UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
FORM N-CSR
CERTIFIED SHAREHOLDER REPORT OF REGISTERED MANAGEMENT INVESTMENT COMPANIES
Investment Company Act file number811-04367
Columbia Funds Series Trust I
(Exact name of registrant as specified in charter)
290 Congress Street
Boston, MA 02210
(Address of principal executive offices) (Zip code)
Daniel J. Beckman
c/o Columbia Management Investment Advisers, LLC
290 Congress Street
Boston, MA 02210
Ryan C. Larrenaga, Esq.
c/o Columbia Management Investment Advisers, LLC
290 Congress Street
Boston, MA 02210
(Name and address of agent for service)
Registrant's telephone number, including area code: (800) 345-6611
Date of fiscal year end: October 31
Date of reporting period: October 31, 2021
Form N-CSR is to be used by management investment companies to file reports with the Commission not later than 10 days after the transmission to stockholders of any report that is required to be transmitted to stockholders under Rule 30e-1 under the Investment Company Act of 1940 (17 CFR 270.30e-1). The Commission may use the information provided on Form N-CSR in its regulatory, disclosure review, inspection, and policymaking roles.
A registrant is required to disclose the information specified by Form N-CSR, and the Commission will make this information public. A registrant is not required to respond to the collection of information contained in Form N-CSR unless the Form displays a currently valid Office of Management and Budget ("OMB") control number. Please direct comments concerning the accuracy of the information collection burden estimate and any suggestions for reducing the burden to Secretary, Securities and Exchange Commission, 100 F Street, NE, Washington, DC 20549. The OMB has reviewed this collection of information under the clearance requirements of 44 U.S.C. § 3507.
Item 1. Reports to Stockholders.
October 31, 2021
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Average annual total returns (%) (for the period ended October 31, 2021) | |||||
Inception | 1 Year | 5 Years | 10 Years | ||
Class A | Excluding sales charges | 06/16/86 | 3.61 | 3.24 | 4.54 |
Including sales charges | 0.51 | 2.60 | 4.22 | ||
Advisor Class* | 03/19/13 | 3.82 | 3.51 | 4.77 | |
Class C | Excluding sales charges | 08/01/97 | 3.09 | 2.77 | 4.07 |
Including sales charges | 2.09 | 2.77 | 4.07 | ||
Institutional Class | 09/19/05 | 3.78 | 3.50 | 4.80 | |
Institutional 2 Class* | 03/01/16 | 3.83 | 3.52 | 4.69 | |
Institutional 3 Class* | 03/01/17 | 3.88 | 3.54 | 4.70 | |
Bloomberg California Municipal Bond Index | 2.09 | 3.32 | 4.16 | ||
Bloomberg Municipal Bond Index | 2.64 | 3.41 | 3.88 |
* | The returns shown for periods prior to the share class inception date (including returns for the Life of the Fund, if shown, which are since Fund inception) include the returns of the Fund’s oldest share class. These returns are adjusted to reflect any higher class-related operating expenses of the newer share classes, as applicable. Please visit columbiathreadneedleus.com/investor/investment-products/mutual-funds/appended-performance for more information. |
Columbia Strategic California Municipal Income Fund | Annual Report 2021 | 3 |
Quality breakdown (%) (at October 31, 2021) | |
AAA rating | 1.8 |
AA rating | 39.0 |
A rating | 23.8 |
BBB rating | 16.5 |
BB rating | 1.1 |
D rating | 0.6 |
Not rated | 17.2 |
Total | 100.0 |
4 | Columbia Strategic California Municipal Income Fund | Annual Report 2021 |
Columbia Strategic California Municipal Income Fund | Annual Report 2021 | 5 |
• | The primary factors that contributed to the Fund’s performance during the period were sector and maturity security selection, as well as the Fund’s overweight, relative to the benchmark, to medium and lower quality bonds. |
• | The Fund’s selections in the hospital, education, state general obligation and special tax sectors, along with those in the 12 to 17 and 25 to 30-year maturity ranges, outperformed those in the benchmark. |
• | The Fund’s overweights in the BBB and non-rated categories also contributed positively. |
• | The Fund’s duration was longer than that of the benchmark throughout the period, which was also a positive contributor. |
• | Detractors from Fund performance, relative to the benchmark, during the reporting period included security selection in BBB rated issues and in housing bonds. |
• | An underweighting of toll roads and an overweight to IDR/PCRs (corporate backed bonds) versus the benchmark also weighed on Fund performance during the period. |
6 | Columbia Strategic California Municipal Income Fund | Annual Report 2021 |
(Unaudited)
May 1, 2021 — October 31, 2021 | |||||||
Account value at the beginning of the period ($) | Account value at the end of the period ($) | Expenses paid during the period ($) | Fund’s annualized expense ratio (%) | ||||
Actual | Hypothetical | Actual | Hypothetical | Actual | Hypothetical | Actual | |
Class A | 1,000.00 | 1,000.00 | 999.50 | 1,021.24 | 3.69 | 3.73 | 0.74 |
Advisor Class | 1,000.00 | 1,000.00 | 1,000.90 | 1,022.24 | 2.69 | 2.72 | 0.54 |
Class C | 1,000.00 | 1,000.00 | 997.00 | 1,018.75 | 6.17 | 6.24 | 1.24 |
Institutional Class | 1,000.00 | 1,000.00 | 1,000.50 | 1,022.24 | 2.69 | 2.72 | 0.54 |
Institutional 2 Class | 1,000.00 | 1,000.00 | 1,001.00 | 1,022.34 | 2.59 | 2.62 | 0.52 |
Institutional 3 Class | 1,000.00 | 1,000.00 | 1,001.30 | 1,022.59 | 2.35 | 2.37 | 0.47 |
Columbia Strategic California Municipal Income Fund | Annual Report 2021 | 7 |
October 31, 2021
Commercial Mortgage-Backed Securities - Agency 0.4% | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Freddie Mac Multifamily Certificates | ||||
Series ML10 Class ACA (FHLMC) | ||||
06/25/2038 | 2.046% | 2,495,126 | 2,534,131 | |
Total Commercial Mortgage-Backed Securities - Agency (Cost $2,592,957) | 2,534,131 | |||
Floating Rate Notes 0.0% | ||||
Issue Description | Yield | Principal Amount ($) | Value ($) | |
Variable Rate Demand Notes 0.0% | ||||
State of California(a),(b) | ||||
Unlimited General Obligation Bonds | ||||
Kindergarten | ||||
Series 2013A2 (State Street) | ||||
05/01/2034 | 0.010% | 100,000 | 100,000 | |
Total Floating Rate Notes (Cost $100,000) | 100,000 | |||
Municipal Bonds 93.3% | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Airport 6.6% | ||||
City of Fresno Airport(c) | ||||
Refunding Revenue Bonds | ||||
Series 2013B (BAM) | ||||
07/01/2028 | 5.000% | 500,000 | 536,104 | |
07/01/2030 | 5.125% | 1,050,000 | 1,127,986 | |
City of Los Angeles Department of Airports(c) | ||||
Refunding Revenue Bonds | ||||
Subordinated Series 2019A | ||||
05/15/2049 | 5.000% | 5,000,000 | 6,032,605 | |
Revenue Bonds | ||||
Los Angeles International Airport | ||||
Subordinated Series 2017 | ||||
05/15/2041 | 5.000% | 1,500,000 | 1,750,154 | |
Subordinated Series 2018 | ||||
05/15/2048 | 5.250% | 3,000,000 | 3,654,616 | |
Senior Series 2020C | ||||
05/15/2031 | 5.000% | 1,880,000 | 2,393,847 | |
05/15/2050 | 4.000% | 4,000,000 | 4,527,156 | |
Subordinated Series 2018C | ||||
05/15/2044 | 5.000% | 2,000,000 | 2,416,280 | |
County of Sacramento Airport System | ||||
Refunding Revenue Bonds | ||||
Subordinated Series 2016B | ||||
07/01/2041 | 5.000% | 5,500,000 | 6,436,835 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Norman Y Mineta San Jose International Airport SJC(c) | ||||
Refunding Revenue Bonds | ||||
Series 2021A (BAM) | ||||
03/01/2032 | 5.000% | 2,000,000 | 2,548,780 | |
03/01/2033 | 5.000% | 1,300,000 | 1,652,522 | |
Norman Y. Mineta San Jose International Airport(c) | ||||
Refunding Revenue Bonds | ||||
Series 2017A | ||||
03/01/2047 | 5.000% | 3,000,000 | 3,527,891 | |
San Francisco City & County Airport Commission - San Francisco International Airport(c) | ||||
Refunding Revenue Bonds | ||||
Series 2021A | ||||
05/01/2035 | 5.000% | 3,000,000 | 3,831,077 | |
SFO Fuel Co., LLC | ||||
Series 2019 | ||||
01/01/2047 | 5.000% | 1,000,000 | 1,197,968 | |
Revenue Bonds | ||||
San Francisco International Airport | ||||
Series 2016 | ||||
05/01/2041 | 5.000% | 1,305,000 | 1,523,942 | |
Unrefunded Revenue Bonds | ||||
Series 2014A | ||||
05/01/2044 | 5.000% | 6,000,000 | 6,605,732 | |
Total | 49,763,495 | |||
Charter Schools 4.6% | ||||
California Infrastructure & Economic Development Bank(d) | ||||
Revenue Bonds | ||||
WFCS Portfolio Project | ||||
Series 2021 | ||||
01/01/2056 | 5.000% | 1,300,000 | 1,435,589 | |
Wonderful Foundations Charter School Portfolio Projects | ||||
Series 2020 | ||||
01/01/2055 | 5.000% | 2,300,000 | 2,530,538 | |
California Infrastructure & Economic Development Bank(d),(e) | ||||
Revenue Bonds | ||||
WFCS Portfolio Project | ||||
Subordinated Series 2021 | ||||
01/01/2061 | 0.000% | 40,000,000 | 3,063,988 | |
California Public Finance Authority | ||||
Revenue Bonds | ||||
Laverne Elementary Prep Academy Project | ||||
Series 2019 | ||||
06/15/2039 | 5.000% | 870,000 | 892,828 | |
06/15/2049 | 5.000% | 1,400,000 | 1,432,285 |
8 | Columbia Strategic California Municipal Income Fund | Annual Report 2021 |
October 31, 2021
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
California School Finance Authority(d) | ||||
Refunding Revenue Bonds | ||||
Aspire Public School | ||||
Series 2016 | ||||
08/01/2041 | 5.000% | 1,600,000 | 1,792,686 | |
Revenue Bonds | ||||
Alliance College-Ready Public Schools | ||||
Series 2015 | ||||
07/01/2035 | 5.000% | 3,010,000 | 3,368,741 | |
07/01/2045 | 5.000% | 1,705,000 | 1,890,115 | |
Aspire Public Schools | ||||
Series 2020A | ||||
08/01/2059 | 5.000% | 3,120,000 | 3,622,040 | |
Girls Athletic Leadership School | ||||
Series 2021 | ||||
06/01/2051 | 4.000% | 1,000,000 | 1,007,901 | |
06/01/2061 | 4.000% | 2,890,000 | 2,867,144 | |
Green Dot Public School Project | ||||
Series 2015A | ||||
08/01/2035 | 5.000% | 1,510,000 | 1,678,708 | |
Series 2018 | ||||
08/01/2048 | 5.000% | 1,750,000 | 2,026,207 | |
KIPP Los Angeles Projects | ||||
Series 2014A | ||||
07/01/2044 | 5.125% | 1,000,000 | 1,086,826 | |
Series 2015A | ||||
07/01/2045 | 5.000% | 1,000,000 | 1,109,321 | |
Kipp SoCal Public Schools | ||||
Series 2019A | ||||
07/01/2049 | 5.000% | 1,000,000 | 1,189,421 | |
River Springs Charter School Project | ||||
Series 2015 | ||||
07/01/2046 | 6.375% | 1,000,000 | 1,125,106 | |
07/01/2046 | 6.375% | 155,000 | 174,391 | |
Santa Clarita Valley International School Project | ||||
Series 2021 | ||||
06/01/2051 | 4.000% | 750,000 | 785,697 | |
06/01/2061 | 4.000% | 1,175,000 | 1,218,274 | |
Total | 34,297,806 | |||
Disposal 1.3% | ||||
California Municipal Finance Authority(c) | ||||
Revenue Bonds | ||||
Waste Management, Inc. Project | ||||
Series 2019A (Mandatory Put 10/01/29) | ||||
10/01/2044 | 2.400% | 9,000,000 | 9,504,278 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Health Services 0.7% | ||||
California Municipal Finance Authority | ||||
Revenue Bonds | ||||
Clincas Del Camino Real, Inc. | ||||
Series 2020 | ||||
03/01/2050 | 4.000% | 5,000,000 | 5,552,273 | |
Higher Education 5.3% | ||||
California Educational Facilities Authority | ||||
Refunding Revenue Bonds | ||||
Loma Linda University | ||||
Series 2017A | ||||
04/01/2047 | 5.000% | 4,250,000 | 4,922,874 | |
Series 2018-A | ||||
12/01/2044 | 5.000% | 2,000,000 | 2,383,678 | |
University of the Pacific | ||||
Series 2015 | ||||
11/01/2036 | 5.000% | 2,000,000 | 2,308,959 | |
Revenue Bonds | ||||
Chapman University | ||||
Series 2015 | ||||
04/01/2040 | 5.000% | 2,500,000 | 2,819,788 | |
California Municipal Finance Authority | ||||
Refunding Revenue Bonds | ||||
Biola University | ||||
Series 2017 | ||||
10/01/2039 | 5.000% | 1,000,000 | 1,170,769 | |
California Lutheran University | ||||
Series 2018 | ||||
10/01/2038 | 5.000% | 300,000 | 361,082 | |
Revenue Bonds | ||||
Biola University | ||||
Series 2013 | ||||
10/01/2038 | 5.000% | 1,000,000 | 1,065,208 | |
10/01/2042 | 5.000% | 2,360,000 | 2,506,644 | |
National University | ||||
Series 2019A | ||||
04/01/2040 | 5.000% | 1,000,000 | 1,215,983 | |
04/01/2041 | 5.000% | 2,000,000 | 2,426,769 | |
California Public Finance Authority(d) | ||||
Revenue Bonds | ||||
California University of Science and Medicine | ||||
Series 2019 | ||||
07/01/2054 | 6.250% | 3,000,000 | 3,434,414 | |
California State University | ||||
Revenue Bonds | ||||
Series 2019A | ||||
11/01/2049 | 5.000% | 5,000,000 | 6,292,499 |
Columbia Strategic California Municipal Income Fund | Annual Report 2021 | 9 |
October 31, 2021
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
California Statewide Communities Development Authority(d) | ||||
Revenue Bonds | ||||
California Baptist University | ||||
Series 2014A | ||||
11/01/2043 | 6.375% | 3,000,000 | 3,276,745 | |
Lancer Plaza Project | ||||
Series 2013 | ||||
11/01/2033 | 5.625% | 1,400,000 | 1,512,057 | |
11/01/2043 | 5.875% | 1,875,000 | 2,020,772 | |
University of California | ||||
Refunding Revenue Bonds | ||||
Series 2020BE | ||||
05/15/2047 | 4.000% | 2,000,000 | 2,326,464 | |
Total | 40,044,705 | |||
Hospital 13.0% | ||||
California Health Facilities Financing Authority | ||||
Refunding Revenue Bonds | ||||
El Camino Hospital | ||||
Series 2015A | ||||
02/01/2040 | 5.000% | 5,000,000 | 5,668,115 | |
Marshal Medical Center | ||||
Series 2020 | ||||
11/01/2040 | 4.000% | 1,000,000 | 1,161,019 | |
11/01/2050 | 5.000% | 2,000,000 | 2,457,766 | |
PIH Health | ||||
Series 2020A | ||||
06/01/2050 | 4.000% | 4,500,000 | 5,159,973 | |
Revenue Bonds | ||||
City of Hope Obligated Group | ||||
Series 2019 | ||||
11/15/2045 | 4.000% | 8,000,000 | 9,190,901 | |
El Camino Hospital | ||||
Series 2017 | ||||
02/01/2047 | 5.000% | 4,000,000 | 4,764,444 | |
Kaiser Permanente | ||||
Subordinated Series 2017A-2 | ||||
11/01/2044 | 4.000% | 7,000,000 | 8,020,568 | |
Subordinated Series 2020A-2 | ||||
11/01/2051 | 4.000% | 5,195,000 | 5,888,788 | |
St. Joseph Health System | ||||
Series 2013A | ||||
07/01/2037 | 5.000% | 2,000,000 | 2,153,096 | |
California Municipal Finance Authority | ||||
Refunding Revenue Bonds | ||||
Community Medical Centers | ||||
Series 2015A | ||||
02/01/2040 | 5.000% | 2,000,000 | 2,268,625 | |
Series 2017A | ||||
02/01/2042 | 4.000% | 2,000,000 | 2,220,784 | |
02/01/2047 | 5.000% | 2,000,000 | 2,363,241 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
California Public Finance Authority | ||||
Refunding Revenue Bonds | ||||
Henry Mayo Newhall Memorial Hospital | ||||
Series 2017 | ||||
10/15/2047 | 5.000% | 4,000,000 | 4,626,948 | |
California Statewide Communities Development Authority | ||||
Refunding Revenue Bonds | ||||
Adventist Health System | ||||
Series 2018 | ||||
03/01/2042 | 4.000% | 5,000,000 | 5,656,477 | |
03/01/2048 | 5.000% | 5,000,000 | 5,960,580 | |
Adventist Health System West | ||||
Series 2015 | ||||
03/01/2035 | 5.000% | 3,850,000 | 4,489,042 | |
Huntington Memorial Hospital | ||||
Series 2014B | ||||
07/01/2044 | 5.000% | 1,000,000 | 1,110,236 | |
John Muir Health | ||||
Series 2018A | ||||
12/01/2053 | 5.000% | 700,000 | 836,390 | |
Redlands Community Hospital OB | ||||
Series 2016 | ||||
10/01/2046 | 5.000% | 1,000,000 | 1,147,608 | |
Revenue Bonds | ||||
Emanate Health | ||||
Series 2020A | ||||
04/01/2045 | 4.000% | 1,000,000 | 1,143,623 | |
Green - Marin General Hospital Project | ||||
Series 2018 | ||||
08/01/2038 | 5.000% | 475,000 | 560,450 | |
08/01/2045 | 4.000% | 1,000,000 | 1,028,983 | |
Loma Linda University Medical Center | ||||
Series 2014 | ||||
12/01/2054 | 5.500% | 2,660,000 | 3,008,173 | |
Methodist Hospital of Southern California | ||||
Series 2018 | ||||
01/01/2048 | 5.000% | 7,500,000 | 8,785,470 | |
California Statewide Communities Development Authority(d) | ||||
Revenue Bonds | ||||
Loma Linda University Medical Center | ||||
Series 2018 | ||||
12/01/2058 | 5.500% | 3,000,000 | 3,639,853 | |
City of Upland | ||||
Refunding Certificate of Participation | ||||
San Antonio Regional Hospital | ||||
Series 2017 | ||||
01/01/2042 | 4.000% | 3,000,000 | 3,310,295 |
10 | Columbia Strategic California Municipal Income Fund | Annual Report 2021 |
October 31, 2021
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Washington Township Health Care District | ||||
Refunding Revenue Bonds | ||||
Series 2019A | ||||
07/01/2036 | 5.000% | 500,000 | 609,888 | |
07/01/2048 | 4.000% | 500,000 | 554,671 | |
Total | 97,786,007 | |||
Human Service Provider 0.8% | ||||
California Municipal Finance Authority | ||||
Refunding Revenue Bonds | ||||
Harbor Regional Center Project | ||||
Series 2015 | ||||
11/01/2039 | 5.000% | 2,000,000 | 2,303,994 | |
Inland Regional Center Project | ||||
Series 2015 | ||||
06/15/2045 | 5.000% | 3,500,000 | 3,957,440 | |
Total | 6,261,434 | |||
Joint Power Authority 0.5% | ||||
Southern California Public Power Authority | ||||
Refunding Revenue Bonds | ||||
Milford Wind Corridor Phase II Project Green Bonds | ||||
Series 2021 | ||||
07/01/2029 | 5.000% | 600,000 | 777,090 | |
07/01/2030 | 5.000% | 800,000 | 1,054,378 | |
07/01/2031 | 5.000% | 1,200,000 | 1,610,572 | |
Total | 3,442,040 | |||
Local Appropriation 1.3% | ||||
City of Modesto | ||||
Certificate of Participation | ||||
Community Center Refinancing Project | ||||
Series 1993A (AMBAC) | ||||
11/01/2023 | 5.000% | 840,000 | 845,108 | |
Los Angeles County Public Works Financing Authority | ||||
Revenue Bonds | ||||
Green Bonds - LACMA Building for the Permanent Collection Project | ||||
Series 2020A | ||||
12/01/2043 | 4.000% | 1,500,000 | 1,765,256 | |
12/01/2045 | 5.000% | 4,000,000 | 5,042,398 | |
Sacramento City Schools Joint Powers Financing Authority | ||||
Refunding Revenue Bonds | ||||
Series 2006A (BAM) | ||||
03/01/2040 | 5.000% | 2,000,000 | 2,172,829 | |
Total | 9,825,591 | |||
Local General Obligation 12.8% | ||||
Alameda Unified School District-Alameda County | ||||
Unlimited General Obligation Bonds | ||||
Election of 2014 | ||||
Series 2019C | ||||
08/01/2042 | 3.000% | 1,000,000 | 1,052,560 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Carlsbad Unified School District | ||||
Unlimited General Obligation Bonds | ||||
Election of 2018 | ||||
Series 2019A | ||||
08/01/2048 | 3.125% | 2,750,000 | 2,914,620 | |
Series 2021B | ||||
08/01/2046 | 3.000% | 3,175,000 | 3,372,633 | |
08/01/2050 | 2.375% | 3,000,000 | 2,863,106 | |
Cerritos Community College District | ||||
Unlimited General Obligation Bonds | ||||
Series 2019C | ||||
08/01/2044 | 3.000% | 5,000,000 | 5,289,720 | |
Chaffey Joint Union High School District(e) | ||||
Unlimited General Obligation Bonds | ||||
Series 2019D | ||||
08/01/2034 | 0.000% | 500,000 | 365,125 | |
08/01/2035 | 0.000% | 660,000 | 463,800 | |
08/01/2036 | 0.000% | 1,000,000 | 675,511 | |
Chino Valley Unified School District | ||||
Limited General Obligation Bonds | ||||
Series 2020B | ||||
08/01/2055 | 5.000% | 1,000,000 | 1,257,720 | |
Chula Vista Elementary School District(e) | ||||
Unlimited General Obligation Bonds | ||||
BAN Series 2019 | ||||
08/01/2023 | 0.000% | 1,600,000 | 1,588,140 | |
Coast Community College District(e) | ||||
Unlimited General Obligation Bonds | ||||
Election of 2012 | ||||
Series 2019F | ||||
08/01/2041 | 0.000% | 2,125,000 | 1,240,774 | |
08/01/2043 | 0.000% | 7,250,000 | 3,922,177 | |
Compton Unified School District(e) | ||||
Unlimited General Obligation Bonds | ||||
Compton Unified School District | ||||
Series 2019B (BAM) | ||||
06/01/2036 | 0.000% | 2,750,000 | 1,858,808 | |
Conejo Valley Unified School District(e) | ||||
Unlimited General Obligation Bonds | ||||
Series 2015A (AGM) | ||||
08/01/2029 | 0.000% | 1,650,000 | 1,300,694 | |
08/01/2030 | 0.000% | 1,000,000 | 746,186 | |
Corona-Norco Unified School District | ||||
Unlimited General Obligation Bonds | ||||
Series 2019C | ||||
08/01/2049 | 4.000% | 1,500,000 | 1,710,741 | |
East Side Union High School District | ||||
Unlimited General Obligation Refunding Bonds | ||||
Series 2003B (NPFGC) | ||||
08/01/2026 | 5.250% | 2,010,000 | 2,180,623 |
Columbia Strategic California Municipal Income Fund | Annual Report 2021 | 11 |
October 31, 2021
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
El Monte Union High School District | ||||
Unlimited General Obligation Bonds | ||||
Series 2019A | ||||
06/01/2044 | 4.000% | 2,750,000 | 3,113,124 | |
El Monte Union High School District(e) | ||||
Unlimited General Obligation Bonds | ||||
Series 2021E | ||||
06/01/2046 | 0.000% | 2,765,000 | 1,415,075 | |
Fremont Union High School District | ||||
Unlimited General Obligation Bonds | ||||
Series 2021A | ||||
08/01/2037 | 3.000% | 2,045,000 | 2,238,748 | |
08/01/2038 | 3.000% | 5,615,000 | 6,126,011 | |
Fresno Unified School District | ||||
Unlimited General Obligation Bonds | ||||
Series 2021A | ||||
08/01/2045 | 4.000% | 1,000,000 | 1,156,326 | |
Glendale Community College District(e) | ||||
Unlimited General Obligation Bonds | ||||
Series 2020B | ||||
08/01/2044 | 0.000% | 1,550,000 | 802,804 | |
02/01/2045 | 0.000% | 1,250,000 | 635,173 | |
Glendale Unified School District(e) | ||||
Unlimited General Obligation Refunding Bonds | ||||
Series 2015B | ||||
09/01/2031 | 0.000% | 1,900,000 | 1,420,532 | |
09/01/2032 | 0.000% | 1,000,000 | 711,757 | |
Long Beach Community College District | ||||
Unlimited General Obligation Bonds | ||||
Series 2019C | ||||
08/01/2045 | 4.000% | 725,000 | 833,524 | |
Long Beach Unified School District(e) | ||||
Unlimited General Obligation Bonds | ||||
Series 2015D-1 | ||||
08/01/2032 | 0.000% | 1,500,000 | 1,067,951 | |
Los Angeles Unified School District | ||||
Unlimited General Obligation Bonds | ||||
Series 2020RYQ | ||||
07/01/2035 | 5.000% | 1,250,000 | 1,610,655 | |
07/01/2044 | 4.000% | 6,000,000 | 6,974,612 | |
Unlimited General Obligation Refunding Bonds | ||||
Series 2021A | ||||
07/01/2032 | 4.000% | 6,000,000 | 7,357,447 | |
Manteca Unified School District(e) | ||||
Unlimited General Obligation Bonds | ||||
Capital Appreciation-Election of 2004 | ||||
Series 2006 (NPFGC) | ||||
08/01/2032 | 0.000% | 5,440,000 | 4,356,233 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Monterey Peninsula Community College District(e) | ||||
Unlimited General Obligation Refunding Bonds | ||||
Series 2016 | ||||
08/01/2032 | 0.000% | 3,500,000 | 2,694,205 | |
08/01/2033 | 0.000% | 2,000,000 | 1,480,802 | |
Mount San Antonio Community College District(e) | ||||
Unlimited General Obligation Bonds | ||||
Election 2008 | ||||
Series 2021E | ||||
08/01/2046 | 0.000% | 8,230,000 | 4,296,514 | |
Pomona Unified School District(e) | ||||
Unlimited General Obligation Bonds | ||||
Series 2016G (AGM) | ||||
08/01/2033 | 0.000% | 1,000,000 | 726,029 | |
08/01/2034 | 0.000% | 1,610,000 | 1,118,171 | |
Poway Unified School District(e) | ||||
Unlimited General Obligation Bonds | ||||
Improvement District No. 2007-1-A | ||||
Series 2009 | ||||
08/01/2030 | 0.000% | 2,295,000 | 1,987,070 | |
San Diego Unified School District(e) | ||||
Unlimited General Obligation Bonds | ||||
Capital Appreciation Bonds | ||||
Series 2016I | ||||
07/01/2034 | 0.000% | 5,000,000 | 3,350,115 | |
San Diego Unified School District | ||||
Unlimited General Obligation Bonds | ||||
Series 2019B | ||||
07/01/2048 | 3.250% | 5,000,000 | 5,353,841 | |
Sierra Kings Health Care District | ||||
Unlimited General Obligation Refunding Bonds | ||||
Series 2015 | ||||
08/01/2037 | 5.000% | 1,500,000 | 1,670,261 | |
Simi Valley Unified School District | ||||
Refunding Certificate of Participation | ||||
Capital Improvement Projects | ||||
Series 1998 (AMBAC) | ||||
08/01/2022 | 5.250% | 235,000 | 239,305 | |
Val Verde Unified School District | ||||
Unlimited General Obligation Bonds | ||||
Series 2020A (BAM) | ||||
08/01/2046 | 4.000% | 700,000 | 796,759 | |
Total | 96,335,982 | |||
Multi-Family 7.4% | ||||
California Community Housing Agency(d) | ||||
Revenue Bonds | ||||
Junior Bonds | ||||
Series 2021A-2 | ||||
02/01/2043 | 4.000% | 3,000,000 | 3,148,153 |
12 | Columbia Strategic California Municipal Income Fund | Annual Report 2021 |
October 31, 2021
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Mira Vista Hills Apartments | ||||
Series 2021 | ||||
02/01/2056 | 4.000% | 4,000,000 | 4,147,047 | |
The Arbors | ||||
Series 2020A | ||||
08/01/2050 | 5.000% | 3,500,000 | 3,900,846 | |
California Housing Finance | ||||
Revenue Bonds | ||||
Series 2019-2 Class A | ||||
03/20/2033 | 4.000% | 4,664,239 | 5,461,072 | |
California Housing Finance Agency | ||||
Revenue Bonds | ||||
Series 2021-1A | ||||
11/20/2035 | 3.500% | 6,500,483 | 7,491,537 | |
California Municipal Finance Authority | ||||
Refunding Revenue Bonds | ||||
Caritas Projects | ||||
Series 2017A | ||||
08/15/2042 | 4.000% | 1,000,000 | 1,081,082 | |
Revenue Bonds | ||||
Bowles Hall Foundation | ||||
Series 2015A | ||||
06/01/2050 | 5.000% | 1,250,000 | 1,391,305 | |
Caritas Affordable Housing | ||||
Series 2014 | ||||
08/15/2049 | 5.250% | 3,500,000 | 3,761,206 | |
Subordinated Series 2014 | ||||
08/15/2049 | 5.875% | 1,000,000 | 1,061,372 | |
California Statewide Communities Development Authority | ||||
Revenue Bonds | ||||
Lancer Educational Student Housing Project | ||||
Series 2019 | ||||
06/01/2051 | 5.000% | 1,440,000 | 1,680,676 | |
CMFA Special Finance Agency VIII(d) | ||||
Revenue Bonds | ||||
Elan Huntington Beach | ||||
Series 2021 | ||||
08/01/2047 | 4.000% | 2,000,000 | 2,066,852 | |
CSCDA Community Improvement Authority(d) | ||||
Revenue Bonds | ||||
Jefferson-Anaheim Social Bonds | ||||
Series 2021 | ||||
08/01/2056 | 3.125% | 2,500,000 | 2,292,250 | |
Parallel-Anaheim Social Bonds | ||||
Series 2021 | ||||
08/01/2056 | 4.000% | 1,760,000 | 1,831,112 | |
Pasadena Portfolio Social Bonds | ||||
Series 2021 | ||||
12/01/2056 | 4.000% | 1,000,000 | 1,031,832 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Social Bonds | ||||
Series 2021A-2 | ||||
10/01/2056 | 4.000% | 3,000,000 | 3,106,838 | |
The Link - Glendale Social Bonds | ||||
Subordinated Series 2021 | ||||
07/01/2056 | 4.000% | 3,500,000 | 3,604,551 | |
Union South Bay Social Bonds | ||||
Series 2021 | ||||
07/01/2056 | 4.000% | 2,000,000 | 2,064,731 | |
CSCDA Community Improvement Authority | ||||
Revenue Bonds | ||||
Pasadena Portfolio Social Bonds | ||||
Series 2021 | ||||
12/01/2056 | 3.000% | 2,000,000 | 1,848,372 | |
Hastings Campus Housing Finance Authority | ||||
Revenue Bonds | ||||
Green Bonds | ||||
Series 2020A | ||||
07/01/2061 | 5.000% | 4,000,000 | 4,579,949 | |
Total | 55,550,783 | |||
Municipal Power 1.6% | ||||
City of Vernon Electric System | ||||
Revenue Bonds | ||||
Series 2012A | ||||
08/01/2030 | 5.000% | 1,000,000 | 1,025,100 | |
Puerto Rico Electric Power Authority(f),(g) | ||||
Revenue Bonds | ||||
Series 2012A | ||||
07/01/2042 | 0.000% | 4,250,000 | 4,154,375 | |
Turlock Irrigation District | ||||
Refunding Revenue Bonds | ||||
Series 2020 | ||||
01/01/2039 | 5.000% | 2,000,000 | 2,534,138 | |
01/01/2041 | 5.000% | 3,130,000 | 3,949,425 | |
Total | 11,663,038 | |||
Other Bond Issue 0.9% | ||||
City of Long Beach Marina System | ||||
Revenue Bonds | ||||
Series 2015 | ||||
05/15/2040 | 5.000% | 2,000,000 | 2,189,015 | |
Federal Home Loan Mortgage Corp. Multifamily ML Certificates | ||||
Series 2019-ML05 | ||||
11/25/2033 | 3.350% | 3,881,223 | 4,318,976 | |
Total | 6,507,991 |
Columbia Strategic California Municipal Income Fund | Annual Report 2021 | 13 |
October 31, 2021
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Ports 0.7% | ||||
Port of Los Angeles(c) | ||||
Refunding Revenue Bonds | ||||
Series 2014A | ||||
08/01/2044 | 5.000% | 5,000,000 | 5,495,769 | |
Prepaid Gas 0.2% | ||||
M-S-R Energy Authority | ||||
Revenue Bonds | ||||
Series 2009B | ||||
11/01/2034 | 7.000% | 1,000,000 | 1,499,189 | |
Recreation 0.2% | ||||
California Infrastructure & Economic Development Bank | ||||
Refunding Revenue Bonds | ||||
Los Angeles County Museum of Natural History | ||||
Series 2020 | ||||
07/01/2050 | 4.000% | 1,500,000 | 1,702,858 | |
Refunded / Escrowed 4.0% | ||||
California School Finance Authority(d) | ||||
Prerefunded 08/01/25 Revenue Bonds | ||||
Aspire Public School | ||||
Series 2016 | ||||
08/01/2041 | 5.000% | 150,000 | 174,976 | |
California State Public Works Board | ||||
Prerefunded 11/01/22 Revenue Bonds | ||||
Various Capital Projects | ||||
Series 2012G | ||||
11/01/2037 | 5.000% | 6,825,000 | 7,153,218 | |
Prerefunded 11/13/21 Revenue Bonds | ||||
Various Capital Projects | ||||
Series 2011A | ||||
10/01/2031 | 5.125% | 5,000,000 | 5,007,501 | |
California Statewide Communities Development Authority | ||||
Prerefunded 10/01/24 Revenue Bonds | ||||
Henry Mayo Newhall Memorial Hospital | ||||
Series 2014A (AGM) | ||||
10/01/2043 | 5.250% | 3,120,000 | 3,543,858 | |
Prerefunded 12/01/23 Revenue Bonds | ||||
Covenant Retirement Communities, Inc. | ||||
Series 2013 | ||||
12/01/2036 | 5.625% | 2,000,000 | 2,217,324 | |
Chino Public Financing Authority | ||||
Prerefunded 09/01/22 Special Tax Bonds | ||||
Series 2012 | ||||
09/01/2030 | 5.000% | 2,500,000 | 2,597,750 | |
09/01/2038 | 5.000% | 625,000 | 649,437 | |
City of La Verne | ||||
Prerefunded 05/15/22 Certificate of Participation | ||||
Brethren Hillcrest Homes | ||||
Series 2014 | ||||
05/15/2036 | 5.000% | 1,100,000 | 1,139,075 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
City of Pomona | ||||
Refunding Revenue Bonds | ||||
Series 1990B Escrowed to Maturity (GNMA / FHLMC) | ||||
08/01/2023 | 7.500% | 220,000 | 235,368 | |
City of Redding Electric System(h) | ||||
Revenue Bonds | ||||
Series 1992 Escrowed to Maturity (NPFGC) | ||||
07/01/2022 | 12.310% | 55,000 | 59,271 | |
Corona-Norco Unified School District | ||||
Prerefunded 09/01/23 Special Tax Bonds | ||||
Community Facilities District #98-1 | ||||
Series 2013 | ||||
09/01/2032 | 5.000% | 1,300,000 | 1,412,594 | |
Oakland Unified School District/Alameda County | ||||
Prerefunded 08/01/25 Unlimited General Obligation Bonds | ||||
Series 2015A | ||||
08/01/2040 | 5.000% | 1,000,000 | 1,165,535 | |
Riverside Community College District(e) | ||||
Prerefunded 02/01/25 Unlimited General Obligation Bonds | ||||
Election of 2004 | ||||
Series 2015E | ||||
08/01/2030 | 0.000% | 600,000 | 460,578 | |
08/01/2031 | 0.000% | 1,000,000 | 728,606 | |
Riverside County Transportation Commission | ||||
Prerefunded 06/01/23 Revenue Bonds | ||||
Senior Lien | ||||
Series 2013A | ||||
06/01/2048 | 5.750% | 1,500,000 | 1,627,453 | |
Union City Community Redevelopment Agency | ||||
Prerefunded 12/01/21 Tax Allocation Bonds | ||||
Lien-Community Redevelopment Project | ||||
Subordinated Series 2011 | ||||
12/01/2033 | 6.875% | 1,500,000 | 1,508,009 | |
Total | 29,680,553 | |||
Resource Recovery 0.0% | ||||
California Municipal Finance Authority(c),(d),(g) | ||||
Revenue Bonds | ||||
UTS Renewable Energy-Waste Water Facilities | ||||
Series 2011 | ||||
12/01/2032 | 0.000% | 2,745,000 | 54,900 | |
Retirement Communities 3.8% | ||||
California Health Facilities Financing Authority | ||||
Refunding Revenue Bonds | ||||
Northern California Presbyterian Homes | ||||
Series 2015 | ||||
07/01/2039 | 5.000% | 2,565,000 | 2,898,508 | |
07/01/2044 | 5.000% | 700,000 | 788,007 |
14 | Columbia Strategic California Municipal Income Fund | Annual Report 2021 |
October 31, 2021
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
California Municipal Finance Authority | ||||
Refunding Revenue Bonds | ||||
HumanGood Obligation Group | ||||
Series 2019A | ||||
10/01/2044 | 4.000% | 2,500,000 | 2,778,338 | |
Revenue Bonds | ||||
HumanGood California Obligated Group | ||||
Series 2021 | ||||
10/01/2046 | 4.000% | 2,000,000 | 2,302,940 | |
10/01/2049 | 4.000% | 2,500,000 | 2,862,736 | |
Paradise Vally Estates Project | ||||
Series 2019 | ||||
01/01/2043 | 5.000% | 3,000,000 | 3,621,637 | |
California Public Finance Authority(d) | ||||
Revenue Bonds | ||||
Enso Village Project - Green Bonds | ||||
Series 2021 | ||||
11/15/2046 | 5.000% | 1,000,000 | 1,133,744 | |
11/15/2056 | 5.000% | 1,000,000 | 1,128,436 | |
California Statewide Communities Development Authority(d) | ||||
Refunding Revenue Bonds | ||||
899 Charleston Project | ||||
Series 2014A | ||||
11/01/2049 | 5.375% | 1,885,000 | 2,006,284 | |
California Statewide Communities Development Authority | ||||
Refunding Revenue Bonds | ||||
American Baptist Homes West | ||||
Series 2015 | ||||
10/01/2045 | 5.000% | 3,155,000 | 3,499,945 | |
Front Porch Communities & Services | ||||
Series 2017 | ||||
04/01/2047 | 4.000% | 1,750,000 | 1,914,810 | |
04/01/2047 | 5.000% | 250,000 | 291,822 | |
Series 2021 | ||||
04/01/2046 | 3.000% | 1,000,000 | 1,021,949 | |
04/01/2051 | 3.000% | 1,250,000 | 1,267,244 | |
Revenue Bonds | ||||
Eskaton Properties, Inc. | ||||
Series 2012 | ||||
11/15/2034 | 5.250% | 1,250,000 | 1,290,920 | |
Total | 28,807,320 | |||
Sales Tax 3.0% | ||||
Orange County Local Transportation Authority | ||||
Refunding Revenue Bonds | ||||
Series 2019 | ||||
02/15/2035 | 5.000% | 4,000,000 | 5,026,210 | |
Puerto Rico Sales Tax Financing Corp.(e),(f) | ||||
Revenue Bonds | ||||
Series 2018A-1 | ||||
07/01/2046 | 0.000% | 22,400,000 | 7,274,355 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Puerto Rico Sales Tax Financing Corp.(f) | ||||
Revenue Bonds | ||||
Series 2019A1 | ||||
07/01/2058 | 5.000% | 6,000,000 | 6,773,686 | |
San Francisco Bay Area Rapid Transit District | ||||
Revenue Bonds | ||||
Sales Tax | ||||
Series 2019A | ||||
07/01/2039 | 4.000% | 1,250,000 | 1,430,002 | |
San Joaquin County Transportation Authority | ||||
Revenue Bonds | ||||
Measure K | ||||
Series 2019 | ||||
03/01/2039 | 5.000% | 1,500,000 | 1,870,177 | |
Total | 22,374,430 | |||
Special Non Property Tax 0.3% | ||||
Puerto Rico Highway & Transportation Authority(f),(g) | ||||
Revenue Bonds | ||||
Series 2007M | ||||
07/01/2046 | 0.000% | 555,000 | 309,412 | |
Unrefunded Revenue Bonds | ||||
Series 2003G | ||||
07/01/2042 | 0.000% | 2,780,000 | 1,549,850 | |
Total | 1,859,262 | |||
Special Property Tax 5.1% | ||||
Bakersfield Redevelopment Agency | ||||
Tax Allocation Bonds | ||||
Old Town Kern Pioneer | ||||
Series 2009A | ||||
08/01/2029 | 7.500% | 1,145,000 | 1,149,554 | |
Southeast Bakersfield | ||||
Series 2009B | ||||
08/01/2029 | 7.250% | 535,000 | 537,116 | |
Carson Public Financing Authority | ||||
Revenue Bonds | ||||
Series 2019 | ||||
09/02/2030 | 5.000% | 1,000,000 | 1,265,605 | |
Cerritos Public Financing Authority | ||||
Tax Allocation Bonds | ||||
Los Coyotes Redevelopment Project Loan | ||||
Series 1993A (AMBAC) | ||||
11/01/2023 | 6.500% | 2,000,000 | 2,208,745 | |
Chula Vista Municipal Financing Authority | ||||
Refunding Special Tax Bonds | ||||
Series 2015A | ||||
09/01/2035 | 5.000% | 2,460,000 | 2,786,393 | |
09/01/2036 | 5.000% | 2,435,000 | 2,754,550 |
Columbia Strategic California Municipal Income Fund | Annual Report 2021 | 15 |
October 31, 2021
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
City of Carson | ||||
Special Assessment Bonds | ||||
Assessment District No. 92-1 | ||||
Series 1992 | ||||
09/02/2022 | 7.375% | 15,000 | 15,297 | |
City of Dublin | ||||
Special Tax Bonds | ||||
Improvement Area No. 3 | ||||
Series 2021 | ||||
09/01/2045 | 4.000% | 850,000 | 945,429 | |
09/01/2051 | 4.000% | 865,000 | 956,824 | |
City of Irvine | ||||
Special Tax Bonds | ||||
Community Facilities District 2013-3 | ||||
Series 2014 | ||||
09/01/2039 | 5.000% | 750,000 | 824,654 | |
09/01/2044 | 5.000% | 1,025,000 | 1,126,354 | |
City of Yucaipa | ||||
Refunding Special Tax Bonds | ||||
Community Facilities District No. 98-1 | ||||
Series 2011 | ||||
09/01/2030 | 5.375% | 1,500,000 | 1,510,107 | |
Elk Grove Unified School District | ||||
Refunding Special Tax Bonds | ||||
Community Facilities District No. 1 | ||||
Series 1995 (AMBAC) | ||||
12/01/2024 | 6.500% | 1,700,000 | 1,852,951 | |
Inglewood Redevelopment Agency Successor Agency | ||||
Refunding Tax Allocation Bonds | ||||
Merged Redevelopment Project | ||||
Series 1998A (AMBAC) | ||||
05/01/2023 | 5.250% | 530,000 | 561,854 | |
Inland Valley Development Agency | ||||
Refunding Tax Allocation Bonds | ||||
Series 2014A | ||||
09/01/2044 | 5.000% | 5,000,000 | 5,425,327 | |
Irvine Unified School District | ||||
Special Tax Bonds | ||||
Community Facilities District Number 09-1 | ||||
Series 2019A | ||||
09/01/2038 | 4.000% | 275,000 | 317,281 | |
09/01/2040 | 4.000% | 690,000 | 792,421 | |
Jurupa Public Financing Authority | ||||
Refunding Special Tax Bonds | ||||
Series 2014A | ||||
09/01/2042 | 5.000% | 1,000,000 | 1,109,086 | |
Mountain View Shoreline Regional Park Community | ||||
Tax Allocation Bonds | ||||
Series 2011A | ||||
08/01/2035 | 5.625% | 1,300,000 | 1,304,536 | |
08/01/2040 | 5.750% | 2,000,000 | 2,007,073 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Pittsburg Successor Agency Redevelopment Agency(e) | ||||
Tax Allocation Bonds | ||||
Los Medanos Community Development Project | ||||
Series 1999 (AMBAC) | ||||
08/01/2024 | 0.000% | 2,100,000 | 2,067,628 | |
Poway Unified School District Public Financing Authority | ||||
Special Tax Refunding Bonds | ||||
Series 2015B (BAM) | ||||
09/01/2035 | 5.000% | 1,400,000 | 1,618,746 | |
San Francisco City & County Redevelopment Agency | ||||
Tax Allocation Bonds | ||||
Mission Bay South Redevelopment Project | ||||
Series 2014A | ||||
08/01/2043 | 5.000% | 1,000,000 | 1,106,873 | |
Santa Monica Redevelopment Agency | ||||
Tax Allocation Bonds | ||||
Earthquake Recovery Redevelopment | ||||
Series 2011 | ||||
07/01/2036 | 5.875% | 1,250,000 | 1,261,379 | |
Transbay Joint Powers Authority | ||||
Senior Tax Allocation Bonds | ||||
Green Bonds | ||||
Series 2020A | ||||
10/01/2045 | 5.000% | 1,000,000 | 1,237,658 | |
10/01/2049 | 5.000% | 1,000,000 | 1,232,936 | |
Total | 37,976,377 | |||
State Appropriated 2.0% | ||||
California State Public Works Board(i) | ||||
Refunding Revenue Bonds | ||||
Various Purpose | ||||
Series 2022A | ||||
08/01/2035 | 5.000% | 3,750,000 | 4,815,520 | |
California State Public Works Board | ||||
Revenue Bonds | ||||
Judicial Council Projects | ||||
Series 2013A | ||||
03/01/2038 | 5.000% | 2,500,000 | 2,648,789 | |
Series 2014B | ||||
10/01/2039 | 5.000% | 1,000,000 | 1,120,963 | |
Various Capital Projects | ||||
Series 2020B | ||||
03/01/2045 | 4.000% | 1,875,000 | 2,155,733 | |
Various Correctional Facilities | ||||
Series 2014A | ||||
09/01/2039 | 5.000% | 3,895,000 | 4,352,570 | |
Total | 15,093,575 |
16 | Columbia Strategic California Municipal Income Fund | Annual Report 2021 |
October 31, 2021
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
State General Obligation 7.3% | ||||
Commonwealth of Puerto Rico(f),(g) | ||||
Unlimited General Obligation Refunding & Public Improvement Bonds | ||||
Series 2014A | ||||
07/01/2035 | 0.000% | 4,000,000 | 3,520,000 | |
State of California | ||||
Unlimited General Obligation Bonds | ||||
Construction Bonds | ||||
Series 2019 | ||||
10/01/2049 | 5.000% | 2,000,000 | 2,503,455 | |
Series 2019 | ||||
11/01/2029 | 5.000% | 8,000,000 | 10,360,116 | |
04/01/2045 | 3.250% | 3,650,000 | 3,922,061 | |
Various Purpose | ||||
Series 2020 | ||||
03/01/2036 | 5.000% | 1,000,000 | 1,279,045 | |
03/01/2046 | 4.000% | 1,000,000 | 1,155,753 | |
Various Purpose - Bid Group A | ||||
Series 2018 | ||||
10/01/2048 | 5.000% | 10,000,000 | 12,299,592 | |
Unlimited General Obligation Refunding Bonds | ||||
Series 2019 | ||||
04/01/2028 | 5.000% | 4,000,000 | 5,018,787 | |
Series 2020 | ||||
03/01/2035 | 5.000% | 2,000,000 | 2,566,282 | |
Series 2021 | ||||
12/01/2028 | 5.000% | 600,000 | 764,582 | |
12/01/2029 | 5.000% | 1,500,000 | 1,945,829 | |
Various Purpose | ||||
Series 2019 | ||||
04/01/2032 | 5.000% | 7,000,000 | 9,461,420 | |
Unrefunded Unlimited General Obligation Bonds | ||||
Series 2004 | ||||
04/01/2029 | 5.300% | 2,000 | 2,008 | |
Total | 54,798,930 | |||
Tobacco 3.6% | ||||
California County Tobacco Securitization Agency(e) | ||||
Refunding Revenue Bonds | ||||
Capital Allocation | ||||
Subordinated Series 2020B-2 | ||||
06/01/2055 | 0.000% | 17,780,000 | 3,392,885 | |
Sonoma County Securitization Corp. | ||||
Series 2020 | ||||
06/01/2055 | 0.000% | 10,000,000 | 2,382,644 | |
Golden State Tobacco Securitization Corp. | ||||
Refunding Revenue Bonds | ||||
Series 2018A-1 | ||||
06/01/2047 | 5.000% | 4,000,000 | 4,095,813 | |
06/01/2047 | 5.250% | 1,500,000 | 1,538,559 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Series 2018A-2 | ||||
06/01/2047 | 5.000% | 6,900,000 | 7,065,269 | |
Tobacco Securitization Authority of Northern California(e) | ||||
Refunding Revenue Bonds | ||||
Sacramento County Tobacco Securitization Corp. Senior Bonds | ||||
Series 2021 | ||||
06/01/2060 | 0.000% | 5,000,000 | 1,103,479 | |
Tobacco Securitization Authority of Southern California | ||||
Refunding Revenue Bonds | ||||
San Diego County Tobacco Asset Securitization Corp. | ||||
Series 2019 | ||||
06/01/2048 | 5.000% | 4,890,000 | 5,850,260 | |
Tobacco Securitization Authority of Southern California(e) | ||||
Refunding Revenue Bonds | ||||
San Diego County Tobacco Asset Securitization Corp. | ||||
Series 2019 | ||||
06/01/2054 | 0.000% | 7,000,000 | 1,309,893 | |
Total | 26,738,802 | |||
Turnpike / Bridge / Toll Road 3.3% | ||||
Foothill-Eastern Transportation Corridor Agency | ||||
Refunding Revenue Bonds | ||||
Senior Lien | ||||
Series 2021A | ||||
01/15/2046 | 4.000% | 2,914,000 | 3,308,759 | |
Subordinated Series 2019B-2 | ||||
01/15/2053 | 3.500% | 5,000,000 | 5,461,156 | |
Foothill-Eastern Transportation Corridor Agency(e) | ||||
Refunding Revenue Bonds | ||||
Series 2015 | ||||
01/15/2033 | 0.000% | 5,000,000 | 3,738,472 | |
Riverside County Transportation Commission | ||||
Refunding Revenue Bonds | ||||
RCTC 91 Express Lanes | ||||
Series 2021 | ||||
06/01/2046 | 4.000% | 525,000 | 603,103 | |
Riverside County Transportation Commission(e) | ||||
Revenue Bonds | ||||
Capital Appreciation-Senior Lien | ||||
Series 2013B | ||||
06/01/2032 | 0.000% | 2,055,000 | 1,636,820 | |
06/01/2033 | 0.000% | 2,940,000 | 2,278,750 | |
Senior Lien | ||||
Series 2013B | ||||
06/01/2029 | 0.000% | 2,500,000 | 2,172,494 | |
San Joaquin Hills Transportation Corridor Agency | ||||
Refunding Revenue Bonds | ||||
Senior Lien | ||||
Series 2014A | ||||
01/15/2044 | 5.000% | 5,000,000 | 5,567,952 | |
Total | 24,767,506 |
Columbia Strategic California Municipal Income Fund | Annual Report 2021 | 17 |
October 31, 2021
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Water & Sewer 3.0% | ||||
City of Riverside Sewer | ||||
Refunding Revenue Bonds | ||||
Series 2015A | ||||
08/01/2040 | 5.000% | 3,185,000 | 3,655,897 | |
City of Tulare Sewer | ||||
Refunding Revenue Bonds | ||||
Series 2015 (AGM) | ||||
11/15/2041 | 5.000% | 2,000,000 | 2,314,119 | |
Los Angeles Department of Water & Power Water System | ||||
Refunding Revenue Bonds | ||||
Series 2021B | ||||
07/01/2046 | 5.000% | 5,000,000 | 6,402,469 | |
Mountain House Public Financing Authority | ||||
Revenue Bonds | ||||
Green Bonds | ||||
Series 2020A (BAM) | ||||
12/01/2055 | 4.000% | 4,500,000 | 5,103,175 | |
State of California Department of Water Resources | ||||
Revenue Bonds | ||||
Central Valley Project Water System | ||||
Series 2021 | ||||
12/01/2035 | 4.000% | 4,000,000 | 4,944,036 | |
Total | 22,419,696 | |||
Total Municipal Bonds (Cost $662,847,833) | 699,804,590 |
Money Market Funds 5.9% | ||
Shares | Value ($) | |
Dreyfus Tax Exempt Cash Management Fund, Institutional Shares, 0.010%(j) | 262,837 | 262,810 |
JPMorgan Institutional Tax Free Money Market Fund, Institutional Shares, 0.006%(j) | 43,924,777 | 43,924,777 |
Total Money Market Funds (Cost $44,187,604) | 44,187,587 | |
Total Investments in Securities (Cost: $709,728,394) | 746,626,308 | |
Other Assets & Liabilities, Net | 3,223,416 | |
Net Assets | 749,849,724 |
Short futures contracts | ||||||
Description | Number of contracts | Expiration date | Trading currency | Notional amount | Value/Unrealized appreciation ($) | Value/Unrealized depreciation ($) |
U.S. Treasury 10-Year Note | (180) | 12/2021 | USD | (23,526,563) | 67,203 | — |
U.S. Treasury 10-Year Note | (200) | 12/2021 | USD | (26,140,625) | — | (47,275) |
Total | 67,203 | (47,275) |
(a) | The Fund is entitled to receive principal and interest from the guarantor after a day or a week’s notice or upon maturity. The maturity date disclosed represents the final maturity. |
(b) | Represents a variable rate security where the coupon rate adjusts on specified dates (generally daily or weekly) using the prevailing money market rate. The interest rate shown was the current rate as of October 31, 2021. |
(c) | Income from this security may be subject to alternative minimum tax. |
(d) | Represents privately placed and other securities and instruments exempt from Securities and Exchange Commission registration (collectively, private placements), such as Section 4(a)(2) and Rule 144A eligible securities, which are often sold only to qualified institutional buyers. At October 31, 2021, the total value of these securities amounted to $77,549,086, which represents 10.34% of total net assets. |
(e) | Zero coupon bond. |
(f) | Municipal obligations include debt obligations issued by or on behalf of territories, possessions, or sovereign nations within the territorial boundaries of the United States. At October 31, 2021, the total value of these securities amounted to $23,581,678, which represents 3.14% of total net assets. |
18 | Columbia Strategic California Municipal Income Fund | Annual Report 2021 |
October 31, 2021
(g) | Represents securities that have defaulted on payment of interest. The Fund has stopped accruing interest on these securities. At October 31, 2021, the total value of these securities amounted to $9,588,537, which represents 1.28% of total net assets. |
(h) | Inverse floating rate security issued by a tender option bond (TOB) trust, the interest rate on which varies inversely with the Securities Industry Financial Markets Association (SIFMA) short-term rate, which resets weekly, or a similar short-term rate, and is reduced by the expenses related to the TOB trust. The interest rate shown was the current rate as of October 31, 2021. |
(i) | Represents a security purchased on a when-issued basis. |
(j) | The rate shown is the seven-day current annualized yield at October 31, 2021. |
ACA | ACA Financial Guaranty Corporation |
AGM | Assured Guaranty Municipal Corporation |
AMBAC | Ambac Assurance Corporation |
BAM | Build America Mutual Assurance Co. |
BAN | Bond Anticipation Note |
FHLMC | Federal Home Loan Mortgage Corporation |
GNMA | Government National Mortgage Association |
NPFGC | National Public Finance Guarantee Corporation |
USD | US Dollar |
■ | Level 1 — Valuations based on quoted prices for investments in active markets that the Fund has the ability to access at the measurement date. Valuation adjustments are not applied to Level 1 investments. |
■ | Level 2 — Valuations based on other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risks, etc.). |
■ | Level 3 — Valuations based on significant unobservable inputs (including the Fund’s own assumptions and judgment in determining the fair value of investments). |
Columbia Strategic California Municipal Income Fund | Annual Report 2021 | 19 |
October 31, 2021
The following table is a summary of the inputs used to value the Fund’s investments at October 31, 2021:
Level 1 ($) | Level 2 ($) | Level 3 ($) | Total ($) | |
Investments in Securities | ||||
Commercial Mortgage-Backed Securities - Agency | — | 2,534,131 | — | 2,534,131 |
Floating Rate Notes | — | 100,000 | — | 100,000 |
Municipal Bonds | — | 699,804,590 | — | 699,804,590 |
Money Market Funds | 44,187,587 | — | — | 44,187,587 |
Total Investments in Securities | 44,187,587 | 702,438,721 | — | 746,626,308 |
Investments in Derivatives | ||||
Asset | ||||
Futures Contracts | 67,203 | — | — | 67,203 |
Liability | ||||
Futures Contracts | (47,275) | — | — | (47,275) |
Total | 44,207,515 | 702,438,721 | — | 746,646,236 |
20 | Columbia Strategic California Municipal Income Fund | Annual Report 2021 |
October 31, 2021
Assets | |
Investments in securities, at value | |
Unaffiliated issuers (cost $709,728,394) | $746,626,308 |
Cash | 39,012 |
Margin deposits on: | |
Futures contracts | 532,000 |
Receivable for: | |
Investments sold | 5,123 |
Capital shares sold | 2,289,095 |
Interest | 7,242,323 |
Variation margin for futures contracts | 17,812 |
Expense reimbursement due from Investment Manager | 127 |
Prepaid expenses | 8,772 |
Trustees’ deferred compensation plan | 144,359 |
Total assets | 756,904,931 |
Liabilities | |
Payable for: | |
Investments purchased on a delayed delivery basis | 4,663,500 |
Capital shares purchased | 651,648 |
Distributions to shareholders | 1,473,176 |
Management services fees | 9,229 |
Distribution and/or service fees | 2,271 |
Transfer agent fees | 43,962 |
Compensation of board members | 40,761 |
Compensation of chief compliance officer | 13 |
Other expenses | 26,288 |
Trustees’ deferred compensation plan | 144,359 |
Total liabilities | 7,055,207 |
Net assets applicable to outstanding capital stock | $749,849,724 |
Represented by | |
Paid in capital | 714,236,557 |
Total distributable earnings (loss) | 35,613,167 |
Total - representing net assets applicable to outstanding capital stock | $749,849,724 |
Columbia Strategic California Municipal Income Fund | Annual Report 2021 | 21 |
October 31, 2021
Class A | |
Net assets | $346,280,150 |
Shares outstanding | 11,141,150 |
Net asset value per share | $31.08 |
Maximum sales charge | 3.00% |
Maximum offering price per share (calculated by dividing the net asset value per share by 1.0 minus the maximum sales charge for Class A shares) | $32.04 |
Advisor Class | |
Net assets | $6,418,458 |
Shares outstanding | 206,338 |
Net asset value per share | $31.11 |
Class C | |
Net assets | $19,828,206 |
Shares outstanding | 637,924 |
Net asset value per share | $31.08 |
Institutional Class | |
Net assets | $363,917,146 |
Shares outstanding | 11,704,074 |
Net asset value per share | $31.09 |
Institutional 2 Class | |
Net assets | $2,764,957 |
Shares outstanding | 88,803 |
Net asset value per share | $31.14 |
Institutional 3 Class | |
Net assets | $10,640,807 |
Shares outstanding | 340,439 |
Net asset value per share | $31.26 |
22 | Columbia Strategic California Municipal Income Fund | Annual Report 2021 |
Year Ended October 31, 2021
Net investment income | |
Income: | |
Dividends — unaffiliated issuers | $2,682 |
Interest | 21,171,807 |
Total income | 21,174,489 |
Expenses: | |
Management services fees | 3,108,218 |
Distribution and/or service fees | |
Class A | 852,859 |
Class C | 220,622 |
Transfer agent fees | |
Class A | 259,057 |
Advisor Class | 4,259 |
Class C | 16,739 |
Institutional Class | 231,914 |
Institutional 2 Class | 1,526 |
Institutional 3 Class | 664 |
Compensation of board members | 31,229 |
Custodian fees | 10,309 |
Printing and postage fees | 26,125 |
Registration fees | 17,979 |
Audit fees | 29,500 |
Legal fees | 17,684 |
Compensation of chief compliance officer | 181 |
Other | 23,496 |
Total expenses | 4,852,361 |
Fees waived or expenses reimbursed by Investment Manager and its affiliates | (103,310) |
Fees waived by distributor | |
Class A | (170,633) |
Class C | (66,210) |
Expense reduction | (260) |
Total net expenses | 4,511,948 |
Net investment income | 16,662,541 |
Realized and unrealized gain (loss) — net | |
Net realized gain (loss) on: | |
Investments — unaffiliated issuers | 1,556,389 |
Futures contracts | (1,941,932) |
Net realized loss | (385,543) |
Net change in unrealized appreciation (depreciation) on: | |
Investments — unaffiliated issuers | 6,148,716 |
Futures contracts | 10,723 |
Net change in unrealized appreciation (depreciation) | 6,159,439 |
Net realized and unrealized gain | 5,773,896 |
Net increase in net assets resulting from operations | $22,436,437 |
Columbia Strategic California Municipal Income Fund | Annual Report 2021 | 23 |
Year Ended October 31, 2021 | Year Ended October 31, 2020 | |
Operations | ||
Net investment income | $16,662,541 | $16,338,244 |
Net realized gain (loss) | (385,543) | 2,626,362 |
Net change in unrealized appreciation (depreciation) | 6,159,439 | (4,868,297) |
Net increase in net assets resulting from operations | 22,436,437 | 14,096,309 |
Distributions to shareholders | ||
Net investment income and net realized gains | ||
Class A | (9,312,102) | (12,245,624) |
Advisor Class | (166,820) | (208,014) |
Class C | (504,032) | (937,701) |
Institutional Class | (8,784,913) | (8,232,710) |
Institutional 2 Class | (75,158) | (127,101) |
Institutional 3 Class | (280,494) | (287,563) |
Total distributions to shareholders | (19,123,519) | (22,038,713) |
Increase in net assets from capital stock activity | 117,508,991 | 49,494,870 |
Total increase in net assets | 120,821,909 | 41,552,466 |
Net assets at beginning of year | 629,027,815 | 587,475,349 |
Net assets at end of year | $749,849,724 | $629,027,815 |
24 | Columbia Strategic California Municipal Income Fund | Annual Report 2021 |
Year Ended | Year Ended | |||
October 31, 2021 | October 31, 2020 | |||
Shares | Dollars ($) | Shares(a) | Dollars ($) | |
Capital stock activity | ||||
Class A | ||||
Subscriptions | 1,669,589 | 52,579,109 | 1,166,360 | 36,105,850 |
Distributions reinvested | 249,597 | 7,839,033 | 331,128 | 10,203,525 |
Redemptions | (1,471,663) | (46,235,237) | (1,982,048) | (60,373,410) |
Net increase (decrease) | 447,523 | 14,182,905 | (484,560) | (14,064,035) |
Advisor Class | ||||
Subscriptions | 152,743 | 4,820,360 | 97,249 | 3,005,338 |
Distributions reinvested | 5,297 | 166,515 | 6,721 | 207,624 |
Redemptions | (97,724) | (3,075,946) | (157,248) | (4,473,630) |
Net increase (decrease) | 60,316 | 1,910,929 | (53,278) | (1,260,668) |
Class C | ||||
Subscriptions | 80,679 | 2,533,992 | 205,489 | 6,325,231 |
Distributions reinvested | 14,047 | 441,031 | 21,835 | 672,864 |
Redemptions | (228,115) | (7,181,925) | (465,276) | (14,280,915) |
Net decrease | (133,389) | (4,206,902) | (237,952) | (7,282,820) |
Institutional Class | ||||
Subscriptions | 4,891,749 | 154,009,974 | 4,262,955 | 131,703,795 |
Distributions reinvested | 163,010 | 5,122,037 | 167,277 | 5,157,922 |
Redemptions | (1,794,004) | (56,291,837) | (2,156,268) | (65,475,173) |
Net increase | 3,260,755 | 102,840,174 | 2,273,964 | 71,386,544 |
Institutional 2 Class | ||||
Subscriptions | 30,507 | 955,518 | 16,612 | 511,648 |
Distributions reinvested | 2,379 | 74,866 | 4,106 | 126,727 |
Redemptions | (17,998) | (566,540) | (52,707) | (1,656,606) |
Net increase (decrease) | 14,888 | 463,844 | (31,989) | (1,018,231) |
Institutional 3 Class | ||||
Subscriptions | 121,159 | 3,832,501 | 108,450 | 3,356,620 |
Distributions reinvested | 8,867 | 280,073 | 9,252 | 286,718 |
Redemptions | (56,741) | (1,794,533) | (63,021) | (1,909,258) |
Net increase | 73,285 | 2,318,041 | 54,681 | 1,734,080 |
Total net increase | 3,723,378 | 117,508,991 | 1,520,866 | 49,494,870 |
(a) | Share activity has been adjusted on a retroactive basis to reflect a 4 to 1 reverse stock split completed after the close of business on September 11, 2020. |
Columbia Strategic California Municipal Income Fund | Annual Report 2021 | 25 |
Net asset value, beginning of period | Net investment income | Net realized and unrealized gain (loss) | Total from investment operations | Distributions from net investment income | Distributions from net realized gains | Total distributions to shareholders | |
Class A(c) | |||||||
Year Ended 10/31/2021 | $30.83 | 0.74 | 0.37 | 1.11 | (0.74) | (0.12) | (0.86) |
Year Ended 10/31/2020 | $31.12 | 0.81 | 0.01(e) | 0.82 | (0.81) | (0.30) | (1.11) |
Year Ended 10/31/2019 | $29.49 | 1.00 | 1.71 | 2.71 | (1.00) | (0.08) | (1.08) |
Year Ended 10/31/2018 | $30.87 | 1.08 | (1.26) | (0.18) | (1.04) | (0.16) | (1.20) |
Year Ended 10/31/2017 | $31.74 | 1.12 | (0.67) | 0.45 | (1.12) | (0.20) | (1.32) |
Advisor Class(c) | |||||||
Year Ended 10/31/2021 | $30.86 | 0.80 | 0.37 | 1.17 | (0.80) | (0.12) | (0.92) |
Year Ended 10/31/2020 | $31.14 | 0.89 | 0.01(e) | 0.90 | (0.88) | (0.30) | (1.18) |
Year Ended 10/31/2019 | $29.50 | 1.04 | 1.72 | 2.76 | (1.04) | (0.08) | (1.12) |
Year Ended 10/31/2018 | $30.88 | 1.16 | (1.26) | (0.10) | (1.12) | (0.16) | (1.28) |
Year Ended 10/31/2017 | $31.75 | 1.16 | (0.63) | 0.53 | (1.20) | (0.20) | (1.40) |
Class C(c) | |||||||
Year Ended 10/31/2021 | $30.83 | 0.58 | 0.37 | 0.95 | (0.58) | (0.12) | (0.70) |
Year Ended 10/31/2020 | $31.12 | 0.67 | 0.01(e) | 0.68 | (0.67) | (0.30) | (0.97) |
Year Ended 10/31/2019 | $29.49 | 0.84 | 1.71 | 2.55 | (0.84) | (0.08) | (0.92) |
Year Ended 10/31/2018 | $30.87 | 0.92 | (1.22) | (0.30) | (0.92) | (0.16) | (1.08) |
Year Ended 10/31/2017 | $31.75 | 0.96 | (0.68) | 0.28 | (0.96) | (0.20) | (1.16) |
Institutional Class(c) | |||||||
Year Ended 10/31/2021 | $30.85 | 0.80 | 0.36 | 1.16 | (0.80) | (0.12) | (0.92) |
Year Ended 10/31/2020 | $31.13 | 0.88 | 0.02(e) | 0.90 | (0.88) | (0.30) | (1.18) |
Year Ended 10/31/2019 | $29.50 | 1.08 | 1.67 | 2.75 | (1.04) | (0.08) | (1.12) |
Year Ended 10/31/2018 | $30.88 | 1.12 | (1.22) | (0.10) | (1.12) | (0.16) | (1.28) |
Year Ended 10/31/2017 | $31.76 | 1.20 | (0.68) | 0.52 | (1.20) | (0.20) | (1.40) |
Institutional 2 Class(c) | |||||||
Year Ended 10/31/2021 | $30.89 | 0.81 | 0.37 | 1.18 | (0.81) | (0.12) | (0.93) |
Year Ended 10/31/2020 | $31.18 | 0.90 | 0.00(e),(h) | 0.90 | (0.89) | (0.30) | (1.19) |
Year Ended 10/31/2019 | $29.54 | 1.00 | 1.80 | 2.80 | (1.08) | (0.08) | (1.16) |
Year Ended 10/31/2018 | $30.92 | 1.16 | (1.22) | (0.06) | (1.16) | (0.16) | (1.32) |
Year Ended 10/31/2017 | $31.80 | 1.20 | (0.68) | 0.52 | (1.20) | (0.20) | (1.40) |
26 | Columbia Strategic California Municipal Income Fund | Annual Report 2021 |
Net asset value, end of period | Total return | Total gross expense ratio to average net assets(a) | Total net expense ratio to average net assets(a),(b) | Net investment income ratio to average net assets | Portfolio turnover | Net assets, end of period (000’s) | |
Class A(c) | |||||||
Year Ended 10/31/2021 | $31.08 | 3.61% | 0.80% | 0.74%(d) | 2.35% | 14% | $346,280 |
Year Ended 10/31/2020 | $30.83 | 2.69% | 0.81% | 0.78%(d) | 2.64% | 30% | $329,728 |
Year Ended 10/31/2019 | $31.12 | 9.31% | 0.82%(f) | 0.80%(d),(f) | 3.26% | 37% | $347,854 |
Year Ended 10/31/2018 | $29.49 | (0.62%) | 0.82% | 0.82%(d) | 3.52% | 13% | $323,725 |
Year Ended 10/31/2017 | $30.87 | 1.49% | 0.82%(g) | 0.81%(d),(g) | 3.61% | 17% | $339,354 |
Advisor Class(c) | |||||||
Year Ended 10/31/2021 | $31.11 | 3.82% | 0.55% | 0.54%(d) | 2.55% | 14% | $6,418 |
Year Ended 10/31/2020 | $30.86 | 3.03% | 0.56% | 0.54%(d) | 2.88% | 30% | $4,506 |
Year Ended 10/31/2019 | $31.14 | 9.59% | 0.57%(f) | 0.54%(d),(f) | 3.37% | 37% | $6,206 |
Year Ended 10/31/2018 | $29.50 | (0.38%) | 0.57% | 0.57%(d) | 3.76% | 13% | $1,363 |
Year Ended 10/31/2017 | $30.88 | 1.75% | 0.57% | 0.56%(d) | 3.82% | 17% | $3,231 |
Class C(c) | |||||||
Year Ended 10/31/2021 | $31.08 | 3.09% | 1.55% | 1.24%(d) | 1.86% | 14% | $19,828 |
Year Ended 10/31/2020 | $30.83 | 2.22% | 1.56% | 1.24%(d) | 2.19% | 30% | $23,783 |
Year Ended 10/31/2019 | $31.12 | 8.82% | 1.57%(f) | 1.25%(d),(f) | 2.82% | 37% | $31,410 |
Year Ended 10/31/2018 | $29.49 | (1.07%) | 1.57% | 1.27%(d) | 3.07% | 13% | $35,145 |
Year Ended 10/31/2017 | $30.87 | 1.03% | 1.57%(g) | 1.26%(d),(g) | 3.16% | 17% | $46,521 |
Institutional Class(c) | |||||||
Year Ended 10/31/2021 | $31.09 | 3.78% | 0.55% | 0.54%(d) | 2.54% | 14% | $363,917 |
Year Ended 10/31/2020 | $30.85 | 3.00% | 0.56% | 0.54%(d) | 2.87% | 30% | $260,443 |
Year Ended 10/31/2019 | $31.13 | 9.58% | 0.57%(f) | 0.55%(d),(f) | 3.49% | 37% | $192,055 |
Year Ended 10/31/2018 | $29.50 | (0.37%) | 0.57% | 0.57%(d) | 3.77% | 13% | $143,156 |
Year Ended 10/31/2017 | $30.88 | 1.74% | 0.57%(g) | 0.56%(d),(g) | 3.86% | 17% | $120,839 |
Institutional 2 Class(c) | |||||||
Year Ended 10/31/2021 | $31.14 | 3.83% | 0.54% | 0.52% | 2.57% | 14% | $2,765 |
Year Ended 10/31/2020 | $30.89 | 2.89% | 0.54% | 0.52% | 2.92% | 30% | $2,283 |
Year Ended 10/31/2019 | $31.18 | 9.59% | 0.56%(f) | 0.53%(f) | 3.29% | 37% | $3,302 |
Year Ended 10/31/2018 | $29.54 | (0.21%) | 0.56% | 0.55% | 3.80% | 13% | $196 |
Year Ended 10/31/2017 | $30.92 | 1.75% | 0.55%(g) | 0.53%(g) | 3.95% | 17% | $78 |
Columbia Strategic California Municipal Income Fund | Annual Report 2021 | 27 |
Net asset value, beginning of period | Net investment income | Net realized and unrealized gain (loss) | Total from investment operations | Distributions from net investment income | Distributions from net realized gains | Total distributions to shareholders | |
