a fund are shared by its investors, redemptions by other investors in the underlying funds could result in decreased economies of scale and increased operating expenses for such fund. Columbia Threadneedle may have potential conflicts of interest in selecting affiliated underlying funds for investment by the Fund because the fees paid to it by some underlying funds are higher than the fees paid by other underlying funds, as well as a potential conflict in selecting affiliated funds over unaffiliated funds. |
• | Issuer Risk – An issuer in which the Fund invests or to which it has exposure may perform poorly, and the value of its securities may therefore decline, which would negatively affect the Fund’s performance. Poor performance may be caused by poor management decisions, competitive pressures, breakthroughs in technology, reliance on suppliers, labor problems or shortages, corporate restructurings, fraudulent disclosures, natural disasters or other events, conditions or factors. |
• | Market Risk – Market risk refers to the possibility that the market values of securities or other investments that the Fund holds will fall, sometimes rapidly or unpredictably, or fail to rise. An investment in the Fund could lose money over short or long periods. Although equity securities generally tend to have greater price volatility than debt securities, under certain market conditions, debt securities may have comparable or greater price volatility. |
• | Sector Risk – At times, the Fund may have a significant portion of its assets invested in securities of companies conducting business in a related group of industries within an economic sector, including the financial services sector. Companies in the same economic sector may be similarly affected by economic, regulatory, political or market events or conditions, which may make the Fund more vulnerable to unfavorable developments in that economic sector than funds that invest more broadly. Generally, the more broadly the Fund invests, the more it spreads risk and potentially reduces the risks of loss and volatility. |
The Fund may be more susceptible to the particular risks that may affect companies in the financial services sector than if it were invested in a wider variety of companies in unrelated sectors. Companies in the financial services sector are subject to certain risks, including the risk of regulatory change, decreased liquidity in credit markets and unstable interest rates. Such companies may have concentrated portfolios, such as a high level of loans to real estate developers, which makes them vulnerable to economic conditions that affect that industry. Performance of such companies may be affected by competitive pressures and exposure to investments or agreements that, under certain circumstances, may lead to losses (e.g., subprime loans). Companies in the financial services sector are subject to extensive governmental regulation that may limit the amount and types of loans and other financial commitments they can make, and interest rates and fees that they may charge. In addition, profitability of such companies is largely dependent upon the availability and the cost of capital.
• | Small- and Mid-Cap Company Securities Risk – Investments in small- and mid-capitalization companies (small- and mid-cap companies) often involve greater risks than investments in larger, more established companies (larger companies) because small- and mid-cap companies tend to have less predictable earnings and may lack the management experience, financial resources, product diversification and competitive strengths of larger companies. Securities of small- and mid-cap companies may be less liquid and more volatile than the securities of larger companies. |
• | Value Securities Risk – Value securities are securities of companies that may have experienced, for example, adverse business, industry or other developments or may be subject to special risks that have caused the securities to be out of favor and, in turn, potentially undervalued. The market value of a portfolio security may not meet the portfolio manager’s perceived value |
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assessment of that security, or may decline in price, even though the portfolio manager(s) believe(s) the securities are already undervalued. There is also a risk that it may take longer than expected for the value of these investments to rise to the portfolio manager’s perceived value. In addition, value securities, at times, may not perform as well as growth securities or the stock market in general, and may be out of favor with investors for varying periods of time. |
The following bar charts and tables provide some illustration of the risks of investing in the Funds by showing, respectively:
• | how each Fund’s performance has varied for each full calendar year shown in the bar chart; and |
• | how each Fund’s average annual total returns compare to certain measures of market performance shown in the table. |
Both the bar charts and the tables assume that all distributions have been reinvested. The performance of different classes varies because of differences in sales charges and other fees and expenses. How a Fund has performed in the past (before and after taxes) does not indicate how the Fund will perform in the future. The performance shown reflects any fee waiver or expense reimbursement arrangements in effect for the periods reported. In the absence of such fee waiver or expense reimbursement arrangements, the performance shown would have been lower.
Bar Charts. Class Z share information is shown in the bar charts.
Tables. The tables below show total returns (after applicable sales charges as shown in the Shareholder Fees section of this combined proxy statement/prospectus) from hypothetical investments in the indicated classes of shares of each Fund. The returns shown are compared to broad measures of market performance shown for the same periods.
The inception date of the Selling Fund’s Class Z shares is December 27, 1995. The returns shown for one or more of the remaining share classes in the table below begin before the indicated inception date for such share class. The returns shown for each such share class include the returns of the Fund’s Class A shares (without applicable sales charges and adjusted to reflect the higher class-related operating expenses of such classes, where applicable) for periods prior to its inception date. Except for differences in annual returns resulting from differences in expenses and sales charges (where applicable), the share classes of the Fund would have substantially similar annual returns because all share classes of the Fund invest in the same portfolio of securities.
The inception date of the Buying Fund’s Class Z shares is March 31, 2008. The returns shown for one or more of the remaining share classes in the table below begin before the indicated inception date for such share class. The returns shown for each such share class include the returns of the Fund’s Class Z shares (adjusted to reflect the higher class-related operating expenses of such classes, where applicable) for periods prior to its inception date. [Class R, Class R4, Class R5 and Class Y shares of the Buying Fund did not commence operations prior to the periods ended shown in the table below and, therefore, performance is not yet available.] Except for differences in annual returns resulting from differences in expenses and sales charges (where applicable), the share classes of the Fund would have substantially similar annual returns because all share classes of the Fund invest in the same portfolio of securities.
After-Tax Returns
The after-tax returns shown in the Average Annual Total Returns table below are calculated using the highest historical individual U.S. federal marginal income tax rates and do not reflect the impact of state, local or foreign taxes. Your actual after-tax returns will depend on your personal tax situation and may differ from those shown in the table. In addition, the after-tax returns shown in the table do not apply to shares held in tax-advantaged accounts such as 401(k) plans or Individual Retirement Accounts (IRAs). The after-tax returns are shown only for Class Z shares and will vary for other share classes. Returns after taxes on distributions and sale of Fund shares are higher than before-tax returns for certain periods shown because they reflect the tax benefit of capital losses realized on the redemption of Fund shares.
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Columbia International Value Fund (Selling Fund)
CLASS Z SHARE PERFORMANCE
(based on calendar years)
During the periods shown in the bar chart, the highest return for a calendar quarter was +22.82% (quarter ended June 30, 2009) and the lowest return for a calendar quarter was -17.47% (quarter ended September 30, 2011).
These returns do not reflect deductions of sales charges, if any, paid by investors and would be lower if they did. The performance of other share classes may vary from that shown because of differences in expenses.
The Fund’s Class Z shares year-to-date return at September 30, 2015 was -1.16%.
Columbia Overseas Value Fund (Buying Fund)
CLASS Z SHARE PERFORMANCE
(based on calendar years)
During the periods shown in the bar chart, the highest return for a calendar quarter was +32.29% (quarter ended June 30, 2009) and the lowest return for a calendar quarter was -18.87% (quarter ended September 30, 2011).
These returns do not reflect deductions of sales charges, if any, paid by investors and would be lower if they did. The performance of other share classes may vary from that shown because of differences in expenses.
The Fund’s Class Z shares year-to-date return at September 30, 2015 was -0.98%.
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Average Annual Total Returns After Applicable Sales Charges (for periods ended December 31, 2014)
Columbia International Value Fund (Selling Fund): | Share Class Inception Date | 1 year | 5 years | 10 years | ||||||||||||
Class Z | ||||||||||||||||
Return before taxes | 12/27/1995 | -6.88 | % | 3.60 | % | 3.68 | % | |||||||||
Return after taxes on distributions | -7.55 | % | 3.20 | % | 2.48 | % | ||||||||||
Return after taxes on distributions and sale of Fund shares | -2.83 | % | 3.30 | % | 3.59 | % | ||||||||||
Class A | ||||||||||||||||
Return before taxes | 12/27/1995 | -12.46 | % | 2.12 | % | 2.81 | % | |||||||||
Class B | ||||||||||||||||
Return before taxes | 05/22/1998 | -12.28 | % | 2.27 | % | 2.67 | % | |||||||||
Class C | ||||||||||||||||
Return before taxes | 06/15/1998 | -8.68 | % | 2.58 | % | 2.65 | % | |||||||||
Class I | ||||||||||||||||
Return before taxes | 09/27/2010 | -6.75 | % | 2.94 | % | 3.21 | % | |||||||||
Class R | ||||||||||||||||
Return before taxes | 09/27/2010 | -7.36 | % | 3.06 | % | 3.13 | % | |||||||||
Class R4 | ||||||||||||||||
Return before taxes | 11/08/2012 | -6.87 | % | 3.47 | % | 3.48 | % | |||||||||
Class R5 | ||||||||||||||||
Return before taxes | 11/08/2012 | -6.77 | % | 3.51 | % | 3.50 | % | |||||||||
MSCI EAFE Value Index (Net) (reflects reinvested dividends net of withholding taxes but reflects no deductions for fees, expenses or other taxes) | -5.39 | % | 4.42 | % | 3.89 | % |
Average Annual Total Returns After Applicable Sales Charges (for periods ended December 31, 2014)
Columbia Overseas Value Fund (Buying Fund): | Share Class Inception Date | 1 year | 5 years | 10 years | ||||||||||||
Class Z | ||||||||||||||||
Return before taxes | 03/31/2008 | -7.00 | % | 4.83 | % | 0.15 | % | |||||||||
Return after taxes on distributions | -7.50 | % | 4.57 | % | -0.24 | % | ||||||||||
Return after taxes on distributions and sale of Fund shares | -3.09 | % | 4.09 | % | 0.34 | % | ||||||||||
Class A | ||||||||||||||||
Return before taxes | 02/28/2013 | -12.54 | % | 3.15 | % | -1.19 | % | |||||||||
Class B | ||||||||||||||||
Return before taxes | 02/28/2013 | -12.37 | % | 3.25 | % | -1.07 | % | |||||||||
Class C | ||||||||||||||||
Return before taxes | 02/28/2013 | -8.77 | % | 3.60 | % | -1.07 | % | |||||||||
Class I | ||||||||||||||||
Return before taxes | 03/31/2011 | -6.78 | % | 4.94 | % | 0.22 | % | |||||||||
Class K | ||||||||||||||||
Return before taxes | 02/28/2013 | -6.95 | % | 4.41 | % | -0.31 | % | |||||||||
Class W | ||||||||||||||||
Return before taxes | 03/31/2011 | -7.13 | % | 4.65 | % | 0.00 | % | |||||||||
MSCI EAFE Value Index (Net) (reflects reinvested dividends net of withholding taxes but reflects no deductions for fees, expenses or other taxes) | -5.39 | % | 4.42 | % | 0.46 | % |
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Proposal 5. Comparison of Objectives, Strategies and Risks. Reorganization of Columbia International Opportunities Fund into Columbia Select International Equity Fund.
Comparison of the Selling Fund and the Buying Fund
The Selling Fund and the Buying Fund:
• | Have Columbia Threadneedle as investment manager. Threadneedle International Limited (“Threadneedle International”) has served as subadviser to the Buying Fund since April 2011. Threadneedle International is an affiliate of Columbia Threadneedle, and an indirect wholly-owned subsidiary of Ameriprise Financial, Inc., the parent company of Columbia Threadneedle. The Selling Fund does not have a subadviser. |
• | Have the same investment objective and similar principal investment strategies. |
• | Have the same policies for buying and selling shares and the same exchange rights. Please see Exhibit B for a description of these policies for the Buying Fund. |
• | Are structured as series of an open-end management investment company. Each Fund is organized as a series of a Delaware statutory trust. |
Comparison of Investment Objectives
The investment objectives of the Funds are as follows:
Selling Fund: Columbia International Opportunities Fund seeks long-term growth of capital.
Buying Fund: Columbia Select International Equity Fund seeks long-term capital growth.
Each Fund seeks the same investment objective.
Because any investment involves risk, there can be no assurance that a Fund’s investment objective will be achieved. The investment objective of each of the Funds may be changed without shareholder approval.
Comparison of Principal Investment Strategies
The Funds have similar principal investment strategies. The Buying Fund normally invests at least 80% of its net assets (including the amount of any borrowings for investment purposes) and the Selling Fund normally invests at least 65% of its total assets in equity securities (including common stock, preferred stock, and depositary receipts) of companies located in at least three countries other than the United States, including emerging market countries. As of December 3, 2015, the Buying Fund and the Selling Fund had invested 79.91% and 98.48% of their net assets, respectively, in equity securities of companies located in countries other than the United States. Each Fund invests in companies that are believed to have the potential for growth and each Fund typically employs a focused portfolio investing style. Each Fund may invest in equity securities of issuers of any market capitalization, as well as companies involved in initial public offerings, tender offers, mergers, other corporate restructurings and other special situations. From time to time, each Fund may focus its investments in certain countries or geographic areas, including the Asia/Pacific region and Europe, and may emphasize one or more economic sectors in selecting its investments, including the financial services sector. Each Fund may also invest in derivatives.
Columbia International Opportunities Fund (Selling Fund) | Columbia Select International Equity Fund (Buying Fund) | |
Under normal circumstances, the Fund invests at least 65% of its total assets in equity securities (including common stock, preferred stock, and depositary receipts) of companies located in at least three countries other than the United States, including emerging market countries. | Under normal circumstances, the Fund invests at least 80% of its net assets (including the amount of any borrowings for investment purposes) in equity securities (including common stock, preferred stock, and depositary receipts) of established companies located in at least three countries other than the United States, including emerging market countries. | |
The Fund invests in companies that are believed to have the potential for growth. The Fund typically employs a focused portfolio investing style, which results in fewer holdings than a fund that seeks to achieve its investment objective by investing in a greater number of issuers.
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The Fund may invest in companies involved in initial public offerings, tender offers, mergers, other corporate restructurings and other special situations. The Fund may invest in equity securities of issuers of any market capitalization. | ||
From time to time, the Fund may focus its investments in certain countries or geographic areas, including the Asia/Pacific region and Europe.
| ||
The Fund may from time to time emphasize one or more economic sectors in selecting its investments, including the financial services sector. | ||
The Fund may invest in derivatives, including futures contracts in an effort to enhance returns, to hedge existing positions, to manage the Fund’s overall risk exposure, to increase market or other exposure, and/or to increase investment flexibility (including using the derivative as a substitute for a position in an underlying security, asset, or other instrument or reference). Derivatives may be used by the Fund to obtain net long and/or net negative (short) exposure to a security, asset, or other instrument or reference.
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The Fund’s investment strategy may involve the frequent trading of portfolio securities. |
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Buying Fund Investment Style
A description of the investment style of the Buying Fund is set forth below.
Columbia Threadneedle is responsible for oversight of the Fund’s subadviser, Threadneedle International, which chooses investments for the Buying Fund by:
• | Deploying an integrated approach to equity research that incorporates regional analyses, an international sector strategy, and stock specific perspectives; |
• | Conducting detailed research on companies in a consistent, strategic and macroeconomic framework; |
• | Looking for catalysts of change and identifying the factors driving markets, which will vary over economic and market cycles; and |
• | Implementing rigorous risk control processes that seek to ensure that the risk and return characteristics of the Buying Fund’s portfolio are consistent with established portfolio management parameters. |
A number of factors may prompt the portfolio management team to sell securities. A sale may result from a change in the composition of the Buying Fund’s benchmark or a change in sector strategy. A sale may also be prompted by factors specific to a stock, such as valuation or company fundamentals.
Comparison of Fundamental Investment Policies
The Funds have the same fundamental investment policies and therefore the management of the combined Fund in accordance with the fundamental investment policies of the Buying Fund following the Reorganization will not result in any material differences between the way the Selling Fund has been managed and the way the combined Fund will be managed. A “fundamental” investment policy is one that may not be changed without a shareholder vote.
Comparison of Additional Non-Fundamental Investment Policies
There are no material differences between the non-fundamental investment policies of the Funds and therefore the management of the combined Fund in accordance with the non-fundamental investment policies of the Buying Fund following the Reorganization will not result in any material differences between the way the Funds have been managed and the way the combined Fund will be managed.
Differences between the Selling Fund’s principal investment strategies and holdings and those of the Buying Fund may expose the Selling Fund’s shareholders to new or increased risks. A comparison of the principal risks of investing in the Selling Fund and the Buying Fund is provided under “Comparison of Principal Risks” below.
The principal risks associated with investments in the Buying Fund and the Selling Fund are identical because the Funds have similar investment objectives, principal investment strategies and investment policies. The actual risks of investing in each Fund depend on the securities held in each Fund’s portfolio and on market conditions, both of which change over time. The Buying Fund and the Selling Fund are subject to each of the principal risks described below.
• | Active Management Risk – Due to its active management, the Fund could underperform its benchmark index and/or other funds with similar investment objectives. |
• | Depositary Receipts Risk – Depositary receipts are receipts issued by a bank or trust company reflecting ownership of underlying securities issued by foreign companies. Some foreign securities are traded in the form of American Depositary Receipts (ADRs). Depositary receipts involve risks similar to the risks associated with investments in foreign securities, including those associated with the particular country, which may be related to the particular political, regulatory, economic, social and other conditions or events occurring in the country and fluctuations in its currency, as well as market risk tied to the underlying foreign company. In addition, ADR holders may have limited voting rights, may not have the same rights afforded typical company stockholders in the event of a corporate action such as an acquisition, merger or rights offering and may experience difficulty in receiving company stockholder communications. |
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• | Derivatives Risk – Losses involving derivative instruments may be substantial, because a relatively small movement in the price of an underlying security, instrument, commodity, currency or index may result in a substantial loss for the Fund. In addition to the potential for increased losses, the use of derivative instruments may lead to increased volatility for the Fund. Derivative investments will typically increase the Fund’s exposure to principal risks to which it is otherwise exposed, and may expose the Fund to additional risks, including correlation risk, counterparty risk, hedging risk, leverage risk and/or liquidity risk. |
• | Derivatives Risk/Futures Contracts Risk – The loss that may be incurred in entering into futures contracts may exceed the amount of the premium paid and may be potentially unlimited. Futures markets are highly volatile and the use of futures may increase the volatility of the Fund’s NAV. Additionally, as a result of the low collateral deposits normally involved in futures trading, a relatively small price movement in a futures contract may result in substantial losses for the Fund. Futures contracts may be illiquid. Furthermore, exchanges may limit fluctuations in futures contract prices during a trading session by imposing a maximum permissible price movement on each futures contract. The Fund may be disadvantaged if it is prohibited from executing a trade outside the daily permissible price movement. Futures contracts executed on foreign exchanges may not provide the same protection as U.S. exchanges. These transactions involve additional risks, including counterparty risk, hedging risk and pricing risk. |
• | Emerging Market Securities Risk – Securities issued by foreign governments or companies in emerging market countries, such as China, Russia and certain countries in Eastern Europe, the Middle East, Asia, Latin America or Africa, are more likely to have greater exposure to the risks of investing in foreign securities that are described in Foreign Securities Risk. In addition, emerging market countries are more likely to experience instability resulting, for example, from rapid changes or developments in social, political, economic or other conditions. Their economies are usually less mature and their securities markets are typically less developed with more limited trading activity (i.e., lower trading volumes and less liquidity) than more developed countries. Emerging market securities tend to be more volatile than securities in more developed markets. Many emerging market countries are heavily dependent on international trade and have fewer trading partners, which makes them more sensitive to world commodity prices and economic downturns in other countries, and some have a higher risk of currency devaluations. |
• | Focused Portfolio Risk – Because the Fund may invest in a limited number of companies, the Fund as a whole is subject to greater risk of loss if any of those securities decline in price. |
• | Foreign Securities Risk – Investments in or exposure to foreign securities involve certain risks not associated with investments in or exposure to securities of U.S. companies. Foreign securities subject the Fund to the risks associated with investing in the particular country of an issuer, including the political, regulatory, economic, social, diplomatic and other conditions or events occurring in the country or region, as well as risks associated with less developed custody and settlement practices. Foreign securities may be more volatile and less liquid than securities of U.S. companies, and are subject to the risks associated with potential imposition of economic and other sanctions against a particular foreign country, its nationals or industries or businesses within the country. In addition, foreign governments may impose withholding or other taxes on the Fund’s income, capital gains or proceeds from the disposition of foreign securities, which could reduce the Fund’s return on such securities. The performance of the Fund may also be negatively impacted by fluctuations in a foreign currency’s strength or weakness relative to the U.S. dollar, particularly to the extent the Fund invests a significant percentage of its assets in foreign securities or other assets denominated in currencies other than the U.S. dollar. |
• | Frequent Trading Risk – The portfolio managers may actively and frequently trade investments in the Fund’s portfolio to carry out its investment strategies. Frequent trading of investments increases the possibility that the Fund, as relevant, will realize taxable capital gains (including short-term capital gains, which are generally taxable to shareholders at higher rates than long-term capital gains for U.S. federal income tax purposes), which could reduce the Fund’s after-tax return. Frequent trading can also mean higher brokerage and other transaction costs, which could reduce the Fund’s return. The trading costs and tax effects associated with portfolio turnover may adversely affect the Fund’s performance. |
• | Geographic Focus Risk – The Fund may be particularly susceptible to economic, political, regulatory or other events or conditions affecting issuers and countries within the specific geographic regions in which the Fund invests. The Fund’s NAV may be more volatile than the NAV of a more geographically diversified fund. |
Many of the countries in the Asia Pacific region are considered underdeveloped or developing, including from a political, economic and/or social perspective, and may have relatively unstable governments and economies based on limited business, industries and/or natural resources or commodities. Events in any one country within the region may impact other countries in the region or the region as a whole. As a result, events in the region will generally have a greater effect on the Fund than if the Fund were more geographically diversified. This could result in increased volatility in the value of the Fund’s investments and losses for the Fund. Also, securities of some companies in the region can be less liquid than U.S. or other foreign securities, potentially making it difficult for the Fund to sell such securities at a desirable time and price.
The Fund may be particularly susceptible to economic, political, regulatory or other events or conditions affecting issuers and countries in Europe. Currency devaluations could occur in countries that have not yet experienced currency devaluation to date, or could continue to occur in countries that have already experienced such devaluations. In addition, the private and public sectors’ debt problems of a single European Union (EU) country can pose significant economic risks to the EU as a whole. As a result, the Fund’s NAV may be more volatile than the NAV of a more geographically diversified fund. If securities of issuers in Europe fall out of favor, it may cause the Fund to underperform other funds that do not concentrate in this region of the world.
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• | Growth Securities Risk – Growth securities typically trade at a higher multiple of earnings than other types of equity securities. Accordingly, the market values of growth securities may never reach their expected market value and may decline in price. In addition, growth securities, at times, may not perform as well as value securities or the stock market in general, and may be out of favor with investors for varying periods of time. |
• | Issuer Risk – An issuer in which the Fund invests or to which it has exposure may perform poorly, and the value of its securities may therefore decline, which would negatively affect the Fund’s performance. Poor performance may be caused by poor management decisions, competitive pressures, breakthroughs in technology, reliance on suppliers, labor problems or shortages, corporate restructurings, fraudulent disclosures, natural disasters or other events, conditions or factors. |
• | Market Risk – Market risk refers to the possibility that the market values of securities or other investments that the Fund holds will fall, sometimes rapidly or unpredictably, or fail to rise. An investment in the Fund could lose money over short or long periods. Although equity securities generally tend to have greater price volatility than debt securities, under certain market conditions, debt securities may have comparable or greater price volatility. |
• | Preferred Stock Risk – Preferred stock is a type of stock that generally pays dividends at a specified rate and that has preference over common stock in the payment of dividends and the liquidation of assets. Preferred stock does not ordinarily carry voting rights. The price of a preferred stock is generally determined by earnings, type of products or services, projected growth rates, experience of management, liquidity, and general market conditions of the markets on which the stock trades. The most significant risks associated with investments in preferred stock include issuer risk, market risk and interest rate risk (i.e., the risk of losses attributable to changes in interest rates). |
• | Sector Risk – At times, the Fund may have a significant portion of its assets invested in securities of companies conducting business in a related group of industries within an economic sector, including the financial services sector. Companies in the same economic sector may be similarly affected by economic, regulatory, political or market events or conditions, which may make the Fund more vulnerable to unfavorable developments in that economic sector than funds that invest more broadly. Generally, the more broadly the Fund invests, the more it spreads risk and potentially reduces the risks of loss and volatility. |
The Fund may be more susceptible to the particular risks that may affect companies in the financial services sector than if it were invested in a wider variety of companies in unrelated sectors. Companies in the financial services sector are subject to certain risks, including the risk of regulatory change, decreased liquidity in credit markets and unstable interest rates. Such companies may have concentrated portfolios, such as a high level of loans to real estate developers, which makes them vulnerable to economic conditions that affect that industry. Performance of such companies may be affected by competitive pressures and exposure to investments or agreements that, under certain circumstances, may lead to losses (e.g., subprime loans). Companies in the financial services sector are subject to extensive governmental regulation that may limit the amount and types of loans and other financial commitments they can make, and interest rates and fees that they may charge. In addition, profitability of such companies is largely dependent upon the availability and the cost of capital.
• | Small- and Mid-Cap Company Securities Risk – Investments in small- and mid-capitalization companies (small- and mid-cap companies) often involve greater risks than investments in larger, more established companies (larger companies) because small- and mid-cap companies tend to have less predictable earnings and may lack the management experience, financial resources, product diversification and competitive strengths of larger companies. Securities of small- and mid-cap companies may be less liquid and more volatile than the securities of larger companies. |
• | Special Situations Risk – Securities of companies that are involved in an initial public offering or a major corporate event, such as a business consolidation or restructuring, may be exposed to heightened risk because of the high degree of uncertainty that can be associated with such events. Securities issued in initial public offerings often are issued by companies that are in the early stages of development, have a history of little or no revenues and may operate at a loss following the offering. It is possible that there will be no active trading market for the securities after the offering, and that the market price of the securities may be subject to significant and unpredictable fluctuations. Certain “special situation” investments are investments in securities or other instruments that are determined to be illiquid or lacking a readily ascertainable fair value. Certain special situation investments prevent ownership interests therein from being withdrawn until the special situation investment, or a portion thereof, is realized or deemed realized, which may negatively impact Fund performance. Investing in special situations may have a magnified effect on the performance of funds with small amounts of assets. |
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The following bar charts and tables provide some illustration of the risks of investing in the Funds by showing, respectively:
• | how each Fund’s performance has varied for each full calendar year shown in the bar chart; and |
• | how each Fund’s average annual total returns compare to certain measures of market performance shown in the table. |
Both the bar charts and the tables assume that all distributions have been reinvested. The performance of different classes varies because of differences in sales charges and other fees and expenses. How a Fund has performed in the past (before and after taxes) does not indicate how the Fund will perform in the future. The performance shown reflects any fee waiver or expense reimbursement arrangements in effect for the periods reported. In the absence of such fee waiver or expense reimbursement arrangements, the performance shown would have been lower.
Bar Charts. Class A share information is shown in the bar charts; the sales charge for Class A shares is not reflected in the bar charts.
Tables. The tables below show total returns (after applicable sales charges as shown in the Shareholder Fees section of this combined proxy statement/prospectus) from hypothetical investments in the indicated classes of shares of each Fund. The returns shown are compared to broad measures of market performance shown for the same periods.
The inception date of the Selling Fund’s Class A shares is August 1, 2000. The returns shown for one or more of the remaining share classes in the table below begin before the indicated inception date for such share class. The returns shown for each such share class include the returns of the Fund’s Class A shares (without applicable sales charges and adjusted to reflect the higher class-related operating expenses of such classes, where applicable) for periods prior to its inception date. Except for differences in annual returns resulting from differences in expenses and sales charges (where applicable), the share classes of the Fund would have substantially similar annual returns because all share classes of the Fund invest in the same portfolio of securities.
The inception date of the Buying Fund’s Class A shares is June 3, 1992. The returns shown for one or more of the remaining share classes in the table below begin before the indicated inception date for such share class. The returns shown for each such share class include the returns of the Fund’s Class A shares (without applicable sales charges and adjusted to reflect the higher class-related operating expenses of such classes, where applicable) for periods prior to its inception date. Except for differences in annual returns resulting from differences in expenses and sales charges (where applicable), the share classes of the Fund would have substantially similar annual returns because all share classes of the Fund invest in the same portfolio of securities.
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After-Tax Returns
The after-tax returns shown in the Average Annual Total Returns table below are calculated using the highest historical individual U.S. federal marginal income tax rates and do not reflect the impact of state, local or foreign taxes. Your actual after-tax returns will depend on your personal tax situation and may differ from those shown in the table. In addition, the after-tax returns shown in the table do not apply to shares held in tax-advantaged accounts such as 401(k) plans or Individual Retirement Accounts (IRAs). The after-tax returns are shown only for Class A shares and will vary for other share classes. Returns after taxes on distributions and sale of Fund shares are higher than before-tax returns for certain periods shown because they reflect the tax benefit of capital losses realized on the redemption of Fund shares.
Columbia International Opportunities Fund (Selling Fund)
CLASS A SHARE PERFORMANCE
(based on calendar years)
During the periods shown in the bar chart, the highest return for a calendar quarter was +26.57% (quarter ended June 30, 2009) and the lowest return for a calendar quarter was -27.68% (quarter ended December 31, 2008).
These returns do not reflect deductions of sales charges, if any, paid by investors and would be lower if they did. The performance of other share classes may vary from that shown because of differences in expenses.
The Fund’s Class A shares year-to-date return at September 30, 2015 was -6.61%.
Columbia Select International Equity Fund (Buying Fund)
CLASS A SHARE PERFORMANCE
(based on calendar years)
During the periods shown in the bar chart, the highest return for a calendar quarter was +25.94% (quarter ended June 30, 2009) and the lowest return for a calendar quarter was -24.41% (quarter ended December 31, 2008).
These returns do not reflect deductions of sales charges, if any, paid by investors and would be lower if they did. The performance of other share classes may vary from that shown because of differences in expenses.
The Fund’s Class A shares year-to-date return at September 30, 2015 was -3.84%.
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Average Annual Total Returns After Applicable Sales Charges (for periods ended December 31, 2014)
Columbia International Opportunities Fund (Selling Fund): | Share Class Inception Date | 1 year | 5 years | 10 years | ||||||||||||
Class A | ||||||||||||||||
Return before taxes | 08/01/2000 | -10.24 | % | 3.97 | % | 3.87 | % | |||||||||
Return after taxes on distributions | -10.15 | % | 3.94 | % | 3.27 | % | ||||||||||
Return after taxes on distributions and sale of Fund shares | -5.63 | % | 3.19 | % | 3.19 | % | ||||||||||
Class B | ||||||||||||||||
Return before taxes | 08/01/2000 | -10.31 | % | 4.08 | % | 3.70 | % | |||||||||
Class C | ||||||||||||||||
Return before taxes | 08/01/2000 | -6.53 | % | 4.41 | % | 3.71 | % | |||||||||
Class I | ||||||||||||||||
Return before taxes | 09/27/2010 | -4.44 | % | 5.68 | % | 4.72 | % | |||||||||
Class R | ||||||||||||||||
Return before taxes | 01/23/2006 | -5.02 | % | 4.95 | % | 4.23 | % | |||||||||
Class R4 | ||||||||||||||||
Return before taxes | 11/08/2012 | -4.56 | % | 5.31 | % | 4.54 | % | |||||||||
Class Z | ||||||||||||||||
Return before taxes | 08/01/2000 | -4.65 | % | 5.47 | % | 4.74 | % | |||||||||
MSCI EAFE Index (Net) (reflects reinvested dividends net of withholding taxes but reflects no deductions for fees, expenses or other taxes) | -4.90 | % | 5.33 | % | 4.43 | % |
Average Annual Total Returns After Applicable Sales Charges (for periods ended December 31, 2014)
Columbia Select International Equity Fund (Buying Fund): | Share Class Inception Date | 1 year | 5 years | 10 years | ||||||||||||
Class A | ||||||||||||||||
Return before taxes | 06/03/1992 | -11.44 | % | 2.39 | % | 2.42 | % | |||||||||
Return after taxes on distributions | -11.33 | % | 2.32 | % | 1.79 | % | ||||||||||
Return after taxes on distributions and sale of Fund shares | -6.37 | % | 2.00 | % | 2.09 | % | ||||||||||
Class B | ||||||||||||||||
Return before taxes | 06/07/1993 | -11.44 | % | 2.47 | % | 2.25 | % | |||||||||
Class C | ||||||||||||||||
Return before taxes | 06/17/1992 | -7.71 | % | 2.84 | % | 2.26 | % | |||||||||
Class I | ||||||||||||||||
Return before taxes | 09/27/2010 | -5.56 | % | 4.08 | % | 3.38 | % |
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Share Class Inception Date | 1 year | 5 years | 10 years | |||||||||||||
Class K | ||||||||||||||||
Return before taxes | 03/07/2011 | -5.87 | % | 3.79 | % | 3.18 | % | |||||||||
Class R | ||||||||||||||||
Return before taxes | 01/23/2006 | -6.34 | % | 3.36 | % | 2.77 | % | |||||||||
Class R4 | ||||||||||||||||
Return before taxes | 11/08/2012 | -5.83 | % | 3.88 | % | 3.28 | % | |||||||||
Class R5 | ||||||||||||||||
Return before taxes | 11/08/2012 | -5.68 | % | 3.95 | % | 3.32 | % | |||||||||
Class W | ||||||||||||||||
Return before taxes | 09/27/2010 | -6.03 | % | 3.63 | % | 3.04 | % | |||||||||
Class Y | ||||||||||||||||
Return before taxes | 03/07/2011 | -5.56 | % | 4.06 | % | 3.37 | % | |||||||||
Class Z | ||||||||||||||||
Return before taxes | 12/02/1991 | -5.86 | % | 3.88 | % | 3.28 | % | |||||||||
MSCI EAFE Index (Net) (reflects reinvested dividends net of withholding taxes but reflects no deductions for fees, expenses or other taxes) |
| -4.90 | % | 5.33 | % | 4.43 | % |
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ADDITIONAL INFORMATION ABOUT EACH REORGANIZATION
The Board of each Fund has approved the Agreement. While shareholders are encouraged to review the Agreement, which has been filed with the SEC as an exhibit to the registration statement of which this combined proxy statement/prospectus is a part, the following is a summary of certain terms of the Agreement:
• | Each Reorganization is expected to occur before the end of the first half of 2016, subject to approval by Selling Fund shareholders, receipt of any necessary regulatory approvals and satisfaction of any other conditions to closing. However, following such approvals, each Reorganization may happen at any time agreed to by the applicable Selling Fund and the corresponding Buying Fund. |
• | Each Selling Fund will transfer all of its assets to the corresponding Buying Fund and, in exchange, the corresponding Buying Fund will assume all the Selling Fund’s liabilities and will issue Reorganization Shares to the Selling Fund. The value of each Selling Fund’s assets, as well as the number of Reorganization Shares to be issued to the Selling Fund, will be determined in accordance with the Agreement. The Reorganization Shares will have an aggregate net asset value on the business day immediately preceding the closing of the Reorganization equal to the value of the assets received from the Selling Fund, less the liabilities assumed by the corresponding Buying Fund in the transaction. The Reorganization Shares will immediately be distributed to Selling Fund shareholders in proportion to their holdings of shares of the Selling Fund, in liquidation of the Selling Fund. As a result, shareholders of the Selling Fund will become shareholders of the corresponding Buying Fund. No shareholders of any Selling Fund will pay any sales charge in connection with its Reorganization. |
• | The net asset value of each Selling Fund and the corresponding Buying Fund will be computed as of the close of regular trading on the New York Stock Exchange on the business day next preceding the closing date of the applicable Reorganization. |
Conditions to Closing Each Reorganization
The completion of each Reorganization is subject to certain conditions described in the Agreement, including:
• | The Selling Fund will have declared and paid one or more dividends that, together with all previous dividends, will distribute all of the Selling Fund’s net investment income and net realized capital gains, if any, to the shareholders of the Selling Fund for its tax year ending on the closing date of the Reorganization, and for prior tax years to the extent such dividends are eligible to be treated as paid in respect of such prior tax years. |
• | The Selling Fund and the corresponding Buying Fund will have received any approvals, consents or exemptions from the SEC or any other regulatory body necessary to carry out the Reorganization. |
• | A registration statement on Form N-14 relating to the Reorganization will have been filed with the SEC and become effective. |
• | The shareholders of the Selling Fund will have approved the Agreement by the requisite vote. |
• | The Selling Fund and the corresponding Buying Fund will have received an opinion of tax counsel to the effect that, as described in more detail in the section entitled “Tax Status of the Reorganizations,” the shareholders of the Selling Fund will not recognize gain or loss for U.S. federal income tax purposes upon the exchange of their Selling Fund shares for the Reorganization Shares of the corresponding Buying Fund in connection with the Reorganization and the Selling Fund generally will not recognize gain or loss as a direct result of the Reorganization. |
The Agreement and the transactions contemplated by it may be terminated and abandoned with respect to any Reorganization by mutual agreement of the Selling Fund and the Buying Fund at any time prior to the closing date thereof, or by either the Selling Fund or the Buying Fund in the event of a material breach of the Agreement by the other Fund or a failure of any condition precedent to the terminating Fund’s obligations under the Agreement. In the event of a termination, Columbia Threadneedle will bear all costs associated with the Reorganization.
Tax Status of the Reorganizations
Each Reorganization is intended to qualify for U.S. federal income tax purposes as a tax-free reorganization under section 368(a) of the Internal Revenue Code of 1986, as amended (the “Code”). As a condition to the closing of each Reorganization, the Selling Fund and the Buying Fund will receive an opinion from Ropes & Gray LLP substantially to the effect that, as further described below, on the basis of existing provisions of the Code, U.S. Treasury regulations issued thereunder, current administrative rules, pronouncements and court decisions, generally for U.S. federal income tax purposes:
• | The Reorganization will constitute a “reorganization” within the meaning of Section 368(a)(1) of the Code, and the Selling Fund and the Buying Fund will each be “a party to a reorganization” within the meaning of Section 368(b) of the Code. |
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• | Under Sections 361 and 357 of the Code, the Selling Fund will not recognize gain or loss upon the transfer of all of its assets to the Buying Fund in exchange for Reorganization Shares and the assumption by the Buying Fund of all of the liabilities of the Selling Fund, or upon the distribution of the Reorganization Shares by the Selling Fund to its shareholders in liquidation, except for (A) any gain or loss recognized on (1) “Section 1256 contracts” as defined in Section 1256(b) of the Code or (2) stock in a “passive foreign investment company” as defined in Section 1297(a) of the Code, and (B) any other gain or loss required to be recognized by reason of the Reorganization (1) as a result of the closing of the tax year of the Selling Fund, (2) upon the termination of a position, or (3) upon the transfer of such asset regardless of whether such a transfer would otherwise be a nontaxable transaction under the Code. |
• | Under Section 354 of the Code, the shareholders of the Selling Fund will not recognize gain or loss upon the exchange of their Selling Fund shares for Reorganization Shares. |
• | Under Section 358 of the Code, the aggregate tax basis of Reorganization Shares that a Selling Fund shareholder receives in the Reorganization will be the same as the aggregate tax basis of the Selling Fund shares exchanged therefor. |
• | Under Section 1223(1) of the Code, a Selling Fund shareholder’s holding period for the Reorganization Shares received in the Reorganization will include the shareholder’s holding period for the Selling Fund shares exchanged therefor, provided the shareholder held such Selling Fund shares as capital assets. |
• | Under Section 1032 of the Code, the Buying Fund will not recognize gain or loss upon the receipt of assets of the Selling Fund in exchange for Reorganization Shares and the assumption by the Buying Fund of all of the liabilities of the Selling Fund. |
• | Under Section 362(b) of the Code, the Buying Fund’s tax basis in the assets of the Selling Fund transferred to the Buying Fund in the Reorganization will be the same as the Selling Fund’s tax basis in such assets immediately prior to the Reorganization, adjusted for any gain or loss required to be recognized as described in the second bullet. |
• | Under Section 1223(2) of the Code, the Buying Fund’s holding periods in the assets received from the Selling Fund in the Reorganization, other than any asset with respect to which gain or loss is required to be recognized as described in the second bullet, will include the periods during which such assets were held or treated for federal income tax purposes as being held by the Selling Fund. |
• | The Buying Fund will succeed to and take into account the items of the Selling Fund described in Section 381(c) of the Code, subject to the conditions and limitations specified in Sections 381, 382, 383 and 384 of the Code and the regulations thereunder. |
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Each opinion will be based on certain factual certifications made by the officers of the Selling Fund and the Buying Fund and will also be based on customary assumptions. Each opinion will note and distinguish certain published precedent. It is possible that the Internal Revenue Service (the “IRS”) or a court could disagree with Ropes & Gray LLP’s opinion, which therefore cannot be free from doubt.
Opinions of counsel are not binding upon the IRS or the courts. If a Reorganization were consummated but did not qualify as a tax-free reorganization under the Code, a shareholder of the Selling Fund would recognize a taxable gain or loss for federal income tax purposes equal to the difference between its tax basis in its Selling Fund shares and the fair market value of the Reorganization Shares it received. Shareholders of a Selling Fund should consult their tax advisers regarding the effect, if any, of the Reorganization in light of their individual circumstances.
A portion of the portfolio assets of each Buying Fund and Selling Fund may be sold at any time before or after the Reorganization in connection with its Reorganization. The actual tax effect of any such sales depends on the difference between the price at which such portfolio assets are sold and the tax basis in such assets of the Fund making the sale. Any capital gains recognized in these sales on a net basis, after reduction by any available capital losses, will be distributed to shareholders as capital gain dividends (to the extent of net realized long-term capital gains over net realized short-term capital losses) and/or ordinary dividends (to the extent of net realized short-term capital gains over net realized long-term capital losses) during or with respect to the year of sale, and such distributions will be taxable to shareholders. Each Reorganization will end the tax year of the applicable Selling Fund, and potentially will accelerate any distributions to shareholders from the Selling Fund for its short tax year ending on the date of the Reorganization. Those tax year-end distributions will be taxable and will include any undistributed capital gains resulting from portfolio turnover prior to the Reorganization.
More generally, prior to the closing of each Reorganization, the Selling Fund will, and the Buying Fund may, declare a distribution to shareholders, which, together with all previous distributions, will have the effect of distributing to shareholders all of its investment company taxable income (computed without regard to the deduction for dividends paid), net tax-exempt income, if any, and net realized capital gains, if any, through the closing of the Reorganization, and may include undistributed income or gains from prior years. These distributions will be taxable to shareholders, and such distributions by the Selling Fund will include any distributable, but undistributed, capital gains resulting from portfolio turnover prior to the Reorganization.
A Fund’s ability to carry forward capital losses and to use them to offset future gains may be limited as a result of its Reorganization. First, a Fund’s “pre-acquisition losses” (including capital loss carryforwards, net current-year capital losses, and unrealized losses that exceed certain thresholds) may become unavailable to offset gains of the combined Fund to the extent such pre-acquisition losses exceed an annual limitation amount. Second, one Fund’s pre-acquisition losses cannot be used to offset gains in another Fund that are unrealized (“built in”) at the time of the Reorganization and that exceed certain thresholds (“non-de minimis built-in gains”) for five tax years. Third, the Selling Fund’s loss carryforwards, as limited under the previous two rules, are permitted to offset only that portion of the gains of the Buying Fund for the taxable year of the Reorganization that is equal to the portion of the Buying Fund’s taxable year that follows the date of the Reorganization (prorated according to number of days). Therefore, in certain circumstances, shareholders of a Fund may pay taxes sooner, or pay more taxes, than they would have had the Reorganization not occurred.
In addition, the combined Fund will have tax attributes that reflect a blending of the tax attributes of each Fund at the time of the Reorganization (including as affected by the rules described above). Therefore, the shareholders of the Selling Fund will in each case receive a proportionate share of any unrealized gains in the combined Fund’s assets, as well as any taxable income or gains realized by the Buying Fund but not distributed to its shareholders prior to the Reorganization, when such income or gains are eventually distributed by the Buying Fund. As a result, shareholders of the Selling Fund may receive a greater amount of taxable distributions than they would have had the Reorganization not occurred. In addition, any pre-acquisition losses of the Selling Fund (whether realized or unrealized) remaining after the operation of the limitation rules described above will become available to offset capital gains realized by the combined Fund after the Reorganization and thus may reduce subsequent capital gain distributions to a broader group of shareholders than would have been the case absent such Reorganization, such that the benefit of those losses to Selling Fund shareholders may be further reduced relative to what the benefit would have been had the Reorganization not occurred.
The realized and unrealized gains and losses of each Fund at the time of the Reorganization, and the occurrence of other Reorganizations involving the same Buying Fund, will determine the extent to which the combining Funds’ respective losses, both realized and unrealized, will be available to reduce gains realized by the combined Fund following the Reorganization, and consequently the extent to which the combined Fund may be required to distribute gains to its shareholders earlier or in greater amounts than would have been the case absent the Reorganization. The effect of the rules described above will depend on the relative sizes of, and the losses and gains (both realized and unrealized) in, each Fund at the time of the Reorganization and thus cannot be calculated precisely prior to the Reorganization.
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The following paragraphs provide a brief summary of the tax effect of each Reorganization assuming all Reorganizations occurred on September 30, 2015. As noted above, the tax effect of a Reorganization depends on each Fund’s relative tax situation at the time of the Reorganization, which situation will be different than the tax situation on September 30, 2015 and cannot be calculated precisely prior to the Reorganization. Portfolio turnover in a Fund, market fluctuations, redemption activity, the nonoccurrence of one or more other Reorganizations into the same Buying Fund, or changes in the tax laws could cause the actual tax effect of the Reorganization to differ substantially from that described below. For purposes of the following discussion, a Fund’s “net realized losses” consist of its capital loss carryforwards plus year-to-date net realized losses or net of year-to-date net realized gains, in each case as of September 30, 2015.
Proposal 1. Reorganization of Columbia Value and Restructuring Fund into Columbia Contrarian Core Fund.
As of September 30, 2015, the Selling Fund had no net realized losses, negligible year-to-date net realized gains and net unrealized gains equal to about 19% of net assets. The Buying Fund had negligible year-to-date net realized losses and net unrealized gains equal to about 11% of net assets.
If the Reorganization had occurred on September 30, 2015, it would have enabled the Selling Fund to spread its proportionately larger net unrealized gains, if and when realized after the Reorganization, across the larger combined Fund, resulting in a potential tax benefit to Selling Fund shareholders and a potential tax cost to Buying Fund shareholders.
Proposal 2. Reorganizations of Columbia Large Cap Growth Fund II, Columbia Large Cap Growth Fund III, Columbia Large Cap Growth Fund IV and Columbia Large Cap Growth Fund V into Columbia Large Cap Growth Fund.
As of September 30, 2015, Columbia Large Cap Growth Fund II had, net of year-to-date realized gains, net realized losses equal to about 164% of net assets, consisting of carryforward losses set to expire in four years, and net unrealized gains equal to about 9% of net assets. Columbia Large Cap Growth Fund III had no net realized losses, year-to-date realized gains equal to about 16% of net assets and net unrealized gains equal to about 12% of net assets. Columbia Large Cap Growth Fund IV had year-to-date net realized losses equal to about 5% of net assets and net unrealized gains equal to about 8% of net assets. Columbia Large Cap Growth Fund V had no net realized losses, year-to-date net realized gains equal to about 22% of net assets and net unrealized gains equal to about 10% of net assets. Columbia Large Cap Growth Fund had year-to-date net realized gains equal to about 1% of net assets, carryforward losses equal to less than 1% of net assets, all of which were set to expire in one to two years, and net unrealized gains equal to about 15% of net assets.
If all four Reorganizations had occurred on September 30, 2015, Columbia Large Cap Growth Fund II would have been required to share its proportionately larger net realized losses with the larger combined Fund, thereby creating a potential tax cost to its shareholders and potential tax benefits to shareholders of the other four Funds. The loss limitation rules would have limited the combined Fund’s ability to use the net realized losses shared by Columbia Large Cap Growth Fund II to offset gains recognized, thereby potentially resulting in turn in earlier and larger taxable distributions and therefore adding to the potential tax cost to Columbia Large Cap Growth Fund II shareholders, as well as diminishing the potential tax benefits to shareholders of the other four Funds. Each of the other four Funds would have become subject to its own annual loss limitation, but that limitation would have had no effect on Columbia Large Cap Growth Fund, Columbia Large Cap Growth Fund III or Columbia Large Cap Growth Fund V shareholders, as those three Funds had no pre-Reorganization losses, and little to no effect on Columbia Large Cap Growth Fund IV shareholders, as that Fund’s only realized losses were from the year to date, and not substantially in excess of the annual loss limitation. Finally, if and when realized after the Reorganizations, the proportionately larger net unrealized gains of Columbia Large Cap Growth Fund would have been spread across the larger combined Fund, thereby adding to the potential tax benefit to its shareholders and the potential tax cost to shareholders of Columbia Large Cap Growth Fund II, and reducing or eliminating the potential tax benefit to shareholders of Columbia Large Cap Growth Fund III, Columbia Large Cap Growth Fund IV and Columbia Large Cap Growth Fund V.
Proposal 3. Reorganization of Columbia Multi-Advisor Small Cap Value Fund into Columbia Select Smaller-Cap Value Fund.
As of September 30, 2015, the Selling Fund had no net realized losses, and net realized and unrealized gains each equal to about 3% of net assets. Buying Fund had, net of year-to-date realized gains, net realized losses equal to about 1% of net assets, consisting of carryforward losses set to expire in one to two years, and net unrealized gains equal to about 20% of net assets.
If the Reorganization had occurred on September 30, 2015, it would have enabled the Buying Fund to spread its proportionately larger net unrealized gains, if and when realized after the Reorganization, across the larger combined Fund, resulting in a potential tax cost to Selling Fund shareholders and a potential tax benefit to Buying Fund shareholders.
Proposal 4. Reorganization of Columbia International Value Fund into Columbia Overseas Value Fund.
As of September 30, 2015, the Selling Fund had, net of year-to-date realized gains, net realized losses equal to about 322% of net assets, consisting of carryforward losses about half of which were set to expire in three to four years and the other half of which never expire. The Selling Fund had net unrealized losses equal to about 10% of net assets. Buying Fund had, net of year-to-date realized gains, net realized losses equal to about 2% of net assets, consisting of carryforward losses a portion of which were subject to a prior loss limitation and the majority of which never expire. The Buying Fund had net unrealized losses equal to about 5% of net assets.
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If the Reorganization had occurred on September 30, 2015, it would have caused Selling Fund’s carryforward losses otherwise set to expire, to expire one year earlier than they otherwise would have, and the Selling Fund would have become subject to an annual loss limitation, but, given the tax rule requiring nonexpiring losses to be used first, those expiring loss carryforwards would almost surely have expired unused in any event. Thus, as a practical matter the limitation would have limited only the combined Fund’s use of the Selling Fund’s nonexpiring losses. The Reorganization would nonetheless have required the Selling Fund to share its proportionately larger net realized losses with the larger combined Fund, thereby adding to the potential tax cost to Selling Fund shareholders and resulting in a potential tax benefit to Buying Fund shareholders.
Proposal 5. Reorganization of Columbia International Opportunities Fund into Columbia Select International Equity Fund.
As of September 30, 2015, the Selling Fund had, net of year-to-date realized gains, net realized losses equal to about 575% of net assets, consisting of carryforward losses set to expire in two to three years, and net unrealized losses equal to about 13% of net assets. Buying Fund had, net of year-to-date realized gains, net realized losses equal to about 143% of net assets, consisting of carryforward losses all of which were set to expire in one to two years, and net unrealized losses equal to about 2% of net assets.
If the Reorganization had occurred on September 30, 2015, it would have caused Selling Fund’s carryforward losses to expire one year earlier than they otherwise would have, thereby resulting in a potential tax cost to Selling Fund shareholders. The Selling Fund would have technically also become subject to an annual loss limitation; the loss limitation would not have had any practical effect, as Buying Fund had ample carryforward losses to offset any gains. The Reorganization would have had no tax effect on Buying Fund shareholders, as Buying Fund’s carryforward losses would not have been subject to limitation, and would have sufficed to offset any realized gains of the combined Fund.
Reasons for the Proposed Reorganizations and Board Deliberations
Each Reorganization was reviewed by the Board of the Selling Fund involved therein, with the advice and assistance of Fund counsel and independent legal counsel to such Board. Columbia Large Cap Growth Fund II, Columbia Large Cap Growth Fund III, Columbia Large Cap Growth Fund IV, Columbia Large Cap Growth Fund V, Columbia Multi-Advisor Small Cap Value Fund, Columbia International Value Fund and Columbia International Opportunities Fund are overseen by one Board (the “Columbia Funds Board”); Columbia Value and Restructuring Fund is overseen by a second Board (the “Columbia Atlantic Board”). Information on the members of the Columbia Funds Board and the Columbia Atlantic Board and their respective governance structures can be found in Exhibit A to the Statement of Additional Information dated [•]. At regular meetings of the Columbia Funds Board in November 2015 and December 2015 and of the Columbia Atlantic Board or a Committee thereof in November 2015 and December 2015, each Board considered the Reorganization of each Selling Fund overseen by it, as proposed by Columbia Threadneedle. In connection with those Board or Committee meetings, Columbia Threadneedle and its affiliates provided background materials, analyses and other information to each Board regarding, among other things, the topics discussed below, including responses to specific requests by each Board, and responded to questions raised by each Board or Committee at those meetings.
After each Board reviewed, evaluated and discussed the materials, analyses and information provided to it that the Board considered relevant to its deliberations, each Board, including the independent Board members thereof, unanimously approved the Reorganization of each Selling Fund overseen by it. Each Board, including the independent Board members thereof, also unanimously determined that participation by each Selling Fund overseen by it in its Reorganization was in the best interests of the Selling Fund and that the interests of existing shareholders of the Selling Fund would not be diluted as a result of the Reorganization.
The general factors considered by each Board in assessing and approving each applicable Reorganization included, among others, in no order of priority:
1. | various potential benefits of the Reorganization to the shareholders of the Selling Fund; |
2. | the Reorganization as part of Columbia Threadneedle’s overall commitment to streamline and to improve its fund offerings for the benefit of Fund shareholders; |
3. | the substantial similarities of the investment objectives and principal investment strategies of the Selling Fund and the Buying Fund; |
4. | the operating expenses that shareholders of each class of shares of the Selling Fund are expected to experience as shareholders of the Buying Fund after the Reorganization relative to the operating expenses currently borne by such shareholders, including that, on a net basis, such expenses generally are expected to decline or remain the same as a result of the Reorganization (see “Fees and Expenses”); |
5. | the current assets of the Selling Fund and the Buying Fund, and the anticipated combined pro forma assets of the Buying Fund after the Reorganization and potential for economies of scale; |
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6. | the portfolio management team expected to be responsible for the combined Fund, and the historical performance of the Selling Fund and the Buying Fund, recognizing that no assurances can be given that the Buying Fund will achieve any particular level of performance after the Reorganization; |
7. | the likelihood that the Selling Fund would achieve and/or maintain sufficient size to ensure its continued economic viability absent the Reorganization, and the Buying Fund’s relative prospects for attracting additional assets after the Reorganization; |
8. | the anticipated tax-free nature of the exchange of shares in the Reorganization, and other expected U.S. federal income tax consequences of the Reorganization, including potential limitations on the Buying Fund’s use of the Selling Fund’s pre-merger losses for U.S. federal income tax purposes after the Reorganization and the potential diminution of the Buying Fund’s ability to use those losses to offset future gains (see “Tax Status of the Reorganizations”); |
9. | the potential benefits of the Reorganization to Columbia Threadneedle and its affiliates; |
10. | that shareholders of the Selling Fund will experience no material change in shareholder services as a result of the Reorganization; |
11. | any brokerage costs resulting from the Reorganization (e.g., the Selling Fund’s turnover associated with and resulting from the sale of any securities the Buying Fund cannot, or does not wish to, acquire); |
12. | that the direct costs associated with the Reorganization will be borne by the Selling Fund only to the extent that Columbia Threadneedle anticipates a reduction in expenses to shareholders of the Selling Fund in the first year following the Reorganization; and |
13. | Columbia Threadneedle’s representation that the Reorganization is not expected to result in the diminution in the level or quality of services that the Selling Fund shareholders currently receive. |
In their deliberations, the Boards did not identify any single factor that was paramount or controlling and individual Board members may have attributed different weights to various factors. Each Board also evaluated the information available to it on a Selling Fund-by-Selling Fund basis, and made determinations separately in respect of each Selling Fund it oversees. Certain of the factors considered by each Board are discussed in more detail below.
STREAMLINED PRODUCT LINE. Each Board considered that the Reorganizations are part of a larger effort intended, among other things, to streamline Columbia Threadneedle’s product offerings by reducing the number of funds in the Columbia Fund Complex. Reducing the number of funds in the complex is intended to enhance the funds’ prospects for attracting additional assets by better differentiating the funds for potential shareholders (which may lead to a more concentrated selling effort).
CONTINUITY OF INVESTMENT. Each Board took into account the fact that each applicable Selling Fund and its corresponding Buying Fund have substantially similar investment objectives and principal investment strategies. Specifically, the relevant Board noted the following with respect to each Reorganization:
Proposal 1
Columbia Value and Restructuring Fund into Columbia Contrarian Core Fund.
Among other factors, the Columbia Atlantic Board considered that both Columbia Value and Restructuring Fund and the Buying Fund have similar investment objectives. The Board noted that the Funds have similar principal investment strategies as each Fund normally invests primarily in common stocks that have larger market capitalizations (generally over $2 billion). The Board also noted that the Funds have the same lead portfolio manager.
Proposal 2
Columbia Large Cap Growth Fund II into Columbia Large Cap Growth Fund.
Among other factors, the Columbia Funds Board considered that the Funds have similar investment objectives. The Board noted that the Funds have similar principal investment strategies as each Fund normally invests primarily in common stocks and securities that can be converted into common stocks. The Board noted that the Funds have the same principal investment strategies. The Board noted that each Fund normally invests at least 80% of its net assets in equity securities of large-capitalization companies with market capitalizations in the range of companies in the Russell 1000 Growth Index at the time of purchase (between $908 million and $688.4 billion as of October 31, 2015). The Board also noted that, as of November 20, 2015, the Funds share the same portfolio management team.
Columbia Large Cap Growth Fund III into Columbia Large Cap Growth Fund.
Among other factors, the Columbia Funds Board considered that the Funds have similar investment objectives. The Board noted that the Funds have similar principal investment strategies as each Fund normally invests primarily in common stocks and securities that can be converted into common stocks. The Board also noted that the Funds have similar principal investment strategies. The
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Board noted that each Fund normally invests at least 80% of its net assets in equity securities of large-capitalization companies with market capitalizations in the range of companies in the Russell 1000 Growth Index at the time of purchase (between $908 million and $688.4 billion as of October 31, 2015). The Board also noted that, as of November 20, 2015, the Funds share the same portfolio management team. The Board did note that the Selling Fund portfolio is significantly more concentrated than that of the Buying Fund.
Columbia Large Cap Growth Fund IV into Columbia Large Cap Growth Fund.
Among other factors, the Columbia Funds Board considered that the Funds have similar investment objectives. The Board noted that the Funds have similar principal investment strategies as each Fund normally invests primarily in common stocks and securities that can be converted into common stocks. The Board also noted that the Funds have the same principal investment strategies. The Board noted that each Fund normally invests at least 80% of its net assets in equity securities of large-capitalization companies with market capitalizations in the range of companies in the Russell 1000 Growth Index at the time of purchase (between $908 million and $688.4 billion as of October 31, 2015). The Board also noted that, as of November 20, 2015, the Funds share the same portfolio management team.
Columbia Large Cap Growth Fund V into Columbia Large Cap Growth Fund.
Among other factors, the Columbia Funds Board considered that the Funds have similar investment objectives. The Board noted that the Funds have similar principal investment strategies as each Fund normally invests primarily in common stocks and securities that can be converted into common stocks. The Board also noted that the Funds have the same principal investment strategies. The Board noted that each Fund normally invests at least 80% of its net assets in equity securities of large-capitalization companies with market capitalizations in the range of companies in the Russell 1000 Growth Index at the time of purchase (between $908 million and $688.4 billion as of October 31, 2015). The Board also noted that, as of November 20, 2015, the Funds share the same portfolio management team.
Proposal 3
Columbia Multi-Advisor Small Cap Value Fund into Columbia Select Smaller-Cap Value Fund.
Among other factors, the Columbia Funds Board considered that the Funds seek the same investment objective. The Board also noted that the Funds have similar principal investment strategies. The Board noted that the Buying Fund normally invests at least 80% of its net assets in equity securities of smaller capitalization issuers that have market capitalizations in the range of companies in the Russell 2000 Value Index at the time of purchase (between $44 million and $4.6 billion as of October 31, 2015). The Board further noted that Columbia Multi-Advisor Small Cap Value Fund normally invests at least 80% of its net assets in small cap companies that have a market capitalization, at the time of investment, of up to $2.5 billion or that fall within the range of the Russell 2000 Value Index. The Board did consider though that the Buying Fund is managed directly and exclusively by Columbia Threadneedle, whereas the Selling Fund currently has multiple subadvisers responsible for day-to-day portfolio management of the Fund subject to the oversight of Columbia Threadneedle.
Proposal 4
Columbia International Value Fund into Columbia Overseas Value Fund.
Among other factors, the Columbia Funds Board considered that the Funds seek the same investment objective and have the same principal investment strategies. Each Fund normally invests at least 80% of its total assets in equity securities of foreign companies that have market capitalizations of more than $1 billion at the time of purchase. The Board also noted that the Funds share the same portfolio management team.
Proposal 5
Columbia International Opportunities Fund into Columbia Select International Equity Fund.
Among other factors, the Columbia Funds Board considered that the Funds seek the same investment objective. The Board also considered that the Funds have similar principal investment strategies. The Board noted that the Selling Fund normally invests at least 65% of its total assets in equity securities of companies located in at least three countries other than the United States, including emerging market countries, while the Buying Fund normally invests at least 80% of its net assets in equity securities of established companies located in at least three countries other than the United States, including emerging market countries. The Board also noted that the Funds share the same portfolio management team.
EXPENSE RATIO. Each Board took into account the fact that the total annual operating expense ratio of each applicable Selling Fund (net of applicable waivers/reimbursements) is generally expected to decrease or remain unchanged following its Reorganization.
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INVESTMENT PERFORMANCE. Each Board considered the relative performance record of each Selling Fund overseen by it and of each corresponding Buying Fund, noting, however, that past performance is no guarantee of future results. Specifically, the relevant Board noted the following with respect to each Reorganization:
Proposal 1
Columbia Value and Restructuring Fund into Columbia Contrarian Core Fund.
Among other factors, the Columbia Atlantic Board considered the relative performance of the Funds for periods ending September 30, 2015, during which Columbia Contrarian Core Fund’s performance was better for the one-, five-, and ten-year periods, but Columbia Value and Restructuring Fund’s performance was better for the three-year period.
Proposal 2
Columbia Large Cap Growth Fund II into Columbia Large Cap Growth Fund.
Among other factors, the Columbia Funds Board considered the relative performance of the Funds for periods ending September 30, 2015, during which Columbia Large Cap Growth Fund’s performance was better for the one-, three-, five-, and ten-year periods, but Columbia Value and Restructuring Fund’s performance was better for the three-year period.
Columbia Large Cap Growth Fund III into Columbia Large Cap Growth Fund.
Among other factors, the Columbia Funds Board considered the relative performance of the Funds for periods ending September 30, 2015, during which Columbia Large Cap Growth Fund’s performance was better for the one-, three-, five- and ten-year periods. The Board noted, however, that since November 20, 2015, both Funds now have the same portfolio management team, which is managing both Funds in a substantially similar investment style.
Columbia Large Cap Growth Fund IV into Columbia Large Cap Growth Fund.
Among other factors, the Columbia Funds Board considered the relative performance of the Funds for periods ending September 30, 2015, during which Columbia Large Cap Growth Fund’s performance was better for the one-, three-, five- and ten-year periods. The Board noted that ten-year performance information for Columbia Large Cap Growth Fund IV was not available. The Board further noted that since November 20, 2015, both Funds now have the same portfolio management team, which is managing both Funds in a substantially similar investment style.
Columbia Large Cap Growth Fund V into Columbia Large Cap Growth Fund.
Among other factors, the Columbia Funds Board considered the relative performance of the Funds for periods ending September 30, 2015, during which the Columbia Large Cap Growth Fund’s performance was better for the one-, three-, five- and ten-year periods. The Board noted, however, that since November 20, 2015, both Funds now have the same portfolio management team, which is managing both Funds in a substantially similar investment style.
Proposal 3
Columbia Multi-Advisor Small Cap Value Fund into Columbia Select Smaller-Cap Value Fund.
Among other factors, the Columbia Funds Board considered the relative performance of the Funds for periods ending September 30, 2015, during which Columbia Select Smaller-Cap Value Fund’s performance was better for the one-, three-, five- and ten-year periods.
Proposal 4
Columbia International Value Fund into Columbia Overseas Value Fund.
Among other factors, the Columbia Funds Board considered the relative performance of the Funds for periods ending September 30, 2015, during which Columbia Overseas Value Fund’s performance was better for the one- and five-year periods, but Columbia International Value Fund’s performance was better for the three- and ten-year periods. The Board noted that ten-year performance information for Columbia Overseas Value Fund was not available and that since 2013, both Funds have had the same portfolio management team, which is managing both Funds in a substantially similar investment style.
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Proposal 5
Columbia International Opportunities Fund into Columbia Select International Equity Fund.
Among other factors, the Columbia Funds Board considered the relative performance of the Funds for periods ending September 30, 2015, during which Columbia International Opportunities Fund’s performance was better for the one-, three-, five- and ten-year periods.
ECONOMIES OF SCALE. Each Board observed that, in addition to the potential to realize immediate economies associated with consolidating each Selling Fund into a larger combined Fund, such as the elimination of duplicative costs, the combined funds may be able to take advantage of other economies of scale associated with larger funds. For example, a larger fund may benefit from fee breakpoints more quickly, may have an enhanced ability to effect portfolio transactions on favorable terms and may have greater investment flexibility. Each Board also considered the potential benefits and economies of scale to Columbia Threadneedle resulting from the Reorganizations, in the long-term, and whether those benefits were shared with Fund shareholders. Each Board also considered Columbia Threadneedle’s belief that each Buying Fund would be better positioned to experience growth in assets from investor inflows than each Selling Fund overseen by such Board.
Board Recommendation and Required Vote
The Board of each Selling Fund unanimously recommends that shareholders of that Selling Fund approve the proposed Agreement.
For each Selling Fund, the Agreement must be approved by the affirmative vote of a majority of the outstanding voting securities of the Selling Fund, as defined in the 1940 Act. A vote of a majority of the outstanding voting securities of the Selling Fund is defined in the 1940 Act as the affirmative vote of the lesser of (a) 67% or more of the voting securities of the Selling Fund that are present or represented by proxy at the Meeting, if the holders of more than 50% of the outstanding voting securities of the Selling Fund are present or represented by proxy at the Meeting; or (b) more than 50% of the outstanding voting securities of the Selling Fund.
If the Agreement is not approved for a Selling Fund, the applicable Board will consider what further action should be taken with respect to the Selling Fund. The approval of the Reorganization of one Selling Fund is not conditioned upon the approval of the Reorganization of any other Selling Fund.
If shareholders approve the Reorganization of a Selling Fund, it is anticipated that the Reorganization would occur before the end of the first half of 2016.
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SECTION B — PROXY VOTING AND SHAREHOLDER MEETING INFORMATION
Voting. Shareholders of record of each Selling Fund on January 22, 2016 (the “Record Date”) are entitled to vote at the Meeting. With respect to each Reorganization, shares of each of Columbia Value and Restructuring Fund, Columbia Large Cap Growth Fund IV and Columbia Multi-Advisor Small Cap Value Fund are entitled to one vote for each dollar of net asset value (number of shares owned times net asset value per share), or a proportional fractional vote for each fractional dollar, represented by those shares on the Record Date, and shares of each of Columbia Large Cap Growth Fund II, Columbia Large Cap Growth Fund III, Columbia Large Cap Growth Fund V, Columbia International Value Fund and Columbia International Opportunities Fund are entitled to one vote per share or a proportional fractional vote for each fractional share. All share classes of a Selling Fund will vote together as one class on the Selling Fund’s proposed Reorganization. The total number of shares of each class of each Selling Fund outstanding as of the close of business on the Record Date, and the total number of votes to which shareholders of such class are entitled at the Meeting, are set forth below.
Class A | Class B | Class C | Class I | Class K | Class R | Class R4 | Class R5 | Class W | Class Y | Class Z | Total | |||||||||||||
Columbia Value and Restructuring Fund | ||||||||||||||||||||||||
Shares Outstanding | ||||||||||||||||||||||||
Total Votes to which Entitled | ||||||||||||||||||||||||
Columbia Large Cap Growth Fund II | ||||||||||||||||||||||||
Shares Outstanding | ||||||||||||||||||||||||
Total Votes to which Entitled | ||||||||||||||||||||||||
Columbia Large Cap Growth Fund III | ||||||||||||||||||||||||
Shares Outstanding | ||||||||||||||||||||||||
Total Votes to which Entitled | ||||||||||||||||||||||||
Columbia Large Cap Growth Fund IV | ||||||||||||||||||||||||
Shares Outstanding | ||||||||||||||||||||||||
Total Votes to which Entitled | ||||||||||||||||||||||||
Columbia Large Cap Growth Fund V | ||||||||||||||||||||||||
Shares Outstanding | ||||||||||||||||||||||||
Total Votes to which Entitled | ||||||||||||||||||||||||
Columbia Multi-Advisor Small Cap Value Fund | ||||||||||||||||||||||||
Shares Outstanding | ||||||||||||||||||||||||
Total Votes to which Entitled | ||||||||||||||||||||||||
Columbia International Value Fund | ||||||||||||||||||||||||
Shares Outstanding | ||||||||||||||||||||||||
Total Votes to which Entitled | ||||||||||||||||||||||||
Columbia International Opportunities Fund | ||||||||||||||||||||||||
Shares Outstanding | ||||||||||||||||||||||||
Total Votes to which Entitled |
Quorum and Methods of Tabulation. A quorum is required for shareholders of a Selling Fund to take action at the Meeting. For Columbia Large Cap Growth Fund II, Columbia Large Cap Growth Fund III, Columbia Large Cap Growth Fund V, Columbia International Value Fund and Columbia International Opportunities Fund, thirty three and one-third percent (33 1/3%) of the shares outstanding and entitled to vote, present at the Meeting in person or by proxy, constitutes a quorum. For Columbia Value and Restructuring Fund, thirty percent (30%) of the votes entitled to be cast at the Meeting, present at the Meeting in person or by proxy, constitutes a quorum. For Columbia Large Cap Growth Fund IV and Columbia Multi-Advisor Small Cap Value Fund, ten percent (10%) of the votes entitled to be cast at the Meeting, present at the Meeting in person or by proxy, constitutes a quorum.
All shares represented at the Meeting in person or by proxy will be counted for purposes of establishing a quorum. Broker non-votes will be counted for purposes of establishing a quorum but not toward the approval of any proposal. (Broker non-votes are shares for which the underlying owner has not voted and the broker holding the shares does not have authority to vote.) Abstentions and broker non-votes will have the effect of votes against the proposal. In certain circumstances in which a Selling Fund has received sufficient votes to approve a Reorganization, the Selling Fund may request that brokers and nominees, in their discretion, withhold submission of broker non-votes in order to avoid the need for solicitation of additional votes in favor of the proposal. A Selling Fund may also request that selected brokers and nominees, in their discretion, submit broker non-votes, if doing so is necessary to obtain a quorum.
If your shares are held in an IRA account, you have the right to vote those shares. If you do not provide voting instructions with respect to your shares, your IRA custodian may or may not, depending upon the terms of your IRA agreement, vote shares for which it has not received your voting instructions. Please consult your IRA agreement and/or financial advisor for more information.
Shareholder Proxies. If you properly authorize your proxy by internet or telephone, or by executing and returning the enclosed proxy card by mail, and your proxy is not subsequently revoked, your vote will be cast at the Meeting and at any postponement or adjournment thereof. If you give instructions, your vote will be cast in accordance with your instructions. If you return your signed proxy card without instructions, your vote will be cast in favor of the Reorganization of your Selling Fund. Your votes will be cast in the discretion of the proxy holders on any other matter that may properly come before the Meeting, including, but not limited to, proposing the adjournment of the Meeting with respect to one or more proposals in the event that sufficient votes in favor of any proposal are not received. Not all proposals affect each Selling Fund, and shareholders of a Selling Fund will be entitled to cast votes and authorize proxies on only those proposals affecting the Selling Fund in which they are shareholders. If you intend to vote in person at the Meeting, please call 800-708-7953 to obtain important information regarding your attendance at the Meeting, including directions.
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Proxy Statement Delivery. “Householding” is the term used to describe the practice of delivering one copy of a document to a household of shareholders instead of delivering one copy of a document to each shareholder in the household. Certain shareholders of the Selling Funds who share a common address and who have not opted out of the householding process may receive a single copy of the combined proxy statement/prospectus along with the proxy cards. If you received more than one copy of the combined proxy statement/prospectus, you may elect to household in the future if permitted by your financial intermediary. Contact the financial intermediary through which you purchased your shares to determine whether householding is an option for your account. If you received a single copy of the combined proxy statement/prospectus, you may opt out of householding in the future by contacting your financial intermediary.
An additional copy of this combined proxy statement/prospectus may be obtained by writing or calling the Selling Funds’ proxy solicitor, Computershare Fund Services, at c/o Operation Department, 280 Oser Avenue, Hauppauge, NY 11788, or toll free at 800-708-7953.
Revoking Your Proxy. If you execute, date and submit a proxy card with respect to your Selling Fund, you may revoke your proxy prior to the Meeting by providing written notice to the Funds’ proxy solicitor at Computershare Fund Services, c/o Operation Department, 280 Oser Avenue, Hauppauge, NY 11788, or change your vote by submitting a subsequently executed and dated proxy card, by authorizing your proxy by internet or telephone on a later date or by attending the Meeting and casting your vote in person. If you authorize your proxy by internet or telephone, you may change your vote prior to the Meeting by authorizing a subsequent proxy by internet or telephone or by completing, signing and returning a proxy card dated as of a date that is later than your last internet or telephone proxy authorization or by attending the Meeting and casting your vote in person. Merely attending the Meeting without voting will not revoke your prior proxy.
Simultaneous Meetings. The meeting for each Selling Fund will be held simultaneously with the meeting for each other Selling Fund, as well as certain other Columbia Funds with respect to other proposals, with each proposal being voted on separately by the shareholders of the relevant Selling Fund. If any shareholder objects to the holding of simultaneous meetings, the shareholder may move for an adjournment of his or her Selling Fund’s meeting to a time after the Meeting so that a meeting for that Selling Fund may be held separately. If a shareholder makes this motion, the persons named as proxies will take into consideration the reasons for the objection in deciding whether to vote in favor of the adjournment, and may vote for or against the adjournment in their discretion.
Solicitation of Proxies. The Board of each Selling Fund is asking for your vote and for you to vote as promptly as possible. The expenses of the solicitation will be allocated to each Fund subject to the limitations described in Exhibit A. Proxies will be solicited primarily through the mailing of the proxy statement/prospectus and its enclosures, but proxies also may be solicited through further mailings, telephone calls, personal interviews or e-mail by officers of each Selling Fund or by employees or agents of Columbia Threadneedle and its affiliated companies. In addition, Computershare Fund Services, 280 Oser Avenue, Hauppauge, NY 11788, has been engaged to assist in the solicitation of proxies, at the estimated cost set forth below, plus expenses.
Fund | Estimated Cost | |||
Columbia Value and Restructuring Fund | $ | [ | •] | |
Columbia Large Cap Growth Fund II | $ | [ | •] | |
Columbia Large Cap Growth Fund III | $ | [ | •] | |
Columbia Large Cap Growth Fund IV | $ | [ | •] | |
Columbia Large Cap Growth Fund V | $ | [ | •] | |
Columbia Multi-Advisor Small Cap Value Fund | $ | [ | •] | |
Columbia International Value Fund | $ | [ | •] | |
Columbia International Opportunities Fund | $ | [ | •] |
Shareholder Proposals. The Selling Funds do not hold annual meetings of shareholders. Shareholders who wish to make a proposal not involving the nomination of a person for election as a trustee at a Selling Fund’s next special meeting that may be included in the Selling Fund’s proxy materials must notify the relevant Selling Fund a reasonable amount of time before the Selling Fund begins to print and mail its proxy materials. The fact that a Selling Fund receives such a shareholder proposal in a timely manner does not ensure inclusion of the proposal in the proxy materials, because there are other requirements in the proxy rules and the Selling Fund’s bylaws relating to such inclusion.
Dissenters’ Right of Appraisal. Shareholders of each Selling Fund have no appraisal or dissenters’ rights.
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Other Business. The Board of each Selling Fund does not know of any matters to be presented at the Meeting other than the Reorganizations. If other business should properly come before the Meeting, the persons named as proxies will vote thereon in their discretion.
Adjournment. If the quorum required for the Meeting has not been met for any Selling Fund, the persons named as proxies may propose adjournment of the Meeting and vote all shares that they are entitled to vote in favor of such adjournment. If the quorum required for the Meeting has been met, but sufficient votes in favor of one or more proposals are not received by the time scheduled for the Meeting, then the persons named as proxies may move for one or more adjournments of the Meeting as to one or more proposals to allow further solicitation of shareholders. The procedures for adjournment of the Meeting for each Selling Fund are as follows:
• | For Columbia Value and Restructuring Fund, Columbia Large Cap Growth Fund IV and Columbia Multi-Advisor Small Cap Value Fund, the Meeting may be adjourned by a majority of the votes properly cast upon the question, whether or not a quorum is present, and the Meeting may be held as adjourned within a reasonable time after the date set for the original Meeting without further notice. |
• | For Columbia Large Cap Growth Fund II, Columbia Large Cap Growth Fund III, Columbia Large Cap Growth Fund V, Columbia International Value Fund and Columbia International Opportunities Fund, the Meeting may be adjourned, whether or not a quorum is present, by the vote of a majority of the shares represented at the Meeting, either in person or by proxy. If the Meeting is adjourned, notice does not need to be given of the adjourned Meeting date unless a new record date for the adjourned Meeting is set or unless the adjourned Meeting is to take place more than sixty (60) days from the date set for the original Meeting, in which case the Board would be required to set a new record date. |
The persons named as proxies will vote in favor of adjournment with respect to a proposal those shares they are entitled to vote in favor of such proposal. They will vote against any such adjournment those shares they are required to vote against such proposal. The costs of any additional solicitation and of any adjourned Meeting will be borne in the same manner as the other expenses associated with the proposals described herein. Any proposal for which sufficient favorable votes have been received may be acted upon and considered final regardless of whether the Meeting is adjourned to permit additional solicitation with respect to any other proposal.
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SECTION C — CAPITALIZATION, OWNERSHIP OF FUND SHARES AND FINANCIAL HIGHLIGHTS
This section contains the following information about the Buying Funds and the Selling Funds (all information is shown for the most recently ended fiscal year unless otherwise noted):
Table | Content | |
C-1 | Current and pro forma capitalization of each Selling Fund and each Buying Fund | |
C-2 | Current and pro forma ownership of shares of each Selling Fund and each Buying Fund | |
C-3 | Financial highlights of each Buying Fund |
The Funds’ Investment Manager and Distributor. Columbia Management Investment Advisers, LLC, 225 Franklin Street, Boston, MA 02110, is the investment manager for each Fund. Columbia Management Investment Distributors, Inc., 225 Franklin Street, Boston, MA 02110, is the distributor for each Fund.
Capitalization of Selling Funds and Buying Funds
The following table shows the capitalization as of August 31, 2015 for Columbia Value and Restructuring Fund and Columbia Contrarian Core Fund, July 31, 2015 for Columbia Large Cap Growth Fund II, Columbia Large Cap Growth Fund III, Columbia Large Cap Growth Fund IV, Columbia Large Cap Growth Fund V and Columbia Large Cap Growth Fund, November 30, 2015 for Columbia Multi-Advisor Small Cap Value Fund and Columbia Select Smaller Cap Value Fund, and August 31, 2015 for Columbia International Value Fund, Columbia Overseas Value Fund, Columbia International Opportunities Fund and Columbia Select International Equity Fund; and, with respect to each corresponding Buying Fund, on a pro forma basis, assuming the proposed Reorganization had taken place as of that date. The pro forma combined net assets are determined by adding the net assets of the Selling Fund(s) and the net assets of the corresponding Buying Fund. The pro forma combined shares outstanding are determined by dividing the net assets of the Selling Fund(s) by the net asset value per share of the corresponding Buying Fund and adding the actual shares outstanding of the corresponding Buying Fund.
Table C-1. Current and Pro Forma Capitalization of each Selling Fund and each Buying Fund
Fund | Net assets | Net asset value per share | Shares outstanding* | |||||||||
Columbia Value and Restructuring Fund (Selling Fund) | ||||||||||||
Class A | $ | 76,611,151 | $ | 45.18 | 1,695,749 | |||||||
Class C | $ | 25,598,869 | $ | 44.52 | 574,952 | |||||||
Class I | $ | 2,319 | $ | 45.04 | 51 | |||||||
Class R | $ | 8,354,897 | $ | 45.10 | 185,263 | |||||||
Class R4 | $ | 5,336,622 | $ | 46.03 | 115,940 | |||||||
Class R5 | $ | 18,039,275 | $ | 46.05 | 391,767 | |||||||
Class W | $ | 2,325 | $ | 45.16 | 51 | |||||||
Class Y | $ | 1,105,091 | $ | 45.96 | 24,047 | |||||||
Class Z | $ | 1,485,345,729 | $ | 45.15 | 32,896,062 | |||||||
|
|
|
| |||||||||
Total | $ | 1,620,396,278 | 35,883,882 | |||||||||
|
|
|
| |||||||||
Columbia Contrarian Core Fund (Current) (Buying Fund) | ||||||||||||
Class A | $ | 2,297,175,615 | $ | 21.27 | 108,012,045 | |||||||
Class B | $ | 9,551,323 | $ | 19.40 | 492,390 | |||||||
Class C | $ | 409,798,122 | $ | 19.43 | 21,086,724 | |||||||
Class I | $ | 425,920,745 | $ | 21.43 | 19,878,651 | |||||||
Class K | $ | 115,149 | $ | 21.40 | 5,380 | |||||||
Class R | $ | 50,047,986 | $ | 21.26 | 2,353,728 | |||||||
Class R4 | $ | 227,941,150 | $ | 21.74 | 10,486,234 | |||||||
Class R5 | $ | 336,042,780 | $ | 21.73 | 15,461,189 | |||||||
Class T | $ | 143,303,896 | $ | 21.08 | 6,796,973 | |||||||
Class W | $ | 118,262,234 | $ | 21.27 | 5,560,213 | |||||||
Class Y | $ | 53,246,409 | $ | 21.75 | 2,448,637 | |||||||
Class Z | $ | 2,119,278,368 | $ | 21.42 | 98,945,158 | |||||||
|
|
|
| |||||||||
Total | $ | 6,190,683,777 | 291,527,322 | |||||||||
|
|
|
|
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Fund | Net assets | Net asset value per share | Shares outstanding* | |||||||||
Columbia Contrarian Core Fund (Pro Forma Combined)** | ||||||||||||
Class A | $ | 2,373,764,531 | $ | 21.27 | 111,612,901 | |||||||
Class B | $ | 9,551,318 | $ | 19.40 | 492,390 | |||||||
Class C | $ | 435,389,763 | $ | 19.43 | 22,403,856 | |||||||
Class I | $ | 425,922,822 | $ | 21.43 | 19,878,759 | |||||||
Class K | $ | 115,149 | $ | 21.40 | 5,380 | |||||||
Class R | $ | 58,400,572 | $ | 21.26 | 2,746,607 | |||||||
Class R4 | $ | 233,276,185 | $ | 21.74 | 10,731,642 | |||||||
Class R5 | $ | 354,076,935 | $ | 21.73 | 16,291,117 | |||||||
Class T | $ | 143,303,815 | $ | 21.08 | 6,796,973 | |||||||
Class W | $ | 118,264,491 | $ | 21.27 | 5,560,322 | |||||||
Class Y | $ | 54,351,168 | $ | 21.75 | 2,499,432 | |||||||
Class Z | $ | 3,604,216,985 | $ | 21.42 | 168,270,079 | |||||||
|
|
|
| |||||||||
Total | $ | 7,810,633,734 | 367,289,458 | |||||||||
|
|
|
| |||||||||
Columbia Large Cap Growth Fund II (Selling Fund) | ||||||||||||
Class A | $ | 474,864,119 | $ | 22.10 | 21,490,280 | |||||||
Class B | $ | 19,164,082 | $ | 19.91 | 962,470 | |||||||
Class C | $ | 244,172,442 | $ | 19.91 | 12,264,181 | |||||||
Class R | $ | 19,710,660 | $ | 21.69 | 908,682 | |||||||
Class R4 | $ | 1,348,920 | $ | 23.17 | 58,209 | |||||||
Class R5 | $ | 363,141 | $ | 22.84 | 15,900 | |||||||
Class Z | $ | 221,012,122 | $ | 22.79 | 9,698,168 | |||||||
|
|
|
| |||||||||
Total | $ | 980,635,486 | 45,397,890 | |||||||||
|
|
|
| |||||||||
Columbia Large Cap Growth Fund III (Selling Fund) | ||||||||||||
Class A | $ | 501,872,050 | $ | 19.90 | 25,215,230 | |||||||
Class B | $ | 4,273,772 | $ | 15.97 | 267,607 | |||||||
Class C | $ | 216,321,150 | $ | 16.09 | 13,446,663 | |||||||
Class I | $ | 2,559 | $ | 21.08 | 121 | |||||||
Class R4 | $ | 19,424,393 | $ | 21.33 | 910,848 | |||||||
Class R5 | $ | 7,379,929 | $ | 21.42 | 344,528 | |||||||
Class Z | $ | 266,207,168 | $ | 20.88 | 12,749,682 | |||||||
|
|
|
| |||||||||
Total | $ | 1,015,481,021 | 52,934,679 | |||||||||
|
|
|
| |||||||||
Columbia Large Cap Growth Fund IV (Selling Fund) | ||||||||||||
Class A | $ | 85,176,393 | $ | 15.19 | 5,607,183 | |||||||
Class C | $ | 26,767,764 | $ | 14.70 | 1,820,649 | |||||||
Class I | $ | 2,480 | $ | 15.26 | 162 | |||||||
Class R | $ | 802,810 | $ | 14.95 | 53,704 | |||||||
Class R4 | $ | 1,527,636 | $ | 15.16 | 100,781 | |||||||
Class R5 | $ | 976,915 | $ | 15.46 | 63,210 | |||||||
Class Z | $ | 67,596,957 | $ | 15.32 | 4,412,135 | |||||||
|
|
|
| |||||||||
Total | $ | 182,850,955 | 12,057,824 | |||||||||
|
|
|
| |||||||||
Columbia Large Cap Growth Fund V (Current) (Selling Fund) | ||||||||||||
Class A | $ | 406,496,799 | $ | 22.67 | 17,928,334 | |||||||
Class B | $ | 2,815,108 | $ | 19.11 | 147,324 | |||||||
Class C | $ | 275,781,810 | $ | 19.15 | 14,398,688 | |||||||
Class I | $ | 2,286 | $ | 23.47 | 97 | |||||||
Class R | $ | 23,101,760 | $ | 22.14 | 1,043,292 | |||||||
Class R4 | $ | 25,316,877 | $ | 23.83 | 1,062,233 | |||||||
Class R5 | $ | 12,161,544 | $ | 23.85 | 509,950 | |||||||
Class W | $ | 2,331 | $ | 22.69 | 103 | |||||||
Class Z | $ | 763,041,297 | $ | 23.38 | 32,640,369 | |||||||
|
|
|
| |||||||||
Total | $ | 1,508,719,812 | 67,730,390 | |||||||||
|
|
|
|
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Fund | Net assets | Net asset value per share | Shares outstanding* | |||||||||
Columbia Large Cap Growth Fund (Current) (Buying Fund) | ||||||||||||
Class A | $ | 1,870,451,775 | $ | 37.69 | 49,630,575 | |||||||
Class B | $ | 17,337,835 | $ | 33.08 | 524,148 | |||||||
Class C | $ | 85,723,737 | $ | 33.11 | 2,589,047 | |||||||
Class E | $ | 16,539,470 | $ | 37.60 | 439,832 | |||||||
Class F | $ | 870,995 | $ | 33.07 | 26,335 | |||||||
Class I | $ | 179,141,522 | $ | 38.81 | 4,615,738 | |||||||
Class K | $ | 176,190 | $ | 38.68 | 4,555 | |||||||
Class R | $ | 5,421,229 | $ | 37.60 | 144,193 | |||||||
Class R4 | $ | 6,506,293 | $ | 39.49 | 164,779 | |||||||
Class R5 | $ | 3,879,453 | $ | 38.77 | 100,061 | |||||||
Class T | $ | 197,025,572 | $ | 37.41 | 5,266,830 | |||||||
Class W | $ | 144,249,901 | $ | 37.75 | 3,820,807 | |||||||
Class Y | $ | 2,750,046 | $ | 38.83 | 70,820 | |||||||
Class Z | $ | 1,049,379,822 | $ | 38.79 | 27,051,842 | |||||||
|
|
|
| |||||||||
Total | $ | 3,579,453,840 | 94,449,562 | |||||||||
|
|
|
| |||||||||
Columbia Large Cap Growth Fund (Pro Forma Combined) | ||||||||||||
Class A | $ | 3,338,735,225 | $ | 37.69 | 88,587,450 | |||||||
Class B | $ | 43,590,068 | $ | 33.08 | 1,317,747 | |||||||
Class C | $ | 848,703,599 | $ | 33.11 | 25,632,838 | |||||||
Class E | $ | 16,539,460 | $ | 37.60 | 439,832 | |||||||
Class F | $ | 870,994 | $ | 33.07 | 26,335 | |||||||
Class I | $ | 179,148,733 | $ | 38.81 | 4,615,927 | |||||||
Class K | $ | 176,190 | $ | 38.68 | 4,555 | |||||||
Class R | $ | 49,033,172 | $ | 37.60 | 1,304,085 | |||||||
Class R4 | $ | 54,118,677 | $ | 39.49 | 1,370,461 | |||||||
Class R5 | $ | 24,758,442 | $ | 38.77 | 638,596 | |||||||
Class T | $ | 197,025,448 | $ | 37.41 | 5,266,830 | |||||||
Class W | $ | 144,252,141 | $ | 37.75 | 3,820,869 | |||||||
Class Y | $ | 2,750,044 | $ | 38.83 | 70,820 | |||||||
Class Z | $ | 2,367,091,496 | $ | 38.79 | 61,022,255 | |||||||
|
|
|
| |||||||||
Total | $ | 7,266,793,689 | 194,118,600 | |||||||||
|
|
|
| |||||||||
Columbia Multi-Advisor Small Cap Value Fund (Selling Fund) | ||||||||||||
Class A | $ | 260,248,390 | $ | 6.61 | 39,345,813 | |||||||
Class B | $ | 3,086,401 | $ | 5.72 | 539,238 | |||||||
Class C | $ | 9,142,946 | $ | 5.75 | 1,590,875 | |||||||
Class I | $ | 21,882,421 | $ | 7.08 | 3,089,116 | |||||||
Class K | $ | 1,068,586 | $ | 6.84 | 156,207 | |||||||
Class R | $ | 6,087,768 | $ | 6.51 | 935,806 | |||||||
Class R4 | $ | 9,091,482 | $ | 6.75 | 1,346,564 | |||||||
Class R5 | $ | 20,786,832 | $ | 6.96 | 2,984,502 | |||||||
Class Y | $ | 2,698 | $ | 6.98 | 386 | |||||||
Class Z | $ | 8,368,080 | $ | 7.02 | 1,192,684 | |||||||
|
|
|
| |||||||||
Total | $ | 339,765,604 | 51,181,191 | |||||||||
|
|
|
|
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Fund | Net assets | Net asset value per share | Shares outstanding* | |||||||||
Columbia Select Smaller-Cap Value Fund (Current) (Buying Fund) | ||||||||||||
Class A | $ | 372,597,194 | $ | 20.49 | 18,186,123 | |||||||
Class B | $ | 2,899,095 | $ | 16.50 | 175,650 | |||||||
Class C | $ | 40,293,919 | $ | 16.53 | 2,437,267 | |||||||
Class I | $ | 19,259,383 | $ | 22.83 | 843,475 | |||||||
Class K | $ | 6,936,206 | $ | 22.33 | 310,570 | |||||||
Class R | $ | 11,106,714 | $ | 19.61 | 566,461 | |||||||
Class R4 | $ | 1,581,263 | $ | 22.82 | 69,286 | |||||||
Class R5 | $ | 3,738,883 | $ | 22.73 | 164,485 | |||||||
Class Y | $ | 2,518 | $ | 23.28 | 108 | |||||||
Class Z | $ | 21,288,901 | $ | 22.55 | 944,208 | |||||||
|
|
|
| |||||||||
Total | $ | 479,704,076 | 23,697,633 | |||||||||
|
|
|
| |||||||||
Columbia Select Smaller-Cap Value Fund (Pro Forma Combined)** | ||||||||||||
Class A | $ | 632,716,063 | $ | 20.49 | 30,881,174 | |||||||
Class B | $ | 5,983,971 | $ | 16.50 | 362,613 | |||||||
Class C | $ | 49,432,116 | $ | 16.53 | 2,990,110 | |||||||
Class I | $ | 41,131,001 | $ | 22.83 | 1,801,502 | |||||||
Class K | $ | 8,004,220 | $ | 22.33 | 358,401 | |||||||
Class R | $ | 17,191,435 | $ | 19.61 | 876,752 | |||||||
Class R4 | $ | 10,668,303 | $ | 22.82 | 467,492 | |||||||
Class R5 | $ | 24,515,560 | $ | 22.73 | 1,078,550 | |||||||
Class Y | $ | 5,215 | $ | 23.28 | 224 | |||||||
Class Z | $ | 29,652,749 | $ | 22.55 | 1,315,117 | |||||||
|
|
|
| |||||||||
Total | $ | 819,300,633 | 40,131,935 | |||||||||
|
|
|
| |||||||||
Columbia International Value Fund (Selling Fund) | ||||||||||||
Class A | $ | 71,559,757 | $ | 14.00 | 5,110,152 | |||||||
Class B | $ | 180,774 | $ | 13.41 | 13,480 | |||||||
Class C | $ | 20,255,487 | $ | 13.36 | 1,515,817 | |||||||
Class I | $ | 2,257 | $ | 13.59 | 166 | |||||||
Class R | $ | 227,472 | $ | 14.00 | 16,245 | |||||||
Class R4 | $ | 2,879,675 | $ | 14.33 | 200,960 | |||||||
Class R5 | $ | 4,547,121 | $ | 14.32 | 317,528 | |||||||
Class Z | $ | 72,466,648 | $ | 14.19 | 5,108,261 | |||||||
|
|
|
| |||||||||
Total | $ | 172,119,191 | 12,282,609 | |||||||||
|
|
|
| |||||||||
Columbia Overseas Value Fund (Current) (Buying Fund) | ||||||||||||
Class A | $ | 183,258,255 | $ | 8.38 | 21,855,891 | |||||||
Class B | $ | 2,961,946 | $ | 8.34 | 355,056 | |||||||
Class C | $ | 4,683,311 | $ | 8.34 | 561,387 | |||||||
Class I | $ | 297,542,974 | $ | 8.40 | 35,401,984 | |||||||
Class K | $ | 144,682 | $ | 8.39 | 17,237 | |||||||
Class R | $ | — | $ | — | — | |||||||
Class R4 | $ | 2,381 | $ | 8.36 | 285 | |||||||
Class R5 | $ | 2,382 | $ | 8.36 | 285 | |||||||
Class W | $ | 149,246,934 | $ | 8.38 | 17,814,065 | |||||||
Class Y | $ | 2,382 | $ | 8.37 | 285 | |||||||
Class Z | $ | 569,724 | $ | 8.40 | 67,823 | |||||||
|
|
|
| |||||||||
Total | $ | 638,414,971 | 76,074,298 | |||||||||
|
|
|
|
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Fund | Net assets | Net asset value per share | Shares outstanding* | |||||||||
Columbia Overseas Value Fund (Pro Forma | ||||||||||||
Class A | $ | 254,762,690 | $ | 8.38 | 30,388,760 | |||||||
Class B | $ | 3,142,567 | $ | 8.34 | 376,715 | |||||||
Class C | $ | 24,923,397 | $ | 8.34 | 2,988,259 | |||||||
Class I | $ | 297,543,598 | $ | 8.40 | 35,402,252 | |||||||
Class K | $ | 144,681 | $ | 8.39 | 17,237 | |||||||
Class R | $ | 227,299 | $ | 8.38 | 27,124 | |||||||
Class R4 | $ | 2,879,870 | $ | 8.36 | 344,482 | |||||||
Class R5 | $ | 4,546,052 | $ | 8.36 | 543,786 | |||||||
Class W | $ | 149,246,116 | $ | 8.38 | 17,814,065 | |||||||
Class Y | $ | 2,382 | $ | 8.37 | 285 | |||||||
Class Z | $ | 72,981,363 | $ | 8.40 | 8,688,257 | |||||||
|
|
|
| |||||||||
Total | $ | 810,400,015 | 96,591,222 | |||||||||
|
|
|
| |||||||||
Columbia International Opportunities Fund (Selling Fund) | ||||||||||||
Class A | $ | 38,008,829 | $ | 13.06 | 2,910,281 | |||||||
Class B | $ | 1,054,535 | $ | 11.99 | 87,918 | |||||||
Class C | $ | 10,245,147 | $ | 12.00 | 853,606 | |||||||
Class I | $ | 29,775,701 | $ | 13.57 | 2,194,820 | |||||||
Class R | $ | 596,900 | $ | 12.90 | 46,274 | |||||||
Class R4 | $ | 211,800 | $ | 13.48 | 15,712 | |||||||
Class Z | $ | 26,392,980 | $ | 13.41 | 1,968,720 | |||||||
|
|
|
| |||||||||
Total | $ | 106,285,892 | 8,077,331 | |||||||||
|
|
|
| |||||||||
Columbia Select International Equity Fund (Current) (Buying Fund) | ||||||||||||
Class A | $ | 248,620,168 | $ | 12.94 | 19,216,801 | |||||||
Class B | $ | 1,475,278 | $ | 11.51 | 128,122 | |||||||
Class C | $ | 9,860,996 | $ | 11.37 | 866,980 | |||||||
Class I | $ | 2,611 | $ | 13.29 | 196 | |||||||
Class K | $ | 62,697 | $ | 13.19 | 4,755 | |||||||
Class R | $ | 1,339,275 | $ | 12.86 | 104,183 | |||||||
Class R4 | $ | 9,108 | $ | 13.28 | 686 | |||||||
Class R5 | $ | 38,522 | $ | 13.34 | 2,889 | |||||||
Class W | $ | 175,102,867 | $ | 12.94 | 13,531,315 | |||||||
Class Y | $ | 14,745,024 | $ | 13.30 | 1,108,509 | |||||||
Class Z | $ | 90,758,627 | $ | 13.20 | 6,873,493 | |||||||
|
|
|
| |||||||||
Total | $ | 542,015,173 | 41,837,929 | |||||||||
|
|
|
| |||||||||
Columbia Select International Equity Fund (Pro Forma Combined)** | ||||||||||||
Class A | $ | 286,627,019 | $ | 12.94 | 22,154,016 | |||||||
Class B | $ | 2,529,774 | $ | 11.51 | 219,738 | |||||||
Class C | $ | 20,105,772 | $ | 11.37 | 1,768,018 | |||||||
Class I | $ | 29,777,316 | $ | 13.29 | 2,240,580 | |||||||
Class K | $ | 62,697 | $ | 13.19 | 4,755 | |||||||
Class R | $ | 1,936,151 | $ | 12.85 | 150,633 | |||||||
Class R4 | $ | 220,901 | $ | 13.28 | 16, 634 | |||||||
Class R5 | $ | 38,522 | $ | 13.34 | 2,889 | |||||||
Class W | $ | 175,102,370 | $ | 12.94 | 13,531,315 | |||||||
Class Y | $ | 14,744,982 | $ | 13.30 | 1,108,509 | |||||||
Class Z | $ | 117,150,467 | $ | 13.20 | 8,872,894 | |||||||
|
|
|
| |||||||||
Total | $ | 648,295,971 | 50,069,981 | |||||||||
|
|
|
|
* | Pro forma shares outstanding are calculated by dividing the net assets of the applicable Selling Fund by the net asset value per share of the corresponding Buying Fund and adding the result to the number of shares of such Buying Fund currently outstanding. |
** | Pro forma figures reflect the effect of estimated Reorganization costs as set forth in Exhibit A hereto. |
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Ownership of Selling Fund and Buying Fund Shares
The following table provides information on each person who may be deemed to be a “control person” (as that term is defined in the 1940 Act) of a Fund as of November 30, 2015 because it owns, directly or indirectly, of record more than 25% of the outstanding shares of the Fund, by virtue of its fiduciary roles with respect to its clients or otherwise. A control person may be able to facilitate shareholder approval of proposals it favors and to impede shareholder approval of proposals it opposes. In this regard, if a control person owns a sufficient number of a Fund’s outstanding shares, then, for certain shareholder proposals, such control person may be able to approve, or to prevent approval, of such proposals without regard to votes by other Fund shareholders.
Fund | Shareholder Account Registration | Percentage of Fund | Percentage of Fund following Reorganization | |||||||
Columbia Value and Restructuring Fund (Selling Fund) | Charles Schwab & Co Inc. | 33.81 | % | N/A | ||||||
Columbia Contrarian Core Fund (Buying Fund) | Charles Schwab & Co Inc. | N/A | 7.77 | % | ||||||
Columbia Large Cap Growth Fund II (Selling Fund) | N/A | N/A | N/A | |||||||
Columbia Large Cap Growth Fund III (Selling Fund) | Merrill Lynch Pierce Fenner & Smith | 34.31 | % | N/A | ||||||
Columbia Large Cap Growth Fund IV (Selling Fund) | American Enterprise Investment Services | 42.47 | % | N/A | ||||||
Charles Schwab & Co Inc. | 33.27 | % | N/A | |||||||
Columbia Large Cap Growth Fund V (Selling Fund) | N/A | N/A | N/A | |||||||
Columbia Large Cap Growth Fund (Buying Fund) | American Enterprise Investment Services | N/A | 12.48 | % | ||||||
Charles Schwab & Co Inc. | N/A | 3.07 | % | |||||||
Merrill Lynch Pierce Fenner & Smith | N/A | 16.86 | % | |||||||
Columbia Multi-Advisor Small Cap Value Fund (Selling Fund) | American Enterprise Investment Services | 31.23 | % | N/A | ||||||
Columbia Select Smaller-Cap Value Fund (Buying Fund) | American Enterprise Investment Services | N/A | 27.34 | % | ||||||
Columbia International Value Fund (Selling Fund) | N/A | N/A | N/A | |||||||
Columbia Overseas Value Fund (Buying Fund) | American Enterprise Investment Services | 37.17 | % | 30.25 | % | |||||
Affiliated Funds-of-Funds Aggregate Ownership(1)(2) | 43.64 | % | 33.81 | % | ||||||
Columbia International Opportunities Fund (Selling Fund) | Affiliated Funds-of-Funds Aggregate Ownership(1)(2) | 26.27 | % | N/A | ||||||
Columbia Select International Equity Fund (Buying Fund) | American Enterprise Investment Services | 45.34 | % | 39.14 | % | |||||
Affiliated Funds-of-Funds Aggregate Ownership(1)(2) | N/A | 4.36 | % |
(1) | Includes the aggregate ownership of the following affiliated funds of funds: Columbia Capital Allocation Aggressive Portfolio, Columbia Capital Allocation Moderate Aggressive Portfolio, Columbia Capital Allocation Moderate Conservative Portfolio, Columbia Capital Allocation Moderate Portfolio and Columbia Global Strategic Equity Fund. |
(2) | Investments by funds-of-funds advised by Columbia Threadneedle (Columbia Funds-of-Funds) in shares of certain underlying funds (underlying funds) may represent significant ownership positions in such underlying funds. The Columbia Funds-of-Funds generally vote on underlying fund proposals in the same proportion that other shareholders vote on such proposals except where the Board(s) of Trustees of the Columbia Funds-of-Funds direct otherwise, including, for example, where the Columbia Funds-of-Funds own, in aggregate, a majority position of the underlying fund. |
The following table provides information on shareholders who owned of record or, to the knowledge of the Fund, beneficially, more than 5% of any class of a Fund’s outstanding shares as of [November 30, 2015]. As of November 30, 2015, the officers and directors/trustees of each Fund, as a group, owned less than 1% of the outstanding shares of each class of such Fund.
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Table C-2. Current Ownership of Fund Shares
Fund | 5% Owners | Percent of shares held | Percent of shares held following the Reorganization | |||
Columbia Value and Restructuring Fund (Selling Fund) | ||||||
Class A | ||||||
Class B | ||||||
Class C | ||||||
Class I | ||||||
Class R | ||||||
Class R4 | ||||||
Class R5 | ||||||
Class W | ||||||
Class Y | ||||||
Class Z | ||||||
Columbia Contrarian Core Fund (Buying Fund) | ||||||
Class A | ||||||
Class B | ||||||
Class C | ||||||
Class I | ||||||
Class K | ||||||
Class R | ||||||
Class R4 | ||||||
Class R5 | ||||||
Class T | ||||||
Class W | ||||||
Class Y | ||||||
Class Z | ||||||
Columbia Large Cap Growth Fund II (Selling Fund) | ||||||
Class A | ||||||
Class B | ||||||
Class C | ||||||
Class R | ||||||
Class R4 | ||||||
Class R5 | ||||||
Class Z | ||||||
Columbia Large Cap Growth Fund III (Selling Fund) | ||||||
Class A | ||||||
Class B | ||||||
Class C | ||||||
Class I | ||||||
Class R4 | ||||||
Class R5 | ||||||
Class Z | ||||||
Columbia Large Cap Growth Fund IV (Selling Fund) | ||||||
Class A | ||||||
Class C | ||||||
Class I | ||||||
Class R | ||||||
Class R4 | ||||||
Class R5 | ||||||
Class Z |
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Fund | 5% Owners | Percent of shares held | Percent of shares held following the Reorganization | |||
Columbia Large Cap Growth Fund V (Selling Fund) | ||||||
Class A | ||||||
Class B | ||||||
Class C | ||||||
Class I | ||||||
Class R | ||||||
Class R4 | ||||||
Class R5 | ||||||
Class W | ||||||
Class Z | ||||||
Columbia Large Cap Growth Fund (Buying Fund) | ||||||
Class A | ||||||
Class B | ||||||
Class C | ||||||
Class E | ||||||
Class F | ||||||
Class I | ||||||
Class K | ||||||
Class R | ||||||
Class R4 | ||||||
Class R5 | ||||||
Class T | ||||||
Class W | ||||||
Class Y | ||||||
Class Z | ||||||
Columbia Multi-Advisor Small Cap Value Fund (Selling Fund) | ||||||
Class A | ||||||
Class B | ||||||
Class C | ||||||
Class I | ||||||
Class K | ||||||
Class R | ||||||
Class R4 | ||||||
Class R5 | ||||||
Class Y | ||||||
Class Z | ||||||
Columbia Select Smaller-Cap Value Fund (Buying Fund) | ||||||
Class A | ||||||
Class B | ||||||
Class C | ||||||
Class I | ||||||
Class K | ||||||
Class R |
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Fund | 5% Owners | Percent of shares held | Percent of shares held following the Reorganization | |||
Class R4 | ||||||
Class R5 | ||||||
Class Y | ||||||
Class Z | ||||||
Columbia International Value Fund (Selling Fund) | ||||||
Class A | ||||||
Class B | ||||||
Class C | ||||||
Class I | ||||||
Class R | ||||||
Class R4 | ||||||
Class R5 | ||||||
Class Z | ||||||
Columbia Overseas Value Fund (Buying Fund) | ||||||
Class A | ||||||
Class B | ||||||
Class C | ||||||
Class I | ||||||
Class K | ||||||
Class R | ||||||
Class R4 | ||||||
Class R5 | ||||||
Class W | ||||||
Class Y | ||||||
Class Z | ||||||
Columbia International Opportunities Fund (Selling Fund) | ||||||
Class A | ||||||
Class B | ||||||
Class C | ||||||
Class I | ||||||
Class R | ||||||
Class R4 | ||||||
Class Z | ||||||
Columbia Select International Equity Fund (Buying Fund) | ||||||
Class A | ||||||
Class B | ||||||
Class C | ||||||
Class I | ||||||
Class K | ||||||
Class R | ||||||
Class R4 | ||||||
Class R5 | ||||||
Class W | ||||||
Class Y | ||||||
Class Z |
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Table C-3. Financial Highlights of Buying Funds
The financial highlights tables below are designed to help you understand how each Buying Fund has performed for the past five full fiscal years or, if shorter, the Buying Fund’s period of operations. Certain information reflects financial results for a single Buying Fund share. The total return line indicates how much an investment in the Buying Fund would have earned each period assuming any dividends and distributions had been reinvested. Total returns do not reflect payment of sales charges, if any.
The information shown below for each Buying Fund has been audited by PricewaterhouseCoopers LLP, except that the information shown for the six-month period ended August 31, 2015 is unaudited. The auditor is an independent registered public accounting firm, whose reports, along with the Buying Funds’ financial statements, are included in the Buying Funds’ annual report to shareholders. The independent registered public accounting firms’ reports and the Buying Funds’ financial statements are also incorporated by reference into the Merger SAI. Per share net investment income (loss) amounts are calculated based on average shares outstanding during the period. The total return line indicates how much an investment of a Buying Fund would have earned or lost each period assuming all dividends and distributions had been reinvested. Total returns do not reflect payment of sales charges, if any, and are not annualized for periods less than one year.
