UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 14A
Joint Proxy Statement Pursuant to Section 14(a) of the(RULE 14a-101)
Securities Exchange Act ofINFORMATION REQUIRED IN PROXY STATEMENT
SCHEDULE 14A INFORMATION
JOINT PROXY STATEMENT PURSUANT TO SECTION 14(a) OF THE
SECURITIES EXCHANGE ACT OF 1934
Filed by the Registrant x Filed by a Party other than the Registrant ¨
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| ¨ | Preliminary Proxy Statement. | |||
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| x | Definitive Proxy Statement. | |||
| ¨ | Definitive Additional Materials. | |||
| ¨ | Soliciting Material under §240.14a-12. | |||
Columbia Funds Series Trust I
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Columbia Funds Series Trust I
One Financial Center,Columbia Funds Series Trust II
Columbia Funds Variable Series Trust II
225 Franklin Street, Boston, Massachusetts 0211102110
Columbia Absolute Return Currency and Income Fund
Columbia Capital Allocation Aggressive Portfolio (formerly, Columbia Portfolio Builder Aggressive Fund)
Columbia Capital Allocation Conservative Portfolio (formerly, Columbia Portfolio Builder Conservative Fund)
Columbia Capital Allocation Moderate Portfolio (formerly, Columbia Portfolio Builder Moderate Fund)
Columbia Seligman Communications and Information Fund
Columbia Seligman Global Technology Fund
Columbia Technology Fund
Columbia Variable Portfolio – Seligman Global Technology Fund
Columbia Variable Portfolio – Short Duration U.S. Government Fund
(each, a “Fund” and collectively, the “Funds”)
IMPORTANT INFORMATION TO HELP YOU UNDERSTAND
AND VOTE ON THE PROPOSALS
This is a brief overview of the matters on which you are being asked to vote. The accompanying Joint Proxy Statement contains more detailed information about each proposal, and we encourage you to read it in its entirety before voting. Your vote is important.
| Q. | Why are you sending me this information? |
| A. | On February |
Columbia Variable Portfolio – Seligman Global Technology Fund and Columbia Variable Portfolio – Short Duration U.S. Government Fund are owned of record by sub-accounts of insurance companies (the “Participating Insurance Companies”) established to fund benefits under variable annuity contract and/or variable life insurance policies (each a “Contract”) issued by the Participating Insurance Companies, qualified pension or retirement plans, and other permissible investors under relevant U.S. federal income tax rules. Persons holding Contracts are referred to herein as “Contract Owners.” If you are a Contract Owner with Contract values allocated to Columbia Variable Portfolio – Seligman Global Technology Fund or Columbia Variable Portfolio – Short Duration U.S. Government Fund, you are being asked to provide voting instructions to the
Participating Insurance Company that issued your Contract regarding a proposal involving your fund. For simplicity, references to Fund shareholders include, as applicable, Contract Owners.
| Q. | What are the proposals? |
| A. | Shareholders of the Funds referenced below are being asked to vote or provide voting instructions on the following proposals: |
For certain Funds,Columbia Capital Allocation Aggressive Portfolio, Columbia Capital Allocation Conservative Portfolio and Columbia Capital Allocation Moderate Portfolio, the approval of an amendment to the Investment Management Services Agreement to increaserevise the fee structure, to add an investment advisory fee rate payable by those Funds at variousfor their investments in certain asset levelscategories (Proposal 1).;
For Columbia California Tax-ExemptAbsolute Return Currency and Income Fund, the approval of a change in the Fund’s fundamental policy regarding concentration (Proposal 2);
For Columbia Seligman Global Technology Fund, Columbia Technology Fund and Columbia Connecticut Tax-ExemptVariable Portfolio – Seligman Global Technology Fund, the approval of a change in the Fund’s fundamental policy regarding concentration (Proposal 3);
For Columbia Variable Portfolio – Short Duration U.S. Government Fund, the approval of an amendment to the Fund’s investment objective changing it from fundamental to non-fundamental (Proposal 4); and
For Columbia Seligman Communications and Information Fund, Columbia Seligman Global Technology Fund, Columbia Technology Fund and Columbia Variable Portfolio – Seligman Global Technology Fund, the approval of a proposal to change the classification of such Fund from a “diversified” fund to a “non-diversified” fund, as such terms are defined in the Investment Company Act of 1940 (the “1940 Act”) (Proposal 2)5).
For Columbia Real Estate Equity Fund, a proposal to approve the conversion of its investment objective and a related 80% policy from “fundamental” (requiring shareholder approval to modify in the future) to “non-fundamental” (not requiring shareholder approval to modify in the future). There are no current proposals to make any substantive changes to the objective or this policy (Proposal 3).
| Q. | For |
| A. | Proposal 1 requests your vote on an amendment to the Investment Management Services Agreement (the “IMS Agreement”) between Columbia Management |
Columbia Capital Allocation Aggressive Portfolio
Columbia Capital Allocation Conservative Portfolio Columbia Capital Allocation Moderate Portfolio | ||
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(each, an “IMS Fee Fund” and collectively, the “IMS Fee Funds”)
The proposed amendment isIMS Fee Funds were originally designed as “Funds-of-Funds” that invested exclusively in underlying funds advised by Columbia Management. As part of a group
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broader alignment of related proposals that,asset allocation products offered by Columbia Management, the IMS Fee Funds have recently expanded their mandate to invest in securities and instruments (securities) in addition to underlying funds advised by Columbia Management. The proposed amendment, if approved, areis designed to achieve consistentadopt an investment management service and fee structures across moststructure for assets of the Columbia-brandedan IMS Fee Fund invested in securities other than underlying funds and the funds that were formerly (and in some cases, currently) branded as RiverSource, Seligman and Threadneedle funds (collectively, the “Combined Fund Complex”). Specifically, theadvised by Columbia Management. The proposed amendment to the IMS Agreement for each IMS Fee Fund would increase theresult in each IMS Fee Fund paying investment advisory feefees to Columbia Management at a rate payablethat varies based on the type of investments made by such IMS Fee Fund to Columbia Management at various asset levels.Fund. Each IMS Fee Fund’s operations and the manner in which Columbia Management manages the IMS Fee Fund are not expected to change otherwise as a result of this amendment. More specifically, except for the proposed change to the investment advisory fee rates payable by an IMS Fee Fund, the IMS Agreement for such IMS Fee Funds would remain the same in all respects.respects, including that no investment advisory fees would be payable directly by the IMS Fee Funds with respect to investments in other funds in the Columbia fund complex since these funds themselves pay an investment advisory fee to Columbia Management.
| Q. | Will the change to the investment advisory fee structure increase the expenses of my IMS Fee Fund? |
| A. | Investment advisory fees are expected to increase, but overall Fund expenses may be lower than if the IMS Fee Funds’ assets were invested exclusively in underlying funds advised by Columbia Management. That is, although the proposed amendment to the IMS Agreement would result in higher “direct” investment advisory fees for net assets invested in securities, direct investment by the IMS Fee Funds in securities, rather than in underlying funds advised by Columbia Management, decreases the “indirect” fees (often referred to as “acquired fund” fees and expenses) incurred by the IMS Fee Fund as a result of its investment in underlying funds. |
Comparisons of the investment advisory fee rates for each IMS Fee Fund, and gross and net expense ratios, are included in the accompanying Joint Proxy Statement.
| Q. | For the IMS Fee Funds, why should I approve an amendment that would or could increase the investment advisory fee rates payable by my Fund? |
| A. | The proposed amendment to the IMS Agreement is |
StandardizingStandardize investment advisory fee rates and total management fee rates (i.e., the investment advisory fee rates and the administration/administrative fee rates), to the extent practicable, across target allocation funds in the Combined Fund Complex that are in the same investment category (e.g.,Columbia fund complex (specifically, the amendment would align the investment advisory fee rates of Columbia Select Small Cap Fund with those of other actively managed small-cap funds in the Combined Fund Complex) to promote uniformity of pricing among similar funds;
Implementing contractual expense limitations that will generally cap total annual operating expense ratios for each fund in the Combined Fund Complex at levels that are at or below the median net operating expense ratio of funds in the respective fund’s peer group (as determined annually after the initial term by an independent third-party data provider); and
Correlating investment advisory and administration/administrative fee rates across the Combined Fund Complex commensurate with the level of services being provided.
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rates of the IMS Fee Funds with those of certain other target date funds advised by Columbia Management, as described in Proposal 1) to promote uniformity of pricing among similar funds; and |
The investment
Compensate Columbia Management for the advisory fee rates payable byservices it provides to the IMS Fee Funds would increase at various asset levels (with current effective advisory fees increasingwith respect to assets invested in securities other than underlying funds advised by up to 0.16% of average daily net assets depending on yourColumbia Management.
The IMS Fee Fund),Funds do not currently pay Columbia Management a management fee, because at the time the IMS Fee Funds were created, it was contemplated that they would invest exclusively in underlying funds advised by, and that paid an advisory fee to, Columbia Management. Under the proposed amendment and based on the allocation of the IMS Fee Funds’ assets as of August 31, 2012, it is expected that the investment advisory fee rate will increase 0.0145% for Columbia Capital Allocation Conservative Portfolio, 0.003% for Columbia Capital Allocation Moderate Portfolio and 0.006% for Columbia Capital Allocation Aggressive Portfolio, as described in the accompanying Joint Proxy Statement. Even though certain fee rates will increase for certain funds, includingStatement (assuming the IMS Fee Funds, the net effectcurrent portfolio positions of the larger group of proposals, which for many of the funds comprising the Combined Fund Complex include reductions in administration/administrative fee rates and contractual expense limitations, is expected to be a reduction in the overall fees paid, on a cumulative basis, by the various funds comprising the Combined Fund Complex. Thus, on a cumulative basis, shareholders, many of whom own shares of more than one fund, may pay lower fees overall even if the fee rate of a particular fund is increasing.
Moreover, the fees actually paid by the IMS Fee Funds will be limited by contractual expense limitations that will generally cap total annual operating expense ratios at levels that are at or below the median net operating expense ratio of the funds in the respective Fund’s peer group. These commitments may mitigate the impact of any fee rate increases resulting from the amended fee schedules.
Comparisons of the investment advisory fee rates for each IMS Fee Fund, and, if its effective investment advisory fee rates would increase, gross and net expense ratios, are included in the accompanying Joint Proxy Statement. If you do not hold shares of an IMS Fee Fund, the investment advisory fee rates payable by your Fund under the proposed amendment will not increase from the investment advisory fee rates currently payable by your Fund.funds).
| Q. | For |
| A. | Proposal 2 asks the shareholders of Columbia Absolute Return Currency and Income Fund to approve a change in the fundamental policy regarding concentration of their Fund. Currently, Columbia Absolute Return Currency and Income Fund has a fundamental investment policy that it will not concentrate in any one industry, provided, however, that this restriction shall not apply to securities or obligations issued or guaranteed by the U.S. Government, banks or bank holding companies or finance companies. For all other industries, this means that no more than 25% of the Fund’s total assets, based on current market value at the time of purchase, can be invested in any one industry. |
Following an internal review that included portfolio management and product management, Columbia Management determined there was no present intention for Columbia Absolute Return Currency and Income Fund to concentrate in banks, bank holding companies or finance companies. As a result, Proposal 2 asks shareholders to approve the following as a new fundamental investment policy for the Fund, replacing the Fund’s current concentration policy described above:
The Fund will not purchase any securities which would cause 25% or more of the value of its total assets at the time of purchase to be invested in the securities of one or more issuers conducting their principal business activities in the same industry, provided that: (i) there is no limitation with respect to obligations issued or guaranteed by the U.S. Government, any state or territory of the United States or any of their agencies, instrumentalities or political subdivisions; and (ii) notwithstanding this limitation or any other fundamental investment
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limitation, assets may be invested in the securities of one or more management investment companies to the extent permitted by the 1940 Act, the rules and regulations thereunder and any applicable exemptive relief.
| Q. | For Columbia Seligman Global Technology Fund, Columbia Technology Fund and Columbia Variable Portfolio – Seligman Global Technology Fund, why am I being asked to approve a change to my Fund’s fundamental policy regarding concentration? |
| A. | Proposal 3 asks the shareholders of Columbia Seligman Global Technology Fund, Columbia Technology Fund and Columbia Variable Portfolio – Seligman Global Technology Fund (each, a “Technology Fund” and collectively, the “Technology Funds”) to approve a change in the fundamental policy regarding concentration to provide that each Fund will, under normal market conditions, invest at least 25% of its total assets in securities of companies in the technology and related group of industries. Currently, each Technology Fund has a fundamental investment policy that it will not concentrate in any one industry, provided, however, that this restriction shall not apply to securities or obligations issued or guaranteed by the U.S. Government or any of its agencies or instrumentalities or, in the case of Columbia Technology Fund, by any state or territory of the United States or any of their agencies, instrumentalities or political subdivisions. For Columbia Technology Fund, the limitation on industry concentration does not apply to assets invested in the securities of one or more management investment companies or subsidiaries to the extent permitted by the 1940 Act, the rules and regulations thereunder and any applicable exemptive relief. This means that for all other industries, no more than 25% of the Fund’s total assets, based on current market value at the time of purchase, can be invested in any one industry. |
Following an internal review, Columbia Management determined that each Technology Fund would be better able to pursue its investment objectives if it were to concentrate its investments in the technology and related group of industries. Historically, each Technology Fund has treated each of the internet software and services, IT consulting and other services, data processing and outsourced services, application software, systems software, home entertainment software, communications equipment, computer hardware, computer storage and peripherals, electronic equipment and instruments, electronic components, electronic manufacturing services, technology distributors, office electronics, semiconductor equipment, and semiconductors sub-industries as a separate industry for purposes of its policy generally prohibiting the Fund from investing more than 25% of its total assets in the securities of issuers in any industry. Issuers in each of these sub-industries will be treated as belonging to the technology and related group of industries under the proposed policy. Columbia Management believes that the process of monitoring compliance with each Technology Fund’s concentration policy will be simplified, and each Fund will be better able to pursue its investment objectives, if the Fund’s fundamental policy relating to concentration is changed as proposed. Increasing the percentage of a
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Technology Fund’s total assets that can be invested in the securities of issuers in a single industry or group of related industries increases the risk that the Fund will be adversely affected by events impacting such industries or group of related industries. Such a Fund would be more significantly affected by events impacting such industries than would a Fund that was not so concentrated.
For these reasons, Proposal 3 asks shareholders to approve the following as a new fundamental investment policy for each Technology Fund, replacing the Fund’s current concentration policy described above:
The Fund will, under normal market conditions, invest at least 25% of the value of its total assets at the time of purchase in the securities of issuers conducting their principal business activities in the technology and related group of industries, provided that: (i) there is no limitation with respect to obligations issued or guaranteed by the U.S. Government, any state or territory of the United States or any of their agencies, instrumentalities or political subdivisions; and (ii) notwithstanding this limitation or any other fundamental investment limitation, assets may be invested in the securities of one or more management investment companies or subsidiaries to the extent permitted by the 1940 Act, the rules and regulations thereunder and any applicable exemptive relief.
| Q. | For Columbia Variable Portfolio – Short Duration U.S. Government Fund, why am I being asked to approve the conversion of my Fund’s investment objective? |
| A. | Proposal 4 asks Contract Owners of Columbia Variable Portfolio – Short Duration U.S. Government Fund (the “Short Duration Fund”) to provide voting instructions to approve the conversion of its investment objective from “fundamental” (i.e., one that cannot be changed without shareholder approval) to “non-fundamental” (i.e., can be changed by the Board without shareholder approval). Currently, the Short Duration Fund’s investment objective is to seek a “high level of current income and safety of principal consistent with an investment in U.S. government and government agency securities.” The Board has approved, subject to approval of the proposal to make the Short Duration Fund’s investment objective non-fundamental, making the Short Duration Fund’s objective (the “New Objective”) to seek “current income as its primary objective and, as its secondary objective, preservation of capital.” Columbia Management believes the proposed investment objective is generally similar to the current investment objective, but will give the Fund greater investment flexibility. In connection with this proposal, the Board has approved (i) changing the Fund’s principal investment strategies to require the Fund to invest, under normal circumstances, at least 80% of its net assets in mortgage related securities that either are issued or guaranteed as to principal and interest by the U.S. Government, its agencies, authorities or instrumentalities, and (ii) changing the Fund’s benchmark from the Barclays U.S. 1-3 year Government Index to the Barclays U.S. Mortgage Backed Securities Index. |
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If this proposal is approved, the New Objective, as stated, would be implemented following the Meeting.
Changing the investment objective from “fundamental” to “non-fundamental” will give the Board additional flexibility to make changes to the Short Duration Fund’s investment objective that it deems appropriate in the future to address changing market conditions or performance issues, while saving the Short Duration Fund’s shareholders the cost of a proxy solicitation.
| Q. | For Columbia Seligman Communications and Information Fund, Columbia Seligman Global Technology Fund, Columbia Technology Fund and Columbia Variable Portfolio – Seligman Global Technology Fund, why am I being asked to approve a change to my Fund’s diversification status? |
| A. | Proposal |
By changing its classification to a “non-diversified” fund, eacha Policy Change Fund would no longer be subject to these restrictions, but would continue to be subject to certain other diversification restrictions and would continue to invest principally in municipal bonds that pay interest that is exempt from a particular state’s individual income tax.under the Internal Revenue Code of 1986 (the “Code”). As a result of this change, Columbia Management, on behalf of each Policy Change Fund, would be able to invest the Fund’s assets in a smaller number of issuers and/or invest with higher levels of concentration in certain issuers. Thus, the Reclassification enhances Columbia Management’s flexibility to invest eacha Policy Change Fund’s assets by easing a restriction on Columbia Management’s ability to manage the portfolios.Fund’s portfolio. Columbia Management believes this increased investment flexibility may provide eachthe Policy Change FundFunds with more opportunities to enhance itstheir performance. However, because the appreciation or depreciation of a single bondsecurity may have a greater impact on the net asset value of eacha Policy Change Fund, its share price may fluctuate more than a comparable fund which is classified as diversified.
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Columbia Management and the Board are not currently proposing to change Columbia Real Estate Equity Fund’s investment objective or the related policy, nor are there currently any plans to change Columbia Real Estate Equity Fund’s investment objective or the related policy in the future. Any future changes, however, would require the approval only of the Board. Columbia Real Estate Equity Fund would be required to provide shareholders with at least 60 days’ prior notice of any future change to its policy of investing at least 80% of its net assets in equity securities of companies principally engaged in the real estate industry, including real estate investment trusts.
Changing the investment objective from “fundamental” to “non-fundamental” will give Columbia Management and the Board additional flexibility to make changes to Columbia Real Estate Equity Fund’s investment objective or the related policy that they deem appropriate in the future, to address changing market conditions or performance issues, while saving Columbia Real Estate Equity Fund shareholders the cost of a proxy solicitation.
| Q. | How does the Board recommend that I vote? |
| A. | The applicable Board unanimously recommends that you vote (or instruct your Participating Insurance Company to vote) FOR each |
| Q. | Will my Fund pay for this proxy solicitation? |
| A. | No. Columbia Management or an affiliated company will bear all of these costs. |
| Q. | How can I vote? |
| A. | You can vote or provide voting instructions in one of four ways: |
By telephone: Call the toll-free number printed on the enclosed Proxy Card(s) and follow the directions.
By internet: Access the website address printed on the enclosed Proxy Card(s) and follow the directions on the website.
By mail: Complete, sign and return the enclosed Proxy Card(s) in the enclosed self-addressed, postage-paid envelope.
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In person at the Meeting scheduled to occur at 225 Franklin Street, Boston, MA 02110 (32nd Floor, Room 3200) on February 27, 2013 at 10:00 a.m. (Eastern). If you decide to vote in person, you must attend the Meeting at the time and place described in the accompanying Joint Proxy Statement. To attend the Meeting in person, you will need proof of ownership of the shares of the relevant Fund, such as your Proxy Card (or a copy thereof) or, if your shares are held of record by a financial intermediary, such as a broker, or nominee, a Proxy Card from the record holder or other proof of beneficial ownership, such as a brokerage statement showing your holdings of the shares of the relevant Fund.
| Q. | Why might I receive more than one Proxy Card? |
| A. | If you own shares of more than one Fund or own shares of a Fund in more than one account, you may receive a separate Proxy Card for each such Fund or account, and should vote each Proxy Card received. |
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| Q. | Will I be notified of the results of the vote? |
| A. | The final voting results will be included in each Fund’s next report to shareholders following the Meeting. |
| Q. | Whom should I call if I have questions? |
| A. | If you have questions about any of the proposals described in the Joint Proxy Statement or about voting procedures, please call the Funds’ proxy solicitor, Computershare Fund Services, toll free at |
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NOTICE OF A JOINT SPECIAL MEETING OF SHAREHOLDERS
Columbia Absolute Return Currency and Income Fund
Columbia Capital Allocation Aggressive Portfolio (formerly, Columbia Portfolio Builder Aggressive Fund)
Columbia Capital Allocation Conservative Portfolio (formerly, Columbia Portfolio Builder Conservative Fund)
Columbia Capital Allocation Moderate Portfolio (formerly, Columbia Portfolio Builder Moderate Fund)
Columbia Seligman Communications and Information Fund
Columbia Seligman Global Technology Fund
Columbia Technology Fund
Columbia Variable Portfolio – Seligman Global Technology Fund
Columbia Variable Portfolio – Short Duration U.S. Government Fund
toTo be held on February 15, 201127, 2013
A Joint Special Meeting of Shareholders (the “Meeting”) of each Fund and of Columbia Funds Series Trust I, Columbia Funds Series Trust II and Columbia Funds Variable Series Trust II (the “Trust”“Trusts”), as a whole, will be held at One Financial Center (5th225 Franklin Street, Boston, MA 02110 (32nd Floor, Conference Room A)3200), Boston, Massachusetts, 02111, at 1:10:00 p.m.a.m. (Eastern) on February 15, 2011.27, 2013. At the Meeting, shareholders will be asked to:
Proposal | Funds Covered | |||||
| 1. | Approve a proposed amendment to the Investment Management Services Agreement between | Columbia Columbia Capital Allocation Conservative Portfolio Columbia Capital Allocation Moderate Portfolio | ||||
| 2. | Approve a change to the Fund’s fundamental policy regarding concentration. | Columbia Absolute Return Currency Income Fund | ||||
| 3. | Approve a change to the Fund’s fundamental policy regarding concentration. | Columbia Seligman Global Technology Fund Columbia
Columbia
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| 4. | Approve a proposal to make the Fund’s investment objective non-fundamental. | Columbia Variable Portfolio – Short Duration U.S. Government Fund | ||||
Proposal | Funds Covered By Proposal | |||||
| 5. | Approve a reclassification of the Fund from a “diversified” fund to a “non-diversified” fund, as such terms are defined in the Investment Company Act of 1940. | Columbia Columbia Columbia Technology Fund Columbia Variable Portfolio – Seligman Global Technology Fund | ||||
Please take some time to read the enclosed Joint Proxy Statement. It discusses these proposals in more detail. If you were a shareholder of a Fund or held a Contract as of the close of business on December 17, 2010,February 27, 2013, you may vote at the Meeting or at any adjournment of the Meeting on the proposal(s) applicable to your Fund(s). You are welcome to attend the Meeting in person. If you cannot attend in person to cast your vote, please vote (or instruct your Participating Insurance Company how to vote) by mail, telephone or internet. Just follow the instructions on the enclosed Proxy Card. If you have questions, please call the Funds’ proxy solicitor toll free at (800) 708-7953. It is important that you vote. TheYour Board of Trustees of the Trust unanimously recommends that you vote (or instruct your Participating Insurance Company to vote) FOR each nominee and FOR all other proposalsapplicable proposal in the Joint Proxy Statement.
By order of the BoardBoards of Trustees,
Scott R. Plummer,
Christopher O. Petersen, Secretary
December 20, 2010
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Columbia Funds Series Trust I
One Financial Center,Columbia Funds Series Trust II
Columbia Funds Variable Series Trust II
225 Franklin Street, Boston, Massachusetts 0211102110
Columbia Absolute Return Currency and Income Fund
Columbia Capital Allocation Aggressive Portfolio (formerly, Columbia Portfolio Builder Aggressive Fund) Columbia Capital Allocation Conservative Portfolio (formerly, Columbia Portfolio Builder Conservative Fund) Columbia Capital Allocation Moderate Portfolio (formerly, Columbia Portfolio Builder Moderate Fund) Columbia Seligman Communications and Information Fund Columbia Seligman Global Technology Fund Columbia Technology Fund Columbia Variable Portfolio – Seligman Global Technology Fund Columbia Variable Portfolio – Short Duration U.S. Government Fund | ||
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(each, a “Fund” and collectively, the “Funds”)
JOINT PROXY STATEMENT
Joint Special Meeting of Shareholders to be held on February 15, 201127, 2013
This Joint Proxy Statement is furnished to you in connection with the solicitation of proxies by the boardboards of trustees (the(each a “Board”) of Columbia Funds Series Trust I, Columbia Funds Series Trust II and Columbia Funds Variable Series Trust II (the “Trust”“Trusts”) relating to a Joint Special Meeting of Shareholders (the “Meeting”) of the Funds and the Trust, as a whole, towill be held at One Financial Center (5th225 Franklin Street, Boston, MA 02110 (32nd Floor, Conference Room A)3200), Boston, Massachusetts, 02111at 10:00 a.m. (Eastern) on February 15, 2011 at 1:00 p.m. (Eastern).27, 2013. It is expected that this Joint Proxy Statement will be mailed to shareholders on or about January 5, 2011.December 17, 2012.
The purpose of the Meeting is to ask Fund shareholders to:
Proposal | Funds Covered | |||||
| 1. | Approve a proposed amendment to the Investment Management Services Agreement between | Columbia Columbia Columbia | ||||
| 2. | Approve a change to the Fund’s fundamental policy regarding concentration. | Columbia
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Proposal | Funds Covered | |||||
| 3. | Approve a change to the Fund’s fundamental policy regarding concentration. | Columbia Seligman Global Technology Fund Columbia Technology Fund Columbia Variable Portfolio – Seligman Global Technology Fund | ||||
| 3. | Approve a proposal to make the Fund’s investment objective non-fundamental. | Columbia Variable Portfolio – Short Duration U.S. Government Fund | ||||
| 4. | Approve a reclassification of the Fund from a “diversified” fund to a “non-diversified” fund, as such terms are defined in the Investment Company Act of | Columbia Columbia | ||||
Columbia Columbia Variable Portfolio – Seligman Global Technology Fund | ||||||
Additional information about the Funds is available in their respective prospectuses, statements of additional information and semi-annualannual and annualsemi-annual reports to shareholders. The Funds’ most recent semi-annualannual and annualsemi-annual reports previously have been mailed to shareholders. Additional copies of any of these documents are available without charge upon request by writing Columbia Management Investment Services Corp., P.O. Box 8081, Boston, MA 02266-8081 or by calling (800) 345-6611. All of these documents also are filed with the U.S. Securities and Exchange Commission (the “SEC”) and are available on the SEC’s website at www.sec.gov.
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Proposal 1: Approve an Amendment to the Investment Management Services Agreement
The shareholders of certain Funds are being asked to approve a proposed amendment to the Investment Management Services Agreement between theColumbia Funds Series Trust II, on behalf of the Funds, and Columbia Management Investment Advisers, LLC (“Columbia Management”). Columbia Capital Allocation Aggressive Portfolio, Columbia Capital Allocation Conservative Portfolio and Columbia Capital Allocation Moderate Portfolio (each, an “IMS Fee Fund” and collectively, the “IMS Fee Funds”) were originally designed as “Funds-of-Funds” that invested exclusively in underlying funds advised by Columbia Management. As part of a broader alignment of asset allocation products offered by Columbia Management, the IMS Fee Funds have recently expanded their investment mandate to include securities and instruments (securities) in addition to underlying funds advised by Columbia Management. This mandate is substantially similar to that of certain other Columbia funds, each a series of Columbia Funds Series Trust and formerly branded as Columbia LifeGoal® Funds (the “Legacy LifeGoal® Portfolios”). The proposed amendment, if approved, is therefore designed to achieve a consistent investment management service and fee structurespricing approach across the Columbia-branded funds (the “Columbia Fund Complex”)target allocation portfolios advised by Columbia Management: the IMS Fee Funds and the funds that were formerly (and in some cases, currently) branded as RiverSource, Seligman and Threadneedle funds (the “RiverSource Fund Complex,” and together with the Columbia Fund Complex, the “Combined Fund Complex”).Legacy LifeGoal® Portfolios. Except for the investment advisory fee rates payable by thesethose Funds, the Investment Management Services Agreement for such Funds would remain the same in all respects. Informationrespects, including that no investment advisory fees would be payable directly by the IMS Fee Funds with respect to investments in other funds in the Columbia Family of Funds for which an investment advisory fee is separately paid. Investment advisory fees are expected to increase, but overall Fund expenses may be lower than if the IMS Fee Funds’ assets were invested exclusively in underlying funds advised by Columbia Management. That is, although the proposed amendment to the IMS Agreement would result in higher “direct” investment advisory fees for net assets invested in securities, direct investment by the IMS Fee Funds in securities, rather than in underlying funds advised by Columbia Management, decreases the “indirect” fees (often referred to as “acquired fund” fees and expenses) incurred by the IMS Fee Fund. Additional information (including fee and expense comparisons) about the proposed amendment to the Investment Management Services Agreement is set forth under Proposal 1.
Proposal 2: Approve a Change to the Fund’s Fundamental Policy Regarding Concentration
The shareholders of Columbia Absolute Return Currency and Income Fund are being asked to approve a change to the fundamental policy regarding concentration. Currently, Columbia Absolute Return Currency and Income Fund has a fundamental investment policy that it will not concentrate in any one industry, provided, however, that this restriction does not apply to securities or obligations issued or guaranteed by the U.S. Government, banks or bank holding companies or finance companies. For all
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other industries, this means that no more than 25% of the fund’s total assets, based on current market value at the time of purchase, can be invested in any one industry.
Following an internal review that included portfolio management and product management, Columbia Management determined there was no present intention for Columbia Absolute Return Currency and Income Fund to reserve the right to concentrate in banks, bank holding companies or finance companies. As a result, Proposal 2 asks shareholders to approve the following as a new fundamental investment policy for the Fund, replacing the Fund’s current concentration policy described above:
The Fund will not purchase any securities which would cause 25% or more of the value of its total assets at the time of purchase to be invested in the securities of one or more issuers conducting their principal business activities in the same industry, provided that: (i) there is no limitation with respect to obligations issued or guaranteed by the U.S. Government, any state or territory of the United States or any of their agencies, instrumentalities or political subdivisions; and (ii) notwithstanding this limitation or any other fundamental investment limitation, assets may be invested in the securities of one or more management investment companies to the extent permitted by the 1940 Act, the rules and regulations thereunder and any applicable exemptive relief.
Additional information is set forth under Proposal 2.
Proposal 3: Approve a Change to the Fund’s Fundamental Policy Regarding Concentration
The shareholders of Columbia Seligman Global Technology Fund, Columbia Technology Fund and Columbia Variable Portfolio – Seligman Global Technology Fund (each, a “Technology Fund” and collectively, the “Technology Funds”) are being asked to approve a change in the fundamental policy regarding concentration to provide that each Fund will, under normal market conditions, invest at least 25% of its total assets in securities of companies in the technology and related group of industries. Currently, each Technology Fund has a fundamental investment policy that it will not concentrate in any one industry, provided, however, that this restriction shall not apply to securities or obligations issued or guaranteed by the U.S. Government or any of its agencies or instrumentalities or, in the case of Columbia Technology Fund, by any state or territory of the United States or any of their agencies, instrumentalities or political subdivisions. For Columbia Technology Fund, the limitation on industry concentration does not apply to assets invested in the securities of one or more management investment companies or subsidiaries to the extent permitted by the 1940 Act, the rules and regulations thereunder and any applicable exemptive relief. This means that for all other industries, no more than 25% of the Fund’s total assets, based on current market value at the time of purchase, can be invested in any one industry.