Institutional 3 Class(c) | |||||||
Year Ended 10/31/2021 | $31.01 | 0.82 | 0.38 | 1.20 | (0.83) | (0.12) | (0.95) |
Year Ended 10/31/2020 | $31.29 | 0.91 | 0.02(e) | 0.93 | (0.91) | (0.30) | (1.21) |
Year Ended 10/31/2019 | $29.65 | 1.08 | 1.72 | 2.80 | (1.08) | (0.08) | (1.16) |
Year Ended 10/31/2018 | $31.03 | 1.16 | (1.22) | (0.06) | (1.16) | (0.16) | (1.32) |
Year Ended 10/31/2017(i) | $30.52 | 0.80 | 0.51(e) | 1.31 | (0.80) | — | (0.80) |
Notes to Financial Highlights | |
(a) | 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. |
(b) | Total net expenses include the impact of certain fee waivers/expense reimbursements made by the Investment Manager and certain of its affiliates, if applicable. |
(c) | Per share amounts have been adjusted on a retroactive basis to reflect a 4 to 1 reverse stock split completed after the close of business on September 11, 2020. |
(d) | The benefits derived from expense reductions had an impact of less than 0.01%. |
(e) | 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. |
(f) | Ratios include interfund lending expense which is less than 0.01%. |
(g) | Expenses have been reduced due to a reimbursement of expenses overbilled by a third party. If the reimbursement had been excluded, the expense ratios would have been higher by the percentages shown for each class in the table below. All fee waivers and expense reimbursements by the Investment Manager and its affiliates were applied before giving effect to this third party reimbursement. |
Year Ended | Class A | Class C | Institutional Class | Institutional 2 Class |
10/31/2017 | 0.01% | 0.01% | 0.01% | 0.01% |
(h) | Rounds to zero. |
(i) | Institutional 3 Class shares commenced operations on March 1, 2017. Per share data and total return reflect activity from that date. |
(j) | Annualized. |
28 | Columbia Strategic California Municipal Income Fund | Annual Report 2021 |
Net asset value, end of period | Total return | Total gross expense ratio to average net assets(a) | Total net expense ratio to average net assets(a),(b) | Net investment income ratio to average net assets | Portfolio turnover | Net assets, end of period (000’s) | |
Institutional 3 Class(c) | |||||||
Year Ended 10/31/2021 | $31.26 | 3.88% | 0.48% | 0.47% | 2.62% | 14% | $10,641 |
Year Ended 10/31/2020 | $31.01 | 3.07% | 0.49% | 0.47% | 2.94% | 30% | $8,284 |
Year Ended 10/31/2019 | $31.29 | 9.63% | 0.50%(f) | 0.48%(f) | 3.55% | 37% | $6,648 |
Year Ended 10/31/2018 | $29.65 | (0.28%) | 0.50% | 0.50% | 3.85% | 13% | $3,905 |
Year Ended 10/31/2017(i) | $31.03 | 4.34% | 0.52%(j) | 0.51%(j) | 3.93%(j) | 17% | $3,187 |
Columbia Strategic California Municipal Income Fund | Annual Report 2021 | 29 |
October 31, 2021
30 | Columbia Strategic California Municipal Income Fund | Annual Report 2021 |
October 31, 2021
Columbia Strategic California Municipal Income Fund | Annual Report 2021 | 31 |
October 31, 2021
32 | Columbia Strategic California Municipal Income Fund | Annual Report 2021 |
October 31, 2021
Asset derivatives | ||
Risk exposure category | Statement of assets and liabilities location | Fair value ($) |
Interest rate risk | Component of total distributable earnings (loss) — unrealized appreciation on futures contracts | 67,203* |
Liability derivatives | ||
Risk exposure category | Statement of assets and liabilities location | Fair value ($) |
Interest rate risk | Component of total distributable earnings (loss) — unrealized depreciation on futures contracts | 47,275* |
* | Includes cumulative appreciation (depreciation) as reported in the tables following the Portfolio of Investments. Only the current day’s variation margin is reported in receivables or payables in the Statement of Assets and Liabilities. |
Amount of realized gain (loss) on derivatives recognized in income | |
Risk exposure category | Futures contracts ($) |
Interest rate risk | (1,941,932) |
Change in unrealized appreciation (depreciation) on derivatives recognized in income | |
Risk exposure category | Futures contracts ($) |
Interest rate risk | 10,723 |
Derivative instrument | Average notional amounts ($)* |
Futures contracts — short | 33,655,532 |
* | Based on the ending quarterly outstanding amounts for the year ended October 31, 2021. |
Columbia Strategic California Municipal Income Fund | Annual Report 2021 | 33 |
October 31, 2021
34 | Columbia Strategic California Municipal Income Fund | Annual Report 2021 |
October 31, 2021
Effective rate (%) | |
Class A | 0.08 |
Advisor Class | 0.08 |
Class C | 0.08 |
Institutional Class | 0.08 |
Institutional 2 Class | 0.06 |
Institutional 3 Class | 0.01 |
Columbia Strategic California Municipal Income Fund | Annual Report 2021 | 35 |
October 31, 2021
Front End (%) | CDSC (%) | Amount ($) | |
Class A | 3.00 | 0.75(a) | 77,579 |
Class C | — | 1.00(b) | 1,086 |
(a) | This charge is imposed on certain investments of $500,000 or more if redeemed within 12 months after purchase. |
(b) | This charge applies to redemptions within 12 months after purchase, with certain limited exceptions. |
36 | Columbia Strategic California Municipal Income Fund | Annual Report 2021 |
October 31, 2021
Fee rate(s) contractual through February 28, 2022 | |
Class A | 0.79% |
Advisor Class | 0.54 |
Class C | 1.54 |
Institutional Class | 0.54 |
Institutional 2 Class | 0.52 |
Institutional 3 Class | 0.47 |
Undistributed net investment income ($) | Accumulated net realized (loss) ($) | Paid in capital ($) |
744 | (744) | — |
Columbia Strategic California Municipal Income Fund | Annual Report 2021 | 37 |
October 31, 2021
Year Ended October 31, 2021 | Year Ended October 31, 2020 | ||||||
Ordinary income ($) | Tax-exempt income ($) | Long-term capital gains ($) | Total ($) | Ordinary income ($) | Tax-exempt income ($) | Long-term capital gains ($) | Total ($) |
1,148,949 | 16,757,298 | 1,217,272 | 19,123,519 | 1,837,011 | 16,387,762 | 3,813,940 | 22,038,713 |
Undistributed ordinary income ($) | Undistributed tax- exempt income ($) | Undistributed long-term capital gains ($) | Capital loss carryforwards ($) | Net unrealized appreciation ($) |
1,329,088 | 3,376,429 | 516,353 | — | 32,048,418 |
Federal tax cost ($) | Gross unrealized appreciation ($) | Gross unrealized (depreciation) ($) | Net unrealized appreciation ($) |
714,597,818 | 37,428,962 | (5,380,544) | 32,048,418 |
38 | Columbia Strategic California Municipal Income Fund | Annual Report 2021 |
October 31, 2021
Columbia Strategic California Municipal Income Fund | Annual Report 2021 | 39 |
October 31, 2021
40 | Columbia Strategic California Municipal Income Fund | Annual Report 2021 |
October 31, 2021
Columbia Strategic California Municipal Income Fund | Annual Report 2021 | 41 |
42 | Columbia Strategic California Municipal Income Fund | Annual Report 2021 |
Capital gain dividend | Exempt- interest dividends |
$594,771 | 99.99% |
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex* overseen | Other directorships held by Trustee during the past five years |
George S. Batejan c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1953 | Trustee since 2017 | Executive Vice President, Global Head of Technology and Operations, Janus Capital Group, Inc., 2010-2016 | 171 | Former Chairman of the Board, NICSA (National Investment Company Services Association) (Executive Committee, Nominating Committee and Governance Committee), 2014-2016; former Director, Intech Investment Management, 2011-2016; former Board Member, Metro Denver Chamber of Commerce, 2015-2016; former Advisory Board Member, University of Colorado Business School, 2015-2018 |
Columbia Strategic California Municipal Income Fund | Annual Report 2021 | 43 |
Independent trustees (continued)
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex* overseen | Other directorships held by Trustee during the past five years |
Kathleen Blatz c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1954 | Trustee since 2006 | Attorney; specializing in arbitration and mediation; Chief Justice, Minnesota Supreme Court, 1998-2006; Associate Justice, Minnesota Supreme Court, 1996-1998; Fourth Judicial District Court Judge, Hennepin County, 1994-1996; Attorney in private practice and public service, 1984-1993; State Representative, Minnesota House of Representatives, 1979-1993, which included service on the Tax and Financial Institutions and Insurance Committees; Member and Interim Chair, Minnesota Sports Facilities Authority, January 2017-July 2017; Interim President and Chief Executive Officer, Blue Cross and Blue Shield of Minnesota (health care insurance), February-July 2018 | 171 | Trustee, BlueCross BlueShield of Minnesota since 2009 (Chair of the Business Development Committee - 2014-2017; Chair of the Governance Committee, 2017-2019); former Member and Chair of the Board, Minnesota Sports Facilities Authority, January 2017-July 2017; Director, Robina Foundation, 2009-2020 (Chair, 2014-2020) |
Pamela G. Carlton c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1954 | Trustee since 2007 | President, Springboard — Partners in Cross Cultural Leadership (consulting company) since 2003; Managing Director of US Equity Research, JP Morgan Chase, 1999-2003; Director of US Equity Research, Chase Asset Management, 1996-1999; Co-Director Latin America Research, 1993-1996, COO Global Research, 1992-1996, Co-Director of US Research, 1991-1992, Investment Banker, Morgan Stanley, 1982-1991; Attorney, Cleary Gottlieb Steen & Hamilton LLP, 1980-1982 | 171 | Trustee, New York Presbyterian Hospital Board (Executive Committee and Chair of People Committee) since 1996; Director, DR Bank (Audit Committee) since 2017; Director, Evercore Inc. (Audit Committee, Nominating and Governance Committee) since 2019 |
Janet Langford Carrig c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1957 | Trustee since 1996 | Senior Vice President, General Counsel and Corporate Secretary, ConocoPhillips (independent energy company), September 2007-October 2018 | 169 | Director, EQT Corporation (natural gas producer) since 2019; Director, Whiting Petroleum Corporation (independent oil and gas company) since 2020 |
J. Kevin Connaughton c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1964 | Trustee since 2020(a) | Member, FINRA National Adjudicatory Council since January 2020; Adjunct Professor of Finance, Bentley University since January 2018; Managing Director and General Manager of Mutual Fund Products, Columbia Management Investment Advisers, LLC, May 2010-February 2015; President, Columbia Funds, 2008-2015; and senior officer of Columbia Funds and affiliated funds, 2003-2015 | 169 | Director, The Autism Project, since March 2015; former Member of the Investment Committee, St. Michael’s College, November 2015-February 2020; former Trustee, St. Michael’s College, June 2017-September 2019; former Trustee, New Century Portfolios, January 2015-December 2017 |
Olive M. Darragh c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1962 | Trustee since 2020(a) | Managing Director of Darragh Inc. (strategy and talent management consulting firm) since 2010; Founder and CEO, Zolio, Inc. (investment management talent identification platform) since 2004; Partner, Tudor Investments, 2004-2010; Senior Partner, McKinsey & Company (consulting), 2001-2004 | 169 | Former Director, University of Edinburgh Business School (Member of US Board); former Director, Boston Public Library Foundation |
44 | Columbia Strategic California Municipal Income Fund | Annual Report 2021 |
Independent trustees (continued)
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex* overseen | Other directorships held by Trustee during the past five years |
Patricia M. Flynn c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1950 | Trustee since 2004 | Trustee Professor of Economics and Management, Bentley University since 1976 (also teaches and conducts research on corporate governance); Dean, McCallum Graduate School of Business, Bentley University, 1992-2002 | 171 | Trustee, MA Taxpayers Foundation since 1997; Board of Governors, Innovation Institute, MA Technology Collaborative, 2010-2019; Board of Directors, The MA Business Roundtable, 2003-2019 |
Brian J. Gallagher c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1954 | Trustee since 2017 | Retired; Partner with Deloitte & Touche LLP and its predecessors, 1977-2016 | 171 | Trustee, Catholic Schools Foundation since 2004 |
Douglas A. Hacker c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1955 | Co-Chair since 2021; Chair of CFST I and CFVIT since 2014; Trustee of CFST I and CFVIT since 1996 and CFST, CFST II, CFVST II, CET I and CET II since 2021 | Independent business executive since May 2006; Executive Vice President – Strategy of United Airlines, December 2002 - May 2006; President of UAL Loyalty Services (airline marketing company), September 2001-December 2002; Executive Vice President and Chief Financial Officer of United Airlines, July 1999-September 2001 | 169 | Director, Spartan Nash Company (food distributor); Director, Aircastle Limited (Chair of Audit Committee) (aircraft leasing); former Director, Nash Finch Company (food distributor), 2005-2013; former Director, SeaCube Container Leasing Ltd. (container leasing), 2010-2013; and former Director, Travelport Worldwide Limited (travel information technology), 2014-2019 |
Nancy T. Lukitsh c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1956 | Trustee since 2011 | Senior Vice President, Partner and Director of Marketing, Wellington Management Company, LLP (investment adviser), 1997-2010; Chair, Wellington Management Portfolios (commingled non-U.S. investment pools), 2007 -2010; Director, Wellington Trust Company, NA and other Wellington affiliates, 1997-2010 | 169 | None |
David M. Moffett c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1952 | Trustee since 2011 | Retired; Consultant to Bridgewater and Associates | 169 | Director, CSX Corporation (transportation suppliers); Director, Genworth Financial, Inc. (financial and insurance products and services); Director, PayPal Holdings Inc. (payment and data processing services); Trustee, University of Oklahoma Foundation; former Director, eBay Inc. (online trading community), 2007-2015; and former Director, CIT Bank, CIT Group Inc. (commercial and consumer finance), 2010-2016 |
Columbia Strategic California Municipal Income Fund | Annual Report 2021 | 45 |
Independent trustees (continued)
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex* overseen | Other directorships held by Trustee during the past five years |
Catherine James Paglia c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1952 | Co-Chair since 2021; Chair of CFST, CFST II, CFVST II, CET I and CET II since 2020; Trustee of CFST, CFST II and CFVST II since 2004 and CFST I and CFVIT since 2021 | Director, Enterprise Asset Management, Inc. (private real estate and asset management company) since September 1998; Managing Director and Partner, Interlaken Capital, Inc., 1989-1997; Vice President, 1982-1985, Principal, 1985-1987, Managing Director, 1987-1989, Morgan Stanley; Vice President, Investment Banking, 1980-1982, Associate, Investment Banking, Dean Witter Reynolds, Inc., 1976-1980 | 171 | Director, Valmont Industries, Inc. (irrigation systems manufacturer) since 2012; Trustee, Carleton College (on the Investment Committee); Trustee, Carnegie Endowment for International Peace (on the Investment Committee) |
Anthony M. Santomero c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1946 | Trustee since 2008 | Richard K. Mellon Professor Emeritus of Finance, The Wharton School, University of Pennsylvania, since 2002; Senior Advisor, McKinsey & Company (consulting), 2006-2008; President, Federal Reserve Bank of Philadelphia, 2000-2006; Professor of Finance, The Wharton School, University of Pennsylvania, 1972-2002 | 171 | Trustee, Penn Mutual Life Insurance Company since March 2008; Director, RenaissanceRe Holdings Ltd. since May 2008; former Director, Citigroup Inc. and Citibank, N.A., 2009-2019; former Trustee, BofA Funds Series Trust (11 funds), 2008-2011 |
Minor M. Shaw c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1947 | Trustee since 2003 | President, Micco LLC (private investments) since 2011; President, Micco Corp. (family investment business), 1998-2011 | 171 | Director, BlueCross BlueShield of South Carolina (Chair of Compensation Committee) since April 2008; Trustee, Hollingsworth Funds (on the Investment Committee) since 2016 (previously Board Chair from 2016-2019); Former Advisory Board member, Duke Energy Corp., 2016-2020; Chair of the Duke Endowment; Chair of Greenville – Spartanburg Airport Commission; former Trustee, BofA Funds Series Trust (11 funds), 2003-2011; former Director, Piedmont Natural Gas, 2004-2016; former Director, National Association of Corporate Directors, Carolinas Chapter, 2013-2018; Chair, Daniel-Mickel Foundation |
46 | Columbia Strategic California Municipal Income Fund | Annual Report 2021 |
Independent trustees (continued)
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex* overseen | Other directorships held by Trustee during the past five years |
Natalie A. Trunow c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1967 | Trustee since 2020(a) | Chief Executive Officer, Millennial Portfolio Solutions LLC (asset management and consulting services) since January 2016; Non-executive Member of the Investment Committee, Sarona Asset Management Inc. (private equity firm) since September 2019; Advisor, Horizon Investments (asset management and consulting services) since August 2018; Advisor, Paradigm Asset Management since November 2016; Director of Investments, Casey Family Programs, April 2016-September 2016; Senior Vice President and Chief Investment Officer, Calvert Investments, August 2008 - January 2016; Section Head and Portfolio Manager, General Motors Asset Management, June 1997-August 2008 | 169 | Director, Health Services for Children with Special Needs, Inc.; Director, Consumer Credit Counseling Services (formerly Guidewell Financial Solutions); Independent Director, Investment Committee, Sarona Asset Management |
Sandra Yeager c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1964 | Trustee since 2017 | Retired; President and founder, Hanoverian Capital, LLC (SEC registered investment advisor firm), 2008-2016; Managing Director, DuPont Capital, 2006-2008; Managing Director, Morgan Stanley Investment Management, 2004-2006; Senior Vice President, Alliance Bernstein, 1990-2004 | 171 | Director, NAPE Education Foundation, October 2016-October 2020 |
* | The term “Columbia Funds Complex” as used herein includes Columbia Seligman Premium Technology Growth Fund, Tri-Continental Corporation and each series of Columbia Fund Series Trust (CFST), Columbia Funds Series Trust I (CFST I), Columbia Funds Series Trust II (CFST II), Columbia ETF Trust I (CET I), Columbia ETF Trust II (CET II), Columbia Funds Variable Insurance Trust (CFVIT) and Columbia Funds Variable Series Trust II (CFVST II). Messrs. Batejan, Beckman, Gallagher and Santomero and Mses. Blatz, Carlton, Flynn, Paglia, Shaw and Yeager serve as a director of Columbia Seligman Premium Technology Growth Fund and Tri-Continental Corporation. |
(a) | J. Kevin Connaughton was appointed a consultant to the Independent Trustees of CFST I and CFVIT effective March 1, 2016. Natalie A. Trunow was appointed a consultant to the Independent Trustees of CFST I and CFVIT effective September 1, 2016. Olive M. Darragh was appointed a consultant to the Independent Trustees of CFST I and CFVIT effective June 10, 2019. Shareholders of the Funds elected Mr. Connaughton and Mses. Darragh and Trunow as Trustees of CFST, CFST I, CFST II, CET I, CET II, and CFVST II, effective January 1, 2021, and of CFVIT, effective July 1, 2020. |
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during the past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex overseen | Other directorships held by Trustee during the past five years |
Daniel J. Beckman c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1962 | Trustee since November 2021(a) | Vice President – Head of North America Product, Columbia Management Investment Advisers, LLC (since April 2015); officer of Columbia Funds and affiliated funds since 2020. | 171 | Director, Ameriprise Trust Company, since October 2016; Director, Columbia Management Investment Distributors, Inc. since November 2018 |
* | 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. |
(a) | Mr. Beckman serves as the President and Principal Executive Officer of the Columbia Funds (since 2021). |
Columbia Strategic California Municipal Income Fund | Annual Report 2021 | 47 |
The Board has appointed officers who are responsible for day-to-day business decisions based on policies it has established. The officers serve at the pleasure of the Board. The following table provides basic information about the Officers of the Fund as of the printing of this report, including principal occupations during the past five years, although their specific titles may have varied over the period. In addition to Mr. Beckman, who is the President and Principal Executive Officer, the Fund’s other officers are:
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 |
Michael G. Clarke 290 Congress Street Boston, MA 02210 1969 | Chief Financial Officer and Principal Financial Officer (2009) and Senior Vice President (2019) | Vice President, Head of North American Operations, and Co-Head of Global Operations, Columbia Management Investment Advisers, LLC, since June 2019 (previously Vice President – Accounting and Tax, May 2010 – May 2019); senior officer of Columbia Funds and affiliated funds since 2002. |
Joseph Beranek 5890 Ameriprise Financial Center Minneapolis, MN 55474 1965 | Treasurer and Chief Accounting Officer (Principal Accounting Officer) (2019) and Principal Financial Officer (2020), CFST, CFST I, CFST II, CFVIT and CFVST II; Assistant Treasurer, CET I and CET II | Vice President – Mutual Fund Accounting and Financial Reporting, Columbia Management Investment Advisers, LLC, since December 2018 and March 2017, respectively (previously Vice President – Pricing and Corporate Actions, May 2010 - March 2017). |
Marybeth Pilat 290 Congress Street Boston, MA 02210 1968 | Treasurer and Chief Accounting Officer (Principal Accounting Officer) and Principal Financial Officer (2020) for CET I and CET II; Assistant Treasurer, CFST, CFST I, CFST II, CFVIT and CFVST II | Vice President – Product Pricing and Administration, Columbia Management Investment Advisers, LLC, since May 2017; Director - Fund Administration, Calvert Investments, August 2015 – March 2017; Vice President - Fund Administration, Legg Mason, May 2015 - July 2015; Vice President - Fund Administration, Columbia Management Investment Advisers, LLC, May 2010 - April 2015. |
William F. Truscott 290 Congress Street Boston, MA 02210 1960 | Senior Vice President (2001) | Formerly, Trustee of Columbia Funds Complex until January 1, 2021; Chief Executive Officer, Global Asset Management, Ameriprise Financial, Inc. since September 2012; Chairman of the Board and President, Columbia Management Investment Advisers, LLC since July 2004 and February 2012, respectively; Chairman of the Board and Chief Executive Officer, Columbia Management Investment Distributors, Inc. since November 2008 and February 2012, respectively; Chairman of the Board and Director, Threadneedle Asset Management Holdings, Sàrl since March 2013 and December 2008, respectively; senior executive of various entities affiliated with Columbia Threadneedle. |
Christopher O. Petersen 5228 Ameriprise Financial Center Minneapolis, MN 55474 1970 | Senior Vice President and Assistant Secretary | Formerly, Trustee of Columbia Funds Complex until November 22, 2021; Senior Vice President and Assistant General Counsel, Ameriprise Financial, Inc. since September 2021 (previously Vice President and Lead Chief Counsel, January 2015 - September 2021); President and Principal Executive Officer of the Columbia Funds 2015 - 2021; officer of Columbia Funds and affiliated funds since 2007. |
Thomas P. McGuire 290 Congress Street Boston, MA 02210 1972 | Senior Vice President and Chief Compliance Officer (2012) | Vice President – Asset Management Compliance, Ameriprise Financial, Inc., since May 2010; Chief Compliance Officer, Columbia Acorn/Wanger Funds since December 2015; Chief Compliance Officer, Ameriprise Certificate Company September 2010 – September 2020. |
Colin Moore 290 Congress Street Boston, MA 02210 1958 | Senior Vice President (2010) | Executive Vice President and Global Chief Investment Officer, Ameriprise Financial, Inc., since July 2013; Executive Vice President and Global Chief Investment Officer, Columbia Management Investment Advisers, LLC since July 2013. |
Ryan C. Larrenaga 290 Congress Street Boston, MA 02210 1970 | Senior Vice President (2017), Chief Legal Officer (2017), and Secretary (2015) | Vice President and Chief Counsel, Ameriprise Financial, Inc. since August 2018 (previously Vice President and Group Counsel, August 2011 - August 2018); Chief Legal Officer, Columbia Acorn/Wanger Funds, since September 2020; officer of Columbia Funds and affiliated funds since 2005. |
48 | Columbia Strategic California Municipal Income Fund | Annual Report 2021 |
Fund officers (continued)
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 |
Michael E. DeFao 290 Congress Street Boston, MA 02210 1968 | Vice President (2011) and Assistant Secretary (2010) | Vice President and Chief Counsel, Ameriprise Financial, Inc. since May 2010; Vice President, Chief Legal Officer and Assistant Secretary, Columbia Management Investment Advisers, LLC since October 2021 (previously Vice President and Assistant Secretary, May 2010 – September 2021). |
Lyn Kephart-Strong 5228 Ameriprise Financial Center Minneapolis, MN 55474 1960 | Vice President (2015) | President, Columbia Management Investment Services Corp. since October 2014; Vice President & Resolution Officer, Ameriprise Trust Company since August 2009. |
• | Information on the investment performance of the Fund relative to the performance of a group of mutual funds determined to be comparable to the Fund by Broadridge, as well as performance relative to benchmarks; |
• | Information on the Fund’s management fees and total expenses, including information comparing the Fund’s expenses to those of a group of comparable mutual funds, as determined by Broadridge; |
Columbia Strategic California Municipal Income Fund | Annual Report 2021 | 49 |
• | The Investment Manager’s agreement to contractually limit or cap total operating expenses for the Fund so that total operating expenses (excluding certain fees and expenses, such as transaction costs and certain other investment related expenses, interest, taxes, acquired fund fees and expenses, and infrequent and/or unusual expenses) would not exceed a specified annual rate, as a percentage of the Fund’s net assets; |
• | Terms of the Management Agreement; |
• | Descriptions of other agreements and arrangements with affiliates of the Investment Manager relating to the operations of the Fund, including agreements with respect to the provision of transfer agency and shareholder services to the Fund; |
• | Descriptions of various services performed by the Investment Manager under the Management Agreement, including portfolio management and portfolio trading practices; |
• | Information regarding any recently negotiated management fees of similarly-managed portfolios of other institutional clients of the Investment Manager; |
• | Information regarding the resources of the Investment Manager, including information regarding senior management, portfolio managers and other personnel; |
• | Information regarding the capabilities of the Investment Manager with respect to compliance monitoring services; |
• | The profitability to the Investment Manager and its affiliates from their relationships with the Fund; and |
• | Report provided by the Board’s independent fee consultant, JDL Consultants, LLC (JDL). |
50 | Columbia Strategic California Municipal Income Fund | Annual Report 2021 |
Investment performance
Columbia Strategic California Municipal Income Fund | Annual Report 2021 | 51 |
Economies of scale
52 | Columbia Strategic California Municipal Income Fund | Annual Report 2021 |
columbiathreadneedleus.com/investor/. The Fund is distributed by Columbia Management Investment Distributors, Inc., member FINRA, and managed by Columbia Management Investment Advisers, LLC.
October 31, 2021
3 | |
5 | |
7 | |
8 | |
14 | |
16 | |
17 | |
20 | |
24 | |
33 | |
34 | |
34 | |
40 |
Average annual total returns (%) (for the period ended October 31, 2021) | |||||
Inception | 1 Year | 5 Years | 10 Years | ||
Class A | Excluding sales charges | 12/09/02 | 1.65 | 2.19 | 2.51 |
Including sales charges | -1.41 | 1.56 | 2.19 | ||
Advisor Class* | 03/19/13 | 1.91 | 2.45 | 2.76 | |
Class C | Excluding sales charges | 12/09/02 | 1.10 | 1.71 | 2.05 |
Including sales charges | 0.10 | 1.71 | 2.05 | ||
Institutional Class | 06/14/93 | 1.81 | 2.43 | 2.75 | |
Institutional 2 Class* | 03/01/16 | 1.96 | 2.51 | 2.80 | |
Institutional 3 Class* | 03/01/17 | 2.02 | 2.55 | 2.81 | |
Class V | Excluding sales charges | 06/26/00 | 1.76 | 2.29 | 2.61 |
Including sales charges | -3.08 | 1.31 | 2.11 | ||
Bloomberg 3-15 Year Blend Municipal Bond Index | 1.93 | 3.11 | 3.46 |
* | The returns shown for periods prior to the share class inception date (including returns for the Life of the Fund, if shown, which are since Fund inception) include the returns of the Fund’s oldest share class. These returns are adjusted to reflect any higher class-related operating expenses of the newer share classes, as applicable. Please visit columbiathreadneedleus.com/investor/investment-products/mutual-funds/appended-performance for more information. |
Columbia Massachusetts Intermediate Municipal Bond Fund | Annual Report 2021 | 3 |
Quality breakdown (%) (at October 31, 2021) | |
AAA rating | 6.4 |
AA rating | 54.9 |
A rating | 21.3 |
BBB rating | 13.9 |
BB rating | 3.5 |
Total | 100.0 |
4 | Columbia Massachusetts Intermediate Municipal Bond Fund | Annual Report 2021 |
Columbia Massachusetts Intermediate Municipal Bond Fund | Annual Report 2021 | 5 |
• | The Fund’s holdings of bonds with maturities of inside of two years and pre-refunded bonds produced modest total returns during the period that underperformed the benchmark. While we do not believe that there is anything inherently wrong with these holdings, they are just very short and/or very high-quality holdings that are low yielding. In our view, they are natural reinvestment candidates and are excellent sources of liquidity. |
• | Timing of a few Fund purchases was not ideal. Rates bottomed out in mid-February 2021 and again during late July. We were intentionally not very active during these periods as we believed the strong supply/demand technical environment was driving municipal bonds to potentially rich levels. However, we did purchase a few positions for the Fund that we felt were attractive. The Fund’s overall return in local general obligation (GO) bonds was hurt due to a purchase of Boston GOs in early December 2020. As rates drifted up during the remainder of the period, these positions became performance detractors. |
• | The Fund benefited from its overweight to lower investment grade rated issues across several sectors as lower quality and longer maturity bonds outperformed during the period. |
• | Holdings in continuing care retirement communities (CCRCs) did well as vaccinations were administered and operations returned to a more normal state, including a resumption in family member visits. |
• | The Fund’s two largest sector weights, hospitals and education, were positive contributors as well. Hospitals resumed elective surgeries and students returned to in-classroom learning. The top sector return of over 14% was generated in student housing as students returned to the University of Massachusetts Boston campus. |
• | Yield curve positioning was another bright spot for the Fund as longer intermediate maturities outperformed. The Fund was more than 11% overweight to bonds maturing in 8 years and longer versus the benchmark. |
• | Lastly, the Fund’s exposure to bonds with 4% coupons was a plus during the period. 4% coupon bonds offer additional yield and income versus traditional 5% coupon bonds. We increased the Fund’s exposure to this area during the year as we worked toward establishing a weighting in line with the benchmark. |
6 | Columbia Massachusetts Intermediate Municipal Bond Fund | Annual Report 2021 |
(Unaudited)
May 1, 2021 — October 31, 2021 | |||||||
Account value at the beginning of the period ($) | Account value at the end of the period ($) | Expenses paid during the period ($) | Fund’s annualized expense ratio (%) | ||||
Actual | Hypothetical | Actual | Hypothetical | Actual | Hypothetical | Actual | |
Class A | 1,000.00 | 1,000.00 | 998.90 | 1,020.89 | 4.04 | 4.08 | 0.81 |
Advisor Class | 1,000.00 | 1,000.00 | 1,000.20 | 1,022.14 | 2.79 | 2.82 | 0.56 |
Class C | 1,000.00 | 1,000.00 | 995.70 | 1,018.65 | 6.27 | 6.34 | 1.26 |
Institutional Class | 1,000.00 | 1,000.00 | 999.20 | 1,022.14 | 2.79 | 2.82 | 0.56 |
Institutional 2 Class | 1,000.00 | 1,000.00 | 1,000.40 | 1,022.44 | 2.49 | 2.52 | 0.50 |
Institutional 3 Class | 1,000.00 | 1,000.00 | 1,000.70 | 1,022.69 | 2.24 | 2.27 | 0.45 |
Class V | 1,000.00 | 1,000.00 | 999.40 | 1,021.39 | 3.54 | 3.58 | 0.71 |
Columbia Massachusetts Intermediate Municipal Bond Fund | Annual Report 2021 | 7 |
October 31, 2021
Municipal Bonds 98.2% | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Airport 5.3% | ||||
Massachusetts Port Authority(a) | ||||
Refunding Revenue Bonds | ||||
BosFuel Project | ||||
Series 2019A | ||||
07/01/2038 | 5.000% | 1,000,000 | 1,223,367 | |
Series 2021B | ||||
07/01/2038 | 5.000% | 850,000 | 1,082,553 | |
Revenue Bonds | ||||
Series 2019C | ||||
07/01/2027 | 5.000% | 1,865,000 | 2,267,506 | |
07/01/2035 | 5.000% | 2,000,000 | 2,469,935 | |
Series 2021E | ||||
07/01/2038 | 5.000% | 1,000,000 | 1,273,591 | |
Massachusetts Port Authority | ||||
Refunding Revenue Bonds | ||||
Series 2014C | ||||
07/01/2031 | 5.000% | 1,900,000 | 2,119,337 | |
Revenue Bonds | ||||
Series 2015A | ||||
07/01/2026 | 5.000% | 600,000 | 694,766 | |
Total | 11,131,055 | |||
Charter Schools 1.9% | ||||
Massachusetts Development Finance Agency | ||||
Refunding Revenue Bonds | ||||
Foxborough Regional Charter | ||||
Series 2017 | ||||
07/01/2037 | 5.000% | 1,800,000 | 2,019,046 | |
International Charter School | ||||
Series 2015 | ||||
04/15/2025 | 5.000% | 410,000 | 441,122 | |
04/15/2033 | 5.000% | 1,335,000 | 1,477,902 | |
Total | 3,938,070 | |||
Higher Education 22.8% | ||||
Massachusetts Development Finance Agency | ||||
Refunding Revenue Bonds | ||||
Babson College | ||||
Series 2015A | ||||
10/01/2025 | 5.000% | 600,000 | 698,694 | |
Boston University | ||||
Series 2006BB2 | ||||
10/01/2037 | 4.000% | 2,120,000 | 2,407,853 | |
Brandeis University | ||||
Series 2018R | ||||
10/01/2035 | 5.000% | 1,005,000 | 1,238,198 | |
10/01/2036 | 5.000% | 1,140,000 | 1,401,599 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Series 2019 | ||||
10/01/2036 | 5.000% | 1,535,000 | 1,899,194 | |
College of the Holy Cross | ||||
Series 2016A | ||||
09/01/2034 | 5.000% | 500,000 | 590,031 | |
Emerson College | ||||
Series 2017A | ||||
01/01/2033 | 5.000% | 1,500,000 | 1,788,349 | |
01/01/2034 | 5.000% | 1,000,000 | 1,190,391 | |
Harvard University | ||||
Series 2020A | ||||
10/15/2028 | 5.000% | 500,000 | 638,429 | |
Simmons College | ||||
Series 2015K-1 | ||||
10/01/2026 | 5.000% | 3,005,000 | 3,479,559 | |
10/01/2028 | 5.000% | 1,100,000 | 1,260,671 | |
Simmons University | ||||
Series 2018L | ||||
10/01/2034 | 5.000% | 500,000 | 601,785 | |
10/01/2035 | 5.000% | 455,000 | 546,978 | |
Suffolk University | ||||
Series 2019 | ||||
07/01/2035 | 5.000% | 870,000 | 1,054,246 | |
Tufts University | ||||
Series 2015Q | ||||
08/15/2030 | 5.000% | 1,000,000 | 1,152,356 | |
Western New England University | ||||
Series 2015 | ||||
09/01/2032 | 5.000% | 500,000 | 564,282 | |
09/01/2033 | 5.000% | 1,225,000 | 1,381,133 | |
09/01/2034 | 5.000% | 1,285,000 | 1,446,868 | |
Woods Hole Oceanographic Institution | ||||
Series 2018 | ||||
06/01/2036 | 5.000% | 650,000 | 798,257 | |
Worcester Polytechnic Institute | ||||
Series 2016 | ||||
09/01/2034 | 5.000% | 500,000 | 590,548 | |
Series 2017 | ||||
09/01/2037 | 5.000% | 290,000 | 350,058 | |
Revenue Bonds | ||||
Babson College | ||||
Series 2017 | ||||
10/01/2032 | 5.000% | 885,000 | 1,077,333 | |
10/01/2033 | 5.000% | 900,000 | 1,095,764 | |
Bentley University | ||||
Series 2016 | ||||
07/01/2035 | 4.000% | 1,000,000 | 1,118,667 | |
07/01/2036 | 4.000% | 1,000,000 | 1,116,782 |
8 | Columbia Massachusetts Intermediate Municipal Bond Fund | Annual Report 2021 |
October 31, 2021
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Boston University | ||||
Series 2019DD (Mandatory Put 04/01/24) | ||||
10/01/2042 | 5.000% | 1,000,000 | 1,084,631 | |
Brandeis University | ||||
Series 2019S-2 | ||||
10/01/2033 | 5.000% | 1,150,000 | 1,431,312 | |
Simmons College | ||||
Series 2006H | ||||
10/01/2033 | 5.250% | 1,000,000 | 1,290,123 | |
Series 2013J | ||||
10/01/2024 | 5.250% | 500,000 | 545,057 | |
10/01/2025 | 5.500% | 450,000 | 491,721 | |
Worcester Polytechnic Institute | ||||
Series 2019 | ||||
09/01/2038 | 5.000% | 865,000 | 1,072,789 | |
Massachusetts Health & Educational Facilities Authority | ||||
Revenue Bonds | ||||
Boston College | ||||
Series 2008M-1 | ||||
06/01/2024 | 5.500% | 3,000,000 | 3,396,513 | |
Northeastern University | ||||
Series 2008T-1 | ||||
10/01/2028 | 5.000% | 1,000,000 | 1,042,133 | |
Series 2008T-2 | ||||
10/01/2029 | 5.000% | 4,045,001 | 4,214,666 | |
University of Massachusetts Building Authority | ||||
Refunding Revenue Bonds | ||||
Series 2021-1 | ||||
11/01/2029 | 5.000% | 1,200,000 | 1,558,274 | |
Revenue Bonds | ||||
Senior Lien | ||||
Series 2020-1 | ||||
11/01/2032 | 5.000% | 2,000,000 | 2,564,381 | |
Total | 48,179,625 | |||
Hospital 17.3% | ||||
Massachusetts Development Finance Agency | ||||
Refunding Revenue Bonds | ||||
Berkshire Health System | ||||
Series 2021 | ||||
10/01/2029 | 5.000% | 250,000 | 321,053 | |
CareGroup | ||||
Series 2015H-1 | ||||
07/01/2030 | 5.000% | 1,170,000 | 1,340,732 | |
Series 2016I | ||||
07/01/2033 | 5.000% | 3,000,000 | 3,514,868 | |
Lahey Clinic Obligation | ||||
Series 2015F | ||||
08/15/2031 | 5.000% | 3,000,000 | 3,446,069 | |
08/15/2034 | 5.000% | 2,250,000 | 2,576,418 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Partners HealthCare System | ||||
Series 2016 | ||||
07/01/2031 | 5.000% | 3,000,000 | 3,566,255 | |
Series 2020 | ||||
07/01/2037 | 5.000% | 2,250,000 | 2,839,146 | |
Series 2020 (Mandatory Put 01/31/30) | ||||
07/01/2050 | 5.000% | 4,000,000 | 5,149,194 | |
Series 2019A (AGM) | ||||
07/01/2034 | 5.000% | 1,200,000 | 1,465,133 | |
Series 2019O | ||||
12/01/2035 | 5.000% | 175,000 | 217,030 | |
Series 2021G | ||||
07/01/2038 | 5.000% | 225,000 | 288,389 | |
UMass Memorial Healthcare | ||||
Series 2016I | ||||
07/01/2030 | 5.000% | 2,295,000 | 2,679,631 | |
Series 2017 | ||||
07/01/2031 | 5.000% | 1,000,000 | 1,194,549 | |
Revenue Bonds | ||||
Baystate Medical Center | ||||
Series 2014N | ||||
07/01/2028 | 5.000% | 1,000,000 | 1,106,039 | |
07/01/2034 | 5.000% | 1,500,000 | 1,655,712 | |
CareGroup | ||||
Series 2018J1 | ||||
07/01/2036 | 5.000% | 985,000 | 1,197,672 | |
07/01/2037 | 5.000% | 1,035,000 | 1,255,849 | |
Children’s Hospital | ||||
Series 2014P | ||||
10/01/2031 | 5.000% | 1,200,000 | 1,354,809 | |
Milford Regional Medical Center | ||||
Series 2014F | ||||
07/15/2026 | 5.000% | 315,000 | 336,119 | |
Southcoast Health System Obligation Group | ||||
Series 2013 | ||||
07/01/2027 | 5.000% | 1,050,000 | 1,121,047 | |
Total | 36,625,714 | |||
Joint Power Authority 1.9% | ||||
Berkshire Wind Power Cooperative Corp. | ||||
Refunding Revenue Bonds | ||||
Berkshire Wind Project | ||||
Series 2017 | ||||
07/01/2029 | 5.000% | 1,000,000 | 1,207,398 | |
Massachusetts Clean Energy Cooperative Corp. | ||||
Revenue Bonds | ||||
Municipal Lighting Plant Cooperative | ||||
Series 2013 | ||||
07/01/2027 | 5.000% | 2,720,000 | 2,908,266 | |
Total | 4,115,664 |
Columbia Massachusetts Intermediate Municipal Bond Fund | Annual Report 2021 | 9 |
October 31, 2021
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Local General Obligation 4.8% | ||||
City of Boston | ||||
Unlimited General Obligation Bonds | ||||
Series 2020A | ||||
11/01/2028 | 5.000% | 3,000,000 | 3,825,238 | |
City of Cambridge | ||||
Limited General Obligation Refunding Bonds | ||||
Series 2021 | ||||
02/15/2031 | 5.000% | 2,000,000 | 2,667,265 | |
City of Worcester | ||||
Limited General Obligation Bonds | ||||
Ballpark Project | ||||
Series 2020B | ||||
02/01/2029 | 4.000% | 415,000 | 484,716 | |
02/01/2031 | 4.000% | 495,000 | 575,545 | |
Town of Sharon | ||||
Limited General Obligation Bonds | ||||
Series 2020 | ||||
02/15/2029 | 5.000% | 2,000,000 | 2,554,974 | |
Total | 10,107,738 | |||
Multi-Family 1.7% | ||||
Massachusetts Development Finance Agency | ||||
Revenue Bonds | ||||
UMass Boston Student Housing Project | ||||
Series 2016 | ||||
10/01/2033 | 5.000% | 1,235,000 | 1,394,588 | |
10/01/2034 | 5.000% | 2,000,000 | 2,255,461 | |
Total | 3,650,049 | |||
Other Bond Issue 5.1% | ||||
Boston Housing Authority | ||||
Refunding Revenue Bonds | ||||
Series 2020A | ||||
10/01/2027 | 5.000% | 455,000 | 557,405 | |
04/01/2028 | 5.000% | 800,000 | 989,141 | |
Martha’s Vineyard Land Bank | ||||
Refunding Revenue Bonds | ||||
Green Bonds | ||||
Series 2014 | ||||
05/01/2029 | 5.000% | 1,000,000 | 1,120,001 | |
05/01/2031 | 5.000% | 1,000,000 | 1,114,222 | |
Series 2017 (BAM) | ||||
05/01/2034 | 5.000% | 500,000 | 597,168 | |
05/01/2035 | 5.000% | 500,000 | 596,327 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Massachusetts Development Finance Agency | ||||
Refunding Revenue Bonds | ||||
Broad Institute | ||||
Series 2017 | ||||
04/01/2034 | 5.000% | 2,500,000 | 3,028,076 | |
04/01/2035 | 5.000% | 2,350,000 | 2,841,847 | |
Total | 10,844,187 | |||
Pool / Bond Bank 1.2% | ||||
Massachusetts Clean Water Trust (The) | ||||
Revenue Bonds | ||||
Green Bonds | ||||
Series 2019 | ||||
08/01/2038 | 5.000% | 2,000,000 | 2,530,341 | |
Prep School 0.5% | ||||
Massachusetts Development Finance Agency | ||||
Refunding Revenue Bonds | ||||
Dexter Southfield | ||||
Series 2015 | ||||
05/01/2030 | 5.000% | 1,035,000 | 1,165,904 | |
Refunded / Escrowed 5.7% | ||||
Massachusetts Development Finance Agency | ||||
Prerefunded 07/01/25 Revenue Bonds | ||||
Partners HealthCare System | ||||
Series 2015 | ||||
07/01/2032 | 5.000% | 2,795,000 | 3,254,524 | |
Massachusetts State College Building Authority(b) | ||||
Revenue Bonds | ||||
Capital Appreciation | ||||
Series 1999A Escrowed to Maturity (NPFGC) | ||||
05/01/2028 | 0.000% | 4,000,000 | 3,676,265 | |
Massachusetts Water Resources Authority | ||||
Prerefunded 08/01/22 Revenue Bonds | ||||
Series 2012B | ||||
08/01/2028 | 5.000% | 5,000,000 | 5,180,195 | |
Total | 12,110,984 | |||
Retirement Communities 2.9% | ||||
Massachusetts Development Finance Agency | ||||
Refunding Revenue Bonds | ||||
1st Mortgage-Berkshire Retirement Community | ||||
Series 2015 | ||||
07/01/2031 | 5.000% | 1,250,000 | 1,416,219 | |
Orchard Cove, Inc. | ||||
Series 2019 | ||||
10/01/2039 | 4.000% | 985,000 | 1,072,024 | |
10/01/2039 | 5.000% | 250,000 | 279,107 |
10 | Columbia Massachusetts Intermediate Municipal Bond Fund | Annual Report 2021 |
October 31, 2021
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Massachusetts Development Finance Agency(c) | ||||
Refunding Revenue Bonds | ||||
Newbridge Charles, Inc. | ||||
Series 2017 | ||||
10/01/2032 | 4.000% | 1,500,000 | 1,608,747 | |
Revenue Bonds | ||||
Linden Ponds, Inc. Facility | ||||
Series 2018 | ||||
11/15/2033 | 5.000% | 1,500,000 | 1,670,228 | |
Total | 6,046,325 | |||
Sales Tax 9.7% | ||||
Massachusetts Bay Transportation Authority | ||||
Refunding Revenue Bonds | ||||
Sales Tax Bond | ||||
Subordinated Series 2020B | ||||
07/01/2033 | 5.000% | 1,250,000 | 1,622,504 | |
Senior Sales Tax Bonds | ||||
Series 2004B | ||||
07/01/2030 | 5.250% | 1,770,000 | 2,267,023 | |
Revenue Bonds | ||||
Series 2005B (NPFGC) | ||||
07/01/2023 | 5.500% | 2,890,000 | 3,141,751 | |
Series 2006A | ||||
07/01/2022 | 5.250% | 3,500,000 | 3,618,201 | |
Series 2008B | ||||
07/01/2023 | 5.000% | 910,000 | 981,721 | |
Massachusetts Bay Transportation Authority(b) | ||||
Refunding Revenue Bonds | ||||
Series 2016A | ||||
07/01/2029 | 0.000% | 3,000,000 | 2,637,329 | |
07/01/2032 | 0.000% | 5,105,000 | 4,051,242 | |
Massachusetts School Building Authority | ||||
Revenue Bonds | ||||
Social Bonds | ||||
Series 2020A | ||||
08/15/2033 | 5.000% | 750,000 | 979,131 | |
Subordinated Series 2019A | ||||
02/15/2029 | 5.000% | 1,000,000 | 1,275,876 | |
Total | 20,574,778 | |||
Single Family 0.3% | ||||
Massachusetts Housing Finance Agency | ||||
Refunding Revenue Bonds | ||||
Social Bonds | ||||
Series 2020-220 (GNMA) | ||||
06/01/2027 | 5.000% | 125,000 | 152,148 | |
12/01/2027 | 5.000% | 100,000 | 123,104 | |
06/01/2028 | 5.000% | 75,000 | 93,234 | |
12/01/2028 | 5.000% | 100,000 | 125,640 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
06/01/2029 | 5.000% | 75,000 | 95,088 | |
Total | 589,214 | |||
State General Obligation 9.8% | ||||
Commonwealth of Massachusetts | ||||
Limited General Obligation Bonds | ||||
Series 2016I | ||||
12/01/2030 | 5.000% | 3,000,000 | 3,615,726 | |
Series 2019G | ||||
09/01/2036 | 4.000% | 2,000,000 | 2,375,544 | |
Series 2020B | ||||
03/01/2032 | 4.000% | 2,500,000 | 3,026,224 | |
Limited General Obligation Refunding Bonds | ||||
Series 2006B (AGM) | ||||
09/01/2022 | 5.250% | 2,000,000 | 2,084,198 | |
Series 2020B | ||||
07/01/2033 | 5.000% | 2,000,000 | 2,590,323 | |
Series 2020D | ||||
11/01/2036 | 4.000% | 1,000,000 | 1,210,237 | |
Unlimited General Obligation Refunding Bonds | ||||
Series 2004C (AMBAC) | ||||
12/01/2024 | 5.500% | 5,000,000 | 5,784,263 | |
Total | 20,686,515 | |||
Student Loan 0.9% | ||||
Massachusetts Educational Financing Authority(a) | ||||
Revenue Bonds | ||||
Education Loan | ||||
Series 2021 | ||||
07/01/2029 | 5.000% | 1,250,000 | 1,561,393 | |
Series 2020B | ||||
07/01/2028 | 5.000% | 250,000 | 307,385 | |
Total | 1,868,778 | |||
Transportation 0.8% | ||||
Commonwealth of Massachusetts Federal Highway Grant Anticipation Note | ||||
Revenue Bonds | ||||
Accelerated Bridge Program | ||||
Series 2019 | ||||
06/15/2027 | 5.000% | 1,400,000 | 1,669,880 | |
Turnpike / Bridge / Toll Road 2.8% | ||||
Massachusetts Transportation Trust Fund Metropolitan Highway System | ||||
Refunding Revenue Bonds | ||||
Series 2019A | ||||
01/01/2035 | 5.000% | 2,000,000 | 2,466,754 | |
Subordinated Series 2019B | ||||
01/01/2030 | 5.000% | 2,825,000 | 3,578,077 | |
Total | 6,044,831 |
Columbia Massachusetts Intermediate Municipal Bond Fund | Annual Report 2021 | 11 |
October 31, 2021
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Water & Sewer 2.8% | ||||
Massachusetts Water Resources Authority | ||||
Refunding Revenue Bonds | ||||
General | ||||
Series 2007B (AGM / TCRS) | ||||
08/01/2023 | 5.250% | 5,500,000 | 5,980,505 | |
Total Municipal Bonds (Cost $196,024,509) | 207,860,157 |
Money Market Funds 0.9% | ||
Shares | Value ($) | |
Dreyfus Tax Exempt Cash Management Fund, Institutional Shares, 0.010%(d) | 122,391 | 122,379 |
JPMorgan Institutional Tax Free Money Market Fund, Institutional Shares, 0.006%(d) | 1,829,132 | 1,829,132 |
Total Money Market Funds (Cost $1,951,523) | 1,951,511 | |
Total Investments in Securities (Cost: $197,976,032) | 209,811,668 | |
Other Assets & Liabilities, Net | 1,880,486 | |
Net Assets | 211,692,154 |
(a) | Income from this security may be subject to alternative minimum tax. |
(b) | Zero coupon bond. |
(c) | Represents privately placed and other securities and instruments exempt from Securities and Exchange Commission registration (collectively, private placements), such as Section 4(a)(2) and Rule 144A eligible securities, which are often sold only to qualified institutional buyers. At October 31, 2021, the total value of these securities amounted to $3,278,975, which represents 1.55% of total net assets. |
(d) | The rate shown is the seven-day current annualized yield at October 31, 2021. |
AGM | Assured Guaranty Municipal Corporation |
AMBAC | Ambac Assurance Corporation |
BAM | Build America Mutual Assurance Co. |
GNMA | Government National Mortgage Association |
NPFGC | National Public Finance Guarantee Corporation |
TCRS | Transferable Custody Receipts |
12 | Columbia Massachusetts Intermediate Municipal Bond Fund | Annual Report 2021 |
October 31, 2021
■ | Level 1 — Valuations based on quoted prices for investments in active markets that the Fund has the ability to access at the measurement date. Valuation adjustments are not applied to Level 1 investments. |
■ | Level 2 — Valuations based on other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risks, etc.). |
■ | Level 3 — Valuations based on significant unobservable inputs (including the Fund’s own assumptions and judgment in determining the fair value of investments). |
Level 1 ($) | Level 2 ($) | Level 3 ($) | Total ($) | |
Investments in Securities | ||||
Municipal Bonds | — | 207,860,157 | — | 207,860,157 |
Money Market Funds | 1,951,511 | — | — | 1,951,511 |
Total Investments in Securities | 1,951,511 | 207,860,157 | — | 209,811,668 |
Columbia Massachusetts Intermediate Municipal Bond Fund | Annual Report 2021 | 13 |
October 31, 2021
Assets | |
Investments in securities, at value | |
Unaffiliated issuers (cost $197,976,032) | $209,811,668 |
Receivable for: | |
Capital shares sold | 98,583 |
Interest | 2,236,097 |
Expense reimbursement due from Investment Manager | 526 |
Prepaid expenses | 4,549 |
Trustees’ deferred compensation plan | 109,634 |
Total assets | 212,261,057 |
Liabilities | |
Due to custodian | 13,685 |
Payable for: | |
Capital shares purchased | 33,334 |
Distributions to shareholders | 363,388 |
Management services fees | 2,725 |
Distribution and/or service fees | 267 |
Transfer agent fees | 20,180 |
Compensation of board members | 6,246 |
Compensation of chief compliance officer | 6 |
Other expenses | 19,438 |
Trustees’ deferred compensation plan | 109,634 |
Total liabilities | 568,903 |
Net assets applicable to outstanding capital stock | $211,692,154 |
Represented by | |
Paid in capital | 199,258,282 |
Total distributable earnings (loss) | 12,433,872 |
Total - representing net assets applicable to outstanding capital stock | $211,692,154 |
14 | Columbia Massachusetts Intermediate Municipal Bond Fund | Annual Report 2021 |
October 31, 2021
Class A | |
Net assets | $27,129,031 |
Shares outstanding | 2,562,897 |
Net asset value per share | $10.59 |
Maximum sales charge | 3.00% |
Maximum offering price per share (calculated by dividing the net asset value per share by 1.0 minus the maximum sales charge for Class A shares) | $10.92 |
Advisor Class | |
Net assets | $3,872,038 |
Shares outstanding | 366,090 |
Net asset value per share | $10.58 |
Class C | |
Net assets | $1,710,395 |
Shares outstanding | 161,631 |
Net asset value per share | $10.58 |
Institutional Class | |
Net assets | $167,019,625 |
Shares outstanding | 15,778,909 |
Net asset value per share | $10.58 |
Institutional 2 Class | |
Net assets | $101,797 |
Shares outstanding | 9,599 |
Net asset value per share(a) | $10.61 |
Institutional 3 Class | |
Net assets | $158,948 |
Shares outstanding | 14,943 |
Net asset value per share | $10.64 |
Class V | |
Net assets | $11,700,320 |
Shares outstanding | 1,105,351 |
Net asset value per share | $10.59 |
Maximum sales charge | 4.75% |
Maximum offering price per share (calculated by dividing the net asset value per share by 1.0 minus the maximum sales charge for Class V shares) | $11.12 |
(a) | Net asset value per share rounds to this amount due to fractional shares outstanding. |
Columbia Massachusetts Intermediate Municipal Bond Fund | Annual Report 2021 | 15 |
Year Ended October 31, 2021
Net investment income | |
Income: | |
Dividends — unaffiliated issuers | $775 |
Interest | 6,050,668 |
Total income | 6,051,443 |
Expenses: | |
Management services fees | 1,041,601 |
Distribution and/or service fees | |
Class A | 69,720 |
Class C | 21,144 |
Class V | 18,450 |
Transfer agent fees | |
Class A | 35,870 |
Advisor Class | 5,116 |
Class C | 2,720 |
Institutional Class | 224,981 |
Institutional 2 Class | 168 |
Institutional 3 Class | 33 |
Class V | 15,819 |
Compensation of board members | 16,662 |
Custodian fees | 1,700 |
Printing and postage fees | 14,677 |
Registration fees | 34,277 |
Audit fees | 29,500 |
Legal fees | 11,969 |
Compensation of chief compliance officer | 59 |
Other | 14,168 |
Total expenses | 1,558,634 |
Fees waived or expenses reimbursed by Investment Manager and its affiliates | (209,244) |
Fees waived by distributor | |
Class C | (6,346) |
Expense reduction | (120) |
Total net expenses | 1,342,924 |
Net investment income | 4,708,519 |
Realized and unrealized gain (loss) — net | |
Net realized gain (loss) on: | |
Investments — unaffiliated issuers | 522,371 |
Net realized gain | 522,371 |
Net change in unrealized appreciation (depreciation) on: | |
Investments — unaffiliated issuers | (1,134,827) |
Net change in unrealized appreciation (depreciation) | (1,134,827) |
Net realized and unrealized loss | (612,456) |
Net increase in net assets resulting from operations | $4,096,063 |
16 | Columbia Massachusetts Intermediate Municipal Bond Fund | Annual Report 2021 |
Year Ended October 31, 2021 | Year Ended October 31, 2020 | |
Operations | ||
Net investment income | $4,708,519 | $5,595,123 |
Net realized gain | 522,371 | 32,131 |
Net change in unrealized appreciation (depreciation) | (1,134,827) | (590,122) |
Net increase in net assets resulting from operations | 4,096,063 | 5,037,132 |
Distributions to shareholders | ||
Net investment income and net realized gains | ||
Class A | (538,101) | (607,373) |
Advisor Class | (86,631) | (87,381) |
Class C | (31,410) | (54,989) |
Institutional Class | (3,815,010) | (4,649,852) |
Institutional 2 Class | (5,352) | (7,304) |
Institutional 3 Class | (3,766) | (4,177) |
Class V | (249,485) | (296,003) |
Total distributions to shareholders | (4,729,755) | (5,707,079) |
Increase (decrease) in net assets from capital stock activity | (17,242,060) | 8,569,308 |
Total increase (decrease) in net assets | (17,875,752) | 7,899,361 |
Net assets at beginning of year | 229,567,906 | 221,668,545 |
Net assets at end of year | $211,692,154 | $229,567,906 |
Columbia Massachusetts Intermediate Municipal Bond Fund | Annual Report 2021 | 17 |
Year Ended | Year Ended | |||
October 31, 2021 | October 31, 2020 | |||
Shares | Dollars ($) | Shares | Dollars ($) | |
Capital stock activity | ||||
Class A | ||||
Subscriptions | 354,630 | 3,803,971 | 510,066 | 5,433,137 |
Distributions reinvested | 45,037 | 481,701 | 52,804 | 560,859 |
Redemptions | (473,874) | (5,080,839) | (177,221) | (1,889,957) |
Net increase (decrease) | (74,207) | (795,167) | 385,649 | 4,104,039 |
Advisor Class | ||||
Subscriptions | 63,640 | 682,517 | 100,929 | 1,060,437 |
Distributions reinvested | 8,086 | 86,416 | 8,211 | 87,133 |
Redemptions | (66,876) | (714,779) | (47,585) | (490,564) |
Net increase | 4,850 | 54,154 | 61,555 | 657,006 |
Class C | ||||
Subscriptions | 9,299 | 99,347 | 19,488 | 207,144 |
Distributions reinvested | 2,808 | 30,037 | 4,683 | 49,738 |
Redemptions | (96,891) | (1,038,099) | (104,031) | (1,109,475) |
Net decrease | (84,784) | (908,715) | (79,860) | (852,593) |
Institutional Class | ||||
Subscriptions | 670,741 | 7,181,132 | 2,998,862 | 31,902,192 |
Distributions reinvested | 28,289 | 302,500 | 30,524 | 324,242 |
Redemptions | (2,085,318) | (22,309,685) | (2,552,449) | (26,987,236) |
Net increase (decrease) | (1,386,288) | (14,826,053) | 476,937 | 5,239,198 |
Institutional 2 Class | ||||
Subscriptions | 4,381 | 47,170 | 20,351 | 216,419 |
Distributions reinvested | 470 | 5,042 | 661 | 7,039 |
Redemptions | (16,510) | (177,094) | (38,020) | (402,206) |
Net decrease | (11,659) | (124,882) | (17,008) | (178,748) |
Institutional 3 Class | ||||
Subscriptions | 117 | 1,270 | 3,929 | 42,117 |
Distributions reinvested | 329 | 3,533 | 367 | 3,910 |
Redemptions | (1,680) | (18,118) | (51) | (543) |
Net increase (decrease) | (1,234) | (13,315) | 4,245 | 45,484 |
Class V | ||||
Subscriptions | 32,988 | 351,723 | 21,356 | 227,156 |
Distributions reinvested | 13,578 | 145,224 | 15,989 | 169,826 |
Redemptions | (105,032) | (1,125,029) | (79,541) | (842,060) |
Net decrease | (58,466) | (628,082) | (42,196) | (445,078) |
Total net increase (decrease) | (1,611,788) | (17,242,060) | 789,322 | 8,569,308 |
18 | Columbia Massachusetts Intermediate Municipal Bond Fund | Annual Report 2021 |
Columbia Massachusetts Intermediate Municipal Bond Fund | Annual Report 2021 | 19 |
Net asset value, beginning of period | Net investment income | Net realized and unrealized gain (loss) | Total from investment operations | Distributions from net investment income | Distributions from net realized gains | Total distributions to shareholders | |
Class A | |||||||
Year Ended 10/31/2021 | $10.62 | 0.21 | (0.03) | 0.18 | (0.21) | (0.00)(c) | (0.21) |
Year Ended 10/31/2020 | $10.65 | 0.24 | (0.03) | 0.21 | (0.23) | (0.01) | (0.24) |
Year Ended 10/31/2019 | $10.17 | 0.29 | 0.51 | 0.80 | (0.29) | (0.03) | (0.32) |
Year Ended 10/31/2018 | $10.62 | 0.28 | (0.42) | (0.14) | (0.28) | (0.03) | (0.31) |
Year Ended 10/31/2017 | $10.88 | 0.29 | (0.19) | 0.10 | (0.29) | (0.07) | (0.36) |
Advisor Class | |||||||
Year Ended 10/31/2021 | $10.61 | 0.23 | (0.03) | 0.20 | (0.23) | (0.00)(c) | (0.23) |
Year Ended 10/31/2020 | $10.64 | 0.26 | (0.02) | 0.24 | (0.26) | (0.01) | (0.27) |
Year Ended 10/31/2019 | $10.16 | 0.31 | 0.51 | 0.82 | (0.31) | (0.03) | (0.34) |
Year Ended 10/31/2018 | $10.61 | 0.31 | (0.43) | (0.12) | (0.30) | (0.03) | (0.33) |
Year Ended 10/31/2017 | $10.87 | 0.32 | (0.20) | 0.12 | (0.31) | (0.07) | (0.38) |
Class C | |||||||
Year Ended 10/31/2021 | $10.62 | 0.16 | (0.04) | 0.12 | (0.16) | (0.00)(c) | (0.16) |
Year Ended 10/31/2020 | $10.64 | 0.19 | (0.02) | 0.17 | (0.18) | (0.01) | (0.19) |
Year Ended 10/31/2019 | $10.16 | 0.24 | 0.51 | 0.75 | (0.24) | (0.03) | (0.27) |
Year Ended 10/31/2018 | $10.62 | 0.24 | (0.44) | (0.20) | (0.23) | (0.03) | (0.26) |
Year Ended 10/31/2017 | $10.88 | 0.24 | (0.19) | 0.05 | (0.24) | (0.07) | (0.31) |
Institutional Class | |||||||
Year Ended 10/31/2021 | $10.62 | 0.23 | (0.04) | 0.19 | (0.23) | (0.00)(c) | (0.23) |
Year Ended 10/31/2020 | $10.65 | 0.26 | (0.02) | 0.24 | (0.26) | (0.01) | (0.27) |
Year Ended 10/31/2019 | $10.17 | 0.31 | 0.51 | 0.82 | (0.31) | (0.03) | (0.34) |
Year Ended 10/31/2018 | $10.62 | 0.31 | (0.43) | (0.12) | (0.30) | (0.03) | (0.33) |
Year Ended 10/31/2017 | $10.88 | 0.32 | (0.20) | 0.12 | (0.31) | (0.07) | (0.38) |
Institutional 2 Class | |||||||
Year Ended 10/31/2021 | $10.64 | 0.24 | (0.03) | 0.21 | (0.24) | (0.00)(c) | (0.24) |
Year Ended 10/31/2020 | $10.66 | 0.28 | (0.02) | 0.26 | (0.27) | (0.01) | (0.28) |
Year Ended 10/31/2019 | $10.18 | 0.32 | 0.51 | 0.83 | (0.32) | (0.03) | (0.35) |
Year Ended 10/31/2018 | $10.64 | 0.31 | (0.43) | (0.12) | (0.31) | (0.03) | (0.34) |
Year Ended 10/31/2017 | $10.90 | 0.32 | (0.19) | 0.13 | (0.32) | (0.07) | (0.39) |
20 | Columbia Massachusetts Intermediate Municipal Bond Fund | Annual Report 2021 |
Net asset value, end of period | Total return | Total gross expense ratio to average net assets(a) | Total net expense ratio to average net assets(a),(b) | Net investment income ratio to average net assets | Portfolio turnover | Net assets, end of period (000’s) | |
Class A | |||||||
Year Ended 10/31/2021 | $10.59 | 1.65% | 0.90% | 0.81%(d) | 1.92% | 8% | $27,129 |
Year Ended 10/31/2020 | $10.62 | 2.02% | 0.90% | 0.81%(d) | 2.23% | 13% | $28,012 |
Year Ended 10/31/2019 | $10.65 | 7.92% | 0.90% | 0.80%(d) | 2.75% | 15% | $23,968 |
Year Ended 10/31/2018 | $10.17 | (1.36%) | 0.90% | 0.81%(d) | 2.72% | 13% | $19,046 |
Year Ended 10/31/2017 | $10.62 | 0.95% | 0.90%(e) | 0.78%(d),(e) | 2.74% | 5% | $18,512 |
Advisor Class | |||||||
Year Ended 10/31/2021 | $10.58 | 1.91% | 0.65% | 0.56%(d) | 2.17% | 8% | $3,872 |