Financial Highlights — Columbia Contrarian Core Fund
Year Ended August 31, | Year Ended September 30, | |||||||||||||||||||||||
Class A | 2015 | 2014 | 2013 | 2012(a) | 2011 | 2010 | ||||||||||||||||||
Per share data | ||||||||||||||||||||||||
Net asset value, beginning of period | $ | 22.37 | $ | 19.15 | $ | 15.68 | $ | 12.63 | $ | 12.61 | $ | 11.76 | ||||||||||||
Income from investment operations: | ||||||||||||||||||||||||
Net investment income | 0.65 | (g) | 0.14 | 0.13 | 0.11 | 0.08 | 0.04 | |||||||||||||||||
Net realized and unrealized gain (loss) | (0.23 | ) | 4.32 | 3.48 | 3.32 | (0.03 | ) | 0.87 | ||||||||||||||||
Total from investment operations | 0.42 | 4.46 | 3.61 | 3.43 | 0.05 | 0.91 | ||||||||||||||||||
Less distributions to shareholders: | ||||||||||||||||||||||||
Net investment income | (0.10 | ) | (0.11 | ) | (0.12 | ) | (0.07 | ) | (0.03 | ) | (0.06 | ) | ||||||||||||
Net realized gains | (1.42 | ) | (1.13 | ) | (0.02 | ) | (0.31 | ) | — | — | ||||||||||||||
Total distributions to shareholders | (1.52 | ) | (1.24 | ) | (0.14 | ) | (0.38 | ) | (0.03 | ) | (0.06 | ) | ||||||||||||
Net asset value, end of period | $ | 21.27 | $ | 22.37 | $ | 19.15 | $ | 15.68 | $ | 12.63 | $ | 12.61 | ||||||||||||
Total return | 1.99 | % | 24.15 | % | 23.23 | % | 27.59 | % | 0.39 | % | 7.75 | % | ||||||||||||
Ratios to average net assets(b) | ||||||||||||||||||||||||
Total gross expenses | 1.09 | % | 1.11 | % | 1.15 | % | 1.19 | %(c) | 1.19 | %(d) | 1.25 | % | ||||||||||||
Total net expenses(e) | 1.09 | %(f) | 1.11 | %(f) | 1.14 | %(f) | 1.16 | %(c)(f) | 1.16 | %(d)(f) | 1.19 | %(f) | ||||||||||||
Net investment income | 2.93 | % | 0.69 | % | 0.73 | % | 0.82 | %(c) | 0.56 | % | 0.32 | % | ||||||||||||
Supplemental data | ||||||||||||||||||||||||
Net assets, end of period (in thousands) | $ | 2,297,176 | $ | 1,659,841 | $ | 913,212 | $ | 588,182 | $ | 427,039 | $ | 111,182 | ||||||||||||
Portfolio turnover | 60 | % | 65 | % | 47 | % | 62 | % | 78 | % | 94 | % |
Notes to Financial Highlights
(a) | For the period from October 1, 2011 to August 31, 2012. During the period, the Fund’s fiscal year end was changed from September 30 to August 31. |
(b) | In addition to the fees and expenses that the Fund bears directly, the Fund indirectly bears a pro rata share of the fees and expenses of any other funds in which it invests. Such indirect expenses are not included in the Fund’s reported expense ratios. |
(c) | Annualized. |
(d) | Ratios include line of credit interest expense which is less than 0.01%. |
(e) | Total net expenses include the impact of certain fee waivers/expense reimbursements made by the Investment Manager and certain of its affiliates, if applicable. |
(f) | The benefits derived from expense reductions had an impact of less than 0.01%. |
(g) | Net investment income per share includes special dividends. The effect of these dividends amounted to $0.54 per share. |
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Financial Highlights — Columbia Contrarian Core Fund
Year Ended August 31, | Year Ended September 30, | |||||||||||||||||||||||
Class B | 2015 | 2014 | 2013 | 2012(a) | 2011 | 2010 | ||||||||||||||||||
Per share data | ||||||||||||||||||||||||
Net asset value, beginning of period | $ | 20.58 | $ | 17.74 | $ | 14.53 | $ | 11.74 | $ | 11.78 | $ | 11.02 | ||||||||||||
Income from investment operations: | ||||||||||||||||||||||||
Net investment income (loss) | 0.29 | (h) | (0.01 | ) | (0.00 | )(b) | 0.01 | (0.03 | ) | (0.05 | ) | |||||||||||||
Net realized and unrealized gain (loss) | (0.05 | ) | 3.98 | 3.24 | 3.09 | (0.01 | ) | 0.81 | ||||||||||||||||
Total from investment operations | 0.24 | 3.97 | 3.24 | 3.10 | (0.04 | ) | 0.76 | |||||||||||||||||
Less distributions to shareholders: | ||||||||||||||||||||||||
Net investment income | — | — | (0.01 | ) | — | — | — | |||||||||||||||||
Net realized gains | (1.42 | ) | (1.13 | ) | (0.02 | ) | (0.31 | ) | — | — | ||||||||||||||
Total distributions to shareholders | (1.42 | ) | (1.13 | ) | (0.03 | ) | (0.31 | ) | — | — | ||||||||||||||
Net asset value, end of period | $ | 19.40 | $ | 20.58 | $ | 17.74 | $ | 14.53 | $ | 11.74 | $ | 11.78 | ||||||||||||
Total return | 1.22 | % | 23.20 | % | 22.32 | % | 26.72 | % | (0.34 | %) | 6.90 | % | ||||||||||||
Ratios to average net assets(c) | ||||||||||||||||||||||||
Total gross expenses | 1.84 | % | 1.86 | % | 1.90 | % | 1.94 | %(d) | 1.92 | %(e) | 2.00 | % | ||||||||||||
Total net expenses(f) | 1.84 | %(g) | 1.86 | %(g) | 1.89 | %(g) | 1.91 | %(d)(g) | 1.90 | %(e)(g) | 1.94 | %(g) | ||||||||||||
Net investment income (loss) | 1.40 | % | (0.08 | %) | (0.02 | %) | 0.05 | %(d) | (0.19 | %) | (0.46 | %) | ||||||||||||
Supplemental data | ||||||||||||||||||||||||
Net assets, end of period (in thousands) | $ | 9,551 | $ | 14,023 | $ | 16,396 | $ | 17,292 | $ | 21,560 | $ | 3,991 | ||||||||||||
Portfolio turnover | 60 | % | 65 | % | 47 | % | 62 | % | 78 | % | 94 | % |
Notes to Financial Highlights
(a) | For the period from October 1, 2011 to August 31, 2012. During the period, the Fund’s fiscal year end was changed from September 30 to August 31. |
(b) | Rounds to zero. |
(c) | In addition to the fees and expenses that the Fund bears directly, the Fund indirectly bears a pro rata share of the fees and expenses of any other funds in which it invests. Such indirect expenses are not included in the Fund’s reported expense ratios. |
(d) | Annualized. |
(e) | Ratios include line of credit interest expense which is less than 0.01%. |
(f) | Total net expenses include the impact of certain fee waivers/expense reimbursements made by the Investment Manager and certain of its affiliates, if applicable. |
(g) | The benefits derived from expense reductions had an impact of less than 0.01%. |
(h) | Net investment income per share includes special dividends. The effect of these dividends amounted to $0.35 per share. |
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Financial Highlights — Columbia Contrarian Core Fund
Year Ended August 31, | Year Ended September 30, | |||||||||||||||||||||||
Class C | 2015 | 2014 | 2013 | 2012(a) | 2011 | 2010 | ||||||||||||||||||
Per share data | ||||||||||||||||||||||||
Net asset value, beginning of period | $ | 20.62 | $ | 17.77 | $ | 14.55 | $ | 11.76 | $ | 11.80 | $ | 11.03 | ||||||||||||
Income from investment operations: | ||||||||||||||||||||||||
Net investment income (loss) | 0.50 | (h) | (0.01 | ) | (0.00 | )(b) | 0.01 | (0.03 | ) | (0.05 | ) | |||||||||||||
Net realized and unrealized gain (loss) | (0.27 | ) | 3.99 | 3.25 | 3.09 | (0.01 | ) | 0.82 | ||||||||||||||||
Total from investment operations | 0.23 | 3.98 | 3.25 | 3.10 | (0.04 | ) | 0.77 | |||||||||||||||||
Less distributions to shareholders: | ||||||||||||||||||||||||
Net investment income | — | — | (0.01 | ) | — | — | — | |||||||||||||||||
Net realized gains | (1.42 | ) | (1.13 | ) | (0.02 | ) | (0.31 | ) | — | — | ||||||||||||||
Total distributions to shareholders | (1.42 | ) | (1.13 | ) | (0.03 | ) | (0.31 | ) | — | — | ||||||||||||||
Net asset value, end of period | $ | 19.43 | $ | 20.62 | $ | 17.77 | $ | 14.55 | $ | 11.76 | $ | 11.80 | ||||||||||||
Total return | 1.17 | % | 23.22 | % | 22.36 | % | 26.68 | % | (0.34 | %) | 6.98 | % | ||||||||||||
Ratios to average net assets(c) | ||||||||||||||||||||||||
Total gross expenses | 1.85 | % | 1.86 | % | 1.90 | % | 1.94 | %(d) | 1.95 | %(e) | 2.00 | % | ||||||||||||
Total net expenses(f) | 1.85 | %(g) | 1.86 | %(g) | 1.89 | %(g) | 1.91 | %(d)(g) | 1.92 | %(e)(g) | 1.94 | %(g) | ||||||||||||
Net investment income (loss) | 2.46 | % | (0.06 | %) | (0.02 | %) | 0.07 | %(d) | (0.22 | %) | (0.44 | %) | ||||||||||||
Supplemental data | ||||||||||||||||||||||||
Net assets, end of period (in thousands) | $ | 409,798 | $ | 222,834 | $ | 115,940 | $ | 58,257 | $ | 36,559 | $ | 18,368 | ||||||||||||
Portfolio turnover | 60 | % | 65 | % | 47 | % | 62 | % | 78 | % | 94 | % |
Notes to Financial Highlights
(a) | For the period from October 1, 2011 to August 31, 2012. During the period, the Fund’s fiscal year end was changed from September 30 to August 31. |
(b) | Rounds to zero. |
(c) | In addition to the fees and expenses that the Fund bears directly, the Fund indirectly bears a pro rata share of the fees and expenses of any other funds in which it invests. Such indirect expenses are not included in the Fund’s reported expense ratios. |
(d) | Annualized. |
(e) | Ratios include line of credit interest expense which is less than 0.01%. |
(f) | Total net expenses include the impact of certain fee waivers/expense reimbursements made by the Investment Manager and certain of its affiliates, if applicable. |
(g) | The benefits derived from expense reductions had an impact of less than 0.01%. |
(h) | Net investment income per share includes special dividends. The effect of these dividends amounted to $0.55 per share. |
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Financial Highlights — Columbia Contrarian Core Fund
Year Ended August 31, | Year Ended September 30, | |||||||||||||||||||||||
Class I | 2015 | 2014 | 2013 | 2012(a) | 2011 | 2010(b) | ||||||||||||||||||
Per share data | ||||||||||||||||||||||||
Net asset value, beginning of period | $ | 22.53 | $ | 19.27 | $ | 15.78 | $ | 12.71 | $ | 12.69 | $ | 12.70 | ||||||||||||
Income from investment operations: | ||||||||||||||||||||||||
Net investment income | 0.57 | (h) | 0.23 | 0.21 | 0.17 | 0.14 | 0.01 | |||||||||||||||||
Net realized and unrealized gain (loss) | (0.06 | ) | 4.35 | 3.49 | 3.34 | (0.03 | ) | (0.02 | ) | |||||||||||||||
Total from investment operations | 0.51 | 4.58 | 3.70 | 3.51 | 0.11 | (0.01 | ) | |||||||||||||||||
Less distributions to shareholders: | ||||||||||||||||||||||||
Net investment income | (0.19 | ) | (0.19 | ) | (0.19 | ) | (0.13 | ) | (0.09 | ) | — | |||||||||||||
Net realized gains | (1.42 | ) | (1.13 | ) | (0.02 | ) | (0.31 | ) | — | — | ||||||||||||||
Total distributions to shareholders | (1.61 | ) | (1.32 | ) | (0.21 | ) | (0.44 | ) | (0.09 | ) | — | |||||||||||||
Net asset value, end of period | $ | 21.43 | $ | 22.53 | $ | 19.27 | $ | 15.78 | $ | 12.71 | $ | 12.69 | ||||||||||||
Total return | 2.42 | % | 24.71 | % | 23.73 | % | 28.12 | % | 0.81 | % | (0.08 | %) | ||||||||||||
Ratios to average net assets(c) | ||||||||||||||||||||||||
Total gross expenses | 0.65 | % | 0.68 | % | 0.70 | % | 0.75 | %(d) | 0.76 | %(e) | 0.85 | %(d) | ||||||||||||
Total net expenses(f) | 0.65 | % | 0.68 | % | 0.70 | % | 0.75 | %(d) | 0.76 | %(e)(g) | 0.85 | %(d)(g) | ||||||||||||
Net investment income | 2.55 | % | 1.12 | % | 1.17 | % | 1.24 | %(d) | 0.99 | % | 4.99 | %(d) | ||||||||||||
Supplemental data | ||||||||||||||||||||||||
Net assets, end of period (in thousands) | $ | 425,921 | $ | 490,451 | $ | 424,376 | $ | 385,802 | $ | 280,304 | $ | 2 | ||||||||||||
Portfolio turnover | 60 | % | 65 | % | 47 | % | 62 | % | 78 | % | 94 | % |
Notes to Financial Highlights
(a) | For the period from October 1, 2011 to August 31, 2012. During the period, the Fund’s fiscal year end was changed from September 30 to August 31. |
(b) | Based on operations from September 27, 2010 (commencement of operations) through the stated period end. |
(c) | In addition to the fees and expenses that the Fund bears directly, the Fund indirectly bears a pro rata share of the fees and expenses of any other funds in which it invests. Such indirect expenses are not included in the Fund’s reported expense ratios. |
(d) | Annualized. |
(e) | Ratios include line of credit interest expense which is less than 0.01%. |
(f) | Total net expenses include the impact of certain fee waivers/expense reimbursements made by the Investment Manager and certain of its affiliates, if applicable. |
(g) | The benefits derived from expense reductions had an impact of less than 0.01%. |
(h) | Net investment income per share includes special dividends. The effect of these dividends amounted to $0.37 per share. |
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Financial Highlights — Columbia Contrarian Core Fund
Year Ended August 31, | Year Ended September 30, | |||||||||||||||||||
Class K | 2015 | 2014 | 2013 | 2012(a) | 2011(b) | |||||||||||||||
Per share data | ||||||||||||||||||||
Net asset value, beginning of period | $ | 22.50 | $ | 19.26 | $ | 15.77 | $ | 12.70 | $ | 14.93 | ||||||||||
Income from investment operations: | ||||||||||||||||||||
Net investment income | 0.61 | (h) | 0.17 | 0.15 | 0.13 | 0.06 | ||||||||||||||
Net realized and unrealized gain (loss) | (0.16 | ) | 4.33 | 3.51 | 3.34 | (2.29 | ) | |||||||||||||
Total from investment operations | 0.45 | 4.50 | 3.66 | 3.47 | (2.23 | ) | ||||||||||||||
Less distributions to shareholders: | ||||||||||||||||||||
Net investment income | (0.13 | ) | (0.13 | ) | (0.15 | ) | (0.09 | ) | — | |||||||||||
Net realized gains | (1.42 | ) | (1.13 | ) | (0.02 | ) | (0.31 | ) | — | |||||||||||
Total distributions to shareholders | (1.55 | ) | (1.26 | ) | (0.17 | ) | (0.40 | ) | — | |||||||||||
Net asset value, end of period | $ | 21.40 | $ | 22.50 | $ | 19.26 | $ | 15.77 | $ | 12.70 | ||||||||||
Total return | 2.12 | % | 24.27 | % | 23.40 | % | 27.74 | % | (14.94 | %) | ||||||||||
Ratios to average net assets(c) | ||||||||||||||||||||
Total gross expenses | 0.96 | % | 0.97 | % | 1.00 | % | 1.05 | %(d) | 1.05 | %(d)(e) | ||||||||||
Total net expenses(f) | 0.96 | % | 0.97 | % | 1.00 | % | 1.05 | %(d) | 1.05 | %(d)(e)(g) | ||||||||||
Net investment income | 2.73 | % | 0.81 | % | 0.87 | % | 0.93 | %(d) | 0.72 | %(d) | ||||||||||
Supplemental data | ||||||||||||||||||||
Net assets, end of period (in thousands) | $ | 115 | $ | 113 | $ | 144 | $ | 117 | $ | 100 | ||||||||||
Portfolio turnover | 60 | % | 65 | % | 47 | % | 62 | % | 78 | % |
Notes to Financial Highlights
(a) | For the period from October 1, 2011 to August 31, 2012. During the period, the Fund’s fiscal year end was changed from September 30 to August 31. |
(b) | Based on operations from March 7, 2011 (commencement of operations) through the stated period end. |
(c) | In addition to the fees and expenses that the Fund bears directly, the Fund indirectly bears a pro rata share of the fees and expenses of any other funds in which it invests. Such indirect expenses are not included in the Fund’s reported expense ratios. |
(d) | Annualized. |
(e) | Ratios include line of credit interest expense which is less than 0.01%. |
(f) | Total net expenses include the impact of certain fee waivers/expense reimbursements made by the Investment Manager and certain of its affiliates, if applicable. |
(g) | The benefits derived from expense reductions had an impact of less than 0.01%. |
(h) | Net investment income per share includes special dividends. The effect of these dividends amounted to $0.47 per share. |
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Financial Highlights — Columbia Contrarian Core Fund
Year Ended August 31, | Year Ended September 30, | |||||||||||||||||||||||
Class R | 2015 | 2014 | 2013 | 2012(a) | 2011 | 2010(b) | ||||||||||||||||||
Per share data | ||||||||||||||||||||||||
Net asset value, beginning of period | $ | 22.37 | $ | 19.15 | $ | 15.68 | $ | 12.63 | $ | 12.61 | $ | 12.62 | ||||||||||||
Income from investment operations: | ||||||||||||||||||||||||
Net investment income | 0.65 | (i) | 0.09 | 0.08 | 0.08 | 0.05 | 0.00 | (c) | ||||||||||||||||
Net realized and unrealized gain (loss) | (0.29 | ) | 4.32 | 3.49 | 3.32 | (0.03 | ) | (0.01 | ) | |||||||||||||||
Total from investment operations | 0.36 | 4.41 | 3.57 | 3.40 | 0.02 | (0.01 | ) | |||||||||||||||||
Less distributions to shareholders: | ||||||||||||||||||||||||
Net investment income | (0.05 | ) | (0.06 | ) | (0.08 | ) | (0.04 | ) | — | — | ||||||||||||||
Net realized gains | (1.42 | ) | (1.13 | ) | (0.02 | ) | (0.31 | ) | — | — | ||||||||||||||
Total distributions to shareholders | (1.47 | ) | (1.19 | ) | (0.10 | ) | (0.35 | ) | — | — | ||||||||||||||
Net asset value, end of period | $ | 21.26 | $ | 22.37 | $ | 19.15 | $ | 15.68 | $ | 12.63 | $ | 12.61 | ||||||||||||
Total return | 1.69 | % | 23.86 | % | 22.93 | % | 27.34 | % | 0.16 | % | (0.08 | %) | ||||||||||||
Ratios to average net assets(d) | ||||||||||||||||||||||||
Total gross expenses | 1.34 | % | 1.36 | % | 1.39 | % | 1.42 | %(e) | 1.44 | %(f) | 1.44 | %(e) | ||||||||||||
Total net expenses(g) | 1.34 | %(h) | 1.36 | %(h) | 1.39 | %(h) | 1.41 | %(e)(h) | 1.39 | %(f)(h) | 1.44 | %(e)(h) | ||||||||||||
Net investment income | 2.93 | % | 0.44 | % | 0.46 | % | 0.59 | %(e) | 0.32 | % | 4.34 | %(e) | ||||||||||||
Supplemental data | ||||||||||||||||||||||||
Net assets, end of period (in thousands) | $ | 50,048 | $ | 30,291 | $ | 13,102 | $ | 4,489 | $ | 6 | $ | 2 | ||||||||||||
Portfolio turnover | 60 | % | 65 | % | 47 | % | 62 | % | 78 | % | 94 | % |
Notes to Financial Highlights
(a) | For the period from October 1, 2011 to August 31, 2012. During the period, the Fund’s fiscal year end was changed from September 30 to August 31. |
(b) | Based on operations from September 27, 2010 (commencement of operations) through the stated period end. |
(c) | Rounds to zero. |
(d) | In addition to the fees and expenses that the Fund bears directly, the Fund indirectly bears a pro rata share of the fees and expenses of any other funds in which it invests. Such indirect expenses are not included in the Fund’s reported expense ratios. |
(e) | Annualized. |
(f) | Ratios include line of credit interest expense which is less than 0.01%. |
(g) | Total net expenses include the impact of certain fee waivers/expense reimbursements made by the Investment Manager and certain of its affiliates, if applicable. |
(h) | The benefits derived from expense reductions had an impact of less than 0.01%. |
(i) | Net investment income per share includes special dividends. The effect of these dividends amounted to $0.60 per share. |
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Financial Highlights — Columbia Contrarian Core Fund
Year Ended August 31, | ||||||||||||
Class R4 | 2015 | 2014 | 2013(a) | |||||||||
Per share data | ||||||||||||
Net asset value, beginning of period | $ | 22.83 | $ | 19.52 | $ | 15.84 | ||||||
Income from investment operations: | ||||||||||||
Net investment income | 0.80 | (f) | 0.20 | 0.16 | ||||||||
Net realized and unrealized gain (loss) | (0.32 | ) | 4.40 | 3.70 | ||||||||
Total from investment operations | 0.48 | 4.60 | 3.86 | |||||||||
Less distributions to shareholders: | ||||||||||||
Net investment income | (0.15 | ) | (0.16 | ) | (0.16 | ) | ||||||
Net realized gains | (1.42 | ) | (1.13 | ) | (0.02 | ) | ||||||
Total distributions to shareholders | (1.57 | ) | (1.29 | ) | (0.18 | ) | ||||||
Net asset value, end of period | $ | 21.74 | $ | 22.83 | $ | 19.52 | ||||||
Total return | 2.25 | % | 24.44 | % | 24.61 | % | ||||||
Ratios to average net assets(b) | ||||||||||||
Total gross expenses | 0.85 | % | 0.86 | % | 0.89 | %(c) | ||||||
Total net expenses(d) | 0.85 | %(e) | 0.86 | %(e) | 0.89 | %(c)(e) | ||||||
Net investment income | 3.53 | % | 0.94 | % | 1.04 | %(c) | ||||||
Supplemental data | ||||||||||||
Net assets, end of period (in thousands) | $ | 227,941 | $ | 105,458 | $ | 46,212 | ||||||
Portfolio turnover | 60 | % | 65 | % | 47 | % |
Notes to Financial Highlights
(a) | Based on operations from November 8, 2012 (commencement of operations) through the stated period end. |
(b) | In addition to the fees and expenses that the Fund bears directly, the Fund indirectly bears a pro rata share of the fees and expenses of any other funds in which it invests. Such indirect expenses are not included in the Fund’s reported expense ratios. |
(c) | Annualized. |
(d) | Total net expenses include the impact of certain fee waivers/expense reimbursements made by the Investment Manager and certain of its affiliates, if applicable. |
(e) | The benefits derived from expense reductions had an impact of less than 0.01%. |
(f) | Net investment income per share includes special dividends. The effect of these dividends amounted to $0.63 per share. |
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Financial Highlights — Columbia Contrarian Core Fund
Year Ended August 31, | ||||||||||||
Class R5 | 2015 | 2014 | 2013(a) | |||||||||
Per share data | ||||||||||||
Net asset value, beginning of period | $ | 22.83 | $ | 19.52 | $ | 15.84 | ||||||
Income from investment operations: | ||||||||||||
Net investment income | 0.78 | (e) | 0.23 | 0.15 | ||||||||
Net realized and unrealized gain (loss) | (0.28 | ) | 4.39 | 3.73 | ||||||||
Total from investment operations | 0.50 | 4.62 | 3.88 | |||||||||
Less distributions to shareholders: | ||||||||||||
Net investment income | (0.18 | ) | (0.18 | ) | (0.18 | ) | ||||||
Net realized gains | (1.42 | ) | (1.13 | ) | (0.02 | ) | ||||||
Total distributions to shareholders | (1.60 | ) | (1.31 | ) | (0.20 | ) | ||||||
Net asset value, end of period | $ | 21.73 | $ | 22.83 | $ | 19.52 | ||||||
Total return | 2.34 | % | 24.60 | % | 24.75 | % | ||||||
Ratios to average net assets(b) | ||||||||||||
Total gross expenses | 0.71 | % | 0.73 | % | 0.75 | %(c) | ||||||
Total net expenses(d) | 0.71 | % | 0.73 | % | 0.75 | %(c) | ||||||
Net investment income | 3.45 | % | 1.08 | % | 1.01 | %(c) | ||||||
Supplemental data | ||||||||||||
Net assets, end of period (in thousands) | $ | 336,043 | $ | 209,498 | $ | 68,709 | ||||||
Portfolio turnover | 60 | % | 65 | % | 47 | % |
Notes to Financial Highlights
(a) | Based on operations from November 8, 2012 (commencement of operations) through the stated period end. |
(b) | In addition to the fees and expenses that the Fund bears directly, the Fund indirectly bears a pro rata share of the fees and expenses of any other funds in which it invests. Such indirect expenses are not included in the Fund’s reported expense ratios. |
(c) | Annualized. |
(d) | Total net expenses include the impact of certain fee waivers/expense reimbursements made by the Investment Manager and certain of its affiliates, if applicable. |
(e) | Net investment income per share includes special dividends. The effect of these dividends amounted to $0.58 per share. |
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Table of Contents
Financial Highlights — Columbia Contrarian Core Fund
Year Ended August 31, | Year Ended September 30, | |||||||||||||||||||||||
Class T | 2015 | 2014 | 2013 | 2012(a) | 2011 | 2010 | ||||||||||||||||||
Per share data | ||||||||||||||||||||||||
Net asset value, beginning of period | $ | 22.19 | $ | 19.01 | $ | 15.56 | $ | 12.54 | $ | 12.51 | $ | 11.67 | ||||||||||||
Income from investment operations: | ||||||||||||||||||||||||
Net investment income | 0.55 | (g) | 0.13 | 0.12 | 0.10 | 0.06 | 0.03 | |||||||||||||||||
Net realized and unrealized gain (loss) | (0.15 | ) | 4.28 | 3.47 | 3.29 | — | 0.86 | |||||||||||||||||
Total from investment operations | 0.40 | 4.41 | 3.59 | 3.39 | 0.06 | 0.89 | ||||||||||||||||||
Less distributions to shareholders: | ||||||||||||||||||||||||
Net investment income | (0.09 | ) | (0.10 | ) | (0.12 | ) | (0.06 | ) | (0.03 | ) | (0.05 | ) | ||||||||||||
Net realized gains | (1.42 | ) | (1.13 | ) | (0.02 | ) | (0.31 | ) | — | — | ||||||||||||||
Total distributions to shareholders | (1.51 | ) | (1.23 | ) | (0.14 | ) | (0.37 | ) | (0.03 | ) | (0.05 | ) | ||||||||||||
Net asset value, end of period | $ | 21.08 | $ | 22.19 | $ | 19.01 | $ | 15.56 | $ | 12.54 | $ | 12.51 | ||||||||||||
Total return | 1.92 | % | 24.06 | % | 23.22 | % | 27.49 | % | 0.43 | % | 7.68 | % | ||||||||||||
Ratios to average net assets(b) | ||||||||||||||||||||||||
Total gross expenses | 1.11 | % | 1.16 | % | 1.20 | % | 1.24 | %(c) | 1.26 | %(d) | 1.30 | % | ||||||||||||
Total net expenses(e) | 1.11 | %(f) | 1.16 | %(f) | 1.19 | %(f) | 1.21 | %(c)(f) | 1.21 | %(d)(f) | 1.24 | %(f) | ||||||||||||
Net investment income | 2.49 | % | 0.63 | % | 0.68 | % | 0.77 | %(c) | 0.44 | % | 0.24 | % | ||||||||||||
Supplemental data | ||||||||||||||||||||||||
Net assets, end of period (in thousands) | $ | 143,304 | $ | 151,430 | $ | 131,732 | $ | 117,457 | $ | 100,805 | $ | 112,862 | ||||||||||||
Portfolio turnover | 60 | % | 65 | % | 47 | % | 62 | % | 78 | % | 94 | % |
Notes to Financial Highlights
(a) | For the period from October 1, 2011 to August 31, 2012. During the period, the Fund’s fiscal year end was changed from September 30 to August 31. |
(b) | In addition to the fees and expenses that the Fund bears directly, the Fund indirectly bears a pro rata share of the fees and expenses of any other funds in which it invests. Such indirect expenses are not included in the Fund’s reported expense ratios. |
(c) | Annualized. |
(d) | Ratios include line of credit interest expense which is less than 0.01%. |
(e) | Total net expenses include the impact of certain fee waivers/expense reimbursements made by the Investment Manager and certain of its affiliates, if applicable. |
(f) | The benefits derived from expense reductions had an impact of less than 0.01%. |
(g) | Net investment income per share includes special dividends. The effect of these dividends amounted to $0.45 per share. |
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Financial Highlights — Columbia Contrarian Core Fund
Year Ended August 31, | Year Ended September 30, | |||||||||||||||||||||||
Class W | 2015 | 2014 | 2013 | 2012(a) | 2011 | 2010(b) | ||||||||||||||||||
Per share data | ||||||||||||||||||||||||
Net asset value, beginning of period | $ | 22.38 | $ | 19.16 | $ | 15.69 | $ | 12.64 | $ | 12.61 | $ | 12.62 | ||||||||||||
Income from investment operations: | ||||||||||||||||||||||||
Net investment income | 0.50 | (i) | 0.14 | 0.13 | 0.11 | 0.08 | 0.00 | (c) | ||||||||||||||||
Net realized and unrealized gain (loss) | (0.09 | ) | 4.32 | 3.48 | 3.32 | (0.02 | ) | (0.01 | ) | |||||||||||||||
Total from investment operations | 0.41 | 4.46 | 3.61 | 3.43 | 0.06 | (0.01 | ) | |||||||||||||||||
Less distributions to shareholders: | ||||||||||||||||||||||||
Net investment income | (0.10 | ) | (0.11 | ) | (0.12 | ) | (0.07 | ) | (0.03 | ) | — | |||||||||||||
Net realized gains | (1.42 | ) | (1.13 | ) | (0.02 | ) | (0.31 | ) | — | — | ||||||||||||||
Total distributions to shareholders | (1.52 | ) | (1.24 | ) | (0.14 | ) | (0.38 | ) | (0.03 | ) | — | |||||||||||||
Net asset value, end of period | $ | 21.27 | $ | 22.38 | $ | 19.16 | $ | 15.69 | $ | 12.64 | $ | 12.61 | ||||||||||||
Total return | 1.95 | % | 24.15 | % | 23.21 | % | 27.57 | % | 0.47 | % | (0.08 | %) | ||||||||||||
Ratios to average net assets(d) | ||||||||||||||||||||||||
Total gross expenses | 1.09 | % | 1.10 | % | 1.14 | % | 1.19 | %(e) | 1.20 | %(f) | 1.19 | %(e) | ||||||||||||
Total net expenses(g) | 1.09 | %(h) | 1.10 | %(h) | 1.14 | %(h) | 1.16 | %(e)(h) | 1.16 | %(f)(h) | 1.19 | %(e)(h) | ||||||||||||
Net investment income | 2.26 | % | 0.67 | % | 0.73 | % | 0.83 | %(e) | 0.54 | % | 4.64 | %(e) | ||||||||||||
Supplemental data | ||||||||||||||||||||||||
Net assets, end of period (in thousands) | $ | 118,262 | $ | 124,021 | $ | 254,377 | $ | 106,075 | $ | 74,302 | $ | 2 | ||||||||||||
Portfolio turnover | 60 | % | 65 | % | 47 | % | 62 | % | 78 | % | 94 | % |
Notes to Financial Highlights
(a) | For the period from October 1, 2011 to August 31, 2012. During the period, the Fund’s fiscal year end was changed from September 30 to August 31. |
(b) | Based on operations from September 27, 2010 (commencement of operations) through the stated period end. |
(c) | Rounds to zero. |
(d) | In addition to the fees and expenses that the Fund bears directly, the Fund indirectly bears a pro rata share of the fees and expenses of any other funds in which it invests. Such indirect expenses are not included in the Fund’s reported expense ratios. |
(e) | Annualized. |
(f) | Ratios include line of credit interest expense which is less than 0.01%. |
(g) | Total net expenses include the impact of certain fee waivers/expense reimbursements made by the Investment Manager and certain of its affiliates, if applicable. |
(h) | The benefits derived from expense reductions had an impact of less than 0.01%. |
(i) | Net investment income per share includes special dividends. The effect of these dividends amounted to $0.40 per share. |
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Table of Contents
Financial Highlights — Columbia Contrarian Core Fund
Year Ended August 31, | ||||||||||||
Class Y | 2015 | 2014 | 2013(a) | |||||||||
Per share data | ||||||||||||
Net asset value, beginning of period | $ | 22.84 | $ | 19.52 | $ | 15.84 | ||||||
Income from investment operations: | ||||||||||||
Net investment income | 1.19 | (e) | 0.24 | 0.24 | ||||||||
Net realized and unrealized gain (loss) | (0.67 | ) | 4.40 | 3.64 | ||||||||
Total from investment operations | 0.52 | 4.64 | 3.88 | |||||||||
Less distributions to shareholders: | ||||||||||||
Net investment income | (0.19 | ) | (0.19 | ) | (0.18 | ) | ||||||
Net realized gains | (1.42 | ) | (1.13 | ) | (0.02 | ) | ||||||
Total distributions to shareholders | (1.61 | ) | (1.32 | ) | (0.20 | ) | ||||||
Net asset value, end of period | $ | 21.75 | $ | 22.84 | $ | 19.52 | ||||||
Total return | 2.44 | % | 24.71 | % | 24.79 | % | ||||||
Ratios to average net assets(b) | ||||||||||||
Total gross expenses | 0.66 | % | 0.68 | % | 0.72 | %(c) | ||||||
Total net expenses(d) | 0.66 | % | 0.68 | % | 0.72 | %(c) | ||||||
Net investment income | 5.26 | % | 1.12 | % | 1.60 | %(c) | ||||||
Supplemental data | ||||||||||||
Net assets, end of period (in thousands) | $ | 53,246 | $ | 2,514 | $ | 79 | ||||||
Portfolio turnover | 60 | % | 65 | % | 47 | % |
Notes to Financial Highlights
(a) | Based on operations from November 8, 2012 (commencement of operations) through the stated period end. |
(b) | In addition to the fees and expenses that the Fund bears directly, the Fund indirectly bears a pro rata share of the fees and expenses of any other funds in which it invests. Such indirect expenses are not included in the Fund’s reported expense ratios. |
(c) | Annualized. |
(d) | Total net expenses include the impact of certain fee waivers/expense reimbursements made by the Investment Manager and certain of its affiliates, if applicable. |
(e) | Net investment income per share includes special dividends. The effect of these dividends amounted to $0.96 per share. |
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Table of Contents
Financial Highlights — Columbia Contrarian Core Fund
Year Ended August 31, | Year Ended September 30, | |||||||||||||||||||||||
Class Z | 2015 | 2014 | 2013 | 2012(a) | 2011 | 2010 | ||||||||||||||||||
Per share data | ||||||||||||||||||||||||
Net asset value, beginning of period | $ | 22.52 | $ | 19.27 | $ | 15.78 | $ | 12.71 | $ | 12.68 | $ | 11.83 | ||||||||||||
Income from investment operations: | ||||||||||||||||||||||||
Net investment income | 0.66 | (g) | 0.19 | 0.17 | 0.15 | 0.11 | 0.07 | |||||||||||||||||
Net realized and unrealized gain (loss) | (0.18 | ) | 4.35 | 3.50 | 3.34 | (0.01 | ) | 0.86 | ||||||||||||||||
Total from investment operations | 0.48 | 4.54 | 3.67 | 3.49 | 0.10 | 0.93 | ||||||||||||||||||
Less distributions to shareholders: | ||||||||||||||||||||||||
Net investment income | (0.16 | ) | (0.16 | ) | (0.16 | ) | (0.11 | ) | (0.07 | ) | (0.08 | ) | ||||||||||||
Net realized gains | (1.42 | ) | (1.13 | ) | (0.02 | ) | (0.31 | ) | — | — | ||||||||||||||
Total distributions to shareholders | (1.58 | ) | (1.29 | ) | (0.18 | ) | (0.42 | ) | (0.07 | ) | (0.08 | ) | ||||||||||||
Net asset value, end of period | $ | 21.42 | $ | 22.52 | $ | 19.27 | $ | 15.78 | $ | 12.71 | $ | 12.68 | ||||||||||||
Total return | 2.24 | % | 24.45 | % | 23.50 | % | 27.91 | % | 0.72 | % | 7.93 | % | ||||||||||||
Ratios to average net assets(b) | ||||||||||||||||||||||||
Total gross expenses | 0.84 | % | 0.86 | % | 0.90 | % | 0.94 | %(c) | 0.96 | %(d) | 1.00 | % | ||||||||||||
Total net expenses(e) | 0.84 | %(f) | 0.86 | %(f) | 0.89 | %(f) | 0.91 | %(c)(f) | 0.91 | %(d)(f) | 0.94 | %(f) | ||||||||||||
Net investment income | 2.97 | % | 0.93 | % | 0.98 | % | 1.08 | %(c) | 0.76 | % | 0.54 | % | ||||||||||||
Supplemental data | ||||||||||||||||||||||||
Net assets, end of period (in thousands) | $ | 2,119,278 | $ | 1,831,114 | $ | 1,315,874 | $ | 819,630 | $ | 494,107 | $ | 344,081 | ||||||||||||
Portfolio turnover | 60 | % | 65 | % | 47 | % | 62 | % | 78 | % | 94 | % |
Notes to Financial Highlights
(a) | For the period from October 1, 2011 to August 31, 2012. During the period, the Fund’s fiscal year end was changed from September 30 to August 31. |
(b) | In addition to the fees and expenses that the Fund bears directly, the Fund indirectly bears a pro rata share of the fees and expenses of any other funds in which it invests. Such indirect expenses are not included in the Fund’s reported expense ratios. |
(c) | Annualized. |
(d) | Ratios include line of credit interest expense which is less than 0.01%. |
(e) | Total net expenses include the impact of certain fee waivers/expense reimbursements made by the Investment Manager and certain of its affiliates, if applicable. |
(f) | The benefits derived from expense reductions had an impact of less than 0.01%. |
(g) | Net investment income per share includes special dividends. The effect of these dividends amounted to $0.50 per share. |
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Table of Contents
Financial Highlights — Columbia Large Cap Growth Fund
Year Ended July 31, | Year Ended September 30, | |||||||||||||||||||||||
Class A | 2015 | 2014 | 2013 | 2012(a) | 2011 | 2010 | ||||||||||||||||||
Per share data | ||||||||||||||||||||||||
Net asset value, beginning of period | $ | 34.51 | $ | 31.25 | $ | 25.65 | $ | 20.84 | $ | 20.64 | $ | 18.77 | ||||||||||||
Income from investment operations: | ||||||||||||||||||||||||
Net investment income (loss) | 0.03 | 0.06 | 0.11 | 0.02 | (0.01 | ) | 0.04 | |||||||||||||||||
Net realized and unrealized gain | 7.24 | 4.90 | 5.55 | 4.82 | 0.25 | (b) | 1.92 | |||||||||||||||||
Total from investment operations | 7.27 | 4.96 | 5.66 | 4.84 | 0.24 | 1.96 | ||||||||||||||||||
Less distributions to shareholders: | ||||||||||||||||||||||||
Net investment income | (0.09 | ) | (0.08 | ) | (0.06 | ) | (0.03 | ) | (0.04 | ) | (0.09 | ) | ||||||||||||
Net realized gains | (4.00 | ) | (1.62 | ) | — | — | — | — | ||||||||||||||||
Total distributions to shareholders | (4.09 | ) | (1.70 | ) | (0.06 | ) | (0.03 | ) | (0.04 | ) | (0.09 | ) | ||||||||||||
Proceeds from regulatory settlements | — | — | — | 0.00 | (c) | — | 0.00 | (c) | ||||||||||||||||
Net asset value, end of period | $ | 37.69 | $ | 34.51 | $ | 31.25 | $ | 25.65 | $ | 20.84 | $ | 20.64 | ||||||||||||
Total return | 22.51 | % | 16.29 | % | 22.09 | % | 23.22 | % | 1.16 | % | 10.48 | % | ||||||||||||
Ratios to average net assets(d) | ||||||||||||||||||||||||
Total gross expenses | 1.11 | % | 1.14 | % | 1.18 | % | 1.16 | %(e) | 1.15 | %(f) | 1.10 | %(f) | ||||||||||||
Total net expenses(g) | 1.11 | %(h) | 1.14 | %(h) | 1.18 | %(h) | 1.16 | %(e)(h) | 1.14 | %(f)(i) | 1.10 | %(f)(h) | ||||||||||||
Net investment income (loss) | 0.09 | % | 0.18 | % | 0.40 | % | 0.10 | %(e) | (0.06 | %) | 0.19 | % | ||||||||||||
Supplemental data | ||||||||||||||||||||||||
Net assets, end of period (in thousands) | $ | 1,870,452 | $ | 1,581,112 | $ | 1,459,893 | $ | 1,316,211 | $ | 1,187,715 | $ | 148,455 | ||||||||||||
Portfolio turnover | 59 | % | 88 | % | 104 | % | 80 | % | 116 | % | 122 | % |
Notes to Financial Highlights
(a) | For the period from October 1, 2011 to July 31, 2012. During the period, the Fund’s fiscal year end was changed from September 30 to July 31. |
(b) | Calculation of the net gain (loss) per share (both realized and unrealized) does not correlate to the aggregate realized and unrealized gain (loss) presented in the Statement of Operations due to the timing of subscriptions and redemptions of Fund shares in relation to fluctuations in the market value of the portfolio. |
(c) | Rounds to zero. |
(d) | In addition to the fees and expenses that the Fund bears directly, the Fund indirectly bears a pro rata share of the fees and expenses of any other funds in which it invests. Such indirect expenses are not included in the Fund’s reported expense ratios. |
(e) | Annualized. |
(f) | Ratios include line of credit interest expense which is less than 0.01%. |
(g) | Total net expenses include the impact of certain fee waivers/expense reimbursements made by the Investment Manager and certain of its affiliates, if applicable. |
(h) | The benefits derived from expense reductions had an impact of less than 0.01%. |
(i) | The benefits derived from expense reductions had an impact of 0.01%. |
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Table of Contents
Financial Highlights — Columbia Large Cap Growth Fund
Year Ended July 31, | Year Ended September 30, | |||||||||||||||||||||||
Class B | 2015 | 2014 | 2013 | 2012(a) | 2011 | 2010 | ||||||||||||||||||
Per share data | ||||||||||||||||||||||||
Net asset value, beginning of period | $ | 30.88 | $ | 28.25 | $ | 23.32 | $ | 19.04 | $ | 18.97 | $ | 17.30 | ||||||||||||
Income from investment operations: | ||||||||||||||||||||||||
Net investment loss | (0.20 | ) | (0.17 | ) | (0.09 | ) | (0.12 | ) | (0.18 | ) | (0.10 | ) | ||||||||||||
Net realized and unrealized gain | 6.40 | 4.42 | 5.02 | 4.40 | 0.25 | (b) | 1.77 | |||||||||||||||||
Total from investment operations | 6.20 | 4.25 | 4.93 | 4.28 | 0.07 | 1.67 | ||||||||||||||||||
Less distributions to shareholders: | ||||||||||||||||||||||||
Net realized gains | (4.00 | ) | (1.62 | ) | — | — | — | — | ||||||||||||||||
Total distributions to shareholders | (4.00 | ) | (1.62 | ) | — | — | — | — | ||||||||||||||||
Proceeds from regulatory settlements | — | — | — | 0.00 | (c) | — | 0.00 | (c) | ||||||||||||||||
Net asset value, end of period | $ | 33.08 | $ | 30.88 | $ | 28.25 | $ | 23.32 | $ | 19.04 | $ | 18.97 | ||||||||||||
Total return | 21.57 | % | 15.46 | % | 21.14 | % | 22.48 | % | 0.37 | % | 9.65 | % | ||||||||||||
Ratios to average net assets(d) | ||||||||||||||||||||||||
Total gross expenses | 1.86 | % | 1.89 | % | 1.93 | % | 1.91 | %(e) | 1.90 | %(f) | 1.85 | %(f) | ||||||||||||
Total net expenses(g) | 1.86 | %(h) | 1.89 | %(h) | 1.93 | %(h) | 1.91 | %(e)(h) | 1.89 | %(f)(i) | 1.85 | %(f)(h) | ||||||||||||
Net investment loss | (0.62 | %) | (0.56 | %) | (0.34 | %) | (0.64 | %)(e) | (0.82 | %) | (0.56 | %) | ||||||||||||
Supplemental data | ||||||||||||||||||||||||
Net assets, end of period (in thousands) | $ | 17,338 | $ | 24,117 | $ | 34,085 | $ | 39,046 | $ | 49,290 | $ | 14,527 | ||||||||||||
Portfolio turnover | 59 | % | 88 | % | 104 | % | 80 | % | 116 | % | 122 | % |
Notes to Financial Highlights
(a) | For the period from October 1, 2011 to July 31, 2012. During the period, the Fund’s fiscal year end was changed from September 30 to July 31. |
(b) | Calculation of the net gain (loss) per share (both realized and unrealized) does not correlate to the aggregate realized and unrealized gain (loss) presented in the Statement of Operations due to the timing of subscriptions and redemptions of Fund shares in relation to fluctuations in the market value of the portfolio. |
(c) | Rounds to zero. |
(d) | In addition to the fees and expenses that the Fund bears directly, the Fund indirectly bears a pro rata share of the fees and expenses of any other funds in which it invests. Such indirect expenses are not included in the Fund’s reported expense ratios. |
(e) | Annualized. |
(f) | Ratios include line of credit interest expense which is less than 0.01%. |
(g) | Total net expenses include the impact of certain fee waivers/expense reimbursements made by the Investment Manager and certain of its affiliates, if applicable. |
(h) | The benefits derived from expense reductions had an impact of less than 0.01%. |
(i) | The benefits derived from expense reductions had an impact of 0.01%. |
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Financial Highlights — Columbia Large Cap Growth Fund
Year Ended July 31, | Year Ended September 30, | |||||||||||||||||||||||
Class C | 2015 | 2014 | 2013 | 2012(a) | 2011 | 2010 | ||||||||||||||||||
Per share data | ||||||||||||||||||||||||
Net asset value, beginning of period | $ | 30.90 | $ | 28.27 | $ | 23.34 | $ | 19.06 | $ | 18.98 | $ | 17.31 | ||||||||||||
Income from investment operations: | ||||||||||||||||||||||||
Net investment loss | (0.21 | ) | (0.17 | ) | (0.09 | ) | (0.12 | ) | (0.17 | ) | (0.10 | ) | ||||||||||||
Net realized and unrealized gain | 6.42 | 4.42 | 5.02 | 4.40 | 0.25 | (b) | 1.77 | |||||||||||||||||
Total from investment operations | 6.21 | 4.25 | 4.93 | 4.28 | 0.08 | 1.67 | ||||||||||||||||||
Less distributions to shareholders: | ||||||||||||||||||||||||
Net realized gains | (4.00 | ) | (1.62 | ) | — | — | — | — | ||||||||||||||||
Total distributions to shareholders | (4.00 | ) | (1.62 | ) | — | — | — | — | ||||||||||||||||
Proceeds from regulatory settlements | — | — | — | 0.00 | (c) | — | 0.00 | (c) | ||||||||||||||||
Net asset value, end of period | $ | 33.11 | $ | 30.90 | $ | 28.27 | $ | 23.34 | $ | 19.06 | $ | 18.98 | ||||||||||||
Total return | 21.59 | % | 15.45 | % | 21.12 | % | 22.46 | % | 0.42 | % | 9.65 | % | ||||||||||||
Ratios to average net assets(d) | ||||||||||||||||||||||||
Total gross expenses | 1.86 | % | 1.89 | % | 1.93 | % | 1.91 | %(e) | 1.88 | %(f) | 1.85 | %(f) | ||||||||||||
Total net expenses(g) | 1.86 | %(h) | 1.89 | %(h) | 1.93 | %(h) | 1.91 | %(e)(h) | 1.87 | %(f)(i) | 1.85 | %(f)(h) | ||||||||||||
Net investment loss | (0.67 | %) | (0.57 | %) | (0.36 | %) | (0.65 | %)(e) | (0.77 | %) | (0.55 | %) | ||||||||||||
Supplemental data | ||||||||||||||||||||||||
Net assets, end of period (in thousands) | $ | 85,724 | $ | 63,200 | $ | 52,885 | $ | 39,542 | $ | 36,860 | $ | 15,990 | ||||||||||||
Portfolio turnover | 59 | % | 88 | % | 104 | % | 80 | % | 116 | % | 122 | % |
Notes to Financial Highlights
(a) | For the period from October 1, 2011 to July 31, 2012. During the period, the Fund’s fiscal year end was changed from September 30 to July 31. |
(b) | Calculation of the net gain (loss) per share (both realized and unrealized) does not correlate to the aggregate realized and unrealized gain (loss) presented in the Statement of Operations due to the timing of subscriptions and redemptions of Fund shares in relation to fluctuations in the market value of the portfolio. |
(c) | Rounds to zero. |
(d) | In addition to the fees and expenses that the Fund bears directly, the Fund indirectly bears a pro rata share of the fees and expenses of any other funds in which it invests. Such indirect expenses are not included in the Fund’s reported expense ratios. |
(e) | Annualized. |
(f) | Ratios include line of credit interest expense which is less than 0.01%. |
(g) | Total net expenses include the impact of certain fee waivers/expense reimbursements made by the Investment Manager and certain of its affiliates, if applicable. |
(h) | The benefits derived from expense reductions had an impact of less than 0.01%. |
(i) | The benefits derived from expense reductions had an impact of 0.01%. |
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Financial Highlights — Columbia Large Cap Growth Fund
Year Ended July 31, | Year Ended September 30, | |||||||||||||||||||||||
Class I | 2015 | 2014 | 2013 | 2012(a) | 2011 | 2010(b) | ||||||||||||||||||
Per share data | ||||||||||||||||||||||||
Net asset value, beginning of period | $ | 35.43 | $ | 32.02 | $ | 26.29 | $ | 21.37 | $ | 21.14 | $ | 21.18 | ||||||||||||
Income from investment operations: | ||||||||||||||||||||||||
Net investment income | 0.19 | 0.21 | 0.25 | 0.11 | 0.11 | 0.00 | (c) | |||||||||||||||||
Net realized and unrealized gain (loss) | 7.43 | 5.04 | 5.66 | 4.94 | 0.24 | (d) | (0.04 | ) | ||||||||||||||||
Total from investment operations | 7.62 | 5.25 | 5.91 | 5.05 | 0.35 | (0.04 | ) | |||||||||||||||||
Less distributions to shareholders: | ||||||||||||||||||||||||
Net investment income | (0.24 | ) | (0.22 | ) | (0.18 | ) | (0.13 | ) | (0.12 | ) | — | |||||||||||||
Net realized gains | (4.00 | ) | (1.62 | ) | — | — | — | — | ||||||||||||||||
Total distributions to shareholders | (4.24 | ) | (1.84 | ) | (0.18 | ) | (0.13 | ) | (0.12 | ) | — | |||||||||||||
Proceeds from regulatory settlements | — | — | — | 0.00 | (c) | — | — | |||||||||||||||||
Net asset value, end of period | $ | 38.81 | $ | 35.43 | $ | 32.02 | $ | 26.29 | $ | 21.37 | $ | 21.14 | ||||||||||||
Total return | 23.00 | % | 16.84 | % | 22.60 | % | 23.71 | % | 1.61 | % | (0.19 | %) | ||||||||||||
Ratios to average net assets(e) | ||||||||||||||||||||||||
Total gross expenses | 0.69 | % | 0.70 | % | 0.71 | % | 0.72 | %(f) | 0.68 | %(g) | 0.60 | %(f) | ||||||||||||
Total net expenses(h) | 0.69 | % | 0.70 | % | 0.71 | % | 0.72 | %(f) | 0.68 | %(g)(i) | 0.60 | %(f)(i) | ||||||||||||
Net investment income | 0.52 | % | 0.62 | % | 0.87 | % | 0.54 | %(f) | 0.46 | % | 1.89 | %(f) | ||||||||||||
Supplemental data | ||||||||||||||||||||||||
Net assets, end of period (in thousands) | $ | 179,142 | $ | 184,811 | $ | 220,421 | $ | 203,848 | $ | 279,510 | $ | 2 | ||||||||||||
Portfolio turnover | 59 | % | 88 | % | 104 | % | 80 | % | 116 | % | 122 | % |
Notes to Financial Highlights
(a) | For the period from October 1, 2011 to July 31, 2012. During the period, the Fund’s fiscal year end was changed from September 30 to July 31. |
(b) | Based on operations from September 27, 2010 (commencement of operations) through the stated period end. |
(c) | Rounds to zero. |
(d) | Calculation of the net gain (loss) per share (both realized and unrealized) does not correlate to the aggregate realized and unrealized gain (loss) presented in the Statement of Operations due to the timing of subscriptions and redemptions of Fund shares in relation to fluctuations in the market value of the portfolio. |
(e) | In addition to the fees and expenses that the Fund bears directly, the Fund indirectly bears a pro rata share of the fees and expenses of any other funds in which it invests. Such indirect expenses are not included in the Fund’s reported expense ratios. |
(f) | Annualized. |
(g) | Ratios include line of credit interest expense which is less than 0.01%. |
(h) | Total net expenses include the impact of certain fee waivers/expense reimbursements made by the Investment Manager and certain of its affiliates, if applicable. |
(i) | The benefits derived from expense reductions had an impact of less than 0.01%. |
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Financial Highlights — Columbia Large Cap Growth Fund
Year Ended July 31, | Year Ended September 30, | |||||||||||||||||||
Class K | 2015 | 2014 | 2013 | 2012(a) | 2011(b) | |||||||||||||||
Per share data | ||||||||||||||||||||
Net asset value, beginning of period | $ | 35.32 | $ | 31.94 | $ | 26.24 | $ | 21.33 | $ | 24.86 | ||||||||||
Income from investment operations: | ||||||||||||||||||||
Net investment income | 0.09 | 0.11 | 0.18 | 0.08 | 0.02 | |||||||||||||||
Net realized and unrealized gain (loss) | 7.41 | 5.01 | 5.64 | 4.90 | (3.55 | ) | ||||||||||||||
Total from investment operations | 7.50 | 5.12 | 5.82 | 4.98 | (3.53 | ) | ||||||||||||||
Less distributions to shareholders: | ||||||||||||||||||||
Net investment income | (0.14 | ) | (0.12 | ) | (0.12 | ) | (0.07 | ) | — | |||||||||||
Net realized gains | (4.00 | ) | (1.62 | ) | — | — | — | |||||||||||||
Total distributions to shareholders | (4.14 | ) | (1.74 | ) | (0.12 | ) | (0.07 | ) | — | |||||||||||
Proceeds from regulatory settlements | — | — | — | 0.00 | (c) | — | ||||||||||||||
Net asset value, end of period | $ | 38.68 | $ | 35.32 | $ | 31.94 | $ | 26.24 | $ | 21.33 | ||||||||||
Total return | 22.66 | % | 16.47 | % | 22.25 | % | 23.38 | % | (14.20 | %) | ||||||||||
Ratios to average net assets(d) | ||||||||||||||||||||
Total gross expenses | 0.99 | % | 1.00 | % | 0.96 | % | 0.97 | %(e) | 0.95 | %(e)(f) | ||||||||||
Total net expenses(g) | 0.99 | % | 1.00 | % | 0.96 | % | 0.97 | %(e) | 0.95 | %(e)(f)(h) | ||||||||||
Net investment income | 0.23 | % | 0.32 | % | 0.64 | % | 0.40 | %(e) | 0.12 | %(e) | ||||||||||
Supplemental data | ||||||||||||||||||||
Net assets, end of period (in thousands) | $ | 176 | $ | 202 | $ | 191 | $ | 4,270 | $ | 46,696 | ||||||||||
Portfolio turnover | 59 | % | 88 | % | 104 | % | 80 | % | 116 | % |
Notes to Financial Highlights
(a) | For the period from October 1, 2011 to July 31, 2012. During the period, the Fund’s fiscal year end was changed from September 30 to July 31. |
(b) | Based on operations from March 7, 2011 (commencement of operations) through the stated period end. |
(c) | Rounds to zero. |
(d) | In addition to the fees and expenses that the Fund bears directly, the Fund indirectly bears a pro rata share of the fees and expenses of any other funds in which it invests. Such indirect expenses are not included in the Fund’s reported expense ratios. |
(e) | Annualized. |
(f) | Ratios include line of credit interest expense which is less than 0.01%. |
(g) | Total net expenses include the impact of certain fee waivers/expense reimbursements made by the Investment Manager and certain of its affiliates, if applicable. |
(h) | The benefits derived from expense reductions had an impact of less than 0.01%. |
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Table of Contents
Financial Highlights — Columbia Large Cap Growth Fund
Year Ended July 31, | Year Ended September 30, | |||||||||||||||||||||||
Class R | 2015 | 2014 | 2013 | 2012(a) | 2011 | 2010(b) | ||||||||||||||||||
Per share data | ||||||||||||||||||||||||
Net asset value, beginning of period | $ | 34.44 | $ | 31.18 | $ | 25.61 | $ | 20.83 | $ | 20.64 | $ | 20.68 | ||||||||||||
Income from investment operations: | ||||||||||||||||||||||||
Net investment income (loss) | (0.07 | ) | (0.02 | ) | 0.05 | (0.01 | ) | (0.07 | ) | 0.00 | (c) | |||||||||||||
Net realized and unrealized gain (loss) | 7.24 | 4.89 | 5.52 | 4.79 | 0.26 | (d) | (0.04 | ) | ||||||||||||||||
Total from investment operations | 7.17 | 4.87 | 5.57 | 4.78 | 0.19 | (0.04 | ) | |||||||||||||||||
Less distributions to shareholders: | ||||||||||||||||||||||||
Net investment income | (0.01 | ) | (0.00 | )(c) | — | — | — | — | ||||||||||||||||
Net realized gains | (4.00 | ) | (1.62 | ) | — | — | — | — | ||||||||||||||||
Total distributions to shareholders | (4.01 | ) | (1.62 | ) | — | — | — | — | ||||||||||||||||
Proceeds from regulatory settlements | — | — | — | 0.00 | (c) | — | — | |||||||||||||||||
Increase from payment by affiliate | — | 0.01 | — | — | — | — | ||||||||||||||||||
Net asset value, end of period | $ | 37.60 | $ | 34.44 | $ | 31.18 | $ | 25.61 | $ | 20.83 | $ | 20.64 | ||||||||||||
Total return | 22.20 | % | 16.06 | %(e) | 21.75 | % | 22.95 | % | 0.92 | % | (0.19 | %) | ||||||||||||
Ratios to average net assets(f) | ||||||||||||||||||||||||
Total gross expenses | 1.36 | % | 1.39 | % | 1.43 | % | 1.40 | %(g) | 1.41 | %(h) | 1.21 | %(g) | ||||||||||||
Total net expenses(i) | 1.36 | %(j) | 1.39 | %(j) | 1.43 | %(j) | 1.40 | %(g)(j) | 1.40 | %(h)(k) | 1.21 | %(g)(j) | ||||||||||||
Net investment income (loss) | (0.20 | %) | (0.06 | %) | 0.17 | % | (0.07 | %)(g) | (0.32 | %) | 1.28 | %(g) | ||||||||||||
Supplemental data | ||||||||||||||||||||||||
Net assets, end of period (in thousands) | $ | 5,421 | $ | 1,534 | $ | 1,643 | $ | 726 | $ | 2,002 | $ | 2 | ||||||||||||
Portfolio turnover | 59 | % | 88 | % | 104 | % | 80 | % | 116 | % | 122 | % |
Notes to Financial Highlights
(a) | For the period from October 1, 2011 to July 31, 2012. During the period, the Fund’s fiscal year end was changed from September 30 to July 31. |
(b) | Based on operations from September 27, 2010 (commencement of operations) through the stated period end. |
(c) | Rounds to zero. |
(d) | Calculation of the net gain (loss) per share (both realized and unrealized) does not correlate to the aggregate realized and unrealized gain (loss) presented in the Statement of Operations due to the timing of subscriptions and redemptions of Fund shares in relation to fluctuations in the market value of the portfolio. |
(e) | The Fund received a payment from an affiliate. Had the Fund not received this payment, the total return would have been lower by 0.02%. |
(f) | In addition to the fees and expenses that the Fund bears directly, the Fund indirectly bears a pro rata share of the fees and expenses of any other funds in which it invests. Such indirect expenses are not included in the Fund’s reported expense ratios. |
(g) | Annualized. |
(h) | Ratios include line of credit interest expense which is less than 0.01%. |
(i) | Total net expenses include the impact of certain fee waivers/expense reimbursements made by the Investment Manager and certain of its affiliates, if applicable. |
(j) | The benefits derived from expense reductions had an impact of less than 0.01%. |
(k) | The benefits derived from expense reductions had an impact of 0.01%. |
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Table of Contents
Financial Highlights — Columbia Large Cap Growth Fund
Year Ended July 31, | ||||||||||||
Class R4 | 2015 | 2014 | 2013(a) | |||||||||
Per share data | ||||||||||||
Net asset value, beginning of period | $ | 35.98 | $ | 32.48 | $ | 26.79 | ||||||
Income from investment operations: | ||||||||||||
Net investment income | 0.06 | 0.15 | 0.11 | |||||||||
Net realized and unrealized gain | 7.63 | 5.10 | 5.69 | |||||||||
Total from investment operations | 7.69 | 5.25 | 5.80 | |||||||||
Less distributions to shareholders: | ||||||||||||
Net investment income | (0.18 | ) | (0.15 | ) | (0.11 | ) | ||||||
Net realized gains | (4.00 | ) | (1.62 | ) | — | |||||||
Total distributions to shareholders | (4.18 | ) | (1.77 | ) | (0.11 | ) | ||||||
Increase from payment by affiliate | — | 0.02 | — | |||||||||
Net asset value, end of period | $ | 39.49 | $ | 35.98 | $ | 32.48 | ||||||
Total return | 22.80 | % | 16.67 | %(b) | 21.70 | % | ||||||
Ratios to average net assets(c) | ||||||||||||
Total gross expenses | 0.86 | % | 0.89 | % | 0.93 | %(d) | ||||||
Total net expenses(e) | 0.86 | %(f) | 0.89 | %(f) | 0.93 | %(d)(f) | ||||||
Net investment income | 0.17 | % | 0.42 | % | 0.49 | %(d) | ||||||
Supplemental data | ||||||||||||
Net assets, end of period (in thousands) | $ | 6,506 | $ | 766 | $ | 33 | ||||||
Portfolio turnover | 59 | % | 88 | % | 104 | % |
Notes to Financial Highlights
(a) | Based on operations from November 8, 2012 (commencement of operations) through the stated period end. |
(b) | The Fund received a payment from an affiliate. Had the Fund not received this payment, the total return would have been lower by 0.05%. |
(c) | In addition to the fees and expenses that the Fund bears directly, the Fund indirectly bears a pro rata share of the fees and expenses of any other funds in which it invests. Such indirect expenses are not included in the Fund’s reported expense ratios. |
(d) | Annualized. |
(e) | Total net expenses include the impact of certain fee waivers/expense reimbursements made by the Investment Manager and certain of its affiliates, if applicable. |
(f) | The benefits derived from expense reductions had an impact of less than 0.01%. |
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Financial Highlights — Columbia Large Cap Growth Fund
Year Ended July 31, | Year Ended September 30, | |||||||||||||||||||
Class R5 | 2015 | 2014 | 2013 | 2012(a) | 2011(b) | |||||||||||||||
Per share data | ||||||||||||||||||||
Net asset value, beginning of period | $ | 35.39 | $ | 32.00 | $ | 26.28 | $ | 21.36 | $ | 24.86 | ||||||||||
Income from investment operations: | ||||||||||||||||||||
Net investment income | 0.09 | 0.19 | 0.26 | 0.11 | 0.05 | |||||||||||||||
Net realized and unrealized gain (loss) | 7.51 | 5.02 | 5.64 | 4.94 | (3.55 | ) | ||||||||||||||
Total from investment operations | 7.60 | 5.21 | 5.90 | 5.05 | (3.50 | ) | ||||||||||||||
Less distributions to shareholders: | ||||||||||||||||||||
Net investment income | (0.22 | ) | (0.20 | ) | (0.18 | ) | (0.13 | ) | — | |||||||||||
Net realized gains | (4.00 | ) | (1.62 | ) | — | — | — | |||||||||||||
Total distributions to shareholders | (4.22 | ) | (1.82 | ) | (0.18 | ) | (0.13 | ) | — | |||||||||||
Proceeds from regulatory settlements | — | — | — | 0.00 | (c) | — | ||||||||||||||
Net asset value, end of period | $ | 38.77 | $ | 35.39 | $ | 32.00 | $ | 26.28 | $ | 21.36 | ||||||||||
Total return | 22.95 | % | 16.74 | % | 22.59 | % | 23.70 | % | (14.08 | %) | ||||||||||
Ratios to average net assets(d) | ||||||||||||||||||||
Total gross expenses | 0.75 | % | 0.75 | % | 0.72 | % | 0.73 | %(e) | 0.70 | %(e)(f) | ||||||||||
Total net expenses(g) | 0.75 | % | 0.75 | % | 0.72 | % | 0.73 | %(e) | 0.70 | %(e)(f)(h) | ||||||||||
Net investment income | 0.25 | % | 0.57 | % | 0.89 | % | 0.53 | %(e) | 0.37 | %(e) | ||||||||||
Supplemental data | ||||||||||||||||||||
Net assets, end of period (in thousands) | $ | 3,879 | $ | 195 | $ | 36 | $ | 497 | $ | 407 | ||||||||||
Portfolio turnover | 59 | % | 88 | % | 104 | % | 80 | % | 116 | % |
Notes to Financial Highlights
(a) | For the period from October 1, 2011 to July 31, 2012. During the period, the Fund’s fiscal year end was changed from September 30 to July 31. |
(b) | Based on operations from March 7, 2011 (commencement of operations) through the stated period end. |
(c) | Rounds to zero. |
(d) | In addition to the fees and expenses that the Fund bears directly, the Fund indirectly bears a pro rata share of the fees and expenses of any other funds in which it invests. Such indirect expenses are not included in the Fund’s reported expense ratios. |
(e) | Annualized. |
(f) | Ratios include line of credit interest expense which is less than 0.01%. |
(g) | Total net expenses include the impact of certain fee waivers/expense reimbursements made by the Investment Manager and certain of its affiliates, if applicable. |
(h) | The benefits derived from expense reductions had an impact of less than 0.01%. |
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Financial Highlights — Columbia Large Cap Growth Fund
Year Ended July 31, | Year Ended September 30, | |||||||||||||||||||||||
Class T | 2015 | 2014 | 2013 | 2012(a) | 2011 | 2010 | ||||||||||||||||||
Per share data | ||||||||||||||||||||||||
Net asset value, beginning of period | $ | 34.27 | $ | 31.05 | $ | 25.49 | $ | 20.69 | $ | 20.49 | $ | 18.64 | ||||||||||||
Income from investment operations: | ||||||||||||||||||||||||
Net investment income (loss) | 0.03 | 0.04 | 0.10 | 0.01 | (0.01 | ) | 0.03 | |||||||||||||||||
Net realized and unrealized gain | 7.19 | 4.87 | 5.50 | 4.79 | 0.24 | (b) | 1.90 | |||||||||||||||||
Total from investment operations | 7.22 | 4.91 | 5.60 | 4.80 | 0.23 | 1.93 | ||||||||||||||||||
Less distributions to shareholders: | ||||||||||||||||||||||||
Net investment income | (0.08 | ) | (0.07 | ) | (0.04 | ) | — | (0.03 | ) | (0.08 | ) | |||||||||||||
Net realized gains | (4.00 | ) | (1.62 | ) | — | — | — | — | ||||||||||||||||
Total distributions to shareholders | (4.08 | ) | (1.69 | ) | (0.04 | ) | — | (0.03 | ) | (0.08 | ) | |||||||||||||
Proceeds from regulatory settlements | — | — | — | 0.00 | (c) | — | 0.00 | (c) | ||||||||||||||||
Net asset value, end of period | $ | 37.41 | $ | 34.27 | $ | 31.05 | $ | 25.49 | $ | 20.69 | $ | 20.49 | ||||||||||||
Total return | 22.49 | % | 16.21 | % | 22.01 | % | 23.20 | % | 1.12 | % | 10.40 | % | ||||||||||||
Ratios to average net assets(d) | ||||||||||||||||||||||||
Total gross expenses | 1.13 | % | 1.19 | % | 1.23 | % | 1.21 | %(e) | 1.15 | %(f) | 1.15 | %(f) | ||||||||||||
Total net expenses(g) | 1.13 | %(h) | 1.19 | %(h) | 1.23 | %(h) | 1.21 | %(e)(h) | 1.14 | %(f)(i) | 1.15 | %(f)(h) | ||||||||||||
Net investment income | 0.08 | % | 0.13 | % | 0.35 | % | 0.05 | %(e) | (0.03 | %) | 0.15 | % | ||||||||||||
Supplemental data | ||||||||||||||||||||||||
Net assets, end of period (in thousands) | $ | 197,026 | $ | 172,830 | $ | 160,462 | $ | 146,207 | $ | 130,081 | $ | 143,784 | ||||||||||||
Portfolio turnover | 59 | % | 88 | % | 104 | % | 80 | % | 116 | % | 122 | % |
Notes to Financial Highlights
(a) | For the period from October 1, 2011 to July 31, 2012. During the period, the Fund’s fiscal year end was changed from September 30 to July 31. |
(b) | Calculation of the net gain (loss) per share (both realized and unrealized) does not correlate to the aggregate realized and unrealized gain (loss) presented in the Statement of Operations due to the timing of subscriptions and redemptions of Fund shares in relation to fluctuations in the market value of the portfolio. |
(c) | Rounds to zero. |
(d) | In addition to the fees and expenses that the Fund bears directly, the Fund indirectly bears a pro rata share of the fees and expenses of any other funds in which it invests. Such indirect expenses are not included in the Fund’s reported expense ratios. |
(e) | Annualized. |
(f) | Ratios include line of credit interest expense which is less than 0.01%. |
(g) | Total net expenses include the impact of certain fee waivers/expense reimbursements made by the Investment Manager and certain of its affiliates, if applicable. |
(h) | The benefits derived from expense reductions had an impact of less than 0.01%. |
(i) | The benefits derived from expense reductions had an impact of 0.01%. |
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Table of Contents
Financial Highlights — Columbia Large Cap Growth Fund
Year Ended July 31, | Year Ended September 30, | |||||||||||||||||||||||
Class W | 2015 | 2014 | 2013 | 2012(a) | 2011 | 2010(b) | ||||||||||||||||||
Per share data | ||||||||||||||||||||||||
Net asset value, beginning of period | $ | 34.57 | $ | 31.26 | $ | 25.66 | $ | 20.85 | $ | 20.64 | $ | 20.68 | ||||||||||||
Income from investment operations: | ||||||||||||||||||||||||
Net investment income | 0.03 | 0.06 | 0.12 | 0.01 | 0.02 | 0.00 | (c) | |||||||||||||||||
Net realized and unrealized gain (loss) | 7.24 | 4.91 | 5.54 | 4.82 | 0.23 | (d) | (0.04 | ) | ||||||||||||||||
Total from investment operations | 7.27 | 4.97 | 5.66 | 4.83 | 0.25 | (0.04 | ) | |||||||||||||||||
Less distributions to shareholders: | ||||||||||||||||||||||||
Net investment income | (0.09 | ) | (0.06 | ) | (0.06 | ) | (0.02 | ) | (0.04 | ) | — | |||||||||||||
Net realized gains | (4.00 | ) | (1.62 | ) | — | — | — | — | ||||||||||||||||
Total distributions to shareholders | (4.09 | ) | (1.68 | ) | (0.06 | ) | (0.02 | ) | (0.04 | ) | — | |||||||||||||
Proceeds from regulatory settlements | — | — | — | 0.00 | (c) | — | — | |||||||||||||||||
Increase from payment by affiliate | — | 0.02 | — | — | — | — | ||||||||||||||||||
Net asset value, end of period | $ | 37.75 | $ | 34.57 | $ | 31.26 | $ | 25.66 | $ | 20.85 | $ | 20.64 | ||||||||||||
Total return | 22.47 | % | 16.39 | %(e) | 22.12 | % | 23.19 | % | 1.21 | % | (0.19 | %) | ||||||||||||
Ratios to average net assets(f) | ||||||||||||||||||||||||
Total gross expenses | 1.11 | % | 1.14 | % | 1.14 | % | 1.19 | %(g) | 1.05 | %(h) | 0.96 | %(g) | ||||||||||||
Total net expenses(i) | 1.11 | %(j) | 1.14 | %(j) | 1.14 | %(j) | 1.19 | %(g)(j) | 1.04 | %(h)(k) | 0.96 | %(g)(j) | ||||||||||||
Net investment income | 0.09 | % | 0.18 | % | 0.43 | % | 0.07 | %(g) | 0.07 | % | 1.52 | %(g) | ||||||||||||
Supplemental data | ||||||||||||||||||||||||
Net assets, end of period (in thousands) | $ | 144,250 | $ | 125,509 | $ | 4 | $ | 3 | $ | 3 | $ | 2 | ||||||||||||
Portfolio turnover | 59 | % | 88 | % | 104 | % | 80 | % | 116 | % | 122 | % |
Notes to Financial Highlights
(a) | For the period from October 1, 2011 to July 31, 2012. During the period, the Fund’s fiscal year end was changed from September 30 to July 31. |
(b) | Based on operations from September 27, 2010 (commencement of operations) through the stated period end. |
(c) | Rounds to zero. |
(d) | Calculation of the net gain (loss) per share (both realized and unrealized) does not correlate to the aggregate realized and unrealized gain (loss) presented in the Statement of Operations due to the timing of subscriptions and redemptions of Fund shares in relation to fluctuations in the market value of the portfolio. |
(e) | The Fund received a payment from an affiliate. Had the Fund not received this payment, the total return would have been lower by 0.06%. |
(f) | In addition to the fees and expenses that the Fund bears directly, the Fund indirectly bears a pro rata share of the fees and expenses of any other funds in which it invests. Such indirect expenses are not included in the Fund’s reported expense ratios. |
(g) | Annualized. |
(h) | Ratios include line of credit interest expense which is less than 0.01%. |
(i) | Total net expenses include the impact of certain fee waivers/expense reimbursements made by the Investment Manager and certain of its affiliates, if applicable. |
(j) | The benefits derived from expense reductions had an impact of less than 0.01%. |
(k) | The benefits derived from expense reductions had an impact of 0.01%. |
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Table of Contents
Financial Highlights — Columbia Large Cap Growth Fund
Year Ended July 31, | Year Ended September 30, | |||||||||||||||||||||||
Class Y | 2015 | 2014 | 2013 | 2012(a) | 2011 | 2010 | ||||||||||||||||||
Per share data | ||||||||||||||||||||||||
Net asset value, beginning of period | $ | 35.44 | $ | 32.03 | $ | 26.29 | $ | 21.36 | $ | 21.14 | $ | 19.20 | ||||||||||||
Income from investment operations: | ||||||||||||||||||||||||
Net investment income | 0.07 | 0.22 | 0.25 | 0.11 | 0.11 | 0.13 | ||||||||||||||||||
Net realized and unrealized gain | 7.57 | 5.03 | 5.67 | 4.94 | 0.23 | (b) | 1.97 | |||||||||||||||||
Total from investment operations | 7.64 | 5.25 | 5.92 | 5.05 | 0.34 | 2.10 | ||||||||||||||||||
Less distributions to shareholders: | ||||||||||||||||||||||||
Net investment income | (0.25 | ) | (0.22 | ) | (0.18 | ) | (0.12 | ) | (0.12 | ) | (0.16 | ) | ||||||||||||
Net realized gains | (4.00 | ) | (1.62 | ) | — | — | — | — | ||||||||||||||||
Total distributions to shareholders | (4.25 | ) | (1.84 | ) | (0.18 | ) | (0.12 | ) | (0.12 | ) | (0.16 | ) | ||||||||||||
Proceeds from regulatory settlements | — | — | — | 0.00 | (c) | — | 0.00 | (c) | ||||||||||||||||
Net asset value, end of period | $ | 38.83 | $ | 35.44 | $ | 32.03 | $ | 26.29 | $ | 21.36 | $ | 21.14 | ||||||||||||
Total return | 23.03 | % | 16.84 | % | 22.64 | % | 23.72 | % | 1.56 | % | 11.01 | % | ||||||||||||
Ratios to average net assets(d) | ||||||||||||||||||||||||
Total gross expenses | 0.71 | % | 0.70 | % | 0.71 | % | 0.72 | %(e) | 0.67 | %(f) | 0.64 | %(f) | ||||||||||||
Total net expenses(g) | 0.71 | % | 0.70 | % | 0.71 | % | 0.72 | %(e) | 0.67 | %(f)(h) | 0.64 | %(f)(h) | ||||||||||||
Net investment income | 0.19 | % | 0.66 | % | 0.90 | % | 0.55 | %(e) | 0.48 | % | 0.66 | % | ||||||||||||
Supplemental data | ||||||||||||||||||||||||
Net assets, end of period (in thousands) | $ | 2,750 | $ | 3 | $ | 3,826 | $ | 14,446 | $ | 15,311 | $ | 22,272 | ||||||||||||
Portfolio turnover | 59 | % | 88 | % | 104 | % | 80 | % | 116 | % | 122 | % |
Notes to Financial Highlights
(a) | For the period from October 1, 2011 to July 31, 2012. During the period, the Fund’s fiscal year end was changed from September 30 to July 31. |
(b) | Calculation of the net gain (loss) per share (both realized and unrealized) does not correlate to the aggregate realized and unrealized gain (loss) presented in the Statement of Operations due to the timing of subscriptions and redemptions of Fund shares in relation to fluctuations in the market value of the portfolio. |
(c) | Rounds to zero. |
(d) | In addition to the fees and expenses that the Fund bears directly, the Fund indirectly bears a pro rata share of the fees and expenses of any other funds in which it invests. Such indirect expenses are not included in the Fund’s reported expense ratios. |
(e) | Annualized. |
(f) | Ratios include line of credit interest expense which is less than 0.01%. |
(g) | Total net expenses include the impact of certain fee waivers/expense reimbursements made by the Investment Manager and certain of its affiliates, if applicable. |
(h) | The benefits derived from expense reductions had an impact of less than 0.01%. |
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Table of Contents
Financial Highlights — Columbia Large Cap Growth Fund
Year Ended July 31, | Year Ended September 30, | |||||||||||||||||||||||
Class Z | 2015 | 2014 | 2013 | 2012(a) | 2011 | 2010 | ||||||||||||||||||
Per share data | ||||||||||||||||||||||||
Net asset value, beginning of period | $ | 35.41 | $ | 32.01 | $ | 26.28 | $ | 21.33 | $ | 21.12 | $ | 19.20 | ||||||||||||
Income from investment operations: | ||||||||||||||||||||||||
Net investment income | 0.13 | 0.15 | 0.19 | 0.07 | 0.07 | 0.09 | ||||||||||||||||||
Net realized and unrealized gain | 7.43 | 5.03 | 5.66 | 4.94 | 0.24 | (b) | 1.96 | |||||||||||||||||
Total from investment operations | 7.56 | 5.18 | 5.85 | 5.01 | 0.31 | 2.05 | ||||||||||||||||||
Less distributions to shareholders: | ||||||||||||||||||||||||
Net investment income | (0.18 | ) | (0.16 | ) | (0.12 | ) | (0.06 | ) | (0.10 | ) | (0.13 | ) | ||||||||||||
Net realized gains | (4.00 | ) | (1.62 | ) | — | — | — | — | ||||||||||||||||
Total distributions to shareholders | (4.18 | ) | (1.78 | ) | (0.12 | ) | (0.06 | ) | (0.10 | ) | (0.13 | ) | ||||||||||||
Proceeds from regulatory settlements | — | — | — | 0.00 | (c) | — | 0.00 | (c) | ||||||||||||||||
Net asset value, end of period | $ | 38.79 | $ | 35.41 | $ | 32.01 | $ | 26.28 | $ | 21.33 | $ | 21.12 | ||||||||||||
Total return | 22.80 | % | 16.61 | % | 22.34 | % | 23.52 | % | 1.41 | % | �� | 10.74 | % | |||||||||||
Ratios to average net assets(d) | ||||||||||||||||||||||||
Total gross expenses | 0.86 | % | 0.89 | % | 0.93 | % | 0.91 | %(e) | 0.85 | %(f) | 0.85 | %(f) | ||||||||||||
Total net expenses(g) | 0.86 | %(h) | 0.89 | %(h) | 0.93 | %(h) | 0.91 | %(e)(h) | 0.84 | %(f)(i) | 0.85 | %(f)(h) | ||||||||||||
Net investment income | 0.34 | % | 0.43 | % | 0.65 | % | 0.35 | %(e) | 0.28 | % | 0.45 | % | ||||||||||||
Supplemental data | ||||||||||||||||||||||||
Net assets, end of period (in thousands) | $ | 1,049,380 | $ | 889,169 | $ | 850,041 | $ | 735,315 | $ | 683,738 | $ | 860,959 | ||||||||||||
Portfolio turnover | 59 | % | 88 | % | 104 | % | 80 | % | 116 | % | 122 | % |
Notes to Financial Highlights
(a) | For the period from October 1, 2011 to July 31, 2012. During the period, the Fund’s fiscal year end was changed from September 30 to July 31. |
(b) | Calculation of the net gain (loss) per share (both realized and unrealized) does not correlate to the aggregate realized and unrealized gain (loss) presented in the Statement of Operations due to the timing of subscriptions and redemptions of Fund shares in relation to fluctuations in the market value of the portfolio. |
(c) | Rounds to zero. |
(d) | In addition to the fees and expenses that the Fund bears directly, the Fund indirectly bears a pro rata share of the fees and expenses of any other funds in which it invests. Such indirect expenses are not included in the Fund’s reported expense ratios. |
(e) | Annualized. |
(f) | Ratios include line of credit interest expense which is less than 0.01%. |
(g) | Total net expenses include the impact of certain fee waivers/expense reimbursements made by the Investment Manager and certain of its affiliates, if applicable. |
(h) | The benefits derived from expense reductions had an impact of less than 0.01%. |
(i) | The benefits derived from expense reductions had an impact of 0.01%. |
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Table of Contents
Financial Highlights — Columbia Select Smaller-Cap Value Fund
Year Ended May 31, | Year Ended December 31, | |||||||||||||||||||||||
Class A | 2015 | 2014 | 2013 | 2012(a) | 2011 | 2010 | ||||||||||||||||||
Per share data | ||||||||||||||||||||||||
Net asset value, beginning of period | $ | 21.52 | $ | 18.82 | $ | 14.31 | $ | 13.69 | $ | 15.97 | $ | 12.59 | ||||||||||||
Income from investment operations: | ||||||||||||||||||||||||
Net investment loss | (0.14 | ) | (0.03 | ) | (0.11 | ) | (0.06 | ) | (0.12 | ) | (0.11 | ) | ||||||||||||
Net realized and unrealized gain (loss) | 2.28 | 4.17 | 5.06 | 0.68 | (1.40 | ) | 3.49 | |||||||||||||||||
Total from investment operations | 2.14 | 4.14 | 4.95 | 0.62 | (1.52 | ) | 3.38 | |||||||||||||||||
Less distributions to shareholders: | ||||||||||||||||||||||||
Net realized gains | (2.30 | ) | (1.44 | ) | (0.44 | ) | — | (0.76 | ) | — | ||||||||||||||
Total distributions to shareholders | (2.30 | ) | (1.44 | ) | (0.44 | ) | — | (0.76 | ) | — | ||||||||||||||
Proceeds from regulatory settlements | — | — | — | — | — | 0.00 | (b) | |||||||||||||||||
Net asset value, end of period | $ | 21.36 | $ | 21.52 | $ | 18.82 | $ | 14.31 | $ | 13.69 | $ | 15.97 | ||||||||||||
Total return | 11.21 | % | 22.30 | % | 35.23 | % | 4.53 | % | (9.42 | %) | 26.85 | %(c) | ||||||||||||
Ratios to average net assets(d) | ||||||||||||||||||||||||
Total gross expenses | 1.38 | % | 1.41 | % | 1.51 | % | 1.48 | %(e) | 1.48 | % | 1.66 | % | ||||||||||||
Total net expenses(f) | 1.38 | %(g) | 1.40 | %(g) | 1.39 | %(g) | 1.41 | %(e) | 1.42 | %(g) | 1.33 | % | ||||||||||||
Net investment loss | (0.67 | %) | (0.14 | %) | (0.67 | %) | (0.87 | %)(e) | (0.77 | %) | (0.84 | %) | ||||||||||||
Supplemental data | ||||||||||||||||||||||||
Net assets, end of period (in thousands) | $ | 397,847 | $ | 387,317 | $ | 325,677 | $ | 283,740 | $ | 295,973 | $ | 380,848 | ||||||||||||
Portfolio turnover | 26 | % | 22 | % | 9 | % | 3 | % | 18 | % | 5 | % |
Notes to Financial Highlights
(a) | For the period from January 1, 2012 to May 31, 2012. During the period, the Fund’s fiscal year end was changed from December 31 to May 31. |
(b) | Rounds to zero. |
(c) | The Fund received proceeds from regulatory settlements. Had the Fund not received these proceeds, the total return would have been lower by 0.01%. |
(d) | In addition to the fees and expenses that the Fund bears directly, the Fund indirectly bears a pro rata share of the fees and expenses of any other funds in which it invests. Such indirect expenses are not included in the Fund’s reported expense ratios. |
(e) | Annualized. |
(f) | Total net expenses include the impact of certain fee waivers/expense reimbursements made by the Investment Manager and certain of its affiliates, if applicable. |
(g) | The benefits derived from expense reductions had an impact of less than 0.01%. |
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Table of Contents
Financial Highlights — Columbia Select Smaller-Cap Value Fund
Year Ended May 31, | Year Ended December 31, | |||||||||||||||||||||||
Class B | 2015 | 2014 | 2013 | 2012(a) | 2011 | 2010 | ||||||||||||||||||
Per share data | ||||||||||||||||||||||||
Net asset value, beginning of period | $ | 17.97 | $ | 16.04 | $ | 12.34 | $ | 11.84 | $ | 14.04 | $ | 11.15 | ||||||||||||
Income from investment operations: | ||||||||||||||||||||||||
Net investment loss | (0.25 | ) | (0.16 | ) | (0.19 | ) | (0.09 | ) | (0.21 | ) | (0.19 | ) | ||||||||||||
Net realized and unrealized gain (loss) | 1.85 | 3.53 | 4.33 | 0.59 | (1.23 | ) | 3.08 | |||||||||||||||||
Total from investment operations | 1.60 | 3.37 | 4.14 | 0.50 | (1.44 | ) | 2.89 | |||||||||||||||||
Less distributions to shareholders: | ||||||||||||||||||||||||
Net realized gains | (2.30 | ) | (1.44 | ) | (0.44 | ) | — | (0.76 | ) | — | ||||||||||||||
Total distributions to shareholders | (2.30 | ) | (1.44 | ) | (0.44 | ) | — | (0.76 | ) | — | ||||||||||||||
Proceeds from regulatory settlements | — | — | — | — | — | 0.00 | (b) | |||||||||||||||||
Net asset value, end of period | $ | 17.27 | $ | 17.97 | $ | 16.04 | $ | 12.34 | $ | 11.84 | $ | 14.04 | ||||||||||||
Total return | 10.36 | % | 21.33 | % | 34.28 | % | 4.22 | % | (10.15 | %) | 25.92 | %(c) | ||||||||||||
Ratios to average net assets(d) | ||||||||||||||||||||||||
Total gross expenses | 2.13 | % | 2.16 | % | 2.26 | % | 2.23 | %(e) | 2.23 | % | 2.43 | % | ||||||||||||
Total net expenses(f) | 2.13 | %(g) | 2.15 | %(g) | 2.14 | %(g) | 2.16 | %(e) | 2.16 | %(g) | 2.10 | % | ||||||||||||
Net investment loss | (1.41 | %) | (0.92 | %) | (1.41 | %) | (1.62 | %)(e) | (1.52 | %) | (1.62 | %) | ||||||||||||
Supplemental data | ||||||||||||||||||||||||
Net assets, end of period (in thousands) | $ | 3,894 | $ | 5,782 | $ | 8,356 | $ | 12,565 | $ | 13,501 | $ | 27,172 | ||||||||||||
Portfolio turnover | 26 | % | 22 | % | 9 | % | 3 | % | 18 | % | 5 | % |
Notes to Financial Highlights
(a) | For the period from January 1, 2012 to May 31, 2012. During the period, the Fund’s fiscal year end was changed from December 31 to May 31. |
(b) | Rounds to zero. |
(c) | The Fund received proceeds from regulatory settlements. Had the Fund not received these proceeds, the total return would have been lower by 0.01%. |
(d) | In addition to the fees and expenses that the Fund bears directly, the Fund indirectly bears a pro rata share of the fees and expenses of any other funds in which it invests. Such indirect expenses are not included in the Fund’s reported expense ratios. |
(e) | Annualized. |
(f) | Total net expenses include the impact of certain fee waivers/expense reimbursements made by the Investment Manager and certain of its affiliates, if applicable. |
(g) | The benefits derived from expense reductions had an impact of less than 0.01%. |
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Table of Contents
Financial Highlights — Columbia Select Smaller-Cap Value Fund
Year Ended May 31, | Year Ended December 31, | |||||||||||||||||||||||
Class C | 2015 | 2014 | 2013 | 2012(a) | 2011 | 2010 | ||||||||||||||||||
Per share data | ||||||||||||||||||||||||
Net asset value, beginning of period | $ | 18.00 | $ | 16.06 | $ | 12.36 | $ | 11.86 | $ | 14.06 | $ | 11.17 | ||||||||||||
Income from investment operations: | ||||||||||||||||||||||||
Net investment loss | (0.25 | ) | (0.16 | ) | (0.19 | ) | (0.09 | ) | (0.21 | ) | (0.19 | ) | ||||||||||||
Net realized and unrealized gain (loss) | 1.85 | 3.54 | 4.33 | 0.59 | (1.23 | ) | 3.08 | |||||||||||||||||
Total from investment operations | 1.60 | 3.38 | 4.14 | 0.50 | (1.44 | ) | 2.89 | |||||||||||||||||
Less distributions to shareholders: | ||||||||||||||||||||||||
Net realized gains | (2.30 | ) | (1.44 | ) | (0.44 | ) | — | (0.76 | ) | — | ||||||||||||||
Total distributions to shareholders | (2.30 | ) | (1.44 | ) | (0.44 | ) | — | (0.76 | ) | — | ||||||||||||||
Proceeds from regulatory settlements | — | — | — | — | — | 0.00 | (b) | |||||||||||||||||
Net asset value, end of period | $ | 17.30 | $ | 18.00 | $ | 16.06 | $ | 12.36 | $ | 11.86 | $ | 14.06 | ||||||||||||
Total return | 10.35 | % | 21.37 | % | 34.23 | % | 4.22 | % | (10.13 | %) | 25.87 | %(c) | ||||||||||||
Ratios to average net assets(d) | ||||||||||||||||||||||||
Total gross expenses | 2.13 | % | 2.16 | % | 2.26 | % | 2.23 | %(e) | 2.23 | % | 2.42 | % | ||||||||||||
Total net expenses(f) | 2.13 | %(g) | 2.15 | %(g) | 2.14 | %(g) | 2.16 | %(e) | 2.17 | %(g) | 2.09 | % | ||||||||||||
Net investment loss | (1.42 | %) | (0.91 | %) | (1.42 | %) | (1.63 | %)(e) | (1.52 | %) | (1.60 | %) | ||||||||||||
Supplemental data | ||||||||||||||||||||||||
Net assets, end of period (in thousands) | $ | 43,974 | $ | 43,354 | $ | 38,785 | $ | 33,327 | $ | 37,511 | $ | 51,712 | ||||||||||||
Portfolio turnover | 26 | % | 22 | % | 9 | % | 3 | % | 18 | % | 5 | % |
Notes to Financial Highlights
(a) | For the period from January 1, 2012 to May 31, 2012. During the period, the Fund’s fiscal year end was changed from December 31 to May 31. |
(b) | Rounds to zero. |
(c) | The Fund received proceeds from regulatory settlements. Had the Fund not received these proceeds, the total return would have been lower by 0.01%. |
(d) | In addition to the fees and expenses that the Fund bears directly, the Fund indirectly bears a pro rata share of the fees and expenses of any other funds in which it invests. Such indirect expenses are not included in the Fund’s reported expense ratios. |
(e) | Annualized. |
(f) | Total net expenses include the impact of certain fee waivers/expense reimbursements made by the Investment Manager and certain of its affiliates, if applicable. |
(g) | The benefits derived from expense reductions had an impact of less than 0.01%. |
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Table of Contents
Financial Highlights — Columbia Select Smaller-Cap Value Fund
Year Ended May 31, | Year Ended December 31, | |||||||||||||||||||||||
Class I | 2015 | 2014 | 2013 | 2012(a) | 2011 | 2010 | ||||||||||||||||||
Per share data | ||||||||||||||||||||||||
Net asset value, beginning of period | $ | 23.57 | $ | 20.41 | $ | 15.41 | $ | 14.71 | $ | 17.02 | $ | 13.35 | ||||||||||||
Income from investment operations: | ||||||||||||||||||||||||
Net investment income (loss) | (0.05 | ) | 0.07 | (0.04 | ) | (0.03 | ) | (0.04 | ) | (0.05 | ) | |||||||||||||
Net realized and unrealized gain (loss) | 2.53 | 4.53 | 5.48 | 0.73 | (1.51 | ) | 3.72 | |||||||||||||||||
Total from investment operations | 2.48 | 4.60 | 5.44 | 0.70 | (1.55 | ) | 3.67 | |||||||||||||||||
Less distributions to shareholders: | ||||||||||||||||||||||||
Net realized gains | (2.30 | ) | (1.44 | ) | (0.44 | ) | — | (0.76 | ) | — | ||||||||||||||
Total distributions to shareholders | (2.30 | ) | (1.44 | ) | (0.44 | ) | — | (0.76 | ) | — | ||||||||||||||
Proceeds from regulatory settlements | — | — | — | — | — | 0.00 | (b) | |||||||||||||||||
Net asset value, end of period | $ | 23.75 | $ | 23.57 | $ | 20.41 | $ | 15.41 | $ | 14.71 | $ | 17.02 | ||||||||||||
Total return | 11.70 | % | 22.83 | % | 35.91 | % | 4.76 | % | (9.01 | %) | 27.49 | %(c) | ||||||||||||
Ratios to average net assets(d) | ||||||||||||||||||||||||
Total gross expenses | 0.93 | % | 0.93 | % | 0.96 | % | 0.98 | %(e) | 0.94 | % | 1.09 | % | ||||||||||||
Total net expenses(f) | 0.93 | % | 0.93 | % | 0.93 | % | 0.94 | %(e) | 0.91 | % | 0.88 | % | ||||||||||||
Net investment income (loss) | (0.22 | %) | 0.32 | % | (0.21 | %) | (0.38 | %)(e) | (0.24 | %) | (0.38 | %) | ||||||||||||
Supplemental data | ||||||||||||||||||||||||
Net assets, end of period (in thousands) | $ | 22,479 | $ | 22,829 | $ | 26,109 | $ | 20,764 | $ | 14,419 | $ | 10,145 | ||||||||||||
Portfolio turnover | 26 | % | 22 | % | 9 | % | 3 | % | 18 | % | 5 | % |
Notes to Financial Highlights
(a) | For the period from January 1, 2012 to May 31, 2012. During the period, the Fund’s fiscal year end was changed from December 31 to May 31. |
(b) | Rounds to zero. |
(c) | The Fund received proceeds from regulatory settlements. Had the Fund not received these proceeds, the total return would have been lower by 0.01%. |
(d) | In addition to the fees and expenses that the Fund bears directly, the Fund indirectly bears a pro rata share of the fees and expenses of any other funds in which it invests. Such indirect expenses are not included in the Fund’s reported expense ratios. |
(e) | Annualized. |
(f) | Total net expenses include the impact of certain fee waivers/expense reimbursements made by the Investment Manager and certain of its affiliates, if applicable. |
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Financial Highlights — Columbia Select Smaller-Cap Value Fund
Year Ended May 31, | Year Ended December 31, | |||||||||||||||||||||||
Class K | 2015 | 2014 | 2013 | 2012(a) | 2011 | 2010 | ||||||||||||||||||
Per share data | ||||||||||||||||||||||||
Net asset value, beginning of period | $ | 23.20 | $ | 20.17 | $ | 15.28 | $ | 14.60 | $ | 16.94 | $ | 13.34 | ||||||||||||
Income from investment operations: | ||||||||||||||||||||||||
Net investment income (loss) | (0.12 | ) | 0.01 | (0.09 | ) | (0.04 | ) | (0.09 | ) | (0.10 | ) | |||||||||||||
Net realized and unrealized gain (loss) | 2.49 | 4.46 | 5.42 | 0.72 | (1.49 | ) | 3.70 | |||||||||||||||||
Total from investment operations | 2.37 | 4.47 | 5.33 | 0.68 | (1.58 | ) | 3.60 | |||||||||||||||||
Less distributions to shareholders: | ||||||||||||||||||||||||
Net realized gains | (2.30 | ) | (1.44 | ) | (0.44 | ) | — | (0.76 | ) | — | ||||||||||||||
Total distributions to shareholders | (2.30 | ) | (1.44 | ) | (0.44 | ) | — | (0.76 | ) | — | ||||||||||||||
Proceeds from regulatory settlements | — | — | — | — | — | 0.00 | (b) | |||||||||||||||||
Net asset value, end of period | $ | 23.27 | $ | 23.20 | $ | 20.17 | $ | 15.28 | $ | 14.60 | $ | 16.94 | ||||||||||||
Total return | 11.39 | % | 22.45 | % | 35.49 | % | 4.66 | % | (9.23 | %) | 26.99 | %(c) | ||||||||||||
Ratios to average net assets(d) | ||||||||||||||||||||||||
Total gross expenses | 1.23 | % | 1.23 | % | 1.26 | % | 1.23 | %(e) | 1.22 | % | 1.39 | % | ||||||||||||
Total net expenses(f) | 1.23 | % | 1.23 | % | 1.23 | % | 1.20 | %(e) | 1.18 | % | 1.18 | % | ||||||||||||
Net investment income (loss) | (0.52 | %) | 0.05 | % | (0.51 | %) | (0.65 | %)(e) | (0.53 | %) | (0.69 | %) | ||||||||||||
Supplemental data | ||||||||||||||||||||||||
Net assets, end of period (in thousands) | $ | 7,323 | $ | 6,809 | $ | 5,083 | $ | 3,812 | $ | 3,642 | $ | 3,601 | ||||||||||||
Portfolio turnover | 26 | % | 22 | % | 9 | % | 3 | % | 18 | % | 5 | % |
Notes to Financial Highlights
(a) | For the period from January 1, 2012 to May 31, 2012. During the period, the Fund’s fiscal year end was changed from December 31 to May 31. |
(b) | Rounds to zero. |
(c) | The Fund received proceeds from regulatory settlements. Had the Fund not received these proceeds, the total return would have been lower by 0.01%. |
(d) | In addition to the fees and expenses that the Fund bears directly, the Fund indirectly bears a pro rata share of the fees and expenses of any other funds in which it invests. Such indirect expenses are not included in the Fund’s reported expense ratios. |
(e) | Annualized. |
(f) | Total net expenses include the impact of certain fee waivers/expense reimbursements made by the Investment Manager and certain of its affiliates, if applicable. |
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Financial Highlights — Columbia Select Smaller-Cap Value Fund
Year Ended May 31, | Year Ended December 31, | |||||||||||||||||||||||
Class R | 2015 | 2014 | 2013 | 2012(a) | 2011 | 2010 | ||||||||||||||||||
Per share data | ||||||||||||||||||||||||
Net asset value, beginning of period | $ | 20.77 | $ | 18.25 | $ | 13.92 | $ | 13.33 | $ | 15.62 | $ | 12.35 | ||||||||||||
Income from investment operations: | ||||||||||||||||||||||||
Net investment loss | (0.19 | ) | (0.08 | ) | (0.14 | ) | (0.07 | ) | (0.16 | ) | (0.16 | ) | ||||||||||||
Net realized and unrealized gain (loss) | 2.18 | 4.04 | 4.91 | 0.66 | (1.37 | ) | 3.43 | |||||||||||||||||
Total from investment operations | 1.99 | 3.96 | 4.77 | 0.59 | (1.53 | ) | 3.27 | |||||||||||||||||
Less distributions to shareholders: | ||||||||||||||||||||||||
Net realized gains | (2.30 | ) | (1.44 | ) | (0.44 | ) | — | (0.76 | ) | — | ||||||||||||||
Total distributions to shareholders | (2.30 | ) | (1.44 | ) | (0.44 | ) | — | (0.76 | ) | — | ||||||||||||||
Proceeds from regulatory settlements | — | — | — | — | — | 0.00 | (b) | |||||||||||||||||
Net asset value, end of period | $ | 20.46 | $ | 20.77 | $ | 18.25 | $ | 13.92 | $ | 13.33 | $ | 15.62 | ||||||||||||
Total return | 10.87 | % | 22.01 | % | 34.92 | % | 4.43 | % | (9.69 | %) | 26.48 | %(c) | ||||||||||||
Ratios to average net assets(d) | ||||||||||||||||||||||||
Total gross expenses | 1.63 | % | 1.66 | % | 1.76 | % | 1.73 | %(e) | 1.73 | % | 1.87 | % | ||||||||||||
Total net expenses(f) | 1.63 | %(g) | 1.65 | %(g) | 1.64 | %(g) | 1.67 | %(e) | 1.67 | %(g) | 1.66 | % | ||||||||||||
Net investment loss | (0.92 | %) | (0.40 | %) | (0.92 | %) | (1.14 | %)(e) | (1.02 | %) | (1.16 | %) | ||||||||||||
Supplemental data | ||||||||||||||||||||||||
Net assets, end of period (in thousands) | $ | 11,772 | $ | 11,933 | $ | 10,684 | $ | 9,248 | $ | 11,156 | $ | 15,733 | ||||||||||||
Portfolio turnover | 26 | % | 22 | % | 9 | % | 3 | % | 18 | % | 5 | % |
Notes to Financial Highlights
(a) | For the period from January 1, 2012 to May 31, 2012. During the period, the Fund’s fiscal year end was changed from December 31 to May 31. |
(b) | Rounds to zero. |
(c) | The Fund received proceeds from regulatory settlements. Had the Fund not received these proceeds, the total return would have been lower by 0.01%. |
(d) | In addition to the fees and expenses that the Fund bears directly, the Fund indirectly bears a pro rata share of the fees and expenses of any other funds in which it invests. Such indirect expenses are not included in the Fund’s reported expense ratios. |
(e) | Annualized. |
(f) | Total net expenses include the impact of certain fee waivers/expense reimbursements made by the Investment Manager and certain of its affiliates, if applicable. |
(g) | The benefits derived from expense reductions had an impact of less than 0.01%. |
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Financial Highlights — Columbia Select Smaller-Cap Value Fund
Year Ended May 31, | ||||||||||||
Class R4 | 2015 | 2014 | 2013(a) | |||||||||
Per share data | ||||||||||||
Net asset value, beginning of period | $ | 23.63 | $ | 20.49 | $ | 15.99 | ||||||
Income from investment operations: | ||||||||||||
Net investment income (loss) | (0.10 | ) | 0.02 | (0.04 | ) | |||||||
Net realized and unrealized gain | 2.53 | 4.56 | 4.98 | |||||||||
Total from investment operations | 2.43 | 4.58 | 4.94 | |||||||||
Less distributions to shareholders: | ||||||||||||
Net realized gains | (2.30 | ) | (1.44 | ) | (0.44 | ) | ||||||
Total distributions to shareholders | (2.30 | ) | (1.44 | ) | (0.44 | ) | ||||||
Net asset value, end of period | $ | 23.76 | $ | 23.63 | $ | 20.49 | ||||||
Total return | 11.45 | % | 22.64 | % | 31.47 | % | ||||||
Ratios to average net assets(b) | ||||||||||||
Total gross expenses | 1.13 | % | 1.16 | % | 1.27 | %(c) | ||||||
Total net expenses(d) | 1.13 | %(e) | 1.15 | %(e) | 1.14 | %(c) | ||||||
Net investment income (loss) | (0.44 | %) | 0.07 | % | (0.37 | %)(c) | ||||||
Supplemental data | ||||||||||||
Net assets, end of period (in thousands) | $ | 486 | $ | 123 | $ | 3 | ||||||
Portfolio turnover | 26 | % | 22 | % | 9 | % |
Notes to Financial Highlights
(a) | Based on operations from November 8, 2012 (commencement of operations) through the stated period end. |
(b) | In addition to the fees and expenses that the Fund bears directly, the Fund indirectly bears a pro rata share of the fees and expenses of any other funds in which it invests. Such indirect expenses are not included in the Fund’s reported expense ratios. |
(c) | Annualized. |
(d) | Total net expenses include the impact of certain fee waivers/expense reimbursements made by the Investment Manager and certain of its affiliates, if applicable. |
(e) | The benefits derived from expense reductions had an impact of less than 0.01%. |
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Financial Highlights — Columbia Select Smaller-Cap Value Fund
Year Ended May 31, | Year Ended December 31, | |||||||||||||||||||||||
Class R5 | 2015 | 2014 | 2013 | 2012(a) | 2011 | 2010 | ||||||||||||||||||
Per share data | ||||||||||||||||||||||||
Net asset value, beginning of period | $ | 23.49 | $ | 20.35 | $ | 15.40 | $ | 14.70 | $ | 17.01 | $ | 13.35 | ||||||||||||
Income from investment operations: | ||||||||||||||||||||||||
Net investment income (loss) | (0.07 | ) | 0.07 | (0.05 | ) | (0.03 | ) | (0.05 | ) | (0.06 | ) | |||||||||||||
Net realized and unrealized gain (loss) | 2.53 | 4.51 | 5.44 | 0.73 | (1.50 | ) | 3.72 | |||||||||||||||||
Total from investment operations | 2.46 | 4.58 | 5.39 | 0.70 | (1.55 | ) | 3.66 | |||||||||||||||||
Less distributions to shareholders: | ||||||||||||||||||||||||
Net realized gains | (2.30 | ) | (1.44 | ) | (0.44 | ) | — | (0.76 | ) | — | ||||||||||||||
Total distributions to shareholders | (2.30 | ) | (1.44 | ) | (0.44 | ) | — | (0.76 | ) | — | ||||||||||||||
Proceeds from regulatory settlements | — | — | — | — | — | 0.00 | (b) | |||||||||||||||||
Net asset value, end of period | $ | 23.65 | $ | 23.49 | $ | 20.35 | $ | 15.40 | $ | 14.70 | $ | 17.01 | ||||||||||||
Total return | 11.65 | % | 22.80 | % | 35.60 | % | 4.76 | % | (9.02 | %) | 27.42 | %(c) | ||||||||||||
Ratios to average net assets(d) | ||||||||||||||||||||||||
Total gross expenses | 0.98 | % | 0.98 | % | 0.98 | % | 0.98 | %(e) | 0.97 | % | 1.14 | % | ||||||||||||
Total net expenses(f) | 0.98 | % | 0.98 | % | 0.98 | % | 0.95 | %(e) | 0.93 | % | 0.93 | % | ||||||||||||
Net investment income (loss) | (0.29 | %) | 0.32 | % | (0.31 | %) | (0.41 | %)(e) | (0.28 | %) | (0.44 | %) | ||||||||||||
Supplemental data | ||||||||||||||||||||||||
Net assets, end of period (in thousands) | $ | 2,188 | $ | 630 | $ | 352 | $ | 2,145 | $ | 2,046 | $ | 2,289 | ||||||||||||
Portfolio turnover | 26 | % | 22 | % | 9 | % | 3 | % | 18 | % | 5 | % |
Notes to Financial Highlights
(a) | For the period from January 1, 2012 to May 31, 2012. During the period, the Fund’s fiscal year end was changed from December 31 to May 31. |
(b) | Rounds to zero. |
(c) | The Fund received proceeds from regulatory settlements. Had the Fund not received these proceeds, the total return would have been lower by 0.01%. |
(d) | In addition to the fees and expenses that the Fund bears directly, the Fund indirectly bears a pro rata share of the fees and expenses of any other funds in which it invests. Such indirect expenses are not included in the Fund’s reported expense ratios. |
(e) | Annualized. |
(f) | Total net expenses include the impact of certain fee waivers/expense reimbursements made by the Investment Manager and certain of its affiliates, if applicable. |
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Financial Highlights — Columbia Select Smaller-Cap Value Fund
Class Y | Year Ended May 31, 2015(a) | |||
Per share data | ||||
Net asset value, beginning of period | $ | 23.11 | ||
Income from investment operations: | ||||
Net investment loss | (0.02 | ) | ||
Net realized and unrealized gain | 3.42 | |||
Total from investment operations | 3.40 | |||
Less distributions to shareholders: | ||||
Net realized gains | (2.30 | ) | ||
Total distributions to shareholders | (2.30 | ) | ||
Net asset value, end of period | $ | 24.21 | ||
Total return | 15.90 | % | ||
Ratios to average net assets(b) | ||||
Total gross expenses | 0.88 | %(c) | ||
Total net expenses(d) | 0.88 | %(c) | ||
Net investment loss | (0.15 | %)(c) | ||
Supplemental data | ||||
Net assets, end of period (in thousands) | $ | 3 | ||
Portfolio turnover | 26 | % |
Notes to Financial Highlights
(a) | Based on operations from October 1, 2014 (commencement of operations) through the stated period end. |
(b) | In addition to the fees and expenses that the Fund bears directly, the Fund indirectly bears a pro rata share of the fees and expenses of any other funds in which it invests. Such indirect expenses are not included in the Fund’s reported expense ratios. |
(c) | Annualized. |
(d) | Total net expenses include the impact of certain fee waivers/expense reimbursements made by the Investment Manager and certain of its affiliates, if applicable. |
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Financial Highlights — Columbia Select Smaller-Cap Value Fund
Year Ended May 31, | Year Ended December 31, | |||||||||||||||||||||||
Class Z | 2015 | 2014 | 2013 | 2012(a) | 2011 | 2010(b) | ||||||||||||||||||
Per share data | ||||||||||||||||||||||||
Net asset value, beginning of period | $ | 23.37 | $ | 20.28 | $ | 15.35 | $ | 14.67 | $ | 17.01 | $ | 14.61 | ||||||||||||
Income from investment operations: | ||||||||||||||||||||||||
Net investment income (loss) | (0.10 | ) | 0.05 | (0.07 | ) | (0.04 | ) | (0.08 | ) | (0.01 | ) | |||||||||||||
Net realized and unrealized gain (loss) | 2.50 | 4.48 | 5.44 | 0.72 | (1.50 | ) | 2.41 | |||||||||||||||||
Total from investment operations | 2.40 | 4.53 | 5.37 | 0.68 | (1.58 | ) | 2.40 | |||||||||||||||||
Less distributions to shareholders: | ||||||||||||||||||||||||
Net realized gains | (2.30 | ) | (1.44 | ) | (0.44 | ) | — | (0.76 | ) | — | ||||||||||||||
Total distributions to shareholders | (2.30 | ) | (1.44 | ) | (0.44 | ) | — | (0.76 | ) | — | ||||||||||||||
Net asset value, end of period | $ | 23.47 | $ | 23.37 | $ | 20.28 | $ | 15.35 | $ | 14.67 | $ | 17.01 | ||||||||||||
Total return | 11.44 | % | 22.63 | % | 35.59 | % | 4.63 | % | (9.19 | %) | 16.43 | % | ||||||||||||
Ratios to average net assets(c) | ||||||||||||||||||||||||
Total gross expenses | 1.13 | % | 1.16 | % | 1.26 | % | 1.23 | %(d) | 1.20 | % | 1.55 | %(d) | ||||||||||||
Total net expenses(e) | 1.13 | %(f) | 1.15 | %(f) | 1.14 | %(f) | 1.16 | %(d) | 1.19 | %(f) | 1.02 | %(d) | ||||||||||||
Net investment income (loss) | (0.44 | %) | 0.22 | % | (0.42 | %) | (0.62 | %)(d) | (0.50 | %) | (0.34 | %)(d) | ||||||||||||
Supplemental data | ||||||||||||||||||||||||
Net assets, end of period (in thousands) | $ | 18,605 | $ | 7,019 | $ | 3,467 | $ | 2,417 | $ | 1,892 | $ | 133 | ||||||||||||
Portfolio turnover | 26 | % | 22 | % | 9 | % | 3 | % | 18 | % | 5 | % |
Notes to Financial Highlights
(a) | For the period from January 1, 2012 to May 31, 2012. During the period, the Fund’s fiscal year end was changed from December 31 to May 31. |
(b) | Based on operations from September 27, 2010 (commencement of operations) through the stated period end. |
(c) | In addition to the fees and expenses that the Fund bears directly, the Fund indirectly bears a pro rata share of the fees and expenses of any other funds in which it invests. Such indirect expenses are not included in the Fund’s reported expense ratios. |
(d) | Annualized. |
(e) | Total net expenses include the impact of certain fee waivers/expense reimbursements made by the Investment Manager and certain of its affiliates, if applicable. |
(f) | The benefits derived from expense reductions had an impact of less than 0.01%. |
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Financial Highlights — Columbia Overseas Value Fund
Six Months Ended August 31, 2015 | Year Ended February 28, | |||||||||||
Class A | (Unaudited) | 2015 | 2014(a) | |||||||||
Per share data | ||||||||||||
Net asset value, beginning of period | $ | 8.65 | $ | 9.20 | $ | 7.65 | ||||||
Income from investment operations: | ||||||||||||
Net investment income | 0.15 | 0.20 | 0.19 | |||||||||
Net realized and unrealized gain (loss) | (0.42 | ) | (0.49 | ) | 1.49 | |||||||
Total from investment operations | (0.27 | ) | (0.29 | ) | 1.68 | |||||||
Less distributions to shareholders: | ||||||||||||
Net investment income | — | (0.26 | ) | (0.13 | ) | |||||||
Tax return of capital | — | (0.00 | )(b) | — | ||||||||
Total distributions to shareholders | — | (0.26 | ) | (0.13 | ) | |||||||
Net asset value, end of period | $ | 8.38 | $ | 8.65 | $ | 9.20 | ||||||
Total return | (3.12 | %) | (2.92 | %) | 22.10 | % | ||||||
Ratios to average net assets(c) | ||||||||||||
Total gross expenses | 1.42 | %(d) | 1.40 | % | 1.71 | % | ||||||
Total net expenses(e) | 1.42 | %(d)(f) | 1.40 | %(f) | 1.41 | %(f) | ||||||
Net investment income | 3.31 | %(d) | 2.32 | % | 2.22 | % | ||||||
Supplemental data | ||||||||||||
Net assets, end of period (in thousands) | $ | 183,258 | $ | 188,171 | $ | 219,133 | ||||||
Portfolio turnover | 41 | % | 74 | % | 63 | % |
Notes to Financial Highlights
(a) | Based on operations from February 28, 2013 (commencement of operations) through the stated period end. |
(b) | Rounds to zero. |
(c) | In addition to the fees and expenses that the Fund bears directly, the Fund indirectly bears a pro rata share of the fees and expenses of any other funds in which it invests. Such indirect expenses are not included in the Fund’s reported expense ratios. |
(d) | Annualized. |
(e) | Total net expenses include the impact of certain fee waivers/expense reimbursements made by the Investment Manager and certain of its affiliates, if applicable. |
(f) | The benefits derived from expense reductions had an impact of less than 0.01%. |
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Financial Highlights — Columbia Overseas Value Fund
Six Months Ended August 31, 2015 | Year Ended February 28, | |||||||||||
Class B | (Unaudited) | 2015 | 2014(a) | |||||||||
Per share data | ||||||||||||
Net asset value, beginning of period | $ | 8.64 | $ | 9.18 | $ | 7.65 | ||||||
Income from investment operations: | ||||||||||||
Net investment income | 0.12 | 0.15 | 0.14 | |||||||||
Net realized and unrealized gain (loss) | (0.42 | ) | (0.49 | ) | 1.47 | |||||||
Total from investment operations | (0.30 | ) | (0.34 | ) | 1.61 | |||||||
Less distributions to shareholders: | ||||||||||||
Net investment income | — | (0.20 | ) | (0.08 | ) | |||||||
Tax return of capital | — | (0.00 | )(b) | — | ||||||||
Total distributions to shareholders | — | (0.20 | ) | (0.08 | ) | |||||||
Net asset value, end of period | $ | 8.34 | $ | 8.64 | $ | 9.18 | ||||||
Total return | (3.47 | %) | (3.60 | %) | 21.13 | % | ||||||
Ratios to average net assets(c) | ||||||||||||
Total gross expenses | 2.17 | %(d) | 2.15 | % | 2.47 | % | ||||||
Total net expenses(e) | 2.17 | %(d)(f) | 2.15 | %(f) | 2.16 | %(f) | ||||||
Net investment income | 2.75 | %(d) | 1.74 | % | 1.66 | % | ||||||
Supplemental data | ||||||||||||
Net assets, end of period (in thousands) | $ | 2,962 | $ | 5,202 | $ | 9,662 | ||||||
Portfolio turnover | 41 | % | 74 | % | 63 | % |
Notes to Financial Highlights
(a) | Based on operations from February 28, 2013 (commencement of operations) through the stated period end. |
(b) | Rounds to zero. |
(c) | In addition to the fees and expenses that the Fund bears directly, the Fund indirectly bears a pro rata share of the fees and expenses of any other funds in which it invests. Such indirect expenses are not included in the Fund’s reported expense ratios. |
(d) | Annualized. |
(e) | Total net expenses include the impact of certain fee waivers/expense reimbursements made by the Investment Manager and certain of its affiliates, if applicable. |
(f) | The benefits derived from expense reductions had an impact of less than 0.01%. |
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Financial Highlights — Columbia Overseas Value Fund
Six Months Ended August 31, 2015 | Year Ended February 28, | |||||||||||
Class C | (Unaudited) | 2015 | 2014(a) | |||||||||
Per share data | ||||||||||||
Net asset value, beginning of period | $ | 8.64 | $ | 9.18 | $ | 7.65 | ||||||
Income from investment operations: | ||||||||||||
Net investment income | 0.11 | 0.13 | 0.12 | |||||||||
Net realized and unrealized gain (loss) | (0.41 | ) | (0.47 | ) | 1.49 | |||||||
Total from investment operations | (0.30 | ) | (0.34 | ) | 1.61 | |||||||
Less distributions to shareholders: | ||||||||||||
Net investment income | — | (0.20 | ) | (0.08 | ) | |||||||
Tax return of capital | — | (0.00 | )(b) | — | ||||||||
Total distributions to shareholders | — | (0.20 | ) | (0.08 | ) | |||||||
Net asset value, end of period | $ | 8.34 | $ | 8.64 | $ | 9.18 | ||||||
Total return | (3.47 | %) | (3.60 | %) | 21.13 | % | ||||||
Ratios to average net assets(c) | ||||||||||||
Total gross expenses | 2.17 | %(d) | 2.16 | % | 2.46 | % | ||||||
Total net expenses(e) | 2.17 | %(d)(f) | 2.16 | %(f) | 2.16 | %(f) | ||||||
Net investment income | 2.55 | %(d) | 1.54 | % | 1.46 | % | ||||||
Supplemental data | ||||||||||||
Net assets, end of period (in thousands) | $ | 4,683 | $ | 4,597 | $ | 4,843 | ||||||
Portfolio turnover | 41 | % | 74 | % | 63 | % |
Notes to Financial Highlights
(a) | Based on operations from February 28, 2013 (commencement of operations) through the stated period end. |
(b) | Rounds to zero. |
(c) | In addition to the fees and expenses that the Fund bears directly, the Fund indirectly bears a pro rata share of the fees and expenses of any other funds in which it invests. Such indirect expenses are not included in the Fund’s reported expense ratios. |
(d) | Annualized. |
(e) | Total net expenses include the impact of certain fee waivers/expense reimbursements made by the Investment Manager and certain of its affiliates, if applicable. |
(f) | The benefits derived from expense reductions had an impact of less than 0.01%. |
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Table of Contents
Financial Highlights — Columbia Overseas Value Fund
Six Months Ended August 31, 2015 | Year Ended February 28, | Year Ended February 29, | ||||||||||||||||||
Class I | (Unaudited) | 2015 | 2014 | 2013 | 2012(a) | |||||||||||||||
Per share data | ||||||||||||||||||||
Net asset value, beginning of period | $ | 8.65 | $ | 9.20 | $ | 7.65 | $ | 7.22 | $ | 7.87 | ||||||||||
Income from investment operations: | ||||||||||||||||||||
Net investment income | 0.17 | 0.24 | 0.20 | 0.20 | 0.22 | |||||||||||||||
Net realized and unrealized gain (loss) | (0.42 | ) | (0.48 | ) | 1.51 | 0.40 | (0.62 | ) | ||||||||||||
Total from investment operations | (0.25 | ) | (0.24 | ) | 1.71 | 0.60 | (0.40 | ) | ||||||||||||
Less distributions to shareholders: | ||||||||||||||||||||
Net investment income | — | (0.31 | ) | (0.16 | ) | (0.17 | ) | (0.25 | ) | |||||||||||
Tax return of capital | — | (0.00 | )(b) | — | — | — | ||||||||||||||
Total distributions to shareholders | — | (0.31 | ) | (0.16 | ) | (0.17 | ) | (0.25 | ) | |||||||||||
Net asset value, end of period | $ | 8.40 | $ | 8.65 | $ | 9.20 | $ | 7.65 | $ | 7.22 | ||||||||||
Total return | (2.89 | %) | (2.43 | %) | 22.55 | % | 8.49 | % | (4.55 | %) | ||||||||||
Ratios to average net assets(c) | ||||||||||||||||||||
Total gross expenses | 0.92 | %(d) | 0.92 | % | 1.04 | % | 1.33 | % | 1.76 | %(d) | ||||||||||
Total net expenses(e) | 0.92 | %(d) | 0.92 | % | 0.98 | % | 1.07 | % | 0.84 | %(d) | ||||||||||
Net investment income | 3.76 | %(d) | 2.73 | % | 2.36 | % | 2.78 | % | 3.37 | %(d) | ||||||||||
Supplemental data | ||||||||||||||||||||
Net assets, end of period (in thousands) | $ | 297,543 | $ | 285,957 | $ | 98,706 | $ | 26,514 | $ | 28,376 | ||||||||||
Portfolio turnover | 41 | % | 74 | % | 63 | % | 46 | % | 96 | % |
Notes to Financial Highlights
(a) | Based on operations from March 31, 2011 (commencement of operations) through the stated period end. |
(b) | Rounds to zero. |
(c) | In addition to the fees and expenses that the Fund bears directly, the Fund indirectly bears a pro rata share of the fees and expenses of any other funds in which it invests. Such indirect expenses are not included in the Fund’s reported expense ratios. |
(d) | Annualized. |
(e) | Total net expenses include the impact of certain fee waivers/expense reimbursements made by the Investment Manager and certain of its affiliates, if applicable. |
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Financial Highlights — Columbia Overseas Value Fund
Six Months Ended August 31, 2015 | Year Ended February 28, | |||||||||||
Class K | (Unaudited) | 2015 | 2014(a) | |||||||||
Per share data | ||||||||||||
Net asset value, beginning of period | $ | 8.65 | $ | 9.20 | $ | 7.65 | ||||||
Income from investment operations: | ||||||||||||
Net investment income | 0.16 | 0.22 | 0.20 | |||||||||
Net realized and unrealized gain (loss) | (0.42 | ) | (0.49 | ) | 1.49 | |||||||
Total from investment operations | (0.26 | ) | (0.27 | ) | 1.69 | |||||||
Less distributions to shareholders: | ||||||||||||
Net investment income | — | (0.28 | ) | (0.14 | ) | |||||||
Tax return of capital | — | (0.00 | )(b) | — | ||||||||
Total distributions to shareholders | — | (0.28 | ) | (0.14 | ) | |||||||
Net asset value, end of period | $ | 8.39 | $ | 8.65 | $ | 9.20 | ||||||
Total return | (3.01 | %) | (2.73 | %) | 22.25 | % | ||||||
Ratios to average net assets(c) | ||||||||||||
Total gross expenses | 1.22 | %(d) | 1.22 | % | 1.33 | % | ||||||
Total net expenses(e) | 1.22 | %(d) | 1.22 | % | 1.26 | % | ||||||
Net investment income | 3.62 | %(d) | 2.49 | % | 2.39 | % | ||||||
Supplemental data | ||||||||||||
Net assets, end of period (in thousands) | $ | 145 | $ | 172 | $ | 197 | ||||||
Portfolio turnover | 41 | % | 74 | % | 63 | % |
Notes to Financial Highlights
(a) | Based on operations from February 28, 2013 (commencement of operations) through the stated period end. |
(b) | Rounds to zero. |
(c) | In addition to the fees and expenses that the Fund bears directly, the Fund indirectly bears a pro rata share of the fees and expenses of any other funds in which it invests. Such indirect expenses are not included in the Fund’s reported expense ratios. |
(d) | Annualized. |
(e) | Total net expenses include the impact of certain fee waivers/expense reimbursements made by the Investment Manager and certain of its affiliates, if applicable. |
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Financial Highlights — Columbia Overseas Value Fund
Class R4 | Six Months Ended August 31, 2015(a) (Unaudited) | |||
Per share data | ||||
Net asset value, beginning of period | $ | 8.78 | ||
Income from investment operations: | ||||
Net investment income | 0.03 | |||
Net realized and unrealized loss | (0.45 | ) | ||
Total from investment operations | (0.42 | ) | ||
Net asset value, end of period | $ | 8.36 | ||
Total return | (4.78 | %) | ||
Ratios to average net assets(b) | ||||
Total gross expenses | 1.16 | %(c) | ||
Total net expenses(d) | 1.16 | %(c)(e) | ||
Net investment income | 1.85 | %(c) | ||
Supplemental data | ||||
Net assets, end of period (in thousands) | $ | 2 | ||
Portfolio turnover | 41 | % |
Notes to Financial Highlights
(a) | Based on operations from July 1, 2015 (commencement of operations) through the stated period end. |
(b) | In addition to the fees and expenses that the Fund bears directly, the Fund indirectly bears a pro rata share of the fees and expenses of any other funds in which it invests. Such indirect expenses are not included in the Fund’s reported expense ratios. |
(c) | Annualized. |
(d) | Total net expenses include the impact of certain fee waivers/expense reimbursements made by the Investment Manager and certain of its affiliates, if applicable. |
(e) | The benefits derived from expense reductions had an impact of less than 0.01%. |
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Financial Highlights — Columbia Overseas Value Fund
Class R5 | Six Months Ended August 31, 2015(a) (Unaudited) | |||
Per share data | ||||
Net asset value, beginning of period | $ | 8.78 | ||
Income from investment operations: | ||||
Net investment income | 0.03 | |||
Net realized and unrealized loss | (0.45 | ) | ||
Total from investment operations | (0.42 | ) | ||
Net asset value, end of period | $ | 8.36 | ||
Total return | (4.78 | %) | ||
Ratios to average net assets(b) | ||||
Total gross expenses | 0.95 | %(c) | ||
Total net expenses(d) | 0.95 | %(c) | ||
Net investment income | 2.06 | %(c) | ||
Supplemental data | ||||
Net assets, end of period (in thousands) | $ | 2 | ||
Portfolio turnover | 41 | % |
Notes to Financial Highlights
(a) | Based on operations from July 1, 2015 (commencement of operations) through the stated period end. |
(b) | In addition to the fees and expenses that the Fund bears directly, the Fund indirectly bears a pro rata share of the fees and expenses of any other funds in which it invests. Such indirect expenses are not included in the Fund’s reported expense ratios. |
(c) | Annualized. |
(d) | Total net expenses include the impact of certain fee waivers/expense reimbursements made by the Investment Manager and certain of its affiliates, if applicable. |
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Financial Highlights — Columbia Overseas Value Fund
Six Months Ended August 31, 2015 | Year Ended February 28, | Year Ended February 29, | ||||||||||||||||||
Class W | (Unaudited) | 2015 | 2014 | 2013 | 2012(a) | |||||||||||||||
Per share data | ||||||||||||||||||||
Net asset value, beginning of period | $ | 8.64 | $ | 9.19 | $ | 7.65 | $ | 7.22 | $ | 7.87 | ||||||||||
Income from investment operations: | ||||||||||||||||||||
Net investment income | 0.15 | 0.21 | 0.19 | 0.17 | 0.22 | |||||||||||||||
Net realized and unrealized gain (loss) | (0.41 | ) | (0.50 | ) | 1.48 | 0.42 | (0.64 | ) | ||||||||||||
Total from investment operations | (0.26 | ) | (0.29 | ) | 1.67 | 0.59 | (0.42 | ) | ||||||||||||
Less distributions to shareholders: | ||||||||||||||||||||
Net investment income | — | (0.26 | ) | (0.13 | ) | (0.16 | ) | (0.23 | ) | |||||||||||
Tax return of capital | — | (0.00 | )(b) | — | — | — | ||||||||||||||
Total distributions to shareholders | — | (0.26 | ) | (0.13 | ) | (0.16 | ) | (0.23 | ) | |||||||||||
Net asset value, end of period | $ | 8.38 | $ | 8.64 | $ | 9.19 | $ | 7.65 | $ | 7.22 | ||||||||||
Total return | (3.01 | %) | (2.93 | %) | 21.97 | % | 8.24 | % | (4.81 | %) | ||||||||||
Ratios to average net assets(c) | ||||||||||||||||||||
Total gross expenses | 1.42 | %(d) | 1.40 | % | 1.63 | % | 1.58 | % | 2.09 | %(d) | ||||||||||
Total net expenses(e) | 1.42 | %(d)(f) | 1.40 | %(f) | 1.41 | %(f) | 1.33 | % | 1.12 | %(d) | ||||||||||
Net investment income | 3.43 | %(d) | 2.41 | % | 2.21 | % | 2.46 | % | 3.24 | %(d) | ||||||||||
Supplemental data | ||||||||||||||||||||
Net assets, end of period (in thousands) | $ | 149,247 | $ | 208,707 | $ | 303,273 | $ | 2 | $ | 2 | ||||||||||
Portfolio turnover | 41 | % | 74 | % | 63 | % | 46 | % | 96 | % |
Notes to Financial Highlights
(a) | Based on operations from March 31, 2011 (commencement of operations) through the stated period end. |
(b) | Rounds to zero. |
(c) | In addition to the fees and expenses that the Fund bears directly, the Fund indirectly bears a pro rata share of the fees and expenses of any other funds in which it invests. Such indirect expenses are not included in the Fund’s reported expense ratios. |
(d) | Annualized. |
(e) | Total net expenses include the impact of certain fee waivers/expense reimbursements made by the Investment Manager and certain of its affiliates, if applicable. |
(f) | The benefits derived from expense reductions had an impact of less than 0.01%. |
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Financial Highlights — Columbia Overseas Value Fund
Class Y | Six Months Ended August 31, 2015(a) (Unaudited) | |||
Per share data | ||||
Net asset value, beginning of period | $ | 8.78 | ||
Income from investment operations: | ||||
Net investment income | 0.03 | |||
Net realized and unrealized loss | (0.44 | ) | ||
Total from investment operations | (0.41 | ) | ||
Net asset value, end of period | $ | 8.37 | ||
Total return | (4.67 | %) | ||
Ratios to average net assets(b) | ||||
Total gross expenses | 0.90 | %(c) | ||
Total net expenses(d) | 0.90 | %(c) | ||
Net investment income | 2.11 | %(c) | ||
Supplemental data | ||||
Net assets, end of period (in thousands) | $ | 2 | ||
Portfolio turnover | 41 | % |
Notes to Financial Highlights
(a) | Based on operations from July 1, 2015 (commencement of operations) through the stated period end. |
(b) | In addition to the fees and expenses that the Fund bears directly, the Fund indirectly bears a pro rata share of the fees and expenses of any other funds in which it invests. Such indirect expenses are not included in the Fund’s reported expense ratios. |
(c) | Annualized. |
(d) | Total net expenses include the impact of certain fee waivers/expense reimbursements made by the Investment Manager and certain of its affiliates, if applicable. |
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Financial Highlights — Columbia Overseas Value Fund
Six Months Ended August 31, 2015 (Unaudited) | Year Ended February 28, | Year Ended February 29, 2012 | Year Ended February 28, 2011 | |||||||||||||||||||||
Class Z | 2015 | 2014 | 2013 | |||||||||||||||||||||
Per share data | ||||||||||||||||||||||||
Net asset value, beginning of period | $ | 8.66 | $ | 9.20 | $ | 7.66 | $ | 7.23 | $ | 8.00 | $ | 6.98 | ||||||||||||
Income from investment operations: | ||||||||||||||||||||||||
Net investment income | 0.17 | 0.23 | 0.40 | 0.19 | 0.32 | 0.16 | ||||||||||||||||||
Net realized and unrealized gain (loss) | (0.43 | ) | (0.48 | ) | 1.29 | 0.41 | (0.85 | ) | 1.01 | |||||||||||||||
Total from investment operations | (0.26 | ) | (0.25 | ) | 1.69 | 0.60 | (0.53 | ) | 1.17 | |||||||||||||||
Less distributions to shareholders: | ||||||||||||||||||||||||
Net investment income | — | (0.29 | ) | (0.15 | ) | (0.17 | ) | (0.24 | ) | (0.15 | ) | |||||||||||||
Tax return of capital | — | (0.00 | )(a) | — | — | — | — | |||||||||||||||||
Total distributions to shareholders | — | (0.29 | ) | (0.15 | ) | (0.17 | ) | (0.24 | ) | (0.15 | ) | |||||||||||||
Net asset value, end of period | $ | 8.40 | $ | 8.66 | $ | 9.20 | $ | 7.66 | $ | 7.23 | $ | 8.00 | ||||||||||||
Total return | (3.00 | %) | (2.56 | %) | 22.19 | % | 8.45 | % | (6.17 | %) | 17.06 | % | ||||||||||||
Ratios to average net assets(b) | ||||||||||||||||||||||||
Total gross expenses | 1.17 | %(c) | 1.16 | % | 1.52 | % | 1.32 | % | 1.87 | % | 3.65 | % | ||||||||||||
Total net expenses(d) | 1.17 | %(c)(e) | 1.16 | %(e) | 1.21 | %(e) | 1.07 | % | 0.98 | % | 1.15 | %(e) | ||||||||||||
Net investment income | 3.93 | %(c) | 2.64 | % | 4.97 | % | 2.72 | % | 3.80 | % | 2.18 | % | ||||||||||||
Supplemental data | ||||||||||||||||||||||||
Net assets, end of period (in thousands) | $ | 570 | $ | 340 | $ | 88 | $ | 2,680 | $ | 2,521 | $ | 8,690 | ||||||||||||
Portfolio turnover | 41 | % | 74 | % | 63 | % | 46 | % | 96 | % | 48 | % |
Notes to Financial Highlights
(a) | Rounds to zero. |
(b) | In addition to the fees and expenses that the Fund bears directly, the Fund indirectly bears a pro rata share of the fees and expenses of any other funds in which it invests. Such indirect expenses are not included in the Fund’s reported expense ratios. |
(c) | Annualized. |
(d) | Total net expenses include the impact of certain fee waivers/expense reimbursements made by the Investment Manager and certain of its affiliates, if applicable. |
(e) | The benefits derived from expense reductions had an impact of less than 0.01%. |
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Financial Highlights — Columbia Select International Equity Fund
Six Months Ended August 31, 2015 | Year Ended February 28, | Year Ended February 29, | Year Ended February 28, | |||||||||||||||||||||
Class A | (Unaudited) | 2015 | 2014 | 2013 | 2012 | 2011 | ||||||||||||||||||
Per share data | ||||||||||||||||||||||||
Net asset value, beginning of period | $ | 13.69 | $ | 13.88 | $ | 12.02 | $ | 11.68 | $ | 12.46 | $ | 10.68 | ||||||||||||
Income from investment operations: | ||||||||||||||||||||||||
Net investment income | 0.08 | 0.12 | 0.15 | 0.17 | 0.14 | 0.14 | ||||||||||||||||||
Net realized and unrealized gain (loss) | (0.89 | ) | (0.32 | ) | 1.71 | 0.56 | (0.94 | ) | 1.85 | |||||||||||||||
Total from investment operations | (0.81 | ) | (0.20 | ) | 1.86 | 0.73 | (0.80 | ) | 1.99 | |||||||||||||||
Less distributions to shareholders: | ||||||||||||||||||||||||
Net investment income | — | — | — | (0.39 | ) | — | (0.21 | ) | ||||||||||||||||
Total distributions to shareholders | — | — | — | (0.39 | ) | — | (0.21 | ) | ||||||||||||||||
Proceeds from regulatory settlements | 0.06 | 0.01 | — | — | 0.02 | 0.00 | (a) | |||||||||||||||||
Net asset value, end of period | $ | 12.94 | $ | 13.69 | $ | 13.88 | $ | 12.02 | $ | 11.68 | $ | 12.46 | ||||||||||||
Total return | (5.48 | %)(b) | (1.37 | %)(c) | 15.47 | % | 6.41 | % | (6.26 | %)(d) | 18.80 | % | ||||||||||||
Ratios to average net assets(e) | ||||||||||||||||||||||||
Total gross expenses | 1.44 | %(f)(g) | 1.49 | % | 1.42 | %(g) | 1.39 | %(g) | 1.36 | % | 1.33 | %(g) | ||||||||||||
Total net expenses(h) | 1.43 | %(f)(g)(i) | 1.47 | %(i) | 1.42 | %(g)(i) | 1.38 | %(g)(i) | 1.32 | %(i) | 1.33 | %(g)(i) | ||||||||||||
Net investment income | 1.16 | %(f) | 0.94 | % | 1.20 | % | 1.46 | % | 1.20 | % | 1.27 | % | ||||||||||||
Supplemental data | ||||||||||||||||||||||||
Net assets, end of period (in thousands) | $ | 248,620 | $ | 274,993 | $ | 316,823 | $ | 313,239 | $ | 356,708 | $ | 24,668 | ||||||||||||
Portfolio turnover | 101 | % | 96 | % | 125 | % | 100 | % | 112 | % | 92 | % |
Notes to Financial Highlights
(a) | Rounds to zero. |
(b) | The Fund received proceeds from regulatory settlements. Had the Fund not received these proceeds, the total return would have been lower by 0.44%. |
(c) | The Fund received proceeds from regulatory settlements. Had the Fund not received these proceeds, the total return would have been lower by 0.10%. |
(d) | The Fund received proceeds from regulatory settlements. Had the Fund not received these proceeds, the total return would have been lower by 0.19%. |
(e) | In addition to the fees and expenses that the Fund bears directly, the Fund indirectly bears a pro rata share of the fees and expenses of any other funds in which it invests. Such indirect expenses are not included in the Fund’s reported expense ratios. |
(f) | Annualized. |
(g) | Ratios include line of credit interest expense which is less than 0.01%. |
(h) | Total net expenses include the impact of certain fee waivers/expense reimbursements made by the Investment Manager and certain of its affiliates, if applicable. |
(i) | The benefits derived from expense reductions had an impact of less than 0.01%. |
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Financial Highlights — Columbia Select International Equity Fund
Six Months Ended August 31, 2015 | Year Ended February 28, | Year Ended February 29, | Year Ended February 28, | |||||||||||||||||||||
Class B | (Unaudited) | 2015 | 2014 | 2013 | 2012 | 2011 | ||||||||||||||||||
Per share data | ||||||||||||||||||||||||
Net asset value, beginning of period | $ | 12.23 | $ | 12.50 | $ | 10.90 | $ | 10.55 | $ | 11.34 | $ | 9.75 | ||||||||||||
Income from investment operations: | ||||||||||||||||||||||||
Net investment income | 0.03 | 0.04 | 0.06 | 0.09 | 0.06 | 0.07 | ||||||||||||||||||
Net realized and unrealized gain (loss) | (0.80 | ) | (0.32 | ) | 1.54 | 0.49 | (0.87 | ) | 1.66 | |||||||||||||||
Total from investment operations | (0.77 | ) | (0.28 | ) | 1.60 | 0.58 | (0.81 | ) | 1.73 | |||||||||||||||
Less distributions to shareholders: | ||||||||||||||||||||||||
Net investment income | — | — | — | (0.23 | ) | — | (0.14 | ) | ||||||||||||||||
Total distributions to shareholders | — | — | — | (0.23 | ) | — | (0.14 | ) | ||||||||||||||||
Proceeds from regulatory settlements | 0.05 | 0.01 | — | — | 0.02 | 0.00 | (a) | |||||||||||||||||
Net asset value, end of period | $ | 11.51 | $ | 12.23 | $ | 12.50 | $ | 10.90 | $ | 10.55 | $ | 11.34 | ||||||||||||
Total return | (5.89 | %)(b) | (2.16 | %)(c) | 14.68 | % | 5.59 | % | (6.97 | %)(d) | 17.88 | % | ||||||||||||
Ratios to average net assets(e) | ||||||||||||||||||||||||
Total gross expenses | 2.19 | %(f)(g) | 2.24 | % | 2.17 | %(g) | 2.13 | %(g) | 2.11 | % | 2.08 | %(g) | ||||||||||||
Total net expenses(h) | 2.18 | %(f)(g)(i) | 2.22 | %(i) | 2.17 | %(g)(i) | 2.12 | %(g)(i) | 2.06 | %(i) | 2.08 | %(g)(i) | ||||||||||||
Net investment income | 0.52 | %(f) | 0.33 | % | 0.52 | % | 0.91 | % | 0.62 | % | 0.70 | % | ||||||||||||
Supplemental data | ||||||||||||||||||||||||
Net assets, end of period (in thousands) | $ | 1,475 | $ | 2,296 | $ | 4,260 | $ | 6,566 | $ | 11,838 | $ | 784 | ||||||||||||
Portfolio turnover | 101 | % | 96 | % | 125 | % | 100 | % | 112 | % | 92 | % |
Notes to Financial Highlights
(a) | Rounds to zero. |
(b) | The Fund received proceeds from regulatory settlements. Had the Fund not received these proceeds, the total return would have been lower by 0.44%. |
(c) | The Fund received proceeds from regulatory settlements. Had the Fund not received these proceeds, the total return would have been lower by 0.10%. |
(d) | The Fund received proceeds from regulatory settlements. Had the Fund not received these proceeds, the total return would have been lower by 0.20%. |
(e) | In addition to the fees and expenses that the Fund bears directly, the Fund indirectly bears a pro rata share of the fees and expenses of any other funds in which it invests. Such indirect expenses are not included in the Fund’s reported expense ratios. |
(f) | Annualized. |
(g) | Ratios include line of credit interest expense which is less than 0.01%. |
(h) | Total net expenses include the impact of certain fee waivers/expense reimbursements made by the Investment Manager and certain of its affiliates, if applicable. |