Following an internal review, Columbia Management determined that each Technology Fund would be better able to pursue its investment objectives if it were to
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concentrate its investments in the technology and related group of industries. Historically, each Technology Fund has treated each of the internet software and services, IT consulting and other services, data processing and outsourced services, application software, systems software, home entertainment software, communications equipment, computer hardware, computer storage and peripherals, electronic equipment and instruments, electronic components, electronic manufacturing services, technology distributors, office electronics, semiconductor equipment, and semiconductors sub-industries as a separate industry for purposes of its policy generally prohibiting the Fund from investing more than 25% of its total assets in the securities of issuers in any industry. Issuers in each of these sub-industries will be treated as belonging to the technology and related group of industries under the proposed policy. Columbia Management believes that the process of monitoring compliance with each Technology Fund’s concentration policy will be simplified, and each Fund will be better able to pursue its investment objectives, if the Fund’s fundamental policy relating to concentration is changed as proposed. Increasing the percentage of a Technology Fund’s total assets that can be invested in the securities of issuers in a single industry or group of related industries increases the risk that the Fund will be adversely affected by events impacting such industries or group of related industries. Such a Fund would be more significantly affected by events impacting such industries than would a Fund that was not so concentrated.
For these reasons, Proposal 3 asks shareholders to approve the following as a new fundamental investment policy for each Technology Fund, replacing the Fund’s current concentration policy described above:
The Fund will, under normal market conditions, invest at least 25% of the value of its total assets at the time of purchase in the securities of issuers conducting their principal business activities in the technology and related group of industries, provided that: (i) there is no limitation with respect to obligations issued or guaranteed by the U.S. Government, any state or territory of the United States or any of their agencies, instrumentalities or political subdivisions; and (ii) notwithstanding this limitation or any other fundamental investment limitation, assets may be invested in the securities of one or more management investment companies or subsidiaries to the extent permitted by the 1940 Act, the rules and regulations thereunder and any applicable exemptive relief.
Additional information is set forth under Proposal 3.
Proposal 4: Approve an Amendment to the Fund’s Investment Objective
The Contract Owners of Columbia Variable Portfolio – Short Duration U.S. Government Fund (the “Short Duration Fund”) are being asked to provide voting instructions to approve the conversion of its investment objective from “fundamental” (i.e., can’t be changed without shareholder approval) to “non-fundamental” (i.e., can be changed by the Board without shareholder approval). If this proposal is approved, the Board will have the authority to modify the Short Duration Fund’s investment
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objective in the future without shareholder approval. Currently, the Short Duration Fund’s investment objective is to seek a “high level of current income and safety of principal consistent with an investment in U.S. government and government agency securities.” The Short Duration Fund’s Board has approved, subject to approval of the proposal to make the Short Duration Fund’s investment objective non-fundamental, making the Short Duration Fund’s objective (the “New Objective”) to seek “current income as its primary objective and, as its secondary objective, preservation of capital.” Columbia Management believes the proposed investment objective is generally similar to the current investment objective, but will give the Fund greater investment flexibility. In connection with this proposal, the Board has approved (i) changing the Fund’s principal investment strategies to require the Fund to invest, under normal circumstances, at least 80% of its net assets in mortgage related securities that either are issued or guaranteed as to principal and interest by the U.S. Government, its agencies, authorities or instrumentalities, and (ii) changing the Fund’s benchmark from the Barclays U.S. 1-3 year Government Index to the Barclays U.S. Mortgage Backed Securities Index.
If this proposal is approved, the New Objective, as stated, would be implemented following the Meeting.
Additional information is set forth under Proposal 4.
Proposal 5: Approve a Reclassification of the Fund from a “Diversified” Fund to a “Non-Diversified” Fund
The shareholders of Columbia California Tax-ExemptSeligman Communications and Information Fund, Columbia Seligman Global Technology Fund, Columbia Technology Fund and Columbia Connecticut Tax-ExemptVariable Portfolio – Seligman Global Technology Fund (each, a “Policy Change Fund” and collectively, the “Policy Change Funds”) are being asked to approve a change in the classification of their Fund (each, a “Reclassification” and collectively, the “Reclassifications”) from a “diversified” fund to a “non-diversified” fund, as such terms are defined in the 1940 Act. The Reclassifications would enhance Columbia Management’s flexibility to invest eacha Policy Change Fund’s assets by easing a restriction on Columbia Management’s ability to manage the portfolios. Informationportfolio. Additional information (including the associated risks) about the Reclassifications is set forth under Proposal 2.
Proposal 3: Approve Conversion of Fundamental Objective and Policy of Columbia Real Estate Equity Fund
The shareholders of Columbia Real Estate Equity Fund are being asked to approve the conversion of the Fund’s investment objective and a related 80% policy from “fundamental” (requires shareholder approval to modify in the future) to “non-fundamental” (does not require shareholder approval to modify in the future) (the “Conversion”). Changing the investment objective and the related policy from “fundamental” to “non-fundamental” will give Columbia Management and the Board additional flexibility to make changes to Columbia Real Estate Equity Fund’s investment objective that they deem appropriate in the future, to address changing market conditions or performance issues, while saving Columbia Real Estate Equity Fund the cost of a proxy solicitation. Information about the Conversion is set forth under Proposal 3.5.
Effectiveness of the Proposals
None of the proposals is contingent on the outcome of any other proposal. In addition, approval of a proposal by one Fund is not contingent on the approval of the same proposal by any other Fund.
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PROPOSAL 1 – APPROVE AMENDMENT TO IMS AGREEMENTApprove an Amendment to the Investment Management Services Agreement
Columbia Capital Allocation Aggressive Portfolio
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(each, an “IMS Fee Fund” and collectively, the “IMS Fee Funds”)
The Board has unanimously approved an amendment to the Investment Management Services Agreement (the “IMS Agreement”) between Columbia Management and theColumbia Funds Series Trust II, on behalf of each of the IMS Fee Funds. Under the 1940 Act, shareholder approval is required before any Fund can implement the proposed amendment. If shareholders of aan IMS Fee Fund do not approve the proposed amendment, such Fund will continue operating pursuant to the IMS Agreement currently in effect.
Prior to November 2011, the IMS Fee Funds invested exclusively in underlying funds advised by Columbia Management. In November 2011, the Board approved a modification to the principal investment strategies of the IMS Fee Funds to allow for direct investment in individual securities and other instruments, including derivatives. These modifications have enhanced the IMS Fee Funds’ ability to make tactical changes and manage cash flows, and such investments generally result in a corresponding reduction in investment in underlying funds advised by Columbia Management. Columbia Management is not currently compensated for its investment advisory services in connection with the purchase and sale of these securities for the IMS Fee Funds. The proposed amendment is partto the IMS Agreement will bring the fee structure of a larger group of proposals aimed at further integrating the Columbia Fund Complex and the Combined Fund Complex following the acquisition by Ameriprise Financial, Inc., the parent companyIMS Fee Funds into conformity with that of Columbia Management, ofLifeGoal® Income Portfolio, Columbia Capital Allocation Moderate Conservative Portfolio (formerly, Columbia LifeGoal® Income and Growth Portfolio), Columbia Capital Allocation Moderate Aggressive Portfolio (formerly, Columbia LifeGoal® Balanced Growth Portfolio) and Columbia Strategic Equity Portfolio (formerly, Columbia LifeGoal® Growth Portfolios) (each, a “Legacy LifeGoal® Portfolio” and collectively, the long-term asset management business of Columbia Management Group, LLC and certain of its affiliated companies from Bank of America, N.A. (the “Transaction”“Legacy LifeGoal® Portfolios”).
The proposed amendment, if approved, is designed to achievetogether with a set of proposed mergers of the Legacy LifeGoal® Portfolios and Capital Allocation branded funds, including the IMS Fee Funds (collectively, the “Capital Allocation Funds”), would result in a single suite of target allocation portfolios, with a consistent investment management servicemandate and fee structures across the Combined Fund Complex. Under the proposed amendment, the Funds would continue to be managed by Columbia Management and are expected to receive services that are the same as the services provided under the current IMS Agreement. pricing structure.
The proposed amendment to the IMS Agreement for each IMS Fee Fund would increase theinclude a three-part management fee schedule comprised of (i) 0.00% on assets invested in underlying funds advised by Columbia Management (excluding any underlying fund that does not pay an investment advisory fee rate payableto Columbia
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Management), (ii) 0.55% on assets that are invested in securities (including exchange-traded funds, derivatives and individual securities) and underlying funds advised by such IMS Fee FundColumbia Management that do not pay an advisory fee to Columbia Management, at various asset levels. Dependingand (iii) 0.10% on assets invested in non-exchange traded third-party advised mutual funds. The proposed amendment to the Fund, current effectiveIMS Agreement would result in slightly higher investment advisory fees would increasepayable by up to 0.16% of average daily net assets depending on the IMS Fee Fund.Funds based on the allocation of the IMS Fee Funds’ assets as of August 31, 2012. However, because the proposed advisory fee rate with respect to assets invested directly in such securities is lower than the total indirect underlying fund fees and expenses of most funds advised by Columbia Management, direct investment in such securities (even after taking into account the proposed fees imposed on such investments) would generally result in overall expenses (i.e., direct plus indirect expenses) borne by the IMS Fee Funds that are the same or lower. Each IMS Fee Fund’s operations and the manner in which Columbia Management generally manages the IMS Fee Fund are not expected to change as a result of this amendment. More specifically, exceptExcept for the direct investment advisory fee rates payable by an IMS Fee Fund, the IMS Agreement for such IMS Fee Funds would remain the same in all respects. In addition, as described in more detail below, the proposed amendment would not necessarily result in higher gross expenses for many of these Funds in light of their current asset levels and contemporaneous reductions in other fee rates.
A description of key terms and provisions of the IMS Agreement follows. Additional details about the effects of the proposed amendment on the IMS Fee Funds’ fee rates are set forth under “Changes to Investment Advisory Fee Rates” and “Board Considerations” below. Additional information about Columbia Management is provided inAppendix A.
The current IMS Agreement is dated as of May 1,September 22, 2010 and was last approved by shareholders of the Funds at a joint special meeting of such shareholders that was held on March 3, 2010, in connection with the Transaction, which resulted in the termination of the Funds’ prior investment advisory agreement with the Funds’ prior investment adviser.February 15, 2011.
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The IMS Agreement generally provides that, subject to oversight by the Board and the authorized officers of theColumbia Funds Series Trust II, Columbia Management agrees to: continuously furnish the IMS Fee Funds with investment advice; decide what securities are to be purchased, held or sold, consistent with the IMS Fee Funds’ respective investment objectives, strategies and policies; perform investment research; prepare and make available to the Board all research and statistical data in connection therewith; and execute or cause the execution of purchase and sell orders for the IMS Fee Funds. The IMS Agreement adds that Columbia Management will determine which investments to make consistent with the IMS Fee Fund’s investment strategies, recommend changes to investment objectives, strategies and policies to the Board and furnish to the Board such reports, statistical data and other information relating to the investment management of the relevant IMS Fee Fund in the form and at such intervals that the Board may reasonably request.
Under the IMS Agreement, Columbia Management, in executing portfolio transactions and selecting brokers or dealers for aan IMS Fee Fund, agrees to seek best
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execution. Columbia Management may consider not only the price of the security being traded (including commission or mark-up), but also other relevant facts such as, without limitation, the size and difficulty of the transaction, the characteristics of the security being traded, the broker-dealer’s financial condition and execution capabilities, or research or other information furnished to Columbia Management. The IMS Agreement explicitly contemplates that Columbia Management may, except where otherwise directed by the Board, execute transactions or pay to a broker or dealer who provides brokerage and research services a commission for executing a portfolio transaction for aan IMS Fee Fund that is in excess of the amount of commission another broker or dealer would have charged for effecting the transaction, to the extent consistent with applicable law.
The IMS Agreement contemplates the engagement by Columbia Management of subadvisers for the IMS Fee Funds, and provides that Columbia Management may subcontract and pay for certain of the services described under the IMS Agreement, with the further understanding that the quality and level of services required to be provided under the agreement will not be diminished thereby and with the understanding that Columbia Management will obtain the approval of the Board and/or aan IMS Fee Fund’s shareholders as required by applicable law, rules, regulations promulgated thereunder, the terms of the IMS Agreement, resolutions of the Board and Columbia Management’s commitments.
The IMS Agreement contemplates that Columbia Management will provide support as required or requested by the Board with respect to voting proxies solicited by or with respect to the issuers of securities owned by aan IMS Fee Fund. The IMS Agreement also contemplates that Columbia Management may vote proxies and provide or withhold consents as directed by the Board from time to time.
The IMS Agreement generally requires that all information provided by aan IMS Fee Fund to Columbia Management and vice versa be treated as confidential and non-disclosable to unaffiliated third parties except under limited circumstances. The IMS Agreement generally requires books and records to be maintained by Columbia Management on behalf of aan IMS Fee Fund.
Fees
Under the IMS Agreement, each Fund pays a fee that is based on a percentage of the daily net assets of the Fund. The IMS Agreement provides for such fees to be accrued daily and paid monthly.Fee Funds do not pay Columbia Management is solely responsible for compensating any subadviser(s) for performing any ofa direct management fee under the duties delegated to them.
current IMS Agreement. The aggregate amounts actuallythat would have been paid by each IMS Fee Fund to the prior investment adviser pursuant to the prior investment advisory agreement (which included fee schedules identical to those currently in effect) prior to May 1, 2010, and to Columbia Management under the current IMS Agreement for periods since May 1, 2010, in each case during such Fund’s last fiscal year, and the amounts that would have been paid if the proposed fee rates had been in effect during the last fiscal year are set forth inAppendix B to this Joint Proxy Statement. The amounts paid by the IMS Fee Funds to Columbia Management and its affiliated persons during each
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such Fund’s last fiscal year are also set forth inAppendix B. Information about the current and proposed fee rates for each IMS Fee Fund areis set forth below under “Changes to Investment Advisory Fee Rates –Current and Proposed Management Fee Rates”. In addition, current and proposed fee tables for each IMS Fee Fund that would experience an increase in its effective investment advisory fee rate are set forth inAppendix C to this Joint Proxy Statement. Except for the fee rate changes described in this Proposal 1, there are no proposed fee rate changes that could increase the investment advisory fee rates payable under the IMS Agreement.
As noted below,
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Columbia Management has agreed to implement contractual expense limitations that will generally cap total annual operating expense ratios at levels that are at or below the median net operating expense ratiois solely responsible for compensating any subadviser(s) for performing any of the funds in the respective Fund’s peer group (as determined annually after the initial term by an independent third-party data provider), pursuantduties delegated to a methodology mutually agreed upon by the Board and Columbia Management. These commitments may mitigate the impact of any fee increases resulting from any proposed investment advisory fee rate increases. Any contractual expense limitation may be revised or discontinued upon its expiration, unless sooner terminated by the Board in its discretion.them.
Payment of Expenses
The IMS Agreement requires Columbia Management to furnish at its expense the office space, supplies, equipment, clerical help and other personnel and services required to render its investment management services and to pay the compensation of the trustees or officers of theColumbia Funds Series Trust II who are directors, officers, or employees of Columbia Management (except to the extent that the Board specifically approves the payment by the Fund of all or a portion of such compensation). The IMS Agreement specifically notes that, except to the extent expressly assumed by Columbia Management, and except to the extent required by law to be paid or reimbursed by Columbia Management, Columbia Management will have no duty to pay any IMS Fee Fund operating expenses incurred in the organization and operation of the Fund.
Limits of Liability
Under the IMS Agreement, and subject to U.S. federal securities laws, neither Columbia Management nor any of its directors, officers, partners, principals, employees or agents will be liable for any acts or omissions or for any loss suffered by aan IMS Fee Fund or the Fund’s shareholders or creditors, except for a loss resulting from willful misfeasance, bad faith or negligence on its part in the performance of its duties under the IMS Agreement or reckless disregard of its obligations or duties under the IMS Agreement.
Changes to Investment Advisory Fee Rates
The Board has approved, and recommends that shareholders of sucheach IMS Fee FundsFund approve, an amendment to the IMS Agreement between Columbia Management and theColumbia Funds Series Trust II, on behalf of the IMS Fee Funds, that would, at current investment levels, increase the direct investment advisory fee rates payable by each IMS Fee Fund to Columbia Management at various asset levels.with respect to assets of the IMS Fee Funds invested in securities other than underlying funds advised by Columbia Management that pay a management fee. Except for the investment advisory fee rates, payable, an IMS Agreement for such IMS Fee Fund would remain the same in all respects.
As indicated above,Prior to November 2011, the IMS Fee Funds invested exclusively in underlying funds advised by Columbia Management. In November 2011, the Board approved a change to the principal investment strategies of the IMS Fee Funds to allow for direct investment in individual securities and derivatives. The proposed amendment is intended to provide shareholders of the IMS Fee Funds and the Legacy LifeGoal® Portfolios with a consistent pricing structure, and to compensate Columbia Management for the services it provides to the IMS Fee Funds with respect to investments in securities other than underlying funds advised by Columbia Management that pay a management fee. The proposed management fee is typically lower than current total underlying fund expenses, and, as a result, overall (i.e., direct
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plus indirect) expenses borne by shareholders would potentially fall as a result of an IMS Fee Fund’s investment in direct securities that are subject to the proposed IMS fee.
The proposed amendment to the IMS Agreement is partfor each IMS Fee Fund would include a three-part management fee schedule comprised of a group of related proposals(1) 0.00% on assets invested in Columbia proprietary funds (excluding any proprietary fund that are designed to enhance consistency and uniformity across the Combined Fund Complex. These proposals are intended to provide shareholders of the Combined Fund Complex with the potential to realize the full range of benefits resulting from a much larger mutual fund group, including:
Standardizingdoes not pay an investment advisory fee ratesto Columbia Management), (ii) 0.55% on assets that are invested in securities other than third-party advised mutual funds and total management fee rates (i.e., the investmentin Columbia Funds that do not pay an advisory fee rates(including exchange-traded funds, derivatives and individual securities) and (iii) 0.10% on assets invested in non-exchange traded third-party funds. Based on the administration/administrative fee rates), toallocation of the extent practicable, across fundsIMS Fee Funds’ assets as of August 31, 2012, the net increase in the Combined Fund Complex that are in the same investment category (e.g., the amendment would align the investment advisory fee rates of Columbia Select Small Cap Fund with those of other actively managed small-cap funds in the Combined Fund Complex) to promote uniformity of pricing among similar funds;
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Implementing contractual expense limitations that will generally cap total annual operating expense ratiosfees for each fund in the Combined Fund Complex at levels that are at or below the median net operating expense ratio of funds in the respective fund’s peer group (as determined annually after the initial term by an independent third-party data provider); and
Correlating investment advisory and administration/administrative fee rates across the Combined Fund Complex commensurate with the level of services being provided.
The investment advisory fee rates payable by the IMS Fee Funds would increase at various asset levels (with current effective advisory fees increasing by upwill range from 0.003% to 0.16% of average daily net assets depending on the IMS Fee Fund)0.0145%. Even though certain fee rates will increase for certain funds, including the IMS Fee Funds, the net effect of the larger group of proposals, which for many of the funds comprising the Combined Fund Complex include reductions in administrative fee rates and contractual expense limitations, is expected to be a reduction in the overall fees paid, on a cumulative basis, by the various funds comprising the Combined Fund Complex. Thus, on a cumulative basis, shareholders, many of whom own shares of more than one fund, may pay lower fees overall even if the fee rate of a particular fund is increasing.
Although the proposed amendment to the IMS Agreement would result in higher investment advisory fee rates payable by the IMS Fee Funds at various asset levels, it would not necessarily result in higher gross expenses for most of those Funds in light of their current asset levels and contemporaneous reductions in other fee rates. In this regard, for many of the IMS Fee Funds, at all or most asset levels, reductions in administrative fee rates (which do not require shareholder approval but are contingent on shareholder approval of Proposal 1) will fully offset increases in advisory fee rates.Unlike investment advisory fee rates, administrative fee rates may be increased in the future without a shareholder vote.
The following chart provides additional information on a Fund-by-Fund basis about current and proposed investment advisory fee rates and administrative fee rates for the IMS Fee Funds and illustrates the impact of the changes to investment advisory fee rates and administrative fee rates on a consolidated basis.basis, assuming each IMS Fee Fund’s assets are allocated as they were on August 31, 2012.
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Current and Proposed Management Fee Rates
| Current Management Fees | Proposed Management Fees | |||||||||||||||||||||||||||||||
Fund | Fund Average Daily Net Assets (in millions) | Current Advisory | Current Administrative | Total | Fund Average Daily Net Assets (in millions) | Proposed Advisory | Proposed Administrative | Total | ||||||||||||||||||||||||
Columbia Balanced Fund | All Assets | 0.500 | % | 0.00 | % | 0.500 | % |
| $0-$500 $500-$1,000 $1,000-$1,500 $1,500-$3,000 $3,000-$6,000 $6,000-$12,000 >$12,000 |
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| 0.660 0.615 0.570 0.520 0.510 0.490 0.490 | % % % % % % % |
| 0.060 0.055 0.050 0.050 0.040 0.040 0.030 | % % % % % % % |
| 0.720 0.670 0.620 0.570 0.550 0.530 0.520 | % % % % % % % | |||||||||||||
Columbia Bond Fund |
| $0-$500 $500-$1,000 $1,000-$1,500 $1,500-$3,000 $3,000-$6,000 >$6,000 |
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| 0.650 0.350 0.320 0.290 0.280 0.270 | % % % % % % |
| 0.150 0.150 0.150 0.150 0.150 0.150 | % % % % % % |
| 0.800 0.500 0.470 0.440 0.430 0.420 | % % % % % % |
| $0-$500 $500-$1,000 $1,000-$2,000 $2,000-$3,000 $3,000-$6,000 $6,000-$7,500 $7,500-$9,000 $9,000-$12,000 $12,000-$20,000 $20,000-$24,000 $24,000-$50,000 >$50,000 |
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| 0.430 0.430 0.420 0.400 0.400 0.380 0.365 0.360 0.350 0.340 0.320 0.300 | % % % % % % % % % % % % |
| 0.070 0.065 0.060 0.060 0.050 0.050 0.050 0.050 0.040 0.040 0.040 0.040 | % % % % % % % % % % % % |
| 0.500 0.495 0.480 0.460 0.450 0.430 0.415 0.410 0.390 0.380 0.360 0.340 | % % % % % % % % % % % % | ||||||||
Columbia Contrarian Core Fund |
| $0-$500 $500-$1,000 $1,000-$1,500 $1,500-$3,000 $3,000-$6,000 >$6,000 |
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| 0.700 0.650 0.600 0.550 0.530 0.510 | % % % % % % |
| 0.067 0.067 0.067 0.067 0.067 0.067 | % % % % % % |
| 0.767 0.717 0.667 0.617 0.597 0.577 | % % % % % % |
| $0-$500 $500-$1,000 $1,000-$1,500 $1,500-$3,000 $3,000-$6,000 $6,000-$12,000 >$12,000 |
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| 0.710 0.665 0.620 0.570 0.560 0.540 0.540 | % % % % % % % |
| 0.060 0.055 0.050 0.050 0.040 0.040 0.030 | % % % % % % % |
| 0.770 0.720 0.670 0.620 0.600 0.580 0.570 | % % % % % % % | ||||||||
Columbia Corporate Income Fund |
| $0-$250 $250-$500 $500-$1,000 $1,000-$1,500 $1,500-$3,000 $3,000-$6,000 >$6,000 |
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| 0.420 0.420 0.375 0.370 0.340 0.330 0.320 | % % % % % % % |
| 0.150 0.125 0.125 0.100 0.100 0.100 0.100 | % % % % % % % |
| 0.570 0.545 0.500 0.470 0.440 0.430 0.420 | % % % % % % % |
| $0-$500 $500-$1,000 $1,000-$2,000 $2,000-$3,000 $3,000-$6,000 $6,000-$7,500 $7,500-$9,000 $9,000-$12,000 $12,000-$20,000 $20,000-$24,000 $24,000-$50,000 >$50,000 |
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| 0.430 0.430 0.420 0.400 0.400 0.380 0.365 0.360 0.350 0.340 0.320 0.300 | % % % % % % % % % % % % |
| 0.070 0.065 0.060 0.060 0.050 0.050 0.050 0.050 0.040 0.040 0.040 0.040 | % % % % % % % % % % % % |
| 0.500 0.495 0.480 0.460 0.450 0.430 0.415 0.410 0.390 0.380 0.360 0.340 | % % % % % % % % % % % % | ||||||||
Columbia Emerging Markets Fund |
| $0-$750 $750-$1,000 $1,000-$1,500 $1,500-$3,000 $3,000-$6,000 >$6,000 |
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| 1.150 1.000 0.670 0.620 0.570 0.520 | % % % % % % |
| 0.200 0.200 0.200 0.200 0.200 0.200 | % % % % % % |
| 1.350 1.200 0.870 0.820 0.770 0.720 | % % % % % % |
| $0-$750 $750-$1,000 $1,000-$1,500 $1,500-$3,000 $3,000-$6,000 >$6,000 |
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| 1.270 1.125 0.800 0.750 0.710 0.660 | % % % % % % |
| 0.080 0.075 0.070 0.070 0.060 0.060 | % % % % % % |
| 1.350 1.200 0.870 0.820 0.770 0.720 | % % % % % % | ||||||||
Columbia Energy and Natural Resources Fund |
| $0-$1,000 $1,000-$1,500 $1,500-$3,000 $3,000-$6,000 >$6,000 |
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| 0.600 0.520 0.470 0.450 0.430 | % % % % % |
| 0.150 0.150 0.150 0.150 0.150 | % % % % % |
| 0.750 0.670 0.620 0.600 0.580 | % % % % % |
| $0-$1,000 $1,000-$1,500 $1,500-$3,000 $3,000-$6,000 >$6,000 |
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| 0.690 0.620 0.570 0.560 0.540 | % % % % % |
| 0.060 0.050 0.050 0.040 0.040 | % % % % % |
| 0.750 0.670 0.620 0.600 0.580 | % % % % % | ||||||||
| Current Management Fees | Proposed Management Fees | |||||||||||||||||||||||||||||||
Fund | Fund Average Daily Net Assets (in millions) | Current Advisory | Other Expenses | Total Direct Annual Fund Operating Expenses | Fund Average Daily Net Assets (in millions) | Proposed Advisory | Other Expenses | Total Direct Annual Fund Operating Expenses | ||||||||||||||||||||||||
| Columbia Capital Allocation Aggressive Portfolio- Class A | 475,766,458.22 | 0.00 | % | 0.49 | % | 0.49 | % | 475,766,458.22 | 0.01 | % | 0.49 | % | 0.50 | % | ||||||||||||||||||
| Columbia Capital Allocation Aggressive Portfolio- Class B | 38,182,737.53 | 0.00 | % | 1.24 | % | 1.24 | % | 38,182,737.53 | 0.01 | % | 1.24 | % | 1.25 | % | ||||||||||||||||||
| Columbia Capital Allocation Aggressive Portfolio- Class C | 35,485,551.04 | 0.00 | % | 1.24 | % | 1.24 | % | 35,485,551.04 | 0.01 | % | 1.24 | % | 1.25 | % | ||||||||||||||||||
| Columbia Capital Allocation Aggressive Portfolio- Class R | 61,977.17 | 0.00 | % | 0.70 | % | 0.70 | % | 61,977.17 | 0.01 | % | 0.70 | % | 0.71 | % | ||||||||||||||||||
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| Current Management Fees | Proposed Management Fees | |||||||||||||||||||||||||||||||
Fund | Fund Average Daily Net Assets (in millions) | Current Advisory | Other Expenses | Total Direct Annual Fund Operating Expenses | Fund Average Daily Net Assets (in millions) | Proposed Advisory | Other Expenses | Total Direct Annual Fund Operating Expenses | ||||||||||||||||||||||||
| Columbia Capital Allocation Aggressive Portfolio- Class K | 390,612.76 | 0.00 | % | 0.35 | % | 0.35 | % | 390,612.76 | 0.01 | % | 0.35 | % | 0.36 | % | ||||||||||||||||||
| Columbia Capital Allocation Aggressive Portfolio- Class Z | 196,177.26 | 0.00 | % | 0.24 | % | 0.24 | % | 196,177.26 | 0.01 | % | 0.24 | % | 0.25 | % | ||||||||||||||||||
| Columbia Capital Allocation Conservative Portfolio- Class A | 263,140,219.29 | 0.00 | % | 0.49 | % | 0.49 | % | 263,140,219.29 | 0.01 | % | 0.49 | % | 0.50 | % | ||||||||||||||||||
| Columbia Capital Allocation Conservative Portfolio- Class B | 19,657,586.82 | 0.00 | % | 1.24 | % | 1.24 | % | 19,657,586.82 | 0.01 | % | 1.24 | % | 1.25 | % | ||||||||||||||||||
| Columbia Capital Allocation Conservative Portfolio- Class C | 40,631,520.06 | 0.00 | % | 1.24 | % | 1.24 | % | 40,631,520.06 | 0.01 | % | 1.24 | % | 1.25 | % | ||||||||||||||||||
| Columbia Capital Allocation Conservative Portfolio- Class R | 31,706.08 | 0.00 | % | 0.75 | % | 0.75 | % | 31,706.08 | 0.01 | % | 0.75 | % | 0.76 | % | ||||||||||||||||||
| Columbia Capital Allocation Conservative Portfolio- Class K | 57,485.70 | 0.00 | % | 0.41 | % | 0.41 | % | 57,485.70 | 0.01 | % | 0.41 | % | 0.42 | % | ||||||||||||||||||
| Columbia Capital Allocation Conservative Portfolio- Class Z | 571,476.48 | 0.00 | % | 0.24 | % | 0.24 | % | 571,476.48 | 0.01 | % | 0.24 | % | 0.25 | % | ||||||||||||||||||
| Columbia Capital Allocation Moderate Portfolio- Class A | 1,279,621,848.16 | 0.00 | % | 0.43 | % | 0.43 | % | 1,279,621,848.16 | 0.00 | % | 0.43 | % | 0.43 | % | ||||||||||||||||||
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The fees shown in the above table do not account for any contractual expense limitation agreements between Columbia Management and the IMS Fee Funds. In this regard, Columbia Management has agreed to implement contractual expense limitations that will generally cap total annual operating expense ratios for each IMS Fee Fund at levels that are at or below the median net expense ratio of the funds in the respective IMS Fee Fund’s peer group. These commitments may mitigate the impact of any fee changes resulting from the adoption of standardized fee schedules.Appendix C shows current and proposed fee tables for each IMS Fee Fund that would experience an increase in its effective advisory fee rate.While Columbia Management does not currently expect to change its practice of establishing annual contractual expense limitations, as described below, any contractual expense limitation may be revised or discontinued upon its expiration, unless sooner terminated by the Board in its discretion.