Year Ended 10/31/2020 | $10.61 | 2.27% | 0.65% | 0.56%(d) | 2.48% | 13% | $3,834 |
Year Ended 10/31/2019 | $10.64 | 8.19% | 0.65% | 0.55%(d) | 3.00% | 15% | $3,188 |
Year Ended 10/31/2018 | $10.16 | (1.12%) | 0.65% | 0.56%(d) | 2.97% | 13% | $2,568 |
Year Ended 10/31/2017 | $10.61 | 1.20% | 0.66%(e) | 0.54%(d),(e) | 2.98% | 5% | $3,502 |
Class C | |||||||
Year Ended 10/31/2021 | $10.58 | 1.10% | 1.65% | 1.26%(d) | 1.47% | 8% | $1,710 |
Year Ended 10/31/2020 | $10.62 | 1.65% | 1.65% | 1.26%(d) | 1.80% | 13% | $2,617 |
Year Ended 10/31/2019 | $10.64 | 7.44% | 1.65% | 1.25%(d) | 2.32% | 15% | $3,472 |
Year Ended 10/31/2018 | $10.16 | (1.90%) | 1.65% | 1.26%(d) | 2.27% | 13% | $5,780 |
Year Ended 10/31/2017 | $10.62 | 0.50% | 1.66%(e) | 1.24%(d),(e) | 2.29% | 5% | $7,470 |
Institutional Class | |||||||
Year Ended 10/31/2021 | $10.58 | 1.81% | 0.65% | 0.56%(d) | 2.17% | 8% | $167,020 |
Year Ended 10/31/2020 | $10.62 | 2.27% | 0.65% | 0.56%(d) | 2.49% | 13% | $182,343 |
Year Ended 10/31/2019 | $10.65 | 8.19% | 0.65% | 0.55%(d) | 3.01% | 15% | $177,665 |
Year Ended 10/31/2018 | $10.17 | (1.11%) | 0.65% | 0.56%(d) | 2.97% | 13% | $166,289 |
Year Ended 10/31/2017 | $10.62 | 1.20% | 0.66%(e) | 0.54%(d),(e) | 2.98% | 5% | $199,199 |
Institutional 2 Class | |||||||
Year Ended 10/31/2021 | $10.61 | 1.96% | 0.59% | 0.50% | 2.23% | 8% | $102 |
Year Ended 10/31/2020 | $10.64 | 2.43% | 0.59% | 0.49% | 2.61% | 13% | $226 |
Year Ended 10/31/2019 | $10.66 | 8.25% | 0.59% | 0.49% | 3.03% | 15% | $408 |
Year Ended 10/31/2018 | $10.18 | (1.15%) | 0.57% | 0.50% | 3.01% | 13% | $41 |
Year Ended 10/31/2017 | $10.64 | 1.28% | 0.56%(e) | 0.47%(e) | 3.05% | 5% | $10 |
Columbia Massachusetts Intermediate Municipal Bond Fund | Annual Report 2021 | 21 |
Net asset value, beginning of period | Net investment income | Net realized and unrealized gain (loss) | Total from investment operations | Distributions from net investment income | Distributions from net realized gains | Total distributions to shareholders | |
Institutional 3 Class | |||||||
Year Ended 10/31/2021 | $10.67 | 0.24 | (0.02) | 0.22 | (0.25) | (0.00)(c) | (0.25) |
Year Ended 10/31/2020 | $10.70 | 0.27 | (0.02) | 0.25 | (0.27) | (0.01) | (0.28) |
Year Ended 10/31/2019 | $10.22 | 0.33 | 0.50 | 0.83 | (0.32) | (0.03) | (0.35) |
Year Ended 10/31/2018 | $10.67 | 0.32 | (0.42) | (0.10) | (0.32) | (0.03) | (0.35) |
Year Ended 10/31/2017(f) | $10.56 | 0.22 | 0.11(g) | 0.33 | (0.22) | — | (0.22) |
Class V | |||||||
Year Ended 10/31/2021 | $10.62 | 0.22 | (0.03) | 0.19 | (0.22) | (0.00)(c) | (0.22) |
Year Ended 10/31/2020 | $10.65 | 0.25 | (0.03) | 0.22 | (0.24) | (0.01) | (0.25) |
Year Ended 10/31/2019 | $10.17 | 0.30 | 0.51 | 0.81 | (0.30) | (0.03) | (0.33) |
Year Ended 10/31/2018 | $10.62 | 0.29 | (0.42) | (0.13) | (0.29) | (0.03) | (0.32) |
Year Ended 10/31/2017 | $10.88 | 0.30 | (0.19) | 0.11 | (0.30) | (0.07) | (0.37) |
Notes to Financial Highlights | |
(a) | 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. |
(b) | Total net expenses include the impact of certain fee waivers/expense reimbursements made by the Investment Manager and certain of its affiliates, if applicable. |
(c) | Rounds to zero. |
(d) | The benefits derived from expense reductions had an impact of less than 0.01%. |
(e) | Expenses have been reduced due to a reimbursement of expenses overbilled by a third party. If the reimbursement had been excluded, the expense ratios would have been higher by the percentages shown for each class in the table below. All fee waivers and expense reimbursements by the Investment Manager and its affiliates were applied before giving effect to this third party reimbursement. |
Year Ended | Class A | Advisor Class | Class C | Institutional Class | Institutional 2 Class | Class V |
10/31/2017 | 0.03% | 0.02% | 0.02% | 0.02% | 0.02% | 0.02% |
(f) | Institutional 3 Class shares commenced operations on March 1, 2017. Per share data and total return reflect activity from that date. |
(g) | 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. |
(h) | Annualized. |
22 | Columbia Massachusetts Intermediate Municipal Bond Fund | Annual Report 2021 |
Net asset value, end of period | Total return | Total gross expense ratio to average net assets(a) | Total net expense ratio to average net assets(a),(b) | Net investment income ratio to average net assets | Portfolio turnover | Net assets, end of period (000’s) | |
Institutional 3 Class | |||||||
Year Ended 10/31/2021 | $10.64 | 2.02% | 0.55% | 0.45% | 2.28% | 8% | $159 |
Year Ended 10/31/2020 | $10.67 | 2.38% | 0.54% | 0.45% | 2.58% | 13% | $173 |
Year Ended 10/31/2019 | $10.70 | 8.28% | 0.54% | 0.44% | 3.12% | 15% | $128 |
Year Ended 10/31/2018 | $10.22 | (0.99%) | 0.54% | 0.45% | 3.08% | 13% | $108 |
Year Ended 10/31/2017(f) | $10.67 | 3.10% | 0.55%(h) | 0.45%(h) | 3.21%(h) | 5% | $110 |
Class V | |||||||
Year Ended 10/31/2021 | $10.59 | 1.76% | 0.80% | 0.71%(d) | 2.02% | 8% | $11,700 |
Year Ended 10/31/2020 | $10.62 | 2.12% | 0.80% | 0.71%(d) | 2.34% | 13% | $12,363 |
Year Ended 10/31/2019 | $10.65 | 8.03% | 0.80% | 0.70%(d) | 2.86% | 15% | $12,839 |
Year Ended 10/31/2018 | $10.17 | (1.26%) | 0.80% | 0.71%(d) | 2.82% | 13% | $15,825 |
Year Ended 10/31/2017 | $10.62 | 1.05% | 0.81%(e) | 0.69%(d),(e) | 2.83% | 5% | $17,934 |
Columbia Massachusetts Intermediate Municipal Bond Fund | Annual Report 2021 | 23 |
October 31, 2021
24 | Columbia Massachusetts Intermediate Municipal Bond Fund | Annual Report 2021 |
October 31, 2021
Columbia Massachusetts Intermediate Municipal Bond Fund | Annual Report 2021 | 25 |
October 31, 2021
26 | Columbia Massachusetts Intermediate Municipal Bond Fund | Annual Report 2021 |
October 31, 2021
Effective rate (%) | |
Class A | 0.13 |
Advisor Class | 0.13 |
Class C | 0.13 |
Institutional Class | 0.13 |
Institutional 2 Class | 0.07 |
Institutional 3 Class | 0.02 |
Class V | 0.13 |
Front End (%) | CDSC (%) | Amount ($) | |
Class A | 3.00 | 0.75(a) | 8,921 |
Class C | — | 1.00(b) | 410 |
Class V | 4.75 | 0.50 - 1.00(c) | — |
Columbia Massachusetts Intermediate Municipal Bond Fund | Annual Report 2021 | 27 |
October 31, 2021
(a) | This charge is imposed on certain investments of $500,000 or more if redeemed within 12 months after purchase. |
(b) | This charge applies to redemptions within 12 months after purchase, with certain limited exceptions. |
(c) | This charge is imposed on certain investments of between $1 million and $50 million redeemed within 18 months after purchase, as follows: 1.00% if redeemed within 12 months after purchase, and 0.50% if redeemed more than 12, but less than 18, months after purchase, with certain limited exceptions. |
Fee rate(s) contractual through February 28, 2022 | |
Class A | 0.81% |
Advisor Class | 0.56 |
Class C | 1.56 |
Institutional Class | 0.56 |
Institutional 2 Class | 0.50 |
Institutional 3 Class | 0.45 |
Class V | 0.71 |
28 | Columbia Massachusetts Intermediate Municipal Bond Fund | Annual Report 2021 |
October 31, 2021
Year Ended October 31, 2021 | Year Ended October 31, 2020 | ||||||
Ordinary income ($) | Tax-exempt income ($) | Long-term capital gains ($) | Total ($) | Ordinary income ($) | Tax-exempt income ($) | Long-term capital gains ($) | Total ($) |
5 | 4,712,321 | 17,429 | 4,729,755 | 552 | 5,571,514 | 135,013 | 5,707,079 |
Undistributed ordinary income ($) | Undistributed tax- exempt income ($) | Undistributed long-term capital gains ($) | Capital loss carryforwards ($) | Net unrealized appreciation ($) |
— | 391,014 | 517,267 | — | 12,003,730 |
Federal tax cost ($) | Gross unrealized appreciation ($) | Gross unrealized (depreciation) ($) | Net unrealized appreciation ($) |
197,807,938 | 12,199,457 | (195,727) | 12,003,730 |
Columbia Massachusetts Intermediate Municipal Bond Fund | Annual Report 2021 | 29 |
October 31, 2021
30 | Columbia Massachusetts Intermediate Municipal Bond Fund | Annual Report 2021 |
October 31, 2021
Columbia Massachusetts Intermediate Municipal Bond Fund | Annual Report 2021 | 31 |
October 31, 2021
32 | Columbia Massachusetts Intermediate Municipal Bond Fund | Annual Report 2021 |
Columbia Massachusetts Intermediate Municipal Bond Fund | Annual Report 2021 | 33 |
Capital gain dividend | Exempt- interest dividends |
$548,490 | 99.99% |
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex* overseen | Other directorships held by Trustee during the past five years |
George S. Batejan c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1953 | Trustee since 2017 | Executive Vice President, Global Head of Technology and Operations, Janus Capital Group, Inc., 2010-2016 | 171 | Former Chairman of the Board, NICSA (National Investment Company Services Association) (Executive Committee, Nominating Committee and Governance Committee), 2014-2016; former Director, Intech Investment Management, 2011-2016; former Board Member, Metro Denver Chamber of Commerce, 2015-2016; former Advisory Board Member, University of Colorado Business School, 2015-2018 |
34 | Columbia Massachusetts Intermediate Municipal Bond Fund | Annual Report 2021 |
Independent trustees (continued)
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex* overseen | Other directorships held by Trustee during the past five years |
Kathleen Blatz c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1954 | Trustee since 2006 | Attorney; specializing in arbitration and mediation; Chief Justice, Minnesota Supreme Court, 1998-2006; Associate Justice, Minnesota Supreme Court, 1996-1998; Fourth Judicial District Court Judge, Hennepin County, 1994-1996; Attorney in private practice and public service, 1984-1993; State Representative, Minnesota House of Representatives, 1979-1993, which included service on the Tax and Financial Institutions and Insurance Committees; Member and Interim Chair, Minnesota Sports Facilities Authority, January 2017-July 2017; Interim President and Chief Executive Officer, Blue Cross and Blue Shield of Minnesota (health care insurance), February-July 2018 | 171 | Trustee, BlueCross BlueShield of Minnesota since 2009 (Chair of the Business Development Committee - 2014-2017; Chair of the Governance Committee, 2017-2019); former Member and Chair of the Board, Minnesota Sports Facilities Authority, January 2017-July 2017; Director, Robina Foundation, 2009-2020 (Chair, 2014-2020) |
Pamela G. Carlton c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1954 | Trustee since 2007 | President, Springboard — Partners in Cross Cultural Leadership (consulting company) since 2003; Managing Director of US Equity Research, JP Morgan Chase, 1999-2003; Director of US Equity Research, Chase Asset Management, 1996-1999; Co-Director Latin America Research, 1993-1996, COO Global Research, 1992-1996, Co-Director of US Research, 1991-1992, Investment Banker, Morgan Stanley, 1982-1991; Attorney, Cleary Gottlieb Steen & Hamilton LLP, 1980-1982 | 171 | Trustee, New York Presbyterian Hospital Board (Executive Committee and Chair of People Committee) since 1996; Director, DR Bank (Audit Committee) since 2017; Director, Evercore Inc. (Audit Committee, Nominating and Governance Committee) since 2019 |
Janet Langford Carrig c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1957 | Trustee since 1996 | Senior Vice President, General Counsel and Corporate Secretary, ConocoPhillips (independent energy company), September 2007-October 2018 | 169 | Director, EQT Corporation (natural gas producer) since 2019; Director, Whiting Petroleum Corporation (independent oil and gas company) since 2020 |
J. Kevin Connaughton c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1964 | Trustee since 2020(a) | Member, FINRA National Adjudicatory Council since January 2020; Adjunct Professor of Finance, Bentley University since January 2018; Managing Director and General Manager of Mutual Fund Products, Columbia Management Investment Advisers, LLC, May 2010-February 2015; President, Columbia Funds, 2008-2015; and senior officer of Columbia Funds and affiliated funds, 2003-2015 | 169 | Director, The Autism Project, since March 2015; former Member of the Investment Committee, St. Michael’s College, November 2015-February 2020; former Trustee, St. Michael’s College, June 2017-September 2019; former Trustee, New Century Portfolios, January 2015-December 2017 |
Olive M. Darragh c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1962 | Trustee since 2020(a) | Managing Director of Darragh Inc. (strategy and talent management consulting firm) since 2010; Founder and CEO, Zolio, Inc. (investment management talent identification platform) since 2004; Partner, Tudor Investments, 2004-2010; Senior Partner, McKinsey & Company (consulting), 2001-2004 | 169 | Former Director, University of Edinburgh Business School (Member of US Board); former Director, Boston Public Library Foundation |
Columbia Massachusetts Intermediate Municipal Bond Fund | Annual Report 2021 | 35 |
Independent trustees (continued)
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex* overseen | Other directorships held by Trustee during the past five years |
Patricia M. Flynn c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1950 | Trustee since 2004 | Trustee Professor of Economics and Management, Bentley University since 1976 (also teaches and conducts research on corporate governance); Dean, McCallum Graduate School of Business, Bentley University, 1992-2002 | 171 | Trustee, MA Taxpayers Foundation since 1997; Board of Governors, Innovation Institute, MA Technology Collaborative, 2010-2019; Board of Directors, The MA Business Roundtable, 2003-2019 |
Brian J. Gallagher c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1954 | Trustee since 2017 | Retired; Partner with Deloitte & Touche LLP and its predecessors, 1977-2016 | 171 | Trustee, Catholic Schools Foundation since 2004 |
Douglas A. Hacker c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1955 | Co-Chair since 2021; Chair of CFST I and CFVIT since 2014; Trustee of CFST I and CFVIT since 1996 and CFST, CFST II, CFVST II, CET I and CET II since 2021 | Independent business executive since May 2006; Executive Vice President – Strategy of United Airlines, December 2002 - May 2006; President of UAL Loyalty Services (airline marketing company), September 2001-December 2002; Executive Vice President and Chief Financial Officer of United Airlines, July 1999-September 2001 | 169 | Director, Spartan Nash Company (food distributor); Director, Aircastle Limited (Chair of Audit Committee) (aircraft leasing); former Director, Nash Finch Company (food distributor), 2005-2013; former Director, SeaCube Container Leasing Ltd. (container leasing), 2010-2013; and former Director, Travelport Worldwide Limited (travel information technology), 2014-2019 |
Nancy T. Lukitsh c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1956 | Trustee since 2011 | Senior Vice President, Partner and Director of Marketing, Wellington Management Company, LLP (investment adviser), 1997-2010; Chair, Wellington Management Portfolios (commingled non-U.S. investment pools), 2007 -2010; Director, Wellington Trust Company, NA and other Wellington affiliates, 1997-2010 | 169 | None |
David M. Moffett c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1952 | Trustee since 2011 | Retired; Consultant to Bridgewater and Associates | 169 | Director, CSX Corporation (transportation suppliers); Director, Genworth Financial, Inc. (financial and insurance products and services); Director, PayPal Holdings Inc. (payment and data processing services); Trustee, University of Oklahoma Foundation; former Director, eBay Inc. (online trading community), 2007-2015; and former Director, CIT Bank, CIT Group Inc. (commercial and consumer finance), 2010-2016 |
36 | Columbia Massachusetts Intermediate Municipal Bond Fund | Annual Report 2021 |
Independent trustees (continued)
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex* overseen | Other directorships held by Trustee during the past five years |
Catherine James Paglia c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1952 | Co-Chair since 2021; Chair of CFST, CFST II, CFVST II, CET I and CET II since 2020; Trustee of CFST, CFST II and CFVST II since 2004 and CFST I and CFVIT since 2021 | Director, Enterprise Asset Management, Inc. (private real estate and asset management company) since September 1998; Managing Director and Partner, Interlaken Capital, Inc., 1989-1997; Vice President, 1982-1985, Principal, 1985-1987, Managing Director, 1987-1989, Morgan Stanley; Vice President, Investment Banking, 1980-1982, Associate, Investment Banking, Dean Witter Reynolds, Inc., 1976-1980 | 171 | Director, Valmont Industries, Inc. (irrigation systems manufacturer) since 2012; Trustee, Carleton College (on the Investment Committee); Trustee, Carnegie Endowment for International Peace (on the Investment Committee) |
Anthony M. Santomero c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1946 | Trustee since 2008 | Richard K. Mellon Professor Emeritus of Finance, The Wharton School, University of Pennsylvania, since 2002; Senior Advisor, McKinsey & Company (consulting), 2006-2008; President, Federal Reserve Bank of Philadelphia, 2000-2006; Professor of Finance, The Wharton School, University of Pennsylvania, 1972-2002 | 171 | Trustee, Penn Mutual Life Insurance Company since March 2008; Director, RenaissanceRe Holdings Ltd. since May 2008; former Director, Citigroup Inc. and Citibank, N.A., 2009-2019; former Trustee, BofA Funds Series Trust (11 funds), 2008-2011 |
Minor M. Shaw c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1947 | Trustee since 2003 | President, Micco LLC (private investments) since 2011; President, Micco Corp. (family investment business), 1998-2011 | 171 | Director, BlueCross BlueShield of South Carolina (Chair of Compensation Committee) since April 2008; Trustee, Hollingsworth Funds (on the Investment Committee) since 2016 (previously Board Chair from 2016-2019); Former Advisory Board member, Duke Energy Corp., 2016-2020; Chair of the Duke Endowment; Chair of Greenville – Spartanburg Airport Commission; former Trustee, BofA Funds Series Trust (11 funds), 2003-2011; former Director, Piedmont Natural Gas, 2004-2016; former Director, National Association of Corporate Directors, Carolinas Chapter, 2013-2018; Chair, Daniel-Mickel Foundation |
Columbia Massachusetts Intermediate Municipal Bond Fund | Annual Report 2021 | 37 |
Independent trustees (continued)
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex* overseen | Other directorships held by Trustee during the past five years |
Natalie A. Trunow c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1967 | Trustee since 2020(a) | Chief Executive Officer, Millennial Portfolio Solutions LLC (asset management and consulting services) since January 2016; Non-executive Member of the Investment Committee, Sarona Asset Management Inc. (private equity firm) since September 2019; Advisor, Horizon Investments (asset management and consulting services) since August 2018; Advisor, Paradigm Asset Management since November 2016; Director of Investments, Casey Family Programs, April 2016-September 2016; Senior Vice President and Chief Investment Officer, Calvert Investments, August 2008 - January 2016; Section Head and Portfolio Manager, General Motors Asset Management, June 1997-August 2008 | 169 | Director, Health Services for Children with Special Needs, Inc.; Director, Consumer Credit Counseling Services (formerly Guidewell Financial Solutions); Independent Director, Investment Committee, Sarona Asset Management |
Sandra Yeager c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1964 | Trustee since 2017 | Retired; President and founder, Hanoverian Capital, LLC (SEC registered investment advisor firm), 2008-2016; Managing Director, DuPont Capital, 2006-2008; Managing Director, Morgan Stanley Investment Management, 2004-2006; Senior Vice President, Alliance Bernstein, 1990-2004 | 171 | Director, NAPE Education Foundation, October 2016-October 2020 |
* | The term “Columbia Funds Complex” as used herein includes Columbia Seligman Premium Technology Growth Fund, Tri-Continental Corporation and each series of Columbia Fund Series Trust (CFST), Columbia Funds Series Trust I (CFST I), Columbia Funds Series Trust II (CFST II), Columbia ETF Trust I (CET I), Columbia ETF Trust II (CET II), Columbia Funds Variable Insurance Trust (CFVIT) and Columbia Funds Variable Series Trust II (CFVST II). Messrs. Batejan, Beckman, Gallagher and Santomero and Mses. Blatz, Carlton, Flynn, Paglia, Shaw and Yeager serve as a director of Columbia Seligman Premium Technology Growth Fund and Tri-Continental Corporation. |
(a) | J. Kevin Connaughton was appointed a consultant to the Independent Trustees of CFST I and CFVIT effective March 1, 2016. Natalie A. Trunow was appointed a consultant to the Independent Trustees of CFST I and CFVIT effective September 1, 2016. Olive M. Darragh was appointed a consultant to the Independent Trustees of CFST I and CFVIT effective June 10, 2019. Shareholders of the Funds elected Mr. Connaughton and Mses. Darragh and Trunow as Trustees of CFST, CFST I, CFST II, CET I, CET II, and CFVST II, effective January 1, 2021, and of CFVIT, effective July 1, 2020. |
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during the past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex overseen | Other directorships held by Trustee during the past five years |
Daniel J. Beckman c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1962 | Trustee since November 2021(a) | Vice President – Head of North America Product, Columbia Management Investment Advisers, LLC (since April 2015); officer of Columbia Funds and affiliated funds since 2020. | 171 | Director, Ameriprise Trust Company, since October 2016; Director, Columbia Management Investment Distributors, Inc. since November 2018 |
* | 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. |
(a) | Mr. Beckman serves as the President and Principal Executive Officer of the Columbia Funds (since 2021). |
38 | Columbia Massachusetts Intermediate Municipal Bond Fund | Annual Report 2021 |
The Board has appointed officers who are responsible for day-to-day business decisions based on policies it has established. The officers serve at the pleasure of the Board. The following table provides basic information about the Officers of the Fund as of the printing of this report, including principal occupations during the past five years, although their specific titles may have varied over the period. In addition to Mr. Beckman, who is the President and Principal Executive Officer, the Fund’s other officers are:
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 |
Michael G. Clarke 290 Congress Street Boston, MA 02210 1969 | Chief Financial Officer and Principal Financial Officer (2009) and Senior Vice President (2019) | Vice President, Head of North American Operations, and Co-Head of Global Operations, Columbia Management Investment Advisers, LLC, since June 2019 (previously Vice President – Accounting and Tax, May 2010 – May 2019); senior officer of Columbia Funds and affiliated funds since 2002. |
Joseph Beranek 5890 Ameriprise Financial Center Minneapolis, MN 55474 1965 | Treasurer and Chief Accounting Officer (Principal Accounting Officer) (2019) and Principal Financial Officer (2020), CFST, CFST I, CFST II, CFVIT and CFVST II; Assistant Treasurer, CET I and CET II | Vice President – Mutual Fund Accounting and Financial Reporting, Columbia Management Investment Advisers, LLC, since December 2018 and March 2017, respectively (previously Vice President – Pricing and Corporate Actions, May 2010 - March 2017). |
Marybeth Pilat 290 Congress Street Boston, MA 02210 1968 | Treasurer and Chief Accounting Officer (Principal Accounting Officer) and Principal Financial Officer (2020) for CET I and CET II; Assistant Treasurer, CFST, CFST I, CFST II, CFVIT and CFVST II | Vice President – Product Pricing and Administration, Columbia Management Investment Advisers, LLC, since May 2017; Director - Fund Administration, Calvert Investments, August 2015 – March 2017; Vice President - Fund Administration, Legg Mason, May 2015 - July 2015; Vice President - Fund Administration, Columbia Management Investment Advisers, LLC, May 2010 - April 2015. |
William F. Truscott 290 Congress Street Boston, MA 02210 1960 | Senior Vice President (2001) | Formerly, Trustee of Columbia Funds Complex until January 1, 2021; Chief Executive Officer, Global Asset Management, Ameriprise Financial, Inc. since September 2012; Chairman of the Board and President, Columbia Management Investment Advisers, LLC since July 2004 and February 2012, respectively; Chairman of the Board and Chief Executive Officer, Columbia Management Investment Distributors, Inc. since November 2008 and February 2012, respectively; Chairman of the Board and Director, Threadneedle Asset Management Holdings, Sàrl since March 2013 and December 2008, respectively; senior executive of various entities affiliated with Columbia Threadneedle. |
Christopher O. Petersen 5228 Ameriprise Financial Center Minneapolis, MN 55474 1970 | Senior Vice President and Assistant Secretary | Formerly, Trustee of Columbia Funds Complex until November 22, 2021; Senior Vice President and Assistant General Counsel, Ameriprise Financial, Inc. since September 2021 (previously Vice President and Lead Chief Counsel, January 2015 - September 2021); President and Principal Executive Officer of the Columbia Funds 2015 - 2021; officer of Columbia Funds and affiliated funds since 2007. |
Thomas P. McGuire 290 Congress Street Boston, MA 02210 1972 | Senior Vice President and Chief Compliance Officer (2012) | Vice President – Asset Management Compliance, Ameriprise Financial, Inc., since May 2010; Chief Compliance Officer, Columbia Acorn/Wanger Funds since December 2015; Chief Compliance Officer, Ameriprise Certificate Company September 2010 – September 2020. |
Colin Moore 290 Congress Street Boston, MA 02210 1958 | Senior Vice President (2010) | Executive Vice President and Global Chief Investment Officer, Ameriprise Financial, Inc., since July 2013; Executive Vice President and Global Chief Investment Officer, Columbia Management Investment Advisers, LLC since July 2013. |
Ryan C. Larrenaga 290 Congress Street Boston, MA 02210 1970 | Senior Vice President (2017), Chief Legal Officer (2017), and Secretary (2015) | Vice President and Chief Counsel, Ameriprise Financial, Inc. since August 2018 (previously Vice President and Group Counsel, August 2011 - August 2018); Chief Legal Officer, Columbia Acorn/Wanger Funds, since September 2020; officer of Columbia Funds and affiliated funds since 2005. |
Columbia Massachusetts Intermediate Municipal Bond Fund | Annual Report 2021 | 39 |
Fund officers (continued)
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 |
Michael E. DeFao 290 Congress Street Boston, MA 02210 1968 | Vice President (2011) and Assistant Secretary (2010) | Vice President and Chief Counsel, Ameriprise Financial, Inc. since May 2010; Vice President, Chief Legal Officer and Assistant Secretary, Columbia Management Investment Advisers, LLC since October 2021 (previously Vice President and Assistant Secretary, May 2010 – September 2021). |
Lyn Kephart-Strong 5228 Ameriprise Financial Center Minneapolis, MN 55474 1960 | Vice President (2015) | President, Columbia Management Investment Services Corp. since October 2014; Vice President & Resolution Officer, Ameriprise Trust Company since August 2009. |
• | Information on the investment performance of the Fund relative to the performance of a group of mutual funds determined to be comparable to the Fund by Broadridge, as well as performance relative to benchmarks; |
• | Information on the Fund’s management fees and total expenses, including information comparing the Fund’s expenses to those of a group of comparable mutual funds, as determined by Broadridge; |
40 | Columbia Massachusetts Intermediate Municipal Bond Fund | Annual Report 2021 |
• | The Investment Manager’s agreement to contractually limit or cap total operating expenses for the Fund so that total operating expenses (excluding certain fees and expenses, such as transaction costs and certain other investment related expenses, interest, taxes, acquired fund fees and expenses, and infrequent and/or unusual expenses) would not exceed a specified annual rate, as a percentage of the Fund’s net assets; |
• | Terms of the Management Agreement; |
• | Descriptions of other agreements and arrangements with affiliates of the Investment Manager relating to the operations of the Fund, including agreements with respect to the provision of transfer agency and shareholder services to the Fund; |
• | Descriptions of various services performed by the Investment Manager under the Management Agreement, including portfolio management and portfolio trading practices; |
• | Information regarding any recently negotiated management fees of similarly-managed portfolios of other institutional clients of the Investment Manager; |
• | Information regarding the resources of the Investment Manager, including information regarding senior management, portfolio managers and other personnel; |
• | Information regarding the capabilities of the Investment Manager with respect to compliance monitoring services; |
• | The profitability to the Investment Manager and its affiliates from their relationships with the Fund; and |
• | Report provided by the Board’s independent fee consultant, JDL Consultants, LLC (JDL). |
Columbia Massachusetts Intermediate Municipal Bond Fund | Annual Report 2021 | 41 |
Investment performance
42 | Columbia Massachusetts Intermediate Municipal Bond Fund | Annual Report 2021 |
Economies of scale
Columbia Massachusetts Intermediate Municipal Bond Fund | Annual Report 2021 | 43 |
columbiathreadneedleus.com/investor/. The Fund is distributed by Columbia Management Investment Distributors, Inc., member FINRA, and managed by Columbia Management Investment Advisers, LLC.
October 31, 2021
3 | |
5 | |
7 | |
8 | |
17 | |
19 | |
20 | |
22 | |
26 | |
37 | |
38 | |
38 | |
44 |
Average annual total returns (%) (for the period ended October 31, 2021) | |||||
Inception | 1 Year | 5 Years | 10 Years | ||
Class A | Excluding sales charges | 09/26/86 | 5.23 | 3.29 | 4.03 |
Including sales charges | 2.07 | 2.67 | 3.72 | ||
Advisor Class* | 03/19/13 | 5.46 | 3.54 | 4.25 | |
Class C | Excluding sales charges | 08/01/97 | 4.72 | 2.81 | 3.56 |
Including sales charges | 3.72 | 2.81 | 3.56 | ||
Institutional Class | 09/01/11 | 5.46 | 3.53 | 4.28 | |
Institutional 2 Class* | 11/08/12 | 5.52 | 3.58 | 4.28 | |
Institutional 3 Class* | 03/01/17 | 5.56 | 3.58 | 4.18 | |
Bloomberg New York Municipal Bond Index | 3.52 | 3.18 | 3.68 | ||
Bloomberg Municipal Bond Index | 2.64 | 3.41 | 3.88 |
* | The returns shown for periods prior to the share class inception date (including returns for the Life of the Fund, if shown, which are since Fund inception) include the returns of the Fund’s oldest share class. These returns are adjusted to reflect any higher class-related operating expenses of the newer share classes, as applicable. Please visit columbiathreadneedleus.com/investor/investment-products/mutual-funds/appended-performance for more information. |
Columbia Strategic New York Municipal Income Fund | Annual Report 2021 | 3 |
Quality breakdown (%) (at October 31, 2021) | |
AAA rating | 4.3 |
AA rating | 27.8 |
A rating | 37.3 |
BBB rating | 14.5 |
BB rating | 2.2 |
B rating | 1.8 |
D rating | 0.6 |
Not rated | 11.5 |
Total | 100.0 |
4 | Columbia Strategic New York Municipal Income Fund | Annual Report 2021 |
Columbia Strategic New York Municipal Income Fund | Annual Report 2021 | 5 |
• | The Fund’s outperformance of its benchmark was driven primarily by sector and maturity allocation, as well as the Fund’s overweight to medium and lower quality bonds. |
• | The Fund’s selections in the special tax, continuing care retirement communities (CCRCs), transportation and local general obligation (GO) sectors, as well as in the 8-22 and 25 year+ maturity ranges, outperformed those in the benchmark. |
• | The Fund’s overweights in bonds rated single A and below and in non-rated bonds, along with the Fund’s selections within the AA rating category, also contributed positively to results during the period. |
• | In addition, the Fund’s duration was longer than that of the benchmark throughout the period, which was also a positive contributor. |
• | Relative to the benchmark, an overweight in the housing sector and an underweight in airport bonds detracted from Fund results during the period. |
• | Security selection in water and sewer bonds also weighed on Fund performance. |
6 | Columbia Strategic New York Municipal Income Fund | Annual Report 2021 |
(Unaudited)
May 1, 2021 — October 31, 2021 | |||||||
Account value at the beginning of the period ($) | Account value at the end of the period ($) | Expenses paid during the period ($) | Fund’s annualized expense ratio (%) | ||||
Actual | Hypothetical | Actual | Hypothetical | Actual | Hypothetical | Actual | |
Class A | 1,000.00 | 1,000.00 | 1,004.20 | 1,021.09 | 3.85 | 3.88 | 0.77 |
Advisor Class | 1,000.00 | 1,000.00 | 1,005.40 | 1,022.34 | 2.60 | 2.62 | 0.52 |
Class C | 1,000.00 | 1,000.00 | 1,001.90 | 1,018.85 | 6.09 | 6.14 | 1.22 |
Institutional Class | 1,000.00 | 1,000.00 | 1,005.40 | 1,022.34 | 2.60 | 2.62 | 0.52 |
Institutional 2 Class | 1,000.00 | 1,000.00 | 1,005.50 | 1,022.39 | 2.55 | 2.57 | 0.51 |
Institutional 3 Class | 1,000.00 | 1,000.00 | 1,005.80 | 1,022.64 | 2.30 | 2.32 | 0.46 |
Columbia Strategic New York Municipal Income Fund | Annual Report 2021 | 7 |
October 31, 2021
Municipal Bonds 97.7% | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Air Transportation 3.6% | ||||
New York City Industrial Development Agency(a) | ||||
Refunding Revenue Bonds | ||||
Trips Obligated Group | ||||
Series 2012A | ||||
07/01/2028 | 5.000% | 2,000,000 | 2,050,043 | |
New York Transportation Development Corp.(a) | ||||
Refunding Revenue Bonds | ||||
American Airlines, Inc. Project | ||||
Series 2021 | ||||
08/01/2031 | 3.000% | 1,300,000 | 1,386,057 | |
Terminal 4 John F. Kennedy International Airport Project | ||||
Series 2020 | ||||
12/01/2040 | 4.000% | 600,000 | 673,904 | |
12/01/2041 | 4.000% | 600,000 | 671,641 | |
Revenue Bonds | ||||
Delta Air Lines, Inc. Laguardia | ||||
Series 2020 | ||||
10/01/2040 | 5.000% | 2,000,000 | 2,452,062 | |
Total | 7,233,707 | |||
Airport 0.3% | ||||
Niagara Frontier Transportation Authority(a) | ||||
Refunding Revenue Bonds | ||||
Buffalo Niagara International Airport | ||||
Series 2019 | ||||
04/01/2039 | 5.000% | 525,000 | 637,439 | |
Charter Schools 3.2% | ||||
Build NYC Resource Corp. | ||||
Revenue Bonds | ||||
Academic Leadership Charter School Project | ||||
Series 2021 | ||||
06/15/2036 | 4.000% | 200,000 | 224,496 | |
Bronx Charter School for Excellence | ||||
Series 2013 | ||||
04/01/2033 | 5.000% | 1,000,000 | 1,044,061 | |
International Leadership Charter School | ||||
Series 2013 | ||||
07/01/2033 | 5.750% | 1,500,000 | 1,546,889 | |
New World Preparatory Charter School Project | ||||
Series 2021 | ||||
06/15/2051 | 4.000% | 690,000 | 732,672 | |
Build NYC Resource Corp.(b) | ||||
Revenue Bonds | ||||
International Leadership Charter School | ||||
Series 2016 | ||||
07/01/2046 | 6.250% | 265,000 | 286,958 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Richmond Preparatory School Project Social Bonds | ||||
Series 2021 | ||||
06/01/2056 | 5.000% | 1,250,000 | 1,377,360 | |
Monroe County Industrial Development Corp.(b) | ||||
Revenue Bonds | ||||
True North Rochester Preparatory Charter School Project | ||||
Series 2020 | ||||
06/01/2059 | 5.000% | 1,000,000 | 1,148,071 | |
Total | 6,360,507 | |||
Disposal 1.0% | ||||
New York State Environmental Facilities Corp.(a),(b) | ||||
Revenue Bonds | ||||
Casella Waste Systems, Inc. | ||||
Series 2019 (Mandatory Put 12/03/29) | ||||
12/01/2044 | 2.875% | 2,000,000 | 2,099,482 | |
Health Services 0.8% | ||||
New York State Dormitory Authority | ||||
Refunding Revenue Bonds | ||||
Icahn School of Medicine at Mount Sinai | ||||
Series 2015 | ||||
07/01/2040 | 5.000% | 1,500,000 | 1,695,810 | |
Higher Education 5.4% | ||||
Build NYC Resource Corp. | ||||
Refunding Revenue Bonds | ||||
City University of New York-Queens | ||||
Series 2014A | ||||
06/01/2043 | 5.000% | 1,000,000 | 1,101,093 | |
Manhattan College Project | ||||
Series 2017 | ||||
08/01/2042 | 4.000% | 750,000 | 828,624 | |
Dutchess County Local Development Corp. | ||||
Refunding Revenue Bonds | ||||
Culinary Institute of America (The) | ||||
Series 2018 | ||||
07/01/2033 | 5.000% | 230,000 | 271,671 | |
07/01/2034 | 5.000% | 500,000 | 589,729 | |
New York State Dormitory Authority | ||||
Refunding Revenue Bonds | ||||
Fordham University | ||||
Series 2017 | ||||
07/01/2035 | 4.000% | 1,000,000 | 1,138,466 | |
St. John’s University | ||||
Series 2015A | ||||
07/01/2037 | 5.000% | 1,000,000 | 1,131,953 | |
Teacher’s College | ||||
Series 2017 | ||||
07/01/2033 | 4.000% | 500,000 | 570,413 |
8 | Columbia Strategic New York Municipal Income Fund | Annual Report 2021 |
October 31, 2021
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Revenue Bonds | ||||
New York University | ||||
Series 2019A | ||||
07/01/2042 | 5.000% | 1,000,000 | 1,255,259 | |
Rochester Institute of Technology | ||||
Series 2019 | ||||
07/01/2049 | 5.000% | 1,250,000 | 1,531,057 | |
St. John’s University | ||||
Series 2007C (NPFGC) | ||||
07/01/2026 | 5.250% | 1,205,000 | 1,448,023 | |
St. Lawrence County Industrial Development Agency(c) | ||||
Refunding Revenue Bonds | ||||
Clarkson University Project | ||||
Series 2021 | ||||
09/01/2040 | 5.000% | 200,000 | 245,206 | |
09/01/2041 | 5.000% | 225,000 | 275,118 | |
St. Lawrence County Industrial Development Agency | ||||
Refunding Revenue Bonds | ||||
Clarkson University Project | ||||
Series 2021 | ||||
09/01/2040 | 5.000% | 200,000 | 247,526 | |
Troy Capital Resource Corp. | ||||
Refunding Revenue Bonds | ||||
Forward Delivery - Rensselaer Polytechnic Institute Project | ||||
Series 2020 | ||||
09/01/2038 | 5.000% | 250,000 | 314,830 | |
Total | 10,948,968 | |||
Hospital 7.4% | ||||
Monroe County Industrial Development Corp. | ||||
Refunding Revenue Bonds | ||||
University of Rochester Project | ||||
Series 2017 | ||||
07/01/2037 | 4.000% | 500,000 | 570,838 | |
Nassau County Local Economic Assistance Corp. | ||||
Revenue Bonds | ||||
Catholic Health Services of Long Island | ||||
Series 2014 | ||||
07/01/2032 | 5.000% | 750,000 | 831,206 | |
New York State Dormitory Authority | ||||
Refunding Revenue Bonds | ||||
Catholic Health System Obligation Group | ||||
Series 2019 | ||||
07/01/2040 | 4.000% | 350,000 | 377,106 | |
07/01/2041 | 5.000% | 695,000 | 802,347 | |
Montefiore Obligated Group | ||||
Series 2020A | ||||
09/01/2050 | 4.000% | 2,000,000 | 2,240,057 | |
Montefiore Obligation Group | ||||
Series 2018 | ||||
08/01/2035 | 5.000% | 350,000 | 421,683 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
North Shore - Long Island Jewish Obligation Group | ||||
Series 2015A | ||||
05/01/2037 | 5.000% | 2,000,000 | 2,274,149 | |
NYU Hospitals Center | ||||
Series 2014 | ||||
07/01/2036 | 5.000% | 1,000,000 | 1,111,639 | |
Series 2016 | ||||
07/01/2040 | 4.000% | 1,000,000 | 1,102,843 | |
Revenue Bonds | ||||
Memorial Sloan Kettering Cancer Center | ||||
Series 2019 | ||||
07/01/2039 | 5.000% | 1,000,000 | 1,264,860 | |
NYU Langone Hospitals Obligated Group | ||||
Series 2020A | ||||
07/01/2050 | 4.000% | 2,000,000 | 2,295,900 | |
New York State Dormitory Authority(b) | ||||
Refunding Revenue Bonds | ||||
Orange Regional Medical Center | ||||
Series 2017 | ||||
12/01/2037 | 5.000% | 400,000 | 473,265 | |
Westchester County Local Development Corp. | ||||
Refunding Revenue Bonds | ||||
Westchester Medical Center | ||||
Series 2016 | ||||
11/01/2037 | 3.750% | 1,000,000 | 1,043,783 | |
Total | 14,809,676 | |||
Independent Power 0.2% | ||||
Suffolk County Industrial Development Agency(a) | ||||
Revenue Bonds | ||||
Nissequogue Cogen Partners Facility | ||||
Series 1998 | ||||
01/01/2023 | 5.500% | 315,000 | 317,791 | |
Joint Power Authority 0.9% | ||||
New York Power Authority | ||||
Refunding Revenue Bonds | ||||
Series 2020A | ||||
11/15/2050 | 4.000% | 1,000,000 | 1,158,663 | |
11/15/2055 | 4.000% | 500,000 | 576,761 | |
Total | 1,735,424 | |||
Local Appropriation 0.5% | ||||
Suffolk County Judicial Facilities Agency | ||||
Revenue Bonds | ||||
H. Lee Dennison Building | ||||
Series 2013 | ||||
11/01/2025 | 5.000% | 1,000,000 | 1,075,542 |
Columbia Strategic New York Municipal Income Fund | Annual Report 2021 | 9 |
October 31, 2021
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Local General Obligation 8.3% | ||||
City of New York | ||||
Limited General Obligation Bonds | ||||
Series 2021L-5 | ||||
04/01/2033 | 5.000% | 1,000,000 | 1,300,300 | |
Unlimited General Obligation Bonds | ||||
Series 2016B1 | ||||
12/01/2032 | 5.000% | 500,000 | 600,196 | |
Series 2017B-1 | ||||
10/01/2041 | 4.000% | 1,000,000 | 1,135,479 | |
Subordinated Series 2018F-1 | ||||
04/01/2043 | 5.000% | 4,000,000 | 4,811,497 | |
Unlimited General Obligation Refunding Bonds | ||||
Fiscal 2015 | ||||
Series 2014A | ||||
08/01/2031 | 5.000% | 500,000 | 560,341 | |
City of Poughkeepsie | ||||
Limited General Obligation Refunding Bonds | ||||
Series 2019 | ||||
06/01/2031 | 5.000% | 600,000 | 681,532 | |
County of Erie | ||||
Limited General Obligation Bonds | ||||
Public Improvement | ||||
Series 2015A | ||||
09/15/2028 | 5.000% | 275,000 | 316,618 | |
County of Nassau | ||||
Limited General Obligation Bonds | ||||
General Improvement | ||||
Series 2018B (AGM) | ||||
07/01/2034 | 5.000% | 2,000,000 | 2,456,588 | |
Series 2017B | ||||
04/01/2037 | 5.000% | 2,000,000 | 2,374,120 | |
Limited General Obligation Notes | ||||
Series 2019A (AGM) | ||||
04/01/2046 | 5.000% | 1,000,000 | 1,220,080 | |
Limited General Obligation Refunding Bonds | ||||
Series 2016A | ||||
01/01/2038 | 5.000% | 1,000,000 | 1,158,956 | |
Total | 16,615,707 | |||
Multi-Family 7.3% | ||||
Amherst Development Corp. | ||||
Refunding Revenue Bonds | ||||
University of Buffalo Student Housing | ||||
Series 2017 (AGM) | ||||
10/01/2045 | 5.000% | 500,000 | 588,557 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Housing Development Corp. | ||||
Revenue Bonds | ||||
Sustainable Neighborhood | ||||
Series 2017G | ||||
11/01/2047 | 3.700% | 2,000,000 | 2,126,207 | |
New York City Housing Development Corp. | ||||
Refunding Revenue Bonds | ||||
Sustainable Neighborhood | ||||
Series 2019 | ||||
11/01/2039 | 3.800% | 1,500,000 | 1,622,909 | |
11/01/2049 | 3.650% | 1,000,000 | 1,061,628 | |
Revenue Bonds | ||||
Series 2018K | ||||
11/01/2048 | 4.000% | 1,000,000 | 1,075,974 | |
Sustainable Neighborhood | ||||
Series 2019 | ||||
11/01/2049 | 3.250% | 2,000,000 | 2,055,168 | |
New York State Dormitory Authority | ||||
Revenue Bonds | ||||
State University of New York | ||||
Series 2019 | ||||
07/01/2049 | 4.000% | 500,000 | 566,894 | |
New York State Housing Finance Agency | ||||
Revenue Bonds | ||||
Affordable Housing | ||||
Series 2017M | ||||
11/01/2042 | 3.650% | 750,000 | 795,128 | |
Series 2019D | ||||
11/01/2044 | 3.700% | 1,000,000 | 1,073,869 | |
Climate Bond Certified/Sustainability Bonds | ||||
Series 2019 | ||||
11/01/2044 | 3.150% | 840,000 | 870,374 | |
Green Bonds | ||||
Series 2017H | ||||
11/01/2047 | 3.650% | 1,360,000 | 1,425,678 | |
Series 2017L (GNMA) | ||||
11/01/2037 | 3.300% | 540,000 | 569,015 | |
Sustainability Bonds | ||||
Series 2019I | ||||
11/01/2039 | 3.000% | 800,000 | 836,560 | |
Total | 14,667,961 | |||
Municipal Power 2.6% | ||||
Long Island Power Authority | ||||
Refunding Revenue Bonds | ||||
Series 2014A | ||||
09/01/2044 | 5.000% | 1,000,000 | 1,112,706 | |
Revenue Bonds | ||||
Electric System General Purpose | ||||
Series 2015B | ||||
09/01/2045 | 5.000% | 1,380,000 | 1,582,117 |
10 | Columbia Strategic New York Municipal Income Fund | Annual Report 2021 |
October 31, 2021
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Series 2018 | ||||
09/01/2038 | 5.000% | 1,000,000 | 1,244,836 | |
Puerto Rico Electric Power Authority(d),(e) | ||||
Revenue Bonds | ||||
Series 2012A | ||||
07/01/2042 | 0.000% | 1,250,000 | 1,221,875 | |
Total | 5,161,534 | |||
Nursing Home 0.8% | ||||
Monroe County Industrial Development Corp. | ||||
Refunding Revenue Bonds | ||||
St. Ann’s Community Project | ||||
Series 2019 | ||||
01/01/2050 | 5.000% | 1,500,000 | 1,665,091 | |
Other Bond Issue 2.2% | ||||
New York Liberty Development Corp. | ||||
Refunding Revenue Bonds | ||||
Green Bonds - 4 World Trade Center Project | ||||
Series 2021 | ||||
11/15/2051 | 3.000% | 500,000 | 509,931 | |
New York Transportation Development Corp.(a) | ||||
Revenue Bonds | ||||
New York State Thruway Service Areas Project | ||||
Series 2021 | ||||
10/31/2046 | 4.000% | 1,500,000 | 1,690,332 | |
04/30/2053 | 4.000% | 2,000,000 | 2,237,287 | |
Total | 4,437,550 | |||
Other Industrial Development Bond 0.2% | ||||
New York Liberty Development Corp. | ||||
Revenue Bonds | ||||
Goldman Sachs Headquarters | ||||
Series 2007 | ||||
10/01/2037 | 5.500% | 260,000 | 378,177 | |
Pool / Bond Bank 0.8% | ||||
New York State Dormitory Authority | ||||
Refunding Revenue Bonds | ||||
New School | ||||
Series 2015 | ||||
07/01/2050 | 5.000% | 1,395,000 | 1,581,681 | |
Unrefunded Revenue Bonds | ||||
School Districts Bond Financing Program | ||||
Series 2009 (AGM) | ||||
10/01/2036 | 5.125% | 15,000 | 15,055 | |
Total | 1,596,736 | |||
Ports 8.3% | ||||
Port Authority of New York & New Jersey(a) | ||||
Refunding Revenue Bonds | ||||
193rd Series 2015 | ||||
10/15/2035 | 5.000% | 3,135,000 | 3,601,965 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Consolidated 186th | ||||
Series 2014 | ||||
10/15/2044 | 5.000% | 1,000,000 | 1,102,357 | |
Consolidated 197th | ||||
Series 2016-197 | ||||
11/15/2036 | 5.000% | 1,000,000 | 1,181,212 | |
Consolidated 206th | ||||
Series 2017-206 | ||||
11/15/2047 | 5.000% | 1,000,000 | 1,185,535 | |
Series 2018-207 | ||||
09/15/2043 | 4.000% | 1,500,000 | 1,698,398 | |
Port Authority of New York & New Jersey | ||||
Refunding Revenue Bonds | ||||
Consolidated 211th | ||||
Series 2018 | ||||
09/01/2043 | 4.000% | 3,000,000 | 3,461,336 | |
Revenue Bonds | ||||
Consolidated 85th | ||||
Series 1993 | ||||
03/01/2028 | 5.375% | 1,640,000 | 1,937,273 | |
Consolidated 93rd | ||||
Series 1994 | ||||
06/01/2094 | 6.125% | 2,250,000 | 2,530,082 | |
Total | 16,698,158 | |||
Power 0.2% | ||||
Long Island Power Authority | ||||
Revenue Bonds | ||||
Series 2021A | ||||
09/01/2037 | 5.000% | 415,000 | 430,793 | |
Prep School 1.0% | ||||
Build NYC Resource Corp. | ||||
Refunding Revenue Bonds | ||||
Series 2015 | ||||
06/01/2033 | 5.000% | 500,000 | 565,033 | |
06/01/2035 | 5.000% | 700,000 | 790,493 | |
Rensselaer County Industrial Development Agency | ||||
Refunding Revenue Bonds | ||||
Emma Willard School Project | ||||
Series 2015A | ||||
01/01/2036 | 5.000% | 500,000 | 561,894 | |
Total | 1,917,420 | |||
Recreation 1.9% | ||||
New York City Industrial Development Agency | ||||
Refunding Revenue Bonds | ||||
Yankee Stadium Project - Pilot | ||||
Series 2020 | ||||
03/01/2045 | 4.000% | 500,000 | 560,072 |
Columbia Strategic New York Municipal Income Fund | Annual Report 2021 | 11 |
October 31, 2021
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
New York City Trust for Cultural Resources | ||||
Refunding Revenue Bonds | ||||
American Museum of Natural History | ||||
Series 2014S | ||||
07/01/2041 | 5.000% | 2,000,000 | 2,211,519 | |
Western Regional Off-Track Betting Corp.(b) | ||||
Refunding Revenue Bonds | ||||
Series 2021 | ||||
12/01/2041 | 4.125% | 1,000,000 | 976,580 | |
Total | 3,748,171 | |||
Refunded / Escrowed 3.0% | ||||
Build NYC Resource Corp. | ||||
Prerefunded 07/01/24 Revenue Bonds | ||||
New York Methodist Hospital Project | ||||
Series 2014 | ||||
07/01/2029 | 5.000% | 225,000 | 252,279 | |
07/01/2030 | 5.000% | 180,000 | 201,823 | |
Prerefunded 08/01/25 Revenue Bonds | ||||
YMCA of Greater New York Project | ||||
Series 2015 | ||||
08/01/2040 | 5.000% | 900,000 | 1,046,576 | |
City of Syracuse(a) | ||||
Prerefunded 11/29/21 Unlimited General Obligation Bonds | ||||
Airport Terminal Security Access Improvement | ||||
Series 2011 | ||||
11/01/2036 | 5.000% | 1,750,000 | 1,756,172 | |
Long Island Power Authority | ||||
Prerefunded 09/01/22 Revenue Bonds | ||||
Series 2012A | ||||
09/01/2037 | 5.000% | 330,000 | 343,242 | |
09/01/2037 | 5.000% | 255,000 | 265,163 | |
New York State Dormitory Authority | ||||
Prerefunded 07/01/24 Revenue Bonds | ||||
Pratt Institute | ||||
Series 2015A | ||||
07/01/2044 | 5.000% | 1,000,000 | 1,121,241 | |
Prerefunded 07/01/25 Revenue Bonds | ||||
New School | ||||
Series 2015 | ||||
07/01/2050 | 5.000% | 105,000 | 121,889 | |
Onondaga Civic Development Corp. | ||||
Prerefunded 12/01/21 Revenue Bonds | ||||
Upstate Properties Development, Inc. | ||||
Series 2011 | ||||
12/01/2041 | 5.250% | 945,000 | 948,865 | |
Total | 6,057,250 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Resource Recovery 1.0% | ||||
Build NYC Resource Corp.(a),(b) | ||||
Refunding Revenue Bonds | ||||
Pratt Paper, Inc. Project | ||||
Series 2014 | ||||
01/01/2035 | 5.000% | 750,000 | 831,293 | |
Jefferson County Industrial Development Agency(a),(b) | ||||
Revenue Bonds | ||||
ReEnergy Black River LLC P | ||||
Series 2019 | ||||
01/01/2024 | 5.250% | 1,280,000 | 1,246,309 | |
Total | 2,077,602 | |||
Retirement Communities 5.3% | ||||
Brookhaven Local Development Corp. | ||||
Refunding Revenue Bonds | ||||
Jefferson’s Ferry Project | ||||
Series 2016 | ||||
11/01/2036 | 5.250% | 750,000 | 885,025 | |
Revenue Bonds | ||||
Jefferson’s Ferry Project | ||||
Series 2020 | ||||
11/01/2055 | 4.000% | 1,000,000 | 1,104,894 | |
Huntington Local Development Corp. | ||||
Revenue Bonds | ||||
Fountaingate Garden Project | ||||
Series 2021A | ||||
07/01/2056 | 5.250% | 2,000,000 | 2,176,309 | |
Suffolk County Economic Development Corp. | ||||
Refunding Revenue Bonds | ||||
Peconic Landing at Southhold, Inc. | ||||
Series 2020 | ||||
12/01/2040 | 5.000% | 1,540,000 | 1,768,993 | |
Tompkins County Development Corp. | ||||
Refunding Revenue Bonds | ||||
Kendal at Ithaca, Inc. Project | ||||
Series 2014 | ||||
07/01/2044 | 5.000% | 1,655,000 | 1,795,263 | |
Ulster County Capital Resource Corp.(b) | ||||
Refunding Revenue Bonds | ||||
Woodland Pond at New Paltz | ||||
Series 2017 | ||||
09/15/2047 | 5.250% | 500,000 | 493,696 | |
09/15/2053 | 5.250% | 1,000,000 | 977,239 | |
Westchester County Local Development Corp. | ||||
Refunding Revenue Bonds | ||||
Miriam Osborn Memorial Home Association Project | ||||
Series 2019 | ||||
07/01/2042 | 5.000% | 450,000 | 503,348 |
12 | Columbia Strategic New York Municipal Income Fund | Annual Report 2021 |
October 31, 2021
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Westchester County Local Development Corp.(b),(c) | ||||
Revenue Bonds | ||||
Purchase Senior Learning Community | ||||
Series 2021 | ||||
07/01/2056 | 5.000% | 1,000,000 | 1,038,708 | |
Total | 10,743,475 | |||
Sales Tax 0.6% | ||||
Puerto Rico Sales Tax Financing Corp.(d),(f) | ||||
Revenue Bonds | ||||
Series 2018A-1 | ||||
07/01/2046 | 0.000% | 3,850,000 | 1,250,280 | |
Single Family 0.7% | ||||
State of New York Mortgage Agency | ||||
Refunding Revenue Bonds | ||||
Series 2019-217 | ||||
04/01/2039 | 3.625% | 135,000 | 145,857 | |
State of New York Mortgage Agency(a) | ||||
Refunding Revenue Bonds | ||||
Series 2019-218 | ||||
04/01/2033 | 3.600% | 1,000,000 | 1,066,764 | |
04/01/2038 | 3.850% | 245,000 | 261,948 | |
Total | 1,474,569 | |||
Special Non Property Tax 9.1% | ||||
Metropolitan Transportation Authority(f) | ||||
Refunding Revenue Bonds | ||||
Series 2012A | ||||
11/15/2032 | 0.000% | 2,500,000 | 1,994,368 | |
New York City Transitional Finance Authority | ||||
Refunding Revenue Bonds | ||||
Building Aid | ||||
Subordinated Series 2018S-3A | ||||
07/15/2037 | 5.000% | 2,000,000 | 2,469,175 | |
Revenue Bonds | ||||
Future Tax Secured | ||||
Subordinated Series 2019 | ||||
11/01/2037 | 4.000% | 2,000,000 | 2,337,863 | |
Subordinated Series 2020 | ||||
05/01/2045 | 4.000% | 1,500,000 | 1,725,045 | |
Subordinated Series 2020D | ||||
11/01/2045 | 4.000% | 1,000,000 | 1,150,030 | |
Subordinated Series 2020D-S | ||||
11/01/2035 | 4.000% | 1,500,000 | 1,772,859 | |
New York Convention Center Development Corp. | ||||
Refunding Revenue Bonds | ||||
Hotel Unit Fee Secured | ||||
Series 2015 | ||||
11/15/2045 | 5.000% | 1,500,000 | 1,706,236 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
New York State Dormitory Authority | ||||
Refunding Revenue Bonds | ||||
Series 2018A | ||||
03/15/2038 | 5.250% | 2,000,000 | 2,526,666 | |
New York State Urban Development Corp. | ||||
Revenue Bonds | ||||
Series 2020A | ||||
03/15/2049 | 4.000% | 2,000,000 | 2,307,662 | |
Puerto Rico Highways & Transportation Authority(d),(e) | ||||
Refunding Revenue Bonds | ||||
Series 2007N | ||||
07/01/2021 | 0.000% | 415,000 | 231,363 | |
Total | 18,221,267 | |||
Special Property Tax 1.4% | ||||
Glen Cove Local Economic Assistance Corp. | ||||
Refunding Revenue Bonds | ||||
Garview Point Public Improvement Project | ||||
Series 2016 | ||||
01/01/2056 | 5.000% | 1,000,000 | 1,087,973 | |
Hudson Yards Infrastructure Corp. | ||||
Refunding Revenue Bonds | ||||
Green Bonds | ||||
Series 2021 | ||||
02/15/2044 | 4.000% | 1,000,000 | 1,181,750 | |
New York Liberty Development Corp. | ||||
Refunding Revenue Bonds | ||||
Bank of America Tower at One Bryant Park Project | ||||
Series 2019 | ||||
09/15/2069 | 2.800% | 500,000 | 507,358 | |
Total | 2,777,081 | |||
State General Obligation 0.4% | ||||
Commonwealth of Puerto Rico(d),(e) | ||||
Unlimited General Obligation Refunding & Public Improvement Bonds | ||||
Series 2014A | ||||
07/01/2035 | 0.000% | 1,000,000 | 880,000 | |
Tobacco 4.4% | ||||
Chautauqua Tobacco Asset Securitization Corp. | ||||
Refunding Revenue Bonds | ||||
Series 2014 | ||||
06/01/2034 | 5.000% | 1,000,000 | 1,047,634 | |
New York Counties Tobacco Trust VI | ||||
Refunding Revenue Bonds | ||||
Tobacco Settlement Pass-Through | ||||
Series 2016 | ||||
06/01/2051 | 5.000% | 2,000,000 | 2,208,707 | |
Suffolk Tobacco Asset Securitization Corp.(f) | ||||
Refunding Revenue Bonds | ||||
Subordinated Series 2021B-2 | ||||
06/01/2066 | 0.000% | 3,000,000 | 489,155 |
Columbia Strategic New York Municipal Income Fund | Annual Report 2021 | 13 |
October 31, 2021
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Suffolk Tobacco Asset Securitization Corp. | ||||
Refunding Revenue Bonds | ||||
Tobacco Settlement Asset-Backed Bonds | ||||
Subordinated Series 2021 | ||||
06/01/2050 | 4.000% | 1,500,000 | 1,673,414 | |
TSASC, Inc. | ||||
Refunding Revenue Bonds | ||||
Series 2017A | ||||
06/01/2041 | 5.000% | 3,000,000 | 3,450,717 | |
Total | 8,869,627 | |||
Transportation 7.0% | ||||
Metropolitan Transportation Authority | ||||
Refunding Revenue Bonds | ||||
Series 2017D | ||||
11/15/2035 | 5.000% | 1,330,000 | 1,576,434 | |
11/15/2042 | 4.000% | 2,000,000 | 2,182,846 | |
Revenue Bonds | ||||
Green Bonds | ||||
Series 2016A-1 | ||||
11/15/2041 | 5.000% | 1,000,000 | 1,138,584 | |
Series 2020A-1 | ||||
11/15/2048 | 5.000% | 2,000,000 | 2,380,437 | |
Series 2020C-1 | ||||
11/15/2050 | 5.000% | 2,000,000 | 2,376,668 | |
Series 2005B (AMBAC) | ||||
11/15/2023 | 5.250% | 1,250,000 | 1,373,388 | |
Transportation | ||||
Series 2015B | ||||
11/15/2040 | 5.000% | 1,675,000 | 1,874,216 | |
Transportation Program | ||||
Subordinated Series 2015A-1 | ||||
11/15/2045 | 5.000% | 1,000,000 | 1,111,706 | |
Total | 14,014,279 | |||
Turnpike / Bridge / Toll Road 1.5% | ||||
New York State Bridge Authority | ||||
Revenue Bonds | ||||
Series 2021A | ||||
01/01/2041 | 4.000% | 200,000 | 237,192 | |
New York State Thruway Authority | ||||
Revenue Bonds | ||||
Series 2019B | ||||
01/01/2045 | 4.000% | 2,415,000 | 2,752,388 | |
Total | 2,989,580 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Water & Sewer 6.4% | ||||
New York City Water & Sewer System | ||||
Revenue Bonds | ||||
2nd General Resolution | ||||
Series 2020GG | ||||
06/15/2050 | 4.000% | 1,805,000 | 2,069,276 | |
Series 2017 | ||||
06/15/2048 | 5.000% | 2,000,000 | 2,391,649 | |
Series 2019DD-1 | ||||
06/15/2049 | 5.000% | 2,000,000 | 2,467,789 | |
Subordinated Series 2021AA-1 | ||||
06/15/2051 | 4.000% | 4,000,000 | 4,642,958 | |
Niagara Falls Public Water Authority | ||||
Revenue Bonds | ||||
Series 2013A | ||||
07/15/2029 | 5.000% | 1,000,000 | 1,075,075 | |
Western Nassau County Water Authority | ||||
Revenue Bonds | ||||
Green Bonds | ||||
Series 2021A | ||||
04/01/2051 | 4.000% | 225,000 | 261,511 | |
Total | 12,908,258 | |||
Total Municipal Bonds (Cost $184,628,386) | 196,494,912 |
Money Market Funds 1.3% | ||
Shares | Value ($) | |
JPMorgan Institutional Tax Free Money Market Fund, Institutional Shares, 0.006%(g) | 2,657,439 | 2,657,439 |
Total Money Market Funds (Cost $2,657,439) | 2,657,439 | |
Total Investments in Securities (Cost: $187,285,825) | 199,152,351 | |
Other Assets & Liabilities, Net | 1,983,416 | |
Net Assets | 201,135,767 |
14 | Columbia Strategic New York Municipal Income Fund | Annual Report 2021 |
October 31, 2021
Short futures contracts | ||||||
Description | Number of contracts | Expiration date | Trading currency | Notional amount | Value/Unrealized appreciation ($) | Value/Unrealized depreciation ($) |
U.S. Treasury 10-Year Note | (50) | 12/2021 | USD | (6,535,156) | 18,668 | — |
U.S. Treasury 10-Year Note | (55) | 12/2021 | USD | (7,188,672) | — | (13,001) |
Total | 18,668 | (13,001) |
(a) | Income from this security may be subject to alternative minimum tax. |
(b) | Represents privately placed and other securities and instruments exempt from Securities and Exchange Commission registration (collectively, private placements), such as Section 4(a)(2) and Rule 144A eligible securities, which are often sold only to qualified institutional buyers. At October 31, 2021, the total value of these securities amounted to $10,948,961, which represents 5.44% of total net assets. |
(c) | Represents a security purchased on a when-issued basis. |
(d) | Municipal obligations include debt obligations issued by or on behalf of territories, possessions, or sovereign nations within the territorial boundaries of the United States. At October 31, 2021, the total value of these securities amounted to $3,583,518, which represents 1.78% of total net assets. |
(e) | Represents securities that have defaulted on payment of interest. The Fund has stopped accruing interest on these securities. At October 31, 2021, the total value of these securities amounted to $2,333,238, which represents 1.16% of total net assets. |
(f) | Zero coupon bond. |
(g) | The rate shown is the seven-day current annualized yield at October 31, 2021. |
AGM | Assured Guaranty Municipal Corporation |
AMBAC | Ambac Assurance Corporation |
GNMA | Government National Mortgage Association |
NPFGC | National Public Finance Guarantee Corporation |
■ | Level 1 — Valuations based on quoted prices for investments in active markets that the Fund has the ability to access at the measurement date. Valuation adjustments are not applied to Level 1 investments. |
■ | Level 2 — Valuations based on other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risks, etc.). |
■ | Level 3 — Valuations based on significant unobservable inputs (including the Fund’s own assumptions and judgment in determining the fair value of investments). |
Columbia Strategic New York Municipal Income Fund | Annual Report 2021 | 15 |
October 31, 2021
methodologies; events that require specific valuation determinations and assessment of fair value techniques; securities with a potential for stale pricing, including those that are illiquid, restricted, or in default; and the effectiveness of third party pricing vendors, including periodic reviews of vendors. The Committee meets more frequently, as needed, to discuss additional valuation matters, which may include the need to review back-testing results, review time-sensitive information or approve related valuation actions. The Committee reports to the Board, with members of the Committee meeting with the Board at each of its regularly scheduled meetings to discuss valuation matters and actions during the period, similar to those described earlier.