(i) | The benefits derived from expense reductions had an impact of less than 0.01%. |
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Financial Highlights — Columbia Select International Equity Fund
Six Months Ended August 31, 2015 | Year Ended February 28, | Year Ended February 29, | Year Ended February 28, | |||||||||||||||||||||
Class C | (Unaudited) | 2015 | 2014 | 2013 | 2012 | 2011 | ||||||||||||||||||
Per share data | ||||||||||||||||||||||||
Net asset value, beginning of period | $ | 12.08 | $ | 12.34 | $ | 10.77 | $ | 10.42 | $ | 11.20 | $ | 9.63 | ||||||||||||
Income from investment operations: | ||||||||||||||||||||||||
Net investment income | 0.02 | 0.02 | 0.05 | 0.07 | 0.05 | 0.07 | ||||||||||||||||||
Net realized and unrealized gain (loss) | (0.78 | ) | (0.29 | ) | 1.52 | 0.51 | (0.85 | ) | 1.64 | |||||||||||||||
Total from investment operations | (0.76 | ) | (0.27 | ) | 1.57 | 0.58 | (0.80 | ) | 1.71 | |||||||||||||||
Less distributions to shareholders: | ||||||||||||||||||||||||
Net investment income | — | — | — | (0.23 | ) | — | (0.14 | ) | ||||||||||||||||
Total distributions to shareholders | — | — | — | (0.23 | ) | — | (0.14 | ) | ||||||||||||||||
Proceeds from regulatory settlements | 0.05 | 0.01 | — | — | 0.02 | 0.00 | (a) | |||||||||||||||||
Net asset value, end of period | $ | 11.37 | $ | 12.08 | $ | 12.34 | $ | 10.77 | $ | 10.42 | $ | 11.20 | ||||||||||||
Total return | (5.88 | %)(b) | (2.11 | %)(c) | 14.58 | % | 5.64 | % | (6.96 | %)(d) | 17.89 | % | ||||||||||||
Ratios to average net assets(e) | ||||||||||||||||||||||||
Total gross expenses | 2.19 | %(f)(g) | 2.24 | % | 2.17 | %(g) | 2.14 | %(g) | 2.10 | % | 2.08 | %(g) | ||||||||||||
Total net expenses(h) | 2.18 | %(f)(g)(i) | 2.22 | %(i) | 2.17 | %(g)(i) | 2.13 | %(g)(i) | 2.07 | %(i) | 2.08 | %(g)(i) | ||||||||||||
Net investment income | 0.41 | %(f) | 0.19 | % | 0.45 | % | 0.72 | % | 0.48 | % | 0.72 | % | ||||||||||||
Supplemental data | ||||||||||||||||||||||||
Net assets, end of period (in thousands) | $ | 9,861 | $ | 11,042 | $ | 12,562 | $ | 12,619 | $ | 15,058 | $ | 1,272 | ||||||||||||
Portfolio turnover | 101 | % | 96 | % | 125 | % | 100 | % | 112 | % | 92 | % |
Notes to Financial Highlights
(a) | Rounds to zero. |
(b) | The Fund received proceeds from regulatory settlements. Had the Fund not received these proceeds, the total return would have been lower by 0.44%. |
(c) | The Fund received proceeds from regulatory settlements. Had the Fund not received these proceeds, the total return would have been lower by 0.10%. |
(d) | The Fund received proceeds from regulatory settlements. Had the Fund not received these proceeds, the total return would have been lower by 0.19%. |
(e) | In addition to the fees and expenses that the Fund bears directly, the Fund indirectly bears a pro rata share of the fees and expenses of any other funds in which it invests. Such indirect expenses are not included in the Fund’s reported expense ratios. |
(f) | Annualized. |
(g) | Ratios include line of credit interest expense which is less than 0.01%. |
(h) | Total net expenses include the impact of certain fee waivers/expense reimbursements made by the Investment Manager and certain of its affiliates, if applicable. |
(i) | The benefits derived from expense reductions had an impact of less than 0.01%. |
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Six Months Ended August 31, 2015 | Year Ended February 28, | Year Ended February 29, | Year Ended February 28, | |||||||||||||||||||||
Class I | (Unaudited) | 2015 | 2014 | 2013 | 2012 | 2011(a) | ||||||||||||||||||
Per share data | ||||||||||||||||||||||||
Net asset value, beginning of period | $ | 14.03 | $ | 14.15 | $ | 12.20 | $ | 11.89 | $ | 12.62 | $ | 11.64 | ||||||||||||
Income from investment operations: | ||||||||||||||||||||||||
Net investment income | 0.11 | 0.27 | 0.30 | 0.22 | 0.22 | 0.02 | ||||||||||||||||||
Net realized and unrealized gain (loss) | (0.91 | ) | (0.40 | ) | 1.65 | 0.58 | (0.97 | ) | 1.21 | |||||||||||||||
Total from investment operations | (0.80 | ) | (0.13 | ) | 1.95 | 0.80 | (0.75 | ) | 1.23 | |||||||||||||||
Less distributions to shareholders: | ||||||||||||||||||||||||
Net investment income | — | — | — | (0.49 | ) | — | (0.25 | ) | ||||||||||||||||
Total distributions to shareholders | — | — | — | (0.49 | ) | — | (0.25 | ) | ||||||||||||||||
Proceeds from regulatory settlements | 0.06 | 0.01 | — | — | 0.02 | 0.00 | (b) | |||||||||||||||||
Net asset value, end of period | $ | 13.29 | $ | 14.03 | $ | 14.15 | $ | 12.20 | $ | 11.89 | $ | 12.62 | ||||||||||||
Total return | (5.27 | %)(c) | (0.85 | %)(d) | 15.98 | % | 6.96 | % | (5.78 | %)(e) | 10.69 | % | ||||||||||||
Ratios to average net assets(f) | ||||||||||||||||||||||||
Total gross expenses | 1.00 | %(g)(h) | 0.95 | % | 0.93 | %(h) | 0.93 | %(h) | 0.84 | % | 0.95 | %(g)(h) | ||||||||||||
Total net expenses(i) | 0.98 | %(g)(h) | 0.95 | % | 0.93 | %(h) | 0.93 | %(h) | 0.84 | % | 0.95 | %(g)(h)(j) | ||||||||||||
Net investment income | 1.59 | %(g) | 1.98 | % | 2.38 | % | 1.90 | % | 1.87 | % | 0.32 | %(g) | ||||||||||||
Supplemental data | ||||||||||||||||||||||||
Net assets, end of period (in thousands) | $ | 3 | $ | 3 | $ | 19 | $ | 24,204 | $ | 78,467 | $ | 47,056 | ||||||||||||
Portfolio turnover | 101 | % | 96 | % | 125 | % | 100 | % | 112 | % | 92 | % |
Notes to Financial Highlights
(a) | Based on operations from September 27, 2010 (commencement of operations) through the stated period end. |
(b) | Rounds to zero. |
(c) | The Fund received proceeds from regulatory settlements. Had the Fund not received these proceeds, the total return would have been lower by 0.44%. |
(d) | The Fund received proceeds from regulatory settlements. Had the Fund not received these proceeds, the total return would have been lower by 0.10%. |
(e) | The Fund received proceeds from regulatory settlements. Had the Fund not received these proceeds, the total return would have been lower by 0.19%. |
(f) | In addition to the fees and expenses that the Fund bears directly, the Fund indirectly bears a pro rata share of the fees and expenses of any other funds in which it invests. Such indirect expenses are not included in the Fund’s reported expense ratios. |
(g) | Annualized. |
(h) | Ratios include line of credit interest expense which is less than 0.01%. |
(i) | Total net expenses include the impact of certain fee waivers/expense reimbursements made by the Investment Manager and certain of its affiliates, if applicable. |
(j) | The benefits derived from expense reductions had an impact of less than 0.01%. |
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Financial Highlights — Columbia Select International Equity Fund
Six Months Ended August 31, 2015 | Year Ended February 28, | Year Ended February 29, | ||||||||||||||||||
Class K | (Unaudited) | 2015 | 2014 | 2013 | 2012(a) | |||||||||||||||
Per share data | ||||||||||||||||||||
Net asset value, beginning of period | $ | 13.95 | $ | 14.11 | $ | 12.20 | $ | 11.85 | $ | 12.54 | ||||||||||
Income from investment operations: | ||||||||||||||||||||
Net investment income | 0.11 | 0.15 | 0.17 | 0.18 | 0.15 | |||||||||||||||
Net realized and unrealized gain (loss) | (0.93 | ) | (0.32 | ) | 1.74 | 0.58 | (0.86 | ) | ||||||||||||
Total from investment operations | (0.82 | ) | (0.17 | ) | 1.91 | 0.76 | (0.71 | ) | ||||||||||||
Less distributions to shareholders: | ||||||||||||||||||||
Net investment income | — | — | — | (0.41 | ) | — | ||||||||||||||
Total distributions to shareholders | — | — | — | (0.41 | ) | — | ||||||||||||||
Proceeds from regulatory settlements | 0.06 | 0.01 | — | — | 0.02 | |||||||||||||||
Net asset value, end of period | $ | 13.19 | $ | 13.95 | $ | 14.11 | $ | 12.20 | $ | 11.85 | ||||||||||
Total return | (5.45 | %)(b) | (1.13 | %)(c) | 15.66 | % | 6.64 | % | (5.50 | %)(d) | ||||||||||
Ratios to average net assets(e) | ||||||||||||||||||||
Total gross expenses | 1.24 | %(f)(g) | 1.25 | % | 1.24 | %(g) | 1.24 | %(g) | 1.21 | %(f) | ||||||||||
Total net expenses(h) | 1.24 | %(f)(g) | 1.25 | % | 1.24 | %(g) | 1.24 | %(g) | 1.21 | %(f) | ||||||||||
Net investment income | 1.53 | %(f) | 1.12 | % | 1.32 | % | 1.61 | % | 1.33 | %(f) | ||||||||||
Supplemental data | ||||||||||||||||||||
Net assets, end of period (in thousands) | $ | 63 | $ | 103 | $ | 111 | $ | 122 | $ | 135 | ||||||||||
Portfolio turnover | 101 | % | 96 | % | 125 | % | 100 | % | 112 | % |
Notes to Financial Highlights
(a) | Based on operations from March 7, 2011 (commencement of operations) through the stated period end. |
(b) | The Fund received proceeds from regulatory settlements. Had the Fund not received these proceeds, the total return would have been lower by 0.44%. |
(c) | The Fund received proceeds from regulatory settlements. Had the Fund not received these proceeds, the total return would have been lower by 0.10%. |
(d) | The Fund received proceeds from regulatory settlements. Had the Fund not received these proceeds, the total return would have been lower by 0.19%. |
(e) | In addition to the fees and expenses that the Fund bears directly, the Fund indirectly bears a pro rata share of the fees and expenses of any other funds in which it invests. Such indirect expenses are not included in the Fund’s reported expense ratios. |
(f) | Annualized. |
(g) | Ratios include line of credit interest expense which is less than 0.01%. |
(h) | Total net expenses include the impact of certain fee waivers/expense reimbursements made by the Investment Manager and certain of its affiliates, if applicable. |
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Financial Highlights — Columbia Select International Equity Fund
Six Months Ended August 31, 2015 | Year Ended February 28, | Year Ended February 29, | Year Ended February 28, | |||||||||||||||||||||
Class R | (Unaudited) | 2015 | 2014 | 2013 | 2012 | 2011 | ||||||||||||||||||
Per share data | ||||||||||||||||||||||||
Net asset value, beginning of period | $ | 13.62 | $ | 13.84 | $ | 12.01 | $ | 11.64 | $ | 12.45 | $ | 10.68 | ||||||||||||
Income from investment operations: | ||||||||||||||||||||||||
Net investment income | 0.07 | 0.10 | 0.11 | 0.14 | 0.11 | 0.13 | ||||||||||||||||||
Net realized and unrealized gain (loss) | (0.89 | ) | (0.33 | ) | 1.72 | 0.57 | (0.94 | ) | 1.83 | |||||||||||||||
Total from investment operations | (0.82 | ) | (0.23 | ) | 1.83 | 0.71 | (0.83 | ) | 1.96 | |||||||||||||||
Less distributions to shareholders: | ||||||||||||||||||||||||
Net investment income | — | — | — | (0.34 | ) | — | (0.19 | ) | ||||||||||||||||
Total distributions to shareholders | — | — | — | (0.34 | ) | — | (0.19 | ) | ||||||||||||||||
Proceeds from regulatory settlements | 0.06 | 0.01 | — | — | 0.02 | 0.00 | (a) | |||||||||||||||||
Net asset value, end of period | $ | 12.86 | $ | 13.62 | $ | 13.84 | $ | 12.01 | $ | 11.64 | $ | 12.45 | ||||||||||||
Total return | (5.58 | %)(b) | (1.59 | %)(c) | 15.24 | % | 6.20 | % | (6.51 | %)(d) | 18.47 | % | ||||||||||||
Ratios to average net assets(e) | ||||||||||||||||||||||||
Total gross expenses | 1.69 | %(f)(g) | 1.74 | % | 1.67 | %(g) | 1.64 | %(g) | 1.62 | % | 1.58 | %(g) | ||||||||||||
Total net expenses(h) | 1.68 | %(f)(g)(i) | 1.72 | %(i) | 1.67 | %(g)(i) | 1.63 | %(g)(i) | 1.57 | %(i) | 1.58 | %(g)(i) | ||||||||||||
Net investment income | 0.96 | %(f) | 0.72 | % | 0.87 | % | 1.22 | % | 0.98 | % | 1.13 | % | ||||||||||||
Supplemental data | ||||||||||||||||||||||||
Net assets, end of period (in thousands) | $ | 1,339 | $ | 1,563 | $ | 1,632 | $ | 1,673 | $ | 1,899 | $ | 287 | ||||||||||||
Portfolio turnover | 101 | % | 96 | % | 125 | % | 100 | % | 112 | % | 92 | % |
Notes to Financial Highlights
(a) | Rounds to zero. |
(b) | The Fund received proceeds from regulatory settlements. Had the Fund not received these proceeds, the total return would have been lower by 0.44%. |
(c) | The Fund received proceeds from regulatory settlements. Had the Fund not received these proceeds, the total return would have been lower by 0.10%. |
(d) | The Fund received proceeds from regulatory settlements. Had the Fund not received these proceeds, the total return would have been lower by 0.19%. |
(e) | In addition to the fees and expenses that the Fund bears directly, the Fund indirectly bears a pro rata share of the fees and expenses of any other funds in which it invests. Such indirect expenses are not included in the Fund’s reported expense ratios. |
(f) | Annualized. |
(g) | Ratios include line of credit interest expense which is less than 0.01%. |
(h) | Total net expenses include the impact of certain fee waivers/expense reimbursements made by the Investment Manager and certain of its affiliates, if applicable. |
(i) | The benefits derived from expense reductions had an impact of less than 0.01%. |
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Six Months Ended August 31, 2015 | Year Ended February 28, | |||||||||||||||
Class R4 | (Unaudited) | 2015 | 2014 | 2013(a) | ||||||||||||
Per share data | ||||||||||||||||
Net asset value, beginning of period | $ | 14.04 | $ | 14.20 | $ | 12.27 | $ | 11.62 | ||||||||
Income from investment operations: | ||||||||||||||||
Net investment income | 0.09 | 0.24 | 0.18 | 0.02 | ||||||||||||
Net realized and unrealized gain (loss) | (0.91 | ) | (0.41 | ) | 1.75 | 0.92 | ||||||||||
Total from investment operations | (0.82 | ) | (0.17 | ) | 1.93 | 0.94 | ||||||||||
Less distributions to shareholders: | ||||||||||||||||
Net investment income | — | — | — | (0.29 | ) | |||||||||||
Total distributions to shareholders | — | — | — | (0.29 | ) | |||||||||||
Proceeds from regulatory settlements | 0.06 | 0.01 | — | — | ||||||||||||
Net asset value, end of period | $ | 13.28 | $ | 14.04 | $ | 14.20 | $ | 12.27 | ||||||||
Total return | (5.41 | %)(b) | (1.13 | %)(c) | 15.73 | % | 8.17 | % | ||||||||
Ratios to average net assets(d) | ||||||||||||||||
Total gross expenses | 1.22 | %(e)(f) | 1.25 | % | 1.19 | %(f) | 1.25 | %(e) | ||||||||
Total net expenses(g) | 1.20 | %(e)(f)(h) | 1.21 | %(i) | 1.19 | %(f)(h) | 1.25 | %(e) | ||||||||
Net investment income | 1.31 | %(e) | 1.77 | % | 1.35 | % | 0.55 | %(e) | ||||||||
Supplemental data | ||||||||||||||||
Net assets, end of period (in thousands) | $ | 9 | $ | 3 | $ | 7 | $ | 3 | ||||||||
Portfolio turnover | 101 | % | 96 | % | 125 | % | 100 | % |
Notes to Financial Highlights
(a) | Based on operations from November 8, 2012 (commencement of operations) through the stated period end. |
(b) | The Fund received proceeds from regulatory settlements. Had the Fund not received these proceeds, the total return would have been lower by 0.44%. |
(c) | The Fund received proceeds from regulatory settlements. Had the Fund not received these proceeds, the total return would have been lower by 0.10%. |
(d) | In addition to the fees and expenses that the Fund bears directly, the Fund indirectly bears a pro rata share of the fees and expenses of any other funds in which it invests. Such indirect expenses are not included in the Fund’s reported expense ratios. |
(e) | Annualized. |
(f) | Ratios include line of credit interest expense which is less than 0.01%. |
(g) | Total net expenses include the impact of certain fee waivers/expense reimbursements made by the Investment Manager and certain of its affiliates, if applicable. |
(h) | The benefits derived from expense reductions had an impact of less than 0.01%. |
(i) | The benefits derived from expense reductions had an impact of 0.01%. |
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Six Months Ended August 31, 2015 | Year Ended February 28, | |||||||||||||||
Class R5 | (Unaudited) | 2015 | 2014 | 2013(a) | ||||||||||||
Per share data | ||||||||||||||||
Net asset value, beginning of period | $ | 14.08 | $ | 14.21 | $ | 12.26 | $ | 11.62 | ||||||||
Income from investment operations: | ||||||||||||||||
Net investment income | 0.11 | 0.12 | 0.32 | 0.03 | ||||||||||||
Net realized and unrealized gain (loss) | (0.91 | ) | (0.26 | ) | 1.63 | 0.92 | ||||||||||
Total from investment operations | (0.80 | ) | (0.14 | ) | 1.95 | 0.95 | ||||||||||
Less distributions to shareholders: | ||||||||||||||||
Net investment income | — | — | — | (0.31 | ) | |||||||||||
Total distributions to shareholders | — | — | — | (0.31 | ) | |||||||||||
Proceeds from regulatory settlements | 0.06 | 0.01 | — | — | ||||||||||||
Net asset value, end of period | $ | 13.34 | $ | 14.08 | $ | 14.21 | $ | 12.26 | ||||||||
Total return | (5.26 | %)(b) | (0.91 | %)(c) | 15.91 | % | 8.20 | % | ||||||||
Ratios to average net assets(d) | ||||||||||||||||
Total gross expenses | 0.99 | %(e)(f) | 1.01 | % | 1.04 | %(f) | 1.05 | %(e) | ||||||||
Total net expenses(g) | 0.99 | %(e)(f) | 1.01 | % | 1.04 | %(f) | 1.05 | %(e) | ||||||||
Net investment income | 1.56 | %(e) | 0.86 | % | 2.45 | % | 0.75 | %(e) | ||||||||
Supplemental data | ||||||||||||||||
Net assets, end of period (in thousands) | $ | 39 | $ | 59 | $ | 14 | $ | 3 | ||||||||
Portfolio turnover | 101 | % | 96 | % | 125 | % | 100 | % |
Notes to Financial Highlights
(a) | Based on operations from November 8, 2012 (commencement of operations) through the stated period end. |
(b) | The Fund received proceeds from regulatory settlements. Had the Fund not received these proceeds, the total return would have been lower by 0.44%. |
(c) | The Fund received proceeds from regulatory settlements. Had the Fund not received these proceeds, the total return would have been lower by 0.10%. |
(d) | In addition to the fees and expenses that the Fund bears directly, the Fund indirectly bears a pro rata share of the fees and expenses of any other funds in which it invests. Such indirect expenses are not included in the Fund’s reported expense ratios. |
(e) | Annualized. |
(f) | Ratios include line of credit interest expense which is less than 0.01%. |
(g) | Total net expenses include the impact of certain fee waivers/expense reimbursements made by the Investment Manager and certain of its affiliates, if applicable. |
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Six Months Ended August 31, 2015 | Year Ended February 28, | Year Ended February 29, | Year Ended February 28, | |||||||||||||||||||||
Class W | (Unaudited) | 2015 | 2014 | 2013 | 2012 | 2011(a) | ||||||||||||||||||
Per share data | ||||||||||||||||||||||||
Net asset value, beginning of period | $ | 13.70 | $ | 13.88 | $ | 12.02 | $ | 11.68 | $ | 12.46 | $ | 11.48 | ||||||||||||
Income from investment operations: | ||||||||||||||||||||||||
Net investment income | 0.08 | 0.13 | 0.13 | 0.16 | 0.12 | 0.02 | ||||||||||||||||||
Net realized and unrealized gain (loss) | (0.90 | ) | (0.32 | ) | 1.73 | 0.57 | (0.92 | ) | 1.17 | |||||||||||||||
Total from investment operations | (0.82 | ) | (0.19 | ) | 1.86 | 0.73 | (0.80 | ) | 1.19 | |||||||||||||||
Less distributions to shareholders: | ||||||||||||||||||||||||
Net investment income | — | — | — | (0.39 | ) | — | (0.21 | ) | ||||||||||||||||
Total distributions to shareholders | — | — | — | (0.39 | ) | — | (0.21 | ) | ||||||||||||||||
Proceeds from regulatory settlements | 0.06 | 0.01 | — | — | 0.02 | 0.00 | (b) | |||||||||||||||||
Net asset value, end of period | $ | 12.94 | $ | 13.70 | $ | 13.88 | $ | 12.02 | $ | 11.68 | $ | 12.46 | ||||||||||||
Total return | (5.55 | %)(c) | (1.30 | %)(d) | 15.47 | % | 6.40 | % | (6.26 | %)(e) | 10.52 | % | ||||||||||||
Ratios to average net assets(f) | ||||||||||||||||||||||||
Total gross expenses | 1.44 | %(g)(h) | 1.48 | % | 1.41 | %(h) | 1.40 | %(h) | 1.38 | % | 1.30 | %(g)(h) | ||||||||||||
Total net expenses(i) | 1.43 | %(g)(h)(j) | 1.47 | %(j) | 1.41 | %(h)(j) | 1.39 | %(h)(j) | 1.33 | %(j) | 1.30 | %(g)(h)(j) | ||||||||||||
Net investment income | 1.18 | %(g) | 0.98 | % | 1.05 | % | 1.42 | % | 1.06 | % | 0.33 | %(g) | ||||||||||||
Supplemental data | ||||||||||||||||||||||||
Net assets, end of period (in thousands) | $ | 175,103 | $ | 205,715 | $ | 166,486 | $ | 270,144 | $ | 232,777 | $ | 3 | ||||||||||||
Portfolio turnover | 101 | % | 96 | % | 125 | % | 100 | % | 112 | % | 92 | % |
Notes to Financial Highlights
(a) | Based on operations from September 27, 2010 (commencement of operations) through the stated period end. |
(b) | Rounds to zero. |
(c) | The Fund received proceeds from regulatory settlements. Had the Fund not received these proceeds, the total return would have been lower by 0.44%. |
(d) | The Fund received proceeds from regulatory settlements. Had the Fund not received these proceeds, the total return would have been lower by 0.10%. |
(e) | The Fund received proceeds from regulatory settlements. Had the Fund not received these proceeds, the total return would have been lower by 0.19%. |
(f) | In addition to the fees and expenses that the Fund bears directly, the Fund indirectly bears a pro rata share of the fees and expenses of any other funds in which it invests. Such indirect expenses are not included in the Fund’s reported expense ratios. |
(g) | Annualized. |
(h) | Ratios include line of credit interest expense which is less than 0.01%. |
(i) | Total net expenses include the impact of certain fee waivers/expense reimbursements made by the Investment Manager and certain of its affiliates, if applicable. |
(j) | The benefits derived from expense reductions had an impact of less than 0.01%. |
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Six Months Ended August 31, 2015 | Year Ended February 28, | Year Ended February 29, | ||||||||||||||||||
Class Y | (Unaudited) | 2015 | 2014 | 2013 | 2012(a) | |||||||||||||||
Per share data | ||||||||||||||||||||
Net asset value, beginning of period | $ | 14.04 | $ | 14.16 | $ | 12.21 | $ | 11.89 | $ | 12.55 | ||||||||||
Income from investment operations: | ||||||||||||||||||||
Net investment income | 0.12 | 0.19 | 0.22 | 0.21 | 0.18 | |||||||||||||||
Net realized and unrealized gain (loss) | (0.92 | ) | (0.32 | ) | 1.73 | 0.59 | (0.86 | ) | ||||||||||||
Total from investment operations | (0.80 | ) | (0.13 | ) | 1.95 | 0.80 | (0.68 | ) | ||||||||||||
Less distributions to shareholders: | ||||||||||||||||||||
Net investment income | — | — | — | (0.48 | ) | — | ||||||||||||||
Total distributions to shareholders | — | — | — | (0.48 | ) | — | ||||||||||||||
Proceeds from regulatory settlements | 0.06 | 0.01 | — | — | 0.02 | |||||||||||||||
Net asset value, end of period | $ | 13.30 | $ | 14.04 | $ | 14.16 | $ | 12.21 | $ | 11.89 | ||||||||||
Total return | (5.27 | %)(b) | (0.85 | %)(c) | 15.97 | % | 6.98 | % | (5.26 | %)(d) | ||||||||||
Ratios to average net assets(e) | ||||||||||||||||||||
Total gross expenses | 0.95 | %(f)(g) | 0.96 | % | 0.94 | %(g) | 0.95 | %(g) | 0.88 | %(f) | ||||||||||
Total net expenses(h) | 0.95 | %(f)(g) | 0.96 | % | 0.94 | %(g) | 0.95 | %(g) | 0.88 | %(f) | ||||||||||
Net investment income | 1.63 | %(f) | 1.41 | % | 1.67 | % | 1.79 | % | 1.64 | %(f) | ||||||||||
Supplemental data | ||||||||||||||||||||
Net assets, end of period (in thousands) | $ | 14,745 | $ | 15,568 | $ | 15,701 | $ | 14,990 | $ | 12,780 | ||||||||||
Portfolio turnover | 101 | % | 96 | % | 125 | % | 100 | % | 112 | % |
Notes to Financial Highlights
(a) | Based on operations from March 7, 2011 (commencement of operations) through the stated period end. |
(b) | The Fund received proceeds from regulatory settlements. Had the Fund not received these proceeds, the total return would have been lower by 0.44%. |
(c) | The Fund received proceeds from regulatory settlements. Had the Fund not received these proceeds, the total return would have been lower by 0.10%. |
(d) | The Fund received proceeds from regulatory settlements. Had the Fund not received these proceeds, the total return would have been lower by 0.19%. |
(e) | In addition to the fees and expenses that the Fund bears directly, the Fund indirectly bears a pro rata share of the fees and expenses of any other funds in which it invests. Such indirect expenses are not included in the Fund’s reported expense ratios. |
(f) | Annualized. |
(g) | Ratios include line of credit interest expense which is less than 0.01%. |
(h) | Total net expenses include the impact of certain fee waivers/expense reimbursements made by the Investment Manager and certain of its affiliates, if applicable. |
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Financial Highlights — Columbia Select International Equity Fund
Six Months Ended August 31, 2015 | Year Ended February 28, | Year Ended February 29, | Year Ended February 28, | |||||||||||||||||||||
Class Z | (Unaudited) | 2015 | 2014 | 2013 | 2012 | 2011 | ||||||||||||||||||
Per share data | ||||||||||||||||||||||||
Net asset value, beginning of period | $ | 13.96 | $ | 14.11 | $ | 12.19 | $ | 11.86 | $ | 12.62 | $ | 10.81 | ||||||||||||
Income from investment operations: | ||||||||||||||||||||||||
Net investment income | 0.11 | 0.17 | 0.19 | 0.23 | 0.18 | 0.18 | ||||||||||||||||||
Net realized and unrealized gain (loss) | (0.93 | ) | (0.33 | ) | 1.73 | 0.54 | (0.96 | ) | 1.87 | |||||||||||||||
Total from investment operations | (0.82 | ) | (0.16 | ) | 1.92 | 0.77 | (0.78 | ) | 2.05 | |||||||||||||||
Less distributions to shareholders: | ||||||||||||||||||||||||
Net investment income | — | — | — | (0.44 | ) | — | (0.24 | ) | ||||||||||||||||
Total distributions to shareholders | — | — | — | (0.44 | ) | — | (0.24 | ) | ||||||||||||||||
Proceeds from regulatory settlements | 0.06 | 0.01 | — | — | 0.02 | 0.00 | (a) | |||||||||||||||||
Net asset value, end of period | $ | 13.20 | $ | 13.96 | $ | 14.11 | $ | 12.19 | $ | 11.86 | $ | 12.62 | ||||||||||||
Total return | (5.44 | %)(b) | (1.06 | %)(c) | 15.75 | % | 6.72 | % | (6.02 | %)(d) | 19.08 | % | ||||||||||||
Ratios to average net assets(e) | ||||||||||||||||||||||||
Total gross expenses | 1.18 | %(f)(g) | 1.24 | % | 1.17 | %(g) | 1.13 | %(g) | 1.11 | % | 1.08 | %(g) | ||||||||||||
Total net expenses(h) | 1.18 | %(f)(g)(i) | 1.22 | %(i) | 1.17 | %(g)(i) | 1.12 | %(g)(i) | 1.08 | %(i) | 1.08 | %(g)(i) | ||||||||||||
Net investment income | 1.58 | %(f) | 1.23 | % | 1.50 | % | 2.00 | % | 1.53 | % | 1.58 | % | ||||||||||||
Supplemental data | ||||||||||||||||||||||||
Net assets, end of period (in thousands) | $ | 90,759 | $ | 179,330 | $ | 237,249 | $ | 301,958 | $ | 1,093,867 | $ | 1,177,541 | ||||||||||||
Portfolio turnover | 101 | % | 96 | % | 125 | % | 100 | % | 112 | % | 92 | % |
Notes to Financial Highlights
(a) | Rounds to zero. |
(b) | The Fund received proceeds from regulatory settlements. Had the Fund not received these proceeds, the total return would have been lower by 0.44%. |
(c) | The Fund received proceeds from regulatory settlements. Had the Fund not received these proceeds, the total return would have been lower by 0.10%. |
(d) | The Fund received proceeds from regulatory settlements. Had the Fund not received these proceeds, the total return would have been lower by 0.19%. |
(e) | In addition to the fees and expenses that the Fund bears directly, the Fund indirectly bears a pro rata share of the fees and expenses of any other funds in which it invests. Such indirect expenses are not included in the Fund’s reported expense ratios. |
(f) | Annualized. |
(g) | Ratios include line of credit interest expense which is less than 0.01%. |
(h) | Total net expenses include the impact of certain fee waivers/expense reimbursements made by the Investment Manager and certain of its affiliates, if applicable. |
(i) | The benefits derived from expense reductions had an impact of less than 0.01%. |
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Costs of the Reorganizations
Each Selling Fund and the corresponding Buying Fund may bear a portion of the out-of-pocket expenses associated with its Reorganization. Out-of-pocket expenses associated with a Reorganization include, but are not limited to: (1) the expenses associated with the preparation, printing and mailing of any shareholder communications, including this proxy statement/prospectus, and any filings with the SEC and/or other governmental authorities in connection with the Reorganization; (2) the fees and expenses of any proxy solicitation firm retained in connection with the Reorganization; and (3) the legal and other fees and expenses incurred in connection with the Reorganization.
All fees paid to governmental authorities for the registration or qualification of the Buying Fund shares to be issued in the Reorganization and all transfer agency costs related to such shares will be allocated to the Buying Fund. All fees and expenses related to printing and mailing communications to Selling Fund shareholders will be allocated to the Selling Fund. All of the other expenses of a Reorganization including, without limitation, accounting, legal and custodial expenses, will be allocated equally among the applicable Funds. Following this initial allocation among the Funds, Columbia Threadneedle limits the expenses actually borne by a Fund to not more than the anticipated reduction in expenses to be incurred by that Fund over the first year following the Reorganization. Any reduction in the Reorganization expenses borne by a Fund as a result of this limitation is absorbed by Columbia Threadneedle, not by any other Fund. In addition, Columbia Threadneedle shall bear (a) all expenses allocated to Columbia Large Cap Growth Fund II, and (b) at least 50 percent of all expenses allocated to Columbia Large Cap Growth Fund III, Columbia Large Cap Growth Fund IV and Columbia Large Cap Growth Fund V. The estimated costs of each Reorganization expected to be borne by each Selling Fund and each Buying Fund, in the aggregate and on a per-share basis based on shares outstanding as of November 30, 2015, are set forth below:
Costs Estimated to be Borne | ||||||||
Fund | Total | Per Share | ||||||
Columbia Value and Restructuring Fund (Selling Fund) | $ | 442,821 | $ | 0.013 | ||||
Columbia Large Cap Growth Fund II (Selling Fund) | $ | 0 | $ | 0.000 | ||||
Columbia Large Cap Growth Fund III (Selling Fund) | $ | 83,969 | $ | 0.002 | ||||
Columbia Large Cap Growth Fund IV (Selling Fund) | $ | 65,464 | $ | 0.006 | ||||
Columbia Large Cap Growth Fund V (Selling Fund) | $ | 195,743 | $ | 0.003 | ||||
Columbia Multi-Advisor Small Cap Value Fund (Selling Fund) | $ | 165,547 | $ | 0.003 | ||||
Columbia International Value Fund (Selling Fund) | $ | 130,647 | $ | 0.010 | ||||
Columbia International Opportunities Fund (Selling Fund) | $ | 3,557 | $ | 0.000 | ||||
Columbia Contrarian Core Fund (Buying Fund) | $ | 3,500 | $ | 0.000 | ||||
Columbia Large Cap Growth Fund (Buying Fund) | $ | 2,250 | $ | 0.000 | ||||
Columbia Select Smaller-Cap Value Fund (Buying Fund) | $ | 3,500 | $ | 0.000 | ||||
Columbia Overseas Value Fund (Buying Fund) | $ | 3,500 | $ | 0.000 | ||||
Columbia Select International Equity Fund (Buying Fund) | $ | 1,537 | $ | 0.000 |
Should any Reorganization fail to occur, Columbia Threadneedle will bear all costs associated with that Reorganization.
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Based on the operating expense ratios shown in the Fees and Expenses section above for each Buying Fund, it is projected that, after the Reorganizations, assuming all of the Reorganizations are consummated, each class of each Selling Fund will benefit from expense savings that will offset the allocated Reorganization expenses. However, the benefit of those projected expense savings will not be realized immediately. It is projected that the aggregate expense savings for each Selling Fund will not exceed the allocated Reorganization expenses of that Selling Fund until approximately the number of months after its Reorganization set forth below.
Fund | Number of Months | |||
Columbia Value and Restructuring Fund | 4 | |||
Columbia Large Cap Growth Fund II | 0 | |||
Columbia Large Cap Growth Fund III | 1 | |||
Columbia Large Cap Growth Fund IV | 2 | |||
Columbia Large Cap Growth Fund V | 1 | |||
Columbia Multi-Advisor Small Cap Value Fund | 12 | |||
Columbia International Value Fund | 8 | |||
Columbia International Opportunities Fund | 12 |
If a shareholder redeems his or her Buying Fund shares prior to the indicated time, the shareholder will receive no net benefit from the projected expense savings.
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Additional Information Applicable to the Buying Funds
Below is information regarding the Buying Funds. All references to each Fund or the Funds in this Exhibit B refer to a Buying Fund or the Buying Funds, respectively, unless otherwise noted.
Additional Investment Strategies and Policies
This section describes certain investment strategies and policies that each Fund may utilize in pursuit of its investment objective and some additional factors and risks involved with investing in each Fund.
Investment Guidelines
As a general matter, and except as specifically described in the discussion of each Fund’s principal investment strategies in this prospectus or as otherwise required by the Investment Company Act of 1940, as amended (the 1940 Act), the rules and regulations thereunder and any applicable exemptive relief, whenever an investment policy or limitation states a percentage of each Fund’s assets that may be invested in any security or other asset or sets forth a policy regarding an investment standard, compliance with that percentage limitation or standard will be determined solely at the time of each Fund’s investment in the security or asset.
Holding Other Kinds of Investments
Each Fund may hold investments that are not part of its principal investment strategies. These investments and their risks are described below and/or in the SAI. Each Fund may choose not to invest in certain securities described in this prospectus and in the SAI, although it has the ability to do so. Information on each Fund’s holdings can be found in each Fund’s shareholder reports or by visiting columbiathreadneedle.com/us.
Transactions in Derivatives
Each Fund may enter into derivative transactions or otherwise have exposure to derivative transactions through underlying investments. Derivatives are financial contracts whose values are, for example, based on (or “derived” from) traditional securities (such as a stock or bond), assets (such as a commodity like gold or a foreign currency), reference rates (such as the London Interbank Offered Rate (commonly known as LIBOR)) or market indices (such as the Standard & Poor’s (S&P) 500® Index). The use of derivatives is a highly specialized activity which involves investment techniques and risks different from those associated with ordinary portfolio securities transactions. Derivatives involve special risks and may result in losses or may limit each Fund’s potential gain from favorable market movements. Derivative strategies often involve leverage, which may exaggerate a loss, potentially causing each Fund to lose more money than it would have lost had it invested in the underlying security or other asset directly. The values of derivatives may move in unexpected ways, especially in unusual market conditions, and may result in increased volatility in the value of the derivative and/or each Fund’s shares, among other consequences. The use of derivatives may also increase the amount of taxes payable by shareholders holding shares in a taxable account. Other risks arise from each Fund’s potential inability to terminate or to sell derivative positions. A liquid secondary market may not always exist for each Fund’s derivative positions at times when such Fund might wish to terminate or to sell such positions. Over-the-counter instruments (investments not traded on an exchange) may be illiquid, and transactions in derivatives traded in the over-the-counter market are subject to the risk that the other party will not meet its obligations. The use of derivatives also involves the risks of mispricing or improper valuation and that changes in the value of the derivative may not correlate perfectly with the underlying security, asset, reference rate or index. Each Fund also may not be able to find a suitable derivative transaction counterparty, and thus may be unable to engage in derivative transactions when it is deemed favorable to do so, or at all. U.S. federal legislation has been enacted that provides for new clearing, margin, reporting and registration requirements for participants in the derivatives market. These changes could restrict and/or impose significant costs or other burdens upon each Fund’s participation in derivatives transactions. For more information on the risks of derivative investments and strategies, see the SAI.
Investing in Affiliated Funds
Columbia Threadneedle or an affiliate serves as investment adviser to mutual funds using the Columbia brand (Columbia Funds), including those that are structured as “fund-of-funds”, and provides asset-allocation services to (i) shareholders by investing in shares of other Columbia Funds, which may include each Fund (collectively referred to in this section as Underlying Funds), and (ii) discretionary managed accounts (collectively referred to as affiliated products) that invest exclusively in Underlying Funds. These affiliated products, individually or collectively, may own a significant percentage of the outstanding shares of one or more Underlying Funds, and Columbia Threadneedle seeks to balance potential conflicts of interest between the affiliated products and the Underlying Funds in which they invest. The affiliated products’ investment in the Underlying Funds may have the effect of creating economies of scale, possibly resulting in lower expense ratios for the Underlying Funds, because the affiliated products may own substantial portions of the shares of Underlying Funds. However, redemption of Underlying Fund shares by one or more affiliated products could cause the expense ratio of an Underlying Fund to increase, as its fixed costs would be spread over a smaller asset base. Because of large positions of certain affiliated products, the Underlying Funds may experience relatively large inflows and outflows of cash due
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to affiliated products’ purchases and sales of Underlying Fund shares. Although Columbia Threadneedle or its affiliate may seek to minimize the impact of these transactions where possible, for example, by structuring them over a reasonable period of time or through other measures, Underlying Funds may experience increased expenses as they buy and sell portfolio securities to manage the cash flow effect related to these transactions. Further, when Columbia Threadneedle or its affiliate structures transactions over a reasonable period of time in order to manage the potential impact of the buy and sell decisions for the affiliated products, those affiliated products, including funds-of-funds, may pay more or less (for purchase activity), or receive more or less (for redemption activity), for shares of the Underlying Funds than if the transactions were executed in one transaction. In addition, substantial redemptions by affiliated products within a short period of time could require the Underlying Fund to liquidate positions more rapidly than would otherwise be desirable, which may have the effect of reducing or eliminating potential gain or causing it to realize a loss. In order to meet such redemptions, an Underlying Fund may be forced to sell its liquid (or more liquid) positions, leaving the Underlying Fund holding, post-redemption, a relatively larger position in illiquid securities (securities that are not readily marketable or that a fund may not be able to sell or dispose of in the ordinary course of business, within seven days, at approximately the value at which the fund has valued the security) or less liquid securities. Substantial redemptions may also adversely affect the ability of the Underlying Fund to implement its investment strategy. Columbia Threadneedle or its affiliate also has an economic conflict of interest in determining the allocation of affiliated products’ assets among the Underlying Funds, as it earns different fees from the various Underlying Funds.
Investing in Money Market Funds
Each Fund may invest cash in, or hold as collateral for certain investments, shares of registered or unregistered money market funds, including funds advised by Columbia Threadneedle or its affiliates. These funds are not insured or guaranteed by the Federal Deposit Insurance Corporation (FDIC) or any other government agency. Each Fund and its shareholders indirectly bear a portion of the expenses of any money market fund or other fund in which such Fund may invest.
Lending of Portfolio Securities
Each Fund may lend portfolio securities to broker-dealers or other financial intermediaries on a fully collateralized basis in order to earn additional income. Each Fund may lose money from securities lending if, for example, it is delayed in or prevented from selling the collateral after the loan is made or recovering the securities loaned or if it incurs losses on the reinvestment of cash collateral.
Each Fund currently does not participate in the securities lending program but the Board of Trustees of the applicable Fund (the Board) may determine to renew participation in the future. For more information on lending of portfolio securities and the risks involved, see each Fund’s SAI and its annual and semiannual reports to shareholders.
Investing Defensively
Each Fund may from time to time take temporary defensive investment positions that may be inconsistent with its principal investment strategies in attempting to respond to adverse market, economic, political, social or other conditions, including, without limitation, investing some or all of its assets in money market instruments or shares of affiliated or unaffiliated money market funds or holding some or all of its assets in cash or cash equivalents. Each Fund may take such defensive investment positions for as long a period as deemed necessary.
Each Fund may not achieve its investment objective while it is investing defensively. Investing defensively may adversely affect Fund performance. During these times, the portfolio managers may make frequent portfolio holding changes, which could result in increased trading expenses and taxes, and decreased Fund performance. See also Investing in Money Market Funds above for more information.
Other Strategic and Investment Measures
Each Fund may also from time to time take temporary portfolio positions that may or may not be consistent with its principal investment strategies in attempting to respond to adverse market, economic, political, social or other conditions, including, without limitation, investing in derivatives, such as futures (e.g., index futures) or options on futures, for various purposes, including among others, investing in particular derivatives to achieve indirect investment exposures to a sector, country or region where Columbia Threadneedle believes such positioning is appropriate. Each Fund may take such portfolio positions for as long a period as deemed necessary. While a Fund is so positioned, derivatives could comprise a substantial portion of its investments and a Fund may not achieve its investment objective. Investing in this manner may adversely affect Fund performance. During these times, the portfolio managers may make frequent portfolio holding changes, which could result in increased trading expenses and taxes, and decreased Fund performance. For information on the risks of investing in derivatives, see Transactions in Derivatives above.
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Portfolio Holdings Disclosure
The Board has adopted policies and procedures that govern the timing and circumstances of disclosure to shareholders and third parties of information regarding the securities owned by each Fund. A description of these policies and procedures is included in the SAI. Fund policy generally permits the disclosure of portfolio holdings information on each Fund’s website (columbiathreadneedle.com/us) only after a certain amount of time has passed, as described in the SAI.
Purchases and sales of portfolio securities can take place at any time, so the portfolio holdings information available on each Fund’s website may not always be current.
FUNDamentalsTM |
Portfolio Holdings Versus the Benchmarks
Each Fund does not limit its investments to the securities within its benchmark(s), and accordingly each Fund’s holdings may diverge significantly from those of its benchmark(s). In addition, each Fund may invest in securities outside any industry and geographic sectors represented in its benchmark(s). Each Fund’s weightings in individual securities, and in industry or geographic sectors, may also vary considerably from those of its benchmark(s).
eDelivery and Mailings to Households
In order to reduce shareholder expenses, each Fund may, if prior consent has been provided, mail only one copy of its prospectus and each annual and semiannual report to those addresses shared by two or more accounts. If you wish to receive separate copies of these documents, call 800.345.6611 or, if your shares are held through a financial intermediary, contact your intermediary directly. Additionally, you may elect to enroll in eDelivery to receive electronic versions of these documents by logging into your account at columbiathreadneedle.com/us.
Cash Flows
The timing and magnitude of cash inflows from investors buying Fund shares could prevent each Fund from always being fully invested. Conversely, the timing and magnitude of cash outflows to shareholders redeeming Fund shares could require each Fund to sell portfolio securities at less than opportune times or to hold ready reserves of uninvested cash in amounts larger than might otherwise be the case to meet shareholder redemptions. Either situation could adversely impact each Fund’s performance.
Understanding Annual Fund Operating Expenses
Each Fund’s annual operating expenses, as presented in the Annual Fund Operating Expenses table in the Fees and Expenses section of this prospectus, generally are based on expenses incurred during such Fund’s most recently completed fiscal year and are expressed as a percentage (expense ratio) of such Fund’s average net assets during that fiscal year. The expense ratios reflect each Fund’s fee arrangements as of the date of this prospectus and, unless indicated otherwise, are based on expenses incurred during each Fund’s most recent fiscal year. Each Fund’s assets will fluctuate, but no adjustments have been or will be made to the expense ratios to reflect any differences in each Fund’s average net assets between the most recently completed fiscal year and the date of this prospectus, or a later date. In general, each Fund’s expense ratios will increase as its net assets decrease, such that each Fund’s actual expense ratios may be higher than the expense ratios presented in the Annual Fund Operating Expenses table if assets fall. Any commitment by Columbia Threadneedle and/or its affiliates to waive fees and/or cap (reimburse) expenses is expected, in part, to limit the impact of any increase in each Fund’s operating expense ratios that would otherwise result because of a decrease in such Fund’s assets in the current fiscal year. Each Fund’s annual operating expenses are comprised of (i) investment management fees, (ii) distribution and/or service fees, and (iii) other expenses. Management fees do not vary by class, but distribution and/or service fees and other expenses may vary by class.
FUNDamentalsTM |
Other Expenses
“Other expenses” consist of the fees each Fund pays to its custodian, transfer agent, auditors, lawyers and trustees, costs relating to compliance and miscellaneous expenses. In each Fund’s previous prospectus, “other expenses” also included administrative services fees. The management fees reported in the annual fund operating expenses table of this prospectus reflect the combination of advisory and administrative services fees under a single management agreement. Generally, these expenses are the same for each share class and are allocated on a pro rata basis across all share classes. Transfer agent fees and certain shareholder servicing fees, however, are class specific. They differ by share class because the shareholder services provided to each share class may be different. Accordingly, the differences in “other expenses” among share classes are primarily the result of the different transfer agent and shareholder servicing fees applicable to each share class. For more information on these fees, see Choosing a Share Class — Selling Agent Compensation.
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Fee Waiver/Expense Reimbursement Arrangements and Impact on Past Performance
Columbia Threadneedle and certain of its affiliates have contractually agreed to waive fees and/or reimburse expenses (excluding certain fees and expenses described below) through December 31, 2016 for Columbia Contrarian Core Fund, November 30, 2016 for Columbia Large Cap Growth Fund, September 30, 2016 for Columbia Select Smaller-Cap Value Fund, and June 30, 2016 for Columbia Overseas Value Fund and Columbia Select International Equity Fund, unless sooner terminated at the sole discretion of each Fund’s Board, so that each Fund’s net operating expenses, after giving effect to fees waived/expenses reimbursed and any balance credits and/or overdraft charges from such Fund’s custodian, do not exceed the annual rates of:
Columbia Contrarian Core Fund |
| |||
Class A | 1.19 | % | ||
Class C | 1.94 | % | ||
Class I | 0.81 | % | ||
Class R | 1.44 | % | ||
Class R4 | 0.94 | % | ||
Class R5 | 0.86 | % | ||
Class W | 1.19 | % | ||
Class Y | 0.81 | % | ||
Class Z | 0.94 | % | ||
Columbia Large Cap Growth Fund |
| |||
Class A | 1.23 | % | ||
Class B | 1.98 | % | ||
Class C | 1.98 | % | ||
Class I | 0.86 | % | ||
Class R | 1.48 | % | ||
Class R4 | 0.98 | % | ||
Class R5 | 0.91 | % | ||
Class W | 1.23 | % | ||
Class Z | 0.98 | % | ||
Columbia Select Smaller-Cap Value Fund |
| |||
Class A | 1.38 | % | ||
Class B | 2.13 | % | ||
Class C | 2.13 | % | ||
Class I | 1.00 | % | ||
Class K | 1.30 | % | ||
Class R | 1.63 | % | ||
Class R4 | 1.13 | % | ||
Class R5 | 1.05 | % | ||
Class Y | 1.00 | % | ||
Class Z | 1.13 | % |
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Columbia Overseas Value Fund |
| |||
Class A | 1.46 | % | ||
Class B | 2.21 | % | ||
Class C | 2.21 | % | ||
Class I | 1.03 | % | ||
Class R | 1.71 | % | ||
Class R4 | 1.21 | % | ||
Class R5 | 1.08 | % | ||
Class Z | 1.21 | % | ||
Columbia Select International Equity Fund |
| |||
Class A | 1.42 | % | ||
Class B | 2.17 | % | ||
Class C | 2.17 | % | ||
Class I | 0.98 | % | ||
Class R | 1.67 | % | ||
Class R4 | 1.17 | % | ||
Class Z | 1.17 | % |
Under the agreement, the following fees and expenses are excluded from each Fund’s operating expenses when calculating the waiver/reimbursement commitment, and therefore will be paid by such Fund, if applicable: taxes (including foreign transaction taxes), expenses associated with investment in affiliated and non-affiliated pooled investment vehicles (including mutual funds and exchange-traded funds), transaction costs and brokerage commissions, costs related to any securities lending program, dividend expenses associated with securities sold short, inverse floater program fees and expenses, transaction charges and interest on borrowed money, interest, extraordinary expenses and any other expenses the exclusion of which is specifically approved by the Board. This agreement may be modified or amended only with approval from all parties.
Effect of Fee Waivers and/or Expense Reimbursements on Past Performance.
Each Fund’s returns shown in the Performance Information section of this prospectus reflect the effect of any fee waivers and/or reimbursements of Fund expenses by Columbia Threadneedle and/or any of its affiliates that were in place during the performance period shown. Without such fee waivers/expense reimbursements, each Fund’s returns might have been lower.
Primary Service Providers
Each Fund enters into contractual arrangements with various parties, including, among others, Columbia Threadneedle, the Distributor, the Transfer Agent and its custodian, who provide services to the Fund. Shareholders are not parties to, or intended (or “third-party”) beneficiaries of, any of those contractual arrangements, and those contractual arrangements are not intended to create in any individual shareholder or group of shareholders any right to enforce such arrangements against the service providers or to seek any remedy thereunder against the service providers, either directly or on behalf of such Fund.
This prospectus provides information concerning each Fund that you should consider in determining whether to purchase shares of such Fund. None of this prospectus, the SAI or any contract that is an exhibit to a Fund’s registration statement is intended to give rise to any agreement or contract between a Fund and any investor, or give rise to any contract or other rights in any individual shareholder, group of shareholders or other person other than any rights conferred explicitly by federal or state securities laws that may not be waived.
Columbia Threadneedle, the Distributor and the Transfer Agent are all affiliates of Ameriprise Financial. They and their affiliates currently provide key services, including investment advisory, administration, distribution, shareholder servicing and transfer agency services, to each Fund and various other funds, including the Columbia Funds, and are paid for providing these services. These service relationships are described below.
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Fund Management and Compensation (for all Buying Funds)
Columbia Management Investment Advisers, LLC is located at 225 Franklin Street, Boston, MA 02110 and serves as investment adviser and administrator to the Columbia Funds. Columbia Threadneedle is a registered investment adviser and a wholly-owned subsidiary of Ameriprise Financial. Columbia Threadneedle’s management experience covers all major asset classes, including equity securities, fixed-income securities and money market instruments. In addition to serving as an investment adviser to traditional mutual funds, exchange-traded funds and closed-end funds, Columbia Threadneedle acts as an investment adviser for itself, its affiliates, individuals, corporations, retirement plans, private investment companies and financial intermediaries.
Subject to oversight by the Board, Columbia Threadneedle manages the day-to-day operations of each Fund, determining what securities and other investments each Fund should buy or sell and executing portfolio transactions. Columbia Threadneedle may use the research and other capabilities of its affiliates and third parties in managing each Fund’s investments. Columbia Threadneedle is also responsible for overseeing the administrative operations of each Fund, including the general supervision of each Fund’s operations, the coordination of each Fund’s service providers and the provision of related clerical and administrative services.
The SEC has issued an order that permits Columbia Threadneedle, subject to the approval of the Board, to appoint an unaffiliated subadviser or to change the terms of a subadvisory agreement for each Fund without first obtaining shareholder approval. The order permits each Fund to add or to change unaffiliated subadvisers or to change the fees paid to subadvisers from time to time without the expense and delays associated with obtaining shareholder approval of the change. Columbia Threadneedle and its affiliates may have other relationships, including significant financial relationships, with current or potential subadvisers or their affiliates, which may create certain conflicts of interest. When making recommendations to the Board to appoint or to change a subadviser, or to change the terms of a subadvisory agreement, Columbia Threadneedle does not consider any other relationship it or its affiliates may have with a subadviser, and Columbia Threadneedle discloses to the Board the nature of any material relationships it has with a subadviser or its affiliates.
Each Fund pays Columbia Threadneedle a fee for its management services, which include investment advisory services and administrative services. The fee is calculated as a percentage of the average daily net assets of each Fund and is paid monthly. Prior to January 1, 2016 for Columbia Contrarian Core Fund, December 1, 2015 for Columbia Large Cap Growth Fund, October 1, 2015 for Columbia Select Smaller-Cap Value Fund, and July 1, 2015 for Columbia Overseas Value Fund and Columbia Select International Equity Fund, the Fund paid Columbia Threadneedle an advisory fee under an investment management services agreement and a separate administrative services fee under an administrative services agreement. The fees paid to Columbia Threadneedle by each Fund under its investment management services agreement (“IMS Agreement”) (exclusive of administrative services fees) for its most recent fiscal year were the following percentage of each Buying Fund’s average daily net assets:
Buying Fund | Percentage of Fund’s Average Daily Net Assets | |||
Columbia Contrarian Core Fund | 0.59 | % | ||
Columbia Large Cap Growth Fund | 0.61 | % | ||
Columbia Select Smaller-Cap Value Fund | 0.79 | % | ||
Columbia Overseas Value Fund | 0.78 | % | ||
Columbia Select International Equity Fund | 0.78 | % |
Under its IMS Agreement or management agreement, as applicable, each Fund also pays taxes, brokerage commissions and nonadvisory expenses. A discussion regarding the basis for each Fund’s board of trustees approval of the renewal of the Fund’s IMS Agreement and the combination of each Fund’s investment management services agreement with the Fund’s administrative services agreement into the Fund’s management agreement, each with Columbia Threadneedle, is available in Columbia Contrarian Core Fund’s Annual Report to Shareholders for the fiscal year ended August 31, 2015, Columbia Large Cap Growth Fund’s Annual Report to Shareholders for the fiscal year ended July 31, 2015, Columbia Select Smaller-Cap Value Fund’s Annual Report to Shareholders for the fiscal year ended May 31, 2015, Columbia Overseas Value Fund’s Semiannual Report to Shareholders for the period ended August 31, 2015 and Columbia Select International Equity Fund’s Semiannual Report to Shareholders for the period ended August 31, 2015.
Portfolio Managers
Information about the portfolio managers who are primarily responsible for overseeing each Fund’s investments is shown below. The SAI provides additional information about the portfolio managers, including information relating to each portfolio manager’s compensation, other accounts managed by each portfolio manager and each portfolio manager’s ownership of securities in each Fund.
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Columbia Contrarian Core Fund
Portfolio Manager | Title | Role with | Managed Fund Since | |||
Guy Pope, CFA | Senior Portfolio Manager and Head of Contrarian Core Strategy | Manager | 2005 |
Mr. Pope joined Columbia Threadneedle in May 2010 when it acquired the long-term asset management business of Columbia Management Group, where he worked as an investment professional since 1993. Mr. Pope began his investment career in 1993 and earned a B.A. from Colorado College and an M.B.A. from Northwestern University.
Columbia Large Cap Growth Fund
Portfolio Manager | Title | Role with Fund | Managed Fund Since | |||
John Wilson, CFA | Senior Portfolio Manager | Lead manager | 2005 | |||
Peter Deininger, CFA, CAIA | Senior Portfolio Manager | Co-manager | 2010 | |||
Tchintcia Barros, CFA | Portfolio Manager | Co-manager | February 2015 |
Mr. Wilson was a portfolio manager for Columbia Management Advisors, LLC from 2005 until May 2010 when he joined Columbia Threadneedle in connection with its acquisition of Columbia Management Advisors, LLC. Mr. Wilson began his investment career in 1985 and earned a B.A. from Trinity College and an M.B.A. from Duke University.
Mr. Deininger was a portfolio manager for Columbia Management Advisors, LLC from 2002 until May 2010 when he joined Columbia Threadneedle in connection with its acquisition of Columbia Management Advisors, LLC. Mr. Deininger began his investment career in 1994 and earned a B.A. from Dartmouth College and an M.B.A. from the University of Chicago.
Ms. Barros was an investment professional with Columbia Management Advisors, LLC from 2005 until May 2010 when she joined Columbia Threadneedle in connection with its acquisition of Columbia Management Advisors, LLC. Ms. Barros began her investment career in 2000 and earned a B.A. in economics from Dartmouth College and an M.B.A. from Harvard Business School.
Columbia Select Smaller-Cap Value Fund
Portfolio Manager | Title | Role with Fund | Managed Fund Since | |||
Richard Rosen | Senior Portfolio Manager | Lead manager | 1997 | |||
Kari Montanus | Portfolio Manager | Co-manager | 2014 |
Mr. Rosen joined Columbia Threadneedle in November 2008 when it acquired J. & W. Seligman & Co. Incorporated (Seligman), where he was a Managing Director. Mr. Rosen began his investment career in 1982 and earned a B.A. from Brandeis University and an M.B.A. from New York University.
Ms. Montanus joined Columbia Threadneedle in November 2008 when it acquired Seligman, where she worked as an investment professional since 2003. Ms. Montanus began her investment career in 1990 and earned a B.A. from Stanford University and an M.B.A. in finance from The Wharton School, University of Pennsylvania.
Columbia Overseas Value Fund
Portfolio Manager | Title | Role with Fund | Managed Fund Since | |||
Fred Copper, CFA | Senior Portfolio Manager | Co-manager | 2008 | |||
Daisuke Nomoto, CMA (SAAJ) | Senior Portfolio Manager | Co-manager | 2013 |
Mr. Copper joined Columbia Threadneedle in May 2010 when it acquired the long-term asset management business of Columbia Management Group, where he worked as an investment professional since 2005. Mr. Copper began his investment career in 1990 and earned a B.S. from Boston College and an M.B.A. from the University of Chicago.
Mr. Nomoto joined Columbia Threadneedle in May 2010 when it acquired the long-term asset management business of Columbia Management Group, where he worked as an investment professional since 2005. Mr. Nomoto began his investment career in 1993 and earned a B.A. from Shiga University, Japan.
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Columbia Select International Equity Fund
Portfolio Manager | Title | Role with Fund | Managed Fund Since | |||
Simon Haines, CFA | Fund Manager | Portfolio Manager | March 2015 | |||
William Davies | Head of Global Equities and Deputy Head of Equities of Threadneedle | Deputy Portfolio Manager | March 2015 | |||
David Dudding, CFA | Fund Manager | Deputy Portfolio Manager | March 2015 |
Mr. Haines joined Threadneedle in 1999 as a trainee UK fund manager, progressing to fund manager effective January 2005. Mr. Haines began his investment career in 1999 and earned a degree from Oxford University.
Mr. Davies joined Threadneedle in 1994. Prior to assuming his current roles, Mr. Davies was Head of European Equities. Prior to joining Threadneedle, Mr. Davies worked for Eagle Star Investments and Hambros Bank. At Hambros Bank Mr. Davies was a European Investment Manager and led the European Equity team. Mr. Davies began his investment career in 1984 and earned a B.A (Hons) in Economics from Exeter University.
Mr. Dudding joined Threadneedle in 1999 as an analyst. Mr. Dudding began his investment career in 1999 and earned a Modern History degree and a European Politics Masters degree from Oxford University.
The Distributor
Shares of each Fund are distributed by Columbia Management Investment Distributors, Inc., which is located at 225 Franklin Street, Boston, MA 02110. The Distributor is a registered broker-dealer and an indirect, wholly-owned subsidiary of Ameriprise Financial. The Distributor and its affiliates may pay commissions, distribution and service fees and/or other compensation to entities, including Ameriprise Financial affiliates, for selling shares and providing services to investors.
The Transfer Agent
Columbia Management Investment Services Corp. is a registered transfer agent and wholly-owned subsidiary of Ameriprise Financial. The Transfer Agent is located at 225 Franklin Street, Boston, MA 02110, and its responsibilities include processing purchases, redemptions and exchanges of Fund shares, calculating and paying distributions, maintaining shareholder records, preparing account statements and providing customer service. The Transfer Agent has engaged DST Systems, Inc., including its affiliate, Boston Financial Data Services, Inc., to provide various shareholder or “sub-transfer agency” services. In addition, the Transfer Agent enters into agreements with various financial intermediaries through which you may hold Fund shares, pursuant to which the Transfer Agent pays these financial intermediaries for providing certain shareholder services. Each Fund generally pays the Transfer Agent a per account fee, pays a fee based on the assets invested through omnibus accounts and reimburses the Transfer Agent for certain out-of-pocket expenses.
Other Roles and Relationships of Ameriprise Financial and its Affiliates — Certain Conflicts of Interest
Columbia Threadneedle, the Distributor and the Transfer Agent, all affiliates of Ameriprise Financial, provide various services to each Fund and other Columbia Funds for which they are compensated. Ameriprise Financial and its other affiliates may also provide other services to these funds and be compensated for them.
Columbia Threadneedle and its affiliates may provide investment advisory and other services to other clients and customers substantially similar to those provided to the Columbia Funds. These activities, and other financial services activities of Ameriprise Financial and its affiliates, may present actual and potential conflicts of interest and introduce certain investment constraints.
Ameriprise Financial is a major financial services company, engaged in a broad range of financial activities beyond the mutual fund-related activities of Columbia Threadneedle, including, among others, insurance, broker-dealer (sales and trading), asset management, banking and other financial activities. These additional activities may involve multiple advisory, financial, insurance and other interests in securities and other instruments, and in companies that issue securities and other instruments, that may be bought, sold or held by the Columbia Funds.
Conflicts of interest and limitations that could affect a Columbia Fund may arise from, for example, the following:
• | compensation and other benefits received by Columbia Threadneedle and other Ameriprise Financial affiliates related to the management/administration of a Columbia Fund and the sale of its shares; |
• | the allocation of, and competition for, investment opportunities among each Fund, other funds and accounts advised/managed by Columbia Threadneedle and other Ameriprise Financial affiliates, or Ameriprise Financial itself and its affiliates; |
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• | separate and potentially divergent management of a Columbia Fund and other funds and accounts advised/managed by Columbia Threadneedle and other Ameriprise Financial affiliates; |
• | regulatory and other investment restrictions on investment activities of Columbia Threadneedle and other Ameriprise Financial affiliates and accounts advised/managed by them; |
• | insurance and other relationships of Ameriprise Financial affiliates with companies and other entities in which a Columbia Fund invests; and |
• | regulatory and other restrictions relating to the sharing of information between Ameriprise Financial and its affiliates, including Columbia Threadneedle, and a Columbia Fund. |
Columbia Threadneedle and Ameriprise Financial have adopted various policies and procedures that are intended to identify, monitor and address conflicts of interest. However, there is no assurance that these policies, procedures and disclosures will be effective.
Additional information about Ameriprise Financial and the types of conflicts of interest and other matters referenced above is set forth in the Investment Management and Other Services — Other Roles and Relationships of Ameriprise Financial and its Affiliates — Certain Conflicts of Interest section of the SAI. Investors in the Columbia Funds should carefully review these disclosures and consult with their financial advisor if they have any questions.
Certain Legal Matters
Ameriprise Financial and certain of its affiliates have historically been involved in a number of legal, arbitration and regulatory proceedings, including routine litigation, class actions and governmental actions, concerning matters arising in connection with the conduct of their business activities. Ameriprise Financial believes that each Fund is not currently the subject of, and that neither Ameriprise Financial nor any of its affiliates are the subject of, any pending legal, arbitration or regulatory proceedings that are likely to have a material adverse effect on such Fund or the ability of Ameriprise Financial or its affiliates to perform under their contracts with such Fund. Information regarding certain pending and settled legal proceedings may be found in each Fund’s shareholder reports and in the SAI. Additionally, Ameriprise Financial is required to make quarterly (10-Q), annual (10-K) and, as necessary, 8-K filings with the SEC on legal and regulatory matters that relate to Ameriprise Financial and its affiliates. Copies of these filings may be obtained by accessing the SEC website at www.sec.gov.
The Funds
The Columbia Funds (referred to as the Funds) generally share the same policies and procedures for investor services, as described below. Each Fund is a series of Columbia Funds Series Trust (CFST), Columbia Funds Series Trust I (CFST I) or Columbia Funds Series Trust II (CFST II), and certain features of distribution and/or service plans may differ among these trusts. Columbia Funds with names that include the words “Tax-Exempt,” “Municipal” or “Muni” (the Tax-Exempt Funds) have certain policies that differ from other Columbia Funds (the Taxable Funds). Each Fund offered by this prospectus is a Taxable Fund.
Funds Contact Information
Additional information about the Funds can be obtained at columbiathreadneedle.com/us,* by calling toll-free 800.345.6611, or by writing (regular mail) to Columbia Management Investment Services Corp., P.O. Box 8081, Boston, MA 02266-8081 or (express mail) Columbia Management Investment Services Corp., c/o Boston Financial, 30 Dan Road, Suite 8081, Canton, MA 02021-2809.
* | The website references in this prospectus are inactive links and information contained in or otherwise accessible through the referenced websites does not form a part of this prospectus. |
FUNDamentalsTM |
Selling and/or Servicing Agents
The terms “selling agent” and “servicing agent” (collectively, selling agents) refer to the financial intermediaries that are authorized to sell shares of the Funds. Selling agents include broker-dealers and financial advisors as well as firms that employ such broker-dealers and financial advisors, including, for example, brokerage firms, banks, investment advisers, third party administrators and other financial intermediaries, including Ameriprise Financial and its affiliates.
Omnibus Accounts
The term “omnibus account” refers to a selling agent’s account with the Fund (through the Transfer Agent) that represents the combined holdings of, and transactions in, Fund shares of one or more clients of the selling agent (beneficial shareholders). Omnibus accounts are held in the name of the selling agents and not in the name of the beneficial shareholders invested in the Fund through omnibus accounts.
Retirement Plans and Omnibus Retirement Plans
The term “retirement plan” refers to retirement plans created under sections 401(a), 401(k), 457 and 403(b) of the Internal Revenue Code of 1986, as amended (the Code), non-qualified deferred compensation plans governed by section 409A of the Code and similar plans, but does not refer to individual retirement plans. The term “omnibus retirement plan” refers to a retirement plan that has a plan-level or omnibus account with the Transfer Agent.
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Summary of Share Class Features
Each share class has its own investment eligibility criteria, cost structure and other features. You may not be eligible for every share class. If you purchase shares of a Fund through a retirement plan or other product or program offered by your selling agent, not all share classes of the Fund may be made available to you. When deciding which class of shares to buy, you should consider, among other things:
• | The amount you plan to invest. |
• | How long you intend to remain invested in the Fund. |
• | The expenses for each share class. |
• | Whether you may be eligible for a reduction or waiver of sales charges when you buy or sell shares. |
Each investor’s personal situation is different and you may wish to discuss with your selling agent which share classes are available to you and which share class is appropriate for you.
The following summarizes the primary features of Class A, Class B, Class C, Class I, Class K, Class R, Class R4, Class R5, Class T, Class W, Class Y and Class Z shares.
Not all Funds offer every class of shares. Although certain share classes are generally closed to new or existing investors, information relating to these share classes is included in the table below because certain qualifying purchase orders are permitted, as described below.
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Share Class Features
Share Class | Eligible Investors(a); Minimum Initial Investments(b) | Front-End Sales Charges(c) | Contingent Deferred Sales Charges (CDSCs)(c) | Maximum Distribution and/or Service Fees(d) | ||||
Class A | Eligibility: Available to the general public for investment
Minimum Initial Investment: $2,000 for most investors | Taxable Funds: 5.75% maximum, declining to 0.00% on investments of $1 million or more
Tax-Exempt Funds: 3.00% maximum, declining to 0.00% on investments of $500,000 or more(e)
None for Columbia Money Market Fund and certain other Funds(e) | Taxable Funds: CDSC on certain investments of between $1 million and $50 million redeemed within 18 months after purchase charged as follows:
• 1.00% CDSC if redeemed within 12 months after purchase and
• 0.50% CDSC if redeemed more than 12, but less than 18, months after purchase(e)
Tax-Exempt Funds: Maximum CDSC of 0.75% on certain investments of $500,000 or more redeemed within 12 months after purchase. The CDSC on shares purchased prior to February 19, 2015 differs(e) | Distribution and Service Fees: up to 0.25% | ||||
Class B | Eligibility: Closed to new investors(f)
Note: Class B shares convert to Class A shares generally eight years after purchase(g)
Minimum Initial Investment: N/A | None | 5.00% maximum, gradually declining to 0.00% after six years(g) | Distribution Fee: 0.75%
Service Fee: 0.25% | ||||
Class C | Eligibility: Available to the general public for investment
Minimum Initial Investment: $2,000 for most investors
Purchase Order Limit for Tax-Exempt Funds: $499,999(h), none for omnibus retirement plans
Purchase Order Limit for Taxable Funds: $999,999(h); none for omnibus retirement plans | None | 1.00% on certain investments redeemed within one year of purchase | Distribution Fee: 0.75%
Service Fee: 0.25% |
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Share Class | Eligible Investors(a); Minimum Initial Investments(b) | Front-End Sales Charges(c) | Contingent Deferred Sales Charges (CDSCs)(c) | Maximum Distribution and/or Service Fees(d) | ||||
Class I | Eligibility: Available only to other Columbia Funds (i.e., fund-of-fund investments)
Minimum Initial Investment: None | None | None | None | ||||
Class K | Eligibility: Closed to new investors; available only to qualified employee benefit plans, trust companies or similar institutions, 501(c)(3) charitable organizations, non-qualified deferred compensation plans whose participants are included in a qualified employee benefit plan described above, 529 plans, and health savings accounts(f)
Minimum Initial Investment: N/A | None | None | Plan Administration Services Fee: 0.25% | ||||
Class R | Eligibility: Available only to eligible retirement plans, health savings accounts and, in the sole discretion of the Distributor, other types of retirement accounts held through platforms maintained by selling agents approved by the Distributor
Minimum Initial Investment: None | None | None | Series of CFST & CFST I: distribution fee of 0.50%
Series of CFST II: distribution and service fee of 0.50%, of which the service fee may be up to 0.25% | ||||
Class R4 | Eligibility: Available only to (i) omnibus retirement plans, (ii) trust companies or similar institutions, (iii) broker-dealers, banks, trust companies and similar institutions that clear Fund share transactions for their client or customer investment advisory or similar accounts through designated selling agents and their mutual fund trading platforms that have been granted specific written authorization from the Transfer Agent with respect to Class R4 eligibility apart from selling, servicing or similar agreements, (iv) 501(c)(3) charitable organizations, (v) 529 plans and (vi) health savings accounts
Minimum Initial Investment: None | None | None | None |
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Share Class | Eligible Investors(a); Minimum Initial Investments(b) | Front-End Sales Charges(c) | Contingent Deferred Sales Charges (CDSCs)(c) | Maximum Distribution and/or Service Fees(d) | ||||
Class R5 | Eligibility: Available only to (i) certain registered investment advisers that clear Fund share transactions for their client or customer accounts through designated selling agents and their mutual fund trading platforms that have been granted specific written authorization from the Transfer Agent with respect to Class R5 eligibility apart from selling, servicing or similar agreements and (ii) omnibus retirement plans(f)
Minimum Initial Investment: None for omnibus retirement plans;$100,000 for combined underlying accounts of eligible registered investment advisers | None | None | None | ||||
Class T | Eligibility: Generally closed to new investors(f)
Minimum Initial Investment: N/A | 5.75% maximum, declining to 0.00% on investments of $1 million or more | CDSC on certain investments of between $1 million and $50 million redeemed within 18 months after purchase, charged as follows:
• 1.00% CDSC if redeemed within 12 months after purchase and
• 0.50% CDSC if redeemed more than 12, but less than 18, months after purchase | Service Fee: up to 0.50% | ||||
Class W | Eligibility: Available only to investors purchasing through certain authorized investment programs managed by investment professionals, including discretionary managed account programs
Minimum Initial Investment: $500 | None | None | Distribution and Service Fees: 0.25% |
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Share Class | Eligible Investors(a); Minimum Initial Investments(b) | Front-End Sales Charges(c) | Contingent Deferred Sales Charges (CDSCs)(c) | Maximum Distribution and/or Service Fees(d) | ||||
Class Y | Eligibility: Available only to retirement plans that maintain plan-level or omnibus accounts with the Fund(f)
Minimum Initial Investment: None | None | None | None |
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Share Class | Eligible Investors(a); Minimum Initial Investments(b) | Front-End Sales Charges(c) | Contingent Deferred Sales Charges (CDSCs)(c) | Maximum Distribution and/or Service Fees(d) | ||||
Class Z | Eligibility: Available only to certain eligible investors, which are subject to different minimum investment requirements, ranging from $0 to $2,000; effective March 29, 2013, closed to (i) accounts of selling agents that clear Fund share transactions for their client or customer accounts through designated selling agents and their mutual fund trading platforms that have been given specific written notice from the Transfer Agent of the termination of their eligibility for new purchases of Class Z shares and (ii) omnibus retirement plans, subject to certain exceptions(f)
Minimum Initial Investment: See Eligibility above | None | None | None |
(a) | For Columbia Money Market Fund, new investments must be made in Class A, Class I, Class W or Class Z shares, subject to eligibility. Class C and Class R shares of Columbia Money Market Fund are available as a new investment only to investors in the Distributor’s proprietary 401(k) products, provided that such investor is eligible to invest in the class and transact directly with the Fund or the Transfer Agent through a third party administrator or third party recordkeeper. Columbia Money Market Fund offers other classes of shares only to facilitate exchanges with other Funds offering such share classes. |
(b) | The minimum initial investment requirement is $5,000 for Columbia Floating Rate Fund and Columbia Inflation Protected Securities Fund, and $10,000 for Columbia Absolute Return Currency and Income Fund. See Buying, Selling and Exchanging Shares — Buying Shares for more details on the eligible investors and minimum initial investment requirements. Certain share classes are subject to minimum account balance requirements, as described in Buying, Selling and Exchanging Shares — Transaction Rules and Policies. |
(c) | Actual front-end sales charges and CDSCs vary among the Funds. For more information on applicable sales charges, see Choosing a Share Class — Sales Charges and Commissions and for information about certain exceptions to these sales charges, see Choosing a Share Class — Reductions/Waivers of Sales Charges. |
(d) | These are the maximum applicable distribution and/or service fees. Fee rates and fee components (i.e., the portion of a combined fee that is a distribution or service fee) may vary among Funds. Because these fees are paid out of Fund assets on an ongoing basis, over time these fees will increase the cost of your investment and may cost you more than paying other types of distribution and/or shareholder service fees. Although Class A shares of certain series of CFST I are subject to a combined distribution and service fee of up to 0.35%, these Funds currently limit the combined fee to 0.25%. Columbia Money Market Fund pays a distribution and service fee of up to 0.10% on Class A shares, up to 0.75% distribution fee and up to 0.10% service fee on Class B shares, up to 0.75% distribution fee on Class C shares, and 0.10% distribution and service fees on Class W shares. Columbia AMT-Free Intermediate Muni Bond Fund, Columbia High Yield Municipal Fund and Columbia Tax-Exempt Fund pay a service fee of up to 0.20% on Class A, Class B and Class C shares. Columbia AMT-Free Intermediate Muni Bond Fund pays a distribution fee of up to 0.65% on Class B and Class C shares. For more information on distribution and service fees, see Choosing a Share Class — Distribution and Service Fees. |
(e) | For Columbia Short Term Municipal Bond Fund, a CDSC of 0.50% is charged on certain investments of $500,000 or more redeemed within 12 months after purchase. The following Funds are not subject to a front-end sales charge or a CDSC on Class A shares: Columbia Money Market Fund, Columbia Large Cap Index Fund, Columbia Large Cap Enhanced Core Fund, Columbia Mid Cap Index Fund, Columbia Small Cap Index Fund and Columbia U.S. Treasury Index Fund. Investments in Class A shares of Tax-Exempt Funds made prior to February 19, 2015 of between $1 million and $50 million are subject to a CDSC of 1.00% if redeemed within 12 months after purchase and 0.50% if redeemed more than 12, but less than 18, months after purchase. |
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(f) | These share classes are closed to new accounts, or closed to previously eligible investors, subject to certain conditions, as summarized below and described in more detail under Buying, Selling and Exchanging Shares — Buying Shares — Eligible Investors: |
• | Class B Shares. The Funds no longer accept investments from new or existing investors in Class B shares, except through reinvestment of dividend and/or capital gain distributions by existing Class B shareholders, or a permitted exchange. |
• | Class K Shares. Shareholders who opened and funded a Class K account with a Fund as of the close of business on December 31, 2010 may continue to make additional purchases of such share class, and existing Class K accounts may continue to allow new investors or participants to be established in their Fund account. |
• | Class R5 Shares. Shareholders with Class R5 accounts funded before November 8, 2012 who do not satisfy the current eligibility criteria for Class R5 shares may not establish new Class R5 accounts but may continue to make additional purchases of Class R5 shares in existing accounts. In addition, investment advisory programs and similar programs that opened a Class R5 account as of May 1, 2010 and continuously hold Class R5 shares in such account after such date, may generally not only continue to make additional purchases of Class R5 shares but also open new Class R5 accounts for such pre-existing programs and add new shareholders in the program. |
• | Class T Shares. Shareholders with Class T accounts who received, and have continuously held, Class T shares in connection with the merger of certain Galaxy funds into certain Funds that were then named Liberty funds may continue to make additional purchases of such share class. |
• | Class Y Shares. Shareholders with Class Y accounts funded before November 8, 2012 who do not satisfy the current eligibility criteria for Class Y shares may not establish new accounts for such share class but may continue to make additional purchases of Class Y shares in existing accounts. |
• | Class Z Shares. Effective March 29, 2013, selling agents that clear Fund share transactions through designated selling agents and their mutual fund trading platforms that have been given specific written notice from the Transfer Agent of the termination of their eligibility for new purchases of Class Z shares and omnibus retirement plans are no longer permitted to establish new Class Z accounts, subject to certain exceptions. Omnibus retirement plans that opened and, subject to exceptions, funded a Class Z account as of close of business on March 28, 2013 and continuously hold Class Z shares in such account after such date, may generally continue to make additional purchases of Class Z shares, open new Class Z accounts and add new participants. In certain circumstances and in the sole discretion of the Distributor, omnibus retirement plans affiliated with a grandfathered plan may also open new Class Z accounts. Accounts of selling agents (other than omnibus retirement plans) that clear Fund share transactions for their client or customer accounts through designated selling agents and their mutual fund trading platforms are not permitted to establish new Class Z accounts or make additional purchases of Class Z shares (other than through reinvestment of distributions). |
(g) | Timing of conversion and CDSC schedules will vary depending on the Fund and the date of your original purchase of Class B shares. For more information on the conversion of Class B shares to Class A shares, see Choosing a Share Class — Sales Charges and Commissions. Class B shares of Columbia Short Term Municipal Bond Fund do not charge a CDSC and do not convert to Class A shares. |
(h) | If you are eligible to invest in Class A shares without a front-end sales charge, you should discuss your options with your selling agent. For more information, see Choosing a Share Class – Reductions/Waivers of Sales Charges. |
Sales Charges and Commissions
Sales charges, commissions and distribution and service fees (discussed in a separate sub-section below) compensate selling agents (typically your financial advisor) for selling shares to you and for maintaining and servicing the shares held in your account with them. These charges, commissions and fees are intended to provide incentives for selling agents to provide such services. Depending on which share class you choose you will pay these charges either at the outset as a front-end sales charge, at the time you sell your shares as a CDSC and/or over time in the form of increased ongoing fees.
Whether the ultimate cost is higher for one class over another depends on the amount you invest, how long you hold your shares and whether you are eligible for reduced or waived sales charges. The differential between classes also will vary depending on the actual investment return for any given investment period. You are responsible for choosing the share class most appropriate for you after taking into account your share class eligibility and the value of accounts that you are eligible to include for the right of accumulation, which may reduce or eliminate otherwise applicable sales charges. For more information, see Choosing a Share Class – Reductions/Waivers of Sales Charges. We encourage you to consult with a financial advisor who can help you with your investment decisions.
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Class A Shares — Front-End Sales Charge
You’ll pay a front-end sales charge when you buy Class A shares (other than shares of Columbia Money Market Fund and certain other Funds), resulting in a smaller dollar amount being invested in a Fund than the purchase price you pay, unless you qualify for a waiver of the sales charge or you buy the shares through reinvested distributions. For more information, see Choosing a Share Class — Reductions/Waivers of Sales Charges.
The Distributor receives the sales charge and re-allows (or pays) a portion of the sales charge to the selling agent through which you purchased the shares. The Distributor retains the balance of the sales charge. The Distributor retains the full sales charge you pay when you purchase shares of the Fund directly from the Fund (through the Transfer Agent, rather than through a selling agent). Sales charges vary depending on the amount of your purchase.
FUNDamentalsTM |
Front-End Sales Charge Calculation
The table below presents the front-end sales charge as a percentage of both the offering price and the net amount invested.
• | The net asset value (or NAV) per share is the price of a share calculated by the Fund every business day. |
• | The offering price per share is the NAV per share plus any front-end sales charge that applies. |
The dollar amount of the sales charge is the difference between the offering price of the shares you buy (based on the applicable sales charge for the Fund) and the NAV of those shares. To determine the front-end sales charge you will pay when you buy your shares, the Fund will add the amount of your investment to the value of your account (and any other accounts eligible for aggregation of which you or your selling agent notifies the Fund) and base the sales charge on the aggregate amount. See Choosing a Share Class — Reductions/Waivers of Sales Charges for a discussion of account value aggregation. There is no initial sales charge on reinvested dividend or capital gain distributions.
The front-end sales charge you’ll pay on Class A shares:
• | depends on the amount you’re investing (generally, the larger the investment, the smaller the percentage sales charge), and |
• | is based on the total amount of your purchase and the value of your account (and any other accounts eligible for aggregation of which you or your selling agent notifies the Fund). |
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Class A Shares — Front-End Sales Charge — Breakpoint Schedule*
Breakpoint Schedule For: | Dollar amount of shares bought(a) | Sales charge as a % of the offering price(b) | Sales charge as a % of the net amount invested(b) | Amount retained by or paid to selling agents as a % of the offering price | ||||||||||||
Equity Funds, Columbia Adaptive Alternatives Fund, Columbia Adaptive Risk Allocation Fund, Columbia Commodity Strategy Fund, Columbia Diversified Absolute Return Fund and Funds-of-Funds (equity)* | $ | 0–$49,999 | 5.75 | % | 6.10 | % | 5.00 | % | ||||||||
$ | 50,000–$99,999 | 4.50 | % | 4.71 | % | 3.75 | % | |||||||||
$ | 100,000–$249,999 | 3.50 | % | 3.63 | % | 3.00 | % | |||||||||
$ | 250,000–$499,999 | 2.50 | % | 2.56 | % | 2.15 | % | |||||||||
$ | 500,000–$999,999 | 2.00 | % | 2.04 | % | 1.75 | % | |||||||||
$ | 1,000,000 or more | 0.00 | % | 0.00 | % | 0.00 | %(c) | |||||||||
Fixed Income Funds (except those listed below), Columbia Multi-Asset Income Fund and Funds-of-Funds (fixed income)* | $ | 0-$49,999 | 4.75 | % | 4.99 | % | 4.00 | % | ||||||||
$ | 50,000–$99,999 | 4.25 | % | 4.44 | % | 3.50 | % | |||||||||
$ | 100,000–$249,999 | 3.50 | % | 3.63 | % | 3.00 | % | |||||||||
$ | 250,000–$499,999 | 2.50 | % | 2.56 | % | 2.15 | % | |||||||||
$ | 500,000–$999,999 | 2.00 | % | 2.04 | % | 1.75 | % | |||||||||
$ | 1,000,000 or more | 0.00 | % | 0.00 | % | 0.00 | %(c) | |||||||||
Tax-Exempt Funds (other than Columbia | $ | 0-$99,999 | 3.00 | % | 3.09 | % | 2.50 | % | ||||||||
$ | 100,000–$249,999 | 2.50 | % | 2.56 | % | 2.15 | % | |||||||||
$ | 250,000–$499,999 | 1.50 | % | 1.53 | % | 1.25 | % | |||||||||
$ | 500,000 or more | 0.00 | % | 0.00 | % | 0.00 | %(c) |
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Class A Shares — Front-End Sales Charge — Breakpoint Schedule*
Breakpoint Schedule For: | Dollar amount of shares bought(a) | Sales charge as a % of the offering price(b) | Sales charge as a % of the net amount invested(b) | Amount retained by or paid to selling agents as a % of the offering price | ||||||||||||
Columbia Absolute Return Currency and Income Fund | $ | 0-$99,999 | 3.00 | % | 3.09 | % | 2.50 | % | ||||||||
Columbia Floating Rate Fund, Columbia Inflation Protected Securities Fund, Columbia Intermediate Bond | $ | 100,000–$249,999 | 2.50 | % | 2.56 | % | 2.15 | % | ||||||||
Fund, Columbia Limited Duration Credit Fund, | $ | 250,000–$499,999 | 2.00 | % | 2.04 | % | 1.75 | % | ||||||||
Columbia Mortgage Opportunities Fund, Columbia | $ | 500,000–$999,999 | 1.50 | % | 1.52 | % | 1.25 | % | ||||||||
U.S. Government Mortgage Fund and Columbia U.S. Social Bond Fund | $ | 1,000,000 or more | 0.00 | % | 0.00 | % | 0.00 | %(c) | ||||||||
Columbia Short Term Bond Fund | $ | 0-$99,999 | 1.00 | % | 1.01 | % | 0.75 | % | ||||||||
$ | 100,000–$249,999 | 0.75 | % | 0.76 | % | 0.50 | % | |||||||||
$ | 250,000–$999,999 | 0.50 | % | 0.50 | % | 0.40 | % | |||||||||
$ | 1,000,000 or more | 0.00 | % | 0.00 | % | 0.00 | %(c) | |||||||||
Columbia Short Term Municipal Bond Fund | $ | 0-$99,999 | 1.00 | % | 1.01 | % | 0.75 | % | ||||||||
$ | 100,000–$249,999 | 0.75 | % | 0.76 | % | 0.50 | % | |||||||||
$ | 250,000–$499,999 | 0.50 | % | 0.50 | % | 0.40 | % | |||||||||
$ | 500,000 or more | 0.00 | % | 0.00 | % | 0.00 | %(c) |
* | The following Funds are not subject to a front-end sales charge or CDSC on Class A shares: Columbia Money Market Fund, Columbia Large Cap Index Fund, Columbia Large Cap Enhanced Core Fund, Columbia Mid Cap Index Fund, Columbia Small Cap Index Fund and Columbia U.S. Treasury Index Fund. “Funds-of-Funds (equity)” includes Columbia Capital Allocation Aggressive Portfolio, Columbia Capital Allocation Moderate Aggressive Portfolio, Columbia Capital Allocation Moderate Conservative Portfolio, Columbia Capital Allocation Moderate Portfolio and Columbia Global Strategic Equity Fund. “Funds-of-Funds (fixed income)” includes Columbia Capital Allocation Conservative Portfolio and Columbia Income Builder Fund. Columbia Balanced Fund and Columbia Global Opportunities Fund are treated as equity Funds for purposes of the table. |
(a) | Purchase amounts and account values may be aggregated among all eligible Fund accounts for the purposes of this table. See Choosing a Share Class — Reductions/Waivers of Sales Charges for a discussion of account value aggregation. |
(b) | Because the offering price is calculated to two decimal places, the dollar amount of the sales charge as a percentage of the offering price and your net amount invested for any particular purchase of Fund shares may be higher or lower depending on whether downward or upward rounding was required during the calculation process. Purchase price includes the sales charge. |
(c) | For information regarding cumulative commissions paid to your selling agent when you buy Class A shares of a Fund in amounts not subject to initial sales charges, see Class A Shares — Commissions below. |
Class A Shares — CDSC
In some cases, you’ll pay a CDSC if you sell Class A shares that you purchased without an initial sales charge.
Tax-Exempt Funds
• | If you purchased Class A shares of any Tax-Exempt Fund (other than Columbia Short Term Municipal Bond Fund) on or after February 19, 2015 without an initial sales charge because your accounts aggregated $500,000 or more at the time of purchase, you will incur a CDSC of 0.75% if you redeem those shares within 12 months after purchase. Subsequent Class A share purchases made on or after February 19, 2015 that bring your aggregate account value to $500,000 or more will also be subject to a CDSC of 0.75% if you redeem them within 12 months after purchase. |
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• | If you purchased Class A shares of Columbia Short Term Municipal Bond Fund on or after February 19, 2015 without an initial sales charge because your accounts aggregated $500,000 or more at the time of purchase, you will incur a CDSC of 0.50% if you redeem those shares within 12 months after purchase. Subsequent Class A share purchases made on or after February 19, 2015 that bring your aggregate account value to $500,000 or more will also be subject to a CDSC of 0.50% if you redeem them within 12 months after purchase. |
• | If you purchased Class A shares of any Tax-Exempt Fund prior to February 19, 2015 without an initial sales charge because your accounts aggregated between $1 million and $50 million at the time of purchase, you will incur a CDSC if you redeem those shares within 18 months after purchase, which is charged as follows: 1.00% CDSC if shares are redeemed within 12 months after purchase; and 0.50% CDSC if shares are redeemed more than 12, but less than 18, months after purchase. Subsequent Class A share purchases made prior to February 19, 2015 that bring your aggregate account value to $1 million or more (but less than $50 million) will also be subject to a CDSC if you redeem them within 18 months after purchase as described in this paragraph. |
Taxable Funds
• | If you purchased Class A shares of any Taxable Fund without an initial sales charge because your accounts aggregated between $1 million and $50 million at the time of purchase, you will incur a CDSC if you redeem those shares within 18 months after purchase, which is charged as follows: 1.00% CDSC if shares are redeemed within 12 months after purchase; and 0.50% CDSC if shares are redeemed more than 12, but less than 18, months after purchase. Subsequent Class A share purchases that bring your aggregate account value to $1 million or more (but less than $50 million) will also be subject to a CDSC if you redeem them within 18 months after purchase as described in this paragraph. |
FUNDamentalsTM |
Contingent Deferred Sales Charge
A contingent deferred sales charge or CDSC is a sales charge applied at the time you sell your shares, unlike a front-end sales charge that is applied at the time of purchase. A CDSC varies based on the length of time that you have held your shares. A CDSC is applied to the NAV at the time of your purchase or sale, whichever is lower, and will not be applied to any shares you receive through reinvested distributions or any amount that represents appreciation in the value of your shares. For purposes of calculating a CDSC, the start of the holding period is generally the first day of the month in which your purchase was made.
When you place an order to sell shares of a class that has a CDSC, the Fund will first redeem any shares that aren’t subject to a CDSC, followed by those you have held the longest. This means that if a CDSC is imposed, you cannot designate the individual shares being redeemed for U.S. federal income tax purposes. You should consult your tax advisor about the tax consequences of investing in the Fund. In certain circumstances, the CDSC may not apply. See Choosing a Share Class — Reductions/Waivers of Sales Charges for details.
Class A Shares — Commissions
The Distributor may pay your selling agent an up-front commission when you buy Class A shares. The Distributor generally funds the commission through the applicable sales charge paid by you. For more information, see Class A Shares — Front-End Sales Charge — Breakpoint Schedule.
The Distributor may also pay your selling agent a cumulative commission when you buy Class A shares in amounts not subject to initial sales charges, according to the following schedule:
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Class A Shares of Tax-Exempt Funds — Commission Schedule (Paid by the Distributor to Selling Agents)
Purchase Amount | Commission Level* (as a % of net asset value per share) | |||
$500,000 –$3,999,999 | 0.75 | %** | ||
$4 million –$19,999,999 | 0.50 | % | ||
$20 million or more | 0.25 | % |
* | The commission level applies to the applicable asset level so, for example, for a purchase of $5 million, the Distributor would pay a commission of 0.75% on the first $4 million and 0.50% on the remaining $1 million. |
** | The commission level on purchases of Class A shares of Columbia Short Term Municipal Bond Fund is: 0.50% on purchases of $500,000 to $19,999,999 and 0.25% on purchases of $20 million or more. |
Class A Shares of Taxable Funds — Commission Schedule (Paid by the Distributor to Selling Agents)*
Purchase Amount | Commission Level** (as a % of net asset value per share) | |||
$1 million –$2,999,999 | 1.00 | % | ||
$3 million –$49,999,999 | 0.50 | % | ||
$50 million or more | 0.25 | % |
* | Not applicable to Funds that do not assess a front-end sales charge. |
** | The commission level applies to the applicable asset level so, for example, for a purchase of $5 million, the Distributor would pay a commission of 1.00% on the first $3 million and 0.50% on the remaining $2 million. |
Class B Shares — Sales Charges
The Funds no longer accept new investments in Class B shares, except for certain limited transactions as described in more detail under Buying, Selling and Exchanging Shares — Buying Shares — Eligible Investors — Class B Shares (Closed).
You don’t pay a front-end sales charge when you buy Class B shares, but you may pay a CDSC when you sell Class B shares.
Class B Shares — CDSC
You’ll pay a CDSC if you sell Class B shares unless you qualify for a waiver of the CDSC or the shares you’re selling were bought through reinvested distributions. See Choosing a Share Class — Reductions/Waivers of Sales Charges for details. The CDSC you pay on Class B shares depends on how long you’ve held your shares and generally declines each year until there is no sales charge, as follows:
Class B Shares — CDSC Schedule for the Funds (except those listed below)
Number of Years Class B Shares Held | Applicable CDSC* | |
One | 5.00% | |
Two | 4.00% | |
Three | 3.00% | |
Four | 3.00% | |
Five | 2.00% | |
Six | 1.00% | |
Seven | None | |
Eight | None | |
Nine | Conversion to Class A Shares |
* | Because of rounding in the calculation, the actual CDSC you pay may be more or less than the CDSC calculated using these percentages. |
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Class B Shares — CDSC Schedule for Columbia AMT-Free Intermediate Muni Bond Fund, the AMT-Free State-specific Intermediate Muni Bond Funds, Columbia Intermediate Bond Fund and Columbia Short Term Bond Fund
Number of Years Class B Shares Held | Applicable CDSC* | |||
One | 3.00 | % | ||
Two | 3.00 | % | ||
Three | 2.00 | % |
Class B Shares — CDSC Schedule for Columbia AMT-Free Intermediate Muni Bond Fund, the AMT-Free State-specific Intermediate Muni Bond Funds, Columbia Intermediate Bond Fund and Columbia Short Term Bond Fund
Number of Years Class B Shares Held | Applicable CDSC* | |
Four | 1.00% | |
Five | None | |
Six | None | |
Seven | None | |
Eight | None | |
Nine | Conversion to Class A Shares |
* | Because of rounding in the calculation, the actual CDSC you pay may be more or less than the CDSC calculated using these percentages. |
Class B shares of Columbia Short Term Municipal Bond Fund are not subject to a CDSC.
Class B Shares — Commissions
The Distributor paid an up-front commission directly to your selling agent when you bought the Class B shares (a portion of this commission may have been paid to your financial advisor).
This up-front commission, which varies across the Funds, was up to 4.00% of the net asset value per share of Funds with a maximum CDSC of 5.00% and of Class B shares of Columbia Short Term Municipal Bond Fund and up to 2.75% of the net asset value per share of Funds with a maximum CDSC of 3.00%. The Distributor continues to seek to recover this commission through distribution fees it receives under the Fund’s distribution plan and any applicable CDSC paid when you sell your shares. For more information, see Choosing a Share Class — Distribution and Service Fees.
Class B Shares — Conversion to Class A Shares
Class B shares of the Funds automatically convert to Class A shares at different times depending upon the Fund. In general, Class B shares convert to Class A shares after eight years. For details and related information about how the Funds’ Class B shares convert to Class A shares, see Appendix S to the SAI. Class B shares of Columbia Short Term Municipal Bond Fund do not convert to Class A shares.
Class C Shares — Front-End Sales Charge
You don’t pay a front-end sales charge when you buy Class C shares. Although Class C shares do not have a front-end sales charge, over time Class C shares can incur distribution and/or service fees that are equal to or more than the front-end sales charge and distribution and/or service fees you would pay for Class A shares. Thus, although the full amount of your purchase of Class C shares is invested in a Fund, any positive investment return on this money may be partially or fully offset by the expected higher annual expenses of Class C shares. If you are eligible to invest in Class A shares without a front-end sales charge, you should discuss your options with your Selling Agent. For more information, see Choosing a Share Class – Reductions/Waivers of Sales Charges.
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Class C Shares — CDSC
You’ll pay a CDSC of 1.00% if you redeem Class C shares within 12 months of buying them unless you qualify for a waiver of the CDSC or the shares you’re selling were purchased through reinvested distributions. For more information, see Choosing a Share Class — Reductions/Waivers of Sales Charges. Redemptions of Class C shares are not subject to a CDSC if redeemed after 12 months.
Class C Shares — Commissions
Although there is no front-end sales charge when you buy Class C shares, the Distributor pays an up-front commission directly to your selling agent of up to 1.00% of the NAV per share when you buy Class C shares (a portion of this commission may be paid to your financial advisor). The Distributor seeks to recover this commission through distribution fees it receives under the Fund’s distribution and/or service plan and any applicable CDSC applied when you sell your shares. For more information, see Choosing a Share Class — Distribution and Service Fees.
Class R Shares — Sales Charges and Commissions
You don’t pay a front-end sales charge when you buy Class R shares or a CDSC when you sell Class R shares. The Distributor pays an up-front commission directly to your selling agent when you buy Class R shares (a portion of this commission may be paid to your financial advisor), according to the following schedule:
Class R Shares — Commission Schedule (Paid by the Distributor to Selling Agents)
Purchase Amount | Commission Level (as a % of net asset value per share) | |||
$0 –$49,999,999 | 0.50 | % | ||
$50 million or more | 0.25 | % |
The Distributor seeks to recover this commission through distribution fees it receives under the Fund’s distribution plan. For more information, see Choosing a Share Class — Distribution and Service Fees.
Class T Shares — Front-End Sales Charge
You’ll pay a front-end sales charge when you buy Class T shares, resulting in a smaller dollar amount being invested in a Fund than the purchase price you pay, unless you qualify for a waiver of the sales charge or you buy the shares through reinvested distributions. For more information, see Choosing a Share Class — Reductions/Waivers of Sales Charges.
The front-end sales charge you’ll pay on Class T shares:
• | depends on the amount you’re investing (generally, the larger the investment, the smaller the percentage sales charge), and |
• | is based on the total amount of your purchase and the value of your account (and any other accounts eligible for aggregation of which you or your selling agent notifies the Fund). |
Class T Shares — Front-End Sales Charge — Breakpoint Schedule
Breakpoint Schedule For: | Dollar amount of shares bought(a) | Sales charge as a % of the offering price(b) | Sales charge as a % of the net amount invested(b) | Amount retained by or paid to selling agents as a % of the offering price | ||||||||||||
Equity Funds | $ | 0–$49,999 | 5.75 | % | 6.10 | % | 5.00 | % | ||||||||
$ | 50,000–$99,999 | 4.50 | % | 4.71 | % | 3.75 | % | |||||||||
$ | 100,000–$249,999 | 3.50 | % | 3.63 | % | 2.75 | % | |||||||||
$ | 250,000–$499,999 | 2.50 | % | 2.56 | % | 2.00 | % | |||||||||
$ | 500,000–$999,999 | 2.00 | % | 2.04 | % | 1.75 | % | |||||||||
$ | 1,000,000 or more | 0.00 | % | 0.00 | % | 0.00 | %(c) |
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Class T Shares — Front-End Sales Charge — Breakpoint Schedule
Breakpoint Schedule For: | Dollar amount of shares bought(a) | Sales charge as a % of the offering price(b) | Sales charge as a % of the net amount invested(b) | Amount retained by or paid to selling agents as a % of the offering price | ||||||||||||
Fixed Income Funds | $ | 0–$49,999 | 4.75 | % | 4.99 | % | 4.25 | % | ||||||||
$ | 50,000–$99,999 | 4.50 | % | 4.71 | % | 3.75 | % | |||||||||
$ | 100,000–$249,999 | 3.50 | % | 3.63 | % | 2.75 | % | |||||||||
$ | 250,000–$499,999 | 2.50 | % | 2.56 | % | 2.00 | % | |||||||||
$ | 500,000–$999,999 | 2.00 | % | 2.04 | % | 1.75 | % | |||||||||
$ | 1,000,000 or more | 0.00 | % | 0.00 | % | 0.00 | %(c) |
(a) | Purchase amounts and account values are aggregated among all eligible Fund accounts for the purposes of this table. |
(b) | Because the offering price is calculated to two decimal places, the dollar amount of the sales charge as a percentage of the offering price and your net amount invested for any particular purchase of Fund shares may be higher or lower depending on whether downward or upward rounding was required during the calculation process. |
(c) | For more information regarding cumulative commissions paid to your selling agent when you buy $1 million or more of Class T shares, see Class T Shares — Commissions below. |
Class T Shares — CDSC
In some cases, you’ll pay a CDSC if you sell Class T shares that you bought without an initial sales charge.
• | If you purchased Class T shares without a front-end sales charge because your accounts aggregated between $1 million and $50 million at the time of purchase, you will incur a CDSC if you redeem those shares within 18 months after purchase, which is charged as follows: 1.00% CDSC if shares are redeemed within 12 months after purchase, and 0.50% CDSC if shares are redeemed more than 12, but less than 18, months after purchase. |
• | Subsequent Class T share purchases that bring your aggregate account value to $1 million or more (but less than $50 million) will also be subject to a CDSC if you redeem them within the time periods noted above. |
Class T Shares — Commissions
The Distributor may pay your selling agent an up-front commission when you buy Class T shares (a portion of this commission may, in turn, be paid to your financial advisor). For more information, see Class T Shares — Front-End Sales Charge — Breakpoint Schedule, Amount retained by or paid to selling agents as a % of the offering price.
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The Distributor may also pay your selling agent a cumulative commission when you buy $1 million or more of Class T shares, according to the following schedule:
Class T Shares — Commission Schedule (Paid by the Distributor to Selling Agents)
Purchase Amount | Commission Level (as a % of net asset value per share) | |||
$1 million –$2,999,999 | 1.00 | % | ||
$3 million –$49,999,999 | 0.50 | % | ||
$50 million or more | 0.25 | % |
Reductions/Waivers of Sales Charges
Front-End Sales Charge Reductions
There are two ways in which you may be able to reduce the front-end sales charge that you may pay when you buy Class A shares or Class T shares of a Fund. These types of sales charge reductions are also referred to as breakpoint discounts.
First, through the right of accumulation (ROA), you may combine the value of eligible accounts maintained by you and members of your immediate family to reach a breakpoint discount level and apply a lower sales charge to your purchase. To calculate the combined value of your Fund accounts in the particular class of shares, the Fund will use the current public offering price per share. For purposes of obtaining a breakpoint discount through ROA, you may aggregate your or your immediate family members’ ownership of certain different classes of shares held in certain account types, as described in the Eligible Accounts section below.
Second, by making a statement of intent to purchase additional shares (commonly referred to as a letter of intent (LOI)), you may pay a lower sales charge on all purchases (including existing ROA purchases) of Class A shares or Class T shares made within 13 months after the date of your LOI. Your LOI must state the aggregate amount of purchases you intend to make in that 13-month period, which must be at least $50,000 (or $100,000 for Funds with breakpoint discounts beginning at $100,000). The required form of LOI may vary by selling agent, so please contact them directly for more information. Five percent of the purchase commitment amount will be placed in escrow. At the end of the 13-month period, the shares will be released from escrow, provided that you have invested the commitment amount. If you do not invest the commitment amount by the end of the 13 months, the remaining amount of the unpaid sales charge will be redeemed from the escrowed shares and the remaining balance released from escrow. To calculate the total value of the purchases you’ve made under an LOI, the Fund will use the historic cost (i.e., dollars invested) of the shares held in each eligible account. For purposes of making an LOI to purchase additional shares, you may aggregate your ownership of certain different classes of shares held in certain account types, as described in the Eligible Accounts section below.
You must request the reduced sales charge (whether through ROA or an LOI) when you buy shares. If you do not complete and file an LOI, or do not request the reduced sales charge at the time of purchase, you will not be eligible for the reduced sales charge. To obtain a breakpoint discount, you must notify your selling agent in writing at the time you buy your shares of each eligible account maintained by you and members of your immediate family, including accounts maintained through different selling agents. You and your selling agent are responsible for ensuring that you receive discounts for which you are eligible. The Fund is not responsible for a selling agent’s failure to apply the eligible discount to your account. You may be asked by your selling agent for account statements or other records to verify your discount eligibility, including, when applicable, records for accounts opened with a different selling agent and records of accounts established by members of your immediate family.
FUNDamentalsTM |
Your “Immediate Family” and Account Value Aggregation
For purposes of obtaining a breakpoint discount for Class A shares or Class T shares the value of your account will be deemed to include the value of all applicable shares in eligible Fund accounts that are held by you and your “immediate family,” which includes your spouse, domestic partner, parent, step-parent, legal guardian, child under 21, step-child under 21, father-in-law and mother-in-law, provided that you and your immediate family members share the same mailing address. Any Fund accounts linked together for account value aggregation purposes as of the close of business on September 3, 2010 will be permitted to remain linked together. Group plan accounts are valued at the plan level.
Eligible Accounts
The following accounts are eligible for account value aggregation as described above, provided that they are invested in Class A, Class B, Class C, Class E, Class F, Class T, Class W or Class Z shares of a Fund, or non-retirement plan accounts invested in Class R4 or Class R5 shares of a Fund: individual or joint accounts; Roth and traditional Individual Retirement Accounts (IRAs); Simplified Employee Pension accounts (SEPs), Savings Investment Match Plans for Employees of Small Employers accounts (SIMPLEs) and Tax Sheltered Custodial Accounts (TSCAs); Uniform Gifts to Minors Act (UGMA)/Uniform Transfers to Minors Act (UTMA) accounts for which you, your spouse, or your domestic partner is parent or guardian of the minor child; revocable trust accounts for which you or an immediate family member, individually, is the beneficial owner/grantor; accounts held in the name of your, your spouse’s, or your domestic partner’s sole proprietorship or single owner limited liability company or S corporation; qualified retirement plan assets, provided that you are the sole owner of the business sponsoring the plan, are the sole participant (other than a spouse) in the plan, and have no intention of adding participants to the plan; and investments in wrap accounts.
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The following accounts are not eligible for account value aggregation as described above: accounts of pension and retirement plans with multiple participants, such as 401(k) plans (which are combined to reduce the sales charge for the entire pension or retirement plan and therefore are not used to reduce the sales charge for your individual accounts); investments in 529 plans, donor advised funds, variable annuities, variable insurance products or managed separate accounts; charitable and irrevocable trust accounts; accounts holding shares of money market funds that used the Columbia brand before May 1, 2010; accounts invested in Class I, Class K, Class R or Class Y shares of a Fund; and retirement plan accounts invested in Class R4 or Class R5 shares of a Fund.
Additionally, direct purchases of Columbia Money Market Fund shares may not be aggregated; however, shares of Columbia Money Market Fund acquired by exchange from other Funds may be included in account value aggregation.
Front-End Sales Charge Waivers
The Distributor may waive front-end sales charges on purchases of Class A and Class T shares of the Funds by certain categories of investors, including Board members, certain employees of selling agents, Fund portfolio managers and certain retirement and employee benefit plans. The Distributor may waive front-end sales charges on (i) purchases (including exchanges) of Class A shares in accounts of selling agents that have entered into agreements with the Distributor to offer Fund shares to self-directed investment brokerage accounts that may or may not charge a transaction fee to customers and (ii) exchanges of Class Z shares of a Fund for Class A shares of the Fund. For a more complete description of categories of investors who may purchase Class A and Class T shares of the Funds at NAV, without payment of any front-end sales charge that would otherwise apply, see Appendix S to the SAI. In addition, certain types of purchases of Class A and Class T shares may be made at NAV. For a description of these eligible transactions, see Appendix S to the SAI.
CDSC Waivers
You may be able to avoid an otherwise applicable CDSC when you sell Class A, Class B, Class C or Class T shares of the Fund. This could happen because of the way in which you originally invested in the Fund, because of your relationship with the Funds or for other reasons. For example, the CDSC will be waived on redemptions of shares in the event of the shareholder’s death; that result from required minimum distributions taken from retirement accounts when the shareholder reaches age 70 1⁄2; in connection with the Fund’s Small Account Policy (which is described in Buying, Selling and Exchanging Shares — Transaction Rules and Policies); and by certain other investors and in certain other types of transactions. For a more complete description of the available waivers of the CDSC on redemptions of Class A, Class B, Class C or Class T shares, see Appendix S to the SAI.
Repurchases
Investors can also buy Class A shares without paying a sales charge if the purchase is made from the proceeds of a redemption of any Class A, Class B, Class C or Class T shares of a Fund (other than Columbia Money Market Fund) within 90 days, up to the amount of the redemption proceeds. Any CDSC paid upon redemption of your Class A, Class B, Class C or Class T shares of a Fund will not be reimbursed.
To be eligible for the reinstatement privilege, the purchase must be made into an account for the same owner, but does not need to be into the same Fund from which the shares were sold. The Transfer Agent, Distributor or their agents must receive a written reinstatement request from you or your selling agent within 90 days after the shares are redeemed and the purchase of Class A shares through this reinstatement privilege will be made at the NAV of such shares next calculated after the request is received in “good form.” The repurchased shares will be deemed to have the original purchase date for purposes of applying the CDSC (if any) to subsequent redemptions. Systematic withdrawals and purchases are excluded from this policy.
Restrictions and Changes in Terms and Conditions
Restrictions may apply to certain accounts and certain transactions. The Funds may change or cancel these terms and conditions at any time. Unless you provide your selling agent with information in writing about all of the factors that may count toward a waiver of a sales charge, there can be no assurance that you will receive all of the waivers for which you may be eligible. You should request that your selling agent provide this information to the Fund when placing your purchase order. Please see Appendix S of the SAI for more information about the sales charge reductions and waivers.
Distribution and Service Fees
The Board has approved, and the Funds have adopted, distribution and/or shareholder service plans which set the distribution and/or service fees that are periodically deducted from the Funds’ assets. These fees are calculated daily, may vary by share class and are intended to compensate the Distributor and/or eligible selling agents for selling Fund shares and directly or indirectly providing services to shareholders. Because the fees are paid out of the Fund’s assets on an ongoing basis, they will increase the cost of your investment over time.