Annually, after the initial term, an independent third-party data provider will determine the median net expense ratio of a Fund’s Class A shares peer group, which includes many (but not all) funds with similar strategies as the Fund, as determined by the independent third-party data provider. The independent third-party data provider’s determination will then be used to adjust the contractual expense limitation for Class A shares of such Fund, if necessary. Columbia Management may, from time to time, establish a contractual expense limitation that is lower than the median net expense ratio determined by the independent third-party data provider. Corresponding contractual expense limitations (adjusted to reflect differences in transfer agency and/or distribution and service (Rule 12b-1) fees) will be implemented for other share classes. Actual fees and expenses will vary based upon the size of the Fund and other factors, and may be higher or lower than the amounts shown inAppendix C. The expense caps shown inAppendix C reflect peer group median net expense ratios as of early 2010, which are likely to change from year to year but will remain in place until at least the date shown in Appendix C.The amounts that would have been paid to Columbia Management by the IMS Fee Funds during the most recently completed fiscal year under the proposed investment advisory fee rates are also set forth inAppendix C.Fund.
Columbia Management has informed the Board that the reductions in administrative fee rates shown above are contingent on shareholder approval of the proposed amendment for the particular IMS Fee Fund. If shareholders of an IMS Fee Fund failcontractually agreed to approve the proposed amendment on behalf of such Fund, then Columbia Management will continue to serve as investment manager to the Fund pursuant to the IMS Agreement. All terms and conditions of the current IMS Agreement that are currently in effect, including the current investment advisory fee rates, would remain in effect. In addition, for such an IMS Fee Fund, there would be no corresponding reduction in administrative fee rates as described above.
In a separate proxy solicitation, shareholders of several other funds within the Combined Fund Complex (each, a “Selling Fund”) are being asked to vote to approve a reorganization (a “Reorganization”) of their fund
-12-
intocap certain buying funds (each, a “Buying Fund”). The Reorganizations, which were proposed by Columbia Management following the Transaction, are intended to combine funds in the Combined Fund Complex with generally similar investment objectives, strategies and policies. As a result of a Reorganization, a Buying Fund would gain assets, which tends to lead to greater efficiency and may reduce total operating expenses. The Board has determined, among other things, that participation by each Fund that is a Buying Fund in the Reorganization is in the best interests of the Buying Fund and that the interests of shareholders of the Buying Fund would not be diluted as a result of the Reorganization.
Shareholdersexpenses of the IMS Fee Buying Funds are not being askedthrough May 31, 2013 to vote on the Reorganizations. However, the closingextent they would exceed an annual rate of the Reorganizations is subject to a number of conditions including,0.51% for the Reorganizations involving Columbia Balanced FundClass A, 1.26% for Class B, 1.26% for Class C, 0.76% for Class R, 0.44% for class K and Columbia Large Cap Growth Fund, which are both Buying Funds and IMS Fee Funds, approval of this Proposal 1 by the shareholders of such Funds. Therefore, even though shareholders of these Buying Funds are not being asked to vote on the Reorganization, approval of this Proposal 1 by shareholders of each such Buying Fund would satisfy one of the conditions of the proposed Reorganization. If shareholders of either such Fund fail to approve Proposal 1, the proposed Reorganization would not proceed, absent a waiver of this condition by the Selling Fund.
Accordingly, approval of this Proposal 1 by shareholders of Columbia Balanced Fund and Columbia Large Cap Growth Fund could benefit shareholders of such Funds by facilitating a Reorganization that results in an increase in its assets. Because there are numerous other conditions to closing, there can be no assurance that the Reorganization would be consummated, even if this condition is satisfied.0.26% for Class Z.
In September 2010,2012, the Board unanimously approved the proposed amendment to the IMS Agreement on behalf of the IMS Fee Funds which would increase the contractual investment advisory fee rates payable at various asset levels by each IMS Fee Fund to Columbia Management for investment advisory services.Funds. As detailed below, the Board held numerous meetings and discussions with the management team of Columbia Management and reviewed and considered materials in connection with the approval of the proposed investment advisory fee rates before determining to approve the amendment. The schedulesschedule of the current and proposed investment advisory fee rates for each IMS Fee Fund under its IMS Agreement areis set forth above in Changes“Changes to Investment Advisory Fee Rates –Current and Proposed Management Fee Rates.” The amounts that would have been paid to Columbia Management by the IMS Fee Funds during the most recently completed fiscal year under the amended IMS Agreement are set forth inAppendix B.
On
-14-
In April 30, 2010, Ameriprise Financial, Inc. acquired the long-term asset management business of Columbia Management Group, LLC, a subsidiary of Bank of America Corporation and the parent of the IMS Fee Funds’ prior investment adviser. In connection with that acquisition, the IMS Fee Funds entered into the current IMS Agreement with Columbia Management, a subsidiary of Ameriprise Financial, Inc.
Beginning in April 2010,2012, Columbia Management presented to the Advisory Fees and Expenses Committee (the “Committee”) of the Board a proposal to rationalize the fees and expenses, including the investment advisory fees, of the various registered investment companies in the Columbia Fund Complex. Because these funds were organized at different times by many different sponsors, their fees and expenses did not reflect a common overall design, and Columbia Management proposed to implement a more consistent schedule of fees for similar funds based on a uniform pricing model across all of the funds. In this regard, Columbia Management presented theits Contracts Committee with various data comparing current and proposed fee schedules to the fee schedules of peer funds, as selected by an independent third-party data provider.
While Columbia Management projected that the proposed rationalization would reduce the overall fees and expenses payable, on a cumulative basis, by the various funds comprising the Combined Fund Complex, it was expected that certain fees and expenses, including investment advisory fees, would increase for certain funds. At
-13-
the same time, Columbia Management presented the Committee with proposals to provide for consistent administration/administrative fee schedules across funds in the same asset class and a consistent transfer agency fee schedule across the funds, as well as initial proposals to merge various funds and reduce custody fees for the funds. In connection with these proposals, the Committee and the trustees considered a proposal by Columbia Management to contractually limit the total operating expenses (subject to certain exclusions, such as taxes, transaction fees or brokerage commissions, fees and expenses associated with investment in other pooled investment vehicles, including exchange traded funds, other affiliated and unaffiliated mutual funds, and other expenses that are deemed extraordinary by the Board) of funds, the expenses of which generally exceed the median net expenses of such fund’s Class A shares peer group (as determined annually by an independent third-party data provider), to such median net expenses (or a lower, agreed-upon rate), and to generally limit the total expenses of such funds’ other classes to a corresponding amount, adjusted to reflect any class-specific expenses (including transfer agency fees and payments under any distribution plan, shareholder servicing plan, and/or plan administration agreement).
The Committee and the trustees who are not “interested persons” (as defined in the 1940 Act) of theColumbia Funds Series Trust II (the “Independent Trustees”) requested and evaluated materials from, and were provided materials and information regarding the IMS Agreement by, Columbia Management. The Committee, at meetings held on April 20, 2010, May 3, 2010, June 7, 2010, July 27, 2010 and August 10, 2010, and the Independent Trustees, at meetings held on April 20, 2010, May 4, 2010, June 7, 2010 and August 11, 2010,in September 2012, reviewed the materials provided in connection with their consideration of the amendment to the IMS Agreement and other matters relating to the proposals and discussed them with representatives of Columbia Management. The Committee and the Independent Trustees also reviewed and considered information that they had previously received in connection with their most recent consideration and approvalrenewal of the current IMS Agreement with Columbia Management. They also consulted with Fund counsel and with the Independent Trustees’ independent legal counsel, who advised on the legal standards for consideration by the trustees and otherwise assisted the trustees in their deliberations. The trustees also met with, and reviewed and considered a report prepared and provided by, the independent fee consultant (the “Fee Consultant”) appointed by the Independent Trustees pursuant to an assurance of discontinuance entered into in 2005 by Columbia Management Advisors, LLC, the IMS Fee Funds’ prior adviser, with the New York Attorney General (“NYAG”) to settle a civil complaint filed by the NYAG relating to trading in mutual fund shares (the “NYAG Settlement”). Under the NYAG Settlement, the Fee Consultant’s role is to manage the process by which management fees are negotiated so that they are negotiated in a manner that is at arms’ length and reasonable. On August 10, 2010,September 12, 2012 the Committee recommended that the trustees approve the amendment to the IMS Agreement. On September 14, 2010,13, 2012, the trustees, including a majority of the Independent Trustees, approved the amendment to the IMS Agreement for each IMS Fee Fund, subject to shareholder approval.
The trustees considered all materials that they, their legal counsel or Columbia Management believed reasonably necessary to evaluate and to determine whether to approve the amendment to the IMS Agreement. TheIn addition to factors that led to the Trustee’s renewal of the IMS Amendment for each Fund in April 2012, the Trustees considered by the Committee andfollowing specific factors relating to the trusteesproposed amendment in recommending approval and approving the amendment to the IMS Agreement for each IMS Fee Fund included the following:Fund:
The expected benefits of continuing to retain Columbia Management as the IMS Fee Funds’ investment manager;
The terms and conditions of the IMS Agreement, including the proposed increase in the advisory fee schedule for each IMS Fee Fund;
The impact of the proposed changes in investment advisory fee rates as well as proposed changes in administrative services, transfer agency and custody fee rates, on each IMS Fee Fund’s total expense ratio;
For IMS Fee Funds other than Columbia Balanced Fund, Columbia High Yield Opportunity Fund, Columbia Intermediate Municipal Bond Fund, Columbia International Bond Fund, Columbia Large Cap Growth Fund, Columbia Small Cap Core Fund and Columbia Strategic Income Fund, the reduction in the rates payable under that IMS Fee Fund’s administrative services agreement;
-14-
The willingness of Columbia Management to agree to contractually limit or cap total operating expenses for IMS Fee Funds, so that total operating expenses (subject to certain exclusions, such as taxes, transaction fees or brokerage commissions, fees and expenses associated with investment in other pooled investment vehicles, including exchange traded funds, other affiliated and unaffiliated mutual funds, and other expenses that are deemed extraordinary by the Board) of class A shares were not expected to exceed the median net expenses of such fund’s class A shares peer group (as determined by an independent third-party data provider);
That Columbia Management, and not any IMS Fee Fund, would bear the costs of obtaining any necessary shareholder approvals of the amendment to the IMS Agreement;
The expected impact on expenses for certain IMS Fee Funds of proposed mergers; and
The expected benefits of further integrating the Combined Fund Complex by:
Standardizing investment advisory fee rates and total management fee rates (i.e., the investment advisory fee rates and the administration/administrative fee rates), to the extent practicable, across funds in the Combined Fund Complex that are in the same investment category to promote uniformity oftarget allocation portfolios by adopting a consistent pricing among similar funds;
Implementing contractual expense limitations that will generally cap total annual operating expense ratios for each fund in the Combined Fund Complex at levels that are at or below the median net operating expense ratio of funds in the respective fund’s peer group (as determined annually after the initial term by an independent third-party data provider); and
Correlating investment advisory and administration/administrative fee rates across the Combined Fund Complex commensurate with the level of services being provided.structure.
Nature, Extent and Quality of Services
The trustees considered the nature, extent and quality of services provided to the IMS Fee Funds by Columbia Management under the IMS Agreement, and the
-15-
resources dedicated to the IMS Fee Funds by Columbia Management and its affiliates. TheIn this regard, the trustees recalled and considered among other things,their analyses and conclusions in April 2012 that led to their renewal of each IMS Agreement. They recalled, in particular, their analysis of various reports and presentations they had received detailing the ability ofservices performed by Columbia Management, to attract, motivateas well as its expertise, resources and retain highly qualified research, advisory and supervisory investment professionals (including Columbia Management’s personnel and other resources, compensation programs for personnel involved in fund management, reputation and other attributes),capabilities. The Independent Trustees had considered many developments during 2011 concerning the portfolio management services provided by thoseColumbia Management, including, in particular, the continued investment professionals,in, and resources dedicated to, the trade executionIMS Fee Funds’ operations and the successful completion of various integration initiatives and the consolidation of dozens of Funds. The Independent Trustees noted the information they received concerning Columbia Management’s ability to retain key portfolio management personnel. The Independent Trustees also observed Columbia Management’s significant investment in upgrading technology (such as an equity trading system) and considered management’s commitments to enhance existing resources in this area.
In connection with the trustees’ evaluation of the overall package of services provided on behalfby Columbia Management, the trustees also recalled their consideration of the quality of administrative services provided to the IMS Fee Funds by Columbia Management. In addition, the trustees had reviewed the financial condition of Columbia Management (and its affiliates) and each entity’s ability to carry out its responsibilities under the IMS Agreement and the qualityFund’s other services agreements with affiliates of Columbia Management’s investment research capabilities and the other resources that it devotes to each IMS Fee Fund. For each IMS Fee Fund, the trustees also considered the potential benefits to shareholders of investing in a mutual fund that is part of a fund complex offering exposure to a variety of asset classes and investment disciplines and providing a variety of fund and shareholder services.Ameriprise Financial. The trustees also considereddiscussed the acceptability of the terms of the IMS Agreement (including the relatively broad scope of services required to be performed by Columbia Management). The trustees recalled their conclusion in April that the nature, extent and quality of services proposed to be providedbeing performed under the amended IMS Agreement were not expectedof a reasonably high quality and noted that in the short time since April, no new information had been provided to change. After reviewing thesewarrant a different conclusion.
Based on the foregoing, and related factors,based on other information received (both oral and written, including the information on investment performance referenced below) and other considerations, the trustees concluded, within the context of their overall conclusions, that the nature, extent and quality of the services to bebeing provided to each IMS Fee Fund under the amended IMS Agreement supported the approval of the amended IMS Agreement.
Investment Performance
The trustees reviewedrecalled their recent review of information about the performance of each IMS Fee Fund over various time periods, including information prepared by an independent third-party data provider that compared the performance of each IMS Fee Fund to the performance of peer groups of mutual funds and performance benchmarks. The trustees also reviewed a description of the third party’s methodology for identifying each Fund’s peer group for purposes of performance and expense comparisons. In the case of each IMS Fee Fund whose performance lagged that of a relevant peer group for certain (although not necessarily all) periods, the Board observed that the Fund’s performance reflected the interrelationship of market conditions with the particular investment Strategies employed by the past management team.
-16-
Comparative Fees, Costs of Services Provided and the Profits Realized by Columbia Management and its Affiliates from their Relationships with the Fund:
The trustees concluded thatrecalled their review of comparative fees and the costs of services being provided under the amended IMS Agreement. The trustees had considered detailed comparative information set forth in an annual report on fees and expenses, including, among other factors relevant to performance were sufficient, in lightthings, data (based on analyses conducted by an independent organization) showing a comparison of other considerations, to warrant approval of the amendment to the IMS Fee Fund’s IMS Agreement. Those factors varied from Fund to Fund, but included one or
-15-
more of the following: (i) thatexpenses with median expenses paid by funds in its comparative peer universe, as well as data showing the IMS Fee Fund’s performance, although laggingcontribution to Columbia Management’s profitability. The trustees had reviewed the fees charged to comparable institutional or other accounts/vehicles managed by Columbia Management and discussed differences in certain recent periods, was stronger overhow the longer term; (ii)products are managed and operated, noting no unreasonable differences in the levels of contractual fees.
The trustees accorded particular weight to the notion that the underperformance was attributable, tolevel of fees should reflect a significant extent, to investment decisionsrational pricing model applied consistently across the various product lines in the Fund family, while assuring that were reasonable and consistent with the IMS Fee Fund’s investment strategy and policies and that theoverall fees for each IMS Fee Fund was performing within a reasonable range of expectations, given those investment decisions, market conditions and(with few defined exceptions) are generally in line with the IMS Fee Fund’s investment strategy; (iii)“pricing philosophy” (i.e., that the IMS Fee Fund’s performance was competitive when compared to other performance benchmarks or peer groups; and (iv) that Columbia Management had taken or was considering steps designed to help improve the IMS Fee Fund’s investment performance, including, but not limited to, replacing portfolio managers, enhancing the resources supporting the portfolio managers, or modifying investment strategies.
The trustees noted the performancetotal expense ratio of each IMS Fee Fund asis at, or below, the median expense ratio of February 28, 2010, relative tofunds in the same comparison universe of such IMS Fee Fund). The trustees took into account that of a peer group selected by an independent third-party data provider for the purposes of performance comparisons, as set forth below.
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After reviewing these and related factors, the trustees concluded, within the context of their overall conclusions regardingeach IMS Fee Fund’s total expense ratio (after considering the proposed amendment to the IMS Agreement, thatFees as well as existing expense caps/waivers) was below the performance of each IMS Fee Fund and Columbia Management was sufficient to warrantpeer universe’s median expense ratio shown in the approval of the amendmentreports.
Further, with respect to the proposed imposition of an IMS Agreement pertaining to that Fund.
Investment Advisory Fee Rates and Other Expenses
The trustees considered that the proposed amendment to the IMS Agreement would increase the contractual investment advisory fee rates payable by each IMS Fee Fund at all or certain assets levels and would be otherwise identical toon each IMS Fee Fund’s current IMS Agreement. In addition,direct securities investments, the trusteesIndependent Trustees specifically considered that withwhile investment advisory fees are expected to increase very slightly, the proposed fee reductions under the administrative services agreement, the combined contractual fee rates
-16-
under the IMS Agreement and the proposed administrative services agreement wouldoverall Fund expenses may be lower than if there was no direct management fee at all and the current combined contractualIMS Fee Funds’ assets were invested exclusively in underlying funds advised by Columbia Management because the proposed advisory fee rates under those agreements atrate with respect to assets invested directly in securities is lower than the total indirect underlying fund fees and expenses of most asset levels for certain funds. The trustees also considered that basedfunds advised by Columbia Management.
Based on its expenses for its most recent fiscal year, adjusted to give effect toreview, the trustees concluded that the IMS AgreementFee Funds’ proposed management fee was fair and other proposed contractual changes, includingreasonable in light of the contractual expense limitations described above forextent and quality of services that the IMS Fee Funds each IMS Fee Fund’s contractual management fees and total net expenses would have been in the quintile of the peer group selected by an independent third-party data provider for purposes of expense comparisons, as set forth below.
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After reviewing these and related factors, the trustees concluded, within the context of their overall conclusions, that the investment advisory fee rates under the amended IMS Agreement and anticipated total expenses of each IMS Fee Fund supported the approval of the amendment to the IMS Agreement.
Costs of Services Provided and Profitability
The trustees considered information about the investment advisory fee rates charged by Columbia Management to comparable institutional accounts. In considering the fees charged to those accounts, the trustees took into account, among other things, Columbia Management’s representations about the differences between managing mutual funds as compared to other types of accounts, including differences in the services provided, differences in the risk profile of such business for Columbia Management, and the additional resources required to manage mutual funds effectively. In evaluating each IMS Fee Fund’s proposed advisory fee rates, the trustees also took into account the demands, complexity and quality of the investment management of the IMS Fee Fund.receive.
The trustees also considered the compensation directly or indirectly received byexpected profitability of Columbia Management and its affiliates in connection with their relationships withColumbia Management providing investment management services to the IMS Fee Funds. The trustees reviewed information provided by management as toIn this regard, the projectedTrustees considered their evaluation of profitability in April 2012 and their conclusion that profitability levels from the IMS Fee Funds were reasonable. They also observed that since the proposed fee should not have any direct material impact on the level of advisory fees paid to Columbia Management and its affiliatesthat, in fact, total fund expenses may be reduced, their conclusion in April regarding the reasonableness of theirprofitability remains applicable after considering the proposed fee change.
-17-
relationships with each IMS Fee Fund, and information about the allocation of expenses used to calculate profitability. When reviewing profitability, the trustees also considered court cases in which adviser profitability was an issue in whole or in part, the performance of the relevant IMS Fee Funds, the current and anticipated expense levels of each IMS Fee Fund, and the implementation of breakpoints and/or expense limitations with respect to each IMS Fee Fund.
After reviewing those and related factors, the trustees concluded, within the context of their overall conclusions, that the proposed changes to the advisory fee rates, and the related profitability to Columbia Management and its affiliates of their relationships with the IMS Fee Fund, supported the approval of the amendment to the IMS Agreement.
Economies of Scale
The trustees considered the existence of any economies of scale in the provision by Columbia Management of services to each IMS Fee Fund, to groups of related funds and to Columbia Management’s investment advisory clients as a whole, and the extent to which those economies of scale would be shared with the IMS Fee Funds through breakpoints in the proposed investment advisory fee rates or other means, such as expense limitation arrangements and additional investments by Columbia Management in investment, trading and compliance resources. The trustees notedTrustees observed that, allcurrently, the proposed fees would result in only an immaterial increase in direct advisory fees and, thus, economies of scale are not yet materially relevant. However, the Trustees agreed to monitor direct IMS fees of the IMS Fee Funds, were expectedgoing forward, to benefit from breakpoints and/or expense limitation arrangements. In considering those issues,assess the trustees also took note of the costs of the servicespotential for these Funds to be provided (both on an absolute and relative basis) and the projected profitability to Columbia Management and its affiliates of their relationships with the IMS Fee Funds, as discussed above. The trustees also noted the expected expense synergies and other anticipated benefits to Columbia Management and fund shareholders of both the rationalization of fees and expenses and the proposed mergers of certain IMS Fee Funds. After reviewing these and related factors, the trustees determined, within the context of their overall conclusions, that the extent to whichrealize economies of scale were expected to be shared with the IMS Fee Funds supported the approval of the amendment to the IMS Agreement.
Other Benefits to Columbia Management
The trustees received and considered information regarding any expected “fall-out” or ancillary benefits to be received by Columbia Management and its affiliates as a result of their relationships with the IMS Fee Funds, such as the provision by Columbia Management of administrative services to the IMS Fee Funds and the provision by Columbia Management’s affiliates of distribution and transfer agency services to the IMS Fee Funds, and how the proposed rationalization of fees and expenses might affect such benefits, including the fact that to the extent expenses payable by the affected Funds decrease, and the expenseshigher levels of such Funds wereassets may be invested in direct securities investments (and, thus, are subject to a contractual limit higher IMS fees) and/or cap, Columbia Management may pay lesstheir overall expense ratios increase in expense reimbursements. The trustees considered that the IMS Fee Funds’ distributor, an affiliate of Columbia Management, retains a portion of the distribution fees from the IMS Fee Funds and receives a portion of the sales charges on sales or redemptions of certain classes of shares of the IMS Fee Funds, and that other affiliates of Columbia Management receive various forms of compensationfuture in connection with their sale of shares of the IMS Fee Funds. The trustees also considered the benefits of research made available to Columbia Management by reason of brokerage commissions generated by the IMS Fee Funds’ securities transactions, and reviewed information about Columbia Management’s practices with respect to allocating portfolio brokerage and the use of “soft” commission dollars to pay for research. The trustees considered the possible conflicts of interest associated with certain fall-out or other ancillary benefits and the reporting, disclosure and other processes that would be in place to disclose and to monitor such possible conflicts of interest. The trustees recognized that Columbia Management’s profitability would be somewhat lower without these benefits.any material respect.
In their deliberations, the trustees did not identify any single item that was paramount or controlling and individual trustees may have attributed different weights to various factors. The trustees also evaluated all information available to them on a fund-by-fund basis, and their determinations were made separately in respect of each IMS Fee Fund.
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Based on the foregoing, the trustees concluded that the proposed investment advisory fee rates for each IMS Fee Fund are acceptable and competitive, including when compared to similar funds in the industry.acceptable. Accordingly, the Board unanimously approved the amendment to the IMS Agreement with respect to theeach IMS Fee FundsFund and unanimously recommends that shareholders of each such FundsFund vote “FOR” the approval of Proposal 1.
If shareholders of an IMS Fund approve the amendment to the IMS Agreement, the amendment will take effect for the IMS Fund shortly after the Meeting. If shareholders of an IMS Fund do not approve the amendment to the IMS Agreement, the IMS Fund will continue to operate under the current framework of the IMS Agreement.
Required Vote and Recommendation
For each IMS Fee Fund, approval of the amendment to the IMS Agreement requires the affirmative vote of a “majority of the outstanding voting securities” of the Fund, which for this purpose means the affirmative vote of the lesser of (i) more than 50% of the outstanding voting securities of such Fund or (ii) 67% or more of the outstanding voting securities of the Fund present at the Meeting if more than 50% of the outstanding voting securities of the Fund are present at the Meeting in person or represented by proxy. All shares of an IMS Fee Fund vote together as a single class on Proposal 1. Each IMS Fee Fund’s shareholders vote separately from each other Fund’s shareholders on Proposal 1.
THE BOARD UNANIMOUSLY RECOMMENDS THAT SHAREHOLDERS VOTEFOR THE APPROVAL OF THE PROPOSED AMENDMENT TO THE IMS AGREEMENT.
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PROPOSAL 2 – RECLASSIFICATION FROM A “DIVERSIFIED” FUND TO AApprove a Change to the Fund’s Fundamental Policy Regarding Concentration
“NON-DIVERSIFIED” FUNDColumbia Absolute Return Currency and Income Fund
The Board has approved, on behalf of Columbia Absolute Return Currency and Income Fund, and recommends that shareholders of Columbia Absolute Return Currency and Income Fund approve, a proposal to change the Columbia Absolute Return Currency and Income Fund’s fundamental policy regarding concentration.
Columbia California Tax-ExemptAbsolute Currency and Income Fund currently has a fundamental investment policy that it will not concentrate in any one industry, provided, however, that this restriction does not apply to securities or obligations issued or guaranteed by the U.S. Government, banks or bank holding companies or finance companies. For all other industries, this means that not more than 25% of the fund’s total assets, based on current market value at the time of purchase, can be invested in any one industry.
In January 2012, following an internal review that included portfolio management and product management teams, Columbia Connecticut Tax-ExemptManagement determined there was no present intention for Columbia Absolute Return Currency and Income Fund to reserve the right to concentrate in banks, bank holding companies or finance companies. As a result, Proposal 2 asks shareholders to approve the following as a new fundamental investment policy (the “New Policy”) for the Fund, replacing the Fund’s current concentration policy described above:
(The Fund will not purchase any securities which would cause 25% or more of the value of its total assets at the time of purchase to be invested in the securities of one or more issuers conducting their principal business activities in the same industry, provided that: (i) there is no limitation with respect to obligations issued or guaranteed by the U.S. Government, any state or territory of the United States or any of their agencies, instrumentalities or political subdivisions; and (ii) notwithstanding this limitation or any other fundamental investment limitation, assets may be invested in the securities of one or more management investment companies to the extent permitted by the 1940 Act, the rules and regulations thereunder and any applicable exemptive relief.
The New Policy is the standard concentration policy that is used across most of the Columbia Funds.
If shareholders approve the New Policy for Columbia Absolute Return Currency and Income Fund, the New Policy will take effect shortly after the Meeting. If shareholders do not approve the New Policy, Columbia Absolute Return Currency and Income Fund will continue to operate with its current fundamental investment policy regarding concentration.
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Required Vote and Recommendation
For Columbia Absolute Return Currency and Income Fund, approval of the New Policy requires the affirmative vote of a “majority of the outstanding voting securities” of Columbia Absolute Return Currency and Income Fund, which for this purpose means the affirmative vote of the lesser of (i) more than 50% of the outstanding voting securities of Columbia Absolute Return Currency and Income Fund or (ii) 67% or more of the outstanding voting securities of Columbia Absolute Return Currency and Income Fund present at the Meeting if more than 50% of the outstanding voting securities of Columbia Absolute Return Currency and Income Fund are present at the Meeting in person or represented by proxy. All shares of Columbia Absolute Return Currency and Income Fund vote together as a single class on this Proposal 2.
THE BOARD UNANIMOUSLY RECOMMENDS THAT SHAREHOLDERS VOTEFOR THE PROPOSED CHANGE TO THE FUNDAMENTAL POLICY REGARDING CONCENTRATION.
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PROPOSAL 3 – Approve a Change to the Fund’s Fundamental Policy Regarding Concentration
Columbia Seligman Global Technology Fund
Columbia Technology Fund
Columbia Variable Portfolio – Seligman Global Technology Fund
The applicable Board has approved, on behalf of Columbia Seligman Global Technology Fund, Columbia Technology Fund and Columbia Variable Portfolio – Seligman Global Technology Fund (each, a “Technology Fund” and collectively, the “Technology Funds”), and recommends that shareholders of each Technology Fund approve a proposal to change the Technology Fund’s fundamental policy regarding concentration to provide that the Technology Fund will, under normal market conditions, invest at least 25% of its total assets in securities of companies in the technology and related group of industries (the “New Policy”).
The current fundamental investment policy regarding concentration for each Technology Fund is provided below:
Columbia Seligman Global Technology Fund: The fund will not invest 25% or more of its total assets, at market value, in the securities of issuers in any particular industry, provided that this limitation shall exclude securities issued or guaranteed by the U.S. Government or any of its agencies or instrumentalities.
Columbia Technology Fund: The fund may not purchase any securities which would cause 25% or more of the value of its total assets at the time of purchase to be invested in the securities of one or more issuers conducting their principal business activities in the same industry, provided that: (i) there is no limitation with respect to obligations issued or guaranteed by the U.S. Government, and any state or territory of the United States or any of their agencies, instrumentalities or political subdivisions, and (ii) notwithstanding this limitation or any other fundamental investment limitation, assets may be invested in the securities of one or more management investment companies or subsidiaries to the extent permitted by the 1940 Act, the rules and regulations thereunder and any applicable exemptive relief.
Columbia Variable Portfolio – Seligman Global Technology Fund: The fund will not invest 25% or more of its total assets, at market value, in the securities of an issuer in any particular industry, provided that: 1) this limitation shall exclude securities issued or guaranteed by the U.S. Government or any of its agencies or instrumentalities; and 2) for the purpose of this limitation, mortgage-related securities do not constitute an industry.
Following an internal review, Columbia Management determined that each Technology Fund would be better able to pursue its investment objectives if it were to concentrate its investments in the technology and related group of industries. Historically, each Technology Fund has treated each of the internet software and services, IT consulting and other services, data processing and outsourced services, application software, systems software, home entertainment software, communications equipment, computer hardware, computer storage and peripherals, electronic equipment and instruments, electronic components, electronic manufacturing services, technology
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distributors, office electronics, semiconductor equipment, and semiconductors sub-industries as a separate industry for purposes of its policy generally prohibiting the Technology Fund from investing more than 25% of its total assets in the securities of issuers in any industry. Issuers in each of these sub-industries will be treated as belonging to the technology and related group of industries under the proposed policy. Columbia Management believes that the process of monitoring compliance with each Technology Fund’s concentration policy will be simplified, and each Technology Fund will be better able to pursue its investment objectives, if the Technology Fund’s fundamental policy relating to concentration is changed as proposed. Increasing the percentage of a Technology Fund’s total assets that can be invested in the securities of issuers in a single industry or group of related industries increases the risk that the Technology Fund will be adversely affected by events impacting such industries or group of related industries. Such a fund would be more significantly affected by events impacting such industries than would a fund that was not so concentrated.
For these reasons, Proposal 3 asks shareholders to approve the following as a new fundamental investment policy for each Technology Fund, replacing the Technology Fund’s current concentration policy described above:
The Fund will, under normal market conditions, invest at least 25% of the value of its total assets at the time of purchase in the securities of issuers conducting their principal business activities in the technology and related group of industries, provided that: (i) there is no limitation with respect to obligations issued or guaranteed by the U.S. Government, any state or territory of the United States or any of their agencies, instrumentalities or political subdivisions; and (ii) notwithstanding this limitation or any other fundamental investment limitation, assets may be invested in the securities of one or more management investment companies or subsidiaries to the extent permitted by the 1940 Act, the rules and regulations thereunder and any applicable exemptive relief.