Level 1 ($) | Level 2 ($) | Level 3 ($) | Total ($) | |
Investments in Securities | ||||
Municipal Bonds | — | 196,494,912 | — | 196,494,912 |
Money Market Funds | 2,657,439 | — | — | 2,657,439 |
Total Investments in Securities | 2,657,439 | 196,494,912 | — | 199,152,351 |
Investments in Derivatives | ||||
Asset | ||||
Futures Contracts | 18,668 | — | — | 18,668 |
Liability | ||||
Futures Contracts | (13,001) | — | — | (13,001) |
Total | 2,663,106 | 196,494,912 | — | 199,158,018 |
16 | Columbia Strategic New York Municipal Income Fund | Annual Report 2021 |
October 31, 2021
Assets | |
Investments in securities, at value | |
Unaffiliated issuers (cost $187,285,825) | $199,152,351 |
Cash | 3,635 |
Margin deposits on: | |
Futures contracts | 147,000 |
Receivable for: | |
Investments sold | 1,124,386 |
Capital shares sold | 461,415 |
Interest | 2,455,280 |
Variation margin for futures contracts | 4,922 |
Expense reimbursement due from Investment Manager | 368 |
Prepaid expenses | 4,216 |
Trustees’ deferred compensation plan | 95,295 |
Total assets | 203,448,868 |
Liabilities | |
Payable for: | |
Investments purchased on a delayed delivery basis | 1,573,266 |
Capital shares purchased | 194,556 |
Distributions to shareholders | 407,072 |
Management services fees | 2,586 |
Distribution and/or service fees | 1,040 |
Transfer agent fees | 11,000 |
Compensation of board members | 6,148 |
Compensation of chief compliance officer | 5 |
Other expenses | 22,133 |
Trustees’ deferred compensation plan | 95,295 |
Total liabilities | 2,313,101 |
Net assets applicable to outstanding capital stock | $201,135,767 |
Represented by | |
Paid in capital | 187,919,828 |
Total distributable earnings (loss) | 13,215,939 |
Total - representing net assets applicable to outstanding capital stock | $201,135,767 |
Columbia Strategic New York Municipal Income Fund | Annual Report 2021 | 17 |
October 31, 2021
Class A | |
Net assets | $117,874,438 |
Shares outstanding | 3,888,101 |
Net asset value per share | $30.32 |
Maximum sales charge | 3.00% |
Maximum offering price per share (calculated by dividing the net asset value per share by 1.0 minus the maximum sales charge for Class A shares) | $31.26 |
Advisor Class | |
Net assets | $12,373,363 |
Shares outstanding | 408,769 |
Net asset value per share | $30.27 |
Class C | |
Net assets | $12,202,857 |
Shares outstanding | 402,688 |
Net asset value per share | $30.30 |
Institutional Class | |
Net assets | $55,958,565 |
Shares outstanding | 1,847,442 |
Net asset value per share | $30.29 |
Institutional 2 Class | |
Net assets | $1,859,547 |
Shares outstanding | 61,544 |
Net asset value per share(a) | $30.22 |
Institutional 3 Class | |
Net assets | $866,997 |
Shares outstanding | 28,605 |
Net asset value per share | $30.31 |
(a) | Net asset value per share rounds to this amount due to fractional shares outstanding. |
18 | Columbia Strategic New York Municipal Income Fund | Annual Report 2021 |
Year Ended October 31, 2021
Net investment income | |
Income: | |
Dividends — unaffiliated issuers | $579 |
Interest | 6,297,571 |
Total income | 6,298,150 |
Expenses: | |
Management services fees | 933,745 |
Distribution and/or service fees | |
Class A | 295,267 |
Class C | 136,336 |
Transfer agent fees | |
Class A | 89,849 |
Advisor Class | 8,428 |
Class C | 10,382 |
Institutional Class | 40,415 |
Institutional 2 Class | 1,102 |
Institutional 3 Class | 108 |
Compensation of board members | 16,322 |
Custodian fees | 7,717 |
Printing and postage fees | 18,625 |
Registration fees | 18,746 |
Audit fees | 29,500 |
Legal fees | 11,629 |
Compensation of chief compliance officer | 52 |
Other | 13,973 |
Total expenses | 1,632,196 |
Fees waived or expenses reimbursed by Investment Manager and its affiliates | (140,543) |
Fees waived by distributor | |
Class C | (40,915) |
Expense reduction | (100) |
Total net expenses | 1,450,638 |
Net investment income | 4,847,512 |
Realized and unrealized gain (loss) — net | |
Net realized gain (loss) on: | |
Investments — unaffiliated issuers | 1,264,400 |
Futures contracts | (235,282) |
Net realized gain | 1,029,118 |
Net change in unrealized appreciation (depreciation) on: | |
Investments — unaffiliated issuers | 4,178,797 |
Futures contracts | 2,516 |
Net change in unrealized appreciation (depreciation) | 4,181,313 |
Net realized and unrealized gain | 5,210,431 |
Net increase in net assets resulting from operations | $10,057,943 |
Columbia Strategic New York Municipal Income Fund | Annual Report 2021 | 19 |
Year Ended October 31, 2021 | Year Ended October 31, 2020 | |
Operations | ||
Net investment income | $4,847,512 | $5,242,242 |
Net realized gain | 1,029,118 | 1,267,380 |
Net change in unrealized appreciation (depreciation) | 4,181,313 | (4,099,035) |
Net increase in net assets resulting from operations | 10,057,943 | 2,410,587 |
Distributions to shareholders | ||
Net investment income and net realized gains | ||
Class A | (3,501,106) | (4,138,805) |
Advisor Class | (350,444) | (275,752) |
Class C | (352,513) | (576,783) |
Institutional Class | (1,705,752) | (2,026,365) |
Institutional 2 Class | (60,839) | (123,489) |
Institutional 3 Class | (27,385) | (29,043) |
Total distributions to shareholders | (5,998,039) | (7,170,237) |
Increase (decrease) in net assets from capital stock activity | 3,885,625 | (2,968,280) |
Total increase (decrease) in net assets | 7,945,529 | (7,727,930) |
Net assets at beginning of year | 193,190,238 | 200,918,168 |
Net assets at end of year | $201,135,767 | $193,190,238 |
20 | Columbia Strategic New York Municipal Income Fund | Annual Report 2021 |
Year Ended | Year Ended | |||
October 31, 2021 | October 31, 2020 | |||
Shares | Dollars ($) | Shares(a) | Dollars ($) | |
Capital stock activity | ||||
Class A | ||||
Subscriptions | 348,256 | 10,644,602 | 422,916 | 12,672,896 |
Distributions reinvested | 95,819 | 2,917,413 | 116,953 | 3,489,501 |
Redemptions | (426,551) | (13,004,856) | (534,228) | (15,820,061) |
Net increase | 17,524 | 557,159 | 5,641 | 342,336 |
Advisor Class | ||||
Subscriptions | 136,465 | 4,155,951 | 209,041 | 6,186,571 |
Distributions reinvested | 11,508 | 350,104 | 9,242 | 275,335 |
Redemptions | (47,995) | (1,459,024) | (123,380) | (3,539,100) |
Net increase | 99,978 | 3,047,031 | 94,903 | 2,922,806 |
Class C | ||||
Subscriptions | 48,086 | 1,466,017 | 42,109 | 1,254,123 |
Distributions reinvested | 9,726 | 295,664 | 14,678 | 438,106 |
Redemptions | (164,179) | (5,014,579) | (198,188) | (5,882,829) |
Net decrease | (106,367) | (3,252,898) | (141,401) | (4,190,600) |
Institutional Class | ||||
Subscriptions | 396,425 | 12,118,408 | 447,925 | 13,390,822 |
Distributions reinvested | 36,584 | 1,113,190 | 46,458 | 1,386,415 |
Redemptions | (315,309) | (9,608,582) | (507,541) | (14,892,044) |
Net increase (decrease) | 117,700 | 3,623,016 | (13,158) | (114,807) |
Institutional 2 Class | ||||
Subscriptions | 8,071 | 247,558 | — | — |
Distributions reinvested | 1,994 | 60,499 | 4,125 | 123,089 |
Redemptions | (15,344) | (466,433) | (76,658) | (2,101,812) |
Net decrease | (5,279) | (158,376) | (72,533) | (1,978,723) |
Institutional 3 Class | ||||
Subscriptions | 6,222 | 189,093 | 2,947 | 85,595 |
Distributions reinvested | 888 | 27,044 | 960 | 28,647 |
Redemptions | (4,806) | (146,444) | (2,076) | (63,534) |
Net increase | 2,304 | 69,693 | 1,831 | 50,708 |
Total net increase (decrease) | 125,860 | 3,885,625 | (124,717) | (2,968,280) |
(a) | Share activity has been adjusted on a retroactive basis to reflect a 4 to 1 reverse stock split completed after the close of business on September 11, 2020. |
Columbia Strategic New York Municipal Income Fund | Annual Report 2021 | 21 |
Net asset value, beginning of period | Net investment income | Net realized and unrealized gain (loss) | Total from investment operations | Distributions from net investment income | Distributions from net realized gains | Total distributions to shareholders | |
Class A(c) | |||||||
Year Ended 10/31/2021 | $29.68 | 0.73 | 0.81 | 1.54 | (0.72) | (0.18) | (0.90) |
Year Ended 10/31/2020 | $30.29 | 0.78 | (0.32) | 0.46 | (0.78) | (0.29) | (1.07) |
Year Ended 10/31/2019 | $28.51 | 0.88 | 1.78 | 2.66 | (0.88) | — | (0.88) |
Year Ended 10/31/2018 | $29.81 | 0.92 | (1.22) | (0.30) | (0.96) | (0.04) | (1.00) |
Year Ended 10/31/2017 | $30.33 | 0.96 | (0.52) | 0.44 | (0.92) | (0.04) | (0.96) |
Advisor Class(c) | |||||||
Year Ended 10/31/2021 | $29.64 | 0.80 | 0.81 | 1.61 | (0.80) | (0.18) | (0.98) |
Year Ended 10/31/2020 | $30.25 | 0.85 | (0.32) | 0.53 | (0.85) | (0.29) | (1.14) |
Year Ended 10/31/2019 | $28.47 | 0.96 | 1.78 | 2.74 | (0.96) | — | (0.96) |
Year Ended 10/31/2018 | $29.77 | 1.00 | (1.26) | (0.26) | (1.00) | (0.04) | (1.04) |
Year Ended 10/31/2017 | $30.27 | 1.04 | (0.50) | 0.54 | (1.00) | (0.04) | (1.04) |
Class C(c) | |||||||
Year Ended 10/31/2021 | $29.67 | 0.59 | 0.81 | 1.40 | (0.59) | (0.18) | (0.77) |
Year Ended 10/31/2020 | $30.28 | 0.65 | (0.33) | 0.32 | (0.64) | (0.29) | (0.93) |
Year Ended 10/31/2019 | $28.50 | 0.76 | 1.78 | 2.54 | (0.76) | — | (0.76) |
Year Ended 10/31/2018 | $29.80 | 0.80 | (1.26) | (0.46) | (0.80) | (0.04) | (0.84) |
Year Ended 10/31/2017 | $30.31 | 0.80 | (0.47) | 0.33 | (0.80) | (0.04) | (0.84) |
Institutional Class(c) | |||||||
Year Ended 10/31/2021 | $29.66 | 0.80 | 0.81 | 1.61 | (0.80) | (0.18) | (0.98) |
Year Ended 10/31/2020 | $30.26 | 0.85 | (0.31) | 0.54 | (0.85) | (0.29) | (1.14) |
Year Ended 10/31/2019 | $28.49 | 0.96 | 1.77 | 2.73 | (0.96) | — | (0.96) |
Year Ended 10/31/2018 | $29.79 | 1.00 | (1.26) | (0.26) | (1.00) | (0.04) | (1.04) |
Year Ended 10/31/2017 | $30.30 | 1.04 | (0.51) | 0.53 | (1.00) | (0.04) | (1.04) |
Institutional 2 Class(c) | |||||||
Year Ended 10/31/2021 | $29.58 | 0.81 | 0.81 | 1.62 | (0.80) | (0.18) | (0.98) |
Year Ended 10/31/2020 | $30.19 | 0.86 | (0.32) | 0.54 | (0.86) | (0.29) | (1.15) |
Year Ended 10/31/2019 | $28.42 | 0.96 | 1.77 | 2.73 | (0.96) | — | (0.96) |
Year Ended 10/31/2018 | $29.72 | 1.00 | (1.26) | (0.26) | (1.00) | (0.04) | (1.04) |
Year Ended 10/31/2017 | $30.22 | 1.04 | (0.50) | 0.54 | (1.00) | (0.04) | (1.04) |
22 | Columbia Strategic New York Municipal Income Fund | Annual Report 2021 |
Net asset value, end of period | Total return | Total gross expense ratio to average net assets(a) | Total net expense ratio to average net assets(a),(b) | Net investment income ratio to average net assets | Portfolio turnover | Net assets, end of period (000’s) | |
Class A(c) | |||||||
Year Ended 10/31/2021 | $30.32 | 5.23% | 0.85% | 0.78%(d) | 2.39% | 18% | $117,874 |
Year Ended 10/31/2020 | $29.68 | 1.59% | 0.85%(e) | 0.80%(d),(e) | 2.63% | 26% | $114,883 |
Year Ended 10/31/2019 | $30.29 | 9.37% | 0.85% | 0.80%(d) | 3.00% | 46% | $117,062 |
Year Ended 10/31/2018 | $28.51 | (1.02%) | 0.85% | 0.80%(d) | 3.21% | 19% | $120,625 |
Year Ended 10/31/2017 | $29.81 | 1.59% | 0.85% | 0.79%(d) | 3.21% | 7% | $134,602 |
Advisor Class(c) | |||||||
Year Ended 10/31/2021 | $30.27 | 5.46% | 0.61% | 0.53%(d) | 2.63% | 18% | $12,373 |
Year Ended 10/31/2020 | $29.64 | 1.84% | 0.60%(e) | 0.55%(d),(e) | 2.88% | 26% | $9,151 |
Year Ended 10/31/2019 | $30.25 | 9.66% | 0.60% | 0.55%(d) | 3.23% | 46% | $6,470 |
Year Ended 10/31/2018 | $28.47 | (0.78%) | 0.60% | 0.55%(d) | 3.48% | 19% | $4,821 |
Year Ended 10/31/2017 | $29.77 | 1.84% | 0.59% | 0.55%(d) | 3.46% | 7% | $2,518 |
Class C(c) | |||||||
Year Ended 10/31/2021 | $30.30 | 4.72% | 1.60% | 1.23%(d) | 1.94% | 18% | $12,203 |
Year Ended 10/31/2020 | $29.67 | 1.10% | 1.60%(e) | 1.25%(d),(e) | 2.18% | 26% | $15,103 |
Year Ended 10/31/2019 | $30.28 | 9.04% | 1.60% | 1.25%(d) | 2.56% | 46% | $19,693 |
Year Ended 10/31/2018 | $28.50 | (1.60%) | 1.60% | 1.25%(d) | 2.76% | 19% | $21,111 |
Year Ended 10/31/2017 | $29.80 | 1.13% | 1.60% | 1.24%(d) | 2.76% | 7% | $27,972 |
Institutional Class(c) | |||||||
Year Ended 10/31/2021 | $30.29 | 5.46% | 0.60% | 0.53%(d) | 2.63% | 18% | $55,959 |
Year Ended 10/31/2020 | $29.66 | 1.77% | 0.60%(e) | 0.55%(d),(e) | 2.88% | 26% | $51,296 |
Year Ended 10/31/2019 | $30.26 | 9.80% | 0.60% | 0.55%(d) | 3.24% | 46% | $52,745 |
Year Ended 10/31/2018 | $28.49 | (0.91%) | 0.60% | 0.55%(d) | 3.46% | 19% | $41,072 |
Year Ended 10/31/2017 | $29.79 | 1.84% | 0.60% | 0.55%(d) | 3.48% | 7% | $46,257 |
Institutional 2 Class(c) | |||||||
Year Ended 10/31/2021 | $30.22 | 5.52% | 0.59% | 0.52% | 2.65% | 18% | $1,860 |
Year Ended 10/31/2020 | $29.58 | 1.78% | 0.58%(e) | 0.53%(e) | 2.89% | 26% | $1,977 |
Year Ended 10/31/2019 | $30.19 | 9.84% | 0.58% | 0.53% | 3.28% | 46% | $4,207 |
Year Ended 10/31/2018 | $28.42 | (0.91%) | 0.58% | 0.54% | 3.46% | 19% | $5,457 |
Year Ended 10/31/2017 | $29.72 | 1.98% | 0.59% | 0.54% | 3.46% | 7% | $6,497 |
Columbia Strategic New York Municipal Income Fund | Annual Report 2021 | 23 |
Net asset value, beginning of period | Net investment income | Net realized and unrealized gain (loss) | Total from investment operations | Distributions from net investment income | Distributions from net realized gains | Total distributions to shareholders | |
Institutional 3 Class(c) | |||||||
Year Ended 10/31/2021 | $29.67 | 0.82 | 0.82 | 1.64 | (0.82) | (0.18) | (1.00) |
Year Ended 10/31/2020 | $30.28 | 0.87 | (0.32) | 0.55 | (0.87) | (0.29) | (1.16) |
Year Ended 10/31/2019 | $28.50 | 0.96 | 1.78 | 2.74 | (0.96) | — | (0.96) |
Year Ended 10/31/2018 | $29.80 | 1.04 | (1.26) | (0.22) | (1.04) | (0.04) | (1.08) |
Year Ended 10/31/2017(f) | $29.32 | 0.68 | 0.48(g) | 1.16 | (0.68) | — | (0.68) |
Notes to Financial Highlights | |
(a) | 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. |
(b) | Total net expenses include the impact of certain fee waivers/expense reimbursements made by the Investment Manager and certain of its affiliates, if applicable. |
(c) | Per share amounts have been adjusted on a retroactive basis to reflect a 4 to 1 reverse stock split completed after the close of business on September 11, 2020. |
(d) | The benefits derived from expense reductions had an impact of less than 0.01%. |
(e) | Ratios include interfund lending expense which is less than 0.01%. |
(f) | Institutional 3 Class shares commenced operations on March 1, 2017. Per share data and total return reflect activity from that date. |
(g) | 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. |
(h) | Annualized. |
24 | Columbia Strategic New York Municipal Income Fund | Annual Report 2021 |
Net asset value, end of period | Total return | Total gross expense ratio to average net assets(a) | Total net expense ratio to average net assets(a),(b) | Net investment income ratio to average net assets | Portfolio turnover | Net assets, end of period (000’s) | |
Institutional 3 Class(c) | |||||||
Year Ended 10/31/2021 | $30.31 | 5.56% | 0.54% | 0.47% | 2.70% | 18% | $867 |
Year Ended 10/31/2020 | $29.67 | 1.87% | 0.54%(e) | 0.49%(e) | 2.95% | 26% | $780 |
Year Ended 10/31/2019 | $30.28 | 9.71% | 0.54% | 0.49% | 3.17% | 46% | $741 |
Year Ended 10/31/2018 | $28.50 | (0.72%) | 0.54% | 0.50% | 3.49% | 19% | $38 |
Year Ended 10/31/2017(f) | $29.80 | 4.00% | 0.54%(h) | 0.50%(h) | 3.62%(h) | 7% | $105 |
Columbia Strategic New York Municipal Income Fund | Annual Report 2021 | 25 |
October 31, 2021
26 | Columbia Strategic New York Municipal Income Fund | Annual Report 2021 |
October 31, 2021
Columbia Strategic New York Municipal Income Fund | Annual Report 2021 | 27 |
October 31, 2021
28 | Columbia Strategic New York Municipal Income Fund | Annual Report 2021 |
October 31, 2021
Asset derivatives | ||
Risk exposure category | Statement of assets and liabilities location | Fair value ($) |
Interest rate risk | Component of total distributable earnings (loss) — unrealized appreciation on futures contracts | 18,668* |
Liability derivatives | ||
Risk exposure category | Statement of assets and liabilities location | Fair value ($) |
Interest rate risk | Component of total distributable earnings (loss) — unrealized depreciation on futures contracts | 13,001* |
* | Includes cumulative appreciation (depreciation) as reported in the tables following the Portfolio of Investments. Only the current day’s variation margin is reported in receivables or payables in the Statement of Assets and Liabilities. |
Amount of realized gain (loss) on derivatives recognized in income | |
Risk exposure category | Futures contracts ($) |
Interest rate risk | (235,282) |
Change in unrealized appreciation (depreciation) on derivatives recognized in income | |
Risk exposure category | Futures contracts ($) |
Interest rate risk | 2,516 |
Derivative instrument | Average notional amounts ($)* |
Futures contracts — short | 9,888,309 |
* | Based on the ending quarterly outstanding amounts for the year ended October 31, 2021. |
Columbia Strategic New York Municipal Income Fund | Annual Report 2021 | 29 |
October 31, 2021
30 | Columbia Strategic New York Municipal Income Fund | Annual Report 2021 |
October 31, 2021
Effective rate (%) | |
Class A | 0.08 |
Advisor Class | 0.08 |
Class C | 0.08 |
Institutional Class | 0.08 |
Institutional 2 Class | 0.06 |
Institutional 3 Class | 0.01 |
Columbia Strategic New York Municipal Income Fund | Annual Report 2021 | 31 |
October 31, 2021
Front End (%) | CDSC (%) | Amount ($) | |
Class A | 3.00 | 0.75(a) | 24,396 |
Class C | — | 1.00(b) | 257 |
(a) | This charge is imposed on certain investments of $500,000 or more if redeemed within 12 months after purchase. |
(b) | This charge applies to redemptions within 12 months after purchase, with certain limited exceptions. |
March 1, 2021 through February 28, 2022 | Prior to March 1, 2021 | |
Class A | 0.78% | 0.80% |
Advisor Class | 0.53 | 0.55 |
Class C | 1.53 | 1.55 |
Institutional Class | 0.53 | 0.55 |
Institutional 2 Class | 0.51 | 0.53 |
Institutional 3 Class | 0.46 | 0.49 |
32 | Columbia Strategic New York Municipal Income Fund | Annual Report 2021 |
October 31, 2021
Year Ended October 31, 2021 | Year Ended October 31, 2020 | ||||||
Ordinary income ($) | Tax-exempt income ($) | Long-term capital gains ($) | Total ($) | Ordinary income ($) | Tax-exempt income ($) | Long-term capital gains ($) | Total ($) |
114,447 | 4,842,993 | 1,040,599 | 5,998,039 | 678,743 | 5,060,447 | 1,431,047 | 7,170,237 |
Undistributed ordinary income ($) | Undistributed tax- exempt income ($) | Undistributed long-term capital gains ($) | Capital loss carryforwards ($) | Net unrealized appreciation ($) |
675,411 | 1,191,230 | 840,045 | — | 11,016,640 |
Federal tax cost ($) | Gross unrealized appreciation ($) | Gross unrealized (depreciation) ($) | Net unrealized appreciation ($) |
188,141,378 | 11,446,399 | (429,759) | 11,016,640 |
Columbia Strategic New York Municipal Income Fund | Annual Report 2021 | 33 |
October 31, 2021
34 | Columbia Strategic New York Municipal Income Fund | Annual Report 2021 |
October 31, 2021
Columbia Strategic New York Municipal Income Fund | Annual Report 2021 | 35 |
October 31, 2021
36 | Columbia Strategic New York Municipal Income Fund | Annual Report 2021 |
Columbia Strategic New York Municipal Income Fund | Annual Report 2021 | 37 |
Capital gain dividend | Exempt- interest dividends |
$913,542 | 99.66% |
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex* overseen | Other directorships held by Trustee during the past five years |
George S. Batejan c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1953 | Trustee since 2017 | Executive Vice President, Global Head of Technology and Operations, Janus Capital Group, Inc., 2010-2016 | 171 | Former Chairman of the Board, NICSA (National Investment Company Services Association) (Executive Committee, Nominating Committee and Governance Committee), 2014-2016; former Director, Intech Investment Management, 2011-2016; former Board Member, Metro Denver Chamber of Commerce, 2015-2016; former Advisory Board Member, University of Colorado Business School, 2015-2018 |
38 | Columbia Strategic New York Municipal Income Fund | Annual Report 2021 |
Independent trustees (continued)
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex* overseen | Other directorships held by Trustee during the past five years |
Kathleen Blatz c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1954 | Trustee since 2006 | Attorney; specializing in arbitration and mediation; Chief Justice, Minnesota Supreme Court, 1998-2006; Associate Justice, Minnesota Supreme Court, 1996-1998; Fourth Judicial District Court Judge, Hennepin County, 1994-1996; Attorney in private practice and public service, 1984-1993; State Representative, Minnesota House of Representatives, 1979-1993, which included service on the Tax and Financial Institutions and Insurance Committees; Member and Interim Chair, Minnesota Sports Facilities Authority, January 2017-July 2017; Interim President and Chief Executive Officer, Blue Cross and Blue Shield of Minnesota (health care insurance), February-July 2018 | 171 | Trustee, BlueCross BlueShield of Minnesota since 2009 (Chair of the Business Development Committee - 2014-2017; Chair of the Governance Committee, 2017-2019); former Member and Chair of the Board, Minnesota Sports Facilities Authority, January 2017-July 2017; Director, Robina Foundation, 2009-2020 (Chair, 2014-2020) |
Pamela G. Carlton c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1954 | Trustee since 2007 | President, Springboard — Partners in Cross Cultural Leadership (consulting company) since 2003; Managing Director of US Equity Research, JP Morgan Chase, 1999-2003; Director of US Equity Research, Chase Asset Management, 1996-1999; Co-Director Latin America Research, 1993-1996, COO Global Research, 1992-1996, Co-Director of US Research, 1991-1992, Investment Banker, Morgan Stanley, 1982-1991; Attorney, Cleary Gottlieb Steen & Hamilton LLP, 1980-1982 | 171 | Trustee, New York Presbyterian Hospital Board (Executive Committee and Chair of People Committee) since 1996; Director, DR Bank (Audit Committee) since 2017; Director, Evercore Inc. (Audit Committee, Nominating and Governance Committee) since 2019 |
Janet Langford Carrig c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1957 | Trustee since 1996 | Senior Vice President, General Counsel and Corporate Secretary, ConocoPhillips (independent energy company), September 2007-October 2018 | 169 | Director, EQT Corporation (natural gas producer) since 2019; Director, Whiting Petroleum Corporation (independent oil and gas company) since 2020 |
J. Kevin Connaughton c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1964 | Trustee since 2020(a) | Member, FINRA National Adjudicatory Council since January 2020; Adjunct Professor of Finance, Bentley University since January 2018; Managing Director and General Manager of Mutual Fund Products, Columbia Management Investment Advisers, LLC, May 2010-February 2015; President, Columbia Funds, 2008-2015; and senior officer of Columbia Funds and affiliated funds, 2003-2015 | 169 | Director, The Autism Project, since March 2015; former Member of the Investment Committee, St. Michael’s College, November 2015-February 2020; former Trustee, St. Michael’s College, June 2017-September 2019; former Trustee, New Century Portfolios, January 2015-December 2017 |
Olive M. Darragh c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1962 | Trustee since 2020(a) | Managing Director of Darragh Inc. (strategy and talent management consulting firm) since 2010; Founder and CEO, Zolio, Inc. (investment management talent identification platform) since 2004; Partner, Tudor Investments, 2004-2010; Senior Partner, McKinsey & Company (consulting), 2001-2004 | 169 | Former Director, University of Edinburgh Business School (Member of US Board); former Director, Boston Public Library Foundation |
Columbia Strategic New York Municipal Income Fund | Annual Report 2021 | 39 |
Independent trustees (continued)
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex* overseen | Other directorships held by Trustee during the past five years |
Patricia M. Flynn c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1950 | Trustee since 2004 | Trustee Professor of Economics and Management, Bentley University since 1976 (also teaches and conducts research on corporate governance); Dean, McCallum Graduate School of Business, Bentley University, 1992-2002 | 171 | Trustee, MA Taxpayers Foundation since 1997; Board of Governors, Innovation Institute, MA Technology Collaborative, 2010-2019; Board of Directors, The MA Business Roundtable, 2003-2019 |
Brian J. Gallagher c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1954 | Trustee since 2017 | Retired; Partner with Deloitte & Touche LLP and its predecessors, 1977-2016 | 171 | Trustee, Catholic Schools Foundation since 2004 |
Douglas A. Hacker c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1955 | Co-Chair since 2021; Chair of CFST I and CFVIT since 2014; Trustee of CFST I and CFVIT since 1996 and CFST, CFST II, CFVST II, CET I and CET II since 2021 | Independent business executive since May 2006; Executive Vice President – Strategy of United Airlines, December 2002 - May 2006; President of UAL Loyalty Services (airline marketing company), September 2001-December 2002; Executive Vice President and Chief Financial Officer of United Airlines, July 1999-September 2001 | 169 | Director, Spartan Nash Company (food distributor); Director, Aircastle Limited (Chair of Audit Committee) (aircraft leasing); former Director, Nash Finch Company (food distributor), 2005-2013; former Director, SeaCube Container Leasing Ltd. (container leasing), 2010-2013; and former Director, Travelport Worldwide Limited (travel information technology), 2014-2019 |
Nancy T. Lukitsh c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1956 | Trustee since 2011 | Senior Vice President, Partner and Director of Marketing, Wellington Management Company, LLP (investment adviser), 1997-2010; Chair, Wellington Management Portfolios (commingled non-U.S. investment pools), 2007 -2010; Director, Wellington Trust Company, NA and other Wellington affiliates, 1997-2010 | 169 | None |
David M. Moffett c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1952 | Trustee since 2011 | Retired; Consultant to Bridgewater and Associates | 169 | Director, CSX Corporation (transportation suppliers); Director, Genworth Financial, Inc. (financial and insurance products and services); Director, PayPal Holdings Inc. (payment and data processing services); Trustee, University of Oklahoma Foundation; former Director, eBay Inc. (online trading community), 2007-2015; and former Director, CIT Bank, CIT Group Inc. (commercial and consumer finance), 2010-2016 |
40 | Columbia Strategic New York Municipal Income Fund | Annual Report 2021 |
Independent trustees (continued)
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex* overseen | Other directorships held by Trustee during the past five years |
Catherine James Paglia c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1952 | Co-Chair since 2021; Chair of CFST, CFST II, CFVST II, CET I and CET II since 2020; Trustee of CFST, CFST II and CFVST II since 2004 and CFST I and CFVIT since 2021 | Director, Enterprise Asset Management, Inc. (private real estate and asset management company) since September 1998; Managing Director and Partner, Interlaken Capital, Inc., 1989-1997; Vice President, 1982-1985, Principal, 1985-1987, Managing Director, 1987-1989, Morgan Stanley; Vice President, Investment Banking, 1980-1982, Associate, Investment Banking, Dean Witter Reynolds, Inc., 1976-1980 | 171 | Director, Valmont Industries, Inc. (irrigation systems manufacturer) since 2012; Trustee, Carleton College (on the Investment Committee); Trustee, Carnegie Endowment for International Peace (on the Investment Committee) |
Anthony M. Santomero c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1946 | Trustee since 2008 | Richard K. Mellon Professor Emeritus of Finance, The Wharton School, University of Pennsylvania, since 2002; Senior Advisor, McKinsey & Company (consulting), 2006-2008; President, Federal Reserve Bank of Philadelphia, 2000-2006; Professor of Finance, The Wharton School, University of Pennsylvania, 1972-2002 | 171 | Trustee, Penn Mutual Life Insurance Company since March 2008; Director, RenaissanceRe Holdings Ltd. since May 2008; former Director, Citigroup Inc. and Citibank, N.A., 2009-2019; former Trustee, BofA Funds Series Trust (11 funds), 2008-2011 |
Minor M. Shaw c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1947 | Trustee since 2003 | President, Micco LLC (private investments) since 2011; President, Micco Corp. (family investment business), 1998-2011 | 171 | Director, BlueCross BlueShield of South Carolina (Chair of Compensation Committee) since April 2008; Trustee, Hollingsworth Funds (on the Investment Committee) since 2016 (previously Board Chair from 2016-2019); Former Advisory Board member, Duke Energy Corp., 2016-2020; Chair of the Duke Endowment; Chair of Greenville – Spartanburg Airport Commission; former Trustee, BofA Funds Series Trust (11 funds), 2003-2011; former Director, Piedmont Natural Gas, 2004-2016; former Director, National Association of Corporate Directors, Carolinas Chapter, 2013-2018; Chair, Daniel-Mickel Foundation |
Columbia Strategic New York Municipal Income Fund | Annual Report 2021 | 41 |
Independent trustees (continued)
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex* overseen | Other directorships held by Trustee during the past five years |
Natalie A. Trunow c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1967 | Trustee since 2020(a) | Chief Executive Officer, Millennial Portfolio Solutions LLC (asset management and consulting services) since January 2016; Non-executive Member of the Investment Committee, Sarona Asset Management Inc. (private equity firm) since September 2019; Advisor, Horizon Investments (asset management and consulting services) since August 2018; Advisor, Paradigm Asset Management since November 2016; Director of Investments, Casey Family Programs, April 2016-September 2016; Senior Vice President and Chief Investment Officer, Calvert Investments, August 2008 - January 2016; Section Head and Portfolio Manager, General Motors Asset Management, June 1997-August 2008 | 169 | Director, Health Services for Children with Special Needs, Inc.; Director, Consumer Credit Counseling Services (formerly Guidewell Financial Solutions); Independent Director, Investment Committee, Sarona Asset Management |
Sandra Yeager c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1964 | Trustee since 2017 | Retired; President and founder, Hanoverian Capital, LLC (SEC registered investment advisor firm), 2008-2016; Managing Director, DuPont Capital, 2006-2008; Managing Director, Morgan Stanley Investment Management, 2004-2006; Senior Vice President, Alliance Bernstein, 1990-2004 | 171 | Director, NAPE Education Foundation, October 2016-October 2020 |
* | The term “Columbia Funds Complex” as used herein includes Columbia Seligman Premium Technology Growth Fund, Tri-Continental Corporation and each series of Columbia Fund Series Trust (CFST), Columbia Funds Series Trust I (CFST I), Columbia Funds Series Trust II (CFST II), Columbia ETF Trust I (CET I), Columbia ETF Trust II (CET II), Columbia Funds Variable Insurance Trust (CFVIT) and Columbia Funds Variable Series Trust II (CFVST II). Messrs. Batejan, Beckman, Gallagher and Santomero and Mses. Blatz, Carlton, Flynn, Paglia, Shaw and Yeager serve as a director of Columbia Seligman Premium Technology Growth Fund and Tri-Continental Corporation. |
(a) | J. Kevin Connaughton was appointed a consultant to the Independent Trustees of CFST I and CFVIT effective March 1, 2016. Natalie A. Trunow was appointed a consultant to the Independent Trustees of CFST I and CFVIT effective September 1, 2016. Olive M. Darragh was appointed a consultant to the Independent Trustees of CFST I and CFVIT effective June 10, 2019. Shareholders of the Funds elected Mr. Connaughton and Mses. Darragh and Trunow as Trustees of CFST, CFST I, CFST II, CET I, CET II, and CFVST II, effective January 1, 2021, and of CFVIT, effective July 1, 2020. |
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during the past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex overseen | Other directorships held by Trustee during the past five years |
Daniel J. Beckman c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1962 | Trustee since November 2021(a) | Vice President – Head of North America Product, Columbia Management Investment Advisers, LLC (since April 2015); officer of Columbia Funds and affiliated funds since 2020. | 171 | Director, Ameriprise Trust Company, since October 2016; Director, Columbia Management Investment Distributors, Inc. since November 2018 |
* | 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. |
(a) | Mr. Beckman serves as the President and Principal Executive Officer of the Columbia Funds (since 2021). |
42 | Columbia Strategic New York Municipal Income Fund | Annual Report 2021 |
The Board has appointed officers who are responsible for day-to-day business decisions based on policies it has established. The officers serve at the pleasure of the Board. The following table provides basic information about the Officers of the Fund as of the printing of this report, including principal occupations during the past five years, although their specific titles may have varied over the period. In addition to Mr. Beckman, who is the President and Principal Executive Officer, the Fund’s other officers are:
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 |
Michael G. Clarke 290 Congress Street Boston, MA 02210 1969 | Chief Financial Officer and Principal Financial Officer (2009) and Senior Vice President (2019) | Vice President, Head of North American Operations, and Co-Head of Global Operations, Columbia Management Investment Advisers, LLC, since June 2019 (previously Vice President – Accounting and Tax, May 2010 – May 2019); senior officer of Columbia Funds and affiliated funds since 2002. |
Joseph Beranek 5890 Ameriprise Financial Center Minneapolis, MN 55474 1965 | Treasurer and Chief Accounting Officer (Principal Accounting Officer) (2019) and Principal Financial Officer (2020), CFST, CFST I, CFST II, CFVIT and CFVST II; Assistant Treasurer, CET I and CET II | Vice President – Mutual Fund Accounting and Financial Reporting, Columbia Management Investment Advisers, LLC, since December 2018 and March 2017, respectively (previously Vice President – Pricing and Corporate Actions, May 2010 - March 2017). |
Marybeth Pilat 290 Congress Street Boston, MA 02210 1968 | Treasurer and Chief Accounting Officer (Principal Accounting Officer) and Principal Financial Officer (2020) for CET I and CET II; Assistant Treasurer, CFST, CFST I, CFST II, CFVIT and CFVST II | Vice President – Product Pricing and Administration, Columbia Management Investment Advisers, LLC, since May 2017; Director - Fund Administration, Calvert Investments, August 2015 – March 2017; Vice President - Fund Administration, Legg Mason, May 2015 - July 2015; Vice President - Fund Administration, Columbia Management Investment Advisers, LLC, May 2010 - April 2015. |
William F. Truscott 290 Congress Street Boston, MA 02210 1960 | Senior Vice President (2001) | Formerly, Trustee of Columbia Funds Complex until January 1, 2021; Chief Executive Officer, Global Asset Management, Ameriprise Financial, Inc. since September 2012; Chairman of the Board and President, Columbia Management Investment Advisers, LLC since July 2004 and February 2012, respectively; Chairman of the Board and Chief Executive Officer, Columbia Management Investment Distributors, Inc. since November 2008 and February 2012, respectively; Chairman of the Board and Director, Threadneedle Asset Management Holdings, Sàrl since March 2013 and December 2008, respectively; senior executive of various entities affiliated with Columbia Threadneedle. |
Christopher O. Petersen 5228 Ameriprise Financial Center Minneapolis, MN 55474 1970 | Senior Vice President and Assistant Secretary | Formerly, Trustee of Columbia Funds Complex until November 22, 2021; Senior Vice President and Assistant General Counsel, Ameriprise Financial, Inc. since September 2021 (previously Vice President and Lead Chief Counsel, January 2015 - September 2021); President and Principal Executive Officer of the Columbia Funds 2015 - 2021; officer of Columbia Funds and affiliated funds since 2007. |
Thomas P. McGuire 290 Congress Street Boston, MA 02210 1972 | Senior Vice President and Chief Compliance Officer (2012) | Vice President – Asset Management Compliance, Ameriprise Financial, Inc., since May 2010; Chief Compliance Officer, Columbia Acorn/Wanger Funds since December 2015; Chief Compliance Officer, Ameriprise Certificate Company September 2010 – September 2020. |
Colin Moore 290 Congress Street Boston, MA 02210 1958 | Senior Vice President (2010) | Executive Vice President and Global Chief Investment Officer, Ameriprise Financial, Inc., since July 2013; Executive Vice President and Global Chief Investment Officer, Columbia Management Investment Advisers, LLC since July 2013. |
Ryan C. Larrenaga 290 Congress Street Boston, MA 02210 1970 | Senior Vice President (2017), Chief Legal Officer (2017), and Secretary (2015) | Vice President and Chief Counsel, Ameriprise Financial, Inc. since August 2018 (previously Vice President and Group Counsel, August 2011 - August 2018); Chief Legal Officer, Columbia Acorn/Wanger Funds, since September 2020; officer of Columbia Funds and affiliated funds since 2005. |
Columbia Strategic New York Municipal Income Fund | Annual Report 2021 | 43 |
Fund officers (continued)
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 |
Michael E. DeFao 290 Congress Street Boston, MA 02210 1968 | Vice President (2011) and Assistant Secretary (2010) | Vice President and Chief Counsel, Ameriprise Financial, Inc. since May 2010; Vice President, Chief Legal Officer and Assistant Secretary, Columbia Management Investment Advisers, LLC since October 2021 (previously Vice President and Assistant Secretary, May 2010 – September 2021). |
Lyn Kephart-Strong 5228 Ameriprise Financial Center Minneapolis, MN 55474 1960 | Vice President (2015) | President, Columbia Management Investment Services Corp. since October 2014; Vice President & Resolution Officer, Ameriprise Trust Company since August 2009. |
• | Information on the investment performance of the Fund relative to the performance of a group of mutual funds determined to be comparable to the Fund by Broadridge, as well as performance relative to benchmarks; |
• | Information on the Fund’s management fees and total expenses, including information comparing the Fund’s expenses to those of a group of comparable mutual funds, as determined by Broadridge; |
44 | Columbia Strategic New York Municipal Income Fund | Annual Report 2021 |
• | The Investment Manager’s agreement to contractually limit or cap total operating expenses for the Fund so that total operating expenses (excluding certain fees and expenses, such as transaction costs and certain other investment related expenses, interest, taxes, acquired fund fees and expenses, and infrequent and/or unusual expenses) would not exceed a specified annual rate, as a percentage of the Fund’s net assets; |
• | Terms of the Management Agreement; |
• | Descriptions of other agreements and arrangements with affiliates of the Investment Manager relating to the operations of the Fund, including agreements with respect to the provision of transfer agency and shareholder services to the Fund; |
• | Descriptions of various services performed by the Investment Manager under the Management Agreement, including portfolio management and portfolio trading practices; |
• | Information regarding any recently negotiated management fees of similarly-managed portfolios of other institutional clients of the Investment Manager; |
• | Information regarding the resources of the Investment Manager, including information regarding senior management, portfolio managers and other personnel; |
• | Information regarding the capabilities of the Investment Manager with respect to compliance monitoring services; |
• | The profitability to the Investment Manager and its affiliates from their relationships with the Fund; and |
• | Report provided by the Board’s independent fee consultant, JDL Consultants, LLC (JDL). |
Columbia Strategic New York Municipal Income Fund | Annual Report 2021 | 45 |
Investment performance
46 | Columbia Strategic New York Municipal Income Fund | Annual Report 2021 |
Economies of scale
Columbia Strategic New York Municipal Income Fund | Annual Report 2021 | 47 |
columbiathreadneedleus.com/investor/. The Fund is distributed by Columbia Management Investment Distributors, Inc., member FINRA, and managed by Columbia Management Investment Advisers, LLC.