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The table below shows the maximum annual distribution and/or service fees (as an annual % of average daily net assets) and the combined amount of such fees applicable to each share class:
Distribution Fee | Service Fee | Combined Total | ||||
Class A | up to 0.25% | up to 0.25% | up to 0.35%(a)(b)(c) | |||
Class B | 0.75%(d) | 0.25% | 1.00%(b) | |||
Class C | 0.75%(c)(e) | 0.25% | 1.00%(b) | |||
Class I | None | None | None | |||
Class K | None | None(f) | None(f) | |||
Class R (series of CFST and CFST I) | 0.50% | —(g) | 0.50% | |||
Class R (series of CFST II) | up to 0.50%(c) | up to 0.25% | 0.50%(g) | |||
Class R4 | None | None | None | |||
Class R5 | None | None | None | |||
Class T | None | 0.50%(h) | 0.50%(h) | |||
Class W | up to 0.25% | up to 0.25% | 0.25%(c) | |||
Class Y | None | None | None | |||
Class Z | None | None | None |
(a) | The maximum distribution and service fees of Class A shares varies among the Funds, as shown in the table below: |
Funds | Maximum Class A Distribution Fee | Maximum Class A Service Fee | Maximum Class A Combined Total | |||
Series of CFST | — | — | 0.25%; these Funds pay a combined distribution and service fee | |||
Series of CFST II (other than Columbia Money Market Fund) | up to 0.25% | up to 0.25% | 0.25% |
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Funds | Maximum Class A Distribution Fee | Maximum Class A Service Fee | Maximum Class A Combined Total | |||||
Columbia Money Market Fund | — | — | 0.10% | |||||
Columbia AMT-Free Oregon Intermediate Muni Bond Fund, Columbia Balanced Fund, Columbia Contrarian Core Fund, Columbia Dividend Income Fund, Columbia Global Technology Growth Fund, Columbia Intermediate Bond Fund, Columbia Large Cap Growth Fund, Columbia Mid Cap Growth Fund, Columbia Real Estate Equity Fund, Columbia Small Cap Core Fund, Columbia Small Cap Growth Fund I | up to 0.10% | up to 0.25% | up to 0.35%; these Funds may pay distribution and service fees up to a maximum of 0.35% of their average daily net assets attributable to Class A shares (comprised of up to 0.10% for distribution services and up to 0.25% for shareholder liaison services) but currently limit such fees to an aggregate fee of not more than 0.25% for Class A shares | |||||
Columbia Adaptive Alternatives Fund, Columbia Adaptive Risk Allocation Fund, Columbia AMT-Free Connecticut Intermediate Muni Bond Fund, Columbia AMT-Free Massachusetts Intermediate Muni Bond Fund, Columbia AMT-Free New York Intermediate Muni Bond Fund, Columbia Bond Fund, Columbia California Tax-Exempt Fund, Columbia Corporate Income Fund, Columbia Diversified Absolute Return Fund, Columbia Diversified Real Return Fund, Columbia Emerging Markets Fund, Columbia Global Dividend Opportunity Fund, Columbia Global Energy and Natural Resources Fund, Columbia Global Unconstrained Bond Fund, Columbia Greater China Fund, Columbia Multi-Asset Income Fund, Columbia New York Tax-Exempt Fund, Columbia Pacific/Asia Fund, Columbia Select Large Cap Growth Fund, Columbia Small Cap Value Fund I, Columbia Strategic Income Fund, Columbia U.S. Social Bond Fund, Columbia U.S. Treasury Index Fund, Columbia Value and Restructuring Fund | — | 0.25% | 0.25% | |||||
Columbia AMT-Free Intermediate Muni Bond Fund, Columbia High Yield Municipal Fund, Columbia Tax Exempt Fund | — | 0.20% | 0.20% |
(b) | The service fees for Class A, Class B and Class C shares of certain Funds vary. The annual service fee for Class A, Class B and Class C shares of Columbia AMT-Free Intermediate Muni Bond Fund, Columbia High Yield Municipal Fund and Columbia Tax-Exempt Fund may equal up to 0.20% of the average daily net asset value of all shares of such Fund class. The annual distribution fee for Class B and Class C shares for Columbia AMT-Free Intermediate Muni Bond Fund shall be 0.65% of the average daily net assets of the Fund’s Class B and Class C shares. Fee amounts noted apply to Class B shares of the Funds other than Class B shares of Columbia Money Market Fund, which pays distribution fees of up to 0.75% and service fees of up to 0.10% for a combined total of 0.85%. The Distributor has currently agreed not to be reimbursed by the Fund for 0.10% of the 0.85% fee for Class B shares of Columbia Money Market Fund. The Distributor has voluntarily agreed to waive the service fee for Class A, Class B and Class C shares of Columbia U.S. Treasury Index Fund so that the service fee does not exceed 0.15% annually. This arrangement may be modified or terminated by the Distributor at any time. |
(c) | Fee amounts noted apply to all Funds other than Columbia Money Market Fund, which, for each of Class A and Class W shares, pays distribution and service fees of 0.10%, and for Class C shares pays distribution fees of 0.75%. The Distributor has currently agreed not to be reimbursed by the Fund for 0.25% of the 0.50% fee for Class R shares of Columbia Money Market Fund. The Distributor has voluntarily agreed to waive the 12b-1 fees it receives from Class A, Class C, Class R and Class W shares of Columbia Money Market Fund. This arrangement may be modified or terminated by the Distributor at any time. Compensation paid to broker-dealers and other selling agents may be suspended to the extent of the Distributor’s waiver of the 12b-1 fees on these specific share classes of these Funds. |
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(d) | The Distributor has voluntarily agreed to waive a portion of the distribution fee it receives from Class B shares of Columbia Short Term Bond Fund so that the distribution fee does not exceed 0.30% annually. This arrangement may be modified or terminated by the Distributor at any time. |
(e) | The Distributor has voluntarily agreed to waive a portion of the distribution fee for Class C shares of the following Funds so that the distribution fee does not exceed the specified percentage annually: 0.45% for Columbia AMT-Free Connecticut Intermediate Muni Bond Fund, Columbia AMT-Free Massachusetts Intermediate Muni Bond Fund, Columbia AMT-Free New York Intermediate Muni Bond Fund, Columbia AMT-Free Oregon Intermediate Muni Bond Fund, Columbia California Tax-Exempt Fund and Columbia New York Tax-Exempt Fund; 0.60% for Columbia Corporate Income Fund and Columbia Short Term Bond Fund; 0.65% for Columbia High Yield Municipal Fund and Columbia Tax-Exempt Fund; and 0.70% for Columbia U.S. Treasury Index Fund. These arrangements may be modified or terminated by the Distributor at any time. |
(f) | Under a plan administration services agreement, the Funds’ Class K shares pay for plan administration services. These fees for Class K shares are not paid pursuant to a 12b-1 plan. See Class K Plan Administration Services Fee below for more information. |
(g) | Class R shares of series of CFST and CFST I pay a distribution fee pursuant to a distribution (Rule 12b-1) plan for Class R shares. The Funds do not have a shareholder service plan for Class R shares. Series of CFST II have a distribution and shareholder service plan for Class R shares, which, prior to the close of business on September 3, 2010, were known as Class R2 shares. For Class R shares of series of CFST II, the maximum fee under the plan reimbursed for distribution expenses is equal on an annual basis to 0.50% of the average daily net assets of the Fund attributable to Class R shares. Of that amount, up to 0.25% may be reimbursed for shareholder service expenses. |
(h) | The shareholder servicing fees for Class T shares are up to 0.50% of average daily net assets attributable to Class T shares for equity Funds and 0.40% for fixed income Funds. In general, the Funds currently limit such fees to a maximum of 0.25% for equity Funds and 0.15% for fixed-income Funds. See Class T Shareholder Service Fees below for more information. |
The distribution and/or service fees for Class A, Class B, Class C, Class R and Class W shares, as applicable, may be subject to the requirements of Rule 12b-1 under the 1940 Act. The Distributor may retain these fees otherwise payable to selling agents if the amounts due are below an amount determined by the Distributor in its sole discretion.
Series of CFST II. For Class A, Class B and Class W shares, the Distributor begins to pay these fees immediately after purchase. For Class C shares, the Distributor pays these fees in advance for the first 12 months. Selling agents also receive distribution fees up to 0.75% of the average daily net assets of Class C shares sold and held through them, which the Distributor begins to pay 12 months after purchase. For Class B shares and for the first 12 months following the sale of Class C shares, the Distributor retains the distribution fee of up to 0.75% in order to finance the payment of sales commissions to selling agents and to pay for other distribution related expenses. Selling agents may compensate their financial advisors with the shareholder service and distribution fees paid to them by the Distributor. The maximum fee for services under the distribution and/or shareholder servicing plan for series of CFST II is the lesser of the amount of reimbursable expenses and the fee rates in the table above. If a share class of a series of CFST II has no reimbursable distribution or shareholder servicing expenses, it will suspend the payment of any such fee.
Series of CFST and CFST I. For Class R shares and, with the exception noted in the next sentence, Class A shares, the Distributor begins to pay these fees immediately after purchase. For Class B shares, Class A shares (if purchased as part of a purchase of shares of $1 million or more) and, with the exception noted in the next sentence, Class C shares, the Distributor begins to pay these fees 12 months after purchase (for Class B share, and for the first 12 months following the sale of Class C shares, the Distributor retains the distribution fee of up to 0.75% in order to finance the payment of sales commissions to selling agents and to pay for other distribution related expenses). For Class C shares, selling agents may opt to decline payment of sales commission and, instead, may receive these fees immediately after purchase. Selling agents may compensate their financial advisors with the shareholder service and distribution fees paid to them by the Distributor.
If you maintain shares of the Fund directly with the Fund, without working directly with a financial advisor or other selling agent, distribution and service fees may be retained by the Distributor as payment or reimbursement for incurring certain distribution and shareholder service related expenses.
Over time, these distribution and/or service fees will reduce the return on your investment and may cost you more than paying other types of sales charges. The Fund will pay these fees to the Distributor and/or to eligible selling agents for as long as the distribution plan and/or shareholder servicing plans continue in effect, which is expected to be indefinitely. The Fund may reduce or discontinue payments at any time. Your selling agent may also charge you other additional fees for providing services to your account, which may be different from those described here.
Class K Plan Administration Services Fee
Class K shares pay an annual plan administration services fee for the provision of various administrative, recordkeeping, communication and educational services, including services such as implementation and conversion services, account set-up and maintenance, reconciliation and account recordkeeping, education services and administration to various plan types, including 529 plans, retirement plans and health savings accounts. The fee for Class K shares is equal on an annual basis to 0.25% of average daily net assets attributable to the class.
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Class T Shareholder Services Fees
The Funds that offer Class T shares have adopted a shareholder services plan that permits them to pay for certain services provided to Class T shareholders by their selling agents. Equity Funds may pay shareholder servicing fees up to an aggregate annual rate of 0.50% of the Fund’s average daily net assets attributable to Class T shares (comprised of up to 0.25% for shareholder liaison services and up to 0.25% for administrative support services). Fixed income Funds may pay shareholder servicing fees up to an aggregate annual rate of 0.40% of the Fund’s average daily net assets attributable to Class T shares (comprised of up to 0.20% for shareholder liaison services and up to 0.20% for administrative support services). These fees are currently limited to an aggregate annual rate of not more than 0.25% for equity Funds and not more than 0.15% for fixed income Funds. With respect to those Funds that declare dividends on a daily basis, the shareholder servicing fee shall be waived by the selling agents to the extent necessary to prevent net investment income from falling below 0% on a daily basis. If you maintain shares of the Fund directly with the Fund, without working with a financial advisor or other intermediary, shareholder services fees may be retained by the Distributor as payment or reimbursement for incurring certain shareholder service related expenses.
Selling Agent Compensation
The Distributor, the Investment Manager and their affiliates make payments, from their own resources, to selling agents, including other Ameriprise Financial affiliates, for marketing/sales support services relating to the Funds (Marketing Support Payments). Such payments are generally based upon one or more of the following factors: average net assets of the Funds sold by the Distributor attributable to that selling agent; gross sales of the Funds distributed by the Distributor attributable to that selling agent; reimbursement of ticket charges (fees that a selling agent charges its representatives for effecting transactions in Fund shares); or a negotiated lump sum payment. While the financial arrangements may vary for each selling agent, Marketing Support Payments to any one selling agent are generally between 0.05% and 0.40% on an annual basis for payments based on average net assets of the Fund attributable to the selling agent, and between 0.05% and 0.25% on an annual basis for firms receiving a payment based on gross sales of the Funds attributable to the selling agent. The Distributor, the Investment Manager and their affiliates may make payments in larger amounts or on a basis other than those described above when dealing with certain selling agents, including certain affiliates of Bank of America Corporation (Bank of America). Such increased payments may enable such selling agents to offset credits that they may provide to customers. The Distributor, the Investment Manager and their affiliates do not make Marketing Support Payments with respect to Class Y shares; provided, however, that such payments are made to Bank of America with respect to Class Y shares of Columbia Bond Fund, Columbia Global Dividend Opportunity Fund, Columbia Income Opportunities Fund, Columbia Large Cap Enhanced Core Fund, Columbia Mid Cap Growth Fund, Columbia Mid Cap Value Fund, Columbia Select International Equity Fund, Columbia Short Term Bond Fund, Columbia Small Cap Growth Fund I and Columbia Small Cap Value Fund I.
In addition, the Transfer Agent has certain arrangements in place to compensate selling agents, including other Ameriprise Financial affiliates, that hold Fund shares through omnibus accounts, including omnibus retirement plans, for services that they provide to beneficial shareholders (Shareholder Services). Shareholder Services may include sub-accounting, sub-transfer agency, participant recordkeeping, shareholder or participant reporting, shareholder or participant transaction processing, maintenance of shareholder records, preparation of account statements and provision of customer service. Payments for Shareholder Services vary by selling agent but generally are not expected, with certain limited exceptions, to exceed 0.40% of the average aggregate value of the Fund’s shares.
Generally, each Fund (other than the Columbia Acorn Funds) pays a percentage of the average aggregate value of shares maintained in omnibus accounts: up to 0.20% for all share classes other than Class I, K, R5 and Y shares; 0.05% for Class K and R5 shares; and 0% for Class I and Y shares. The amounts in excess of that reimbursed by the Fund are borne by the Distributor, the Investment Manager and/or their affiliates. The Transfer Agent does not pay selling agents for Shareholder Services and the Fund does not pay the Transfer Agent for any Shareholder Services provided by selling agents, with respect to Class Y shares.
In addition to the payments described above, the Distributor, the Investment Manager and their affiliates may make other payments or allow promotional incentives to broker-dealers to the extent permitted by SEC and Financial Industry Regulatory Authority (FINRA) rules and by other applicable laws and regulations.
Amounts paid by the Distributor, the Investment Manager and their affiliates are paid out of their own resources and do not increase the amount paid by you or the Fund. You can find further details in the SAI about the payments made by the Distributor, the Investment Manager and their affiliates, as well as a list of the selling agents, including Ameriprise Financial affiliates, to which the Distributor and the Investment Manager have agreed to make Marketing Support Payments and pay Shareholder Services fees.
Your selling agent may charge you fees and commissions in addition to those described in this prospectus. You should consult with your selling agent and review carefully any disclosure your selling agent provides regarding its services and compensation. Depending on the financial arrangement in place at any particular time, a selling agent and its financial advisors may have a financial incentive for recommending the Fund or a particular share class over others.
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Share Price Determination
The price you pay or receive when you buy, sell or exchange shares is the Fund’s next determined net asset value (or NAV) per share for a given share class. The Fund calculates the NAV per share for each class of shares of the Fund at the end of each business day.
FUNDamentalsTM |
NAV Calculation
Each of the Fund’s share classes calculates its NAV as follows:
NAV = (Value of assets of the share class) – (Liabilities of the share class)
Number of outstanding shares of the class
FUNDamentalsTM |
Business Days
A business day is any day that the New York Stock Exchange (NYSE) is open. A business day ends at the close of regular trading on the NYSE, usually at 4:00 p.m. Eastern time. If the NYSE closes early, the business day ends as of the time the NYSE closes. On holidays and other days when the NYSE is closed, the Fund’s NAV is not calculated and the Fund does not accept buy or sell orders. However, the value of the Fund’s assets may still be affected on such days to the extent that the Fund holds foreign securities that trade on days that foreign securities markets are open.
Equity securities are valued primarily on the basis of market quotations reported on stock exchanges and other securities markets around the world. If an equity security is listed on a national exchange, the security is valued at the closing price or, if the closing price is not readily available, the mean of the closing bid and asked prices. Certain equity securities, debt securities and other assets are valued differently. For instance, bank loans trading in the secondary market are valued primarily on the basis of indicative bids, fixed-income investments maturing in 60 days or less are valued primarily using the amortized cost method, unless this methodology results in a valuation that does not approximate the market value of these securities, and those maturing in excess of 60 days are valued primarily using a market-based price obtained from a pricing service, if available. Investments in other open-end funds are valued at their latest NAVs. Both market quotations and indicative bids are obtained from outside pricing services approved and monitored pursuant to a policy approved by the Fund’s Board. For a money market fund, the Fund’s investments are generally valued at amortized cost, which approximates market value.
If a market price is not readily available or is deemed not to reflect market value, the Fund will determine the price of a portfolio security based on a determination of the security’s fair value pursuant to a policy approved by the Fund’s Board. In addition, the Fund may use fair valuation to price securities that trade on a foreign exchange when a significant event has occurred after the foreign exchange closes but before the time at which the Fund’s share price is calculated. Foreign exchanges typically close before the time at which Fund share prices are calculated, and may be closed altogether on some days when the Fund is open. Such significant events affecting a foreign security may include, but are not limited to: (1) corporate actions, earnings announcements, litigation or other events impacting a single issuer; (2) governmental action that affects securities in one sector or country; (3) natural disasters or armed conflicts affecting a country or region; or (4) significant domestic or foreign market fluctuations. The Fund uses various criteria, including an evaluation of U.S. market moves after the close of foreign markets, in determining whether a foreign security’s market price is readily available and reflective of market value and, if not, the fair value of the security. To the extent the Fund has significant holdings of small cap stocks, high-yield bonds, floating rate loans, or tax-exempt, foreign or other securities that may trade infrequently, fair valuation may be used more frequently than for other funds.
Fair valuation may have the effect of reducing stale pricing arbitrage opportunities presented by the pricing of Fund shares. However, when the Fund uses fair valuation to price securities, it may value those securities higher or lower than another fund would have priced the security. Also, the use of fair valuation may cause the Fund’s performance to diverge to a greater degree from the performance of various benchmarks used to compare the Fund’s performance because benchmarks generally do not use fair valuation techniques. Because of the judgment involved in fair valuation decisions, there can be no assurance that the value ascribed to a particular security is accurate. The Fund has retained one or more independent fair valuation pricing services to assist in the fair valuation process for foreign securities.
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Transaction Rules and Policies
The Fund, the Distributor or the Transfer Agent may refuse any order to buy or exchange shares. If this happens, the Fund will return any money it received, but no interest will be paid on that money.
Order Processing
Orders to buy, sell or exchange Fund shares are processed on business days. Depending upon the class of shares, orders can be made by mail, by telephone or online. Orders received in “good form” by the Transfer Agent or your selling agent before the end of a business day are priced at the NAV per share of the Fund’s applicable share class on that day. Orders received after the end of a business day will receive the next business day’s NAV per share. When a written order to buy, sell or exchange shares is sent to the Transfer Agent, the share price used to fill the order is the next price calculated by the Fund after the Transfer Agent receives the order at its transaction processing center in Canton, Massachusetts, not the P.O. Box provided for regular mail delivery. The market value of the Fund’s investments may change between the time you submit your order and the time the Fund next calculates its NAV per share. The business day that applies to your order is also called the trade date.
“Good Form”
An order is in “good form” if the Transfer Agent or your selling agent has all of the information and documentation it deems necessary to effect your order. For example, when you sell shares by letter of instruction, “good form” means that your letter has (i) complete instructions and the signatures of all account owners, (ii) a Medallion Signature Guarantee for amounts greater than $100,000 and other transactions, as described below, and (iii) any other required documents completed and attached. For the documents required for sales by corporations, agents, fiduciaries, surviving joint owners and other legal entities, call 800.345.6611.
Medallion Signature Guarantees
The Transfer Agent may require a Medallion Signature Guarantee for your signature in order to process certain transactions. A Medallion Signature Guarantee helps assure that a signature is genuine and not a forgery. A Medallion Signature Guarantee must be provided by an eligible guarantor institution including, but not limited to, the following: a bank, credit union, savings association, broker or dealer that participates in the Securities Transfer Association Medallion Program (STAMP), the Stock Exchange Medallion Program (SEMP) or the New York Stock Exchange Medallion Signature Program (MSP). Notarization by a notary public is not an acceptable signature guarantee. The Transfer Agent reserves the right to reject a signature guarantee and to request additional documentation for any transaction.
A Medallion Signature Guarantee is required if: (i) the transaction amount is over $100,000; (ii) you want your check made payable to someone other than the registered account owner(s); (iii) the address of record has changed within the last 30 days; (iv) you want the check mailed to an address other than the address of record; (v) you want proceeds to be sent according to existing bank account instructions not coded for outgoing Automated Clearing House (ACH) or wire, or to a bank account not on file; (vi) you are the beneficiary of the account and the account owner is deceased (other documentation may be required); or (vii) you are changing legal ownership of your account.
Customer Identification Program
Federal law requires the Fund to obtain and record specific personal information to verify your identity when you open an account. This information may include your name, address, date of birth (for individuals) and taxpayer or other government issued identification (e.g., social security number (SSN) or other taxpayer identification number (TIN)). If you fail to provide the requested information, the Fund may need to delay the date of your purchase or may be unable to open your account, which may result in a return of your investment monies. In addition, if the Fund is unable to verify your identity after your account is open, the Fund reserves the right to close your account or take other steps as deemed reasonable. The Fund will not be liable for any loss resulting from any purchase delay, application rejection or account closure due to a failure to provide proper identifying information.
Small Account Policy — Class A, Class B, Class C, Class T and Class Z Share Accounts Below the Minimum Account Balance
The Funds generally will automatically sell your shares if the value of your Fund account (treating each account of the Fund you own separately from any other account of the Fund you may own) falls below the applicable Minimum Account Balance. The Minimum Account Balance varies among Funds, share classes and types of accounts, as follows:
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Minimum Account Balance
Minimum Account Balance | ||
For all Funds, classes and account types except those listed below | $250 (None for accounts with Systematic Investment Plans) | |
Individual Retirement Accounts for all Funds and classes except those listed below | None | |
Columbia Absolute Return Currency and Income Fund | $5,000 | |
Columbia Floating Rate Fund and Columbia Inflation Protected Securities Fund | $2,500 | |
Class I, Class K, Class R, Class R4, Class R5, Class W and Class Y | None |
If your shares are sold, the Transfer Agent will remit the sale proceeds to you. Any otherwise applicable CDSC will not be imposed on such an automatic sale of your shares. The Transfer Agent will send you written notification in advance of any automatic sale, which will provide details on how you may avoid such an automatic sale. Generally, you may avoid such an automatic sale by raising your account balance, consolidating your accounts through an exchange of shares of another Fund in which you hold shares, or setting up a Systematic Investment Plan. For more information, contact the Transfer Agent or your selling agent. The Transfer Agent’s contact information (toll-free number and mailing addresses) as well as the Funds’ website address can be found at the beginning of the section Choosing a Share Class.
The Fund also may sell your Fund shares if your selling agent tells us to sell your shares pursuant to arrangements made with you, and under certain other circumstances allowed under the 1940 Act.
Small Account Policy — Class A, Class B, Class C, Class T and Class Z Share Accounts Minimum Balance Fee
If the value of your Fund account (treating each account of the Fund you own separately from any other account of the Fund you may own) falls below the minimum initial investment requirement applicable to you for any reason, including as a result of market decline, your account generally will be subject to a $20 annual fee. This fee will be assessed through the automatic sale of Fund shares in your account. Any otherwise applicable CDSC will not be imposed on such an automatic sale of your shares. The Transfer Agent will reduce the expenses paid by the Fund by any amounts it collects from the assessment of this fee. For Funds that do not have transfer agency expenses against which to offset the amount collected through assessment of this fee, the fee will be paid directly to the Fund. The Transfer Agent will send you written notification in advance of assessing any fee, which will provide details on how you can avoid the imposition of such fee. Generally, you may avoid the imposition of such fee by raising your Fund account balance, consolidating your Fund accounts through an exchange of shares of another Fund in which you hold shares, or setting up a Systematic Investment Plan that invests at least monthly. For more information, contact the Transfer Agent or your selling agent. The Transfer Agent’s contact information (toll-free number and mailing addresses) as well as the Funds’ website address can be found at the beginning of the section Choosing a Share Class.
The Funds reserve the right to lower the account size trigger point for the minimum balance fee in any year or for any class of shares when we believe it is appropriate to do so in light of declines in the market value of Fund shares, sales loads applicable to a particular class of shares, or for other reasons.
Exceptions to the Small Account Policy (Accounts Below Minimum Account Balance and Minimum Balance Fee)
The automatic sale of Fund shares of accounts under $250 and the annual minimum balance fee described above do not apply to shareholders of Class I, Class K, Class R, Class R4, Class R5, Class W and Class Y shares; shareholders holding their shares through broker-dealer networked accounts; wrap fee and omnibus accounts; accounts with active Systematic Investment Plans; certain qualified retirement plans; and health savings accounts. The automatic sale of Fund shares of accounts under the applicable Minimum Account Balance does not apply to individual retirement plans.
Small Account Policy — Broker-Dealer and Wrap Fee Accounts
The Funds may automatically redeem, at any time, broker-dealer networked accounts and wrap fee accounts that have account balances of $20 or less or have less than one share.
Information Sharing Agreements
As required by Rule 22c-2 under the 1940 Act, the Funds or certain of their service providers will enter into information sharing agreements with selling agents, including participating life insurance companies and selling agents that sponsor or offer retirement plans through which shares of the Funds are made available for purchase. Pursuant to Rule 22c-2, selling agents are required, upon request, to: (i) provide shareholder account and transaction information; and (ii) execute instructions from the Fund to restrict or prohibit further purchases of Fund shares by shareholders who have been identified by the Fund as having engaged in transactions that violate the Fund’s excessive trading policies and procedures.
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Excessive Trading Practices Policy of Non-Money Market Funds
Right to Reject or Restrict Share Transaction Orders — The Fund is intended for investors with long-term investment purposes and is not intended as a vehicle for frequent trading activity (market timing) that is excessive. Investors should transact in Fund shares primarily for investment purposes. The Board has adopted excessive trading policies and procedures that are designed to deter excessive trading by investors (the Excessive Trading Policies and Procedures). The Fund discourages and does not accommodate excessive trading.
The Fund reserves the right to reject, without any prior notice, any purchase or exchange order for any reason, and will not be liable for any loss resulting from rejected orders. For example, the Fund may in its sole discretion restrict or reject a purchase or exchange order even if the transaction is not subject to the specific limitation described below if the Fund or its agents determine that accepting the order could interfere with efficient management of the Fund’s portfolio or is otherwise contrary to the Fund’s best interests. The Excessive Trading Policies and Procedures apply equally to purchase or exchange transactions communicated directly to the Transfer Agent and to those received by selling agents.
Specific Buying and Exchanging Limitations — If a Fund detects that an investor has made two “material round trips” in any 28-day period, it will generally reject the investor’s future purchase orders, including exchange purchase orders, involving any Fund.
For these purposes, a “round trip” is a purchase or exchange into the Fund followed by a sale or exchange out of the Fund, or a sale or exchange out of the Fund followed by a purchase or exchange into the Fund. A “material” round trip is one that is deemed by the Fund to be material in terms of its amount or its potential detrimental impact on the Fund. Independent of this limit, the Fund may, in its sole discretion, reject future buy orders by any person, group or account that appears to have engaged in any type of excessive trading activity.
These limits generally do not apply to automated transactions or transactions by registered investment companies in a “fund-of-funds” structure. These limits do not apply to payroll deduction contributions by retirement plan participants, transactions initiated by a retirement plan sponsor or certain other retirement plan transactions consisting of rollover transactions, loan repayments and disbursements, and required minimum distribution redemptions. They may be modified or rescinded for accounts held by certain retirement plans to conform to plan limits, for considerations relating to the Employee Retirement Income Security Act of 1974 or regulations of the Department of Labor, and for certain asset allocation or wrap programs. Accounts known to be under common ownership or control generally will be counted together, but accounts maintained or managed by a common intermediary generally will not be considered to be under common ownership or control. The Fund retains the right to modify these restrictions at any time without prior notice to shareholders. In addition, the Fund may, in its sole discretion, reinstate trading privileges that have been revoked under the Fund’s Excessive Trading Policies and Procedures.
Limitations on the Ability to Detect and Prevent Excessive Trading Practices — The Fund takes various steps designed to detect and prevent excessive trading, including daily review of available shareholder transaction information. However, the Fund receives buy, sell or exchange orders through selling agents, and cannot always know of or reasonably detect excessive trading that may be facilitated by selling agents or by the use of the omnibus account arrangements they offer. Omnibus account arrangements are common forms of holding shares of mutual funds, particularly among certain selling agents such as broker-dealers, retirement plans and variable insurance products. These arrangements often permit selling agents to aggregate their clients’ transactions and accounts, and in these circumstances, the identity of the shareholders is often not known to the Fund.
Some selling agents apply their own restrictions or policies to underlying investor accounts, which may be more or less restrictive than those described here. This may impact the Fund’s ability to curtail excessive trading, even where it is identified. For these and other reasons, it is possible that excessive trading may occur despite the Fund’s efforts to detect and prevent it.
Although these restrictions and policies involve judgments that are inherently subjective and may involve some selectivity in their application, the Fund seeks to act in a manner that it believes is consistent with the best interests of shareholders in making any such judgments.
Risks of Excessive Trading — Excessive trading creates certain risks to the Fund’s long-term shareholders and may create the following adverse effects:
• | negative impact on the Fund’s performance; |
• | potential dilution of the value of the Fund’s shares; |
• | interference with the efficient management of the Fund’s portfolio, such as the need to maintain undesirably large cash positions, the need to use its line of credit or the need to buy or sell securities it otherwise would not have bought or sold; |
• | losses on the sale of investments resulting from the need to sell securities at less favorable prices; |
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• | increased taxable gains to the Fund’s remaining shareholders resulting from the need to sell securities to meet sell orders; and |
• | increased brokerage and administrative costs. |
To the extent that the Fund invests significantly in foreign securities traded on markets that close before the Fund’s valuation time, it may be particularly susceptible to dilution as a result of excessive trading. Because events may occur after the close of foreign markets and before the Fund’s valuation time that influence the value of foreign securities, investors may seek to trade Fund shares in an effort to benefit from their understanding of the value of foreign securities as of the Fund’s valuation time. This is often referred to as price arbitrage. The Fund has adopted procedures designed to adjust closing market prices of foreign securities under certain circumstances to reflect what the Fund believes to be the fair value of those securities as of its valuation time. To the extent the adjustments do not work fully, investors engaging in price arbitrage may cause dilution in the value of the Fund’s shares held by other shareholders.
Similarly, to the extent that the Fund invests significantly in thinly traded high-yield bonds (junk bonds) or equity securities of small-capitalization companies, because these securities are often traded infrequently, investors may seek to trade Fund shares in an effort to benefit from their understanding of the value of these securities. This is also a type of price arbitrage. Any such frequent trading strategies may interfere with efficient management of the Fund’s portfolio to a greater degree than would be the case for mutual funds that invest in highly liquid securities, in part because the Fund may have difficulty selling those portfolio securities at advantageous times or prices to satisfy large and/or frequent sell orders. Any successful price arbitrage may also cause dilution in the value of Fund shares held by other shareholders.
Excessive Trading Practices Policy of Columbia Money Market Fund
A money market fund is designed to offer investors a liquid cash option that they may buy and sell as often as they wish. Accordingly, the Board has not adopted policies and procedures designed to discourage excessive or short-term trading of Columbia Money Market Fund shares. However, since frequent purchases and sales of Columbia Money Market Fund shares could in certain instances harm shareholders in various ways, including reducing the returns to long-term shareholders by increasing costs (such as spreads paid to dealers who trade money market instruments with Columbia Money Market Fund) and disrupting portfolio management strategies, Columbia Money Market Fund reserves the right, but has no obligation, to reject any purchase or exchange transaction at any time. Except as expressly described in this prospectus (such as minimum purchase amounts), Columbia Money Market Fund has no limits on purchase or exchange transactions. In addition, Columbia Money Market Fund reserves the right to impose or modify restrictions on purchases, exchanges or trading of Fund shares at any time.
Opening an Account and Placing Orders
We encourage you to consult with a financial advisor who can help you with your investment decisions and who can help you open an account. Once you have an account, you can buy, sell or exchange shares by contacting your financial advisor who will send your order to the Transfer Agent or your selling agent. As described below, once you have an account you can also communicate your orders directly to the Transfer Agent by mail, by telephone or online.
The Funds are generally available directly and through broker-dealers, banks and other selling agents or institutions, and through certain qualified and non-qualified plans, wrap fee products or other investment products sponsored by selling agents. You may exchange or sell shares through your selling agent. If you maintain your account directly with your selling agent, you must contact that agent to process your transaction.
Not all selling agents offer the Funds and certain selling agents that offer the Funds may not offer all Funds on all investment platforms or programs. Please consult with your financial advisor to determine the availability of the Funds. If you set up an account at a selling agent that does not have, and is unable to obtain, a selling agreement with the Distributor, you will not be able to transfer Fund holdings to that account. In that event, you must either maintain your Fund holdings with your current selling agent, find another selling agent with a selling agreement, or sell your Fund shares, paying any applicable CDSC. Please be aware that transactions in taxable accounts are taxable events and may result in income tax liability.
Selling agents that offer the Funds may charge you additional fees for the services they provide and they may have different policies that are not described in this prospectus. Some policy differences may include different minimum investment amounts, exchange privileges, Fund choices and cutoff times for investments. Additionally, recordkeeping, transaction processing and payments of distributions relating to your account may be performed by the selling agents through which your shares of the Fund are held. Since the Fund (and its service providers) may not have a record of your account transactions, you should always contact the financial advisor employed by the selling agent through which you purchased or at which you maintain your shares of the Fund to make changes to your account or to give instructions concerning your account, or to obtain information about your account. The Fund and its service providers, including the Distributor and the Transfer Agent, are not responsible for the failure of these selling agents to carry out their obligations to its customers.
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The Fund may engage selling agents to receive purchase, exchange and sell orders on its behalf. Accounts established directly with the Fund will be serviced by the Transfer Agent. The Funds, the Transfer Agent and the Distributor do not provide investment advice.
Accounts Established Directly with the Fund
You or the financial advisor through which you buy shares may establish an account with the Fund. To do so, complete a Fund account application with your financial advisor or investment professional, and mail the account application to the Transfer Agent. Account applications may be obtained at columbiathreadneedle.com/us or may be requested by calling 800.345.6611. Make your check payable to the Fund. You will be assessed a $15 fee for any checks rejected by your financial institution due to insufficient funds or other reasons. The Funds do not accept cash, credit card convenience checks, money orders, traveler’s checks, starter checks, third or fourth party checks, or other cash equivalents.
Mail your check and completed application to the Transfer Agent at its regular or express mail address that can be found at the beginning of the section Choosing a Share Class. You may also use these addresses to request an exchange or redemption of Fund shares. When a written order to buy, sell or exchange shares is sent to the Transfer Agent, the share price used to fill the order is the next price calculated by the Fund after the Transfer Agent receives the order at its transaction processing center in Canton, Massachusetts, not the P.O. Box provided for regular mail delivery.
You will be sent a statement confirming your purchase and any subsequent transactions in your account. You will also be sent quarterly and annual statements detailing your transactions in the Fund and the other Funds you own under the same account number. Duplicate quarterly account statements for the current year and duplicate annual statements for the most recent prior calendar year will be sent to you free of charge. Copies of year-end statements for prior years are available for a fee. Please contact the Transfer Agent for more information.
Written Transactions
Once you have an account, you can communicate written buy, sell or exchange orders to the Transfer Agent at its address that can be found at the beginning of the section Choosing a Share Class. When a written order to buy, sell or exchange shares is sent to the Transfer Agent, the share price used to fill the order is the next price calculated by the Fund after the Transfer Agent receives the order at its transaction processing center in Canton, Massachusetts, not the P.O. Box provided for regular mail delivery.
Include in your letter: your name; the name of the Fund(s); your account number; the class of shares to be exchanged or sold; your SSN or other TIN; the dollar amount or number of shares you want to exchange or sell; specific instructions regarding delivery of redemption proceeds or exchange destination; signature(s) of registered account owner(s); and any special documents the Transfer Agent may require in order to process your order.
Corporate, trust or partnership accounts may need to send additional documents. Payment will be mailed to the address of record and made payable to the names listed on the account, unless your request specifies differently and is signed by all owners.
Telephone Transactions
For Class A, Class B, Class C, Class R, Class T, Class Y and Class Z shares, once you have an account, you may place orders to buy, sell or exchange shares by telephone. To place orders by telephone, call 800.422.3737. Have your account number and SSN or TIN available when calling.
You can sell Fund shares via the telephone, by electronic funds transfer or by check to the address of record, up to and including an aggregate of $100,000 of shares per day, per Fund account, if you qualify for telephone orders. Wire redemptions requested via the telephone are subject to a maximum of $3 million of shares per day, per Fund. You can buy up to and including $100,000 of shares per day, per Fund account through your bank account as an Automated Clearing House (ACH) transaction via the telephone if you qualify for telephone orders.
Telephone orders may not be as secure as written orders. The Fund will take reasonable steps to confirm that telephone instructions are genuine. For example, we require proof of your identification before we will act on instructions received by telephone and may record telephone conversations. However, the Fund and its agents will not be responsible for any losses, costs or expenses resulting from an unauthorized telephone instruction when reasonable steps have been taken to confirm that telephone instructions are genuine. Telephone orders may be difficult to complete during periods of significant economic or market change or business interruption.
Online Transactions
For Class A, Class B, Class C, Class R, Class T, Class Y and Class Z shares, once you have an account, you may contact the Transfer Agent at 800.345.6611 for more information on account trading restrictions and the special sign-up procedures required for online transactions. The Transfer Agent has procedures in place to authenticate electronic orders you deliver through the internet. You will be required to accept the terms of an online agreement and to establish and utilize a password in order to access online account services. You can sell up to and including an aggregate of $100,000 of shares per day, per Fund account through the internet if you qualify for internet orders.
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Wire Transactions
You may buy (or redeem) Class A, Class B (redemptions only), Class C, Class T, Class W (redemptions only), Class Y and Class Z shares of a Fund by wiring money from (or to) your bank account to (or from) your Fund account by calling the Transfer Agent at 800.422.3737. You must set up this feature prior to your request unless you are submitting your request in writing with a Medallion Signature Guarantee. The Transfer Agent charges a fee for shares sold by Fedwire. The Transfer Agent may waive the fee for certain accounts. In the case of a redemption, the receiving bank may charge an additional fee. The minimum amount that can be redeemed by wire is $500. The maximum amount that can be redeemed over the telephone is $3 million per day, per Fund account.
Electronic Funds Transfer
You may buy (or redeem) Class A, Class B (redemptions only), Class C, Class T, Class Y and Class Z shares of a Fund by electronically transferring money from (or to) your bank account to (or from) your Fund account up to and including an aggregate of $100,000 of shares per day, per Fund account by calling the Transfer Agent at 800.422.3737. An electronic funds transfer may take up to three business days to settle and be considered in “good form.” You must set up this feature by contacting the Transfer Agent prior to your request to obtain any necessary forms.
Important: Payments sent by an electronic fund transfer, a bank authorization, or check that are not guaranteed may take up to 10 or more calendar days to clear. If you request a redemption before the purchase funds clear, this may cause your redemption request to fail to process if the requested amount includes unguaranteed funds. If you purchased your shares by check or from your bank account as an ACH transaction, the Fund may hold the redemption proceeds when you sell those shares for a period of time after the trade date of the purchase.
Buying Shares
Eligible Investors
Class A and Class C Shares
Class A and Class C shares are available to the general public for investment. Once you have opened an account, you can buy Class A and Class C shares in a lump sum, through our Systematic Investment Plan, by dividend diversification, by wire or by electronic funds transfer. As described in this prospectus, Class A shares but not Class C shares are generally subject to a front-end sales charge, which reduces the dollar amount invested in a Fund. However, Class C shares are generally subject to higher fees than Class A shares, which will reduce any returns on Class C shares relative to Class A shares. You may be eligible to purchase Class A shares without a front-end sales charge if the value of your Columbia Fund shares held in eligible accounts reaches $1,000,000 (in the case of a purchase of Class A shares of a Taxable Fund) or $500,000 (in the case of a purchase of Class A shares of a Tax-Exempt Fund). If you are eligible to invest in Class A shares without a front-end sales charge, you should discuss your options with your selling agent. For more information, see Choosing a Share Class – Reductions/Waivers of Sales Charges. A purchase order for Class C shares of a Taxable or Tax-Exempt Fund is limited to $999,999 and $499,999, respectively. Your selling agent may impose additional limits on investments in Class C shares.
For Columbia Money Market Fund, new investments must be made in Class A, Class I, Class W or Class Z shares, subject to eligibility. Class C and Class R shares of Columbia Money Market Fund are available as a new investment only to investors in the Distributor’s proprietary 401(k) products, provided that such investor is eligible to invest in the class and transacts directly with the Fund or the Transfer Agent through a third party administrator or third party recordkeeper. Columbia Money Market Fund offers other classes of shares only to facilitate exchanges with other Funds offering these classes of shares.
Class B Shares (Closed)
The Funds no longer accept investments from new or existing investors in Class B shares, except for certain limited transactions involving existing investors in Class B shares as described in more detail below.
Additional Class B shares will be issued only to existing investors in Class B shares and only through the following two types of transactions (Qualifying Transactions):
• | Dividend and/or capital gain distributions may continue to be reinvested in Class B shares of a Fund. |
• | Shareholders invested in Class B shares of a Fund may exchange those shares for Class B shares of other Funds offering such shares. Certain exceptions apply, including that not all Funds may permit exchanges. |
Any initial purchase orders for the Fund’s Class B shares will be rejected (other than through a Qualifying Transaction that is an exchange transaction).
Unless contrary instructions are received in advance by the Fund, any purchase orders (except those submitted by a selling agent through the National Securities Clearing Corporation (NSCC) as described in more detail below) that are orders for additional Class B shares of the Fund received from existing investors in Class B shares, including orders made through an active systematic investment
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plan, will automatically be invested in Class A shares of the Fund, without regard to the normal minimum initial investment requirement for Class A shares, but subject to the front-end sales charge that generally applies to Class A shares. See Choosing a Share Class — Sales Charges and Commissions — Class A Shares — Front-End Sales Charge for additional information. Your selling agent may have different policies not described here, including a policy to reject purchase orders for a Fund’s Class B shares or to automatically invest the purchase amount in Columbia Money Market Fund. Please consult your selling agent to understand its policy.
Additional purchase orders for a Fund’s Class B shares by an existing Class B shareholder, submitted by such shareholder’s selling agent through the NSCC, will be rejected due to operational limitations of the NSCC. Investors should consult their selling agent if they wish to invest in the Fund by purchasing a share class of the Fund other than Class B shares.
Dividend and/or capital gain distributions from Class B shares of a Fund will not be automatically invested in Class B shares of another Fund. Unless contrary instructions are received in advance of the date of declaration, such dividend and/or capital gain distributions from Class B shares of a Fund will be reinvested in Class B shares of the same Fund that is making the distribution.
Class I Shares
Class I shares are available only to the Funds (i.e., fund-of-funds investments).
Class K Shares (Closed)
Class K shares are closed to new investors and new accounts, subject to certain limited exceptions described below.
Shareholders who opened and funded a Class K account with the Fund as of the close of business on December 31, 2010 (including accounts once funded that subsequently reached a zero balance) may continue to make additional purchases of Class K shares. Plans may continue to make additional purchases of Fund shares and add new participants, and new plans sponsored by the same or an affiliated sponsor may invest in the Fund (and add new participants) if an initial plan so sponsored invested in the Fund as of December 31, 2010 (or had approved the Fund as an investment option as of December 31, 2010 and funded its initial account with the Fund prior to March 31, 2011) and holds Fund shares at the plan level.
An order to purchase Class K shares received by the Fund or the Transfer Agent after the close of business on December 31, 2010 (other than as described above) from a new investor or a new account that is not eligible to purchase shares will be refused by the Fund and the Transfer Agent and any money that the Fund or the Transfer Agent received with the order will be returned to the investor or the selling agent, as appropriate, without interest.
Class K shares are designed for qualified employee benefit plans, trust companies or similar institutions, charitable organizations that meet the definition in Section 501(c)(3) of the Code, non-qualified deferred compensation plans whose participants are included in a qualified employee benefit plan described above, state sponsored college savings plans established under Section 529 of the Code, and health savings accounts created pursuant to public law 108-173. Class K shares may be purchased, sold or exchanged only through the Distributor or an authorized selling agent.
Class R Shares
Class R shares are available only to eligible health savings accounts sponsored by third party platforms, including those sponsored by Ameriprise Financial affiliates, eligible retirement plans and, in the sole discretion of the Distributor, other types of retirement accounts held through platforms maintained by selling agents approved by the Distributor. Eligible retirement plans include any retirement plan other than individual 403(b) plans. Class R shares are generally not available for investment through retail nonretirement accounts, traditional and Roth IRAs, Coverdell Education Savings Accounts, SEPs, SAR-SEPs, Simple IRAs or 529 tuition programs. Contact the Transfer Agent or your retirement plan or health savings account administrator for more information about investing in Class R shares.
Class R4 Shares
Class R4 shares are available only to (i) omnibus retirement plans, (ii) trust companies or similar institutions, (iii) broker-dealers, banks, trust companies and similar institutions that clear Fund share transactions for their client or customer investment advisory or similar accounts through designated selling agents and their mutual fund trading platforms that have been granted specific written authorization from the Transfer Agent with respect to Class R4 eligibility apart from selling, servicing or similar agreements, (iv) 501(c)(3) charitable organizations, (v) 529 plans and (vi) health savings accounts.
Class R5 Shares
Class R5 shares are available only to (i) certain registered investment advisers that clear Fund share transactions for their client or customer accounts through designated selling agents and their mutual fund trading platforms that have been granted specific written authorization from the Transfer Agent with respect to Class R5 eligibility apart from selling, servicing or similar agreements and (ii) omnibus retirement plans. Prior to November 8, 2012, Class R5 shares were closed to new investors and new accounts, subject to certain exceptions. Existing shareholders who do not satisfy the new eligibility requirements for investment in Class R5 may not establish new Class R5 accounts but may continue to make additional purchases of Class R5 shares in accounts opened and funded
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prior to November 8, 2012; provided, however, that investment advisory programs and similar programs that opened a Class R5 account as of May 1, 2010, and continuously hold Class R5 shares in such account after such date, may generally not only continue to make additional purchases of Class R5 shares but also open new Class R5 accounts for such pre-existing programs and add new shareholders in the program.
Class T Shares
Class T shares are available only to investors who received (and who have continuously held) Class T shares in connection with the merger of certain Galaxy funds into certain Funds that were then named Liberty funds.
Class W Shares
Class W shares are available only to investors purchasing through authorized investment programs managed by investment professionals, including discretionary managed account programs. Class W shares may be purchased, sold or exchanged only through the Distributor or an authorized selling agent. Shares originally purchased in a discretionary managed account may continue to be held in Class W outside of a discretionary managed account, but no additional Class W purchases may be made and no exchanges to Class W shares of another Fund may be made outside of a discretionary managed account.
Class Y Shares
Class Y shares, except as noted below, are available only to retirement plans that maintain plan-level or omnibus accounts with the Fund (through the Transfer Agent).
Class Z Shares
Class Z shares are available only to the categories of eligible investors described below under Class Z Shares Minimum Initial Investments. Selling agents that clear Fund share transactions through designated selling agents and their mutual fund trading platforms that were given specific written notice from the Transfer Agent of the termination, effective March 29, 2013, of their eligibility for new purchases of Class Z shares and omnibus retirement plans are not permitted to establish new Class Z accounts, subject to certain exceptions described below.
Omnibus retirement plans that opened and, subject to certain exceptions, funded a Class Z account with the Fund as of the close of business on March 28, 2013, and have continuously held Class Z shares in such account after such date, may generally continue to make additional purchases of Class Z shares, open new Class Z accounts and add new participants. In addition, an omnibus retirement plan affiliated with a grandfathered plan may, in the sole discretion of the Distributor, open new Class Z accounts in a Fund if the affiliated plan opened a Class Z account on or before March 28, 2013. If an omnibus retirement plan invested in Class Z shares changes recordkeepers after March 28, 2013, any new accounts established for that plan may not be established in Class Z shares, but such a plan may establish new accounts in a different share class for which the plan is eligible. The Distributor may, in its sole discretion, delay the funding requirement described above for omnibus retirement plans to allow an omnibus retirement plan that opened a Class Z account (the initial Class Z account) with the Fund as of the close of business on March 28, 2013 to make additional purchases of Class Z shares, open new Class Z accounts and add new participants so long as the initial Class Z account was funded by July 2, 2013.
Accounts of selling agents (other than omnibus retirement plans, which are discussed above) that clear Fund share transactions for their client or customer accounts through designated selling agents and their mutual fund trading platforms that received specific written notice from the Transfer Agent of the termination, effective March 29, 2013, of their eligibility for new purchases of Class Z shares will not be permitted to establish new Class Z accounts or make additional purchases of Class Z shares (other than through reinvestment of distributions). Such accounts may, at their holder’s option, exchange Class Z shares of a Fund, without the payment of a sales charge, for Class A shares of the same Fund.
Additional Eligible Investors
In addition, the Distributor, in its sole discretion, may accept investments in any share class from investors other than those listed in this prospectus.
Minimum Initial Investments
The table below shows the Fund’s minimum initial investment requirements, which may vary by Fund, class and type of account.
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Minimum Initial Investments
Minimum Initial Investment(a) | Minimum Initial Investment for Accounts with Systematic Investment Plans | |||||||
For all Funds, classes and account types except those listed below | $ | 2,000 | $ | 100 | (b) | |||
Individual Retirement Accounts for all Funds and classes except those listed below | $ | 1,000 | $ | 100 | (c) | |||
Columbia Absolute Return Currency and Income Fund | $ | 10,000 | $ | 10,000 | ||||
Columbia Floating Rate Fund and Columbia Inflation Protected Securities Fund | $ | 5,000 | $ | 5,000 | ||||
Class I, Class K, Class R, Class R4 and Class Y | None | N/A | ||||||
Class R5 | variable | (d) | N/A | |||||
Class W | $ | 500 | N/A | |||||
Class Z | variable | (e) | $ | 100 | (e) |
(a) | If your Class A, Class B, Class C, Class T or Class Z shares account balance falls below the minimum initial investment amount for any reason, including a market decline, you may be asked to increase it to the minimum initial investment amount or establish a monthly Systematic Investment Plan. If you do not do so, your account will be subject to a $20 annual low balance fee and/or shares may be automatically redeemed and the proceeds mailed to you if the account falls below the minimum account balance. See Buying, Selling and Exchanging Shares — Transaction Rules and Policies above. |
(b) | Columbia Money Market Fund —$2,000 |
(c) | Columbia Money Market Fund —$1,000 |
(d) | There is no minimum initial investment in Class R5 shares for omnibus retirement plans. A minimum initial investment of $100,000 applies to aggregate purchases of Class R5 shares of a Fund for combined underlying accounts of any registered investment adviser that clears Fund share transactions for their client or customer accounts through designated selling agents and their mutual fund trading platforms that have been granted specific written authorization from the Transfer Agent with respect to Class R5 eligibility apart from selling, servicing or similar agreements. |
(e) | The minimum initial investment amount for Class Z shares is $0,$1,000 or $2,000 depending upon the category of eligible investor. See — Class Z Shares Minimum Initial Investments below. The minimum initial investment amount for systematic investment plan accounts is the same as the amount set forth in the first two rows of the table, as applicable. |
The minimum initial investment requirements may be waived for accounts that are managed by an investment professional, for accounts held in approved discretionary or non-discretionary wrap programs, or for accounts that are a part of an employer-sponsored retirement plan. The Distributor, in its sole discretion, may also waive minimum initial investment requirements for other account types.
Minimum investment and related requirements may be modified at any time, with or without prior notice. If your account is closed and then re-opened with a systematic investment plan, your account must meet the then-current applicable minimum initial investment.
Class Z Shares Minimum Initial Investments
There is no minimum initial investment in Class Z shares for the following categories of eligible investors:
• | Any person investing all or part of the proceeds of a distribution, rollover or transfer of assets into a Columbia Management Individual Retirement Account, from any deferred compensation plan which was a shareholder of any of the Funds of Columbia Acorn Trust on September 29, 2000, in which the investor was a participant and through which the investor invested in one or more of the Funds of Columbia Acorn Trust immediately prior to the distribution, transfer or rollover. |
• | Any health savings account sponsored by a third party platform. |
• | Any investor participating in a wrap program sponsored by a selling agent or other entity that is paid an asset-based fee by the investor and that is not compensated by the Fund for those services, other than payments for shareholder servicing or sub-accounting performed in place of the Transfer Agent. |
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The minimum initial investment in Class Z shares for the following categories of eligible investors is $1,000:
• | Any individual retirement plan for which a selling agent or other entity provides services and is not compensated by the Fund for those services, other than in the form of payments for shareholder servicing or sub-accounting performed in place of the Transfer Agent. |
• | Any employee of Columbia Management Investment Advisers, LLC, the Distributor or the Transfer Agent and immediate family members of any of the foregoing who share the same address and any persons employed as of April 30, 2010 by Columbia Management Advisors, LLC, Columbia Management Distributors, Inc., or Columbia Management Services, Inc., the adviser, distributor and transfer agent of series of CFST and CFST I prior to May 1, 2010 (the Previous Service Providers) and immediate family members of any of the foregoing who share the same address are eligible to make new and subsequent purchases in Class Z shares through an individual retirement account. If you maintain your account with a selling agent, you must contact that selling agent each time you seek to purchase shares to notify them that you qualify for Class Z shares. |
The minimum initial investment in Class Z shares for the following categories of eligible investors is $2,000:
• | Any shareholder (as well as any family member of a shareholder or person listed on an account registration for any account of the shareholder) of another fund distributed by the Distributor (i) who holds Class Z shares; (ii) who held Primary A shares prior to the share class redesignation of Primary A shares as Class Z shares that occurred on August 22, 2005; (iii) who holds Class A shares that were obtained by an exchange of Class Z shares; or (iv) who bought shares of certain mutual funds that were not subject to sales charges and that merged with a series of CFST or CFST I distributed by the Distributor. |
• | Any investor participating in an account offered by a selling agent or other entity that provides services to such an account, is paid an asset-based fee by the investor and is not compensated by the Fund for those services, other than payments for shareholder servicing or sub-accounting performed in place of the Transfer Agent (each investor buying shares through a financial intermediary must independently satisfy the minimum investment requirement noted above). |
• | Any institutional investor who is a corporation, partnership, trust, foundation, endowment, institution, government entity, or similar organization, which meets the respective qualifications for an accredited investor, as defined under the Securities Act of 1933. |
• | Certain financial institutions and intermediaries, such as insurance companies, trust companies, banks, endowments, investment companies or foundations, buying shares for their own account, including Ameriprise Financial and its affiliates and/or subsidiaries. |
• | Any employee of Columbia Management Investment Advisers, LLC, the Distributor or the Transfer Agent and immediate family members of any of the foregoing who share the same address and any persons employed as of April 30, 2010 by the Previous Service Providers and any of their immediate family members who share the same address are eligible to make new and subsequent purchases in Class Z shares through a non-retirement account. If you maintain your account with a selling agent, you must contact that selling agent each time you seek to purchase shares to notify them that you qualify for Class Z shares. |
• | Certain other investors as set forth in more detail in the SAI. |
Systematic Investment Plan
The Systematic Investment Plan allows you to schedule regular purchases via automatic transfers from your bank account to the Fund on a monthly, quarterly or semiannual basis. Contact the Transfer Agent or your selling agent to set up the plan. Systematic Investment Plans may not be available for all share classes.
Dividend Diversification
Generally, you may automatically invest distributions made by another Fund into the same class of shares (and in some cases certain other classes of shares) of a Fund at no additional sales charge. A sales charge may apply when you invest distributions made with respect to shares that were not subject to a sales charge at the time of your initial purchase. Call the Transfer Agent at 800.345.6611 for details. The ability to invest distributions from one Fund to another Fund may not be available to accounts held at all selling agents.
Other Purchase Rules You Should Know
• | Once the Transfer Agent or your selling agent receives your buy order in “good form,” your purchase will be made at the next calculated public offering price per share, which is the net asset value per share plus any sales charge that applies. |
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• | You generally buy Class A and Class T shares at the public offering price per share because purchases of these share classes are generally subject to a front-end sales charge. |
• | You buy Class B, Class C, Class I, Class K, Class R, Class R4, Class R5, Class W, Class Y and Class Z shares at net asset value per share because no front-end sales charge applies to purchases of these share classes. |
• | The Distributor and the Transfer Agent reserve the right to cancel your order if the Fund does not receive payment within three business days of receiving your buy order. The Fund will return any payment received for orders that have been cancelled, but no interest will be paid on that money. |
• | Selling agents are responsible for sending your buy orders to the Transfer Agent and ensuring that we receive your money on time. |
• | Shares purchased are recorded on the books of the Fund. The Fund does not issue certificates. |
Selling Shares
When you sell your shares, the Fund is effectively buying them back from you. This is called a redemption. The payment will be sent within seven days after your request is received in “good form.” When you sell shares, the amount you receive may be more or less than the amount you invested.
Your sale price will be the next NAV calculated after your request is received in “good form,” minus any applicable CDSC.
Systematic Withdrawal Plan
The Systematic Withdrawal Plan allows you to schedule regular redemptions from your account any business day on a monthly, quarterly or semiannual basis. Currently, Systematic Withdrawal Plans are generally available for Class A, Class B, Class C, Class R4, Class R5, Class T, Class W, Class Y and Class Z share accounts. Contact the Transfer Agent or your financial advisor to set up the plan. To set up the plan, your account balance must meet the class minimum initial investment amount. A Systematic Withdrawal Plan cannot be set up on an account that already has a Systematic Investment Plan established. If you set up the plan after you’ve opened your account, we may require your signature to be Medallion Signature Guaranteed.
You can choose to receive your withdrawals via check or direct deposit into your bank account. The Fund will deduct any applicable CDSC from the withdrawals before sending the balance to you. You can cancel the plan by giving the Fund 30 days’ notice in writing or by calling the Transfer Agent at 800.422.3737. It’s important to remember that if you withdraw more than your investment in the Fund is earning, you’ll eventually withdraw your entire investment.
Check Redemption Service (for Columbia Money Market Fund)
Class A and Class Z shares of Columbia Money Market Fund (which is not offered in this prospectus) offer check writing privileges. If you have $2,000 in Columbia Money Market Fund, you may request checks which may be drawn against your account. The amount of any check drawn against your Columbia Money Market Fund must be at least $100. You can elect this service on your initial application or thereafter. Call 800.345.6611 for the appropriate forms to establish this service. If you own Class A shares that were originally purchased in another Fund at NAV because of the size of the purchase, and then exchanged into Columbia Money Market Fund, check redemptions may be subject to a CDSC. A $15 charge will be assessed for any stop payment order requested by you or any overdraft in connection with checks written against your Columbia Money Market Fund account. Note that a Medallion Signature Guarantee may be required if this service is established after the account is opened.
In-Kind Redemptions
The Fund reserves the right to honor redemption orders with in-kind distributions of portfolio securities instead of cash. In the event the Fund distributes portfolio securities in-kind, you may incur brokerage and transaction costs associated with converting the portfolio securities you receive into cash. Also, the portfolio securities you receive may increase or decrease in value before you convert them into cash. For U.S. federal income tax purposes redemptions paid in securities are generally treated the same as redemptions paid in cash.
Other Redemption Rules You Should Know
• | Once the Transfer Agent or your selling agent receives your redemption order in “good form,” your shares will be sold at the next calculated NAV per share. Any applicable CDSC will be deducted from the amount you’re selling and the balance will be remitted to you. |
• | If you sell your shares that are held directly with the Funds (through the Transfer Agent), we will normally send the redemption proceeds by mail or electronically transfer them to your bank account within three business days after the Transfer Agent or your selling agent receives your order in “good form.” |
• | If you sell your shares through a selling agent, the Funds will normally send the redemption proceeds by Fedwire within three business days after the Transfer Agent or your selling agent receives your order in “good form.” |
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• | If you paid for your shares by check or from your bank account as an ACH transaction, the Funds will hold the redemption proceeds when you sell those shares for ten calendar days after the trade date of the purchase. |
• | No interest will be paid on uncashed redemption checks. |
• | The Funds can delay payment of the redemption proceeds for up to seven days and may suspend redemptions and/or further postpone payment of redemption proceeds when the NYSE is closed or trading thereon is restricted or during emergency or other circumstances, including as determined by the SEC. |
• | Other restrictions may apply to retirement accounts. For information about these restrictions, contact your retirement plan administrator. |
• | For broker-dealer and wrap fee accounts: The Fund reserves the right to redeem your shares if your account falls below the Fund’s minimum initial investment requirement. The Fund will notify your broker-dealer prior to redeeming shares, and will provide details on how to avoid such redemption. |
• | Also keep in mind the Funds’ Small Account Policy, which is described above in Buying, Selling and Exchanging Shares — Transaction Rules and Policies. |
Exchanging Shares
You can generally sell shares of your Fund to buy shares of another Fund, in what is called an exchange. You should read the prospectus of, and make sure you understand the investment objective, principal investment strategies, risks, fees and expenses of, the Fund into which you are exchanging.
You may be subject to a sales charge if you exchange from Columbia Money Market Fund or any other Fund that does not charge a front-end sales charge into a non-money market Fund. If you hold your Fund shares through certain selling agents, including Ameriprise Financial Services, Inc., you may have limited exchangeability among the Funds. Please contact your selling agent for more information.
You can generally make exchanges between like share classes of any Fund and, subject to eligibility requirements, other share classes of any Fund. Some exceptions apply. Although the Funds allow certain exchanges from one share class to another share class with higher expenses, you should consider the expenses of each class before making such an exchange.
Systematic Exchanges
You may buy Class A, Class C, Class T, Class W, Class Y and/or Class Z shares of a Fund by exchanging each month from another Fund for shares of the same class of the Fund at no additional cost, subject to the following exchange amount minimums:$50 each month for individual retirement accounts (i.e. tax qualified accounts); and $100 each month for non-retirement accounts. Contact the Transfer Agent or your selling agent to set up the plan. If you set up your plan to exchange more than $100,000 each month, you must obtain a Medallion Signature Guarantee.
Exchanges will continue as long as your balance is sufficient to complete the systematic monthly transfers, subject to the Funds’ Small Account Policy described above in Buying, Selling and Exchanging Shares — Transaction Rules and Policies. You may terminate the program or change the amount you would like to exchange (subject to the $50 and $100 minimum requirements noted immediately above) by calling the Transfer Agent at 800.345.6611. A sales charge may apply when you exchange shares of a Fund that were not assessed a sales charge at the time of your initial purchase.
Other Exchange Rules You Should Know
• | Exchanges are made at the NAV next calculated after your exchange order is received in “good form.” |
• | Once the Fund receives your exchange request, you cannot cancel it after the market closes. |
• | The rules for buying shares of a Fund generally apply to exchanges into that Fund, including, if your exchange creates a new Fund account, it must satisfy the minimum investment amount, unless a waiver applies. |
• | Shares of the purchased Fund may not be used on the same day for another exchange or sale. |
• | If you exchange shares from Class A shares of Columbia Money Market Fund to a non-money market Fund, any further exchanges must be between shares of the same class. For example, if you exchange from Class A shares of Columbia Money Market Fund into Class C shares of a non-money market Fund, you may not exchange from Class C shares of that non-money market Fund back to Class A shares of Columbia Money Market Fund. |
• | A sales charge may apply when you exchange shares of a Fund that were not assessed a sales charge at the time of your initial purchase. For example, if your initial investment was in Columbia Money Market Fund and you exchange into a non-money market Fund, your transaction is subject to a front-end sales charge if you exchange into Class A shares and to a CDSC if you exchange into Class C shares of the Funds. |
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• | If your initial investment was in Class A shares of a non-money market Fund and you exchange shares into Columbia Money Market Fund, you may exchange that amount to another Fund, including dividends earned on that amount, without paying a sales charge. |
• | If your shares are subject to a CDSC, you will not be charged a CDSC upon the exchange of those shares. Any CDSC will be deducted when you sell the shares you received from the exchange. The CDSC imposed at that time will be based on the period that begins when you bought shares of the original Fund and ends when you sell the shares of the Fund you received from the exchange. The applicable CDSC will be the CDSC of the original Fund. |
• | You may make exchanges only into a Fund that is legally offered and sold in your state of residence. Contact the Transfer Agent or your selling agent for more information. |
• | You generally may make an exchange only into a Fund that is accepting investments. |
• | The Fund may change or cancel your right to make an exchange by giving the amount of notice required by regulatory authorities (generally 60 days for a material change or cancellation). |
• | Unless your account is part of a tax-advantaged arrangement, an exchange for shares of another Fund is a taxable event, and you may recognize a gain or loss for tax purposes. |
• | Changing your investment to a different Fund will be treated as a sale and purchase, and you will be subject to applicable taxes on the sale and sales charges on the purchase of the new Fund. |
• | Class Z shares of a Fund may be exchanged for Class A or Class Z shares of another Fund. In certain circumstances, the front-end sales charge applicable to Class A shares may be waived on exchanges of Class Z shares for Class A shares. See Buying, Selling and Exchanging Shares — Buying Shares — Eligible Investors — Class Z Shares for details. |
• | You may generally exchange Class T shares of a Fund for Class A shares of another Fund if the other Fund does not offer Class T shares. Class T shares exchanged into Class A shares cannot be exchanged back into Class T shares. |
• | Class W shares originally purchased, but no longer held, in a discretionary managed account, may not be exchanged for Class W shares of another Fund. |
• | Former CFIT Shareholders may not exchange Class Y shares of a Fund into Class Y shares of another Fund. |
Same-Fund Exchange Privilege
Certain shareholders of a Fund may be or become eligible to invest in other classes of shares of the same Fund. Upon a determination of such eligibility, such shareholders may be eligible to exchange their shares for shares of the other share class, if offered. Such exchanges include exchanges of shares of one class for shares of another share class with higher expenses. Before making such an exchange, you should consider the expenses of each class. Investors should contact their selling agents to learn more about the details of the exchange privilege.
Note the following rules relating to same-Fund exchanges:
• | No sales charges or other charges will apply to any such exchange, except that when Class B shares are exchanged, any CDSC applicable to Class B shares will be applied. |
• | Ordinarily, shareholders will not recognize a gain or loss for U.S. federal income tax purposes upon such an exchange. You should consult your tax advisor about your particular exchanges. |
Distributions to Shareholders
A mutual fund can make money two ways:
• | It can earn income on its investments. Examples of fund income are interest paid on money market instruments and bonds, and dividends paid on common stocks. |
• | A mutual fund can also have capital gains if the value of its investments increases. While a fund continues to hold an investment, any gain is generally unrealized. If the fund sells an investment, it generally will realize a capital gain if it sells that investment for a higher price than its adjusted cost basis, and will generally realize a capital loss if it sells that investment for a lower price than its adjusted cost basis. Capital gains and losses are either short-term or long-term, depending on whether the fund holds the securities for one year or less (short-term) or more than one year (long-term). |
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FUNDamentalsTM |
Distributions
Mutual funds make payments of fund earnings to shareholders, distributing them among all shareholders of the fund. As a shareholder, you are entitled to your portion of a fund’s distributed income, including capital gains. Reinvesting your distributions buys you more shares of a fund — which lets you take advantage of the potential for compound growth. Putting the money you earn back into your investment means it, in turn, may earn even more money. Over time, the power of compounding has the potential to significantly increase the value of your investment. There is no assurance, however, that you’ll earn more money if you reinvest your distributions rather than receive them in cash.
The Fund intends to pay out, in the form of distributions to shareholders, a sufficient amount of its income and gains so that the Fund will qualify for treatment as a regulated investment company and generally will not have to pay any federal excise tax. The Fund generally intends to distribute any net realized capital gain (whether long-term or short-term gain) at least once a year. Normally, Columbia Contrarian Core Fund, Columbia Large Cap Growth Fund and Columbia Select Smaller-Cap Value Fund will declare and pay distributions of net investment income according to the following schedule:
Declaration and Distribution Schedule | ||||
Declarations | Annually | |||
Distributions | Annually |
Normally, Columbia Overseas Value Fund and Columbia Select International Equity Fund will declare and pay distributions of net investment income according to the following schedule:
Declaration and Distribution Schedule | ||||
Declarations | Semiannually | |||
Distributions | Semiannually |
The Fund may declare or pay distributions of net investment income more frequently.
Different share classes of the Fund usually pay different net investment income distribution amounts, because each class has different expenses. Each time a distribution is made, the net asset value per share of the share class is reduced by the amount of the distribution.
The Fund generally pays cash distributions within five business days after the distribution was declared (or, if the Fund declares distributions daily, within five business days after the end of the month in which the distribution was declared). If you sell all of your shares after the record date, but before the payment date, for a distribution, you’ll normally receive that distribution in cash within five business days after the sale was made.
The Fund will automatically reinvest distributions in additional shares of the same share class of the Fund unless you inform us you want to receive your distributions in cash (the selling agent through which you purchased shares may have different policies). You can do this by contacting the Funds at the addresses and telephone numbers listed at the beginning of the section entitled Choosing a Share Class. No sales charges apply to the purchase or sale of such shares.
For accounts held directly with the Fund (through the Transfer Agent), distributions of $10 or less will automatically be reinvested in additional Fund shares only. If you elect to receive distributions by check and the check is returned as undeliverable, all subsequent distributions will be reinvested in additional shares of the Fund.
Unless you are a tax-exempt investor or holding Fund shares through a tax-advantaged account (such as a 401(k) plan or IRA), you should consider avoiding buying Fund shares shortly before the Fund makes a distribution (other than distributions of net investment income that are declared daily) of net investment income or net realized capital gain, because doing so can cost you money in taxes to the extent the distribution consists of taxable income or gains. This is because you will, in effect, receive part of your purchase price back in the distribution. This is known as “buying a dividend.” To avoid “buying a dividend,” before you invest check the Fund’s distribution schedule, which is available at the Funds’ website and/or by calling the Funds’ telephone number listed at the beginning of the section entitled Choosing a Share Class.
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Taxes
You should be aware of the following considerations applicable to all Funds (unless otherwise noted):
• | The Fund intends to qualify and to be eligible for treatment each year as a regulated investment company. A regulated investment company generally is not subject to tax at the fund level on income and gains from investments that are distributed to shareholders. However, the Fund’s failure to qualify for treatment as a regulated investment company would result in Fund-level taxation, and consequently, a reduction in income available for distribution to you and in the net asset value of your shares. Even if the Fund qualifies for treatment as a regulated investment company, the Fund may be subject to federal excise tax on certain undistributed income or gains. |
• | Otherwise taxable distributions generally are taxable to you when paid, whether they are paid in cash or automatically reinvested in additional Fund shares. Dividends paid in January are deemed paid on December 31 of the prior year if the dividend was declared and payable to shareholders of record in October, November, or December of such prior year. |
• | Distributions of the Fund’s ordinary income and net short-term capital gain, if any, generally are taxable to you as ordinary income. Distributions of the Fund’s net long-term capital gain, if any, generally are taxable to you as long-term capital gain. Whether capital gains are long-term or short-term is determined by how long the Fund has owned the investments that generated them, rather than how long you have owned your shares. |
• | From time to time, a distribution from the Fund could constitute a return of capital, which is not taxable to you so long as the amount of the distribution does not exceed your tax basis in your Fund shares. A return of capital reduces your tax basis in your Fund shares, with any amounts exceeding such basis generally taxable as capital gain. |
• | If you are an individual and you meet certain holding period and other requirements for your Fund shares, a portion of your distributions may be treated as “qualified dividend income” taxable at the lower net long-term capital gain rates instead of the higher ordinary income rates. Qualified dividend income is income attributable to the Fund’s dividends received from certain U.S. and foreign corporations, as long as the Fund meets certain holding period and other requirements for the stock producing such dividends. |
• | Certain high-income individuals (as well as estates and trusts) are subject to a 3.8% tax on net investment income. For individuals, the 3.8% tax applies to the lesser of (1) the amount (if any) by which the taxpayer’s modified adjusted gross income exceeds certain threshold amounts or (2) the taxpayer’s “net investment income.” |
Net investment income generally includes for this purpose dividends, including any capital gain dividends, paid by the Fund, and net gains recognized on the sale, redemption or exchange of shares of the Fund.
• | Certain derivative instruments when held in the Fund’s portfolio subject the Fund to special tax rules, the effect of which may be to, among other things, accelerate income to the Fund, defer Fund losses, cause adjustments in the holding periods of Fund portfolio securities, or convert capital gains into ordinary income, short-term capital losses into long-term capital losses or long-term capital gains into short-term capital gains. These rules could therefore affect the amount, timing and/or character of distributions to shareholders. |
• | Certain Funds may purchase or write options, as described further in the SAI. Generally, a Fund realizes a capital gain or loss on an option when the option expires, or when it is exercised, sold or otherwise terminated. However, if an option is a “section 1256 contract,” which includes most traded options on a broad-based index, and the Fund holds such option at the end of its taxable year, the Fund is deemed to sell such option at fair market value at such time and recognize any gain or loss thereon, which is generally deemed to be 60% long-term and 40% short-term gain or loss, as described further in the SAI. |
• | Income and proceeds received by the Fund from sources within foreign countries may be subject to foreign taxes. If at the end of the taxable year more than 50% of the value of the Fund’s assets consists of securities of foreign corporations, and the Fund makes a special election, you will generally be required to include in your income for U.S. federal income tax purposes your share of the qualifying foreign income taxes paid by the Fund in respect of its foreign portfolio securities. You may be able to claim a foreign tax credit or deduction in respect of this amount, subject to certain limitations. There is no assurance that the Fund will make this election for a taxable year, even if it is eligible to do so. |
• | A sale, redemption or exchange of Fund shares is a taxable event. This includes redemptions where you are paid in securities. Your sales, redemptions and exchanges of Fund shares (including those paid in securities) usually will result in a taxable capital gain or loss to you, equal to the difference between the amount you receive for your shares (or are deemed to have received in the case of exchanges) and your adjusted tax basis in the shares, which is generally the amount you paid (or are deemed to have paid in the case of exchanges) for them. Any such capital gain or loss generally will be long-term capital gain or loss if you have held your Fund shares for more than one year at the time of sale or exchange. In certain circumstances, capital losses may be converted from short-term to long-term; in other circumstances, capital losses may be disallowed under the “wash sale” rules. |
• | The Fund generally is required to report to shareholders and the Internal Revenue Service (the IRS) upon the sale, exchange or redemption of Fund shares cost basis information with respect to those shares. The Fund uses average cost basis as its default method of calculating cost basis. Please see columbiathreadneedle.com/us or contact the Fund at 800.345.6611 for more information regarding average cost basis reporting, other available cost basis methods and how to select or change a particular method or to choose specific shares to sell, redeem or exchange. If you hold Fund shares through a selling agent, you should contact your selling agent to learn about its cost basis reporting default method and the reporting elections available to your account. |
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• | The Fund is required by federal law to withhold tax on any taxable or tax-exempt distributions and redemption proceeds paid to you (including amounts paid to you in securities and amounts deemed to be paid to you upon an exchange of shares) if: you have not provided a correct TIN or have not certified to the Fund that withholding does not apply, the IRS has notified us that the TIN listed on your account is incorrect according to its records, or the IRS informs the Fund that you are otherwise subject to backup withholding. |
FUNDamentalsTM |
Taxes
The information provided above is only a summary of how U.S. federal income taxes may affect your investment in the Fund. It is not intended as a substitute for careful tax planning. Your investment in the Fund may have other tax implications. It does not apply to certain types of investors who may be subject to special rules, including foreign or tax-exempt investors or those holding Fund shares through a tax-advantaged account, such as a 401(k) plan or IRA. Please see the SAI for more detailed tax information. You should consult with your own tax advisor about the particular tax consequences to you of an investment in the Fund, including the effect of any foreign, state and local taxes, and the effect of possible changes in applicable tax laws.
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Comparison of Organizational Documents
This chart highlights material differences between the terms of the Declarations of Trust and By-Laws of the Buying Funds and Selling Funds.
Group A: | Selling Funds: Columbia Large Cap Growth Fund II, Columbia Large Cap Growth Fund III, Columbia Large Cap Growth Fund V, Columbia International Value Fund, Columbia International Opportunities Fund. Buying Funds: Columbia Overseas Value Fund, Columbia Select International Equity Fund. | |
Group B: | Selling Fund: Columbia Value and Restructuring Fund. Buying Funds: Columbia Contrarian Core Fund, Columbia Large Cap Growth Fund. | |
Group C: | Selling Funds: Columbia Large Cap Growth Fund IV, Columbia Multi-Advisor Small Cap Value Fund. Buying Fund: Columbia Select Smaller-Cap Value Fund. |
Policy | Group A | Group B | Group C | |||
Shareholder Liability | Shareholders of the trust are protected from liability under Delaware statutory law, which provides that shareholders of a Delaware statutory trust have the same limitation of personal liability as is extended to shareholders of a private corporation for profit incorporated in the state of Delaware.
In addition, any shareholder or former shareholder exposed to liability by reason of a claim or demand relating solely to his or her being or having been a shareholder of the trust, and not because of his acts or omissions, the shareholder or former shareholder (or his or her heirs, executors, administrators, or other legal representatives or in the case of a corporation or other entity, its corporate or other general successor) will be entitled to be held harmless from and indemnified out of the assets of the trust against all loss and expense arising from such claim or demand. | The shareholders of a Massachusetts business trust could, under certain circumstances, be held personally liable as partners for its obligations. However, the Declaration of Trust contains express disclaimers of shareholder liability for acts, obligations or affairs of the trust. The Declaration of Trust also provides for indemnification and reimbursement of expenses out of the assets of a series for any shareholder held personally liable for obligations of such series. Therefore, the possibility that a shareholder could be held liable would be limited to a situation in which the assets of the applicable series had been exhausted. | The shareholders of a Massachusetts business trust could, under certain circumstances, be held personally liable as partners for its obligations. However, the Declaration of Trust contains express disclaimers of shareholder liability for acts, obligations or affairs of the trust. The Declaration of Trust also provides for indemnification and reimbursement of expenses out of the assets of a series for any shareholder held personally liable for obligations of such series. Therefore, the possibility that a shareholder could be held liable would be limited to a situation in which the assets of the applicable series had been exhausted. | |||
Shareholder Voting Rights | Shareholders have only the powers to vote on matters as the trustees may consider desirable and so authorize, and those voting powers expressly granted under the 1940 Act or under the law of Delaware applicable to statutory trusts. | At all meetings of shareholders, each shareholder of record is entitled to one vote for each dollar of net asset value (number of shares owned times net asset value per share) and each fractional dollar amount is entitled to a proportionate fractional vote. | Any fractional share of a series or class shall carry proportionately all the rights and obligations of a whole share of that series or class, including rights with respect to voting. |
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Policy | Group A | Group B | Group C | |||
Shares may be voted in person or by proxy or in any manner authorized by the trustees. On any matter that requires shareholder approval under the 1940 Act, whether shareholders are required to vote by series or class is determined by reference to the 1940 Act. On all other matters, all shares are voted in the aggregate and not by series or class unless the trustees determine otherwise.
Each whole share is entitled to one vote as to any matter on which it is entitled to vote, and each fractional share is entitle to a proportionate fractional vote.
There is no cumulative voting in the election of trustees. |
The shareholders have the power to vote (i) for the election of trustees, (ii) to the same extent as shareholders of a Massachusetts business corporation as to whether or not a court action, proceeding or claim should or should not be brought or maintained derivatively or as a class action on behalf of the trust or shareholder, (iii) with respect to termination of the trust or any class or series of the trust, (iv) with respect to the approval or termination in accordance with the 1940 Act of any contract with any one or more corporations, trusts, associations, partnerships, limited partnerships or other types of organizations, or individuals as to which shareholder approval is required by the 1940 Act, and (v) with respect to additional matters relating to the trust as may be required by the 1940 Act, the Declaration of Trust, the By-Laws or any registration of the trust with the SEC (or any successor agency) or any state, or as the trustees may consider necessary or desirable.
On any matter submitted to a vote of shareholders, all shares entitled to vote will be voted in the aggregate as a single class without regard to series or class of shares, except that shares may be voted by individual series or classes (1) when required by the 1940 Act, (2) when the trustees have determined that the matter affects one or more series or classes of shares materially differently, or (3) when the matter affects only the interests of one or more series or classes. |
The shareholders have the power to vote (i) for the election of trustees, (ii) to the same extent as shareholders of a Massachusetts business corporation as to whether or not a court action, proceeding or claim should or should not be brought or maintained derivatively or as a class action on behalf of the trust or shareholder, (iii) with respect to termination of the trust or any class or series of the trust, (iv) with respect to the approval or termination in accordance with the 1940 Act of any contract with any one or more corporations, trusts, associations, partnerships, limited partnerships or other types of organizations, or individuals as to which shareholder approval is required by the 1940 Act, and (v) with respect to additional matters relating to the trust as may be required by the 1940 Act, the Declaration of Trust, the By-Laws or any registration of the trust with the SEC (or any successor agency) or any state, or as the trustees may consider necessary or desirable.
On any matter submitted to a vote of shareholders, all shares entitled to vote will be voted in the aggregate as a single class without regard to series or class of shares, except that shares may be voted by individual series or classes (1) when required by the 1940 Act, (2) when the trustees have determined that the matter affects one or more series or classes of shares materially differently, or (3) when the matter affects only the interests of one or more series or classes. |
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Policy | Group A | Group B | Group C | |||
There is no cumulative voting in the election of trustees. | If authorized by the trustees, shareholders shall be entitled to vote cumulatively in the election of trustees.
| |||||
Shareholder Meetings | The trust is not required to hold annual meetings of shareholders.
Shareholders have the right to call special meetings and vote to remove trustees but only if and to the extent the SEC staff takes the position by rule, interpretive letter or public release that Section 16(c) of the 1940 Act gives them such right. Otherwise, only the trustees, the chairman of the trustees or the president of the trust may call shareholder meetings. | The Declaration of Trust and By-Laws do not address annual shareholder meetings. Regular shareholder meetings are not required for business trusts under the General Laws of Massachusetts.
Shareholder meetings will be held when called by the trustees for the purpose of taking action on any matter requiring the vote or authority of the shareholders, or for any other matter the trustees deem necessary or desirable. | The Declaration of Trust and By-Laws do not address annual shareholder meetings. Regular shareholder meetings are not required for business trusts under the General Laws of Massachusetts.
Shareholder meetings will be held when called by the trustees for the purpose of taking action on any matter requiring the vote or authority of the shareholders, or for any other matter the trustees deem necessary or desirable. | |||
Shareholder Quorum | Except when a larger quorum is required by applicable law, thirty-three and one-third percent (33 1/3%) of the shares entitled to vote constitutes a quorum at a shareholders’ meeting. When any one or more series or classes of the trust is to vote as a single class separate from any other shares, thirty-three and one-third percent (33 1/3%) of the shares of each such series or classes entitled to vote constitutes a quorum at a shareholder’s meeting of that series.
A meeting may be adjourned, whether or not a quorum is present, by the vote of a majority of the shares represented at the meeting, either in | The presence in person or by proxy of 30% of the votes entitled to be cast at a meeting constitutes a quorum.
When any one or more series or classes votes as a single class separate from any other shares which are to vote on the same matters as a separate class or classes, 30% of the votes entitled to be cast by each such class entitled to vote constitutes a quorum at a shareholders’ meeting of that class.
A meeting may be adjourned by a majority of the votes properly cast upon the question, whether or not a quorum is present, and the meeting may be held as adjourned within a reasonable | The presence in person or by proxy of 10% of the votes entitled to be cast at a meeting constitutes a quorum.
When any one or more series or classes votes as a single class separate from any other shares which are to vote on the same matters as a separate class or classes, 10% of the votes entitled to be cast by each such class entitled to vote constitutes a quorum at a shareholders’ meeting of that class.
A meeting may be adjourned by a majority of the votes properly cast upon the question, whether or not a quorum is present, and the meeting may be held as adjourned within a reasonable |
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Policy | Group A | Group B | Group C | |||
person or by proxy. If a meeting is adjourned, notice does not need to be given of the adjourned meeting date unless a new record date for the adjourned meeting is set or unless the adjourned meeting is to take place more than sixty (60) days from the date set for the original meeting, in which case the board of trustees would be required to set a new record date.
| time after the date set for the original meeting without further notice. | time after the date set for the original meeting without further notice. | ||||
Shareholder Consent | Any action taken by shareholders may be taken without a meeting if shareholders holding a majority of the shares entitled to vote on the matter and holding a majority of the shares of any series or class entitled to vote separately on the matter consent to the action in writing and such written consents are filed with the records of the meetings of shareholders. Such consent is treated for all purposes as a vote taken at a meeting of shareholders. | Except as otherwise provided by law, the Declaration of Trust or the By-Laws, any action required or permitted to be taken at any meeting of shareholders may be taken without a meeting if a majority of the shareholders entitled to vote consent to the action in writing and the consents are filed with the records of the trust. The consent will be treated for all purposes as a vote taken at a meeting of shareholders. | Except as otherwise provided by law, the Declaration of Trust or the By-Laws, any action required or permitted to be taken at any meeting of shareholders may be taken without a meeting if a majority of the shareholders entitled to vote consent to the action in writing and the consents are filed with the records of the trust. The consent will be treated for all purposes as a vote taken at a meeting of shareholders. | |||
Notice to Shareholders of Record Date | Notice of any meeting of shareholders must be given by the trustees, chairman of the trustees or president not less than 7 days nor more than 120 days before the date of the meeting.
The trustees may set a record date for the | Written notice of any meeting of shareholders must be given by the trustees at least 7 days before the meeting.
The trustees may set a record date for the purpose of determining the shareholders entitled to notice of or | Written notice of any meeting of shareholders must be given by the trustees at least 7 days before the meeting.
The trustees may set a record date for the purpose of determining the shareholders entitled to notice of or |
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Policy | Group A | Group B | Group C | |||
purpose of determining the shareholders entitled to vote or act at a shareholders’ meeting. The record date cannot be more than 120 days before the date of the meeting.
| to vote at a shareholder meeting. The record date cannot be more than 90 days or less than 7 days before the date of the meeting. | to vote at a shareholder meeting. The record date cannot be more than 90 days or less than 7 days before the date of the meeting. | ||||
Shareholder Proxies | Shareholders may vote in person or by proxy.
Unless the trustees declare otherwise, proxies may be given by any electronic or telecommunications device, including telefacsimile, telephone or through the Internet, but if a proposal by anyone other than the officers or trustees is submitted to a vote of the shareholders of any series or class, or if there is a proxy contest or proxy solicitation or proposal in opposition to any proposal by the officers or trustees, shares may be voted only in person or by written proxy unless the trustees specifically authorize other permissible methods of transmission.
The trustees may appoint inspectors for any meeting of shareholders, and these inspectors are charged with, among other things, determining the authenticity, validity and effect of proxies. | Shareholders may vote in person or by proxy.
A proxy with respect to shares held in the name of two or more persons will be valid if executed by any one of them unless at or prior to exercise of the proxy the trust receives a specific written notice to the contrary from any one of them. A proxy purporting to be executed by or on behalf of a shareholder will be deemed valid unless challenged at or prior to its exercise and the burden of proving invalidity rests on the challenger. | Shareholders may vote in person or by proxy.
A proxy with respect to shares held in the name of two or more persons will be valid if executed by any one of them unless at or prior to exercise of the proxy the trust receives a specific written notice to the contrary from any one of them. A proxy purporting to be executed by or on behalf of a shareholder will be deemed valid unless challenged at or prior to its exercise and the burden of proving invalidity rests on the challenger. |
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Policy | Group A | Group B | Group C | |||
Shareholder Demand Procedure | If a meeting of shareholders has not been held during the immediately preceding fifteen (15) months for the purpose of electing trustees, a shareholder or shareholders holding three percent (3%) or more of the voting power of all shares entitled to vote may demand a meeting of shareholders for the purpose of electing trustees by written notice of demand given to the trustees. Within thirty (30) days after receipt of such demand, the trustees shall call and give notice of a meeting of shareholders for the purpose of electing trustees. If the trustees shall fail to call such meeting or give notice thereof, then the shareholder or shareholders making the demand may call and give notice of such meeting at the expense of the trust. The trustees shall promptly call and give notice of a meeting of shareholders for the purpose of voting upon removal of any trustee of the trust when requested to do so in writing by shareholders holding not less than ten percent (10%) of the shares then outstanding. If the trustees shall fail to call or give notice of any meeting of |
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Policy | Group A | Group B | Group C | |||
shareholders for a period of thirty (30) days after written application by shareholders holding at least ten percent (10%) of the shares then outstanding requesting that a meeting be called for any purpose requiring action by the shareholders as provided in the Declaration of Trust or the By-laws, then shareholders holding at least ten percent (10%) of the shares then outstanding may call and give notice of such meeting.
| ||||||
Trustee Power to Amend Organizational Document | The trustees may, without shareholder vote, amend or otherwise supplement the Declaration of Trust; provided that shareholders have the right to vote on any amendment if expressly required under Delaware law or the 1940 Act, or submitted to shareholders by the trustees at their discretion. | The trustees may amend the Declaration of Trust at any time by an instrument in writing signed by a majority of the then trustees provided that notice of such amendment is transmitted promptly to shareholders of record.
The trustees need not, however, provide notice of an amendment if the amendment is for the purpose of supplying an omission, curing any ambiguity or curing, correcting or supplementing any defective or inconsistent provision contained in the Declaration of Trust, or having any other purpose which is ministerial or clerical in nature. | The trustees may amend the Declaration of Trust at any time by an instrument in writing signed by a majority of the then trustees provided that notice of such amendment is transmitted promptly to shareholders of record.
The trustees need not, however, provide notice of an amendment if the amendment is for the purpose of supplying an omission, curing any ambiguity or curing, correcting or supplementing any defective or inconsistent provision contained in the Declaration of Trust, or having any other purpose which is ministerial or clerical in nature. |
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Policy | Group A | Group B | Group C | |||
Termination of Trust | The trust and any series thereof may be terminated at any time by the board of trustees with written notice to shareholders. To the extent the 1940 Act expressly allows shareholders the power to vote on such terminations, the trust or any series thereof may be terminated by a vote of a majority of shares entitled to vote. | The trust may be terminated by the trustees with written notice to shareholders, or by the affirmative vote of at least two-thirds of the shares of each series entitled to vote.
Any series of or class may be terminated by the affirmative vote of at least two-thirds of the shares of that series or class, or by the trustees by written notice to the shareholders of that series or class.
| The trust may be terminated by the trustees with written notice to shareholders, or by the affirmative vote of at least two-thirds of the shares of each series entitled to vote.
Any series of or class may be terminated by the affirmative vote of at least two-thirds of the shares of that series or class, or by the trustees by written notice to the shareholders of that series or class.
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Merger or Consolidation | The trustees have the power to cause the trust or any series to be merged or consolidated with another trust or company. The trustees may accomplish such merger or consolidation with written notice to shareholders but without the vote of shareholders, unless such shareholder vote is required by law. | Subject to applicable laws, the trustees may, without shareholder consent, cause the trust or any series to be merged or consolidated with another trust or company. The trustees may also transfer all or a substantial portion of the trust’s assets to another fund or company. | Subject to applicable laws, the trustees may, without shareholder consent, cause the trust or any series to be merged or consolidated with another trust or company. The trustees may also transfer all or a substantial portion of the trust’s assets to another fund or company. | |||
Removal of Trustees | A trustee may be removed with or without cause at any time by a written instrument signed by at least two-thirds of the other trustees.
In addition, if required by Section 16(c) of the 1940 Act, any trustee may be removed at any meeting of the shareholders by a vote of at least two-thirds of the outstanding shares. | Trustees may be removed with or without cause by majority vote of the trustees. | Trustees may be removed with or without cause by majority vote of the trustees. |
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Policy | Group A | Group B | Group C | |||
Trustee Committees | The trust has two standing committees that may not be abolished: the Audit Committee and the Nominating Committee. Otherwise, the trustees may, with a majority vote of the trustees, appoint from their number other committees consisting of two or more trustees which may be delegated such authority as the trustees consider desirable. The trustees may also abolish the non-standing committees with a majority vote of the trustees.
Each committee may elect a chair and each committee must maintain records of its meetings and report its actions to the full board of trustees.
A majority of the authorized number of committee members shall constitute a quorum for the transaction of business of such committee, unless the board of trustees designates a lower percentage. | The trustees may appoint from their own number and terminate committees consisting of one or more trustees, which may exercise the powers and authority of the trustees to the extent that the trustees determine. | The trustees may appoint from their own number and terminate committees consisting of one or more trustees, which may exercise the powers and authority of the trustees to the extent that the trustees determine, provided, that an Executive Committee designated by the trustees shall not be empowered to elect the president or the treasurer, to amend the By-laws, to designate, alter or abolish any committee designated by the trustees, or to perform any act for which the action of a majority of the trustees is required by law, by the Declaration of Trust or the By-laws. | |||
Trustee Liability | Trustees will be liable to the trust by reason of willful misfeasance, bad faith, negligence or reckless disregard of the duties involved in the conduct of the trustee’s office. | Trustees are not subject to personal liability, except by reason of willful misfeasance, bad faith, gross negligence or reckless disregard of the duties involved in the conduct of the office of trustee. Additionally, trustees | Trustees are not subject to personal liability, except by reason of willful misfeasance, bad faith, gross negligence or reckless disregard of the duties involved in the conduct of the office of trustee. Additionally, trustees |
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Policy | Group A | Group B | Group C | |||
are not personally liable for any neglect or wrong-doing of any officer, agent, or employee of the trust or for any act or omission of any other trustee.
Trustees that are singled out as experts on particular issues, such as a chair of a committee, are not held to any higher standard than their non-expert counterparts.
| are not personally liable for any neglect or wrong-doing of any officer, agent, or employee of the trust or for any act or omission of any other trustee.
Trustees that are singled out as experts on particular issues, such as a chair of a committee, are not held to any higher standard than their non-expert counterparts.
| |||||
Trustee Indemnification | The trust indemnifies the trustees against expenses, judgments, fines and settlements and other amounts actually and reasonably incurred in connection with any civil or criminal proceeding or investigations, if it is determined that the trustee acted in good faith and reasonably believed 1) that his or her conduct was in the trust’s best interests, and 2) that his or her conduct was at least not opposed to the trust’s best interests, and 3) in the case of a criminal proceeding, that he or she had no reasonable cause to believe that the conduct was unlawful. | The trust indemnifies each of its trustees against all liabilities and expenses, including amounts paid in satisfaction of judgments, in compromise or as fines and penalties, and attorneys’ fees incurred in connection with the defense of any civil or criminal suit or action, except with respect to any matter (i) as to which a trustee is finally adjudicated in any such action or proceeding not to have acted in good faith in reasonable belief that such trustee’s action was in the best interests of the trust; or (ii) where the trustee acted in willful misfeasance, bad faith, gross negligence or reckless disregard of the duties involved in the conduct of such trustee’s office.
Expenses, including counsel fees, so | Each person made or threatened to be made a party to or who is involved (including, without limitation, as a witness) in any actual or threatened action, suit or proceeding whether civil, criminal, administrative, arbitration, or investigative, including a proceeding by or in the right of the trust by reason of the former or present capacity as a trustee of the trust or who, while a trustee of the trust, is or was serving at the request of the trust or whose duties as a trustee involve or involved service as a director, officer, partner, trustee or agent of another organization or employee benefit plan whether the basis of any proceeding is alleged action in an official capacity or in any capacity while serving as a director, |
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Policy | Group A | Group B | Group C | |||
A trustee will not, however, be indemnified 1) with respect to any matters where the trustee is judged to be liable on the basis that a personal benefit was improperly received, whether or not the benefit resulted from action taken in that trustee’s official capacity, 2) with respect to any matter where the trustee is judged to be liable in the performance of his or her duty to the trust unless the adjudicator determines that the trustee was not liable as the result of conduct in (1) above and that the trustee is fairly entitled to indemnification, and 3) with respect to amounts paid to settle or dispose of an action with or without court approval unless a) approved by a majority vote of a quorum of trustees who are not parties and are disinterested persons, or b) a written opinion of counsel is obtained.
Expenses incurred in defending any proceeding may be advanced by the trust before the final disposition of a proceeding upon a written undertaking by the trustee to repay the amount advanced if it is ultimately determined that he or she is not entitled to | incurred by any such trustee (but excluding amounts paid in satisfaction of judgments, in compromise or as fines or penalties) will be paid from time to time by the trust in advance of the final disposition of any such action, suit or proceeding upon receipt of an undertaking by or on behalf of such trustee to repay amounts so paid to the trust if it is ultimately determined that indemnification of such expenses is not authorized under the By-Laws, provided, however, that either (a) such trustee shall have provided appropriate security for such undertaking, (b) the trust shall be insured against losses arising from any such advance payments, or (c) either a majority of the disinterested trustees acting on the matter (provided that a majority of the disinterested trustees then in office act on the matter), or independent legal counsel in a written opinion, will have determined, based upon a review of readily available facts, that there is reason to believe that such trustee will be found entitled to indemnification under the By-Laws. | officer, partner, trustee or agent, shall be indemnified and held harmless by the trust to the full extent authorized by the laws of The Commonwealth of Massachusetts; provided, however, that in an action brought against the trust to enforce rights to indemnification, the trustee shall be indemnified only if the action was authorized by the board of trustees of the trust.
This right to indemnification shall be a contract right and shall include the right to be paid by the trust in advance of the final disposition of a proceeding for expenses incurred in connection therewith provided, however, such payment of expenses shall be made only upon receipt of a written undertaking by the trustee or officer to repay all amounts so paid if it is ultimately determined that the trustee or officer is not entitled to indemnification. |
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Policy | Group A | Group B | Group C | |||
indemnification, together with at least one of the following conditions to the advance: 1) security for the undertaking, 2) the existence of insurance protecting the trust against losses arising by reason of any lawful advances, or 3) a determination by a majority of a quorum of the trustees who are not parties to the proceeding and are not interested persons of the trust, or by an independent legal counsel, based on a review of the readily available facts that there is reason to believe that the trustee ultimately will be found entitled to indemnification. | ||||||
Dividends | The trustees may declare and pay dividends and distributions to shareholders of each series from the assets of such series. | Dividends and distributions may be paid to shareholders from the trust’s net income with the frequency as the trustees may determine.
| Dividends and distributions may be paid to shareholders from the trust’s net income with the frequency as the trustees may determine.
| |||
Capitalization | The beneficial interest in the trust shall at all times be divided into an unlimited number of shares, without par value. | The beneficial interest in the trust shall at all times be divided into an unlimited number of shares without par value. | The beneficial interest in the trust shall at all times be divided into an unlimited number of shares without par value. | |||
Number of Trustees and Vacancies | The number of trustees may be fixed by the trustees from time to time by a written instrument signed, or a resolution approved at a duly constituted meeting, by a majority of the trustees. | �� | The trustees may fix the number of trustees, fill vacancies in the trustees, including vacancies arising from an increase in the number of trustees, or remove trustees with or without cause. | The trustees may fix the number of trustees, fill vacancies in the trustees, including vacancies arising from an increase in the number of trustees, or remove trustees with or without cause. |
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Policy | Group A | Group B | Group C | |||
Provided, however, that the number of trustees cannot be fewer than 1 or more than 15.
Vacancies in the board of trustees may be filled by a majority of the remaining trustees, even if less than a quorum, or by a sole remaining trustee, unless the trustees call a meeting of shareholders for the purpose of electing trustees. In the event that at any time less than a majority of the trustees holding office at that time were so elected by shareholders, the board of trustees will hold a shareholders’ meeting within 60 days for the election of trustees to fill such vacancies on the board.
| Shareholders may fix the number of trustees and elect trustees at any meeting of shareholders called by the trustees for that purpose and to the extent required by applicable law, including paragraphs (a) and (b) of Section 16 of the 1940 Act.
Each trustee serves during the continued lifetime of the trust until he or she dies, resigns or is removed, or, if sooner, until the next meeting of shareholders called for the purpose of electing trustees and until the election and qualification of his or her successor. | Shareholders may elect trustees at any meeting of shareholders called by the trustees for that purpose and to the extent required by applicable law, including paragraphs (a) and (b) of Section 16 of the 1940 Act.
Each trustee serves during the continued lifetime of the trust until he or she dies, resigns or is removed, or, if sooner, until the next meeting of shareholders called for the purpose of electing trustees and until the election and qualification of his or her successor. | ||||
Independent Chair of the Board | The Declaration of Trust does not require an independent chair of the board of trustees. | The Declaration of Trust and By-Laws do not require an independent chair of the board of trustees. | The By-Laws require an independent chair of the board of trustees. | |||
Inspection of Books and Records | The original or a copy of the Declaration of Trust, and of each amendment thereto, is kept at the office of the trust where it may be inspected by any shareholder. | The original or a copy of the Declaration of Trust, and of each amendment thereto, is kept at the office of the trust where it may be inspected by any shareholder.
| The original or a copy of the Declaration of Trust, and of each amendment thereto, is kept at the office of the trust where it may be inspected by any shareholder.
| |||
Involuntary Redemption of Accounts | The trustees may redeem, repurchase and transfer shares pursuant to applicable law. | The trust has the right at its option and at any time to redeem shares of any shareholder at the net asset value thereof: (i) if at such time such shareholder owns shares of any | The trust has the right at its option and at any time to redeem shares of any shareholder at the net asset value thereof: (i) if at such time such shareholder owns shares of any |
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Policy | Group A | Group B | Group C | |||
series or class having an aggregate net asset value of less than an amount determined from time to time by the trustees; or (ii) to the extent that such shareholder owns shares equal to or in excess of a percentage determined from time to time by the trustees of the outstanding shares of the trust or of any series or class. | series or class having an aggregate net asset value of less than an amount determined from time to time by the trustees; or (ii) to the extent that such shareholder owns shares equal to or in excess of a percentage determined from time to time by the trustees of the outstanding shares of the trust or of any series or class. |
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EVERY SHAREHOLDER’S VOTE IS IMPORTANT
EASY VOTING OPTIONS: | ||||
| VOTE ON THE INTERNET Log on to: www.proxy-direct.com or scan the QR code Follow the on-screen instructions available 24 hours | |||
![]() | VOTE BY PHONE Call 1-800-337-3503 Follow the recorded instructions available 24 hours | |||
![]() | VOTE BY MAIL Vote, sign and date this Proxy Card and return in the postage-paid envelope | |||
![]() | VOTE IN PERSON Attend Shareholder Meeting 225 Franklin Street, Boston, MA 10:00 AM on April 15, 2016 |
Please detach at perforation before mailing.
COLUMBIA FUNDS | PROXY | |||
SPECIAL MEETING OF SHAREHOLDERS | ||||
TO BE HELD ON APRIL 15, 2016 |
The undersigned shareholder of the Fund or Funds named below hereby acknowledges receipt of the Notice of Special Meeting and Proxy Statement for the special meeting of shareholders (for each Fund and the Trust as a whole, including any postponements or adjournments thereof, the “Meeting”) to be held at 10:00 AM Eastern Time, on April 15, 2016, at 225 Franklin Street, Boston, MA (32nd Floor, Room 3200), and, revoking any previous proxies, hereby appoints Christopher O. Petersen, Michael G. Clarke, Paul B. Goucher, Keith E. Stone, Julian Quero, Ryan C. Larrenaga, and Joseph D’Alessandro (the “Proxies”) (or any of them) as proxies for the undersigned, with full power of substitution in each of them, to attend the Meeting and to cast on behalf of the undersigned all the votes the undersigned is entitled to cast at the Meeting and otherwise represent the undersigned at the Meeting with all the powers possessed by the undersigned as if personally present at the Meeting.
YOUR VOTE IS IMPORTANT. Mark, sign, date and return this proxy card as soon as possible.
VOTE VIA THE INTERNET: www.proxy-direct.com | ||
VOTE VIA THE TELEPHONE: 1-800-337-3503 |
Note: Please sign exactly as your name(s) appear(s) on this proxy card, and date it. When shares are held jointly, each holder should sign. When signing in a representative capacity, please give title. | ||||
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Signature and Title, if applicable | ||||
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Signature (if held jointly) | ||||
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Date | COL_27405_121815 |
THIS PROXY CARD IS VALID ONLY WHEN SIGNED AND DATED ABOVE.
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EVERY SHAREHOLDER’S VOTE IS IMPORTANT
Important Notice Regarding the Availability of Proxy Materials for the
Shareholder Meeting to be Held on April 15, 2016.
This Proxy Statement and the Notice of Special Meeting are available at:
https://www.proxy-direct.com/col-27405
IF YOU VOTE ON THE INTERNET OR BY TELEPHONE,
YOU NEED NOT RETURN THIS PROXY CARD
FUNDS | FUNDS | FUNDS | ||
Columbia Value and Restructuring Fund | Columbia Large Cap Growth Fund II | Columbia Large Cap Growth Fund III | ||
Columbia Large Cap Growth Fund IV | Columbia Large Cap Growth Fund V | Columbia Multi-Advisor Small Cap Value Fund | ||
Columbia International Value Fund | Columbia International Opportunities Fund |
Please detach at perforation before mailing.
THE BOARD RECOMMENDS A VOTE FOR EACH OF THE PROPOSALS LISTED BELOW. THIS PROXY CARD, WHEN PROPERLY EXECUTED, WILL BE VOTED IN THE MANNER DIRECTED BELOW AND, ABSENT DIRECTION, WILL BE VOTED FOR EACH OF THE PROPOSALS LISTED BELOW. THE PROXIES ARE ALSO AUTHORIZED TO VOTE UPON ANY OTHER BUSINESS THAT MAY PROPERLY COME BEFORE THE MEETING OR ANY ADJOURNMENTS OR POSTPONEMENTS THEREOF, INCLUDING ANY ADJOURNMENT(S) NECESSARY TO OBTAIN QUORUMS AND/OR APPROVALS.
PLEASE MARK BOXES BELOW IN BLUE OR BLACK INK AS FOLLOWS. Example: ¢
1. To approve and Agreement and Plan of Reorganization between Columbia Value and Restructuring Fund and Columbia Contrarian Core Fund. | ||||||||||||||
FOR | AGAINST | ABSTAIN | ||||||||||||
Columbia Value and Restructuring Fund | ¨ | ¨ | ¨ | |||||||||||
2. To approve and Agreement and Plan of Reorganization between Columbia Large Cap Growth Fund II, Columbia Large Cap Growth Fund III, Columbia Large Cap Growth Fund IV, and Columbia Large Cap Growth Fund V and Columbia Large Cap Growth Fund. | ||||||||||||||
FOR | AGAINST | ABSTAIN | FOR | AGAINST | ABSTAIN | |||||||||
01 Columbia Large Cap Growth Fund II | ¨ | ¨ | ¨ | 02 Columbia Large Cap Growth Fund III | ¨ | ¨ | ¨ | |||||||
03 Columbia Large Cap Growth Fund IV | ¨ | ¨ | ¨ | 04 Columbia Large Cap Growth Fund V | ¨ | ¨ | ¨ | |||||||
3. To approve and Agreement and Plan of Reorganization between Columbia Multi-Advisor Small Cap Value Fund and Columbia Select Smaller-Cap Value Fund. | ||||||||||||||
FOR | AGAINST | ABSTAIN | ||||||||||||
Columbia Multi-Advisor Small Cap Value Fund | ¨ | ¨ | ¨ | |||||||||||
4. To approve and Agreement and Plan of Reorganization between Columbia International Value Fund and Columbia Overseas Value Fund. | ||||||||||||||
FOR | AGAINST | ABSTAIN | ||||||||||||
Columbia International Value Fund | ¨ | ¨ | ¨ | |||||||||||
5. To approve and Agreement and Plan of Reorganization between Columbia International Opportunities Fund and Columbia Select International Equity Fund. | ||||||||||||||
FOR | AGAINST | ABSTAIN | ||||||||||||
Columbia International Opportunities Fund | ¨ | ¨ | ¨ |
EVERY VOTE IS IMPORTANT! PLEASE VOTE TODAY USING ONE OF THE FOUR AVAILABLE OPTIONS!
COL_27405_121815
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STATEMENT OF ADDITIONAL INFORMATION
[Date, 2016]
This Statement of Additional Information (the “SAI”) relates to the following proposed reorganizations (the “Reorganizations”):
1. | Reorganization of Columbia Value and Restructuring Fund, a series of Columbia Funds Series Trust I (a “Selling Fund”) into Columbia Contrarian Core Fund, a series of Columbia Funds Series Trust I (a “Buying Fund”). |
2. | Reorganization of each of Columbia Large Cap Growth Fund II (formerly, Columbia Marsico 21st Century Fund), Columbia Large Cap Growth Fund III (formerly, Columbia Marsico Focused Equities Fund), Columbia Large Cap Growth Fund V (formerly, Columbia Marsico Growth Fund), each a series of Columbia Funds Series Trust, and Columbia Large Cap Growth Fund IV (formerly, Columbia Marsico Flexible Capital Fund), a series of Columbia Funds Series Trust II (each a “Selling Fund”) into Columbia Large Cap Growth Fund, a series of Columbia Funds Series Trust I (a “Buying Fund”). |
3. | Reorganization of Columbia Multi-Advisor Small Cap Value Fund, a series of Columbia Funds Series Trust II (a “Selling Fund”) into Columbia Select Smaller-Cap Value Fund, a series of Columbia Funds Series Trust II (a “Buying Fund”). |
4. | Reorganization of Columbia International Value Fund, a series of Columbia Funds Series Trust (a “Selling Fund”), into Columbia Overseas Value Fund, a series of Columbia Funds Series Trust (a “Buying Fund”). |
5. | Reorganization of Columbia International Opportunities Fund, a series of Columbia Funds Series Trust (a “Selling Fund”) into Columbia Select International Equity Fund, a series of Columbia Funds Series Trust (a “Buying Fund”). |
This SAI contains information which may be of interest to shareholders of the Selling Funds but which is not included in the combined Proxy Statement/Prospectus dated [[Date, 2016]] (the “Proxy Statement/Prospectus”) which relates to the Reorganizations. As described in the Proxy Statement/Prospectus, the Reorganizations would involve the transfer of all the assets of each Selling Fund in exchange for shares of the Buying Fund and the assumption of all the liabilities of each Selling Fund by the Buying Fund. Each Selling Fund would distribute the Buying Fund shares it receives to its shareholders in complete liquidation of each Selling Fund. This SAI is not a prospectus and should be read in conjunction with the Proxy Statement/Prospectus. The Proxy Statement/Prospectus has been filed with the Securities and Exchange Commission and is available upon request and without charge by writing to the Buying Funds at c/o Columbia Management Investment Services Corp., P.O. Box 8081, Boston, MA 02266-8081, or by calling 800.345.6611.
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A-1 | ||||
B-1 |
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ADDITIONAL INFORMATION ABOUT EACH BUYING FUND
Attached hereto as Appendix A is the Statement of Additional Information of the Columbia Contrarian Core Fund and Columbia Large Cap Growth Fund dated December 1, 2015.
INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRMS
PricewaterhouseCoopers LLP, located at 225 South 6th Street, Minneapolis, MN 55402, is the independent registered public accounting firm for Columbia Contrarian Core Fund, Columbia Large Cap Growth Fund, Columbia Select Smaller-Cap Value Fund, Columbia Overseas Value Fund and Columbia Select International Equity Fund, providing audit and tax return review services and assistance and consultation in connection with the review of various Securities and Exchange Commission filings.
The Report of Independent Registered Public Accounting Firm, Financial Highlights and Financial Statements included in Columbia Contrarian Core Fund’s Annual Report to Shareholders for the fiscal year ended August 31, 2015; the Report of Independent Registered Public Accounting Firm, Financial Highlights and Financial Statements included in Columbia Large Cap Growth Fund’s Annual Report to Shareholders for the fiscal year ended July 31, 2015; the Report of Independent Registered Public Accounting Firm, Financial Highlights and Financial Statements included in Columbia Select Smaller-Cap Value Fund’s Annual Report to Shareholders for the fiscal year ended May 31, 2015; the Report of Independent Registered Public Accounting Firm, Financial Highlights and Financial Statements included in Columbia Overseas Value Fund’s Annual Report to Shareholders for the fiscal year ended February 28, 2015; and the Report of Independent Registered Public Accounting Firm, Financial Highlights and Financial Statements included in Columbia Select International Equity Fund’s Annual Report to Shareholders for the fiscal year ended February 28, 2015 are incorporated by reference into this SAI.
The audited financial statements for Columbia Contrarian Core Fund, Columbia Large Cap Growth Fund, Columbia Select Smaller-Cap Value Fund, Columbia Overseas Value Fund and Columbia Select International Equity Fund included in their respective Annual Reports to Shareholders and incorporated by reference into this SAI have been so included and incorporated in reliance upon the reports of PricewaterhouseCoopers LLP, given on their authority as experts in auditing and accounting. The audited financial statements for Columbia Value and Restructuring Fund, Columbia Large Cap Growth Fund II, Columbia Large Cap Growth Fund III, Columbia Large Cap Growth Fund IV, Columbia Large Cap Growth Fund V, Columbia Multi-Advisor Small Cap Value Fund, Columbia International Value Fund and Columbia International Opportunities Fund incorporated by reference to the Proxy Statement/Prospectus have been so included and incorporated in reliance upon the reports of PricewaterhouseCoopers LLP, given on their authority as experts in auditing and accounting.
Pro forma financial statements of the Buying Funds for the Reorganizations are attached hereto as Appendix B.