If shareholders approve the New Policy for each Technology Fund, the New Policy will take effect shortly after the Meeting. If shareholders do not approve the New Policy, the Technology Funds will continue to operate with their current fundamental investment policies regarding concentration.
Required Vote and Recommendation
For each Technology Fund, approval of the New Policy requires the affirmative vote of a “majority of the outstanding voting securities” of the fund, which for this purpose means the affirmative vote of the lesser of (i) more than 50% of the outstanding voting securities of the fund or (ii) 67% or more of the outstanding voting securities of the fund present at the Meeting if more than 50% of the outstanding voting securities of the fund are present at the Meeting in person or represented by proxy. All shares of a Technology Fund vote together as a single class on this Proposal 3.
THE APPLICABLE BOARD UNANIMOUSLY RECOMMENDS THAT SHAREHOLDERS VOTE (OR PROVIDE INSTRUCTIONS TO VOTE)FOR THE PROPOSED CHANGE TO THE FUNDAMENTAL POLICY REGARDING CONCENTRATION.
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PROPOSAL 4 – Approve an Amendment to the Fund’s Investment Objective
Columbia Variable Portfolio – Short Duration U.S. Government Fund
The Board has approved, on behalf of Columbia Variable Portfolio – Short Duration U.S. Government Fund (the “Short Duration Fund”) and recommends that Contract Owners of the Short Duration Fund provide voting instructions to approve the conversion of its investment objective from “fundamental” (i.e., one that cannot be changed without shareholder approval) to “non-fundamental” (i.e., one that can be changed by the Board without shareholder approval) (the “Conversion”). Currently, the Short Duration Fund’s investment objective is to seek a “high level of current income and safety of principal consistent with an investment in U.S. government and government agency securities.” The Board has approved, subject to approval of the proposal to make the Short Duration Fund’s investment objective non-fundamental, changing the Short Duration Fund’s objective (the “New Objective”) to seek “current income as its primary objective and, as its secondary objective, preservation of capital.” Columbia Management believes the proposed investment objective is generally similar to the current investment objective, but will give the Fund greater investment flexibility.
By changing the investment objective to non-fundamental, the Board will have the authority to modify the Short Duration Fund’s investment objective in the future without shareholder approval. If shareholders of the Short Duration Fund approve the Conversion proposal, any future changes would only be subject to approval by the Board. Changing the investment objective from “fundamental” to “non-fundamental” will give Columbia Management and the Board additional flexibility to make changes to the Short Duration Fund’s investment objective that the Board deems appropriate in the future to address changing market conditions or performance issues, while saving the Short Duration Fund the cost of a proxy solicitation.
If this proposal is approved, the New Objective, consistent with the Board’s approval, would be implemented shortly after the Meeting. In addition, the Short Duration Fund would implement the following changes also approved by the Board: (i) changing the Short Duration Fund’s principal investment strategies to require the Short Duration Fund to invest, under normal circumstances, at least 80% of its net assets in mortgage related securities that either are issued or guaranteed as to principal and interest by the U.S. Government, its agencies, authorities or instrumentalities, and (ii) changing the Short Duration Fund’s benchmark from the Barclays U.S. 1-3 year Government Index to the Barclays U.S. Mortgage Backed Securities Index. If shareholders do not approve the Conversion proposal, the Short Duration Fund’s investment objective will remain as it is currently, and the Short Duration Fund’s investment objective will continue to be “fundamental.” This would require the Board to seek shareholder approval if, in the future, it decides to change the investment objective.
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Mortgage-Backed Securities Risk
The value of the Short Duration Fund’s mortgage-backed securities may be affected by, among other things, changes or perceived changes in: interest rates, factors concerning the interests in and structure of the issuer or the originator of the mortgages, the creditworthiness of the entities that provide any supporting letters of credit, surety bonds or other credit enhancements, or the market’s assessment of the quality of underlying assets. Mortgage-backed securities represent interests in, or are backed by, pools of mortgages from which payments of interest and principal (net of fees paid to the issuer or guarantor of the securities) are distributed to the holders of the mortgage-backed securities. Mortgage-backed securities can have a fixed or an adjustable rate. Payment of principal and interest on some mortgage-backed securities (but not the market value of the securities themselves) may be guaranteed (i) by the full faith and credit of the U.S. Government (in the case of securities guaranteed by the Government National Mortgage Association) or (ii) by its agencies, authorities, enterprises or instrumentalities (in the case of securities guaranteed by the Federal National Mortgage Association (FNMA) or the Federal Home Loan Mortgage Corporation (FHLMC)), which are not insured or guaranteed by the U.S. Government (although FNMA and FHLMC may be able to access capital from the U.S. Treasury to meet their obligations under such securities). Mortgage-backed securities issued by non-governmental issuers (such as commercial banks, savings and loan institutions, private mortgage insurance companies, mortgage bankers and other secondary market issuers) may be supported by various credit enhancements, such as pool insurance, guarantees issued by governmental entities, letters of credit from a bank or senior/subordinated structures, and may entail greater risk than obligations guaranteed by the U.S. Government, whether or not such obligations are guaranteed by the private issuer. Mortgage-backed securities are subject to prepayment risk, which is the possibility that the underlying mortgage may be refinanced or prepaid prior to maturity during periods of declining or low interest rates, causing the Short Duration Fund to have to reinvest the money received in securities that have lower yields. In addition, the impact of prepayments on the value of mortgage-backed securities may be difficult to predict and may result in greater volatility. Rising or high interest rates tend to extend the duration of mortgage-backed securities, making them more volatile and more sensitive to changes in interest rates.
Required Vote and Recommendation
Approval of the proposal requires the affirmative vote of a “majority of the outstanding voting securities” of the Short Duration Fund, which for this purpose means the affirmative vote of the lesser of (i) more than 50% of the outstanding voting securities of the Short Duration Fund or (ii) 67% or more of the outstanding voting securities of the Short Duration Fund present at the Meeting if more than 50% of the outstanding voting securities of the Short Duration Fund are present at the Meeting in person or represented by proxy. All shares of the Short Duration Fund vote together as a single class on this Proposal 4.
THE BOARD UNANIMOUSLY RECOMMENDS THAT CONTRACT OWNERS INSTRUCT THEIR PARTICIPATING INSURANCE COMPANIES TO VOTEFOR APPROVAL OF THE AMENDMENT TO THE INVESTMENT OBJECTIVE.
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PROPOSAL 5 – Approve a Reclassification of the Fund from a “Diversified” Fund to a “Non-Diversified” Fund
Columbia Seligman Communications and Information Fund
Columbia Seligman Global Technology Fund
Columbia Technology Fund
Columbia Variable Portfolio – Seligman Global Technology Fund
The applicable Board has approved, on behalf of Columbia Seligman Communications and Information Fund, Columbia Seligman Global Technology Fund, Columbia Technology Fund and Columbia Variable Portfolio – Seligman Global Technology Fund (each a “Policy Change Fund” and collectively, the “Policy Change Funds”)
The Board has approved, on behalf of each of its Policy Change Funds,, and recommends that shareholders of each Policy Change Fund approve, a proposal to change the classification of such Policy Change Fund from a “diversified” fund to a “non-diversified” fund, as such terms are defined in the 1940 Act (the(each, a “Reclassification” and collectively, the “Reclassifications”).
Each Policy Change Fund is currently classified as a diversified fund under the 1940 Act. This means that it may not, with respect to 75% of its total assets, invest more than 5% of its total assets in securities of any one issuer or purchase more than 10% of the outstanding voting securities of any one issuer, except obligations issued or guaranteed by the U.S. Government, its agencies or instrumentalities and except securities of other investment companies. With respect to the remaining 25% of the fund’s total assets, there is no limitation on the amount of assets the fund may invest in any one issuer. By changing its classification to a “non-diversified” fund, eacha Policy Change Fund would no longer be subject to these restrictions. Under the 1940 Act, shareholder approval is necessary to change from a diversified fund to a non-diversified fund.
Although approval of the Reclassification proposal may change certain diversification requirements under the 1940 Act, eacha Policy Change Fund would continue to be subject to certain independent diversification requirements under the Internal Revenue Code of 1986 (the “Code”). Under the Code, with respect to 50% of its total assets, a Policy Change Fund’s total assets, itFund may not invest more than 5% of its total assets in securities of any one issuer and may not purchase more than 10% of the outstanding voting securities of any one issuer, except obligations issued or guaranteed by the U.S. Government, its agencies or instrumentalities and except securities of other investment companies. With respect to the remaining 50% of the Policy Change Fund’sits assets, thesuch Policy Change Fund may not invest more than 25% of its assets in securities of any one issuer. These limits apply only as of the end of such quarter of eachthe Policy Change Fund’s fiscal year, so aeach Policy Change Fund may actually have a higher concentration in an issuer during periods between the ends of its fiscal quarters. There will be no adverse tax consequences as a result of the Reclassification.
Columbia Management is seeking the change to enhance its flexibility to invest each Policy Change Fund’s assets by easing a restriction on Columbia Management’s
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ability to manage the portfolio and grantingproviding the freedomauthority to invest larger portions of the Policy Change Fund’s portfolio in a single issuer, including potentially as much as 25% of its total assets in the securities of each of two issuers. The ReclassificationReclassifications would align Columbia Management’s flexibility forwith respect to the Policy Change Funds with the flexibility it already has, or is seeking to implement, with respect to the other single state municipalsimilar funds in the Combined Fund Complex.it advises. Columbia Management believes that this increased investment flexibility would permit it to more effectively manage eachthe Policy Change FundFunds and may provide more opportunities to enhance sucheach Policy Change Fund’s performance.
This increased investment flexibility may, however, make thea Policy Change Fund more susceptible to economic, business, political or other factors affecting the particular issuers in which it investsthey invest because larger investments may have a greater effect on a non-diversified fund’s performance.Therefore, theeach Policy Change Fund may be more exposed to the risks of loss and volatility from individual holdings than a fund that invests more broadly.broadly and is “diversified.” However, it is important to note that, with respect to 50% of eacha Policy Change Fund,Fund’s total assets, the additional diversification requirements under the Code will continue to limit investments to 5% of total assets in securities of any one issuer. It is also importantissuer to note that each Policy Change Fund will continue to be subject to its policy5% of investing, under normal circumstances, at least 80% of its net assets in municipal bonds that pay interest exempt from federal income tax and the individual income tax of the state in its name.total assets.
If shareholders approve the Reclassification proposal for aeach Policy Change Fund, the Reclassification will take effect shortly after the Meeting. If shareholders do not approve the Reclassification proposal, theeach Policy Change Fund will continue to operate as a “diversified” fund.
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Required Vote and Recommendation
For each Policy Change Fund, approval of the Reclassification requires the affirmative vote of a “majority of the outstanding voting securities” of the Policy Change Fund, which for this purpose means the affirmative vote of the lesser of (i)(a) more than 50% of the outstanding voting securities of such Policy Changethe Fund or (ii) 67% or more of the outstanding voting securities of the Policy Changesuch Fund present at the Meeting if more than 50% of the outstanding voting securities of the Policy Change Fund are present at the Meeting in person or represented by proxy. All shares of a Policy Change Fund vote together as a single class on this Proposal 2. Each Policy Change Fund’s shareholders vote separately from each other Policy Change Fund’s shareholders5.
At a meeting held on this Proposal 2.September 13, 2012, the Board of Columbia Seligman Communications and Information Fund, Columbia Seligman Global Technology Fund and Columbia Variable Portfolio – Seligman Global Technology Fund voted to present the Reclassification proposal for shareholder approval. At a meeting held on October 24, 2012, the Board of Columbia Technology Fund voted to present the Reclassification proposal for shareholder approval.
THE APPLICABLE BOARD UNANIMOUSLY RECOMMENDS THAT SHAREHOLDERSYOU VOTE (OR PROVIDE INSTRUCTIONS TO VOTE)FOR THE APPROVAL OF THE RECLASSIFICATION PROPOSAL.
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PROPOSAL 3 – CONVERSION OF FUNDAMENTAL OBJECTIVE AND POLICY
Columbia Real Estate Equity Fund
The Board has approved, on behalf of Columbia Real Estate Equity Fund, and recommends that shareholders of Columbia Real Estate Equity Fund approve, a proposal to convert Columbia Real Estate Equity Fund’s investment objective and the related 80% policy from “fundamental” to “non-fundamental”, as such terms are used in the 1940 Act (the “Conversion”).
By changing the investment objective and the related 80% policy to non-fundamental, the Board will have the authority to modify Columbia Real Estate Equity Fund’s investment objective or the related policy in the future without shareholder approval. Currently, Columbia Real Estate Equity Fund’s investment objective is to seek capital appreciation and above-average income by investing, under normal market conditions, at least 80% of its net assets (plus any borrowings for investment purposes) in the stocks of companies principally engaged in the real estate industry, including real estate investment trusts (“REITs”). A related policy states that, under normal circumstances, the Fund invests at least 80% of its net assets in equity securities of companies principally engaged in the real estate industry, including REITs. Columbia Management is not proposing to change the substance of either the investment objective or the related policy, nor are there any current plans to change either the investment objective or the related policy in the future.
If shareholders of Columbia Real Estate Equity Fund approve the Conversion proposal, any future changes would be subject to approval by the Board. In addition, Columbia Real Estate Equity Fund would be required to provide shareholders with at least 60 days prior notice of any future change to its policy of investing at least 80% of its net assets in equity securities of companies principally engaged in the real estate industry, including REITs.
Changing the investment objective and the related 80% policy from “fundamental” to “non-fundamental” will give Columbia Management and the Board additional flexibility to make changes to Columbia Real Estate Equity Fund’s investment objective and the related policy that the Board deems appropriate in the future to address changing market conditions or performance issues, while saving Columbia Real Estate Equity Fund the cost of a proxy solicitation.
If shareholders of Columbia Real Estate Equity Fund approve the Conversion proposal, the Conversion will take effect shortly after the Meeting. If shareholders do not approve the Conversion proposal, Columbia Real Estate Equity Fund’s investment objective and the related 80% policy will continue to be “fundamental,” and the Board will be required to seek shareholder approval if, in the future, it decides to change either the investment objective or the policy.
Required Vote and Recommendation
Approval of the Conversion proposal requires the affirmative vote of a “majority of the outstanding voting securities” of Columbia Real Estate Equity Fund, which for this purpose means the affirmative vote of the lesser of (i) more than 50% of the outstanding voting securities of Columbia Real Estate Equity Fund or (ii) 67% or more of the outstanding voting securities of Columbia Real Estate Equity Fund present at the Meeting if more than 50% of the outstanding voting securities of Columbia Real Estate Equity Fund are present at the Meeting in person or represented by proxy. All shares of Columbia Real Estate Equity Fund vote together as a single class on this Proposal 3.
THE BOARD UNANIMOUSLY RECOMMENDS THAT SHAREHOLDERS VOTEFOR THE APPROVAL OF THE CONVERSION PROPOSAL.
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PROXY VOTING AND SHAREHOLDER MEETING INFORMATION
For Columbia Absolute Return Currency and Income Fund, Columbia Capital Allocation Aggressive Portfolio, Columbia Capital Allocation Conservative Portfolio, Columbia Capital Allocation Moderate Portfolio, Columbia Seligman Communications and Information Fund, Columbia Seligman Global Technology Fund and Columbia Technology Fund (Proposals 1, 2, 3 and 5):
Proxy Solicitation
If you properly authorize your proxy through the internet or telephonically, or by executing and returning the enclosed Proxy Card, and your proxy is not subsequently revoked, your votes will be cast at the Meeting. If you give instructions, your votes will be cast in accordance with your instructions. If you return your signed Proxy Card without instructions, your votes will be cast, as applicable, (i) FOR the approval of the proposed amendment to the IMS Agreement between theColumbia Funds Series Trust II, on behalf of theeach IMS Fee Funds,Fund, and Columbia Management which provides for an increase in the investment advisory fee rates payable by each of the IMS Fee Funds at various asset levels (Proposal 1); (ii)FOR the approval of a change in the fundamental policy regarding concentration for Columbia Absolute Return Currency and Income Fund (Proposal 2); (iii) FOR the approval of a change in the fundamental policy regarding concentration for Columbia Seligman Global Technology Fund and Columbia Technology Fund (Proposal 3); and (iv) FOR the approval of the reclassification of each of Columbia California Tax-ExemptSeligman Communications and Information Fund, Columbia Seligman Global Technology Fund and Columbia Connecticut Tax-ExemptTechnology Fund from a “diversified” fund to a “non-diversified” fund, as such terms are defined in the 1940 Act (Proposal 2); and (iii)FOR the approval of the conversion of Columbia Real Estate Equity Fund’s investment objective and the related 80% policy from “fundamental” to “non-fundamental” (Proposal 3)5). Your votes will be cast in the discretion of the proxy holders on any other matter that may properly come before the Meeting, including, but not limited to, proposing and/or voting on the adjournment and/or postponement of the Meeting with respect to one or more proposals in the event that a quorum is not obtained and/or sufficient votes in favor of any proposal are not received. Not all proposals affect each Fund, and shareholders of a Fund will only be entitled to cast votes and authorize proxies on those proposals affecting the Fund in which they are shareholders. None of the Proposals is contingent on the other Proposals. In addition, approval of any Proposal by an affected Fund is not contingent on the approval of the same proposal by any other affected Fund.
If you execute and submit a proxy, you may revoke that proxy or change it by written notice to the Funds’ proxy solicitor at Computershare Fund Services, at (800) 708-7953,c/o Operation Department, 280 Oser Avenue, Hauppauge, NY 11788, by submitting a subsequently executed and dated Proxy Card, by authorizing your proxy by telephone or internet, or by attending the Meeting and casting your vote in person, or as otherwise permitted. Attending the Meeting in person will not automatically revoke your prior proxy. If you intend to vote in person at the Meeting, please call (800) 708-7953 to obtain important information regarding your attendance at the Meeting, including directions.
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Quorum and Methods of Tabulation
ThirtyFor each IMS Fee Fund, Columbia Absolute Return Currency and Income Fund, Columbia Seligman Communications and Information Fund and Columbia Seligman Global Technology Fund, ten percent (30.0%(10.0%) of the shares of a Fund or the Trust as a whole entitled to vote, present in person or by proxy, constitutes a quorum of such Fund or the Trust as a whole, respectively. For Columbia Technology Fund, thirty percent (30%) of the votes entitled to be cast at the Meeting, present at the Meeting in person or by proxy, constitutes a quorum. Abstentions and “broker non-votes” (i.e., shares held of record by a financial intermediary, such as a broker, or nominee, typically in “street name,” as to which proxies have been returned but (i) instructions have not been received from the beneficial owners or persons entitled to vote and (ii) the broker or nominee does not have discretionary voting power on a particular matter) will be treated as present for purposes of determining a quorum. A quorum of each IMS Fee Fund, Policy ChangeColumbia Absolute Return Currency and Income Fund, Columbia Seligman Communications and Information Fund, Columbia Seligman Global Technology Fund and Columbia Real Estate EquityTechnology Fund is required to take action on Proposals 1, 2, 3 and 3,5, respectively.
In the event that a quorum of shareholders of a Fund is not present at the Meeting or, even if such a quorum is so present, in the event that sufficient votes in favor of any proposal are not received and tabulated prior to the time the Meeting is called to order, the Meeting may be adjourned with respect to one or more Funds or the Trust and/or with respect to one or more proposals by the vote of a majority of the shares represented at the Meeting, either in person or by proxy, and further solicitations may be made.
Shareholders of record of each Fund at the close of business on December 17, 2010November 27, 2012 (the “Record Date”) are entitled to notice of, and to vote at, the Meeting. The number of outstanding shares of each class of shares of each Fund held on the Record Date is listed inAppendix D.D. Shareholders of the Funds are entitled to one vote for each dollar of net asset value (number of shares owned times net asset value per share) and each fractional dollar amount is entitled to a proportionate fractional vote.
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If your shares are held in an IRA account, you have the right to vote those shares. If you do not provide voting instructions with respect to your shares, your IRA custodian may or may not, depending upon the terms of your IRA agreement, vote shares for which it has not received your voting instructions. Please consult your IRA agreement and/or financial advisor for more information.
For each IMS Fee Fund, Policy ChangeColumbia Absolute Return Currency and Income Fund, Columbia Seligman Communications and Information Fund, Columbia Seligman Global Technology Fund and Columbia Real Estate EquityTechnology Fund, approval of Proposals 1, 2, 3 and 5, as applicable, requires the affirmative vote of a “majority of the outstanding voting securities” of the Fund, which for this purpose means the affirmative vote of the
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lesser of (i) more than 50% of the outstanding voting securities of the Fund or (ii) 67% or more of the outstanding voting securities of the Fund that are present at the Meeting if more than 50% of the outstanding voting securities of such Fund are present at the Meeting in person or represented by proxy. All shares of an IMS Fee Fund, Columbia Absolute Return Currency and Income Fund, Columbia Seligman Communications and Information Fund, Columbia Seligman Global Technology Fund and Columbia Technology Fund vote together as a single class on Proposals 1, 2, 3 respectively,and 5, as applicable, and each Fund’s shareholders vote separately from shareholders of other Funds that are voting on the same Proposal.
Effect of Abstentions and Broker Non-Votes
For all matters to be voted upon, an abstention or broker non-vote will not be considered a vote cast; however, an abstention or broker non-vote will be counted for purposes of attaining a quorum. Abstentions and broker non-votes will have the same effect as a vote against Proposals 1, 2, 3 and 5.
For Columbia Variable Portfolio – Short Duration U.S. Government Fund and Columbia Variable Portfolio – Seligman Global Technology Fund (Proposals 3, 4 and 5):
Voting Information
Separate accounts of insurance companies (the “Participating Insurance Companies”) established to fund benefits under variable annuity and/or variable life insurance policies (each a “Contract”) are the predominant shareholders of Columbia Variable Portfolio – Short Duration U.S. Government Fund and Columbia Variable Portfolio – Seligman Global Technology Fund (each, a “Variable Portfolio Fund” and collectively, the “Variable Portfolio Funds”). The Participating Insurance Companies generally vote the shares of the Variable Portfolio Funds that are attributable to such separate accounts in accordance with timely instructions received from owners of the Contracts (the “Contract Owners”) that have contract values allocated to such separate accounts invested in shares of a Variable Portfolio Fund. A Participating Insurance Company may determine what it deems to be timely instructions and, accordingly, may establish cut-off times for submitting voting instructions that are earlier than the date and time of the Meeting. The number of shares of a Variable Portfolio Fund for which a Contract Owner may give voting instructions is based on the number of shares, including fractions of shares, held in the separate account attributable to the Contract Owner’s Contract on the Record Date (as defined below).
If a voting instruction is not received from a Contract Owner, the Participating Insurance Company will vote the shares attributable to that Contract Owner in the same proportions (for, against or abstaining as to the applicable proposal) as all shares for which voting instructions have been received from other Contract Owners. If a Voting Instruction Card is received from a Contract Owner without indicating a voting instruction, the Participating Insurance Company will vote those shares, as applicable, (i) FOR the approval of a change to the fundamental policy regarding concentration
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for Columbia Variable Portfolio – Seligman Global Technology Fund (Proposal 3); (ii) FOR the approval of the amendment to Columbia Variable Portfolio – Short Duration U.S. Government Fund’s investment objective (Proposal 4); and (iii) FOR the approval of the reclassification of Columbia Variable Portfolio – Seligman Global Technology Fund from a “diversified” fund to a “non-diversified” fund (Proposal 5).As a result of these proportional voting procedures, a relatively small number of Contract Owners can determine the outcome of the votes.
Revocation of Voting Instructions
Contract Owners may revoke voting instructions by providing written notice of revocation to their Participating Insurance Company, by submitting a subsequently executed and dated Voting Instruction Card, or by submitting voting instructions by telephone or Internet. If a Contract Owner submits a voting instruction by telephone or through the Internet, he or she may revoke it by submitting a subsequent timely voting instruction by telephone or Internet or by completing, signing and timely returning a Voting Instruction Card dated as of a date that is later than his or her last telephone or Internet voting instruction.
Revocation of Proxies
Contract Owners may revoke prior proxy instructions by providing superseding proxy instructions by written notice to Computershare Fund services at 800-708-7953, by submitting a subsequently executed and dated proxy card, by authorizing their proxy by telephone or internet, or by attending the Meeting and casting their vote in person. Contract Owners who plan on attending the Meeting should call (866) 492-5763 to obtain important information regarding attendance at the Meeting, including directions.
Quorum and Methods of Tabulation
For each Variable Portfolio Fund, thirty percent (30%) of the shares of the Fund entitled to vote, present in person or by proxy, constitutes a quorum at a shareholders’ meeting. Because the Participating Insurance Companies intend to vote shares for which no voting instruction cards are returned in the same proportion as the shares for which voting instruction cards are returned, it is expected that the presence at the Meeting, in person or by proxy, of Participating Insurance Companies entitled to cast such votes will constitute a quorum regardless of the number of Contract Owners who provide voting instructions.
The inspectors of election will treat abstentions as present for purposes of determining a quorum. A quorum of shareholders of each Variable Portfolio Fund is required to take action at the Meeting on Proposals 3, 4 and 5. In the event that a quorum of shareholders of each Variable Portfolio Fund is not present at the Meeting or, even if such a quorum is so present, in the event that sufficient votes in favor of any proposal are not received and tabulated prior to the time the Meeting is called to order, the Meeting may be adjourned for a reasonable time after the date originally set for the Meeting with respect to each Variable Portfolio Fund by a majority of votes properly
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cast upon the question, without further notice, and further solicitations may be made. Because separate accounts of the Participating Insurance Companies are the predominant shareholders of record of each Variable Portfolio Fund, the Variable Portfolio Funds expect all such shares to be present at the Meeting.
If you were a Contract Owner with a beneficial interest in a Fund as of the close of business on November 27, 2012 (the “Record Date”), you are entitled to notice of the Meeting and have the right to instruct your Participating Insurance Company as to the manner in which shares of the Variable Portfolio Fund attributable to your Contract should be voted. The number of outstanding shares of each class of shares of each Variable Portfolio Fund held on the Record Date is listed inAppendix D. Shareholders of the Variable Portfolio Funds are entitled to one vote for each dollar of net asset value (number of shares owned times net asset value per share) and each fractional dollar amount is entitled to a proportionate fractional vote.
If your shares or Contract interests are held in an IRA account, you have the right to vote or provide voting instructions on those shares or interests. If you do not provide voting instructions with respect to your shares or interests, your IRA custodian may or may not, depending upon the terms of your IRA agreement, vote shares or provide voting instructions for interests for which it has not received your voting instructions. Please consult your IRA agreement and/or financial advisor for more information.
Required Vote
For each Variable Portfolio Fund, approval of Proposals 3, 4 and 5 requires the affirmative vote of a “majority of the outstanding voting securities” of the Fund, which for this purpose means the affirmative vote of the lesser of (i) more than 50% of the outstanding voting securities of the Fund or (ii) 67% or more of the outstanding voting securities of the Fund that are present at the Meeting if more than 50% of the outstanding voting securities of suchthe Fund are present at the Meeting in person or represented by proxy. All shares of an IMS Fee Fund, Policy Change Fund and Columbia Real Estate Equitya Variable Portfolio Fund vote together as a single class on Proposals 1, 23, 4 and 3, respectively, and each Fund’s shareholders vote separately from shareholders of other Funds that are voting on the same Proposal.5.
Effect of Abstentions and Broker Non-Votes
For all matters to be voted upon, an abstention or broker non-vote will not be considered a vote cast,cast; however, an abstention or broker non-vote will be counted for purposes of attaining a quorum. Abstentions and broker non-votes will have the same effect as a vote against Proposals 1, 23, 4 and 3 in respect of each Fund entitled to vote thereon.
Annual Meetings and Shareholder Proposals
The Trust does not regularly hold annual meetings of shareholders but may from time to time schedule special meetings. The Trust last called a shareholder meeting to elect trustees and approve the current IMS Agreement in March of this year. The Governance Committee of the Board typically will consider trustee candidates submitted by shareholders or from other sources as it deems appropriate. Any recommendation should be submitted to the Funds (Attention: Secretary). To be timely for consideration by the Governance Committee, the submission, including all required information, must be submitted in writing not less than 120 days before the date of the proxy statement for the previous year’s annual meeting of shareholders, if such a meeting is held. Otherwise, such submission shall be subject to the timeline requirements set forth below for submission of other shareholder proposals.
Any submission should include, at a minimum, the following information as to each individual proposed for election as a trustee: the name, age, business address, residence address and principal occupation or employment of such individual, the class, series and number of shares of stock of any Fund that are beneficially owned by such individual, the date such shares were acquired and the investment intent of such acquisition, whether such shareholder believes such individual would or would not qualify as a Non-Interested Trustee, and information regarding such individual that is sufficient, in the discretion of the Governance Committee, to make such determination, and all other information relating to such individual that is required to be disclosed in solicitation of proxies for election of trustees in an election contest (even if an election contest is not involved) or is otherwise required, in each case pursuant to Regulation 14A (or any successor provision) under the Exchange Act and the rules and regulations promulgated thereunder (including such individual’s written consent to being named in a proxy statement as a nominee and to serving as a trustee (if elected)). Shareholder submissions will be considered for inclusion in a proxy statement only if submitted by a date not earlier than the 365th calendar day before, and not later than the 60th calendar day before, the date on which the Board has set a meeting date for the shareholder meeting at which the election of trustees is to be considered. It is not anticipated that there will be a meeting to elect trustees before February 2016. The submission of a proposal does not guarantee its inclusion in a proxy statement and is subject to the limitations of U.S. federal securities laws. Shareholders may submit proposals in writing to c/o The Secretary of Columbia Funds Series Trust I, One Financial Center, Boston, Massachusetts 02111-2621.5.
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Columbia Management, located at One Financial Center,225 Franklin Street, Boston, Massachusetts 02111,02110, serves as the investment manager and administrator of the Funds. Columbia Management Investment Distributors, Inc., also located at One Financial Center,225 Franklin Street, Boston, Massachusetts 02111,02110, serves as the principal underwriter of the Funds. The Funds paid no commissions to any affiliated brokers during each Fund’s most recent fiscal year.
Other Matters to Come Before the Meeting
Columbia Management does not know of any matters to be presented at the Meeting other than those described in this Joint Proxy Statement. If other business should properly come before the Meeting, the persons named as proxies will vote thereon in accordance with their best judgment.
Appendix E to this Joint Proxy Statement lists the persons that, to the knowledge of the Funds, owned beneficially 5% or more of the outstanding shares of any class of any Fund as of November 30, 2010.October 31, 2012. A shareholder who owns beneficially, directly or indirectly, more than 25% of any Fund’s voting securities is presumed to be a “control person” (as defined in the 1940 Act) of such Fund. The Trustees and officers of the Trust,Trusts, in the aggregate, owned less than 1% of each class of each Fund’s outstanding shares as of November 30, 2010.October 31, 2012.