October 31, 2021
3 | |
5 | |
8 | |
9 | |
17 | |
19 | |
20 | |
22 | |
26 | |
35 | |
36 | |
36 | |
42 |
Average annual total returns (%) (for the period ended October 31, 2021) | |||||
Inception | 1 Year | 5 Years | 10 Years | ||
Class A | Excluding sales charges | 11/25/02 | 2.84 | 2.43 | 2.71 |
Including sales charges | -0.24 | 1.82 | 2.40 | ||
Advisor Class* | 03/19/13 | 3.09 | 2.69 | 2.97 | |
Class C | Excluding sales charges | 11/25/02 | 2.37 | 1.99 | 2.27 |
Including sales charges | 1.37 | 1.99 | 2.27 | ||
Institutional Class | 12/31/91 | 3.09 | 2.69 | 2.97 | |
Institutional 2 Class* | 03/01/16 | 3.16 | 2.76 | 3.00 | |
Institutional 3 Class* | 03/01/17 | 3.29 | 2.79 | 3.02 | |
Class V | Excluding sales charges | 12/31/91 | 2.94 | 2.53 | 2.81 |
Including sales charges | -1.97 | 1.55 | 2.32 | ||
Bloomberg New York 3-15 Year Blend Municipal Bond Index | 2.76 | 2.83 | 3.22 | ||
Bloomberg 3-15 Year Blend Municipal Bond Index | 1.93 | 3.11 | 3.46 |
* | The returns shown for periods prior to the share class inception date (including returns for the Life of the Fund, if shown, which are since Fund inception) include the returns of the Fund’s oldest share class. Since the Fund launched more than one share class at its inception, Institutional Class shares were used. These returns are adjusted to reflect any higher class-related operating expenses of the newer share classes, as applicable. Please visit columbiathreadneedleus.com/investor/investment-products/mutual-funds/appended-performance for more information. |
Columbia New York Intermediate Municipal Bond Fund | Annual Report 2021 | 3 |
Quality breakdown (%) (at October 31, 2021) | |
AAA rating | 6.4 |
AA rating | 26.3 |
A rating | 51.5 |
BBB rating | 9.6 |
BB rating | 1.1 |
B rating | 0.3 |
Not rated | 4.8 |
Total | 100.0 |
4 | Columbia New York Intermediate Municipal Bond Fund | Annual Report 2021 |
Columbia New York Intermediate Municipal Bond Fund | Annual Report 2021 | 5 |
• | The Fund benefited from its meaningful overweight to lower investment grade rated issues across several sectors as lower quality and longer maturity outperformed during the period. |
○ | The top sector return of 6% was generated in transportation which was propelled by New York City’s Metropolitan Transportation Authority issues. |
○ | Holdings in the Port Authority of New York & New Jersey rebounded strongly as well. |
○ | Transportation represented the Fund’s largest sector exposure. We believe the outlook for both issuers improved dramatically as the economy continued to reopen, vaccinations progressed and the federal government provided stimulus aid. |
• | Holdings in the Fund’s second largest sector exposure, special non-property tax, did similarly well. Largely related to personal income taxes and sales tax in New York City, these issues benefited from the positive COVID-19 recovery forces previously mentioned. |
• | The Fund’s third largest sector weight, hospitals, was a positive contributor as well. Hospitals resumed elective surgeries and patient volumes increased as postponed procedures were attended to. |
• | Yield curve positioning was another bright spot for the Fund as longer intermediate maturities outperformed. The Fund was more than 6% overweight bonds maturing in 6 years and longer versus the benchmark. |
• | Lastly, exposure to bonds with 4% coupons was a plus during the period as they outperformed. We believe 4% coupon bonds offer additional yield and income versus traditional 5% coupon bonds. Over 60% of Fund purchases during the period were in 4% or lower coupons and we continued to work toward establishing a weighting in line with the benchmark. |
• | The Fund’s holdings of bonds inside of two years and pre-refunded bonds produced modest total returns that underperformed the benchmark. We do not believe there is anything inherently wrong with these holdings. They are just very short and/or very high-quality holdings that are low yielding. In our view, they are natural reinvestment candidates and are excellent sources of liquidity. |
• | The timing of a few purchases detracted from performance. Rates bottomed out during late July and into August. We were intentionally not very active during these periods as we believed the strong supply/demand technical environment was driving municipal bonds to potentially rich levels. However, we did purchase a few positions that we felt were attractive. As rates drifted up during the remainder of the period, these positions became performance detractors. |
6 | Columbia New York Intermediate Municipal Bond Fund | Annual Report 2021 |
Columbia New York Intermediate Municipal Bond Fund | Annual Report 2021 | 7 |
(Unaudited)
May 1, 2021 — October 31, 2021 | |||||||
Account value at the beginning of the period ($) | Account value at the end of the period ($) | Expenses paid during the period ($) | Fund’s annualized expense ratio (%) | ||||
Actual | Hypothetical | Actual | Hypothetical | Actual | Hypothetical | Actual | |
Class A | 1,000.00 | 1,000.00 | 1,001.10 | 1,021.19 | 3.74 | 3.78 | 0.75 |
Advisor Class | 1,000.00 | 1,000.00 | 1,003.20 | 1,022.44 | 2.50 | 2.52 | 0.50 |
Class C | 1,000.00 | 1,000.00 | 999.70 | 1,018.95 | 5.98 | 6.04 | 1.20 |
Institutional Class | 1,000.00 | 1,000.00 | 1,002.40 | 1,022.44 | 2.50 | 2.52 | 0.50 |
Institutional 2 Class | 1,000.00 | 1,000.00 | 1,002.80 | 1,022.79 | 2.15 | 2.17 | 0.43 |
Institutional 3 Class | 1,000.00 | 1,000.00 | 1,003.80 | 1,023.04 | 1.90 | 1.92 | 0.38 |
Class V | 1,000.00 | 1,000.00 | 1,001.60 | 1,021.69 | 3.24 | 3.28 | 0.65 |
8 | Columbia New York Intermediate Municipal Bond Fund | Annual Report 2021 |
October 31, 2021
Municipal Bonds 98.0% | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Air Transportation 1.5% | ||||
New York Transportation Development Corp.(a) | ||||
Refunding Revenue Bonds | ||||
American Airlines, Inc. Project | ||||
Series 2021 | ||||
08/01/2031 | 3.000% | 650,000 | 693,028 | |
Terminal 4 John F. Kennedy International Airport Project | ||||
Series 2020 | ||||
12/01/2036 | 5.000% | 800,000 | 988,343 | |
12/01/2038 | 4.000% | 300,000 | 338,192 | |
New York Transportation Development Corp. | ||||
Refunding Revenue Bonds | ||||
Terminal 4 John F. Kennedy International Airport Project | ||||
Series 2020 | ||||
12/01/2038 | 5.000% | 1,000,000 | 1,239,620 | |
Total | 3,259,183 | |||
Charter Schools 1.2% | ||||
Build NYC Resource Corp. | ||||
Revenue Bonds | ||||
Academic Leadership Charter School Project | ||||
Series 2021 | ||||
06/15/2036 | 4.000% | 200,000 | 224,496 | |
International Leadership Charter School | ||||
Series 2013 | ||||
07/01/2023 | 5.000% | 765,000 | 789,118 | |
Build NYC Resource Corp.(b) | ||||
Revenue Bonds | ||||
International Leadership Charter School | ||||
Series 2016 | ||||
07/01/2046 | 6.250% | 420,000 | 454,801 | |
Monroe County Industrial Development Corp.(b) | ||||
Revenue Bonds | ||||
True North Rochester Preparatory Charter School Project | ||||
Series 2020 | ||||
06/01/2040 | 5.000% | 900,000 | 1,051,978 | |
Total | 2,520,393 | |||
Health Services 1.8% | ||||
New York State Dormitory Authority | ||||
Refunding Revenue Bonds | ||||
Icahn School of Medicine at Mount Sinai | ||||
Series 2015 | ||||
07/01/2030 | 5.000% | 3,400,000 | 3,875,395 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Higher Education 7.1% | ||||
Albany Capital Resource Corp. | ||||
Refunding Revenue Bonds | ||||
Albany College of Pharmacy & Health Services | ||||
Series 2014 | ||||
12/01/2031 | 5.000% | 500,000 | 550,039 | |
Build NYC Resource Corp. | ||||
Refunding Revenue Bonds | ||||
City University of New York-Queens | ||||
Series 2014A | ||||
06/01/2029 | 5.000% | 225,000 | 250,187 | |
06/01/2030 | 5.000% | 300,000 | 333,582 | |
Manhattan College Project | ||||
Series 2017 | ||||
08/01/2033 | 5.000% | 400,000 | 475,190 | |
County of Saratoga | ||||
Revenue Bonds | ||||
Skidmore College Project | ||||
Series 2018 | ||||
07/01/2033 | 5.000% | 165,000 | 203,439 | |
07/01/2034 | 5.000% | 200,000 | 246,088 | |
07/01/2035 | 5.000% | 200,000 | 245,728 | |
Dutchess County Local Development Corp. | ||||
Refunding Revenue Bonds | ||||
Culinary Institute of America (The) | ||||
Series 2018 | ||||
07/01/2032 | 5.000% | 220,000 | 260,754 | |
Vassar College Project | ||||
Series 2017 | ||||
07/01/2034 | 5.000% | 500,000 | 605,571 | |
Revenue Bonds | ||||
Marist College Project | ||||
Series 2015A | ||||
07/01/2029 | 5.000% | 1,000,000 | 1,143,887 | |
Series 2018 | ||||
07/01/2031 | 5.000% | 170,000 | 209,983 | |
07/01/2032 | 5.000% | 210,000 | 258,914 | |
07/01/2033 | 5.000% | 205,000 | 252,316 | |
Hempstead Town Local Development Corp. | ||||
Revenue Bonds | ||||
Hofstra University Project | ||||
Series 2013 | ||||
07/01/2028 | 5.000% | 1,170,000 | 1,249,994 | |
New York State Dormitory Authority | ||||
Refunding Revenue Bonds | ||||
Barnard College | ||||
Series 2015A | ||||
07/01/2030 | 5.000% | 700,000 | 799,775 |
Columbia New York Intermediate Municipal Bond Fund | Annual Report 2021 | 9 |
October 31, 2021
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Rochester Institute | ||||
Series 2019A | ||||
07/01/2036 | 5.000% | 750,000 | 940,962 | |
St. John’s University | ||||
Series 2015A | ||||
07/01/2030 | 5.000% | 2,340,000 | 2,669,903 | |
Teacher’s College | ||||
Series 2017 | ||||
07/01/2029 | 5.000% | 175,000 | 212,578 | |
07/01/2030 | 5.000% | 150,000 | 181,890 | |
Revenue Bonds | ||||
New York University | ||||
Series 2019A | ||||
07/01/2037 | 5.000% | 2,000,000 | 2,543,124 | |
St. Lawrence County Industrial Development Agency(c) | ||||
Refunding Revenue Bonds | ||||
Clarkson University Project | ||||
Series 2021 | ||||
09/01/2038 | 5.000% | 200,000 | 246,727 | |
09/01/2039 | 5.000% | 200,000 | 246,115 | |
Tompkins County Development Corp. | ||||
Refunding Revenue Bonds | ||||
Ithaca College Project | ||||
Series 2018 | ||||
07/01/2034 | 5.000% | 575,000 | 699,733 | |
Troy Capital Resource Corp. | ||||
Refunding Revenue Bonds | ||||
Forward Delivery - Rensselaer Polytechnic Institute Project | ||||
Series 2020 | ||||
09/01/2037 | 5.000% | 250,000 | 315,508 | |
Total | 15,141,987 | |||
Hospital 11.9% | ||||
Buffalo & Erie County Industrial Land Development Corp. | ||||
Revenue Bonds | ||||
Catholic Health System | ||||
Series 2015 | ||||
07/01/2027 | 5.000% | 400,000 | 449,671 | |
07/01/2028 | 5.000% | 360,000 | 402,941 | |
County of Saratoga | ||||
Revenue Bonds | ||||
Saratoga Hospital Project | ||||
Series 2013A | ||||
12/01/2024 | 5.000% | 1,085,000 | 1,187,526 | |
12/01/2025 | 5.000% | 1,115,000 | 1,219,628 | |
12/01/2027 | 5.000% | 1,225,000 | 1,338,341 | |
Dutchess County Local Development Corp. | ||||
Refunding Revenue Bonds | ||||
Nuvance Health Issue | ||||
Series 2019B | ||||
07/01/2033 | 5.000% | 1,250,000 | 1,563,092 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Monroe County Industrial Development Corp. | ||||
Refunding Revenue Bonds | ||||
Highland Hospital Rochester Project | ||||
Series 2015 | ||||
07/01/2025 | 5.000% | 450,000 | 515,491 | |
07/01/2026 | 5.000% | 350,000 | 399,577 | |
University of Rochester Project | ||||
Series 2017 | ||||
07/01/2035 | 4.000% | 1,285,000 | 1,472,721 | |
Revenue Bonds | ||||
Rochester General Hospital (The) | ||||
Series 2017 | ||||
12/01/2035 | 5.000% | 1,000,000 | 1,159,763 | |
Nassau County Local Economic Assistance Corp. | ||||
Revenue Bonds | ||||
Catholic Health Services of Long Island | ||||
Series 2014 | ||||
07/01/2032 | 5.000% | 1,250,000 | 1,385,343 | |
07/01/2033 | 5.000% | 675,000 | 747,142 | |
New York State Dormitory Authority | ||||
Refunding Revenue Bonds | ||||
Catholic Health System Obligation Group | ||||
Series 2019 | ||||
07/01/2035 | 5.000% | 300,000 | 356,496 | |
07/01/2036 | 5.000% | 1,000,000 | 1,185,292 | |
Memorial Sloan-Kettering Cancer Center | ||||
Series 2017 | ||||
07/01/2034 | 4.000% | 1,000,000 | 1,148,746 | |
Montefiore Obligated Group | ||||
Series 2020A | ||||
09/01/2037 | 4.000% | 300,000 | 343,597 | |
North Shore - Long Island Jewish Obligation Group | ||||
Series 2015A | ||||
05/01/2031 | 5.000% | 3,000,000 | 3,424,573 | |
NYU Hospitals Center | ||||
Series 2014 | ||||
07/01/2030 | 5.000% | 1,000,000 | 1,115,017 | |
07/01/2031 | 5.000% | 1,000,000 | 1,114,453 | |
Revenue Bonds | ||||
Memorial Sloan Kettering Cancer Center | ||||
Series 2019 | ||||
07/01/2035 | 5.000% | 2,000,000 | 2,555,731 | |
07/01/2036 | 5.000% | 1,000,000 | 1,275,407 | |
New York State Dormitory Authority(b) | ||||
Refunding Revenue Bonds | ||||
Orange Regional Medical Center | ||||
Series 2017 | ||||
12/01/2031 | 5.000% | 1,000,000 | 1,191,766 | |
Total | 25,552,314 |
10 | Columbia New York Intermediate Municipal Bond Fund | Annual Report 2021 |
October 31, 2021
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Local General Obligation 17.5% | ||||
City of New York | ||||
Unlimited General Obligation Bonds | ||||
Fiscal 2020 | ||||
Series 2019B-1 | ||||
10/01/2038 | 5.000% | 1,000,000 | 1,248,487 | |
Subordinated Series 2019H-A | ||||
01/01/2035 | 5.000% | 1,500,000 | 1,853,503 | |
Unlimited General Obligation Refunding Bonds | ||||
Series 2014J | ||||
08/01/2030 | 5.000% | 1,500,000 | 1,681,462 | |
Series 2019E | ||||
08/01/2025 | 5.000% | 1,000,000 | 1,164,319 | |
Series 2020A-1 | ||||
08/01/2033 | 5.000% | 1,000,000 | 1,282,436 | |
Series 2020D | ||||
08/01/2031 | 5.000% | 2,000,000 | 2,581,689 | |
Unlimited General Obligation Refunding Notes | ||||
Series 2016C | ||||
08/01/2032 | 5.000% | 2,000,000 | 2,346,756 | |
City of Syracuse | ||||
Limited General Obligation Refunding & Public Improvement Bonds | ||||
Series 2014 | ||||
08/15/2023 | 5.000% | 405,000 | 438,430 | |
Limited General Obligation Refunding Bonds | ||||
Series 2015A | ||||
03/01/2024 | 5.000% | 1,000,000 | 1,105,941 | |
City of Yonkers | ||||
Limited General Obligation Bonds | ||||
Series 2016A (AGM) | ||||
11/15/2028 | 5.000% | 1,780,000 | 2,130,425 | |
Series 2017A (BAM) | ||||
09/01/2028 | 5.000% | 2,090,000 | 2,550,236 | |
County of Allegany | ||||
Limited General Obligation Refunding Bonds | ||||
Public Improvement | ||||
Series 2014 (BAM) | ||||
09/15/2028 | 5.000% | 1,375,000 | 1,545,247 | |
County of Monroe(a) | ||||
Limited General Obligation Public Improvement Bonds | ||||
Series 2019B (BAM) | ||||
06/01/2027 | 5.000% | 1,350,000 | 1,621,249 | |
County of Nassau | ||||
Limited General Obligation Bonds | ||||
Series 2017B | ||||
04/01/2033 | 5.000% | 2,000,000 | 2,389,337 | |
County of Rockland | ||||
Limited General Obligation Bonds | ||||
Series 2014A (AGM) | ||||
03/01/2024 | 5.000% | 1,450,000 | 1,607,555 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Monroe County Industrial Development Agency | ||||
Revenue Bonds | ||||
Rochester Schools Modernization Program | ||||
Series 2018 | ||||
05/01/2034 | 5.000% | 750,000 | 920,624 | |
New York State Dormitory Authority | ||||
Refunding Revenue Bonds | ||||
School Districts Bond Financing | ||||
Series 2013E (AGM) | ||||
10/01/2031 | 5.000% | 500,000 | 561,870 | |
School Districts Financing Program | ||||
Series 2015B (AGM) | ||||
10/01/2027 | 5.000% | 2,010,000 | 2,344,864 | |
Revenue Bonds | ||||
School District Building Financing Program | ||||
Series 2018 | ||||
10/01/2032 | 5.000% | 2,000,000 | 2,395,878 | |
Ramapo Local Development Corp. | ||||
Refunding Revenue Bonds | ||||
Guaranteed | ||||
Series 2013 | ||||
03/15/2028 | 5.000% | 2,180,000 | 2,261,280 | |
Syracuse Industrial Development Agency | ||||
Revenue Bonds | ||||
Syracuse City School District Project | ||||
Series 2020A | ||||
05/01/2029 | 5.000% | 1,000,000 | 1,248,821 | |
Town of Oyster Bay | ||||
Limited General Obligation Refunding & Public Improvement Bonds | ||||
Series 2014B | ||||
08/15/2023 | 5.000% | 1,850,000 | 2,003,053 | |
Limited General Obligation Refunding Bonds | ||||
Series 2020 (BAM) | ||||
11/01/2027 | 4.000% | 250,000 | 292,342 | |
Total | 37,575,804 | |||
Multi-Family 1.6% | ||||
Amherst Development Corp. | ||||
Refunding Revenue Bonds | ||||
University of Buffalo Student Housing | ||||
Series 2017 (AGM) | ||||
10/01/2028 | 5.000% | 730,000 | 892,536 | |
10/01/2029 | 5.000% | 1,290,000 | 1,570,571 | |
Onondaga County Trust for Cultural Resources | ||||
Refunding Revenue Bonds | ||||
Abby Lane Housing Corp. Project | ||||
Series 2017 | ||||
05/01/2030 | 5.000% | 420,000 | 494,861 | |
05/01/2031 | 5.000% | 400,000 | 469,455 | |
Total | 3,427,423 |
Columbia New York Intermediate Municipal Bond Fund | Annual Report 2021 | 11 |
October 31, 2021
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Municipal Power 6.6% | ||||
Long Island Power Authority | ||||
Refunding Revenue Bonds | ||||
Series 2014A | ||||
09/01/2034 | 5.000% | 2,000,000 | 2,246,347 | |
Series 2016B | ||||
09/01/2025 | 5.000% | 2,500,000 | 2,926,742 | |
09/01/2027 | 5.000% | 1,000,000 | 1,201,538 | |
09/01/2030 | 5.000% | 2,750,000 | 3,273,960 | |
Series 2020A | ||||
09/01/2033 | 5.000% | 500,000 | 650,523 | |
Revenue Bonds | ||||
Electric System General Purpose | ||||
Series 2015B | ||||
09/01/2032 | 5.000% | 765,000 | 885,156 | |
General | ||||
Series 2017 | ||||
09/01/2035 | 5.000% | 1,200,000 | 1,464,509 | |
Series 2012B | ||||
09/01/2026 | 5.000% | 1,510,000 | 1,569,403 | |
Total | 14,218,178 | |||
Nursing Home 0.7% | ||||
Monroe County Industrial Development Corp. | ||||
Refunding Revenue Bonds | ||||
St. Ann’s Community Project | ||||
Series 2019 | ||||
01/01/2030 | 4.000% | 1,415,000 | 1,544,981 | |
Other Bond Issue 1.0% | ||||
Build NYC Resource Corp. | ||||
Revenue Bonds | ||||
Children’s Aid Society Project (The) | ||||
Series 2019 | ||||
07/01/2036 | 4.000% | 100,000 | 116,116 | |
Series 2015 | ||||
07/01/2029 | 5.000% | 545,000 | 618,568 | |
07/01/2031 | 5.000% | 715,000 | 809,803 | |
New York Transportation Development Corp.(a) | ||||
Revenue Bonds | ||||
New York State Thruway Service Areas Project | ||||
Series 2021 | ||||
10/31/2034 | 4.000% | 500,000 | 582,191 | |
Total | 2,126,678 | |||
Other Industrial Development Bond 1.2% | ||||
Chautauqua County Capital Resource Corp. | ||||
Refunding Revenue Bonds | ||||
NRG Energy Project | ||||
Series 2020 (Mandatory Put 04/03/23) | ||||
04/01/2042 | 1.300% | 2,500,000 | 2,513,142 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Other Revenue 0.2% | ||||
New York City Trust for Cultural Resources | ||||
Refunding Revenue Bonds | ||||
Carnegie Hall | ||||
Series 2019 | ||||
12/01/2037 | 5.000% | 275,000 | 345,133 | |
Pool / Bond Bank 2.0% | ||||
New York State Dormitory Authority | ||||
Refunding Revenue Bonds | ||||
New School | ||||
Series 2015 | ||||
07/01/2029 | 5.000% | 420,000 | 479,291 | |
Revenue Bonds | ||||
School District Financing Program | ||||
Series 2012B | ||||
10/01/2026 | 5.000% | 3,000,000 | 3,125,834 | |
New York State Environmental Facilities Corp. | ||||
Refunding Revenue Bonds | ||||
Subordinated Series 2019B | ||||
06/15/2029 | 5.000% | 500,000 | 643,578 | |
Total | 4,248,703 | |||
Ports 6.5% | ||||
Port Authority of New York & New Jersey | ||||
Refunding Revenue Bonds | ||||
Consolidated 184th | ||||
Series 2014 | ||||
09/01/2030 | 5.000% | 2,000,000 | 2,253,579 | |
Consolidated 211th | ||||
Series 2018 | ||||
09/01/2038 | 4.000% | 1,400,000 | 1,635,406 | |
Series 2018-209 | ||||
07/15/2034 | 5.000% | 2,500,000 | 3,097,081 | |
Series 2018-211 | ||||
09/01/2036 | 5.000% | 1,000,000 | 1,238,558 | |
Port Authority of New York & New Jersey(a) | ||||
Refunding Revenue Bonds | ||||
Series 2015-188 | ||||
05/01/2023 | 5.000% | 1,055,000 | 1,127,733 | |
Series 2018-207 | ||||
09/15/2024 | 5.000% | 1,985,000 | 2,235,015 | |
Revenue Bonds | ||||
Consolidated | ||||
Series 2019 | ||||
09/01/2033 | 5.000% | 1,000,000 | 1,236,934 | |
Consolidated Bonds | ||||
Series 221 | ||||
07/15/2037 | 4.000% | 1,000,000 | 1,163,345 | |
Total | 13,987,651 |
12 | Columbia New York Intermediate Municipal Bond Fund | Annual Report 2021 |
October 31, 2021
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Prep School 1.4% | ||||
Build NYC Resource Corp. | ||||
Refunding Revenue Bonds | ||||
Horace Mann School Project | ||||
Series 2014 | ||||
07/01/2026 | 5.000% | 475,000 | 533,264 | |
07/01/2027 | 5.000% | 600,000 | 671,044 | |
Series 2015 | ||||
06/01/2026 | 5.000% | 225,000 | 257,509 | |
06/01/2028 | 5.000% | 250,000 | 283,734 | |
Rensselaer County Industrial Development Agency | ||||
Refunding Revenue Bonds | ||||
Emma Willard School Project | ||||
Series 2015A | ||||
01/01/2034 | 5.000% | 450,000 | 507,119 | |
01/01/2035 | 5.000% | 590,000 | 663,985 | |
Total | 2,916,655 | |||
Refunded / Escrowed 5.2% | ||||
Build NYC Resource Corp. | ||||
Prerefunded 07/01/24 Revenue Bonds | ||||
New York Methodist Hospital Project | ||||
Series 2014 | ||||
07/01/2028 | 5.000% | 150,000 | 168,186 | |
07/01/2029 | 5.000% | 175,000 | 196,217 | |
Prerefunded 08/01/25 Revenue Bonds | ||||
YMCA of Greater New York Project | ||||
Series 2015 | ||||
08/01/2029 | 5.000% | 430,000 | 500,031 | |
Dutchess County Local Development Corp. | ||||
Prerefunded 07/01/24 Revenue Bonds | ||||
Series 2014A | ||||
07/01/2034 | 5.000% | 300,000 | 336,372 | |
Metropolitan Transportation Authority | ||||
Prerefunded 11/15/24 Revenue Bonds | ||||
Series 2014C | ||||
11/15/2029 | 5.000% | 3,000,000 | 3,422,931 | |
New York State Dormitory Authority | ||||
Prerefunded 07/01/22 Revenue Bonds | ||||
Culinary Institute of America | ||||
Series 2012 | ||||
07/01/2028 | 5.000% | 500,000 | 515,681 | |
Prerefunded 07/01/24 Revenue Bonds | ||||
Pratt Institute | ||||
Series 2015A | ||||
07/01/2034 | 5.000% | 2,000,000 | 2,242,482 | |
Prerefunded 07/01/25 Revenue Bonds | ||||
New School | ||||
Series 2015 | ||||
07/01/2029 | 5.000% | 30,000 | 34,825 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
New York State Dormitory Authority(d) | ||||
Revenue Bonds | ||||
Capital Appreciation-Memorial Sloan-Kettering Cancer Center | ||||
Series 2003-1 Escrowed to Maturity (NPFGC) | ||||
07/01/2025 | 0.000% | 3,750,000 | 3,675,742 | |
Total | 11,092,467 | |||
Retirement Communities 2.6% | ||||
Brookhaven Local Development Corp. | ||||
Refunding Revenue Bonds | ||||
Jefferson’s Ferry Project | ||||
Series 2016 | ||||
11/01/2036 | 5.250% | 750,000 | 885,024 | |
Buffalo & Erie County Industrial Land Development Corp. | ||||
Refunding Revenue Bonds | ||||
Orchard Park | ||||
Series 2015 | ||||
11/15/2029 | 5.000% | 550,000 | 622,114 | |
11/15/2030 | 5.000% | 650,000 | 732,512 | |
Suffolk County Economic Development Corp. | ||||
Refunding Revenue Bonds | ||||
Peconic Landing at Southhold, Inc. | ||||
Series 2020 | ||||
12/01/2034 | 5.000% | 1,000,000 | 1,158,179 | |
Tompkins County Development Corp. | ||||
Refunding Revenue Bonds | ||||
Kendal at Ithaca, Inc. Project | ||||
Series 2014 | ||||
07/01/2029 | 5.000% | 1,000,000 | 1,100,982 | |
07/01/2034 | 5.000% | 1,000,000 | 1,093,242 | |
Total | 5,592,053 | |||
Single Family 0.0% | ||||
State of New York Mortgage Agency | ||||
Refunding Revenue Bonds | ||||
Series 2018-211 | ||||
10/01/2038 | 3.625% | 110,000 | 117,441 | |
Special Non Property Tax 11.7% | ||||
New York City Transitional Finance Authority | ||||
Refunding Revenue Bonds | ||||
Building Aid | ||||
Series 2018S-2A | ||||
07/15/2036 | 5.000% | 2,000,000 | 2,471,469 | |
Future Tax Secured | ||||
Subordinated Series 2020 | ||||
11/01/2035 | 4.000% | 500,000 | 590,953 | |
Revenue Bonds | ||||
Building Aid | ||||
Series 2018S-3 | ||||
07/15/2034 | 5.000% | 1,000,000 | 1,237,383 |
Columbia New York Intermediate Municipal Bond Fund | Annual Report 2021 | 13 |
October 31, 2021
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Future Tax Bonds | ||||
Subordinated Series 2020C | ||||
05/01/2037 | 4.000% | 500,000 | 586,465 | |
Future Tax Secured | ||||
Subordinated Series 2016E-1 | ||||
02/01/2032 | 5.000% | 3,000,000 | 3,518,762 | |
Subordinated Series 2019 | ||||
11/01/2034 | 5.000% | 3,500,000 | 4,407,211 | |
New York Convention Center Development Corp. | ||||
Refunding Revenue Bonds | ||||
Hotel Unit Fee Secured | ||||
Series 2015 | ||||
11/15/2027 | 5.000% | 4,120,000 | 4,784,828 | |
New York State Dormitory Authority | ||||
Refunding Revenue Bonds | ||||
Education | ||||
Series 2005B (AMBAC) | ||||
03/15/2026 | 5.500% | 1,000,000 | 1,206,804 | |
Series 2019A-2 | ||||
03/15/2035 | 5.000% | 2,000,000 | 2,507,299 | |
New York State Urban Development Corp. | ||||
Refunding Revenue Bonds | ||||
State Personal Income Tax | ||||
Series 2020C | ||||
03/15/2037 | 4.000% | 1,000,000 | 1,180,493 | |
03/15/2039 | 4.000% | 1,130,000 | 1,327,847 | |
Revenue Bonds | ||||
Series 2020A | ||||
03/15/2037 | 5.000% | 1,000,000 | 1,269,675 | |
Total | 25,089,189 | |||
Special Property Tax 0.6% | ||||
Hudson Yards Infrastructure Corp. | ||||
Refunding Revenue Bonds | ||||
Series 2017A | ||||
02/15/2033 | 5.000% | 1,000,000 | 1,194,355 | |
Tobacco 2.7% | ||||
Chautauqua Tobacco Asset Securitization Corp. | ||||
Refunding Revenue Bonds | ||||
Series 2014 | ||||
06/01/2029 | 5.000% | 2,165,000 | 2,169,438 | |
Suffolk Tobacco Asset Securitization Corp. | ||||
Refunding Revenue Bonds | ||||
Tobacco Settlement Asset-Backed Bonds | ||||
Series 2021 | ||||
06/01/2038 | 4.000% | 1,000,000 | 1,172,048 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
TSASC, Inc. | ||||
Refunding Revenue Bonds | ||||
Series 2017A | ||||
06/01/2031 | 5.000% | 2,000,000 | 2,375,262 | |
Total | 5,716,748 | |||
Transportation 6.0% | ||||
Metropolitan Transportation Authority | ||||
Refunding Revenue Bonds | ||||
Climate Bond Certified - Green | ||||
Series 2018 | ||||
11/15/2026 | 5.000% | 2,590,000 | 3,089,584 | |
Revenue Bonds | ||||
BAN Series 2019B-1 | ||||
05/15/2022 | 5.000% | 2,100,000 | 2,152,645 | |
BAN Series 2019D-1 | ||||
09/01/2022 | 5.000% | 2,000,000 | 2,077,583 | |
Series 2005B (AMBAC) | ||||
11/15/2024 | 5.250% | 750,000 | 857,458 | |
Series 2016C-1 | ||||
11/15/2036 | 5.000% | 3,000,000 | 3,486,892 | |
Metropolitan Transportation Authority(d) | ||||
Refunding Revenue Bonds | ||||
Green Bonds | ||||
Series 2017C-2 | ||||
11/15/2029 | 0.000% | 1,500,000 | 1,281,850 | |
Total | 12,946,012 | |||
Turnpike / Bridge / Toll Road 5.9% | ||||
New York State Bridge Authority | ||||
Revenue Bonds | ||||
Series 2021A | ||||
01/01/2038 | 4.000% | 200,000 | 238,896 | |
01/01/2039 | 4.000% | 275,000 | 327,680 | |
New York State Thruway Authority | ||||
Refunding Revenue Bonds | ||||
Series 2014K | ||||
01/01/2029 | 5.000% | 1,850,000 | 2,100,497 | |
01/01/2032 | 5.000% | 1,000,000 | 1,130,693 | |
Revenue Bonds | ||||
Junior Lien | ||||
Series 2016A | ||||
01/01/2033 | 5.000% | 1,000,000 | 1,166,675 | |
Series 2019B | ||||
01/01/2036 | 5.000% | 2,000,000 | 2,522,964 | |
Triborough Bridge & Tunnel Authority | ||||
Refunding Revenue Bonds | ||||
Series 2018-B | ||||
11/15/2031 | 5.000% | 2,000,000 | 2,680,244 |
14 | Columbia New York Intermediate Municipal Bond Fund | Annual Report 2021 |
October 31, 2021
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Revenue Bonds | ||||
Series 2020D | ||||
11/15/2037 | 4.000% | 2,050,000 | 2,450,984 | |
Total | 12,618,633 | |||
Water & Sewer 1.1% | ||||
Buffalo Municipal Water Finance Authority | ||||
Refunding Revenue Bonds | ||||
Series 2015A | ||||
07/01/2028 | 5.000% | 700,000 | 807,898 | |
New York City Water & Sewer System | ||||
Refunding Revenue Bonds | ||||
Series 2019AA | ||||
06/15/2032 | 5.000% | 1,000,000 | 1,290,142 | |
Western Nassau County Water Authority | ||||
Revenue Bonds | ||||
Series 2015A | ||||
04/01/2027 | 5.000% | 145,000 | 166,218 | |
04/01/2028 | 5.000% | 175,000 | 200,225 | |
Total | 2,464,483 | |||
Total Municipal Bonds (Cost $197,575,359) | 210,085,001 |
Money Market Funds 1.3% | ||
Shares | Value ($) | |
Dreyfus Tax Exempt Cash Management Fund, Institutional Shares, 0.010%(e) | 200,206 | 200,186 |
JPMorgan Institutional Tax Free Money Market Fund, Institutional Shares, 0.006%(e) | 2,701,405 | 2,701,405 |
Total Money Market Funds (Cost $2,901,611) | 2,901,591 | |
Total Investments in Securities (Cost: $200,476,970) | 212,986,592 | |
Other Assets & Liabilities, Net | 1,472,030 | |
Net Assets | 214,458,622 |
(a) | Income from this security may be subject to alternative minimum tax. |
(b) | Represents privately placed and other securities and instruments exempt from Securities and Exchange Commission registration (collectively, private placements), such as Section 4(a)(2) and Rule 144A eligible securities, which are often sold only to qualified institutional buyers. At October 31, 2021, the total value of these securities amounted to $2,698,545, which represents 1.26% of total net assets. |
(c) | Represents a security purchased on a when-issued basis. |
(d) | Zero coupon bond. |
(e) | The rate shown is the seven-day current annualized yield at October 31, 2021. |
AGM | Assured Guaranty Municipal Corporation |
AMBAC | Ambac Assurance Corporation |
BAM | Build America Mutual Assurance Co. |
BAN | Bond Anticipation Note |
NPFGC | National Public Finance Guarantee Corporation |
■ | Level 1 — Valuations based on quoted prices for investments in active markets that the Fund has the ability to access at the measurement date. Valuation adjustments are not applied to Level 1 investments. |
Columbia New York Intermediate Municipal Bond Fund | Annual Report 2021 | 15 |
October 31, 2021
■ | Level 2 — Valuations based on other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risks, etc.). |
■ | Level 3 — Valuations based on significant unobservable inputs (including the Fund’s own assumptions and judgment in determining the fair value of investments). |
Level 1 ($) | Level 2 ($) | Level 3 ($) | Total ($) | |
Investments in Securities | ||||
Municipal Bonds | — | 210,085,001 | — | 210,085,001 |
Money Market Funds | 2,901,591 | — | — | 2,901,591 |
Total Investments in Securities | 2,901,591 | 210,085,001 | — | 212,986,592 |
16 | Columbia New York Intermediate Municipal Bond Fund | Annual Report 2021 |
October 31, 2021
Assets | |
Investments in securities, at value | |
Unaffiliated issuers (cost $200,476,970) | $212,986,592 |
Receivable for: | |
Capital shares sold | 115,671 |
Interest | 2,583,613 |
Expense reimbursement due from Investment Manager | 765 |
Prepaid expenses | 4,543 |
Trustees’ deferred compensation plan | 99,151 |
Total assets | 215,790,335 |
Liabilities | |
Due to custodian | 5,235 |
Payable for: | |
Investments purchased on a delayed delivery basis | 505,982 |
Capital shares purchased | 300,880 |
Distributions to shareholders | 370,549 |
Management services fees | 2,762 |
Distribution and/or service fees | 238 |
Transfer agent fees | 21,289 |
Compensation of board members | 6,247 |
Compensation of chief compliance officer | 6 |
Other expenses | 19,374 |
Trustees’ deferred compensation plan | 99,151 |
Total liabilities | 1,331,713 |
Net assets applicable to outstanding capital stock | $214,458,622 |
Represented by | |
Paid in capital | 201,489,478 |
Total distributable earnings (loss) | 12,969,144 |
Total - representing net assets applicable to outstanding capital stock | $214,458,622 |
Columbia New York Intermediate Municipal Bond Fund | Annual Report 2021 | 17 |
October 31, 2021
Class A | |
Net assets | $20,314,976 |
Shares outstanding | 1,679,769 |
Net asset value per share | $12.09 |
Maximum sales charge | 3.00% |
Maximum offering price per share (calculated by dividing the net asset value per share by 1.0 minus the maximum sales charge for Class A shares) | $12.46 |
Advisor Class | |
Net assets | $6,108,914 |
Shares outstanding | 505,874 |
Net asset value per share | $12.08 |
Class C | |
Net assets | $4,061,667 |
Shares outstanding | 335,784 |
Net asset value per share | $12.10 |
Institutional Class | |
Net assets | $173,347,094 |
Shares outstanding | 14,334,857 |
Net asset value per share | $12.09 |
Institutional 2 Class | |
Net assets | $4,283,878 |
Shares outstanding | 353,704 |
Net asset value per share | $12.11 |
Institutional 3 Class | |
Net assets | $1,259,262 |
Shares outstanding | 103,767 |
Net asset value per share | $12.14 |
Class V | |
Net assets | $5,082,831 |
Shares outstanding | 420,329 |
Net asset value per share | $12.09 |
Maximum sales charge | 4.75% |
Maximum offering price per share (calculated by dividing the net asset value per share by 1.0 minus the maximum sales charge for Class V shares) | $12.69 |
18 | Columbia New York Intermediate Municipal Bond Fund | Annual Report 2021 |
Year Ended October 31, 2021
Net investment income | |
Income: | |
Dividends — unaffiliated issuers | $395 |
Interest | 5,870,311 |
Total income | 5,870,706 |
Expenses: | |
Management services fees | 1,044,472 |
Distribution and/or service fees | |
Class A | 50,580 |
Class C | 50,766 |
Class V | 7,935 |
Transfer agent fees | |
Class A | 25,986 |
Advisor Class | 6,855 |
Class C | 6,531 |
Institutional Class | 233,221 |
Institutional 2 Class | 2,120 |
Institutional 3 Class | 154 |
Class V | 6,798 |
Compensation of board members | 16,665 |
Custodian fees | 1,692 |
Printing and postage fees | 14,483 |
Registration fees | 22,553 |
Audit fees | 29,500 |
Legal fees | 11,979 |
Compensation of chief compliance officer | 59 |
Other | 14,589 |
Total expenses | 1,546,938 |
Fees waived or expenses reimbursed by Investment Manager and its affiliates | (331,343) |
Fees waived by distributor | |
Class C | (15,236) |
Expense reduction | (120) |
Total net expenses | 1,200,239 |
Net investment income | 4,670,467 |
Realized and unrealized gain (loss) — net | |
Net realized gain (loss) on: | |
Investments — unaffiliated issuers | 411,451 |
Net realized gain | 411,451 |
Net change in unrealized appreciation (depreciation) on: | |
Investments — unaffiliated issuers | 1,823,798 |
Net change in unrealized appreciation (depreciation) | 1,823,798 |
Net realized and unrealized gain | 2,235,249 |
Net increase in net assets resulting from operations | $6,905,716 |
Columbia New York Intermediate Municipal Bond Fund | Annual Report 2021 | 19 |
Year Ended October 31, 2021 | Year Ended October 31, 2020 | |
Operations | ||
Net investment income | $4,670,467 | $5,308,482 |
Net realized gain | 411,451 | 55,729 |
Net change in unrealized appreciation (depreciation) | 1,823,798 | (1,689,731) |
Net increase in net assets resulting from operations | 6,905,716 | 3,674,480 |
Distributions to shareholders | ||
Net investment income and net realized gains | ||
Class A | (399,260) | (435,260) |
Advisor Class | (118,391) | (70,536) |
Class C | (77,803) | (142,386) |
Institutional Class | (4,035,527) | (4,487,096) |
Institutional 2 Class | (84,123) | (88,328) |
Institutional 3 Class | (26,504) | (20,088) |
Class V | (109,630) | (124,102) |
Total distributions to shareholders | (4,851,238) | (5,367,796) |
Increase (decrease) in net assets from capital stock activity | (18,739,579) | 367,301 |
Total decrease in net assets | (16,685,101) | (1,326,015) |
Net assets at beginning of year | 231,143,723 | 232,469,738 |
Net assets at end of year | $214,458,622 | $231,143,723 |
20 | Columbia New York Intermediate Municipal Bond Fund | Annual Report 2021 |
Year Ended | Year Ended | |||
October 31, 2021 | October 31, 2020 | |||
Shares | Dollars ($) | Shares | Dollars ($) | |
Capital stock activity | ||||
Class A | ||||
Subscriptions | 348,558 | 4,260,555 | 525,042 | 6,273,123 |
Distributions reinvested | 21,303 | 259,677 | 26,928 | 323,854 |
Redemptions | (528,646) | (6,430,053) | (309,519) | (3,699,143) |
Net increase (decrease) | (158,785) | (1,909,821) | 242,451 | 2,897,834 |
Advisor Class | ||||
Subscriptions | 199,900 | 2,437,253 | 292,545 | 3,496,582 |
Distributions reinvested | 9,707 | 118,166 | 5,861 | 70,298 |
Redemptions | (50,639) | (617,372) | (53,864) | (635,846) |
Net increase | 158,968 | 1,938,047 | 244,542 | 2,931,034 |
Class C | ||||
Subscriptions | 39,109 | 476,677 | 72,543 | 870,408 |
Distributions reinvested | 5,177 | 63,111 | 8,174 | 98,319 |
Redemptions | (235,292) | (2,874,573) | (381,829) | (4,589,929) |
Net decrease | (191,006) | (2,334,785) | (301,112) | (3,621,202) |
Institutional Class | ||||
Subscriptions | 562,131 | 6,853,396 | 2,173,205 | 26,104,364 |
Distributions reinvested | 56,273 | 685,922 | 58,372 | 701,951 |
Redemptions | (2,011,197) | (24,512,912) | (2,382,265) | (28,436,761) |
Net decrease | (1,392,793) | (16,973,594) | (150,688) | (1,630,446) |
Institutional 2 Class | ||||
Subscriptions | 93,240 | 1,138,193 | 31,024 | 371,719 |
Distributions reinvested | 6,872 | 83,895 | 7,309 | 88,088 |
Redemptions | (36,868) | (448,169) | (71,688) | (851,545) |
Net increase (decrease) | 63,244 | 773,919 | (33,355) | (391,738) |
Institutional 3 Class | ||||
Subscriptions | 21,852 | 268,366 | 39,641 | 474,530 |
Distributions reinvested | 1,806 | 22,090 | 1,280 | 15,453 |
Redemptions | (8,370) | (102,238) | (8,399) | (103,615) |
Net increase | 15,288 | 188,218 | 32,522 | 386,368 |
Class V | ||||
Subscriptions | 2,290 | 27,897 | 1,798 | 21,604 |
Distributions reinvested | 5,784 | 70,504 | 6,300 | 75,767 |
Redemptions | (42,567) | (519,964) | (25,150) | (301,920) |
Net decrease | (34,493) | (421,563) | (17,052) | (204,549) |
Total net increase (decrease) | (1,539,577) | (18,739,579) | 17,308 | 367,301 |
Columbia New York Intermediate Municipal Bond Fund | Annual Report 2021 | 21 |
Net asset value, beginning of period | Net investment income | Net realized and unrealized gain (loss) | Total from investment operations | Distributions from net investment income | Distributions from net realized gains | Total distributions to shareholders | |
Class A | |||||||
Year Ended 10/31/2021 | $11.99 | 0.23 | 0.11 | 0.34 | (0.24) | (0.00)(c) | (0.24) |
Year Ended 10/31/2020 | $12.07 | 0.25 | (0.07) | 0.18 | (0.26) | (0.00)(c) | (0.26) |
Year Ended 10/31/2019 | $11.46 | 0.29 | 0.61 | 0.90 | (0.29) | — | (0.29) |
Year Ended 10/31/2018 | $11.91 | 0.31 | (0.44) | (0.13) | (0.31) | (0.01) | (0.32) |
Year Ended 10/31/2017 | $12.09 | 0.32 | (0.18) | 0.14 | (0.32) | (0.00)(c) | (0.32) |
Advisor Class | |||||||
Year Ended 10/31/2021 | $11.98 | 0.26 | 0.11 | 0.37 | (0.27) | (0.00)(c) | (0.27) |
Year Ended 10/31/2020 | $12.06 | 0.28 | (0.07) | 0.21 | (0.29) | (0.00)(c) | (0.29) |
Year Ended 10/31/2019 | $11.45 | 0.32 | 0.61 | 0.93 | (0.32) | — | (0.32) |
Year Ended 10/31/2018 | $11.90 | 0.34 | (0.44) | (0.10) | (0.34) | (0.01) | (0.35) |
Year Ended 10/31/2017 | $12.08 | 0.35 | (0.18) | 0.17 | (0.35) | (0.00)(c) | (0.35) |
Class C | |||||||
Year Ended 10/31/2021 | $12.00 | 0.18 | 0.10 | 0.28 | (0.18) | (0.00)(c) | (0.18) |
Year Ended 10/31/2020 | $12.07 | 0.20 | (0.07) | 0.13 | (0.20) | (0.00)(c) | (0.20) |
Year Ended 10/31/2019 | $11.46 | 0.24 | 0.61 | 0.85 | (0.24) | — | (0.24) |
Year Ended 10/31/2018 | $11.91 | 0.26 | (0.44) | (0.18) | (0.26) | (0.01) | (0.27) |
Year Ended 10/31/2017 | $12.09 | 0.27 | (0.18) | 0.09 | (0.27) | (0.00)(c) | (0.27) |
Institutional Class | |||||||
Year Ended 10/31/2021 | $11.99 | 0.26 | 0.11 | 0.37 | (0.27) | (0.00)(c) | (0.27) |
Year Ended 10/31/2020 | $12.07 | 0.28 | (0.07) | 0.21 | (0.29) | (0.00)(c) | (0.29) |
Year Ended 10/31/2019 | $11.46 | 0.32 | 0.61 | 0.93 | (0.32) | — | (0.32) |
Year Ended 10/31/2018 | $11.91 | 0.34 | (0.44) | (0.10) | (0.34) | (0.01) | (0.35) |
Year Ended 10/31/2017 | $12.09 | 0.35 | (0.18) | 0.17 | (0.35) | (0.00)(c) | (0.35) |
Institutional 2 Class | |||||||
Year Ended 10/31/2021 | $12.01 | 0.27 | 0.11 | 0.38 | (0.28) | (0.00)(c) | (0.28) |
Year Ended 10/31/2020 | $12.09 | 0.29 | (0.08) | 0.21 | (0.29) | (0.00)(c) | (0.29) |
Year Ended 10/31/2019 | $11.48 | 0.33 | 0.61 | 0.94 | (0.33) | — | (0.33) |
Year Ended 10/31/2018 | $11.93 | 0.35 | (0.44) | (0.09) | (0.35) | (0.01) | (0.36) |
Year Ended 10/31/2017 | $12.11 | 0.36 | (0.18) | 0.18 | (0.36) | (0.00)(c) | (0.36) |
22 | Columbia New York Intermediate Municipal Bond Fund | Annual Report 2021 |
Net asset value, end of period | Total return | Total gross expense ratio to average net assets(a) | Total net expense ratio to average net assets(a),(b) | Net investment income ratio to average net assets | Portfolio turnover | Net assets, end of period (000’s) | |
Class A | |||||||
Year Ended 10/31/2021 | $12.09 | 2.84% | 0.90% | 0.75%(d) | 1.89% | 3% | $20,315 |
Year Ended 10/31/2020 | $11.99 | 1.47% | 0.89% | 0.75%(d) | 2.10% | 7% | $22,051 |
Year Ended 10/31/2019 | $12.07 | 7.96% | 0.90% | 0.75%(d) | 2.46% | 19% | $19,270 |
Year Ended 10/31/2018 | $11.46 | (1.11%) | 0.89% | 0.75%(d) | 2.68% | 15% | $13,368 |
Year Ended 10/31/2017 | $11.91 | 1.24% | 0.91%(e) | 0.74%(d),(e) | 2.70% | 9% | $15,639 |
Advisor Class | |||||||
Year Ended 10/31/2021 | $12.08 | 3.09% | 0.65% | 0.50%(d) | 2.14% | 3% | $6,109 |
Year Ended 10/31/2020 | $11.98 | 1.72% | 0.65% | 0.50%(d) | 2.34% | 7% | $4,155 |
Year Ended 10/31/2019 | $12.06 | 8.23% | 0.65% | 0.50%(d) | 2.71% | 19% | $1,234 |
Year Ended 10/31/2018 | $11.45 | (0.87%) | 0.64% | 0.50%(d) | 2.91% | 15% | $745 |
Year Ended 10/31/2017 | $11.90 | 1.49% | 0.66%(e) | 0.49%(d),(e) | 2.96% | 9% | $1,296 |
Class C | |||||||
Year Ended 10/31/2021 | $12.10 | 2.37% | 1.65% | 1.20%(d) | 1.45% | 3% | $4,062 |
Year Ended 10/31/2020 | $12.00 | 1.09% | 1.64% | 1.20%(d) | 1.66% | 7% | $6,319 |
Year Ended 10/31/2019 | $12.07 | 7.47% | 1.65% | 1.20%(d) | 2.05% | 19% | $9,996 |
Year Ended 10/31/2018 | $11.46 | (1.56%) | 1.64% | 1.20%(d) | 2.23% | 15% | $12,491 |
Year Ended 10/31/2017 | $11.91 | 0.78% | 1.66%(e) | 1.19%(d),(e) | 2.25% | 9% | $17,015 |
Institutional Class | |||||||
Year Ended 10/31/2021 | $12.09 | 3.09% | 0.65% | 0.50%(d) | 2.14% | 3% | $173,347 |
Year Ended 10/31/2020 | $11.99 | 1.72% | 0.64% | 0.50%(d) | 2.36% | 7% | $188,611 |
Year Ended 10/31/2019 | $12.07 | 8.23% | 0.65% | 0.50%(d) | 2.72% | 19% | $191,680 |
Year Ended 10/31/2018 | $11.46 | (0.87%) | 0.64% | 0.50%(d) | 2.93% | 15% | $169,671 |
Year Ended 10/31/2017 | $11.91 | 1.49% | 0.66%(e) | 0.49%(d),(e) | 2.95% | 9% | $197,180 |
Institutional 2 Class | |||||||
Year Ended 10/31/2021 | $12.11 | 3.16% | 0.58% | 0.43% | 2.21% | 3% | $4,284 |
Year Ended 10/31/2020 | $12.01 | 1.79% | 0.57% | 0.43% | 2.43% | 7% | $3,489 |
Year Ended 10/31/2019 | $12.09 | 8.29% | 0.58% | 0.43% | 2.77% | 19% | $3,916 |
Year Ended 10/31/2018 | $11.48 | (0.77%) | 0.58% | 0.44% | 3.03% | 15% | $1,472 |
Year Ended 10/31/2017 | $11.93 | 1.56% | 0.58%(e) | 0.42%(e) | 3.02% | 9% | $215 |
Columbia New York Intermediate Municipal Bond Fund | Annual Report 2021 | 23 |
Net asset value, beginning of period | Net investment income | Net realized and unrealized gain (loss) | Total from investment operations | Distributions from net investment income | Distributions from net realized gains | Total distributions to shareholders | |
Institutional 3 Class | |||||||
Year Ended 10/31/2021 | $12.03 | 0.28 | 0.12 | 0.40 | (0.29) | (0.00)(c) | (0.29) |
Year Ended 10/31/2020 | $12.12 | 0.29 | (0.08) | 0.21 | (0.30) | (0.00)(c) | (0.30) |
Year Ended 10/31/2019 | $11.50 | 0.33 | 0.63 | 0.96 | (0.34) | — | (0.34) |
Year Ended 10/31/2018 | $11.95 | 0.36 | (0.45) | (0.09) | (0.35) | (0.01) | (0.36) |
Year Ended 10/31/2017(f) | $11.81 | 0.24 | 0.14(g) | 0.38 | (0.24) | — | (0.24) |
Class V | |||||||
Year Ended 10/31/2021 | $11.99 | 0.24 | 0.11 | 0.35 | (0.25) | (0.00)(c) | (0.25) |
Year Ended 10/31/2020 | $12.07 | 0.26 | (0.07) | 0.19 | (0.27) | (0.00)(c) | (0.27) |
Year Ended 10/31/2019 | $11.46 | 0.31 | 0.61 | 0.92 | (0.31) | — | (0.31) |
Year Ended 10/31/2018 | $11.91 | 0.33 | (0.45) | (0.12) | (0.32) | (0.01) | (0.33) |
Year Ended 10/31/2017 | $12.09 | 0.33 | (0.17) | 0.16 | (0.34) | (0.00)(c) | (0.34) |
Notes to Financial Highlights | |
(a) | 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. |
(b) | Total net expenses include the impact of certain fee waivers/expense reimbursements made by the Investment Manager and certain of its affiliates, if applicable. |
(c) | Rounds to zero. |
(d) | The benefits derived from expense reductions had an impact of less than 0.01%. |
(e) | Expenses have been reduced due to a reimbursement of expenses overbilled by a third party. If the reimbursement had been excluded, the expense ratios would have been higher by the percentages shown for each class in the table below. All fee waivers and expense reimbursements by the Investment Manager and its affiliates were applied before giving effect to this third party reimbursement. |
Year Ended | Class A | Advisor Class | Class C | Institutional Class | Institutional 2 Class | Class V |
10/31/2017 | 0.01% | 0.01% | 0.01% | 0.01% | 0.01% | 0.01% |
(f) | Institutional 3 Class shares commenced operations on March 1, 2017. Per share data and total return reflect activity from that date. |
(g) | 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. |
(h) | Annualized. |
24 | Columbia New York Intermediate Municipal Bond Fund | Annual Report 2021 |
Net asset value, end of period | Total return | Total gross expense ratio to average net assets(a) | Total net expense ratio to average net assets(a),(b) | Net investment income ratio to average net assets | Portfolio turnover | Net assets, end of period (000’s) | |
Institutional 3 Class | |||||||
Year Ended 10/31/2021 | $12.14 | 3.29% | 0.53% | 0.38% | 2.26% | 3% | $1,259 |
Year Ended 10/31/2020 | $12.03 | 1.75% | 0.53% | 0.39% | 2.45% | 7% | $1,065 |
Year Ended 10/31/2019 | $12.12 | 8.41% | 0.54% | 0.39% | 2.80% | 19% | $678 |
Year Ended 10/31/2018 | $11.50 | (0.73%) | 0.54% | 0.38% | 3.05% | 15% | $190 |
Year Ended 10/31/2017(f) | $11.95 | 3.24% | 0.52%(h) | 0.39%(h) | 3.06%(h) | 9% | $335 |
Class V | |||||||
Year Ended 10/31/2021 | $12.09 | 2.94% | 0.80% | 0.65%(d) | 1.99% | 3% | $5,083 |
Year Ended 10/31/2020 | $11.99 | 1.57% | 0.79% | 0.65%(d) | 2.21% | 7% | $5,454 |
Year Ended 10/31/2019 | $12.07 | 8.07% | 0.80% | 0.65%(d) | 2.59% | 19% | $5,696 |
Year Ended 10/31/2018 | $11.46 | (1.01%) | 0.79% | 0.65%(d) | 2.78% | 15% | $6,077 |
Year Ended 10/31/2017 | $11.91 | 1.33% | 0.81%(e) | 0.64%(d),(e) | 2.80% | 9% | $6,533 |
Columbia New York Intermediate Municipal Bond Fund | Annual Report 2021 | 25 |
October 31, 2021
26 | Columbia New York Intermediate Municipal Bond Fund | Annual Report 2021 |
October 31, 2021
Columbia New York Intermediate Municipal Bond Fund | Annual Report 2021 | 27 |
October 31, 2021
28 | Columbia New York Intermediate Municipal Bond Fund | Annual Report 2021 |
October 31, 2021
Effective rate (%) | |
Class A | 0.13 |
Advisor Class | 0.13 |
Class C | 0.13 |
Institutional Class | 0.13 |
Institutional 2 Class | 0.06 |
Institutional 3 Class | 0.01 |
Class V | 0.13 |
Front End (%) | CDSC (%) | Amount ($) | |
Class A | 3.00 | 0.75(a) | 473 |
Class C | — | 1.00(b) | 7 |
Class V | 4.75 | 0.50 - 1.00(c) | 502 |
Columbia New York Intermediate Municipal Bond Fund | Annual Report 2021 | 29 |
October 31, 2021
(a) | This charge is imposed on certain investments of $500,000 or more if redeemed within 12 months after purchase. |
(b) | This charge applies to redemptions within 12 months after purchase, with certain limited exceptions. |
(c) | This charge is imposed on certain investments of between $1 million and $50 million redeemed within 18 months after purchase, as follows: 1.00% if redeemed within 12 months after purchase, and 0.50% if redeemed more than 12, but less than 18, months after purchase, with certain limited exceptions. |
Fee rate(s) contractual through February 28, 2022 | |
Class A | 0.75% |
Advisor Class | 0.50 |
Class C | 1.50 |
Institutional Class | 0.50 |
Institutional 2 Class | 0.43 |
Institutional 3 Class | 0.39 |
Class V | 0.65 |
30 | Columbia New York Intermediate Municipal Bond Fund | Annual Report 2021 |
October 31, 2021
Year Ended October 31, 2021 | Year Ended October 31, 2020 | ||||||
Ordinary income ($) | Tax-exempt income ($) | Long-term capital gains ($) | Total ($) | Ordinary income ($) | Tax-exempt income ($) | Long-term capital gains ($) | Total ($) |
3 | 4,794,423 | 56,812 | 4,851,238 | 141 | 5,330,458 | 37,197 | 5,367,796 |
Undistributed ordinary income ($) | Undistributed tax- exempt income ($) | Undistributed long-term capital gains ($) | Capital loss carryforwards ($) | Net unrealized appreciation ($) |
— | 525,885 | 408,456 | — | 12,509,622 |
Federal tax cost ($) | Gross unrealized appreciation ($) | Gross unrealized (depreciation) ($) | Net unrealized appreciation ($) |
200,476,970 | 12,580,988 | (71,366) | 12,509,622 |
Columbia New York Intermediate Municipal Bond Fund | Annual Report 2021 | 31 |
October 31, 2021
32 | Columbia New York Intermediate Municipal Bond Fund | Annual Report 2021 |
October 31, 2021
Columbia New York Intermediate Municipal Bond Fund | Annual Report 2021 | 33 |
October 31, 2021
34 | Columbia New York Intermediate Municipal Bond Fund | Annual Report 2021 |
Columbia New York Intermediate Municipal Bond Fund | Annual Report 2021 | 35 |
Capital gain dividend | Exempt- interest dividends |
$432,024 | 99.99% |
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex* overseen | Other directorships held by Trustee during the past five years |
George S. Batejan c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1953 | Trustee since 2017 | Executive Vice President, Global Head of Technology and Operations, Janus Capital Group, Inc., 2010-2016 | 171 | Former Chairman of the Board, NICSA (National Investment Company Services Association) (Executive Committee, Nominating Committee and Governance Committee), 2014-2016; former Director, Intech Investment Management, 2011-2016; former Board Member, Metro Denver Chamber of Commerce, 2015-2016; former Advisory Board Member, University of Colorado Business School, 2015-2018 |
36 | Columbia New York Intermediate Municipal Bond Fund | Annual Report 2021 |
Independent trustees (continued)
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex* overseen | Other directorships held by Trustee during the past five years |
Kathleen Blatz c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1954 | Trustee since 2006 | Attorney; specializing in arbitration and mediation; Chief Justice, Minnesota Supreme Court, 1998-2006; Associate Justice, Minnesota Supreme Court, 1996-1998; Fourth Judicial District Court Judge, Hennepin County, 1994-1996; Attorney in private practice and public service, 1984-1993; State Representative, Minnesota House of Representatives, 1979-1993, which included service on the Tax and Financial Institutions and Insurance Committees; Member and Interim Chair, Minnesota Sports Facilities Authority, January 2017-July 2017; Interim President and Chief Executive Officer, Blue Cross and Blue Shield of Minnesota (health care insurance), February-July 2018 | 171 | Trustee, BlueCross BlueShield of Minnesota since 2009 (Chair of the Business Development Committee - 2014-2017; Chair of the Governance Committee, 2017-2019); former Member and Chair of the Board, Minnesota Sports Facilities Authority, January 2017-July 2017; Director, Robina Foundation, 2009-2020 (Chair, 2014-2020) |
Pamela G. Carlton c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1954 | Trustee since 2007 | President, Springboard — Partners in Cross Cultural Leadership (consulting company) since 2003; Managing Director of US Equity Research, JP Morgan Chase, 1999-2003; Director of US Equity Research, Chase Asset Management, 1996-1999; Co-Director Latin America Research, 1993-1996, COO Global Research, 1992-1996, Co-Director of US Research, 1991-1992, Investment Banker, Morgan Stanley, 1982-1991; Attorney, Cleary Gottlieb Steen & Hamilton LLP, 1980-1982 | 171 | Trustee, New York Presbyterian Hospital Board (Executive Committee and Chair of People Committee) since 1996; Director, DR Bank (Audit Committee) since 2017; Director, Evercore Inc. (Audit Committee, Nominating and Governance Committee) since 2019 |
Janet Langford Carrig c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1957 | Trustee since 1996 | Senior Vice President, General Counsel and Corporate Secretary, ConocoPhillips (independent energy company), September 2007-October 2018 | 169 | Director, EQT Corporation (natural gas producer) since 2019; Director, Whiting Petroleum Corporation (independent oil and gas company) since 2020 |
J. Kevin Connaughton c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1964 | Trustee since 2020(a) | Member, FINRA National Adjudicatory Council since January 2020; Adjunct Professor of Finance, Bentley University since January 2018; Managing Director and General Manager of Mutual Fund Products, Columbia Management Investment Advisers, LLC, May 2010-February 2015; President, Columbia Funds, 2008-2015; and senior officer of Columbia Funds and affiliated funds, 2003-2015 | 169 | Director, The Autism Project, since March 2015; former Member of the Investment Committee, St. Michael’s College, November 2015-February 2020; former Trustee, St. Michael’s College, June 2017-September 2019; former Trustee, New Century Portfolios, January 2015-December 2017 |
Olive M. Darragh c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1962 | Trustee since 2020(a) | Managing Director of Darragh Inc. (strategy and talent management consulting firm) since 2010; Founder and CEO, Zolio, Inc. (investment management talent identification platform) since 2004; Partner, Tudor Investments, 2004-2010; Senior Partner, McKinsey & Company (consulting), 2001-2004 | 169 | Former Director, University of Edinburgh Business School (Member of US Board); former Director, Boston Public Library Foundation |
Columbia New York Intermediate Municipal Bond Fund | Annual Report 2021 | 37 |
Independent trustees (continued)
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex* overseen | Other directorships held by Trustee during the past five years |
Patricia M. Flynn c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1950 | Trustee since 2004 | Trustee Professor of Economics and Management, Bentley University since 1976 (also teaches and conducts research on corporate governance); Dean, McCallum Graduate School of Business, Bentley University, 1992-2002 | 171 | Trustee, MA Taxpayers Foundation since 1997; Board of Governors, Innovation Institute, MA Technology Collaborative, 2010-2019; Board of Directors, The MA Business Roundtable, 2003-2019 |
Brian J. Gallagher c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1954 | Trustee since 2017 | Retired; Partner with Deloitte & Touche LLP and its predecessors, 1977-2016 | 171 | Trustee, Catholic Schools Foundation since 2004 |
Douglas A. Hacker c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1955 | Co-Chair since 2021; Chair of CFST I and CFVIT since 2014; Trustee of CFST I and CFVIT since 1996 and CFST, CFST II, CFVST II, CET I and CET II since 2021 | Independent business executive since May 2006; Executive Vice President – Strategy of United Airlines, December 2002 - May 2006; President of UAL Loyalty Services (airline marketing company), September 2001-December 2002; Executive Vice President and Chief Financial Officer of United Airlines, July 1999-September 2001 | 169 | Director, Spartan Nash Company (food distributor); Director, Aircastle Limited (Chair of Audit Committee) (aircraft leasing); former Director, Nash Finch Company (food distributor), 2005-2013; former Director, SeaCube Container Leasing Ltd. (container leasing), 2010-2013; and former Director, Travelport Worldwide Limited (travel information technology), 2014-2019 |
Nancy T. Lukitsh c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1956 | Trustee since 2011 | Senior Vice President, Partner and Director of Marketing, Wellington Management Company, LLP (investment adviser), 1997-2010; Chair, Wellington Management Portfolios (commingled non-U.S. investment pools), 2007 -2010; Director, Wellington Trust Company, NA and other Wellington affiliates, 1997-2010 | 169 | None |
David M. Moffett c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1952 | Trustee since 2011 | Retired; Consultant to Bridgewater and Associates | 169 | Director, CSX Corporation (transportation suppliers); Director, Genworth Financial, Inc. (financial and insurance products and services); Director, PayPal Holdings Inc. (payment and data processing services); Trustee, University of Oklahoma Foundation; former Director, eBay Inc. (online trading community), 2007-2015; and former Director, CIT Bank, CIT Group Inc. (commercial and consumer finance), 2010-2016 |
38 | Columbia New York Intermediate Municipal Bond Fund | Annual Report 2021 |
Independent trustees (continued)
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex* overseen | Other directorships held by Trustee during the past five years |
Catherine James Paglia c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1952 | Co-Chair since 2021; Chair of CFST, CFST II, CFVST II, CET I and CET II since 2020; Trustee of CFST, CFST II and CFVST II since 2004 and CFST I and CFVIT since 2021 | Director, Enterprise Asset Management, Inc. (private real estate and asset management company) since September 1998; Managing Director and Partner, Interlaken Capital, Inc., 1989-1997; Vice President, 1982-1985, Principal, 1985-1987, Managing Director, 1987-1989, Morgan Stanley; Vice President, Investment Banking, 1980-1982, Associate, Investment Banking, Dean Witter Reynolds, Inc., 1976-1980 | 171 | Director, Valmont Industries, Inc. (irrigation systems manufacturer) since 2012; Trustee, Carleton College (on the Investment Committee); Trustee, Carnegie Endowment for International Peace (on the Investment Committee) |
Anthony M. Santomero c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1946 | Trustee since 2008 | Richard K. Mellon Professor Emeritus of Finance, The Wharton School, University of Pennsylvania, since 2002; Senior Advisor, McKinsey & Company (consulting), 2006-2008; President, Federal Reserve Bank of Philadelphia, 2000-2006; Professor of Finance, The Wharton School, University of Pennsylvania, 1972-2002 | 171 | Trustee, Penn Mutual Life Insurance Company since March 2008; Director, RenaissanceRe Holdings Ltd. since May 2008; former Director, Citigroup Inc. and Citibank, N.A., 2009-2019; former Trustee, BofA Funds Series Trust (11 funds), 2008-2011 |
Minor M. Shaw c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1947 | Trustee since 2003 | President, Micco LLC (private investments) since 2011; President, Micco Corp. (family investment business), 1998-2011 | 171 | Director, BlueCross BlueShield of South Carolina (Chair of Compensation Committee) since April 2008; Trustee, Hollingsworth Funds (on the Investment Committee) since 2016 (previously Board Chair from 2016-2019); Former Advisory Board member, Duke Energy Corp., 2016-2020; Chair of the Duke Endowment; Chair of Greenville – Spartanburg Airport Commission; former Trustee, BofA Funds Series Trust (11 funds), 2003-2011; former Director, Piedmont Natural Gas, 2004-2016; former Director, National Association of Corporate Directors, Carolinas Chapter, 2013-2018; Chair, Daniel-Mickel Foundation |
Columbia New York Intermediate Municipal Bond Fund | Annual Report 2021 | 39 |
Independent trustees (continued)
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex* overseen | Other directorships held by Trustee during the past five years |
Natalie A. Trunow c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1967 | Trustee since 2020(a) | Chief Executive Officer, Millennial Portfolio Solutions LLC (asset management and consulting services) since January 2016; Non-executive Member of the Investment Committee, Sarona Asset Management Inc. (private equity firm) since September 2019; Advisor, Horizon Investments (asset management and consulting services) since August 2018; Advisor, Paradigm Asset Management since November 2016; Director of Investments, Casey Family Programs, April 2016-September 2016; Senior Vice President and Chief Investment Officer, Calvert Investments, August 2008 - January 2016; Section Head and Portfolio Manager, General Motors Asset Management, June 1997-August 2008 | 169 | Director, Health Services for Children with Special Needs, Inc.; Director, Consumer Credit Counseling Services (formerly Guidewell Financial Solutions); Independent Director, Investment Committee, Sarona Asset Management |
Sandra Yeager c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1964 | Trustee since 2017 | Retired; President and founder, Hanoverian Capital, LLC (SEC registered investment advisor firm), 2008-2016; Managing Director, DuPont Capital, 2006-2008; Managing Director, Morgan Stanley Investment Management, 2004-2006; Senior Vice President, Alliance Bernstein, 1990-2004 | 171 | Director, NAPE Education Foundation, October 2016-October 2020 |
* | The term “Columbia Funds Complex” as used herein includes Columbia Seligman Premium Technology Growth Fund, Tri-Continental Corporation and each series of Columbia Fund Series Trust (CFST), Columbia Funds Series Trust I (CFST I), Columbia Funds Series Trust II (CFST II), Columbia ETF Trust I (CET I), Columbia ETF Trust II (CET II), Columbia Funds Variable Insurance Trust (CFVIT) and Columbia Funds Variable Series Trust II (CFVST II). Messrs. Batejan, Beckman, Gallagher and Santomero and Mses. Blatz, Carlton, Flynn, Paglia, Shaw and Yeager serve as a director of Columbia Seligman Premium Technology Growth Fund and Tri-Continental Corporation. |
(a) | J. Kevin Connaughton was appointed a consultant to the Independent Trustees of CFST I and CFVIT effective March 1, 2016. Natalie A. Trunow was appointed a consultant to the Independent Trustees of CFST I and CFVIT effective September 1, 2016. Olive M. Darragh was appointed a consultant to the Independent Trustees of CFST I and CFVIT effective June 10, 2019. Shareholders of the Funds elected Mr. Connaughton and Mses. Darragh and Trunow as Trustees of CFST, CFST I, CFST II, CET I, CET II, and CFVST II, effective January 1, 2021, and of CFVIT, effective July 1, 2020. |
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during the past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex overseen | Other directorships held by Trustee during the past five years |
Daniel J. Beckman c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1962 | Trustee since November 2021(a) | Vice President – Head of North America Product, Columbia Management Investment Advisers, LLC (since April 2015); officer of Columbia Funds and affiliated funds since 2020. | 171 | Director, Ameriprise Trust Company, since October 2016; Director, Columbia Management Investment Distributors, Inc. since November 2018 |
* | 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. |
(a) | Mr. Beckman serves as the President and Principal Executive Officer of the Columbia Funds (since 2021). |
40 | Columbia New York Intermediate Municipal Bond Fund | Annual Report 2021 |
The Board has appointed officers who are responsible for day-to-day business decisions based on policies it has established. The officers serve at the pleasure of the Board. The following table provides basic information about the Officers of the Fund as of the printing of this report, including principal occupations during the past five years, although their specific titles may have varied over the period. In addition to Mr. Beckman, who is the President and Principal Executive Officer, the Fund’s other officers are:
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 |
Michael G. Clarke 290 Congress Street Boston, MA 02210 1969 | Chief Financial Officer and Principal Financial Officer (2009) and Senior Vice President (2019) | Vice President, Head of North American Operations, and Co-Head of Global Operations, Columbia Management Investment Advisers, LLC, since June 2019 (previously Vice President – Accounting and Tax, May 2010 – May 2019); senior officer of Columbia Funds and affiliated funds since 2002. |
Joseph Beranek 5890 Ameriprise Financial Center Minneapolis, MN 55474 1965 | Treasurer and Chief Accounting Officer (Principal Accounting Officer) (2019) and Principal Financial Officer (2020), CFST, CFST I, CFST II, CFVIT and CFVST II; Assistant Treasurer, CET I and CET II | Vice President – Mutual Fund Accounting and Financial Reporting, Columbia Management Investment Advisers, LLC, since December 2018 and March 2017, respectively (previously Vice President – Pricing and Corporate Actions, May 2010 - March 2017). |
Marybeth Pilat 290 Congress Street Boston, MA 02210 1968 | Treasurer and Chief Accounting Officer (Principal Accounting Officer) and Principal Financial Officer (2020) for CET I and CET II; Assistant Treasurer, CFST, CFST I, CFST II, CFVIT and CFVST II | Vice President – Product Pricing and Administration, Columbia Management Investment Advisers, LLC, since May 2017; Director - Fund Administration, Calvert Investments, August 2015 – March 2017; Vice President - Fund Administration, Legg Mason, May 2015 - July 2015; Vice President - Fund Administration, Columbia Management Investment Advisers, LLC, May 2010 - April 2015. |
William F. Truscott 290 Congress Street Boston, MA 02210 1960 | Senior Vice President (2001) | Formerly, Trustee of Columbia Funds Complex until January 1, 2021; Chief Executive Officer, Global Asset Management, Ameriprise Financial, Inc. since September 2012; Chairman of the Board and President, Columbia Management Investment Advisers, LLC since July 2004 and February 2012, respectively; Chairman of the Board and Chief Executive Officer, Columbia Management Investment Distributors, Inc. since November 2008 and February 2012, respectively; Chairman of the Board and Director, Threadneedle Asset Management Holdings, Sàrl since March 2013 and December 2008, respectively; senior executive of various entities affiliated with Columbia Threadneedle. |
Christopher O. Petersen 5228 Ameriprise Financial Center Minneapolis, MN 55474 1970 | Senior Vice President and Assistant Secretary | Formerly, Trustee of Columbia Funds Complex until November 22, 2021; Senior Vice President and Assistant General Counsel, Ameriprise Financial, Inc. since September 2021 (previously Vice President and Lead Chief Counsel, January 2015 - September 2021); President and Principal Executive Officer of the Columbia Funds 2015 - 2021; officer of Columbia Funds and affiliated funds since 2007. |
Thomas P. McGuire 290 Congress Street Boston, MA 02210 1972 | Senior Vice President and Chief Compliance Officer (2012) | Vice President – Asset Management Compliance, Ameriprise Financial, Inc., since May 2010; Chief Compliance Officer, Columbia Acorn/Wanger Funds since December 2015; Chief Compliance Officer, Ameriprise Certificate Company September 2010 – September 2020. |
Colin Moore 290 Congress Street Boston, MA 02210 1958 | Senior Vice President (2010) | Executive Vice President and Global Chief Investment Officer, Ameriprise Financial, Inc., since July 2013; Executive Vice President and Global Chief Investment Officer, Columbia Management Investment Advisers, LLC since July 2013. |
Ryan C. Larrenaga 290 Congress Street Boston, MA 02210 1970 | Senior Vice President (2017), Chief Legal Officer (2017), and Secretary (2015) | Vice President and Chief Counsel, Ameriprise Financial, Inc. since August 2018 (previously Vice President and Group Counsel, August 2011 - August 2018); Chief Legal Officer, Columbia Acorn/Wanger Funds, since September 2020; officer of Columbia Funds and affiliated funds since 2005. |
Columbia New York Intermediate Municipal Bond Fund | Annual Report 2021 | 41 |
Fund officers (continued)
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 |
Michael E. DeFao 290 Congress Street Boston, MA 02210 1968 | Vice President (2011) and Assistant Secretary (2010) | Vice President and Chief Counsel, Ameriprise Financial, Inc. since May 2010; Vice President, Chief Legal Officer and Assistant Secretary, Columbia Management Investment Advisers, LLC since October 2021 (previously Vice President and Assistant Secretary, May 2010 – September 2021). |
Lyn Kephart-Strong 5228 Ameriprise Financial Center Minneapolis, MN 55474 1960 | Vice President (2015) | President, Columbia Management Investment Services Corp. since October 2014; Vice President & Resolution Officer, Ameriprise Trust Company since August 2009. |
• | Information on the investment performance of the Fund relative to the performance of a group of mutual funds determined to be comparable to the Fund by Broadridge, as well as performance relative to benchmarks; |
• | Information on the Fund’s management fees and total expenses, including information comparing the Fund’s expenses to those of a group of comparable mutual funds, as determined by Broadridge; |
42 | Columbia New York Intermediate Municipal Bond Fund | Annual Report 2021 |
• | The Investment Manager’s agreement to contractually limit or cap total operating expenses for the Fund so that total operating expenses (excluding certain fees and expenses, such as transaction costs and certain other investment related expenses, interest, taxes, acquired fund fees and expenses, and infrequent and/or unusual expenses) would not exceed a specified annual rate, as a percentage of the Fund’s net assets; |
• | Terms of the Management Agreement; |
• | Descriptions of other agreements and arrangements with affiliates of the Investment Manager relating to the operations of the Fund, including agreements with respect to the provision of transfer agency and shareholder services to the Fund; |
• | Descriptions of various services performed by the Investment Manager under the Management Agreement, including portfolio management and portfolio trading practices; |
• | Information regarding any recently negotiated management fees of similarly-managed portfolios of other institutional clients of the Investment Manager; |
• | Information regarding the resources of the Investment Manager, including information regarding senior management, portfolio managers and other personnel; |
• | Information regarding the capabilities of the Investment Manager with respect to compliance monitoring services; |
• | The profitability to the Investment Manager and its affiliates from their relationships with the Fund; and |
• | Report provided by the Board’s independent fee consultant, JDL Consultants, LLC (JDL). |
Columbia New York Intermediate Municipal Bond Fund | Annual Report 2021 | 43 |
Investment performance
44 | Columbia New York Intermediate Municipal Bond Fund | Annual Report 2021 |
Economies of scale
Columbia New York Intermediate Municipal Bond Fund | Annual Report 2021 | 45 |
columbiathreadneedleus.com/investor/. The Fund is distributed by Columbia Management Investment Distributors, Inc., member FINRA, and managed by Columbia Management Investment Advisers, LLC.