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Appendix A – Statement of Additional Information of Columbia Contrarian Core Fund and Columbia Large Cap Growth Fund
A-1
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![](https://capedge.com/proxy/N-14/0001193125-15-410995/g104994img663f1a9c1.gif)
Active Portfolios® Multi-Manager Alternative Strategies Fund | ||
Class A: CPASX | ||
Active Portfolios® Multi-Manager Core Plus Bond Fund | ||
Class A: CMCPX | ||
Active Portfolios® Multi-Manager Growth Fund | ||
Class A: CSLGX | ||
Active Portfolios® Multi-Manager Small Cap Equity Fund | ||
Class A: CSCEX | ||
CMG Ultra Short Term Bond Fund | ||
CMGUX | ||
Columbia Adaptive Alternatives Fund | ||
Class A: CLAAX | Class C: CLABX | Class I: CLIIX |
Class R: CRRLX | Class R4: CLFUX | Class R5: CLIVX |
Class W: CLAWX | Class Y: CLAYX | Class Z: CLAZX |
Columbia Adaptive Risk Allocation Fund | ||
Class A: CRAAX | Class C: CRACX | Class K: CRFRX |
Class R: CRKRX | Class R4: CARRX | Class R5: CRDRX |
Class W: CRAWX | Class Y: CARYX | Class Z: CRAZX |
Columbia AMT-Free Connecticut Intermediate Muni Bond Fund | ||
Class A: LCTAX | Class B: LCTBX | Class C: LCTCX |
Class R4: CCTMX | Class T: GCBAX | Class Z: SCTEX |
Columbia AMT-Free Intermediate Muni Bond Fund | ||
Class A: LITAX | Class B: LITBX | Class C: LITCX |
Class R4: CIMRX | Class R5: CTMRX | Class T: GIMAX |
Class Z: SETMX | ||
Columbia AMT-Free Massachusetts Intermediate Muni Bond Fund | ||
Class A: LMIAX | Class B: LMIBX | Class C: LMICX |
Class R4: CMANX | Class T: GMBAX | Class Z: SEMAX |
Columbia AMT-Free New York Intermediate Muni Bond Fund | ||
Class A: LNYAX | Class B: LNYBX | Class C: LNYCX |
Class R4: CNYIX | Class T: GANYX | Class Z: GNYTX |
Columbia AMT-Free Oregon Intermediate Muni Bond Fund | ||
Class A: COEAX | Class B: COEBX | Class C: CORCX |
Class R4: CORMX | Class R5: CODRX | Class Z: CMBFX |
Columbia Balanced Fund | ||
Class A: CBLAX | Class B: CBLBX | Class C: CBLCX |
Class K: CLRFX | Class R: CBLRX | Class R4: CBDRX |
Class R5: CLREX | Class Y: CBDYX | Class Z: CBALX |
Columbia Bond Fund | ||
Class A: CNDAX | Class B: CNDBX | Class C: CNDCX |
Class I: CBNIX | Class R: CBFRX | Class R4: CNDRX |
Class R5: CNFRX | Class T: CNDTX | Class W: CBDWX |
Class Y: CBFYX | Class Z: UMMGX | |
Columbia California Tax-Exempt Fund | ||
Class A: CLMPX | Class B: CCABX | Class C: CCAOX |
Class R4: CCARX | Class Z: CCAZX | |
Columbia Contrarian Core Fund | ||
Class A: LCCAX | Class B: LCCBX | Class C: LCCCX |
Class I: CCCIX | Class K: CCRFX | Class R: CCCRX |
Class R4: CORRX | Class R5: COFRX | Class T: SGIEX |
Class W: CTRWX | Class Y: COFYX | Class Z: SMGIX |
Columbia Corporate Income Fund | ||
Class A: LIIAX | Class B: CIOBX | Class C: CIOCX |
Class I: CPTIX | Class R4: CIFRX | Class R5: CPIRX |
Class W: CPIWX | Class Y: CRIYX | Class Z: SRINX |
Columbia Diversified Absolute Return Fund | ||
Class A: CDUAX | Class C: CDUCX | Class I: CDUIX |
Class R4: CDUFX | Class R5: CDUGX | Class W: CDUWX |
Class Z: CDUZX | ||
Columbia Diversified Real Return Fund | ||
Class A: CDRAX | Class C: CDRCX | Class R4: CDRRX |
Class R5: CDRFX | Class W: CDTWX | Class Z: CDRZX |
Columbia Dividend Income Fund | ||
Class A: LBSAX | Class B: LBSBX | Class C: LBSCX |
Class I: CDVIX | Class R: CDIRX | Class R4: CVIRX |
Class R5: CDDRX | Class T: GEQAX | Class W: CDVWX |
Class Y: CDDYX | Class Z: GSFTX | |
Columbia Emerging Markets Fund | ||
Class A: EEMAX | Class B: CEBMX | Class C: EEMCX |
Class I: CEHIX | Class K: CEKMX | Class R: CEMRX |
Class R4: CEMHX | Class R5: CEKRX | Class W: CEMWX |
Class Y: CEKYX | Class Z: UMEMX | |
Columbia Global Dividend Opportunity Fund | ||
Class A: CSVAX | Class B: CSVBX | Class C: CSRCX |
Class I: CEVIX | Class R: CSGRX | Class R4: CGOLX |
Class R5: CADPX | Class W: CTVWX | Class Y: CLSYX |
Class Z: CSVFX | ||
Columbia Global Energy and Natural Resources Fund | ||
Class A: EENAX | Class B: CEGBX | Class C: EENCX |
Class I: CERIX | Class K: CEGFX | Class R: CETRX |
Class R4: CENRX | Class R5: CNRRX | Class Z: UMESX |
Columbia Global Inflation-Linked Bond Plus Fund | ||
Class I: CGNIX | Class W: CLBGX | Class Z: CGNZX |
Columbia Global Technology Growth Fund | ||
Class A: CTCAX | Class B: CTCBX | Class C: CTHCX |
Class I: CONIX | Class R4: CTYRX | Class R5: CTHRX |
Class Z: CMTFX | ||
Columbia Global Unconstrained Bond Fund | ||
Class A: CLUAX | Class C: CLUCX | Class I: CLUIX |
Class R4: CLUFX | Class R5: CLUVX | Class W: CLUWX |
Class Z: CLUZX | ||
Columbia Greater China Fund | ||
Class A: NGCAX | Class B: NGCBX | Class C: NGCCX |
Class I: CCINX | Class R4: CGCHX | Class R5: CGCRX |
Class W: CGCWX | Class Z: LNGZX | |
Columbia High Yield Municipal Fund | ||
Class A: LHIAX | Class B: CHMBX | Class C: CHMCX |
Class R4: CHIYX | Class R5: CHMYX | Class Z: SRHMX |
Columbia Intermediate Bond Fund | ||
Class A: LIBAX | Class B: LIBBX | Class C: LIBCX |
Class I: CIMIX | Class K: CIBKX | Class R: CIBRX |
Class R4: CBNRX | Class R5: CTBRX | Class W: CIBWX |
Class Y: CTBYX | Class Z: SRBFX | |
Columbia Large Cap Growth Fund | ||
Class A: LEGAX | Class B: LEGBX | Class C: LEGCX |
Class E: CLGEX | Class F: CLGFX | Class I: CLGIX |
Class K: CLRUX | Class R: CGWRX | Class R4: CCGRX |
Class R5: CLWFX | Class T: GAEGX | Class W: CLGWX |
Class Y: CGFYX | Class Z: GEGTX | |
Columbia Mid Cap Growth Fund | ||
Class A: CBSAX | Class B: CBSBX | Class C: CMCCX |
Class I: CMTIX | Class K: CMCKX | Class R: CMGRX |
Class R4: CPGRX | Class R5: CMGVX | Class T: CBSTX |
Class W: CMRWX | Class Y: CMGYX | Class Z: CLSPX |
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Columbia Multi-Asset Income Fund | ||
Class A: CLNAX | Class C: CLCNX | Class I: CLNIX |
Class R4: CLNFX | Class R5: CLNVX | Class W: CLNWX |
Class Z: CLNZX | ||
Columbia New York Tax-Exempt Fund | ||
Class A: COLNX | Class B: CNYBX | Class C: CNYCX |
Class R4: CNYEX | Class R5: CNYRX | Class Z: CNYZX |
Columbia Pacific/Asia Fund | ||
Class A: CASAX | Class C: CASCX | Class I: CPCIX |
Class R4: CPRAX | Class W: CPAWX | Class Z: USPAX |
Columbia Real Estate Equity Fund | ||
Class A: CREAX | Class B: CREBX | Class C: CRECX |
Class I: CREIX | Class K: CRRFX | Class R: CRSRX |
Class R4: CRERX | Class R5: CRRVX | Class W: CREWX |
Class Z: CREEX | ||
Columbia Select Large Cap Growth Fund | ||
Class A: ELGAX | Class C: ELGCX | Class I: CSPIX |
Class R: URLGX | Class R4: CSRRX | Class R5: CGTRX |
Class W: CSLWX | Class Y: CCWRX | Class Z: UMLGX |
Columbia Small Cap Core Fund | ||
Class A: LSMAX | Class B: LSMBX | Class C: LSMCX |
Class I: CPOIX | Class R4: CFFRX | Class R5: CLLRX |
Class T: SSCEX | Class W: CSCWX | Class Y: CPFRX |
Class Z: SMCEX | ||
Columbia Small Cap Growth Fund I | ||
Class A: CGOAX | Class B: CGOBX | Class C: CGOCX |
Class I: CSWIX | Class K: CSCKX | Class R: CCRIX |
Class R4: CHHRX | Class R5: CSCRX | Class Y: CSGYX |
Class Z: CMSCX |
Columbia Small Cap Value Fund I | ||
Class A: CSMIX | Class B: CSSBX | Class C: CSSCX |
Class I: CVUIX | Class R: CSVRX | Class R4: CVVRX |
Class R5: CUURX | Class Y: CSVYX | Class Z: CSCZX |
Columbia Strategic Income Fund | ||
Class A: COSIX | Class B: CLSBX | Class C: CLSCX |
Class K: CSIVX | Class R: CSNRX | Class R4: CMNRX |
Class R5: CTIVX | Class W: CTTWX | Class Y: CPHUX |
Class Z: LSIZX | ||
Columbia Tax-Exempt Fund | ||
Class A: COLTX | Class B: CTEBX | Class C: COLCX |
Class R4: CTERX | Class R5: CADMX | Class Z: CTEZX |
Columbia U.S. Social Bond Fund | ||
Class A: CONAX | Class C: CONCX | Class R4: CONFX |
Class R5: COVNX | Class Z: CONZX | |
Columbia U.S. Treasury Index Fund | ||
Class A: LUTAX | Class B: LUTBX | Class C: LUTCX |
Class I: CUTIX | Class R5: CUTRX | Class W: CTIWX |
Class Z: IUTIX | ||
Columbia Value and Restructuring Fund | ||
Class A: EVRAX | Class C: EVRCX | Class I: CVRIX |
Class R: URBIX | Class R4: CVRRX | Class R5: CVCRX |
Class W: CVRWX | Class Y: CVRYX | Class Z: UMBIX |
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S-1 |
Statement of Additional Information – December 1, 2015 | 1 |
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■ | the organization of the Trust; |
■ | the Funds' investments; |
■ | the Funds' investment adviser, investment subadviser(s) (if any) and other service providers, including roles and relationships of Ameriprise Financial and its affiliates, and conflicts of interest; |
■ | the governance of the Funds; |
■ | the Funds' brokerage practices; |
■ | the share classes offered by the Funds; |
■ | the purchase, redemption and pricing of Fund shares; and |
■ | the application of U.S. federal income tax laws. |
1933 Act | Securities Act of 1933, as amended |
1934 Act | Securities Exchange Act of 1934, as amended |
1940 Act | Investment Company Act of 1940, as amended |
Active Portfolio Funds | AP – Alternative Strategies Fund, AP – Core Plus Bond Fund, AP – Growth Fund and AP – Small Cap Equity Fund |
Administrative Services Agreement | The Administrative Services Agreement, as amended, if applicable, between a Trust, on behalf of the Funds, and the Investment Manager |
Ameriprise Financial | Ameriprise Financial, Inc. |
AQR | AQR Capital Management, LLC |
BANA | Bank of America, National Association |
Bank of America | Bank of America Corporation |
BFDS/DST | Boston Financial Data Services, Inc./DST Systems, Inc. |
BMO | BMO Asset Management Corp. |
Board | The Trust's Board of Trustees |
Business Day | Any day on which the NYSE is open for business |
CEA | Commodity Exchange Act |
CFST | Columbia Funds Series Trust |
CFST I | Columbia Funds Series Trust I |
CFST II | Columbia Funds Series Trust II |
CFTC | The United States Commodities Futures Trading Commission |
CMOs | Collateralized mortgage obligations |
Code | Internal Revenue Code of 1986, as amended |
Statement of Additional Information – December 1, 2015 | 2 |
Table of Contents
Codes of Ethics | The codes of ethics adopted by the Funds, the Investment Manager, the Distributor and/or any sub-adviser, as applicable, pursuant to Rule 17j-1 under the 1940 Act |
Columbia Funds Complex | The fund complex that is comprised of the registered investment companies advised by the Investment Manager or its affiliates |
Columbia Funds or Columbia Fund Family | The open-end investment management companies, including the Funds, advised by the Investment Manager or its affiliates or principally underwritten by the Distributor |
Columbia Management | Columbia Management Investment Advisers, LLC |
Conestoga | Conestoga Capital Advisors, LLC |
Custodian | JPMorgan Chase Bank, N.A. |
CVP – Managed Volatility Funds | Columbia Variable Portfolio – Managed Volatility Conservative Fund, Columbia Variable Portfolio – Managed Volatility Conservative Growth Fund, Columbia Variable Portfolio – Managed Volatility Growth Fund and Columbia Variable Portfolio – Managed Volatility Moderate Growth Fund |
DGHM | Dalton, Greiner, Hartman, Maher & Co., LLC |
Distribution Agreement | The Distribution Agreement between the Trust, on behalf of the Funds, and the Distributor |
Distribution Plan(s) | One or more of the plans adopted by the Board pursuant to Rule 12b-1 under the 1940 Act for the distribution of the Funds’ shares |
Distributor | Columbia Management Investment Distributors, Inc. |
EAM | EAM Investors, LLC |
FDIC | Federal Deposit Insurance Corporation |
Federated | Federated Investment Management Company |
FHLMC | The Federal Home Loan Mortgage Corporation |
Fitch | Fitch, Inc. |
FNMA | Federal National Mortgage Association |
The Fund(s) or a Fund | One or more of the open-end management investment companies listed on the front cover of this SAI |
GNMA | Government National Mortgage Association |
Independent Trustees | The Trustees of the Board who are not “interested persons” (as defined in the 1940 Act) of the Funds |
Interested Trustees | The Trustees of the Board who are currently treated as “interested persons” (as defined in the 1940 Act) of the Funds |
Investment Management Services Agreement | The Investment Management Services Agreement, as amended, if applicable, between the Trust, on behalf of the Funds, and the Investment Manager |
Investment Manager | Columbia Management Investment Advisers, LLC |
IRS | United States Internal Revenue Service |
JPMorgan | JPMorgan Chase Bank, N.A., the Funds' custodian |
LIBOR | London Interbank Offered Rate |
Loomis Sayles | Loomis, Sayles & Company, L.P. |
Management Agreement | The Management Agreements, as amended, if applicable, between the Trust, on behalf of the Funds, and the Investment Manager |
Moody’s | Moody’s Investors Service, Inc. |
NASDAQ | National Association of Securities Dealers Automated Quotations system |
NAV | Net asset value per share of a Fund |
NRSRO | Nationally recognized statistical ratings organization (such as, for example, Moody’s, Fitch or S&P) |
NSCC | National Securities Clearing Corporation |
Statement of Additional Information – December 1, 2015 | 3 |
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NYSE | New York Stock Exchange |
Previous Adviser | Columbia Management Advisors, LLC, the investment adviser of certain Columbia Funds prior to May 1, 2010 when Ameriprise Financial acquired the long-term asset management business of the Previous Adviser, which is an indirect wholly-owned subsidiary of Bank of America. |
Previous Distributor | Columbia Management Distributors, Inc., the distributor of certain Columbia Funds prior to May 1, 2010 when Ameriprise Financial acquired the long-term asset management business of the Previous Adviser, which is an indirect wholly-owned subsidiary of Bank of America. |
Previous Transfer Agent | Columbia Management Services, Inc., the transfer agent of certain Columbia Funds prior to May 1, 2010 when Ameriprise Financial acquired the long-term asset management business of the Previous Adviser, which is an indirect wholly-owned subsidiary of Bank of America. |
REIT | Real estate investment trust |
REMIC | Real estate mortgage investment conduit |
RIC | A “regulated investment company,” as such term is used in the Code |
S&P | Standard & Poor’s, a division of The McGraw-Hill Companies, Inc. (“Standard & Poor’s” and “S&P” are trademarks of The McGraw-Hill Companies, Inc. and have been licensed for use by the Investment Manager. The Columbia Funds are not sponsored, endorsed, sold or promoted by Standard & Poor’s and Standard & Poor’s makes no representation regarding the advisability of investing in the Columbia Funds) |
SAI | This Statement of Additional Information, as amended and supplemented from time-to-time |
SEC | United States Securities and Exchange Commission |
Selling Agent(s) | One or more of the financial intermediaries that are authorized to sell shares of the Funds, which include, broker-dealers and financial advisors as well as firms that employ such broker-dealers and financial advisors, including, for example, brokerage firms, banks, investment advisors, third party administrators and other financial intermediaries, including Ameriprise Financial and its affiliates. |
Shares | Shares of a Fund |
State Street | State Street Bank and Trust Company, the Funds' former custodian |
Sub-Advisory Agreement | The Subadvisory Agreement among the Trust on behalf of the Fund(s), the Investment Manager and a Fund’s investment subadviser(s), as the context may require |
Subsidiary | One or more wholly-owned subsidiaries of a Fund |
TCW | TCW Investment Management Company |
Threadneedle | Threadneedle International Limited |
Transfer Agency Agreement | The Transfer and Dividend Disbursing Agent Agreement between the Trust, on behalf of the Funds, and the Transfer Agent |
Transfer Agent | Columbia Management Investment Services Corp. |
Trustee(s) | One or more of the Board’s Trustees |
Trust | Columbia Funds Series Trust I, the registered investment company in the Columbia Fund Family to which this SAI relates |
Wasatch | Wasatch Advisors, Inc. |
Water Island | Water Island Capital, LLC |
Statement of Additional Information – December 1, 2015 | 4 |
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Fund Name: | Referred to as: | |
Active Portfolios® Multi-Manager Alternative Strategies Fund | AP – Alternative Strategies Fund | |
Active Portfolios® Multi-Manager Core Plus Bond Fund | AP – Core Plus Bond Fund | |
Active Portfolios® Multi-Manager Growth Fund | AP – Growth Fund | |
Active Portfolios® Multi-Manager Small Cap Equity Fund | AP – Small Cap Equity Fund | |
CMG Ultra Short Term Bond Fund | Ultra Short Term Bond Fund | |
Columbia Adaptive Alternatives Fund | Adaptive Alternatives Fund | |
Columbia Adaptive Risk Allocation Fund | Adaptive Risk Allocation Fund | |
Columbia AMT-Free Connecticut Intermediate Muni Bond Fund | AMT-Free CT Intermediate Muni Bond Fund | |
Columbia AMT-Free Intermediate Muni Bond Fund | AMT-Free Intermediate Muni Bond Fund | |
Columbia AMT-Free Massachusetts Intermediate Muni Bond Fund | AMT-Free MA Intermediate Muni Bond Fund | |
Columbia AMT-Free New York Intermediate Muni Bond Fund | AMT-Free NY Intermediate Muni Bond Fund | |
Columbia AMT-Free Oregon Intermediate Muni Bond Fund | AMT-Free OR Intermediate Muni Bond Fund | |
Columbia Balanced Fund | Balanced Fund | |
Columbia Bond Fund | Bond Fund | |
Columbia California Tax-Exempt Fund | CA Tax-Exempt Fund | |
Columbia Contrarian Core Fund | Contrarian Core Fund | |
Columbia Corporate Income Fund | Corporate Income Fund | |
Columbia Diversified Absolute Return Fund | Diversified Absolute Return Fund | |
Columbia Diversified Real Return Fund | Diversified Real Return Fund | |
Columbia Dividend Income Fund | Dividend Income Fund | |
Columbia Emerging Markets Fund | Emerging Markets Fund | |
Columbia Global Dividend Opportunity Fund | Global Dividend Opportunity Fund | |
Columbia Global Energy and Natural Resources Fund | Global Energy and Natural Resources Fund | |
Columbia Global Inflation-Linked Bond Plus Fund | Global ILB Plus Fund | |
Columbia Global Technology Growth Fund | Global Technology Growth Fund | |
Columbia Global Unconstrained Bond Fund | Global Unconstrained Bond Fund | |
Columbia Greater China Fund | Greater China Fund | |
Columbia High Yield Municipal Fund | HY Municipal Fund | |
Columbia Intermediate Bond Fund | Intermediate Bond Fund | |
Columbia Large Cap Growth Fund | Large Cap Growth Fund | |
Columbia Mid Cap Growth Fund | Mid Cap Growth Fund | |
Columbia Multi-Asset Income Fund | Multi-Asset Income Fund | |
Columbia New York Tax-Exempt Fund | NY Tax-Exempt Fund | |
Columbia Pacific/Asia Fund | Pacific/Asia Fund | |
Columbia Real Estate Equity Fund | Real Estate Equity Fund | |
Columbia Select Large Cap Growth Fund | Select Large Cap Growth Fund | |
Columbia Small Cap Core Fund | Small Cap Core Fund | |
Columbia Small Cap Growth Fund I | Small Cap Growth Fund I | |
Columbia Small Cap Value Fund I | Small Cap Value Fund I | |
Columbia Strategic Income Fund | Strategic Income Fund | |
Columbia Tax-Exempt Fund | Tax-Exempt Fund | |
Columbia U.S. Social Bond Fund | U.S. Social Bond Fund | |
Columbia U.S. Treasury Index Fund | U.S. Treasury Index Fund |
Statement of Additional Information – December 1, 2015 | 5 |
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Fund Name: | Referred to as: | |
Columbia Value and Restructuring Fund | Value and Restructuring Fund |
Statement of Additional Information – December 1, 2015 | 6 |
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Fund | Fiscal Year End | Prospectus Date | Date Began Operations* | Diversified** | Fund Investment Category*** |
Adaptive Alternatives Fund | May 31 | 10/1/2015 | 1/28/2015 | No | Alternative |
Adaptive Risk Allocation Fund | May 31 | 10/1/2015 | 6/19/2012 | No | Alternative |
AMT-Free CT Intermediate Muni Bond Fund | October 31 | 3/1/2015 | 8/1/1994 | No | Tax-exempt fixed-income |
AMT-Free Intermediate Muni Bond Fund | October 31 | 3/1/2015 | 6/14/1993 | Yes | Tax-exempt fixed-income |
AMT-Free MA Intermediate Muni Bond Fund | October 31 | 3/1/2015 | 6/14/1993 | No | Tax-exempt fixed-income |
AMT-Free NY Intermediate Muni Bond Fund | October 31 | 3/1/2015 | 12/31/1991 | No | Tax-exempt fixed-income |
AMT-Free OR Intermediate Muni Bond Fund | July 31 | 12/1/2015 | 7/2/1984 | Yes | Tax-exempt fixed-income |
AP – Alternative Strategies Fund | August 31 | 1/1/2015 | 4/23/2012 | No | Alternative |
AP – Core Plus Bond Fund | August 31 | 1/1/2015 | 4/20/2012 | Yes | Taxable fixed-income |
AP – Growth Fund | March 31 | 8/1/2015 | 4/20/2012 | Yes | Equity |
AP – Small Cap Equity Fund | August 31 | 1/1/2015 | 4/20/2012 | Yes | Equity |
Balanced Fund | August 31 | 1/1/2015 | 10/1/1991 | Yes | Equity/Taxable fixed-income |
Bond Fund | April 30 | 9/1/2015 | 1/9/1986 | Yes | Taxable fixed-income |
CA Tax-Exempt Fund | October 31 | 3/1/2015 | 6/16/1986 | No | Tax-exempt fixed-income |
Contrarian Core Fund | August 31(a) | 1/1/2015 | 12/14/1992 | Yes | Equity |
Corporate Income Fund | April 30 | 9/1/2015 | 3/5/1986 | Yes | Taxable fixed-income |
Diversified Absolute Return Fund | May 31 | 10/1/2015 | 2/19/2015 | Yes | Alternative |
Diversified Real Return Fund | January 31 | 6/1/2015 | 3/11/2014 | Yes | Fund-of-funds-fixed income |
Dividend Income Fund | May 31 | 10/1/2015 | 3/4/1998 | Yes | Equity |
Emerging Markets Fund | August 31(b) | 1/1/2015 | 1/2/1998 | Yes | Equity |
Global Dividend Opportunity Fund | August 31 | 1/1/2015 | 11/9/2000 | Yes | Equity |
Global Energy and Natural Resources Fund | August 31(b) | 1/1/2015 | 12/31/1992 | No | Equity |
Global ILB Plus Fund | July 31 | 12/1/2015 | 3/12/2014 | No | Taxable fixed-income |
Global Technology Growth Fund | August 31 | 1/1/2015 | 11/9/2000 | No | Equity |
Global Unconstrained Bond Fund | October 31 | 6/30/2015 | 6/30/2015 | Yes | Taxable fixed-income |
Greater China Fund | August 31 | 1/1/2015 | 5/16/1997 | No | Equity |
HY Municipal Fund | May 31 | 10/1/2015 | 3/5/1984 | Yes | Tax-exempt fixed-income |
Intermediate Bond Fund | April 30 | 9/1/2015 | 12/5/1978 | Yes | Taxable fixed-income |
Large Cap Growth Fund | July 31 | 12/1/2015 | 12/14/1990 | Yes | Equity |
Mid Cap Growth Fund | August 31 | 1/1/2015 | 11/20/1985 | Yes | Equity |
Multi-Asset Income Fund | April 30 | 9/1/2015 | 3/27/2015 | Yes | Flexible |
NY Tax-Exempt Fund | October 31 | 3/1/2015 | 9/26/1986 | No | Tax-exempt fixed-income |
Pacific/Asia Fund | March 31 | 8/1/2015 | 12/31/1992 | Yes | Equity |
Statement of Additional Information – December 1, 2015 | 7 |
Table of Contents
Fund | Fiscal Year End | Prospectus Date | Date Began Operations* | Diversified** | Fund Investment Category*** |
Real Estate Equity Fund | December 31 | 5/1/2015 | 4/1/1994 | No | Equity |
Select Large Cap Growth Fund | March 31 | 8/1/2015 | 10/1/1997 | Yes | Equity |
Small Cap Core Fund | August 31(a) | 1/1/2015 | 12/14/1992 | Yes | Equity |
Small Cap Growth Fund I | August 31 | 1/1/2015 | 10/1/1996 | Yes | Equity |
Small Cap Value Fund I | April 30 | 9/1/2015 | 7/25/1986 | Yes | Equity |
Strategic Income Fund | October 31(c) | 3/1/2015 | 4/21/1977 | Yes | Taxable fixed-income |
Tax-Exempt Fund | July 31 | 12/1/2015 | 11/21/1978 | Yes | Tax-exempt fixed-income |
U.S. Social Bond Fund | July 31 | 12/1/2015 | 3/26/2015 | No | Tax-exempt fixed-income |
U.S. Treasury Index Fund | April 30 | 9/1/2015 | 6/4/1991 | Yes | Taxable fixed-income |
Ultra Short Term Bond Fund | July 31 | 12/1/2015 | 3/8/2004 | Yes | Taxable fixed-income |
Value and Restructuring Fund | August 31(b) | 1/1/2015 | 12/31/1992 | Yes | Equity |
* | Certain Funds reorganized into series of the Trust. The date of operations for these Funds represents the date on which the predecessor funds began operation. |
** | A “diversified” Fund may not, with respect to 75% of its total assets, invest more than 5% of its total assets in securities of any one issuer or purchase more than 10% of the outstanding voting securities of any one issuer, except obligations issued or guaranteed by the U.S. Government, its agencies or instrumentalities and except securities of other investment companies. A “non-diversified” Fund may invest a greater percentage of its total assets in the securities of fewer issuers than a “diversified” fund, which increases the risk that a change in the value of any one investment held by the Fund could affect the overall value of the Fund more than it would affect that of a “diversified” fund holding a greater number of investments. Accordingly, a “non-diversified” Fund’s value will likely be more volatile than the value of a more diversified fund. |
*** | The Fund Investment Category is used as a convenient way to describe Funds in this SAI and should not be deemed a description of the Fund’s principal investment strategies, which are described in the Fund’s prospectus. |
(a) | Contrarian Core Fund and Small Cap Core Fund changed their fiscal year ends in 2012 from September 30 to August 31. |
(b) | Emerging Markets Fund, Global Energy and Natural Resources Fund and Value and Restructuring Fund changed their fiscal year ends in 2012 from March 31 to August 31. |
(c)) | Strategic Income Fund changed its fiscal year end in 2012 from May 31 to October 31. |
Statement of Additional Information – December 1, 2015 | 8 |
Table of Contents
Fund | Effective Date of Name Change | Previous Fund Name |
Adaptive Risk Allocation | October 1, 2014 | Columbia Risk Allocation Fund |
AMT-Free CT Intermediate Muni Bond Fund | July 7, 2014 | Columbia Connecticut Intermediate Municipal Bond Fund |
AMT-Free Intermediate Muni Bond Fund | July 7, 2014 | Columbia Intermediate Municipal Bond Fund |
AMT-Free MA Intermediate Muni Bond Fund | July 7, 2014 | Columbia Massachusetts Intermediate Municipal Bond Fund |
AMT-Free NY Intermediate Muni Bond Fund | July 7, 2014 | Columbia New York Intermediate Municipal Bond Fund |
AMT-Free OR Intermediate Muni Bond Fund | July 7, 2014 | Columbia Oregon Intermediate Muni Bond Fund |
AP – Growth Fund | December 11, 2013 | Columbia Active Portfolios® – Select Large Cap Growth Fund |
Global Dividend Opportunity Fund | August 17, 2012 | Columbia Strategic Investor Fund |
Global Energy and Natural Resources Fund | August 5, 2013 | Columbia Energy and Natural Resources Fund |
Global Technology Growth Fund | July 7, 2014 | Columbia Technology Fund |
Statement of Additional Information – December 1, 2015 | 9 |
Table of Contents
Fund | A Buy or sell real estate | B Buy or sell commodities | C Issuer Diversification | D Concentrate in any one industry | E Invest 80% | F Act as an underwriter | G Lending | H Borrow money | I Issue senior securities |
Adaptive Alternatives Fund | A2 | B4 | — | D6 | — | F2 | G2 | H2 | I2 |
Adaptive Risk Allocation Fund | A1 | B1 | — | D1 | — | F1 | G1 | H1 | I1 |
AMT-Free CT Intermediate Muni Bond Fund | A1 | B1 | — | D1 | E2 | F1 | G1 | H1 | I1 |
AMT-Free Intermediate Muni Bond Fund | A1 | B1 | C1 | D1 | E3 | F1 | G1 | H1 | I1 |
AMT-Free MA Intermediate Muni Bond Fund | A1 | B1 | — | D1 | E4 | F1 | G1 | H1 | I1 |
AMT-Free NY Intermediate Muni Bond Fund | A1 | B1 | — | D1 | E5 | F1 | G1 | H1 | I1 |
AMT-Free OR Intermediate Muni Bond Fund | A1 | B1 | C3 | D1 | E6 | F1 | G1 | H1 | I1 |
AP – Alternative Strategies Fund | A1 | B2 | — | D1 | — | F1 | G1 | H1 | I1 |
AP – Core Plus Bond Fund | A1 | B1 | C1 | D1 | — | F1 | G1 | H1 | I1 |
AP – Growth Fund | A1 | B1 | C1 | D1 | — | F1 | G1 | H1 | I1 |
AP – Small Cap Equity Fund | A1 | B1 | C1 | D1 | — | F1 | G1 | H1 | I1 |
Balanced Fund | A1 | B1 | C1 | D1 | — | F1 | G1 | H1 | I1 |
Bond Fund | A1 | B1 | C1 | D1 | — | F1 | G1 | H1 | I1 |
CA Tax-Exempt Fund | A1 | B1 | — | D1 | E1 | F1 | G1 | H1 | I1 |
Contrarian Core Fund | A1 | B1 | C1 | D1 | — | F1 | G1 | H1 | I1 |
Corporate Income Fund | A1 | B1 | C1 | D1 | — | F1 | G1 | H1 | I1 |
Diversified Absolute Return Fund | A2 | B4 | C4 | D6 | — | F2 | G2 | H2 | I2 |
Diversified Real Return Fund | A1 | B3 | C1 | D5 | — | F1 | G1 | H1 | I1 |
Dividend Income Fund | A1 | B1 | C1 | D1 | — | F1 | G1 | H1 | I1 |
Emerging Markets Fund | A1 | B1 | C1 | D1 | — | F1 | G1 | H1 | I1 |
Global Dividend Opportunity Fund | A1 | B1 | C1 | D1 | — | F1 | G1 | H1 | I1 |
Statement of Additional Information – December 1, 2015 | 10 |
Table of Contents
Fund | A Buy or sell real estate | B Buy or sell commodities | C Issuer Diversification | D Concentrate in any one industry | E Invest 80% | F Act as an underwriter | G Lending | H Borrow money | I Issue senior securities |
Global Energy and Natural Resources Fund | A1 | B1 | — | D2 | — | F1 | G1 | H1 | I1 |
Global ILB Plus Fund | A1 | B3 | — | D5 | — | F1 | G1 | H1 | I1 |
Global Technology Growth Fund | A1 | B1 | — | D4 | E9 | F1 | G1 | H1 | I1 |
Global Unconstrained Bond Fund | A2 | B5 | C5 | D7 | — | F2 | G3 | H3 | I3 |
Greater China Fund | A1 | B1 | C2 | D1 | — | F1 | G1 | H1 | I1 |
HY Municipal Fund | A1 | B1 | C1 | D1 | — | F1 | G1 | H1 | I1 |
Intermediate Bond Fund | A1 | B1 | C1 | D1 | — | F1 | G1 | H1 | I1 |
Large Cap Growth Fund | A1 | B1 | C1 | D1 | — | F1 | G1 | H1 | I1 |
Mid Cap Growth Fund | A1 | B1 | C1 | D1 | — | F1 | G1 | H1 | I1 |
Multi-Asset Income Fund | A2 | B4 | C4 | D6 | — | F2 | G2 | H2 | I2 |
NY Tax-Exempt Fund | A1 | B1 | — | D1 | E1 | F1 | G1 | H1 | I1 |
Pacific/Asia Fund | A1 | B1 | C1 | D1 | — | F1 | G1 | H1 | I1 |
Real Estate Equity Fund | A1 | B1 | — | D3 | E7 | F1 | G1 | H1 | I1 |
Select Large Cap Growth Fund | A1 | B1 | C1 | D1 | — | F1 | G1 | H1 | I1 |
Small Cap Core Fund | A1 | B1 | C1 | D1 | — | F1 | G1 | H1 | I1 |
Small Cap Growth Fund I | A1 | B1 | C1 | D1 | — | F1 | G1 | H1 | I1 |
Small Cap Value Fund I | A1 | B1 | C1 | D1 | — | F1 | G1 | H1 | I1 |
Strategic Income Fund | A1 | B1 | C1 | D1 | — | F1 | G1 | H1 | I1 |
Tax-Exempt Fund | A1 | B1 | C1 | D1 | E8 | F1 | G1 | H1 | I1 |
U.S. Social Bond Fund | A2 | B4 | — | D6 | — | F2 | G2 | H2 | I2 |
U.S. Treasury Index Fund | A1 | B1 | C1 | D1 | — | F1 | G1 | H1 | I1 |
Ultra Short Term Bond Fund | A1 | B1 | C1 | D1 | — | F1 | G1 | H1 | I1 |
Value and Restructuring Fund | A1 | B1 | C1 | D1 | — | F1 | G1 | H1 | I1 |
A. | Buy or sell real estate |
A1 – | The Fund may not purchase or sell real estate, except each Fund may: (i) purchase securities of issuers which deal or invest in real estate, (ii) purchase securities which are secured by real estate or interests in real estate and (iii) hold and dispose of real estate or interests in real estate acquired through the exercise of its rights as a holder of securities which are secured by real estate or interests therein. |
A2 – | The Fund will not buy or sell real estate, unless acquired as a result of ownership of securities or other instruments, except this shall not prevent the Fund from investing in: (i) securities or other instruments backed by real estate or interests in real estate, (ii) securities or other instruments of issuers or entities that deal in real estate or are engaged in the real estate business, (iii) real estate investment trusts (REITs) or entities similar to REITs formed under the laws of non-U.S. countries or (iv) real estate or interests in real estate acquired through the exercise of its rights as a holder of securities secured by real estate or interests therein. |
B. | Buy or sell physical commodities |
B1 – | The Fund may not purchase or sell commodities, except that each Fund may to the extent consistent with its investment objective: (i) invest in securities of companies that purchase or sell commodities or which invest in such programs, (ii) purchase and sell options, forward contracts, futures contracts, and options on futures contracts and (iii) enter into swap contracts and other financial transactions relating to commodities.(a) This limitation does not apply to foreign currency transactions including without limitation forward currency contracts. |
B2 – | The Fund may invest up to 25% of its total assets in one or more wholly-owned subsidiaries that may invest in commodities, thereby indirectly gaining exposure to commodities, and may, to the extent consistent with its investment objective, (i) invest in securities of companies that purchase or sell commodities or which invest in such programs, (ii) purchase and sell options, forward contracts, futures contracts, and options on futures contracts and (iii) enter into swap contracts and other financial transactions relating to commodities.(a) This policy does not limit foreign currency transactions including without limitation forward currency contracts. |
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B3 – | The Fund will not purchase or sell commodities, except to the extent permitted by applicable law from time to time. |
B4 – | The Fund will not purchase or sell commodities, except to the extent permitted by the 1940 Act, the rules and regulations thereunder and any applicable exemptive relief, as interpreted or modified by regulatory authority having jurisdiction, from time to time. |
B5 – | The Fund will not purchase or sell commodities, except to the extent permitted by the 1940 Act, the rules and regulations thereunder and any applicable exemptive relief. |
(a) | For purposes of the fundamental investment policy on buying and selling physical commodities above, at the time of the establishment of the restriction for certain Funds, swap contracts on financial instruments or rates were not within the understanding of the term “commodities.” Notwithstanding any federal legislation or regulatory action by the CFTC that subjects such swaps to regulation by the CFTC, these Funds will not consider such instruments to be commodities for purposes of this restriction. |
C. | Issuer Diversification* |
C1 – | The Fund may not purchase securities (except securities issued or guaranteed by the U.S. Government, its agencies or instrumentalities) of any one issuer if, as a result, more than 5% of its total assets will be invested in the securities of such issuer or it would own more than 10% of the voting securities of such issuer, except that: (i) up to 25% of its total assets may be invested without regard to these limitations and (ii) a Fund’s assets may be invested in the securities of one or more management investment companies to the extent permitted by the 1940 Act, the rules and regulations thereunder, or any applicable exemptive relief. |
C2 – | The Fund may not, as a matter of fundamental policy, purchase securities (except securities issued or guaranteed by the U.S. Government, its agencies or instrumentalities) of any one issuer if, as a result, more than 5% of its total assets will be invested in the securities of such issuer or it would own more than 10% of the voting securities of such issuer, except that: (i) up to 50% of its total assets may be invested without regard to these limitations and (ii) the Fund’s assets may be invested in the securities of one or more management investment companies to the extent permitted by the 1940 Act, the rules and regulations thereunder, or any applicable exemptive relief. |
C3 – | The Fund will not make any investment inconsistent with its classification as a diversified company under the 1940 Act. |
C4 – | The Fund will not purchase securities (except securities issued or guaranteed by the U.S. Government, its agencies or instrumentalities) of any one issuer if, as a result, more than 5% of its total assets will be invested in the securities of such issuer or it would own more than 10% of the voting securities of such issuer, except that: (a) up to 25% of its total assets may be invested without regard to these limitations; and (b) a Fund’s assets may be invested in the securities of one or more management investment companies to the extent permitted by the 1940 Act, the rules and regulations thereunder, or any applicable exemptive relief, as interpreted or modified by regulatory authority having jurisdiction, from time to time. |
C5 – | The Fund will not purchase securities (except securities issued or guaranteed by the U.S. Government, its agencies or instrumentalities) of any one issuer if, as a result, more than 5% of its total assets will be invested in the securities of such issuer or it would own more than 10% of the voting securities of such issuer, except that: (a) up to 25% of its total assets may be invested without regard to these limitations; and (b) a Fund’s assets may be invested in the securities of one or more management investment companies to the extent permitted by the 1940 Act, the rules and regulations thereunder, or any applicable exemptive relief. |
* | For purposes of applying the limitation set forth in its issuer diversification policy above, a Fund does not consider futures or swaps central counterparties, where the Fund has exposure to such central counterparties in the course of making investments in futures and securities, to be issuers. |
D. | Concentration* |
D1 – | The Fund may not purchase any securities which would cause 25% or more of the value of its total assets at the time of purchase to be invested in the securities of one or more issuers conducting their principal business activities in the same industry, provided that: (i) there is no limitation with respect to obligations issued or guaranteed by the U.S. Government, any state or territory of the United States or any of their agencies, instrumentalities or political subdivisions; and (ii) notwithstanding this limitation or any other fundamental investment limitation, assets may be invested in the securities of one or more management investment companies or subsidiaries to the extent permitted by the 1940 Act, the rules and regulations thereunder and any applicable exemptive relief. |
D2 – | The Fund may not purchase any securities which would cause 25% or more of the value of its total assets at the time of purchase to be invested in the securities of one or more issuers conducting their principal business activities in the same industry, provided that: (i) there is no limitation with respect to obligations issued or guaranteed by the U.S. Government, any state or territory of the United States or any of their agencies, instrumentalities or political |
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subdivisions; (ii) notwithstanding this limitation or any other fundamental investment limitation, assets may be invested in the securities of one or more management investment companies or subsidiaries to the extent permitted by the 1940 Act, the rules and regulations thereunder and any applicable exemptive relief; and (iii) under normal market conditions, the Fund will invest at least 25% of the value of its total assets at the time of purchase in the securities of issuers conducting their principal business activities in the energy and other natural resources groups of industries.(a) | |
D3 – | The Fund will invest at least 65% of the value of its total assets in securities of companies principally engaged in the real estate industry. |
D4 – | The Fund will, under normal market conditions, invest at least 25% of the value of its total assets at the time of purchase in the securities of issuers conducting their principal business activities in the technology and related group of industries, provided that: (i) there is no limitation with respect to obligations issued or guaranteed by the U.S. Government, any state or territory of the United States or any of their agencies, instrumentalities or political subdivisions; and (ii) notwithstanding this limitation or any other fundamental investment limitation, assets may be invested in the securities of one or more management investment companies or subsidiaries to the extent permitted by the 1940 Act, the rules and regulations thereunder and any applicable exemptive relief. |
D5 – | The Fund may not purchase any securities which would cause 25% or more of the value of its total assets at the time of purchase to be invested in the securities of one or more issuers conducting their principal business activities in the same industry, provided that: (i) there is no limitation with respect to obligations issued or guaranteed by the U.S. Government, any state, municipality or territory of the United States, or any of their agencies, instrumentalities or political subdivisions; and (ii) notwithstanding this limitation or any other fundamental investment limitation, assets may be invested in the securities of one or more management investment companies or subsidiaries to the extent permitted by the 1940 Act, the rules and regulations thereunder and any applicable exemptive relief. The Fund will consider the concentration policies of any underlying funds in which it invests when evaluating compliance with its concentration policy. |
D6 – | The Fund will not purchase any securities which would cause 25% or more of the value of its total assets at the time of purchase to be invested in the securities of one or more issuers conducting their principal business activities in the same industry, provided that: (i) there is no limitation with respect to obligations issued or guaranteed by the U.S. Government, any state, municipality or territory of the United States or any of their agencies, instrumentalities or political subdivisions; and (ii) notwithstanding this limitation or any other fundamental investment limitation, assets may be invested in the securities of one or more investment companies or subsidiaries to the extent permitted by the 1940 Act, the rules and regulations thereunder and any applicable exemptive relief, as interpreted or modified by regulatory authority having jurisdiction, from time to time. The Fund will consider the concentration policies of any underlying funds in which it invests when evaluating compliance with its concentration policy. |
D7 – | The Fund will not purchase any securities which would cause 25% or more of the value of its total assets at the time of purchase to be invested in the securities of one or more issuers conducting their principal business activities in the same industry, provided that: (i) there is no limitation with respect to obligations issued or guaranteed by the U.S. Government, any state or territory of the United States or any of their agencies, instrumentalities or political subdivisions; and (ii) notwithstanding this limitation or any other fundamental investment limitation, assets may be invested in the securities of one or more investment companies or subsidiaries to the extent permitted by the 1940 Act, the rules and regulations thereunder and any applicable exemptive relief. |
* | For purposes of applying the limitation set forth in its concentration policy, above, a Fund will generally use the industry classifications provided by the Global Industry Classification System (GICS) for classification of issuers of equity securities and the classifications provided by the Barclays Capital Aggregate Bond Index for classification of issues of fixed-income securities. To the extent that a Fund’s concentration policy requires the Fund to consider the concentration policies of any underlying funds in which it invests, the Fund will consider, in the case of unaffiliated underlying funds, the portfolio positions at the time of purchase of such unaffiliated underlying funds based on portfolio information made publicly available by them. The Fund does not consider futures or swaps clearinghouses or securities clearinghouses, where the Fund has exposure to such clearinghouses in the course of making investments in futures and securities, to be part of any industry. |
(a) | In determining whether Global Energy and Natural Resources Fund has invested at least 25% of the value of its total assets in the securities of one or more issuers conducting their principal business activities in the energy and other natural resources groups of industries, the Investment Manager currently uses the GICS produced by S&P and MSCI Inc. The Investment Manager currently considers companies in each of the indicated GICS industry groups to be within the energy and other natural resources groups of industries: (i) Energy, (ii) Utilities, and (iii) Materials, but limited to companies in the following GICS industries and sub-industries: the Chemicals industry (companies that primarily produce or distribute industrial and basic chemicals, including the Commodity Chemicals, Diversified Chemicals, Fertilizers & Agriculture Chemicals, Industrial Gases, and Specialty Chemicals sub-industries), the Metals & Mining industry (companies that primarily produce, process, extract, or distribute precious or basic metals or minerals, including the Aluminum, Diversified Metals & Mining, Gold, Precious Metals & Minerals, and Steel sub-industries), and the Paper & Forest Products industry (companies that primarily cultivate or manufacture timber or wood-related products or paper products, including the Forest Products and Paper Products sub-industries). |
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E. | Invest 80% |
E1 – | The Fund will, under normal circumstances, invest at least 80% of its total assets in state bonds, subject to applicable state requirements. |
E2 – | Under normal circumstances, the Fund invests at least 80% of net assets in municipal securities that pay interest exempt from federal income tax (including the federal alternative minimum tax) and Connecticut individual income tax. These securities are issued by the State of Connecticut and its political subdivisions, agencies, authorities and instrumentalities, by other qualified issuers (such as Guam, Puerto Rico and the U.S. Virgin Islands) and by mutual funds that invest in such securities. Dividends derived from interest on municipal securities other than such securities will generally be exempt from regular federal income tax (including the federal alternative minimum tax) but subject to Connecticut personal income tax. The Fund may comply with this 80% policy by investing in a partnership, trust or regulated investment company which invests in such securities, in which case the Fund’s investment in such entity shall be deemed to be an investment in the underlying securities in the same proportion as such entity’s investment in such securities bears to its net assets. |
E3 – | As a matter of fundamental policy, under normal circumstances, the Fund invests at least 80% of net assets in municipal securities that pay interest exempt from federal income tax (including the federal alternative minimum tax). These securities are issued by states and their political subdivisions, agencies, authorities and instrumentalities, by other qualified issuers (such as Guam, Puerto Rico and the U.S. Virgin Islands) and by mutual funds that invest in such securities. The Fund may comply with this 80% policy by investing in a partnership, trust, or regulated investment company which invests in such securities, in which case the Fund’s investment in such entity shall be deemed to be an investment in the underlying securities in the same proportion as such entity’s investment in such securities bears to its net assets. |
E4 – | Under normal circumstances, the Fund invests at least 80% of net assets in municipal securities that pay interest exempt from federal income tax (including the federal alternative minimum tax) and Massachusetts individual income tax. These securities are issued by the Commonwealth of Massachusetts and its political subdivisions, agencies, authorities and instrumentalities, by other qualified issuers (such as Guam, Puerto Rico and the U.S. Virgin Islands) and by mutual funds that invest in such securities. Dividends derived from interest on municipal securities other than such securities will generally be exempt from regular federal income tax (including the federal alternative minimum tax) but may be subject to Massachusetts personal income tax. The Fund may comply with this 80% policy by investing in a partnership, trust, or regulated investment company which invests in such securities, in which case the Fund’s investment in such entity shall be deemed to be an investment in the underlying securities in the same proportion as such entity’s investment in such securities bears to its net assets. |
E5 – | As a matter of fundamental policy, under normal circumstances, the Fund invests at least 80% of net assets in municipal securities that pay interest exempt from federal income tax (including the federal alternative minimum tax) and New York State individual income tax. These securities are issued by the State of New York and its political subdivisions, agencies, authorities and instrumentalities and by other qualified issuers (such as Guam, Puerto Rico and the U.S. Virgin Islands). Dividends derived from interest on municipal securities other than such securities will generally be exempt from regular federal income tax (including the federal alternative minimum tax) but may be subject to New York State and New York City personal income tax. The Fund may comply with this 80% policy by investing in a partnership, trust or regulated investment company which invests in such securities, in which case the Fund’s investment in such entity shall be deemed to be an investment in the underlying securities in the same proportion as such entity’s investment in such securities bears to its net assets. |
E6 – | Under normal circumstances, the Fund invests at least 80% of its net assets in municipal securities issued by the State of Oregon and its political subdivisions, agencies, authorities and instrumentalities. |
E7 – | Under normal circumstances, the Fund invests at least 80% of its net assets in equity securities of companies principally engaged in the real estate industry, including REITs. |
E8 – | Under normal circumstances, the Fund invests at least 80% of its total assets in tax-exempt bonds. |
E9 – | Under normal circumstances, the Fund invests at least 80% of net assets in equity securities (including, but not limited to, common stocks, preferred stocks and securities convertible into common or preferred stocks) of technology companies that may benefit from technological improvements, advancements or developments. |
F. | Act as an underwriter |
F1 – | The Fund may not underwrite any issue of securities issued by other persons within the meaning of the 1933 Act except when it might be deemed to be an underwriter either: (i) in connection with the disposition of a portfolio |
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security; or (ii) in connection with the purchase of securities directly from the issuer thereof in accordance with the Fund’s investment objective. This restriction shall not limit the Fund’s ability to invest in securities issued by other registered investment companies. | |
F2 – | The Fund will not underwrite any issue of securities issued by other persons within the meaning of the 1933 Act except when it might be deemed to be an underwriter either: (i) in connection with the disposition of a portfolio security; or (ii) in connection with the purchase of securities directly from the issuer where the Fund later resells such securities. This restriction shall not limit the Fund’s ability to invest in securities issued by other registered investment companies. |
G. | Lending |
G1 – | The Fund may not make loans, except to the extent permitted by the 1940 Act, the rules and regulations thereunder and any applicable exemptive relief. |
G2 – | The Fund will not make loans, except to the extent permitted by the 1940 Act, the rules and regulations thereunder and any applicable exemptive relief, as interpreted or modified by regulatory authority having jurisdiction, from time to time. |
G3 – | The Fund will not make loans, except to the extent permitted by the 1940 Act, the rules and regulations thereunder and any applicable exemptive relief. |
H. | Borrowing |
H1 – | The Fund may not borrow money except to the extent permitted by the 1940 Act, the rules and regulations thereunder and any applicable exemptive relief. |
H2 – | The Fund will not borrow money except to the extent permitted by the 1940 Act, the rules and regulations thereunder and any applicable exemptive relief, as interpreted or modified by regulatory authority having jurisdiction, from time to time. |
H3 – | The Fund will not borrow money except to the extent permitted by the 1940 Act, the rules and regulations thereunder and any applicable exemptive relief. |
I. | Issue senior securities |
I1 – | The Fund may not issue senior securities, except as permitted under the 1940 Act, the rules and regulations thereunder and any applicable exemptive relief. |
I2 – | The Fund will not issue senior securities, except as permitted under the 1940 Act, the rules and regulations thereunder and any applicable exemptive relief, as interpreted or modified by regulatory authority having jurisdiction, from time to time. |
I3 – | The Fund will not issue senior securities, except as permitted under the 1940 Act, the rules and regulations thereunder and any applicable exemptive relief. |
■ | Bond Fund may invest up to 25% of its assets in dollar-denominated debt securities issued by foreign governments, companies or other entities. |
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■ | Balanced Fund, Contrarian Core Fund and Dividend Income Fund each may invest up to 20% of its net assets in foreign securities. |
■ | Large Cap Growth Fund, Mid Cap Growth Fund, Small Cap Core Fund, Small Cap Growth Fund I and Small Cap Value Fund I each may invest up to 20% of its total assets in foreign securities. |
■ | Up to 25% of the net assets of AP – Core Plus Bond Fund may be invested in foreign investments, which may include investments in non-U.S. dollar denominated securities, as well as investments in emerging markets securities. |
■ | AP – Small Cap Equity Fund may invest up to 25% of its net assets in foreign investments. |
■ | Ultra Short Term Bond Fund may invest up to 20% of its total assets in dollar-denominated foreign debt securities. |
■ | Each Fund (other than those Funds listed below) may not sell securities short, except as permitted by the 1940 Act, the rules and regulations thereunder and any applicable exemptive relief. |
■ | The following Funds may not sell securities short: AMT-Free OR Intermediate Muni Bond Fund, AP – Core Plus Bond Fund, AP – Growth Fund, Balanced Fund, Bond Fund, Emerging Markets Fund, Global Dividend Opportunity Fund, Global Energy and Natural Resources Fund, Global Technology Growth Fund, Mid Cap Growth Fund, Pacific/Asia Fund, Real Estate Equity Fund, Select Large Cap Growth Fund, Small Cap Growth Fund I and Value and Restructuring Fund. |
■ | Tax-Exempt Fund may not have a short position, unless the Fund owns, or owns rights (exercisable without payment) to acquire, an equal amount of such securities. |
■ | Tax-Exempt Fund may not purchase securities on margin, but may receive short-term credit to clear securities transactions and may make initial or maintenance margin deposits in connection with futures transactions. |
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Type of Investment | Alternative | Equity and Flexible | Funds-of-Funds – Equity and Fixed Income | Taxable Fixed Income(a) | Tax-Exempt Fixed Income |
Asset-Backed Securities | • | • | • | • | • |
Bank Obligations (Domestic and Foreign) | • | • | • | • | • |
Collateralized Bond Obligations | • | • | • | • | • |
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Type of Investment | Alternative | Equity and Flexible | Funds-of-Funds – Equity and Fixed Income | Taxable Fixed Income(a) | Tax-Exempt Fixed Income |
Commercial Paper | • | • | • | • | • |
Common Stock | • | • | • | • | — |
Convertible Securities | • | • | • | • | • |
Corporate Debt Securities | • | • | • | • | • |
Custody Receipts and Trust Certificates | • | • | • | • | • |
Debt Obligations | • | • | • | • | • |
Depositary Receipts | • | • | • | • | — |
Derivatives | • | • | • | • | • |
Dollar Rolls | • | • | • | • | • |
Foreign Currency Transactions | • | • | • | • | • |
Foreign Securities | • | • | • | • | • |
Guaranteed Investment Contracts (Funding Agreements) | • | • | • | • | • |
High-Yield Securities | • | • | • | • | • |
Illiquid Securities | • | • | • | • | • |
Inflation Protected Securities | • | • | • | • | • |
Initial Public Offerings | • | • | • | • | • |
Inverse Floaters | • | • | • | • | • |
Investments in Other Investment Companies (Including ETFs) | • | • | • | • | • |
Listed Private Equity Funds | • | • | • | • | • |
Money Market Instruments | • | • | • | • | • |
Mortgage-Backed Securities | • | • | • | • | • |
Municipal Securities | • | • | • | • | • |
Participation Interests | • | • | • | • | • |
Partnership Securities | • | • | • | • | • |
Preferred Stock | • | • | • | • | • |
Private Placement and Other Restricted Securities | • | • | • | • | • |
Real Estate Investment Trusts | • | • | • | • | • |
Repurchase Agreements | • | • | • | • | • |
Reverse Repurchase Agreements | • | • | • | • | • |
Short Sales(b) | • | • | • | • | • |
Sovereign Debt | • | • | • | • | • |
Standby Commitments | • | • | • | • | • |
U.S. Government and Related Obligations | • | • | • | • | • |
Variable and Floating Rate Obligations | • | • | • | • | • |
(a) | Intermediate Bond Fund is not authorized to purchase common stock or bank obligations. U.S. Treasury Index Fund is not authorized to purchase asset-backed securities, bank obligations, convertible securities, corporate debt obligations (other than money market instruments), depositary receipts, dollar rolls, foreign currency transactions, foreign securities, guaranteed investment contracts, inverse floaters, high-yield securities, mortgage-backed securities, municipal securities, participation interests, partnership securities, REITs, reverse repurchase agreements, short sales, sovereign debt and standby commitments. Ultra Short Term Bond is not authorized to purchase common stock, foreign currency transactions and short sales. |
(b) | See Fundamental and Non-Fundamental Investment Policies for Funds that are not permitted to sell securities short. |
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Fund | Assets (millions) | Annual rate at each asset level | Management Services Fee Effective Date |
Adaptive Alternatives Fund | $0 - $500 | 1.330% | 10/1/2015 |
>$500 - $1,000 | 1.325% | ||
>$1,000 - $3,000 | 1.320% | ||
>$3,000 - $12,000 | 1.310% | ||
>$12,000 | 1.300% | ||
AMT-Free OR Intermediate Muni Bond Fund | $0 - $250 | 0.470% | 12/1/2015 |
>$250 - $500 | 0.465% | ||
>$500 - $1,000 | 0.415% | ||
>$1,000 - $3,000 | 0.380% | ||
>$3,000 - $6,000 | 0.340% | ||
>$6,000 - $7,500 | 0.330% | ||
>$7,500 - $12,000 | 0.320% | ||
>$12,000 | 0.310% | ||
AP – Growth Fund | $0 - $500 | 0.770% | 8/1/2015 |
Large Cap Growth Fund | >$500 - $1,000 | 0.720% | 12/1/2015 |
Select Large Cap Growth Fund | >$1,000 - $1,500 | 0.670% | 8/1/2015 |
>$1,500 - $3,000 | 0.620% | ||
>$3,000 - $6,000 | 0.600% | ||
>$6,000 - $12,000 | 0.580% | ||
>$12,000 | 0.570% | ||
Bond Fund | $0 - $500 | 0.500% | 9/1/2015 |
Corporate Income Fund | >$500 - $1,000 | 0.495% | 9/1/2015 |
Intermediate Bond Fund | >$1,000 - $2,000 | 0.480% | 9/1/2015 |
>$2,000 - $3,000 | 0.460% | ||
>$3,000 - $6,000 | 0.450% | ||
>$6,000 - $7,500 | 0.430% | ||
>$7,500 - $9,000 | 0.415% | ||
>$9,000 - $12,000 | 0.410% | ||
>$12,000 - $20,000 | 0.390% | ||
>$20,000 - $24,000 | 0.380% | ||
>$24,000 - $50,000 | 0.360% | ||
>$50,000 | 0.340% | ||
Diversified Absolute Return Fund | $0 - $500 | 1.180% | 10/1/2015 |
>$500 - $1,000 | 1.130% | ||
>$1,000 - $3,000 | 1.100% | ||
>$3,000 - $6,000 | 1.070% | ||
>$6,000 - $12,000 | 1.040% | ||
>$12,000 | 1.030% | ||
Dividend Income Fund | $0 - $500 | 0.720% | 10/1/2015 |
>$500 - $1,000 | 0.670% | ||
>$1,000 - $1,500 | 0.620% | ||
>$1,500 - $3,000 | 0.570% | ||
>$3,000 - $6,000 | 0.550% | ||
>$6,000 - $12,000 | 0.530% | ||
>$12,000 | 0.520% | ||
Global ILB Plus Fund | All assets | 0.700% | 12/1/2015 |
Statement of Additional Information – December 1, 2015 | 81 |
Table of Contents
Fund | Assets (millions) | Annual rate at each asset level | Management Services Fee Effective Date |
Global Unconstrained Bond Fund | $0 - $500 | 0.670% | 6/30/2015 |
>$500 - $1,000 | 0.625% | ||
>$1,000 - $2,000 | 0.580% | ||
>$2,000 - $3,000 | 0.530% | ||
>$3,000 - $4,000 | 0.470% | ||
>$4,000 - $12,000 | 0.450% | ||
> $12,000 | 0.440% | ||
HY Municipal Fund | $0 - $500 | 0.540% | 10/1/2015 |
>$500 - $1,000 | 0.535% | ||
>$1,000 - $2,000 | 0.505% | ||
>$2,000 - $3,000 | 0.480% | ||
>$3,000 - $6,000 | 0.445% | ||
>$6,000 - $7,500 | 0.420% | ||
>$7,500 - $10,000 | 0.410% | ||
>$10,000 - $12,000 | 0.400% | ||
>$12,000 - $15,000 | 0.390% | ||
>$15,000 - $24,000 | 0.380% | ||
>$24,000 - $50,000 | 0.360% | ||
>$50,000 | 0.340% | ||
Multi-Asset Income Fund | $0 - $500 | 0.660% | 9/1/2015 |
>$500 - $1,000 | 0.625% | ||
>$1,000 - $1,500 | 0.610% | ||
>$1,500 - $3,000 | 0.600% | ||
>$3,000 - $6,000 | 0.570% | ||
>$6,000 - $12,000 | 0.545% | ||
>$12,000 | 0.510% | ||
Pacific/Asia Fund | $0 - $1,000 | 0.950% | 8/1/2015 |
>$1,000 - $1,500 | 0.870% | ||
>$1,500 - $3,000 | 0.820% | ||
>$3,000 - $6,000 | 0.770% | ||
>$6,000 | 0.720% | ||
Small Cap Value Fund I | $0 - $500 | 0.870% | 9/1/2015 |
>$500 - $1,000 | 0.820% | ||
>$1,000 - $3,000 | 0.770% | ||
>$3,000 - $12,000 | 0.760% | ||
>$12,000 | 0.750% | ||
Tax-Exempt Fund | $0 - $500 | 0.480% | 12/1/2015 |
>$500 - $1,000 | 0.475% | ||
>$1,000 - $2,000 | 0.445% | ||
>$2,000 - $3,000 | 0.420% | ||
>$3,000 - $6,000 | 0.385% | ||
>$6,000 - $9,000 | 0.360% | ||
>$9,000 - $10,000 | 0.350% | ||
>$10,000 - $12,000 | 0.340% | ||
>$12,000 - $15,000 | 0.330% | ||
>$15,000 - $24,000 | 0.320% | ||
>$24,000 - $50,000 | 0.300% | ||
>$50,000 | 0.290% | ||
U.S. Social Bond Fund | $0 - $500 | 0.570% | 12/1/2015 |
>$500 - $1,000 | 0.565% | ||
>$1,000 - $3,000 | 0.560% | ||
>$3,000 - $12,000 | 0.550% | ||
>$12,000 | 0.540% | ||
U.S. Treasury Index Fund(a) | All assets | 0.400% | 9/1/2015 |
Ultra Short Term Bond Fund(b) | All assets | 0.250% | 12/1/2015 |
Statement of Additional Information – December 1, 2015 | 82 |
Table of Contents
Fund | Assets (millions) | Annual rate at each asset level | Management Services Fee Effective Date |
Value and Restructuring Fund | $0 - $500 | 0.750% | 7/1/2015 |
>$500 - $1,000 | 0.740% | ||
>$1,000 - $1,500 | 0.670% | ||
>$1,500 - $3,000 | 0.620% | ||
>$3,000 - $6,000 | 0.600% | ||
>$6,000 - $12,000 | 0.580% | ||
> $12,000 | 0.570% |
Statement of Additional Information – December 1, 2015 | 83 |
Table of Contents
Asset Category | Assets (millions) | Annual rate at each asset level | Management Services Fee Effective Date |
Category 1: Assets invested in affiliated mutual funds, exchange- traded funds and closed-end funds that pay an investment management services fee to the Investment Manager. | $0 - $500 | 0.060% | 10/1/2015 |
>$500 - $1,000 | 0.055% | ||
>$1,000 - $3,000 | 0.050% | ||
>$3,000 - $12,000 | 0.040% | ||
>$12,000 | 0.030% | ||
Category 2: Assets invested in exchange-traded funds and mutual funds that are not managed by the Investment Manager or its affiliates. | $0 - $500 | 0.160% | |
>$500 - $1,000 | 0.155% | ||
>$1,000 - $3,000 | 0.150% | ||
>$3,000 - $12,000 | 0.140% | ||
>$12,000 | 0.130% | ||
Category 3: Securities, instruments and other assets not described above, including without limitation affiliated mutual funds, exchange-traded funds and closed-end funds that do not pay an investment management services fee to the Investment Manager, third party closed-end funds, derivatives and individual securities. | $0 - $500 | 0.760% | |
>$500 - $1,000 | 0.745% | ||
>$1,000 - $1,500 | 0.730% | ||
>$1,500 - $3,000 | 0.720% | ||
>$3,000 - $6,000 | 0.690% | ||
>$6,000 - $12,000 | 0.665% | ||
>$12,000 | 0.630% |
Statement of Additional Information – December 1, 2015 | 84 |
Table of Contents
Fund | Assets (billions) | Annual rate at each asset level |
AMT-Free CT Intermediate Muni Bond Fund AMT-Free MA Intermediate Muni Bond Fund AMT-Free NY Intermediate Muni Bond Fund CA Tax-Exempt Fund NY Tax-Exempt Fund | First $0.5 | 0.400% |
$0.5 to $1.0 | 0.350% | |
$1.0 to $3.0 | 0.320% | |
$3.0 to $6.0 | 0.290% | |
$6.0 to $7.5 | 0.280% | |
Over $7.5 | 0.270% | |
AMT-Free Intermediate Muni Bond Fund | First $1.0 | 0.410% |
$1.0 to $2.0 | 0.385% | |
$2.0 to $3.0 | 0.360% | |
$3.0 to $6.0 | 0.335% | |
$6.0 to $9.0 | 0.310% | |
$9.0 to $10.0 | 0.300% | |
$10.0 to $15.0 | 0.290% | |
$15.0 to $24.0 | 0.280% | |
$24.0 to $50.0 | 0.260% | |
Over $50.0 | 0.250% | |
AP – Alternative Strategies Fund | First $0.5 | 1.020% |
$0.5 to $1.0 | 0.975% | |
$1.0 to $3.0 | 0.950% | |
$3.0 to $6.0 | 0.930% | |
Over $6.0 | 0.900% | |
AP – Core Plus Bond Fund | First $1.0 | 0.430% |
$1.0 to $2.0 | 0.420% | |
$2.0 to $6.0 | 0.400% | |
$6.0 to $7.5 | 0.380% | |
$7.5 to $9.0 | 0.365% | |
$9.0 to $12.0 | 0.360% | |
$12.0 to $20.0 | 0.350% | |
$20.0 to $24.0 | 0.340% | |
$24.0 to $50.0 | 0.320% | |
Over $50.0 | 0.300% | |
Contrarian Core Fund Global Dividend Opportunity Fund | First $0.5 | 0.710% |
$0.5 to $1.0 | 0.665% | |
$1.0 to $1.5 | 0.620% | |
$1.5 to $3.0 | 0.570% | |
$3.0 to $6.0 | 0.560% | |
Over $6.0 | 0.540% |
Statement of Additional Information – December 1, 2015 | 85 |
Table of Contents
Fund | Assets (billions) | Annual rate at each asset level |
AP – Small Cap Equity Fund | First $0.25 | 0.900% |
$0.25 to $0.5 | 0.850% | |
Over $0.5 | 0.800% | |
Balanced Fund | First $0.5 | 0.660% |
$0.5 to $1.0 | 0.615% | |
$1.0 to $1.5 | 0.570% | |
$1.5 to $3.0 | 0.520% | |
$3.0 to $6.0 | 0.510% | |
Over $6.0 | 0.490% | |
Emerging Markets Fund | First $0.25 | 1.100% |
$0.25 to $0.5 | 1.080% | |
$0.5 to $0.75 | 1.060% | |
$0.75 to $1.0 | 1.040% | |
$1.0 to $1.5 | 0.800% | |
$1.5 to $3.0 | 0.750% | |
$3.0 to $6.0 | 0.710% | |
Over $6.0 | 0.660% | |
Global Energy and Natural Resources Fund | First $1.0 | 0.690% |
$1.0 to $1.5 | 0.620% | |
$1.5 to $3.0 | 0.570% | |
$3.0 to $6.0 | 0.560% | |
Over $6.0 | 0.540% | |
Global Technology Growth Fund | First $0.5 | 0.870% |
$0.5 to $1.0 | 0.820% | |
Over $1.0 | 0.770% | |
Greater China Fund | First $1.0 | 0.870% |
$1.0 to $1.5 | 0.800% | |
$1.5 to $3.0 | 0.760% | |
$3.0 to $6.0 | 0.720% | |
Over $6.0 | 0.680% | |
Mid Cap Growth Fund | First $0.5 | 0.760% |
$0.5 to $1.0 | 0.715% | |
$1.0 to $1.5 | 0.670% | |
Over $1.5 | 0.620% | |
Real Estate Equity Fund | First $1.0 | 0.690% |
$1.0 to $1.5 | 0.670% | |
Over $1.5 | 0.620% | |
Small Cap Core Fund Small Cap Growth Fund I | First $0.5 | 0.790% |
$0.5 to $1.0 | 0.745% | |
Over $1.0 | 0.700% | |
Strategic Income Fund | First $0.5 | 0.530% |
$0.5 to $1.0 | 0.525% | |
$1.0 to $2.0 | 0.515% | |
$2.0 to $3.0 | 0.495% | |
$3.0 to $6.0 | 0.480% | |
$6.0 to $7.5 | 0.455% | |
$7.5 to $9.0 | 0.440% | |
$9.0 to $10.0 | 0.431% | |
$10.0 to $15.0 | 0.419% | |
$15.0 to $20.0 | 0.409% | |
$20.0 to $24.0 | 0.393% | |
$24.0 to $50.0 | 0.374% | |
Over $50.0 | 0.353% |
Statement of Additional Information – December 1, 2015 | 86 |
Table of Contents
Investment Advisory Services Fees | |||
2015 | 2014 | 2013 | |
For Funds with fiscal period ending January 31 | |||
Diversified Real Return Fund | $6,813 (a) | N/A | N/A |
For Funds with fiscal period ending March 31 | |||
AP – Growth Fund | 11,264,268 | $9,510,480 | $6,230,101 (b) |
Pacific/Asia Fund | 2,337,343 | 2,684,715 | 2,513,389 |
Select Large Cap Growth Fund | 40,020,937 | 36,199,976 | 31,192,885 |
For Funds with fiscal period ending April 30 | |||
Bond Fund | 3,091,167 | 4,135,423 | 6,213,824 |
Corporate Income Fund | 6,174,639 | 6,040,737 | 6,237,060 |
Intermediate Bond Fund | 15,122,287 | 18,867,679 | 13,418,625 |
Multi-Asset Income Fund | 47,483 (c) | N/A | N/A |
Small Cap Value Fund I | 9,230,465 | 10,928,618 | 11,658,742 |
U.S. Treasury Index Fund | 325,652 | 315,583 | 400,928 |
For Funds with fiscal period ending May 31 | |||
Adaptive Alternatives Fund | 642,780 (d) | N/A | N/A |
Adaptive Risk Allocation Fund | 1,474,567 | 112,337 | 51,020 (e) |
Diversified Absolute Return Fund | 320,186 (f) | N/A | N/A |
Dividend Income Fund | 47,320,865 | 45,795,703 | 37,839,114 |
HY Municipal Fund | 3,742,648 | 3,539,495 | 4,621,066 |
For Funds with fiscal period ending July 31 | |||
AMT-Free OR Intermediate Muni Bond Fund | 1,802,859 | 1,762,302 | 1,992,185 |
Global ILB Plus Fund | 28,329 | 11,647 (g) | N/A |
Large Cap Growth Fund | 20,114,401 | 18,583,489 | 16,526,481 |
Tax-Exempt Fund | 15,029,336 | 14,994,704 | 17,140,124 |
U.S. Social Bond Fund | 26,951 (h) | N/A | N/A |
Ultra Short Term Bond Fund | 4,102,773 | 4,577,428 | 4,262,492 |
Statement of Additional Information – December 1, 2015 | 87 |
Table of Contents
Investment Advisory Services Fees | |||
2014 | 2013 | 2012 | |
For Funds with fiscal period ending August 31 | |||
AP – Alternative Strategies Fund | $7,445,886 | $5,713,001 | $1,570,915 (i) |
AP – Core Plus Bond Fund | 16,983,316 | 18,964,179 | 6,266,540 (j) |
AP – Small Cap Equity Fund | 5,699,757 | 4,261,994 | 1,163,423 (j) |
Balanced Fund | 11,084,447 | 8,516,272 | 6,967,277 |
Contrarian Core Fund | 24,213,965 | 16,485,570 | 10,862,663 (k) |
Emerging Markets Fund | 13,473,223 | 8,951,551 | 7,947,668 (l) |
Global Dividend Opportunity Fund | 6,295,514 | 5,493,181 | 5,565,472 |
Global Energy and Natural Resources Fund | 2,627,816 | 2,956,409 | 6,717,718 (l) |
Global Technology Growth Fund | 1,674,084 | 1,206,218 | 1,640,143 |
Greater China Fund | 1,191,231 | 1,833,662 | 1,944,751 |
Mid Cap Growth Fund | 17,409,882 | 15,698,296 | 13,873,055 |
Small Cap Core Fund | 9,076,791 | 7,942,625 | 5,961,050 (k) |
Small Cap Growth Fund I | 9,821,868 | 8,867,134 | 8,072,792 |
Value and Restructuring Fund | 14,148,667 | 16,455,919 | 45,264,126 (l) |
For Funds with fiscal period ending October 31 | |||
AMT-Free CT Intermediate Muni Bond Fund | 688,737 | 807,504 | 865,432 |
AMT-Free Intermediate Muni Bond Fund | 8,262,651 | 9,938,231 | 10,291,609 |
AMT-Free MA Intermediate Muni Bond Fund | 1,203,390 | 1,414,463 | 1,511,872 |
AMT-Free NY Intermediate Muni Bond Fund | 1,014,210 | 1,233,273 | 1,296,104 |
CA Tax-Exempt Fund | 1,870,343 | 2,089,802 | 2,174,124 |
NY Tax-Exempt Fund | 682,302 | 761,105 | 768,227 |
Strategic Income Fund | 11,508,313 | 13,715,882 | 17,539,908 (m) |
For Funds with fiscal period ending December 31 | |||
Real Estate Equity Fund | 3,762,944 | 4,091,656 | 3,927,019 |
(a) | For the period from March 11, 2014 (commencement of operations) to January 31, 2015. |
(b) | For the period from April 20, 2012 (commencement of operations) to March 31, 2013. |
(c) | For the period from March 27, 2015 (commencement of operations) to April 30, 2015. |
(d) | For the period from January 27, 2015 (commencement of operations) to May 31, 2015. |
(e) | For the period from June 19, 2012 (commencement of operations) to May 31, 2013. |
(f) | For the period from February 19, 2015 (commencement of operations) to May 31, 2015. |
(g) | For the period from March 12, 2014 (commencement of operations) to July 31, 2014. |
(h) | For the period from March 26, 2015 (commencement of operations) to July 31, 2015. |
(i) | For the period from April 23, 2012 (commencement of operations) to August 31, 2012. |
(j) | For the period from April 20, 2012 (commencement of operations) to August 31, 2012. |
(k) | Contrarian Core Fund and Small Cap Core Fund changed their fiscal year ends in 2012 from September 30 to August 31. For the fiscal year ended 2012, the information shown is for the period from October 1, 2011 to August 31, 2012. For the fiscal year ended 2011, the investment advisory services fees paid were $7,499,179 and $5,993,236, respectively. |
(l) | Emerging Markets Fund, Global Energy and Natural Resources Fund and Value and Restructuring Fund changed their fiscal year ends in 2012 from March 31 to August 31. For the fiscal year ended 2012, the information shown is for the 17-month period from April 1, 2011 to August 31, 2012. For the fiscal year ended March 31, 2012, Emerging Markets Fund paid investment advisory services fees of $5,473,855, Global Energy and Natural Resources Fund paid investment advisory services fees of $5,262,966, and Value and Restructuring Fund paid investment advisory services fees of $36,158,339. For the fiscal period from April 1, 2012 to August 31, 2012, Emerging Markets Fund paid investment advisory services fees of $2,473,783, Global Energy and Natural Resources Fund paid investment advisory services fees of $1,454,752, and Value and Restructuring Fund paid investment advisory services fees of $9,105,787. |
(m) | Strategic Income Fund changed its fiscal year end in 2012 from May 31 to October 31. For the fiscal year ended 2012, the information shown is for the 17-month period from June 1, 2011 to October 31, 2012. For the fiscal year ended May 31, 2012, Strategic Income Fund paid investment advisory services fees of $11,871,078. For the fiscal period from June 1, 2012 to October 31, 2012, Strategic Income Fund paid investment advisory services fees of $5,668,830. |
Statement of Additional Information – December 1, 2015 | 88 |
Table of Contents
Fund | Subadviser | Parent Company/Other Information | Fee Schedule |
For Funds with fiscal period ending January 31 | |||
Diversified Real Return Fund | Threadneedle (since commencement of operations) | A | 0.00% for all assets(a) |
For Funds with fiscal period ending March 31 | |||
AP – Growth Fund | Loomis Sayles (effective December 11, 2013) | B | 0.27% for all assets |
For Funds with fiscal period ending April 30 | |||
Multi-Asset Income Fund | Threadneedle (since commencement of operations) | A | 0.16% for all assets |
Statement of Additional Information – December 1, 2015 | 89 |
Table of Contents
Fund | Subadviser | Parent Company/Other Information | Fee Schedule |
For Funds with fiscal period ending May 31 | |||
Adaptive Alternatives Fund | Threadneedle (since commencement of operations) | A | 0.45% for all assets |
Diversified Absolute Return Fund | Threadneedle (since commencement of operations) | A | 0.45% for all assets |
For Funds with fiscal period ending July 31 | |||
Global Inflation-Linked Bond Plus Fund | Threadneedle (since commencement of operations) | A | 0.28% for all assets |
U.S. Social Bond Fund | Threadneedle (since commencement of operations) | A | 0.16% for all assets |
For Funds with fiscal period ending August 31 | |||
AP – Alternative Strategies Fund | AQR (since commencement of operations) | C | 0.65% on the first $500 million declining to 0.50% as assets increase(b) |
Wasatch (since commencement of operations) | D | 0.70% on the first $100 million declining to 0.60% as assets increase | |
Water Island (since commencement of operations) | E | 0.70% on the first $50 million declining to 0.60% as assets increase | |
AP – Core Plus Bond Fund | Federated (since commencement of operations) | F | 0.15% on the first $100 million declining to 0.08% as assets increase |
TCW (since commencement of operations) | G | 0.18% on the first $500 million declining to 0.05% as assets increase | |
AP – Small Cap Equity Fund | BMO (effective October 26, 2015) | K | 0.30% on the first $200 million declining to 0.20% as assets increase up to $500 million, thereafter 0.25% |
Conestoga (effective October 1, 2012) | H | 0.48% on all assets | |
DGHM (since commencement of operations) | I | 0.65% of the first $50 million declining to 0.35% as assets increase up to $200 million, thereafter 0.45% | |
EAM (since commencement of operations) | J | 0.50% of the first $100 million declining to 0.40% as assets increase | |
For Funds with fiscal period ending October 31 | |||
Global Unconstrained Bond Fund | Threadneedle (since commencement of operations) | A | 0.25% for all assets |
(a) | The Fund invests substantially all of its assets in affiliated underlying funds, for which the Investment Manager is not paid management services fees and, therefore, the subadvisory fee rate is 0.00%. |
(b) | The fee is calculated based on the combined net assets of Columbia Funds subject to the subadviser’s investment management. |
Statement of Additional Information – December 1, 2015 | 90 |
Table of Contents
Subadvisory Fees Paid | ||||
Fund | Subadviser | 2015 | 2014 | 2013 |
For Funds with fiscal period ending March 31 | ||||
AP – Growth Fund | Loomis Sayles | $713,550 | $52,526 (a) | N/A |
Fund | Subadviser | 2014 | 2013 | 2012 |
For Funds with fiscal period ending August 31 | ||||
AP – Alternative Strategies Fund | AQR | 1,541,430 | 912,940 | $255,985 (b) |
Former subadviser: Eaton Vance (through November 25, 2013) | 193,271 | 823,464 | 221,078 (b) | |
Wasatch | 1,597,801 | 1,185,657 | 312,741 (b) | |
Water Island | 1,420,066 | 745,392 | 212,015 (b) |
Statement of Additional Information – December 1, 2015 | 91 |
Table of Contents
Subadvisory Fees Paid | ||||
Fund | Subadviser | 2014 | 2013 | 2012 |
AP – Core Plus Bond Fund | Federated | $1,184,125 | $1,516,526 | $549,731 (c) |
TCW | 1,883,217 | 2,055,181 | 539,286 (c) | |
AP – Small Cap Equity Fund | BMO (d) | N/A | N/A | N/A |
Conestoga | 769,719 | 531,558 (e) | N/A | |
DGHM | 778,710 | 524,799 | 121,072 (c) | |
EAM | 768,575 | 580,685 | 159,349 (c) | |
Former subadviser: RS Investments (through September 30, 2012) | N/A | 42,593 (f) | 169,473 (c) |
(a) | For the period from December 11, 2013 to March 31, 2014. |
(b) | For the period from April 23, 2012 (commencement of operations) to August 31, 2012. |
(c) | For the period from April 20, 2012 (commencement of operations) to August 31, 2012. |
(d) | The subadviser began managing the Fund after its last fiscal year end; therefore there are no fees to report. |
(e) | For the period from October 1, 2012 to August 31, 2013. |
(f) | For the period from September 1, 2012 to September 30, 2012. |
Statement of Additional Information – December 1, 2015 | 92 |
Table of Contents
Other Accounts Managed (excluding the Fund) | Ownership of Fund Shares | Potential Conflicts of Interest | Structure of Compensation | ||||
Fund | Portfolio Manager | Number and Type of Account* | Approximate Total Net Assets | Performance- Based Accounts** | |||
For Funds with fiscal year ending January 31 | |||||||
Diversified Real Return Fund | Jeffrey Knight | 24 RICs 1 PIV 3 other accounts | $66.73 billion $10.51 million $1.72 million | None | None | (2) | (14) |
Orhan Imer | 12 RICs 2 PIVs 9 other accounts | $7.25 billion $14.20 million $1 million | None | None | |||
For Funds with fiscal year ending March 31 | |||||||
AP – Growth Fund | Columbia Management: Thomas M. Galvin | 7 RICs 1 PIV 2574 other accounts | $8.04 billion $49.04 million $5.13 billion | None | None | (2) | (14) |
Richard A. Carter | 7 RICs 1 PIV 2573 other accounts | $8.04 billion $49.04 million $5.11 billion | None | None | |||
Todd D. Herget | 7 RICs 1 PIV 2578 other accounts | $8.04 billion $49.04 million $5.11 billion | None | None | |||
Loomis Sayles: Aziz Hamzaogullari | 12 RICs 8 PIVs 69 other accounts | $9.3 billion $1.3 billion $5.7 billion | 1 PIV ($517 million) | None | (9) | (21) | |
Pacific/Asia Fund | Jasmine (Weili) Huang | 4 RICs 1 PIV 12 other accounts | $2.81 billion $685.68 million $74.11 million | None | $10,001 – $50,000(b) | (2) | (14) |
Daisuke Nomoto | 3 RICs 1 PIV 3 other accounts | $866.95 million $144.43 million $681,250 | None | $50,001 – $100,000(a) $100,001 – $500,000(b) | |||
Christine Seng | 1 RIC 1 PIV | $76.67 million $57.50 million | None | None (c) | (11) | (23) | |
Select Large Cap Growth Fund | Thomas M. Galvin | 7 RICs 1 PIV 2574 other accounts | $2.78 billion $49.04 million $5.13 billion | None | Over $1,000,000(a) $50,001 – $100,000(b) | (2) | (14) |
Richard A. Carter | 7 RICs 1 PIV 2573 other accounts | $2.78 billion $49.04 million $5.11 billion | None | $100,001 – $500,000(a) $100,001 – $500,000(b) | |||
Todd D. Herget | 7 RICs 1 PIV 2578 other accounts | $2.78 billion $49.04 million $5.11 billion | None | $500,001 – $1,000,000(b) |
Statement of Additional Information – December 1, 2015 | 93 |
Table of Contents
Other Accounts Managed (excluding the Fund) | Ownership of Fund Shares | Potential Conflicts of Interest | Structure of Compensation | ||||
Fund | Portfolio Manager | Number and Type of Account* | Approximate Total Net Assets | Performance- Based Accounts** | |||
For the Funds with fiscal year ending April 30 | |||||||
Bond Fund | Carl W. Pappo | 5 RICs 4 PIVs 22 other accounts | $9.60 billion $1.36 billion $2.21 billion | None | None | (2) | (14) |
Michael Zazzarino | 4 RICs 1 PIV 10 other accounts | $9.60 billion $50.40 million $83.97 million | None | $1 – $10,000(a) | |||
Corporate Income Fund | Tom Murphy | 12 RICs 28 PIVs 38 other accounts | $3.81 billion $35.04 billion $5.58 billion | None | None | (2) | (14) |
Tim Doubek | 10 RICs 31 other accounts | $3.79 billion $4.08 billion | None | $50,001 – $100,000(a) $50,001 – $100,000(b) | |||
Brian Lavin | 13 RICs 2 PIVs 5 other accounts | $25.43 billion $71.84 million $2.97 million | None | None | |||
Intermediate Bond Fund | Brian Lavin | 13 RICs 2 PIVs 5 other accounts | $23.46 billion $71.84 million $2.97 million | None | None | (2) | (14) |
Carl W. Pappo | 5 RICs 4 PIVs 22 other accounts | $6.76 billion $1.36 billion $2.21 billion | None | None | |||
Michael Zazzarino | 4 RICs 1 PIV 10 other accounts | $6.76 billion $50.40 million $83.97 million | None | $1 – 10,000(b) | |||
Multi-Asset Income Fund | Jeffrey Knight | 24 RICs 1 PIV 3 other accounts | $69.03 billion $12.99 million $1.79 million | None | $100,001 – $500,000(a) | (2) | (14) |
Anwiti Bahuguna | 10 RICs 21 PIVs 18 other accounts | $7.41 billion $2.11 billion $132.59 billion | None | None | |||
Dan Boncarosky | 2 RICs 2 other accounts | $3.52 million $143,125.56 | None | None | |||
Joshua Kutin(g) | 7 other accounts | $519,192.13 | None | None | |||
Small Cap Value Fund I | Jeremy Javidi | 1 RIC 1 PIV 12 other accounts | $369.47 million $191.04 million $34.53 million | None | $100,001 – $500,000(a) | (2) | (14) |
U.S. Treasury Index Fund | William Finan | 3 other accounts | $978,381 | None | None | (2) | (14) |
Orhan Imer | 8 RICs 2 PIVs 9 other accounts | $1.37 billion $16.52 million $1 million | None | None | |||
For Funds with fiscal year ending May 31 | |||||||
Adaptive Alternatives Fund | Jeffrey L. Knight | 24 RICs 1 PIV 4 other accounts | $69.11 billion $12.80 million $1.79 million | None | None | (2) | (14) |
William Landes | 3 RICs 3 other accounts | $533.23 million $1 million | $100,001 – $500,000(a) | ||||
Marc Khalamayzer | 1 RIC 1 other account | $90.85 million $71,751.30 | None | ||||
Joshua Kutin(g) | 7 other accounts | $519,192.13 | None |
Statement of Additional Information – December 1, 2015 | 94 |
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Other Accounts Managed (excluding the Fund) | Ownership of Fund Shares | Potential Conflicts of Interest | Structure of Compensation | ||||
Fund | Portfolio Manager | Number and Type of Account* | Approximate Total Net Assets | Performance- Based Accounts** | |||
Adaptive Risk Allocation Fund | Jeffrey L. Knight | 24 RICs 1 PIV 4 other accounts | $68.85 billion $12.80 million $1.79 million | None | over $1,000,000(a) $100,001 – $500,000(b) | (1), (2) | (14) |
Beth M. Vanney | 7 RICs 1 PIV 4 other accounts | $6.66 billion $12.80 million $474,453.60 | None | $10,001 – $50,000(b) | |||
Orhan Imer | 13 RICs 2 PIVs 9 other accounts | $1.40 billion $16.33 million $1 million | None | $1 – $10,000(b) | |||
Joshua Kutin(g) | 7 other accounts | $519,192.13 | None | None | |||
Toby Nangle | 7 RICs 5 PIVs 1 other account | $6.58 billion $194.60 million $302.30 million | 3 PIVs ($55.5 M) | None (c) | (1), (11) | (23) | |
Diversified Absolute Return Fund | Jeffrey L. Knight | 24 RICs 1 PIV 4 other accounts | $69.18 billion $12.80 million $1.79 million | None | $500,001 – $1,000,000(a) | (2) | (14) |
William Landes | 3 RICs 3 other accounts | $601.43 million $1 million | None | ||||
Kent Peterson | 6 RICs 4 PIVs 7 other accounts | $19.15 billion $10.82 million $636,446.62 | None | ||||
Brian Virginia | 10 RICs 8 other accounts | $71.87 billion $2.80 million | None | ||||
Joshua Kutin(g) | 7 other accounts | $519,192.13 | None | ||||
Dividend Income Fund | Michael S. Barclay | 2 RICs 2 PIVs 80 other accounts | $109.64 million $957.50 million $1.23 billion | None | $50,001 – $100,000(b) | (2) | (14) |
Scott L. Davis | 2 RICs 2 PIVs 83 other accounts | $109.64 million $957.50 million $1.29 billion | None | $100,001 – $500,000(a) $50,001 – $100,000(b) | |||
Peter Santoro | 4 RICs 2 PIVs 77 other accounts | $998.31 million $957.50 million $1.63 billion | None | $10,001 – $50,000(b) | |||
High Yield Municipal Fund | Chad H. Farrington | 1 RIC 12 other accounts | $19.91 million $134.91 million | None | $10,001 – $50,000(a) $100,001 – $500,000(b) | (2) | (14) |
For Funds with fiscal year ending July 31 | |||||||
AMT-Free OR Intermediate Muni Bond Fund | Brian M. McGreevy | 11 RICs 6 other accounts | $3.98 billion $352.62 million | None | None | (2) | (14) |
Global ILB Plus Fund | Orhan Imer | 17 RICs 2 PIVs 10 other accounts | $1.85 billion $16.02 million $6.11 million | None | None | (2) | (14) |
Dave Chappell | 5 PIVs 31 other accounts | $631 million $3.97 billion | None | None (c) | (11) | (23) |
Statement of Additional Information – December 1, 2015 | 95 |
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Other Accounts Managed (excluding the Fund) | Ownership of Fund Shares | Potential Conflicts of Interest | Structure of Compensation | ||||
Fund | Portfolio Manager | Number and Type of Account* | Approximate Total Net Assets | Performance- Based Accounts** | |||
Large Cap Growth Fund | Peter R. Deininger | 2 RICs 8 other accounts | $1.59 billion $156.56 million | None | $50,001 – $100,000(b) | (2) | (14) |
John T. Wilson | 2 RICs 8 other accounts | $1.59 billion $168.73 million | None | over $1,000,000(a) $100,001 – $500,000(b) | |||
Tchintcia S. Barros | 2 RICs 8 other accounts | $1.59 billion $156.40 million | None | $1 – $10,000(b) | |||
Tax-Exempt Fund | Kimberly A. Campbell | 2 PIVs 23 other accounts | $378.78 million $1.82 million | None | $10,001 – $50,000(a)(b) | (2) | (14) |
U.S. Social Bond Fund | James Dearborn | 7 other accounts | $ 891,910.23 | None | None | (2) | (14) |
Chad Farrington | 1 RIC 10 other accounts | $826.72 million $145.83 million | None | None | |||
Tom Murphy | 12 RICs 28 PIVs 39 other accounts | $3.77 billion $34.43 billion $5.29 billion | None | None | |||
Ultra Short Term Bond Fund | Leonard A. Aplet | 6 RICs 15 PIVs 69 other accounts | $16.99 billion $2.44 billion $7.46 billion | None | None | (2) | (14) |
Ronald Stahl | 3 RICs 15 PIVs 52 other accounts | $3.40 billion $3.96 billion $6.37 billion | None | None | |||
James Sims | 3 other accounts | $1.09 billion | None | None |
Statement of Additional Information – December 1, 2015 | 96 |
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Other Accounts Managed (excluding the Fund) | Ownership of Fund Shares | Potential Conflicts of Interest | Structure of Compensation | ||||
Fund | Portfolio Manager | Number and Type of Account* | Approximate Total Net Assets | Performance- Based Accounts** | |||
For Funds with fiscal year ending August 31 | |||||||
AP – Alternative Strategies Fund | AQR: Clifford S. Asness | 33 RICs 35 PIVs 63 other accounts | $17.9 billion $12.29 billion $25.93 billion | 34 PIVs ($11.97 B) 19 other accounts ($8.57 B) | None | (3) | (15) |
Brian K. Hurst | 13 RICs 38 PIVs 21 other accounts | $14.34 billion $26.44 billion $11.82 billion | 34 PIVs ($24.41 B) 5 other accounts ($4.15 B) | None | |||
John M. Liew | 19 RICs 27 PIVs 29 other accounts | $15.12 billion $9.17 billion $13.72 billion | 25 PIVs ($8.28 B) 9 other accounts ($4.8 B) | None | |||
Yao Hua Ooi | 13 RICs 29 PIVs 2 other accounts | $14.34 billion $19.87 billion $445.88 million | 26 PIVs ($18.37 B) 1 other account ($103.31 M) | None | |||
Ari Levine | 5 RICs 30 PIVs 5 other accounts | $2.51 billion $12.98 billion $1.82 billion | 29 PIVs ($12.16 B) 1 other accounts ($146.65 M) | None | |||
Wasatch: Michael L. Shinnick | 1 RIC 1 PIV | $260 million $2.84 billion | None | None | (12) | (24) | |
Ralph C. Shive | 1 RIC 1 PIV | $260 million $2.84 billion | None | None | |||
Water Island: Edward Chen | 1 RIC | $673.5 million | None | None | (13) | (25) | |
Gregory Loprete | 4 RICs | $1.10 billion | None | None | |||
Todd W. Munn | 4 RICs | $3.62 billion | None | None | |||
Roger P. Foltynowicz | 4 RICs | $3.62 billion | None | None |
Statement of Additional Information – December 1, 2015 | 97 |
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Other Accounts Managed (excluding the Fund) | Ownership of Fund Shares | Potential Conflicts of Interest | Structure of Compensation | ||||
Fund | Portfolio Manager | Number and Type of Account* | Approximate Total Net Assets | Performance- Based Accounts** | |||
AP – Core Plus Bond Fund | Columbia Management: Carl W. Pappo | 4 RICs 4 PIVs 22 other accounts | $9.06 billion $1.40 billion $2.15 billion | None | None | (2) | (14) |
Brian Lavin | 14 RICs 3 PIVs 5 other accounts | $19.71 billion $97.47 million $3.89 million | None | None | |||
Michael Zazzarino | 4 RICs 1 PIV 10 other accounts | $9.06 billion $47.30 million $84.12 million | None | None | |||
Federated: Jerome D. Conner | 1 RIC | $65.3 million | None | None | (8) | (20) | |
Donald T. Ellenberger | 3 RICs 1 PIV 7 other accounts | $5.84 billion $2.34 billion $1.22 billion | None | None | |||
TCW: Tad Rivelle | 25 RICs 31 PIVs 231 other accounts | $55.58 billion $4.23 billion $28.68 billion | 2 RICs ($224.4 M) 26 PIVs ($2.78 B) 6 other accounts ($2.73 B) | None | (10) | (22) | |
Stephen M. Kane | 26 RICs 33 PIVs 231 other accounts | $49.50 billion $5.09 billion $28.77 billion | 2 RICs ($224.4 M) 27 PIVs ($3.17 B) 6 other accounts ($2.73 B) | None | |||
Laird R. Landmann | 25 RICs 31 PIVs 231 other accounts | $49.52 billion $4.23 billion $28.77 billion | 1 RIC ($219 M) 26 PIVs ($2.78 B) 6 other accounts ($2.73 B) | None | |||
Bryan Whalen | 23 RICs 31 PIVs 229 other accounts | $55.56 billion $4.23 billion $26.84 billion | 1 RIC ($219 M) 26 PIVs ($2.78 B) 6 other accounts ($2.73 B) | None |
Statement of Additional Information – December 1, 2015 | 98 |
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Other Accounts Managed (excluding the Fund) | Ownership of Fund Shares | Potential Conflicts of Interest | Structure of Compensation | ||||
Fund | Portfolio Manager | Number and Type of Account* | Approximate Total Net Assets | Performance- Based Accounts** | |||
AP – Small Cap Equity Fund | Columbia Management: Jarl Ginsberg | 3 RICs 13 other accounts | $3.52 billion $47.80 billion | None | None | (2) | (14) |
Christian K. Stadlinger | 3 RICs 13 other accounts | $3.52 billion $57.92 million | None | None | |||
Conestoga: Robert M. Mitchell | 3 RICs 129 other accounts | $745.13 million $883.16 million | None | None | (5) | (17) | |
Joseph F. Monahan | 3 RICs 129 other accounts | $745.13 million $883.13 million | None | None | |||
DGHM: Jeffrey C. Baker | 2 RICs 6 PIVs 76 other accounts | $76 million $372 million $1.44 billion | 2 other accounts ($172 M) | None | (6) | (18) | |
Bruce H. Geller | 2 RICs 6 PIVs 76 other accounts | $76 million $372 million $1.44 billion | 2 other accounts ($172 M) | None | |||
Peter A. Gulli | 2 RICs 6 PIVs 76 other accounts | $76 million $372 million $1.44 billion | 2 other accounts ($172 M) | None | |||
Edward W. Turville (with REMS) | 2 RICs 6 PIVs 76 other accounts | $76 million $372 million $1.44 billion | 2 other accounts ($172 M) | None | |||
EAM: Montie L. Weisenberger | 1 RIC 1 PIV 7 other accounts | $113.33 million $127.24 million $68.12 million | None | None | (7) | (19) | |
BMO: David Corris(h) | 5 RICs 6 PIVs 122 other accounts | $617.6 million $4.97 billion $4.06 billion | None | None | (4) | (16) | |
Thomas Lettenberger(h) | 1 RIC 20 other accounts | $4.1 million $126.5 million | None | None | |||
Balanced Fund | Leonard A. Aplet | 6 RICs 15 PIVs 72 other accounts | $16.72 billion $2.52 billion $7.89 billion | None | $10,001 – $50,000(b) $50,001 – $100,000(a) | (2) | (14) |
Brian Lavin | 13 RICs 3 PIVs 5 other accounts | $23.69 billion $97.47 million $3.89 million | None | None | |||
Gregory S. Liechty | 2 RICs 15 PIVs 49 other accounts | $2.77 billion $4.35 billion $6.56 billion | None | $10,001 – $50,000(b) | |||
Guy W. Pope | 10 RICs 15 PIVs 114 other accounts | $10.51 billion $471.13 million $2.94 billion | None | $100,001 – $500,000(b) $1 – $10,000(a) | |||
Ronald B. Stahl | 2 RICs 15 PIVs 59 other accounts | $2.77 billion $4.35 billion $6.81 billion | None | $1 – $10,000(b) $100,001 – $500,000(a) |
Statement of Additional Information – December 1, 2015 | 99 |
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Other Accounts Managed (excluding the Fund) | Ownership of Fund Shares | Potential Conflicts of Interest | Structure of Compensation | ||||
Fund | Portfolio Manager | Number and Type of Account* | Approximate Total Net Assets | Performance- Based Accounts** | |||
Contrarian Core Fund | Guy W. Pope | 11 RICs 5 PIVs 114 other accounts | $7.12 billion $471.13 million $2.94 billion | None | $500,001 – $1,000,000(b) $500,001 – $1,000,000(a) | (2) | (14) |
Emerging Markets Fund | Robert B. Cameron | 1 RIC 1 PIV 7 other accounts | $1.13 billion $697.24 million $90.81 million | None | $100,001 – $500,000(b) | (2) | (14) |
Jasmine (Weili) Huang | 3 RICs 1 PIV 12 other accounts | $1.55 billion $697.24 million $90.81 million | None | $10,001 – $50,000(b) | |||
Dara J. White | 2 RICs 1 PIV 9 other accounts | $1.19 billion $698.21 million $90.83 million | None | Over $1,000,000(a) $100,001 – $500,000(b) | |||
Young Kim(e) | 6 other accounts | $153,904.11 | None | None | |||
Global Dividend Opportunity Fund | Steven R. Schroll | 4 RICs 1 PIV 352 other accounts | $12.75 billion $6.81 million $72.26 million | None | $100,001 – $500,000(b) $100,001 – $500,000(a) | (2) | (14) |
Paul F. Stocking | 4 RICs 1 PIV 357 other accounts | $12.75 billion $6.81 million $82.75 million | None | $100,001 – $500,000(b) | |||
Dean A. Ramos | 4 RICs 1 PIV 352 other accounts | $12.75 billion $6.81 million $69.76 million | None | $50,001 – $100,000(b) | |||
Global Energy and Natural Resources Fund | Josh Kapp | 1 PIV 5 other accounts | $15.43 million $1.13 million | None | None | (2) | (14) |
Jonathan Mogil | 1 PIV 9 other accounts | $15.43 million $1.83 million | None | None | |||
Global Technology Growth Fund | Wayne M. Collette | 3 RICs 1 PIV 11 other accounts | $1.32 billion $13.46 million $77.52 million | None | $1 – $10,000(a) | (2) | (14) |
Rahul Narang | 4 RICs 9 other accounts | $1.69 billion $64.79 million | None | None ) | |||
Greater China Fund | Jasmine (Weili) Huang | 3 RICs 1 PIV 12 other accounts | $2.98 billion $69.72 million $9.08 million | None | $10,001 – $50,000(b) | (2) | (14) |
Mid Cap Growth Fund | George J. Myers | 2 RICs 2 PIVs 10 other accounts | $680.43 million $374.51 million $25.63 million | None | $50,001 – $100,000(b) $10,001 – $50,000(a) | (2) | (14) |
Brian D. Neigut | 2 RICs 2 PIVs 11 other accounts | $680.43 million $374.51 million $24.95 million | None | $10,001 – $50,000(b) | |||
James E. King | 2 RICs 1 PIV 9 other accounts | $680.43 million $361.05 million $15.35 million | None | $10,001 – $50,000(b) | |||
William Chamberlain | 1 RIC 1 PIV 5 other accounts | $423.60 million $361.05 million $14.87 million | None | $1 – $10,000(b) |
Statement of Additional Information – December 1, 2015 | 100 |
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Other Accounts Managed (excluding the Fund) | Ownership of Fund Shares | Potential Conflicts of Interest | Structure of Compensation | ||||
Fund | Portfolio Manager | Number and Type of Account* | Approximate Total Net Assets | Performance- Based Accounts** | |||
Small Cap Core Fund | Richard D’Auteuil | 1 PIV 17 other accounts | $142.98 million $700.25 million | None | $50,001 – $100,000(b) $100,001 – $500,000(a) | (2) | (14) |
Jeffrey Hershey | 1 PIV 29 other accounts | $142.98 million $693.32 million | None | $1 – $10,000(b) | |||
Paul S. Szczygiel | 1 PIV 23 other accounts | $142.98 million $699.89 million | None | $10,001 – $50,000(b) | |||
Small Cap Growth Fund I | Daniel Cole(d) | 5 other accounts | $2.97 million | None | None | (2) | (14) |
Wayne M. Collette | 3 RICs 1 PIV 11 other accounts | $510.31 million $13.46 million $77.52 million | None | $50,001 – $100,000(b) | |||
Lawrence W. Lin | 2 RICs 1 PIV 14 other accounts | $288.14 million $13.46 million $75.39 million | None | $10,001 – $50,000(b) $10,001 – $50,000(a) | |||
Rahul Narang | 4 RICs 9 other accounts | $877.03 million $64.79 million | None | None | |||
Value and Restructuring Fund | Guy W. Pope | 11 RICs 5 PIVs 114 other accounts | $10.01 billion $471.13 million $2.94 billion | None | $100,001 – $500,000(b) $100,001 – $500,000(a) | (2) | (14) |
J. Nicholas Smith | 96 other accounts | $330.62 million | None | $100,001 – $500,000(a) | |||
For Funds with fiscal year ending October 31 | |||||||
AMT-Free CT Intermediate Muni Bond Fund | Brian McGreevy | 11 RICs 6 other accounts | $4.12 billion $355.87 million | None | None | (2) | (14) |
AMT-Free Intermediate Muni Bond Fund | Paul F. Fuchs | 4 RICs 3 PIVs 4 other accounts | $890.36 million $808.74 million $487,447 | None | $1 - $10,000(b) | (2) | (14) |
Brian McGreevy | 11 RICs 6 other accounts | $2.19 billion $355.87 million | None | $10,001 – $50,000(b) | |||
AMT-Free MA Intermediate Muni Bond Fund | Paul F. Fuchs | 4 RICs 3 PIVs 4 other accounts | $2.69 billion $808.74 million $487,447 | None | None | (2) | (14) |
Brian McGreevy | 11 RICs 6 other accounts | $3.99 billion $355.87 million | None | $100,001 – $500,000(a) | |||
AMT-Free NY Intermediate Muni Bond Fund | Paul F. Fuchs | 4 RICs 3 PIVs 4 other accounts | $2.72 billion $808.74 million $487,447 | None | None | (2) | (14) |
Brian McGreevy | 11 RICs 6 other accounts | $ 4.02 billion $355.87 million | None | None | |||
CA Tax-Exempt Fund | Catherine Stienstra | 4 RICs 3 PIVs 4 other accounts | $3.26 billion $1.49 billion $16.92 million | None | None | (2) | (14) |
Statement of Additional Information – December 1, 2015 | 101 |
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Other Accounts Managed (excluding the Fund) | Ownership of Fund Shares | Potential Conflicts of Interest | Structure of Compensation | ||||
Fund | Portfolio Manager | Number and Type of Account* | Approximate Total Net Assets | Performance- Based Accounts** | |||
Global Unconstrained Bond Fund | Jim Cielinski(f) | 4 RICs 4 PIVs 13 other accounts | $861.63 million $1.04 billion $2.16 billion | 1 PIV ($18.7 M) | None (c) | (11) | (23) |
Martin Harvey(f) | 3 PIVs 3 other accounts | $733.40 million $170.90 million | 1 PIV ($70.1 M) | None (c) | |||
Gene Tannuzzo(f) | 6 PIVs 62 other accounts | $5.03 billion $1.31 billion | None | None | (2) | (14) | |
NY Tax-Exempt Fund | Catherine Stienstra | 4 RICs 3 PIVs 4 other accounts | $3.56 billion $1.49 billion $16.92 million | None | None | (2) | (14) |
Strategic Income Fund | Brian Lavin | 12 RICs 2 PIVs 5 other accounts | $17.44 billion $73.52 million $3.80 million | None | None | (2) | (14) |
Colin Lundgren | 2 RICs 53 other accounts | $2.35 billion $24.89 million | None | $100,001 – $500,000(b) | |||
Gene Tannuzzo | 6 RICs 61 other accounts | $4.08 billion $1.28 billion | None | $50,001 – $100,000(b) $100,001 – $500,000(a) | |||
For the Fund with fiscal year ending December 31 | |||||||
Real Estate Equity Fund | Arthur J. Hurley | 9 other accounts | $1.49 million | None | $1 – $10,000(b) | (2) | (14) |
* | RIC refers to a Registered Investment Company; PIV refers to a Pooled Investment Vehicle. |
** | Number and type of accounts for which the advisory fee paid is based in part or wholly on performance and the aggregate net assets in those accounts. |
(a) | Excludes any notional investments. |
(b) | Notional investments through a deferred compensation account. |
(c) | The Fund is available for sale only in the U.S. The portfolio managers do not reside in the U.S. and therefore do not hold any shares of the Fund. |
(d) | The portfolio manager began managing the Fund after its last fiscal year end; reporting information is provided as of November 30, 2014. |
(e) | The portfolio manager began managing the Fund after its last fiscal year end; reporting information is provided as of December 31, 2014. |
(f) | The Fund commenced operations on June 30, 2015; reporting information is provided as of April 30, 2015. |
(g) | The portfolio manager began managing the Fund after its last fiscal year end; reporting information is provided as of July 31, 2015. |
(h) | The portfolio manager began managing the Fund after its last fiscal year end; reporting information is provided as of August 31, 2015. |
(1) | Columbia Management: Management of funds-of-funds differs from that of the other Funds. The portfolio management process is set forth generally below and in more detail in the Funds’ prospectus. |
Portfolio managers of the fund-of-funds may be involved in determining each funds-of-fund’s allocation among the three main asset classes (equity, fixed income and cash) and the allocation among investment categories within each asset class, as well as each funds-of-fund’s allocation among the underlying funds. |
■ | Because of the structure of the funds-of-funds, the potential conflicts of interest for the portfolio managers may be different than the potential conflicts of interest for portfolio managers who manage other Funds. |
■ | The Investment Manager and its affiliates may receive higher compensation as a result of allocations to underlying funds with higher fees. |
Statement of Additional Information – December 1, 2015 | 102 |
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(2) | Columbia Management: Like other investment professionals with multiple clients, a Fund’s portfolio manager(s) may face certain potential conflicts of interest in connection with managing both the Fund and other accounts at the same time. The Investment Manager and the Funds have adopted compliance policies and procedures that attempt to address certain of the potential conflicts that portfolio managers face in this regard. Certain of these conflicts of interest are summarized below. |
The management of accounts with different advisory fee rates and/or fee structures, including accounts that pay advisory fees based on account performance (performance fee accounts), may raise potential conflicts of interest for a portfolio manager by creating an incentive to favor higher fee accounts. | |
Potential conflicts of interest also may arise when a portfolio manager has personal investments in other accounts that may create an incentive to favor those accounts. As a general matter and subject to the Investment Manager’s Code of Ethics and certain limited exceptions, the Investment Manager’s investment professionals do not have the opportunity to invest in client accounts, other than the funds. | |
A portfolio manager who is responsible for managing multiple funds and/or accounts may devote unequal time and attention to the management of those Funds and/or accounts. The effects of this potential conflict may be more pronounced where Funds and/or accounts managed by a particular portfolio manager have different investment strategies. | |
A portfolio manager may be able to select or influence the selection of the broker/dealers that are used to execute securities transactions for the Funds. A portfolio manager’s decision as to the selection of broker/dealers could produce disproportionate costs and benefits among the Funds and the other accounts the portfolio manager manages. | |
A potential conflict of interest may arise when a portfolio manager buys or sells the same securities for a Fund and other accounts. On occasions when a portfolio manager considers the purchase or sale of a security to be in the best interests of a Fund as well as other accounts, the Investment Manager’s trading desk may, to the extent consistent with applicable laws and regulations, aggregate the securities to be sold or bought in order to obtain the best execution and lower brokerage commissions, if any. Aggregation of trades may create the potential for unfairness to a Fund or another account if a portfolio manager favors one account over another in allocating the securities bought or sold. In addition, although the Investment Manager has entered into a personnel sharing arrangement with Threadneedle, the Investment Manager and Threadneedle maintain separate trading operations for their clients. By maintaining separate trading operations in this manner, the Funds may forego certain opportunities including the aggregation of trades across certain accounts managed by Threadneedle. This could result in the Funds competing in the market with one or more accounts managed by Threadneedle for similar trades. In addition, it is possible that the separate trading desks of the Investment Manager and Threadneedle may be on opposite sides of a trade execution for a Fund at the same time. | |
“Cross trades,” in which a portfolio manager sells a particular security held by a Fund to another account (potentially saving transaction costs for both accounts), could involve a potential conflict of interest if, for example, a portfolio manager is permitted to sell a security from one account to another account at a higher price than an independent third party would pay. The Investment Manager and the Funds have adopted compliance procedures that provide that any transactions between a Fund and another account managed by the Investment Manager are to be made at a current market price, consistent with applicable laws and regulations. | |
Another potential conflict of interest may arise based on the different investment objectives and strategies of a Fund and other accounts managed by its portfolio manager(s). Depending on another account’s objectives and other factors, a portfolio manager may give advice to and make decisions for a Fund that may differ from advice given, or the timing or nature of decisions made, with respect to another account. A portfolio manager’s investment decisions are the product of many factors in addition to basic suitability for the particular account involved. Thus, a portfolio manager may buy or sell a particular security for certain accounts, and not for a Fund, even though it could have been bought or sold for the Fund at the same time. A portfolio manager also may buy a particular security for one or more accounts when one or more other accounts are selling the security (including short sales). There may be circumstances when a portfolio manager’s purchases or sales of portfolio securities for one or more accounts may have an adverse effect on other accounts, including the Funds. | |
To the extent a Fund invests in underlying Funds, a portfolio manager will be subject to the potential conflicts of interest described in (1) above. |
Statement of Additional Information – December 1, 2015 | 103 |
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A Fund’s portfolio manager(s) also may have other potential conflicts of interest in managing the Fund, and the description above is not a complete description of every conflict that could exist in managing the Fund and other accounts. Many of the potential conflicts of interest to which the Investment Manager’s portfolio managers are subject are essentially the same or similar to the potential conflicts of interest related to the Investment Management activities of the Investment Manager and its affiliates. |
(3) | AQR: Each of the portfolio managers is also responsible for managing other accounts in addition to the Fund, including other accounts of AQR, or its affiliates. Other accounts may include, without limitation, separately managed accounts for foundations, endowments, pension plans, and high net-worth families; registered investment companies; unregistered investment companies relying on either Section 3(c)(1) or Section 3(c)(7) of the 1940 Act (such companies are commonly referred to as “hedge funds”); foreign investment companies; and may also include accounts or investments managed or made by the portfolio managers in a personal or other capacity (“Proprietary Accounts”). Management of other accounts in addition to the Fund can present certain conflicts of interest, as described below. |
From time to time, potential conflicts of interest may arise between a portfolio manager’s management of the investments of the Fund, on the one hand, and the management of other accounts, on the other. The other accounts might have similar investment objectives or strategies as the Fund, or otherwise hold, purchase, or sell securities that are eligible to be held, purchased or sold by the Fund. Because of their positions with the Fund, the portfolio managers know the size, timing and possible market impact of the Fund’s trades. It is theoretically possible that the portfolio managers could use this information to the advantage of other accounts they manage and to the possible detriment of the Fund. |
A potential conflict of interest may arise as a result of a portfolio manager’s management of a number of accounts (including Proprietary Accounts) with similar investment strategies. Often, an investment opportunity may be suitable for both the Fund and other accounts, but may not be available in sufficient quantities for both the Fund and the other accounts to participate fully. Similarly, there may be limited opportunity to sell an investment held by the Fund and another account. In addition, different account guidelines and/or differences within particular investment strategies may lead to the use of different investment practices for portfolios with a similar investment strategy. AQR will not necessarily purchase or sell the same securities at the same time, same direction, or in the same proportionate amounts for all eligible accounts, particularly if different accounts have materially different amounts of capital under management by AQR, different amounts of investable cash available, different strategies, or different risk tolerances. As a result, although AQR manages numerous accounts and/or portfolios with similar or identical investment objectives, or may manage accounts with different objectives that trade in the same securities, the portfolio decisions relating to these accounts, and the performance resulting from such decisions, may differ from account to account. |
Whenever decisions are made to buy or sell securities by the Fund and one or more of the other accounts (including Proprietary Accounts) simultaneously, AQR or the portfolio manager may aggregate the purchases and sales of the securities and will allocate the securities transactions in a manner that it believes to be equitable under the circumstances. To this end, AQR has adopted policies and procedures that are intended to ensure that investment opportunities are allocated equitably among accounts over time. As a result of the allocations, there may be instances where the Fund will not participate in a transaction that is allocated among other accounts or the Fund may not be allocated the full amount of the securities sought to be traded. While these aggregation and allocation policies could have a detrimental effect on the price or amount of the securities available to the Fund from time to time, it is the opinion of AQR that the overall benefits outweigh any disadvantages that may arise from this practice. Subject to applicable laws and/or account restrictions, AQR may buy, sell or hold securities for other accounts while entering into a different or opposite investment decision for the Fund. |
AQR and the Fund’s portfolio managers may also face a conflict of interest where some accounts pay higher fees to AQR than others, such as by means of performance fees. Specifically, the entitlement to a performance fee in managing one or more accounts may create an incentive for AQR to take risks in managing assets that it would not otherwise take in the absence of such arrangements. Additionally, since performance fees reward AQR for performance in accounts which are subject to such fees, AQR may have an incentive to favor these accounts over those that have only fixed asset-based fees with respect to areas such as trading opportunities, trade allocation, and allocation of new investment opportunities. |
AQR has implemented specific policies and procedures (e.g., a code of ethics and trade allocation policies) that seek to address potential conflicts of interest that may arise in connection with the management of the Fund and other accounts and that are designed to ensure that all client accounts are treated fairly and equitably over time. |
(4) | BMO: A conflict of interest may arise as a result of a portfolio manager being responsible for multiple accounts, including the Fund, which may have different investment guidelines and objectives. In addition to the Fund, these accounts may include other mutual funds managed on an advisory or subadvisory basis, separate accounts, and collective trust accounts. An investment opportunity may be suitable for a Fund as well as for any of the other managed accounts. However, the investment may not be available in sufficient quantity for all of the accounts to participate fully. In addition, there may be limited opportunity to sell an investment held by a Fund and the other accounts. The other accounts may have similar |
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investment objectives or strategies as the Fund, they may track the same benchmarks or indexes as the Fund tracks, and they may sell securities that are eligible to be held, sold or purchased by the Fund. A portfolio manager may be responsible for accounts that have different advisory fee schedules, which may create the incentive for the portfolio manager to favor one account over another in terms of access to investment opportunities. A portfolio manager also may manage accounts whose investment objectives and policies differ from those of the Fund, which may cause the portfolio manager to effect trading in one account that may have an adverse effect on the value of the holdings within another account, including a Fund. |
To address and manage these potential conflicts of interest, BMO has adopted compliance policies and procedures to allocate investment opportunities and to ensure that each of its clients is treated on a fair and equitable basis. Such policies and procedures include, but are not limited to, trade allocation and trade aggregation policies, cross trading policies, portfolio manager assignment practices, and oversight by investment management, and/or compliance departments. |
(5) | Conestoga: Like other investment professionals with multiple clients, portfolio managers may face certain potential conflicts of interest in connection with managing both the portion of the Fund’s assets allocated to Conestoga (Conestoga’s Sleeve) and other accounts at the same time. Conestoga has adopted compliance policies and procedures that attempt to address certain of the potential conflicts that Conestoga’s portfolio managers face in this regard. Certain of those conflicts of interest are summarized below. |
The management of accounts with different advisory or sub-advisory fee rates and/or fee and expense structures may raise certain potential conflicts of interest for a portfolio manager by creating an incentive to favor higher fee, or higher profit margin accounts. | |
Potential conflicts of interest also may arise when a portfolio manager has personal investments in other accounts that may create an incentive to favor those accounts. A portfolio manager who is responsible for managing multiple funds and/or accounts may devote unequal time and attention to the management of those funds and/or accounts. The effects of this potential conflict may be more pronounced where funds and/or accounts managed by a particular portfolio manager have different investment strategies. | |
A portfolio manager may be able to select or influence the selection of the broker-dealers that are used to execute securities transactions for a fund. A portfolio manager’s decision as to the selection of broker-dealers could produce disproportionate costs and benefits among Conestoga’s Sleeve and the other accounts the portfolio manager manages. | |
A potential conflict of interest may arise when a portfolio manager buys or sells the same securities for the Conestoga’s Sleeve and other accounts. On occasions when a portfolio manager considers the purchase or sale of a security to be in the best interests of Conestoga’s Sleeve as well as other accounts, the Conestoga’s trading desk may, to the extent consistent with applicable laws and regulations, aggregate the securities to be sold or bought in order to obtain the best execution and lower brokerage commissions, if any. Aggregation of trades may create the potential for unfairness to Conestoga’s Sleeve or the Fund or another account if a portfolio manager favors one account over another in allocating the securities bought or sold. | |
“Cross trades,” in which a portfolio manager sells a particular security held by Conestoga’s Sleeve to another account (potentially saving transaction costs for both accounts), could involve a potential conflict of interest if, for example, a portfolio manager is permitted to sell a security from one account to another account at a higher price than an independent third party would pay. The Investment Manager has adopted compliance procedures that provide that any transactions between the Fund and another account managed by Conestoga are to be made at a current market price, consistent with applicable laws and regulations. | |
Another potential conflict of interest may arise based on the different investment objectives and strategies of Conestoga’s Sleeve and other accounts managed by its portfolio manager(s). Depending on another account’s objectives and other factors, a portfolio manager may give advice to and make decisions for Conestoga’s Sleeve that may differ from advice given, or the timing or nature of decisions made, with respect to another account. A portfolio manager’s investment decisions are the product of many factors in addition to basic suitability for the particular account involved. Thus, a portfolio manager may buy or sell a particular security for certain accounts, and not for Conestoga’s Sleeve, even though it could have been bought or sold for Conestoga’s Sleeve at the same time. A portfolio manager also may buy a particular security for one or more accounts when one or more other accounts are selling the security. There may be circumstances when a portfolio manager’s purchases or sales of portfolio securities for one or more accounts may have an adverse effect on other accounts, including the Fund. | |
The portfolio manager(s) also may have other potential conflicts of interest in managing Conestoga’s Sleeve, and the description above is not a complete description of every conflict that could exist in managing Conestoga’s Sleeve and other accounts. Many of the potential conflicts of interest to which the Conestoga’s portfolio managers are subject are essentially the same or similar to the potential conflicts of interest related to the investment management activities of the Investment Manager or other subadvisers of the Fund. |
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(6) | DGHM: The portfolio managers’ management of “other accounts” may give rise to potential conflicts of interest in connection with their management of the investments of the portion of the Fund’s assets allocated to DGHM (DGHM’s Sleeve), on the one hand, and the investments of the other accounts, on the other. The other accounts include hedge funds, separately managed private clients and discretionary 401(k) accounts (“Other Accounts”). The Other Accounts might have similar investment objectives as the Fund, be compared to the same index as the Fund, or otherwise hold, purchase, or sell securities that are eligible to be held, purchased, or sold by DGHM’s Sleeve. |
Knowledge of the Timing and Size of Fund Trades. A potential conflict of interest may arise as a result of the portfolio managers’ day-to-day management of DGHM’s Sleeve. The portfolio managers know the size and timing of trades for DGHM’s Sleeve and the Other Accounts, and may be able to predict the market impact of the DGHM’s Sleeve trades. It is theoretically possible that the portfolio managers could use this information to the advantage of Other Accounts they manage and to the possible detriment of DGHM’s Sleeve, or vice versa. | |
Investment Opportunities. DGHM provides investment supervisory services for a number of investment products that have varying investment guidelines. The same portfolio management team works across all investment products. Differences in the compensation structures of DGHM’s investment products may give rise to a conflict of interest by creating an incentive for DGHM to allocate the investment opportunities it believes might be the most profitable to the client accounts where it might benefit the most from the investment gains. |
(7) | EAM: The portfolio manager is responsible for managing other accounts invested in the same strategy as the portion of the Fund’s assets allocated to EAM (EAM’s Sleeve). These other accounts include separately managed accounts for pension funds. In addition, other EAM portfolio managers manage accounts which have similar investment strategies and may invest in some of the same securities as EAM’s Sleeve or the Fund. |
From time to time, potential conflicts of interest may arise between the portfolio manager’s management of the investments of EAM’s Sleeve, on the one hand, and the management of other accounts, on the other. For example, an investment opportunity may be suitable for both EAM’s Sleeve and other accounts, but may not be available in sufficient quantities for both EAM’s Sleeve and the other accounts to participate fully. Similarly, there may be limited opportunity to sell an investment held by EAM’s Sleeve and another account. Whenever decisions are made to buy or sell securities by EAM’s Sleeve and one or more of the other accounts simultaneously, EAM or the portfolio managers may aggregate the purchases and sales of the securities and will allocate the securities transactions in a manner that it believes to be equitable under the circumstances. As a result of the allocations, there may be instances when EAM’s Sleeve will not participate in a transaction that is allocated among other accounts or that may not be allocated the full amount of the securities sought to be traded. Another potential conflict may arise when a portfolio manager may have an incentive to allocate opportunities to an account where EAM and the portfolio manager have a greater financial incentive, such as a performance fee account. | |
EAM has implemented specific policies and procedures (e.g., a code of ethics and trade allocation policies) that seek to address these potential conflicts. |
(8) | Federated: As a general matter, certain conflicts of interest may arise in connection with a portfolio manager’s management of a fund’s investments, on the one hand, and the investments of other accounts for which the portfolio manager is responsible, on the other. For example, it is possible that the various accounts managed could have different investment strategies that, at times, might conflict with one another to the possible detriment of the Fund. Alternatively, to the extent that the same investment opportunities might be desirable for more than one account, possible conflicts could arise in determining how to allocate them. Other potential conflicts might include conflicts created by specific portfolio manager compensation arrangements, and conflicts relating to selection of brokers or dealers to execute fund portfolio trades and/or specific uses of commissions from Fund portfolio trades (for example, research, or “soft dollars”). Federated has adopted policies and procedures and has structured the portfolio managers’ compensation in a manner reasonably designed to safeguard the Fund from being negatively affected as a result of any such potential conflicts. |
(9) | Loomis Sayles: Conflicts of interest may arise in the allocation of investment opportunities and the allocation of aggregated orders among the funds and other accounts managed by the portfolio managers. A portfolio manager potentially could give favorable treatment to some accounts for a variety of reasons, including favoring larger accounts, accounts that pay higher fees, accounts that pay performance-based fees or accounts of affiliated companies. Such favorable treatment could lead to more favorable investment opportunities or allocations for some accounts. Loomis Sayles makes investment decisions for all accounts (including institutional accounts, mutual funds, hedge funds and affiliated accounts) based on each account’s availability of other comparable investment opportunities and Loomis Sayles’ desire to treat all accounts fairly and equitably over time. The goal of Loomis Sayles is to meet its fiduciary obligation with respect to all clients. Loomis Sayles maintains trade allocation and aggregation policies and procedures to address these potential conflicts. Conflicts of interest also may arise to the extent a portfolio manager short sells a stock in one client account but holds that stock long in other accounts, including the Fund, or sells a stock for some accounts while buying the stock for others, and through the use of “soft dollar arrangements.” |
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(10) | TCW: TCW’s portfolio managers could favor one account over another in allocating new investment opportunities that have limited supply, such as (by way of example but not limitation) initial public offerings and private placements. If, for example, an initial public offering that was expected to appreciate in value significantly shortly after the offering was allocated to a single account, that account may be expected to have better investment performance than other accounts that did not receive an allocation of a particular initial public offering. |
A TCW portfolio manager could favor one account over another in the order in which trades for the accounts are placed. If a TCW portfolio manager decides to purchase a security for more than one account in an aggregate amount that may influence the market price of the security, accounts that purchased or sold the security first may receive a more favorable price than accounts that made subsequent transactions. The less liquid the market for the security or the greater the percentage that the proposed aggregate purchases or sales represent of average daily trading volume, the greater the potential for accounts that make subsequent purchases or sales to receive a less favorable price. When a TCW portfolio manager intends to trade the same security on the same day for more than one account, the trades typically are “bunched,” which means that the trades for the individual accounts are aggregated and each account receives the same price. There are some types of accounts for which bunching may not be possible for contractual reasons. Circumstances may also arise in which the trader believes that bunching the orders may not result in the best possible price. Where those accounts or circumstances are involved, the TCW portfolio manager will place the order in a manner intended to result in as favorable a price as possible for such clients. | |
A TCW portfolio manager potentially could favor an account if that portfolio manager’s compensation is tied to the performance of that account to a greater degree than other accounts managed by the TCW portfolio manager. If, for example, the TCW portfolio manager receives a bonus based upon the performance of certain accounts relative to a benchmark while other accounts are disregarded for this purpose, the TCW portfolio manager may have a financial incentive to seek to have the accounts that determine the portfolio manager’s bonus achieve the best possible performance to the possible detriment of other accounts. Similarly, if TCW receives a performance-based advisory fee from an account, the TCW portfolio manager may have an incentive to favor that account, whether or not the performance of that account directly determines the portfolio manager’s compensation. This structure may create inherent pressure to allocate investments having a greater potential for higher returns to those accounts with higher performance fees. | |
A portfolio manager may have an incentive to favor an account if the TCW portfolio manager has a beneficial interest in the account, in order to benefit a large client or to compensate a client that had poor returns. For example, if the TCW portfolio manager held an interest in an investment partnership that was one of the accounts managed by the portfolio manager, the TCW portfolio manager would have an economic incentive to favor the account in which the portfolio manager held an interest. | |
TCW determines which broker to use to execute each order, consistent with its duty to seek best execution, and aggregates like orders where it believes doing so is beneficial to its client accounts. However, with respect to certain separate accounts, TCW may be limited by the clients or other constraints with respect to the selection of brokers or it may be instructed to direct trades through particular brokers. In these cases, TCW may place separate, non-simultaneous transactions for the Core Fixed Income and U.S. Fixed Income Funds and another account which may temporarily affect the market price of the security or the execution of the transaction to the detriment of one or the other. | |
If different accounts have materially and potentially conflicting investment objectives or strategies, a conflict of interest could arise. For example, if a TCW portfolio manager purchases a security for one account and sells the same security short for another account, such trading pattern may disadvantage either the account that is long or short. In making portfolio manager assignments, TCW seeks to avoid such potentially conflicting situations. However, where a TCW portfolio manager is responsible for accounts with differing investment objectives and policies, it is possible that the portfolio manager will conclude that it is in the best interest of one account to sell a portfolio security while another account continues to hold or increase the holding in such security. | |
TCW has in place a Code of Ethics designed to minimize conflicts of interest between clients and its investment personnel. TCW also reviews potential conflicts of interest through its Trading and Allocation Committee. |
(11) | Threadneedle: Threadneedle portfolio managers may manage one or more mutual funds as well as other types of accounts, including proprietary accounts, separate accounts for institutions, and other pooled investment vehicles. Portfolio managers make investment decisions for an account or portfolio based on its investment objectives and policies, and other relevant investment considerations. A portfolio manager may manage a separate account or other pooled investment vehicle whose fees may be materially greater than the management fees paid by the Fund and may include a performance-based fee. Management of multiple funds and accounts may create potential conflicts of interest relating to the allocation of investment opportunities, and the aggregation and allocation of trades. In addition, a portfolio manager’s responsibilities at |
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Threadneedle include working as a securities analyst. This dual role may give rise to conflicts with respect to making investment decisions for accounts that he/she manages versus communicating his/her analyses to other portfolio managers concerning securities that he/she follows as an analyst. | |
Threadneedle has a fiduciary responsibility to all of the clients for which it manages accounts. Threadneedle seeks to provide best execution of all securities transactions and to aggregate securities transactions and then allocate securities to client accounts in a fair and timely manner. Threadneedle has developed policies and procedures, including brokerage and trade allocation policies and procedures, designed to mitigate and manage the potential conflicts of interest that may arise from the management of multiple types of accounts for multiple clients. |
(12) | Wasatch: There may be certain inherent conflicts of interest that arise in connection with a portfolio manager’s management of the portion of the Fund’s assets allocated to Wasatch (Wasatch’s Sleeve) and the investments of any other fund or client accounts Wasatch or the respective portfolio managers also manages, including Cross Creek Capital, L.P., a pooled investment vehicle whose general partner is an indirect wholly-owned subsidiary of Wasatch and may receive a performance based fee from Cross Creek Capital, L.P. Such conflicts include allocation of investment opportunities among Wasatch’s Sleeve and other accounts managed by Wasatch or the portfolio manager; the aggregation of purchase and sale orders believed to be in the best interest of more than one account managed by Wasatch or the portfolio manager and the allocation of such orders across such accounts; and any soft dollar arrangements that Wasatch may have in place that could benefit Wasatch’s Sleeve and/or other accounts. Additionally, some funds or accounts managed by a portfolio manager may have different fee structures, including performance fees, which are, or have the potential to be, higher or lower than the fees paid by another fund or account. To minimize the effects of these inherent conflicts of interest, Wasatch has adopted and implemented policies and procedures, including trade aggregation and allocation procedures, that it believes are reasonably designed to mitigate the potential conflicts associated with managing portfolios for multiple clients, including the Fund, and seeks to ensure that no one client is intentionally favored at the expense of another. |