Expenses and Solicitation Activities
TheFor the IMS Fee Funds and Columbia Variable Portfolio – Short Duration U.S. Government Bond Fund, the expenses incurred in connection with the solicitation of proxies for the Meeting, including preparation, filing, printing, mailing and solicitation expenses, legal fees, out-of-pocket expenses and expenses of any proxy solicitation firm, will be paid separately by Columbia Management or an affiliated company and not by the Funds. For Columbia Absolute Return Currency and Income Fund, Columbia Seligman Communications and Information Fund, Columbia Seligman Global Technology Fund, Columbia Technology Fund and Columbia Variable Portfolio – Seligman Global Technology Fund, such expenses incurred in connection with the solicitation of proxies for the Meeting will be borne directly by the Funds. In addition to the use of the mails, proxies may be solicited personally or via facsimile, telephone or the Internet by trustees, officers and employees of the Trust,Trusts, Columbia Management and Columbia Management Investment Distributors, Inc. The Funds have engaged Computershare Fund Services to assist in soliciting at an estimated cost of approximately $941,194.01,$484,018, of which $173,493 will be paid by Columbia Management or an affiliated company.company on behalf of the IMS Fee Funds and Columbia Variable Portfolio – Short Duration U.S. Government Bond Fund and $310,525 will be allocated to each of Columbia Absolute Return Currency and Income Fund, Columbia Seligman Communications and Information Fund, Columbia Seligman Global Technology Fund, Columbia Technology Fund and Columbia Variable Portfolio – Seligman Global Technology Fund based on the number of relevant registered or beneficial accounts. The
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agreement with Computershare provides for indemnification of Computershare in certain circumstances and requires Computershare to keep certain information confidential.
Joint Proxy Statement Delivery
“Householding” is the term used to describe the practice of delivering one copy of a document to a household of shareholders instead of delivering one copy of a document to each shareholder in the household. Shareholders of the Funds who share a common address and who have not opted out of the householding process should receive a single copy of the Joint Proxy Statement together with one Proxy Card or Voting Instruction Card, as applicable, for each account. If you received more than one copy of the Joint Proxy Statement, you may elect to household in the future; if you received a single copy of the Joint Proxy Statement, you may opt out of householding in the future; and you may, in any event, obtain an additional copy of this Joint Proxy Statement byor ask questions about this Joint Proxy Statement by:
For each Variable Portfolio Fund: calling the Participating Insurance Company that issued your Contract.
For each other Fund: writing to the appropriate Fund at the following address: Computershare Fund Services, c/o Operation Department, 280 Oser Ave., Hauppauge, NY 11788, or by calling Computershare Fund Services toll free at (800) 708-7953.
The Funds’ most recent semi-annual and annual reports previously have been mailed to shareholders. Each Fund will furnish, without charge, a copy of its most recent annual report and if available, its most recent semiannual report subsequent to such annual report, to its shareholders on request. Additional copies of any of these documents are available by writing Columbia Management Investment Services Corp., P.O. Box 8081, Boston, MA 02266-8081 or by calling (800) 345-6611. All of these documents also are filed with the SEC and are available on the SEC’s website at www.sec.gov.
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PROMPT EXECUTION AND RETURN OF THE ENCLOSED PROXY CARD OR VOTING INSTRUCTION CARD IS REQUESTED. A PRE-ADDRESSED, POSTAGE-PAID ENVELOPE IS ENCLOSED FOR YOUR CONVENIENCE, AND TELEPHONE AND INTERNET VOTING IS AVAILABLE.
By order of the BoardBoards of Trustees,
Scott R. Plummer
Christopher O. Petersen
Secretary
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It is important that you authorize proxies promptly. All shareholders, including those who expect to attend the Meeting in person, are urged to authorize their proxy as soon as possible by accessing the Internet site listed on the enclosed Proxy Card or Voting Instruction Card, by calling the toll-free number listed on the enclosed Proxy Card or Voting Instruction Card, or by mailing the enclosed Proxy Card or Voting Instruction Card in the enclosed return envelope, which requires no postage if mailed in the United States. To enter the Meeting, you will need proof of ownership of the shares of the relevant Fund, such as your Proxy Card or Voting Instruction Card (or a copy thereof) or, if your shares are held of record by a financial intermediary, such as a broker, or nominee, a Proxy Card or Voting Instruction Card from the record holder or other proof of beneficial ownership, such as a brokerage statement showing your holdings of the shares of the relevant Fund.
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More Information onAbout Columbia Management
Executive Officers and Directors of Columbia Management
Columbia Management is a wholly owned subsidiary of Ameriprise Financial, Inc. The principal offices of Ameriprise Financial, Inc. are located at 1099 Ameriprise Financial Center, Minneapolis, MN 55474. Information regarding the officers and directors of Columbia Management is shown below.
Name, Year of Birth | Position with First | Position with Columbia | Principal Occupation(s)
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J. Kevin Connaughton (Born 1964)
Boston, MA | President (2009) | Senior Vice President and General Manager – Mutual Fund Products (2010) | President, RiverSource Funds since 2010; Senior Vice President and Chief Financial Officer, Columbia Funds, June 2008 – January 2009); President, Atlantic Funds and Nations Funds since 2009; Managing Director of Columbia Management Advisors, LLC, December 2004 – April 2010; Treasurer, Columbia Funds, October 2003 – May | |||
Michael G. Clarke (Born 1969)
Boston, MA |
(2009) | Vice President (2010) | Managing Director of Fund Administration, Columbia Management Advisors, LLC, from September 2004 to April 2010; senior officer of Columbia Funds and affiliated funds since 2002. | |||
Michael E. DeFao (Born 1968) 5228 Ameriprise Financial Center Minneapolis, MN 55474 | Vice President and Assistant Secretary (2011) | None | Vice President and Chief Counsel, Ameriprise Financial since May 2010; Associate General Counsel, Bank of America from June 2005 to April 2010. | |||
Joseph F. DiMaria (Born 1968)
Boston, MA |
(2008) | Vice President, Mutual Fund Administration (2010) | Director of Fund Administration, Columbia Management Advisors, LLC from January 2006 to April | |||
Paul B. Goucher (Born 1968) 5228 Ameriprise Financial Center Minneapolis, MN 55474 | Vice President and Assistant Secretary (2010) | None | Vice President and Chief Counsel of Ameriprise Financial since January 2010 (formerly Vice President and Group Counsel from November 2008 to January 2010); Director, Managing Director and General Counsel of J. & W. Seligman & Co. Incorporated (Seligman) from July 2008 to November 2008 and Managing Director and Associate General Counsel of Seligman from January 2005 to July 2008. | |||
Amy K. Johnson (Born 1965) 5228 Ameriprise Financial Center Minneapolis, MN 55474 |
(2010) | Senior Vice President and Chief Operating Officer (2010) |
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Name, Year of Birth | Position with First | Position with Columbia | Principal Occupation(s) During the Past Five Years | |||
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| Assistant Secretary (2005) | None | Counsel, Ameriprise Financial since May 2010; Assistant General Counsel, Bank of America from March 2005 to April 2010. | |||
Thomas P. McGuire (Born 1972) 225 Franklin Street Boston, MA 02110 | Chief Compliance Officer (2012) | Vice President – Asset Management Compliance, (2010) | Chief Compliance Officer, Ameriprise Certificate Company, since September 2010; | |||
Colin Moore (Born 1958) One Financial Center Boston, MA 02111 | Senior Vice President (2010) | Director and Chief Investment Officer (2010) | Manager, Managing Director and Chief Investment Officer of Columbia Management Advisors, LLC from 2007 to April 2010; Head of Equities, Columbia Management Advisors, LLC from 2002 to 2007. | |||
Paul D. Pearson (Born 1956) 225 Franklin Street Boston, MA 02110 | Vice President and Assistant Treasurer (2011) | Vice President, Investment Accounting (2010) | Vice President, Managed Assets, Investment Accounting, Ameriprise Financial Corporation. | |||
Christopher O. Petersen (Born 1970) 5228 Ameriprise Financial Center Minneapolis, MN 55474 |
(2010) | None | Vice President and Chief Counsel, Ameriprise Financial since January 2010 (formerly Vice President and Group Counsel or Counsel from April 2004 to January 2010); Assistant Secretary of RiverSource Funds since January 2007. | |||
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Scott R. Plummer (Born 1959) 5228 Ameriprise Financial Center Minneapolis, MN 55474 | Senior Vice President, and Assistant Secretary (2010) | Senior Vice President, Assistant Secretary and Chief Legal Officer (2005) | Vice President and Lead Chief Counsel – Asset Management, Ameriprise Financial, Inc. since May 2010 (previously Vice President and Chief Counsel – Asset Management, from 2005 to April 2010, and Vice President – Asset Management Compliance from 2004 to 2005); Vice President, Chief Counsel and Assistant Secretary, Columbia Management Investment Distributors, Inc. since 2008; Vice President, General Counsel and Secretary, Ameriprise Certificate Company since 2005; Chief Counsel, RiverSource Distributors, Inc. since 2006; Vice President, General Counsel and Secretary, RiverSource Funds, since December | |||
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Comparable Funds for Which Columbia Management Serves as Investment Adviser
Columbia Management currently manages certain funds with investment objectives that are similar to those of the IMS Fee Funds. The table below identifies each such fund, its net assets as of November 30, 2010,August 31, 2012, and Columbia Management’s investment advisory fee rate with respect to that fund. Shareholders of certain of those funds are being asked to approve new investment management services agreements or an amendment to the investment management services agreements that could change the fee rates for such funds. Except for the elimination of a performance incentive adjustment, if any, these fee changes are not reflected in the table below, which show fee rates as of November 30, 2010.August 31, 2012.
| Comparable Fund Assets as of 11/30/10 (Millions $) | ||||||||
Comparable Fund(s) | Comparable Fund – Advisory Fee Rate | |||||||
Fund(s) | Assets (Millions) | Fee Rate | ||||||
| Columbia Balanced Fund | Columbia Asset Allocation Fund II | 95.2 | All | 0.600%* | ||||
| Columbia Portfolio Builder Moderate Aggressive Fund | 1,131.9 | N/A | N/A | |||||
| Disciplined Asset Allocation Portfolios - Aggressive | 28.3 | |||||||
| Disciplined Asset Allocation Portfolios - Moderately Aggressive | 69.8 | |||||||
| Variable Portfolio Aggressive Portfolio | 2,701.5 | |||||||
| Variable Portfolio Moderately Aggressive Portfolio | 10,585.2 | |||||||
| Columbia Bond Fund | Columbia Core Bond Fund | 1,814.3 | $0 to $500 | 0.480% | ||||
| $500 to $1,000 | 0.430% | |||||||
| $1,000 to $1,500 | 0.400% | |||||||
| $1,500 to $3,000 | 0.370% | |||||||
| $3,000 to $6,000 | 0.360% | |||||||
| >$6,000 | 0.350% | |||||||
Columbia Contrarian | Columbia Blended Equity Fund | 119.5 | $0 to $500 | 0.750% | ||||
| Core Fund | $500 to $1,000 | 0.570% | ||||||
| $1,000 to $1,500 | 0.520% | |||||||
| $1,500 to $3,000 | 0.470% | |||||||
| $3,000 to $6,000 | 0.450% | |||||||
| >$6,000 | 0.430% | |||||||
| Columbia Large Core Quantitative Fund | 3,777.8 | $0 to $1,000 | 0.600% | |||||
| Columbia Large Growth Quantitative Fund | 747.8 | $1,000 to $2,000 | 0.575% | |||||
| RiverSource VP Dynamic Equity Fund | 1,314.7 | $2,000 to $3,000 | 0.550% | |||||
| $3,000 to $6,000 | 0.525% | |||||||
| $6,000 to $7,500 | 0.500% | |||||||
| $7,500 to $10,000 | 0.485% | |||||||
| $10,000 to $15,000 | 0.470% | |||||||
| $15,000 to $20,000 | 0.450% | |||||||
| $20,000 to $24,000 | 0.425% | |||||||
| $24,000 to $50,000 | 0.400% | |||||||
| >$50,000 | 0.375% | |||||||
| Columbia LifeGoal Growth Portfolio | 370.6 | All | 0.250% | |||||
| Columbia Large Cap Core Fund | 1,101.1 | $0 to $500 | 0.600% | |||||
| $500 to $1,000 | 0.550% | |||||||
| $1,000 to $1,500 | 0.500% | |||||||
| $1,500 to $3,000 | 0.450% | |||||||
| $3,000 to $6,000 | 0.430% | |||||||
| >$6,000 | 0.410% | |||||||
| Columbia Large Cap Enhanced Core Fund | 427.0 | $0 to $500 | 0.350% | |||||
| $500 to $1,000 | 0.300% | |||||||
| $1,000 to $1,500 | 0.250% | |||||||
| $1,500 to $3,000 | 0.200% | |||||||
| $3,000 to $6,000 | 0.180% | |||||||
| >$6,000 | 0.160% | |||||||
| RiverSource Partners Fundamental Value Fund | 526.3 | $0 to $500 | 0.730% | |||||
| Variable Portfolio Davis New York Venture Fund | 1,341.7 | $500 to $1,000 | 0.705% | |||||
| $1,000 to $2,000 | 0.680% | |||||||
| $2,000 to $3,000 | 0.655% | |||||||
| $3,000 to $6,000 | 0.630% | |||||||
| >$6,000 | 0.600% | |||||||
| Comparable Fund Assets as of 08/31/2012 (Millions $) | Comparable Fund Advisory Fee Rate | |||||||||||
Fund(s) | Comparable Fund(s) | Assets (Millions) | Fee Rate | |||||||||
Columbia Capital Allocation Aggressive Portfolio | Columbia Value and Restructuring Fund | 2,810 | $0 - $3,000 | 0.690% | ||||||||
| $3,000 - $6,000 | 0.560% | |||||||||||
| $6,000 - $12,000 | 0.540% | |||||||||||
| >$12,000 | 0.540% | |||||||||||
| Columbia Variable Portfolio – Large Core Quantitative Fund | ||||||||||||
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| 1,270 | $0 - $500 | 0.710% | ||||||||||
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| $500 - $1,000 | 0.660% | |||||||||||
| $1,000 - $3,000 | 0.565% | |||||||||||
| $3,000 - $6,000 | 0.560% | |||||||||||
| $6,000 - $12,000 | 0.540% | |||||||||||
| >$12,000 | 0.540% | |||||||||||
Columbia Capital Allocation Conservative Portfolio | Columbia Income Builder Fund | 868 | ALL | 0.00% | ||||||||
| Columbia Capital Allocation Moderate | ||||||||||||
| Conservative Portfolio (formerly, Columbia | ||||||||||||
| LifeGoal Income & Growth Portfolio) | 129 | Securities (including ETFs) | 0.55% | |||||||||
| Derivatives | 0.55% | |||||||||||
| Columbia Funds without a | ||||||||||||
| Management Fee | 0.55% | |||||||||||
Comparable Fund(s) Comparable Fund – Advisory Fee Rate Fund(s) Assets (Millions) Columbia Corporate Income Fund Columbia Emerging Markets Fund Columbia Energy and Natural Resources Fund Columbia High Yield Municipal Fund Columbia High Yield Opportunity Fund Fund(s) Columbia Capital Allocation Moderate Portfolio Allocation Fund Comparable
Fund Assets
as of
11/30/10
(Millions $) Fee Rate Riversource VP Core Equity Fund 180.5 All 0.400% None None None None Columbia Emerging Markets Opportunity Fund 672.3 $0 to $250 1.100% Threadneedle VP Emerging Markets 981.1 $250 to $500 1.080% $500 to $750 1.060% $750 to $1,000 1.040% $1,000 to $2,000 1.020% $2,000 to $7,500 1.000% $7,500 to $10,000 0.985% $10,000 to $15,000 0.970% $15,000 to $20,000 0.960% $20,000 to $24,000 0.935% $24,000 to $50,000 0.920% >$50,000 0.900% None None None None None None None None Columbia Conservative High Yield Fund 566.8 $0 to $500 0.600% $500 to $1,000 0.550% $1,000 to $1,500 0.520% >$1,500 0.490% Columbia High Income Fund 779.5 $0 to $500 0.550% $500 to $1,000 0.520% $1,000 to $1,500 0.490% >$1,500 0.460% Columbia High Yield Bond Fund 1,736.9 $0 to $1,000 0.590% RiverSource VP High Yield Bond Fund 675.2 $1,000 to $2,000 0.565% $2,000 to $3,000 0.540% $3,000 to $6,000 0.515% $6,000 to $7,500 0.490% $7,500 to $9,000 0.475% $9,000 to $10,000 0.450% $10,000 to $15,000 0.435% $15,000 to $20,000 0.425% $20,000 to $24,000 0.400% $24,000 to $50,000 0.385% >$50,000 0.360% Columbia Income Opportunities Fund 793.9 $0 to $1,000 0.610% RiverSource VP Income Opportunities Fund 1,070.4 $1,000 to $2,000 0.585% $2,000 to $3,000 0.560% $3,000 to $6,000 0.535% $6,000 to $7,500 0.510% $7,500 to $9,000 0.495% $9,000 to $10,000 0.470% $10,000 to $15,000 0.455% $15,000 to $20,000 0.445% $20,000 to $24,000 0.420% $24,000 to $50,000 0.405% >$50,000 0.380% Columbia High Yield Fund, VS 191.4 All 0.550% Variable Portfolio Eaton Vance Floating Rate Income Fund 773.4 $0 to $1,000 0.630% $1,000 to $2,000 0.580% >$2,000 0.530% Comparable
Fund Assets
as of
08/31/2012
(Millions $) Comparable
Fund Advisory
Fee Rate Comparable
Fund(s) Assets
(Millions) Fee Rate Third-party mutual funds 0.10% Columbia Funds with a Management Fee 0.00% Columbia Portfolio
Builder Moderate
Conservative Fund 567 ALL 0.00% Variable Portfolio –
Conservative
Portfolio 3,128 ALL 0.00% Variable Portfolio –
Moderately
Conservative
Portfolio 6,350 ALL 0.00% Columbia Variable
Portfolio – Asset 99 Securities (including ETFs) 0.550% Derivatives 0.550% Columbia Funds without a Management Fee 0.550% Third-party mutual funds 0.100% Columbia Funds with a Management Fee 0.000% Variable Portfolio –
Moderate Portfolio 21,503 ALL 0.00%
Comparable Fund(s) Comparable Fund – Advisory Fee Rate Fund(s) Assets (Millions) Columbia Intermediate Bond Fund Columbia Intermediate Municipal Bond Fund Columbia International Bond Fund Columbia Large Cap Growth Fund Comparable
Fund Assets
as of
11/30/10
(Millions $) Fee Rate Columbia Diversified Bond Fund 5,196.6 $0 to $1,000 0.480% RiverSource VP Diversified Bond Fund 2,932.3 $1,000 to $2,000 0.455% $2,000 to $3,000 0.430% $3,000 to $6,000 0.405% $6,000 to $7,500 0.380% $7,500 to $9,000 0.365% $9,000 to $10,000 0.360% $10,000 to $15,000 0.350% $15,000 to $20,000 0.340% $20,000 to $24,000 0.330% $24,000 to $50,000 0.310% >$50,000 0.290% Columbia Total Return Bond Fund 1,081.7 $0 to $500 0.400% $500 to $1,000 0.350% $1,000 to $2,000 0.320% $2,000 to $3,000 0.290% $3,000 to $6,000 0.280% >$6,000 0.270% RiverSource Intermediate Tax Exempt Fund 96.9 $0 to $1,000 0.390% $1,000 to $2,000 0.365% $2,000 to $3,000 0.340% $3,000 to $6,000 0.315% $6,000 to $7,500 0.290% $7,500 to $10,000 0.280% $10,000 to $15,000 0.270% $15,000 to $50,000 0.260% >$50,000 0.250% None None None None Columbia Marsico Focused Equities Fund 2,693.4 $0 to $500 0.750% Columbia Marsico Growth Fund 3,333.7 $500 to $1,000 0.700% $1,000 to $1,500 0.650% $1,500 to $3,000 0.600% $3,000 to $6,000 0.580% >$6,000 0.560% Columbia Select Large Cap Growth Fund 3,563.7 $0 to $1,000 0.750% $1,000 to $1,500 0.520% $1,500 to $3,000 0.470% $3,000 to $6,000 0.450% >$6,000 0.430% Seligman Growth Fund 1,628.8 $0 to $1,000 0.655% $1,000 to $2,000 0.615% >$2,000 0.565% Columbia Marsico Focused Equities Fund, VS 88.1 $0 to $500 0.740% Columbia Marsico Growth Fund, VS 362.7 $500 to $1,000 0.690% $1,000 to $1,500 0.640% $1,500 to $3,000 0.590% $3,000 to $6,000 0.570% >$6,000 0.550% Columbia Large Cap Growth Fund, VS 57.6 $0 to $1,000 0.500% >$1,000 0.450%
Comparable Fund(s) Comparable Fund – Advisory Fee Rate Fund(s) Assets (Millions) Columbia Pacific Asia Fund Columbia Select Large Cap Growth Fund Comparable
Fund Assets
as of
11/30/10
(Millions $) Fee Rate Columbia Select Large Cap Growth Fund, VS 5.3 All 0.750% Seligman VP Growth Fund 224.0 $0 to $1,000 0.600% $1,000 to $2,000 0.575% $2,000 to $3,000 0.550% $3,000 to $6,000 0.525% $6,000 to $7,500 0.500% $7,500 to $10,000 0.485% $10,000 to $15,000 0.470% $15,000 to $20,000 0.450% $20,000 to $24,000 0.425% $24,000 to $50,000 0.400% >$50,000 0.375% Variable Portfolio American Century Growth Fund 1,694.5 $0 to $1,000 0.650% Variable Portfolio Marsico Growth Fund 1,523.0 $1,000 to $2,000 0.600% Variable Portfolio UBS Large Cap Growth Fund 1,139.1 >$2,000 0.500% None None None None Columbia Marsico Focused Equities Fund 2,693.4 $0 to $500 0.750% Columbia Marsico Growth Fund 3,333.7 $500 to $1,000 0.700% $1,000 to $1,500 0.650% $1,500 to $3,000 0.600% $3,000 to $6,000 0.580% >$6,000 0.560% Columbia Large Cap Growth Fund 1,424.0 $0 to $200 0.700% $200 to $500 0.575% >$500 0.450% Seligman Growth Fund 1,628.8 $0 to $1,000 0.655% $1,000 to $2,000 0.615% >$2,000 0.565% Columbia Marsico Focused Equities Fund, VS 88.1 $0 to $500 0.740% Columbia Marsico Growth Fund, VS 362.7 $500 to $1,000 0.690% $1,000 to $1,500 0.640% $1,500 to $3,000 0.590% $3,000 to $6,000 0.570% >$6,000 0.550% Columbia Large Cap Growth Fund, VS 57.6 $0 to $1,000 0.500% >$1,000 0.450% Columbia Select Large Cap Growth Fund, VS 5.3 All 0.750% Seligman VP Growth Fund 224.0 $0 to $1,000 0.600% $1,000 to $2,000 0.575% $2,000 to $3,000 0.550% $3,000 to $6,000 0.525% $6,000 to $7,500 0.500% $7,500 to $10,000 0.485% $10,000 to $15,000 0.470% $15,000 to $20,000 0.450% $20,000 to $24,000 0.425% $24,000 to $50,000 0.400% >$50,000 0.375% Variable Portfolio American Century Growth Fund 1,694.5 $0 to $1,000 0.650% Variable Portfolio Marsico Growth Fund 1,523.0 $1,000 to $2,000 0.600% Variable Portfolio UBS Large Cap Growth Fund 1,139.1 >$2,000 0.500%
Comparable Fund(s) Comparable Fund – Advisory Fee Rate Fund(s) Assets (Millions) Columbia Select Small Cap Fund Columbia Small Cap Core Fund Comparable
Fund Assets
as of
11/30/10
(Millions $) Fee Rate Columbia Select Smaller Cap Value Fund 459.7 $0 to $500 0.935% Seligman Smaller Cap Value Portfolio 90.4 $500 to $1,000 0.840% >$1,000 0.745% Columbia Small Cap Core Fund 706.9 $0 to $500 0.750% $500 to $1,000 0.700% $1,000 to $1,500 0.650% $1,500 to $2,000 0.600% >$2,000 0.550% Columbia Small Cap Index Fund 1,632.0 All 0.100% RiverSource Disciplined Small and Mid Cap Equity Fund 139.0 $0 to $1,000 0.700% $1,000 to $2,000 0.675% $2,000 to $3,000 0.650% $3,000 to $6,000 0.625% $6,000 to $7,500 0.600% $7,500 to $10,000 0.575% $10,000 to $15,000 0.550% $15,000 to $24,000 0.525% $24,000 to $50,000 0.500% >$50,000 0.475% RiverSource Small Company Index Fund 386.7 $0 to $250 0.360% $250 to $500 0.350% $500 to $750 0.340% $750 to $1,000 0.330% $1,000 to $7,500 0.320% $7,500 to $15,000 0.300% $15,000 to $24,000 0.280% $24,000 to $50,000 0.260% >$50,000 0.240% Seligman VP Smaller Cap Value Fund 83.4 $0 to $250 0.790% $250 to $500 0.765% $500 to $750 0.740% $750 to $1,000 0.715% $1,000 to $2,000 0.690% >$2,000 0.665% Columbia Select Smaller Cap Value Fund 459.7 $0 to $500 0.935% Seligman Smaller Cap Value Portfolio 90.4 $500 to $1,000 0.840% >$1,000 0.745% Columbia Select Small Cap Fund 563.4 $0 to $1,000 0.750% >$1,000 0.620% Columbia Small Cap Index Fund 1,632.0 All 0.100% RiverSource Disciplined Small and Mid Cap Equity Fund 139.0 $0 to $1,000 0.700% $1,000 to $2,000 0.675% $2,000 to $3,000 0.650% $3,000 to $6,000 0.625% $6,000 to $7,500 0.600% $7,500 to $10,000 0.575% $10,000 to $15,000 0.550% $15,000 to $24,000 0.525% $24,000 to $50,000 0.500% >$50,000 0.475%
Comparable Fund(s) Comparable Fund – Advisory Fee Rate Fund(s) Assets (Millions) Columbia Strategic Income Fund Columbia Strategic Investor Fund Columbia Value and Restructuring Fund Comparable
Fund Assets
as of
11/30/10
(Millions $) Fee Rate RiverSource Small Company Index Fund 386.7 $0 to $250 0.360% $250 to $500 0.350% $500 to $750 0.340% $750 to $1,000 0.330% $1,000 to $7,500 0.320% $7,500 to $15,000 0.300% $15,000 to $24,000 0.280% $24,000 to $50,000 0.260% >$50,000 0.240% Seligman VP Smaller Cap Value Fund 83.4 $0 to $250 0.790% $250 to $500 0.765% $500 to $750 0.740% $750 to $1,000 0.715% $1,000 to $2,000 0.690% >$2,000 0.665% RiverSource Strategic Income Allocation Fund 353.7 $0 to $250 0.550% $250 to $500 0.525% $500 to $750 0.500% >$750 0.475% Columbia Portfolio Builder Aggressive Fund 547.6 N/A N/A Columbia Portfolio Builder Total Equity Fund 448.7 N/A N/A Columbia Select Opportunities Fund 94.1 $0 to $500 0.750% $500 to $1,000 0.570% $1,000 to $1,500 0.520% $1,500 to $3,000 0.470% $3,000 to $6,000 0.450% >$6,000 0.430% Columbia Disciplined Value Fund 203.6 $0 to $500 0.700% $500 to $1,000 0.650% $1,000 to $1,500 0.600% $1,500 to $3,000 0.550% $3,000 to $6,000 0.530% >$6,000 0.510% Columbia Large Value Quantitative Fund 292.4 $0 to $1,000 0.600% $1,000 to $2,000 0.575% $2,000 to $3,000 0.550% $3,000 to $6,000 0.525% $6,000 to $7,500 0.500% $7,500 to $10,000 0.485% $10,000 to $15,000 0.470% $15,000 to $20,000 0.450% $20,000 to $24,000 0.425% $24,000 to $50,000 0.400% >$50,000 0.375% Columbia Recovery & Infrastructure Fund 633.3 $0 to $1,000 0.650% $1,000 to $2,000 0.600% $2,000 to $6,000 0.550% >$6,000 0.500% Variable Portfolio MFS Value Fund 1,436.8 $0 to $1,000 0.650% $1,000 to $2,000 0.600% >$2,000 0.500%
APPENDIX B
Current and Proposed Fees Paid or Payable to the Prior Adviser or to Columbia Management and Affiliates
Advisory Fees Paid (Under Current Investment Advisory Fee Rates) and Payable (Under Proposed Investment Advisory Fee Rates)
Prior to May 1, 2010, Columbia Management Advisors, LLC (the “Prior Adviser”), a wholly owned subsidiary of Bank of America Corporation, was the Funds’ investment adviser and administrator. The Prior Adviser receivedadvisory fees from the Funds for its service as investment manager pursuant to the prior investment advisory agreement between the Funds and the Prior Adviser. On May 1, 2010, Columbia Management became the Funds’ investment manager and administrator. Columbia Management receives fees from the Funds for its service as investment manager pursuant to the current IMS Agreement between the Funds and Columbia Management. The amounts paid to the Prior Adviser for periods prior to May 1, 2010, and to Columbia Management for periods on and after May 1, 2010, are reflected in the following charts for the most recently completed fiscal year. In addition, the amounts that would have been payable to Columbia Managementpaid under the amendedproposed advisory fee schedule assume that each IMS AgreementFee Fund’s assets are reflected inallocated throughout the chart below.
The prior investment advisory agreement included fee schedules identical to those currently in effect.last fiscal year as they were as of January 31, 2012.