October 31, 2021
3 | |
5 | |
8 | |
9 | |
14 | |
16 | |
17 | |
20 | |
24 | |
33 | |
34 | |
34 | |
40 |
Average annual total returns (%) (for the period ended October 31, 2021) | |||||
Inception | 1 Year | 5 Years | 10 Years | ||
Class A | Excluding sales charges | 11/18/02 | 1.39 | 2.26 | 2.50 |
Including sales charges | -1.63 | 1.63 | 2.18 | ||
Advisor Class* | 03/19/13 | 1.74 | 2.54 | 2.76 | |
Class C | Excluding sales charges | 11/18/02 | 0.94 | 1.80 | 2.05 |
Including sales charges | -0.06 | 1.80 | 2.05 | ||
Institutional Class | 08/01/94 | 1.74 | 2.51 | 2.75 | |
Institutional 3 Class* | 03/01/17 | 1.84 | 2.63 | 2.81 | |
Class V | Excluding sales charges | 06/26/00 | 1.59 | 2.36 | 2.60 |
Including sales charges | -3.20 | 1.37 | 2.10 | ||
Bloomberg 3-15 Year Blend Municipal Bond Index | 1.93 | 3.11 | 3.46 |
* | The returns shown for periods prior to the share class inception date (including returns for the Life of the Fund, if shown, which are since Fund inception) include the returns of the Fund’s oldest share class. These returns are adjusted to reflect any higher class-related operating expenses of the newer share classes, as applicable. Please visit columbiathreadneedleus.com/investor/investment-products/mutual-funds/appended-performance for more information. |
Columbia Connecticut Intermediate Municipal Bond Fund | Annual Report 2021 | 3 |
Quality breakdown (%) (at October 31, 2021) | |
AAA rating | 14.5 |
AA rating | 48.6 |
A rating | 30.0 |
BBB rating | 4.6 |
BB rating | 2.3 |
Total | 100.0 |
4 | Columbia Connecticut Intermediate Municipal Bond Fund | Annual Report 2021 |
Columbia Connecticut Intermediate Municipal Bond Fund | Annual Report 2021 | 5 |
• | Fund performance during the period was held back slightly due to an underweight in BBB-rated credits. |
• | Additionally, as compared to the benchmark, the Fund had a larger allocation to pre-refunded bonds which lagged the overall market. |
• | A few selections within the housing sector detracted somewhat due to portions of premium-priced bonds getting called away at par ($100). |
• | Additionally, the Fund’s underweight in transportation detracted from relative results as the sector generally outperformed. |
• | Lastly, there was superior performance in some select non-Connecticut issuers that greatly benefited the national municipal marketplace at the expense of in-state investors. |
• | Duration, as well as yield curve positioning, contributed positively to Fund performance during the period. |
○ | The Fund was generally underweight 3-7 year maturity bonds and overweight 12-15 year maturities, both of which aided performance as the longer end of the yield curve generally outperformed shorter maturity bonds. |
• | Regarding credit quality allocations, an underweight to municipal bonds rated AA and an overweight to municipal bonds rated A added to Fund returns. |
• | With lower quality municipal bonds generally besting higher quality during the period, the Fund’s small exposure to non-investment grade bonds was also additive. |
• | The Fund’s positioning in state general obligation (GO) bonds contributed to results relative to the benchmark. The Fund was generally underweight the benchmark in GOs, which was beneficial, and the individual bonds that the Fund owned in this space outperformed the national cohort. |
• | The Fund benefited from both an overweight allocation to, as well as security selection within, the hospital sector. The hospital sector broadly outperformed while at the same time many of the Fund’s holdings within the sector rallied nicely (e.g., Church Home CCRC, Nuvance Health, McLean CCRC). |
• | Lastly, there were additional situations of individual credit outperformance in local GOs (Bridgeport, Hartford Metropolitan District, Hamden) and the education sector (University of New Haven) that helped propel the Fund’s return during the period. |
6 | Columbia Connecticut Intermediate Municipal Bond Fund | Annual Report 2021 |
Columbia Connecticut Intermediate Municipal Bond Fund | Annual Report 2021 | 7 |
(Unaudited)
May 1, 2021 — October 31, 2021 | |||||||
Account value at the beginning of the period ($) | Account value at the end of the period ($) | Expenses paid during the period ($) | Fund’s annualized expense ratio (%) | ||||
Actual | Hypothetical | Actual | Hypothetical | Actual | Hypothetical | Actual | |
Class A | 1,000.00 | 1,000.00 | 998.20 | 1,020.89 | 4.04 | 4.08 | 0.81 |
Advisor Class | 1,000.00 | 1,000.00 | 999.40 | 1,022.14 | 2.79 | 2.82 | 0.56 |
Class C | 1,000.00 | 1,000.00 | 995.90 | 1,018.65 | 6.27 | 6.34 | 1.26 |
Institutional Class | 1,000.00 | 1,000.00 | 999.40 | 1,022.14 | 2.79 | 2.82 | 0.56 |
Institutional 3 Class | 1,000.00 | 1,000.00 | 999.90 | 1,022.64 | 2.29 | 2.32 | 0.46 |
Class V | 1,000.00 | 1,000.00 | 998.70 | 1,021.39 | 3.54 | 3.58 | 0.71 |
8 | Columbia Connecticut Intermediate Municipal Bond Fund | Annual Report 2021 |
October 31, 2021
Municipal Bonds 95.9% | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Higher Education 10.5% | ||||
Connecticut State Health & Educational Facilities Authority | ||||
Refunding Revenue Bonds | ||||
Fairfield University | ||||
Series 2017R | ||||
07/01/2034 | 4.000% | 1,000,000 | 1,126,576 | |
Quinnipiac University | ||||
Series 2016M | ||||
07/01/2029 | 5.000% | 1,000,000 | 1,168,326 | |
Sacred Heart University Issue | ||||
Series 2017 | ||||
07/01/2033 | 5.000% | 300,000 | 356,546 | |
Series 2021S | ||||
06/01/2037 | 5.000% | 370,000 | 480,684 | |
Trinity College | ||||
Series 2020R | ||||
06/01/2032 | 5.000% | 265,000 | 339,854 | |
University of New Haven | ||||
Series 2018 | ||||
07/01/2033 | 5.000% | 500,000 | 591,614 | |
07/01/2034 | 5.000% | 500,000 | 590,070 | |
Revenue Bonds | ||||
Sacred Heart University | ||||
Series 2020K | ||||
07/01/2035 | 5.000% | 475,000 | 599,690 | |
07/01/2036 | 5.000% | 150,000 | 188,836 | |
Wesleyan University - Green Bonds | ||||
Series 2021 | ||||
07/01/2031 | 4.000% | 915,000 | 1,133,669 | |
University of Connecticut | ||||
Revenue Bonds | ||||
Series 2018A | ||||
11/15/2035 | 5.000% | 2,700,000 | 3,324,260 | |
Total | 9,900,125 | |||
Hospital 11.6% | ||||
Connecticut State Health & Educational Facilities Authority | ||||
Refunding Revenue Bonds | ||||
Nuvance Health Issue | ||||
Series 2019A | ||||
07/01/2033 | 5.000% | 400,000 | 495,295 | |
Revenue Bonds | ||||
Bridgeport Hospital | ||||
Series 2012D | ||||
07/01/2022 | 5.000% | 1,000,000 | 1,031,772 | |
Hartford Healthcare | ||||
Series 2014E | ||||
07/01/2034 | 5.000% | 2,360,000 | 2,622,806 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Series 2020A | ||||
07/01/2036 | 4.000% | 1,045,000 | 1,210,717 | |
Trinity Health Corp. | ||||
Series 2016 | ||||
12/01/2032 | 5.000% | 2,000,000 | 2,375,972 | |
Yale-New Haven Health | ||||
Series 2014A | ||||
07/01/2031 | 5.000% | 2,500,000 | 2,789,657 | |
Connecticut State Health & Educational Facilities Authority(a) | ||||
Refunding Revenue Bonds | ||||
Stamford Hospital Issue | ||||
Series 2022 | ||||
07/01/2028 | 5.000% | 300,000 | 360,481 | |
Total | 10,886,700 | |||
Local General Obligation 19.8% | ||||
City of Bridgeport | ||||
Unlimited General Obligation Bonds | ||||
Series 2014A (AGM) | ||||
07/01/2031 | 5.000% | 1,350,000 | 1,493,719 | |
Series 2019-A (BAM) | ||||
02/01/2036 | 5.000% | 1,000,000 | 1,229,142 | |
Series 2021A | ||||
08/01/2029 | 5.000% | 175,000 | 220,935 | |
City of Middletown | ||||
Unlimited General Obligation Bonds | ||||
Series 2015 | ||||
04/01/2026 | 5.000% | 1,000,000 | 1,190,965 | |
City of Milford | ||||
Unlimited General Obligation Refunding Bonds | ||||
Series 2017B | ||||
11/01/2030 | 4.000% | 450,000 | 513,571 | |
City of New Haven | ||||
Unlimited General Obligation Bonds | ||||
Series 2015 (AGM) | ||||
09/01/2027 | 5.000% | 1,200,000 | 1,385,041 | |
Unlimited General Obligation Refunding Bonds | ||||
Series 2015B (BAM) | ||||
08/15/2027 | 5.000% | 750,000 | 864,542 | |
Series 2019B AGM | ||||
02/01/2030 | 5.000% | 450,000 | 574,731 | |
City of Norwalk | ||||
Unlimited General Obligation Refunding Bonds | ||||
Series 2017B | ||||
07/01/2026 | 4.000% | 750,000 | 842,209 |
Columbia Connecticut Intermediate Municipal Bond Fund | Annual Report 2021 | 9 |
October 31, 2021
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
City of Waterbury | ||||
Unlimited General Obligation Bonds | ||||
Lot A | ||||
Series 2015 (BAM) | ||||
08/01/2031 | 5.000% | 500,000 | 575,520 | |
08/01/2032 | 5.000% | 500,000 | 575,121 | |
Series 2020A | ||||
02/01/2030 | 5.000% | 500,000 | 643,078 | |
Metropolitan District (The) | ||||
Unlimited General Obligation Bonds | ||||
Series 2018 | ||||
07/15/2034 | 5.000% | 500,000 | 615,084 | |
Series 2019A | ||||
07/15/2033 | 5.000% | 2,500,000 | 3,151,735 | |
Town of Guilford | ||||
Unlimited General Obligation Refunding Bonds | ||||
Series 2016A | ||||
08/15/2029 | 4.000% | 450,000 | 513,702 | |
Town of Hamden | ||||
Unlimited General Obligation Refunding Bonds | ||||
Series 2018A (BAM) | ||||
08/15/2030 | 5.000% | 1,000,000 | 1,223,718 | |
Town of North Haven | ||||
Unlimited General Obligation Bonds | ||||
Series 2007 | ||||
07/15/2024 | 4.750% | 1,150,000 | 1,286,912 | |
07/15/2025 | 4.750% | 1,150,000 | 1,330,678 | |
Town of Trumbull | ||||
Unlimited General Obligation Refunding Bonds | ||||
Series 2017B | ||||
09/01/2030 | 4.000% | 350,000 | 399,001 | |
Total | 18,629,404 | |||
Pool / Bond Bank 2.6% | ||||
State of Connecticut Clean Water Fund - State Revolving Fund | ||||
Revenue Bonds | ||||
Green Bonds | ||||
Series 2017A | ||||
05/01/2034 | 5.000% | 1,500,000 | 1,809,177 | |
Series 2019A | ||||
02/01/2035 | 4.000% | 565,000 | 668,148 | |
Total | 2,477,325 | |||
Prep School 4.3% | ||||
Connecticut State Health & Educational Facilities Authority | ||||
Refunding Revenue Bonds | ||||
Choate Rosemary Hall Issue | ||||
Series 2020 | ||||
07/01/2037 | 4.000% | 300,000 | 355,100 | |
07/01/2038 | 4.000% | 310,000 | 366,140 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Taft School Issue | ||||
Series 2018K | ||||
07/01/2035 | 4.000% | 1,115,000 | 1,285,411 | |
Revenue Bonds | ||||
Loomis Chaffe School | ||||
Series 2005F (AMBAC) | ||||
07/01/2027 | 5.250% | 1,670,000 | 2,054,342 | |
Total | 4,060,993 | |||
Refunded / Escrowed 9.2% | ||||
City of New Britain | ||||
Prerefunded 09/01/28 Unlimited General Obligation Bonds | ||||
Series 2018B (AGM) | ||||
09/01/2036 | 5.250% | 720,000 | 917,870 | |
Unlimited General Obligation Refunding Bonds | ||||
Series 2016A Escrowed to Maturity (BAM) | ||||
03/01/2025 | 5.000% | 10,000 | 11,476 | |
Connecticut Municipal Electric Energy Cooperative | ||||
Prerefunded 01/01/22 Revenue Bonds | ||||
Series 2012A | ||||
01/01/2027 | 5.000% | 1,000,000 | 1,007,852 | |
Connecticut State Health & Educational Facilities Authority | ||||
Revenue Bonds | ||||
Greenwich Academy | ||||
Series 2007E Escrowed to Maturity (AGM) | ||||
03/01/2026 | 5.250% | 2,370,000 | 2,635,407 | |
Greater New Haven Water Pollution Control Authority | ||||
Prerefunded 08/15/24 Revenue Bonds | ||||
Series 2014B | ||||
08/15/2031 | 5.000% | 1,000,000 | 1,129,216 | |
Puerto Rico Highway & Transportation Authority(b) | ||||
Refunding Revenue Bonds | ||||
Series 2005BB Escrowed to Maturity (AGM) | ||||
07/01/2022 | 5.250% | 895,000 | 924,345 | |
South Central Connecticut Regional Water Authority | ||||
Prerefunded 08/01/22 Revenue Bonds | ||||
27th Series 2012 | ||||
08/01/2029 | 5.000% | 1,945,000 | 2,014,946 | |
Total | 8,641,112 | |||
Retirement Communities 3.2% | ||||
Connecticut State Health & Educational Facilities Authority(c) | ||||
Revenue Bonds | ||||
Church Home of Hartford, Inc. | ||||
Series 2016 | ||||
09/01/2046 | 5.000% | 1,000,000 | 1,098,716 | |
McLean Issue | ||||
Series 2020A | ||||
01/01/2030 | 5.000% | 425,000 | 480,395 |
10 | Columbia Connecticut Intermediate Municipal Bond Fund | Annual Report 2021 |
October 31, 2021
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
McLean Issue - TEMPS-50 | ||||
Series 2020B-2 | ||||
01/01/2026 | 2.750% | 500,000 | 503,445 | |
Connecticut State Health & Educational Facilities Authority | ||||
Revenue Bonds | ||||
Covenant Home, Inc. | ||||
Series 2018 | ||||
12/01/2031 | 5.000% | 750,000 | 887,616 | |
Total | 2,970,172 | |||
Single Family 9.1% | ||||
Connecticut Housing Finance Authority(d) | ||||
Refunding Revenue Bonds | ||||
Home Mortgage | ||||
Series 2019D-2 | ||||
05/15/2033 | 3.000% | 880,000 | 925,002 | |
Series 2020A-2 | ||||
11/15/2030 | 2.150% | 1,000,000 | 1,009,738 | |
05/15/2031 | 2.200% | 1,000,000 | 1,016,975 | |
Series 2020C | ||||
05/15/2027 | 5.000% | 790,000 | 935,755 | |
11/15/2028 | 5.000% | 575,000 | 693,753 | |
Connecticut Housing Finance Authority | ||||
Refunding Revenue Bonds | ||||
Series 2019B1 | ||||
11/15/2033 | 3.000% | 1,000,000 | 1,058,249 | |
Social Bonds | ||||
Series 2021D-1 | ||||
05/15/2029 | 5.000% | 700,000 | 881,591 | |
Subordinated Series 2017D-1 | ||||
11/15/2032 | 3.200% | 775,000 | 818,272 | |
Subordinated Series 2018C-1 | ||||
11/15/2038 | 3.625% | 1,145,000 | 1,238,160 | |
Total | 8,577,495 | |||
Special Non Property Tax 7.1% | ||||
State of Connecticut | ||||
Refunding Revenue Bonds | ||||
Series 2021C | ||||
01/01/2032 | 5.000% | 1,000,000 | 1,341,396 | |
Revenue Bonds | ||||
Special Tax Obligation Bonds | ||||
Series 2020A | ||||
05/01/2037 | 5.000% | 1,000,000 | 1,270,951 | |
State of Connecticut Special Tax | ||||
Revenue Bonds | ||||
Series 2018B | ||||
10/01/2035 | 5.000% | 1,000,000 | 1,247,683 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Transportation Infrastructure | ||||
Series 2014A | ||||
09/01/2025 | 5.000% | 2,500,000 | 2,824,535 | |
Total | 6,684,565 | |||
State Appropriated 4.5% | ||||
Connecticut State Health & Educational Facilities Authority | ||||
Revenue Bonds | ||||
Connecticut State University System | ||||
Series 2019 | ||||
11/01/2032 | 5.000% | 1,000,000 | 1,270,006 | |
University of Connecticut | ||||
Revenue Bonds | ||||
Series 2015A | ||||
02/15/2029 | 5.000% | 1,500,000 | 1,705,569 | |
Series 2020A | ||||
02/15/2037 | 5.000% | 1,000,000 | 1,259,316 | |
Total | 4,234,891 | |||
State General Obligation 5.4% | ||||
State of Connecticut | ||||
Unlimited General Obligation Bonds | ||||
Series 2018A | ||||
04/15/2031 | 5.000% | 1,000,000 | 1,237,914 | |
Series 2018-E | ||||
09/15/2033 | 5.000% | 1,000,000 | 1,246,856 | |
Series 2019A | ||||
04/15/2036 | 5.000% | 1,000,000 | 1,246,393 | |
Series 2020A | ||||
01/15/2030 | 5.000% | 1,000,000 | 1,292,263 | |
Total | 5,023,426 | |||
Water & Sewer 8.6% | ||||
Greater New Haven Water Pollution Control Authority | ||||
Refunding Revenue Bonds | ||||
Series 2016A | ||||
11/15/2029 | 4.000% | 500,000 | 567,031 | |
11/15/2030 | 4.000% | 400,000 | 451,646 | |
11/15/2031 | 4.000% | 100,000 | 112,639 | |
11/15/2032 | 4.000% | 440,000 | 494,801 | |
Hartford County Metropolitan District(a) | ||||
Refunding Revenue Bonds | ||||
Clean Water Project | ||||
Series 2021A | ||||
02/01/2028 | 5.000% | 750,000 | 930,401 | |
Mattabassett District | ||||
Revenue Bonds | ||||
Green Bonds | ||||
Series 2021 (BAM) | ||||
08/01/2029 | 5.000% | 500,000 | 630,824 |
Columbia Connecticut Intermediate Municipal Bond Fund | Annual Report 2021 | 11 |
October 31, 2021
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Metropolitan District (The) | ||||
Revenue Bonds | ||||
Clean Water Project | ||||
Series 2020A | ||||
10/01/2029 | 5.000% | 1,000,000 | 1,281,606 | |
South Central Connecticut Regional Water Authority | ||||
Refunding Revenue Bonds | ||||
20th Series 2007A (NPFGC) | ||||
08/01/2022 | 5.250% | 1,370,000 | 1,421,401 | |
08/01/2023 | 5.250% | 500,000 | 543,406 | |
29th Series 2014 | ||||
08/01/2025 | 5.000% | 500,000 | 539,854 | |
32nd Series 2016B | ||||
08/01/2035 | 4.000% | 1,000,000 | 1,132,461 | |
Total | 8,106,070 | |||
Total Municipal Bonds (Cost $84,944,344) | 90,192,278 |
Money Market Funds 4.5% | ||
Shares | Value ($) | |
Dreyfus Tax Exempt Cash Management Fund, Institutional Shares, 0.010%(e) | 229,732 | 229,709 |
JPMorgan Institutional Tax Free Money Market Fund, Institutional Shares, 0.006%(e) | 4,014,636 | 4,014,636 |
Total Money Market Funds (Cost $4,244,368) | 4,244,345 | |
Total Investments in Securities (Cost: $89,188,712) | 94,436,623 | |
Other Assets & Liabilities, Net | (421,603) | |
Net Assets | 94,015,020 |
(a) | Represents a security purchased on a when-issued basis. |
(b) | Municipal obligations include debt obligations issued by or on behalf of territories, possessions, or sovereign nations within the territorial boundaries of the United States. At October 31, 2021, the total value of these securities amounted to $924,345, which represents 0.98% of total net assets. |
(c) | Represents privately placed and other securities and instruments exempt from Securities and Exchange Commission registration (collectively, private placements), such as Section 4(a)(2) and Rule 144A eligible securities, which are often sold only to qualified institutional buyers. At October 31, 2021, the total value of these securities amounted to $2,082,556, which represents 2.22% of total net assets. |
(d) | Income from this security may be subject to alternative minimum tax. |
(e) | The rate shown is the seven-day current annualized yield at October 31, 2021. |
AGM | Assured Guaranty Municipal Corporation |
AMBAC | Ambac Assurance Corporation |
BAM | Build America Mutual Assurance Co. |
NPFGC | National Public Finance Guarantee Corporation |
■ | Level 1 — Valuations based on quoted prices for investments in active markets that the Fund has the ability to access at the measurement date. Valuation adjustments are not applied to Level 1 investments. |
■ | Level 2 — Valuations based on other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risks, etc.). |
■ | Level 3 — Valuations based on significant unobservable inputs (including the Fund’s own assumptions and judgment in determining the fair value of investments). |
12 | Columbia Connecticut Intermediate Municipal Bond Fund | Annual Report 2021 |
October 31, 2021
Inputs that are used in determining fair value of an investment may include price information, credit data, volatility statistics, and other factors. These inputs can be either observable or unobservable. The availability of observable inputs can vary between investments, and is affected by various factors such as the type of investment, and the volume and level of activity for that investment or similar investments in the marketplace. The inputs will be considered by the Investment Manager, along with any other relevant factors in the calculation of an investment’s fair value. The Fund uses prices and inputs that are current as of the measurement date, which may include periods of market dislocations. During these periods, the availability of prices and inputs may be reduced for many investments. This condition could cause an investment to be reclassified between the various levels within the hierarchy.
Level 1 ($) | Level 2 ($) | Level 3 ($) | Total ($) | |
Investments in Securities | ||||
Municipal Bonds | — | 90,192,278 | — | 90,192,278 |
Money Market Funds | 4,244,345 | — | — | 4,244,345 |
Total Investments in Securities | 4,244,345 | 90,192,278 | — | 94,436,623 |
Columbia Connecticut Intermediate Municipal Bond Fund | Annual Report 2021 | 13 |
October 31, 2021
Assets | |
Investments in securities, at value | |
Unaffiliated issuers (cost $89,188,712) | $94,436,623 |
Receivable for: | |
Capital shares sold | 48,223 |
Interest | 1,026,588 |
Expense reimbursement due from Investment Manager | 271 |
Prepaid expenses | 3,211 |
Trustees’ deferred compensation plan | 91,794 |
Total assets | 95,606,710 |
Liabilities | |
Due to custodian | 1,110 |
Payable for: | |
Investments purchased on a delayed delivery basis | 1,298,277 |
Capital shares purchased | 13,373 |
Distributions to shareholders | 153,091 |
Management services fees | 1,211 |
Distribution and/or service fees | 120 |
Transfer agent fees | 8,544 |
Compensation of board members | 5,734 |
Compensation of chief compliance officer | 2 |
Other expenses | 18,434 |
Trustees’ deferred compensation plan | 91,794 |
Total liabilities | 1,591,690 |
Net assets applicable to outstanding capital stock | $94,015,020 |
Represented by | |
Paid in capital | 88,803,791 |
Total distributable earnings (loss) | 5,211,229 |
Total - representing net assets applicable to outstanding capital stock | $94,015,020 |
14 | Columbia Connecticut Intermediate Municipal Bond Fund | Annual Report 2021 |
October 31, 2021
Class A | |
Net assets | $7,627,146 |
Shares outstanding | 714,508 |
Net asset value per share | $10.67 |
Maximum sales charge | 3.00% |
Maximum offering price per share (calculated by dividing the net asset value per share by 1.0 minus the maximum sales charge for Class A shares) | $11.00 |
Advisor Class | |
Net assets | $1,463,255 |
Shares outstanding | 137,256 |
Net asset value per share | $10.66 |
Class C | |
Net assets | $1,673,977 |
Shares outstanding | 156,818 |
Net asset value per share | $10.67 |
Institutional Class | |
Net assets | $74,625,952 |
Shares outstanding | 6,993,954 |
Net asset value per share | $10.67 |
Institutional 3 Class | |
Net assets | $10,139 |
Shares outstanding | 948 |
Net asset value per share | $10.70 |
Class V | |
Net assets | $8,614,551 |
Shares outstanding | 808,209 |
Net asset value per share | $10.66 |
Maximum sales charge | 4.75% |
Maximum offering price per share (calculated by dividing the net asset value per share by 1.0 minus the maximum sales charge for Class V shares) | $11.19 |
Columbia Connecticut Intermediate Municipal Bond Fund | Annual Report 2021 | 15 |
Year Ended October 31, 2021
Net investment income | |
Income: | |
Dividends — unaffiliated issuers | $478 |
Interest | 2,649,149 |
Total income | 2,649,627 |
Expenses: | |
Management services fees | 452,491 |
Distribution and/or service fees | |
Class A | 19,796 |
Class C | 16,843 |
Class V | 13,360 |
Transfer agent fees | |
Class A | 9,541 |
Advisor Class | 1,458 |
Class C | 2,029 |
Institutional Class | 92,054 |
Institutional 3 Class | 31 |
Class V | 10,732 |
Compensation of board members | 15,043 |
Custodian fees | 1,135 |
Printing and postage fees | 13,578 |
Registration fees | 16,459 |
Audit fees | 29,500 |
Legal fees | 10,340 |
Compensation of chief compliance officer | 25 |
Other | 11,236 |
Total expenses | 715,651 |
Fees waived or expenses reimbursed by Investment Manager and its affiliates | (127,769) |
Fees waived by distributor | |
Class C | (5,054) |
Expense reduction | (20) |
Total net expenses | 582,808 |
Net investment income | 2,066,819 |
Realized and unrealized gain (loss) — net | |
Net realized gain (loss) on: | |
Investments — unaffiliated issuers | 41,894 |
Net realized gain | 41,894 |
Net change in unrealized appreciation (depreciation) on: | |
Investments — unaffiliated issuers | (485,902) |
Net change in unrealized appreciation (depreciation) | (485,902) |
Net realized and unrealized loss | (444,008) |
Net increase in net assets resulting from operations | $1,622,811 |
16 | Columbia Connecticut Intermediate Municipal Bond Fund | Annual Report 2021 |
Year Ended October 31, 2021 | Year Ended October 31, 2020 | |
Operations | ||
Net investment income | $2,066,819 | $2,451,450 |
Net realized gain | 41,894 | 154,608 |
Net change in unrealized appreciation (depreciation) | (485,902) | 186,331 |
Net increase in net assets resulting from operations | 1,622,811 | 2,792,389 |
Distributions to shareholders | ||
Net investment income and net realized gains | ||
Class A | (161,918) | (177,500) |
Advisor Class | (27,595) | (23,246) |
Class C | (26,785) | (33,323) |
Institutional Class | (1,753,952) | (2,005,380) |
Institutional 3 Class | (3,699) | (3,567) |
Class V | (190,930) | (217,200) |
Total distributions to shareholders | (2,164,879) | (2,460,216) |
Decrease in net assets from capital stock activity | (2,758,010) | (4,306,391) |
Total decrease in net assets | (3,300,078) | (3,974,218) |
Net assets at beginning of year | 97,315,098 | 101,289,316 |
Net assets at end of year | $94,015,020 | $97,315,098 |
Columbia Connecticut Intermediate Municipal Bond Fund | Annual Report 2021 | 17 |
Year Ended | Year Ended | |||
October 31, 2021 | October 31, 2020 | |||
Shares | Dollars ($) | Shares | Dollars ($) | |
Capital stock activity | ||||
Class A | ||||
Subscriptions | 73,223 | 792,051 | 65,115 | 698,673 |
Distributions reinvested | 10,295 | 111,102 | 11,294 | 120,957 |
Redemptions | (101,450) | (1,094,544) | (84,339) | (903,163) |
Net decrease | (17,932) | (191,391) | (7,930) | (83,533) |
Advisor Class | ||||
Subscriptions | 45,117 | 487,069 | 24,968 | 267,640 |
Distributions reinvested | 2,541 | 27,367 | 2,151 | 22,997 |
Redemptions | (3,673) | (39,693) | (8,877) | (94,189) |
Net increase | 43,985 | 474,743 | 18,242 | 196,448 |
Class C | ||||
Subscriptions | 49,497 | 533,718 | 17,515 | 188,235 |
Distributions reinvested | 2,273 | 24,531 | 2,862 | 30,640 |
Redemptions | (48,406) | (522,369) | (57,674) | (615,595) |
Net increase (decrease) | 3,364 | 35,880 | (37,297) | (396,720) |
Institutional Class | ||||
Subscriptions | 554,611 | 5,992,959 | 1,056,843 | 11,276,540 |
Distributions reinvested | 21,149 | 228,078 | 20,955 | 224,322 |
Redemptions | (818,726) | (8,834,335) | (1,459,769) | (15,440,660) |
Net decrease | (242,966) | (2,613,298) | (381,971) | (3,939,798) |
Institutional 3 Class | ||||
Subscriptions | — | — | 14,019 | 150,000 |
Distributions reinvested | 311 | 3,362 | 307 | 3,299 |
Redemptions | (14,330) | (153,732) | (307) | (3,299) |
Net increase (decrease) | (14,019) | (150,370) | 14,019 | 150,000 |
Class V | ||||
Subscriptions | 1,790 | 19,287 | 2,120 | 22,671 |
Distributions reinvested | 10,191 | 109,819 | 11,682 | 124,933 |
Redemptions | (41,297) | (442,680) | (35,583) | (380,392) |
Net decrease | (29,316) | (313,574) | (21,781) | (232,788) |
Total net decrease | (256,884) | (2,758,010) | (416,718) | (4,306,391) |
18 | Columbia Connecticut Intermediate Municipal Bond Fund | Annual Report 2021 |
Columbia Connecticut Intermediate Municipal Bond Fund | Annual Report 2021 | 19 |
Net asset value, beginning of period | Net investment income | Net realized and unrealized gain (loss) | Total from investment operations | Distributions from net investment income | Distributions from net realized gains | Total distributions to shareholders | |
Class A | |||||||
Year Ended 10/31/2021 | $10.74 | 0.21 | (0.06) | 0.15 | (0.21) | (0.01) | (0.22) |
Year Ended 10/31/2020 | $10.68 | 0.24 | 0.06 | 0.30 | (0.24) | — | (0.24) |
Year Ended 10/31/2019 | $10.16 | 0.27 | 0.53 | 0.80 | (0.28) | — | (0.28) |
Year Ended 10/31/2018 | $10.56 | 0.27 | (0.37) | (0.10) | (0.28) | (0.02) | (0.30) |
Year Ended 10/31/2017 | $10.86 | 0.29 | (0.26) | 0.03 | (0.29) | (0.04) | (0.33) |
Advisor Class | |||||||
Year Ended 10/31/2021 | $10.72 | 0.23 | (0.04) | 0.19 | (0.24) | (0.01) | (0.25) |
Year Ended 10/31/2020 | $10.67 | 0.27 | 0.05 | 0.32 | (0.27) | — | (0.27) |
Year Ended 10/31/2019 | $10.15 | 0.30 | 0.53 | 0.83 | (0.31) | — | (0.31) |
Year Ended 10/31/2018 | $10.54 | 0.30 | (0.37) | (0.07) | (0.30) | (0.02) | (0.32) |
Year Ended 10/31/2017 | $10.84 | 0.31 | (0.26) | 0.05 | (0.31) | (0.04) | (0.35) |
Class C | |||||||
Year Ended 10/31/2021 | $10.74 | 0.16 | (0.06) | 0.10 | (0.16) | (0.01) | (0.17) |
Year Ended 10/31/2020 | $10.68 | 0.19 | 0.06 | 0.25 | (0.19) | — | (0.19) |
Year Ended 10/31/2019 | $10.16 | 0.23 | 0.52 | 0.75 | (0.23) | — | (0.23) |
Year Ended 10/31/2018 | $10.55 | 0.23 | (0.37) | (0.14) | (0.23) | (0.02) | (0.25) |
Year Ended 10/31/2017 | $10.86 | 0.24 | (0.27) | (0.03) | (0.24) | (0.04) | (0.28) |
Institutional Class | |||||||
Year Ended 10/31/2021 | $10.73 | 0.24 | (0.05) | 0.19 | (0.24) | (0.01) | (0.25) |
Year Ended 10/31/2020 | $10.68 | 0.27 | 0.05 | 0.32 | (0.27) | — | (0.27) |
Year Ended 10/31/2019 | $10.16 | 0.30 | 0.53 | 0.83 | (0.31) | — | (0.31) |
Year Ended 10/31/2018 | $10.55 | 0.30 | (0.37) | (0.07) | (0.30) | (0.02) | (0.32) |
Year Ended 10/31/2017 | $10.86 | 0.31 | (0.27) | 0.04 | (0.31) | (0.04) | (0.35) |
Institutional 3 Class | |||||||
Year Ended 10/31/2021 | $10.76 | 0.25 | (0.05) | 0.20 | (0.25) | (0.01) | (0.26) |
Year Ended 10/31/2020 | $10.70 | 0.28 | 0.06 | 0.34 | (0.28) | — | (0.28) |
Year Ended 10/31/2019 | $10.18 | 0.31 | 0.53 | 0.84 | (0.32) | — | (0.32) |
Year Ended 10/31/2018 | $10.58 | 0.31 | (0.37) | (0.06) | (0.32) | (0.02) | (0.34) |
Year Ended 10/31/2017(e) | $10.55 | 0.21 | 0.03(f) | 0.24 | (0.21) | — | (0.21) |
20 | Columbia Connecticut Intermediate Municipal Bond Fund | Annual Report 2021 |
Net asset value, end of period | Total return | Total gross expense ratio to average net assets(a) | Total net expense ratio to average net assets(a),(b) | Net investment income ratio to average net assets | Portfolio turnover | Net assets, end of period (000’s) | |
Class A | |||||||
Year Ended 10/31/2021 | $10.67 | 1.39% | 0.94% | 0.81%(c) | 1.94% | 9% | $7,627 |
Year Ended 10/31/2020 | $10.74 | 2.87% | 0.93% | 0.80%(c) | 2.27% | 17% | $7,864 |
Year Ended 10/31/2019 | $10.68 | 7.95% | 0.93% | 0.80%(c) | 2.59% | 12% | $7,910 |
Year Ended 10/31/2018 | $10.16 | (0.97%) | 0.92% | 0.81%(c) | 2.63% | 13% | $6,967 |
Year Ended 10/31/2017 | $10.56 | 0.28% | 0.93%(d) | 0.77%(c),(d) | 2.71% | 6% | $6,424 |
Advisor Class | |||||||
Year Ended 10/31/2021 | $10.66 | 1.74% | 0.69% | 0.56%(c) | 2.19% | 9% | $1,463 |
Year Ended 10/31/2020 | $10.72 | 3.03% | 0.68% | 0.55%(c) | 2.52% | 17% | $1,000 |
Year Ended 10/31/2019 | $10.67 | 8.23% | 0.68% | 0.55%(c) | 2.84% | 12% | $801 |
Year Ended 10/31/2018 | $10.15 | (0.63%) | 0.67% | 0.56%(c) | 2.89% | 13% | $357 |
Year Ended 10/31/2017 | $10.54 | 0.54% | 0.66%(d) | 0.51%(c),(d) | 2.96% | 6% | $511 |
Class C | |||||||
Year Ended 10/31/2021 | $10.67 | 0.94% | 1.69% | 1.26%(c) | 1.49% | 9% | $1,674 |
Year Ended 10/31/2020 | $10.74 | 2.41% | 1.68% | 1.25%(c) | 1.82% | 17% | $1,647 |
Year Ended 10/31/2019 | $10.68 | 7.47% | 1.68% | 1.25%(c) | 2.15% | 12% | $2,038 |
Year Ended 10/31/2018 | $10.16 | (1.32%) | 1.67% | 1.26%(c) | 2.17% | 13% | $2,312 |
Year Ended 10/31/2017 | $10.55 | (0.27%) | 1.68%(d) | 1.23%(c),(d) | 2.26% | 6% | $3,914 |
Institutional Class | |||||||
Year Ended 10/31/2021 | $10.67 | 1.74% | 0.69% | 0.56%(c) | 2.19% | 9% | $74,626 |
Year Ended 10/31/2020 | $10.73 | 3.03% | 0.68% | 0.55%(c) | 2.52% | 17% | $77,664 |
Year Ended 10/31/2019 | $10.68 | 8.22% | 0.68% | 0.55%(c) | 2.83% | 12% | $81,364 |
Year Ended 10/31/2018 | $10.16 | (0.63%) | 0.67% | 0.56%(c) | 2.87% | 13% | $80,804 |
Year Ended 10/31/2017 | $10.55 | 0.44% | 0.68%(d) | 0.53%(c),(d) | 2.95% | 6% | $100,370 |
Institutional 3 Class | |||||||
Year Ended 10/31/2021 | $10.70 | 1.84% | 0.59% | 0.46% | 2.30% | 9% | $10 |
Year Ended 10/31/2020 | $10.76 | 3.23% | 0.58% | 0.45% | 2.62% | 17% | $161 |
Year Ended 10/31/2019 | $10.70 | 8.32% | 0.57% | 0.45% | 2.94% | 12% | $10 |
Year Ended 10/31/2018 | $10.18 | (0.61%) | 0.57% | 0.45% | 2.99% | 13% | $10 |
Year Ended 10/31/2017(e) | $10.58 | 2.31% | 0.56%(g) | 0.45%(g) | 3.02%(g) | 6% | $10 |
Columbia Connecticut Intermediate Municipal Bond Fund | Annual Report 2021 | 21 |
Net asset value, beginning of period | Net investment income | Net realized and unrealized gain (loss) | Total from investment operations | Distributions from net investment income | Distributions from net realized gains | Total distributions to shareholders | |
Class V | |||||||
Year Ended 10/31/2021 | $10.72 | 0.22 | (0.05) | 0.17 | (0.22) | (0.01) | (0.23) |
Year Ended 10/31/2020 | $10.67 | 0.25 | 0.05 | 0.30 | (0.25) | — | (0.25) |
Year Ended 10/31/2019 | $10.15 | 0.28 | 0.53 | 0.81 | (0.29) | — | (0.29) |
Year Ended 10/31/2018 | $10.54 | 0.28 | (0.36) | (0.08) | (0.29) | (0.02) | (0.31) |
Year Ended 10/31/2017 | $10.85 | 0.30 | (0.27) | 0.03 | (0.30) | (0.04) | (0.34) |
Notes to Financial Highlights | |
(a) | 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. |
(b) | Total net expenses include the impact of certain fee waivers/expense reimbursements made by the Investment Manager and certain of its affiliates, if applicable. |
(c) | The benefits derived from expense reductions had an impact of less than 0.01%. |
(d) | Expenses have been reduced due to a reimbursement of expenses overbilled by a third party. If the reimbursement had been excluded, the expense ratios would have been higher by the percentages shown for each class in the table below. All fee waivers and expense reimbursements by the Investment Manager and its affiliates were applied before giving effect to this third party reimbursement. |
Year Ended | Class A | Advisor Class | Class C | Institutional Class | Class V |
10/31/2017 | 0.04% | 0.05% | 0.03% | 0.03% | 0.03% |
(e) | Institutional 3 Class shares commenced operations on March 1, 2017. Per share data and total return reflect activity from that date. |
(f) | 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. |
(g) | Annualized. |
22 | Columbia Connecticut Intermediate Municipal Bond Fund | Annual Report 2021 |
Net asset value, end of period | Total return | Total gross expense ratio to average net assets(a) | Total net expense ratio to average net assets(a),(b) | Net investment income ratio to average net assets | Portfolio turnover | Net assets, end of period (000’s) | |
Class V | |||||||
Year Ended 10/31/2021 | $10.66 | 1.59% | 0.84% | 0.71%(c) | 2.04% | 9% | $8,615 |
Year Ended 10/31/2020 | $10.72 | 2.88% | 0.83% | 0.70%(c) | 2.37% | 17% | $8,979 |
Year Ended 10/31/2019 | $10.67 | 8.06% | 0.83% | 0.70%(c) | 2.69% | 12% | $9,167 |
Year Ended 10/31/2018 | $10.15 | (0.78%) | 0.82% | 0.71%(c) | 2.73% | 13% | $9,477 |
Year Ended 10/31/2017 | $10.54 | 0.28% | 0.83%(d) | 0.68%(c),(d) | 2.80% | 6% | $10,456 |
Columbia Connecticut Intermediate Municipal Bond Fund | Annual Report 2021 | 23 |
October 31, 2021
24 | Columbia Connecticut Intermediate Municipal Bond Fund | Annual Report 2021 |
October 31, 2021
Columbia Connecticut Intermediate Municipal Bond Fund | Annual Report 2021 | 25 |
October 31, 2021
26 | Columbia Connecticut Intermediate Municipal Bond Fund | Annual Report 2021 |
October 31, 2021
Effective rate (%) | |
Class A | 0.12 |
Advisor Class | 0.12 |
Class C | 0.12 |
Institutional Class | 0.12 |
Institutional 3 Class | 0.02 |
Class V | 0.12 |
Front End (%) | CDSC (%) | Amount ($) | |
Class A | 3.00 | 0.75(a) | 7,542 |
Class C | — | 1.00(b) | 962 |
Class V | 4.75 | 0.50 - 1.00(c) | — |
(a) | This charge is imposed on certain investments of $500,000 or more if redeemed within 12 months after purchase. |
(b) | This charge applies to redemptions within 12 months after purchase, with certain limited exceptions. |
(c) | This charge is imposed on certain investments of between $1 million and $50 million redeemed within 18 months after purchase, as follows: 1.00% if redeemed within 12 months after purchase, and 0.50% if redeemed more than 12, but less than 18, months after purchase, with certain limited exceptions. |
Columbia Connecticut Intermediate Municipal Bond Fund | Annual Report 2021 | 27 |
October 31, 2021
March 1, 2021 through February 28, 2022 | Prior to March 1, 2021 | |
Class A | 0.81% | 0.81% |
Advisor Class | 0.56 | 0.56 |
Class C | 1.56 | 1.56 |
Institutional Class | 0.56 | 0.56 |
Institutional 3 Class | 0.46 | 0.45 |
Class V | 0.71 | 0.71 |
Year Ended October 31, 2021 | Year Ended October 31, 2020 | ||||||
Ordinary income ($) | Tax-exempt income ($) | Long-term capital gains ($) | Total ($) | Ordinary income ($) | Tax-exempt income ($) | Long-term capital gains ($) | Total ($) |
3 | 2,101,811 | 63,065 | 2,164,879 | 75 | 2,460,141 | — | 2,460,216 |
28 | Columbia Connecticut Intermediate Municipal Bond Fund | Annual Report 2021 |
October 31, 2021
Undistributed ordinary income ($) | Undistributed tax- exempt income ($) | Undistributed long-term capital gains ($) | Capital loss carryforwards ($) | Net unrealized appreciation ($) |
— | 183,424 | 29,393 | — | 5,247,911 |
Federal tax cost ($) | Gross unrealized appreciation ($) | Gross unrealized (depreciation) ($) | Net unrealized appreciation ($) |
89,188,712 | 5,418,079 | (170,168) | 5,247,911 |
Columbia Connecticut Intermediate Municipal Bond Fund | Annual Report 2021 | 29 |
October 31, 2021
30 | Columbia Connecticut Intermediate Municipal Bond Fund | Annual Report 2021 |
October 31, 2021
Columbia Connecticut Intermediate Municipal Bond Fund | Annual Report 2021 | 31 |
October 31, 2021
32 | Columbia Connecticut Intermediate Municipal Bond Fund | Annual Report 2021 |
Columbia Connecticut Intermediate Municipal Bond Fund | Annual Report 2021 | 33 |
Capital gain dividend | Exempt- interest dividends |
$43,989 | 99.99% |
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex* overseen | Other directorships held by Trustee during the past five years |
George S. Batejan c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1953 | Trustee since 2017 | Executive Vice President, Global Head of Technology and Operations, Janus Capital Group, Inc., 2010-2016 | 171 | Former Chairman of the Board, NICSA (National Investment Company Services Association) (Executive Committee, Nominating Committee and Governance Committee), 2014-2016; former Director, Intech Investment Management, 2011-2016; former Board Member, Metro Denver Chamber of Commerce, 2015-2016; former Advisory Board Member, University of Colorado Business School, 2015-2018 |
34 | Columbia Connecticut Intermediate Municipal Bond Fund | Annual Report 2021 |
Independent trustees (continued)
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex* overseen | Other directorships held by Trustee during the past five years |
Kathleen Blatz c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1954 | Trustee since 2006 | Attorney; specializing in arbitration and mediation; Chief Justice, Minnesota Supreme Court, 1998-2006; Associate Justice, Minnesota Supreme Court, 1996-1998; Fourth Judicial District Court Judge, Hennepin County, 1994-1996; Attorney in private practice and public service, 1984-1993; State Representative, Minnesota House of Representatives, 1979-1993, which included service on the Tax and Financial Institutions and Insurance Committees; Member and Interim Chair, Minnesota Sports Facilities Authority, January 2017-July 2017; Interim President and Chief Executive Officer, Blue Cross and Blue Shield of Minnesota (health care insurance), February-July 2018 | 171 | Trustee, BlueCross BlueShield of Minnesota since 2009 (Chair of the Business Development Committee - 2014-2017; Chair of the Governance Committee, 2017-2019); former Member and Chair of the Board, Minnesota Sports Facilities Authority, January 2017-July 2017; Director, Robina Foundation, 2009-2020 (Chair, 2014-2020) |
Pamela G. Carlton c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1954 | Trustee since 2007 | President, Springboard — Partners in Cross Cultural Leadership (consulting company) since 2003; Managing Director of US Equity Research, JP Morgan Chase, 1999-2003; Director of US Equity Research, Chase Asset Management, 1996-1999; Co-Director Latin America Research, 1993-1996, COO Global Research, 1992-1996, Co-Director of US Research, 1991-1992, Investment Banker, Morgan Stanley, 1982-1991; Attorney, Cleary Gottlieb Steen & Hamilton LLP, 1980-1982 | 171 | Trustee, New York Presbyterian Hospital Board (Executive Committee and Chair of People Committee) since 1996; Director, DR Bank (Audit Committee) since 2017; Director, Evercore Inc. (Audit Committee, Nominating and Governance Committee) since 2019 |
Janet Langford Carrig c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1957 | Trustee since 1996 | Senior Vice President, General Counsel and Corporate Secretary, ConocoPhillips (independent energy company), September 2007-October 2018 | 169 | Director, EQT Corporation (natural gas producer) since 2019; Director, Whiting Petroleum Corporation (independent oil and gas company) since 2020 |
J. Kevin Connaughton c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1964 | Trustee since 2020(a) | Member, FINRA National Adjudicatory Council since January 2020; Adjunct Professor of Finance, Bentley University since January 2018; Managing Director and General Manager of Mutual Fund Products, Columbia Management Investment Advisers, LLC, May 2010-February 2015; President, Columbia Funds, 2008-2015; and senior officer of Columbia Funds and affiliated funds, 2003-2015 | 169 | Director, The Autism Project, since March 2015; former Member of the Investment Committee, St. Michael’s College, November 2015-February 2020; former Trustee, St. Michael’s College, June 2017-September 2019; former Trustee, New Century Portfolios, January 2015-December 2017 |
Olive M. Darragh c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1962 | Trustee since 2020(a) | Managing Director of Darragh Inc. (strategy and talent management consulting firm) since 2010; Founder and CEO, Zolio, Inc. (investment management talent identification platform) since 2004; Partner, Tudor Investments, 2004-2010; Senior Partner, McKinsey & Company (consulting), 2001-2004 | 169 | Former Director, University of Edinburgh Business School (Member of US Board); former Director, Boston Public Library Foundation |
Columbia Connecticut Intermediate Municipal Bond Fund | Annual Report 2021 | 35 |
Independent trustees (continued)
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex* overseen | Other directorships held by Trustee during the past five years |
Patricia M. Flynn c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1950 | Trustee since 2004 | Trustee Professor of Economics and Management, Bentley University since 1976 (also teaches and conducts research on corporate governance); Dean, McCallum Graduate School of Business, Bentley University, 1992-2002 | 171 | Trustee, MA Taxpayers Foundation since 1997; Board of Governors, Innovation Institute, MA Technology Collaborative, 2010-2019; Board of Directors, The MA Business Roundtable, 2003-2019 |
Brian J. Gallagher c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1954 | Trustee since 2017 | Retired; Partner with Deloitte & Touche LLP and its predecessors, 1977-2016 | 171 | Trustee, Catholic Schools Foundation since 2004 |
Douglas A. Hacker c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1955 | Co-Chair since 2021; Chair of CFST I and CFVIT since 2014; Trustee of CFST I and CFVIT since 1996 and CFST, CFST II, CFVST II, CET I and CET II since 2021 | Independent business executive since May 2006; Executive Vice President – Strategy of United Airlines, December 2002 - May 2006; President of UAL Loyalty Services (airline marketing company), September 2001-December 2002; Executive Vice President and Chief Financial Officer of United Airlines, July 1999-September 2001 | 169 | Director, Spartan Nash Company (food distributor); Director, Aircastle Limited (Chair of Audit Committee) (aircraft leasing); former Director, Nash Finch Company (food distributor), 2005-2013; former Director, SeaCube Container Leasing Ltd. (container leasing), 2010-2013; and former Director, Travelport Worldwide Limited (travel information technology), 2014-2019 |
Nancy T. Lukitsh c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1956 | Trustee since 2011 | Senior Vice President, Partner and Director of Marketing, Wellington Management Company, LLP (investment adviser), 1997-2010; Chair, Wellington Management Portfolios (commingled non-U.S. investment pools), 2007 -2010; Director, Wellington Trust Company, NA and other Wellington affiliates, 1997-2010 | 169 | None |
David M. Moffett c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1952 | Trustee since 2011 | Retired; Consultant to Bridgewater and Associates | 169 | Director, CSX Corporation (transportation suppliers); Director, Genworth Financial, Inc. (financial and insurance products and services); Director, PayPal Holdings Inc. (payment and data processing services); Trustee, University of Oklahoma Foundation; former Director, eBay Inc. (online trading community), 2007-2015; and former Director, CIT Bank, CIT Group Inc. (commercial and consumer finance), 2010-2016 |
36 | Columbia Connecticut Intermediate Municipal Bond Fund | Annual Report 2021 |
Independent trustees (continued)
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex* overseen | Other directorships held by Trustee during the past five years |
Catherine James Paglia c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1952 | Co-Chair since 2021; Chair of CFST, CFST II, CFVST II, CET I and CET II since 2020; Trustee of CFST, CFST II and CFVST II since 2004 and CFST I and CFVIT since 2021 | Director, Enterprise Asset Management, Inc. (private real estate and asset management company) since September 1998; Managing Director and Partner, Interlaken Capital, Inc., 1989-1997; Vice President, 1982-1985, Principal, 1985-1987, Managing Director, 1987-1989, Morgan Stanley; Vice President, Investment Banking, 1980-1982, Associate, Investment Banking, Dean Witter Reynolds, Inc., 1976-1980 | 171 | Director, Valmont Industries, Inc. (irrigation systems manufacturer) since 2012; Trustee, Carleton College (on the Investment Committee); Trustee, Carnegie Endowment for International Peace (on the Investment Committee) |
Anthony M. Santomero c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1946 | Trustee since 2008 | Richard K. Mellon Professor Emeritus of Finance, The Wharton School, University of Pennsylvania, since 2002; Senior Advisor, McKinsey & Company (consulting), 2006-2008; President, Federal Reserve Bank of Philadelphia, 2000-2006; Professor of Finance, The Wharton School, University of Pennsylvania, 1972-2002 | 171 | Trustee, Penn Mutual Life Insurance Company since March 2008; Director, RenaissanceRe Holdings Ltd. since May 2008; former Director, Citigroup Inc. and Citibank, N.A., 2009-2019; former Trustee, BofA Funds Series Trust (11 funds), 2008-2011 |
Minor M. Shaw c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1947 | Trustee since 2003 | President, Micco LLC (private investments) since 2011; President, Micco Corp. (family investment business), 1998-2011 | 171 | Director, BlueCross BlueShield of South Carolina (Chair of Compensation Committee) since April 2008; Trustee, Hollingsworth Funds (on the Investment Committee) since 2016 (previously Board Chair from 2016-2019); Former Advisory Board member, Duke Energy Corp., 2016-2020; Chair of the Duke Endowment; Chair of Greenville – Spartanburg Airport Commission; former Trustee, BofA Funds Series Trust (11 funds), 2003-2011; former Director, Piedmont Natural Gas, 2004-2016; former Director, National Association of Corporate Directors, Carolinas Chapter, 2013-2018; Chair, Daniel-Mickel Foundation |
Columbia Connecticut Intermediate Municipal Bond Fund | Annual Report 2021 | 37 |
Independent trustees (continued)
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex* overseen | Other directorships held by Trustee during the past five years |
Natalie A. Trunow c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1967 | Trustee since 2020(a) | Chief Executive Officer, Millennial Portfolio Solutions LLC (asset management and consulting services) since January 2016; Non-executive Member of the Investment Committee, Sarona Asset Management Inc. (private equity firm) since September 2019; Advisor, Horizon Investments (asset management and consulting services) since August 2018; Advisor, Paradigm Asset Management since November 2016; Director of Investments, Casey Family Programs, April 2016-September 2016; Senior Vice President and Chief Investment Officer, Calvert Investments, August 2008 - January 2016; Section Head and Portfolio Manager, General Motors Asset Management, June 1997-August 2008 | 169 | Director, Health Services for Children with Special Needs, Inc.; Director, Consumer Credit Counseling Services (formerly Guidewell Financial Solutions); Independent Director, Investment Committee, Sarona Asset Management |
Sandra Yeager c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1964 | Trustee since 2017 | Retired; President and founder, Hanoverian Capital, LLC (SEC registered investment advisor firm), 2008-2016; Managing Director, DuPont Capital, 2006-2008; Managing Director, Morgan Stanley Investment Management, 2004-2006; Senior Vice President, Alliance Bernstein, 1990-2004 | 171 | Director, NAPE Education Foundation, October 2016-October 2020 |
* | The term “Columbia Funds Complex” as used herein includes Columbia Seligman Premium Technology Growth Fund, Tri-Continental Corporation and each series of Columbia Fund Series Trust (CFST), Columbia Funds Series Trust I (CFST I), Columbia Funds Series Trust II (CFST II), Columbia ETF Trust I (CET I), Columbia ETF Trust II (CET II), Columbia Funds Variable Insurance Trust (CFVIT) and Columbia Funds Variable Series Trust II (CFVST II). Messrs. Batejan, Beckman, Gallagher and Santomero and Mses. Blatz, Carlton, Flynn, Paglia, Shaw and Yeager serve as a director of Columbia Seligman Premium Technology Growth Fund and Tri-Continental Corporation. |
(a) | J. Kevin Connaughton was appointed a consultant to the Independent Trustees of CFST I and CFVIT effective March 1, 2016. Natalie A. Trunow was appointed a consultant to the Independent Trustees of CFST I and CFVIT effective September 1, 2016. Olive M. Darragh was appointed a consultant to the Independent Trustees of CFST I and CFVIT effective June 10, 2019. Shareholders of the Funds elected Mr. Connaughton and Mses. Darragh and Trunow as Trustees of CFST, CFST I, CFST II, CET I, CET II, and CFVST II, effective January 1, 2021, and of CFVIT, effective July 1, 2020. |
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during the past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex overseen | Other directorships held by Trustee during the past five years |
Daniel J. Beckman c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1962 | Trustee since November 2021(a) | Vice President – Head of North America Product, Columbia Management Investment Advisers, LLC (since April 2015); officer of Columbia Funds and affiliated funds since 2020. | 171 | Director, Ameriprise Trust Company, since October 2016; Director, Columbia Management Investment Distributors, Inc. since November 2018 |
* | 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. |
(a) | Mr. Beckman serves as the President and Principal Executive Officer of the Columbia Funds (since 2021). |
38 | Columbia Connecticut Intermediate Municipal Bond Fund | Annual Report 2021 |
The Board has appointed officers who are responsible for day-to-day business decisions based on policies it has established. The officers serve at the pleasure of the Board. The following table provides basic information about the Officers of the Fund as of the printing of this report, including principal occupations during the past five years, although their specific titles may have varied over the period. In addition to Mr. Beckman, who is the President and Principal Executive Officer, the Fund’s other officers are:
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 |
Michael G. Clarke 290 Congress Street Boston, MA 02210 1969 | Chief Financial Officer and Principal Financial Officer (2009) and Senior Vice President (2019) | Vice President, Head of North American Operations, and Co-Head of Global Operations, Columbia Management Investment Advisers, LLC, since June 2019 (previously Vice President – Accounting and Tax, May 2010 – May 2019); senior officer of Columbia Funds and affiliated funds since 2002. |
Joseph Beranek 5890 Ameriprise Financial Center Minneapolis, MN 55474 1965 | Treasurer and Chief Accounting Officer (Principal Accounting Officer) (2019) and Principal Financial Officer (2020), CFST, CFST I, CFST II, CFVIT and CFVST II; Assistant Treasurer, CET I and CET II | Vice President – Mutual Fund Accounting and Financial Reporting, Columbia Management Investment Advisers, LLC, since December 2018 and March 2017, respectively (previously Vice President – Pricing and Corporate Actions, May 2010 - March 2017). |
Marybeth Pilat 290 Congress Street Boston, MA 02210 1968 | Treasurer and Chief Accounting Officer (Principal Accounting Officer) and Principal Financial Officer (2020) for CET I and CET II; Assistant Treasurer, CFST, CFST I, CFST II, CFVIT and CFVST II | Vice President – Product Pricing and Administration, Columbia Management Investment Advisers, LLC, since May 2017; Director - Fund Administration, Calvert Investments, August 2015 – March 2017; Vice President - Fund Administration, Legg Mason, May 2015 - July 2015; Vice President - Fund Administration, Columbia Management Investment Advisers, LLC, May 2010 - April 2015. |
William F. Truscott 290 Congress Street Boston, MA 02210 1960 | Senior Vice President (2001) | Formerly, Trustee of Columbia Funds Complex until January 1, 2021; Chief Executive Officer, Global Asset Management, Ameriprise Financial, Inc. since September 2012; Chairman of the Board and President, Columbia Management Investment Advisers, LLC since July 2004 and February 2012, respectively; Chairman of the Board and Chief Executive Officer, Columbia Management Investment Distributors, Inc. since November 2008 and February 2012, respectively; Chairman of the Board and Director, Threadneedle Asset Management Holdings, Sàrl since March 2013 and December 2008, respectively; senior executive of various entities affiliated with Columbia Threadneedle. |
Christopher O. Petersen 5228 Ameriprise Financial Center Minneapolis, MN 55474 1970 | Senior Vice President and Assistant Secretary | Formerly, Trustee of Columbia Funds Complex until November 22, 2021; Senior Vice President and Assistant General Counsel, Ameriprise Financial, Inc. since September 2021 (previously Vice President and Lead Chief Counsel, January 2015 - September 2021); President and Principal Executive Officer of the Columbia Funds 2015 - 2021; officer of Columbia Funds and affiliated funds since 2007. |
Thomas P. McGuire 290 Congress Street Boston, MA 02210 1972 | Senior Vice President and Chief Compliance Officer (2012) | Vice President – Asset Management Compliance, Ameriprise Financial, Inc., since May 2010; Chief Compliance Officer, Columbia Acorn/Wanger Funds since December 2015; Chief Compliance Officer, Ameriprise Certificate Company September 2010 – September 2020. |
Colin Moore 290 Congress Street Boston, MA 02210 1958 | Senior Vice President (2010) | Executive Vice President and Global Chief Investment Officer, Ameriprise Financial, Inc., since July 2013; Executive Vice President and Global Chief Investment Officer, Columbia Management Investment Advisers, LLC since July 2013. |
Ryan C. Larrenaga 290 Congress Street Boston, MA 02210 1970 | Senior Vice President (2017), Chief Legal Officer (2017), and Secretary (2015) | Vice President and Chief Counsel, Ameriprise Financial, Inc. since August 2018 (previously Vice President and Group Counsel, August 2011 - August 2018); Chief Legal Officer, Columbia Acorn/Wanger Funds, since September 2020; officer of Columbia Funds and affiliated funds since 2005. |
Columbia Connecticut Intermediate Municipal Bond Fund | Annual Report 2021 | 39 |
Fund officers (continued)
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 |
Michael E. DeFao 290 Congress Street Boston, MA 02210 1968 | Vice President (2011) and Assistant Secretary (2010) | Vice President and Chief Counsel, Ameriprise Financial, Inc. since May 2010; Vice President, Chief Legal Officer and Assistant Secretary, Columbia Management Investment Advisers, LLC since October 2021 (previously Vice President and Assistant Secretary, May 2010 – September 2021). |
Lyn Kephart-Strong 5228 Ameriprise Financial Center Minneapolis, MN 55474 1960 | Vice President (2015) | President, Columbia Management Investment Services Corp. since October 2014; Vice President & Resolution Officer, Ameriprise Trust Company since August 2009. |
• | Information on the investment performance of the Fund relative to the performance of a group of mutual funds determined to be comparable to the Fund by Broadridge, as well as performance relative to benchmarks; |
• | Information on the Fund’s management fees and total expenses, including information comparing the Fund’s expenses to those of a group of comparable mutual funds, as determined by Broadridge; |
40 | Columbia Connecticut Intermediate Municipal Bond Fund | Annual Report 2021 |
• | The Investment Manager’s agreement to contractually limit or cap total operating expenses for the Fund so that total operating expenses (excluding certain fees and expenses, such as transaction costs and certain other investment related expenses, interest, taxes, acquired fund fees and expenses, and infrequent and/or unusual expenses) would not exceed a specified annual rate, as a percentage of the Fund’s net assets; |
• | Terms of the Management Agreement; |
• | Descriptions of other agreements and arrangements with affiliates of the Investment Manager relating to the operations of the Fund, including agreements with respect to the provision of transfer agency and shareholder services to the Fund; |
• | Descriptions of various services performed by the Investment Manager under the Management Agreement, including portfolio management and portfolio trading practices; |
• | Information regarding any recently negotiated management fees of similarly-managed portfolios of other institutional clients of the Investment Manager; |
• | Information regarding the resources of the Investment Manager, including information regarding senior management, portfolio managers and other personnel; |
• | Information regarding the capabilities of the Investment Manager with respect to compliance monitoring services; |
• | The profitability to the Investment Manager and its affiliates from their relationships with the Fund; and |
• | Report provided by the Board’s independent fee consultant, JDL Consultants, LLC (JDL). |
Columbia Connecticut Intermediate Municipal Bond Fund | Annual Report 2021 | 41 |
Investment performance
42 | Columbia Connecticut Intermediate Municipal Bond Fund | Annual Report 2021 |
Economies of scale
Columbia Connecticut Intermediate Municipal Bond Fund | Annual Report 2021 | 43 |
columbiathreadneedleus.com/investor/. The Fund is distributed by Columbia Management Investment Distributors, Inc., member FINRA, and managed by Columbia Management Investment Advisers, LLC.