(13) | Water Island: The fact that the portfolio managers serve as both portfolio managers of the portion of the Fund’s assets allocated to Water Island (Water Island’s Sleeve) and the other account creates the potential for conflicts of interest. However, Water Island does not believe that their overlapping responsibilities or the various elements of their compensation present any material conflict of interest for the following reasons: |
■ | Water Island’s Sleeve and the other account are similarly managed; |
■ | Water Island follows strict and detailed written allocation procedures designed to allocate securities purchases and sales between the Funds and the other account in a fair and equitable manner; |
■ | Water Island has adopted policies limiting the ability of the portfolio managers to cross trade securities between Water Island’s Sleeve and other accounts; and |
■ | all allocations are subject to review by Water Island’s chief compliance officer. |
(14) | Columbia Management: Direct compensation is typically comprised of a base salary, and an annual incentive award that is paid either in the form of a cash bonus if the size of the award is under a specified threshold, or, if the size of the award is over a specified threshold, the award is paid in a combination of a cash bonus, an equity incentive award, and deferred compensation. Equity incentive awards are made in the form of Ameriprise Financial restricted stock, or for more senior employees both Ameriprise Financial restricted stock and stock options. The investment return credited on deferred compensation is based on the performance of specified Columbia Funds, in most cases including the Columbia Funds the portfolio manager manages. |
Base salary is typically determined based on market data relevant to the employee’s position, as well as other factors including internal equity. Base salaries are reviewed annually, and increases are typically given as promotional increases, internal equity adjustments, or market adjustments. | |
Annual incentive awards are variable and are based on (1) an evaluation of the employee’s investment performance and (2) the results of a peer and/or management review of the employee, which takes into account skills and attributes such as team participation, investment process, communication, and professionalism. Scorecards are used to measure performance of Columbia Funds and other accounts managed by the employee versus benchmarks and peer groups. Performance versus benchmark and peer group is generally weighted for the rolling one, three, and five year periods. One year performance is weighted 10%, three year performance is weighted 60%, and five year performance is weighted 30%. Relative asset size is a key determinant for fund weighting on a scorecard. Typically, weighting would be proportional to actual assets. |
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Consideration may also be given to performance in managing client assets in sectors and industries assigned to the employee as part of his/her investment team responsibilities, where applicable. For leaders who also have group management responsibilities, another factor in their evaluation is an assessment of the group’s overall investment performance. | |
Equity incentive awards are designed to align participants’ interests with those of the shareholders of Ameriprise Financial. Equity incentive awards vest over multiple years, so they help retain employees. | |
Deferred compensation awards are designed to align participants’ interests with the investors in the Columbia Funds and other accounts they manage. The value of the deferral account is based on the performance of Columbia Funds. Employees have the option of selecting from various Columbia Funds for their deferral account, however portfolio managers must allocate a minimum of 25% of their incentive awarded through the deferral program to the Columbia Fund(s) they manage. Deferrals vest over multiple years, so they help retain employees. | |
In addition to the annual incentive award described above, top performing portfolio managers may also receive additional equity awards with extended vesting terms. | |
Exceptions to this general approach to bonuses exist for certain teams and individuals. Funding for the bonus pool is determined by management and depends on, among other factors, the levels of compensation generally in the investment management industry taking into account investment performance (based on market compensation data) and both Ameriprise Financial and Columbia Management profitability for the year, which is largely determined by assets under management. | |
For all employees the benefit programs generally are the same, and are competitive within the Financial Services Industry. Employees participate in a wide variety of plans, including options in Medical, Dental, Vision, Health Care and Dependent Spending Accounts, Life Insurance, Long Term Disability Insurance, 401(k), and a cash balance pension plan. |
(15) | AQR: The compensation for each of the portfolio managers that are a Principal of AQR is in the form of distributions based on the net income generated by AQR and each Principal’s relative ownership in AQR. Net income distributions are a function of assets under management and performance of the funds and accounts managed by AQR. A Principal’s relative ownership in AQR is based on cumulative research, leadership and other contributions to AQR. There is no direct linkage between assets under management, performance and compensation. However, there is an indirect linkage in that superior performance tends to attract assets and thus increase revenues. Each portfolio manager is also eligible to participate in AQR’s 401(k) retirement plan which is offered to all employees of AQR. |
The compensation for the portfolio managers that are not Principals of AQR primarily consists of a fixed base salary and a discretionary bonus (“Total Compensation”). Total Compensation is reviewed at least annually under a formal review program and increases are granted on a merit basis. Job performance contributes significantly to the determination of any Total Compensation increase; other factors, such as seniority are also considered. A portfolio manager’s performance is not based on any specific fund’s or strategy’s assets under management or performance, but is affected by the overall performance of the firm. Each portfolio manager is also eligible to participate in AQR’s 401(k) retirement plan which is offered to all employees of AQR. |
(16) | BMO: Compensation for BMO’s portfolio managers consists of base salary, which is monitored to ensure competitiveness in the external marketplace. In addition to base salary, portfolio managers have a portion of their compensation tied to the investment performance of client accounts. The formula for each professional varies according to their level of portfolio responsibility and seniority. Investment professionals also may receive bonuses of restricted share units or other units linked to the performance of the Bank of Montreal, the indirect owner of BMO Asset Management Corp. |
(17) | Conestoga: Each of the Fund’s portfolio managers is a partner of Conestoga. As such, each portfolio manager receives a share of Conestoga’s annual profits, as specified in the manager’s partnership agreement with Conestoga, from Conestoga’s management of the Fund and all other accounts. |
(18) | DGHM: The portfolio managers’ compensation varies with the general success of the firm. Each portfolio manager’s compensation consists of a fixed annual salary, plus additional remuneration based on assets under management. The portfolio managers’ compensation is not directly linked to the performance of the Fund or other accounts managed by the firm, although positive performance and growth in managed assets are factors that may contribute to distributable profits and assets under management. |
(19) | EAM: The portfolio manager’s compensation is comprised of a base salary, a revenue allocation and firm profit allocation. The salary is in-line with industry specific benchmarks. The revenue allocation is based on firm-wide revenue while the profit allocation is based on firm-wide profitability. There is no direct linkage between performance and compensation, however, there is an indirect linkage as superior performance tends to attract and retain assets and consequently increase revenues and profitability. |
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(20) | Federated: The portfolio manager is paid a fixed base salary and a variable annual incentive. Base salary is determined within a market competitive position-specific salary range, based on the portfolio manager’s experience and performance. The annual incentive amount is determined based primarily on Investment Product Performance (IPP) and, to a lesser extent, Financial Success, and may be paid entirely in cash, or in a combination of cash and restricted stock of Federated Investors Inc. The total combined annual incentive opportunity is intended to be competitive in the market for this portfolio manager’s role. |
IPP is measured on a rolling one, three and five calendar year pre-tax gross total return basis vs. the Fund’s benchmark (i.e., Barclays Universal Index) and vs. the Fund's designated peer group of comparable accounts. Performance periods are adjusted if a portfolio manager has been managing an account for less than five years; accounts with less than one year of performance history under a portfolio manager may be excluded. As noted above, the portfolio manager also manages other accounts in addition to the Fund. Such other accounts may have different benchmarks, peer groups, IPP weightings and performance measures. For purposes of calculating the annual incentive amount, each fund or account is categorized into an IPP group. Within each performance measurement period and IPP group, IPP is calculated on the basis of an assigned weighting to each account or fund managed by the portfolio manager and included in the IPP groups. The weighting assigned to the Fund is greater than or equal to the weighting assigned to other accounts or funds used to determine IPP. Additionally, the portfolio manager serves on one or more Investment Teams that establish guidelines on various performance drivers (e.g., currency, duration, sector, volatility and/or yield curve) for taxable fixed income funds. A portion of the IPP score is based on Federated’s senior management’s assessment of team contributions. A portion of the IPP score may be adjusted on management’s assessment of overall contributions to fund performance and any other factors as deemed relevant. | |
The Financial Success category is designed to tie the portfolio manager’s bonus, in part, to Federated’s overall financial results. Funding for the Financial Success category may be determined on a product or asset class basis, as well as on corporate financial results. Senior Management determines individual Financial Success bonuses on a discretionary basis, considering overall contributions and any other factors deemed relevant. |
(21) | Loomis Sayles: Loomis Sayles believes that portfolio manager compensation should be driven primarily by the delivery of consistent and superior long-term performance for its clients. Portfolio manager compensation is made up primarily of three main components: base salary, variable compensation and a long-term incentive program. Although portfolio manager compensation is not directly tied to assets under management, a portfolio manager’s base salary and/or variable compensation potential may reflect the amount of assets for which the manager is responsible relative to other portfolio managers. Loomis Sayles also offers a profit sharing plan. Base salary is a fixed amount based on a combination of factors, including industry experience, firm experience, job performance and market considerations. Variable compensation is an incentive-based component and generally represents a significant multiple of base salary. Variable compensation is based on four factors: investment performance, profit growth of the firm, profit growth of the manager’s business unit and team commitment. Investment performance is the primary component of total variable compensation and generally represents at least 60% of the total for fixed-income managers and 70% for equity managers. The other three factors are used to determine the remainder of variable compensation, subject to the discretion of the Chief Investment Officer (“CIO”) and senior management. The CIO and senior management evaluate these other factors annually. |
Equity Managers. While mutual fund performance and asset size do not directly contribute to the compensation calculation, investment performance for equity managers is measured by comparing the performance of Loomis Sayles’ institutional composites to the performance of the applicable Morningstar peer group and/or the Lipper universe. Generally speaking the performance of the respective product’s fund is compared against the applicable Morningstar peer group and/or the Lipper universe. If the majority of the assets in the product are contained in the mutual fund that comparison will drive compensation. To the extent the majority of assets managed in the fund strategy are for institutional separate accounts, the eVestment Alliance institutional peer group will also be used as an additional comparison. In situations where substantially all of the assets for the strategy are institutional, the institutional peer group will be used as the primary method of comparison. A manager’s performance relative to the peer group for the 1, 3 and 5 year periods (or since the start of the manager’s tenure, if shorter) is used to calculate the amount of variable compensation payable due to performance. The 1 year may be eliminated in regards to the Large Cap Growth strategy. Longer-term performance (3 and 5 years or since the start of the manager’s tenure, if shorter) combined is weighted more than shorter-term performance (1 year). In addition, effective 2013, the performance measurement for equity compensation will incorporate a consistency metric using longer term (3, 5, etc.) rolling excess return compared to peer group over a sustained measurement period (5, 7, etc. years). The exact method may be adjusted to a product’s particular style. If a manager is responsible for more than one product, the rankings of each product are weighted based on either relative revenue or asset size of accounts represented in each product. The external benchmark used for the investment style utilized by the fund is the Russell 1000 Growth Index. |
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Loomis Sayles uses either an institutional peer group as a point of comparison for equity manager performance, a Morningstar universe and/or the Lipper universe. In cases where the institutional peer groups are used, Loomis Sayles believes they represent the most competitive product universe while closely matching the investment styles offered by the Loomis Sayles fund. | |
General. Mutual funds are not included in Loomis Sayles’ composites, so unlike other managed accounts, fund performance and asset size do not directly contribute to this calculation. However, each fund managed by Loomis Sayles employs strategies endorsed by Loomis Sayles and fits into the product category for the relevant investment style. Loomis Sayles may adjust compensation if there is significant dispersion among the returns of the composite and accounts not included in the composite. | |
Loomis Sayles has developed and implemented two distinct long-term incentive plans to attract and retain investment talent. The plans supplement existing compensation. The first plan has several important components distinguishing it from traditional equity ownership plans: |
■ | the plan grants units that entitle participants to an annual payment based on a percentage of company earnings above an established threshold; |
■ | upon retirement, a participant will receive a multi-year payout for his or her vested units; and |
■ | participation is contingent upon signing an award agreement, which includes a non-compete covenant. |
(22) | TCW: The overall objective of TCW’s compensation program for portfolio managers is to attract competent and expert investment professionals and to retain them over the long-term. Compensation is comprised of several components which, in the aggregate, are designed to achieve these objectives and to reward the portfolio managers for their contributions to the successful performance of the accounts they manage. Portfolio managers are compensated through a combination of base salary, profit sharing based compensation (“profit sharing”), bonus and equity incentive participation in TCW’s parent company (“equity incentives”). Profit sharing and equity incentives generally represent most of the portfolio managers’ compensation. In some cases, portfolio managers are eligible for discretionary bonuses. |
Salary. Salary is agreed to with managers at time of employment and is reviewed from time to time. It does not change significantly and often does not constitute a significant part of the portfolio manager’s compensation. | |
Profit Sharing. Profit sharing is linked quantitatively to a fixed percentage of net income relating to accounts in the investment strategy area for which the portfolio managers are responsible and is typically paid quarterly. In most cases, revenues are allocated to a pool and profit sharing compensation is paid out after the deduction of certain expenses (including base salaries) related to the strategy group. The profit sharing percentage used to compensate a portfolio manager for management of the fund is generally the same as that used to compensate portfolio managers for all other client accounts in the same strategy managed by MetWest or one of the other TCW-affiliated advisers (together, “the TCW Group”). Income included in a profit sharing pool will relate to the products managed by the portfolio manager. In some cases, the pool includes revenues related to more than one equity or fixed income product where the portfolio managers work together as a team, in which case each participant in the pool is entitled to profit sharing derived from all the included products. In certain cases, a portfolio manager may also participate in a profit sharing pool that includes revenues from products besides the strategies offered in the fund, including alternative investment products; the portfolio manager would be entitled to participate in such pool where he or she supervises, is involved in the management of, or is associated with a group, other members of which manage, such products. Profit sharing arrangements are generally the result of agreement between the portfolio manager and the TCW Group, although in some cases they may be discretionary based on supervisor allocation. |
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In some cases, the profit sharing percentage is subject to increase based on the relative pre-tax performance of the investment strategy composite returns, net of fees and expenses, to that of the benchmark. The measurement of performance relative to the benchmark can be based on single year or multiple year metrics, or a combination thereof. The benchmark used is the one associated with the fund managed by the portfolio manager as disclosed in the prospectus. Benchmarks vary from strategy to strategy but, within a given strategy, the same benchmark applies to all accounts, including the fund. | |
Discretionary Bonus/Guaranteed Minimums. In general, portfolio managers do not receive discretionary bonuses. However, in some cases bonuses may be paid on a discretionary basis out of a department profit sharing pool, as determined by the supervisor(s) in the department. In other cases where portfolio managers do not receive profit sharing or where the company has determined the combination of salary and profit sharing does not adequately compensate the portfolio manager, discretionary bonuses may be paid by the TCW Group. Also, pursuant to contractual arrangements, some portfolio managers may be entitled to a mandatory bonus if the sum of their salary and profit sharing does not meet certain minimum thresholds. | |
Equity Incentives. Many portfolio managers participate in equity incentives based on overall firm performance of the TCW Group and its affiliates, through ownership or participation in restricted unit plans that vest over time or unit appreciation plans of TCW’s parent company. The plans include the Fixed Income Retention Plan, Restricted Unit Plan and 2013 Equity Unit Incentive Plan. | |
Under the Fixed Income Retention Plan, certain portfolio managers in the fixed income area were awarded cash and/or partnership units in TCW’s parent company, either on a contractually-determined basis or on a discretionary basis. Awards under this plan were made in 2010 that vest over a period of time and other awards are granted annually. | |
Under the Restricted Unit Plan, certain portfolio managers in the fixed income and equity areas were awarded partnership units in the TCW’s parent company. Awards under this plan vest over time. Vesting is in part dependent on satisfaction of performance criteria. | |
Under the 2013 Equity Unit Incentive Plan, certain portfolio managers in the fixed income and equity areas are awarded options to acquire partnership units in the TCW’s parent company with a strike price equal to the fair market value of the option at the date of grant. The options granted under the plan are subject to vesting and other conditions. | |
Other Plans and Compensation Vehicles. Portfolio managers may also elect to participate in the TCW Group’s 401(k) plan, to which they may contribute a portion of their pre—and post-tax compensation to the plan for investment on a tax-deferred basis. |
(23) | Threadneedle: To align the interests of its investment staff with those of Threadneedle’s clients, the remuneration plan for senior individuals comprises basic salary and an annual profit share scheme (linked to individual performance and the profitability of the company) delivered partly as a cash incentive, and partly as a deferred long-term incentive which Threadneedle believes encourages longevity of service, split equally between Restricted Stock Units in Ameriprise Financial and reinvestment into a suite of Threadneedle’s own funds. Investment performance is a major factor within that performance appraisal, judged relative to each fund’s targets on a 1- and 3-year basis, with a bias towards 3-year performance in order to incentivize delivery of longer-term performance. Threadneedle Fund Deferral program, through which the deferral is notionally invested in a number of Threadneedle funds, vesting in three equal parts over three years, provides a strong tie for Threadneedle’s investment professionals to client interests. |
The split between each component within the remuneration package varies between investment professionals and will be dependent upon performance and the type of funds they manage. | |
Incentives are devised to reward: |
■ | investment performance and Threadneedle client requirements, in particular the alignment with Threadneedle clients through a mandatory deferral into Threadneedle’s own products; and |
■ | team cooperation and values. |
■ | performance of the individual’s own funds and research recommendations; |
■ | performance of all portfolios in the individual’s team; |
■ | overall contribution to the wider thinking and success of the investment team, for example, idea generation, interaction with colleagues and commitment to assist with the sales effort; and |
■ | Threadneedle performance. |
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■ | inter-team discussions, including asset allocation, global sector themes and weekly investment meetings; |
■ | intra-team discussions, stock research and investment insights; and |
■ | a fund manager’s demonstration of Threadneedle values, as part of Threadneedle’s team-based investment philosophy. |
(24) | Wasatch: As of September 30, 2013, the Wasatch’s Compensation Committee and Executive Committee reviewed and determined its portfolio managers’ compensation. The committees may use independent third party investment industry compensation survey results in evaluating competitive market compensation for its investment professionals. The committees may also consult with professional industry recruiters. The elements of total compensation for the portfolio managers are base salary, performance-based bonus, profit sharing and other benefits. Wasatch has balanced the components of pay to provide portfolio managers with an incentive to focus on both shorter and longer term performance. By design, portfolio manager compensation levels fluctuate — both up and down — with the relative investment performance of the Funds that they manage. |
Each portfolio manager is paid a base salary, a potential bonus based on performance, potential deferred bonus grants based on performance, and possibly stock dividends. | |
Base Salary — Each portfolio manager is paid a fixed base salary depending upon their tenure. | |
Performance Bonus — A large portion of a portfolio manager’s potential compensation is in the form of a performance bonus. Performance bonus is based on pre-tax performance. At the end of each year, the Board of Directors will allocate a bonus pool that will loosely mirror firm profits net of stock buybacks and deferred compensation payouts. The majority of this bonus pool will be allocated to portfolio managers based on the 1, 3- and 5-year performance of their portfolios, which will provide them with significant economic incentives for achieving top quartile performance relative to the applicable Fund’s performance benchmark over both the short and long term. Peer groups are also utilized to evaluate performance over both the short and long term. Portfolio managers and research analysts are not paid a commission for the solicitation or acquisition of new clients or the retention of existing clients. However, the amount of revenue generated by each product is overlaid on performance to determine the size of each portfolio manager’s bonus (e.g., if performance were equal, a portfolio manager on a higher revenue product would receive a larger bonus than one on a smaller revenue product). | |
For portfolio managers who manage separate accounts and mutual funds as well, they have bonus components calculated based on the performance of each individual product relative to its peer group. Revenue is again used as an element in converting performance results into the bonus amount. | |
Portfolio managers are also rewarded for their stock selection contributions to other products and their impact on the overall success of the research team. This incentive is consistent with Wasatch’s collaborative team-based approach to portfolio management. | |
Deferred Bonus Grants — Portfolio managers are also eligible for deferred bonus grants, which are payable six years from the date of the grant, with their value directly tied to Wasatch’s revenues. Each portfolio manager’s grant size will be based on individual performance factors similar to those used to determine the annual performance bonus. | |
Stock/Dividends — All of the portfolio managers are shareholders of Wasatch. The relative amount of stock owned by each portfolio manager is at the discretion of Wasatch’s Board and will evolve over time, with bigger long-term contributors holding higher levels of ownership. New portfolio manager stock grants typically vest over a five-year period, with the vesting dependent on the performance of the fund(s) managed by the portfolio manager. | |
It is possible that certain profits of Wasatch could be paid out to shareholders through a stock dividend. However, there are no current plans or expectations for such a dividend. | |
Other Benefits — Portfolio managers are also eligible to participate in broad-based benefit plans offered generally to Wasatch’s full-time employees, including 401(k), health and other employee benefit plans |
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(25) | Water Island: The portfolio managers are compensated in various forms. The following table outlines the forms of compensation paid to the portfolio managers as of May 31, 2013. |
Form of Compensation | Source of Compensation | Method Used to Determine Compensation |
Salary/Bonus (paid in cash) | Water Island | Each portfolio manager receives compensation that is a combination of salary and a bonus based on the profitability of Water Island. |
Funds | Asset Levels (in Billions) | Applicable Fee Rate |
Balanced Fund; Contrarian Core Fund; Global Dividend Opportunity Fund; Mid Cap Growth Fund | First $0.5 | 0.060% |
$0.5 to $1.0 | 0.055% | |
$1.0 to $3.0 | 0.050% | |
$3.0 to $12.0 | 0.040% | |
Over $12.0 | 0.030% | |
AMT-Free Intermediate Muni Bond Fund; AP – Core Plus Bond Fund; Strategic Income Fund | First $0.5 | 0.070% |
$0.5 to $1.0 | 0.065% | |
$1.0 to $3.0 | 0.060% | |
$3.0 to $12.0 | 0.050% | |
Over $12.0 | 0.040% | |
AMT-Free CT Intermediate Muni Bond Fund; AMT-Free MA Intermediate Muni Bond Fund; AMT-Free NY Intermediate Muni Bond Fund; NY Tax-Exempt Fund; CA Tax-Exempt Fund; | First $0.25 | 0.070% |
$0.25 to $1.0 | 0.065% | |
$1.0 to $3.0 | 0.060% | |
$3.0 to $12.0 | 0.050% | |
Over $12.0 | 0.040% | |
AP – Alternative Strategies Fund; AP – Small Cap Equity Fund; Small Cap Core Fund; Small Cap Growth Fund I | First $0.5 | 0.080% |
$0.5 to $1.0 | 0.075% | |
$1.0 to $3.0 | 0.070% | |
$3.0 to $12.0 | 0.060% | |
Over $12.0 | 0.050% |
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Funds | Asset Levels (in Billions) | Applicable Fee Rate |
Emerging Markets Fund | First $0.75 | 0.080% |
$0.75 to $1.0 | 0.075% | |
$1.0 to $3.0 | 0.070% | |
Over $3.0 | 0.060% | |
Global Energy and Natural Resources Fund | First $1.0 | 0.060% |
$1.0 to $3.0 | 0.050% | |
Over $3.0 | 0.040% | |
Global Technology Growth Fund | All assets | 0% |
Greater China Fund | First $1.0 | 0.080% |
$1.0 to $1.5 | 0.070% | |
$1.5 to $3.0 | 0.060% | |
$3.0 to $6.0 | 0.050% | |
Over $6.0 | 0.040% | |
Real Estate Equity Fund | First $0.5 | 0.060% |
$0.5 to $1.0 | 0.055% | |
$1.0 to $3.0 | 0.050% | |
Over $3.0 | 0.040% |
Administrative Services Fees | |||
2015 | 2014 | 2013 | |
For Funds with fiscal period ending January 31 | |||
Diversified Real Return Fund | $2,157 (a) | N/A | N/A |
For Funds with fiscal period ending March 31 | |||
AP – Growth Fund | 938,124 | $788,903 | $520,929 (b) |
Pacific/Asia Fund | 214,928 | 246,870 | 231,116 |
Select Large Cap Growth Fund | 3,122,847 | 2,844,401 | 2,478,680 |
For Funds with fiscal period ending April 30 | |||
Bond Fund | 492,269 | 648,503 | 948,292 |
Corporate Income Fund | 942,806 | 923,677 | 951,612 |
Intermediate Bond Fund | 2,202,786 | 2,670,960 | 1,979,462 |
Multi-Asset Income Fund | 4,748 (c) | N/A | N/A |
Small Cap Value Fund I | 930,547 | 1,100,362 | 1,173,360 |
U.S. Treasury Index Fund | 976,955 | 946,749 | 1,202,784 |
For Funds with fiscal period ending May 31 | |||
Adaptive Alternatives Fund | 43,808 (d) | N/A | N/A |
Adaptive Risk Allocation Fund | 149,017 | 14,195 | 7,391 (e) |
Diversified Absolute Return Fund | 23,286 (f) | N/A | N/A |
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Administrative Services Fees | |||
2015 | 2014 | 2013 | |
Dividend Income Fund | $3,998,779 | $3,874,276 | $3,225,004 |
HY Municipal Fund | 542,532 | 514,436 | 663,990 |
For Funds with fiscal period ending July 31 | |||
AMT-Free OR Intermediate Muni Bond Fund | 305,465 | 298,874 | 336,536 |
Global ILB Plus Fund | 3,655 | 1,503 (g) | N/A |
Large Cap Growth Fund | 1,688,311 | 1,574,915 | 1,399,749 |
Tax-Exempt Fund | 2,394,304 | 2,389,135 | 2,709,174 |
U.S. Social Bond Fund | 3,773 (h) | N/A | N/A |
Ultra Short Term Bond Fund | 0 | 0 | 0 |
2014 | 2013 | 2012 | |
For Funds with fiscal period ending August 31 | |||
AP – Alternative Strategies Fund | 580,432 | 447,084 | 123,209 (i) |
AP – Core Plus Bond Fund | 2,434,558 | 2,681,881 | 893,526 (j) |
AP – Small Cap Equity Fund | 524,224 | 389,342 | 105,377 (j) |
Balanced Fund | 1,003,963 | 763,256 | 626,931 |
Contrarian Core Fund | 1,980,665 | 1,391,706 | 906,997 (k) |
Emerging Markets Fund | 1,030,737 | 631,189 | 619,432 (l) |
Global Dividend Opportunity Fund | 527,055 | 460,691 | 466,699 |
Global Energy and Natural Resources Fund | 228,506 | 257,079 | 646,021 (l) |
Global Technology Growth Fund | 0 | 0 | 0 |
Greater China Fund | 109,539 | 168,613 | 178,828 |
Mid Cap Growth Fund | 1,364,213 | 1,226,218 | 1,078,839 |
Small Cap Core Fund | 915,159 | 801,561 | 602,264 (k) |
Small Cap Growth Fund I | 989,666 | 894,140 | 814,772 |
Value and Restructuring Fund | 1,230,319 | 1,430,949 | 5,527,725 (l) |
For Funds with fiscal period ending October 31 | |||
AMT-Free CT Intermediate Muni Bond Fund | 120,529 | 141,313 | 151,451 |
AMT-Free Intermediate Muni Bond Fund | 1,327,108 | 1,606,395 | 1,665,246 |
AMT-Free MA Intermediate Muni Bond Fund | 208,051 | 242,345 | 258,185 |
AMT-Free NY Intermediate Muni Bond Fund | 177,279 | 212,901 | 223,123 |
CA Tax-Exempt Fund | 316,431 | 354,853 | 369,822 |
NY Tax-Exempt Fund | 119,403 | 133,193 | 134,440 |
Strategic Income Fund | 1,406,311 | 1,673,890 | 2,142,208 (m) |
For Funds with fiscal period ending December 31 | |||
Real Estate Equity Fund | 324,853 | 351,085 | 338,092 |
(a) | For the period from March 11, 2014 (commencement of operations) to January 31, 2015. |
(b) | For the period from April 20, 2012 (commencement of operations) to March 31, 2013. |
(c) | For the period from March 27, 2015 (commencement of operations) to April 30, 2015. |
(d) | For the period from January 27, 2015 (commencement of operations) to May 31, 2015. |
(e) | For the period from June 19, 2012 (commencement of operations) to May 31, 2013. |
(f) | For the period from February 19, 2015 (commencement of operations) to May 31, 2015. |
(g) | For the period from March 12, 2014 (commencement of operations) to July 31, 2014. |
(h) | For the period from March 26, 2015 (commencement of operations) to July 31, 2015. |
(i) | For the period from April 23, 2012 (commencement of operations) to August 31, 2012. |
(j) | For the period from April 20, 2012 (commencement of operations) to August 31, 2012. |
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(k) | Contrarian Core Fund and Small Cap Core Fund changed their fiscal year ends in 2012 from September 30 to August 31. For the fiscal year ended 2012, the information shown is for the period from October 1, 2011 to August 31, 2012. For the fiscal year ended 2011, the administrative services fees paid were $652,775 and $563,842, respectively. |
(l) | Emerging Markets Fund, Global Energy and Natural Resources Fund and Value and Restructuring Fund changed their fiscal year ends in 2012 from March 31 to August 31. For the fiscal year ended 2012, the information shown is for the 17-month period from April 1, 2011 to August 31, 2012. For the fiscal year ended March 31, 2012, Emerging Markets Fund paid administrative services fees of $463,603, Global Energy and Natural Resources Fund paid administrative services fees of $519,521, and Value and Restructuring Fund paid administrative services fees of $4,735,917. For the fiscal period from April 1, 2012 to August 31, 2012, Emerging Markets Fund paid administrative services fees of $155,829, Global Energy and Natural Resources Fund paid administrative services fees of $126,500, and Value and Restructuring Fund paid administrative services fees of $791,808. For the fiscal years ended 2011, the information shown is from April 1, 2010 to March 31, 2011. For the fiscal year from ended March 31, 2011, the administrion fees paid were $722,394 for Emerging Markets Fund, $970,041 for Global Energy and Natural Resources Funds and $9,492,452 for Value and Restructuring Fund. |
(m) | Strategic Income Fund changed its fiscal year end in 2012 from May 31 to October 31. For the fiscal year ended 2012, the information shown is for the 17-month period from June 1, 2011 to October 31, 2012. For the fiscal year ended May 31, 2012, Strategic Income Fund paid administrative services fees of $1,450,327. For the fiscal period from June 1, 2012 to October 31, 2012, Strategic Income Fund paid administrative services fees of $691,881. |
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Sales Charges Paid to Distributor | Amount Retained by Distributor After Paying Commissions | |||||
Fund | 2015 | 2014 | 2013 | 2015 | 2014 | 2013 |
For Funds with fiscal period ending January 31 | ||||||
Diversified Real Return Fund | $0 (a) | N/A | N/A | $0 (a) | N/A | N/A |
For Funds with fiscal period ending March 31 | ||||||
AP – Growth Fund | 0 | $0 | $0 (b) | 0 | $0 | $0 (b) |
Pacific/Asia Fund | 7,352 | 5,038 | 3,385 | 1,015 | 716 | 481 |
Select Large Cap Growth Fund | 1,136,315 | 1,763,649 | 537,817 | 148,871 | 249,119 | 73,612 |
For Funds with fiscal period ending April 30 | ||||||
Bond Fund | 42,181 | 39,971 | 104,298 | 6,096 | 6,105 | 15,841 |
Corporate Income Fund | 80,500 | 141,793 | 313,196 | 11,606 | 19,858 | 45,617 |
Intermediate Bond Fund | 279,465 | 262,066 | 182,479 | 41,400 | 35,479 | 24,806 |
Multi-Asset Income Fund | 0 (c) | N/A | N/A | 0 (c) | N/A | N/A |
Small Cap Value Fund I | 33,869 | 43,299 | 39,051 | 4,558 | 5,815 | 4,518 |
U.S. Treasury Index Fund | 14,959 | 23,853 | 56,927 | 2,002 | 2,907 | 7,162 |
For Funds with fiscal period ending May 31 | ||||||
Adaptive Alternatives Fund | 9,733 (d) | N/A | N/A | 1,415 (d) | N/A | N/A |
Adaptive Risk Allocation Fund | 616,767 | 8,014 | 28,521 (e) | 87,576 | 1,120 | 4,053 (e) |
Diversified Absolute Return Fund | 0 (f) | N/A | N/A | 0 (f) | N/A | N/A |
Dividend Income Fund | 1,603,065 | 2,273,504 | 2,729,806 | 222,271 | 312,175 | 378,699 |
HY Municipal Fund | 361,055 | 157,293 | 239,037 | 52,236 | 23,185 | 34,324 |
For Funds with fiscal period ending July 31 | ||||||
AMT-Free OR Intermediate Muni Bond Fund | 72,678 | 97,659 | 119,800 | 10,694 | 13,598 | 15,501 |
Global ILB Plus Fund | N/A | N/A | N/A | N/A | N/A | N/A |
Large Cap Growth Fund | 1,005,649 | 753,732 | 797,355 | 141,766 | 105,780 | 110,928 |
Tax-Exempt Fund | 1,557,740 | 1,198,509 | 2,021,887 | 231,871 | 174,336 | 299,142 |
U.S. Social Bond Fund | 0 (g) | N/A | N/A | 0 (g) | N/A | N/A |
Ultra Short Term Bond Fund | N/A | N/A | N/A | N/A | N/A | N/A |
2014 | 2013 | 2012 | 2014 | 2013 | 2012 | |
For Funds with fiscal period ending August 31 | ||||||
AP – Alternative Strategies Fund | 0 | 0 | 0 (h) | 0 | 0 | 0 (h) |
AP – Core Plus Bond Fund | 0 | 0 | 0 (i) | 0 | 0 | 0 (i) |
AP – Small Cap Equity Fund | 0 | 0 | 0 (i) | 0 | 0 | 0 (i) |
Balanced Fund | 3,027,922 | 1,853,350 | 1,214,741 | 426,600 | 260,322 | 169,384 |
Contrarian Core Fund | 2,420,284 | 1,287,465 | 462,723 (j) | 335,748 | 180,993 | 63,901 (j) |
Emerging Markets Fund | 298,791 | 258,706 | 71,055 (k) | 41,913 | 36,690 | 9,766 (k) |
Global Dividend Opportunity Fund | 114,351 | 137,131 | 48,802 | 15,789 | 18,503 | 5,484 |
Global Energy and Natural Resources Fund | 130,325 | 106,922 | 282,368 (k) | 18,065 | 15,157 | 38,842 (k) |
Global Technology Growth Fund | 157,172 | 54,778 | 34,208 | 21,485 | 7,167 | 3,425 |
Greater China Fund | 42,848 | 39,470 | 54,633 | 5,459 | 4,664 | 4,916 |
Mid Cap Growth Fund | 324,615 | 170,360 | 121,192 | 45,884 | 23,292 | 15,365 |
Small Cap Core Fund | 134,084 | 80,922 | 102,172 (j) | 19,057 | 11,068 | 13,925 (j) |
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Sales Charges Paid to Distributor | Amount Retained by Distributor After Paying Commissions | |||||
2014 | 2013 | 2012 | 2014 | 2013 | 2012 | |
Small Cap Growth Fund I | $37,109 | $19,592 | $13,221 | $5,165 | $2,556 | $1,222 |
Value and Restructuring Fund | 32,716 | 34,462 | 79,112 (k) | 4,662 | 4,785 | 9,468 (k) |
For Funds with fiscal period ending October 31 | ||||||
AMT-Free CT Intermediate Muni Bond Fund | 8,733 | 14,854 | 12,392 | 1,196 | 2,003 | 1,773 |
AMT-Free Intermediate Muni Bond Fund | 123,677 | 164,871 | 195,666 | 16,982 | 21,099 | 27,301 |
AMT-Free MA Intermediate Muni Bond Fund | 23,261 | 16,645 | 41,361 | 3,267 | 1,890 | 5,135 |
AMT-Free NY Intermediate Muni Bond Fund | 24,769 | 32,757 | 42,966 | 3,480 | 3,307 | 5,700 |
CA Tax-Exempt Fund | 140,634 | 181,538 | 280,050 | 19,514 | 25,219 | 39,516 |
Global Unconstrained Bond Fund(l) | N/A | N/A | N/A | N/A | N/A | N/A |
NY Tax-Exempt Fund | 92,518 | 96,722 | 165,603 | 13,563 | 14,342 | 25,021 |
Strategic Income Fund(m) | 764,465 | 1,347,525 | 2,596,739 | 112,885 | 187,155 | 386,926 |
For Funds with fiscal period ending December 31 | ||||||
Real Estate Equity Fund | 148,666 | 189,469 | 155,158 | 20,816 | 26,128 | 21,577 |
(a) | For the period from March 11, 2014 (commencement of operations) to January 31, 2015. |
(b) | For the period from April 20, 2012 (commencement of operations) to March 31, 2013. |
(c) | For the period from March 27, 2015 (commencement of operations) to April 30, 2015. |
(d) | For the period from January 27, 2015 (commencement of operations) to May 31, 2015. |
(e) | For the period from June 19, 2012 (commencement of operations) to May 31, 2013. |
(f) | For the period from February 19, 2015 (commencement of operations) to May 31, 2015. |
(g) | For the period from March 26, 2015 (commencement of operations) to July 31, 2015. |
(h) | For the period from April 23, 2012 (commencement of operations) to August 31, 2012. |
(i) | For the period from April 20, 2012 (commencement of operations) to August 31, 2012. |
(j) | Contrarian Core Fund and Small Cap Core Fund changed their fiscal year ends in 2012 from September 30 to August 31. For the fiscal year ended 2012, the information shown is for the period from October 1, 2011 to August 31, 2012. |
(k) | Emerging Markets Fund, Global Energy and Natural Resources Fund and Value and Restructuring Fund changed their fiscal year ends in 2012 from March 31 to August 31. For the fiscal year ended 2012, the information shown is for the 17-month period from April 1, 2011 to August 31, 2012. For the fiscal year ended March 31, 2012, Emerging Markets Fund paid sales charges of $50,159, of which $7,084 was retained by the Distributor, Global Energy and Natural Resources Fund paid sales charges of $237,223, of which $32,840 was retained by the Distributor, and Value and Restructuring Fund paid sales charges of $66,141, of which $7,846 was retained by the Distributor. For the fiscal period from April 1, 2012 to August 31, 2012, Emerging Markets Fund paid sales charges of $20,896, of which $2,682 was retained by the Distributor, Global Energy and Natural Resources Fund paid sales charges of $45,145, of which $6,002 was retained by the Distributor, and Value and Restructuring Fund paid sales charges of $12,971 of which $1,622 was retained by the Distributor. |
(l) | The Fund commenced operations on June 30, 2015, and therefore has no reporting information for periods prior to such date. |
(m) | Strategic Income Fund changed its fiscal year end in 2012 from May 31 to October 31. For the fiscal year ended 2012, the information shown is for the 17-month period from June 1, 2011 to October 31, 2012. For the fiscal year ended May 31, 2012, Strategic Income Fund paid sales charges of $1,790,300, of which $268,059 was retained by the Distributor. For the fiscal period from June 1, 2012 to October 31, 2012, Strategic Income Fund paid sales charges of $806,439, of which $118,867 was retained by the Distributor. |
Distribution Fee | Service Fee | Combined Total | |
Class A | up to 0.10% | 0.25% | Up to 0.25%(a)(b) |
Class A for Active Portfolio Funds | up to 0.25% | up to 0.25% | 0.25% (c) |
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Distribution Fee | Service Fee | Combined Total | |
Class B | 0.75% | 0.25% | 1.00% (b) |
Class C | 0.75% | 0.25% | 1.00% (b)(d) |
Class E | 0.10% | 0.25% | 0.35% |
Class F | 0.75% | 0.25% | 1.00% |
Class I | None | None | None |
Class K | None | None (e) | None (e) |
Class R | 0.50% | — (f) | 0.50% |
Class R4 | None | None | None |
Class R5 | None | None | None |
Class T | None | 0.50% (g) | 0.50% (g) |
Class W | up to 0.25% | up to 0.25% | 0.25% |
Class Y | None | None | None |
Class Z | None | None | None |
Shares of Ultra Short Term Bond Fund | None | None | None |
(a) | As shown in the table below, the maximum distribution and service fees of Class A shares varies among the Funds. |
Funds | Class A Distribution Fee | Class A Service Fee | Class A Combined Total |
Adaptive Alternatives Fund, Adaptive Risk Allocation Fund, AMT-Free CT Intermediate Muni Bond Fund, AMT-Free MA Intermediate Muni Bond Fund, AMT-Free NY Intermediate Muni Bond Fund, Bond Fund, CA Tax-Exempt Fund, Corporate Income Fund, Diversified Absolute Return Fund, Diversified Real Return Fund; Emerging Markets Fund, Global Dividend Opportunity Fund, Global Energy and Natural Resources Fund, Global Unconstrained Bond Fund, Greater China Fund, Multi-Asset Income Fund, NY Tax-Exempt Fund, Pacific/Asia Fund, Select Large Cap Growth Fund, Small Cap Value Fund I, Strategic Income Fund, U.S. Social Bond Fund, U.S. Treasury Index Fund and Value and Restructuring Fund | — | 0.25% | 0.25% |
AMT-Free Intermediate Muni Bond Fund, HY Municipal Fund and Tax-Exempt Fund | — | 0.20% | 0.20% |
AMT-Free OR Intermediate Muni Bond Fund, Balanced Fund, Contrarian Core Fund, Dividend Income Fund, Global Technology Growth Fund, Intermediate Bond Fund, Large Cap Growth Fund, Mid Cap Growth Fund, Real Estate Equity Fund, Small Cap Core Fund and Small Cap Growth Fund I | up to 0.10% | up to 0.25% | Up to 0.35%; these Funds may pay distribution and service fees up to a maximum of 0.35% of their average daily net assets attributable to Class A shares but currently limit such fees to an aggregate fee of not more than 0.25% |
(b) | The annual service fee for Class A, Class B and Class C shares of HY Municipal Fund, AMT-Free Intermediate Muni Bond Fund and Tax-Exempt Fund may equal up to 0.20% of the average daily net asset value of all shares of such Fund class. The annual distribution fee for Class B and Class C shares for AMT-Free Intermediate Muni Bond Fund shall be 0.65% of the average daily net assets of the Fund’s Class B and Class C shares. The Distributor has voluntarily agreed to waive the Service Fee for Class A, Class B and Class C shares of U.S. Treasury Index Fund so that the Service Fee does not exceed 0.15% annually. This arrangement may be modified by the Distributor at any time. |
(c) | Class A shares of Active Portfolio Funds may pay distribution and service fees up to a maximum of 0.25% of the Fund’s average daily net assets attributable to Class A shares (comprised of up to 0.25% for distribution services and up to 0.25% for shareholder liaison services). |
(d) | The Distributor has voluntarily agreed to waive a portion of the distribution fee for Class C shares of the following Funds so that the distribution fee does not exceed the specified percentage annually: 0.45% for AMT-Free CT Intermediate Muni Bond Fund, AMT-Free MA Intermediate Muni Bond Fund, AMT-Free NY Intermediate Muni Bond Fund, AMT-Free OR Intermediate Muni Bond Fund, CA Tax-Exempt Fund and NY Tax-Exempt Fund; 0.60% for Corporate Income Fund; 0.65% for HY Municipal Fund and Tax-Exempt Fund; and 0.70% for U.S. Treasury Index Fund. These arrangements may be modified or terminated by the Distributor at any time. |
Statement of Additional Information – December 1, 2015 | 120 |
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(e) | Under a Plan Administration Services Agreement, the Funds’ Class K shares pay for plan administration services. These fees for Class K shares are not paid pursuant to a Rule 12b-1 plan. See Investment Management and Other Services – Other Services Provided – Plan Administration Services for more information. |
(f) | Class R shares pay a distribution fee pursuant to a Fund’s distribution (Rule 12b-1) plan for Class R shares. The Funds do not have a shareholder service plan for Class R shares. |
(g) | The shareholder servicing fees for Class T shares are up to 0.50% of average daily net assets attributable to Class T shares for equity Funds and 0.40% for fixed income Funds. In general, the Funds currently limit such fees to a maximum of 0.25% for equity Funds and 0.15% for fixed income Funds. See Class T Shares Shareholder Service Fees below for more information. |
Statement of Additional Information – December 1, 2015 | 121 |
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Fund | Class A | Class B | Class C | Class R | Class T | Class W |
For Funds with fiscal period ending January 31 | ||||||
Diversified Real Return Fund | $22 (a) | N/A | $107 (a) | N/A | N/A | $15 (b) |
For Funds with fiscal period ending March 31 | ||||||
AP – Growth Fund | 4,315,618 | N/A | N/A | N/A | N/A | N/A |
Pacific/Asia Fund | 5,076 | N/A | 4,127 | N/A | N/A | 6 |
Select Large Cap Growth Fund | 3,677,732 | N/A | 2,050,521 | $105,410 | N/A | 99,150 |
For Funds with fiscal period ending April 30 | ||||||
Bond Fund | 148,731 | $7,889 | 96,364 | 10,671 | $18,270 | 26 |
Corporate Income Fund | 316,185 | 9,092 | 127,262 | N/A | N/A | 319,478 |
Intermediate Bond Fund | 3,373,248 | 152,033 | 562,997 | 14,208 | N/A | 1,194,813 |
Multi-Asset Income Fund | 2 (c) | N/A | 10 (c) | N/A | N/A | 2 (c) |
Small Cap Value Fund I | 892,565 | 30,617 | 349,089 | 17,107 | N/A | N/A |
U.S. Treasury Index Fund | 44,574 | 12,147 | 56,336 | N/A | N/A | 54,291 |
For Funds with fiscal period ending May 31 | ||||||
Adaptive Alternatives Fund | 889 (d) | N/A | 560 (d) | 17 (d) | N/A | 90,158 (d) |
Adaptive Risk Allocation Fund | 108,173 | N/A | 129,231 | 553 | N/A | 448,612 |
Diversified Absolute Return Fund | 8 (e) | N/A | 28 (e) | N/A | N/A | 7 (e) |
Dividend Income Fund | 6,386,663 | 109,824 | 6,345,249 | 442,376 | 225,282 | 443 |
HY Municipal Fund | 253,157 | 6,257 | 223,058 | N/A | N/A | N/A |
For Funds with fiscal period ending July 31 | ||||||
AMT-Free OR Intermediate Muni Bond Fund | 99,585 | 105 | 165,360 | N/A | N/A | N/A |
Global ILB Plus Fund | N/A | N/A | N/A | N/A | N/A | 25 |
Large Cap Growth Fund(f) | 4,291,241 | 210,601 | 720,794 | 12,040 | 495,307 | 342,561 |
Tax-Exempt Fund | 6,628,301 | 26,762 | 768,266 | N/A | N/A | N/A |
U.S. Social Bond Fund | 9 (g) | N/A | 35 (g) | N/A | N/A | N/A |
Ultra Short Term Bond Fund | N/A | N/A | N/A | N/A | N/A | N/A |
For Funds with fiscal period ending August 31 | ||||||
AP – Alternative Strategies Fund | 1,851,667 | N/A | N/A | N/A | N/A | N/A |
AP – Core Plus Bond Fund | 10,302,928 | N/A | N/A | N/A | N/A | N/A |
AP – Small Cap Equity Fund | 1,664,307 | N/A | N/A | N/A | N/A | N/A |
Balanced Fund | 2,959,196 | 127,450 | 2,230,594 | 85,981 | N/A | N/A |
Contrarian Core Fund | 3,221,987 | 154,333 | 1,656,721 | 107,495 | 428,955 | 486,885 |
Emerging Markets Fund | 785,774 | 75,452 | 261,841 | 36,538 | N/A | 35,928 |
Global Dividend Opportunity Fund | 377,255 | 28,910 | 152,400 | 7,198 | N/A | 7 |
Global Energy and Natural Resources Fund | 312,051 | 26,739 | 158,643 | 12,080 | N/A | N/A |
Global Technology Growth Fund | 170,548 | 28,195 | 197,034 | N/A | N/A | N/A |
Greater China Fund | 202,087 | 36,613 | 164,748 | N/A | N/A | 7 |
Mid Cap Growth Fund | 2,537,626 | 161,495 | 538,174 | 136,878 | 70,059 | 52,613 |
Small Cap Core Fund | 1,086,567 | 7,637 | 324,074 | N/A | 242,604 | 169,523 |
Small Cap Growth Fund I | 625,422 | 34,800 | 222,427 | 16,061 | N/A | N/A |
Statement of Additional Information – December 1, 2015 | 122 |
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Fund | Class A | Class B | Class C | Class R | Class T | Class W |
Value and Restructuring Fund | $261,555 | N/A | $291,368 | $66,656 | N/A | $7 |
For Funds with fiscal period ending October 31 | ||||||
AMT-Free CT Intermediate Muni Bond Fund | 22,186 | $1,453 | 45,221 | N/A | $19,069 | N/A |
AMT-Free Intermediate Muni Bond Fund | 413,968 | 5,403 | 352,814 | N/A | 24,207 | N/A |
AMT-Free MA Intermediate Muni Bond Fund | 55,974 | 62 | 74,072 | N/A | 32,712 | N/A |
AMT-Free NY Intermediate Muni Bond Fund | 44,739 | 1,113 | 126,156 | N/A | 11,792 | N/A |
CA Tax-Exempt Fund | 888,158 | 5,223 | 277,523 | N/A | N/A | N/A |
Global Unconstrained Bond Fund(h) | N/A | N/A | N/A | N/A | N/A | N/A |
NY Tax-Exempt Fund | 363,583 | 6,908 | 111,749 | N/A | N/A | N/A |
Strategic Income Fund | 3,227,225 | 205,163 | 1,693,900 | 7,821 | N/A | 17 |
For Funds with fiscal period ending December 31 | ||||||
Real Estate Equity Fund | 299,813 | 31,511 | 192,416 | 44,746 | N/A | 99 |
(a) | For the period from March 11, 2014 (commencement of operations) to January 31, 2015. |
(b) | For the period from June 25, 2014 (commencement of operations) to January 31, 2015. |
(c) | For the period from March 27, 2015 (commencement of operations) to April 30, 2015. |
(d) | For the period from January 27, 2015 (commencement of operations) to May 31, 2015. |
(e) | For the period from February 19, 2015 (commencement of operations) to May 31, 2015. |
(f) | The Fund paid distribution and/or service fees of $56,005 for Class E shares and $8,638 for Class F shares for the fiscal year ended 2015. |
(g) | For the period from March 26, 2015 (commencement of operations) to July 31, 2015. |
(h) | The Fund commenced operations on June 30, 2015, and therefore has no reporting information for periods prior to such date. |
Statement of Additional Information – December 1, 2015 | 123 |
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Statement of Additional Information – December 1, 2015 | 124 |
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Pricing and Bookkeeping Fees | |||
Fund | 2014 | 2013 | 2012 |
For Funds with fiscal period ending August 31 | |||
Balanced Fund | N/A | N/A | N/A |
Contrarian Core Fund(a) | N/A | N/A | N/A |
Emerging Markets Fund(b) | N/A | N/A | 38,036 |
Global Dividend Opportunity Fund | N/A | N/A | N/A |
Global Energy and Natural Resources Fund(b) | N/A | N/A | 11,820 |
Global Technology Growth Fund | N/A | N/A | N/A |
Greater China Fund | N/A | N/A | N/A |
Mid Cap Growth Fund | N/A | N/A | N/A |
Small Cap Core Fund(a) | N/A | N/A | N/A |
Small Cap Growth Fund I | N/A | N/A | N/A |
Value and Restructuring Fund(b) | N/A | N/A | 48,156 |
(a) | Contrarian Core Fund and Small Cap Core Fund changed their fiscal year ends in 2012 from September 30 to August 31. For the fiscal year ended 2012, the information shown is for the period from October 1, 2011 to August 31, 2012. |
(b) | Emerging Markets Fund, Global Energy and Natural Resources Fund and Value and Restructuring Fund changed their fiscal year ends in 2012 from March 31 to August 31. The information shown for 2012 is for the twelve months ended March 31, 2012. No pricing and bookkeeping fees were paid for the fiscal period from April 1, 2012 to August 31, 2012. |
Statement of Additional Information – December 1, 2015 | 125 |
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Amounts Reimbursed | |||
Fund | 2015 | 2014 | 2013 |
For Funds with fiscal period ending January 31 | |||
Diversified Real Return Fund | $176,999 (a) | N/A | N/A |
For Funds with fiscal period ending March 31 | |||
AP – Growth Fund | 0 | $21,114 | $520,356 (b) |
Pacific/Asia Fund | 0 | 0 | 162 |
Select Large Cap Growth Fund | 0 | 0 | 0 |
For Funds with fiscal period ending April 30 | |||
Bond Fund | 752,335 | 238,061 | 1,169,108 |
Corporate Income Fund | 89,583 | 1,218 | 107,556 |
Intermediate Bond Fund | 2,029,498 | 2,408,094 | 2,440,859 |
Multi-Asset Income Fund | 64,010 (c) | N/A | N/A |
Small Cap Value Fund I | 0 | 0 | 0 |
U.S. Treasury Index Fund | 677,252 | 657,944 | 827,939 |
For Funds with fiscal period ending May 31 | |||
Adaptive Alternatives Fund | 363,998 (d) | N/A | N/A |
Adaptive Risk Allocation Fund | 633,805 | 299,257 | 291,148 (e) |
Diversified Absolute Return Fund | 90,008 (f) | N/A | N/A |
Dividend Income Fund | 0 | 0 | 674,160 |
HY Municipal Fund | 770,550 | 660,295 | 1,028,930 |
For Funds with fiscal period ending July 31 | |||
AMT-Free OR Intermediate Muni Bond Fund | 153,915 | 228,550 | 298,719 |
Global ILB Plus Fund | 144,298 | 41,890 (g) | N/A |
Large Cap Growth Fund | 0 | 0 | 0 |
Tax-Exempt Fund | 0 | 0 | 0 |
U.S. Social Bond Fund | 69,661 (h) | N/A | N/A |
Ultra Short Term Bond Fund | 93,709 | 123,048 | 113,452 |
2014 | 2013 | 2012 | |
For Funds with fiscal period ending August 31 | |||
AP – Alternative Strategies Fund | 0 | 174,772 | 150,833 (i) |
AP – Core Plus Bond Fund | 0 | 0 | 0 (j) |
AP – Small Cap Equity Fund | 1,560,798 | 1,421,145 | 560,869 (j) |
Balanced Fund | 0 | 174,344 | 501,495 |
Contrarian Core Fund | 0 | 57,718 | 397,756 (k) |
Emerging Markets Fund | 0 | 531,115 | 937,684 (l) |
Global Dividend Opportunity Fund | 70,960 | 365,991 | 7 |
Global Energy and Natural Resources Fund | 0 | 0 | 0 (l) |
Global Technology Growth Fund | 0 | 31,538 | 0 |
Greater China Fund | 0 | 0 | 0 |
Mid Cap Growth Fund | 0 | 0 | 0 |
Small Cap Core Fund | 0 | 23,843 | 72,282 (k) |
Small Cap Growth Fund I | 0 | 53,467 | 79,402 |
Value and Restructuring Fund | 0 | 0 | 3,234,501 (l) |
Statement of Additional Information – December 1, 2015 | 126 |
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Amounts Reimbursed | |||
2014 | 2013 | 2012 | |
For Funds with fiscal period ending October 31 | |||
AMT-Free CT Intermediate Muni Bond Fund | $301,578 | $338,425 | $441,958 |
AMT-Free Intermediate Muni Bond Fund | 2,332,871 | 3,012,105 | 3,199,657 |
AMT-Free MA Intermediate Muni Bond Fund | 453,509 | 553,959 | 861,785 |
AMT-Free NY Intermediate Muni Bond Fund | 536,026 | 611,524 | 782,387 |
CA Tax-Exempt Fund | 422,557 | 455,738 | 441,438 |
Global Unconstrained Bond Fund(m) | N/A | N/A | N/A |
NY Tax-Exempt Fund | 230,452 | 241,744 | 275,120 |
Strategic Income Fund | 23,441 | 159 | 248,867 (n) |
For Funds with fiscal period ending December 31 | |||
Real Estate Equity Fund | 0 | 0 | 17,962 |
(a) | For the period from March 11, 2014 (commencement of operations) to January 31, 2015. |
(b) | For the period from April 20, 2012 (commencement of operations) to March 31, 2013. |
(c) | For the period from March 27, 2015 (commencement of operations) to April 30, 2015. |
(d) | For the period from January 27, 2015 (commencement of operations) to May 31, 2015. |
(e) | For the period from June 19, 2012 (commencement of operations) to May 31, 2013. |
(f) | For the period from February 19, 2015 (commencement of operations) to May 31, 2015. |
(g) | For the period from March 12, 2014 (commencement of operations) to July 31, 2014. |
(h) | For the period from March 26, 2015 (commencement of operations) to July 31, 2015. |
(i) | For the period from April 23, 2012 (commencement of operations) to August 31, 2012. |
(j) | For the period from April 20, 2012 (commencement of operations) to August 31, 2012. |
(k) | Contrarian Core Fund and Small Cap Core Fund changed their fiscal year ends in 2012 from September 30 to August 31. For the fiscal year ended 2012, the information shown is for the period from October 1, 2011 to August 31, 2012. |
(l) | Emerging Markets Fund, Global Energy and Natural Resources Fund and Value and Restructuring Fund changed their fiscal year ends in 2012 from March 31 to August 31. For the fiscal year ended 2012, the information shown is for the 17-month period from April 1, 2011 to August 31, 2012. For the fiscal year ended March 31, 2012, $734,739 in Emerging Markets Fund expenses were reimbursed, $0 in Global Energy and Natural Resources Fund expenses were reimbursed, and $2,410,775 in Value and Restructuring Fund expenses were reimbursed. For the fiscal period from April 1, 2012 to August 31, 2012, $202,945 in Emerging Markets Fund expenses were reimbursed, $0 in Global Energy and Natural Resources Fund expenses were reimbursed, and $823,726 in Value and Restructuring Fund expenses were reimbursed. |
(m) | The Fund commenced operations on June 30, 2015, and therefore has no reporting information for periods prior to such date. |
(n) | Strategic Income Fund changed its fiscal year end in 2012 from May 31 to October 31. For the fiscal year ended 2012, the information shown is for the 17-month period from June 1, 2011 to October 31, 2012. For the fiscal year ended May 31, 2012, $182,250 in Strategic Income Fund expenses were reimbursed. For the fiscal period from June 1, 2012 to October 31, 2012, $66,617 in Strategic Income Fund expenses were reimbursed. |
Fees Waived | |||
2015 | 2014 | 2013 | |
For Funds with fiscal period ending April 30 | |||
Bond Fund | $5,339 | $18,710 | $25,716 |
Corporate Income Fund | 22,458 | 28,402 | 32,985 |
Intermediate Bond Fund | 63,536 | 114,650 | 66,685 |
U.S. Treasury Index Fund | 28,560 | 11,418 | 17,297 |
For Funds with fiscal period ending May 31 | |||
HY Municipal Fund | 30,431 | 20,060 | 20,886 |
For Funds with fiscal period ending July 31 | |||
AMT-Free OR Intermediate Muni Bond Fund | 76,493 | 83,762 | 91,741 |
Tax-Exempt Fund | 160,023 | 280,401 | 198,871 |
Statement of Additional Information – December 1, 2015 | 127 |
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Fees Waived | |||
2014 | 2013 | 2012 | |
For Funds with fiscal period ending October 31 | |||
AMT-Free CT Intermediate Muni Bond Fund | $20,981 | $26,076 | $25,209 |
AMT-Free Intermediate Muni Bond Fund | 74,080 | 251,117 | 197,803 |
AMT-Free MA Intermediate Muni Bond Fund | 34,367 | 43,021 | 39,241 |
AMT-Free NY Intermediate Muni Bond Fund | 58,408 | 75,465 | 68,035 |
CA Tax-Exempt Fund | 118,938 | 131,079 | 126,525 |
NY Tax-Exempt Fund | 47,893 | 57,732 | 54,467 |
Strategic Income Fund | 242,507 | 383,776 | 482,776 (a) |
(a) | Strategic Income Fund changed its fiscal year end in 2012 from May 31 to October 31. For the fiscal year ended 2012, the information shown is for the 17-month period from June 1, 2011 to October 31, 2012. For the fiscal year ended May 31, 2012, $323,325 in Strategic Income Fund expenses were waived. For the fiscal period from June 1, 2012 to October 31, 2012, $159,451 in Strategic Income Fund expenses were waived. |
Certain Conflicts of Interest
Statement of Additional Information – December 1, 2015 | 128 |
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Statement of Additional Information – December 1, 2015 | 131 |
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Statement of Additional Information – December 1, 2015 | 132 |
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Name, address, year of birth | Position held with Subsidiary and length of service | Principal occupation during past five years |
Anthony P. Haugen 807 Ameriprise Financial Center, Minneapolis, MN 55474-2405 Born 1964 | Director since November 2013 | Vice President – Finance, Ameriprise Financial, Inc. since June 2004 |
Amy K. Johnson 5228 Ameriprise Financial Center Minneapolis, MN 55474-2405 Born 1965 | Director since November 2013 | See Fund Governance – Fund Officers. |
Christopher O. Petersen 5228 Ameriprise Financial Center Minneapolis, MN 55474-2405 Born 1970 | Director since January 2015 | See Fund Governance – Fund Officers. |
Statement of Additional Information – December 1, 2015 | 133 |
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Statement of Additional Information – December 1, 2015 | 134 |
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Name, Year of Birth and Position Held with the Trust | Year First Appointed or Elected as Trustee to any Fund Currently in the Columbia Funds Complex or a Predecessor Thereof | Principal Occupation(s) during the Past Five Years | Number of Funds in the Columbia Funds Complex Overseen | Other Directorships Held by Trustee During the Past Five Years | Committee Memberships |
Janet Langford Carrig (Born 1957) Trustee | 1996 | Senior Vice President, General Counsel and Corporate Secretary, ConocoPhillips (integrated energy company) since September 2007; Deputy General Counsel – Corporate Legal Services, ConocoPhillips from August 2006 to August 2007; Partner, Zelle, Hofmann, Voelbel, Mason & Gette LLP (law firm) from March 2005 to July 2006; Adjunct Professor of Law, Northwestern University from September 2004 to June 2006; Director, UAL Corporation (airline) from February 2006 to July 2006; Chief Administrative Officer and Senior Vice President, Kmart Holding Corporation (consumer goods) from September 2003 to March 2004 | 60 | None | Compliance, Product and Distribution, Governance, Investment Oversight Committee #2 |
Statement of Additional Information – December 1, 2015 | 135 |
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Name, Year of Birth and Position Held with the Trust | Year First Appointed or Elected as Trustee to any Fund Currently in the Columbia Funds Complex or a Predecessor Thereof | Principal Occupation(s) during the Past Five Years | Number of Funds in the Columbia Funds Complex Overseen | Other Directorships Held by Trustee During the Past Five Years | Committee Memberships |
Douglas A. Hacker (Born 1955) Trustee and Chairman of the Board | 1996 | Independent business executive since May 2006; Executive Vice President – Strategy of United Airlines from December 2002 to May 2006; President of UAL Loyalty Services (airline marketing company) from September 2001 to December 2002; Executive Vice President and Chief Financial Officer of United Airlines from July 1999 to September 2001 | 60 | Spartan Nash Company (food distributor); Nash Finch Company (food distributor) from 2005 to 2013; Aircastle Limited (aircraft leasing); SeaCube Container Leasing Ltd. (container leasing) from 2010 to 2013; and Travelport Worldwide Limited (travel information technology) | Audit, Governance, Investment Oversight Committee #1 |
Nancy T. Lukitsh (Born 1956) Trustee | 2011 | Senior Vice President, Partner and Director of Marketing, Wellington Management Company, LLP (investment adviser) from 1997 to 2010; Chair, Wellington Management Portfolios (commingled non-U.S. investment pools) from 2007 to 2010; Director, Wellington Trust Company, NA and other Wellington affiliates from 1997 to 2010 | 60 | None | Advisory Fees & Expenses, Product and Distribution, Investment Oversight Committee #2 |
William E. Mayer (Born 1940) Trustee | 1991 | Partner, Park Avenue Equity Partners (private equity) since February 1999 | 60 | DynaVox Inc. (speech creation); Lee Enterprises (print media); WR Hambrecht + Co. (financial service provider) from 2000 to 2012; BlackRock Kelso Capital Corporation (investment company); and Premier, Inc. (healthcare) | Product and Distribution, Governance, Investment Oversight Committee #2 |
Statement of Additional Information – December 1, 2015 | 136 |
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Name, Year of Birth and Position Held with the Trust | Year First Appointed or Elected as Trustee to any Fund Currently in the Columbia Funds Complex or a Predecessor Thereof | Principal Occupation(s) during the Past Five Years | Number of Funds in the Columbia Funds Complex Overseen | Other Directorships Held by Trustee During the Past Five Years | Committee Memberships |
David M. Moffett (Born 1952) Trustee | 2011 | Retired. Consultant to Bridgewater and Associates; Chief Executive Officer, Federal Home Loan Mortgage Corporation, from 2008 to 2009; Senior Adviser, Global Financial Services Group, Carlyle Group, Inc., from 2007 to 2008; Vice Chairman and Chief Financial Officer, U.S. Bancorp, from 1993 to 2007 | 60 | Building Materials Holding Corp. (building materials and construction services); CIT Group Inc. (commercial and consumer finance); eBay Inc. (online trading community); E.W. Scripps Co. (print and television media); Genworth Financial, Inc. (financial and insurance products and services); MBIA Inc. (financial service provider); Paypal Holdings Inc. (payment and data processing services); and University of Oklahoma Foundation | Compliance, Audit, Investment Oversight Committee #1 |
Charles R. Nelson (Born 1942) Trustee | 1981 | Retired. Professor Emeritus, University of Washington since 2011; Professor of Economics, University of Washington from 1976 to 2011; Ford and Louisa Van Voorhis Professor of Political Economy, University of Washington from 1993 to 2011; Adjunct Professor of Statistics, University of Washington from 1980 to 2011; Associate Editor, Journal of Money, Credit and Banking from September 1993 to 2008; consultant on econometric and statistical matters | 60 | None | Advisory Fees & Expenses, Compliance, Investment Oversight Committee #2 |
John J. Neuhauser (Born 1943) Trustee | 1984 | President, Saint Michael’s College since August 2007; Director or Trustee of several non-profit organizations, including Fletcher Allen Health Care, Inc.; Academic Vice President and Dean of Faculties, Boston College from August 1999 to October 2005; University Professor, Boston College from November 2005 to August 2007 | 60 | Liberty All-Star Equity Fund and Liberty All-Star Growth Fund (closed-end funds) | Advisory Fees & Expenses, Product and Distribution, Investment Oversight Committee #2 |
Statement of Additional Information – December 1, 2015 | 137 |
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Name, Year of Birth and Position Held with the Trust | Year First Appointed or Elected as Trustee to any Fund Currently in the Columbia Funds Complex or a Predecessor Thereof | Principal Occupation(s) during the Past Five Years | Number of Funds in the Columbia Funds Complex Overseen | Other Directorships Held by Trustee During the Past Five Years | Committee Memberships |
Patrick J. Simpson (Born 1944) Trustee | 2000 | Partner, Perkins Coie LLP (law firm) | 60 | None | Advisory Fees & Expenses, Audit, Governance, Investment Oversight Committee #1 |
Anne-Lee Verville (Born 1945) Trustee | 1998 | Retired. General Manager, Global Education Industry from 1994 to 1997, President – Application Systems Division from 1991 to 1994, Chief Financial Officer – US Marketing & Services from 1988 to 1991, and Chief Information Officer from 1987 to 1988, IBM Corporation (computer and technology) | 60 | Enesco Group, Inc. (producer of giftware and home and garden decor products) from 2001 to 2006 | Audit, Compliance, Investment Oversight Committee #1 |
Statement of Additional Information – December 1, 2015 | 138 |
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Name, Year of Birth and Position Held with the Trust | Year First Appointed or Elected as Trustee to any Fund Currently in the Columbia Funds Complex or a Predecessor Thereof | Principal Occupation(s) during the Past Five Years | Number of Funds in the Columbia Funds Complex Overseen | Other Directorships Held by Trustee During the Past Five Years | Committee Memberships |
William F. Truscott (Born 1960) Trustee | 2012 | Chairman of the Board and President, Columbia Management Investment Advisers, LLC since May 2010 and February 2012, respectively (previously President and Chief Investment Officer, 2001-April 2010); Chief Executive Officer, Global Asset Management, Ameriprise Financial, Inc. since September 2012 (previously Chief Executive Officer, U.S. Asset Management & President, Annuities, May 2010- September 2012 and President –U.S. Asset Management and Chief Investment Officer, 2005-April 2010); Director and Chief Executive Officer, Columbia Management Investment Distributors, Inc. since May 2010 and February 2012, respectively (previously Chairman of the Board and Chief Executive Officer, 2006-April 2010); Chairman of the Board and Chief Executive Officer, RiverSource Distributors, Inc. since 2006; Director, Threadneedle Asset Management Holdings, SARL since 2014; President and Chief Executive Officer, Ameriprise Certificate Company, 2006-August 2012. | 187 | Chairman of the Board, Columbia Management Investment Advisers, LLC since May 2010; Director, Columbia Management Investment Distributors, Inc. since May 2010; Director, Ameriprise Certificate Company, 2006 to January 2013 | None |
* | Interested person (as defined under the 1940 Act) by reason of being an officer, director, security holder and/or employee of the Investment Manager or Ameriprise Financial. |
Statement of Additional Information – December 1, 2015 | 139 |
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Name, Address and Year of Birth | Position and Year First Appointed to Position for any Fund in the Columbia Funds Complex or a Predecessor Thereof | Principal Occupation(s) During Past Five Years |
Christopher O. Petersen 5228 Ameriprise Financial Center Minneapolis, MN 55474 Born 1970 | President and Principal Executive Officer (2015) | Vice President and Lead Chief Counsel, Ameriprise Financial, Inc. since January 2015 (previously, Vice President and Chief Counsel January 2010 – December 2014; and Vice President and Group Counsel or Counsel 2004 - January 2010); officer of Columbia Funds and affiliated funds since 2007. |
Michael G. Clarke 225 Franklin Street Boston, MA 02110 Born 1969 | Treasurer (2011), Chief Financial Officer (2009) and Chief Accounting Officer (2015) | Vice President – Mutual Fund Administration, Columbia Management Investment Advisers, LLC, since May 2010; Managing Director of Fund Administration, Columbia Management Advisors, LLC, September 2004 - April 2010; senior officer of Columbia Funds and affiliated funds since 2002. |
Paul B. Goucher 100 Park Avenue New York, NY 10017 Born 1968 | Senior Vice President (2011), Chief Legal Officer (2015) and Assistant Secretary (2008) | Vice President and Lead Chief Counsel, Ameriprise Financial, Inc. since November 2008 and January 2013, respectively (previously Chief Counsel, January 2010 - January 2013 and Group Counsel, November 2008 - January 2010). |
Thomas P. McGuire 225 Franklin Street Boston, MA 02110 Born 1972 | Vice President and Chief Compliance Officer (2012) | Vice President – Asset Management Compliance, Ameriprise Financial, Inc., since May 2010; Chief Compliance Officer, Ameriprise Certificate Company since September 2010; Compliance Executive, Bank of America, 2005 - April 2010. |
Colin Moore 225 Franklin Street Boston, MA 02110 Born 1958 | Senior Vice President (2010) | Executive Vice President and Global Chief Investment Officer, Ameriprise Financial, Inc., since July 2013; Director and Global Chief Investment Officer, Columbia Management Investment Advisers, LLC since May 2010; Manager, Managing Director and Chief Investment Officer, Columbia Management Advisors, LLC, 2007 - April 2010. |
Michael E. DeFao 225 Franklin Street Boston, MA 02110 Born 1968 | Vice President (2011) and Assistant Secretary (2010) | Vice President and Chief Counsel, Ameriprise Financial, Inc. since May 2010; Associate General Counsel, Bank of America, 2005 - April 2010. |
Amy Johnson 5228 Ameriprise Financial Center Minneapolis, MN 55474 Born 1965 | Vice President (2006) | Managing Director and Chief Operating Officer, Columbia Management Investment Advisers, LLC since May 2010 (previously Chief Administrative Officer, 2009 - April 2010, and Vice President – Asset Management and Trust Company Services, 2006 - 2009). |
Lyn Kephart-Strong 5228 Ameriprise Financial Center Minneapolis, MN 55474 Born 1960 | Vice President (2015) | President, Columbia Management Investment Services Corp. since October 2014; Vice President & Resolution Officer, Ameriprise Trust Company since August 2009; President, RiverSource Service Corporation 2004-2010. |
Ryan C. Larrenaga 225 Franklin Street Boston, MA 02110 Born 1970 | Vice President and Secretary (2015) | Vice President and Group Counsel, Ameriprise Financial, Inc. since August 2011 (previously, Counsel from May 2010 to August 2011); Assistant General Counsel, Bank of America, 2005 - April 2010; officer of Columbia Funds and affiliated funds since 2005. |
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Statement of Additional Information – December 1, 2015 | 141 |
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Statement of Additional Information – December 1, 2015 | 142 |
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Fiscal Period | Audit Committee | Governance Committee | Advisory Fees & Expenses Committee | Compliance Committee | Investment Oversight Committee | Product & Distribution Committee |
For Fund with fiscal period ending January 31 | 5 | 5 | 6 | 5 | 14 | 6 |
For Funds with fiscal period ending March 31 | 5 | 5 | 6 | 5 | 12 | 6 |
For Funds with fiscal period ending April 30 | 4 | 4 | 6 | 4 | 9 | 5 |
For Funds with fiscal period ending May 31 | 6 | 6 | 6 | 6 | 12 | 5 |
For Funds with fiscal period ending July 31 | 4 | 4 | 7 | 4 | 9 | 5 |
For Funds with fiscal period ending August 31 | 5 | 4 | 5 | 4 | 11 | 4 |
For Funds with fiscal period ending October 31 | 4 | 4 | 5 | 4 | 11 | 4 |
For Fund with fiscal period ending December 31 | 5 | 5 | 6 | 5 | 15 | 6 |
Fund | Carrig | Hacker | Lukitsh | Mayer | Moffett | Nelson | Neuhauser | Simpson | Verville |
Adaptive Alternatives Fund | A | A | A | A | A | A | A | A | A |
Adaptive Risk Allocation Fund | A | E | A | A | A | A | A | A | A |
Statement of Additional Information – December 1, 2015 | 143 |
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Fund | Carrig | Hacker | Lukitsh | Mayer | Moffett | Nelson | Neuhauser | Simpson | Verville |
AMT-Free CT Intermediate Muni Bond Fund | A | A | A | A | A | A | A | A | A |
AMT-Free Intermediate Muni Bond Fund | A | A | A | A | A | E | A | A | A |
AMT-Free MA Intermediate Muni Bond Fund | A | A | A | A | A | A | A | A | A |
AMT-Free NY Intermediate Muni Bond Fund | A | A | A | A | A | A | A | A | A |
AMT-Free OR Intermediate Muni Bond Fund | A | A | A | A | A | A | A | A | A |
AP – Alternative Strategies Fund | A | A | A | A | A | A | A | A | A |
AP – Core Plus Bond Fund | A | A | A | A | A | A | A | A | A |
AP – Growth Fund | A | A | A | A | A | A | A | A | A |
AP – Small Cap Equity Fund | A | A | A | A | A | A | A | A | A |
Balanced Fund | A | A | A | A | A | A | A | D | E (a) |
Bond Fund | A | A | A | A | A | A | A | A | C (a) |
CA Tax-Exempt Fund | E | A | A | A | A | A | A | A | A |
Contrarian Core Fund | E | A | A | A | A | A | A | A | A |
Corporate Income Fund | D (a) | A | A | A | A | E | A | A | A |
Diversified Absolute Return Fund | A | A | A | A | A | A | A | A | A |
Diversified Real Return Fund | A | A | A | A | A | A | A | A | A |
Dividend Income Fund | E (a) | A | A | A | A | A | A | E (a) | E (a) |
Emerging Markets Fund | A | E | A | A | A | A | A | E (a) | A |
Global Dividend Opportunity Fund | A | A | A | A | A | A | A | A | A |
Global Energy and Natural Resources Fund | A | A | A | A | A | A | A | D (a) | A |
Global ILB Plus Fund | A | A | A | A | A | A | A | A | A |
Global Technology Growth Fund | A | A | A | A | A | A | A | A | A |
Global Unconstrained Bond Fund | A | A | A | A | A | A | A | A | A |
Greater China Fund | A | E | A | A | A | A | A | A | A |
High Yield Municipal Fund | A | A | A | A | A | A | A | A | A |
Intermediate Bond Fund | A | A | A | A | A | E | A | E (a) | A |
Large Cap Growth Fund | D | A | A | A | A | E | A | E (a) | E (a) |
Mid Cap Growth Fund | A | A | A | A | A | E | A | A | A |
Multi-Asset Income Fund | A | A | A | A | A | A | A | A | A |
NY Tax-Exempt Fund | A | A | A | A | A | A | A | A | A |
Pacific/Asia Fund | A | A | A | A | A | A | A | A | A |
Real Estate Equity Fund | A | A | A | A | A | A | A | E (a) | A |
Select Large Cap Growth Fund | D | E | A | A | A | A | A | A | A |
Small Cap Core Fund | A | A | A | A | A | A | A | A | A |
Small Cap Growth Fund I | A | A | A | A | A | A | A | E (a) | A |
Small Cap Value Fund I | A | A | A | A | A | A | D | E (a) | A |
Strategic Income Fund | A | A | A | A | A | A | A | A | D (a) |
Tax-Exempt Fund | A | A | A | A | A | A | E | A | A |
U.S. Social Bond Fund | A | A | A | A | A | A | A | A | A |
U.S. Treasury Index Fund | A | A | A | A | A | A | A | A | A |
Ultra Short Term Bond Fund | A | A | A | A | A | A | A | A | A |
Value and Restructuring Fund | A | A | A | A | A | A | A | A | A |
Aggregate Dollar Range of Equity Securities in all Funds in the Columbia Funds Complex Overseen by the Trustee | E (a) | E | A | A | A | E | E | E (a) | E (a) |
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(a) | Includes the value of compensation payable under a Deferred Compensation Plan that is determined as if the amounts deferred had been invested, as of the date of deferral, in shares of one or more funds in the Columbia Funds Family overseen by the Trustee as specified by the Trustee. |
Fund | Truscott |
Adaptive Alternatives Fund | A |
Adaptive Risk Allocation Fund | E |
AMT-Free CT Intermediate Muni Bond Fund | A |
AMT-Free Intermediate Muni Bond Fund | A |
AMT-Free MA Intermediate Muni Bond Fund | A |
AMT-Free NY Intermediate Muni Bond Fund | A |
AMT-Free OR Intermediate Muni Bond Fund | A |
AP – Alternative Strategies Fund | A |
AP – Core Plus Bond Fund | A |
AP – Growth Fund | A |
AP – Small Cap Equity Fund | A |
Balanced Fund | A |
Bond Fund | A |
CA Tax-Exempt Fund | A |
Contrarian Core Fund | E (a) |
Corporate Income Fund | A |
Diversified Absolute Return Fund | A |
Diversified Real Return Fund | A |
Dividend Income Fund | A |
Emerging Markets Fund | E |
Global Dividend Opportunity Fund | A |
Global Energy and Natural Resources Fund | A |
Global ILB Plus Fund | A |
Global Technology Growth Fund | A |
Global Unconstrained Bond Fund | A |
Greater China Fund | A |
High Yield Municipal Fund | E |
Intermediate Bond Fund | C |
Large Cap Growth Fund | C |
Mid Cap Growth Fund | A |
Multi-Asset Income Fund | A |
NY Tax-Exempt Fund | A |
Pacific/Asia Fund | A |
Real Estate Equity Fund | A |
Select Large Cap Growth Fund | E |
Small Cap Core Fund | A |
Small Cap Growth Fund I | A |
Small Cap Value Fund I | A |
Strategic Income Fund | E |
Tax-Exempt Fund | A |
U.S. Social Bond Fund | A |
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Fund | Truscott |
U.S. Treasury Index Fund | A |
Ultra Short Term Bond Fund | A |
Value and Restructuring Fund | A |
Aggregate Dollar Range of Equity Securities in all Funds in the Columbia Funds Complex Overseen by the Trustee | E (a) |
(a) | Includes notional investments through a deferred compensation account. Mr. Truscott’s deferred compensation plan is separate from that of the Independent Trustees. |
Trustee Name | Total Cash Compensation from the Columbia Funds Complex Paid to Trustee(a) | Amount Deferred from Total Compensation(b) |
Janet L. Carrig | $242,000 | $242,000 |
Douglas A. Hacker | $377,313 | $0 |
Nancy T. Lukitsh | $253,500 | $0 |
William E. Mayer | $234,500 | $0 |
David M. Moffett | $255,000 | $157,250 |
Charles R. Nelson | $237,000 | $0 |
John J. Neuhauser | $260,000 | $0 |
Patrick J. Simpson | $255,832 | $49,000 |
Anne-Lee Verville | $248,000 | $0 |
(a) | Includes any portion of cash compensation Trustees elected to defer during the fiscal period. |
(b) | The Trustees may elect to defer a portion of the total cash compensation payable. Additional information regarding the Deferred Compensation Plan is described below. |
Statement of Additional Information – December 1, 2015 | 146 |
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Fund | Aggregate Compensation from Fund Independent Trustees | |||||||||
Janet L. Carrig(a) | Rodman Drake(b) | Douglas A. Hacker | Nancy T. Lukitsh | William E. Mayer | David M. Moffett | Charles R. Nelson | John J. Neuhauser | Patrick J. Simpson(c) | Anne-Lee Verville(d) | |
For Funds with fiscal period ending January 31 | ||||||||||
Diversified Real Return Fund(e) | $1,184 | $163 | $1,717 | $1,254 | $1,169 | $1,237 | $1,176 | $1,437 | $1,214 | $1,211 |
Amount Deferred | $1,184 | $163 | $0 | $0 | $0 | $238 | $0 | $0 | $0 | $0 |
For Funds with fiscal period ending March 31 | ||||||||||
AP - Growth Fund | $5,165 | $1,875 | $6,967 | $5,422 | $5,061 | $5,404 | $5,079 | $6,065 | $5,265 | $5,280 |
Amount Deferred | $5,165 | $528 | $0 | $0 | $0 | $1,239 | $0 | $0 | $461 | $0 |
Pacific/Asia Fund | $2,099 | $808 | $2,828 | $2,208 | $2,059 | $2,200 | $2,068 | $2,473 | $2,140 | $2,149 |
Amount Deferred | $2,099 | $223 | $0 | $0 | $0 | $483 | $0 | $0 | $180 | $0 |
Select Large Cap Growth Fund | $16,338 | $6,213 | $21,975 | $17,169 | $16,013 | $17,102 | $16,078 | $19,203 | $16,649 | $16,705 |
Amount Deferred | $16,338 | $1,693 | $0 | $0 | $0 | $3,836 | $0 | $0 | $1,435 | $0 |
For Funds with fiscal period ending April 30 | ||||||||||
Bond Fund | $2,975 | $260 | $4,354 | $3,144 | $2,916 | $3,135 | $2,943 | $3,538 | $3,109 | $3,082 |
Amount Deferred | $2,975 | $260 | $0 | $0 | $0 | $1,150 | $0 | $0 | $301 | $0 |
Corporate Income Fund | $4,441 | $377 | $6,504 | $4,697 | $4,351 | $4,679 | $4,396 | $5,275 | $4,647 | $4,598 |
Amount Deferred | $4,441 | $377 | $0 | $0 | $0 | $1,778 | $0 | $0 | $477 | $0 |
Intermediate Bond Fund | $9,150 | $814 | $13,389 | $9,676 | $8,974 | $9,646 | $9,058 | $10,903 | $9,563 | $9,485 |
Amount Deferred | $9,150 | $814 | $0 | $0 | $0 | $3,488 | $0 | $0 | $923 | $0 |
Multi-Asset Income Fund(f) | $0 | $0 | $0 | $23 | $0 | $0 | $23 | $23 | $23 | $0 |
Amount Deferred | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $23 | $0 |
Small Cap Value Fund I | $4,052 | $358 | $5,925 | $4,282 | $3,974 | $4,270 | $4,009 | $4,834 | $4,232 | $4,199 |
Amount Deferred | $4,052 | $358 | $0 | $0 | $0 | $1,523 | $0 | $0 | $397 | $0 |
U.S. Treasury Index Fund | $2,114 | $178 | $3,097 | $2,237 | $2,071 | $2,228 | $2,093 | $2,508 | $2,213 | $2,189 |
Amount Deferred | $2,114 | $178 | $0 | $0 | $0 | $856 | $0 | $0 | $233 | $0 |
For Funds with fiscal period ending May 31 | ||||||||||
Adaptive Alternatives Fund(g) | $386 | $0 | $582 | $422 | $368 | $406 | $397 | $431 | $431 | $394 |
Amount Deferred | $386 | $0 | $0 | $0 | $0 | $406 | $0 | $0 | $184 | $0 |
Adaptive Risk Allocation Fund | $1,865 | $148 | $2,738 | $1,974 | $1,826 | $1,965 | $1,847 | $2,214 | $1,955 | $1,929 |
Amount Deferred | $1,865 | $148 | $0 | $0 | $0 | $781 | $0 | $0 | $213 | $0 |
Diversified Absolute Return Fund(h) | $363 | $0 | $546 | $396 | $346 | $382 | $372 | $404 | $405 | $370 |
Amount Deferred | $363 | $0 | $0 | $0 | $0 | $382 | $0 | $0 | $173 | $0 |
Dividend Income Fund | $20,262 | $1,699 | $29,644 | $21,417 | $19,849 | $21,340 | $20,045 | $24,068 | $21,191 | $20,970 |
Amount Deferred | $20,262 | $1,699 | $0 | $0 | $0 | $8,077 | $0 | $0 | $2,163 | $0 |
HY Municipal Fund | $3,071 | $257 | $4,501 | $3,248 | $3,009 | $3,236 | $3,040 | $3,645 | $3,214 | $3,180 |
Amount Deferred | $3,071 | $257 | $0 | $0 | $0 | $1,242 | $0 | $0 | $331 | $0 |
For Funds with fiscal period ending July 31 | ||||||||||
AMT-Free OR Intermediate Muni Bond Fund | $2,324 | $0 | $3,635 | $2,435 | $2,253 | $2,450 | $2,276 | $2,498 | $2,457 | $2,383 |
Amount Deferred | $2,324 | $0 | $0 | $0 | $0 | $1,501 | $0 | $0 | $460 | $0 |
Global ILB Plus Fund | $1,428 | $0 | $2,234 | $1,496 | $1,385 | $1,506 | $1,398 | $1,535 | $1,510 | $1,464 |
Amount Deferred | $1,428 | $0 | $0 | $0 | $0 | $920 | $0 | $0 | $281 | $0 |
Large Cap Growth Fund | $7,967 | $0 | $12,425 | $8,347 | $7,720 | $8,396 | $7,804 | $8,561 | $8,424 | $8,165 |
Amount Deferred | $7,967 | $0 | $0 | $0 | $0 | $5,192 | $0 | $0 | $1,621 | $0 |
Tax-Exempt Fund | $9,538 | $0 | $14,918 | $9,993 | $9,246 | $10,055 | $9,342 | $10,251 | $10,084 | $9,779 |
Amount Deferred | $9,538 | $0 | $0 | $0 | $0 | $6,152 | $0 | $0 | $1,893 | $0 |
U.S. Social Bond Fund(i) | $325 | $0 | $491 | $355 | $310 | $342 | $333 | $362 | $362 | $332 |
Amount Deferred | $325 | $0 | $0 | $0 | $0 | $342 | $0 | $0 | $153 | $0 |
Ultra Short Term Bond Fund | $4,786 | $0 | $7,498 | $5,013 | $4,642 | $5,046 | $4,686 | $5,144 | $5,056 | $4,908 |
Amount Deferred | $4,786 | $0 | $0 | $0 | $0 | $2,995 | $0 | $0 | $901 | $0 |
For Funds with fiscal period ending August 31 |
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Fund | Aggregate Compensation from Fund Independent Trustees | |||||||||
Janet L. Carrig(a) | Rodman Drake(b) | Douglas A. Hacker | Nancy T. Lukitsh | William E. Mayer | David M. Moffett | Charles R. Nelson | John J. Neuhauser | Patrick J. Simpson(c) | Anne-Lee Verville(d) | |
AP - Alternative Strategies Fund | $3,244 | $3,544 | $3,785 | $3,471 | $3,244 | $3,351 | $3,276 | $3,853 | $3,294 | $3,400 |
Amount Deferred | $3,244 | $764 | $0 | $0 | $0 | $0 | $0 | $0 | $440 | $0 |
AP - Core Plus Bond Fund | $10,917 | $12,032 | $12,714 | $11,682 | $10,917 | $11,294 | $11,023 | $12,934 | $11,087 | $11,457 |
Amount Deferred | $10,917 | $2,506 | $0 | $0 | $0 | $0 | $0 | $0 | $1,515 | $0 |
AP - Small Cap Equity Fund | $3,084 | $3,379 | $3,599 | $3,300 | $3,084 | $3,186 | $3,114 | $3,667 | $3,131 | $3,232 |
Amount Deferred | $3,084 | $726 | $0 | $0 | $0 | $0 | $0 | $0 | $417 | $0 |
Balanced Fund | $5,711 | $6,122 | $6,681 | $6,109 | $5,711 | $5,901 | $5,770 | $6,814 | $5,798 | $5,978 |
Amount Deferred | $5,711 | $1,359 | $0 | $0 | $0 | $0 | $0 | $0 | $744 | $0 |
Contrarian Core Fund | $10,455 | $11,013 | $12,260 | $11,180 | $10,455 | $10,803 | $10,565 | $12,520 | $10,613 | $10,931 |
Amount Deferred | $10,455 | $2,505 | $0 | $0 | $0 | $0 | $0 | $0 | $1,321 | $0 |
Emerging Markets Fund | $4,588 | $4,985 | $5,355 | $4,907 | $4,588 | $4,743 | $4,633 | $5,457 | $4,660 | $4,813 |
Amount Deferred | $4,588 | $1,055 | $0 | $0 | $0 | $0 | $0 | $0 | $636 | $0 |
Global Dividend Opportunity Fund | $3,641 | $3,981 | $4,250 | $3,897 | $3,641 | $3,766 | $3,678 | $4,326 | $3,698 | $3,818 |
Amount Deferred | $3,641 | $854 | $0 | $0 | $0 | $0 | $0 | $0 | $498 | $0 |
Global Energy and Natural Resources Fund | $2,442 | $2,684 | $2,848 | $2,613 | $2,442 | $2,526 | $2,466 | $2,899 | $2,480 | $2,562 |
Amount Deferred | $2,442 | $569 | $0 | $0 | $0 | $0 | $0 | $0 | $336 | $0 |
Global Technology Growth Fund | $2,000 | $2,190 | $2,334 | $2,141 | $2,000 | $2,068 | $2,020 | $2,374 | $2,031 | $2,096 |
Amount Deferred | $2,000 | $472 | $0 | $0 | $0 | $0 | $0 | $0 | $268 | $0 |
Greater China Fund | $1,895 | $2,111 | $2,206 | $2,029 | $1,895 | $1,964 | $1,914 | $2,243 | $1,925 | $1,991 |
Amount Deferred | $1,895 | $435 | $0 | $0 | $0 | $0 | $0 | $0 | $265 | $0 |
Mid Cap Growth Fund | $7,499 | $8,404 | $8,720 | $8,027 | $7,499 | $7,771 | $7,570 | $8,873 | $7,619 | $7,879 |
Amount Deferred | $7,499 | $1,711 | $0 | $0 | $0 | $0 | $0 | $0 | $1,075 | $0 |
Small Cap Core Fund | $4,313 | $4,748 | $5,029 | $4,616 | $4,313 | $4,463 | $4,355 | $5,120 | $4,380 | $4,523 |
Amount Deferred | $4,313 | $1,003 | $0 | $0 | $0 | $0 | $0 | $0 | $593 | $0 |
Small Cap Growth Fund I | $4,621 | $5,260 | $5,362 | $4,948 | $4,621 | $4,787 | $4,665 | $5,443 | $4,694 | $4,856 |
Amount Deferred | $4,621 | $1,057 | $0 | $0 | $0 | $0 | $0 | $0 | $675 | $0 |
Value and Restructuring Fund | $6,306 | $7,052 | $7,334 | $6,750 | $6,306 | $6,530 | $6,366 | $7,461 | $6,407 | $6,626 |
Amount Deferred | $6,306 | $1,436 | $0 | $0 | $0 | $0 | $0 | $0 | $907 | $0 |
For Funds with fiscal period ending October 31 | ||||||||||
AMT-Free CT Intermediate Muni Bond Fund | $1,989 | $1,649 | $2,515 | $2,124 | $1,989 | $2,028 | $2,008 | $2,362 | $2,017 | $2,061 |
Amount Deferred | $1,989 | $462 | $0 | $0 | $0 | $0 | $0 | $0 | $166 | $0 |
AMT-Free Intermediate Muni Bond Fund | $6,370 | $5,288 | $8,064 | $6,806 | $6,370 | $6,496 | $6,432 | $7,568 | $6,462 | $6,607 |
Amount Deferred | $6,370 | $1,468 | $0 | $0 | $0 | $0 | $0 | $0 | $541 | $0 |
AMT-Free MA Intermediate Muni Bond Fund | $2,282 | $1,899 | $2,887 | $2,438 | $2,282 | $2,328 | $2,304 | $2,709 | $2,315 | $2,367 |
Amount Deferred | $2,282 | $529 | $0 | $0 | $0 | $0 | $0 | $0 | $191 | $0 |
AMT-Free NY Intermediate Muni Bond Fund | $2,170 | $1,795 | $2,748 | $2,318 | $2,170 | $2,214 | $2,191 | $2,577 | $2,201 | $2,250 |
Amount Deferred | $2,170 | $501 | $0 | $0 | $0 | $0 | $0 | $0 | $181 | $0 |
CA Tax-Exempt Fund | $2,656 | $2,196 | $3,365 | $2,838 | $2,656 | $2,711 | $2,682 | $3,156 | $2,695 | $2,755 |
Amount Deferred | $2,656 | $615 | $0 | $0 | $0 | $0 | $0 | $0 | $220 | $0 |
NY Tax-Exempt Fund | $1,979 | $1,635 | $2,507 | $2,115 | $1,979 | $2,020 | $1,998 | $2,351 | $2,008 | $2,052 |
Amount Deferred | $1,979 | $458 | $0 | $0 | $0 | $0 | $0 | $0 | $164 | $0 |
Strategic Income Fund | $6,681 | $5,537 | $8,461 | $7,139 | $6,681 | $6,816 | $6,747 | $7,941 | $6,778 | $6,930 |
Amount Deferred | $6,681 | $1,535 | $0 | $0 | $0 | $0 | $0 | $0 | $657 | $0 |
Global Unconstrained Bond Fund(j) | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
Amount Deferred | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
For Funds with fiscal period ending December 31 | ||||||||||
Real Estate Equity Fund | $2,879 | $2,106 | $3,570 | $3,047 | $2,853 | $2,899 | $2,865 | $3,389 | $2,905 | $2,942 |
Amount Deferred | $2,879 | $651 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
(a) | As of December 31, 2014, the value of Ms. Carrig’s account under the deferred compensation plan was $675,246. |
(b) | Mr. Drake served as Trustee until June 24, 2014. |
(c) | As of December 31, 2014, the value of Mr. Simpson’s account under the deferred compensation plan was $1,967,388. |
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(d) | As of December 31, 2014, the value of Ms. Verville’s account under the deferred compensation plan was $819,699. |
(e) | For the period from March 11, 2014 (commencement of operations) to January 31, 2015. |
(f) | For the period from March 27, 2015 (commencement of operations) to April 30, 2015. |
(g) | For the period from January 27, 2015 (commencement of operations) to May 31, 2015. |
(h) | For the period from February 19, 2015 (commencement of operations) to May 31, 2015. |
(i) | For the period from March 26, 2015 (commencement of operations) to July 31, 2015. |
(j) | The Fund commenced operations on June 30, 2015, and therefore has no reporting information for periods prior to such date. |
Statement of Additional Information – December 1, 2015 | 149 |
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Statement of Additional Information – December 1, 2015 | 150 |
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Statement of Additional Information – December 1, 2015 | 151 |
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Statement of Additional Information – December 1, 2015 | 152 |
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Total Brokerage Commissions | |||
Fund | 2015 | 2014 | 2013 |
For Funds with fiscal period ending January 31 | |||
Diversified Real Return Fund | $932 (a) | N/A | N/A |
For Funds with fiscal period ending March 31 | |||
AP – Growth Fund | 1,048,675 | $603,846 | $408,004 (b) |
Pacific/Asia Fund | 510,601 | 975,653 | 794,725 |
Select Large Cap Growth Fund | 2,312,302 | 2,355,987 | 2,086,104 |
For Funds with fiscal period ending April 30 | |||
Bond Fund | 15,224 | 14,153 | 21,942 |
Corporate Income Fund | 59,212 | 18,989 | 23,676 |
Intermediate Bond Fund | 72,702 | 62,945 | 80,619 |
Multi-Asset Income Fund | 42,481 (c) | N/A | N/A |
Small Cap Value Fund I | 2,305,255 | 2,220,756 | 2,478,374 |
U.S. Treasury Index Fund | 0 | 0 | 0 |
For Funds with fiscal period ending May 31 | |||
Adaptive Alternatives Fund | 23,795 (d) | N/A | N/A |
Adaptive Risk Allocation Fund | 210,129 | 38,958 | 3,356 (e) |
Diversified Absolute Return Fund | 618,976 (f) | N/A | N/A |
Dividend Income Fund | 2,285,197 | 2,025,676 | 1,853,861 |
HY Municipal Fund | 0 | 0 | 0 |
For Funds with fiscal period ending July 31 | |||
AMT-Free OR Intermediate Muni Bond Fund | 0 | 0 | 0 |
Global ILB Plus Fund | 199 | 161 (g) | N/A |
Large Cap Growth Fund | 1,344,066 | 2,033,118 | 2,900,260 |
Tax-Exempt Fund | 0 | 0 | 0 |
U.S. Social Bond Fund | 0 (h) | N/A | N/A |
Statement of Additional Information – December 1, 2015 | 153 |
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Total Brokerage Commissions | |||
Fund | 2015 | 2014 | 2013 |
Ultra Short Term Bond Fund | $0 | $0 | $0 |
Fund | 2014 | 2013 | 2012 |
For Funds with fiscal period ending August 31 | |||
AP – Alternative Strategies Fund | 922,515 | 544,925 | 264,107 (i) |
AP – Core Plus Bond Fund | 176,614 | 149,453 | 54,942 (j) |
AP – Small Cap Equity Fund | 1,184,871 | 965,684 | 4,440,156 (j) |
Balanced Fund | 710,397 | 524,505 | 587,880 |
Contrarian Core Fund | 2,340,216 | 1,494,935 | 1,516,809 (k) |
Emerging Markets Fund | 4,414,146 | 3,805,177 | 3,789,468 (l) |
Global Dividend Opportunity Fund | 1,393,143 | 890,272 | 1,570,568 |
Global Energy and Natural Resources Fund | 188,876 | 373,043 | 2,465,946 (l) |
Global Technology Growth Fund | 238,290 | 347,976 | 869,734 |
Greater China Fund | 372,496 | 390,131 | 225,863 |
Mid Cap Growth Fund | 2,780,196 | 3,171,321 | 3,638,725 |
Small Cap Core Fund | 638,076 | 800,017 | 669,303 (k) |
Small Cap Growth Fund I | 3,823,650 | 2,759,776 | 2,781,535 |
Value and Restructuring Fund | 1,112,941 | 1,328,880 | 5,937,219 (l) |
For Funds with fiscal period ending October 31 | |||
AMT-Free CT Intermediate Muni Bond Fund | 0 | 0 | 0 |
AMT-Free Intermediate Muni Bond Fund | 0 | 0 | 0 |
AMT-Free MA Intermediate Muni Bond Fund | 0 | 0 | 0 |
AMT-Free NY Intermediate Muni Bond Fund | 0 | 0 | 0 |
CA Tax-Exempt Fund | 0 | 0 | 0 |
Global Unconstrained Bond Fund(m) | N/A | N/A | N/A |
NY Tax-Exempt Fund | 0 | 0 | 0 |
Strategic Income Fund | 185,392 | 143,363 (n) | 137,974 (n) |
For Funds with fiscal period ending December 31 | |||
Real Estate Equity Fund | 354,039 | 816,359 | 640,257 |
(a) | For the period from March 11, 2014 (commencement of operations) to January 31, 2015. |
(b) | For the period from April 20, 2012 (commencement of operations) to March 31, 2013. |
(c) | For the period from March 27, 2015 (commencement of operations) to April 30, 2015. |
(d) | For the period from January 27, 2015 (commencement of operations) to May 31, 2015. |
(e) | For the period from June 19, 2012 (commencement of operations) to May 31, 2013. |
(f) | For the period from February 19, 2015 (commencement of operations) to May 31, 2015. |
(g) | For the period from March 12, 2014 (commencement of operations) to July 31, 2014. |
(h) | For the period from March 26, 2015 (commencement of operations) to July 31, 2015. |
(i) | For the period from April 23, 2012 (commencement of operations) to August 31, 2012. |
(j) | For the period from April 20, 2012 (commencement of operations) to August 31, 2012. |
(k) | Contrarian Core Fund and Small Cap Core Fund changed their fiscal year ends in 2012 from September 30 to August 31. For the fiscal year ended 2012, the information shown is for the period from October 1, 2011 to August 31, 2012. |
(l) | Emerging Markets Fund, Global Energy and Natural Resources Fund and Value and Restructuring Fund changed their fiscal year ends in 2012 from March 31 to August 31. For the fiscal year ended 2012, the information shown is for the 17-month period from April 1, 2011 to August 31, 2012. For the fiscal year ended March 31, 2012, Emerging Markets Fund paid brokerage commissions of $1,973,067, Global Energy and Natural Resources Fund paid brokerage commissions of 1,876,448, and Value and Restructuring Fund paid brokerage commissions of $2,905,070. For the fiscal period from April 1, 2012 to August 31, 2012, Emerging Markets Fund paid brokerage commissions of $1,816,401, Global Energy and Natural Resources Fund paid brokerage commissions of 589,498, and Value and Restructuring Fund paid brokerage commissions of $3,032,149. |
(m) | The Fund commenced operations on June 30, 2015, and therefore has no reporting information for periods prior to such date. |
Statement of Additional Information – December 1, 2015 | 154 |
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(n) | Strategic Income Fund changed its fiscal year end in 2012 from May 31 to October 31. For the fiscal year ended 2012, the information shown is for the 17-month period from June 1, 2011 to October 31, 2012. For the fiscal year ended May 31, 2012, Strategic Income Fund paid brokerage commissions of $73,021. For the fiscal period from June 1, 2012 to October 31, 2012, Strategic Income Fund paid brokerage commissions of $64,953. |
Brokerage directed for research | ||
Fund | Amount of Transactions | Amount of Commissions Imputed or Paid |
For Funds with fiscal period ending January 31 | ||
Diversified Real Return Fund | $0 (a) | $0 (a) |
For Funds with fiscal period ending March 31 | ||
AP – Growth Fund | 1,095,777,357 | 330,421 |
Pacific/Asia Fund | 45,675,765 | 52,753 |
Select Large Cap Growth Fund | 4,011,925,177 | 1,189,017 |
For Funds with fiscal period ending April 30 | ||
Bond Fund | 0 | 0 |
Corporate Income Fund | 0 | 0 |
Intermediate Bond Fund | 0 | 0 |
Multi-Asset Income Fund | 5,919,794 (b) | 2,495 (b) |
Small Cap Value Fund I | 539,408,444 | 1,054,771 |
U.S. Treasury Index Fund | 0 | 0 |
For Funds with fiscal period ending May 31 | ||
Adaptive Alternatives Fund | 0 (c) | 0 (c) |
Adaptive Risk Allocation Fund | 17,245,044 | 12,476 |
Diversified Absolute Return Fund | 0 (d) | 0 (d) |
Dividend Income Fund | 3,342,080,612 | 1,480,131 |
HY Municipal Fund | 0 | 0 |
Statement of Additional Information – December 1, 2015 | 155 |
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Brokerage directed for research | ||
Fund | Amount of Transactions | Amount of Commissions Imputed or Paid |
For Funds with fiscal period ending July 31 | ||
AMT-Free OR Intermediate Muni Bond Fund | $0 | $0 |
Global ILB Plus Fund | 0 | 0 |
Large Cap Growth Fund | 2,194,385,745 | 665,395 |
Tax-Exempt Fund | 0 | 0 |
U.S. Social Bond Fund | 0 (f) | 0 (f) |
Ultra Short Term Bond Fund | 0 | 0 |
For Funds with fiscal period ending August 31 | ||
AP – Alternative Strategies Fund | 1,659,621,155 | 191,977 |
AP – Core Plus Bond Fund | 0 | 0 |
AP – Small Cap Equity Fund | 147,199,850 | 233,360 |
Balanced Fund | 1,369,786,345 | 575,222 |
Contrarian Core Fund | 3,948,491,033 | 1,543,875 |
Emerging Markets Fund | 341,200,304 | 501,740 |
Global Dividend Opportunity Fund | 324,771,955 | 301,033 |
Global Energy and Natural Resources Fund | 83,623,319 | 43,027 |
Global Technology Growth Fund | 16,480,991 | 13,389 |
Greater China Fund | 31,227,940 | 42,768 |
Mid Cap Growth Fund | 652,223,025 | 347,422 |
Small Cap Core Fund | 115,677,000 | 111,494 |
Small Cap Growth Fund I | 339,207,845 | 321,846 |
Value and Restructuring Fund | 2,071,491,960 | 893,108 |
For Funds with fiscal period ending October 31 | ||
AMT-Free CT Intermediate Muni Bond Fund | 0 | 0 |
AMT-Free Intermediate Muni Bond Fund | 0 | 0 |
AMT-Free MA Intermediate Muni Bond Fund | 0 | 0 |
AMT-Free NY Intermediate Muni Bond Fund | 0 | 0 |
CA Tax-Exempt Fund | 0 | 0 |
Global Unconstrained Bond Fund | N/A (g) | N/A (g) |
NY Tax-Exempt Fund | 0 | 0 |
Strategic Income Fund | 0 | 0 |
For Funds with fiscal period ending December 31 | ||
Real Estate Equity Fund | 52,810,478 | 31,920 |
(a) | For the period from March 11, 2014 (commencement of operations) to January 31, 2015. |
(b) | For the period from March 27, 2015 (commencement of operations) to April 30, 2015. |
(c) | For the period from January 27, 2015 (commencement of operations) to May 31, 2015. |
(d) | For the period from February 19, 2015 (commencement of operations) to May 31, 2015. |
(e) | For the period from March 12, 2014 (commencement of operations) to July 31, 2014. |
(f) | For the period from March 26, 2015 (commencement of operations) to July 31, 2015. |
(g) | The Fund commenced operations on June 30, 2015, and therefore has no reporting information for periods prior to such date. |
Statement of Additional Information – December 1, 2015 | 156 |
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Fund | Issuer | Value of securities owned at end of fiscal period |
For Funds with fiscal period ending January 31, 2015 | ||
Diversified Real Return | None | N/A |
For Funds with fiscal period ending March 31, 2015 | ||
AP – Growth Fund | None | N/A |
Pacific/Asia Fund | None | N/A |
Select Large Cap Growth Fund | None | N/A |
For Funds with fiscal period ending April 30, 2015 | ||
Bond Fund | Chase Issuance Trust | $3,676,886 |
Citigroup, Inc. | $8,165,119 | |
Citigroup Mortgage Loan Trust, Inc. | $1,342,892 | |
Credit Suisse Mortgage Capital Certificates | $851,419 | |
Credit Suisse Commercial Mortgage Trust | $3,026,095 | |
Jefferies Resecuritization Trust | $2,086,996 | |
JPMorgan Chase & Co. | $3,816,120 | |
JPMorgan Chase Capital XXI | $211,467 | |
JPMorgan Chase Commercial Mortgage Securities Trust | $2,781,853 | |
LB-UBS Commercial Mortgage Trust | $2,542,217 | |
Merrill Lynch Mortgage Investors Trust | $6,694 | |
Merrill Lynch/Countrywide Commercial Mortgage Trust | $4,733,668 | |
Banc of America Merrill Lynch Commercial Mortgage, Inc. | $1,753,414 | |
Morgan Stanley Re-Remic Trust | $4,406,880 | |
PNC Financial Services Group, Inc.(The) | $3,913,417 | |
Corporate Income Fund | E*TRADE Financial Corp. | $819,295 |
The Goldman Sachs Group, Inc. | $5,288,037 |
Statement of Additional Information – December 1, 2015 | 157 |
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Fund | Issuer | Value of securities owned at end of fiscal period |
Intermediate Bond Fund | Chase Issuance Trust | $35,209,907 |
Citigroup, Inc. | $16,746,414 | |
Citigroup Commercial Mortgage Trust | $5,283,450 | |
Citigroup/Deutsche Bank Commercial Mortgage Trust | $2,044,175 | |
Citigroup Mortgage Loan Trust, Inc. | $40,341,663 | |
Citigroup Capital XIII | $14,782,103 | |
Credit Suisse Mortgage Capital Certificates | $33,011,047 | |
Credit Suisse Commercial Mortgage Trust | $6,287,990 | |
Credit Suisse Securities (USA) LLC | $8,583,049 | |
Credit Suisse First Boston Mortgage Securities Corp. | $4,722,937 | |
E*TRADE Financial Corp. | $659,909 | |
GS Mortgage Securities Trust | $16,447,427 | |
Jefferies Resecuritization Trust | $1,128,972 | |
JPMorgan Chase & Co. | $14,746,165 | |
JPMorgan Chase Bank | $10,823,776 | |
JPMorgan Chase Capital XXI | $21,909,212 | |
JPMorgan Chase Commercial Mortgage Securities Trust | $445,001 | |
JPMorgan Resecuritization Trust | $7,987,351 | |
LB Commercial Mortgage Trust | $5,040,353 | |
LB-UBS Commercial Mortgage Trust | $15,863,216 | |
Merrill Lynch Capital Trust | $2,172,600 | |
Merrill Lynch Mortgage Investors Trust | $43,779 | |
Merrill Lynch/Countrywide Commercial Mortgage Trust | $17,695,341 | |
Banc of America Merrill Lynch Commercial Mortgage, Inc. | $4,264,625 | |
Banc of America Merrill Lynch Commercial Mortgage Securities Trust | $6,712,840 | |
Banc of America Merrill Lynch Re-Remic Trust | $911,580 | |
Morgan Stanley Bank of America Merrill Lynch Trust | $13,673,211 | |
Morgan Stanley Re-Remic Trust | $21,078,641 | |
PNC Financial Services Group, Inc.(The) | $11,373,449 | |
Multi-Asset Income Fund | Citigroup, Inc. | $258,009 |
Citigroup Mortgage Loan Trust, Inc. | $1,541,440 | |
Credit Suisse Mortgage Capital Certificates | $951,889 | |
Credit Suisse Group AG | $3,100,000 | |
E*TRADE Financial Corp. | $114,380 | |
GS Mortgage Securities Trust | $511,093 | |
The Goldman Sachs Group, Inc. | $125,265 | |
JPMorgan Chase & Co. | $301,623 | |
PNC Financial Services Group, Inc.(The) | $279,145 | |
Small Cap Value Fund I | None | N/A |
U.S. Treasury Index Fund | None | N/A |
Statement of Additional Information – December 1, 2015 | 158 |
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Fund | Issuer | Value of securities owned at end of fiscal period |
For Funds with fiscal period ending May 31, 2015 | ||
Adaptive Alternatives Fund | None | N/A |
Adaptive Risk Allocation Fund | None | N/A |
Diversified Absolute Return Fund | TD Ameritrade Holding Corp. | $(64,307) |
Citigroup, Inc. | $216,861 | |
Credit Suisse Mortgage Capital Certificates | $716,279 | |
The Goldman Sachs Group, Inc. | $436,504 | |
Legg Mason, Inc. (subsidiary) | $(61,951) | |
Banc of America Merrill Lynch Re-Remic Trust | $492,626 | |
Dividend Income Fund | JPMorgan Chase & Co. | $251,575,610 |
PNC Financial Services Group, Inc.(The) | $100,799,846 | |
High Yield Municipal Fund | None | N/A |
For Funds with fiscal period ending July 31, 2015 | ||
AMT-Free OR Intermediate Muni Bond Fund | None | N/A |
Global ILB Plus Fund | None | N/A |
Large Cap Growth Fund | TD Ameritrade Holding Corp. | $25,979,129 |
The Goldman Sachs Group, Inc. | $26,638,593 | |
Tax-Exempt Fund | None | N/A |
U.S. Social Bond Fund | Morgan Stanley | $252,638 |
Ultra Short Term Bond Fund | Bear Stearns Commercial Mortgage Securities | $5,305,038 |
Citigroup, Inc. | $10,025,420 | |
Credit Suisse Commercial Mortgage Trust | $8,818,148 | |
The Goldman Sachs Group, Inc. | $12,997,491 | |
JPMorgan Chase & Co. | $7,642,635 | |
JPMorgan Chase Bank | $7,485,150 | |
LB-UBS Commercial Mortgage Trust | $27,048,772 | |
Banc of America Merrill Lynch Commercial Mortgage, Inc. | $9,886,605 | |
Morgan Stanley | $10,215,890 | |
Morgan Stanley Capital | $4,993,941 | |
For Funds with fiscal period ending August 31, 2014 | ||
AP – Alternative Strategies Fund | Citigroup, Inc. | $5,443,290 |
Nuveen Investments, Inc. | $1,751,010 | |
PNC Preferred Funding Trust I | $2,424,960 |
Statement of Additional Information – December 1, 2015 | 159 |
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Fund | Issuer | Value of securities owned at end of fiscal period |
AP – Core Plus Bond Fund | Chase Issuance Trust | $9,367,985 |
Citigroup, Inc. | $43,829,214 | |
Citigroup Commercial Mortgage Trust | $2,200,091 | |
Citigroup/Deutsche Bank Commercial Mortgage Trust | $815,572 | |
Citigroup Mortgage Loan Trust, Inc. | $9,013,813 | |
Citigroup Capital XIII | $10,626,188 | |
Credit Suisse Commercial Mortgage Trust | $7,605,106 | |
Credit Suisse First Boston Mortgage Securities Corp. | $1,659,171 | |
Credit Suisse Mortgage Capital Certificates | $7,362,687 | |
Credit Suisse Securities (USA) LLC | $3,029,427 | |
Credit Suisse NY | $9,999,011 | |
E*TRADE Financial Corp. | $199,485 | |
GS Mortgage Securities Trust | $9,843,437 | |
The Goldman Sachs Group, Inc. | $18,578,724 | |
Jefferies Group LLC | $5,249,457 | |
Jefferies Resecuritization Trust | $352,958 | |
JPMorgan Chase & Co. | $18,837,461 | |
JPMorgan Chase Bank NA | $4,445,510 | |
JPMorgan Chase Capital XXI | $25,821,980 | |
JPMorgan Chase Capital XXIII | $8,525,330 | |
JPMorgan Chase Commercial Mortgage Securities Trust | $38,196,417 | |
JPMorgan Mortgage Acquisition Corp. | $2,611,383 | |
JPMorgan Mortgage Trust | $3,253,307 | |
LB-UBS Commercial Mortgage Trust | $11,194,086 | |
Lehman XS Trust | $12,204,718 | |
Merrill Lynch/Countrywide Commercial Mortgage Trust | $12,521,237 | |
Banc of America Merrill Lynch Commercial Mortgage, Inc. | $6,375,967 | |
Morgan Stanley | $11,734,961 | |
Morgan Stanley Capital I Trust | $35,641,757 | |
Morgan Stanley Mortgage Loan Trust | $7,838,485 | |
Morgan Stanley Re-remic Trust | $16,780,547 | |
Morgan Stanley Resecuritization Trust | $2,383,686 | |
Nuveen Investments, Inc. | $382,985 | |
PNC Financial Services Group, Inc.(The) | $6,720,583 | |
PNC Funding Corp. | $2,896,698 | |
Raymond James Financial, Inc. | $3,516,856 | |
Stifel Financial Corp. | $763,003 | |
UBS-Citigroup Commercial Mortgage Trust | $4,043,797 | |
TD Ameritrade Holding Corp. | $1,008,997 | |
AP – Small Cap Equity Fund | Piper Jaffray Companies | $2,655,567 |
Westwood Holdings Group, Inc. | $3,176,680 |
Statement of Additional Information – December 1, 2015 | 160 |
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Fund | Issuer | Value of securities owned at end of fiscal period |
Balanced Fund | Bear Stearns Commercial Mortgage Securities | $5,058,767 |
Bear Stearns Companies | $3,533,793 | |
Citigroup, Inc. | $47,831,961 | |
Citigroup Commercial Mortgage Trust | $1,508,793 | |
Citigroup/Deutsche Bank Commercial Mortgage Trust | $864,703 | |
Credit Suisse Commercial Mortgage Trust | $46,920 | |
E*TRADE Financial Corp. | $160,875 | |
GS Mortgage Securities Trust | $1,057,290 | |
The Goldman Sachs Group, Inc. | $34,038,327 | |
JPMorgan Chase & Co. | $47,624,979 | |
JPMorgan Chase Commercial Mortgage Securities Trust | $7,859,841 | |
JPMorgan Resecuritization Trust | $1,590,411 | |
LB-UBS Commercial Mortgage Trust | $463,206 | |
Morgan Stanley | $2,576,359 | |
Morgan Stanley Capital I, Inc. | $1,952,387 | |
Morgan Stanley Re-Remic Trust | $785,031 | |
Nuveen Investments, Inc. | $134,110 | |
PNC Financial Services Group, Inc.(The) | $2,146,388 | |
Contrarian Core Fund | Citigroup, Inc. | $151,468,067 |
The Goldman Sachs Group, Inc. | $106,346,562 | |
JPMorgan Chase & Co. | $163,368,481 | |
Emerging Markets Fund | None | N/A |
Global Dividend Opportunity Fund | JPMorgan Chase & Co. | $2,947,115 |
Global Energy and Natural Resources Fund | None | N/A |
Global Technology Growth Fund | None | N/A |
Greater China Fund | None | N/A |
Mid Cap Growth Fund | Affiliated Managers Group, Inc. | $37,381,996 |
Small Cap Core Fund | Investment Technology Group, Inc. | $3,255,813 |
Small Cap Growth Fund I | None | N/A |
Value and Restructuring Fund | Citigroup, Inc. | $64,725,198 |
The Goldman Sachs Group, Inc. | $40,340,050 | |
JPMorgan Chase & Co. | $73,566,402 | |
For Funds with fiscal period ending October 31, 2014 | ||
AMT-Free CT Intermediate Muni Bond Fund | None | N/A |
AMT-Free Intermediate Muni Bond Fund | None | N/A |
AMT-Free MA Intermediate Muni Bond Fund | None | N/A |
AMT-Free NY Intermediate Muni Bond Fund | None | N/A |
CA Tax-Exempt Fund | None | N/A |
Global Unconstrained Bond Fund(a) | N/A | N/A |
NY Tax-Exempt Fund | None | N/A |
Strategic Income Fund | None | N/A |
For Funds with fiscal period ending December 31, 2014 | ||
Real Estate Equity Fund | None | N/A |
(a) | The Fund commenced operations on June 30, 2015, and therefore has no reporting information for periods prior to such date. |
Statement of Additional Information – December 1, 2015 | 161 |
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Fund | Predecessor Fund | For periods prior to: | ||
Bond Fund | Excelsior Core Bond Fund, a series of Excelsior Funds, Inc. | March 31, 2008 | ||
CT Intermediate Municipal Bond Fund | Galaxy Connecticut Intermediate Municipal Bond Fund, a series of The Galaxy Fund | November 18, 2002 | ||
Contrarian Core Fund | Galaxy Growth & Income Fund, a series of The Galaxy Fund | December 9, 2002 | ||
Dividend Income Fund | Galaxy Strategic Equity Fund, a series of The Galaxy Fund | November 25, 2002 | ||
Emerging Markets Fund | Excelsior Emerging Markets Fund, a series of Excelsior Funds, Inc. | March 31, 2008 | ||
Global Energy and Natural Resources Fund | Excelsior Energy and Natural Resources Fund, a series of Excelsior Funds, Inc. | March 31, 2008 | ||
Intermediate Municipal Bond Fund | Galaxy Intermediate Tax-Exempt Bond Fund, a series of The Galaxy Fund | November 25, 2002 | ||
Large Cap Growth Fund | Galaxy Equity Growth Fund, a series of The Galaxy Fund | November 18, 2002 | ||
MA Intermediate Municipal Bond Fund | Galaxy Massachusetts Intermediate Municipal Bond Fund, a series of The Galaxy Fund | December 9, 2002 | ||
Pacific/Asia Fund | Excelsior Pacific/Asia Fund, a series of Excelsior Funds, Inc. | March 31, 2008 | ||
Select Large Cap Growth Fund | Excelsior Large Cap Growth Fund, a series of Excelsior Funds, Inc. | March 31, 2008 | ||
Small Cap Core Fund | Galaxy Small Cap Value Fund, a series of The Galaxy Fund | November 18, 2002 | ||
U.S. Treasury Index Fund | Galaxy II U.S. Treasury Index Fund, a series of The Galaxy Fund | November 25, 2002 |
Statement of Additional Information – December 1, 2015 | 162 |
Table of Contents
Fund | Predecessor Fund | For periods prior to: | ||
Value and Restructuring Fund | Excelsior Value and Restructuring Fund, a series of Excelsior Funds, Inc. | March 31, 2008 |
■ | For equity, alternative and flexible funds (other than the equity funds identified below) and funds-of-funds (equity and fixed income), a complete list of Fund portfolio holdings as of month-end is posted approximately, but no earlier than, 15 calendar days after such month-end. |
■ | For Funds formerly subadvised by Marsico Capital, Columbia Small Cap Growth Fund I and Columbia Variable Portfolio – Small Company Growth Fund, a complete list of Fund portfolio holdings as of month-end is posted approximately, but no earlier than, 30 calendar days after such month-end. |
■ | For fixed-income Funds (other than money market funds), a complete list of Fund portfolio holdings as of calendar quarter-end is posted approximately, but no earlier than, 30 calendar days after such quarter-end. |
■ | For money market Funds, a complete list of Fund portfolio holdings as of month-end is posted no later than five business days after such month-end. Such month-end holdings are continuously available on the website for at least six months, together with a link to an SEC webpage where a user of the website may obtain access to the Fund’s most recent 12 months of publicly available filings on Form N-MFP. Money market Fund portfolio holdings information posted on the website, at minimum, includes with respect to each holding, the name of the issuer, the category of investment (e.g., Treasury debt, government agency debt, asset backed commercial paper, structured investment vehicle note), the CUSIP number (if any), the principal amount, the maturity date (as determined under Rule 2a-7 for purposes of calculating weighted average maturity), |
Statement of Additional Information – December 1, 2015 | 163 |
Table of Contents
the final maturity date (if different from the maturity date previously described), coupon or yield and the amortized cost value. The money market Funds will also disclose on the website the overall weighted average maturity and weighted average life maturity of a holding. |
Statement of Additional Information – December 1, 2015 | 164 |
Table of Contents
Identity of Recipient | Conditions/restrictions on use of information | Frequency of Disclosure | ||
Recipients under arrangements with the Funds or Investment Manager: | ||||
Barclays Capital | Used for analytics including risk and attribution assessment. | Daily | ||
BlackRock | Used for fixed income trading and decision support. | Daily | ||
Bloomberg | Used for portfolio analytics, statistical analysis and independent research. | Daily, Monthly and Quarterly | ||
Boston Investors Communications Group, LLC (BICG) | Used for writing services that require disclosing portfolio holdings in advance of their dissemination to the general public. | Monthly | ||
Capital Markets Services (CMS) Group | Used for intraday post-trade information when equity exposures (either via futures or options trades) are modified beyond certain limits for CVP – Managed Volatility Funds. | As Needed | ||
Catapult | Used to print Columbia Fund factsheets. | As Needed |
Statement of Additional Information – December 1, 2015 | 165 |
Table of Contents
Identity of Recipient | Conditions/restrictions on use of information | Frequency of Disclosure | ||
Citigroup | Used for mortgage decision support. | Daily | ||
Equifax | Used to ensure that Columbia does not violate the Office of Foreign Assets Control (OFAC) sanction requirements. | Daily | ||
Ernst & Young, LLP | Used to analyze PFIC investments. | Monthly | ||
Eva Dimensions | Used as a research service for small cap stock. | As Needed | ||
Eze Software Group | Used to facilitate the evaluation of commission rates and to provide flexible commission reporting. | Daily | ||
FactSet Research Systems, Inc. | Used for provision of quantitative analytics, charting and fundamental data and for portfolio analytics. Used also to cover product and marketing developments related to index funds, ETFs, index derivatives, and other sophisticated investment strategies. | Daily or Monthly | ||
Fundtech Financial Messaging | Used to send trade messages via SWIFT, to custodians. | Daily | ||
Harte-Hanks | Used for printing of prospectuses, factsheets, annual and semi-annual reports. | As Needed | ||
Institutional Shareholder Services Inc. (ISS) | Used for proxy voting administration and research on proxy matters. | Daily | ||
Intex Solutions Inc. | Used to provide mortgage analytics. | Periodic | ||
Investment Technology Group, Inc. | Used to evaluate and assess trading activity, execution and practices. | Quarterly | ||
Investor Tools | Used for municipal bond analytics, research and decision support. | As Needed | ||
JDP Marketing Services | Used to write or edit Columbia Fund shareholder reports, quarterly fund commentaries, and communications, including shareholder letters and management’s discussion of Columbia Fund performance. | Monthly, as needed | ||
Kynex | Used to provide portfolio attribution reports for the Columbia Convertible Securities Fund. Used also for portfolio analytics. | Daily | ||
Malaspina Communications | Used to facilitate writing management’s discussion of Columbia Fund performance for Columbia Fund shareholder reports and periodic marketing communications. | Monthly | ||
Markit | Used for an asset database for analytics and investor reporting. | As Needed | ||
Merrill Corporation | Used to provide Edgar filing and typesetting services, as well as printing of prospectuses, factsheets, annual and semi-annual reports. | As Needed | ||
MoneyMate | Used to report returns and analytics to client facing materials. | Monthly |
Statement of Additional Information – December 1, 2015 | 166 |
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Identity of Recipient | Conditions/restrictions on use of information | Frequency of Disclosure | ||
Morningstar | Used for independent research and ranking of funds, and to fulfill role as investment consultant for fund-of-funds product. Used also for statistical analysis. | Monthly, Quarterly or As Needed | ||
MSCI Inc. | Used as a hosted portfolio management platform designed for research, reporting, strategy development, portfolio construction and performance and risk attribution, and used for risk analysis and reporting. | Daily | ||
Print Craft | Used to assemble kits and mailing that include the fact sheets. | As Needed | ||
R.R. Donnelley & Sons Company | Used to provide Edgar filing and typesetting services, and printing of prospectuses, factsheets, annual and semi-annual reports. | As Needed | ||
SEI Investment Company | Used for trading wrap accounts and to reconcile wrap accounts. | Daily | ||
StoneRiver RegEd, Inc. | Used to review external and certain internal communications prior to dissemination. | Daily | ||
SunGard Investment Systems LLC | Used as portfolio accounting system. | Daily | ||
Sustainalytics US Inc. | Used to support the investment process for Columbia U.S. Social Bond Fund. | At least Monthly | ||
Thomson Reuters | Used for statistical analysis. | Monthly | ||
Threadneedle Investments | Used by portfolio managers and research analysts in supporting certain management strategies, and by shared support partners (legal, operations, compliance, risk, etc.) to provide Fund maintenance and development. | As Needed | ||
Universal Wilde | Used to provide printing and mailing services for prospectuses, annual and semi-annual reports, and supplements. | As Needed | ||
Wilshire Associates, Inc. | Used to provide daily performance attribution reporting based on daily holdings to the investment and investment analytics teams. | Daily | ||
Wolters Kluwer | Used to perform tax calculations specific to wash sales and used to analyze tax straddles (diminution of risk). | Monthly |
Identity of Recipient | Conditions/restrictions on use of information | Frequency of Disclosure | ||
Recipients under arrangements with subadvisers: | ||||
Advent Software Inc. | Used by certain subadvisers for portfolio management information systems. | Daily | ||
Advisory Compliance Associates Group | Used by certain subadvisers for best execution analysis. | Quarterly | ||
Barclays Capital | Used by certain subadvisers for analytics and modeling. | Daily | ||
Bloomberg | Used by certain subadvisers for internal reporting and portfolio analysis, for trade order management and for analytical and statistical information. | Daily |
Statement of Additional Information – December 1, 2015 | 167 |
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Identity of Recipient | Conditions/restrictions on use of information | Frequency of Disclosure | ||
ByAllAccounts | Used by certain subadvisers to obtain client holdings reports from recordkeepers sent to SmartStream. | Daily | ||
Capital IQ | Used by certain subadvisers for internal reporting and portfolio analysis. | Daily | ||
Charles River | Used by certain subadvisers for order management. | Daily | ||
Electra Information Systems, Inc. | Used by certain subadvisers for portfolio holdings reconciliation. | Daily | ||
Ernst & Young, LLP | Used by certain subadvisers to provide general audit services. | Semi-annually | ||
FactSet Research Systems, Inc. | Used by certain subadvisers for analytical and statistical information, and for internal reporting and portfolio analysis. | Daily | ||
Financial Recovery Technologies Services | Used by certain subadvisers for class action monitoring. | Quarterly | ||
Glass Lewis | Used by certain subadvisers for proxy voting services. | Daily | ||
Infinit-O | Used by certain subadvisers for reconciling cash and positions. | Daily | ||
Informa Investment Solutions | Used by certain subadvisers for performance and accounting. | Daily | ||
Institutional Shareholder Services Inc. (“ISS”) | Used by certain subadvisers for proxy voting services. | Daily | ||
MSCI Barra | Used by certain subadvisers for portfolio analytics and analysis. | Daily | ||
Northern Trust | Used by certain subadvisers for settlement, accounting, reconciliation and performance. | Daily | ||
Omgeo, LLC | Used by certain subadvisers for trade settlement and trade order management. | Daily | ||
SmartStream | Used by certain subadvisers for back office transactions and holdings reconciliation. | Daily | ||
SunGard Data Systems, Inc. | Used by certain subadvisers for corporate actions. | Daily | ||
Sustainalytics | Used by certain subadvisers for internal reporting and portfolio analysis. | Daily | ||
The Yield Book | Used by certain subadvisers for analytics and modeling. | Daily | ||
William O’Neil | Used by certain subadvisers for research, analytical and statistical information. | Daily |
Statement of Additional Information – December 1, 2015 | 168 |
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■ | ADP Broker-Dealer, Inc. |
■ | American Enterprise Investment Services Inc.* |
■ | American United Life Insurance Co. |
■ | Ameriprise Financial Services, Inc.* |
■ | Ascensus, Inc. |
■ | AXA Advisors |
■ | AXA Equitable Life Insurance |
■ | Bank of America, N.A. |
■ | Benefit Plan Administrators |
■ | Benefit Trust |
■ | Charles Schwab & Co., Inc. |
■ | Charles Schwab Trust Co. |
■ | Davenport & Company City National Bank |
■ | Daily Access Concepts, Inc. |
■ | Digital Retirement Solutions |
■ | Edward D. Jones & Co., LP |
■ | ExpertPlan |
■ | Fidelity Brokerage Services, Inc. |
■ | Fidelity Investments Institutional Operations Co. |
■ | First Clearing, LLC |
■ | First Mercantile Trust Co. |
■ | Guardian Insurance and Annuity Company Inc. |
■ | Genworth Life and Annuity Insurance Company |
■ | Genworth Life Insurance Co. of New York |
■ | GWFS Equities, Inc. |
■ | Hartford Life Insurance Company |
■ | HD Vest |
■ | Hewitt Associates LLC |
■ | ICMA Retirement Corporation |
■ | Janney Montgomery Scott, Inc. |
■ | JJB Hilliard Lyons |
■ | JP Morgan Chase Bank |
■ | John Hancock Life Insurance Company (USA) |
■ | John Hancock Life Insurance Company of New York |
■ | JP Morgan Retirement Plan Services LLC |
■ | Lincoln Life & Annuity Company of New York |
■ | Lincoln National Life Insurance Company |
■ | Lincoln Retirement Services |
■ | LPL Financial Corporation |
■ | BMO Harris Bank (f/k/a Marshall & Illsley Trust Company) |
■ | Massachusetts Mutual Life Insurance Company |
■ | Mercer HR Services, LLC |
■ | Merrill Lynch, Pierce, Fenner & Smith Incorporated |
■ | Mid Atlantic Capital Corporation |
■ | Minnesota Life Insurance Co. |
■ | Morgan Stanley Smith Barney |
■ | MSCS Financial Services Division of Broadridge Business Process Outsourcing LLC |
■ | National Financial Services |
■ | Nationwide Investment Services |
■ | Newport Retirement Services, Inc. |
■ | New York State Deferred Compensation Plan |
■ | NYLife Distributors LLC |
■ | Oppenheimer & Co., Inc. |
■ | Plan Administrators, Inc. |
■ | PNC Bank |
■ | Principal Life Insurance Company of America |
■ | Prudential Insurance Company of America |
■ | Prudential Retirement Insurance & Annuity Company |
Statement of Additional Information – December 1, 2015 | 169 |
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■ | Pershing LLC |
■ | Raymond James & Associates |
■ | RBC Capital Markets |
■ | Reliance Trust |
■ | Robert W. Baird & Co., Inc. |
■ | Sammons Retirement Solutions |
■ | SEI Private Trust Company |
■ | Standard Insurance Company |
■ | Stifel Nicolaus & Co. |
■ | TD Ameritrade Clearing, Inc. |
■ | TD Ameritrade Trust Company |
■ | The Retirement Plan Company |
■ | Teachers Insurance and Annuity Association of America |
■ | Transamerica Advisors Life Insurance Company |
■ | Transamerica Financial Life Insurance Company |
■ | T. Rowe Price Group, Inc. |
■ | UBS Financial Services, Inc. |
■ | Unified Trust Company, N.A. |
■ | Upromise Investments, Inc. |
■ | US Bank NA |
■ | Vanguard Group, Inc. |
■ | VALIC Retirement Services Company |
■ | Voya Retirement Insurance and Annuity Company |
■ | Voya Institutional Plan Services, LLP |
■ | Voya Investments Distributors, LLC |
■ | Wells Fargo Advisors, LLC |
■ | Wells Fargo Bank, N.A. |
■ | Wilmington Trust Retirement & Institutional Services Company |
■ | Xerox HR Solutions |
* | Ameriprise Financial affiliate |
Statement of Additional Information – December 1, 2015 | 170 |
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■ | AIG Advisor Group |
■ | Ameriprise Financial Services, Inc.* |
■ | AXA Advisors, LLC |
■ | Bank of America, N.A. |
■ | Cetera Financial Group, Inc. |
■ | Citigroup Global Markets Inc./Citibank |
■ | Commonwealth Financial Network |
■ | First Clearing, LLC |
■ | Great West |
■ | Investacorp |
■ | J.J.B. Hilliard, W.L. Lyons, Inc. |
■ | Lincoln Financial Advisors Corp. |
■ | Linsco/Private Ledger Corp. |
■ | Merrill Lynch, Pierce, Fenner & Smith Incorporated |
■ | Morgan Stanley Smith Barney |
■ | Northwestern Mutual Investment Services, LLC |
■ | Oppenheimer & Co., Inc. |
■ | PNC Investments |
■ | Raymond James & Associates, Inc. |
■ | Raymond James Financial Services, Inc. |
■ | RBC Capital Markets |
■ | Securities America, Inc. |
■ | Triad Advisors |
■ | UBS Financial Services Inc. |
Statement of Additional Information – December 1, 2015 | 171 |
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■ | US Bancorp Investments, Inc. |
■ | Wells Fargo Advisors, LLC |
■ | Wells Fargo Advisors Financial Network, LLC |
■ | Vanguard Marketing Corp |
* | Ameriprise Financial affiliate |
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Fund | Total Capital Loss Carryovers | Amount Expiring in | Amount not Expiring | ||||||
2015 | 2016 | 2017 | 2018 | 2019 | Short-term | Long-term | |||
For Funds with fiscal period ending January 31 | |||||||||
Diversified Real Return Fund | $29,673 | $0 | $0 | $0 | $0 | $0 | $6,407 | $23,266 | |
For Funds with fiscal period ending March 31 | |||||||||
Pacific/Asia Fund | $10,567,071 | $0 | $0 | $173,275 | $9,603,381 | $790,415 | $0 | $0 | |
For Funds with fiscal period ending April 30 | |||||||||
Corporate Income Fund | $6,175,937 | $0 | $0 | $0 | $0 | $0 | $0 | $6,175,937 | |
For Funds with fiscal period ending May 31 | |||||||||
Adaptive Alternatives Fund | $1,159,101 | $0 | $0 | $0 | $0 | $0 | $964,482 | $194,619 | |
HY Municipal Fund | $80,326,815 | $0 | $5,694,295 | $17,741,445 | $35,721,468 | $4,244,605 | $1,742,150 | $15,182,852 | |
For Funds with fiscal period ending July 31 | |||||||||
AMT-Free OR Intermediate Muni Bond Fund | $1,378,898 | $0 | $0 | $0 | $0 | $0 | $1,378,898 | $0 | |
Global ILB Plus Fund | $8,006 | $0 | $0 | $0 | $0 | $0 | $5,483 | $2,523 | |
Tax-Exempt Fund | $45,506,818 | $0 | $24,820,789 | $0 | $6,621,391 | $14,064,638 | $0 | $0 | |
U.S. Social Bond Fund | $9,878 | $0 | $0 | $0 | $0 | $0 | $9,878 | $0 | |
Ultra Short Term Bond Fund | $24,604,182 | $0 | $213,699 | $2,249,159 | $1,023,617 | $11,369,928 | $3,417,204 | $6,330,575 | |
For Funds with fiscal period ending August 31 | |||||||||
AP – Core Plus Bond Fund | $10,235,782 | $0 | $0 | $0 | $0 | $0 | $0 | $10,235,782 | |
Emerging Markets Fund | $6,941,797 | $0 | $0 | $0 | $0 | $0 | $6,941,797 | $0 | |
Global Dividend Opportunity Fund | $13,204,583 | $0 | $0 | $13,204,583 | $0 | $0 | $0 | $0 | |
Mid Cap Growth Fund | $57,409,354 | $13,701,986 | $43,707,368 | $0 | $0 | $0 | $0 | $0 | |
Small Cap Growth Fund I | $4,067,520 | $0 | $4,067,520 | $0 | $0 | $0 | $0 | $0 |
Statement of Additional Information – December 1, 2015 | 180 |
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Fund | Total Capital Loss Carryovers | Amount Expiring in | Amount not Expiring | |||||
2015 | 2016 | 2017 | 2018 | 2019 | Short-term | Long-term | ||
For Funds with fiscal period ending October 31 | ||||||||
AMT-Free Intermediate Muni Bond Fund | $21,008,599 | $0 | $0 | $832,773 | $62,558 | $0 | $18,581,374 | $1,531,894 |
AMT-Free MA Intermediate Muni Bond Fund | $354,824 | $0 | $0 | $0 | $0 | $0 | $354,824 | $0 |
AMT-Free NY Intermediate Muni Bond Fund | $1,888,218 | $0 | $0 | $946,916 | $0 | $0 | $941,302 | $0 |
NY Tax-Exempt Fund | $381,066 | $0 | $0 | $0 | $0 | $0 | $381,066 | $0 |
For Funds with fiscal period ending December 31 | ||||||||
Real Estate Equity Fund | $21,816,217 | $6,294,337 | $10,496,317 | $5,025,563 | $0 | $0 | $0 | $0 |
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Certain Funds may qualify for and make the election; however, even if a Fund qualifies for the election for any year, it may determine not to make the election for such year. If a Fund does not so qualify or qualifies but does not so elect, then shareholders will not be entitled to claim a credit or deduction with respect to foreign taxes paid by or withheld from payments to the Fund. A Fund will notify its shareholders in written statements if it has elected for the foreign taxes paid by it to “pass through” for that year.