Fund Name | Column 1: Advisory Fees Paid During the Most Recently Completed Fiscal Year Net of Reimbursements and Waivers ($) | Column 2: Advisory Fees that Would Have Been Paid During the Most Recently Completed Fiscal Year Under Proposed Advisory Fees Exclusive of Reimbursements and Waivers ($) | Column 3: Difference between Column 1 and 2 (% Increase) | Column 4: Advisory Fees that Would Have Been Paid During the Most Recently Completed Fiscal Year under Current Advisory Fee Rates Exclusive of Reimbursements and Waivers ($) | Column 5: Difference between Columns 4 and 2 (% Increase) | |||||||||||||||
Fiscal Year Ended March 31, 2010 |
| |||||||||||||||||||
Columbia Bond Fund | 1,792,477.15 | 2,527,018.00 | 40.98 | % | 3,555,388.17 | -28.92 | % | |||||||||||||
Columbia Corporate Income Fund | 2,172,792.88 | 2,237,406.91 | 2.97 | % | 2,172,792.88 | 2.97 | % | |||||||||||||
Columbia Emerging Markets Fund | 3,926,290.43 | 4,491,030.00 | 14.38 | % | 4,059,903.96 | 10.62 | % | |||||||||||||
Columbia Energy and Natural Resources Fund | 3,382,994.82 | 3,897,656.00 | 15.21 | % | 3,382,994.82 | 15.21 | % | |||||||||||||
Columbia Intermediate Bond Fund | 6,768,041.18 | 8,939,741.79 | 32.09 | % | 6,768,041.18 | 32.09 | % | |||||||||||||
Columbia Pacific/Asia Fund | 87,544.10 | 254,136.00 | 190.29 | % | 219,006.72 | 16.04 | % | |||||||||||||
Columbia Select Large Cap Growth Fund | 10,061,635.35 | 10,045,606.00 | (0.16 | %) | 10,061,635.35 | (0.16 | %) | |||||||||||||
Columbia Select Small Cap Fund | 3,835,692.63 | 4,042,501.00 | 5.39 | % | 3,835,692.63 | 5.39 | % | |||||||||||||
Columbia Value and Restructuring Fund | 38,153,434.93 | 43,942,485.00 | 15.17 | % | 38,153,434.93 | 15.17 | % | |||||||||||||
Fiscal Year Ended May 31, 2010 |
| |||||||||||||||||||
Columbia High Yield Opportunity Fund | 1,908,262.71 | 2,004,112.29 | 5.02 | % | 2,049,447.53 | (2.21 | %) | |||||||||||||
Columbia International Bond Fund | 0 | 79,852.00 | 0.00 | % | 77,059.80 | 3.62 | % | |||||||||||||
Columbia Strategic Income Fund | 11,174,532.66 | 10,791,280.79 | (3.43 | %) | 11,174,532.66 | (3.43 | %) | |||||||||||||
Fund Name Fiscal Year Ended June 30, 2010 Columbia High Yield Municipal Fund Fiscal Year Ended August 31, 2010 Columbia Balanced Fund Columbia Strategic Investor Fund Fiscal Year Ended September 30, 2010 Columbia Contrarian Core Fund Columbia Large Cap Growth Fund Columbia Small Cap Core Fund Fiscal Year Ended October 31, 2010 Columbia Intermediate Municipal Bond Fund Fund Name Fiscal Year Ended January 31, 2012 Columbia Capital Columbia Capital Allocation Conservative Portfolio Columbia Capital Allocation Moderate Portfolio Column 1:
Advisory Fees
Paid During the
Most Recently
Completed Fiscal
Year Net of
Reimbursements
and Waivers ($) Column 2:
Advisory Fees that
Would Have Been Paid
During the Most
Recently Completed
Fiscal Year Under
Proposed Advisory Fees
Exclusive of
Reimbursements and
Waivers ($) Column 3:
Difference
between
Column 1
and 2 (%
Increase) Column 4:
Advisory Fees that Would
Have Been Paid During the
Most Recently Completed
Fiscal Year under Current
Advisory Fee Rates
Exclusive of
Reimbursements and
Waivers ($) Column 5:
Difference
between
Columns 4
and 2 (%
Increase) 2,886,093.50 3,306,671.00 14.57 % 2,886,093.50 14.57 % 1,392,482.67 1,837,866.00 31.98 % 1,392,482.67 31.98 % 3,226,189.89 5,511,704.94 70.84 % 4,623,341.73 19.21 % 3,320,258.00 3,595,709.42 8.30 % 3,533,971.43 1.75 % 6,603,459.23 8,568,649.50 29.76 % 6,603,459.23 29.76 % 4,378,058.35 4,620,046.00 5.53 % 4,378,058.35 5.53 % 10,049,028.38 9,553,641.00 (4.93 %) 9,847,972.46 (2.99 %) Column 1:
Direct Advisory
Fees Paid
During the
Most Recently
Completed
Fiscal Year
Net of
Reimbursements
and Waivers ($) Column 2:
Direct Advisory
Fees that Would
Have Been Paid
During the
Most Recently
Completed
Fiscal Year
Under Proposed
Advisory Fee
Schedule
Exclusive of
Reimbursements
and Waivers ($) Column 3:
Difference
between
Column 1
and 2
(% Increase) Column 4:
Advisory Fees
that Would
Have Been Paid
During the
Most Recently
Completed
Fiscal Year
under Current
Advisory Fee
Rates
Exclusive of
Reimbursements
and Waivers ($) Column 5:
Difference
between
Columns 4
and 2
(% Increase)
Allocation
Aggressive
Portfolio $ 0 17,823.91 100 % $ 0 100 % $ (13 ) 1,386.60 100 % $ 0 100 % $ 0 29,907.48 100 % $ 0 100 %
Amounts Paid by Each IMS Fee Fund to Columbia Management and Affiliates
The following table indicates amounts paid by each IMS Fee Fund to Columbia Management, an affiliated person of Columbia Management and/or an affiliated person of such affiliated person of Columbia Management (together with any affiliated person of Columbia Management, the “affiliates”) during each Fund’s last fiscal year:
Fund | Gross Investment Advisory Fees Paid to Columbia Management and/or its Affiliates ($) | Net Administrative Fees Paid to Columbia Management and/ or its Affiliates ($) | Net Distribution and/or Service Fees Paid to Columbia Management and/or its Affiliates ($) | Net Transfer Agency Fees Paid to Columbia Management and/or its Affiliates ($) | ||||||||||||
For Funds with Fiscal Year Ended March 31, 2010* |
| |||||||||||||||
Columbia Bond Fund | 0 | 0 | 0 | 0 | ||||||||||||
Columbia Corporate Income Fund | 0 | 0 | 0 | 0 | ||||||||||||
Columbia Emerging Markets Fund | 0 | 0 | 0 | 0 | ||||||||||||
Columbia Energy and Natural Resources Fund | 0 | 0 | 0 | 0 | ||||||||||||
Columbia Intermediate Bond Fund | 0 | 0 | 0 | 0 | ||||||||||||
Columbia Pacific/Asia Fund | 0 | 0 | 0 | 0 | ||||||||||||
Columbia Select Large Cap Growth Fund | 0 | 0 | 0 | 0 | ||||||||||||
Columbia Select Small Cap Fund | 0 | 0 | 0 | 0 | ||||||||||||
Columbia Value and Restructuring Fund | 0 | 0 | 0 | 0 | ||||||||||||
For Funds with Fiscal Year Ended May 31, 2010* |
| |||||||||||||||
Columbia High Yield Opportunity Fund | 167,714 | 0 | 64,207 | 66,654 | ||||||||||||
Columbia International Bond Fund | 84,065 | 150,254 | 3,260 | 2,827 | ||||||||||||
Columbia Strategic Income Fund | 949,914 | 0 | 442,014 | 402,934 | ||||||||||||
For Funds with Fiscal Year Ended June 30, 2010* |
| |||||||||||||||
Columbia High Yield Municipal Fund | 524,787 | 140,597 | 49,304 | 105,069 | ||||||||||||
For Funds with Fiscal Year Ended August 31, 2010* |
| |||||||||||||||
Columbia Balanced Fund | 516,594 | 0 | 154,034 | 179,219 | ||||||||||||
Columbia Strategic Investor Fund | 1,486,664 | 382,478 | 259,658 | 889,036 | ||||||||||||
For Funds with Fiscal Year Ended September 30, 2010* |
| |||||||||||||||
Columbia Contrarian Core Fund | 1,604,740 | 154,593 | 326,699 | 353,255 | ||||||||||||
Columbia Large Cap Growth Fund | 2,643,515 | 252,993 | 481,057 | 1,075,243 | ||||||||||||
Columbia Small Cap Core Fund | 4,773,254 | 0 | 828,343 | 1,018,747 | ||||||||||||
For Funds with Fiscal Year Ended October 31, 2010* |
| |||||||||||||||
Columbia Intermediate Municipal Bond Fund | 11,933,755 | 0 | 309,772 | 905,649 | ||||||||||||
Fund | Gross Investment Advisory Fees Paid to Columbia Management and/or its Affiliates ($) | Net Administrative Fees Paid to Columbia Management and/or its Affiliates ($) | Net Distribution and/or Service Fees Paid to Columbia Management and/or its Affiliates ($) | Net Transfer Agency Fees Paid to Columbia Management and/or its Affiliates ($) | ||||||||||||
For Funds with fiscal year ended January 31, 2012 |
| |||||||||||||||
Columbia Capital Allocation Aggressive Portfolio | $ | — | $ | 114,274.56 | $ | 2,101,155.23 | $ | 1,042,235.44 | ||||||||
Columbia Capital Allocation Conservative Portfolio | $ | — | $ | 57,671.35 | $ | 1,156,736.89 | $ | 372,506.72 | ||||||||
Columbia Capital Allocation Moderate Portfolio | $ | — | $ | 283,802.84 | $ | 5,279,220.13 | $ | 2,035,472.50 | ||||||||
Comparison of Current and Proposed Annual Operating Expenses of the IMS Fee Funds
Columbia Management and certain of its affiliates have contractually agreed to waive certain fees and/or reimburse certain expenses as described in the footnotes below. These fee waivers and expense reimbursements apply to total annual fund operating expenses (subject to certain exclusions, such as taxes, transaction fees or brokerage commissions, fees and expenses associated with investment in other pooled investment vehicles, including exchange traded funds and other affiliated and unaffiliated mutual funds, investment advisory fees, and other expenses that are deemed extraordinary by the Board). This fee and expense arrangement may only be modified or amended with approval from the Board and from all parties to such agreement, including the Fund and Columbia Management.
Columbia Balanced FundCapital Allocation Aggressive Portfolio
Columbia Balanced Fund | Class A | Class B | Class C | Class R | Class Z | |||||||||||||||||||||||||||||||||||
| Current | Proposed | Current | Proposed | Current | Proposed | Current | Proposed | Current | Proposed | |||||||||||||||||||||||||||||||
Management Fees1 | 0.50 | % | 0.72 | % | 0.50 | % | 0.72 | % | 0.50 | % | 0.72 | % | 0.50 | % | 0.72 | % | 0.50 | % | 0.72 | % | ||||||||||||||||||||
Distribution and/or Service (Rule 12b-1) Fees | 0.25 | % | 0.25 | % | 1.00 | % | 1.00 | % | 1.00 | % | 1.00 | % | 0.50 | % | 0.50 | % | 0.00 | % | 0.00 | % | ||||||||||||||||||||
Other Expenses2 | 0.21 | % | 0.20 | % | 0.21 | % | 0.20 | % | 0.21 | % | 0.20 | % | 0.21 | % | 0.20 | % | 0.21 | % | 0.20 | % | ||||||||||||||||||||
Total Annual Fund Operating Expenses3 | 0.96 | % | 1.17 | % | 1.71 | % | 1.92 | % | 1.71 | % | 1.92 | % | 1.21 | % | 1.42 | % | 0.71 | % | 0.92 | % | ||||||||||||||||||||
Columbia Capital | Class A | Class B | Class C | Class R | Class K | Class Z | ||||||||||||||||||||||||||||||||||||||||||
| Current | Proposed | Current | Proposed | Current | Proposed | Current | Proposed | Current | Proposed | Current | Proposed | |||||||||||||||||||||||||||||||||||||
Management Fees(1) | 0.02 | % | 0.02 | % | 0.02 | % | 0.02 | % | 0.02 | % | 0.02 | % | 0.02 | % | 0.02 | % | 0.02 | % | 0.02 | % | 0.02 | % | 0.02 | % | ||||||||||||||||||||||||
Distribution and/or Service (Rule 12b-1) Fees | 0.25 | % | 0.25 | % | 1.00 | % | 1.00 | % | 1.00 | % | 1.00 | % | 0.50 | % | 0.50 | % | 0.00 | % | 0.00 | % | 0.00 | % | 0.00 | % | ||||||||||||||||||||||||
Other Expenses(2) | 0.28 | % | 0.28 | % | 0.28 | % | 0.28 | % | 0.28 | % | 0.28 | % | 0.28 | % | 0.28 | % | 0.33 | % | 0.33 | % | 0.28 | % | 0.28 | % | ||||||||||||||||||||||||
Acquired fund fees and expenses | 0.79 | % | 0.79 | % | 0.79 | % | 0.79 | % | 0.79 | % | 0.79 | % | 0.79 | % | 0.79 | % | 0.79 | % | 0.79 | % | 0.79 | % | 0.79 | % | ||||||||||||||||||||||||
Total Annual Fund Operating Expenses | 1.34 | % | 1.34 | % | 2.09 | % | 2.09 | % | 2.09 | % | 2.09 | % | 1.59 | % | 1.59 | % | 1.14 | % | 1.14 | % | 1.09 | % | 1.09 | % | ||||||||||||||||||||||||
Less: Fee waiver/expenses reimbursement(3) | (0.04 | )% | (0.04 | )% | (0.04 | )% | (0.04 | )% | (0.04 | )% | (0.04 | )% | (0.04 | )% | (0.04 | )% | 0.00 | % | 0.00 | % | (0.04 | )% | (0.04 | )% | ||||||||||||||||||||||||
Total annual Fund operating expenses after fee waiver/expense | 1.30 | % | 1.30 | % | 2.05 | % | 2.05 | % | 2.05 | % | 2.05 | % | 1.55 | % | 1.55 | % | 1.14 | % | 1.14 | % | 1.05 | % | 1.05 | % | ||||||||||||||||||||||||
|
| (2) | Other expenses have been restated to reflect contractual changes to certain fees paid by the Fund. |
| (3) | Columbia Management and certain of its affiliates have contractually agreed to waive fees and/or to reimburse expenses (excluding certain fees and expenses, such as transaction costs and certain other investment related expenses, interest, taxes, acquired fund fees and expenses, investment advisory fees and extraordinary expenses) until May 31, 2013, unless sooner terminated at the sole discretion of the Fund’s Board of Trustees. Under this agreement, the Fund’s net operating expenses, subject to applicable exclusions, will not exceed the annual rates of 0.51% for Class A, 1.26% for Class B, 1.26% for Class C, 0.76% for Class R, 0.44% for class K and 0.26% for Class Z. |
Expense example:This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same. Since the waivers and/or reimbursements shown in the table above expire on May 31, 2013, they are only reflected in the 1 year example and for a 1 year
period in each of the 3, 5 and 10 year examples. Although your actual costs may be higher or lower, based on these assumptions your costs would be:
Columbia Capital Allocation Aggressive Portfolio | 1 year | 3 years | 5 years | 10 years | ||||||||||||||
| Class A | Current | $ | 624 | $ | 898 | $ | 1,193 | $ | 2,032 | |||||||||
| Proposed | $ | 624 | $ | 898 | $ | 1,193 | $ | 2,032 | ||||||||||
| Class B | Current | |||||||||||||||||
Did not sell your shares | $ | 128 | $ | 575 | $ | 1,049 | $ | 2,166 | ||||||||||
Sold your shares at end of period | $ | 628 | $ | 875 | $ | 1,249 | $ | 2,166 | ||||||||||
| Proposed | ||||||||||||||||||
Did not sell your shares | $ | 128 | $ | 575 | $ | 1,049 | $ | 2,166 | ||||||||||
Sold your shares at end of period | $ | 628 | $ | 875 | $ | 1,249 | $ | 2,166 | ||||||||||
| Class C | Current | |||||||||||||||||
Did not sell your shares | $ | 128 | $ | 575 | $ | 1,049 | $ | 2,360 | ||||||||||
Sold your shares at end of period | $ | 228 | $ | 575 | $ | 1,049 | $ | 2,360 | ||||||||||
| Proposed | ||||||||||||||||||
Did not sell your shares | $ | 128 | $ | 575 | $ | 1,049 | $ | 2,360 | ||||||||||
Sold your shares at end of period | $ | 228 | $ | 575 | $ | 1,049 | $ | 2,360 | ||||||||||
| Class R | Current | $ | 78 | $ | 421 | $ | 788 | $ | 1,825 | |||||||||
| Proposed | $ | 78 | $ | 421 | $ | 788 | $ | 1,825 | ||||||||||
| Class K | Current | $ | 45 | $ | 293 | $ | 561 | $ | 1,329 | |||||||||
| Proposed | $ | 45 | $ | 293 | $ | 561 | $ | 1,329 | ||||||||||
| Class Z | Current | $ | 27 | $ | 264 | $ | 521 | $ | 1,259 | |||||||||
| Proposed | $ | 27 | $ | 264 | $ | 521 | $ | 1,259 | ||||||||||
Columbia Capital Allocation Conservative Portfolio
Columbia Capital Conservative Portfolio | Class A | Class B | Class C | Class R | Class K | Class Z | ||||||||||||||||||||||||||||||||||||||||||
| Current | Proposed | Current | Proposed | Current | Proposed | Current | Proposed | Current | Proposed | Current | Proposed | |||||||||||||||||||||||||||||||||||||
Management Fees(1) | 0.02 | % | 0.02 | % | 0.02 | % | 0.02 | % | 0.02 | % | 0.02 | % | 0.02 | % | 0.02 | % | 0.02 | % | 0.02 | % | 0.02 | % | 0.02 | % | ||||||||||||||||||||||||
Distribution and/or Service (Rule 12b-1) Fees | 0.25 | % | 0.25 | % | 1.00 | % | 1.00 | % | 1.00 | % | 1.00 | % | 0.50 | % | 0.50 | % | 0.00 | % | 0.00 | % | 0.00 | % | 0.00 | % | ||||||||||||||||||||||||
Other Expenses(2) | 0.28 | % | 0.28 | % | 0.28 | % | 0.28 | % | 0.28 | % | 0.28 | % | 0.28 | % | 0.28 | % | 0.39 | % | 0.39 | % | 0.28 | % | 0.28 | % | ||||||||||||||||||||||||
Acquired fund fees and expenses | 0.57 | % | 0.57 | % | 0.57 | % | 0.57 | % | 0.57 | % | 0.57 | % | 0.57 | % | 0.57 | % | 0.57 | % | 0.57 | % | 0.57 | % | 0.57 | % | ||||||||||||||||||||||||
Total Annual Fund Operating Expenses | 1.12 | % | 0.12 | % | 1.87 | % | 1.87 | % | 1.87 | % | 1.87 | % | 1.37 | % | 1.37 | % | 0.98 | % | 0.98 | % | 0.87 | % | 0.87 | % | ||||||||||||||||||||||||
Less: Fee waiver/expenses reimbursement(3) | (0.04 | )% | (0.04 | )% | (0.04 | )% | (0.04 | )% | (0.04 | )% | (0.04 | )% | (0.04 | )% | (0.04 | )% | 0.00 | % | 0.00 | % | (0.04 | )% | (0.04 | )% | ||||||||||||||||||||||||
Total annual Fund operating expenses after fee waiver/expense | 1.08 | % | 1.08 | % | 1.83 | % | 1.83 | % | 1.83 | % | 1.83 | % | 1.33 | % | 1.33 | % | 0.98 | % | 0.98 | % | 0.83 | % | 0.83 | % | ||||||||||||||||||||||||
| (1) | Management fees are composed of an investment management service fee of 0.00% and an administration fee of 0.02%. Columbia Management has implemented a schedule for the Fund’s investment advisory fees whereby the Fund pays (i) 0.00% on its assets that are invested in Columbia proprietary funds (excluding any proprietary fund that does not pay an investment advisory fee |
Other expenses have been |
Columbia Management |
| expenses, |
Expense example:This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same. Since the waivers and/or reimbursements shown in the table above expire on May 31, 2013, they are only reflected in the 1 year example and for a 1 year period in each of the 3, 5 and 10 year examples. Although your actual costs may be higher or lower, based on these assumptions your costs would be:
Columbia Capital Allocation Conservative Portfolio | 1 year | 3 years | 5 years | 10 years | ||||||||||||||
Class A | Current | $ | 580 | $ | 811 | $ | 1,060 | $ | 1,775 | |||||||||
| Proposed | $ | 580 | $ | 811 | $ | 1,060 | $ | 1,775 | ||||||||||
Class B | Current | |||||||||||||||||
Did not sell your shares | $ | 186 | $ | 584 | $ | 1,008 | $ | 1,995 | ||||||||||
Sold your shares at end of period | $ | 686 | $ | 884 | $ | 1,208 | $ | 1,995 | ||||||||||
| Proposed | ||||||||||||||||||
Did not sell your shares | $ | 186 | $ | 584 | $ | 1,008 | $ | 1,995 | ||||||||||
Sold your shares at end of period | $ | 686 | $ | 884 | $ | 1,208 | $ | 1,995 | ||||||||||
Class C | Current | |||||||||||||||||
Did not sell your shares | $ | 186 | $ | 584 | $ | 1,008 | $ | 2,192 | ||||||||||
Sold your shares at end of period | $ | 286 | $ | 584 | $ | 1,008 | $ | 2,192 | ||||||||||
| Proposed | ||||||||||||||||||
Did not sell your shares | $ | 186 | $ | 584 | $ | 1,008 | $ | 2,192 | ||||||||||
Sold your shares at end of period | $ | 286 | $ | 584 | $ | 1,008 | $ | 2,192 | ||||||||||
Class R | Current | $ | 135 | $ | 430 | $ | 747 | $ | 1,648 | |||||||||
| Proposed | $ | 135 | $ | 430 | $ | 747 | $ | 1,648 | ||||||||||
Class K | Current | $ | 100 | $ | 312 | $ | 543 | $ | 1,206 | |||||||||
| Proposed | $ | 100 | $ | 312 | $ | 543 | $ | 1,206 | ||||||||||
Class Z | Current | $ | 85 | $ | 274 | $ | 479 | $ | 1,073 | |||||||||
| Proposed | $ | 85 | $ | 274 | $ | 479 | $ | 1,073 | ||||||||||
Columbia Capital Allocation Moderate Portfolio
Columbia Capital Allocation Moderate | Class A | Class B | Class C | Class R | Class K | Class Z | ||||||||||||||||||||||||||||||||||||||||||
| Current | Proposed | Current | Proposed | Current | Proposed | Current | Proposed | Current | Proposed | Current | Proposed | |||||||||||||||||||||||||||||||||||||
Management | 0.02 | % | 0.02 | % | 0.02 | % | 0.02 | % | 0.02 | % | 0.02 | % | 0.02 | % | 0.02 | % | 0.02 | % | 0.02 | % | 0.02 | % | 0.02 | % | ||||||||||||||||||||||||
Distribution and/or Service (Rule 12b-1) Fees | 0.25 | % | 0.25 | % | 1.00 | % | 1.00 | % | 1.00 | % | 1.00 | % | 0.50 | % | 0.50 | % | 0.00 | % | 0.00 | % | 0.00 | % | 0.00 | % | ||||||||||||||||||||||||
Other Expenses(2) | 0.22 | % | 0.22 | % | 0.22 | % | 0.22 | % | 0.22 | % | 0.22 | % | 0.22 | % | 0.22 | % | 0.32 | % | 0.32 | % | 0.22 | % | 0.22 | % | ||||||||||||||||||||||||
Acquired fund fees and expenses | 0.69 | % | 0.69 | % | 0.69 | % | 0.69 | % | 0.69 | % | 0.69 | % | 0.69 | % | 0.69 | % | 0.69 | % | 0.69 | % | 0.69 | % | 0.69 | % | ||||||||||||||||||||||||
Total Annual Fund Operating Expenses | 1.18 | % | 1.18 | % | 1.93 | % | 1.93 | % | 1.93 | % | 1.93 | % | 1.43 | % | 1.43 | % | 1.03 | % | 1.03 | % | 0.93 | % | 0.93 | % | ||||||||||||||||||||||||
| (1) | Management fees are composed of an investment management service fee of 0.00% and an administration fee of 0.02%. Columbia Management has implemented a schedule for the Fund’s investment advisory fees whereby the Fund pays (i) 0.00% on its assets that are invested in Columbia proprietary funds (excluding any proprietary fund that does not pay an investment advisory fee to Columbia Management), (ii) 0.55% on its assets that are invested in securities other than third party advised mutual funds and Columbia Funds that do not pay an advisory fee (including exchange-traded funds, derivatives and individual securities), and (iii) 0.10% on its assets that are invested in non-exchange traded third party funds. |
| (2) | Other expenses have been restated to reflect contractual changes to certain fees paid by the Fund. |
Expense example:This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be:
Columbia Balanced Fund | 1 year | 3 years | 5 years | 10 years | ||||||||||||||
Class A | Current | $ | 667 | $ | 863 | $ | 1,075 | $ | 1,685 | |||||||||
| Proposed | $ | 687 | $ | 925 | $ | 1,182 | $ | 1,914 | ||||||||||
Class B | Current | |||||||||||||||||
Did not sell your shares | $ | 174 | $ | 539 | $ | 928 | $ | 1,821 | ||||||||||
Sold your shares at end of period | $ | 674 | $ | 839 | $ | 1,128 | $ | 1,821 | ||||||||||
| Proposed | ||||||||||||||||||
Did not sell your shares | $ | 195 | $ | 603 | $ | 1,037 | $ | 2,048 | ||||||||||
Sold your shares at end of period | $ | 695 | $ | 903 | $ | 1,237 | $ | 2,048 | ||||||||||
Class C | Current | |||||||||||||||||
Did not sell your shares | $ | 174 | $ | 539 | $ | 928 | $ | 2,019 | ||||||||||
Sold your shares at end of period | $ | 274 | $ | 539 | $ | 928 | $ | 2,019 | ||||||||||
| Proposed | ||||||||||||||||||
Did not sell your shares | $ | 195 | $ | 603 | $ | 1,037 | $ | 2,243 | ||||||||||
Sold your shares at end of period | $ | 295 | $ | 603 | $ | 1,037 | $ | 2,243 | ||||||||||
Class R | Current | $ | 123 | $ | 384 | $ | 665 | $ | 1,466 | |||||||||
| Proposed | $ | 145 | $ | 449 | $ | 776 | $ | 1,702 | ||||||||||
Class Z | Current | $ | 73 | $ | 227 | $ | 395 | $ | 883 | |||||||||
| Proposed | $ | 94 | $ | 293 | $ | 509 | $ | 1,131 | ||||||||||
Columbia Bond Fund
Columbia Bond Fund | Class A | Class B | Class C | Class I | Class T | |||||||||||||||||||||||||||||||||||
| Current | Proposed | Current | Proposed | Current | Proposed | Current | Proposed | Current | Proposed | |||||||||||||||||||||||||||||||
Management Fees1 | 0.76 | % | 0.50 | % | 0.76 | % | 0.50 | % | 0.76 | % | 0.50 | % | 0.76 | % | 0.50 | % | 0.76 | % | 0.50 | % | ||||||||||||||||||||
Distribution and/or Service (Rule 12b-1) Fees | 0.25 | % | 0.25 | % | 1.00 | % | 1.00 | % | 1.00 | % | 1.00 | % | 0.00 | % | 0.00 | % | 0.00 | % | 0.00 | % | ||||||||||||||||||||
Other Expenses2 | 0.11 | % | 0.11 | % | 0.11 | % | 0.11 | % | 0.11 | % | 0.11 | % | 0.05 | % | 0.05 | % | 0.26 | %3 | 0.26 | %3 | ||||||||||||||||||||
Total Annual Fund Operating Expenses | 1.12 | % | 0.86 | % | 1.87 | % | 1.61 | % | 1.87 | % | 1.61 | % | 0.81 | % | 0.55 | % | 1.02 | % | 0.76 | % | ||||||||||||||||||||
Fee Waivers and/or Reimbursements4 | (0.32 | )% | (0.06 | )% | (0.32 | )% | (0.06 | )% | (0.32 | )% | (0.06 | )% | (0.30 | )% | (0.04 | )% | (0.32 | )% | (0.06 | )% | ||||||||||||||||||||
Total Annual Fund Operating Expenses after Fee Waivers and/or Reimbursements | 0.80 | % | 0.80 | % | 1.55 | % | 1.55 | % | 1.55 | % | 1.55 | % | 0.51 | % | 0.51 | % | 0.70 | % | 0.70 | % | ||||||||||||||||||||
Columbia Bond Fund | Class W | Class Y | Class Z | |||||||||||||||||||||
| Current | Proposed | Current | Proposed | Current | Proposed | |||||||||||||||||||
Management Fees1 | 0.76 | % | 0.50 | % | 0.76 | % | 0.50 | % | 0.76 | % | 0.50 | % | ||||||||||||
Distribution and/or Service (Rule 12b-1) Fees | 0.25 | % | 0.25 | % | 0.00 | % | 0.00 | % | 0.00 | % | 0.00 | % | ||||||||||||
Other Expenses2 | 0.11 | % | 0.11 | % | 0.05 | % | 0.05 | % | 0.11 | % | 0.11 | % | ||||||||||||
Total Annual Fund Operating Expenses | 1.12 | % | 0.86 | % | 0.81 | % | 0.55 | % | 0.87 | % | 0.61 | % | ||||||||||||
Fee Waivers and/or Reimbursements4 | (0.32 | )% | (0.06 | )% | (0.26 | )% | (0.04 | )% | (0.32 | )% | (0.06 | )% | ||||||||||||
Total Annual Fund Operating Expenses after Fee Waivers and/or Reimbursements | 0.80 | % | 0.80 | % | 0.55 | % | 0.51 | % | 0.55 | % | 0.55 | % | ||||||||||||
|
|
|
|
Columbia Capital Allocation Moderate Portfolio | 1 year | 3 years | 5 years | 10 years | ||||||||||||||
Class A | Current | $ | 624 | $ | 866 | $ | 1,127 | $ | 1,873 | |||||||||
| Proposed | $ | 624 | $ | 866 | $ | 1,127 | $ | 1,873 | ||||||||||
Class B | Current | |||||||||||||||||
Did not sell your shares | $ | 128 | $ | 542 | $ | 981 | $ | 2,008 | ||||||||||
Sold your shares at end of period | $ | 628 | $ | 842 | $ | 1,181 | $ | 2,008 | ||||||||||
| Proposed | ||||||||||||||||||
Did not sell your shares | $ | 128 | $ | 542 | $ | 981 | $ | 2,008 | ||||||||||
Sold your shares at end of period | $ | 628 | $ | 842 | $ | 1,181 | $ | 2,008 | ||||||||||
Class C | Current | |||||||||||||||||