October 31, 2021
3 | |
5 | |
7 | |
8 | |
22 | |
24 | |
25 | |
28 | |
32 | |
41 | |
42 | |
42 | |
48 |
Average annual total returns (%) (for the period ended October 31, 2021) | |||||
Inception | 1 Year | 5 Years | 10 Years | ||
Class A | Excluding sales charges | 11/25/02 | 2.61 | 2.58 | 3.04 |
Including sales charges | -0.51 | 1.96 | 2.73 | ||
Advisor Class* | 03/19/13 | 2.81 | 2.77 | 3.23 | |
Class C | Excluding sales charges | 11/25/02 | 1.99 | 1.91 | 2.49 |
Including sales charges | 1.00 | 1.91 | 2.49 | ||
Institutional Class | 06/14/93 | 2.81 | 2.77 | 3.24 | |
Institutional 2 Class* | 11/08/12 | 2.98 | 2.86 | 3.32 | |
Institutional 3 Class* | 03/01/17 | 2.93 | 2.87 | 3.29 | |
Class V | Excluding sales charges | 06/26/00 | 2.76 | 2.63 | 3.10 |
Including sales charges | -2.09 | 1.65 | 2.59 | ||
Bloomberg 3-15 Year Blend Municipal Bond Index | 1.93 | 3.11 | 3.46 |
* | The returns shown for periods prior to the share class inception date (including returns for the Life of the Fund, if shown, which are since Fund inception) include the returns of the Fund’s oldest share class. These returns are adjusted to reflect any higher class-related operating expenses of the newer share classes, as applicable. Please visit columbiathreadneedleus.com/investor/investment-products/mutual-funds/appended-performance for more information. |
Columbia Intermediate Municipal Bond Fund | Annual Report 2021 | 3 |
Quality breakdown (%) (at October 31, 2021) | |
AAA rating | 2.3 |
AA rating | 25.3 |
A rating | 48.2 |
BBB rating | 15.5 |
BB rating | 2.9 |
CCC rating | 1.0 |
Not rated | 4.8 |
Total | 100.0 |
Top Ten States/Territories (%) (at October 31, 2021) | |
California | 16.6 |
Texas | 14.3 |
Illinois | 10.1 |
New York | 5.7 |
Florida | 5.7 |
Massachusetts | 4.3 |
District of Columbia | 4.2 |
New Jersey | 3.9 |
South Carolina | 3.5 |
Colorado | 3.1 |
4 | Columbia Intermediate Municipal Bond Fund | Annual Report 2021 |
Columbia Intermediate Municipal Bond Fund | Annual Report 2021 | 5 |
• | The Fund benefited from its meaningful overweight to lower investment grade rated issues across several sectors during the period as lower quality and longer maturity bonds outperformed. |
• | The top sector return of over 10% was generated in student housing as students returned to campuses across the nation. |
• | Holdings in continuing care retirement communities (CCRCs) did similarly well as vaccinations were administered and operations returned to a more normal state, including a resumption in family member visits. |
• | The Fund’s two largest sector weights, hospitals and transportation, were positive contributors as well. Hospitals resumed elective surgeries and volumes increased across toll roads and harbor ports. |
• | Yield curve positioning was another bright spot for the Fund as longer intermediate maturities outperformed. The Fund was more than 10% overweight to bonds maturing in 8 years and longer versus its benchmark. |
• | Lastly, the Fund’s exposure to bonds with 4% coupons was a plus during the period as they outperformed. We believe 4% coupon bonds offer additional yield and income versus traditional 5% coupon bonds. We nearly doubled the Fund’s exposure to this area during the year as we worked toward establishing a weighting in line with the benchmark. |
• | The Fund’s holdings of bonds with maturities of inside of two years and pre-refunded bonds produced modest total returns during the period that underperformed the benchmark. While we do not believe that there is anything inherently wrong with these holdings, they are just very short and/or very high-quality holdings that are low yielding. In our view, they are natural reinvestment candidates and are excellent sources of liquidity. |
• | Timing of a few Fund purchases detracted from performance. Rates bottomed out in mid-February 2021 and again during late July. We were intentionally not very active during these periods as we believed the strong supply/demand technical environment was driving municipal bonds to potentially rich levels. However, we did purchase a few positions for the Fund that we felt were attractive. As rates drifted up during the remainder of the period, these positions became performance detractors. |
6 | Columbia Intermediate Municipal Bond Fund | Annual Report 2021 |
(Unaudited)
May 1, 2021 — October 31, 2021 | |||||||
Account value at the beginning of the period ($) | Account value at the end of the period ($) | Expenses paid during the period ($) | Fund’s annualized expense ratio (%) | ||||
Actual | Hypothetical | Actual | Hypothetical | Actual | Hypothetical | Actual | |
Class A | 1,000.00 | 1,000.00 | 1,001.60 | 1,021.59 | 3.34 | 3.38 | 0.67 |
Advisor Class | 1,000.00 | 1,000.00 | 1,002.60 | 1,022.59 | 2.35 | 2.37 | 0.47 |
Class C | 1,000.00 | 1,000.00 | 998.60 | 1,018.60 | 6.33 | 6.39 | 1.27 |
Institutional Class | 1,000.00 | 1,000.00 | 1,002.60 | 1,022.59 | 2.35 | 2.37 | 0.47 |
Institutional 2 Class | 1,000.00 | 1,000.00 | 1,003.90 | 1,022.89 | 2.05 | 2.07 | 0.41 |
Institutional 3 Class | 1,000.00 | 1,000.00 | 1,003.20 | 1,023.09 | 1.85 | 1.87 | 0.37 |
Class V | 1,000.00 | 1,000.00 | 1,001.90 | 1,021.84 | 3.09 | 3.13 | 0.62 |
Columbia Intermediate Municipal Bond Fund | Annual Report 2021 | 7 |
October 31, 2021
Municipal Bonds 98.5% | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Alabama 0.4% | ||||
Southeast Energy Authority A Cooperative District | ||||
Revenue Bonds | ||||
Project #2 | ||||
Series 2021B (Mandatory Put 12/01/31) | ||||
12/01/2051 | 4.000% | 4,000,000 | 4,786,783 | |
Alaska 0.2% | ||||
Northern Tobacco Securitization Corp. | ||||
Refunding Revenue Bonds | ||||
Series 2021A Class 1 | ||||
06/01/2038 | 4.000% | 1,000,000 | 1,169,827 | |
06/01/2039 | 4.000% | 1,000,000 | 1,165,059 | |
Total | 2,334,886 | |||
Arizona 1.6% | ||||
Arizona State University | ||||
Revenue Bonds | ||||
Green Bonds | ||||
Series 2019A | ||||
07/01/2037 | 5.000% | 7,800,000 | 9,833,763 | |
City of Phoenix Civic Improvement Corp.(a) | ||||
Revenue Bonds | ||||
Junior Lien | ||||
Series 2019B | ||||
07/01/2036 | 5.000% | 3,500,000 | 4,300,026 | |
La Paz County Industrial Development Authority | ||||
Revenue Bonds | ||||
Charter School Solutions - Harmony Public Schools Project | ||||
Series 2016 | ||||
02/15/2036 | 5.000% | 2,800,000 | 3,122,065 | |
Total | 17,255,854 | |||
California 16.4% | ||||
California Educational Facilities Authority | ||||
Revenue Bonds | ||||
Chapman University | ||||
Series 2015 | ||||
04/01/2028 | 5.000% | 1,000,000 | 1,143,207 | |
04/01/2029 | 5.000% | 1,650,000 | 1,884,067 | |
04/01/2030 | 5.000% | 1,700,000 | 1,938,634 | |
California Health Facilities Financing Authority | ||||
Prerefunded 11/15/25 Revenue Bonds | ||||
Sutter Health Obligation Group | ||||
Series 2016A | ||||
11/15/2033 | 5.000% | 5,000,000 | 5,912,971 | |
Refunding Revenue Bonds | ||||
El Camino Hospital | ||||
Series 2015A | ||||
02/01/2029 | 5.000% | 1,485,000 | 1,695,256 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Revenue Bonds | ||||
El Camino Hospital | ||||
Series 2017 | ||||
02/01/2034 | 5.000% | 1,750,000 | 2,112,599 | |
California Municipal Finance Authority | ||||
Revenue Bonds | ||||
National University | ||||
Series 2019A | ||||
04/01/2037 | 5.000% | 1,470,000 | 1,797,385 | |
California School Finance Authority(b) | ||||
Prerefunded 08/01/25 Revenue Bonds | ||||
Aspire Public School | ||||
Series 2016 | ||||
08/01/2036 | 5.000% | 175,000 | 204,139 | |
Refunding Revenue Bonds | ||||
Aspire Public School | ||||
Series 2016 | ||||
08/01/2036 | 5.000% | 1,910,000 | 2,153,107 | |
California State Public Works Board | ||||
Prerefunded 11/01/22 Revenue Bonds | ||||
Various Capital Projects | ||||
Series 2012G | ||||
11/01/2028 | 5.000% | 5,510,000 | 5,774,979 | |
Revenue Bonds | ||||
Various Capital Projects | ||||
Series 2013I | ||||
11/01/2028 | 5.250% | 9,225,000 | 10,101,561 | |
11/01/2029 | 5.000% | 5,000,000 | 5,449,231 | |
11/01/2031 | 5.500% | 2,930,000 | 3,222,954 | |
Various Correctional Facilities | ||||
Series 2014A | ||||
09/01/2031 | 5.000% | 15,350,000 | 17,259,190 | |
California State Public Works Board(c) | ||||
Refunding Revenue Bonds | ||||
Various Purpose | ||||
Series 2022A | ||||
08/01/2036 | 5.000% | 1,040,000 | 1,331,592 | |
California Statewide Communities Development Authority | ||||
Prerefunded 10/01/24 Revenue Bonds | ||||
Henry Mayo Newhall Memorial Hospital | ||||
Series 2014A (AGM) | ||||
10/01/2034 | 5.000% | 5,000,000 | 5,643,174 | |
Revenue Bonds | ||||
Methodist Hospital of Southern California | ||||
Series 2018 | ||||
01/01/2038 | 5.000% | 3,000,000 | 3,573,262 | |
Series 2017 | ||||
05/15/2033 | 5.000% | 1,350,000 | 1,611,989 | |
05/15/2034 | 5.000% | 1,000,000 | 1,192,300 | |
05/15/2035 | 5.000% | 2,200,000 | 2,619,180 |
8 | Columbia Intermediate Municipal Bond Fund | Annual Report 2021 |
October 31, 2021
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
City of Tulare Sewer | ||||
Refunding Revenue Bonds | ||||
Series 2015 (AGM) | ||||
11/15/2030 | 5.000% | 1,910,000 | 2,227,299 | |
11/15/2031 | 5.000% | 1,000,000 | 1,164,392 | |
11/15/2032 | 5.000% | 1,610,000 | 1,875,368 | |
City of Upland | ||||
Refunding Certificate of Participation | ||||
San Antonio Regional Hospital | ||||
Series 2017 | ||||
01/01/2035 | 4.000% | 1,000,000 | 1,118,143 | |
Del Mar Race Track Authority | ||||
Refunding Revenue Bonds | ||||
Series 2015 | ||||
10/01/2035 | 5.000% | 2,665,000 | 2,757,767 | |
Golden State Tobacco Securitization Corp. | ||||
Prerefunded 06/01/25 Asset-Backed Revenue Bonds | ||||
Series 2015A | ||||
06/01/2033 | 5.000% | 5,250,000 | 6,106,626 | |
Refunding Revenue Bonds | ||||
Series 2017A-1 | ||||
06/01/2024 | 5.000% | 5,000,000 | 5,551,527 | |
Hartnell Community College District(d) | ||||
Unlimited General Obligation Refunding Bonds | ||||
Capital Appreciation Serial Bonds | ||||
Series 2015A | ||||
08/01/2035 | 0.000% | 2,650,000 | 1,682,605 | |
La Quinta Redevelopment Agency Successor Agency | ||||
Prerefunded 09/01/23 Tax Allocation Bonds | ||||
Redevelopment Project | ||||
Subordinated Series 2013A | ||||
09/01/2029 | 5.000% | 5,000,000 | 5,431,318 | |
Los Angeles County Sanitation Districts Financing Authority | ||||
Refunding Revenue Bonds | ||||
Capital Projects - District #14 | ||||
Subordinated Series 2015 | ||||
10/01/2033 | 5.000% | 4,000,000 | 4,647,864 | |
Manteca Unified School District(d) | ||||
Unlimited General Obligation Bonds | ||||
Capital Appreciation-Election of 2004 | ||||
Series 2006 (NPFGC) | ||||
08/01/2024 | 0.000% | 5,000,000 | 4,888,006 | |
Pico Rivera Water Authority | ||||
Revenue Bonds | ||||
Water System Project | ||||
Series 1999A (NPFGC) | ||||
05/01/2029 | 5.500% | 2,520,000 | 2,953,127 | |
Rancho Santiago Community College District(d) | ||||
Unlimited General Obligation Bonds | ||||
Capital Appreciation-Election of 2002 | ||||
Series 2006C (AGM) | ||||
09/01/2031 | 0.000% | 28,000,000 | 23,381,294 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
San Francisco City & County Airport Commission - San Francisco International Airport(a) | ||||
Revenue Bonds | ||||
Series 2019E | ||||
05/01/2037 | 5.000% | 450,000 | 553,053 | |
San Joaquin Hills Transportation Corridor Agency(d) | ||||
Revenue Bonds | ||||
Senior Lien | ||||
Series 1993 Escrowed to Maturity | ||||
01/01/2025 | 0.000% | 22,405,000 | 22,132,217 | |
San Jose Financing Authority | ||||
Prerefunded 06/01/23 Revenue Bonds | ||||
Civic Center Project | ||||
Series 2013A | ||||
06/01/2029 | 5.000% | 5,000,000 | 5,374,059 | |
Southern California Public Power Authority | ||||
Revenue Bonds | ||||
Project No. 1 | ||||
Series 2007A | ||||
11/01/2022 | 5.250% | 2,500,000 | 2,622,579 | |
State of California | ||||
Unlimited General Obligation Bonds | ||||
Series 2015 | ||||
03/01/2033 | 5.000% | 2,500,000 | 2,854,533 | |
Tustin Community Facilities District | ||||
Refunding Special Tax Bonds | ||||
Legacy Villages of Columbus #06-1 | ||||
Series 2015 | ||||
09/01/2031 | 5.000% | 1,000,000 | 1,149,447 | |
09/01/2033 | 5.000% | 1,250,000 | 1,435,964 | |
Total | 176,527,965 | |||
Colorado 3.0% | ||||
City & County of Denver Airport System | ||||
Prerefunded 11/15/22 Revenue Bonds | ||||
Series 2012B | ||||
11/15/2032 | 5.000% | 10,000,000 | 10,492,126 | |
Colorado Health Facilities Authority | ||||
Prerefunded 06/01/27 Revenue Bonds | ||||
Evangelical Lutheran Good Samaritan Society | ||||
Series 2017 | ||||
06/01/2030 | 5.000% | 2,000,000 | 2,439,225 | |
Prerefunded 12/01/22 Revenue Bonds | ||||
Covenant Retirement Communities | ||||
Series 2012A | ||||
12/01/2027 | 5.000% | 4,000,000 | 4,207,246 | |
Refunding Revenue Bonds | ||||
Covenant Retirement Communities | ||||
Series 2015 | ||||
12/01/2026 | 5.000% | 1,860,000 | 2,118,894 | |
12/01/2028 | 5.000% | 1,000,000 | 1,128,636 | |
12/01/2030 | 5.000% | 1,400,000 | 1,569,543 |
Columbia Intermediate Municipal Bond Fund | Annual Report 2021 | 9 |
October 31, 2021
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
E-470 Public Highway Authority | ||||
Refunding Revenue Bonds | ||||
Series 2020A | ||||
09/01/2036 | 5.000% | 1,200,000 | 1,529,726 | |
Park Creek Metropolitan District | ||||
Refunding Tax Allocation Bonds | ||||
Limited Property Tax | ||||
Series 2015 | ||||
12/01/2032 | 5.000% | 1,500,000 | 1,719,617 | |
Regional Transportation District | ||||
Certificate of Participation | ||||
Series 2015 | ||||
06/01/2027 | 5.000% | 2,925,000 | 3,344,914 | |
University of Colorado Hospital Authority | ||||
Revenue Bonds | ||||
Series 2012A | ||||
11/15/2027 | 5.000% | 3,750,000 | 3,932,817 | |
Total | 32,482,744 | |||
Connecticut 0.3% | ||||
State of Connecticut | ||||
Unlimited General Obligation Bonds | ||||
Series 2019A | ||||
04/15/2036 | 5.000% | 2,200,000 | 2,742,064 | |
District of Columbia 4.1% | ||||
District of Columbia | ||||
Refunding Revenue Bonds | ||||
Children’s Hospital | ||||
Series 2015 | ||||
07/15/2030 | 5.000% | 3,000,000 | 3,504,733 | |
Friendship Public Charter School | ||||
Series 2016 | ||||
06/01/2036 | 5.000% | 3,700,000 | 4,170,679 | |
Metropolitan Washington Airports Authority(a) | ||||
Refunding Revenue Bonds | ||||
Forward Delivery | ||||
Series 2020A | ||||
10/01/2030 | 5.000% | 2,500,000 | 3,184,422 | |
Metropolitan Washington Airports Authority Dulles Toll Road | ||||
Refunding Revenue Bonds | ||||
Dulles Metrorail | ||||
Subordinated Series 2019 | ||||
10/01/2034 | 5.000% | 1,000,000 | 1,237,567 | |
Metropolitan Washington Airports Authority Dulles Toll Road(d) | ||||
Revenue Bonds | ||||
Capital Appreciation-2nd Senior Lien | ||||
Series 2009B (AGM) | ||||
10/01/2024 | 0.000% | 20,980,000 | 20,496,233 | |
10/01/2025 | 0.000% | 7,500,000 | 7,173,854 | |
10/01/2026 | 0.000% | 5,000,000 | 4,685,696 | |
Total | 44,453,184 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Florida 5.6% | ||||
City of Tampa(d) | ||||
Revenue Bonds | ||||
Capital Appreciation | ||||
Series 2020A | ||||
09/01/2034 | 0.000% | 650,000 | 459,405 | |
County of Broward Airport System(a) | ||||
Revenue Bonds | ||||
Series 2019A | ||||
10/01/2038 | 5.000% | 2,250,000 | 2,767,821 | |
County of Miami-Dade Aviation | ||||
Refunding Revenue Bonds | ||||
Series 2014B | ||||
10/01/2032 | 5.000% | 6,620,000 | 7,461,699 | |
County of Miami-Dade Rickenbacker Causeway | ||||
Revenue Bonds | ||||
Series 2014 | ||||
10/01/2033 | 5.000% | 1,215,000 | 1,352,695 | |
County of Osceola Transportation(d) | ||||
Refunding Revenue Bonds | ||||
Series 2020A-2 | ||||
10/01/2034 | 0.000% | 1,850,000 | 1,307,875 | |
Series 2020A-2 (AGM) | ||||
10/01/2030 | 0.000% | 1,200,000 | 992,387 | |
Florida Development Finance Corp.(b) | ||||
Refunding Revenue Bonds | ||||
Renaissance Charter School, Inc. Projects | ||||
Series 2020 | ||||
09/15/2030 | 4.000% | 470,000 | 505,328 | |
Florida Municipal Power Agency | ||||
Refunding Revenue Bonds | ||||
Series 2016A | ||||
10/01/2030 | 5.000% | 2,750,000 | 3,281,987 | |
Hillsborough County Aviation Authority | ||||
Revenue Bonds | ||||
Tampa International Airport | ||||
Subordinated Series 2015B | ||||
10/01/2031 | 5.000% | 1,600,000 | 1,809,897 | |
10/01/2032 | 5.000% | 2,300,000 | 2,598,863 | |
Mid-Bay Bridge Authority | ||||
Refunding Revenue Bonds | ||||
Series 2015A | ||||
10/01/2030 | 5.000% | 2,150,000 | 2,434,977 | |
Orange County School Board | ||||
Prerefunded 08/01/22 Certificate of Participation | ||||
Series 2012B | ||||
08/01/2026 | 5.000% | 6,500,000 | 6,733,752 | |
Refunding Certificate of Participation | ||||
Series 2016C | ||||
08/01/2033 | 5.000% | 5,000,000 | 5,931,768 |
10 | Columbia Intermediate Municipal Bond Fund | Annual Report 2021 |
October 31, 2021
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Palm Beach County Health Facilities Authority | ||||
Revenue Bonds | ||||
Lifespace Communities, Inc. | ||||
Series 2018 | ||||
05/15/2036 | 5.000% | 1,550,000 | 1,782,010 | |
05/15/2037 | 5.000% | 1,500,000 | 1,721,991 | |
Pasco County School Board | ||||
Refunding Certificate of Participation | ||||
Series 2015A | ||||
08/01/2026 | 5.000% | 4,620,000 | 5,345,589 | |
08/01/2027 | 5.000% | 2,500,000 | 2,887,613 | |
School Board of Miami-Dade County (The) | ||||
Refunding Certificate of Participation | ||||
Series 2015A | ||||
05/01/2030 | 5.000% | 2,500,000 | 2,860,324 | |
Seminole County Industrial Development Authority | ||||
Refunding Revenue Bonds | ||||
Legacy Pointe at UCF Project | ||||
Series 2019 | ||||
11/15/2025 | 3.750% | 3,000,000 | 3,012,486 | |
Southeast Overtown Park West Community Redevelopment Agency(b) | ||||
Tax Allocation Bonds | ||||
Series 2014A-1 | ||||
03/01/2030 | 5.000% | 2,925,000 | 3,168,830 | |
Sterling Hill Community Development District(e) | ||||
Special Assessment Bonds | ||||
Series 2003B | ||||
11/01/2010 | 0.000% | 137,787 | 82,672 | |
Volusia County Educational Facility Authority | ||||
Revenue Bonds | ||||
Series 2015B | ||||
10/15/2030 | 5.000% | 1,510,000 | 1,716,476 | |
Total | 60,216,445 | |||
Georgia 1.4% | ||||
City of Atlanta Department of Aviation | ||||
Refunding Revenue Bonds | ||||
General - Subordinated Lien | ||||
Series 2014 | ||||
01/01/2032 | 5.000% | 2,000,000 | 2,193,873 | |
City of Atlanta Department of Aviation(a) | ||||
Refunding Revenue Bonds | ||||
Series 2021C | ||||
07/01/2039 | 4.000% | 3,400,000 | 3,978,406 | |
Fulton County Development Authority | ||||
Refunding Revenue Bonds | ||||
Spelman College | ||||
Series 2015 | ||||
06/01/2032 | 5.000% | 3,630,000 | 4,121,297 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Gainesville & Hall County Development Authority | ||||
Refunding Revenue Bonds | ||||
Riverside Military Academy | ||||
Series 2017 | ||||
03/01/2037 | 5.000% | 2,000,000 | 2,008,217 | |
Georgia State Road & Tollway Authority(b),(d) | ||||
Prerefunded 06/01/24 Revenue Bonds | ||||
I-75 S Express Lanes Project | ||||
Series 2014 | ||||
06/01/2034 | 0.000% | 3,750,000 | 1,999,226 | |
Revenue Bonds | ||||
I-75 S Express Lanes Project | ||||
Series 2014 Escrowed to Maturity | ||||
06/01/2024 | 0.000% | 435,000 | 406,517 | |
Total | 14,707,536 | |||
Idaho 0.2% | ||||
Idaho Health Facilities Authority | ||||
Revenue Bonds | ||||
Terraces of Boise Project | ||||
Series 2021 | ||||
10/01/2031 | 3.800% | 2,100,000 | 2,084,560 | |
Illinois 9.9% | ||||
Chicago Board of Education | ||||
Unlimited General Obligation Bonds | ||||
Series 2021A | ||||
12/01/2038 | 5.000% | 1,200,000 | 1,466,496 | |
Chicago Midway International Airport | ||||
Refunding Revenue Bonds | ||||
2nd Lien | ||||
Series 2014B | ||||
01/01/2029 | 5.000% | 6,150,000 | 6,727,963 | |
Chicago O’Hare International Airport | ||||
General Obligation Refunding Bonds | ||||
Senior Lien | ||||
Series 2016B | ||||
01/01/2033 | 5.000% | 2,000,000 | 2,331,565 | |
Refunding Revenue Bonds | ||||
General Senior Lien | ||||
Series 2013B | ||||
01/01/2028 | 5.250% | 11,180,000 | 11,812,508 | |
City of Chicago | ||||
Unlimited General Obligation Bonds | ||||
Series 2015A | ||||
01/01/2023 | 5.000% | 5,000,000 | 5,255,008 | |
City of Chicago Wastewater Transmission | ||||
Refunding Revenue Bonds | ||||
2nd Lien | ||||
Series 2017B | ||||
01/01/2033 | 5.000% | 2,500,000 | 2,971,322 |
Columbia Intermediate Municipal Bond Fund | Annual Report 2021 | 11 |
October 31, 2021
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
City of Chicago Waterworks | ||||
Refunding Revenue Bonds | ||||
2nd Lien | ||||
Series 2016 | ||||
11/01/2027 | 5.000% | 1,250,000 | 1,503,536 | |
Illinois Finance Authority | ||||
Refunding Revenue Bonds | ||||
Rush University Medical Center | ||||
Series 2015A | ||||
11/15/2032 | 5.000% | 10,000,000 | 11,416,971 | |
University of Chicago | ||||
Series 2021A | ||||
10/01/2038 | 5.000% | 1,400,000 | 2,066,462 | |
Illinois Municipal Electric Agency | ||||
Refunding Revenue Bonds | ||||
Series 2015A | ||||
02/01/2030 | 5.000% | 12,060,000 | 13,949,222 | |
Illinois State Toll Highway Authority | ||||
Revenue Bonds | ||||
Series 2014C | ||||
01/01/2032 | 5.000% | 9,600,000 | 10,896,638 | |
Unrefunded Revenue Bonds | ||||
Series 2016A | ||||
12/01/2031 | 4.000% | 5,000,000 | 5,615,878 | |
Kane Cook & DuPage Counties School District No. U-46 Elgin | ||||
Unlimited General Obligation Refunding Bonds | ||||
Series 2015D | ||||
01/01/2032 | 5.000% | 1,800,000 | 1,972,435 | |
01/01/2033 | 5.000% | 2,000,000 | 2,190,684 | |
Metropolitan Pier & Exposition Authority(c) | ||||
Refunding Revenue Bonds | ||||
McCormick Place Expansion | ||||
Series 2022 | ||||
12/15/2042 | 4.000% | 2,000,000 | 2,249,451 | |
Railsplitter Tobacco Settlement Authority | ||||
Revenue Bonds | ||||
Series 2017 | ||||
06/01/2027 | 5.000% | 2,185,000 | 2,566,767 | |
State of Illinois | ||||
Unlimited General Obligation Bonds | ||||
Series 2013 | ||||
07/01/2026 | 5.500% | 10,100,000 | 10,918,929 | |
Series 2014 | ||||
02/01/2031 | 5.250% | 5,000,000 | 5,487,422 | |
Series 2020C | ||||
05/01/2030 | 5.500% | 1,500,000 | 1,917,820 | |
Series 2021A | ||||
03/01/2038 | 4.000% | 3,000,000 | 3,401,941 | |
Total | 106,719,018 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Indiana 1.1% | ||||
City of Indianapolis Thermal Energy System | ||||
Refunding Revenue Bonds | ||||
1st Lien | ||||
Series 2014A | ||||
10/01/2032 | 5.000% | 1,400,000 | 1,572,726 | |
City of Whiting(a) | ||||
Refunding Revenue Bonds | ||||
BP Products North America | ||||
Series 2019 (Mandatory Put 06/05/26) | ||||
12/01/2044 | 5.000% | 1,600,000 | 1,899,969 | |
Indiana Municipal Power Agency | ||||
Revenue Bonds | ||||
Series 2019A | ||||
01/01/2037 | 5.000% | 6,990,000 | 8,667,228 | |
Total | 12,139,923 | |||
Iowa 0.3% | ||||
PEFA, Inc. | ||||
Revenue Bonds | ||||
Series 2019 (Mandatory Put 09/01/26) | ||||
09/01/2049 | 5.000% | 3,000,000 | 3,546,128 | |
Kentucky 0.4% | ||||
Kentucky Municipal Power Agency | ||||
Refunding Revenue Bonds | ||||
Series 2015A | ||||
09/01/2029 | 5.000% | 4,000,000 | 4,617,536 | |
Maryland 1.7% | ||||
County of Anne Arundel | ||||
Limited General Obligation Bonds | ||||
Consolidated General Improvements | ||||
Series 2019 | ||||
10/01/2031 | 5.000% | 3,500,000 | 4,517,518 | |
Maryland Economic Development Corp. | ||||
Tax Allocation Bonds | ||||
Port Covington Project | ||||
Series 2020 | ||||
09/01/2030 | 3.250% | 500,000 | 546,961 | |
Maryland Health & Higher Educational Facilities Authority | ||||
Refunding Revenue Bonds | ||||
Meritus Medical Center Issue | ||||
Series 2015 | ||||
07/01/2028 | 5.000% | 1,300,000 | 1,485,982 | |
State of Maryland | ||||
Unlimited General Obligation Refunding Bonds | ||||
Series 2017B | ||||
08/01/2026 | 5.000% | 10,000,000 | 12,033,682 | |
Total | 18,584,143 |
12 | Columbia Intermediate Municipal Bond Fund | Annual Report 2021 |
October 31, 2021
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Massachusetts 4.3% | ||||
Commonwealth of Massachusetts | ||||
Limited General Obligation Bonds | ||||
Series 2018A | ||||
01/01/2035 | 5.000% | 10,000,000 | 12,273,935 | |
Massachusetts Bay Transportation Authority(d) | ||||
Refunding Revenue Bonds | ||||
Series 2016A | ||||
07/01/2029 | 0.000% | 3,500,000 | 3,076,884 | |
Massachusetts Development Finance Agency | ||||
Refunding Revenue Bonds | ||||
Emerson College | ||||
Series 2017A | ||||
01/01/2034 | 5.000% | 1,000,000 | 1,190,391 | |
Lahey Clinic Obligation | ||||
Series 2015F | ||||
08/15/2031 | 5.000% | 2,490,000 | 2,860,237 | |
08/15/2032 | 5.000% | 4,120,000 | 4,727,630 | |
08/15/2033 | 5.000% | 3,000,000 | 3,438,834 | |
Simmons University | ||||
Series 2018L | ||||
10/01/2034 | 5.000% | 2,390,000 | 2,876,532 | |
10/01/2035 | 5.000% | 2,000,000 | 2,404,297 | |
Revenue Bonds | ||||
UMass Boston Student Housing Project | ||||
Series 2016 | ||||
10/01/2032 | 5.000% | 1,300,000 | 1,471,225 | |
10/01/2036 | 5.000% | 4,600,000 | 5,171,599 | |
Massachusetts Development Finance Agency(b) | ||||
Refunding Revenue Bonds | ||||
Newbridge Charles, Inc. | ||||
Series 2017 | ||||
10/01/2032 | 4.000% | 2,000,000 | 2,144,996 | |
Revenue Bonds | ||||
Linden Ponds, Inc. Facility | ||||
Series 2018 | ||||
11/15/2033 | 5.000% | 975,000 | 1,085,648 | |
Massachusetts Health & Educational Facilities Authority | ||||
Revenue Bonds | ||||
Boston College | ||||
Series 2008M-1 | ||||
06/01/2024 | 5.500% | 2,670,000 | 3,022,896 | |
Total | 45,745,104 | |||
Michigan 2.0% | ||||
City of Detroit | ||||
Unlimited General Obligation Bonds | ||||
Social Bonds | ||||
Series 2021A | ||||
04/01/2038 | 5.000% | 750,000 | 911,375 | |
04/01/2039 | 5.000% | 600,000 | 727,345 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Michigan Finance Authority | ||||
Refunding Revenue Bonds | ||||
Senior Lien - Great Lakes Water Authority | ||||
Series 2014C-6 | ||||
07/01/2033 | 5.000% | 800,000 | 892,464 | |
Series 2014H-1 | ||||
10/01/2026 | 5.000% | 3,300,000 | 3,722,302 | |
Revenue Bonds | ||||
Local Government Loan Program - Great Lakes Water Authority | ||||
Series 2015 | ||||
07/01/2033 | 5.000% | 5,000,000 | 5,745,231 | |
Senior Lien - Great Lakes Water Authority | ||||
Series 2014C-3 (AGM) | ||||
07/01/2032 | 5.000% | 1,000,000 | 1,116,145 | |
Royal Oak Hospital Finance Authority | ||||
Refunding Revenue Bonds | ||||
William Beaumont Hospital | ||||
Series 2014D | ||||
09/01/2032 | 5.000% | 4,075,000 | 4,494,663 | |
Wayne County Airport Authority | ||||
Revenue Bonds | ||||
Detroit Metro | ||||
Series 2018 | ||||
12/01/2036 | 5.000% | 3,205,000 | 3,981,608 | |
Total | 21,591,133 | |||
Minnesota 2.0% | ||||
City of Maple Grove | ||||
Refunding Revenue Bonds | ||||
Maple Grove Hospital Corp. | ||||
Series 2017 | ||||
05/01/2029 | 5.000% | 2,720,000 | 3,250,541 | |
City of St. Cloud | ||||
Refunding Revenue Bonds | ||||
CentraCare Health System | ||||
Series 2016A | ||||
05/01/2027 | 5.000% | 1,785,000 | 2,110,339 | |
City of Wayzata | ||||
Refunding Revenue Bonds | ||||
Folkstone Senior Living Co. | ||||
Series 2019 | ||||
08/01/2033 | 5.000% | 150,000 | 161,898 | |
08/01/2034 | 5.000% | 125,000 | 134,811 | |
08/01/2035 | 5.000% | 140,000 | 150,872 | |
County of Rice(b) | ||||
Revenue Bonds | ||||
Shattuck-St. Mary’s School | ||||
Series 2015A Escrowed to Maturity | ||||
08/01/2022 | 5.000% | 720,000 | 745,504 |
Columbia Intermediate Municipal Bond Fund | Annual Report 2021 | 13 |
October 31, 2021
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Duluth Economic Development Authority | ||||
Revenue Bonds | ||||
Benedictine Health System | ||||
Series 2021 | ||||
07/01/2036 | 4.000% | 3,000,000 | 3,218,841 | |
Housing & Redevelopment Authority of The City of St. Paul | ||||
Refunding Revenue Bonds | ||||
Fairview Health Services | ||||
Series 2017 | ||||
11/15/2029 | 5.000% | 1,050,000 | 1,274,473 | |
HealthPartners Obligation Group | ||||
Series 2015 | ||||
07/01/2028 | 5.000% | 6,400,000 | 7,373,939 | |
Watertown-Mayer Independent School District No. 111(d) | ||||
Unlimited General Obligation Bonds | ||||
Series 2020A | ||||
02/01/2030 | 0.000% | 2,475,000 | 2,153,262 | |
Woodbury Housing & Redevelopment Authority | ||||
Revenue Bonds | ||||
St. Therese of Woodbury | ||||
Series 2014 | ||||
12/01/2034 | 5.000% | 1,000,000 | 1,044,011 | |
Total | 21,618,491 | |||
Mississippi 0.5% | ||||
County of Warren | ||||
Refunding Revenue Bonds | ||||
International Paper Co. Project | ||||
Series 2020 (Mandatory Put 06/16/25) | ||||
05/01/2034 | 1.375% | 1,625,000 | 1,662,805 | |
State of Mississippi | ||||
Revenue Bonds | ||||
Series 2015E | ||||
10/15/2029 | 5.000% | 3,500,000 | 4,021,268 | |
Total | 5,684,073 | |||
Missouri 2.3% | ||||
Health & Educational Facilities Authority of the State of Missouri | ||||
Refunding Revenue Bonds | ||||
CoxHealth | ||||
Series 2015A | ||||
11/15/2028 | 5.000% | 6,210,000 | 7,129,557 | |
Revenue Bonds | ||||
Lutheran Senior Services | ||||
Series 2014 | ||||
02/01/2026 | 5.000% | 1,300,000 | 1,410,998 | |
02/01/2029 | 5.000% | 5,975,000 | 6,444,945 | |
Kansas City Industrial Development Authority(a) | ||||
Revenue Bonds | ||||
Kansas City International Airport | ||||
Series 2019 (AGM) | ||||
03/01/2035 | 5.000% | 3,000,000 | 3,663,645 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Kirkwood Industrial Development Authority | ||||
Refunding Revenue Bonds | ||||
Aberdeen Heights Project | ||||
Series 2017 | ||||
05/15/2037 | 5.250% | 2,695,000 | 2,997,793 | |
Missouri Joint Municipal Electric Utility Commission | ||||
Refunding Revenue Bonds | ||||
Prairie State Project | ||||
Series 2015A | ||||
12/01/2029 | 5.000% | 2,000,000 | 2,302,850 | |
St. Louis County Industrial Development Authority | ||||
Refunding Revenue Bonds | ||||
St. Andrew’s Resources for Seniors Obligated Group | ||||
Series 2015 | ||||
12/01/2025 | 5.000% | 1,005,000 | 1,073,887 | |
Total | 25,023,675 | |||
Nebraska 1.3% | ||||
Public Power Generation Agency | ||||
Refunding Revenue Bonds | ||||
Whelan Energy Center Unit | ||||
Series 2015 | ||||
01/01/2027 | 5.000% | 11,865,000 | 13,425,251 | |
Nevada 0.6% | ||||
City of Carson City | ||||
Prerefunded 09/01/22 Revenue Bonds | ||||
Carson Tahoe Regional Medical Center | ||||
Series 2012 | ||||
09/01/2027 | 5.000% | 3,250,000 | 3,373,738 | |
Refunding Revenue Bonds | ||||
Carson Tahoe Regional Medical Center | ||||
Series 2017 | ||||
09/01/2031 | 5.000% | 1,000,000 | 1,190,853 | |
09/01/2033 | 5.000% | 1,000,000 | 1,186,768 | |
State of Nevada Department of Business & Industry(b) | ||||
Revenue Bonds | ||||
Somerset Academy | ||||
Series 2018A | ||||
12/15/2029 | 4.500% | 660,000 | 722,456 | |
Total | 6,473,815 | |||
New Jersey 3.8% | ||||
Essex County Improvement Authority | ||||
Refunding Revenue Bonds | ||||
County Guaranteed Project Consolidation | ||||
Series 2004 (NPFGC) | ||||
10/01/2026 | 5.500% | 750,000 | 925,404 | |
Hudson County Improvement Authority | ||||
Refunding Revenue Bonds | ||||
Hudson County Lease Project | ||||
Series 2010 (AGM) | ||||
10/01/2024 | 5.375% | 2,000,000 | 2,283,426 |
14 | Columbia Intermediate Municipal Bond Fund | Annual Report 2021 |
October 31, 2021
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
New Jersey Economic Development Authority | ||||
Revenue Bonds | ||||
Self-Designated Social Bonds | ||||
Series 2021 | ||||
06/15/2038 | 4.000% | 600,000 | 691,300 | |
Transportation Project | ||||
Series 2020 | ||||
11/01/2036 | 5.000% | 5,000,000 | 6,154,531 | |
New Jersey Transportation Trust Fund Authority(d) | ||||
Capital Appreciation Revenue Bonds | ||||
Transportation System | ||||
Series 2006C (AGM) | ||||
12/15/2029 | 0.000% | 3,060,000 | 2,662,057 | |
New Jersey Transportation Trust Fund Authority(c) | ||||
Refunding Revenue Bonds | ||||
Series 2022AA | ||||
06/15/2038 | 5.000% | 1,000,000 | 1,243,509 | |
New Jersey Transportation Trust Fund Authority | ||||
Refunding Revenue Bonds | ||||
Transportation System | ||||
Series 2018A | ||||
12/15/2034 | 5.000% | 1,500,000 | 1,830,430 | |
Revenue Bonds | ||||
Series 2020AA | ||||
06/15/2038 | 4.000% | 1,000,000 | 1,152,167 | |
Transportation Program | ||||
Series 2019 | ||||
06/15/2037 | 5.000% | 4,465,000 | 5,418,010 | |
Transportation System | ||||
Series 2006A (AGM) | ||||
12/15/2022 | 5.250% | 4,000,000 | 4,222,940 | |
New Jersey Turnpike Authority | ||||
Refunding Revenue Bonds | ||||
Series 2017E | ||||
01/01/2029 | 5.000% | 1,500,000 | 1,856,722 | |
Series 2017G | ||||
01/01/2035 | 5.000% | 6,000,000 | 7,360,356 | |
Robbinsville Board of Education | ||||
Unlimited General Obligation Refunding Bonds | ||||
Series 2005 (AGM) | ||||
01/01/2028 | 5.250% | 500,000 | 626,877 | |
State of New Jersey | ||||
Unlimited General Obligation Bonds | ||||
COVID-19 Emergency Bonds | ||||
Series 2020 | ||||
06/01/2030 | 4.000% | 2,000,000 | 2,403,326 | |
Tobacco Settlement Financing Corp. | ||||
Refunding Revenue Bonds | ||||
Series 2018A | ||||
06/01/2034 | 5.000% | 2,000,000 | 2,401,248 | |
Total | 41,232,303 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
New Mexico 0.3% | ||||
County of Bernalillo | ||||
Refunding Revenue Bonds | ||||
Series 1998 | ||||
04/01/2027 | 5.250% | 3,000,000 | 3,402,372 | |
New York 5.6% | ||||
Buffalo & Erie County Industrial Land Development Corp. | ||||
Revenue Bonds | ||||
Catholic Health System | ||||
Series 2015 | ||||
07/01/2025 | 5.000% | 1,000,000 | 1,129,318 | |
County of Nassau | ||||
Prerefunded 04/01/24 Limited General Obligation Bonds | ||||
Series 2014A | ||||
04/01/2027 | 5.000% | 8,000,000 | 8,904,779 | |
Hudson Yards Infrastructure Corp. | ||||
Refunding Revenue Bonds | ||||
Series 2017A | ||||
02/15/2034 | 5.000% | 5,000,000 | 5,963,211 | |
Long Island Power Authority | ||||
Revenue Bonds | ||||
Series 2012B | ||||
09/01/2026 | 5.000% | 5,000,000 | 5,196,699 | |
New York City Transitional Finance Authority | ||||
Refunding Revenue Bonds | ||||
Future Tax Secured | ||||
Subordinated Series 2020 | ||||
11/01/2038 | 4.000% | 1,000,000 | 1,170,303 | |
Revenue Bonds | ||||
Future Tax Secured | ||||
Subordinated Series 2020 | ||||
05/01/2039 | 4.000% | 2,000,000 | 2,334,996 | |
Subordinated Series 2020D | ||||
11/01/2039 | 4.000% | 3,500,000 | 4,086,243 | |
New York State Dormitory Authority | ||||
Refunding Revenue Bonds | ||||
Group 2 | ||||
Series 2020A | ||||
03/15/2037 | 4.000% | 5,000,000 | 5,902,466 | |
Memorial Sloan-Kettering Cancer Center | ||||
Series 2017 | ||||
07/01/2035 | 4.000% | 1,500,000 | 1,720,895 | |
North Shore - Long Island Jewish Obligation Group | ||||
Series 2015A | ||||
05/01/2031 | 5.000% | 9,830,000 | 11,221,184 | |
Revenue Bonds | ||||
St. John’s University | ||||
Series 2007C (NPFGC) | ||||
07/01/2023 | 5.250% | 3,245,000 | 3,514,215 |
Columbia Intermediate Municipal Bond Fund | Annual Report 2021 | 15 |
October 31, 2021
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
New York State Urban Development Corp. | ||||
Revenue Bonds | ||||
Series 2020A | ||||
03/15/2038 | 4.000% | 2,000,000 | 2,355,756 | |
New York Transportation Development Corp.(a) | ||||
Revenue Bonds | ||||
New York State Thruway Service Areas Project | ||||
Series 2021 | ||||
10/31/2041 | 4.000% | 570,000 | 650,610 | |
Port Authority of New York & New Jersey(a) | ||||
Refunding Revenue Bonds | ||||
Series 2021-226 | ||||
10/15/2039 | 5.000% | 2,500,000 | 3,171,145 | |
Revenue Bonds | ||||
Consolidated Bonds | ||||
Series 221 | ||||
07/15/2038 | 4.000% | 2,000,000 | 2,321,628 | |
Troy Capital Resource Corp. | ||||
Refunding Revenue Bonds | ||||
Forward Delivery - Rensselaer Polytechnic Institute Project | ||||
Series 2020 | ||||
09/01/2030 | 5.000% | 500,000 | 642,223 | |
Total | 60,285,671 | |||
North Carolina 1.9% | ||||
North Carolina Capital Facilities Finance Agency | ||||
Refunding Revenue Bonds | ||||
The Arc of North Carolina | ||||
Series 2017 | ||||
10/01/2034 | 5.000% | 2,325,000 | 2,734,868 | |
North Carolina Medical Care Commission | ||||
Refunding Revenue Bonds | ||||
Presbyterian Homes | ||||
Series 2016C | ||||
10/01/2031 | 4.000% | 1,000,000 | 1,090,457 | |
Sharon Towers | ||||
Series 2019A | ||||
07/01/2029 | 4.000% | 1,970,000 | 2,164,818 | |
United Methodist Retirement | ||||
Series 2017 | ||||
10/01/2037 | 5.000% | 1,100,000 | 1,194,067 | |
North Carolina Municipal Power Agency No. 1 | ||||
Refunding Revenue Bonds | ||||
Series 2015A | ||||
01/01/2031 | 5.000% | 2,000,000 | 2,305,396 | |
State of North Carolina | ||||
Refunding Revenue Bonds | ||||
Series 2014B | ||||
06/01/2025 | 5.000% | 5,000,000 | 5,804,199 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
University of North Carolina at Greensboro | ||||
Refunding Revenue Bonds | ||||
General | ||||
Series 2017 | ||||
04/01/2035 | 4.000% | 1,200,000 | 1,374,072 | |
04/01/2036 | 4.000% | 1,000,000 | 1,138,927 | |
University of North Carolina at Wilmington | ||||
Refunding Revenue Bonds | ||||
Student Housing Projects | ||||
Series 2016 | ||||
06/01/2031 | 4.000% | 2,040,000 | 2,298,790 | |
Total | 20,105,594 | |||
Ohio 0.2% | ||||
Buckeye Tobacco Settlement Financing Authority | ||||
Refunded Revenue Bonds | ||||
Series 2020A-2 Class 1 | ||||
06/01/2038 | 4.000% | 1,875,000 | 2,138,499 | |
Oklahoma 0.5% | ||||
Norman Regional Hospital Authority | ||||
Refunding Revenue Bonds | ||||
Series 2016 | ||||
09/01/2027 | 5.000% | 2,000,000 | 2,371,136 | |
Oklahoma Development Finance Authority(a) | ||||
Revenue Bonds | ||||
Gilcrease Expressway West Project | ||||
Series 2020 | ||||
07/06/2023 | 1.625% | 3,000,000 | 3,020,422 | |
Total | 5,391,558 | |||
Oregon 0.6% | ||||
Hospital Facilities Authority of Multnomah County | ||||
Refunding Revenue Bonds | ||||
Mirabella at South Waterfront | ||||
Series 2014A | ||||
10/01/2034 | 5.125% | 1,000,000 | 1,074,182 | |
Multnomah & Clackamas Counties School District No. 10JT Gresham-Barlow(d) | ||||
Unlimited General Obligation Bonds | ||||
Series 2017A | ||||
06/15/2033 | 0.000% | 7,160,000 | 5,154,724 | |
Total | 6,228,906 | |||
Pennsylvania 2.9% | ||||
Commonwealth Financing Authority | ||||
Revenue Bonds | ||||
Tobacco Master Settlement Payment | ||||
Series 2018 | ||||
06/01/2029 | 5.000% | 1,500,000 | 1,848,837 |
16 | Columbia Intermediate Municipal Bond Fund | Annual Report 2021 |
October 31, 2021
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Cumberland County Municipal Authority | ||||
Prerefunded 01/01/25 Revenue Bonds | ||||
Diakon Lutheran Social Ministries Project | ||||
Series 2015 | ||||
01/01/2027 | 5.000% | 310,000 | 353,191 | |
01/01/2028 | 5.000% | 495,000 | 563,966 | |
Refunding Revenue Bonds | ||||
Diakon Lutheran Social Ministries Project | ||||
Series 2015 | ||||
01/01/2027 | 5.000% | 2,190,000 | 2,450,471 | |
01/01/2028 | 5.000% | 3,345,000 | 3,717,446 | |
Delaware River Joint Toll Bridge Commission | ||||
Revenue Bonds | ||||
Series 2017 | ||||
07/01/2033 | 5.000% | 2,250,000 | 2,713,438 | |
Delaware River Port Authority | ||||
Refunding Revenue Bonds | ||||
Port District Project | ||||
Series 2012 | ||||
01/01/2027 | 5.000% | 1,835,000 | 1,931,504 | |
Revenue Bonds | ||||
Series 2018A | ||||
01/01/2036 | 5.000% | 2,000,000 | 2,480,795 | |
Lancaster County Solid Waste Management Authority | ||||
Revenue Bonds | ||||
Series 2013A | ||||
12/15/2029 | 5.250% | 3,100,000 | 3,421,398 | |
Northampton County General Purpose Authority | ||||
Refunding Revenue Bonds | ||||
St. Luke’s University Health Network | ||||
Series 2016 | ||||
08/15/2026 | 5.000% | 3,770,000 | 4,508,353 | |
Pennsylvania Economic Development Financing Authority | ||||
Refunding Revenue Bonds | ||||
Philadelphia Biosolids Facility Project | ||||
Series 2020 | ||||
01/01/2030 | 4.000% | 1,275,000 | 1,467,474 | |
Pennsylvania Turnpike Commission | ||||
Refunding Revenue Bonds | ||||
Series 2021A | ||||
12/01/2038 | 4.000% | 2,660,000 | 3,124,477 | |
Revenue Bonds | ||||
Series 2018A-2 | ||||
12/01/2036 | 5.000% | 2,500,000 | 3,111,499 | |
Total | 31,692,849 | |||
Rhode Island 0.1% | ||||
Rhode Island Turnpike & Bridge Authority | ||||
Refunding Revenue Bonds | ||||
Series 2016A | ||||
10/01/2033 | 5.000% | 1,300,000 | 1,524,525 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
South Carolina 3.5% | ||||
Beaufort-Jasper Water & Sewer Authority | ||||
Refunding Revenue Bonds | ||||
Series 2016B | ||||
03/01/2025 | 5.000% | 1,000,000 | 1,150,072 | |
County of Florence | ||||
Refunding Revenue Bonds | ||||
McLeod Regional Medical Center Project | ||||
Series 2014 | ||||
11/01/2031 | 5.000% | 3,250,000 | 3,651,343 | |
11/01/2032 | 5.000% | 5,000,000 | 5,609,535 | |
South Carolina Jobs-Economic Development Authority | ||||
Prerefunded 11/01/24 Revenue Bonds | ||||
York Preparatory Academy Project | ||||
Series 2014A | ||||
11/01/2033 | 7.000% | 590,000 | 702,006 | |
Refunding Revenue Bonds | ||||
Prisma Health Obligated Group | ||||
Series 2018 | ||||
05/01/2036 | 5.000% | 7,000,000 | 8,461,188 | |
Revenue Bonds | ||||
Lutheran Homes of South Carolina Obligation Group | ||||
Series 2013 | ||||
05/01/2028 | 5.000% | 3,500,000 | 3,602,777 | |
Wofford College Project | ||||
Series 2019 | ||||
04/01/2038 | 5.000% | 930,000 | 1,127,114 | |
South Carolina Jobs-Economic Development Authority(b) | ||||
Revenue Bonds | ||||
Series 2015A | ||||
08/15/2025 | 4.500% | 345,000 | 368,255 | |
South Carolina Public Service Authority | ||||
Refunding Revenue Bonds | ||||
Series 2015A | ||||
12/01/2026 | 5.000% | 7,000,000 | 8,054,364 | |
Series 2016A | ||||
12/01/2030 | 5.000% | 4,000,000 | 4,698,436 | |
Total | 37,425,090 | |||
South Dakota 0.6% | ||||
South Dakota Health & Educational Facilities Authority | ||||
Refunding Revenue Bonds | ||||
Sanford Obligated Group | ||||
Series 2015 | ||||
11/01/2026 | 5.000% | 1,000,000 | 1,167,373 | |
Revenue Bonds | ||||
Regional Health | ||||
Series 2017 | ||||
09/01/2029 | 5.000% | 1,700,000 | 2,035,033 | |
09/01/2030 | 5.000% | 2,250,000 | 2,672,552 | |
Total | 5,874,958 |
Columbia Intermediate Municipal Bond Fund | Annual Report 2021 | 17 |
October 31, 2021
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Tennessee 0.1% | ||||
Chattanooga Health Educational & Housing Facility Board | ||||
Refunding Revenue Bonds | ||||
Student Housing - CDFI Phase I | ||||
Series 2015 | ||||
10/01/2029 | 5.000% | 1,000,000 | 1,118,386 | |
Texas 14.1% | ||||
Central Texas Regional Mobility Authority | ||||
Prerefunded 07/01/25 Revenue Bonds | ||||
Senior Lien | ||||
Series 2015A | ||||
01/01/2030 | 5.000% | 1,550,000 | 1,799,919 | |
Revenue Bonds | ||||
Senior Lien | ||||
Series 2020E | ||||
01/01/2039 | 4.000% | 2,140,000 | 2,448,677 | |
Series 2021B | ||||
01/01/2038 | 5.000% | 800,000 | 1,007,730 | |
Central Texas Turnpike System | ||||
Refunding Revenue Bonds | ||||
Subordinated Series 2015C | ||||
08/15/2031 | 5.000% | 7,500,000 | 8,386,008 | |
08/15/2032 | 5.000% | 6,000,000 | 6,707,123 | |
08/15/2034 | 5.000% | 10,240,000 | 11,439,242 | |
City of Austin Airport System | ||||
Revenue Bonds | ||||
Series 2017A | ||||
11/15/2035 | 5.000% | 1,000,000 | 1,188,269 | |
City of Austin Airport System(a) | ||||
Revenue Bonds | ||||
Series 2019B | ||||
11/15/2035 | 5.000% | 2,650,000 | 3,296,989 | |
City of Garland Electric Utility System | ||||
Refunding Revenue Bonds | ||||
Series 2019 | ||||
03/01/2037 | 5.000% | 1,700,000 | 2,079,841 | |
City of Houston | ||||
Refunding Revenue Bonds | ||||
Convention & Entertainment Facilities | ||||
Series 2014 | ||||
09/01/2030 | 5.000% | 1,000,000 | 1,105,665 | |
Series 2015 | ||||
09/01/2027 | 5.000% | 1,215,000 | 1,351,014 | |
09/01/2029 | 5.000% | 1,500,000 | 1,658,974 | |
City of Houston Airport System | ||||
Refunding Revenue Bonds | ||||
Subordinated Series 2018D | ||||
07/01/2035 | 5.000% | 2,500,000 | 3,078,758 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
City of Houston Airport System(a) | ||||
Revenue Bonds | ||||
Subordinated Series 2020A | ||||
07/01/2037 | 4.000% | 3,000,000 | 3,459,600 | |
07/01/2038 | 4.000% | 3,250,000 | 3,739,789 | |
City of Houston Combined Utility System | ||||
Refunding Revenue Bonds | ||||
1st Lien | ||||
Series 2016B | ||||
11/15/2034 | 5.000% | 10,000,000 | 12,039,652 | |
Clifton Higher Education Finance Corp. | ||||
Revenue Bonds | ||||
International Leadership | ||||
Series 2015 | ||||
08/15/2035 | 5.500% | 11,500,000 | 13,072,860 | |
Dallas/Fort Worth International Airport | ||||
Refunding Revenue Bonds | ||||
Series 2020A | ||||
11/01/2034 | 4.000% | 2,000,000 | 2,358,025 | |
Series 2020B | ||||
11/01/2034 | 4.000% | 2,500,000 | 2,947,531 | |
Love Field Airport Modernization Corp.(a) | ||||
Refunding Revenue Bonds | ||||
Series 2021 (AGM) | ||||
11/01/2038 | 4.000% | 8,000,000 | 9,372,853 | |
Lower Colorado River Authority | ||||
Refunding Revenue Bonds | ||||
Forward Delivery | ||||
Series 2020 | ||||
05/15/2035 | 5.000% | 5,825,000 | 7,376,726 | |
Revenue Bonds | ||||
LCRA Transmission Services Corp. Project | ||||
Series 2019 | ||||
05/15/2038 | 5.000% | 1,500,000 | 1,859,620 | |
New Hope Cultural Education Facilities Finance Corp. | ||||
Revenue Bonds | ||||
Cardinal Bay, Inc. - Village on the Park | ||||
Series 2016 | ||||
07/01/2036 | 4.000% | 2,250,000 | 2,005,050 | |
NCCD-College Station Properties LLC | ||||
Series 2015 | ||||
07/01/2035 | 5.000% | 4,000,000 | 3,440,000 | |
Series 2015A | ||||
07/01/2030 | 5.000% | 7,800,000 | 6,708,000 | |
New Hope Cultural Education Facilities Finance Corp.(b) | ||||
Revenue Bonds | ||||
Jubilee Academic Center Project | ||||
Series 2017 | ||||
08/15/2027 | 4.250% | 615,000 | 607,948 | |
08/15/2037 | 5.000% | 530,000 | 521,511 |
18 | Columbia Intermediate Municipal Bond Fund | Annual Report 2021 |
October 31, 2021
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
North Texas Tollway Authority | ||||
Refunding Revenue Bonds | ||||
1st Tier | ||||
Series 2017A | ||||
01/01/2034 | 5.000% | 1,000,000 | 1,194,695 | |
2nd Tier | ||||
Series 2015A | ||||
01/01/2032 | 5.000% | 16,800,000 | 19,040,816 | |
System-2nd Tier | ||||
Series 2014 | ||||
01/01/2031 | 5.000% | 1,415,000 | 1,549,265 | |
North Texas Tollway Authority(d) | ||||
Refunding Revenue Bonds | ||||
Series 2008D (AGM) | ||||
01/01/2029 | 0.000% | 7,770,000 | 6,946,267 | |
Port Beaumont Navigation District(a),(b) | ||||
Refunding Revenue Bonds | ||||
Jefferson Gulf Coast Energy LLC | ||||
Series 2020 | ||||
01/01/2035 | 3.625% | 1,500,000 | 1,542,015 | |
Revenue Bonds | ||||
Jefferson Gulf Coast Energy Project | ||||
Series 2021 | ||||
01/01/2036 | 2.750% | 1,275,000 | 1,255,806 | |
Texas Municipal Gas Acquisition & Supply Corp. III | ||||
Refunding Revenue Bonds | ||||
Senior | ||||
Series 2021 | ||||
12/15/2030 | 5.000% | 500,000 | 635,715 | |
Texas Private Activity Bond Surface Transportation Corp. | ||||
Refunding Revenue Bonds | ||||
LBJ Infrastructure Group LLC I-635 Managed Lanes Project | ||||
Series 2020 | ||||
06/30/2039 | 4.000% | 300,000 | 347,548 | |
Senior Lien - North Tarrant Express | ||||
Series 2019 | ||||
12/31/2034 | 5.000% | 3,000,000 | 3,719,150 | |
Texas Transportation Commission(d) | ||||
Revenue Bonds | ||||
First Tier Toll | ||||
Series 2019 | ||||
08/01/2038 | 0.000% | 550,000 | 296,574 | |
Total | 151,585,225 | |||
Utah 0.8% | ||||
City of Salt Lake City Airport(a) | ||||
Revenue Bonds | ||||
Series 2021A | ||||
07/01/2038 | 4.000% | 5,000,000 | 5,836,855 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Salt Lake City Corp. Airport | ||||
Revenue Bonds | ||||
Series 2017B | ||||
07/01/2032 | 5.000% | 1,000,000 | 1,208,375 | |
07/01/2033 | 5.000% | 1,000,000 | 1,205,365 | |
Total | 8,250,595 | |||
Vermont 1.1% | ||||
Vermont Educational & Health Buildings Financing Agency | ||||
Refunding Revenue Bonds | ||||
University of Vermont Medical Center | ||||
Series 2016A | ||||
12/01/2033 | 5.000% | 10,000,000 | 11,756,580 | |
Virginia 0.2% | ||||
Dulles Town Center Community Development Authority | ||||
Refunding Special Assessment Bonds | ||||
Dulles Town Center Project | ||||
Series 2012 | ||||
03/01/2026 | 4.250% | 1,000,000 | 1,003,756 | |
Virginia Gateway Community Development Authority | ||||
Refunding Special Assessment Bonds | ||||
Series 2012 | ||||
03/01/2030 | 5.000% | 1,500,000 | 1,505,669 | |
Total | 2,509,425 | |||
Washington 1.7% | ||||
Energy Northwest | ||||
Refunding Revenue Bonds | ||||
Columbia Generating Station | ||||
Series 2020 | ||||
07/01/2039 | 4.000% | 2,500,000 | 2,963,516 | |
King County Public Hospital District No. 4 | ||||
Revenue Bonds | ||||
Series 2015A | ||||
12/01/2025 | 5.000% | 2,960,000 | 3,123,969 | |
12/01/2030 | 5.750% | 2,820,000 | 3,088,178 | |
Port of Seattle(a) | ||||
Revenue Bonds | ||||
Intermediate Lien | ||||
Series 2019 | ||||
04/01/2036 | 5.000% | 5,000,000 | 6,127,517 | |
Washington State Housing Finance Commission | ||||
Revenue Bonds | ||||
Heron’s Key | ||||
Series 2015A | ||||
07/01/2030 | 6.500% | 570,000 | 618,277 | |
07/01/2035 | 6.750% | 1,090,000 | 1,189,587 | |
Transforming Age Projects | ||||
Series 2019 | ||||
01/01/2026 | 2.375% | 1,500,000 | 1,501,000 | |
Total | 18,612,044 |
Columbia Intermediate Municipal Bond Fund | Annual Report 2021 | 19 |
October 31, 2021
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
West Virginia 0.4% | ||||
West Virginia Hospital Finance Authority | ||||
Revenue Bonds | ||||
Charleston Area Medical Center, Inc. | ||||
Series 1993A Escrowed to Maturity | ||||
09/01/2023 | 6.500% | 1,325,000 | 1,428,654 | |
West Virginia University(d) | ||||
Revenue Bonds | ||||
University System Project | ||||
Series 2019A (AMBAC) | ||||
04/01/2030 | 0.000% | 3,460,000 | 2,958,043 | |
Total | 4,386,697 | |||
Wisconsin 0.5% | ||||
Public Finance Authority(b) | ||||
Refunding Revenue Bonds | ||||
Mary’s Woods at Marylhurst | ||||
Series 2017 | ||||
05/15/2037 | 5.250% | 1,000,000 | 1,089,057 | |
Wisconsin Health & Educational Facilities Authority | ||||
Refunding Revenue Bonds | ||||
ProHealth Care, Inc. Obligated Group | ||||
Series 2015 | ||||
08/15/2031 | 5.000% | 1,000,000 | 1,122,264 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Rogers Memorial Hospital, Inc. | ||||
Series 2014A | ||||
07/01/2034 | 5.000% | 2,500,000 | 2,778,397 | |
Total | 4,989,718 | |||
Total Municipal Bonds (Cost $985,399,301) | 1,061,271,306 |
Money Market Funds 0.1% | ||
Shares | Value ($) | |
Dreyfus Tax Exempt Cash Management Fund, Institutional Shares, 0.010%(f) | 71,556 | 71,548 |
JPMorgan Institutional Tax Free Money Market Fund, Institutional Shares, 0.006%(f) | 940,275 | 940,275 |
Total Money Market Funds (Cost $1,011,830) | 1,011,823 | |
Total Investments in Securities (Cost $986,411,131) | 1,062,283,129 | |
Other Assets & Liabilities, Net | 15,110,995 | |
Net Assets | $1,077,394,124 |
(a) | Income from this security may be subject to alternative minimum tax. |
(b) | Represents privately placed and other securities and instruments exempt from Securities and Exchange Commission registration (collectively, private placements), such as Section 4(a)(2) and Rule 144A eligible securities, which are often sold only to qualified institutional buyers. At October 31, 2021, the total value of these securities amounted to $18,520,343, which represents 1.72% of total net assets. |
(c) | Represents a security purchased on a when-issued basis. |
(d) | Zero coupon bond. |
(e) | Represents securities that have defaulted on payment of interest. The Fund has stopped accruing interest on these securities. At October 31, 2021, the total value of these securities amounted to $82,672, which represents 0.01% of total net assets. |
(f) | The rate shown is the seven-day current annualized yield at October 31, 2021. |
AGM | Assured Guaranty Municipal Corporation |
AMBAC | Ambac Assurance Corporation |
NPFGC | National Public Finance Guarantee Corporation |
20 | Columbia Intermediate Municipal Bond Fund | Annual Report 2021 |
October 31, 2021
■ | Level 1 — Valuations based on quoted prices for investments in active markets that the Fund has the ability to access at the measurement date. Valuation adjustments are not applied to Level 1 investments. |
■ | Level 2 — Valuations based on other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risks, etc.). |
■ | Level 3 — Valuations based on significant unobservable inputs (including the Fund’s own assumptions and judgment in determining the fair value of investments). |
Level 1 ($) | Level 2 ($) | Level 3 ($) | Total ($) | |
Investments in Securities | ||||
Municipal Bonds | — | 1,061,271,306 | — | 1,061,271,306 |
Money Market Funds | 1,011,823 | — | — | 1,011,823 |
Total Investments in Securities | 1,011,823 | 1,061,271,306 | — | 1,062,283,129 |
Columbia Intermediate Municipal Bond Fund | Annual Report 2021 | 21 |
October 31, 2021
Assets | |
Investments in securities, at value | |
Unaffiliated issuers (cost $986,411,131) | $1,062,283,129 |
Receivable for: | |
Investments sold | 10,444,606 |
Capital shares sold | 1,055,442 |
Interest | 12,258,479 |
Expense reimbursement due from Investment Manager | 6,257 |
Prepaid expenses | 13,621 |
Trustees’ deferred compensation plan | 386,447 |
Total assets | 1,086,447,981 |
Liabilities | |
Due to custodian | 25,719 |
Payable for: | |
Investments purchased on a delayed delivery basis | 4,823,642 |
Capital shares purchased | 759,875 |
Distributions to shareholders | 2,543,771 |
Management services fees | 14,096 |
Distribution and/or service fees | 1,349 |
Transfer agent fees | 94,014 |
Compensation of board members | 376,999 |
Compensation of chief compliance officer | 27 |
Other expenses | 27,918 |
Trustees’ deferred compensation plan | 386,447 |
Total liabilities | 9,053,857 |
Net assets applicable to outstanding capital stock | $1,077,394,124 |
Represented by | |
Paid in capital | 997,836,914 |
Total distributable earnings (loss) | 79,557,210 |