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Fund | Class | Percentage of Class Beneficially Owned |
Adaptive Risk Allocation Fund | Class Z | 10.75% |
Greater China Fund | Class Z | 1.26% |
Fund | Shareholder Name and Address | Share Class | Percentage of Class | Percentage of Fund (if greater than 25%) |
Diversified Real Return Fund | ANASTASIA G PASMANIK 15 E RANDALL ST BALTIMORE MD 21230-4531 | Class C | 17.02% | N/A |
COLUMBIA MGMT INVESTMENT ADVSR LLC ATTN KATRINA MACBAIN 50807 AMERIPRISE FINANCIAL CTR MINNEAPOLIS MN 55474-0508 | Class A | 39.57% | 99.80% (a) | |
Class C | 82.98% | |||
Class R4 | 76.41% | |||
Class R5 | 100.00% | |||
Class W | 100.00% | |||
Class Z | 100.00% | |||
LPL FINANCIAL 9785 TOWNE CENTRE DR SAN DIEGO CA 92121-1968 | Class A | 19.75% | N/A | |
PERSHING LLC 1 PERSHING PLZ JERSEY CITY NJ 07399-0002 | Class R4 | 23.59% | N/A | |
STATE STREET BK & TR IRA CAROLYN J MCCORD 1303 RAGAN DR PLEASANT HILL MO 64080-1006 | Class A | 40.67% | N/A |
Fund | Shareholder Name and Address | Share Class | Percentage of Class | Percentage of Fund (if greater than 25%) |
AP – Growth Fund | AMERICAN ENTERPRISE INVESTMENT SVC 707 2ND AVE S MINNEAPOLIS MN 55402-2405 | Class A | 100.00% | 100.00% |
Pacific/Asia Fund | AMERICAN ENTERPRISE INVESTMENT SVC 707 2ND AVE S MINNEAPOLIS MN 55402-2405 | Class A | 44.72% | N/A |
Class C | 6.73% |
Statement of Additional Information – December 1, 2015 | 195 |
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Fund | Shareholder Name and Address | Share Class | Percentage of Class | Percentage of Fund (if greater than 25%) |
CHARLES SCHWAB & CO INC SPECIAL CUSTODY ACCT FBO CUSTOMERS ATTENTION MUTUAL FUND 101 MONTGOMERY ST SAN FRANCISCO CA 94104-4151 | Class C | 6.07% | N/A | |
COLUMBIA MGMT INVESTMENT ADVSR LLC ATTN KATRINA MACBAIN 50807 AMERIPRISE FINANCIAL CTR MINNEAPOLIS MN 55474-0508 | Class R4 | 15.01% | 74.30% (a) | |
Class W | 100.00% | |||
FIRST CLEARING LLC SPECIAL CUSTODY ACCT FOR THE EXCLUSIVE BENEFIT OF CUSTOMER 2801 MARKET ST SAINT LOUIS MO 63103-2523 | Class C | 5.49% | N/A | |
JPMCB NA AS CUST FOR THE SC529 PLAN COLUMBIA MODERATE 529 PORTFOLIO 14201 N DALLAS PARKWAY FL 13 DALLAS TX 75254-2916 | Class Z | 6.78% | N/A | |
JPMCB NA AS CUST FOR THE SC529 PLAN COLUMBIA MODERATE GROWTH 529 PORTFOLIO 14201 N DALLAS PARKWAY FL 13 DALLAS TX 75254-2916 | Class Z | 9.09% | N/A | |
JPMCB NA CUST FOR COLUMBIA CAPITAL ALLOCATION AGGRESSIVE PORTFOLIO 14201 N DALLAS PKWY FL 13 DALLAS TX 75254-2916 | Class I | 17.33% | N/A | |
JPMCB NA CUST FOR COLUMBIA CAPITAL ALLOCATION MODERATE AGGRESSIVE PORTFOLIO 14201 N DALLAS PKWY FL 13 DALLAS TX 75254-2916 | Class I | 47.42% | N/A | |
JPMCB NA CUST FOR COLUMBIA CAPITAL ALLOCATION MODERATE PORTFOLIO 14201 N DALLAS PKWY FL 13 DALLAS TX 75254-2916 | Class I | 26.15% | N/A | |
JPMCB NA CUST FOR COLUMBIA LIFEGOAL GROWTH PORTFOLIO 14201 N DALLAS PKWY FL 13 DALLAS TX 75254-2916 | Class I | 6.19% | N/A | |
JPMCB NA CUST FOR SC529 PLAN COLUMBIA AGGRESSIVE GROWTH 529 PORTFOLIO 14201N DALLAS PKWY FL 13 DALLAS TX 75254 | Class Z | 9.11% | N/A | |
JPMCB NA CUST FOR SC529 PLAN COLUMBIA GROWTH 529 PORTFOLIO 14201 N DALLAS PKWY FL 13 DALLAS TX 75254-2916 | Class Z | 10.05% | N/A | |
MERRILL LYNCH PIERCE FENNER & SMITH FOR THE SOLE BENEFIT OF IT CUSTOMER 4800 DEER LAKE DR E JACKSONVILLE FL 32246-6484 | Class Z | 43.80% | N/A | |
MORGAN STANLEY SMITH BARNEY HARBORSIDE FINANCIAL CENTER PLAZA 2, 3RD FLOOR JERSEY CITY NJ 07311 | Class C | 42.86% | N/A |
Statement of Additional Information – December 1, 2015 | 196 |
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Fund | Shareholder Name and Address | Share Class | Percentage of Class | Percentage of Fund (if greater than 25%) |
NATIONAL FINANCIAL SERVICES LLC FEBO CUSTOMERS MUTUAL FUNDS 200 LIBERTY STREET 1WFC NEW YORK NY 10281-1003 | Class R4 | 78.84% | N/A | |
NORTHERN TRUST AS TRUSTEE FBO GRAND TRUNK WESTERN RR CO PO BOX 92956 CHICAGO IL 60675-2956 | Class Z | 7.72% | N/A | |
PERSHING LLC 1 PERSHING PLZ JERSEY CITY NJ 07399-0002 | Class A | 13.82% | N/A | |
Class C | 7.58% | |||
Class R4 | 6.15% | |||
Select Large Cap Growth Fund | AMERICAN ENTERPRISE INVESTMENT SVC 707 2ND AVE S MINNEAPOLIS MN 55402-2405 | Class A | 37.99% | N/A |
Class C | 6.56% | |||
Class W | 99.99% | |||
CAPINCO C/O US BANK NA PO BOX 1787 MILWAUKEE WI 53201-1787 | Class Y | 8.87% | N/A | |
CBNA AS CUSTODIAN FBO FRINGE BENEFITS DESIGNS RETIREMENT 6 RHOADS DR STE 7 UTICA NY 13502-6317 | Class R | 5.75% | N/A | |
CHARLES SCHWAB & CO INC SPECIAL CUSTODY A/C FBO CUSTOMERS ATTN MUTUAL FUND DEPT 101 MONTGOMERY ST SAN FRANCISCO CA 94104-4151 | Class R5 | 10.87% | N/A | |
COLUMBIA THERMOSTAT FUND C/O PAULA RYAN 227 W MONROE ST STE 3000 CHICAGO IL 60606-5018 | Class I | 9.51% | N/A | |
DCGT AS TTEE AND/OR CUST FBO PLIC VARIOUS RETIREMENT PLANS OMNIBUS ATTN NPIO TRADE DESK 711 HIGH ST DES MOINES IA 50392-0001 | Class R | 8.08% | N/A | |
EDWARD D JONES & CO FOR THE BENEFIT OF CUSTOMERS 12555 MANCHESTER RD SAINT LOUIS MO 63131-3729 | Class Z | 11.29% | N/A | |
FIIOC FBO KENNETH COLE PRODUCTION INC 401 (K) PROFIT SHARING PLAN 100 MAGELLAN WAY # KW1C COVINGTON KY 41015-1987 | Class R4 | 6.71% | N/A | |
FIRST CLEARING LLC SPECIAL CUSTODY ACCT FOR THE EXCLUSIVE BENEFIT OF CUSTOMER 2801 MARKET ST SAINT LOUIS MO 63103-2523 | Class C | 6.32% | N/A | |
Class Z | 5.39% | |||
GREAT-WEST TRUST COMPANY LLC TTEE F EMPLOYEE BENEFITS CLIENTS 401K 8515 E ORCHARD RD 2T2 GREENWOOD VILLAGE CO 80111-5002 | Class R | 9.77% | N/A | |
JPMCB NA CUST FOR COLUMBIA CAPITAL ALLOCATION AGGRESSIVE PORTFOLIO 14201 N DALLAS PKWY FL 13 DALLAS TX 75254-2916 | Class I | 13.39% | N/A |
Statement of Additional Information – December 1, 2015 | 197 |
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Fund | Shareholder Name and Address | Share Class | Percentage of Class | Percentage of Fund (if greater than 25%) |
JPMCB NA CUST FOR COLUMBIA CAPITAL ALLOCATION MODERATE AGGRESSIVE PORTFOLIO 14201 N DALLAS PKWY FL 13 DALLAS TX 75254-2916 | Class I | 36.20% | N/A | |
JPMCB NA CUST FOR COLUMBIA CAPITAL ALLOCATION MODERATE PORTFOLIO 14201 N DALLAS PKWY FL 13 DALLAS TX 75254-2916 | Class I | 18.30% | N/A | |
JPMCB NA CUST FOR COLUMBIA LIFEGOAL GROWTH PORTFOLIO 14201 N DALLAS PKWY FL 13 DALLAS TX 75254-2916 | Class I | 21.44% | N/A | |
KEYBANK NA FBO MEDCENTRAL PEN-COLUMBIA SELECT PO BOX 94871 CLEVELAND OH 44101-4871 | Class Y | 13.87% | N/A | |
MERRILL LYNCH PIERCE FENNER & SMITH FOR THE SOLE BENEFIT OF IT CUSTOMER 4800 DEER LAKE DR E JACKSONVILLE FL 32246-6484 | Class C | 23.41% | 28.90% | |
Class Z | 47.50% | |||
MG TRUST COMPANY TRUSTEE VIRGINIA HEALTH SERVICES INC 717 17TH ST STE 1300 DENVER CO 80202-3304 | Class R | 5.88% | N/A | |
MORGAN STANLEY SMITH BARNEY HARBORSIDE FINANCIAL CENTER PLAZA 2, 3RD FLOOR JERSEY CITY NJ 07311 | Class C | 18.98% | N/A | |
Class Z | 13.09% | |||
NATIONAL FINANCIAL SERVICES LLC FEBO CUSTOMERS MUTUAL FUNDS 200 LIBERTY STREET 1WFC NEW YORK NY 10281-1003 | Class A | 41.33% | N/A | |
Class C | 21.96% | |||
Class R4 | 61.84% | |||
Class R5 | 62.80% | |||
Class Y | 26.61% | |||
NATIONWIDE TRUST COMPANY/FSB C/O IPO PORTFOLIO ACCOUNTING PO BOX 182029 COLUMBUS OH 43218-2029 | Class R5 | 5.41% | N/A | |
PARK NATIONAL BANK ATTN: TRUST (REINV EB) 50 N THIRD STREET PO BOX 3500 NEWARK OH 43058-3500 | Class Y | 15.96% | N/A | |
Class R4 | 28.36% | |||
Class R5 | 14.11% | |||
RELIANCE TRUST CO CUST FBO MASSMUTUAL OMNIBUS PLL/SMF PO BOX 48529 ATLANTA GA 30362-1529 | Class R | 15.37% | N/A | |
UBS WM USA OMNI ACCOUNT M/F ATTN: DEPARTMENT MANAGER 1000 HARBOR BLVD WEEHAWKEN NJ 07086-6761 | Class C | 5.47% | N/A | |
Class Z | 5.24% | |||
VANGUARD FDUCIARY TRUST CO PO BOX 2600 VM 613 ATTN: OUTSIDE FUNDS VALLEY FORGE PA 19482-2600 | Class Y | 18.46% | N/A |
Statement of Additional Information – December 1, 2015 | 198 |
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Fund | Shareholder Name and Address | Share Class | Percentage of Class | Percentage of Fund (if greater than 25%) |
Bond Fund | AMERICAN ENTERPRISE INVESTMENT SVC 707 2ND AVE S MINNEAPOLIS MN 55402-2405 | Class A | 11.76% | N/A |
Class B | 18.74% | |||
Class C | 13.09% | |||
ASCENSUS TRUST COMPANY FBO ED FAGAN INC 401 K PLAN PO BOX 10758 FARGO ND 58106-0758 | Class R | 19.12% | N/A | |
ASCENSUS TRUST COMPANY FBO FINANCIAL NETWORK AUDIT LLC 401 K PO BOX 10758 FARGO ND 58106-0758 | Class R | 13.73% | N/A | |
ASCENSUS TRUST COMPANY FBO HOSPICE ADVANTAGE 401 K PLAN PO BOX 10758 FARGO ND 58106-0758 | Class R | 21.18% | N/A | |
ASCENSUS TRUST COMPANY FBO NTVB CUSTOM MEDIA 401(K) PLAN PO BOX 10758 FARGO ND 58106-0758 | Class R5 | 6.75% | N/A | |
ASCENSUS TRUST COMPANY FBO RHEUMATOLOGY CONSULTANTS WNY PC 40 PO BOX 10758 FARGO ND 58106-0758 | Class R | 14.33% | N/A | |
CHARLES SCHWAB & CO INC SPECIAL CUSTODY A/C FBO CUSTOMERS ATTN MUTUAL FUND DEPT 101 MONTGOMERY ST SAN FRANCISCO CA 94104-4151 | Class B | 5.01% | N/A | |
Class R5 | 87.94% | |||
COLUMBIA MGMT INVESTMENT ADVSR LLC ATTN KATRINA MACBAIN 50807 AMERIPRISE FINANCIAL CTR MINNEAPOLIS MN 55474-0508 | Class I | 100.00% | N/A (a) | |
Class W | 100.00% | |||
FIRST CLEARING LLC SPECIAL CUSTODY ACCT FOR THE EXCLUSIVE BENEFIT OF CUSTOMER 2801 MARKET ST SAINT LOUIS MO 63103-2523 | Class B | 23.00% | N/A | |
Class C | 6.65% | |||
JOYCE TILSON & RONNY TILSON JT WROS 2816 NW 52ND TER MARGATE FL 33063-1617 | Class B | 5.85% | N/A | |
MERRILL LYNCH, PIERCE, FENNER & SMITH INC FOR THE SOLE BENEFIT OF ITS CUSTOMERS ATTENTION SERVICE TEAM 4800 DEER LAKE DR E FL 3 JACKSONVILLE FL 32246-6484 | Class A | 28.67% | 77.32% | |
Class B | 35.17% | |||
Class C | 22.50% | |||
Class T | 22.32% | |||
Class Y | 99.96% | |||
Class Z | 83.86% | |||
MID ATLANTIC TRUST COMPANY FBO SLCE ARCHITECTS LLP 401(K) PROFIT S 1251 WATERFRONT PL STE 525 PITTSBURGH PA 15222-4228 | Class R | 17.27% | N/A | |
NATIONAL FINANCIAL SERVICES LLC FEBO CUSTOMERS MUTUAL FUNDS 200 LIBERTY STREET 1WFC NEW YORK NY 10281-1003 | Class A | 6.22% | N/A | |
PERSHING LLC 1 PERSHING PLZ JERSEY CITY NJ 07399-0002 | Class A | 5.25% | N/A |
Statement of Additional Information – December 1, 2015 | 199 |
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Fund | Shareholder Name and Address | Share Class | Percentage of Class | Percentage of Fund (if greater than 25%) |
TAYNIK & CO C/O INVESTORS BANK & TRUST CO 1200 CROWN COLONY DR CC10313 QUINCY MA 02169-0938 | Class R4 | 93.26% | N/A | |
Corporate Income Fund | AMERICAN ENTERPRISE INVESTMENT SVC 707 2ND AVE S MINNEAPOLIS MN 55402-2405 | Class A | 38.73% | N/A |
Class B | 17.24% | |||
Class C | 26.89% | |||
Class W | 99.99% | |||
BAND & CO C/O US BANK NA 1555 N RIVERCENTER DR STE 302 MILWAUKEE WI 53212-3958 | Class Z | 21.69% | N/A | |
CBNA AS CUSTODIAN FBO BRADLEY D KAUFMAN, DDS 401(K) PSP 6 RHOADS DR STE 7 UTICA NY 13502-6317 | Class R5 | 5.14% | N/A | |
CBNA AS CUSTODIAN FBO STORECRAFTERS, INC 401(K) PSP & TR 6 RHOADS DR STE 7 UTICA NY 13502-6317 | Class R5 | 13.19% | N/A | |
CHARLES SCHWAB & CO INC SPECIAL CUSTODY A/C FBO CUSTOMERS ATTN MUTUAL FUND DEPT 101 MONTGOMERY ST SAN FRANCISCO CA 94104-4151 | Class R5 | 35.23% | N/A | |
COLUMBIA MGMT INVESTMENT ADVSR LLC ATTN KATRINA MACBAIN 50807 AMERIPRISE FINANCIAL CTR MINNEAPOLIS MN 55474-0508 | N/A | N/A | 43.09% (a) | |
EDWARD D JONES & CO FOR THE BENEFIT OF CUSTOMERS 12555 MANCHESTER RD SAINT LOUIS MO 63131-3729 | Class A | 5.39% | N/A | |
Class B | 5.43% | |||
FIRST CLEARING LLC SPECIAL CUSTODY ACCT FOR THE EXCLUSIVE BENEFIT OF CUSTOMER 2801 MARKET ST SAINT LOUIS MO 63103-2523 | Class B | 31.97% | N/A | |
Class C | 6.99% | |||
JPMCB NA AS CUST FOR THE SC529 PLAN COLUMBIA MODERATE 529 PORTFOLIO 14201 N DALLAS PARKWAY FL 13 DALLAS TX 75254-2916 | Class Z | 5.58% | N/A | |
JPMCB NA CUST FOR COLUMBIA CAPITAL ALLOCATION CONSERVATIVE PORTFOLIO 14201 N DALLAS PKWY FL 13 DALLAS TX 75254-2916 | Class I | 11.02% | N/A | |
JPMCB NA CUST FOR COLUMBIA CAPITAL ALLOCATION MODERATE AGGRESSIVE PORTFOLIO 14201 N DALLAS PKWY FL 13 DALLAS TX 75254-2916 | Class I | 29.71% | N/A | |
JPMCB NA CUST FOR COLUMBIA CAPITAL ALLOCATION MODERATE CONSERVATIVE PORTFOLIO 14201 N DALLAS PKWY FL 13 DALLAS TX 75254-2916 | Class I | 22.20% | N/A | |
JPMCB NA CUST FOR COLUMBIA CAPITAL ALLOCATION MODERATE PORTFOLIO 14201 N DALLAS PKWY FL 13 DALLAS TX 75254-2916 | Class I | 21.92% | N/A |
Statement of Additional Information – December 1, 2015 | 200 |
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Fund | Shareholder Name and Address | Share Class | Percentage of Class | Percentage of Fund (if greater than 25%) |
JPMCB NA CUST FOR COLUMBIA INCOME BUILDER FUND 14201 N DALLAS PKWY FL 13 DALLAS TX 75254-2916 | Class I | 9.44% | N/A | |
LPL FINANCIAL FBO CUSTOMER ACCOUNTS 9785 TOWNE CENTRE DR SAN DIEGO CA 92121-1968 | Class C | 5.95% | N/A | |
MATRIX TRUST COMPANY AS TTEE FBO REGION 10 457B PLAN PO BOX 52129 PHOENIX AZ 85072-2129 | Class Y | 74.51% | N/A | |
MERRILL LYNCH PIERCE FENNER & SMITH FOR THE SOLE BENEFIT OF ITS CUSTOMERS ATTN FUND ADMINISTRATION 4800 DEER LAKE DR E FL 2 JACKSONVILLE FL 32246-6484 | Class B | 25.53% | N/A | |
MERRILL LYNCH PIERCE FENNER & SMITH FOR THE SOLE BENEFIT OF ITS CUSTOMERS ATTN FUND ADMINISTRATION 4800 DEER LAKE DR E FL 2 JACKSONVILLE FL 32246-6484 | Class A | 5.70% | N/A | |
MERRILL LYNCH PIERCE FENNER & SMITH FOR THE SOLE BENEFIT OF ITS CUSTOMERS ATTN FUND ADMINISTRATION 4800 DEER LAKE DR E FL 2 JACKSONVILLE FL 32246-6484 | Class C | 12.29% | N/A | |
MLPF&S FOR THE SOLE BENEFIT OF ITS CUSTOMERS ATTN FUND ADMINISTRATION SEC# 4800 DEER LAKE DR E FL 2 JACKSONVILLE FL 32246-6484 | Class Z | 38.23% | N/A | |
MORGAN STANLEY SMITH BARNEY HARBORSIDE FINANCIAL CENTER PLAZA 2, 3RD FLOOR JERSEY CITY NJ 07311 | Class C | 5.96% | N/A | |
NATIONAL FINANCIAL SERVICES LLC FEBO CUSTOMERS MUTUAL FUNDS 200 LIBERTY STREET 1WFC NEW YORK NY 10281-1003 | Class A | 5.89% | N/A | |
Class C | 8.44% | |||
Class R5 | 15.35% | |||
PERSHING LLC 1 PERSHING PLZ JERSEY CITY NJ 07399-0002 | Class C | 9.87% | N/A | |
Class R4 | 63.62% | |||
Class R5 | 18.26% | |||
TAYNIK & CO C/O INVESTORS BANK & TRUST CO 1200 CROWN COLONY DR CC10313 QUINCY MA 02169-0938 | Class R4 | 31.90% | N/A | |
U S BANK FBO CITY OF HUNTINGTON BEACH SERP 1555 N RIVERCENTER DR STE 302 MILWAUKEE WI 53212-3958 | Class Y | 20.13% | N/A | |
Intermediate Bond Fund | AMERICAN ENTERPRISE INVESTMENT SVC 707 2ND AVE S MINNEAPOLIS MN 55402-2405 | Class A | 47.41% | 31.65% |
Class B | 42.81% | |||
Class C | 21.28% | |||
Class W | 100.00% |
Statement of Additional Information – December 1, 2015 | 201 |
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Fund | Shareholder Name and Address | Share Class | Percentage of Class | Percentage of Fund (if greater than 25%) |
ASCENSUS TRUST CO FBO O NEILL MCFADDEN & WILLETT LLP PO BOX 10758 FARGO ND 58106-0758 | Class R | 6.33% | N/A | |
ASCENSUS TRUST CO FBO RKT SAVINGS & RETPLAN PO BOX 10758 FARGO ND 58106-0758 | Class R | 18.27% | N/A | |
CAPITAL BANK & TRUST COMPANY TTEE F SMITHGROUP RA 401K 8515 E ORCHARD RD # 2T2 GREENWOOD VLG CO 80111-5002 | Class R5 | 23.86% | N/A | |
CHARLES SCHWAB & CO INC SPECIAL CUSTODY A/C FBO CUSTOMERS ATTN MUTUAL FUND DEPT 101 MONTGOMERY ST SAN FRANCISCO CA 94104-4151 | Class R5 | 11.43% | N/A | |
Class Z | 11.56% | |||
COLUMBIA THERMOSTAT FUND C/O PAULA RYAN 227 W MONROE ST STE 3000 CHICAGO IL 60606-5018 | Class I | 45.59% | N/A | |
FIIOC FBO TEAM INC SALARY DEFERRAL PLAN AND TRUST 100 MAGELLAN WAY # KW1C COVINGTON KY 41015-1987 | Class R4 | 34.81% | N/A | |
JPMCB NA CUST FOR COLUMBIA CAPITAL ALLOCATION MODERATE PORTFOLIO 14201 N DALLAS PKWY FL 13 DALLAS TX 75254-2916 | Class I | 54.41% | N/A | |
LFC MANAGEMENT SERVICES INC FBO LIPMAN NQ DEF COMP PLAN ATTN TOBY PURSE 315 NEW MARKET RD E IMMOKALEE FL 34142-3509 | Class R | 5.58% | N/A | |
MATRIX TRUST COMPANY AS AGENT FBO OWENSBORO HEALTH NQ SUPPL PLAN PO BOX 52129 PHOENIX AZ 85072-2129 | Class Y | 13.71% | N/A | |
MATRIX TRUST COMPANY, FBO BSBP & A LLP 401(K) PLAN I PO BOX 52129 PHOENIX AZ 85072-2129 | Class Y | 11.28% | N/A | |
MERRILL LYNCH PIERCE FENNER & SMITH FOR THE SOLE BENEFIT OF ITS CUSTOMERS ATTN FUND ADMINISTRATION 4800 DEER LAKE DR E FL 2 JACKSONVILLE FL 32246-6484 | Class B | 10.00% | N/A | |
Class C | 11.91% | |||
MERRILL LYNCH, PIERCE, FENNER & SMITH INC FOR THE SOLE BENEFIT OF ITS CUSTOMERS ATTENTION SERVICE TEAM 4800 DEER LAKE DRIVE EAST 3RD FLOOR JACKSONVILLE FL 32246-6484 | Class R | 11.54% | N/A | |
Class R4 | 6.77% | |||
MLPF&S FOR THE SOLE BENEFIT OF ITS CUSTOMERS ATTN FUND ADMINISTRATION SEC# 4800 DEER LAKE DR E FL 2 JACKSONVILLE FL 32246-6484 | Class Z | 52.80% | N/A |
Statement of Additional Information – December 1, 2015 | 202 |
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Fund | Shareholder Name and Address | Share Class | Percentage of Class | Percentage of Fund (if greater than 25%) |
MORGAN STANLEY SMITH BARNEY HARBORSIDE FINANCIAL CENTER PLAZA 2, 3RD FLOOR JERSEY CITY NJ 07311 | Class C | 22.28% | N/A | |
NATIONAL FINANCIAL SERVICES LLC FEBO CUSTOMERS MUTUAL FUNDS 200 LIBERTY STREET 1WFC NEW YORK NY 10281-1003 | Class R | 10.03% | N/A | |
Class Y | 7.22% | |||
PERSHING LLC 1 PERSHING PLZ JERSEY CITY NJ 07399-0002 | Class C | 7.15% | N/A | |
Class R4 | 44.57% | |||
Class R5 | 42.07% | |||
PIMS/PRUDENTIAL RETIREMENT AS NOMINEE FOR THE TTEE/CUST PL 111 OWENSBORO HEALTH 403 B P O BOX 20007 1201 PLEASANT VALLEY RD OWENSBORO KY 42303-9811 | Class Y | 9.29% | N/A | |
PIMS/PRUDENTIAL RETIREMENT AS NOMINEE FOR THE TTEE/CUST PL 111 OWENSBORO HEALTH 403 B MATCH P O BOX 20007 1201 PLEASANT VALLEY RD OWENSBORO KY 42303-9811 | Class Y | 37.29% | N/A | |
STATE STREET CORPORATION FBO ADP ACCESS 1 LINCOLN ST BOSTON MA 02111-2901 | Class R4 | 8.41% | N/A | |
TONYS LIFETIME EXTERIORS INC TTEE F TONYS LIFETIME EXTERIORS INC 401K P 8515 E ORCHARD RD # 2T2 GREENWOOD VLG CO 80111-5002 | Class R | 6.71% | N/A | |
WELLS FARGO BANK FBO 1525 W W T HARRIS BLVD CHARLOTTE NC 28262-8522 | Class K | 99.55% | N/A | |
WELLS FARGO BANK FBO DWYER INSTRUMENTS INC 401K PSP 1525 WEST WT HARRIS BLVD CHARLOTTE NC 28288-1076 | Class Y | 9.70% | N/A | |
WELLS FARGO BANK FBO MUELLER INDUSTRIES INC 401K PLAN 1525 WEST WT HARRIS BLVD CHARLOTTE NC 28288-1076 | Class R5 | 9.23% | N/A | |
Multi-Asset Income Fund | COLUMBIA MGMT INVESTMENT ADVSR LLC ATTN KATRINA MACBAIN 50807 AMERIPRISE FINANCIAL CTR MINNEAPOLIS MN 55474-0508 | Class A | 27.84% | 99.58% (a) |
Class C | 19.86% | |||
Class R4 | 100.00% | |||
Class R5 | 100.00% | |||
Class W | 100.00% | |||
JPMCB NA CUST FOR COLUMBIA CAPITAL ALLOCATION MODERATE AGGRESSIVE PORTFOLIO 14201 N DALLAS PKWY FL 13 DALLAS TX 75254-2916 | Class I | 39.06% | N/A | |
JPMCB NA CUST FOR COLUMBIA CAPITAL ALLOCATION MODERATE CONSERVATIVE PORTFOLIO 14201 N DALLAS PKWY FL 13 DALLAS TX 75254-2916 | Class I | 15.03% | N/A | |
JPMCB NA CUST FOR COLUMBIA CAPITAL ALLOCATION AGGRESSIVE PORTFOLIO 14201 DALLAS PKWY FL 13 DALLAS TX 75254-2916 | Class I | 11.38% | N/A |
Statement of Additional Information – December 1, 2015 | 203 |
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Fund | Shareholder Name and Address | Share Class | Percentage of Class | Percentage of Fund (if greater than 25%) |
JPMCB NA CUST FOR COLUMBIA CAPITAL ALLOCATION CONSERVATIVE PORTFOLIO 14201 DALLAS PKWY FL 13 DALLAS TX 75254-2916 | Class I | 6.68% | N/A | |
JPMCB NA CUST FOR COLUMBIA CAPITAL ALLOCATION MODERATE PORTFOLIO 14201 DALLAS PKWY FL 13 DALLAS TX 75254-2916 | Class I | 27.84% | N/A | |
LPL FINANCIAL 9785 TOWNE CENTRE DR SAN DIEGO CA 92121-1968 | Class A | 72.16% | N/A | |
Class C | 80.14% | |||
STATE STREET BK & TR IRA JEFFREY L KNIGHT 15 SYLVAN LN WESTON MA 02493-1027 | Class Z | 96.85% | N/A | |
Small Cap Value Fund I | AMERICAN ENTERPRISE INVESTMENT SVC 707 2ND AVE S MINNEAPOLIS MN 55402-2405 | Class A | 8.98% | N/A |
Class B | 21.56% | |||
ASCENSUS TRUST COMPANY FBO FARMINGTON ACUTE CARE EMERGENCY SPE PO BOX 10758 FARGO ND 58106-0758 | Class R5 | 8.91% | N/A | |
CAPITAL BANK & TRUST CO TTEE F PARK AVE MOTOR CORP 401K SVGS PL 8515 E ORCHARD RD # 2T2 GREENWOOD VLG CO 80111-5002 | Class R | 50.76% | N/A | |
CAPITAL BANK & TRUST COMPANY TTEE F ALLIANCE OF PROS & CONSULTANTS INC 8515 E ORCHARD RD # 2T2 GREENWOOD VLG CO 80111-5002 | Class R | 6.37% | N/A | |
CAPITAL BANK & TRUST COMPANY TTEE F FORT BELVOIR FEDERAL CREDIT UNION 4 8515 E ORCHARD RD # 2T2 GREENWOOD VLG CO 80111-5002 | Class R | 18.14% | N/A | |
CAPITAL BANK & TRUST COMPANY TTEE F TRABON COMPANIES 401K 8515 E ORCHARD RD # 2T2 GREENWOOD VLG CO 80111-5002 | Class R | 16.53% | N/A | |
EDWARD D JONES & CO FOR THE BENEFIT OF CUSTOMERS 12555 MANCHESTER RD SAINT LOUIS MO 63131-3729 | Class Z | 35.50% | N/A | |
FIIOC FBO AIRTRAN AIRWAYS INC 401(K) PLAN 100 MAGELLAN WAY (KW1C) COVINGTON KY 41015-1987 | Class R4 | 28.03% | N/A | |
FIIOC FBO AIRTRAN AIRWAYS TECHNICAL OPERATIONS RETIREMENT SAVINGS 100 MAGELLAN WAY (KW1C) COVINGTON KY 41015-1987 | Class R4 | 5.46% | N/A | |
FIIOC FBO BOWDITCH & DEWEY PROFIT SHARING PLAN 100 MAGELLAN WAY (KW1C) COVINGTON KY 41015-1987 | Class R5 | 5.10% | N/A | |
FIRST CLEARING LLC SPECIAL CUSTODY ACCT FOR THE EXCLUSIVE BENEFIT OF CUSTOMER 2801 MARKET ST SAINT LOUIS MO 63103-2523 | Class B | 17.21% | N/A | |
Class C | 10.43% |
Statement of Additional Information – December 1, 2015 | 204 |
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Fund | Shareholder Name and Address | Share Class | Percentage of Class | Percentage of Fund (if greater than 25%) |
GREAT-WEST TRUST COMPANY LLC TTEE F EMPLOYEE BENEFITS CLIENTS 401K 8515 E ORCHARD RD # 2T2 GREENWOOD VLG CO 80111-5002 | Class Y | 5.57% | N/A | |
JPMCB NA CUST FOR COLUMBIA INCOME BUILDER FUND 14201 N DALLAS PKWY FL 13 DALLAS TX 75254-2916 | Class I | 100.00% | N/A | |
LINCOLN RETIREMENT SERVICES COMPANY FBO CARROLL COUNTY PS 403B PLAN PO BOX 7876 FORT WAYNE IN 46801-7876 | Class Y | 5.48% | N/A | |
LINCOLN RETIREMENT SERVICES COMPANY FBO CITY OF MANASSAS SUPP RET PLAN PO BOX 7876 FORT WAYNE IN 46801-7876 | Class Y | 10.18% | N/A | |
LINCOLN RETIREMENT SERVICES COMPANY FBO HARFORD COUNTY 457B PO BOX 7876 FORT WAYNE IN 46801-7876 | Class Y | 5.26% | N/A | |
LINCOLN RETIREMENT SERVICES COMPANY FBO: HARTFORD COUNTY 403B PO BOX 7876 FORT WAYNE IN 46801-7876 | Class Y | 40.00% | N/A | |
LPL FINANCIAL FBO CUSTOMER ACCOUNTS 9785 TOWNE CENTRE DR SAN DIEGO CA 92121-1968 | Class C | 8.27% | N/A | |
MERRILL LYNCH PIERCE FENNER & SMITH FOR THE SOLE BENEFIT OF ITS CUSTOMERS ATTN FUND ADMINISTRATION 4800 DEER LAKE DR E FL 2 JACKSONVILLE FL 32246-6484 | Class A | 7.33% | N/A | |
MERRILL LYNCH PIERCE FENNER & SMITH FOR THE SOLE BENEFIT OF ITS CUSTOMERS ATTN FUND ADMINISTRATION 4800 DEER LAKE DR E FL 2 JACKSONVILLE FL 32246-6484 | Class B | 7.57% | N/A | |
MERRILL LYNCH PIERCE FENNER & SMITH FOR THE SOLE BENEFIT OF ITS CUSTOMERS ATTN FUND ADMINISTRATION 4800 DEER LAKE DR E FL 2 JACKSONVILLE FL 32246-6484 | Class C | 15.78% | N/A | |
MERRILL LYNCH, PIERCE, FENNER & SMITH INC FOR THE SOLE BENEFIT OF ITS CUSTOMERS ATTENTION SERVICE TEAM 4800 DEER LAKE DRIVE EAST 3RD FLOOR JACKSONVILLE FL 32246-6484 | Class Y | 12.73% | N/A | |
Class Z | 22.65% | |||
MORGAN STANLEY SMITH BARNEY HARBORSIDE FINANCIAL CENTER PLAZA 2, 3RD FLOOR JERSEY CITY NJ 07311 | Class C | 14.34% | N/A | |
NATIONAL FINANCIAL SERVICES LLC FEBO CUSTOMERS MUTUAL FUNDS 200 LIBERTY STREET 1WFC NEW YORK NY 10281-1003 | Class A | 6.85% | N/A | |
Class B | 13.86% | |||
Class C | 6.40% | |||
Class R5 | 21.96% | |||
Class Y | 9.13% | |||
Class Z | 5.18% |
Statement of Additional Information – December 1, 2015 | 205 |
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Fund | Shareholder Name and Address | Share Class | Percentage of Class | Percentage of Fund (if greater than 25%) |
NEW YORK LIFE TRUST COMPANY 690 CANTON ST STE 100 WESTWOOD MA 02090-2344 | Class Z | 5.78% | N/A | |
PERSHING LLC 1 PERSHING PLZ JERSEY CITY NJ 07399-0002 | Class A | 5.33% | N/A | |
Class B | 14.23% | |||
Class C | 8.50% | |||
Class R4 | 37.60% | |||
PIMS/PRUDENTIAL RETIREMENT AS NOMINEE FOR THE TTEE/CUST PL PHRMA 950 F ST NW WASHINGTON DC 20004-1438 | Class R4 | 20.35% | N/A | |
RAYMOND JAMES FBO OMNIBUS FOR MUTUAL FUNDS HOUSE ACCT FIRM ATTN: COURTNEY WALLER 880 CARILLON PKWY ST PETERSBURG FL 33716-1100 | Class C | 7.52% | N/A | |
TIAA-CREF TRUST CO CUST/TTEE FBO RETIREMENT PLANS FOR WHICH TIAA ACTS AS RECORDKEEPER ATTN TRUST OPERATIONS 211 N BROADWAY STE 1000 SAINT LOUIS MO 63102-2748 | Class R5 | 56.49% | N/A | |
Class Z | 9.82% | |||
VERROSE LLC 1138 FOX CHASE RD BLOOMFIELD MI 48301-4158 | Class C | 5.50% | N/A | |
U.S. Treasury Index Fund | AMERICAN ENTERPRISE INVESTMENT SVC 707 2ND AVE S MINNEAPOLIS MN 55402-2405 | Class A | 14.07% | N/A |
Class C | 32.51% | |||
Class W | 99.99% | |||
CHARLES SCHWAB & CO INC SPECIAL CUSTODY A/C FBO CUSTOMERS ATTN MUTUAL FUND DEPT 101 MONTGOMERY ST SAN FRANCISCO CA 94104-4151 | Class A | 6.32% | N/A | |
Class R5 | 14.56% | |||
Class Z | 7.55% | |||
FIIOC FBO QVINE CORPORATION 401(K) PLAN 100 MAGELLAN WAY #KW1C COVINGTON KY 41015-1987 | Class R5 | 7.07% | N/A | |
FIRST CLEARING LLC SPECIAL CUSTODY ACCT FOR THE EXCLUSIVE BENEFIT OF CUSTOMER 2801 MARKET ST SAINT LOUIS MO 63103-2523 | Class B | 35.81% | N/A | |
Class C | 19.76% | |||
JPMCB NA AS CUSTODIAN FOR THE SC529 PLAN COLUMBIA MODERATE 529 PORTFOLIO 14201 DALLAS PKWY FL 13 DALLAS TX 75254-2916 | Class Z | 10.93% | N/A | |
JPMCB NA AS CUSTODIAN FOR THE SC529 PLAN COLUMBIA MODERATE GROWTH 529 PORTFOLIO 14201 DALLAS PKWY FL 13 DALLAS TX 75254-2916 | Class Z | 10.79% | N/A | |
JPMCB NA AS CUSTODIAN FOR THE SC529 PLAN COLUMBIA MODERATELY CONSERVATIVE 529 PORTFOLIO 14201 DALLAS PKWY FL 13 DALLAS TX 75254-2916 | Class Z | 6.06% | N/A |
Statement of Additional Information – December 1, 2015 | 206 |
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Fund | Shareholder Name and Address | Share Class | Percentage of Class | Percentage of Fund (if greater than 25%) |
JPMCB NA CUST FOR COLUMBIA CAPITAL ALLOCATION CONSERVATIVE PORTFOLIO 14201 N DALLAS PKWY FL 13 DALLAS TX 75254-2916 | Class I | 30.55% | N/A | |
JPMCB NA CUST FOR COLUMBIA CAPITAL ALLOCATION MODERATE AGGRESSIVE PORTFOLIO 14201 N DALLAS PKWY FL 13 DALLAS TX 75254-2916 | Class I | 30.25% | N/A | |
JPMCB NA CUST FOR COLUMBIA CAPITAL ALLOCATION MODERATE CONSERVATIVE PORTFOLIO 14201 N DALLAS PKWY FL 13 DALLAS TX 75254-2916 | Class I | 16.14% | N/A | |
JPMCB NA CUST FOR COLUMBIA INCOME BUILDER FUND 14201 N DALLAS PKWY FL 13 DALLAS TX 75254-2916 | Class I | 10.11% | N/A | |
JPMCB NA CUST FOR COLUMBIA VP-ASSET ALLOCATION FUND 14201 N DALLAS PKWAY FL 13 DALLAS TX 75254-2916 | Class I | 12.94% | N/A | |
LPL FINANCIAL FBO CUSTOMER ACCOUNTS 9785 TOWNE CENTRE DR SAN DIEGO CA 92121-1968 | Class C | 5.06% | N/A | |
MERRILL LYNCH, PIERCE, FENNER & SMITH INC FOR THE SOLE BENEFIT OF ITS CUSTOMERS ATTENTION SERVICE TEAM 4800 DEER LAKE DRIVE EAST 3RD FLOOR JACKSONVILLE FL 32246-6484 | Class A | 25.28% | N/A | |
Class B | 43.97% | |||
Class R5 | 58.51% | |||
Class Z | 25.46% | |||
NATIONAL FINANCIAL SERVICES LLC FEBO CUSTOMERS MUTUAL FUNDS 200 LIBERTY STREET 1WFC NEW YORK NY 10281-1003 | Class R5 | 18.74% | N/A | |
RAYMOND JAMES FBO OMNIBUS FOR MUTUAL FUNDS HOUSE ACCT FIRM ATTN: COURTNEY WALLER 880 CARILLON PKWY ST PETERSBURG FL 33716-1100 | Class C | 13.91% | N/A | |
UBS WM USA OMNI ACCOUNT M/F ATTN: DEPARTMENT MANAGER 1000 HARBOR BLVD WEEHAWKEN NJ 07086-6761 | Class C | 6.56% | N/A |
Fund | Shareholder Name and Address | Share Class | Percentage of Class | Percentage of Fund (if greater than 25%) |
Adaptive Alternatives Fund | AMERICAN ENTERPRISE INVESTMENT SVC 707 2ND AVE S MINNEAPOLIS MN 55402-2405 | Class A | 94.44% | 68.85% |
Class C | 97.07% | |||
Class W | 99.99% |
Statement of Additional Information – December 1, 2015 | 207 |
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Fund | Shareholder Name and Address | Share Class | Percentage of Class | Percentage of Fund (if greater than 25%) |
COLUMBIA MGMT INVESTMENT ADVSR LLC ATTN KATRINA MACBAIN 50807 AMERIPRISE FINANCIAL CTR MINNEAPOLIS MN 55474-0508 | Class R | 100.00% | 30.51% (a) | |
Class R4 | 100.00% | |||
Class R5 | 100.00% | |||
Class Y | 100.00% | |||
Class Z | 99.18% | |||
JPMCB NA CUST FOR COLUMBIA CAPITAL ALLOCATION AGGRESSIVE PORTFOLIO 14201 N DALLAS PKWY FL 13 DALLAS TX 75254-2916 | Class I | 19.99% | N/A | |
JPMCB NA CUST FOR COLUMBIA CAPITAL ALLOCATION CONSERVATIVE PORTFOLIO 14201 N DALLAS PKWY FL 13 DALLAS TX 75254-2916 | Class I | 19.99% | N/A | |
JPMCB NA CUST FOR COLUMBIA CAPITAL ALLOCATION MODERATE AGGRESSIVE PORTFOLIO 14201 N DALLAS PKWY FL 13 DALLAS TX 75254-2916 | Class I | 19.99% | N/A | |
JPMCB NA CUST FOR COLUMBIA CAPITAL ALLOCATION MODERATE CONSERVATIVE PORTFOLIO 14201 N DALLAS PKWY FL 13 DALLAS TX 75254-2916 | Class I | 19.99% | N/A | |
JPMCB NA CUST FOR COLUMBIA CAPITAL ALLOCATION MODERATE PORTFOLIO 14201 N DALLAS PKWY FL 13 DALLAS TX 75254-2916 | Class I | 19.99% | N/A | |
Adaptive Risk Allocation Fund | AMERICAN ENTERPRISE INVESTMENT SVC 707 2ND AVE S MINNEAPOLIS MN 55402-2405 | Class A | 83.20% | 81.86% |
Class C | 74.16% | |||
Class W | 100.00% | |||
CHARLES SCHWAB & CO INC SPECIAL CUSTODY A/C FBO CUSTOMERS ATTN MUTUAL FUND DEPT 101 MONTGOMERY ST SAN FRANCISCO CA 94104-4151 | Class R5 | 10.08% | N/A | |
Class Z | 7.63% | |||
COLUMBIA MGMT INVESTMENT ADVSR LLC ATTN KATRINA MACBAIN 50807 AMERIPRISE FINANCIAL CTR MINNEAPOLIS MN 55474-0508 | Class K | 100.00% | N/A (a) | |
Class Y | 100.00% | |||
DONNA C KNIGHT & JEFFREY L KNIGHT TTEES DONNA C KNIGHT LIVING TRUST 15 SYLVAN LN WESTON MA 02493-1027 | Class Z | 9.68% | N/A | |
LPL FINANCIAL 9785 TOWNE CENTRE DR SAN DIEGO CA 92121-1968 | Class Z | 30.46% | N/A | |
NATIONAL FINANCIAL SERVICES LLC FEBO CUSTOMERS MUTUAL FUNDS 200 LIBERTY STREET 1WFC NEW YORK NY 10281-1003 | Class R | 98.03% | N/A | |
Class R4 | 88.55% | |||
Class R5 | 21.93% | |||
PERSHING LLC 1 PERSHING PLZ JERSEY CITY NJ 07399-0002 | Class R4 | 11.07% | N/A | |
Class R5 | 43.56% | |||
RAYMOND JAMES FBO OMNIBUS FOR MUTUAL FUNDS ATTN: COURTNEY WALLER 880 CARILLON PKWY ST PETERSBURG FL 33716-1100 | Class Z | 15.56% | N/A |
Statement of Additional Information – December 1, 2015 | 208 |
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Fund | Shareholder Name and Address | Share Class | Percentage of Class | Percentage of Fund (if greater than 25%) |
TD AMERITRADE INC FOR THE EXCLUSIVE BENEFIT OF OUR CLIENTS PO BOX 2226 OMAHA NE 68103-2226 | Class R5 | 23.76% | N/A | |
UBS WM USA OMNI ACCOUNT M/F ATTN: DEPARTMENT MANAGER 1000 HARBOR BLVD WEEHAWKEN NJ 07086-6761 | Class Z | 18.53% | N/A | |
Diversified Absolute Return Fund | COLUMBIA MGMT INVESTMENT ADVSR LLC ATTN KATRINA MACBAIN 50807 AMERIPRISE FINANCIAL CTR MINNEAPOLIS MN 55474-0508 | Class A | 6.76% | 97.56% (a) |
Class C | 100.00% | |||
Class R4 | 100.00% | |||
Class R5 | 100.00% | |||
Class W | 100.00% | |||
DONNA C KNIGHT & JEFFREY L KNIGHT TTEES DONNA C KNIGHT LIVING TRUST 15 SYLVAN LN WESTON MA 02493-1027 | Class Z | 98.68% | N/A | |
JPMCB NA CUST FOR COLUMBIA CAPITAL ALLOCATION AGGRESSIVE PORTFOLIO 14201 N DALLAS PKWY FL 13 DALLAS TX 75254-2916 | Class I | 9.80% | N/A | |
JPMCB NA CUST FOR COLUMBIA CAPITAL ALLOCATION CONSERVATIVE PORTFOLIO 14201 N DALLAS PKWY FL 13 DALLAS TX 75254-2916 | Class I | 6.50% | N/A | |
JPMCB NA CUST FOR COLUMBIA CAPITAL ALLOCATION MODERATE AGGRESSIVE PORTFOLIO 14201 N DALLAS PKWY FL 13 DALLAS TX 75254-2916 | Class I | 38.00% | N/A | |
JPMCB NA CUST FOR COLUMBIA CAPITAL ALLOCATION MODERATE CONSERVATIVE PORTFOLIO 14201 N DALLAS PKWY FL 13 DALLAS TX 75254-2916 | Class I | 13.77% | N/A | |
JPMCB NA CUST FOR COLUMBIA CAPITAL ALLOCATION MODERATE PORTFOLIO 14201 N DALLAS PKWY FL 13 DALLAS TX 75254-2916 | Class I | 30.32% | N/A | |
NATIONAL FINANCIAL SERVICES LLC FEBO CUSTOMERS MUTUAL FUNDS 200 LIBERTY STREET 1WFC NEW YORK NY 10281-1003 | Class A | 67.90% | N/A | |
PERSHING LLC 1 PERSHING PLZ JERSEY CITY NJ 07399-0002 | Class A | 24.53% | N/A | |
Dividend Income Fund | AMERICAN ENTERPRISE INVESTMENT SVC 707 2ND AVE S MINNEAPOLIS MN 55402-2405 | Class A | 35.79% | N/A |
Class B | 29.84% | |||
Class C | 14.72% | |||
Class W | 98.22% | |||
CHARLES SCHWAB & CO INC SPECIAL CUSTODY A/C FBO CUSTOMERS ATTN MUTUAL FUND DEPT 101 MONTGOMERY ST SAN FRANCISCO CA 94104-4151 | Class R5 | 22.80% | N/A | |
Class Z | 8.13% | |||
Class T | 9.29% |
Statement of Additional Information – December 1, 2015 | 209 |
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Fund | Shareholder Name and Address | Share Class | Percentage of Class | Percentage of Fund (if greater than 25%) |
COLUMBIA THERMOSTAT FUND C/O PAULA RYAN 227 W MONROE ST STE 3000 CHICAGO IL 60606-5018 | Class I | 27.60% | N/A | |
DCGT AS TTEE AND /OR CUST FBO PLIC VARIOUS RETIREMENT PLANS OMNIBUS ATTN NPIO TRADE DESK 711 HIGH ST DES MOINES IA 50392-0001 | Class R | 6.17% | N/A | |
EQUITABLE LIFE FOR SA NO65 ON BEHALF OF VARIOUS 401K EXPEDITER PLANS 1290 AVENUE OF THE AMERICAS NEW YORK NY 10104-0101 | Class R | 49.16% | N/A | |
FIRST CLEARING LLC SPECIAL CUSTODY ACCT FOR THE EXCLUSIVE BENEFIT OF CUSTOMER 2801 MARKET ST SAINT LOUIS MO 63103-2523 | Class B | 19.14% | N/A | |
Class C | 8.21% | |||
GREAT WEST TRUST CO. AS TRUSTEE FBO THE BNA 401(K) PLAN 11500 OUTLOOK ST OVERLAND PARK KS 66211-1804 | Class Y | 10.54% | N/A | |
JPMCB NA CUST FOR COLUMBIA GLOBAL STRATEGIC EQUITY PORTFOLIO 14201 N DALLAS PKWY FL 13 DALLAS TX 75254-2916 | Class I | 20.13% | N/A | |
JPMCB NA CUST FOR COLUMBIA INCOME BUILDER FUND 14201 N DALLAS PKWY FL 13 DALLAS TX 75254-2916 | Class I | 52.27% | N/A | |
LPL FINANCIAL FBO CUSTOMER ACCOUNTS 9785 TOWNE CENTRE DR SAN DIEGO CA 92121-1968 | Class C | 5.58% | N/A | |
MERRILL LYNCH, PIERCE, FENNER & SMITH INC FOR THE SOLE BENEFIT OF ITS CUSTOMERS ATTENTION SERVICE TEAM 4800 DEER LAKE DRIVE EAST 3RD FLOOR JACKSONVILLE FL 32246-6484 | Class R | 10.66% | 25.86% | |
Class R4 | 14.48% | |||
Class T | 17.54% | |||
Class Z | 47.65% | |||
MERRILL LYNCH PIERCE FENNER & SMITH FOR THE SOLE BENEFIT OF ITS CUSTOMERS ATTN FUND ADMINISTRATOR 4800 DEER LAKE DR E FL 2 JACKSONVILLE FL 32246-6484 | Class A | 7.12% | N/A | |
Class B | 18.37% | |||
Class C | 18.72% | |||
MORGAN STANLEY SMITH BARNEY HARBORSIDE FINANCIAL CENTER PLAZA 2, 3RD FLOOR JERSEY CITY NJ 07311 | Class B | 5.26% | N/A | |
Class C | 9.19% | |||
NATIONAL FINANCIAL SERVICES LLC FEBO CUSTOMERS MUTUAL FUNDS 200 LIBERTY STREET 1WFC NEW YORK NY 10281-1003 | Class A | 14.73% | N/A | |
Class C | 9.51% | |||
Class R4 | 28.94% | |||
Class R5 | 19.87% | |||
Class Y | 42.98% | |||
Class Z | 16.45% |
Statement of Additional Information – December 1, 2015 | 210 |
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Fund | Shareholder Name and Address | Share Class | Percentage of Class | Percentage of Fund (if greater than 25%) |
NATIONWIDE TRUST COMPANY FSB FBO PARTICIPATING RETIREMENT PLANS C/O IPO PORTFOLIO ACCOUNTING PO BOX 182029 COLUMBUS OH 43218-2029 | Class Y | 5.54% | N/A | |
PERSHING LLC 1 PERSHING PLAZA JERSEY CITY NJ 07399-0002 | Class A | 5.10% | N/A | |
Class B | 8.22% | |||
Class C | 7.20% | |||
Class R4 | 21.47% | |||
PIMS/PRUDENTIAL RETIREMENT AS NOMINEE FOR THE TTEE/CUST MIAMI CHILDREN S HEALTH SYSTEM 3100 SW 62ND AVE MIAMI FL 33155-3009 | Class R5 | 5.01% | N/A | |
PIMS/PRUDENTIAL RETIREMENT AS NOMINEE FOR THE TTEE/CUST ROBERT WOOD JOHNSON HOSPITAL 181 SOMERSET ST STE 1 NEW BRUNSWICK NJ 08901-2061 | Class R5 | 7.57% | N/A | |
RAYMOND JAMES FBO OMNIBUS FOR MUTUAL FUNDS ATTN: COURTNEY WALLER 880 CARILLON PKWY ST PETERSBURG FL 33716-1100 | Class C | 9.77% | N/A | |
RELIANCE TRUST CO CUST ADP ACCESS LARGE MARKET 401K PLAN 1100 ABERNATHY RD ATLANTA GA 30328-5620 | Class R5 | 15.35% | N/A | |
RELIANCE TRUST COMPANY FBO RETIREMENT PLANS SERVICED BY METLIF C/O FASCORE LLC 8515 E ORCHARD RD # 2T2 GREENWOOD VLG CO 80111-5002 | Class R4 | 8.73% | N/A | |
TD AMERITRADE INC FOR THE EXCLUSIVE BENEFIT OF OUR CLIENTS PO BOX 2226 OMAHA NE 68103-2226 | Class R5 | 6.54% | N/A | |
TIAA-CREF TRUST CO CUST/TTEE FBO RETIREMENT PLANS FOR WHICH TIAA ACTS AS RECORDKEEPER ATTN TRUST OPERATIONS 211 N BROADWAY STE 1000 SAINT LOUIS MO 63102-2748 | Class Y | 20.39% | N/A | |
UBS WM USA OMNI ACCOUNT M/F ATTN: DEPARTMENT MANAGER 1000 HARBOR BLVD WEEHAWKEN NJ 07086-6761 | Class C | 6.30% | N/A | |
HY Municipal Fund | AMERICAN ENTERPRISE INVESTMENT SVC 707 2ND AVE S MINNEAPOLIS MN 55402-2405 | Class A | 41.72% | N/A |
Class C | 18.68% | |||
CHARLES SCHWAB & CO INC SPECIAL CUSTODY A/C FBO CUSTOMERS ATTN MUTUAL FUND DEPT 101 MONTGOMERY ST SAN FRANCISCO CA 94104-4151 | Class R5 | 21.16% | N/A | |
FIRST CLEARING LLC SPECIAL CUSTODY ACCT FOR THE EXCLUSIVE BENEFIT OF CUSTOMER 2801 MARKET ST SAINT LOUIS MO 63103-2523 | Class A | 6.18% | N/A | |
Class B | 25.12% | |||
Class C | 14.49% |
Statement of Additional Information – December 1, 2015 | 211 |
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Fund | Shareholder Name and Address | Share Class | Percentage of Class | Percentage of Fund (if greater than 25%) |
LPL FINANCIAL FBO CUSTOMER ACCOUNTS 9785 TOWNE CENTRE DR SAN DIEGO CA 92121-1968 | Class C | 5.98% | N/A | |
MERRILL LYNCH PIERCE FENNER & SMITH FOR THE SOLE BENEFIT OF ITS CUSTOMERS ATTN FUND ADMINISTRATION 4800 DEER LAKE DR E FL 2 JACKSONVILLE FL 32246-6484 | Class A | 7.48% | N/A | |
MERRILL LYNCH PIERCE FENNER & SMITH FOR THE SOLE BENEFIT OF ITS CUSTOMERS ATTN FUND ADMINISTRATION 4800 DEER LAKE DR E FL 2 JACKSONVILLE FL 32246-6484 | Class B | 62.85% | N/A | |
MERRILL LYNCH PIERCE FENNER & SMITH FOR THE SOLE BENEFIT OF ITS CUSTOMERS ATTN FUND ADMINISTRATION 4800 DEER LAKE DR E FL 2 JACKSONVILLE FL 32246-6484 | Class C | 15.84% | N/A | |
MLPF&S FOR THE SOLE BENEFIT OF ITS CUSTOMERS ATTN FUND ADMINISTRATION SEC# 4800 DEER LAKE DR E FL 2 JACKSONVILLE FL 32246-6484 | Class Z | 74.74% | 59.27% | |
MORGAN STANLEY SMITH BARNEY HARBORSIDE FINANCIAL CENTER PLAZA 2, 3RD FLOOR JERSEY CITY NJ 07311 | Class A | 9.30% | N/A | |
Class C | 18.06% | |||
NATIONAL FINANCIAL SERVICES LLC FEBO CUSTOMERS MUTUAL FUNDS 200 LIBERTY STREET 1WFC NEW YORK NY 10281-1003 | Class A | 7.60% | N/A | |
Class R4 | 45.65% | |||
Class R5 | 39.02% | |||
PERSHING LLC 1 PERSHING PLZ JERSEY CITY NJ 07399-0002 | Class R4 | 53.87% | N/A | |
Class R5 | 34.77% | |||
UBS WM USA OMNI ACCOUNT M/F ATTN: DEPARTMENT MANAGER 1000 HARBOR BLVD WEEHAWKEN NJ 07086-6761 | Class C | 9.10% | N/A |
Fund | Shareholder Name and Address | Share Class | Percentage of Class | Percentage of Fund (if greater than 25%) |
AMT-Free OR Intermediate Muni Bond Fund | AMERICAN ENTERPRISE INVESTMENT SVC 707 2ND AVE S MINNEAPOLIS MN 55402-2405 | Class A | 35.17% | N/A |
Class C | 14.11% | |||
CHARLES SCHWAB & CO INC SPECIAL CUSTODY A/C FBO CUSTOMERS ATTN MUTUAL FUND DEPT 101 MONTGOMERY ST SAN FRANCISCO CA 94104-4151 | Class R5 | 65.55% | N/A | |
Class Z | 15.01% | |||
CHARLES SCHWAB & CO INC CUST ATTN MUTUAL FUNDS DEPT 101 MONTGOMERY ST SAN FRANCISCO CA 94104-4151 | Class A | 7.64% | N/A |
Statement of Additional Information – December 1, 2015 | 212 |
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Fund | Shareholder Name and Address | Share Class | Percentage of Class | Percentage of Fund (if greater than 25%) |
COLUMBIA MGMT INVESTMENT ADVSR LLC ATTN KATRINA MACBAIN 50807 AMERIPRISE FINANCIAL CTR MINNEAPOLIS MN 55474-0508 | Class B | 94.75% | N/A (a) | |
Class R4 | 6.80% | |||
EDWARD D JONES & CO FOR THE BENEFIT OF CUSTOMERS 12555 MANCHESTER RD SAINT LOUIS MO 63131-3729 | Class A | 23.11% | N/A | |
Class B | 5.25% | |||
Class C | 11.28% | |||
FIRST CLEARING LLC SPECIAL CUSTODY ACCT FOR THE EXCLUSIVE BENEFIT OF CUSTOMER 2801 MARKET ST SAINT LOUIS MO 63103-2523 | Class A | 11.79% | N/A | |
Class C | 32.04% | |||
MERRILL LYNCH PIERCE FENNER & SMITH FOR THE SOLE BENEFIT OF ITS CUSTOMERS ATTN FUND ADMINISTRATOR 4800 DEER LAKE DR E FL 2 JACKSONVILLE FL 32246-6484 | Class C | 8.46% | N/A | |
Class Z | 10.32% | |||
MORGAN STANLEY SMITH BARNEY HARBORSIDE FINANCIAL CENTER PLAZA 2, 3RD FLOOR JERSEY CITY NJ 07311 | Class C | 21.15% | N/A | |
NATIONAL FINANCIAL SERVICES LLC FEBO CUSTOMERS MUTUAL FUNDS 200 LIBERTY STREET 1WFC NEW YORK NY 10281-1003 | Class R4 | 68.74% | N/A | |
Class R5 | 12.23% | |||
PERSHING LLC 1 PERSHING PLZ JERSEY CITY NJ 07399-0002 | Class R4 | 24.46% | N/A | |
TD AMERITRADE INC FOR THE EXCLUSIVE BENEFIT OF OUR CLIENTS PO BOX 2226 OMAHA NE 68103-2226 | Class R5 | 21.70% | N/A | |
UBS WM USA OMNI ACCOUNT M/F ATTN: DEPARTMENT MANAGER 1000 HARBOR BLVD WEEHAWKEN NJ 07086-6761 | Class A | 5.34% | N/A | |
Global ILB Plus Fund | COLUMBIA MGMT INVESTMENT ADVSR LLC ATTN KATRINA MACBAIN 50807 AMERIPRISE FINANCIAL CTR MINNEAPOLIS MN 55474-0508 | Class W | 100.00% | 99.76% (a) |
Class Z | 100.00% | |||
JPMCB NA CUST FOR COLUMBIA CAPITAL ALLOCATION CONSERVATIVE PORTFOLIO 14201 DALLAS PKWY FL 13 DALLAS TX 75254-2916 | Class I | 30.48% | N/A | |
JPMCB NA CUST FOR COLUMBIA CAPITAL ALLOCATION MODERATE CONSERVATIVE PORTFOLIO 14201 DALLAS PKWY FL 13 DALLAS TX 75254-2916 | Class I | 34.59% | N/A | |
JPMCB NA CUST FOR COLUMBIA DIVERSIFIED REAL RETURN FUND 14201 DALLAS PKWY FL 13 DALLAS TX 75254-2916 | Class I | 34.69% | N/A |
Statement of Additional Information – December 1, 2015 | 213 |
Table of Contents
Fund | Shareholder Name and Address | Share Class | Percentage of Class | Percentage of Fund (if greater than 25%) |
Large Cap Growth Fund | AMERICAN ENTERPRISE INVESTMENT SVC 707 2ND AVE S MINNEAPOLIS MN 55402-2405 | Class A | 22.50% | N/A |
Class B | 15.77% | |||
Class C | 15.26% | |||
Class W | 100.00% | |||
ANDREW NEUMANN ADVANTAGE PLAN TRUST TRUST END DATE 08/15/2027 C/O CHRISTOPHER M NEUMANN 101 RAMBLE WOOD DR SKANEATELES NY 13152-2275 | Class F | 16.34% | N/A | |
ASCENSUS TRUST COMPANY FBO CHOPTANK TRANSPORT INC & AFFILIATES PO BOX 10758 FARGO ND 58106-0758 | Class Y | 9.34% | N/A | |
ASCENSUS TRUST COMPANY FBO NATIONAL KWIKMETAL SERVICE L P 401 PO BOX 10758 FARGO ND 58106-0758 | Class R5 | 10.77% | N/A | |
BRIDGET NEUMANN ADVANTAGE PLAN TRUST END DATE 11/17/2026 C/0 CHRISTOPHER M NEUMANN 101 RAMBLE WOOD DR SKANEATELES NY 13152-2275 | Class F | 16.34% | N/A | |
CHARLES SCHWAB & CO INC CUST A/C FOR THE EXCLUSIVE BENEFIT ATTENTION MUTUAL FUNDS 101 MONTGOMERY ST SAN FRANCISCO CA 94104-4151 | Class K | 64.39% | N/A | |
Class R5 | 40.54% | |||
Class Z | 6.64% | |||
CLAIRE NEUMANN ADVANTAGE PLAN TRUST TRUST END DATE 09/01/2030 ROBERT S NEUMANN 101 RAMBLE WOOD DR SKANEATELES NY 13152-2275 | Class F | 16.22% | N/A | |
DCGT AS TTEE AND/OR CUST FBO PLIC VARIOUS RETIREMENT PLANS OMNIBUS ATTN NPIO TRADE DESK 711 HIGH ST DES MOINES IA 50392-0001 | Class Y | 25.87% | N/A | |
FIIOC FBO HYUNDAI 401(K) PLAN 100 MAGELLAN WAY #KW1C COVINGTON KY 41015-1987 | Class R5 | 20.58% | N/A | |
FIIOC FBO RAYMOND HANDLING CONCEPTS CORPORATION 401K PLAN 100 MAGELLAN WAY #KW1C COVINGTON KY 41015-1987 | Class R5 | 12.69% | N/A | |
FIRST CLEARING LLC SPECIAL CUSTODY ACCT FOR THE EXCLUSIVE BENEFIT OF CUSTOMER 2801 MARKET ST SAINT LOUIS MO 63103-2523 | Class C | 7.55% | N/A | |
Class K | 32.93% | |||
JAMES DUNCAN TTEE JAMES DUNCAN & ASSOCIATES INC 401K PROFIT SHARING PLAN 17409 RUSH PEA CIR AUSTIN TX 78738-4045 | Class Y | 5.02% | N/A |
Statement of Additional Information – December 1, 2015 | 214 |
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Fund | Shareholder Name and Address | Share Class | Percentage of Class | Percentage of Fund (if greater than 25%) |
JPMCB NA CUST FOR COLUMBIA CAPITAL ALLOCATION AGGRESSIVE PORTFOLIO 14201 N DALLAS PKWY FL 13 DALLAS TX 75254-2916 | Class I | 12.23% | N/A | |
JPMCB NA CUST FOR COLUMBIA CAPITAL ALLOCATION MODERATE AGGRESSIVE PORTFOLIO 14201 N DALLAS PKWY FL 13 DALLAS TX 75254-2916 | Class I | 41.58% | N/A | |
JPMCB NA CUST FOR COLUMBIA CAPITAL ALLOCATION MODERATE CONSERVATIVE PORTFOLIO 14201 N DALLAS PKWY FL 13 DALLAS TX 75254-2916 | Class I | 9.25% | N/A | |
JPMCB NA CUST FOR COLUMBIA CAPITAL ALLOCATION MODERATE PORTFOLIO 14201 N DALLAS PKWY FL 13 DALLAS TX 75254-2916 | Class I | 13.90% | N/A | |
JPMCB NA CUST FOR COLUMBIA GLOBAL STRATEGIC EQUITY PORTFOLIO 14201 N DALLAS PKWY FL 13 DALLAS TX 75254-2916 | Class I | 23.03% | N/A | |
LILY ELIZABETH KRAMER ADVANTAGE PLAN TRUST TRUST END DATE 01/18/2028 C/O LEIGH A NEUMANN 5203 SILVER FOX DR JAMESVILLE NY 13078-8742 | Class F | 16.25% | N/A | |
MATTHEW PATRICK NEUMANN ADVANTAGE PLAN TRUST TRUST END DATE 03/01/2024 C/O CHRISTOPHER M NEUMANN 101 RAMBLE WOOD DR SKANEATELES NY 13152-2275 | Class F | 16.22% | N/A | |
MERRILL LYNCH PIERCE FENNER & SMITH INC FOR THE SOLE BENEFIT OF ITS CUSTOMERS 4800 DEER LAKE DR E JACKSONVILLE FL 32246-6484 | Class T | 24.75% | N/A | |
MERRILL LYNCH PIERCE FENNER & SMITH FOR THE SOLE BENEFIT OF ITS CUSTOMERS ATTN FUND ADMINISTRATION 4800 DEER LAKE DR E FL 3 JACKSONVILLE FL 32246-6484 | Class C | 19.33% | N/A | |
Class R | 79.44% | |||
Class R4 | 11.69% | |||
Class Z | 31.18% | |||
MIRANDA E KRAMER ADVANTAGE PLAN TRUST TRUST END DATE 06/09/2025 C/O LEIGH A NEUMANN 5203 SILVER FOX DR JAMESVILLE NY 13078-8742 | Class F | 16.28% | N/A | |
MORGAN STANLEY SMITH BARNEY HARBORSIDE FINANCIAL CENTER PLAZA 2, 3RD FLOOR JERSEY CITY NJ 07311 | Class C | 6.10% | N/A | |
NATIONAL FINANCIAL SERVICES LLC FEBO CUSTOMERS MUTUAL FUNDS 200 LIBERTY STREET 1WFC NEW YORK NY 10281-1003 | Class R4 | 58.93% | N/A | |
Class Z | 5.84% |
Statement of Additional Information – December 1, 2015 | 215 |
Table of Contents
Fund | Shareholder Name and Address | Share Class | Percentage of Class | Percentage of Fund (if greater than 25%) |
PERSHING LLC 1 PERSHING PLZ JERSEY CITY NJ 07399-0002 | Class R4 | 21.47% | N/A | |
STATE STREET BANK AND TRUST AS TRUSTEE AND/OR CUSTODIAN FBO ADP ACCESS PRODUCT 1 LINCOLN ST BOSTON MA 02111-2901 | Class Y | 55.56% | N/A | |
UBS WM USA OMNI ACCOUNT M/F ATTN: DEPARTMENT MANAGER 1000 HARBOR BLVD WEEHAWKEN NJ 07086-6761 | Class C | 5.85% | N/A | |
Tax-Exempt Fund | AMERICAN ENTERPRISE INVESTMENT SVC 707 2ND AVE S MINNEAPOLIS MN 55402-2405 | Class A | 6.57% | N/A |
Class B | 14.55% | |||
Class C | 20.64% | |||
CATHAY LIFE INSURANCE CO LTD 296 JEN-AI ROAD SEC. 4 TAIPEI, 106 TAIWAN R.O.C | Class Z | 25.14% | N/A | |
EDWARD D JONES & CO FOR THE BENEFIT OF CUSTOMERS 12555 MANCHESTER RD SAINT LOUIS MO 63131-3729 | Class A | 10.34% | N/A | |
Class B | 6.06% | |||
FIRST CLEARING LLC SPECIAL CUSTODY ACCT FOR THE EXCLUSIVE BENEFIT OF CUSTOMER 2801 MARKET ST SAINT LOUIS MO 63103-2523 | Class A | 5.04% | N/A | |
Class B | 15.21% | |||
Class C | 10.36% | |||
MERRILL LYNCH, PIERCE, FENNER & SMITH INC FOR THE SOLE BENEFIT OF ITS CUSTOMERS ATTENTION SERVICE TEAM 4800 DEER LAKE DRIVE EAST 3RD FLOOR JACKSONVILLE FL 32246-6484 | Class B | 18.31% | N/A | |
Class C | 14.22% | |||
Class Z | 41.15% | |||
MORGAN STANLEY SMITH BARNEY HARBORSIDE FINANCIAL CENTER PLAZA 2, 3RD FLOOR JERSEY CITY NJ 07311 | Class C | 7.36% | N/A | |
NATIONAL FINANCIAL SERVICES LLC FEBO CUSTOMERS MUTUAL FUNDS 200 LIBERTY STREET 1WFC NEW YORK NY 10281-1003 | Class R4 | 25.94% | N/A | |
PERSHING LLC 1 PERSHING PLZ JERSEY CITY NJ 07399-0002 | Class R4 | 73.45% | N/A | |
Class R5 | 25.71% | |||
RAYMOND JAMES FBO OMNIBUS FOR MUTUAL FUNDS HOUSE ACCT FIRM ATTN: COURTNEY WALLER 880 CARILLON PKWY ST PETERSBURG FL 33716-1100 | Class C | 6.10% | N/A | |
TD AMERITRADE INC FOR THE EXCLUSIVE BENEFIT OF OUR CLIENTS PO BOX 2226 OMAHA NE 68103-2226 | Class R5 | 69.45% | N/A | |
U.S. Social Bond Fund | COLUMBIA MGMT INVESTMENT ADVSR LLC ATTN KATRINA MACBAIN 50807 AMERIPRISE FINANCIAL CTR MINNEAPOLIS MN 55474-0508 | Class A | 80.10% | 99.74% (a) |
Class C | 100.00% | |||
Class R4 | 100.00% | |||
Class R5 | 100.00% | |||
Class Z | 99.75% |
Statement of Additional Information – December 1, 2015 | 216 |
Table of Contents
Fund | Shareholder Name and Address | Share Class | Percentage of Class | Percentage of Fund (if greater than 25%) |
FIRST CLEARING LLC SPECIAL CUSTODY ACCT FOR THE EXCLUSIVE BENEFIT OF CUSTOMER 2801 MARKET ST SAINT LOUIS MO 63103-2523 | Class A | 19.90% | N/A | |
Ultra Short Term Bond Fund | MERRILL LYNCH, PIERCE, FENNER & SMITH INC FOR THE SOLE BENEFIT OF ITS CUSTOMERS ATTENTION SERVICE TEAM 4800 DEER LAKE DRIVE EAST 3RD FLOOR JACKSONVILLE FL 32246-6484 | Shares | 90.21% | 90.21% |
Fund | Shareholder Name and Address | Share Class | Percentage of Class | Percentage of Fund (if greater than 25%) |
AP – Alternative Strategies Fund | AMERICAN ENTERPRISE INVESTMENT SVC 707 2ND AVE S MINNEAPOLIS MN 55402-2405 | Class A | 100.00% | 100.00% |
AP – Core Plus Bond Fund | AMERICAN ENTERPRISE INVESTMENT SVC 707 2ND AVE S MINNEAPOLIS MN 55402-2405 | Class A | 100.00% | 100.00% |
AP – Small Cap Equity Fund | AMERICAN ENTERPRISE INVESTMENT SVC 707 2ND AVE S MINNEAPOLIS MN 55402-2405 | Class A | 100.00% | 100.00% |
Balanced Fund | AMERICAN ENTERPRISE INVESTMENT SVC 707 2ND AVE MINNEAPOLIS MN 55402-2405 | Class C | 34.76% | N/A |
Class A | 22.82% | |||
Class B | 23.57% | |||
CHARLES SCHWAB & CO INC SPECIAL CUSTODY ACCT FOR EXCLUSIVE OF CUSTOMERS ATTN:MUTUAL FUNDS 101 MONTGOMERY ST SAN FRANCISCO CA 94104-4151 | Class Z | 5.16% | N/A | |
DCGT AS TTEE AND/OR CUST FBO PLIC VARIOUS RETIREMENT PLANS OMNIBUS ATTN NPIO TRADE DESK 711 HIGH ST DES MOINES IA 50392-0001 | Class R | 17.35% | N/A | |
FIIOC FBO CAMBRIDGE ISOTOPE LABORATORIES INC 401(K) PLAN & TRUST 100 MAGELLAN WAY COVINGTON KY 41015-1987 | Class R4 | 8.89% | N/A | |
FIIOC FBO HELIX ENERGY SOLUTIONS GROUP INC EMPLOYEES 401(K) SAVINGS PLAN 100 MAGELLAN WAY # KW1C COVINGTON KY 41015-1987 | Class R4 | 6.78% | N/A | |
FIRST CLEARING LLC SPECIAL CUSTODY ACCT FOR THE EXCLUSIVE BENEFIT OF CUSTOMER 2801 MARKET ST SAINT LOUIS MO 63103-2523 | Class C | 11.07% | N/A | |
Class Z | 7.84% | |||
ING FUND OPERATIONS TTEE FBO ING NATIONAL TRUST 1 ORANGE WAY WINDSOR CT 06095-4773 | Class Y | 7.18% | N/A |
Statement of Additional Information – December 1, 2015 | 217 |
Table of Contents
Fund | Shareholder Name and Address | Share Class | Percentage of Class | Percentage of Fund (if greater than 25%) |
LPL FINANCIAL 9785 TOWNE CENTRE DR SAN DIEGO CA 92121-1968 | Class Z | 6.69% | N/A | |
MERRILL LYNCH PIERCE FENNER & SMITH INC FOR THE SOLE BENEFIT OF IT S CUSTOM 4800 DEER LAKE DR E JACKSONVILLE FL 32246-6484 | Class Z | 16.48% | N/A | |
Class B | 7.35% | |||
Class C | 10.37% | |||
Class R | 26.34% | |||
Class R4 | 16.75% | |||
MG TRUST COMPANY TRUSTEE VIRGINIA HEALTH SERVICES INC 717 17TH ST STE 1300 DENVER CO 80202-3304 | Class R | 5.28% | N/A | |
MID ATLANTIC TRUST COMPANY CUST FBO HODGE COMPANY 1251 WATERFRONT PL STE 525 PITTSBURGH PA 15222-4228 | Class Y | 7.02% | N/A | |
MID-ATLANTIC TRUST COMPANY CUST FBO HEARTLAND FINANCIAL RETIREMENT PLAN 1251 WATERFRONT PL STE 525 PITTSBURGH PA 15222-4228 | Class Y | 22.65% | N/A | |
MORGAN STANLEY SMITH BARNEY HARBORSIDE FINANCIAL CENTER PLAZA 2, 3RD FLOOR JERSEY CITY NJ 07311 | Class C | 8.81% | N/A | |
NATIONAL FINANCIAL SERVICES LLC FEBO CUSTOMERS MUTUAL FUNDS 200 LIBERTY STREET 1WFC NEW YORK NY 10281-1003 | Class R5 | 15.89% | N/A | |
Class Y | 10.89% | |||
Class Z | 7.21% | |||
Class R4 | 19.13% | |||
PERSHING LLC 1 PERSHING PLZ JERSEY CITY NJ 07399-0002 | Class C | 6.46% | N/A | |
Class R4 | 30.97% | |||
Class R5 | 11.38% | |||
RAYMOND JAMES FBO OMNIBUS FOR MUTUAL FUNDS ATTN: COURTNEY WALLER 880 CARILLON PKWY ST PETERSBURG FL 33716-1100 | Class C | 5.26% | N/A | |
TAYNIK & CO C/O INVESTORS BANK & TRUST CO 200 CLARENDON ST FL 17 BOSTON MA 02116-5097 | Class R4 | 10.83% | N/A | |
Class R5 | 52.15% | |||
WELLS FARGO BANK FBO 1525 W W T HARRIS BLVD CHARLOTTE NC 28262-8522 | Class K | 94.65% | N/A | |
Contrarian Core Fund | AMERICAN ENTERPRISE INVESTMENT SVC 707 2ND AVE S MINNEAPOLIS MN 55402-2405 | Class A | 45.66% | N/A |
Class B | 20.27% | |||
Class C | 15.65% | |||
Class W | 100.00% | |||
ASCENSUS TRUST COMPANY FBO PATHOLOGY CONSULTANTS OF SOUTH BROW PO BOX 10758 FARGO ND 58106-0758 | Class Y | 5.71% | N/A | |
ASCENSUS TRUST COMPANY FBO ZAIS GROUP, LLC PROFIT SHARING PLAN PO BOX 10758 FARGO ND 58106-0758 | Class Y | 7.42% | N/A |
Statement of Additional Information – December 1, 2015 | 218 |
Table of Contents
Fund | Shareholder Name and Address | Share Class | Percentage of Class | Percentage of Fund (if greater than 25%) |
CHARLES SCHWAB & CO INC SPECIAL CUSTODY A/C FBO CUSTOMERS ATTN MUTUAL FUND DEPT 101 MONTGOMERY ST SAN FRANCISCO CA 94104-4151 | Class R4 | 13.00% | N/A | |
Class R5 | 19.71% | |||
Class K | 97.32% | |||
FIIOC FBO MAZAK CORPORATION 100 MAGELLAN WAY (KW1C) COVINGTON KY 41015-1987 | Class R4 | 8.03% | N/A | |
FIRST CLEARING LLC SPECIAL CUSTODY ACCT FOR THE EXCLUSIVE BENEFIT OF CUSTOMER 2801 MARKET ST SAINT LOUIS MO 63103-2523 | Class C | 6.42% | N/A | |
GREAT-WEST TRUST COMPANY LLC TTEE F EMPLOYEE BENEFITS CLIENTS 401K 8515 E ORCHARD RD # 2T2 GREENWOOD VLG CO 80111-5002 | Class Y | 60.74% | N/A | |
JPMCB NA CUST FOR COLUMBIA CAPITAL ALLOCATION AGGRESSIVE PORTFOLIO 14201 N DALLAS PKWY FL 13 DALLAS TX 75254-2916 | Class I | 13.22% | N/A | |
JPMCB NA CUST FOR COLUMBIA CAPITAL ALLOCATION MODERATE AGGRESSIVE PORTFOLIO 14201 N DALLAS PKWY FL 13 DALLAS TX 75254-2916 | Class I | 35.86% | N/A | |
JPMCB NA CUST FOR COLUMBIA CAPITAL ALLOCATION MODERATE CONSERVATIVE PORTFOLIO 14201 N DALLAS PKWY FL 13 DALLAS TX 75254-2916 | Class I | 5.68% | N/A | |
JPMCB NA CUST FOR COLUMBIA CAPITAL ALLOCATION MODERATE PORTFOLIO 14201 N DALLAS PKWY FL 13 DALLAS TX 75254-2916 | Class I | 23.65% | N/A | |
JPMCB NA CUST FOR COLUMBIA LIFEGOAL GROWTH PORTFOLIO 14201 N DALLAS PKWY FL 13 DALLAS TX 75254-2916 | Class I | 13.46% | N/A | |
LPL FINANCIAL FBO CUSTOMER ACCOUNTS 9785 TOWNE CENTRE DR SAN DIEGO CA 92121-1968 | Class C | 5.88% | N/A | |
MERRILL LYNCH PIERCE FENNER & SMITH INC FOR THE SOLE BENEFIT OF ITS CUSTOMERS 4800 DEER LAKE DR E JACKSONVILLE FL 32246-6484 | Class T | 29.73% | N/A | |
Class Z | 35.19% | |||
Class C | 19.42% | |||
Class R | 35.85% | |||
MORGAN STANLEY SMITH BARNEY HARBORSIDE FINANCIAL CENTER PLAZA 2, 3RD FLOOR JERSEY CITY NJ 07311 | Class C | 10.40% | N/A | |
NATIONAL FINANCIAL SERVICES LLC FEBO CUSTOMERS MUTUAL FUNDS 200 LIBERTY STREET 1WFC NEW YORK NY 10281-1003 | Class A | 5.04% | N/A | |
Class C | 10.16% | |||
Class R5 | 57.95% | |||
Class Z | 7.70% | |||
Class R4 | 20.82% |
Statement of Additional Information – December 1, 2015 | 219 |
Table of Contents
Fund | Shareholder Name and Address | Share Class | Percentage of Class | Percentage of Fund (if greater than 25%) |
PERSHING LLC 1 PERSHING PLZ JERSEY CITY NJ 07399-0002 | Class C | 5.99% | N/A | |
Class R4 | 6.01% | |||
Class R5 | 9.54% | |||
PIMS/PRUDENTIAL RETIREMENT AS NOMINEE FOR THE TTEE NEXCOM 401(K) PLAN 3280 VIRGINIA BEACH BLVD VIRGINIA BCH VA 23452-5724 | Class R4 | 20.36% | N/A | |
RAYMOND JAMES FBO OMNIBUS FOR MUTUAL FUNDS ATTN: COURTNEY WALLER 880 CARILLON PKWY ST PETERSBURG FL 33716-1100 | Class C | 7.39% | N/A | |
SAMMONS FINANCIAL NETWORK LLC 4546 CORPORATE DR STE 100 WEST DES MOINES IA 50266-5911 | Class R | 13.54% | N/A | |
SAXON & CO VI OMNIBUS ACCOUNT VICA P O BOX 7780-1888 PHILADELPHIA PA 19182-0001 | Class Y | 25.91% | N/A | |
STANDARD INSURANCE COMPANY 1100 SW 6TH AVE ATTN: SEP ACCT PORTLAND OR 97204-1093 | Class R4 | 5.45% | N/A | |
STIFEL NICOLAUS & CO INC EXCLUSIVE BENEFIT OF CUSTOMERS 501 N BROADWAY SAINT LOUIS MO 63102-2188 | Class Z | 5.47% | N/A | |
TODD REACH TRUSTEE FBO KAB LABS INC 401K RETIREMENT PLAN C/O FASCORE LLC 8515 E ORCHARD RD # 2T2 GREENWOOD VLG CO 80111-5002 | Class R | 6.46% | N/A | |
Emerging Markets Fund | AMERICAN ENTERPRISE INVESTMENT SVC 707 2ND AVE S MINNEAPOLIS MN 55402-2405 | Class A | 21.81% | N/A |
Class B | 30.58% | |||
Class C | 15.71% | |||
Class W | 97.63% | |||
ASCENSUS TRUST COMPANY FBO CONCUR TECHNOLOGIES, INC. 401(K) PL PO BOX 10758 FARGO ND 58106-0758 | Class Y | 81.53% | N/A | |
ASCENSUS TRUST COMPANY FBO MARSHALL WACE NORTH AMERICA LP 401(k) PO BOX 10758 FARGO ND 58106-0758 | Class R5 | 9.55% | N/A | |
CHARLES SCHWAB & CO INC CUST A/C FOR THE EXCLUSIVE BENEFIT ATTENTION MUTUAL FUNDS 101 MONTGOMERY ST SAN FRANCISCO CA 94104-4151 | Class K | 50.62% | N/A | |
Class R5 | 9.13% | |||
FIIOC FBO RGM ADVISORS, LLC 401K P/S PLAN 100 MAGELLAN WAY (KW1C) COVINGTON KY 41015-1987 | Class Y | 14.35% | N/A | |
FIRST CLEARING LLC SPECIAL CUSTODY ACCT FOR THE EXCLUSIVE BENEFIT OF CUSTOMER 2801 MARKET ST SAINT LOUIS MO 63103-2523 | Class K | 47.85% | N/A |
Statement of Additional Information – December 1, 2015 | 220 |
Table of Contents
Fund | Shareholder Name and Address | Share Class | Percentage of Class | Percentage of Fund (if greater than 25%) |
JPMCB NA CUST FOR COLUMBIA CAPITAL ALLOCATION AGGRESSIVE PORTFOLIO 14201 N DALLAS PKWY FL 13 DALLAS TX 75254-2916 | Class I | 19.61% | N/A | |
JPMCB NA CUST FOR COLUMBIA CAPITAL ALLOCATION MODERATE AGGRESSIVE PORTFOLIO 14201 N DALLAS PKWY FL 13 DALLAS TX 75254-2916 | Class I | 40.64% | N/A | |
JPMCB NA CUST FOR COLUMBIA CAPITAL ALLOCATION MODERATE PORTFOLIO 14201 N DALLAS PKWY FL 13 DALLAS TX 75254-2916 | Class I | 11.67% | N/A | |
JPMCB NA CUST FOR COLUMBIA LIFEGOAL GROWTH PORTFOLIO 14201 N DALLAS PKWY FL 13 DALLAS TX 75254-2916 | Class I | 27.12% | N/A | |
MERRILL LYNCH PIERCE FENNER & SMITH FOR THE SOLE BENEFIT OF IT CUSTOMER 4800 DEER LAKE DR E JACKSONVILLE FL 32246-6484 | Class Z | 91.38% | 62.90% | |
Class C | 16.52% | |||
Class R5 | 6.09% | |||
Class R | 58.74% | |||
NATIONAL FINANCIAL SERVICES LLC FEBO CUSTOMERS MUTUAL FUNDS 200 LIBERTY STREET 1WFC NEW YORK NY 10281-1003 | Class R4 | 7.58% | N/A | |
Class R5 | 41.76% | |||
PERSHING LLC 1 PERSHING PLZ JERSEY CITY NJ 07399-0002 | Class R4 | 91.20% | N/A | |
RAYMOND JAMES FBO OMNIBUS FOR MUTUAL FUNDS ATTN: COURTNEY WALLER 880 CARILLON PKWY ST PETERSBURG FL 33716-1100 | Class C | 6.83% | N/A | |
TD AMERITRADE TRUST COMPANY ATTN: HOUSE P.O. BOX 17748 DENVER CO 80217-0748 | Class R5 | 12.70% | N/A | |
TD AMERITRADE TRUST COMPANY PO BOX 17748 DENVER CO 80217-0748 | Class R | 9.26% | N/A | |
Global Dividend Opportunity Fund | AMERICAN ENTERPRISE INVESTMENT SVC 707 2ND AVE S MINNEAPOLIS MN 55402-2405 | Class A | 10.26% | N/A |
Class B | 12.66% | |||
Class C | 10.00% | |||
CHARLES SCHWAB & CO INC SPECIAL CUSTODY A/C FOR BENFT CUST ATTN MUTUAL FUND 101 MONTGOMERY STREET SAN FRANCISCO CA 94104-4151 | Class A | 5.88% | N/A | |
Class B | 12.71% | |||
Class C | 6.62% | |||
Class Z | 6.81% | |||
COLUMBIA MGMT INVESTMENT ADVSR LLC ATTN KATRINA MACBAIN 50807 AMERIPRISE FINANCIAL CTR MINNEAPOLIS MN 55474-0508 | Class R5 | 7.87% | N/A (a) | |
Class W | 100.00% | |||
Class Y | 100.00% | |||
FIIOC FBO CORD MOVING & STORAGE 401(K) PLAN 100 MAGELLAN WAY (KW1C) COVINGTON KY 41015-1987 | Class R | 8.88% | N/A |
Statement of Additional Information – December 1, 2015 | 221 |
Table of Contents
Fund | Shareholder Name and Address | Share Class | Percentage of Class | Percentage of Fund (if greater than 25%) |
FIRST CLEARING LLC SPECIAL CUSTODY ACCT FOR THE EXCLUSIVE BENEFIT OF CUSTOMER 2801 MARKET ST SAINT LOUIS MO 63103-2523 | Class A | 5.42% | N/A | |
Class B | 14.93% | |||
Class C | 6.64% | |||
JPMCB NA CUST FOR COLUMBIA INCOME BUILDER FUND 14201 N DALLAS PKWY FL 13 DALLAS TX 75254-2916 | Class I | 65.64% | N/A | |
JPMCB NA CUST FOR COLUMBIA LIFEGOAL GROWTH PORTFOLIO 14201 N DALLAS PKWY FL 13 DALLAS TX 75254-2916 | Class I | 34.36% | N/A | |
LPL FINANCIAL FBO CUSTOMER ACCOUNTS 9785 TOWNE CENTRE DR SAN DIEGO CA 92121-1968 | Class C | 9.45% | N/A | |
MERRILL LYNCH PIERCE FENNER & SMITH FOR THE SOLE BENEFIT OF ITS CUSTOMERS ATTN FUND ADMINISTRATION 4800 DEER LAKE DR E FL 2 JACKSONVILLE FL 32246-6484 | Class A | 7.73% | N/A | |
Class B | 15.57% | |||
Class C | 14.66% | |||
MG TRUST COMPANY CUST FBO CREATIVE CONCEPTS OF ORLANDO INC 4 717 17TH ST STE 1300 DENVER CO 80202-3304 | Class R | 6.69% | N/A | |
MORGAN STANLEY SMITH BARNEY HARBORSIDE FINANCIAL CENTER PLAZA 2, 3RD FLOOR JERSEY CITY NJ 07311 | Class C | 8.08% | N/A | |
NATIONAL FINANCIAL SERVICES LLC FEBO CUSTOMERS MUTUAL FUNDS 200 LIBERTY STREET 1WFC NEW YORK NY 10281-1003 | Class A | 7.23% | N/A | |
Class B | 6.06% | |||
Class R4 | 23.60% | |||
PERSHING LLC 1 PERSHING PLZ JERSEY CITY NJ 07399-0002 | Class A | 5.53% | N/A | |
Class R4 | 73.33% | |||
RELIANCE TRUST CO CUST FBO MASSMUTUAL OMNIBUS PLL/SMF PO BOX 48529 ATLANTA GA 30362-1529 | Class R | 75.41% | N/A | |
TD AMERITRADE INC FOR THE EXCLUSIVE BENEFIT OF OUR CLIENTS PO BOX 2226 OMAHA NE 68103-2226 | Class R5 | 92.13% | N/A | |
UBS WM USA OMNI ACCOUNT M/F ATTN: DEPARTMENT MANAGER 1000 HARBOR BLVD WEEHAWKEN NJ 07086-6761 | Class C | 13.60% | N/A | |
Global Energy and Natural Resources Fund | AMERICAN ENTERPRISE INVESTMENT SVC 707 2ND AVE S MINNEAPOLIS MN 55402-2405 | Class A | 23.72% | N/A |
Class B | 24.20% | |||
Class C | 24.49% | |||
BAILEY REHABILITATION SERVICES TTEE BAILEY REHABILITATION SERVICES INC C/O FASCORE LLC 8515 E ORCHARD RD # 2T2 GREENWOOD VLG CO 80111-5002 | Class R | 5.60% | N/A |
Statement of Additional Information – December 1, 2015 | 222 |
Table of Contents
Fund | Shareholder Name and Address | Share Class | Percentage of Class | Percentage of Fund (if greater than 25%) |
CAPITAL BANK & TRUST CO TTEE FBO ATS AUTOMATION INC 401K C/O FASCORE LLC 8515 E ORCHARD RD # 2T2 GREENWOOD VLG CO 80111-5002 | Class R | 6.28% | N/A | |
CHARLES SCHWAB & CO INC SPECIAL CUSTODY A/C FBO CUSTOMERS ATTN MUTUAL FUND DEPT 101 MONTGOMERY ST SAN FRANCISCO CA 94104-4151 | Class R5 | 12.60% | N/A | |
Class Z | 37.04% | |||
Class K | 8.94% | |||
FIRST CLEARING LLC 2801 MARKET ST SAINT LOUIS MO 63103-2523 | Class K | 87.41% | N/A | |
FIRST CLEARING LLC SPECIAL CUSTODY ACCT FOR THE EXCLUSIVE BENEFIT OF CUSTOMER 2801 MARKET ST SAINT LOUIS MO 63103-2523 | Class B | 7.57% | N/A | |
Class C | 11.82% | |||
GLOBAL MINE SERVICES INC TTEE FBO GLOBAL MINE SERVICE INC 401K PLAN C/O FASCORE 8515 E ORCHARD RD # 2T2 GREENWOOD VLG CO 80111-5002 | Class R | 6.95% | N/A | |
JPMCB NA CUST FOR COLUMBIA LIFEGOAL GROWTH PORTFOLIO 14201 N DALLAS PKWY FL 13 DALLAS TX 75254-2916 | Class I | 99.99% | N/A | |
LPL FINANCIAL FBO CUSTOMER ACCOUNTS 9785 TOWNE CENTRE DR SAN DIEGO CA 92121-1968 | Class C | 8.81% | N/A | |
MERRILL LYNCH, PIERCE, FENNER & SMITH INC FOR THE SOLE BENEFIT OF ITS CUSTOMERS ATTENTION SERVICE TEAM 4800 DEER LAKE DRIVE EAST 3RD FLOOR JACKSONVILLE FL 32246-6484 | Class C | 8.72% | N/A | |
NATIONAL FINANCIAL SERVICES LLC FEBO CUSTOMERS MUTUAL FUNDS 200 LIBERTY STREET 1WFC NEW YORK NY 10281-1003 | Class R5 | 83.15% | N/A | |
Class Z | 17.42% | |||
Class R4 | 6.47% | |||
PERSHING LLC 1 PERSHING PLZ JERSEY CITY NJ 07399-0002 | Class C | 7.77% | N/A | |
Class R4 | 93.18% | |||
RAYMOND JAMES FBO OMNIBUS FOR MUTUAL FUNDS ATTN: COURTNEY WALLER 880 CARILLON PKWY ST PETERSBURG FL 33716-1100 | Class C | 10.49% | N/A | |
WILL FISCHER DIST CO INC TTEE FBO WILL FISCHER DISTRIBUTING CO INC 40 C/O FASCORE LLC 8515 E ORCHARD RD # 2T2 GREENWOOD VLG CO 80111-5002 | Class R | 7.13% | N/A | |
Global Technology Growth Fund | AMERICAN ENTERPRISE INVESTMENT SVC 707 2ND AVE S MINNEAPOLIS MN 55402-2405 | Class A | 22.45% | N/A |
Class B | 11.26% |
Statement of Additional Information – December 1, 2015 | 223 |
Table of Contents
Fund | Shareholder Name and Address | Share Class | Percentage of Class | Percentage of Fund (if greater than 25%) |
CHARLES SCHWAB & CO INC SPECIAL CUSTODY A/C FBO CUSTOMERS ATTN MUTUAL FUND DEPT 101 MONTGOMERY ST SAN FRANCISCO CA 94104-4151 | Class R5 | 67.64% | N/A | |
Class B | 7.42% | |||
Class Z | 7.08% | |||
FIIOC FBO WHITNEY BRADLEY & BROWN INC 401(K) PLAN & TRUST 100 MAGELLAN WAY # KW1C COVINGTON KY 41015-1987 | Class R4 | 30.77% | N/A | |
FIRST CLEARING LLC SPECIAL CUSTODY ACCT FOR THE EXCLUSIVE BENEFIT OF CUSTOMER 2801 MARKET ST SAINT LOUIS MO 63103-2523 | Class B | 22.26% | N/A | |
Class C | 8.12% | |||
LPL FINANCIAL 9785 TOWNE CENTRE DR SAN DIEGO CA 92121-1968 | Class A | 7.53% | N/A | |
Class Z | 12.25% | |||
LPL FINANCIAL FBO CUSTOMER ACCOUNTS 9785 TOWNE CENTRE DR SAN DIEGO CA 92121-1968 | Class C | 8.29% | N/A | |
MATRIX TRUST COMPANY CUST. FBO PORTLAND ENERGY CONSERVATION, INC. 717 17TH ST STE 1300 DENVER CO 80202-3304 | Class R5 | 5.69% | N/A | |
MERRILL LYNCH PIERCE FENNER & SMITH FOR THE SOLE BENEFIT OF ITS CUSTOMERS ATTN FUND ADMINISTRATION 4800 DEER LAKE DR E FL 2 JACKSONVILLE FL 32246-6484 | Class B | 8.61% | N/A | |
Class C | 37.45% | |||
Class Z | 33.63% | |||
MORGAN STANLEY SMITH BARNEY HARBORSIDE FINANCIAL CENTER PLAZA 2, 3RD FLOOR JERSEY CITY NJ 07311 | Class B | 11.27% | N/A | |
Class C | 12.03% | |||
NATIONAL FINANCIAL SERVICES LLC FEBO CUSTOMERS MUTUAL FUNDS 200 LIBERTY STREET 1WFC NEW YORK NY 10281-1003 | Class A | 7.82% | N/A | |
Class B | 7.21% | |||
PERSHING LLC 1 PERSHING PLZ JERSEY CITY NJ 07399-0002 | Class A | 10.53% | N/A | |
Class B | 12.20% | |||
Class C | 5.75% | |||
Class R4 | 59.54% | |||
RAYMOND JAMES FBO OMNIBUS FOR MUTUAL FUNDS ATTN: COURTNEY WALLER 880 CARILLON PKWY ST PETERSBURG FL 33716-1100 | Class Z | 8.00% | N/A | |
UBS WM USA OMNI ACCOUNT M/F ATTN: DEPARTMENT MANAGER 1000 HARBOR BLVD WEEHAWKEN NJ 07086-6761 | Class C | 5.39% | N/A | |
WILMINGTON TRUST RISC AS CUST FBO BSBP & A LLP 401(K) PLAN I PO BOX 52129 PHOENIX AZ 85072-2129 | Class R5 | 19.64% | N/A | |
Greater China Fund | AMERICAN ENTERPRISE INVESTMENT SVC 707 2ND AVE S MINNEAPOLIS MN 55402-2405 | Class B | 6.26% | N/A |
Statement of Additional Information – December 1, 2015 | 224 |
Table of Contents
Fund | Shareholder Name and Address | Share Class | Percentage of Class | Percentage of Fund (if greater than 25%) |
CHARLES SCHWAB & CO INC SPECIAL CUSTODY ACCT FBO CUSTOMERS ATTN MUTUAL FUNDS 101 MONTGOMERY ST SAN FRANCISCO CA 94104-4151 | Class B | 6.01% | N/A | |
COLUMBIA MGMT INVESTMENT ADVSR LLC ATTN KATRINA MACBAIN 50807 AMERIPRISE FINANCIAL CTR MINNEAPOLIS MN 55474-0508 | Class I | 100.00% | N/A (a) | |
Class R4 | 9.68% | |||
Class W | 100.00% | |||
EDWARD D JONES & CO FOR THE BENEFIT OF CUSTOMERS 12555 MANCHESTER RD SAINT LOUIS MO 63131-3729 | Class B | 6.16% | N/A | |
FIRST CLEARING LLC SPECIAL CUSTODY ACCT FOR THE EXCLUSIVE BENEFIT OF CUSTOMER 2801 MARKET ST SAINT LOUIS MO 63103-2523 | Class A | 8.51% | N/A | |
Class B | 8.33% | |||
Class C | 16.39% | |||
Class Z | 10.54% | |||
GREAT-WEST TRUST COMPANY LLC TTEE F EMPLOYEE BENEFITS CLIENTS 401K 8515 E ORCHARD RD # 2T2 GREENWOOD VLG CO 80111-5002 | Class R5 | 50.52% | N/A | |
LPL FINANCIAL FBO CUSTOMER ACCOUNTS 9785 TOWNE CENTRE DR SAN DIEGO CA 92121-1968 | Class B | 5.47% | N/A | |
MERRILL LYNCH PIERCE FENNER & SMITH FOR THE SOLE BENEFIT OF ITS CUSTOMERS ATTN FUND ADMINISTRATION 4800 DEER LAKE DR E FL 2 JACKSONVILLE FL 32246-6484 | Class A | 9.31% | N/A | |
Class B | 19.51% | |||
Class C | 24.85% | |||
Class Z | 27.90% | |||
MORGAN STANLEY SMITH BARNEY HARBORSIDE FINANCIAL CENTER PLAZA 2, 3RD FLOOR JERSEY CITY NJ 07311 | Class A | 10.14% | N/A | |
Class B | 7.11% | |||
Class C | 12.38% | |||
NATIONAL FINANCIAL SERVICES LLC FEBO CUSTOMERS MUTUAL FUNDS 200 LIBERTY STREET 1WFC NEW YORK NY 10281-1003 | Class A | 11.91% | N/A | |
Class B | 12.05% | |||
Class C | 10.29% | |||
Class R4 | 18.37% | |||
PERSHING LLC 1 PERSHING PLZ JERSEY CITY NJ 07399-0002 | Class A | 8.98% | N/A | |
Class B | 9.76% | |||
Class C | 8.83% | |||
Class R4 | 71.94% | |||
Class R5 | 19.49% | |||
RBC CAPITAL MARKETS, LLC MUTUAL FUND OMNIBUS PROCESSING OMNIBUS ATTN MUTUAL FUND OPS MANAGER 510 MARQUETTE AVE S MINNEAPOLIS MN 55402-1110 | Class Z | 16.05% | N/A | |
TD AMERITRADE INC FOR THE EXCLUSIVE BENEFIT OF OUR CLIENTS PO BOX 2226 OMAHA NE 68103-2226 | Class R5 | 28.03% | N/A | |
UBS WM USA OMNI ACCOUNT M/F ATTN: DEPARTMENT MANAGER 1000 HARBOR BLVD WEEHAWKEN NJ 07086-6761 | Class C | 5.32% | N/A |
Statement of Additional Information – December 1, 2015 | 225 |
Table of Contents
Fund | Shareholder Name and Address | Share Class | Percentage of Class | Percentage of Fund (if greater than 25%) |
Mid Cap Growth Fund | AMERICAN ENTERPRISE INVESTMENT SVC 707 2ND AVE S MINNEAPOLIS MN 55402-2405 | Class A | 7.87% | N/A |
Class B | 11.62% | |||
Class C | 6.64% | |||
Class W | 98.95% | |||
CAPITAL BANK & TRUST CO TTEE F EVO 401K PSP 8515 E ORCHARD RD # 2T2 GREENWOOD VLG CO 80111-5002 | Class R | 6.80% | N/A | |
CAPITAL BANK & TRUST COMPANY TTEE F SMITHGROUP RA 401K 8515 E ORCHARD RD # 2T2 GREENWOOD VLG CO 80111-5002 | Class R5 | 20.01% | N/A | |
CHARLES SCHWAB & CO INC CUST A/C FOR THE EXCLUSIVE BENEFIT ATTENTION MUTUAL FUNDS 101 MONTGOMERY ST SAN FRANCISCO CA 94104-4151 | Class K | 40.33% | N/A | |
Class Z | 10.09% | |||
COLUMBIA MGMT INVESTMENT ADVSR LLC ATTN KATRINA MACBAIN 50807 AMERIPRISE FINANCIAL CTR MINNEAPOLIS MN 55474-0508 | Class Y | 100.00% | N/A (a) | |
COUNSEL TRUST DBA MATC FBO ANDERSON & VREELAND INC PSP 1251 WATERFRONT PL STE 525 PITTSBURGH PA 15222-4228 | Class R | 5.09% | N/A | |
DCGT AS TTEE AND /OR CUST FBO PLIC VARIOUS RETIREMENT PLANS OMNIBUS ATTN NPIO TRADE DESK 711 HIGH ST DES MOINES IA 50392-0001 | Class R | 18.25% | N/A | |
FIIOC FBO ARBELLA 401(K) SAVINGS 100 MAGELLAN WAY (KW1C) COVINGTON KY 41015-1987 | Class R4 | 41.19% | N/A | |
FIRST CLEARING LLC SPECIAL CUSTODY ACCT FOR THE EXCLUSIVE BENEFIT OF CUSTOMER 2801 MARKET ST SAINT LOUIS MO 63103-2523 | Class C | 10.22% | N/A | |
Class K | 10.43% | |||
JPMCB NA CUST FOR COLUMBIA LIFEGOAL GROWTH PORTFOLIO 14201 N DALLAS PKWY FL 13 DALLAS TX 75254-2916 | Class I | 99.99% | N/A | |
KENNETH MECK TRUSTEE PA ASSOC OF CONSERVATION 401 (K) PROFIT SHARING PLAN & TRUST 25 NORTH FRONT STREET HARRISBURG PA 17101-1627 | Class K | 11.06% | N/A | |
MERRILL LYNCH PIERCE FENNER & SMITH INC FOR THE SOLE BENEFIT OF IT S CUSTOM 4800 DEER LAKE DR E JACKSONVILLE FL 32246-6484 | Class Z | 29.43% | N/A | |
Class C | 13.53% | |||
Class R | 26.64% | |||
Class T | 15.29% | |||
MID ATLANTIC TRUST COMPANY FBO I C S INC 401(K) PROFIT SHARING PLAN & TRUST 1251 WATERFRONT PL STE 525 PITTSBURGH PA 15222-4228 | Class R4 | 14.60% | N/A |
Statement of Additional Information – December 1, 2015 | 226 |
Table of Contents
Fund | Shareholder Name and Address | Share Class | Percentage of Class | Percentage of Fund (if greater than 25%) |
MORGAN STANLEY SMITH BARNEY HARBORSIDE FINANCIAL CENTER PLAZA 2, 3RD FLOOR JERSEY CITY NJ 07311 | Class C | 7.27% | N/A | |
NATIONAL FINANCIAL SERVICES LLC FEBO CUSTOMERS MUTUAL FUNDS 200 LIBERTY STREET 1WFC NEW YORK NY 10281-1003 | Class R5 | 71.43% | N/A | |
Class T | 5.33% | |||
Class Z | 13.26% | |||
PERSHING LLC 1 PERSHING PLZ JERSEY CITY NJ 07399-0002 | Class C | 9.48% | N/A | |
Class R4 | 26.44% | |||
STATE STREET CORPORATION FBO ADP ACCESS 1 LINCOLN ST BOSTON MA 02111-2901 | Class K | 19.28% | N/A | |
Small Cap Core Fund | AMERICAN ENTERPRISE INVESTMENT SVC 707 2ND AVE S MINNEAPOLIS MN 55402-2405 | Class A | 52.08% | N/A |
Class B | 27.73% | |||
Class C | 16.01% | |||
Class W | 99.51% | |||
ASCENSUS TRUST COMPANY FBO EVERENCE SERVICES, LLC 401(K) PLAN PO BOX 10758 FARGO ND 58106-0758 | Class R4 | 13.19% | N/A | |
ASCENSUS TRUST COMPANY FBO SPARTAN CHEMICAL COMPANY INC EE P PO BOX 10758 FARGO ND 58106-0758 | Class R5 | 7.12% | N/A | |
CHARLES SCHWAB & CO INC SPECIAL CUSTODY A/C FBO CUSTOMERS ATTN MUTUAL FUND DEPT 101 MONTGOMERY ST SAN FRANCISCO CA 94104-4151 | Class R5 | 16.10% | N/A | |
DCGT AS TTEE AND/OR CUST FBO PLIC VARIOUS RETIREMENT PLANS OMNIBUS ATTN NPIO TRADE DESK 711 HIGH ST DES MOINES IA 50392-0001 | Class A | 5.94% | N/A | |
Class R4 | 18.96% | |||
FIIOC FBO AEGIS TECHNOLOGIES GROUP INC 100 MAGELLAN WAY # KW1C COVINGTON KY 41015-1987 | Class R4 | 25.10% | N/A | |
FIRST CLEARING LLC SPECIAL CUSTODY ACCT FOR THE EXCLUSIVE BENEFIT OF CUSTOMER 2801 MARKET ST SAINT LOUIS MO 63103-2523 | Class B | 12.79% | N/A | |
Class C | 13.76% | |||
JPMCB NA CUST FOR COLUMBIA CAPITAL ALLOCATION AGGRESSIVE PORTFOLIO 14201 N DALLAS PKWY FL 13 DALLAS TX 75254-2916 | Class I | 17.10% | N/A | |
JPMCB NA CUST FOR COLUMBIA CAPITAL ALLOCATION MODERATE AGGRESSIVE PORTFOLIO 14201 N DALLAS PKWY FL 13 DALLAS TX 75254-2916 | Class I | 20.60% | N/A |
Statement of Additional Information – December 1, 2015 | 227 |
Table of Contents
Fund | Shareholder Name and Address | Share Class | Percentage of Class | Percentage of Fund (if greater than 25%) |
JPMCB NA CUST FOR COLUMBIA CAPITAL ALLOCATION MODERATE CONSERVATIVE PORTFOLIO 14201 N DALLAS PKWY FL 13 DALLAS TX 75254-2916 | Class I | 18.89% | N/A | |
JPMCB NA CUST FOR COLUMBIA CAPITAL ALLOCATION MODERATE PORTFOLIO 14201 N DALLAS PKWY FL 13 DALLAS TX 75254-2916 | Class I | 40.29% | N/A | |
LPL FINANCIAL FBO CUSTOMER ACCOUNTS 9785 TOWNE CENTRE DR SAN DIEGO CA 92121-1968 | Class B | 12.22% | N/A | |
MERRILL LYNCH PIERCE FENNER & SMITH INC FOR THE SOLE BENEFIT OF ITS CUSTOMERS 4800 DEER LAKE DR E JACKSONVILLE FL 32246-6484 | Class T | 29.42% | 26.86% | |
Class A | 11.79% | |||
Class B | 9.95% | |||
Class C | 18.44% | |||
Class R4 | 9.74% | |||
Class Z | 48.75% | |||
MORGAN STANLEY SMITH BARNEY HARBORSIDE FINANCIAL CENTER PLAZA 2, 3RD FLOOR JERSEY CITY NJ 07311 | Class C | 10.22% | N/A | |
NATIONAL FINANCIAL SERVICES LLC FEBO CUSTOMERS MUTUAL FUNDS 200 LIBERTY STREET 1WFC NEW YORK NY 10281-1003 | Class C | 10.21% | N/A | |
Class R4 | 18.28% | |||
Class Y | 70.56% | |||
Class Z | 12.62% | |||
NORTHERN TRUST CO TTEE FBO APOLLO DV PO BOX 92994 CHICAGO IL 60675-2994 | Class Z | 5.87% | N/A | |
PERSHING LLC 1 PERSHING PLZ JERSEY CITY NJ 07399-0002 | Class B | 6.05% | N/A | |
Class C | 7.73% | |||
STATE STREET BANK & TRUST CO ANDREW P CAPARELLI SEP IRA 107 STONEWALL CIR WEST HARRISON NY 10604-1119 | Class B | 6.01% | N/A | |
TAYNIK & CO C/O INVESTORS BANK & TRUST CO 200 CLARENDON ST FL 17 BOSTON MA 02116-5097 | Class R5 | 69.51% | N/A | |
Class Y | 28.94% | |||
UBS WM USA OMNI ACCOUNT M/F ATTN: DEPARTMENT MANAGER 1000 HARBOR BLVD WEEHAWKEN NJ 07086-6761 | Class B | 8.00% | N/A | |
Small Cap Growth Fund I | AMERICAN ENTERPRISE INVESTMENT SVC 707 2ND AVE S MINNEAPOLIS MN 55402-2405 | Class A | 6.93% | N/A |
Class B | 11.27% | |||
ASCENSUS TRUST CO FBO ACTIGRAPH LLC 401K PLAN PO BOX 10758 FARGO ND 58106-0758 | Class R | 10.24% | N/A | |
CHARLES SCHWAB & CO INC CUST A/C FOR THE EXCLUSIVE BENEFIT ATTENTION MUTUAL FUNDS 101 MONTGOMERY ST SAN FRANCISCO CA 94104-4151 | Class K | 83.28% | N/A | |
Class Z | 8.61% |
Statement of Additional Information – December 1, 2015 | 228 |
Table of Contents
Fund | Shareholder Name and Address | Share Class | Percentage of Class | Percentage of Fund (if greater than 25%) |
COLUMBIA MGMT INVESTMENT ADVSR LLC ATTN KATRINA MACBAIN 50807 AMERIPRISE FINANCIAL CTR MINNEAPOLIS MN 55474-0508 | Class K | 5.70% | N/A (a) | |
FIRST CLEARING LLC SPECIAL CUSTODY ACCT FOR THE EXCLUSIVE BENEFIT OF CUSTOMER 2801 MARKET ST SAINT LOUIS MO 63103-2523 | Class B | 13.03% | N/A | |
Class C | 15.46% | |||
Class K | 11.02% | |||
HEI HOSPITALITY LLC FBO EXEC EXCESS OF HEI HOSPITALITY ATTN ERNIE FREEDMAN 101 MERRITT 7 STE 1 NORWALK CT 06851-1060 | Class R | 5.37% | N/A | |
JPMCB NA CUST FOR COLUMBIA CAPITAL ALLOCATION AGGRESSIVE PORTFOLIO 14201 N DALLAS PKWY FL 13 DALLAS TX 75254-2916 | Class I | 5.68% | N/A | |
JPMCB NA CUST FOR COLUMBIA CAPITAL ALLOCATION MODERATE AGGRESSIVE PORTFOLIO 14201 N DALLAS PKWY FL 13 DALLAS TX 75254-2916 | Class I | 23.62% | N/A | |
JPMCB NA CUST FOR COLUMBIA LIFEGOAL GROWTH PORTFOLIO 14201 N DALLAS PKWY FL 13 DALLAS TX 75254-2916 | Class I | 70.69% | N/A | |
MERRILL LYNCH PIERCE FENNER & SMITH INC FOR THE SOLE BENEFIT OF IT S CUSTOM 4800 DEER LAKE DR E JACKSONVILLE FL 32246-6484 | Class Z | 30.02% | N/A | |
Class A | 13.79% | |||
Class B | 11.55% | |||
Class C | 18.26% | |||
Class R | 5.38% | |||
MG TRUST COMPANY TRUSTEE EMAK HOLDINGS INC 401 K PLAN 717 17TH ST STE 1300 DENVER CO 80202-3304 | Class Y | 9.73% | N/A | |
MG TRUST COMPANY TRUSTEE SANGER & EBY DESIGN PS & 401K PL 717 17TH ST STE 1300 DENVER CO 80202-3304 | Class R | 5.46% | N/A | |
MORGAN STANLEY SMITH BARNEY HARBORSIDE FINANCIAL CENTER PLAZA 2, 3RD FLOOR JERSEY CITY NJ 07311 | Class C | 6.12% | N/A | |
NATIONAL FINANCIAL SERVICES LLC FEBO CUSTOMERS MUTUAL FUNDS 200 LIBERTY STREET 1WFC NEW YORK NY 10281-1003 | Class A | 5.70% | N/A | |
Class B | 7.97% | |||
Class R4 | 70.45% | |||
Class R5 | 5.73% | |||
Class Y | 22.71% | |||
Class Z | 23.50% | |||
PERSHING LLC 1 PERSHING PLZ JERSEY CITY NJ 07399-0002 | Class B | 6.08% | N/A | |
Class C | 6.57% | |||
Class R4 | 27.59% | |||
RELIANCE TRUST CO CUST FBO MASSMUTUAL OMNIBUS PLL/SMF PO BOX 48529 ATLANTA GA 30362-1529 | Class R | 52.57% | N/A |
Statement of Additional Information – December 1, 2015 | 229 |
Table of Contents
Fund | Shareholder Name and Address | Share Class | Percentage of Class | Percentage of Fund (if greater than 25%) |
T ROWE PRICE TRUST CO TTEE FBO RETIREMENT PLAN CLIENTS PO BOX 17215 BALTIMORE MD 21297-1215 | Class Y | 67.50% | N/A | |
WELLS FARGO BANK FBO YAZAKI EMPLOYEE SAV & RET PLAN 1525 WEST WT HARRIS BLVD CHARLOTTE NC 28288-1076 | Class R5 | 92.19% | N/A | |
Value and Restructuring Fund | AMERICAN ENTERPRISE INVESTMENT SVC 707 2ND AVE S MINNEAPOLIS MN 55402-2405 | Class A | 37.08% | N/A |
Class C | 11.87% | |||
CHARLES SCHWAB & CO INC SPECIAL CUSTODY A/C FBO CUSTOMERS ATTN MUTUAL FUND DEPT 101 MONTGOMERY ST SAN FRANCISCO CA 94104-4151 | Class R5 | 37.44% | 32.07% | |
Class A | 6.55% | |||
Class Z | 34.23% | |||
COLUMBIA MGMT INVESTMENT ADVSR LLC ATTN KATRINA MACBAIN 50807 AMERIPRISE FINANCIAL CTR MINNEAPOLIS MN 55474-0508 | Class I | 100.00% | N/A (a) | |
Class W | 100.00% | |||
DCGT AS TTEE AND/OR CUST FBO PLIC VARIOUS RETIREMENT PLANS OMNIBUS ATTN NPIO TRADE DESK 711 HIGH ST DES MOINES IA 50392-0001 | Class R | 41.66% | N/A | |
FIIOC FBO HARDEL MUTUAL PLYWOOD CORPORATION 401(K) PROFIT SHARING PLAN 100 MAGELLAN WAY (KW1C) COVINGTON KY 41015-1987 | Class R | 7.27% | N/A | |
FIIOC FBO STAGGS & FISHER 401(K) PLAN 100 MAGELLAN WAY (KW1C) COVINGTON KY 41015-1987 | Class R | 8.05% | N/A | |
FIRST CLEARING LLC SPECIAL CUSTODY ACCT FOR THE EXCLUSIVE BENEFIT OF CUSTOMER 2801 MARKET ST SAINT LOUIS MO 63103-2523 | Class C | 6.65% | N/A | |
GREAT-WEST TRUST COMPANY LLC TTEE F EMPLOYEE BENEFITS CLIENTS 401K – FG 8515 E ORCHARD RD 2T2 GREENWOOD VILLAGE CO 80111-5002 | Class R | 5.77% | N/A | |
LPL FINANCIAL 9785 TOWNE CENTRE DR SAN DIEGO CA 92121-1968 | Class A | 5.65% | N/A | |
Class C | 8.46% | |||
MERRILL LYNCH PIERCE FENNER & SMITH FOR THE SOLE BENEFIT OF IT CUSTOMER 4800 DEER LAKE DR E JACKSONVILLE FL 32246-6484 | Class Z | 13.23% | N/A | |
Class C | 13.26% | |||
MORGAN STANLEY SMITH BARNEY HARBORSIDE FINANCIAL CENTER PLAZA 2, 3RD FLOOR JERSEY CITY NJ 07311 | Class C | 12.13% | N/A | |
NATIONAL FINANCIAL SERVICES LLC FEBO CUSTOMERS MUTUAL FUNDS 200 LIBERTY STREET 1WFC NEW YORK NY 10281-1003 | Class A | 5.80% | N/A | |
Class C | 7.15% | |||
Class R4 | 33.44% | |||
Class R5 | 38.30% | |||
Class Z | 18.21% |
Statement of Additional Information – December 1, 2015 | 230 |
Table of Contents
Fund | Shareholder Name and Address | Share Class | Percentage of Class | Percentage of Fund (if greater than 25%) |
PERSHING LLC 1 PERSHING PLZ JERSEY CITY NJ 07399-0002 | Class A | 12.17% | N/A | |
Class C | 15.72% | |||
Class R4 | 12.31% | |||
Class Y | 60.92% | |||
RAYMOND JAMES FBO OMNIBUS FOR MUTUAL FUNDS ATTN: COURTNEY WALLER 880 CARILLON PKWY ST PETERSBURG FL 33716-1100 | Class A | 5.98% | N/A | |
Class C | 9.45% | |||
RELIANCE TRUST CO CUST FBO MASSMUTUAL OMNIBUS PLL/SMF PO BOX 48529 ATLANTA GA 30362-1529 | Class R | 8.73% | N/A | |
TAYNIK & CO C/O INVESTORS BANK & TRUST CO 200 CLARENDON ST FL 17 BOSTON MA 02116-5097 | Class R4 | 54.10% | N/A | |
TD AMERITRADE INC FOR THE EXCLUSIVE BENEFIT OF OUR CLIENTS PO BOX 2226 OMAHA NE 68103-2226 | Class R5 | 22.75% | N/A | |
UBS WM USA OMNI ACCOUNT M/F ATTN: DEPARTMENT MANAGER 1000 HARBOR BLVD WEEHAWKEN NJ 07086-6761 | Class C | 7.88% | N/A | |
VANGUARD FDUCIARY TRUST CO PO BOX 2600 VM 613 ATTN: OUTSIDE FUNDS VALLEY FORGE PA 19482-2600 | Class Y | 38.82% | N/A |
Fund | Shareholder Name and Address | Share Class | Percentage of Class | Percentage of Fund (if greater than 25%) |
AMT-Free CT Intermediate Muni Bond Fund | AMERICAN ENTERPRISE INVESTMENT SVC 707 2ND AVE S MINNEAPOLIS MN 55402-2405 | Class A | 16.94% | N/A |
Class C | 10.93% | |||
CHARLES SCHWAB & CO INC CUST ATTN MUTUAL FUNDS DEPT 101 MONTGOMERY ST SAN FRANCISCO CA 94104-4151 | Class A | 9.26% | N/A | |
FIRST CLEARING LLC SPECIAL CUSTODY ACCT FOR THE EXCLUSIVE BENEFIT OF CUSTOMER 2801 MARKET ST SAINT LOUIS MO 63103-2523 | Class A | 5.41% | N/A | |
Class C | 21.60% | |||
KELLY F SHACKELFORD PO BOX 672 NEW CANAAN CT 06840-0672 | Class T | 13.75% | N/A | |
LPL FINANCIAL FBO CUSTOMER ACCOUNTS 9785 TOWNE CENTRE DR SAN DIEGO CA 92121-1968 | Class C | 8.67% | N/A | |
MERRILL LYNCH PIERCE FENNER & SMITH FOR THE SOLE BENEFIT OF ITS CUSTOMERS ATTN FUND ADMINISTRATION 4800 DEER LAKE DR E FL 3 JACKSONVILLE FL 32246-6484 | Class A | 15.04% | 81.91% | |
Class B | 22.88% | |||
Class C | 18.63% | |||
Class T | 17.26% | |||
Class Z | 94.37% |
Statement of Additional Information – December 1, 2015 | 231 |
Table of Contents
Fund | Shareholder Name and Address | Share Class | Percentage of Class | Percentage of Fund (if greater than 25%) |
MORGAN STANLEY SMITH BARNEY HARBORSIDE FINANCIAL CENTER PLAZA 2, 3RD FLOOR JERSEY CITY NJ 07311 | Class A | 5.03% | N/A | |
Class C | 5.78% | |||
NATIONAL FINANCIAL SERVICES LLC FEBO CUSTOMERS MUTUAL FUNDS 200 LIBERTY STREET 1WFC NEW YORK NY 10281-1003 | Class A | 7.35% | N/A | |
Class B | 77.12% | |||
Class R4 | 33.57% | |||
PERSHING LLC 1 PERSHING PLZ JERSEY CITY NJ 07399-0002 | Class A | 14.49% | N/A | |
Class C | 12.03% | |||
Class R4 | 65.03% | |||
UBS WM USA OMNI ACCOUNT M/F ATTN: DEPARTMENT MANAGER 1000 HARBOR BLVD WEEHAWKEN NJ 07086-6761 | Class A | 14.70% | N/A | |
Class C | 6.87% | |||
AMT-Free Intermediate Muni Bond Fund | AMERICAN ENTERPRISE INV SVCS, INC ATTN: MFIS CUSTOMER 2003 AMERIPRISE FINANCIAL CTR MINNEAPOLIS MN 55474-0020 | Class B | 5.40% | N/A |
AMERICAN ENTERPRISE INVESTMENT SVC 707 2ND AVE S MINNEAPOLIS MN 55402-2405 | Class A | 22.65% | N/A | |
Class B | 8.35% | |||
Class C | 20.78% | |||
CHARLES SCHWAB & CO INC SPECIAL CUSTODY A/C FBO CUSTOMERS ATTN MUTUAL FUND DEPT 101 MONTGOMERY ST SAN FRANCISCO CA 94104-4151 | Class R5 | 38.07% | N/A | |
FIRST CLEARING LLC SPECIAL CUSTODY ACCT FOR THE EXCLUSIVE BENEFIT OF CUSTOMER 2801 MARKET ST SAINT LOUIS MO 63103-2523 | Class A | 6.52% | N/A | |
Class B | 21.95% | |||
Class C | 11.21% | |||
JOHN J ALMEIDA TR JOHN J ALMEIDA REVOCABLE TRUST U/A DATED MAY 15 1997 27 TOPMAST CT JAMESTOWN RI 02835-2227 | Class T | 6.54% | N/A | |
MERRILL LYNCH PIERCE FENNER & SMITH FOR THE SOLE BENEFIT OF ITS CUSTOMERS ATTN FUND ADMINISTRATION 4800 DEER LAKE DR E FL 2 JACKSONVILLE FL 32246-6484 | Class A | 12.04% | 78.90% | |
Class B | 29.96% | |||
Class C | 24.52% | |||
Class T | 11.92% | |||
Class Z | 89.48% | |||
MORGAN STANLEY SMITH BARNEY HARBORSIDE FINANCIAL CENTER PLAZA 2, 3RD FLOOR JERSEY CITY NJ 07311 | Class C | 8.14% | N/A | |
NATIONAL FINANCIAL SERVICES LLC FEBO CUSTOMERS MUTUAL FUNDS 200 LIBERTY STREET 1WFC NEW YORK NY 10281-1003 | Class C | 5.31% | N/A | |
Class R4 | 73.67% | |||
PERSHING LLC 1 PERSHING PLZ JERSEY CITY NJ 07399-0002 | Class R4 | 24.89% | N/A | |
Class R5 | 45.79% | |||
TD AMERITRADE INC FOR THE EXCLUSIVE BENEFIT OF OUR CLIENTS PO BOX 2226 OMAHA NE 68103-2226 | Class R5 | 15.79% | N/A |
Statement of Additional Information – December 1, 2015 | 232 |
Table of Contents
Fund | Shareholder Name and Address | Share Class | Percentage of Class | Percentage of Fund (if greater than 25%) |
UBS WM USA OMNI ACCOUNT M/F ATTN: DEPARTMENT MANAGER 1000 HARBOR BLVD WEEHAWKEN NJ 07086-6761 | Class A | 6.22% | N/A | |
Class C | 5.68% | |||
AMT-Free MA Intermediate Muni Bond Fund | AMERICAN ENTERPRISE INVESTMENT SVC 707 2ND AVE S MINNEAPOLIS MN 55402-2405 | Class A | 28.15% | N/A |
Class C | 16.77% | |||
COLUMBIA MGMT INVESTMENT ADVSR LLC ATTN KATRINA MACBAIN 50807 AMERIPRISE FINANCIAL CTR MINNEAPOLIS MN 55474-0508 | Class B | 99.90% | N/A (a) | |
FIRST CLEARING LLC SPECIAL CUSTODY ACCT FOR THE EXCLUSIVE BENEFIT OF CUSTOMER 2801 MARKET ST SAINT LOUIS MO 63103-2523 | Class A | 25.58% | N/A | |
Class C | 26.70% | |||
LPL FINANCIAL 9785 TOWNE CENTRE DR SAN DIEGO CA 92121-1968 | Class A | 5.63% | N/A | |
MERRILL LYNCH PIERCE FENNER & SMITH FOR THE SOLE BENEFIT OF ITS CUSTOMERS ATTN FUND ADMINISTRATION 4800 DEER LAKE DR E FL 3 JACKSONVILLE FL 32246-6484 | Class A | 10.02% | 81.26% | |
Class C | 23.17% | |||
Class T | 43.39% | |||
Class Z | 94.10% | |||
MORGAN STANLEY SMITH BARNEY HARBORSIDE FINANCIAL CENTER PLAZA 2, 3RD FLOOR JERSEY CITY NJ 07311 | Class C | 5.23% | N/A | |
NATIONAL FINANCIAL SERVICES LLC FEBO CUSTOMERS MUTUAL FUNDS 200 LIBERTY STREET 1WFC NEW YORK NY 10281-1003 | Class A | 16.19% | N/A | |
Class C | 11.22% | |||
Class R4 | 97.45% | |||
UBS WM USA OMNI ACCOUNT M/F ATTN: DEPARTMENT MANAGER 1000 HARBOR BLVD WEEHAWKEN NJ 07086-6761 | Class A | 5.50% | N/A | |
Class C | 9.00% | |||
AMT-Free NY Intermediate Muni Bond Fund | AMERICAN ENTERPRISE INVESTMENT SVC 707 2ND AVE S MINNEAPOLIS MN 55402-2405 | Class A | 46.37% | N/A |
CHARLES SCHWAB & CO INC CUST ATTN MUTUAL FUNDS DEPT 101 MONTGOMERY ST SAN FRANCISCO CA 94104-4151 | Class A | 6.92% | N/A | |
FIRST CLEARING LLC SPECIAL CUSTODY ACCT FOR THE EXCLUSIVE BENEFIT OF CUSTOMER 2801 MARKET ST SAINT LOUIS MO 63103-2523 | Class A | 6.51% | N/A | |
Class C | 11.28% | |||
MERRILL LYNCH PIERCE FENNER & SMITH FOR THE SOLE BENEFIT OF ITS CUSTOMERS ATTN FUND ADMINISTRATION 4800 DEER LAKE DR E FL 3 JACKSONVILLE FL 32246-6484 | Class A | 7.08% | 69.43% | |
Class C | 49.63% | |||
Class T | 23.58% | |||
Class Z | 79.17% | |||
MORGAN STANLEY SMITH BARNEY HARBORSIDE FINANCIAL CENTER PLAZA 2, 3RD FLOOR JERSEY CITY NJ 07311 | Class A | 12.88% | N/A | |
Class C | 10.21% |
Statement of Additional Information – December 1, 2015 | 233 |
Table of Contents
Fund | Shareholder Name and Address | Share Class | Percentage of Class | Percentage of Fund (if greater than 25%) |
NATIONAL FINANCIAL SERVICES LLC FEBO CUSTOMERS MUTUAL FUNDS 200 LIBERTY STREET 1WFC NEW YORK NY 10281-1003 | Class C | 5.34% | N/A | |
Class R4 | 68.26% | |||
PERSHING LLC 1 PERSHING PLZ JERSEY CITY NJ 07399-0002 | Class B | 7.33% | N/A | |
Class C | 5.04% | |||
Class R4 | 29.62% | |||
UBS WM USA OMNI ACCOUNT M/F ATTN: DEPARTMENT MANAGER 1000 HARBOR BLVD WEEHAWKEN NJ 07086-6761 | Class B | 89.09% | N/A | |
Class C | 5.60% | |||
CA Tax-Exempt Fund | AMERICAN ENTERPRISE INV SVCS, INC ATTN: MFIS CUSTOMER 2003 AMERIPRISE FINANCIAL CTR MINNEAPOLIS MN 55474-0020 | Class B | 26.80% | N/A |
AMERICAN ENTERPRISE INVESTMENT SVC 707 2ND AVE S MINNEAPOLIS MN 55402-2405 | Class A | 9.66% | N/A | |
Class C | 8.79% | |||
COLUMBIA MGMT INVESTMENT ADVSR LLC ATTN KATRINA MACBAIN 50807 AMERIPRISE FINANCIAL CTR MINNEAPOLIS MN 55474-0508 | Class R4 | 40.59% | N/A (a) | |
FIRST CLEARING LLC SPECIAL CUSTODY ACCT FOR THE EXCLUSIVE BENEFIT OF CUSTOMER 2801 MARKET ST SAINT LOUIS MO 63103-2523 | Class A | 6.59% | N/A | |
Class B | 19.20% | |||
Class C | 10.26% | |||
MERRILL LYNCH PIERCE FENNER & SMITH FOR THE SOLE BENEFIT OF ITS CUSTOMERS ATTN FUND ADMINISTRATION 4800 DEER LAKE DR E FL 2 JACKSONVILLE FL 32246-6484 | Class A | 9.26% | N/A | |
Class B | 17.28% | |||
Class C | 42.60% | |||
Class Z | 74.59% | |||
MORGAN STANLEY SMITH BARNEY HARBORSIDE FINANCIAL CENTER PLAZA 2, 3RD FLOOR JERSEY CITY NJ 07311 | Class A | 5.69% | N/A | |
Class C | 13.20% | |||
Class Z | 5.21% | |||
PERSHING LLC 1 PERSHING PLZ JERSEY CITY NJ 07399-0002 | Class B | 10.46% | N/A | |
Class R4 | 59.41% | |||
UBS WM USA OMNI ACCOUNT M/F ATTN: DEPARTMENT MANAGER 1000 HARBOR BLVD WEEHAWKEN NJ 07086-6761 | Class Z | 5.58% | N/A | |
NY Tax-Exempt Fund | AMERICAN ENTERPRISE INVESTMENT SVC 707 2ND AVE S MINNEAPOLIS MN 55402-2405 | Class A | 13.28% | N/A |
Class B | 5.21% | |||
Class C | 7.59% | |||
COLUMBIA MGMT INVESTMENT ADVSR LLC ATTN KATRINA MACBAIN 50807 AMERIPRISE FINANCIAL CTR MINNEAPOLIS MN 55474-0508 | Class R4 | 100.00% | N/A (a) | |
Class R5 | 100.00% | |||
COR CLEARING LLC 1200 LANDMARK CENTER, STE 800 OMAHA NE 68102-1916 | Class B | 8.59% | N/A | |
FIRST CLEARING LLC SPECIAL CUSTODY ACCT FOR THE EXCLUSIVE BENEFIT OF CUSTOMER 2801 MARKET ST SAINT LOUIS MO 63103-2523 | Class A | 5.13% | N/A | |
Class B | 22.53% | |||
Class C | 9.35% |
Statement of Additional Information – December 1, 2015 | 234 |
Table of Contents
Fund | Shareholder Name and Address | Share Class | Percentage of Class | Percentage of Fund (if greater than 25%) |
MERRILL LYNCH PIERCE FENNER & SMITH FOR THE SOLE BENEFIT OF ITS CUSTOMERS 4800 DEER LAKE DR E FL 2 JACKSONVILLE FL 32246-6484 | Class B | 40.81% | N/A | |
Class C | 33.28% | |||
Class Z | 67.20% | |||
MORGAN STANLEY SMITH BARNEY HARBORSIDE FINANCIAL CENTER PLAZA 2, 3RD FLOOR JERSEY CITY NJ 07311 | Class A | 6.76% | N/A | |
Class C | 10.73% | |||
NATIONAL FINANCIAL SERVICES LLC FEBO CUSTOMERS MUTUAL FUNDS 200 LIBERTY STREET 1WFC NEW YORK NY 10281-1003 | Class C | 5.19% | N/A | |
RBC CAPITAL MARKETS, LLC MUTUAL FUND OMNIBUS PROCESSING OMNIBUS ATTN MUTUAL FUND OPS MANAGER 510 MARQUETTE AVE S MINNEAPOLIS MN 55402-1110 | Class C | 7.04% | N/A | |
UBS WM USA OMNI ACCOUNT M/F ATTN: DEPARTMENT MANAGER 1000 HARBOR BLVD WEEHAWKEN NJ 07086-6761 | Class Z | 22.64% | N/A | |
Strategic Income Fund | ACTION FABRICATORS INC TTEE FBO ACTION FABRICATORS INC PSP 401K C/O FASCORE LLC 8515 E ORCHARD GREENWOOD VLG CO 80111-5002 | Class R | 7.05% | N/A |
AMERICAN ENTERPRISE INVESTMENT SVC 707 2ND AVE S MINNEAPOLIS MN 55402-2405 | Class A | 41.27% | 27.84% | |
Class B | 25.01% | |||
Class C | 22.77% | |||
BRICS & CO FBO FRESH MARK HOURLY 340 S CLEVELAND AVE 1ST FL WESTERVILLE OH 43081-8917 | Class Y | 30.88% | N/A | |
BRICS & CO FBO FRESH MARK SALARIED 340 S CLEVELAND AVE 1ST FL WESTERVILLE OH 43081-8917 | Class Y | 54.05% | N/A | |
CAPITAL BANK & TRUST COMPANY TTE FB CONCRETE PROTECTION & RESTOR INC RE C/O FASCORE LLC 8515 E ORCHARD RD # 2T2 GREENWOOD VLG CO 80111-5002 | Class R | 10.69% | N/A | |
CAPITAL BANK & TRUST COMPANY TTEE F NEW ENGLAND BUSINESS TR SEC 401K PL 8515 E ORCHARD RD # 2T2 GREENWOOD VLG CO 80111-5002 | Class R | 22.55% | N/A | |
CHARLES SCHWAB & CO INC CUST A/C FOR THE EXCLUSIVE BENEFIT ATTENTION MUTUAL FUND 101 MONTGOMERY ST SAN FRANCISCO CA 94104-4151 | Class K | 46.38% | N/A | |
Class R5 | 11.44% | |||
COLUMBIA MGMT INVESTMENT ADVSR LLC ATTN KATRINA MACBAIN 50807 AMERIPRISE FINANCIAL CTR MINNEAPOLIS MN 55474-0508 | Class K | 6.35% | N/A (a) | |
Class W | 100.00% |
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Fund | Shareholder Name and Address | Share Class | Percentage of Class | Percentage of Fund (if greater than 25%) |