Did not sell your shares | $ | 128 | $ | 542 | $ | 981 | $ | 2,205 | ||||||||||
Sold your shares at end of period | $ | 228 | $ | 542 | $ | 981 | $ | 2,205 | ||||||||||
| Proposed | ||||||||||||||||||
Did not sell your shares | $ | 128 | $ | 542 | $ | 981 | $ | 2,205 | ||||||||||
Sold your shares at end of period | $ | 228 | $ | 542 | $ | 981 | $ | 2,205 | ||||||||||
Class R | Current | $ | 78 | $ | 387 | $ | 719 | $ | 1,661 | |||||||||
| Proposed | $ | 78 | $ | 387 | $ | 719 | $ | 1,661 | ||||||||||
Class K | Current | $ | 45 | $ | 269 | $ | 512 | $ | 1,211 | |||||||||
| Proposed | $ | 45 | $ | 269 | $ | 512 | $ | 1,211 | ||||||||||
Class Z | Current | $ | 27 | $ | 230 | $ | 450 | $ | 1,086 | |||||||||
| Proposed | $ | 27 | $ | 230 | $ | 450 | $ | 1,086 | ||||||||||
This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same. Since the waivers and/or reimbursements shown in the table above expire on July 31, 2012, they are only reflected in the 1 year example and for a 1 year period in each of the 3, 5 and 10 year examples. Although your actual costs may be higher or lower, based on these assumptions your costs would be:
Columbia Bond Fund | 1 year | 3 years | 5 years | 10 years | ||||||||||||||
Class A | Current | $ | 652 | $ | 881 | $ | 1,127 | $ | 1,833 | |||||||||
Proposed | $ | 652 | $ | 828 | $ | 1,019 | $ | 1,570 | ||||||||||
Class B | Current | |||||||||||||||||
Did not sell your shares | $ | 158 | $ | 557 | $ | 981 | $ | 1,968 | ||||||||||
Sold your shares at end of period | $ | 658 | $ | 857 | $ | 1,181 | $ | 1,968 | ||||||||||
Proposed | ||||||||||||||||||
Did not sell your shares | $ | 158 | $ | 502 | $ | 870 | $ | 1,705 | ||||||||||
Sold your shares at end of period | $ | 658 | $ | 802 | $ | 1,070 | $ | 1,705 | ||||||||||
Class C | Current | |||||||||||||||||
Did not sell your shares | $ | 158 | $ | 557 | $ | 981 | $ | 2,164 | ||||||||||
Sold your shares at end of period | $ | 258 | $ | 557 | $ | 981 | $ | 2,164 | ||||||||||
Proposed | ||||||||||||||||||
Did not sell your shares | $ | 158 | $ | 502 | $ | 870 | $ | 1,906 | ||||||||||
Sold your shares at end of period | $ | 258 | $ | 502 | $ | 870 | $ | 1,906 | ||||||||||
Class I | Current | $ | 52 | $ | 229 | $ | 420 | $ | 974 | |||||||||
Proposed | $ | 52 | $ | 172 | $ | 303 | $ | 685 | ||||||||||
Class T | Current | $ | 72 | $ | 293 | $ | 532 | $ | 1,219 | |||||||||
Proposed | $ | 72 | $ | 237 | $ | 416 | $ | 937 | ||||||||||
Class W | Current | $ | 82 | $ | 324 | $ | 586 | $ | 1,335 | |||||||||
Proposed | $ | 82 | $ | 268 | $ | 471 | $ | 1,055 | ||||||||||
Class Y | Current | $ | 52 | $ | 229 | $ | 420 | $ | 974 | |||||||||
Proposed | $ | 52 | $ | 172 | $ | 303 | $ | 685 | ||||||||||
Class Z | Current | $ | 56 | $ | 246 | $ | 451 | $ | 1,043 | |||||||||
Proposed | $ | 56 | $ | 189 | $ | 334 | $ | 756 | ||||||||||
Columbia Contrarian Core Fund
Columbia Contrarian | Class A | Class B | Class C | Class I | Class R | |||||||||||||||||||||||||||||||||||
| Current | Proposed | Current | Proposed | Current | Proposed | Current | Proposed | Current | Proposed | |||||||||||||||||||||||||||||||
Management Fees1 | 0.76 | % | 0.77 | % | 0.76 | % | 0.77 | % | 0.76 | % | 0.77 | % | 0.76 | % | 0.77 | % | 0.76 | % | 0.77 | % | ||||||||||||||||||||
Distribution and/or Service (Rule 12b-1) Fees | 0.25 | % | 0.25 | % | 1.00 | % | 1.00 | % | 1.00 | % | 1.00 | % | 0.00 | % | 0.00 | % | 0.50 | % | 0.50 | % | ||||||||||||||||||||
Other Expenses2 | 0.17 | % | 0.17 | % | 0.17 | % | 0.17 | % | 0.17 | % | 0.17 | % | 0.08 | % | 0.08 | % | 0.17 | % | 0.17 | % | ||||||||||||||||||||
Total Annual Fund Operating Expenses | 1.18 | % | 1.19 | % | 1.93 | % | 1.94 | % | 1.93 | % | 1.94 | % | 0.84 | % | 0.85 | % | 1.43 | % | 1.44 | % | ||||||||||||||||||||
Fee Waivers and/or Reimbursements4 | (0.02 | )% | (0.03 | )% | (0.02 | )% | (0.03 | )% | (0.02 | )% | (0.03 | )% | 0.00 | % | (0.01 | )% | (0.02 | )% | (0.03 | )% | ||||||||||||||||||||
Total Annual Fund Operating Expenses after Fee Waivers and/or Reimbursements | 1.16 | % | 1.16 | % | 1.91 | % | 1.91 | % | 1.91 | % | 1.91 | % | 0.84 | % | 0.84 | % | 1.41 | % | 1.41 | % | ||||||||||||||||||||
Columbia Contrarian | Class T | Class W | Class Z | |||||||||||||||||||||
| Current | Proposed | Current | Proposed | Current | Proposed | |||||||||||||||||||
Management Fees1 | 0.76 | % | 0.77 | % | 0.76 | % | 0.77 | % | 0.76 | % | 0.77 | % | ||||||||||||
Distribution and/or Service (Rule 12b-1) Fees | 0.00 | % | 0.00 | % | 0.25 | % | 0.25 | % | 0.00 | % | 0.00 | % | ||||||||||||
Other Expenses2 | 0.47 | %3 | 0.47 | %3 | 0.17 | % | 0.17 | % | 0.17 | % | 0.17 | % | ||||||||||||
Total Annual Fund Operating Expenses | 1.23 | % | 1.24 | % | 1.18 | % | 1.19 | % | 0.93 | % | 0.94 | % | ||||||||||||
Fee Waivers and/or Reimbursements4 | (0.02 | )% | (0.03 | )% | (0.02 | )% | (0.03 | )% | (0.02 | )% | (0.03 | )% | ||||||||||||
Total Annual Fund Operating Expenses after Fee Waivers and/or Reimbursements | 1.21 | % | 1.21 | % | 1.16 | % | 1.16 | % | 0.91 | % | 0.91 | % | ||||||||||||
|
|
|
|
This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same. Since the waivers and/or reimbursements shown in the table above expire on January 31, 2013, they are only reflected in the 1 year example and for a 1 year period in each of the 3, 5 and 10 year examples. Although your actual costs may be higher or lower, based on these assumptions your costs would be:
Columbia Contrarian | 1 year | 3 years | 5 years | 10 years | ||||||||||||||
Class A | Current | $ | 686 | $ | 926 | $ | 1,185 | $ | 1,923 | |||||||||
Proposed | $ | 686 | $ | 928 | $ | 1,189 | $ | 1,933 | ||||||||||
Class B | Current | |||||||||||||||||
Did not sell your shares | $ | 194 | $ | 604 | $ | 1,040 | $ | 2,052 | ||||||||||
Sold your shares at end of period | $ | 694 | $ | 904 | $ | 1,240 | $ | 2,052 | ||||||||||
Proposed | ||||||||||||||||||
Did not sell your shares | $ | 194 | $ | 606 | $ | 1,044 | $ | 2,059 | ||||||||||
Sold your shares at end of period | $ | 694 | $ | 906 | $ | 1,244 | $ | 2,059 | ||||||||||
Class C | Current | |||||||||||||||||
Did not sell your shares | $ | 194 | $ | 604 | $ | 1,040 | $ | 2,252 | ||||||||||
Sold your shares at end of period | $ | 294 | $ | 604 | $ | 1,040 | $ | 2,252 | ||||||||||
Proposed | ||||||||||||||||||
Did not sell your shares | $ | 194 | $ | 606 | $ | 1,044 | $ | 2,262 | ||||||||||
Sold your shares at end of period | $ | 294 | $ | 606 | $ | 1,044 | $ | 2,262 | ||||||||||
Class I | Current | $ | 86 | $ | 268 | $ | 466 | $ | 1,037 | |||||||||
Proposed | $ | 86 | $ | 270 | $ | 470 | $ | 1,048 | ||||||||||
Class R | Current | $ | 144 | $ | 450 | $ | 780 | $ | 1,711 | |||||||||
Proposed | $ | 144 | $ | 453 | $ | 784 | $ | 1,722 | ||||||||||
Class R4 | Current | $ | 116 | $ | 362 | $ | 628 | $ | 1,386 | |||||||||
Proposed | $ | 116 | $ | 364 | $ | 632 | $ | 1,397 | ||||||||||
Class T | Current | $ | 691 | $ | 941 | $ | 1,210 | $ | 1,976 | |||||||||
Proposed | $ | 691 | $ | 943 | $ | 1,214 | $ | 1,986 | ||||||||||
Class W | Current | $ | 118 | $ | 373 | $ | 647 | $ | 1,430 | |||||||||
Proposed | $ | 118 | $ | 375 | $ | 651 | $ | 1,441 | ||||||||||
Class Z | Current | $ | 93 | $ | 294 | $ | 513 | $ | 1,141 | |||||||||
Proposed | $ | 93 | $ | 297 | $ | 517 | $ | 1,152 | ||||||||||
Columbia Corporate Income Fund
Columbia Corporate | Class A | Class B | Class C | Class I | Class W | |||||||||||||||
| Current | Proposed | Current | Proposed | Current | Proposed | Current | Proposed | Current | Proposed | |||||||||||
Management Fees1 | 0.55% | 0.50% | 0.55% | 0.50% | 0.55% | 0.50% | 0.55% | 0.50% | 0.55% | 0.50% | ||||||||||
Distribution and/or Service (Rule 12b-1) Fees | 0.25% | 0.25% | 1.00% | 1.00% | 1.00% | 1.00% | 0.00% | 0.00% | 0.25% | 0.25% | ||||||||||
Other Expenses2 | 0.12% | 0.17% | 0.12% | 0.17% | 0.12% | 0.17% | 0.06% | 0.06% | 0.12% | 0.17% | ||||||||||
Total Annual Fund Operating Expenses3 | 0.92% | 0.92% | 1.67% | 1.67% | 1.67% | 1.67% | 0.61% | 0.56% | 0.92% | 0.92% | ||||||||||
Columbia Corporate | Class Z | |||
| Current | Proposed | |||
Management Fees1 | 0.55% | 0.50% | ||
Distribution and/or Service (Rule 12b-1) Fees | 0.00% | 0.00% | ||
Other Expenses2 | 0.12% | 0.17% | ||
Total Annual Fund Operating Expenses3 | 0.67% | 0.67% | ||
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This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be:
Columbia Corporate | 1 year | 3 years | 5 years | 10 years | ||||||||||||||
Class A | Current | $ | 564 | $ | 754 | $ | 960 | $ | 1,553 | |||||||||
Proposed | $ | 564 | $ | 754 | $ | 960 | $ | 1,553 | ||||||||||
Class B | Current | |||||||||||||||||
Did not sell your shares | $ | 170 | $ | 526 | $ | 907 | $ | 1,777 | ||||||||||
Sold your shares at end of period | $ | 670 | $ | 826 | $ | 1,107 | $ | 1,777 | ||||||||||
Proposed | ||||||||||||||||||
Did not sell your shares | $ | 170 | $ | 526 | $ | 907 | $ | 1,777 | ||||||||||
Sold your shares at end of period | $ | 670 | $ | 826 | $ | 1,107 | $ | 1,777 | ||||||||||
Class C | Current | |||||||||||||||||
Did not sell your shares | $ | 170 | $ | 526 | $ | 907 | $ | 1,976 | ||||||||||
Sold your shares at end of period | $ | 270 | $ | 526 | $ | 907 | $ | 1,976 | ||||||||||
Proposed | ||||||||||||||||||
Did not sell your shares | $ | 170 | $ | 526 | $ | 907 | $ | 1,976 | ||||||||||
Sold your shares at end of period | $ | 270 | $ | 526 | $ | 907 | $ | 1,976 | ||||||||||
Class I | Current | $ | 62 | $ | 195 | $ | 340 | $ | 762 | |||||||||
Proposed | $ | 57 | $ | 179 | $ | 313 | $ | 701 | ||||||||||
Class W | Current | $ | 94 | $ | 293 | $ | 509 | $ | 1,131 | |||||||||
Proposed | $ | 94 | $ | 293 | $ | 509 | $ | 1,131 | ||||||||||
Class Z | Current | $ | 68 | $ | 214 | $ | 373 | $ | 835 | |||||||||
Proposed | $ | 68 | $ | 214 | $ | 373 | $ | 835 | ||||||||||
Columbia Emerging Markets Fund
Columbia Emerging | Class A | Class C | Class I | Class R | Class W | |||||||||||||||||||||||||||||||||||
| Current | Proposed | Current | Proposed | Current | Proposed | Current | Proposed | Current | Proposed | |||||||||||||||||||||||||||||||
Management Fees1 | 1.35 | % | 1.35 | % | 1.35 | % | 1.35 | % | 1.35 | % | 1.35 | % | 1.35 | % | 1.35 | % | 1.35 | % | 1.35 | % | ||||||||||||||||||||
Distribution and/or Service (Rule 12b-1) Fees | 0.25 | % | 0.25 | % | 1.00 | % | 1.00 | % | 0.00 | % | 0.00 | % | 0.50 | % | 0.50 | % | 0.25 | % | 0.25 | % | ||||||||||||||||||||
Other Expenses2 | 0.22 | % | 0.22 | % | 0.22 | % | 0.22 | % | 0.12 | % | 0.12 | % | 0.22 | % | 0.22 | % | 0.22 | % | 0.22 | % | ||||||||||||||||||||
Total Annual Fund Operating Expenses3 | 1.82 | % | 1.82 | % | 2.57 | % | 2.57 | % | 1.47 | % | 1.47 | % | 2.07 | % | 2.07 | % | 1.82 | % | 1.82 | % | ||||||||||||||||||||
Columbia Emerging | Class Z | |||||||
| Current | Proposed | |||||||
Management Fees1 | 1.35 | % | 1.35 | % | ||||
Distribution and/or Service (Rule 12b-1) Fees | 0.00 | % | 0.00 | % | ||||
Other Expenses2 | 0.22 | % | 0.22 | % | ||||
Total Annual Fund Operating Expenses3 | 1.57 | % | 1.57 | % | ||||
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This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be:
Columbia Emerging | 1 year | 3 years | 5 years | 10 years | ||||||||||||||
Class A | Current | $ | 749 | $ | 1,115 | $ | 1,504 | $ | 2,589 | |||||||||
Proposed | $ | 749 | $ | 1,115 | $ | 1,504 | $ | 2,589 | ||||||||||
Class C | Current | |||||||||||||||||
Did not sell your shares | $ | 260 | $ | 799 | $ | 1,365 | $ | 2,905 | ||||||||||
Sold your shares at end of period | $ | 360 | $ | 799 | $ | 1,365 | $ | 2,905 | ||||||||||
Proposed | ||||||||||||||||||
Did not sell your shares | $ | 260 | $ | 799 | $ | 1,365 | $ | 2,905 | ||||||||||
Sold your shares at end of period | $ | 360 | $ | 799 | $ | 1,365 | $ | 2,905 | ||||||||||
Class I | Current | $ | 150 | $ | 465 | $ | 803 | $ | 1,757 | |||||||||
Proposed | $ | 150 | $ | 465 | $ | 803 | $ | 1,757 | ||||||||||
Class R | Current | $ | 210 | $ | 649 | $ | 1,114 | $ | 2,400 | |||||||||
Proposed | $ | 210 | $ | 649 | $ | 1,114 | $ | 2,400 | ||||||||||
Class W | Current | $ | 185 | $ | 573 | $ | 985 | $ | 2,137 | |||||||||
Proposed | $ | 185 | $ | 573 | $ | 985 | $ | 2,137 | ||||||||||
Class Z | Current | $ | 160 | $ | 496 | $ | 855 | $ | 1,867 | |||||||||
Proposed | $ | 160 | $ | 496 | $ | 855 | $ | 1,867 | ||||||||||
Columbia Energy and Natural Resources Fund
Columbia Energy and | Class A | Class B | Class C | Class I | Class R | |||||||||||||||||||||||||||||||||||
| Current | Proposed | Current | Proposed | Current | Proposed | Current | Proposed | Current | Proposed | |||||||||||||||||||||||||||||||
Management Fees1 | 0.75 | % | 0.75 | % | 0.75 | % | 0.75 | % | 0.75 | % | 0.75 | % | 0.75 | % | 0.75 | % | 0.75 | % | 0.75 | % | ||||||||||||||||||||
Distribution and/or Service (Rule 12b-1) Fees | 0.25 | % | 0.25 | % | 1.00 | % | 1.00 | % | 1.00 | % | 1.00 | % | 0.00 | % | 0.00 | % | 0.50 | % | 0.50 | % | ||||||||||||||||||||
Other Expenses2 | 0.25 | % | 0.25 | % | 0.25 | % | 0.25 | % | 0.25 | % | 0.25 | % | 0.07 | % | 0.07 | % | 0.25 | % | 0.25 | % | ||||||||||||||||||||
Total Annual Fund Operating Expenses3 | 1.25 | % | 1.25 | % | 2.00 | % | 2.00 | % | 2.00 | % | 2.00 | % | 0.82 | % | 0.82 | % | 1.50 | % | 1.50 | % | ||||||||||||||||||||
Columbia Energy and | Class Z | |||||||
| Current | Proposed | |||||||
Management Fees1 | 0.75 | % | 0.75 | % | ||||
Distribution and/or Service (Rule 12b-1) Fees | 0.00 | % | 0.00 | % | ||||
Other Expenses2 | 0.25 | % | 0.25 | % | ||||
Total Annual Fund Operating Expenses3 | 1.00 | % | 1.00 | % | ||||
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This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be:
Columbia Energy and | 1 year | 3 years | 5 years | 10 years | ||||||||||||||
Class A | Current | $ | 695 | $ | 949 | $ | 1,222 | $ | 1,999 | |||||||||
Proposed | $ | 695 | $ | 949 | $ | 1,222 | $ | 1,999 | ||||||||||
Class B | Current | |||||||||||||||||
Did not sell your shares | $ | 203 | $ | 627 | $ | 1,078 | $ | 2,134 | ||||||||||
Sold your shares at end of period | $ | 703 | $ | 927 | $ | 1,278 | $ | 2,134 | ||||||||||
Proposed | ||||||||||||||||||
Did not sell your shares | $ | 203 | $ | 627 | $ | 1,078 | $ | 2,134 | ||||||||||
Sold your shares at end of period | $ | 703 | $ | 927 | $ | 1,278 | $ | 2,134 | ||||||||||
Class C | Current | |||||||||||||||||
Did not sell your shares | $ | 203 | $ | 627 | $ | 1,078 | $ | 2,327 | ||||||||||
Sold your shares at end of period | $ | 303 | $ | 627 | $ | 1,078 | $ | 2,327 | ||||||||||
Proposed | ||||||||||||||||||
Did not sell your shares | $ | 203 | $ | 627 | $ | 1,078 | $ | 2,327 | ||||||||||
Sold your shares at end of period | $ | 303 | $ | 627 | $ | 1,078 | $ | 2,327 | ||||||||||
Class I | Current | $ | 84 | $ | 262 | $ | 455 | $ | 1,014 | |||||||||
Proposed | $ | 84 | $ | 262 | $ | 455 | $ | 1,014 | ||||||||||
Class R | Current | $ | 153 | $ | 474 | $ | 818 | $ | 1,791 | |||||||||
Proposed | $ | 153 | $ | 474 | $ | 818 | $ | 1,791 | ||||||||||
Class W | Current | $ | 203 | $ | 627 | $ | 1,078 | $ | 2,327 | |||||||||
Proposed | $ | 203 | $ | 627 | $ | 1,078 | $ | 2,327 | ||||||||||
Class Z | Current | $ | 102 | $ | 318 | $ | 552 | $ | 1,225 | |||||||||
Proposed | $ | 102 | $ | 318 | $ | 552 | $ | 1,225 | ||||||||||
Columbia High Yield Municipal Fund
Columbia High Yield | Class A | Class B | Class C | Class Z | ||||||||||||||||||||||||||||
| Current | Proposed | Current | Proposed | Current | Proposed | Current | Proposed | |||||||||||||||||||||||||
Management Fees1 | 0.52 | % | 0.54 | % | 0.52 | % | 0.54 | % | 0.52 | % | 0.54 | % | 0.52 | % | 0.54 | % | ||||||||||||||||
Distribution and/or Service (Rule 12b-1) Fees2 | 0.20 | % | 0.20 | % | 0.95 | % | 0.95 | % | 0.95 | % | 0.95 | % | 0.00 | % | 0.00 | % | ||||||||||||||||
Other Expenses3 | 0.13 | % | 0.11 | % | 0.13 | % | 0.11 | % | 0.13 | % | 0.11 | % | 0.13 | % | 0.11 | % | ||||||||||||||||
Acquired Fund Fees and Expenses | 0.01 | % | 0.01 | % | 0.01 | % | 0.01 | % | 0.01 | % | 0.01 | % | 0.01 | % | 0.01 | % | ||||||||||||||||
Total Annual Fund Operating Expenses4 | 0.86 | % | 0.86 | % | 1.61 | % | 1.61 | % | 1.61 | % | 1.61 | % | 0.66 | % | 0.66 | % | ||||||||||||||||
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This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be:
Columbia High Yield | 1 year | 3 years | 5 years | 10 years | ||||||||||||||
Class A | Current | $ | 658 | $ | 834 | $ | 1,024 | $ | 1,575 | |||||||||
Proposed | $ | 658 | $ | 834 | $ | 1,024 | $ | 1,575 | ||||||||||
Class B | Current | |||||||||||||||||
Did not sell your shares | $ | 164 | $ | 508 | $ | 876 | $ | 1,710 | ||||||||||
Sold your shares at end of period | $ | 664 | $ | 808 | $ | 1,076 | $ | 1,710 | ||||||||||
Proposed | ||||||||||||||||||
Did not sell your shares | $ | 164 | $ | 508 | $ | 876 | $ | 1,710 | ||||||||||
Sold your shares at end of period | $ | 664 | $ | 808 | $ | 1,076 | $ | 1,710 | ||||||||||
Class C | Current | |||||||||||||||||
Did not sell your shares | $ | 164 | $ | 508 | $ | 876 | $ | 1,911 | ||||||||||
Sold your shares at end of period | $ | 264 | $ | 508 | $ | 876 | $ | 1,911 | ||||||||||
Proposed | ||||||||||||||||||
Did not sell your shares | $ | 164 | $ | 508 | $ | 876 | $ | 1,911 | ||||||||||
Sold your shares at end of period | $ | 264 | $ | 508 | $ | 876 | $ | 1,911 | ||||||||||
Class Z | Current | $ | 67 | $ | 211 | $ | 368 | $ | 822 | |||||||||
Proposed | $ | 67 | $ | 211 | $ | 368 | $ | 822 | ||||||||||
Columbia High Yield Opportunity Fund
Columbia High Yield | Class A | Class B | Class C | Class Z | ||||||||||||||||||||||||||||
| Current | Proposed | Current | Proposed | Current | Proposed | Current | Proposed | |||||||||||||||||||||||||
Management Fees1 | 0.60 | % | 0.66 | % | 0.60 | % | 0.66 | % | 0.60 | % | 0.66 | % | 0.60 | % | 0.66 | % | ||||||||||||||||
Distribution and/or Service (Rule 12b-1) Fees | 0.25 | % | 0.25 | % | 1.00 | % | 1.00 | % | 1.00 | % | 1.00 | % | 0.00 | % | 0.00 | % | ||||||||||||||||
Other Expenses2 | 0.26 | % | 0.21 | % | 0.26 | % | 0.21 | % | 0.26 | % | 0.21 | % | 0.26 | % | 0.21 | % | ||||||||||||||||
Total Annual Fund Operating Expenses3 | 1.11 | % | 1.12 | % | 1.86 | % | 1.87 | % | 1.86 | % | 1.87 | % | 0.86 | % | 0.87 | % | ||||||||||||||||
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This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be:
Columbia High Yield | 1 year | 3 years | 5 years | 10 years | ||||||||||||||
Class A | Current | $ | 583 | $ | 811 | $ | 1,058 | $ | 1,762 | |||||||||
Proposed | $ | 584 | $ | 814 | $ | 1,063 | $ | 1,773 | ||||||||||
Class B | Current | |||||||||||||||||
Did not sell your shares | $ | 189 | $ | 585 | $ | 1,006 | $ | 1,984 | ||||||||||
Sold your shares at end of period | $ | 689 | $ | 885 | $ | 1,206 | $ | 1,984 | ||||||||||
Proposed | ||||||||||||||||||
Did not sell your shares | $ | 190 | $ | 588 | $ | 1,011 | $ | 1,995 | ||||||||||
Sold your shares at end of period | $ | 690 | $ | 888 | $ | 1,211 | $ | 1,995 | ||||||||||
Class C | Current | |||||||||||||||||
Did not sell your shares | $ | 189 | $ | 585 | $ | 1,006 | $ | 2,180 | ||||||||||
Sold your shares at end of period | $ | 289 | $ | 585 | $ | 1,006 | $ | 2,180 | ||||||||||
Proposed | ||||||||||||||||||
Did not sell your shares | $ | 190 | $ | 588 | $ | 1,011 | $ | 2,190 | ||||||||||
Sold your shares at end of period | $ | 290 | $ | 588 | $ | 1,011 | $ | 2,190 | ||||||||||
Class Z | Current | $ | 88 | $ | 274 | $ | 477 | $ | 1,061 | |||||||||
Proposed | $ | 89 | $ | 278 | $ | 482 | $ | 1,073 | ||||||||||
Columbia Intermediate Bond Fund
Columbia Intermediate | Class A | Class B | Class C | Class I | Class R | |||||||||||||||||||||||||||||||||||
| Current | Proposed | Current | Proposed | Current | Proposed | Current | Proposed | Current | Proposed | |||||||||||||||||||||||||||||||
Management Fees1 | 0.47 | % | 0.49 | % | 0.47 | % | 0.49 | % | 0.47 | % | 0.49 | % | 0.47 | % | 0.49 | % | 0.47 | % | 0.49 | % | ||||||||||||||||||||
Distribution and/or Service (Rule 12b-1) Fees | 0.25 | % | 0.25 | % | 1.00 | % | 1.00 | % | 1.00 | % | 1.00 | % | 0.00 | % | 0.00 | % | 0.50 | % | 0.50 | % | ||||||||||||||||||||
Other Expenses2 | 0.12 | % | 0.12 | % | 0.12 | % | 0.12 | % | 0.12 | % | 0.12 | % | 0.03 | % | 0.03 | % | 0.12 | % | 0.12 | % | ||||||||||||||||||||
Total Annual Fund Operating Expenses | 0.84 | % | 0.86 | % | 1.59 | % | 1.61 | % | 1.59 | % | 1.61 | % | 0.50 | % | 0.52 | % | 1.09 | % | 1.11 | % | ||||||||||||||||||||
Fee Waivers and/or Reimbursements3 | 0.00 | % | (0.02 | )% | 0.00 | % | (0.02 | )% | 0.00 | % | (0.02 | )% | 0.00 | % | 0.00 | % | 0.00 | % | (0.02 | )% | ||||||||||||||||||||
Total Annual Fund Operating Expenses after Fee Waivers and/or Reimbursements | 0.84 | % | 0.84 | % | 1.59 | % | 1.59 | % | 1.59 | % | 1.59 | % | 0.50 | % | 0.52 | % | 1.09 | % | 1.09 | % | ||||||||||||||||||||
Columbia Intermediate | Class W | Class Z | ||||||||||||||
| Current | Proposed | Current | Proposed | |||||||||||||
Management Fees1 | 0.47 | % | 0.49 | % | 0.47 | % | 0.49 | % | ||||||||
Distribution and/or Service (Rule 12b-1) Fees | 0.25 | % | 0.25 | % | 0.00 | % | 0.00 | % | ||||||||
Other Expenses2 | 0.12 | % | 0.12 | % | 0.12 | % | 0.12 | % | ||||||||
Total Annual Fund Operating Expenses | 0.84 | % | 0.86 | % | 0.59 | % | 0.61 | % | ||||||||
Fee Waivers and/or Reimbursements3 | 0.00 | % | (0.02 | )% | 0.00 | % | (0.02 | )% | ||||||||
Total Annual Fund Operating Expenses after the Fee Waivers and/or Reimbursements | 0.84 | % | 0.84 | % | 0.59 | % | 0.59 | % | ||||||||
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This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same. Since the waivers and/or reimbursements shown in the table above expire on July 31, 2012, they are only reflected in the 1 year example and for a 1 year period in each of the 3, 5 and 10 year examples. Although your actual costs may be higher or lower, based on these assumptions your costs would be:
Columbia Intermediate | 1 year | 3 years | 5 years | 10 years | ||||||||||||||
Class A | Current | $ | 408 | $ | 584 | $ | 776 | $ | 1,328 | |||||||||
Proposed | $ | 408 | $ | 589 | $ | 784 | $ | 1,350 | ||||||||||
Class B | Current | |||||||||||||||||
Did not sell your shares | $ | 162 | $ | 502 | $ | 866 | $ | 1,688 | ||||||||||
Sold your shares at end of period | $ | 462 | $ | 702 | $ | 866 | $ | 1,688 | ||||||||||
Proposed | ||||||||||||||||||
Did not sell your shares | $ | 162 | $ | 506 | $ | 874 | $ | 1,708 | ||||||||||
Sold your shares at end of period | $ | 462 | $ | 706 | $ | 874 | $ | 1,708 | ||||||||||
Class C | Current | |||||||||||||||||
Did not sell your shares | $ | 162 | $ | 502 | $ | 866 | $ | 1,889 | ||||||||||
Sold your shares at end of period | $ | 262 | $ | 502 | $ | 866 | $ | 1,889 | ||||||||||
Proposed | ||||||||||||||||||
Did not sell your shares | $ | 162 | $ | 506 | $ | 874 | $ | 1,909 | ||||||||||
Sold your shares at end of period | $ | 262 | $ | 506 | $ | 874 | $ | 1,909 | ||||||||||
Class I | Current | $ | 51 | $ | 160 | $ | 280 | $ | 628 | |||||||||
Proposed | $ | 53 | $ | 167 | $ | 291 | $ | 653 | ||||||||||
Class R | Current | $ | 111 | $ | 347 | $ | 601 | $ | 1,329 | |||||||||
Proposed | $ | 111 | $ | 351 | $ | 610 | $ | 1,350 | ||||||||||
Class W | Current | $ | 86 | $ | 268 | $ | 466 | $ | 1,037 | |||||||||
Proposed | $ | 86 | $ | 272 | $ | 475 | $ | 1,059 | ||||||||||
Class Z | Current | $ | 60 | $ | 189 | $ | 329 | $ | 738 | |||||||||
Proposed | $ | 60 | $ | 193 | $ | 338 | $ | 760 | ||||||||||
Columbia Intermediate Municipal Bond Fund
Columbia Intermediate | Class A | Class B | Class C | Class T | Class Z | |||||||||||||||||||||||||||||||||||
| Current | Proposed | Current | Proposed | Current | Proposed | Current | Proposed | Current | Proposed | |||||||||||||||||||||||||||||||
Management Fees1 | 0.48 | % | 0.45 | % | 0.48 | % | 0.45 | % | 0.48 | % | 0.45 | % | 0.48 | % | 0.45 | % | 0.48 | % | 0.45 | % | ||||||||||||||||||||
Distribution and/or Service (Rule 12b-1) Fees | 0.20 | % | 0.20 | % | 0.85 | % | 0.85 | % | 0.85 | %2 | 0.85 | %2 | 0.00 | % | 0.00 | % | 0.00 | % | 0.00 | % | ||||||||||||||||||||
Other Expenses3 | 0.06 | % | 0.09 | % | 0.06 | % | 0.09 | % | 0.06 | % | 0.09 | % | 0.21 | %4 | 0.24 | %4 | 0.06 | % | 0.09 | % | ||||||||||||||||||||