Total - representing net assets applicable to outstanding capital stock | $1,077,394,124 |
22 | Columbia Intermediate Municipal Bond Fund | Annual Report 2021 |
October 31, 2021
Class A | |
Net assets | $171,414,947 |
Shares outstanding | 16,388,590 |
Net asset value per share | $10.46 |
Maximum sales charge | 3.00% |
Maximum offering price per share (calculated by dividing the net asset value per share by 1.0 minus the maximum sales charge for Class A shares) | $10.78 |
Advisor Class | |
Net assets | $6,615,017 |
Shares outstanding | 632,802 |
Net asset value per share | $10.45 |
Class C | |
Net assets | $16,754,286 |
Shares outstanding | 1,601,620 |
Net asset value per share | $10.46 |
Institutional Class | |
Net assets | $843,760,711 |
Shares outstanding | 80,633,173 |
Net asset value per share | $10.46 |
Institutional 2 Class | |
Net assets | $25,496,393 |
Shares outstanding | 2,440,970 |
Net asset value per share | $10.45 |
Institutional 3 Class | |
Net assets | $2,896,830 |
Shares outstanding | 276,574 |
Net asset value per share | $10.47 |
Class V | |
Net assets | $10,455,940 |
Shares outstanding | 999,682 |
Net asset value per share | $10.46 |
Maximum sales charge | 4.75% |
Maximum offering price per share (calculated by dividing the net asset value per share by 1.0 minus the maximum sales charge for Class V shares) | $10.98 |
Columbia Intermediate Municipal Bond Fund | Annual Report 2021 | 23 |
Year Ended October 31, 2021
Net investment income | |
Income: | |
Dividends — unaffiliated issuers | $1,041 |
Interest | 35,991,002 |
Total income | 35,992,043 |
Expenses: | |
Management services fees | 5,258,981 |
Distribution and/or service fees | |
Class A | 334,902 |
Class C | 158,124 |
Class V | 15,880 |
Transfer agent fees | |
Class A | 198,925 |
Advisor Class | 7,706 |
Class C | 22,333 |
Institutional Class | 1,039,967 |
Institutional 2 Class | 15,686 |
Institutional 3 Class | 268 |
Class V | 12,584 |
Compensation of board members | 128,401 |
Custodian fees | 10,772 |
Printing and postage fees | 26,991 |
Registration fees | 137,092 |
Audit fees | 29,500 |
Legal fees | 23,386 |
Compensation of chief compliance officer | 289 |
Other | 34,246 |
Total expenses | 7,456,033 |
Fees waived or expenses reimbursed by Investment Manager and its affiliates | (1,456,804) |
Fees waived by distributor | |
Class C | (8,005) |
Expense reduction | (360) |
Total net expenses | 5,990,864 |
Net investment income | 30,001,179 |
Realized and unrealized gain (loss) — net | |
Net realized gain (loss) on: | |
Investments — unaffiliated issuers | 2,478,782 |
Net realized gain | 2,478,782 |
Net change in unrealized appreciation (depreciation) on: | |
Investments — unaffiliated issuers | (1,306,017) |
Net change in unrealized appreciation (depreciation) | (1,306,017) |
Net realized and unrealized gain | 1,172,765 |
Net increase in net assets resulting from operations | $31,173,944 |
24 | Columbia Intermediate Municipal Bond Fund | Annual Report 2021 |
Year Ended October 31, 2021 | Year Ended October 31, 2020 | |
Operations | ||
Net investment income | $30,001,179 | $33,446,999 |
Net realized gain | 2,478,782 | 4,807,471 |
Net change in unrealized appreciation (depreciation) | (1,306,017) | (11,848,821) |
Net increase in net assets resulting from operations | 31,173,944 | 26,405,649 |
Distributions to shareholders | ||
Net investment income and net realized gains | ||
Class A | (5,097,345) | (4,707,382) |
Advisor Class | (211,361) | (200,952) |
Class C | (474,038) | (570,089) |
Institutional Class | (28,632,229) | (31,204,877) |
Institutional 2 Class | (943,115) | (1,350,901) |
Institutional 3 Class | (92,953) | (90,301) |
Class V | (330,141) | (354,228) |
Total distributions to shareholders | (35,781,182) | (38,478,730) |
Decrease in net assets from capital stock activity | (46,659,482) | (103,458,912) |
Total decrease in net assets | (51,266,720) | (115,531,993) |
Net assets at beginning of year | 1,128,660,844 | 1,244,192,837 |
Net assets at end of year | $1,077,394,124 | $1,128,660,844 |
Columbia Intermediate Municipal Bond Fund | Annual Report 2021 | 25 |
Year Ended | Year Ended | |||
October 31, 2021 | October 31, 2020 | |||
Shares | Dollars ($) | Shares | Dollars ($) | |
Capital stock activity | ||||
Class A | ||||
Subscriptions | 3,590,256 | 38,025,004 | 2,586,579 | 27,150,318 |
Distributions reinvested | 418,945 | 4,428,423 | 390,025 | 4,096,422 |
Redemptions | (2,552,880) | (26,990,697) | (2,447,488) | (25,426,158) |
Net increase | 1,456,321 | 15,462,730 | 529,116 | 5,820,582 |
Advisor Class | ||||
Subscriptions | 144,951 | 1,536,076 | 112,982 | 1,190,568 |
Distributions reinvested | 19,977 | 211,036 | 19,081 | 200,295 |
Redemptions | (127,353) | (1,343,291) | (96,725) | (1,000,205) |
Net increase | 37,575 | 403,821 | 35,338 | 390,658 |
Class C | ||||
Subscriptions | 387,986 | 4,106,394 | 631,585 | 6,614,557 |
Distributions reinvested | 43,653 | 461,575 | 46,312 | 486,507 |
Redemptions | (873,307) | (9,252,987) | (854,723) | (8,970,813) |
Net decrease | (441,668) | (4,685,018) | (176,826) | (1,869,749) |
Institutional Class | ||||
Subscriptions | 5,497,647 | 58,228,372 | 5,466,330 | 57,173,942 |
Distributions reinvested | 531,186 | 5,617,499 | 498,443 | 5,237,575 |
Redemptions | (11,089,869) | (117,227,760) | (15,780,931) | (164,511,056) |
Net decrease | (5,061,036) | (53,381,889) | (9,816,158) | (102,099,539) |
Institutional 2 Class | ||||
Subscriptions | 130,766 | 1,382,805 | 1,549,645 | 16,298,646 |
Distributions reinvested | 89,315 | 943,115 | 128,809 | 1,350,725 |
Redemptions | (643,990) | (6,819,315) | (2,200,424) | (22,767,572) |
Net decrease | (423,909) | (4,493,395) | (521,970) | (5,118,201) |
Institutional 3 Class | ||||
Subscriptions | 97,746 | 1,036,989 | 56,427 | 594,551 |
Distributions reinvested | 6,662 | 70,519 | 6,502 | 68,369 |
Redemptions | (64,961) | (685,910) | (65,419) | (683,847) |
Net increase (decrease) | 39,447 | 421,598 | (2,490) | (20,927) |
Class V | ||||
Subscriptions | 8,149 | 86,535 | 14,680 | 155,628 |
Distributions reinvested | 23,602 | 249,503 | 25,184 | 264,515 |
Redemptions | (68,390) | (723,367) | (95,033) | (981,879) |
Net decrease | (36,639) | (387,329) | (55,169) | (561,736) |
Total net decrease | (4,429,909) | (46,659,482) | (10,008,159) | (103,458,912) |
26 | Columbia Intermediate Municipal Bond Fund | Annual Report 2021 |
Columbia Intermediate Municipal Bond Fund | Annual Report 2021 | 27 |
Net asset value, beginning of period | Net investment income | Net realized and unrealized gain (loss) | Total from investment operations | Distributions from net investment income | Distributions from net realized gains | Total distributions to shareholders | |
Class A | |||||||
Year Ended 10/31/2021 | $10.51 | 0.27 | 0.00(c) | 0.27 | (0.27) | (0.05) | (0.32) |
Year Ended 10/31/2020 | $10.59 | 0.28 | (0.03) | 0.25 | (0.29) | (0.04) | (0.33) |
Year Ended 10/31/2019 | $10.11 | 0.31 | 0.48 | 0.79 | (0.31) | (0.00)(c) | (0.31) |
Year Ended 10/31/2018 | $10.54 | 0.31 | (0.43) | (0.12) | (0.31) | — | (0.31) |
Year Ended 10/31/2017 | $10.71 | 0.31 | (0.17) | 0.14 | (0.31) | — | (0.31) |
Advisor Class | |||||||
Year Ended 10/31/2021 | $10.50 | 0.29 | 0.00(c) | 0.29 | (0.29) | (0.05) | (0.34) |
Year Ended 10/31/2020 | $10.59 | 0.30 | (0.04) | 0.26 | (0.31) | (0.04) | (0.35) |
Year Ended 10/31/2019 | $10.11 | 0.33 | 0.48 | 0.81 | (0.33) | (0.00)(c) | (0.33) |
Year Ended 10/31/2018 | $10.53 | 0.33 | (0.42) | (0.09) | (0.33) | — | (0.33) |
Year Ended 10/31/2017 | $10.71 | 0.33 | (0.18) | 0.15 | (0.33) | — | (0.33) |
Class C | |||||||
Year Ended 10/31/2021 | $10.51 | 0.21 | 0.00(c) | 0.21 | (0.21) | (0.05) | (0.26) |
Year Ended 10/31/2020 | $10.59 | 0.21 | (0.03) | 0.18 | (0.22) | (0.04) | (0.26) |
Year Ended 10/31/2019 | $10.12 | 0.24 | 0.48 | 0.72 | (0.25) | (0.00)(c) | (0.25) |
Year Ended 10/31/2018 | $10.54 | 0.24 | (0.42) | (0.18) | (0.24) | — | (0.24) |
Year Ended 10/31/2017 | $10.72 | 0.25 | (0.19) | 0.06 | (0.24) | — | (0.24) |
Institutional Class | |||||||
Year Ended 10/31/2021 | $10.51 | 0.29 | 0.00(c) | 0.29 | (0.29) | (0.05) | (0.34) |
Year Ended 10/31/2020 | $10.60 | 0.30 | (0.04) | 0.26 | (0.31) | (0.04) | (0.35) |
Year Ended 10/31/2019 | $10.12 | 0.33 | 0.48 | 0.81 | (0.33) | (0.00)(c) | (0.33) |
Year Ended 10/31/2018 | $10.54 | 0.33 | (0.42) | (0.09) | (0.33) | — | (0.33) |
Year Ended 10/31/2017 | $10.72 | 0.33 | (0.18) | 0.15 | (0.33) | — | (0.33) |
Institutional 2 Class | |||||||
Year Ended 10/31/2021 | $10.49 | 0.30 | 0.01 | 0.31 | (0.30) | (0.05) | (0.35) |
Year Ended 10/31/2020 | $10.58 | 0.31 | (0.05) | 0.26 | (0.31) | (0.04) | (0.35) |
Year Ended 10/31/2019 | $10.10 | 0.34 | 0.48 | 0.82 | (0.34) | (0.00)(c) | (0.34) |
Year Ended 10/31/2018 | $10.53 | 0.34 | (0.44) | (0.10) | (0.33) | — | (0.33) |
Year Ended 10/31/2017 | $10.70 | 0.34 | (0.17) | 0.17 | (0.34) | — | (0.34) |
28 | Columbia Intermediate Municipal Bond Fund | Annual Report 2021 |
Net asset value, end of period | Total return | Total gross expense ratio to average net assets(a) | Total net expense ratio to average net assets(a),(b) | Net investment income ratio to average net assets | Portfolio turnover | Net assets, end of period (000’s) | |
Class A | |||||||
Year Ended 10/31/2021 | $10.46 | 2.61% | 0.83% | 0.70%(d) | 2.55% | 5% | $171,415 |
Year Ended 10/31/2020 | $10.51 | 2.36% | 0.82% | 0.73%(d) | 2.70% | 9% | $156,865 |
Year Ended 10/31/2019 | $10.59 | 7.94% | 0.82%(e) | 0.76%(d),(e) | 2.97% | 14% | $152,575 |
Year Ended 10/31/2018 | $10.11 | (1.18%) | 0.81%(f) | 0.76%(d),(f) | 2.98% | 8% | $157,597 |
Year Ended 10/31/2017 | $10.54 | 1.39% | 0.84%(g) | 0.77%(d),(g) | 2.99% | 11% | $189,260 |
Advisor Class | |||||||
Year Ended 10/31/2021 | $10.45 | 2.81% | 0.63% | 0.50%(d) | 2.75% | 5% | $6,615 |
Year Ended 10/31/2020 | $10.50 | 2.47% | 0.62% | 0.53%(d) | 2.90% | 9% | $6,249 |
Year Ended 10/31/2019 | $10.59 | 8.15% | 0.62%(e) | 0.56%(d),(e) | 3.22% | 14% | $5,927 |
Year Ended 10/31/2018 | $10.11 | (0.89%) | 0.61%(f) | 0.56%(d),(f) | 3.18% | 8% | $20,349 |
Year Ended 10/31/2017 | $10.53 | 1.50% | 0.63% | 0.58%(d) | 3.16% | 11% | $17,306 |
Class C | |||||||
Year Ended 10/31/2021 | $10.46 | 1.99% | 1.47% | 1.30%(d) | 1.94% | 5% | $16,754 |
Year Ended 10/31/2020 | $10.51 | 1.71% | 1.47% | 1.38%(d) | 2.06% | 9% | $21,469 |
Year Ended 10/31/2019 | $10.59 | 7.14% | 1.47%(e) | 1.41%(d),(e) | 2.33% | 14% | $23,522 |
Year Ended 10/31/2018 | $10.12 | (1.72%) | 1.46%(f) | 1.41%(d),(f) | 2.32% | 8% | $29,097 |
Year Ended 10/31/2017 | $10.54 | 0.64% | 1.49%(g) | 1.42%(d),(g) | 2.34% | 11% | $44,951 |
Institutional Class | |||||||
Year Ended 10/31/2021 | $10.46 | 2.81% | 0.63% | 0.50%(d) | 2.75% | 5% | $843,761 |
Year Ended 10/31/2020 | $10.51 | 2.47% | 0.62% | 0.53%(d) | 2.90% | 9% | $900,641 |
Year Ended 10/31/2019 | $10.60 | 8.15% | 0.62%(e) | 0.56%(d),(e) | 3.17% | 14% | $1,012,229 |
Year Ended 10/31/2018 | $10.12 | (0.88%) | 0.61%(f) | 0.56%(d),(f) | 3.17% | 8% | $1,232,944 |
Year Ended 10/31/2017 | $10.54 | 1.50% | 0.63%(g) | 0.57%(d),(g) | 3.18% | 11% | $1,679,211 |
Institutional 2 Class | |||||||
Year Ended 10/31/2021 | $10.45 | 2.98% | 0.56% | 0.44% | 2.81% | 5% | $25,496 |
Year Ended 10/31/2020 | $10.49 | 2.54% | 0.55% | 0.47% | 2.98% | 9% | $30,056 |
Year Ended 10/31/2019 | $10.58 | 8.24% | 0.55%(e) | 0.49%(e) | 3.21% | 14% | $35,836 |
Year Ended 10/31/2018 | $10.10 | (0.92%) | 0.55%(f) | 0.50%(f) | 3.25% | 8% | $15,697 |
Year Ended 10/31/2017 | $10.53 | 1.67% | 0.54%(g) | 0.50%(g) | 3.26% | 11% | $12,401 |
Columbia Intermediate Municipal Bond Fund | Annual Report 2021 | 29 |
Net asset value, beginning of period | Net investment income | Net realized and unrealized gain (loss) | Total from investment operations | Distributions from net investment income | Distributions from net realized gains | Total distributions to shareholders | |
Institutional 3 Class | |||||||
Year Ended 10/31/2021 | $10.52 | 0.30 | 0.01 | 0.31 | (0.31) | (0.05) | (0.36) |
Year Ended 10/31/2020 | $10.61 | 0.32 | (0.05) | 0.27 | (0.32) | (0.04) | (0.36) |
Year Ended 10/31/2019 | $10.13 | 0.34 | 0.49 | 0.83 | (0.35) | (0.00)(c) | (0.35) |
Year Ended 10/31/2018 | $10.55 | 0.34 | (0.42) | (0.08) | (0.34) | — | (0.34) |
Year Ended 10/31/2017(h) | $10.43 | 0.22 | 0.13(i) | 0.35 | (0.23) | — | (0.23) |
Class V | |||||||
Year Ended 10/31/2021 | $10.50 | 0.27 | 0.02 | 0.29 | (0.28) | (0.05) | (0.33) |
Year Ended 10/31/2020 | $10.59 | 0.29 | (0.05) | 0.24 | (0.29) | (0.04) | (0.33) |
Year Ended 10/31/2019 | $10.11 | 0.32 | 0.48 | 0.80 | (0.32) | (0.00)(c) | (0.32) |
Year Ended 10/31/2018 | $10.54 | 0.31 | (0.43) | (0.12) | (0.31) | — | (0.31) |
Year Ended 10/31/2017 | $10.71 | 0.32 | (0.17) | 0.15 | (0.32) | — | (0.32) |
Notes to Financial Highlights | |
(a) | 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. |
(b) | Total net expenses include the impact of certain fee waivers/expense reimbursements made by the Investment Manager and certain of its affiliates, if applicable. |
(c) | Rounds to zero. |
(d) | The benefits derived from expense reductions had an impact of less than 0.01%. |
(e) | Ratios include line of credit interest expense which is less than 0.01%. |
(f) | Ratios include interfund lending expense which is less than 0.01%. |
(g) | Expenses have been reduced due to a reimbursement of expenses overbilled by a third party. If the reimbursement had been excluded, the expense ratios would have been higher by the percentages shown for each class in the table below. All fee waivers and expense reimbursements by the Investment Manager and its affiliates were applied before giving effect to this third party reimbursement. |
Year Ended | Class A | Class C | Institutional Class | Institutional 2 Class | Class V |
10/31/2017 | 0.01% | 0.01% | 0.01% | 0.01% | 0.01% |
(h) | Institutional 3 Class shares commenced operations on March 1, 2017. Per share data and total return reflect activity from that date. |
(i) | 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. |
(j) | Annualized. |
30 | Columbia Intermediate Municipal Bond Fund | Annual Report 2021 |
Net asset value, end of period | Total return | Total gross expense ratio to average net assets(a) | Total net expense ratio to average net assets(a),(b) | Net investment income ratio to average net assets | Portfolio turnover | Net assets, end of period (000’s) | |
Institutional 3 Class | |||||||
Year Ended 10/31/2021 | $10.47 | 2.93% | 0.52% | 0.39% | 2.86% | 5% | $2,897 |
Year Ended 10/31/2020 | $10.52 | 2.59% | 0.51% | 0.42% | 3.01% | 9% | $2,495 |
Year Ended 10/31/2019 | $10.61 | 8.27% | 0.51%(e) | 0.44%(e) | 3.28% | 14% | $2,542 |
Year Ended 10/31/2018 | $10.13 | (0.76%) | 0.50%(f) | 0.45%(f) | 3.31% | 8% | $1,836 |
Year Ended 10/31/2017(h) | $10.55 | 3.35% | 0.51%(j) | 0.47%(j) | 3.25%(j) | 11% | $1,865 |
Class V | |||||||
Year Ended 10/31/2021 | $10.46 | 2.76% | 0.78% | 0.65%(d) | 2.60% | 5% | $10,456 |
Year Ended 10/31/2020 | $10.50 | 2.31% | 0.77% | 0.68%(d) | 2.75% | 9% | $10,887 |
Year Ended 10/31/2019 | $10.59 | 7.99% | 0.77%(e) | 0.71%(d),(e) | 3.02% | 14% | $11,562 |
Year Ended 10/31/2018 | $10.11 | (1.13%) | 0.76%(f) | 0.71%(d),(f) | 3.03% | 8% | $12,260 |
Year Ended 10/31/2017 | $10.54 | 1.44% | 0.79%(g) | 0.72%(d),(g) | 3.03% | 11% | $13,371 |
Columbia Intermediate Municipal Bond Fund | Annual Report 2021 | 31 |
October 31, 2021
32 | Columbia Intermediate Municipal Bond Fund | Annual Report 2021 |
October 31, 2021
Columbia Intermediate Municipal Bond Fund | Annual Report 2021 | 33 |
October 31, 2021
34 | Columbia Intermediate Municipal Bond Fund | Annual Report 2021 |
October 31, 2021
Effective rate (%) | |
Class A | 0.12 |
Advisor Class | 0.12 |
Class C | 0.12 |
Institutional Class | 0.12 |
Institutional 2 Class | 0.06 |
Institutional 3 Class | 0.01 |
Class V | 0.12 |
Front End (%) | CDSC (%) | Amount ($) | |
Class A | 3.00 | 0.75(a) | 42,053 |
Class C | — | 1.00(b) | 2,094 |
Class V | 4.75 | 0.50 - 1.00(c) | 213 |
Columbia Intermediate Municipal Bond Fund | Annual Report 2021 | 35 |
October 31, 2021
(a) | This charge is imposed on certain investments of $500,000 or more if redeemed within 12 months after purchase. |
(b) | This charge applies to redemptions within 12 months after purchase, with certain limited exceptions. |
(c) | This charge is imposed on certain investments of between $1 million and $50 million redeemed within 18 months after purchase, as follows: 1.00% if redeemed within 12 months after purchase, and 0.50% if redeemed more than 12, but less than 18, months after purchase, with certain limited exceptions. |
December 11, 2021 through February 29, 2024 | September 1, 2021 through December 10, 2021 | March 1, 2021 through August 31, 2021 | Prior to March 1, 2021 | |
Class A | 0.61% | 0.61% | 0.71% | 0.73% |
Advisor Class | 0.41 | 0.41 | 0.51 | 0.53 |
Class C | 1.21 | 1.21 | 1.36 | 1.38 |
Institutional Class | 0.41 | 0.41 | 0.51 | 0.53 |
Institutional 2 Class | 0.33 | 0.35 | 0.45 | 0.46 |
Institutional 3 Class | 0.28 | 0.30 | 0.40 | 0.41 |
Class V | 0.56 | 0.56 | 0.66 | 0.68 |
Year Ended October 31, 2021 | Year Ended October 31, 2020 | ||||||
Ordinary income ($) | Tax-exempt income ($) | Long-term capital gains ($) | Total ($) | Ordinary income ($) | Tax-exempt income ($) | Long-term capital gains ($) | Total ($) |
133,886 | 30,779,774 | 4,867,522 | 35,781,182 | 135,318 | 33,414,412 | 4,929,000 | 38,478,730 |
36 | Columbia Intermediate Municipal Bond Fund | Annual Report 2021 |
October 31, 2021
Undistributed ordinary income ($) | Undistributed tax- exempt income ($) | Undistributed long-term capital gains ($) | Capital loss carryforwards ($) | Net unrealized appreciation ($) |
— | 4,624,860 | 2,369,007 | — | 75,869,354 |
Federal tax cost ($) | Gross unrealized appreciation ($) | Gross unrealized (depreciation) ($) | Net unrealized appreciation ($) |
986,413,775 | 78,971,604 | (3,102,250) | 75,869,354 |
Columbia Intermediate Municipal Bond Fund | Annual Report 2021 | 37 |
October 31, 2021
38 | Columbia Intermediate Municipal Bond Fund | Annual Report 2021 |
October 31, 2021
Columbia Intermediate Municipal Bond Fund | Annual Report 2021 | 39 |
October 31, 2021
40 | Columbia Intermediate Municipal Bond Fund | Annual Report 2021 |
Columbia Intermediate Municipal Bond Fund | Annual Report 2021 | 41 |
Capital gain dividend | Exempt- interest dividends |
$2,602,721 | 99.57% |
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex* overseen | Other directorships held by Trustee during the past five years |
George S. Batejan c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1953 | Trustee since 2017 | Executive Vice President, Global Head of Technology and Operations, Janus Capital Group, Inc., 2010-2016 | 171 | Former Chairman of the Board, NICSA (National Investment Company Services Association) (Executive Committee, Nominating Committee and Governance Committee), 2014-2016; former Director, Intech Investment Management, 2011-2016; former Board Member, Metro Denver Chamber of Commerce, 2015-2016; former Advisory Board Member, University of Colorado Business School, 2015-2018 |
42 | Columbia Intermediate Municipal Bond Fund | Annual Report 2021 |
Independent trustees (continued)
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex* overseen | Other directorships held by Trustee during the past five years |
Kathleen Blatz c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1954 | Trustee since 2006 | Attorney; specializing in arbitration and mediation; Chief Justice, Minnesota Supreme Court, 1998-2006; Associate Justice, Minnesota Supreme Court, 1996-1998; Fourth Judicial District Court Judge, Hennepin County, 1994-1996; Attorney in private practice and public service, 1984-1993; State Representative, Minnesota House of Representatives, 1979-1993, which included service on the Tax and Financial Institutions and Insurance Committees; Member and Interim Chair, Minnesota Sports Facilities Authority, January 2017-July 2017; Interim President and Chief Executive Officer, Blue Cross and Blue Shield of Minnesota (health care insurance), February-July 2018 | 171 | Trustee, BlueCross BlueShield of Minnesota since 2009 (Chair of the Business Development Committee - 2014-2017; Chair of the Governance Committee, 2017-2019); former Member and Chair of the Board, Minnesota Sports Facilities Authority, January 2017-July 2017; Director, Robina Foundation, 2009-2020 (Chair, 2014-2020) |
Pamela G. Carlton c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1954 | Trustee since 2007 | President, Springboard — Partners in Cross Cultural Leadership (consulting company) since 2003; Managing Director of US Equity Research, JP Morgan Chase, 1999-2003; Director of US Equity Research, Chase Asset Management, 1996-1999; Co-Director Latin America Research, 1993-1996, COO Global Research, 1992-1996, Co-Director of US Research, 1991-1992, Investment Banker, Morgan Stanley, 1982-1991; Attorney, Cleary Gottlieb Steen & Hamilton LLP, 1980-1982 | 171 | Trustee, New York Presbyterian Hospital Board (Executive Committee and Chair of People Committee) since 1996; Director, DR Bank (Audit Committee) since 2017; Director, Evercore Inc. (Audit Committee, Nominating and Governance Committee) since 2019 |
Janet Langford Carrig c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1957 | Trustee since 1996 | Senior Vice President, General Counsel and Corporate Secretary, ConocoPhillips (independent energy company), September 2007-October 2018 | 169 | Director, EQT Corporation (natural gas producer) since 2019; Director, Whiting Petroleum Corporation (independent oil and gas company) since 2020 |
J. Kevin Connaughton c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1964 | Trustee since 2020(a) | Member, FINRA National Adjudicatory Council since January 2020; Adjunct Professor of Finance, Bentley University since January 2018; Managing Director and General Manager of Mutual Fund Products, Columbia Management Investment Advisers, LLC, May 2010-February 2015; President, Columbia Funds, 2008-2015; and senior officer of Columbia Funds and affiliated funds, 2003-2015 | 169 | Director, The Autism Project, since March 2015; former Member of the Investment Committee, St. Michael’s College, November 2015-February 2020; former Trustee, St. Michael’s College, June 2017-September 2019; former Trustee, New Century Portfolios, January 2015-December 2017 |
Olive M. Darragh c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1962 | Trustee since 2020(a) | Managing Director of Darragh Inc. (strategy and talent management consulting firm) since 2010; Founder and CEO, Zolio, Inc. (investment management talent identification platform) since 2004; Partner, Tudor Investments, 2004-2010; Senior Partner, McKinsey & Company (consulting), 2001-2004 | 169 | Former Director, University of Edinburgh Business School (Member of US Board); former Director, Boston Public Library Foundation |
Columbia Intermediate Municipal Bond Fund | Annual Report 2021 | 43 |
Independent trustees (continued)
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex* overseen | Other directorships held by Trustee during the past five years |
Patricia M. Flynn c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1950 | Trustee since 2004 | Trustee Professor of Economics and Management, Bentley University since 1976 (also teaches and conducts research on corporate governance); Dean, McCallum Graduate School of Business, Bentley University, 1992-2002 | 171 | Trustee, MA Taxpayers Foundation since 1997; Board of Governors, Innovation Institute, MA Technology Collaborative, 2010-2019; Board of Directors, The MA Business Roundtable, 2003-2019 |
Brian J. Gallagher c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1954 | Trustee since 2017 | Retired; Partner with Deloitte & Touche LLP and its predecessors, 1977-2016 | 171 | Trustee, Catholic Schools Foundation since 2004 |
Douglas A. Hacker c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1955 | Co-Chair since 2021; Chair of CFST I and CFVIT since 2014; Trustee of CFST I and CFVIT since 1996 and CFST, CFST II, CFVST II, CET I and CET II since 2021 | Independent business executive since May 2006; Executive Vice President – Strategy of United Airlines, December 2002 - May 2006; President of UAL Loyalty Services (airline marketing company), September 2001-December 2002; Executive Vice President and Chief Financial Officer of United Airlines, July 1999-September 2001 | 169 | Director, Spartan Nash Company (food distributor); Director, Aircastle Limited (Chair of Audit Committee) (aircraft leasing); former Director, Nash Finch Company (food distributor), 2005-2013; former Director, SeaCube Container Leasing Ltd. (container leasing), 2010-2013; and former Director, Travelport Worldwide Limited (travel information technology), 2014-2019 |
Nancy T. Lukitsh c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1956 | Trustee since 2011 | Senior Vice President, Partner and Director of Marketing, Wellington Management Company, LLP (investment adviser), 1997-2010; Chair, Wellington Management Portfolios (commingled non-U.S. investment pools), 2007 -2010; Director, Wellington Trust Company, NA and other Wellington affiliates, 1997-2010 | 169 | None |
David M. Moffett c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1952 | Trustee since 2011 | Retired; Consultant to Bridgewater and Associates | 169 | Director, CSX Corporation (transportation suppliers); Director, Genworth Financial, Inc. (financial and insurance products and services); Director, PayPal Holdings Inc. (payment and data processing services); Trustee, University of Oklahoma Foundation; former Director, eBay Inc. (online trading community), 2007-2015; and former Director, CIT Bank, CIT Group Inc. (commercial and consumer finance), 2010-2016 |
44 | Columbia Intermediate Municipal Bond Fund | Annual Report 2021 |
Independent trustees (continued)
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex* overseen | Other directorships held by Trustee during the past five years |
Catherine James Paglia c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1952 | Co-Chair since 2021; Chair of CFST, CFST II, CFVST II, CET I and CET II since 2020; Trustee of CFST, CFST II and CFVST II since 2004 and CFST I and CFVIT since 2021 | Director, Enterprise Asset Management, Inc. (private real estate and asset management company) since September 1998; Managing Director and Partner, Interlaken Capital, Inc., 1989-1997; Vice President, 1982-1985, Principal, 1985-1987, Managing Director, 1987-1989, Morgan Stanley; Vice President, Investment Banking, 1980-1982, Associate, Investment Banking, Dean Witter Reynolds, Inc., 1976-1980 | 171 | Director, Valmont Industries, Inc. (irrigation systems manufacturer) since 2012; Trustee, Carleton College (on the Investment Committee); Trustee, Carnegie Endowment for International Peace (on the Investment Committee) |
Anthony M. Santomero c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1946 | Trustee since 2008 | Richard K. Mellon Professor Emeritus of Finance, The Wharton School, University of Pennsylvania, since 2002; Senior Advisor, McKinsey & Company (consulting), 2006-2008; President, Federal Reserve Bank of Philadelphia, 2000-2006; Professor of Finance, The Wharton School, University of Pennsylvania, 1972-2002 | 171 | Trustee, Penn Mutual Life Insurance Company since March 2008; Director, RenaissanceRe Holdings Ltd. since May 2008; former Director, Citigroup Inc. and Citibank, N.A., 2009-2019; former Trustee, BofA Funds Series Trust (11 funds), 2008-2011 |
Minor M. Shaw c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1947 | Trustee since 2003 | President, Micco LLC (private investments) since 2011; President, Micco Corp. (family investment business), 1998-2011 | 171 | Director, BlueCross BlueShield of South Carolina (Chair of Compensation Committee) since April 2008; Trustee, Hollingsworth Funds (on the Investment Committee) since 2016 (previously Board Chair from 2016-2019); Former Advisory Board member, Duke Energy Corp., 2016-2020; Chair of the Duke Endowment; Chair of Greenville – Spartanburg Airport Commission; former Trustee, BofA Funds Series Trust (11 funds), 2003-2011; former Director, Piedmont Natural Gas, 2004-2016; former Director, National Association of Corporate Directors, Carolinas Chapter, 2013-2018; Chair, Daniel-Mickel Foundation |
Columbia Intermediate Municipal Bond Fund | Annual Report 2021 | 45 |
Independent trustees (continued)
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex* overseen | Other directorships held by Trustee during the past five years |
Natalie A. Trunow c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1967 | Trustee since 2020(a) | Chief Executive Officer, Millennial Portfolio Solutions LLC (asset management and consulting services) since January 2016; Non-executive Member of the Investment Committee, Sarona Asset Management Inc. (private equity firm) since September 2019; Advisor, Horizon Investments (asset management and consulting services) since August 2018; Advisor, Paradigm Asset Management since November 2016; Director of Investments, Casey Family Programs, April 2016-September 2016; Senior Vice President and Chief Investment Officer, Calvert Investments, August 2008 - January 2016; Section Head and Portfolio Manager, General Motors Asset Management, June 1997-August 2008 | 169 | Director, Health Services for Children with Special Needs, Inc.; Director, Consumer Credit Counseling Services (formerly Guidewell Financial Solutions); Independent Director, Investment Committee, Sarona Asset Management |
Sandra Yeager c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1964 | Trustee since 2017 | Retired; President and founder, Hanoverian Capital, LLC (SEC registered investment advisor firm), 2008-2016; Managing Director, DuPont Capital, 2006-2008; Managing Director, Morgan Stanley Investment Management, 2004-2006; Senior Vice President, Alliance Bernstein, 1990-2004 | 171 | Director, NAPE Education Foundation, October 2016-October 2020 |
* | The term “Columbia Funds Complex” as used herein includes Columbia Seligman Premium Technology Growth Fund, Tri-Continental Corporation and each series of Columbia Fund Series Trust (CFST), Columbia Funds Series Trust I (CFST I), Columbia Funds Series Trust II (CFST II), Columbia ETF Trust I (CET I), Columbia ETF Trust II (CET II), Columbia Funds Variable Insurance Trust (CFVIT) and Columbia Funds Variable Series Trust II (CFVST II). Messrs. Batejan, Beckman, Gallagher and Santomero and Mses. Blatz, Carlton, Flynn, Paglia, Shaw and Yeager serve as a director of Columbia Seligman Premium Technology Growth Fund and Tri-Continental Corporation. |
(a) | J. Kevin Connaughton was appointed a consultant to the Independent Trustees of CFST I and CFVIT effective March 1, 2016. Natalie A. Trunow was appointed a consultant to the Independent Trustees of CFST I and CFVIT effective September 1, 2016. Olive M. Darragh was appointed a consultant to the Independent Trustees of CFST I and CFVIT effective June 10, 2019. Shareholders of the Funds elected Mr. Connaughton and Mses. Darragh and Trunow as Trustees of CFST, CFST I, CFST II, CET I, CET II, and CFVST II, effective January 1, 2021, and of CFVIT, effective July 1, 2020. |
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during the past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex overseen | Other directorships held by Trustee during the past five years |
Daniel J. Beckman c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1962 | Trustee since November 2021(a) | Vice President – Head of North America Product, Columbia Management Investment Advisers, LLC (since April 2015); officer of Columbia Funds and affiliated funds since 2020. | 171 | Director, Ameriprise Trust Company, since October 2016; Director, Columbia Management Investment Distributors, Inc. since November 2018 |
* | 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. |
(a) | Mr. Beckman serves as the President and Principal Executive Officer of the Columbia Funds (since 2021). |
46 | Columbia Intermediate Municipal Bond Fund | Annual Report 2021 |
The Board has appointed officers who are responsible for day-to-day business decisions based on policies it has established. The officers serve at the pleasure of the Board. The following table provides basic information about the Officers of the Fund as of the printing of this report, including principal occupations during the past five years, although their specific titles may have varied over the period. In addition to Mr. Beckman, who is the President and Principal Executive Officer, the Fund’s other officers are:
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 |
Michael G. Clarke 290 Congress Street Boston, MA 02210 1969 | Chief Financial Officer and Principal Financial Officer (2009) and Senior Vice President (2019) | Vice President, Head of North American Operations, and Co-Head of Global Operations, Columbia Management Investment Advisers, LLC, since June 2019 (previously Vice President – Accounting and Tax, May 2010 – May 2019); senior officer of Columbia Funds and affiliated funds since 2002. |
Joseph Beranek 5890 Ameriprise Financial Center Minneapolis, MN 55474 1965 | Treasurer and Chief Accounting Officer (Principal Accounting Officer) (2019) and Principal Financial Officer (2020), CFST, CFST I, CFST II, CFVIT and CFVST II; Assistant Treasurer, CET I and CET II | Vice President – Mutual Fund Accounting and Financial Reporting, Columbia Management Investment Advisers, LLC, since December 2018 and March 2017, respectively (previously Vice President – Pricing and Corporate Actions, May 2010 - March 2017). |
Marybeth Pilat 290 Congress Street Boston, MA 02210 1968 | Treasurer and Chief Accounting Officer (Principal Accounting Officer) and Principal Financial Officer (2020) for CET I and CET II; Assistant Treasurer, CFST, CFST I, CFST II, CFVIT and CFVST II | Vice President – Product Pricing and Administration, Columbia Management Investment Advisers, LLC, since May 2017; Director - Fund Administration, Calvert Investments, August 2015 – March 2017; Vice President - Fund Administration, Legg Mason, May 2015 - July 2015; Vice President - Fund Administration, Columbia Management Investment Advisers, LLC, May 2010 - April 2015. |
William F. Truscott 290 Congress Street Boston, MA 02210 1960 | Senior Vice President (2001) | Formerly, Trustee of Columbia Funds Complex until January 1, 2021; Chief Executive Officer, Global Asset Management, Ameriprise Financial, Inc. since September 2012; Chairman of the Board and President, Columbia Management Investment Advisers, LLC since July 2004 and February 2012, respectively; Chairman of the Board and Chief Executive Officer, Columbia Management Investment Distributors, Inc. since November 2008 and February 2012, respectively; Chairman of the Board and Director, Threadneedle Asset Management Holdings, Sàrl since March 2013 and December 2008, respectively; senior executive of various entities affiliated with Columbia Threadneedle. |
Christopher O. Petersen 5228 Ameriprise Financial Center Minneapolis, MN 55474 1970 | Senior Vice President and Assistant Secretary | Formerly, Trustee of Columbia Funds Complex until November 22, 2021; Senior Vice President and Assistant General Counsel, Ameriprise Financial, Inc. since September 2021 (previously Vice President and Lead Chief Counsel, January 2015 - September 2021); President and Principal Executive Officer of the Columbia Funds 2015 - 2021; officer of Columbia Funds and affiliated funds since 2007. |
Thomas P. McGuire 290 Congress Street Boston, MA 02210 1972 | Senior Vice President and Chief Compliance Officer (2012) | Vice President – Asset Management Compliance, Ameriprise Financial, Inc., since May 2010; Chief Compliance Officer, Columbia Acorn/Wanger Funds since December 2015; Chief Compliance Officer, Ameriprise Certificate Company September 2010 – September 2020. |
Colin Moore 290 Congress Street Boston, MA 02210 1958 | Senior Vice President (2010) | Executive Vice President and Global Chief Investment Officer, Ameriprise Financial, Inc., since July 2013; Executive Vice President and Global Chief Investment Officer, Columbia Management Investment Advisers, LLC since July 2013. |
Ryan C. Larrenaga 290 Congress Street Boston, MA 02210 1970 | Senior Vice President (2017), Chief Legal Officer (2017), and Secretary (2015) | Vice President and Chief Counsel, Ameriprise Financial, Inc. since August 2018 (previously Vice President and Group Counsel, August 2011 - August 2018); Chief Legal Officer, Columbia Acorn/Wanger Funds, since September 2020; officer of Columbia Funds and affiliated funds since 2005. |
Columbia Intermediate Municipal Bond Fund | Annual Report 2021 | 47 |
Fund officers (continued)
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 |
Michael E. DeFao 290 Congress Street Boston, MA 02210 1968 | Vice President (2011) and Assistant Secretary (2010) | Vice President and Chief Counsel, Ameriprise Financial, Inc. since May 2010; Vice President, Chief Legal Officer and Assistant Secretary, Columbia Management Investment Advisers, LLC since October 2021 (previously Vice President and Assistant Secretary, May 2010 – September 2021). |
Lyn Kephart-Strong 5228 Ameriprise Financial Center Minneapolis, MN 55474 1960 | Vice President (2015) | President, Columbia Management Investment Services Corp. since October 2014; Vice President & Resolution Officer, Ameriprise Trust Company since August 2009. |
• | Information on the investment performance of the Fund relative to the performance of a group of mutual funds determined to be comparable to the Fund by Broadridge, as well as performance relative to benchmarks; |
• | Information on the Fund’s management fees and total expenses, including information comparing the Fund’s expenses to those of a group of comparable mutual funds, as determined by Broadridge; |
48 | Columbia Intermediate Municipal Bond Fund | Annual Report 2021 |
• | The Investment Manager’s agreement to contractually limit or cap total operating expenses for the Fund so that total operating expenses (excluding certain fees and expenses, such as transaction costs and certain other investment related expenses, interest, taxes, acquired fund fees and expenses, and infrequent and/or unusual expenses) would not exceed a specified annual rate, as a percentage of the Fund’s net assets; |
• | Terms of the Management Agreement; |
• | Descriptions of other agreements and arrangements with affiliates of the Investment Manager relating to the operations of the Fund, including agreements with respect to the provision of transfer agency and shareholder services to the Fund; |
• | Descriptions of various services performed by the Investment Manager under the Management Agreement, including portfolio management and portfolio trading practices; |
• | Information regarding any recently negotiated management fees of similarly-managed portfolios of other institutional clients of the Investment Manager; |
• | Information regarding the resources of the Investment Manager, including information regarding senior management, portfolio managers and other personnel; |
• | Information regarding the capabilities of the Investment Manager with respect to compliance monitoring services; |
• | The profitability to the Investment Manager and its affiliates from their relationships with the Fund; and |
• | Report provided by the Board’s independent fee consultant, JDL Consultants, LLC (JDL). |
Columbia Intermediate Municipal Bond Fund | Annual Report 2021 | 49 |
Investment performance
50 | Columbia Intermediate Municipal Bond Fund | Annual Report 2021 |
Economies of scale
Columbia Intermediate Municipal Bond Fund | Annual Report 2021 | 51 |
columbiathreadneedleus.com/investor/. The Fund is distributed by Columbia Management Investment Distributors, Inc., member FINRA, and managed by Columbia Management Investment Advisers, LLC.
Item 2. Code of Ethics.
(a)The registrant has adopted a code of ethics that applies to the registrant's principal executive officer, principal financial officer, principal accounting officer or controller, or persons performing similar functions, regardless of whether these individuals are employed by the registrant or a third party.
(b)During the period covered by this report, there were not any amendments to a provision of the code of ethics that applies to the registrant's principal executive officer, principal financial officer, principal accounting officer or controller, or persons performing similar functions, regardless of whether these individuals are employed by the registrant or a third party, and that relates to any element of the code of ethics definition enumerated in paragraph (b) of this Item.
(c)During the period covered by this report, there were no waivers, including any implicit waivers, from a provision of the code of ethics to the registrant's principal executive officer, principal financial officer, principal accounting officer or controller, or persons performing similar functions, regardless of whether these individuals are employed by the registrant or a third party that relates to one or more of the items set forth in paragraph (b) of this Item.
Item 3. Audit Committee Financial Expert.
The registrant's Board of Trustees has determined that David M. Moffett, Brian J. Gallagher, J. Kevin Connaughton, and Sandra L. Yeager, each of whom are members of the registrant's Board of Trustees and Audit Committee, each qualify as an audit committee financial expert. Mr. Moffett, Mr. Gallagher, Mr. Connaughton, and Ms. Yeager are each independent trustees, as defined in paragraph (a)(2) of this item's instructions.
Item 4. Principal Accountant Fees and Services.
Fee information below is disclosed for the six series of the registrant whose reports to stockholders are included in this annual filing.
(a)Audit Fees. Aggregate Audit Fees billed by the principal accountant for professional services rendered during the fiscal years ended October 31, 2021 and October 31, 2020 are approximately as follows:
20212020
$177,000 $177,000
Audit Fees include amounts related to the audit of the registrant's annual financial statements or services that are normally provided by the accountant in connection with statutory and regulatory filings or engagements for those fiscal years.
(b)Audit-Related Fees. Aggregate Audit-Related Fees billed to the registrant by the principal accountant for professional services rendered during the fiscal years ended October 31, 2021 and October 31, 2020 are approximately as follows:
2021 | 2020 |
$0 | $0 |
Audit-Related Fees, if any, include amounts for assurance and related services by the principal accountant that are reasonably related to the performance of the audit of the registrant's financial statements and are not reported in Audit Fees above.
During the fiscal years ended October 31, 2021 and October 31, 2020, there were no Audit-Related Fees billed by the registrant's principal accountant to the registrant's investment adviser (not including any sub-adviser whose role is primarily portfolio management and is subcontracted with or overseen by another investment adviser) and any entity controlling, controlled by, or under common control with the adviser that provides ongoing services to the registrant for an engagement that related directly to the operations and financial reporting of the registrant.
(c)Tax Fees. Aggregate Tax Fees billed by the principal accountant to the registrant for professional services rendered during the fiscal years ended October 31, 2021 and October 31, 2020 are approximately as follows:
2021 | 2020 |
$0 | $0 |
Tax Fees, if any, include amounts for the review of annual tax returns, the review of required shareholder distribution calculations and typically include amounts for professional services by the principal accountant for tax compliance, tax advice and tax planning.
During the fiscal years ended October 31, 2021 and October 31, 2020, there were no Tax Fees billed by the registrant's principal accountant to the registrant's investment adviser (not including any sub-adviser whose role is primarily portfolio management and is subcontracted with or overseen by another investment adviser) and any entity controlling, controlled by, or under common control with the adviser that provides ongoing services to the registrant for an engagement that related directly to the operations and financial reporting of the registrant.
(d)All Other Fees. Aggregate All Other Fees billed by the principal accountant to the registrant for professional services rendered during the fiscal years ended October 31,
2021 and October 31, 2020 are approximately as follows:
2021 | 2020 |
$0 | $0 |
All Other Fees, if any, include amounts for products and services provided by the principal accountant, other than the services reported in paragraphs (a) through (c) above.
Aggregate All Other Fees billed by the registrant's principal accountant to the registrant's investment adviser (not including any sub-adviser whose role is primarily portfolio management and is subcontracted with or overseen by another investment adviser) and any entity controlling, controlled by, or under common control with the adviser that provides ongoing services to the registrant for an engagement that related directly to the operations and financial reporting of the registrant during the fiscal years ended October 31, 2021 and October 31, 2020 are approximately as follows:
20212020
$520,000 $520,000
In fiscal years 2021 and 2020, All Other Fees primarily consists of fees billed for internal control examinations of the registrant's transfer agent and investment adviser.
(e)(1) Audit Committee Pre-Approval Policies and Procedures
The registrant's Audit Committee is required to pre-approve the engagement of the
registrant's independent auditors to provide audit and non-audit services to the registrant and non-audit services to its investment adviser (excluding any sub-adviser whose role is primarily portfolio management and is sub-contracted or overseen by another investment adviser (the "Adviser") or any entity controlling, controlled by or under common control with the Adviser that provides ongoing services to the Fund (a "Control Affiliate") if the engagement relates directly to the operations and financial reporting of the registrant.
The Audit Committee has adopted a Policy for Engagement of Independent Auditors for Audit and Non-Audit Services (the "Policy"). The Policy sets forth the understanding of the Audit Committee regarding the engagement of the registrant's independent accountants to provide (i) audit and permissible audit-related, tax and other services to the registrant ("Fund Services"); (ii) non-audit services to the registrant's Adviser and any Control Affiliates, that relates directly to the operations and financial reporting of a Fund ("Fund-related Adviser Services"); and (iii) certain other audit and non-audit services to the registrant's Adviser and its Control Affiliates. A service will require specific pre-approval by the Audit Committee if it is to be provided by the Fund's independent auditor; provided, however, that pre-approval of non-audit services to the Fund, the Adviser or Control Affiliates may be waived if certain de minimis requirements set forth in the SEC's rules are met.
Under the Policy, the Audit Committee may delegate pre-approval authority to any pre- designated member or members who are independent board members. The member(s) to whom such authority is delegated must report, for informational purposes only, any pre- approval decisions to the Audit Committee at its next regular meeting. The Audit Committee's responsibilities with respect to the pre-approval of services performed by the independent auditor may not be delegated to management.
On an annual basis, at a regularly scheduled Audit Committee meeting, the Fund's Treasurer or other Fund officer shall submit to the Audit Committee a schedule of the types of Fund Services and Fund-related Adviser Services that are subject to specific pre- approval. This schedule will provide a description of each type of service that is subject to specific pre-approval, along with total projected fees for each service. The pre- approval will generally cover a one-year period. The Audit Committee will review and approve the types of services and the projected fees for the next one-year period and may add to, or subtract from, the list of pre-approved services from time to time, based on subsequent determinations. This specific approval acknowledges that the Audit Committee is in agreement with the specific types of services that the independent auditor will be permitted to perform and the projected fees for each service.
The Fund's Treasurer or other Fund officer shall report to the Audit Committee at each of its regular meetings regarding all Fund Services or Fund-related Adviser Services provided since the last such report was rendered, including a description of the services, by category, with forecasted fees for the annual reporting period, proposed changes requiring specific pre-approval and a description of services provided by the independent auditor, by category, with actual fees during the current reporting period.
*****
(e)(2) None, or 0%, of the Audit-Related Fees, Tax Fees and All Other Fees paid by the Fund or affiliated entities relating directly to the operations and financial reporting of the Registrant disclosed above were approved by the audit committee pursuant to paragraphs (c)(7)(i)(C) of Rule 2-01 of Regulation S-X (which permits audit committee approval after the start of the engagement with respect to services other than audit, review or attest services, if certain conditions are satisfied).
(f)Not applicable.
(g)The aggregate non-audit fees billed by the registrant's accountant for services rendered to the registrant, and rendered to the registrant's investment adviser (not including any sub-adviser whose role is primarily portfolio management and is subcontracted with or overseen by another investment adviser), and any entity controlling, controlled by, or under common control with the adviser that provides ongoing services to the registrant for the fiscal years ended October 31, 2021 and October 31, 2020 are approximately as follows:
20212020
$520,000 $520,000
(h)The registrant's Audit Committee of the Board of Directors has considered whether the provision of non-audit services that were rendered to the registrant's adviser (not including any sub-adviser whose role is primarily portfolio management and is subcontracted with or overseen by another investment adviser), and any entity controlling, controlled by, or under common control with the investment adviser that provides ongoing services to the registrant that were not pre-approved pursuant to paragraph (c)(7)(ii) of Rule 2-01 of Regulation S-X, is compatible with maintaining the principal accountant's independence.
Item 5. Audit Committee of Listed Registrants.
Not applicable.
Item 6. Investments
(a)The registrant's "Schedule I – Investments in securities of unaffiliated issuers" (as set forth in 17 CFR 210.12-12) is included in Item 1 of this Form N-CSR.
(b)Not applicable.
Item 7. Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies.
Not applicable.
Item 8. Portfolio Managers of Closed-End Management Investment Companies.
Not applicable.
Item 9. Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers.
Not applicable.
Item 10. Submission of Matters to a Vote of Security Holders.
There were no material changes to the procedures by which shareholders may recommend nominees to the registrant's board of directors.
Item 11. Controls and Procedures.
(a)The registrant's principal executive officer and principal financial officer, based on their evaluation of the registrant's disclosure controls and procedures as of a date within 90 days of the filing of this report, have concluded that such controls and procedures are adequately designed to ensure that information required to be disclosed by the registrant in Form N-CSR is accumulated and communicated to the registrant's management, including the principal executive officer and principal financial officer, or persons performing similar functions, as appropriate to allow timely decisions regarding required disclosure.
(b)There was no change in the registrant's internal control over financial reporting that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting.
Item 12. Disclosure of Securities Lending Activities for Closed-End Management Investment Companies
Not applicable.
Item 13. Exhibits.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly
authorized. |
|
| ||
(registrant) |
| Columbia Funds Series Trust I |
| |
By (Signature and Title) | /s/ Daniel J. Beckman |
| ||
|
|
| Daniel J. Beckman, President and Principal Executive Officer |
|
Date |
| December 21, 2021 |
|
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
By (Signature and Title) | /s/ Daniel J. Beckman | ||
|
| Daniel J. Beckman, President and Principal Executive Officer | |
Date |
| December 21, 2021 |
|
By (Signature and Title) | /s/ Michael G. Clarke | ||
|
| Michael G. Clarke, Chief Financial Officer, Principal Financial Officer | |
|
| and Senior Vice President | |
Date |
| December 21, 2021 |
|
By (Signature and Title) | /s/ Joseph Beranek | ||
|
| Joseph Beranek, Treasurer, Chief Accounting Officer and Principal | |
|
| Financial Officer | |
Date |
| December 21, 2021 |
|