DCGT AS TTEE AND/OR CUST FBO PLIC VARIOUS RETIREMENT PLANS OMNIBUS ATTN NPIO TRADE DESK 711 HIGH ST DES MOINES IA 50392-0001 | Class R | 7.87% | N/A | |
FIRST CLEARING LLC SPECIAL CUSTODY ACCT FOR THE EXCLUSIVE BENEFIT OF CUSTOMER 2801 MARKET ST SAINT LOUIS MO 63103-2523 | Class B | 18.28% | N/A | |
Class C | 9.71% | |||
Class K | 47.26% | |||
GEORGE SHEANSHANG TTEE FBO GEORGE SHEANSHANG ESQ BSSC MASTER C/O FASCORE LLC 8515 E ORCHARD RD # 2T2 GREENWOOD VLG CO 80111-5002 | Class R | 10.55% | N/A | |
GREAT-WEST TRUST COMPANY LLC TTEE F EMPLOYEE BENEFITS CLIENTS 401K 8515 E ORCHARD GREENWOOD VLG CO 80111-5002 | Class R5 | 8.32% | N/A | |
Class Y | 14.47% | |||
MERRILL LYNCH PIERCE FENNER & SMITH FOR THE SOLE BENEFIT OF ITS CUSTOMERS ATTN FUND ADMINISTRATION 4800 DEER LAKE DR E FL 2 JACKSONVILLE FL 32246-6484 | Class A | 5.40% | 25.54% | |
Class C | 20.06% | |||
Class Z | 73.41% | |||
Class B | 19.32% | |||
Class R | 6.85% | |||
Class R4 | 21.39% | |||
MG TRUST COMPANY CUST. FBO CITY PLUMBING & ELECTRIC SUPPL 717 17TH ST STE 1300 DENVER CO 80202-3304 | Class R5 | 6.12% | N/A | |
MID ATLANTIC TRUST COMPANY FBO COACTIV 401 K PROFIT SHARING PLAN & TRUST 1251 WATERFRONT PL STE 525 PITTSBURGH PA 15222-4228 | Class R | 5.08% | N/A | |
MORGAN STANLEY SMITH BARNEY HARBORSIDE FINANCIAL CENTER PLAZA 2, 3RD FLOOR JERSEY CITY NJ 07311 | Class C | 6.11% | N/A | |
NATIONAL FINANCIAL SERVICES LLC FEBO CUSTOMERS MUTUAL FUNDS 200 LIBERTY STREET 1WFC NEW YORK NY 10281-1003 | Class A | 5.88% | N/A | |
Class R4 | 18.99% | |||
PERSHING LLC 1 PERSHING PLZ JERSEY CITY NJ 07399-0002 | Class C | 5.18% | N/A | |
Class R4 | 46.23% | |||
Class R5 | 48.85% | |||
STATE STREET CORPORATION FBO ADP ACCESS 1 LINCOLN ST BOSTON MA 02111-2901 | Class R4 | 11.94% | N/A | |
TD AMERITRADE INC FOR THE EXCLUSIVE BENEFIT OF OUR CLIENTS PO BOX 2226 OMAHA NE 68103-2226 | Class R5 | 7.95% | N/A | |
UBS WM USA OMNI ACCOUNT M/F ATTN: DEPARTMENT MANAGER 1000 HARBOR BLVD WEEHAWKEN NJ 07086-6761 | Class C | 6.40% | N/A |
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Fund | Shareholder Name and Address | Share Class | Percentage of Class | Percentage of Fund (if greater than 25%) |
Real Estate Equity Fund | AMERICAN ENTERPRISE INVESTMENT SVC 707 2ND AVE S MINNEAPOLIS MN 55402-2405 | Class A | 42.74% | N/A |
Class B | 40.17% | |||
Class C | 16.89% | |||
Class W | 88.92% | |||
ASCENSUS TRUST COMPANY FBO GOLDEN GAMING INC 401 K PLAN PO BOX 10758 FARGO ND 58106-0758 | Class R | 10.30% | N/A | |
ASCENSUS TRUST COMPANY FBO ROSENTHAL ROSENTHAL RASCO KAPLAN PO BOX 10758 FARGO ND 58106-0758 | Class R4 | 8.53% | N/A | |
CAPITAL BANK & TRUST CO TTEE F PARK AVE MOTOR CORP 401K SVGS PL 8515 E ORCHARD RD # 2T2 GREENWOOD VLG CO 80111-5002 | Class R | 14.67% | N/A | |
CHARLES SCHWAB & CO INC CUST A/C FOR THE EXCLUSIVE BENEFIT ATTENTION MUTUAL FUNDS 101 MONTGOMERY ST SAN FRANCISCO CA 94104-4151 | Class K | 51.06% | N/A | |
Class R5 | 22.34% | |||
Class Z | 18.27% | |||
COLUMBIA MGMT INVESTMENT ADVSR LLC ATTN KATRINA MACBAIN 50807 AMERIPRISE FINANCIAL CTR MINNEAPOLIS MN 55474-0508 | Class K | 9.61% | N/A (a) | |
Class W | 11.08% | |||
FIRST CLEARING LLC 2801 MARKET ST SAINT LOUIS MO 63103-2523 | Class K | 39.32% | N/A | |
Class C | 9.24% | |||
JPMCB NA CUST FOR COLUMBIA ADAPATIVE ALTERNATIVES FUND-REITS SLEEVE 14201 N DALLAS PKWY FL 13 DALLAS TX 75254-2916 | Class I | 9.29% | N/A | |
JPMCB NA CUST FOR COLUMBIA LIFEGOAL GROWTH PORTFOLIO 14201 N DALLAS PKWY FL 13 DALLAS TX 75254-2916 | Class I | 54.11% | N/A | |
JPMCB NA CUST FOR COLUMBIA RISK ALLOCATION FUND 14201 N DALLAS PKWY FL 13 DALLAS TX 75254-2916 | Class I | 36.59% | N/A | |
LPL FINANCIAL FBO CUSTOMER ACCOUNTS 9785 TOWNE CENTRE DR SAN DIEGO CA 92121-1968 | Class C | 7.83% | N/A | |
MLPF&S FOR THE SOLE BENEFIT OF ITS CUSTOMERS ATTN FUND ADMINISTRATION 4800 DEER LAKE DRIVE EAST 3RD FL JACKSONVILLE FL 32246-6484 | Class C | 17.24% | 27.03% | |
Class R | 24.11% | |||
Class Z | 42.42% | |||
MID ATLANTIC TRUST COMPANY FBO GENE O NEILL AND COMPANY P C 401(K 1251 WATERFRONT PL STE 525 PITTSBURGH PA 15222-4228 | Class R4 | 5.20% | N/A |
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Fund | Shareholder Name and Address | Share Class | Percentage of Class | Percentage of Fund (if greater than 25%) |
NATIONAL FINANCIAL SERVICES LLC FEBO CUSTOMERS MUTUAL FUNDS 200 LIBERTY STREET 1WFC NEW YORK NY 10281-1003 | Class R4 | 62.96% | N/A | |
Class R5 | 61.75% | |||
PAI TRUST COMPANY INC FRANK HIRSCH SUBELSKY & FREEDMAN 1300 ENTERPRISE DR DE PERE WI 54115-4934 | Class R4 | 5.63% | N/A | |
PERSHING LLC 1 PERSHING PLZ JERSEY CITY NJ 07399-0002 | Class B | 7.78% | N/A | |
Class R4 | 13.60% | |||
RAYMOND JAMES FBO OMNIBUS FOR MUTUAL FUNDS HOUSE ACCT FIRM ATTN: COURTNEY WALLER 880 CARILLON PKWY ST PETERSBURG FL 33716-1100 | Class C | 8.43% | N/A | |
TD AMERITRADE TRUST COMPANY ATTN HOUSE PO BOX 17748 DENVER CO 80217-0748 | Class R5 | 11.22% | N/A |
(a) | Combination of all share classes of Columbia Management initial capital and/or affiliated funds-of-funds’ investments. |
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‘AAA’ ratings denote the lowest expectation of credit risk. They are assigned only in cases of exceptionally strong capacity for payment of financial commitments. This capacity is highly unlikely to be adversely affected by foreseeable events.
‘AA’ ratings denote expectations of very low credit risk. They indicate very strong capacity for payment of financial commitments. This capacity is not significantly vulnerable to foreseeable events.
‘A’ ratings denote expectations of low credit risk. The capacity for payment of financial commitments is considered strong. This capacity may, nevertheless, be more vulnerable to adverse business or economic conditions than is the case for higher ratings.
‘BBB’ ratings indicate that expectations of credit risk are currently low. The capacity for payment of financial commitments is considered adequate but adverse business or economic conditions are more likely to impair this capacity.
‘BB’ ratings indicate an elevated vulnerability to credit risk, particularly in the event of adverse changes in business or economic conditions over time; however, business or financial alternatives may be available to allow financial commitments to be met.
‘B’ ratings indicate that material credit risk is present.
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‘CCC’ ratings indicate that substantial credit risk is present.
‘CC’ ratings indicate very high levels of credit risk.
‘C’ indicates exceptionally high levels of credit risk.
Indicates the strongest intrinsic capacity for timely payment of financial commitments; may have an added “+” to denote any exceptionally strong credit feature.
Good intrinsic capacity for timely payment of financial commitments.
The intrinsic capacity for timely payment of financial commitments is adequate.
Minimal capacity for timely payment of financial commitments, plus heightened vulnerability to near term adverse changes in financial and economic conditions.
Default is a real possibility.
Indicates an entity that has defaulted on one or more of its financial commitments, although it continues to meet other financial obligations. Typically applicable to entity ratings only.
Indicates a broad-based default event for an entity, or the default of a short-term obligation.
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■ | Independence — A nominee who is deemed an affiliate of the company by virtue of a material business, familial or other relationship with the company but is otherwise not an employee. |
■ | Attendance — A nominee who failed to attend at least 75% of the board’s meetings. |
■ | Over Boarding — A nominee who serves on more than four other public company boards or an employee director nominee who serves on more than two other public company boards. |
■ | Committee Membership — A nominee who has been assigned to the audit, compensation, nominating, or governance committee if that nominee is not independent of management, or if the nominee does not meet the specific independence and experience requirements for audit committees or the independence requirements for compensation committees. |
■ | Audit Committee Chair — A nominee who serves as audit committee chair where the committee failed to put forth shareholder proposals for ratification of auditors. |
■ | Board Independence — A nominee of a company whose board as proposed to be constituted would have more than one-third of its members from management. |
■ | Interlocking Directorship — A nominee who is an executive officer of another company on whose board one of the company’s executive officers sits. |
■ | Poor Governance — A nominee involved with options backdating, financial restatements or material weakness in controls, approving egregious compensation, or who has consistently disregarded the interests of shareholders. |
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■ | the inability or perceived inability of a government authority to collect sufficient tax or other revenues to meet its payment obligations; |
■ | natural disasters and ecological or environmental concerns; |
■ | the introduction of constitutional or statutory limits on a tax-exempt issuer’s ability to raise revenues or increase taxes; |
■ | the inability of an issuer to pay interest on or to repay principal or securities in which the funds invest during recessionary periods; and |
■ | economic or demographic factors that may cause a decrease in tax or other revenues for a government authority or for private operators of publicly financed facilities. |
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Columbia AMT-Free Georgia Intermediate Muni Bond Fund
Columbia AMT-Free Maryland Intermediate Muni Bond Fund
Columbia AMT-Free North Carolina Intermediate Muni Bond Fund
Columbia AMT-Free South Carolina Intermediate Muni Bond Fund
Columbia AMT-Free Virginia Intermediate Muni Bond Fund
Columbia Capital Allocation Moderate Aggressive Portfolio
Columbia Capital Allocation Moderate Conservative Portfolio
Columbia Convertible Securities Fund
Columbia Global Strategic Equity Fund
Columbia International Opportunities Fund
Columbia International Value Fund
Columbia Large Cap Enhanced Core Fund
Columbia Large Cap Growth Fund II
Columbia Large Cap Growth Fund III
Columbia Large Cap Growth Fund V
Columbia Large Cap Index Fund
Columbia Mid Cap Index Fund
Columbia Mid Cap Value Fund
Columbia Overseas Value Fund
Columbia Select Global Growth Fund
Columbia Select International Equity Fund
Columbia Select Large Cap Equity Fund
Columbia Short Term Bond Fund
Columbia Short Term Municipal Bond Fund
Columbia Small Cap Index Fund
Columbia Small Cap Value Fund II
Active Portfolios® Multi-Manager Core Plus Bond Fund
Active Portfolios® Multi-Manager Growth Fund
Active Portfolios® Multi-Manager Small Cap Equity Fund
CMG Ultra Short Term Bond Fund
Columbia Adaptive Alternatives Fund
Columbia Adaptive Risk Allocation Fund
Columbia AMT-Free Connecticut Intermediate Muni Bond Fund
Columbia AMT-Free Intermediate Muni Bond Fund
Columbia AMT-Free Massachusetts Intermediate Muni Bond Fund
Columbia AMT-Free New York Intermediate Muni Bond Fund
Columbia AMT-Free Oregon Intermediate Muni Bond Fund
Columbia Balanced Fund
Columbia Bond Fund
Columbia California Tax-Exempt Fund
Columbia Contrarian Core Fund
Columbia Diversified Absolute Return Fund
Columbia Diversified Real Return Fund
Columbia Dividend Income Fund
Columbia Emerging Markets Fund
Columbia Global Dividend Opportunity Fund
Columbia Global Energy and Natural Resources Fund
Columbia Global Inflation-Linked Bond Plus Fund
Columbia Global Technology Growth Fund
Columbia Global Unconstrained Bond Fund
Columbia Greater China Fund
Columbia High Yield Municipal Fund
Columbia Intermediate Bond Fund
Columbia Large Cap Growth Fund
Columbia Mid Cap Growth Fund
Columbia Multi-Asset Income Fund
Columbia New York Tax-Exempt Fund
Columbia Pacific/Asia Fund
Columbia Real Estate Equity Fund
Columbia Select Large Cap Growth Fund
Columbia Small Cap Core Fund
Columbia Small Cap Growth Fund I
Columbia Small Cap Value Fund I
Columbia Strategic Income Fund
Columbia Tax-Exempt Fund
Columbia U.S. Social Bond Fund
Columbia U.S. Treasury Index Fund
Columbia Value and Restructuring Fund
Columbia Absolute Return Currency and Income Fund
Columbia AMT-Free Tax-Exempt Bond Fund
Columbia Asia Pacific ex-Japan Fund
Columbia Capital Allocation Aggressive Portfolio
Columbia Capital Allocation Conservative Portfolio
Columbia Capital Allocation Moderate Portfolio
Columbia Commodity Strategy Fund
Columbia Disciplined Core Fund
Columbia Disciplined Growth Fund
Columbia Disciplined Value Fund
Columbia Diversified Equity Income Fund
Columbia Dividend Opportunity Fund
Columbia Emerging Markets Bond Fund
Columbia European Equity Fund
Columbia Flexible Capital Income Fund
Columbia Floating Rate Fund
Columbia Global Bond Fund
Columbia Global Equity Value Fund
Columbia Global Infrastructure Fund
Columbia Global Opportunities Fund
Columbia High Yield Bond Fund
Columbia Income Builder Fund
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Columbia Inflation Protected Securities Fund
Columbia Large Cap Growth Fund IV
Columbia Limited Duration Credit Fund
Columbia Minnesota Tax-Exempt Fund
Columbia Money Market Fund
Columbia Mortgage Opportunities Fund
Columbia Multi-Advisor Small Cap Value Fund
Columbia Select Large-Cap Value Fund
Columbia Select Smaller-Cap Value Fund
Columbia Seligman Communications and Information Fund
Columbia Seligman Global Technology Fund
Columbia Short-Term Cash Fund
Columbia Small/Mid Cap Value Fund
Columbia U.S. Government Mortgage Fund
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■ | Individual or joint accounts; |
■ | Roth and traditional Individual Retirement Accounts (IRAs), Simplified Employee Pension accounts (SEPs), Savings Investment Match Plans for Employees of Small Employers accounts (SIMPLEs) and Tax Sheltered Custodial Accounts (TSCAs); |
■ | Uniform Gifts to Minors Act (UGMA)/Uniform Transfers to Minors (UTMA) accounts for which you, your spouse, or your domestic partner is parent or guardian of the minor child; |
■ | Revocable trust accounts for which you or an immediate family member, individually, is the beneficial owner/grantor; |
■ | Accounts held in the name of your, your spouse’s, or your domestic partner’s sole proprietorship or single owner limited liability company or S corporation; |
■ | Qualified retirement plan assets, provided that you are the sole owner of the business sponsoring the plan, are the sole participant (other than a spouse) in the plan, and have no intention of adding participants to the plan; and |
■ | Investments in wrap accounts; |
■ | Accounts of pension and retirement plans with multiple participants, such as 401(k) plans (which are combined to reduce the sales charge for the entire pension or retirement plan and therefore are not used to reduce the sales charge for your individual accounts); |
■ | Accounts invested in Class I, Class K, Class R and/or Class Y shares of the Funds; |
■ | Retirement plan accounts invested in Class R4 and/or Class R5 shares; |
■ | Investments in 529 plans, donor advised funds, variable annuities, variable life insurance products, or managed separate accounts; |
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■ | Charitable and irrevocable trust accounts; |
■ | Accounts holding shares of money market Funds that used the Columbia brand before May 1, 2010; and |
■ | Direct purchases of Columbia Money Market Fund shares. (Shares of Columbia Money Market Fund acquired by exchange from other Funds may be combined for letter of intent purposes.) |
■ | Current or retired fund Board members, officers or employees of the funds or Columbia Management or its affiliates(a); |
■ | Current or retired Ameriprise Financial Services, Inc. (Ameriprise Financial Services) financial advisors and employees of such financial advisors(a); |
■ | Registered representatives and other employees of affiliated or unaffiliated selling agents (and their immediate family members and related trusts or other entities owned by the foregoing) having a selling agreement with the Distributor(a); |
■ | Registered broker-dealer firms that have entered into a dealer agreement with the Distributor may buy Class A shares without paying a front-end sales charge for their investment account only; |
■ | Portfolio managers employed by subadvisers of the funds(a); |
■ | Partners and employees of outside legal counsel to the funds or the funds’ directors or trustees who regularly provide advice and services to the funds, or to their directors or trustees; |
■ | Direct rollovers (i.e., rollovers of fund shares and not reinvestments of redemption proceeds) from qualified employee benefit plans, provided that the rollover involves a transfer to Class A shares in the same fund; |
■ | Employees of Bank of America, its affiliates and subsidiaries; |
■ | Employees or partners of Columbia Wanger Asset Management, LLC and Marsico Capital Management, LLC (or their successors); |
■ | (For Class T shares only) Shareholders who (i) bought Galaxy fund Retail A shares at net asset value and received Class T shares in exchange for those shares during the Galaxy/Liberty fund reorganization; and (ii) continue to maintain the account in which the Retail A shares were originally bought; and Boston 1784 fund shareholders on the date that those funds were reorganized into Galaxy funds; |
■ | Separate accounts established and maintained by an insurance company which are exempt from registration under Section 3(c)(11); |
■ | At a fund’s discretion, front-end sales charges may be waived for shares issued in plans of reorganization, such as mergers, asset acquisitions and exchange offers, to which the fund is a party; |
■ | In the Distributor’s discretion, on (i) purchases (including exchanges) of Class A shares in accounts of selling agents that have entered into agreements with the Distributor to offer fund shares to self-directed investment brokerage accounts that may or may not charge a transaction fee to customers and (ii) exchanges of Class Z shares of a fund for Class A shares of the fund; and |
■ | Purchases by registered representatives and employees (and their immediate family members and related trusts or other entities owned by the foregoing (referred to as “Related Persons”)) of Ameriprise Financial Services and its affiliates; provided that with respect to employees (and their Related Persons) of an affiliate of Ameriprise, such persons must make purchases through an account held at Ameriprise or its affiliates. |
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■ | Participants of “eligible employee benefit plans” including 403(b) plans for which Ameriprise Financial Services serves as broker-dealer, and the school district or group received a written proposal from Ameriprise Financial Services between November 1, 2007 and December 31, 2008 (each a Qualifying 403(b) Plan). In order for participants in one of these 403(b) plans to receive this waiver, at least one participant account of the 403(b) plan must have been funded at Ameriprise Financial Services prior to December 31, 2009. This waiver may be discontinued for any Qualifying 403(b) Plan, in the sole discretion of the Distributor. |
■ | With dividend or capital gain distributions from a fund or from the same class of another fund(b); |
■ | Through or under a wrap fee product or other investment product sponsored by a selling agent that charges an account management fee or other managed agency/asset allocation accounts or programs involving fee-based compensation arrangements that have or that clear trades through a selling agent that has a selling agreement with the Distributor; |
■ | Through state sponsored college savings plans established under Section 529 of the Internal Revenue Code; |
■ | Through banks, trust companies and thrift institutions, acting as fiduciaries; and |
■ | Through “employee benefit plans” created under section 401(a), 401(k), 457 and 403(b), and qualified deferred compensation plans, that have a plan level or omnibus account maintained with the fund or the Transfer Agent and transacts directly with the fund or the Transfer Agent through a third party administrator or third party recordkeeper. |
(a) | Including their spouses or domestic partners, children or step-children, parents, step-parents or legal guardians, and their spouse’s or domestic partner’s parents, step-parents, or legal guardians. |
(b) | The ability to invest dividend and capital gain distributions from one Fund to another Fund may not be available to accounts held at all Selling Agents. |
■ | In the event of the shareholder’s death; |
■ | For which no sales commission or transaction fee was paid to an authorized selling agent at the time of purchase; |
■ | Purchased through reinvestment of dividend and capital gain distributions; |
■ | In an account that has been closed because it falls below the minimum account balance; |
■ | That result from required minimum distributions taken from retirement accounts upon the shareholder’s attainment of age 70½; |
■ | That result from returns of excess contributions made to retirement plans or individual retirement accounts, so long as the selling agent returns the applicable portion of any commission paid by the Distributor; |
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■ | Of Class A shares of a fund initially purchased by an employee benefit plan; |
■ | Other than Class A shares of a fund initially purchased by an employee benefit plan that are not connected with a plan level termination; |
■ | In connection with the fund’s Small Account Policy (as described in the applicable prospectus); and |
■ | At a fund’s discretion, issued in connection with plans of reorganization, including but not limited to mergers, asset acquisitions and exchange offers, to which the fund is a party. |
■ | In the event of the shareholder’s death; and |
■ | That result from required minimum distributions taken from retirement accounts upon the shareholder’s attainment of age 70½. |
■ | By health savings accounts sponsored by third party platforms, including those sponsored by Bank of America affiliates.* |
■ | For medical payments that exceed 7.5% of income.* |
■ | To pay for insurance by an individual who has separated from employment and who has received unemployment compensation under a federal or state program for at least twelve weeks.* |
■ | Occurring pursuant to a Systematic Withdrawal Plan (SWP) established with the Transfer Agent, to the extent that the sales do not exceed, on an annual basis, 12% of the account’s value as long as distributions are reinvested. Otherwise, a CDSC will be charged on SWP sales until this requirement is met. |
■ | For shares purchased prior to September 7, 2010, CDSCs may be waived on sales after the sole shareholder on an individual account or a joint tenant on a joint tenant account becomes disabled (as defined by Section 72(m)(7) of the Code). To be eligible for such a waiver: (i) the disability must arise after the account is opened and (ii) a letter from a physician must be signed under penalty of perjury stating the nature of the disability. If the account is transferred to a new registration and then shares are sold, the applicable CDSC will be charged.* |
■ | Shares redeemed in connection with loans from qualified retirement plans to shareholders.* |
■ | CDSCs may be waived on shares (except for Class B shares) sold by certain group retirement plans held in omnibus accounts. However, CDSCs may not be waived for Class C shares if the waiver would occur as a result of a plan-level termination. |
■ | Shares redeemed in connection with distributions from qualified retirement plans, government (Section 457) plans, individual retirement accounts or custodial accounts under Section 403(b)(7) of the Code following normal retirement or the attainment of 59½.** |
* | Fund investors and Selling Agents must inform the Fund or the Transfer Agent in writing that the Fund investor qualifies for the particular sales charge waiver and provide proof thereof. |
** | For direct trades on non-prototype retirement accounts where the date of birth of the shareholder is not maintained, the shareholder or Selling Agent must inform the Fund or the Transfer Agent in writing that the Fund investor qualifies for the particular sales charge waiver and provide proof thereof. |
■ | Redemptions of Class B shares of a series of CFST II held in investment-only accounts (i.e., accounts for which Ameriprise Trust Company does not act as the custodian) at Ameriprise Financial Services on behalf of a trust for an employee benefit plan. |
■ | Redemptions of Class B shares of a series of CFST II held in individual retirement accounts or certain qualified plans, on or prior to June 12, 2009, such as Keogh plans, tax-sheltered custodial accounts or corporate pension plans where Ameriprise Trust Company is acting as custodian, provided that the shareholder is (i) at least 59½ years old and taking a retirement distribution (if the sale is part of a transfer to an individual retirement account or qualified plan, or a custodian-to-custodian transfer, the CDSC will not be waived* or (ii) selling under an approved substantially equal periodic payment arrangement. |
■ | Class B shares of a series of CFST II held in individual retirement accounts and certain qualified plans where an Ameriprise Financial affiliate acts as selling agent that were purchased prior to September 7, 2010 and sold under an approved |
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* | You must notify the Fund or the Transfer Agent prior to redeeming shares of the applicability of the CDSC waiver, but final decision of the applicability of the CDSC waiver is contingent on approval of the Fund or the Transfer Agent. |
** | Fund investors and selling and/or servicing agents must inform the Fund or the Transfer Agent in writing that the Fund investor qualifies for the particular sales charge waiver and provide proof thereof. |
■ | Any persons employed as of April 30, 2010 by the Previous Adviser, Previous Distributor or Previous Transfer Agent and immediate family members of any of the foregoing who share the same address and any employee of the Investment Manager, Distributor or Transfer Agent and immediate family members of any of the foregoing who share the same address and are eligible to make new and subsequent purchases in Class Z shares through an individual retirement account. If you maintain your account with a financial intermediary, you must contact that financial intermediary each time you seek to purchase shares to notify them that you qualify for Class Z shares. |
■ | Any client of Bank of America or one of its subsidiaries buying shares through an asset management company, trust, fiduciary, retirement plan administration or similar arrangement with Bank of America or the subsidiary. |
■ | Any employee (or family member of an employee) of Bank of America or one of its subsidiaries. |
■ | Any investor buying shares through a Columbia Management state tuition plan organized under Section 529 of the Internal Revenue Code. |
■ | Any trustee or director (or family member of a trustee or director) of a fund distributed by the Distributor. |
■ | Any persons employed as of April 30, 2010 by the Previous Adviser, Previous Distributor or Previous Transfer Agent and immediate family members of any of the foregoing who share the same address and any employee of the Investment Manager, Distributor or Transfer Agent and immediate family members of any of the foregoing who share the same address and are eligible to make new and subsequent purchases in Class Z shares through a non-retirement account. If you maintain your account with a financial intermediary, you must contact that financial intermediary each time you seek to purchase shares to notify them that you qualify for Class Z shares. |
Statement of Additional Information – December 1, 2015 | S-5 |
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■ | Class B shares are converted on or about the 15th day of the month that they become eligible for conversion. For purposes of determining the month when your Class B shares are eligible for conversion, the start of the holding period is the first day of the month in which your purchase was made. |
■ | Any shares you received from reinvested distributions on these shares generally will convert to Class A shares at the same time. |
■ | You’ll receive the same dollar value of Class A shares as the Class B shares that were converted. Class B shares that you received from an exchange of Class B shares of another fund will convert based on the day you bought the original shares. |
■ | No sales charge or other charges apply, and conversions are free from U.S. federal income tax. |
■ | Class F shares are converted on or about the 15th day of the month that they become eligible for conversion. For purposes of determining the month when your Class F shares are eligible for conversion, the start of the holding period is the first day of the month in which your purchase was made. |
■ | Any shares you received from reinvested distributions on these shares generally will convert to Class E shares at the same time. |
■ | You’ll receive the same dollar value of Class E shares as the Class F shares that were converted. Class F shares that you received from an exchange of Class F shares of another Fund will convert based on the day you bought the original shares. |
■ | No sales charge or other charges apply, and conversions are free from U.S. federal income tax. |
* | The Funds no longer accept investments from new or existing investors in Class E or Class F shares, except by existing Class E and/ or Class F shareholders who opened and funded their account prior to September 22, 2006 that may continue to invest in Class E and/or Class F shares. See the prospectus offering Class E and Class F shares of Large Cap Growth Fund for details. |
Statement of Additional Information – December 1, 2015 | S-6 |
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Statement of Additional Information – December 1, 2015 | S-7 |
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Appendix B – Pro forma financial statements of Columbia Contrarian Core Fund, Columbia Large Cap Growth Fund, Columbia Select Smaller-Cap Value Fund, Columbia Overseas Value Fund and Columbia Select International Equity Fund
NARRATIVE DESCRIPTION OF THE PRO FORMA EFFECTS OF THE REORGANIZATIONS
The unaudited pro forma information set forth below for the twelve month periods ended on the dates indicated is intended to present supplemental data as if the reorganizations of one or more funds (each a “Selling Fund” and together, the “Selling Funds”) into other corresponding funds (each a “Buying Fund” and together, the “Buying Funds”), as noted in Table 1 below (the “Reorganizations”), had occurred as of the beginning of the period (unless otherwise noted). No Reorganization is contingent upon any other Reorganization. Information has not been presented for any Reorganizations involving a Selling Fund the net assets of which were less than 10% of the net assets of the corresponding Buying Fund as of November 30, 2015, except for Columbia Large Cap Growth Fund IV, which had net assets of approximately 5% of the net assets of the corresponding Buying Fund as of November 30, 2015.
Table 1 – Reorganizations
Selling Fund | Buying Fund | Period Ended | ||
Columbia Value and Restructuring Fund | Columbia Contrarian Core Fund | 8/31/2015 | ||
Columbia Large Cap Growth Fund II | Columbia Large Cap Growth Fund | 7/31/2015 | ||
Columbia Large Cap Growth Fund III | Columbia Large Cap Growth Fund | 7/31/2015 | ||
Columbia Large Cap Growth Fund IV | Columbia Large Cap Growth Fund | 7/31/2015 | ||
Columbia Large Cap Growth Fund V | Columbia Large Cap Growth Fund | 7/31/2015 | ||
Columbia Multi-Advisor Small Cap Value Fund | Columbia Select Smaller-Cap Value Fund | 11/30/2015 | ||
Columbia International Value Fund | Columbia Overseas Value Fund | 8/31/2015 | ||
Columbia International Opportunities Fund | Columbia Select International Equity Fund | 8/31/2015 |
Basis of Combination
In December 2015, the Boards of Trustees of the Selling Funds approved an Agreement and Plan of Reorganization (the “Plan of Reorganization”) pursuant to which, subject to shareholder approval, each Selling Fund will transfer all of its assets to the corresponding Buying Fund in exchange for shares of the corresponding Buying Fund (“Reorganization Shares”) and each Buying Fund will assume all of the liabilities of the corresponding Selling Fund. Selling Fund shareholders will receive the class of Reorganization Shares indicated in Table 2 below. Each Buying Fund will issue Reorganization Shares with an aggregate net asset value equal to the aggregate value of the assets that it receives from the corresponding Selling Fund, less the liabilities it assumes from the corresponding Selling Fund. All Reorganization Shares delivered to the Selling Funds will be delivered at net asset value without a sales load, commission or other similar fee being imposed. Immediately following the transfer, the Reorganization Shares received by each Selling Fund attributable to each class thereof will be distributed pro rata, on what is expected to be a tax-free basis for U.S. federal income tax purposes, to the shareholders of such class of the Selling Fund in proportion to their holdings of shares of the Selling Fund.
Table 2 – Reorganization Shares
Selling Fund Share Class | Reorganization Share Class | |||||
Class A | g | Class A | ||||
Class B | g | Class B | ||||
Class C | g | Class C | ||||
Class I | g | Class I | ||||
Class K | g | Class K | ||||
Class R | g | Class R | ||||
Class R4 | g | Class R4 | ||||
Class R5 | g | Class R5 | ||||
Class W | g | Class W | ||||
Class Y | g | Class Y | ||||
Class Z | g | Class Z |
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Under the terms of the Plan of Reorganization, each Reorganization will be accounted for by the method of accounting for tax-free mergers of investment companies. Following the Reorganizations, the Buying Funds will be the accounting survivors. In accordance with accounting principles generally accepted in the United States, the historical cost of investment securities will be carried forward to the surviving funds and the results of operations for pre-Reorganization periods will not be restated. The costs of the Reorganizations, current estimates of which are set forth in Table 5 below, will be borne by the Selling Funds and the Buying Funds (each a “Fund” and collectively, the “Funds”) up to the amount of the anticipated reduction in expenses borne by that Fund over the first year following the Reorganization. Any Reorganization expenses otherwise allocable to a Fund that are in excess of that limitation will be borne by Columbia Management Investment Advisers, LLC (“Columbia Threadneedle”) or its affiliates and not by any other Fund. If a Reorganization is not consummated, Columbia Threadneedle or its affiliates will bear the costs associated with that Reorganization. The pro forma information provided herein should be read in conjunction with the audited financial statements of the Funds included in their most recent annual reports and, as applicable, the unaudited financial statements of the Funds included in their most recent semi-annual reports, in each case dated as indicated in Table 3 below.
Table 3 – Shareholder Report Dates
Fund | Annual Report | Semi-Annual Report | ||
Columbia Contrarian Core Fund (Buying Fund) | 8/31/2015 | N/A | ||
Columbia Value and Restructuring Fund (Selling Fund) | 8/31/2015 | N/A | ||
Columbia Large Cap Growth Fund (Buying Fund) | 7/31/2015 | N/A | ||
Columbia Large Cap Growth Fund II (Selling Fund) | 2/28/2015 | 8/31/2015 | ||
Columbia Large Cap Growth Fund III (Selling Fund) | 2/28/2015 | 8/31/2015 | ||
Columbia Large Cap Growth Fund IV (Selling Fund) | 8/31/2015 | N/A | ||
Columbia Large Cap Growth Fund V (Selling Fund) | 2/28/2015 | 8/31/2015 | ||
Columbia Select Smaller-Cap Value Fund (Buying Fund) | 5/31/2015 | 11/30/2015 | ||
Columbia Multi-Advisor Small Cap Value Fund (Selling Fund) | 5/31/2015 | 11/30/2015 | ||
Columbia Overseas Value Fund (Buying Fund) | 2/28/2015 | 8/31/2015 | ||
Columbia International Value Fund (Selling Fund) | 2/28/2015 | 8/31/2015 | ||
Columbia Select International Equity Fund (Buying Fund) | 2/28/2015 | 8/31/2015 | ||
Columbia International Opportunities Fund (Selling Fund) | 2/28/2015 | 8/31/2015 |
Table 4 below presents, as of the date indicated, the net assets of each Fund.
Table 4 – Selling Funds and Buying Funds Net Assets
Fund | Net Assets | As-Of Date | ||||
Columbia Contrarian Core Fund (Buying Fund) | $ | 6,190,683,777 | 8/31/2015 | |||
Columbia Value and Restructuring Fund (Selling Fund) | $ | 1,620,396,278 | 8/31/2015 | |||
Columbia Large Cap Growth Fund (Buying Fund) | $ | 3,579,453,840 | 7/31/2015 | |||
Columbia Large Cap Growth Fund II (Selling Fund) | $ | 980,635,486 | 7/31/2015 | |||
Columbia Large Cap Growth Fund III (Selling Fund) | $ | 1,015,481,021 | 7/31/2015 | |||
Columbia Large Cap Growth Fund IV (Selling Fund) | $ | 182,850,955 | 7/31/2015 | |||
Columbia Large Cap Growth Fund V (Selling Fund) | $ | 1,508,719,812 | 7/31/2015 | |||
Columbia Select Smaller-Cap Value Fund (Buying Fund) | $ | 479,704,076 | 11/30/2015 | |||
Columbia Multi-Advisor Small Cap Value Fund (Selling Fund)) | $ | 339,765,604 | 11/30/2015 | |||
Columbia Overseas Value Fund (Buying Fund) | $ | 638,414,971 | 8/31/2015 | |||
Columbia International Value Fund (Selling Fund) | $ | 172,119,191 | 8/31/2015 | |||
Columbia Select International Equity Fund (Buying Fund) | $ | 542,015,173 | 8/31/2015 | |||
Columbia International Opportunities Fund (Selling Fund) | $ | 106,285,892 | 8/31/2015 |
The number of Reorganizations into each Buying Fund that occur will affect the net assets and total annual operating expenses of the Buying Fund and the costs of each Reorganization. Table 5 presents the estimated Reorganization costs (exclusive of any transaction costs associated with any portfolio realignment); the net assets as of the date indicated in Table 4 above of each Buying Fund assuming the indicated Reorganizations occurred on that date, after accounting for the estimated Reorganization costs to be borne by the Buying Fund and the corresponding Selling Fund; and, on a pro forma basis, the estimated relative increases or decreases in combined operating expenses that would have been incurred during the one-year period ended on the date indicated in Table 4 above, assuming in each case that (1) certain, but not all, of the Reorganizations into each Buying Fund are consummated or (2) that all of the
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Reorganizations into each Buying Fund are consummated. Specifically, the table presents information assuming (a) the combination of Reorganizations into each Buying Fund that results in the highest possible total annual operating expense ratio are consummated, and (b) all of the Reorganizations into each Buying Fund, which results in the lowest possible total annual operating expense ratio. The pro forma increases and decreases represent the differences between (i) the combined expenses actually charged to the Buying Fund and the Selling Fund during the period and (ii) the expenses that would have been charged to the combined assets of the Buying and Selling Funds if the Reorganizations and other contractual changes had occurred at the beginning of the year.
The unaudited pro forma information set forth in Table 5 below reflects adjustments made to expenses for differences in contractual rates, duplicate services and other services that would not have occurred if the Reorganizations had taken place on the first day of the period described in Table 1 above. The pro forma information has been derived from the books and records of the Funds utilized in calculating daily net asset value for the Funds and has been prepared in accordance with accounting principles generally accepted in the United States, which require the use of management estimates. Actual results could differ from those estimates.
Table 5 – Estimated Reorganization Costs, Combined Fund Net Assets and Pro Forma Increases or Decreases in Expenses (1)
Proposal 1 - Columbia Value and Restructuring Fund into Columbia Contrarian Core | ||||
Estimated Reorganization Costs | $ | 446,321 | ||
Combined Fund Net Assets as of the Date Indicated in Table 4 | $ | 7,810,633,734 | ||
Increase (Decrease) | ||||
Management fees (2) | ($ | 2,353,886 | ) | |
Custodian fees (3) | ($ | 11,852 | ) | |
Professional fees (3) | ($ | 59,872 | ) | |
Registration fees (3) | ($ | 97,210 | ) | |
Reports to shareholders (3) | ($ | 104,454 | ) | |
Other (3) | ($ | 72,124 | ) | |
(Increase) Decrease | ||||
Waiver and/or reimbursement of fund expenses (4) | $ | 361,365 |
Proposal 2 - Columbia Large Cap Growth Fund II, | Highest Annual Operating Expense Ratio (the Reorganization of only Columbia Large Cap Growth Fund IV) | Lowest Annual Operating Expense Ratio (the Reorganization of all of the Selling Funds) | ||||||
Estimated Reorganization Costs | $ | 67,714 | $ | 347,425 | ||||
Combined Fund Net Assets as of the Date Indicated in Table 4 | $ | 3,762,237,081 | $ | 7,266,783,689 | ||||
Increase (Decrease) | Increase (Decrease) | |||||||
Management fees (2) | ($ | 353,206 | ) | ($ | 5,402,072 | ) | ||
Custodian fees (3) | ($ | 6,798 | ) | ($ | 31,188 | ) | ||
Professional fees (3) | ($ | 28,634 | ) | ($ | 116,681 | ) | ||
Registration fees (3) | ($ | 78,173 | ) | ($ | 396,101 | ) | ||
Reports to shareholders (3) | ($ | 12,427 | ) | ($ | 446,158 | ) | ||
Other (3) | ($ | 16,455 | ) | ($ | 92,752 | ) | ||
(Increase) Decrease | (Increase) Decrease | |||||||
Waiver and/or reimbursement of fund expenses (4) | $ | 0 | $ | 114,602 |
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Proposal 3 - Columbia Multi-Advisor Small Cap Value Fund into Columbia Select | ||||
Estimated Reorganization Costs | $ | 169,047 | ||
Combined Fund Net Assets as of the Date Indicated in Table 4 | $ | 819,300,633 | ||
Increase (Decrease) | ||||
Management fees (2) | ($ | 825,956 | ) | |
Custodian fees (3) | ($ | 1,939 | ) | |
Professional fees (3) | ($ | 27,716 | ) | |
Registration fees (3) | ($ | 89,232 | ) | |
Reports to shareholders (3) | ($ | 65,000 | ) | |
Other (3) | ($ | 21,925 | ) | |
(Increase) Decrease | ||||
Waiver and/or reimbursement of fund expenses (4) | $ | 652,420 |
Proposal 4 - Columbia International Value Fund into Columbia Overseas Value Fund | ||||
Estimated Reorganization Costs | $ | 134,147 | ||
Combined Fund Net Assets as of the Date Indicated in Table 4 | $ | 810,400,015 | ||
Increase (Decrease) | ||||
Management fees (2) | ($ | 138,191 | ) | |
Custodian fees (3) | ($ | 48,653 | ) | |
Professional fees (3) | ($ | 58,681 | ) | |
Registration fees (3) | ($ | 78,138 | ) | |
Reports to shareholders (3) | ($ | 29,530 | ) | |
Other (3) | ($ | 18,735 | ) | |
(Increase) Decrease | ||||
Waiver and/or reimbursement of fund expenses (4) | $ | 57,713 | ||
Proposal 5 - Columbia International Opportunities Fund into Columbia Select International | ||||
Estimated Reorganization Costs | $ | 5,094 | ||
Combined Fund Net Assets as of the Date Indicated in Table 4 | $ | 648,295,971 | ||
Increase (Decrease) | ||||
Management fees (2) | ($ | 82,886 | ) | |
Custodian fees (3) | ($ | 21,784 | ) | |
Professional fees (3) | ($ | 58,834 | ) | |
Registration fees (3) | ($ | 63,139 | ) | |
Reports to shareholders (3) | ($ | 20,487 | ) | |
Other (3) | ($ | 16,723 | ) | |
(Increase) Decrease | ||||
Waiver and/or reimbursement of fund expenses (4) | $ | 246,823 |
(1) | See “Fees and Expenses” in the Proxy Statement/Prospectus for more information. |
(2) | Management fees reflect the combination of advisory and administrative services fees under one agreement providing for a single management fee. |
(3) | Adjustment reflects the elimination of duplicative services. |
(4) | Adjustment reflects the aggregate (increase) decrease in expense reimbursements and/or waivers by Columbia Threadneedle and its affiliates. |
Table 6 – Management Fees (Combined Investment Management and Administration Fees)
Pursuant to a Management Agreement with Columbia Threadneedle, each Fund pays a monthly management fee to Columbia Threadneedle for investment management and administrative services based on the average daily net assets of the Fund, at the annual rates shown in Table 6 below.
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Fund | Assets (millions) | Annual Rate at Each Asset Level (Current) | Annual Rate at | |||||
Columbia Contrarian Core Fund (Buying Fund) | $0 - $500 | 0.770 | % | Same as Current | ||||
>$500 - $1,000 | 0.720 | % | ||||||
>$1,000 - $1,500 | 0.670 | % | ||||||
>$1,500 - $3,000 | 0.620 | % | ||||||
>$3,000 - $6,000 | 0.600 | % | ||||||
>$6,000 - $12,000 | 0.580 | % | ||||||
>$12,000 | 0.570 | % | ||||||
Columbia Value and Restructuring Fund (Selling Fund) | $0 - $500 | 0.750 | % | N/A | ||||
>$500 - $1,000 | 0.740 | % | ||||||
>$1,000 - $1,500 | 0.670 | % | ||||||
>$1,500 - $3,000 | 0.620 | % | ||||||
>$3,000 - $6,000 | 0.600 | % | ||||||
>$6,000 - $12,000 | 0.580 | % | ||||||
>$12,000 | 0.570 | % | ||||||
Columbia Large Cap Growth Fund (Buying Fund) | $0 - $500 | 0.770 | % | Same as Current | ||||
and Columbia Large Cap Growth Fund II (Selling Fund) | >$500 - $1,000 | 0.720 | % | |||||
and Columbia Large Cap Growth Fund III (Selling Fund) | >$1,000 - $1,500 | 0.670 | % | |||||
and Columbia Large Cap Growth Fund IV (Selling Fund) | >$1,500 - $3,000 | 0.620 | % | |||||
and Columbia Large Cap Growth Fund V (Selling Fund) | >$3,000 - $6,000 | 0.600 | % | |||||
>$6,000 - $12,000 | 0.580 | % | ||||||
>$12,000 | 0.570 | % | ||||||
Columbia Select Smaller-Cap Value Fund (Buying Fund) | $0 - $500 | 0.870 | % | Same as Current | ||||
>$500 - $1,000 | 0.820 | % | ||||||
>$1,000 - $3,000 | 0.770 | % | ||||||
>$3,000 - $12,000 | 0.760 | % | ||||||
>$12,000 | 0.750 | % | ||||||
Columbia Multi-Advisor Small Cap Value Fund (Selling Fund) | $0 - $250 | 1.050 | % | N/A | ||||
>$250 - $500 | 1.025 | % | ||||||
>$500 - $750 | 0.995 | % | ||||||
>$750 - $1,000 | 0.970 | % | ||||||
>$1,000 - $3,000 | 0.940 | % | ||||||
>$3,000 - $12,000 | 0.930 | % | ||||||
>$12,000 | 0.920 | % | ||||||
Columbia Overseas Value Fund (Buying Fund) | $0 - $500 | 0.870 | % | Same as Current | ||||
and Columbia International Value Fund (Selling Fund) | >$500 - $1,000 | 0.820 | % | |||||
>$1,000 - $1,500 | 0.770 | % | ||||||
>$1,500 - $3,000 | 0.720 | % | ||||||
>$3,000 - $6,000 | 0.700 | % | ||||||
>$6,000 - $12,000 | 0.680 | % | ||||||
>$12,000 | 0.670 | % | ||||||
Columbia Select International Equity Fund (Buying Fund) | $0 - $500 | 0.870 | % | Same as Current | ||||
and Columbia International Opportunities Fund (Selling Fund) | >$500 - $1,000 | 0.820 | % | |||||
>$1,000 - $1,500 | 0.770 | % | ||||||
>$1,500 - $3,000 | 0.720 | % | ||||||
>$3,000 - $6,000 | 0.700 | % | ||||||
>$6,000 - $12,000 | 0.680 | % | ||||||
>$12,000 | 0.670 | % |
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Columbia Management Investment Services Corp., an affiliate of Columbia Threadneedle, is the transfer agent for each Fund. Columbia Management Investment Distributors, Inc., an affiliate of Columbia Threadneedle, is the distributor for each Fund.
No significant accounting policies will change as the result of the proposed Reorganizations.
The estimated costs of the Reorganizations shown in Table 5 above do not reflect any brokerage commissions incurred by a Fund in connection with any portfolio realignment. Columbia Threadneedle expects that, subsequent to the Reorganizations, there may be some portfolio realignment of the Buying Funds (of securities acquired from the Selling Funds). However, Columbia Threadneedle expects that any such portfolio realignment will not result in any significant increase in a Buying Fund’s portfolio turnover rate, relative to its historical portfolio turnover rates. Columbia Threadneedle also does not expect any incremental trading costs to be significant.
Federal Income Taxes
Please see “Tax Status of the Reorganizations” in the Proxy Statement/Prospectus for a discussion of the tax effects of each Reorganization.
It is each Fund’s policy to comply with the requirements of the Internal Revenue Code applicable to regulated investment companies and to eliminate a fund-level tax, and therefore to distribute at least annually all of its investment company taxable income, its net-tax exempt interest income, if any, and its net realized capital gains, if any, to shareholders. After the Reorganizations, the Buying Funds intend to continue to comply with these requirements to qualify as regulated investment companies that pay no fund-level tax.
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COLUMBIA FUNDS SERIES TRUST I
PART C
OTHER INFORMATION
PART C. OTHER INFORMATION
Item 15. | Indemnification |
Article Five of the Bylaws of Registrant provides that Registrant shall indemnify each of its trustees and officers (including persons who serve at Registrant’s request as directors, officers or trustees of another organization in which Registrant has any interest as a shareholder, creditor or otherwise) who are not employees or officers of any investment adviser to Registrant or any affiliated person thereof and its chief compliance officer, regardless of whether such person is an employee or officer of any investment adviser to Registrant or any affiliated person thereof, and may indemnify each of its trustees and officers (including persons who serve at Registrant’s request as directors, officers or trustees of another organization in which Registrant has any interest as a shareholder, creditor or otherwise) (i.e., those who are employees or officers of any investment adviser to Registrant or any affiliated person thereof) (Covered Persons) under specified circumstances, all as more fully set forth in the Registrant’s Bylaws, which have been filed as an exhibit to this registration statement.
Section 17(h) of the Investment Company Act of 1940 (1940 Act) provides that no instrument pursuant to which Registrant is organized or administered shall contain any provision which protects or purports to protect any trustee or officer of Registrant against any liability to Registrant or its shareholders to which he or she would otherwise be subject by reason of willful misfeasance, bad faith, gross negligence, or reckless disregard of the duties involved in the conduct of his or her office. In accordance with
Section 17(h) of the 1940 Act, no Covered Person is indemnified under the Bylaws against any liability to Registrant or its shareholders by reason of willful misfeasance, bad faith, gross negligence, or reckless disregard of the duties involved in the conduct of the Covered Person’s office.
Pursuant to the Distribution Agreement, Columbia Management Investment Distributors, Inc. agrees to indemnify the Registrant, its officers and trustees against claims, demands, liabilities and expenses under specified circumstances, all as more fully set forth in the Registrant’s Distribution Agreement, which has been filed as an exhibit to the registration statement. The Registrant may be party to other contracts that include indemnification provisions for the benefit of the Registrant’s trustees and officers.
The trustees and officers of the Registrant and the personnel of the Registrant’s investment adviser and principal underwriter are insured under an errors and omissions liability insurance policy. Registrant’s investment adviser, Columbia Management Investment Advisers, LLC, maintains investment advisory professional liability insurance to insure it, for the benefit of Registrant and its non-interested trustees, against loss arising out of any effort, omission, or breach of any duty owed to Registrant or any series of Registrant by Columbia Management Investment Advisers, LLC.
Insofar as indemnification for liabilities arising under the Securities Act of 1933 may be permitted to trustees, officers and controlling persons of the Registrant by the Registrant pursuant to the Registrant’s organizational instruments or otherwise, the Registrant is aware that in the opinion of the Securities and Exchange Commission, such indemnification is against public policy as expressed in the Securities Act of 1933 and, therefore, is unenforceable.
Item 16. | Exhibits |
(1) | (a)(i) Second Amended and Restated Agreement and Declaration of Trust, dated August 10, 2005, is incorporated by reference to Post-Effective Amendment No. 40 to Registration Statement No. 2-99356 of the Registrant on Form N-1A (Exhibit (a)(1)), filed on September 16, 2005. | |
(1) | (a)(ii) Amendment No. 1 to Second Amended and Restated Agreement and Declaration of Trust, effective September 19, 2005, is incorporated by reference to Post-Effective Amendment No. 40 to Registration Statement No. 2-99356 of the Registrant on Form N-1A (Exhibit (a)(2)), filed on September 16, 2005. | |
(2) | Amended and Restated By-laws of Registrant, effective October 20, 2015, are incorporated by reference to Post-Effective Amendment No. 248 to Registration Statement No. 2-99356 of the Registrant on Form N-1A (Exhibit (b)), filed on December 22, 2015. |
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(3) | Not applicable. | |
(4) | Agreement and Plan of Reorganization is filed electronically herewith. | |
(5) | Articles III and V of the Registrant’s Second Amended and Restated Declaration of Trust dated August 10, 2005 define the rights of holders of securities being registered. | |
(6) | (a)(i) Investment Management Services Agreement by and between Columbia Management Investment Advisers, LLC and Registrant, dated as of May 1, 2010 (the Multi-Fund Investment Management Services Agreement), is incorporated by reference to Post-Effective Amendment No. 105 to Registration Statement No. 2-99356 of the Registrant on Form N-1A (Exhibit (d)(1)), filed on May 28, 2010. | |
(6) | (a)(ii) Restated Schedule A, effective July 1, 2015, to the Multi-Fund Investment Management Services Agreement, dated May 1, 2010, is incorporated by reference to Post-Effective Amendment No. 231 to Registration Statement No. 2-99356 of the Registrant on Form N-1A (Exhibit (d)(1)(i)), filed on June 29, 2015. | |
(6) | (a)(iii) Amendment No. 1 to the Multi-Fund Investment Management Services Agreement by and between Columbia Management Investment Advisers, LLC and Registrant, dated as of February 28, 2011, is incorporated by reference to Post-Effective Amendment No. 2 to Registration Statement No. 333-170367 of the Registrant on Form N-14 (Exhibit (6)(c)), filed on July 22, 2011. | |
(6) | (a)(iv) Amendment No. 2 to the Multi-Fund Investment Management Services Agreement by and between Columbia Management Investment Advisers, LLC and Registrant, dated as of March 14, 2012, is incorporated by reference to Post-Effective Amendment No. 143 to Registration Statement No. 2-99356 of the Registrant on Form N-1A (Exhibit (d)(2)(iii)), filed on March 14, 2012. | |
(6) | (a)(v) Amendment No. 3 to the Multi-Fund Investment Management Services Agreement by and between Columbia Management Investment Advisers, LLC and Registrant, dated as of June 18, 2012, is incorporated by reference to Post-Effective Amendment No. 153 to Registration Statement No. 2-99356 of the Registrant on Form N-1A (Exhibit (d)(2)(iv)), filed on June 15, 2012. | |
(6) | (b) Investment Management Services Agreement by and between Columbia Management Investment Advisers, LLC and Registrant, dated as of May 1, 2010 (for CMG Ultra Short Term Bond Fund), is incorporated by reference to Post-Effective Amendment No. 105 to Registration Statement No. 2-99356 of the Registrant on Form N-1A (Exhibit (d)(2)), filed on May 28, 2010. | |
(6) | (c)(i) Management Agreement between Columbia Management Investment Advisers, LLC and Registrant, effective July 1, 2015, is incorporated by reference to Post-Effective Amendment No. 231 to Registration Statement No. 2-99356 of the Registrant on Form N-1A (Exhibit (d)(3)), filed on June 29, 2015. | |
(6) | (c)(ii) Restated Schedule A and Schedule B, as of January 1, 2016, to the Management Agreement between Columbia Management Investment Advisers, LLC and the Registrant, effective July 1, 2015, are incorporated by reference to Post-Effective Amendment No. 248 to Registration Statement No. 2-99356 of the Registrant on Form N-1A (Exhibit (d)(3)(i)), filed on December 22, 2015. | |
(6) | (d)(i) Management Agreement between Columbia Management Investment Advisers, LLC and Registrant, effective June 16, 2015, is incorporated by reference to Post-Effective Amendment No. 231 to Registration Statement No. 2-99356 of the Registrant on Form N-1A (Exhibit (d)(4)), filed on June 29, 2015. | |
(d)(ii) Schedule A, and Schedule B, effective June 16, 2015, to the Management Agreement between Columbia Management Investment Advisers, LLC and Registrant, effective June 16, 2015, are incorporated by reference to Post-Effective Amendment No. 231 to Registration Statement No. 2-99356 of the Registrant on Form N-1A (Exhibit (d)(4)(i)), filed on June 29, 2015. | ||
(6) | (e)(i) Subadvisory Agreement between Columbia Management Investment Advisers, LLC and AQR Capital Management, LLC dated March 7, 2012, is incorporated by reference to Post-Effective Amendment No. 196 to Registration Statement No. 2-99356 of the Registrant on Form N-1A (Exhibit (d)(3)), filed on May 30, 2014. | |
(6) | (e)(ii) Addendum dated March 7, 2012 to the Subadvisory Agreement dated March 7, 2012 between Columbia Management Investment Advisers, LLC and AQR Capital Management, LLC on behalf of Active Portfolios Multi-Manager Alternatives Strategies Fund, is incorporated by reference to Post-Effective Amendment No. 196 to Registration Statement No. 2-99356 of the Registrant on Form N-1A (Exhibit (d)(3)(1)), filed on May 30, 2014. |
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(6) | (f)(i) Subadvisory Agreement between Columbia Management Investment Advisers, LLC and Dalton, Greiner, Hartman, Maher & Co., LLC dated March 7, 2012, is incorporated by reference to Post-Effective Amendment No. 196 to Registration Statement No. 2-99356 of the Registrant on Form N-1A (Exhibit (d)(4)), filed on May 30, 2014. | |
(6) | (f)(ii) Amendment No. 1, dated June 10, 2015, to the Subadvisory Agreement between Columbia Management Investment Advisers, LLC and Dalton, Greiner, Hartman, Maher & Co., LLC dated March 7, 2012, is incorporated by reference to Post-Effective Amendment No. 231 to Registration Statement No. 2-99356 of the Registrant on Form N-1A (Exhibit (d)(6)(i)), filed on June 29, 2015. | |
(6) | (g) Subadvisory Agreement between Columbia Management Investment Advisers, LLC and EAM Investors, LLC dated March 7, 2012, is incorporated by reference to Post-Effective Amendment No. 196 to Registration Statement No. 99356 of the Registrant on Form N-1A (Exhibit (d)(5)), filed on May 30, 2014. | |
(6) | (h) Subadvisory Agreement between Columbia Management Investment Advisers, LLC and Federated Investment Management Company dated March 7, 2012, is incorporated by reference to Post-Effective Amendment No. 196 to Registration Statement No. 2-99356 of the Registrant on Form N-1A (Exhibit (d)(6)), filed on May 30, 2014. | |
(6) | (i)(i) Subadvisory Agreement between Columbia Management Investment Advisers, LLC and TCW Investment Management Company dated February 6, 2013, last amended January 24, 2014, is incorporated by reference to Post-Effective Amendment No. 196 to Registration Statement No. 2-99356 of the Registrant on Form N-1A (Exhibit (d)(7)), filed on May 30, 2014. | |
(6) | (i)(ii) Addendum – Authorization to Enter Into Over-The-Counter And/Or Exchange Traded Derivatives between Columbia Management Investment Advisers, LLC and TCW Investment Management Company dated March 7, 2012, is incorporated by reference to Post-Effective Amendment No. 196 to Registration Statement No. 2-99356 of the Registrant on Form N-1A (Exhibit (d)(7)(1)), filed on May 30, 2014. | |
(6) | (j)(i) Subadvisory Agreement among Columbia Management Investment Advisers, LLC and Threadneedle International Limited dated March 5, 2014, is incorporated by reference to Post-Effective Amendment No. 236 to Registration Statement No. 2-99356 of the Registrant on Form N-1A (Exhibit (d)(10)), filed on August 26, 2015. | |
(6) | (j)(ii) Amendment No. 1, dated December 19, 2014, to the Subadvisory Agreement, between Columbia Management Investment Advisers, LLC and Threadneedle International Limited, is incorporated by reference to Post-Effective Amendment No. 236 to Registration Statement No. 2-99356 of the Registrant on Form N-1A (Exhibit (d)(10)(i)), filed on August 26, 2015. | |
(6) | (j)(iii) Amendment No. 2, dated March 4, 2015, to the Subadvisory Agreement between Columbia Management Investment Advisers, LLC and Threadneedle International Limited, is incorporated by reference to Post-Effective Amendment No. 236 to Registration Statement No. 2-99356 of the Registrant on Form N-1A (Exhibit (d)(10)(ii)), filed on August 26, 2015. | |
(6) | (j)(iv) Amendment No. 3, dated June 10, 2015, to the Subadvisory Agreement between Columbia Management Investment Advisers, LLC and Threadneedle International Limited, is incorporated by reference to Post-Effective Amendment No. 236 to Registration Statement No. 2-99356 of the Registrant on Form N-1A (Exhibit (d)(10)(iii)), filed on August 26, 2015. | |
(6) | (j)(v) Addendum, dated December 19, 2014, to the Subadvisory Agreement, dated March 5, 2014, between Columbia Management Investment Advisers, LLC and Threadneedle International Limited, pertaining to CDARF1 Offshore Fund Ltd., a subsidiary of Columbia Diversified Absolute Return Fund, is incorporated by reference to Post-Effective Amendment No. 236 to Registration Statement No. 2-99356 of the Registrant on Form N-1A (Exhibit (d)(10)(iv)), filed on August 26, 2015. | |
(6) | (j)(vi) Addendum, dated December 19, 2014, to the Subadvisory Agreement, dated March 5, 2014, between Columbia Management Investment Advisers, LLC and Threadneedle International Limited, pertaining to CDARF2 Offshore Fund Ltd., a subsidiary of Columbia Diversified Absolute Return Fund, is incorporated by reference to Post-Effective Amendment No. 236 to Registration Statement No. 2-99356 of the Registrant on Form N-1A (Exhibit (d)(10)(v)), filed on August 26, 2015. |
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(6) | (j)(vii) Addendum, dated December 19, 2014, to the Subadvisory Agreement, dated March 5, 2014, between Columbia Management Investment Advisers, LLC and Threadneedle International Limited, pertaining to CDARF3 Offshore Fund Ltd., a subsidiary of Columbia Diversified Absolute Return Fund, is incorporated by reference to Post-Effective Amendment No. 236 to Registration Statement No. 2-99356 of the Registrant on Form N-1A (Exhibit (d)(10)(vi)), filed on August 26, 2015. | |
(6) | (j)(vii) Addendum, dated December 19, 2014, to the Subadvisory Agreement, dated March 5, 2014, between Columbia Management Investment Advisers, LLC and Threadneedle International Limited, pertaining to CDARF3 Offshore Fund Ltd., a subsidiary of Columbia Diversified Absolute Return Fund, is incorporated by reference to Post-Effective Amendment No. 236 to Registration Statement No. 2-99356 of the Registrant on Form N-1A (Exhibit (d)(10)(vi)), filed on August 26, 2015. | |
(6) | (j)(viii) Addendum, dated December 19, 2014, to the Subadvisory Agreement, dated March 5, 2014, between Columbia Management Investment Advisers, LLC and Threadneedle International Limited, pertaining to CAAF Offshore Fund Ltd., a subsidiary of Columbia Adaptive Alternatives Fund, is incorporated by reference to Post-Effective Amendment No. 236 to Registration Statement No. 2-99356 of the Registrant on Form N-1A (Exhibit (d)(10)(vii)), filed on August 26, 2015. | |
(6) | (k) Subadvisory Agreement among Columbia Management Investment Advisers, LLC and Wasatch Advisors, Inc. dated March 7, 2012, is incorporated by reference to Post-Effective Amendment No. 196 to Registration Statement No. 2-99356 of the Registrant on Form N-1A (Exhibit (d)(8)), filed on May 30, 2014. | |
(6) | (l) Subadvisory Agreement between Columbia Management Investment Advisers, LLC and Water Island Capital, LLC dated March 7, 2012, is incorporated by reference to Post-Effective Amendment No. 196 to Registration Statement No. 2-99356 of the Registrant on Form N-1A (Exhibit (d)(9)), filed on May 30, 2014. | |
(6) | (m) Delegation Agreement dated March 7, 2012 between Dalton, Greiner, Hartman, Maher & Co. LLC, and Real Estate Management Services Group, LLC, is incorporated by reference to Post-Effective Amendment No. 196 to Registration Statement No. 2-99356 of the Registrant on Form N-1A (Exhibit (d)(10)), filed on May 30, 2014. | |
(6) | (n) Subadvisory Agreement between Columbia Management Investment Advisers, LLC and Conestoga Capital Advisors, LLC dated June 11, 2014, is incorporated by reference to Post-Effective Amendment No. 205 to Registration Statement No. 2-99356 of the Registrant on Form N-1A (Exhibit (d)(11)), filed on August 28, 2014. | |
(6) | (o) Subadvisory Agreement between Columbia Management Investment Advisers, LLC and Loomis, Sayles and Company, L.P. dated December 4, 2013, is incorporated by reference to Post-Effective Amendment No. 196 to Registration Statement No. 2-99356 of the Registrant on Form N-1A (Exhibit (d)(12)), filed on May 30, 2014. | |
(6) | (p) Subadvisory Agreement between Columbia Management Investment Advisers, LLC and BMO Asset Management Corp. dated October 20, 2015, is incorporated by reference to Post-Effective Amendment No. 243 to Registration Statement No. 2-99356 of the Registrant on Form N-1A (Exhibit (d)(16)), filed on October 26, 2015. | |
(6) | (q) Management Agreement between Columbia Management Investment Advisers, LLC and CAAF Offshore Fund, Ltd., a subsidiary of Columbia Adaptive Alternatives Fund, effective October 1, 2015, is incorporated by reference to Post-Effective Amendment No. 239 to Registration Statement No. 2-99356 of the Registrant on Form N-1A (Exhibit (d)(18)), filed on September 28, 2015. | |
(6) | (r) Management Agreement between Columbia Management Investment Advisers, LLC and CDARF1 Offshore Fund, Ltd., a subsidiary of Columbia Diversified Absolute Return Fund, effective October 1, 2015, is incorporated by reference to Post-Effective Amendment No. 239 to Registration Statement No. 2-99356 of the Registrant on Form N-1A (Exhibit (d)(19)), filed on September 28, 2015. | |
(6) | (s) Management Agreement between Columbia Management Investment Advisers, LLC and CDARF2 Offshore Fund, Ltd., a subsidiary of Columbia Diversified Absolute Return Fund, effective October 1, 2015, is incorporated by reference to Post-Effective Amendment No. 239 to Registration Statement No. 2-99356 of the Registrant on Form N-1A (Exhibit (d)(20)), filed on September 28, 2015. | |
(6) | (t) Management Agreement between Columbia Management Investment Advisers, LLC and CDARF3 Offshore Fund, Ltd., a subsidiary of Columbia Diversified Absolute Return Fund, effective October 1, 2015, is incorporated by reference to Post-Effective Amendment No. 239 to Registration Statement No. 2-99356 of the Registrant on Form N-1A (Exhibit (d)(21)), filed on September 28, 2015. |
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(6) | (u) Management Agreement between Columbia Management Investment Advisers, LLC and ASGM Offshore Fund, Ltd., a subsidiary of Active Portfolios Multi-Manager Alternative Strategies Fund, effective January 1, 2016, is incorporated by reference to Post-Effective Amendment No. 248 to Registration Statement No. 2-99356 of the Registrant on Form N-1A (Exhibit (d)(22)), filed on December 22, 2015. | |
(6) | (v) Management Agreement between Columbia Management Investment Advisers, LLC and ASMF Offshore Fund, Ltd., a subsidiary of Active Portfolios Multi-Manager Alternative Strategies Fund, effective January 1, 2016, is incorporated by reference to Post-Effective Amendment No. 248 to Registration Statement No. 2-99356 of the Registrant on Form N-1A (Exhibit (d)(23)), filed on December 22, 2015. | |
(7) | (a)(i) Distribution Agreement by and between Registrant and Columbia Management Investment Distributors, Inc., dated as of September 7, 2010, is incorporated by reference to Post-Effective Amendment No. 111 to Registration Statement No. 2-99356 of the Registrant on Form N-1A (Exhibit (e)), filed on September 27, 2010. | |
(7) | (a)(ii) Restated Schedule I, dated as of June 10, 2015, to the Distribution Agreement by and between the Registrant and Columbia Management Investment Distributors, Inc., dated as of September 7, 2010, is incorporated by reference to Post-Effective Amendment No. 231 to Registration Statement No. 2-99356 of the Registrant on Form N-1A (Exhibit (e)(2)), filed on June 29, 2015. | |
(7) | (b) Amended and Restated Distribution Plan is incorporated by reference to Post-Effective Amendment No. 190 to Registration Statement No. 2-99356 of the Registrant on Form N-1A (Exhibit (m)(1)), filed on March 10, 2014. | |
(7) | (c) Form of Mutual Fund Sales Agreement is incorporated by reference to Post-Effective Amendment No. 63 to Registration Statement No. 2-72174 of RiverSource Bond Series, Inc. on Form N-1A (Exhibit (e)(2)), filed on July 9, 2010. | |
(8) | Form of Deferred Compensation Agreement is incorporated by reference to Post-Effective Amendment No. 196 to Registration Statement No. 2-99356 of the Registrant on Form N-1A (Exhibit (f)), filed on May 30, 2014. | |
(9) | (a) Second Amended and Restated Master Global Custody Agreement between certain Funds and JP Morgan Chase Bank, N.A., dated March 7, 2011, is incorporated by reference to Post-Effective Amendment No. 124 to Registration Statement No. 2-99356 of the Registrant on Form N-1A (Exhibit (g)(2)), filed on April 29, 2011. | |
(9) | (b) Addendum to Master Global Custody Agreement (related to Active Portfolios Multi-Manager Alternative Strategies Fund, Active Portfolios Multi-Manager Core Plus Bond Fund, Active Portfolios-Multi-Manager Small Cap Equity Fund and Columbia Active Portfolios – Select Large Cap Growth Fund, now known as Active Portfolios-Multi-Manager Growth Fund), dated March 9, 2012, Addendum to Master Global Custody Agreement (related to Columbia Adaptive Risk Allocation Fund), dated June 11, 2012, and Addendum to Master Global Custody Agreement (related to Columbia Diversified Real Return Fund and Columbia Global Inflation Linked-Bond Plus Fund), dated February 25, 2014, are incorporated by reference to Post-Effective Amendment No. 196 to Registration Statement No. 2-99356 of the Registrant on Form N-1A (Exhibit (g)(2)), filed on May 30, 2014. | |
(9) | (c) Addendum to Master Global Custody Agreement (related to Columbia Adaptive Alternatives Fund and Columbia Diversified Absolute Return Fund), dated January 15, 2015, is incorporated by reference to Post-Effective Amendment No. 221 to Registration Statement No. 2-99356 of the Registrant on Form N-1A (Exhibit (g)(3)), filed on February 27, 2015. | |
(9) | (d) Addendum to Master Global Custody Agreement (related to Columbia Multi-Asset Income Fund and Columbia U.S. Social Bond Fund), dated March 18, 2015, is incorporated by reference to Post-Effective Amendment No. 223 to Registration Statement No. 2-99356 of the Registrant on Form N-1A (Exhibit (g)(4)), filed on March 24, 2015. | |
(9) | (e) Side letter (related to the China Connect Service on behalf of Columbia Emerging Markets Fund, Columbia Greater China Fund and Columbia Pacific/Asia Fund), dated December 19, 2014, to the Second Amended and Restated Master Global Custody Agreement with JP Morgan Chase Bank, N.A., dated March 7, 2011, is incorporated by reference to Post-Effective Amendment No. 221 to Registration Statement No. 2-99356 of the Registrant on Form N-1A (Exhibit (g)(4)), filed on February 27, 2015. |
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(10) | (a)(i) Amended and Restated Shareholder Servicing Plan, as of March 4, 2015, for certain Fund share classes of the Registrant, is incorporated by reference to Post-Effective Amendment No. 223 to Registration Statement No. 2-99356 of the Registrant on Form N-1A (Exhibit (m)(2)), filed on March 24, 2015. | |
(10) | (a)(ii) Exhibit I and Exhibit II, effective June 10, 2015, to Amended and Restated Shareholder Servicing Plan, as of March 4, 2015, for certain Fund share classes of the Registrant, are incorporated by reference to Post-Effective Amendment No. 231 to Registration Statement No. 2-99356 of the Registrant on Form N-1A (Exhibit (m)(2)(i)), filed on June 29, 2015. | |
(10) | (b) Amended and Restated Shareholder Services Plan for Registrant’s Class T shares is incorporated by reference to Post-Effective Amendment No. 113 to Registration Statement No. 2-99356 of the Registrant on Form N-1A (Exhibit (m)(3)), filed on November 24, 2010. | |
(10) | (c) Restated Schedule I, effective October 1, 2014, to Shareholder Servicing Plan Implementation Agreement for Registrant’s Class T shares between the Registrant and Columbia Management Investment Distributors, Inc., is incorporated by reference to Post-Effective Amendment No. 207 to Registration Statement No. 2-99356 of the Registrant on Form N-1A (Exhibit (m)(5)), filed on September 26, 2014. | |
(10) | (d) Shareholder Servicing Plan Implementation Agreement for certain Fund share classes of the Registrant between the Registrant, Columbia Funds Series Trust, Columbia Funds Series Trust II and Columbia Management Investment Distributors, Inc., is incorporated by reference to Post-Effective Amendment No. 113 to Registration Statement No. 2-99356 of the Registrant on Form N-1A (Exhibit (m)(4)), filed on November 24, 2010. | |
(10) | (e) Restated Schedule I to Shareholder Servicing Plan Implementation Agreement is incorporated by reference to Post-Effective Amendment No. 143 to Registration Statement No. 2-99356 of the Registrant on Form N-1A (Exhibit (m)(6)), filed on March 14, 2012. | |
(10) | (f) Rule 18f – 3 Multi-Class Plan, amended and restated as of February 19, 2015, is incorporated by reference to Post-Effective Amendment No. 223 to Registration Statement No. 2-99356 of the Registrant on Form N-1A (Exhibit (n)), filed on March 24, 2015. | |
(11) | Opinion and consent of Counsel as to the legality of the securities being registered is filed electronically herewith. | |
(12) | Opinion of Counsel to be filed by amendment. | |
(13) | (a)(i) Administrative Services Agreement by and between Registrant, the other parties listed on Schedule A and Columbia Management Investment Advisers, LLC, dated as of May 1, 2010 with Schedule A dated May 1, 2010, is incorporated by reference to Post-Effective Amendment No. 105 to Registration Statement No. 2-99356 of the Registrant on Form N-1A (Exhibit (h)(1)), filed on May 28, 2010. | |
(13) | (a)(ii) Amendment No. 1 to the Administrative Services Agreement by and among Registrant, the other parties listed on Schedule A and Columbia Management Investment Advisers, LLC, dated as of February 28, 2011, is incorporated by reference to Post-Effective Amendment No. 139 to Registration Statement No. 2-99356 of the Registrant on Form N-1A (Exhibit (h)(1)(i)), filed on January 27, 2012. | |
(13) | (a)(iii) Amendment No. 2 to the Administrative Services Agreement by and among Registrant, the other parties listed on Schedule A thereto and Columbia Management Investment Advisers, LLC, dated as of March 14, 2012, is incorporated by reference to Post-Effective Amendment No. 143 to Registration Statement No. 2-99356 of the Registrant on Form N-1A (Exhibit (h)(1)(iii)), filed on March 14, 2012. | |
(13) | (a)(iv) Amendment No. 3 to the Administrative Services Agreement by and among Registrant, the other parties listed on Schedule A thereto and Columbia Management Investment Advisers, LLC, dated as of June 18, 2012, is incorporated by reference to Post-Effective Amendment No. 153 to Registration Statement No. 2-99356 of the Registrant on Form N-1A (Exhibit (h)(1)(iv)), filed on June 15, 2012. | |
(13) | (a)(v) Amendment No. 4 to the Administrative Services Agreement by and among Registrant, the other parties listed on Schedule A thereto and Columbia Management Investment Advisers, LLC, dated as of April 10, 2013, is incorporated by reference to Post-Effective Amendment No. 173 to Registration Statement No. 2-99356 of the Registrant on Form N-1A (Exhibit (h)(1)(v)), filed on April 30, 2013. |
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(13) | (a)(vi) Restated Schedule A and Schedule B, effective July 1, 2015, to the Administrative Services Agreement, by and between Registrant, the other parties listed on Schedule A, and Columbia Management Investment Advisers, LLC, dated as of May 1, 2010, are incorporated by reference to Post-Effective Amendment No. 231 to Registration Statement No. 2-99356 of the Registrant on Form N-1A (Exhibit (h)(1)(vi)), filed on June 29, 2015. | |
(13) | (b)(i) Amended and Restated Transfer and Dividend Disbursing Agent Agreement by and between the Registrant and Columbia Management Investment Services Corp., dated as of May 24, 2011 with Schedule A dated as of May 24, 2011, is incorporated by reference to Post-Effective Amendment No. 2 to Registration Statement No. 333-170426 of the Registrant on Form N-14 (Exhibit (13)(d)(ii)), filed on July 22, 2011. | |
(13) | (b)(ii) Schedule A and Schedule B, effective October 1, 2015, to the Amended and Restated Transfer and Dividend Disbursing Agent Agreement by and between the Registrant and Columbia Management Investment Services Corp., dated as of May 24, 2011, are incorporated by reference to Post-Effective Amendment No. 245 to Registration Statement No. 2-99356 of the Registrant on Form N-1A (Exhibit (h)(2)(i)), filed on November 23, 2015. | |
(13) | (c) Amended and Restated Credit Agreement, as of December 9, 2014, is incorporated by reference to Post-Effective Amendment No. 225 to Registration Statement No. 2-99356 of the Registrant on Form N-1A (Exhibit (h)(14)), filed on April 16, 2015. | |
(13) | (d) Form of Indemnification Agreement is incorporated by reference to Post-Effective Amendment No. 46 to Registration Statement No. 2-99356 of the Registrant on Form N-1A (Exhibit (h)(6)), filed on March 24, 2006. | |
(13) | (e)(i) Amended and Restated Fee Waiver and Expense Cap Agreement by and among Registrant, Columbia Management Investment Advisers, LLC, Columbia Management Investment Distributors, Inc. and Columbia Management Investment Services Corp., dated June 1, 2011, is incorporated by reference to Post-Effective Amendment No. 2 to Registration Statement No. 333-170426 of the Registrant on Form N-14 (Exhibit (13)(r)(3)), filed on July 22, 2011. | |
(13) | (e)(ii) Restated Schedule A, effective June 10, 2015, to the Amended and Restated Fee Waiver and Expense Cap Agreement by and among Registrant, Columbia Management Investment Advisers, LLC, Columbia Management Investment Distributors, Inc. and Columbia Management Investment Services Corp., is incorporated by reference to Post-Effective Amendment No. 231 to Registration Statement No. 2-99356 of the Registrant on Form N-1A (Exhibit (h)(5)(ii)), filed on June 29, 2015. | |
(13) | (f) Administrative Services Agreement between Columbia Management Investment Advisers, LLC and, ASGM Offshore Fund, Ltd., a subsidiary of Active Portfolios Multi-Manager Alternative Strategies Fund, dated March 14, 2012, is incorporated by reference to Post-Effective Amendment No. 196 to Registration Statement No. 2-99356 of the Registrant on Form N-1A (Exhibit (h)(6)), filed on May 30, 2014. | |
(13) | (g) Administrative Services Agreement between Columbia Management Investment Advisers, LLC and, ASMF Offshore Fund, Ltd., a subsidiary of Active Portfolios Multi-Manager Alternative Strategies Fund, dated March 14, 2012, is incorporated by reference to Post-Effective Amendment No. 196 to Registration Statement No. 2-99356 of the Registrant on Form N-1A (Exhibit (h)(7)), filed on May 30, 2014. | |
(13) | (h)(i) Amended and Restated Plan Administration Services Agreement, dated as of September 7, 2010, amended and restated November 1, 2012, by and among the Registrant, Columbia Funds Series Trust and Columbia Management Investment Services Corp, is incorporated by reference to Post-Effective Amendment No. 165 to Registration Statement No. 2-99356 of the Registrant on Form N-1A (Exhibit (h)(13)), filed on November 7, 2012. | |
(13) | (h)(ii) Exhibit A, Exhibit B and Exhibit C, effective May 1, 2015, to the Amended and Restated Plan Administration Services Agreement among Columbia Management Investment Services Corp., the Registrant and Columbia Funds Series Trust, dated as of September 7, 2010, amended and restated November 1, 2012, relating to Class K shares, is incorporated by reference to Post-Effective Amendment No. 141 to Registration Statement No. 333-89661 of Columbia Funds Series Trust on Form N-1A (Exhibit (h)(3)(i)), filed on May 28, 2015. | |
(13) | (i)(i) Columbia Funds Family Code of Ethics effective April 14, 2014, is incorporated by reference to Post-Effective Amendment No. 196 to Registration Statement No. 2-99356 of the Registrant on Form N-1A (Exhibit (p)(1)), filed on May 30, 2014. |
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(13) | (i)(ii) Columbia Management Investment Advisers, LLC, Columbia Management Investment Distributors, Inc. and Threadneedle International Limited Code of Ethics, effective December 8, 2014, is incorporated by reference to Post-Effective Amendment No. 120 to Registration Statement No. 333-131683 of Columbia Funds Series Trust II on Form N-1A (Exhibit (p)(2)), filed on November 25, 2014. | |
(13) | (i)(iii) Code of Ethics of AQR Capital Management, LLC (a subadviser of Active Portfolios Multi-Manager Alternative Strategies Fund), effective September 13, 2012, is incorporated by reference to Post-Effective Amendment No. 228 to Registration Statement No. 2-99356 of the Registrant on Form N-1A (Exhibit (p)(3)), filed on May 28, 2015. | |
(13) | (i)(iv) Code of Ethics of Dalton, Greiner, Hartman, Maher & Co., LLC (a subadviser of Active Portfolios Multi-Manager Small Cap Equity Fund), revised April 10, 2014, is incorporated by reference to Post-Effective Amendment No. 225 to Registration Statement No. 2-99356 of the Registrant on Form N-1A (Exhibit (p)(4)), filed on April 16, 2015. | |
(13) | (i)(v) Code of Ethics and Standards of Business Conduct of EAM Investors, LLC (a subadviser of Active Portfolios Multi-Manager Small Cap Equity Fund), effective May 27, 2014, is incorporated by reference to Post-Effective Amendment No. 225 to Registration Statement No. 2-99356 of the Registrant on Form N-1A (Exhibit (p)(5)), filed on April 16, 2015. | |
(13) | (i)(vi) Code of Ethics for Access Persons of Federated Investment Management Company (a subadviser of Active Portfolios Multi-Manager Core Plus Bond Fund), effective September 30, 2012, is incorporated by reference to Post-Effective Amendment No. 187 to Registration Statement No. 2-99356 of the Registrant on Form N-1A (Exhibit (p)(6)), filed on December 23, 2013. | |
(13) | (i)(vii) Code of Ethics of TCW Investment Management Company (a subadviser of Active Portfolios Multi-Manager Core Plus Bond Fund), dated March 9, 2015, is incorporated by reference to Post-Effective Amendment No. 228 to Registration Statement No. 2-99356 of the Registrant on Form N-1A (Exhibit (p)(7)), filed on May 28, 2015. | |
(13) | (i)(viii) Code of Ethics of Wasatch Advisors, Inc. (a subadviser of Active Portfolios Multi-Manager Alternative Strategies Fund), effective August 22, 2012, is incorporated by reference to Post-Effective Amendment No. 187 to Registration Statement No. 2-99356 of the Registrant on Form N-1A (Exhibit (p)(9)), filed on December 23, 2013. | |
(13) | (i)(ix) Code of Ethics of Water Island Capital, LLC (a subadviser of Active Portfolios Multi-Manager Alternative Strategies Fund), effective July 1, 2014, is incorporated by reference to Post-Effective Amendment No. 211 to Registration Statement No. 2-99356 of the Registrant on Form N-1A (Exhibit (p)(9)), filed on October 24, 2014. | |
(13) | (i)(x) Code of Ethics of Real Estate Management Services Group, LLC. (provides advisory services as delegated by Dalton, Greiner, Hartman, Maher & Co., LLC, a subadviser of Active Portfolios Multi-Manager Small Cap Equity Fund), is incorporated by reference to Post-Effective Amendment No. 143 to Registration Statement No. 2-99356 of the Registrant on Form N-1A (Exhibit (p)(12)), filed on March 14, 2012. | |
(13) | (i)(xi) Code of Ethics of Conestoga Capital Advisors, LLC (a subadviser of Active Portfolios Multi-Manager Small Cap Equity Fund), effective October 2014, is incorporated by reference to Post-Effective Amendment No. 225 to Registration Statement No. 2-99356 of the Registrant on Form N-1A (Exhibit (p)(11)), filed on April 16, 2015. | |
(13) | (i)(xii) Code of Ethics of Loomis, Sayles and Company, L.P. (subadviser of Active Portfolios Multi-Manager Growth Fund), effective January 14, 2000, last amended December 18, 2014, is incorporated by reference to Post-Effective Amendment No. 225 to Registration Statement No. 2-99356 of the Registrant on Form N-1A (Exhibit (p)(12)), filed on April 16, 2015. | |
(13) | (i)(xiii) Code of Ethics of BMO Asset Management Corp. (a subadviser of Active Portfolios Multi-Manager Small Cap Equity Fund), effective June 4, 2015, is incorporated by reference to Post-Effective Amendment No. 243 to Registration Statement No. 2-99356 of the Registrant on Form N-1A (Exhibit (p)(13)), filed on October 26, 2015. |
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(14) | Consent of Independent Registered Public Accounting Firm (PricewaterhouseCoopers LLP) is filed electronically herewith. | |
(15) | Not applicable. | |
(16) | Trustees Power of Attorney to sign Registration Statement and all amendments hereto is filed electronically herewith. | |
(17) | Not applicable. |
Item 17. | Undertakings |
(1) | The undersigned registrant agrees that prior to any public reoffering of the securities registered through the use of a prospectus which is a part of this registration statement by any person or party who is deemed to be an underwriter within the meaning of Rule 145(c) of the Securities Act, the reoffering prospectus will contain the information called for by the applicable registration form for reofferings by persons who may be deemed underwriters, in addition to the information called for by the other items of the applicable form. |
(2) | The undersigned registrant agrees that every prospectus that is filed under paragraph (1) above will be filed as a part of an amendment to the registration statement and will not be used until the amendment is effective, and that, in determining any liability under the 1933 Act, each post-effective amendment shall be deemed to be a new registration statement for the securities offered therein, and the offering of the securities at that time shall be deemed to be the initial bona fide offering of them. |
(3) | The Registrant undertakes to file the opinion of counsel supporting the tax consequences of the proposed reorganization required by Item 16(12) through an amendment to this Registration Statement no later than a reasonable time after the closing of the transaction. |
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SIGNATURES
As required by the Securities Act of 1933, this Registration Statement has been signed on behalf of the Registrant, Columbia Funds Series Trust I, by the undersigned, duly authorized, in the City of Boston, and The Commonwealth of Massachusetts on the 22nd day of December, 2015.
COLUMBIA FUNDS SERIES TRUST I | ||
By: | /s/ Christopher O. Petersen | |
Name: Title: | Christopher O. Petersen President |
Pursuant to the requirements of the Securities Act of 1933, this Registration Statement has been signed below by the following persons in the capacities indicated on the 22nd day of December, 2015.
Signature | Capacity | Signature | Capacity | |||
/s/ Christopher O. Petersen | President | /s/ David M. Moffett* | Trustee | |||
Christopher O. Petersen | (Principal Executive Officer) | David M. Moffett | ||||
/s/ Michael G. Clarke | Chief Financial Officer | /s/ Charles R. Nelson* | Trustee | |||
Michael G. Clarke | (Principal Financial Officer) Chief Accounting Officer (Principal Accounting Officer) | Charles R. Nelson | ||||
/s/ Douglas A. Hacker* | Chair of the Board | /s/ John J. Neuhauser* | Trustee | |||
Douglas A. Hacker | John J. Neuhauser | |||||
/s/ Janet L. Carrig* | Trustee | /s/ Patrick J. Simpson* | Trustee | |||
Janet L. Carrig | Patrick J. Simpson | |||||
/s/ Nancy T. Lukitsh* | Trustee | /s/ William F. Truscott* | Trustee | |||
Nancy T. Lukitsh | William F. Truscott | |||||
/s/ William E. Mayer* | Trustee | /s/ Anne-Lee Verville* | Trustee | |||
William E. Mayer | Anne-Lee Verville |
* | By: | /s/ Christopher O. Petersen | ||
Name: | Christopher O. Petersen** | |||
Attorney-in-fact |
** | Executed by Christopher O. Petersen on behalf of each of the Trustees pursuant to a Power of Attorney filed herewith. |
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Exhibit Index
Exhibit No. | Description | |
(4) | Agreement and Plan of Reorganization | |
(11) | Opinion and consent of Counsel as to the legality of the securities being registered | |
(14) | Consent of Independent Registered Public Accounting Firm (PricewaterhouseCoopers LLP) | |
(16) | Trustees Power of Attorney to sign this Registration Statement and all amendments hereto |