Total Annual Fund Operating Expenses5 | 0.74 | % | 0.74 | % | 1.39 | % | 1.39 | % | 1.39 | % | 1.39 | % | 0.69 | % | 0.69 | % | 0.54 | % | 0.54 | % | ||||||||||||||||||||
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This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same. Since the waivers and/or reimbursements shown in the table above expire on February 28, 2012, they are only reflected in the 1 year example and for a 1 year period in each of the 3, 5 and 10 year examples. Although your actual costs may be higher or lower, based on these assumptions your costs would be:
Columbia Intermediate | 1 year | 3 years | 5 years | 10 years | ||||||||||||||
Class A | Current | $ | 398 | $ | 554 | $ | 723 | $ | 1,214 | |||||||||
Proposed | $ | 398 | $ | 554 | $ | 723 | $ | 1,214 | ||||||||||
Class B | Current | |||||||||||||||||
Did not sell your shares | $ | 142 | $ | 440 | $ | 761 | $ | 1,491 | ||||||||||
Sold your shares at end of period | $ | 442 | $ | 640 | $ | 761 | $ | 1,491 | ||||||||||
Proposed | ||||||||||||||||||
Did not sell your shares | $ | 142 | $ | 440 | $ | 761 | $ | 1,491 | ||||||||||
Sold your shares at end of period | $ | 442 | $ | 640 | $ | 761 | $ | 1,491 | ||||||||||
Class C | Current | |||||||||||||||||
Did not sell your shares | $ | 142 | $ | 440 | $ | 761 | $ | 1,669 | ||||||||||
Sold your shares at end of period | $ | 242 | $ | 440 | $ | 761 | $ | 1,669 | ||||||||||
Proposed | ||||||||||||||||||
Did not sell your shares | $ | 142 | $ | 440 | $ | 761 | $ | 1,669 | ||||||||||
Sold your shares at end of period | $ | 242 | $ | 440 | $ | 761 | $ | 1,669 | ||||||||||
Class T | Current | $ | 542 | $ | 685 | $ | 841 | $ | 1,293 | |||||||||
Proposed | $ | 542 | $ | 685 | $ | 841 | $ | 1,293 | ||||||||||
Class Z | Current | $ | 55 | $ | 173 | $ | 302 | $ | 677 | |||||||||
Proposed | $ | 55 | $ | 173 | $ | 302 | $ | 677 | ||||||||||
Columbia International Bond Fund
Columbia International | Class A | Class C | Class I | Class Z | ||||||||||||||||||||||||||||
| Current | Proposed | Current | Proposed | Current | Proposed | Current | Proposed | |||||||||||||||||||||||||
Management Fees1 | 0.60 | % | 0.65 | % | 0.60 | % | 0.65 | % | 0.60 | % | 0.65 | % | 0.60 | % | 0.65 | % | ||||||||||||||||
Distribution and/or Service (Rule 12b-1) Fees | 0.25 | % | 0.25 | % | 1.00 | % | 1.00 | % | 0.00 | % | 0.00 | % | 0.00 | % | 0.00 | % | ||||||||||||||||
Other Expenses2 | 0.91 | % | 0.91 | % | 0.91 | % | 0.91 | % | 0.89 | % | 0.89 | % | 0.91 | % | 0.91 | % | ||||||||||||||||
Total Annual Fund Operating Expenses | 1.76 | % | 1.81 | % | 2.51 | % | 2.56 | % | 1.49 | % | 1.54 | % | 1.51 | % | 1.56 | % | ||||||||||||||||
Fee Waivers and/or Reimbursements | (0.66 | )% | (0.71 | )% | (0.66 | )% | (0.71 | )% | (0.65 | )% | (0.70 | )% | (0.66 | )% | (0.71 | )% | ||||||||||||||||
Total Annual Fund Operating Expenses after the Fee Waivers and/or Reimbursements3 | 1.10 | % | 1.10 | % | 1.85 | % | 1.85 | % | 0.84 | % | 0.84 | % | 0.85 | % | 0.85 | % | ||||||||||||||||
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This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same. Since the waivers and/or reimbursements shown in the table above expire on September 30, 2012, they are only reflected in the 1 year example and for a 1 year period in each of the 3, 5 and 10 year examples. Although your actual costs may be higher or lower, based on these assumptions your costs would be:
Columbia International | 1 year | 3 years | 5 years | 10 years | ||||||||||||||
Class A | Current | $ | 582 | $ | 942 | $ | 1,325 | $ | 2,398 | |||||||||
Proposed | $ | 582 | $ | 952 | $ | 1,345 | $ | 2,445 | ||||||||||
Class C | Current | |||||||||||||||||
Did not sell your shares | $ | 188 | $ | 719 | $ | 1,276 | $ | 2,796 | ||||||||||
Sold your shares at end of period | $ | 288 | $ | 719 | $ | 1,276 | $ | 2,796 | ||||||||||
Proposed | ||||||||||||||||||
Did not sell your shares | $ | 188 | $ | 729 | $ | 1,297 | $ | 2,842 | ||||||||||
Sold your shares at end of period | $ | 288 | $ | 729 | $ | 1,297 | $ | 2,842 | ||||||||||
Class I | Current | $ | 86 | $ | 407 | $ | 751 | $ | 1,724 | |||||||||
Proposed | $ | 86 | $ | 418 | $ | 773 | $ | 1,775 | ||||||||||
Class Z | Current | $ | 87 | $ | 412 | $ | 761 | $ | 1,745 | |||||||||
Proposed | $ | 87 | $ | 423 | $ | 783 | $ | 1,796 | ||||||||||
Columbia Large Cap Growth Fund
Columbia Large Cap | Class A | Class B | Class C | Class E | Class F | |||||||||||||||||||||||||||||||||||
| Current | Proposed | Current | Proposed | Current | Proposed | Current | Proposed | Current | Proposed | |||||||||||||||||||||||||||||||
Management Fees1 | 0.57 | % | 0.73 | % | 0.57 | % | 0.73 | % | 0.57 | % | 0.73 | % | 0.57 | % | 0.73 | % | 0.57 | % | 0.73 | % | ||||||||||||||||||||
Distribution and/or Service (Rule 12b-1) Fees | 0.25 | % | 0.25 | % | 1.00 | % | 1.00 | % | 1.00 | % | 1.00 | % | 0.35 | % | 0.35 | % | 1.00 | % | 1.00 | % | ||||||||||||||||||||
Other Expenses2 | 0.23 | % | 0.23 | % | 0.23 | % | 0.23 | % | 0.23 | % | 0.23 | % | 0.23 | % | 0.23 | % | 0.23 | % | 0.23 | % | ||||||||||||||||||||
Total Annual Fund Operating Expenses4 | 1.05 | % | 1.21 | % | 1.80 | % | 1.96 | % | 1.80 | % | 1.96 | % | 1.15 | % | 1.31 | % | 1.80 | % | 1.96 | % | ||||||||||||||||||||
Columbia Large Cap | Class I | Class R | Class T | Class W | Class Y | |||||||||||||||||||||||||||||||||||
| Current | Current | Current | Proposed | Current | Proposed | Current | Proposed | Current | Proposed | |||||||||||||||||||||||||||||||
Management Fees1 | 0.57 | % | 0.73 | % | 0.57 | % | 0.73 | % | 0.57 | % | 0.73 | % | 0.57 | % | 0.73 | % | 0.57 | % | 0.73 | % | ||||||||||||||||||||
Distribution and/or Service (Rule 12b-1) Fees | 0.00 | % | 0.00 | % | 0.50 | % | 0.50 | % | 0.00 | % | 0.00 | % | 0.25 | % | 0.25 | % | 0.00 | % | 0.00 | % | ||||||||||||||||||||
Other Expenses2 | 0.06 | % | 0.06 | % | 0.23 | % | 0.23 | % | 0.53 | %3 | 0.53 | %3 | 0.23 | % | 0.23 | % | 0.06 | % | 0.04 | % | ||||||||||||||||||||
Total Annual Fund Operating Expenses4 | 0.63 | % | 0.79 | % | 1.30 | % | 1.46 | % | 1.10 | % | 1.26 | % | 1.05 | % | 1.21 | % | 0.63 | % | 0.77 | % | ||||||||||||||||||||
Columbia Large Cap | Class Z | |||||||
| Current | Proposed | |||||||
Management Fees1 | 0.57 | % | 0.73 | % | ||||
Distribution and/or Service (Rule 12b-1) Fees | 0.00 | % | 0.00 | % | ||||
Other Expenses2 | 0.23 | % | 0.23 | % | ||||
Total Annual Fund Operating Expenses4 | 0.80 | % | 0.96 | % | ||||
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This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be:
Columbia Large | 1 year | 3 years | 5 years | 10 years | ||||||||||||||
Class A | Current | $ | 676 | $ | 890 | $ | 1,121 | $ | 1,784 | |||||||||
| Proposed | $ | 691 | $ | 937 | $ | 1,202 | $ | 1,957 | ||||||||||
Class B | Current | |||||||||||||||||
Did not sell your shares | $ | 183 | $ | 566 | $ | 975 | $ | 1,919 | ||||||||||
Sold your shares at end of period | $ | 683 | $ | 866 | $ | 1,175 | $ | 1,919 | ||||||||||
| Proposed | ||||||||||||||||||
Did not sell your shares | $ | 199 | $ | 615 | $ | 1,057 | $ | 2,091 | ||||||||||
Sold your shares at end of period | $ | 699 | $ | 915 | $ | 1,257 | $ | 2,091 | ||||||||||
Class C | Current | |||||||||||||||||
Did not sell your shares | $ | 183 | $ | 566 | $ | 975 | $ | 2,116 | ||||||||||
Sold your shares at end of period | $ | 283 | $ | 566 | $ | 975 | $ | 2,116 | ||||||||||
| Proposed | ||||||||||||||||||
Did not sell your shares | $ | 199 | $ | 615 | $ | 1,057 | $ | 2,285 | ||||||||||
Sold your shares at end of period | $ | 299 | $ | 615 | $ | 1,057 | $ | 2,285 | ||||||||||
Class E | Current | $ | 562 | $ | 799 | $ | 1,054 | $ | 1,785 | |||||||||
| Proposed | $ | 577 | $ | 847 | $ | 1,136 | $ | 1,958 | ||||||||||
Class F | Current | |||||||||||||||||
Did not sell your shares | $ | 183 | $ | 666 | $ | 975 | $ | 1,945 | ||||||||||
Sold your shares at end of period | $ | 683 | $ | 866 | $ | 1,175 | $ | 1,945 | ||||||||||
| Proposed | ||||||||||||||||||
Did not sell your shares | $ | 199 | $ | 615 | $ | 1,057 | $ | 2,117 | ||||||||||
Sold your shares at end of period | $ | 699 | $ | 915 | $ | 1,257 | $ | 2,117 | ||||||||||
Class I | Current | $ | 64 | $ | 202 | $ | 351 | $ | 786 | |||||||||
| Proposed | $ | 81 | $ | 252 | $ | 439 | $ | 978 | ||||||||||
Class R | Current | $ | 132 | $ | 412 | $ | 713 | $ | 1,568 | |||||||||
| Proposed | $ | 149 | $ | 462 | $ | 797 | $ | 1,746 | ||||||||||
Class T | Current | $ | 681 | $ | 905 | $ | 1,146 | $ | 1,838 | |||||||||
| Proposed | $ | 696 | $ | 952 | $ | 1,227 | $ | 2,010 | ||||||||||
Class W | Current | $ | 107 | $ | 334 | $ | 579 | $ | 1,283 | |||||||||
| Proposed | $ | 123 | $ | 384 | $ | 665 | $ | 1,466 | ||||||||||
Class Y | Current | $ | 64 | $ | 202 | $ | 351 | $ | 786 | |||||||||
| Proposed | $ | 79 | $ | 246 | $ | 428 | $ | 954 | ||||||||||
Class Z | Current | $ | 82 | $ | 255 | $ | 444 | $ | 990 | |||||||||
| Proposed | $ | 98 | $ | 306 | $ | 531 | $ | 1,178 | ||||||||||
Columbia Pacific/Asia Fund
Columbia Pacific/Asia Fund | Class A | Class C | Class I | Class Z | ||||||||||||||||||||||||||||
| Current | Proposed | Current | Proposed | Current | Proposed | Current | Proposed | |||||||||||||||||||||||||
Management Fees1 | 0.95 | % | 0.95 | % | 0.95 | % | 0.95 | % | 0.95 | % | 0.95 | % | 0.95 | % | 0.95 | % | ||||||||||||||||
Distribution and/or Service (Rule 12b-1) Fees | 0.25 | % | 0.25 | % | 1.00 | % | 1.00 | % | 0.00 | % | 0.00 | % | 0.00 | % | 0.00 | % | ||||||||||||||||
Other Expenses2 | 0.78 | % | 0.78 | % | 0.78 | % | 0.78 | % | 0.70 | % | 0.70 | % | 0.78 | % | 0.78 | % | ||||||||||||||||
Acquired Fund Fees and Expenses | 0.01 | % | 0.01 | % | 0.01 | % | 0.01 | % | 0.01 | % | 0.01 | % | 0.01 | % | 0.01 | % | ||||||||||||||||
Total Annual Fund Operating Expenses | 1.99 | % | 1.99 | % | 2.74 | % | 2.74 | % | 1.66 | % | 1.66 | % | 1.74 | % | 1.74 | % | ||||||||||||||||
Fee Waivers and/or Reimbursements3 | (0.20 | )% | (0.20 | )% | (0.20 | )% | (0.20 | )% | (0.18 | )% | (0.18 | )% | (0.20 | )% | (0.20 | )% | ||||||||||||||||
Total Annual Fund Operating Expenses after the Fee Waivers and/or Reimbursements | 1.79 | % | 1.79 | % | 2.54 | % | 2.54 | % | 1.48 | % | 1.48 | % | 1.54 | % | 1.54 | % | ||||||||||||||||
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This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same. Since the waivers and/or reimbursements shown in the table above expire on July 31, 2012, they are only reflected in the 1 year example and for a 1 year period in each of the 3, 5 and 10 year examples. Although your actual costs may be higher or lower, based on these assumptions your costs would be:
Columbia Pacific/Asia Fund | 1 year | 3 years | 5 years | 10 years | ||||||||||||||
Class A | Current | $ | 746 | $ | 1,145 | $ | 1,569 | $ | 2,743 | |||||||||
Proposed | $ | 746 | $ | 1,145 | $ | 1,569 | $ | 2,743 | ||||||||||
Class C | Current | |||||||||||||||||
Did not sell your shares | $ | 257 | $ | 831 | $ | 1,432 | $ | 3,056 | ||||||||||
Sold your shares at end of period | $ | 357 | $ | 831 | $ | 1,432 | $ | 3,056 | ||||||||||
Proposed | ||||||||||||||||||
Did not sell your shares | $ | 257 | $ | 831 | $ | 1,432 | $ | 3,056 | ||||||||||
Sold your shares at end of period | $ | 357 | $ | 831 | $ | 1,432 | $ | 3,056 | ||||||||||
Class I | Current | $ | 151 | $ | 506 | $ | 885 | $ | 1,950 | |||||||||
Proposed | $ | 151 | $ | 506 | $ | 885 | $ | 1,950 | ||||||||||
Class Z | Current | $ | 157 | $ | 529 | $ | 925 | $ | 2,035 | |||||||||
Proposed | $ | 157 | $ | 529 | $ | 925 | $ | 2,035 | ||||||||||
Columbia Select Large Cap Growth Fund
Columbia Select Large Cap | Class A | Class C | Class I | Class R | Class W | |||||||||||||||||||||||||||||||||||
| Current | Proposed | Current | Proposed | Current | Proposed | Current | Proposed | Current | Proposed | |||||||||||||||||||||||||||||||
Management Fees1 | 0.82 | % | 0.72 | % | 0.82 | % | 0.72 | % | 0.82 | % | 0.72 | % | 0.82 | % | 0.72 | % | 0.82 | % | 0.72 | % | ||||||||||||||||||||
Distribution and/or Service (Rule 12b-1) Fees | 0.25 | % | 0.25 | % | 1.00 | % | 1.00 | % | 0.00 | % | 0.00 | % | 0.50 | % | 0.50 | % | 0.25 | % | 0.25 | % | ||||||||||||||||||||
Other Expenses2 | 0.18 | % | 0.25 | % | 0.18 | % | 0.25 | % | 0.04 | % | 0.04 | % | 0.18 | % | 0.25 | % | 0.18 | % | 0.25 | % | ||||||||||||||||||||
Total Annual Fund Operating Expenses3 | 1.25 | % | 1.22 | % | 2.00 | % | 1.97 | % | 0.86 | % | 0.76 | % | 1.50 | % | 1.47 | % | 1.25 | % | 1.22 | % | ||||||||||||||||||||
Columbia Select Large Cap | Class Z | |||||||
| Current | Proposed | |||||||
Management Fees1 | 0.82 | % | 0.72 | % | ||||
Distribution and/or Service (Rule 12b-1) Fees | 0.00 | % | 0.00 | % | ||||
Other Expenses2 | 0.18 | % | 0.25 | % | ||||
Total Annual Fund Operating Expenses3 | 1.00 | % | 0.97 | % | ||||
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This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be:
Columbia Select Large Cap | 1 year | 3 years | 5 years | 10 years | ||||||||||||||
Class A | Current | $ | 695 | $ | 949 | $ | 1,222 | $ | 1,999 | |||||||||
Proposed | $ | 692 | $ | 940 | $ | 1,207 | $ | 1,967 | ||||||||||
Class C | Current | |||||||||||||||||
Did not sell your shares | $ | 203 | $ | 627 | $ | 1,078 | $ | 2,327 | ||||||||||
Sold your shares at end of period | $ | 303 | $ | 627 | $ | 1,078 | $ | 2,327 | ||||||||||
Proposed | ||||||||||||||||||
Did not sell your shares | $ | 200 | $ | 618 | $ | 1,062 | $ | 2,296 | ||||||||||
Sold your shares at end of period | $ | 300 | $ | 618 | $ | 1,062 | $ | 2,296 | ||||||||||
Class I | Current | $ | 88 | $ | 274 | $ | 477 | $ | 1,061 | |||||||||
Proposed | $ | 78 | $ | 243 | $ | 422 | $ | 942 | ||||||||||
Class R | Current | $ | 153 | $ | 474 | $ | 818 | $ | 1,791 | |||||||||
Proposed | $ | 150 | $ | 465 | $ | 803 | $ | 1,757 | ||||||||||
Class W | Current | $ | 127 | $ | 397 | $ | 686 | $ | 1,511 | |||||||||
Proposed | $ | 124 | $ | 387 | $ | 670 | $ | 1,477 | ||||||||||
Class Z | Current | $ | 102 | $ | 318 | $ | 552 | $ | 1,225 | |||||||||
Proposed | $ | 99 | $ | 309 | $ | 536 | $ | 1,190 | ||||||||||
Columbia Select Small Cap Fund
Columbia Select Small Cap Fund | Class A | Class C | Class R | Class Z | ||||||||||||||||||||||||||||
| Current | Proposed | Current | Proposed | Current | Proposed | Current | Proposed | |||||||||||||||||||||||||
Management Fees1 | 0.90 | % | 0.87 | % | 0.90 | % | 0.87 | % | 0.90 | % | 0.87 | % | 0.90 | % | 0.87 | % | ||||||||||||||||
Distribution and/or Service (Rule 12b-1) Fees | 0.25 | % | 0.25 | % | 1.00 | % | 1.00 | % | 0.50 | % | 0.50 | % | 0.00 | % | 0.00 | % | ||||||||||||||||
Other Expenses2 | 0.20 | % | 0.23 | % | 0.20 | % | 0.23 | % | 0.20 | % | 0.23 | % | 0.20 | % | 0.23 | % | ||||||||||||||||
Total Annual Fund Operating Expenses | 1.35 | % | 1.35 | % | 2.10 | % | 2.10 | % | 1.60 | % | 1.60 | % | 1.10 | % | 1.10 | % | ||||||||||||||||
Fee Waivers and/or Reimbursements | (0.01 | )% | (0.01 | )% | (0.01 | )% | (0.01 | )% | (0.01 | )% | (0.01 | )% | (0.01 | )% | (0.01 | )% | ||||||||||||||||
Total Annual Fund Operating Expenses after the Fee Waivers and/or Reimbursements3 | 1.34 | % | 1.34 | % | 2.09 | % | 2.09 | % | 1.59 | % | 1.59 | % | 1.09 | % | 1.09 | % | ||||||||||||||||
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This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same. Since the waivers and/or reimbursements shown in the table above expire on July 31, 2012, they are only reflected in the 1 year example and for a 1 year period in each of the 3, 5 and 10 year examples. Although your actual costs may be higher or lower, based on these assumptions your costs would be:
Columbia Select Small Cap Fund | 1 year | 3 years | 5 years | 10 years | ||||||||||||||
Class A | Current | $ | 704 | $ | 977 | $ | 1,271 | $ | 2,105 | |||||||||
Proposed | $ | 704 | $ | 977 | $ | 1,271 | $ | 2,105 | ||||||||||
Class C | Current | |||||||||||||||||
Did not sell your shares | $ | 212 | $ | 657 | $ | 1,128 | $ | 2,430 | ||||||||||
Sold your shares at end of period | $ | 312 | $ | 657 | $ | 1,128 | $ | 2,430 | ||||||||||
Proposed | ||||||||||||||||||
Did not sell your shares | $ | 212 | $ | 657 | $ | 1,128 | $ | 2,430 | ||||||||||
Sold your shares at end of period | $ | 312 | $ | 657 | $ | 1,128 | $ | 2,430 | ||||||||||
Class R | Current | $ | 162 | $ | 504 | $ | 870 | $ | 1,899 | |||||||||
Proposed | $ | 162 | $ | 504 | $ | 870 | $ | 1,899 | ||||||||||
Class Z | Current | $ | 111 | $ | 349 | $ | 605 | $ | 1,339 | |||||||||
Proposed | $ | 111 | $ | 349 | $ | 605 | $ | 1,339 | ||||||||||
Columbia Small Cap Core Fund
Columbia Small | Class A | Class B | Class C | Class I | Class T | |||||||||||||||||||||||||||||||||||
| Current | Proposed | Current | Proposed | Current | Proposed | Current | Proposed | Current | Proposed | |||||||||||||||||||||||||||||||
Management Fees1 | 0.86 | % | 0.86 | % | 0.86 | % | 0.86 | % | 0.86 | % | 0.86 | % | 0.86 | % | 0.86 | % | 0.86 | % | 0.86 | % | ||||||||||||||||||||
Distribution and/or Service (Rule 12b-1) Fees | 0.25 | %2 | 0.25 | %2 | 1.00 | % | 1.00 | % | 1.00 | % | 1.00 | % | 0.00 | % | 0.00 | % | 0.00 | % | 0.00 | % | ||||||||||||||||||||
Other Expenses3 | 0.23 | % | 0.23 | % | 0.23 | % | 0.23 | % | 0.23 | % | 0.23 | % | 0.05 | % | 0.05 | % | 0.53 | %4 | 0.53 | %4 | ||||||||||||||||||||
Total Annual Fund Operating Expenses5 | 1.34 | % | 1.34 | % | 2.09 | % | 2.09 | % | 2.09 | % | 2.09 | % | 0.91 | % | 0.91 | % | 1.39 | % | 1.39 | % | ||||||||||||||||||||
Columbia Small | Class W | Class Z | ||||||||||||||
| Current | Proposed | Current | Proposed | |||||||||||||
Management Fees1 | 0.86 | % | 0.86 | % | 0.86 | % | 0.86 | % | ||||||||
Distribution and/or Service (Rule 12b-1) Fees | 0.25 | % | 0.25 | % | 0.00 | % | 0.00 | % | ||||||||
Other Expenses2 | 0.23 | % | 0.23 | % | 0.23 | % | 0.23 | % | ||||||||
Total Annual Fund Operating Expenses5 | 1.34 | % | 1.34 | % | 1.09 | % | 1.09 | % | ||||||||
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This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be:
Columbia Small | 1 year | 3 years | 5 years | 10 years | ||||||||||||||
Class A | Current | $ | 704 | $ | 975 | $ | 1,267 | $ | 2,095 | |||||||||
Proposed | $ | 704 | $ | 975 | $ | 1,267 | $ | 2,095 | ||||||||||
Class B | Current | |||||||||||||||||
Did not sell your shares | $ | 212 | $ | 655 | $ | 1,124 | $ | 2,229 | ||||||||||
Sold your shares at end of period | $ | 712 | $ | 955 | $ | 1,324 | $ | 2,229 | ||||||||||
Proposed | ||||||||||||||||||
Did not sell your shares | $ | 212 | $ | 655 | $ | 1,124 | $ | 2,229 | ||||||||||
Sold your shares at end of period | $ | 712 | $ | 955 | $ | 1,324 | $ | 2,229 | ||||||||||
Class C | Current | |||||||||||||||||
Did not sell your shares | $ | 212 | $ | 655 | $ | 1,124 | $ | 2,421 | ||||||||||
Sold your shares at end of period | $ | 312 | $ | 655 | $ | 1,124 | $ | 2,421 | ||||||||||
Proposed | ||||||||||||||||||
Did not sell your shares | $ | 212 | $ | 655 | $ | 1,124 | $ | 2,421 | ||||||||||
Sold your shares at end of period | $ | 312 | $ | 655 | $ | 1,124 | $ | 2,421 | ||||||||||
Class I | Current | $ | 93 | $ | 290 | $ | 504 | $ | 1,120 | |||||||||
Proposed | $ | 93 | $ | 290 | $ | 504 | $ | 1,120 | ||||||||||
Class T | Current | $ | 708 | $ | 990 | $ | 1,292 | $ | 2,148 | |||||||||
Proposed | $ | 708 | $ | 990 | $ | 1,292 | $ | 2,148 | ||||||||||
Class W | Current | $ | 136 | $ | 425 | $ | 734 | $ | 1,613 | |||||||||
Proposed | $ | 136 | $ | 425 | $ | 734 | $ | 1,613 | ||||||||||
Class Z | Current | $ | 111 | $ | 347 | $ | 601 | $ | 1,329 | |||||||||
Proposed | $ | 111 | $ | 347 | $ | 601 | $ | 1,329 | ||||||||||
Columbia Strategic Income Fund
Columbia Strategic | Class A | Class B | Class C | Class R | Class W | |||||||||||||||||||||||||||||||||||
| Current | Proposed | Current | Proposed | Current | Proposed | Current | Proposed | Current | Proposed | |||||||||||||||||||||||||||||||
Management Fees1 | 0.54 | % | 0.58 | % | 0.54 | % | 0.58 | % | 0.54 | % | 0.58 | % | 0.54 | % | 0.58 | % | 0.54 | % | 0.58 | % | ||||||||||||||||||||
Distribution and/or Service (Rule 12b-1) Fees | 0.25 | % | 0.25 | % | 1.00 | % | 1.00 | % | 1.00 | % | 1.00 | % | 0.50 | % | 0.50 | % | 0.25 | % | 0.25 | % | ||||||||||||||||||||
Other Expenses2 | 0.20 | % | 0.19 | % | 0.20 | % | 0.19 | % | 0.20 | % | 0.19 | % | 0.20 | % | 0.19 | % | 0.20 | % | 0.19 | % | ||||||||||||||||||||
Total Annual Fund Operating Expenses3 | 0.99 | % | 1.02 | % | 1.74 | % | 1.77 | % | 1.74 | % | 1.77 | % | 1.24 | % | 1.27 | % | 0.99 | % | 1.02 | % | ||||||||||||||||||||
Columbia Strategic | Class Z | |||||||
| Current | Current | |||||||
Management Fees1 | 0.54 | % | 0.58 | % | ||||
Distribution and/or Service (Rule 12b-1) Fees | 0.00 | % | 0.00 | % | ||||
Other Expenses2 | 0.20 | % | 0.19 | % | ||||
Total Annual Fund Operating Expenses3 | 0.74 | % | 0.77 | % | ||||
|
|
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This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be:
Columbia Strategic | 1 year | 3 years | 5 years | 10 years | ||||||||||||||
Class A | Current | $ | 571 | $ | 775 | $ | 996 | $ | 1,630 | |||||||||
Proposed | $ | 574 | $ | 784 | $ | 1,011 | $ | 1,664 | ||||||||||
Class B | Current | |||||||||||||||||
Did not sell your shares | $ | 177 | $ | 548 | $ | 944 | $ | 1,853 | ||||||||||
Sold your shares at end of period | $ | 677 | $ | 848 | $ | 1,144 | $ | 1,853 | ||||||||||
Proposed | ||||||||||||||||||
Did not sell your shares | $ | 180 | $ | 557 | $ | 959 | $ | 1,886 | ||||||||||
Sold your shares at end of period | $ | 680 | $ | 857 | $ | 1,159 | $ | 1,886 | ||||||||||
Class C | Current | |||||||||||||||||
Did not sell your shares | $ | 177 | $ | 548 | $ | 944 | $ | 2,052 | ||||||||||
Sold your shares at end of period | $ | 277 | $ | 548 | $ | 944 | $ | 2,052 | ||||||||||
Proposed | ||||||||||||||||||
Did not sell your shares | $ | 180 | $ | 557 | $ | 959 | $ | 2,084 | ||||||||||
Sold your shares at end of period | $ | 280 | $ | 557 | $ | 959 | $ | 2,084 | ||||||||||
Class R | Current | $ | 126 | $ | 393 | $ | 681 | $ | 1,500 | |||||||||
Proposed | $ | 129 | $ | 403 | $ | 697 | $ | 1,534 | ||||||||||
Class W | Current | $ | 101 | $ | 315 | $ | 547 | $ | 1,213 | |||||||||
Proposed | $ | 104 | $ | 325 | $ | 563 | $ | 1,248 | ||||||||||
Class Z | Current | $ | 76 | $ | 237 | $ | 411 | $ | 918 | |||||||||
Proposed | $ | 79 | $ | 246 | $ | 428 | $ | 954 | ||||||||||
Columbia Strategic Investor Fund
Columbia Strategic | Class A | Class B | Class C | Class I | Class R | |||||||||||||||||||||||||||||||||||
| Current | Proposed | Current | Proposed | Current | Proposed | Current | Proposed | Current | Proposed | |||||||||||||||||||||||||||||||
Management Fees1 | 0.73 | % | 0.75 | % | 0.73 | % | 0.75 | % | 0.73 | % | 0.75 | % | 0.73 | % | 0.75 | % | 0.73 | % | 0.75 | % | ||||||||||||||||||||
Distribution and/or Service (Rule 12b-1) Fees | 0.25 | % | 0.25 | % | 1.00 | % | 1.00 | % | 1.00 | % | 1.00 | % | 0.00 | % | 0.00 | % | 0.50 | % | 0.50 | % | ||||||||||||||||||||
Other Expenses2 | 0.30 | % | 0.30 | % | 0.30 | % | 0.30 | % | 0.30 | % | 0.30 | % | 0.07 | % | 0.07 | % | 0.30 | % | 0.30 | % | ||||||||||||||||||||
Total Annual Fund Operating Expenses | 1.28 | % | 1.30 | % | 2.03 | % | 2.05 | % | 2.03 | % | 2.05 | % | 0.80 | % | 0.82 | % | 1.53 | % | 1.55 | % | ||||||||||||||||||||
Fee Waivers and/or Reimbursements3 | (0.02 | )% | (0.04 | )% | (0.02 | )% | (0.04 | )% | (0.02 | )% | (0.04 | )% | 0.00 | % | 0.00 | % | (0.02 | )% | (0.04 | )% | ||||||||||||||||||||
Total Annual Fund Operating Expenses after Fee Waivers and/or Reimbursements | 1.26 | % | 1.26 | % | 2.01 | % | 2.01 | % | 2.01 | % | 2.01 | % | 0.80 | % | 0.82 | % | 1.51 | % | 1.51 | % | ||||||||||||||||||||
Columbia Strategic | Class W | Class Y | Class Z | |||||||||||||||||||||
| Current | Proposed | Current | Proposed | Current | Proposed | |||||||||||||||||||
Management Fees1 | 0.73 | % | 0.75 | % | 0.73 | % | 0.75 | % | 0.73 | % | 0.75 | % | ||||||||||||
Distribution and/or Service (Rule 12b-1) Fees | 0.25 | % | 0.25 | % | 0.00 | % | 0.00 | % | 0.00 | % | 0.00 | % | ||||||||||||
Other Expenses2 | 0.30 | % | 0.30 | % | 0.07 | % | 0.07 | % | 0.30 | % | 0.30 | % | ||||||||||||
Total Annual Fund Operating Expenses | 1.28 | % | 1.30 | % | 0.80 | % | 0.82 | % | 1.03 | % | 1.05 | % | ||||||||||||
Fee Waivers and/or Reimbursements3 | (0.02 | )% | (0.04 | )% | 0.00 | % | 0.00 | % | (0.02 | )% | (0.04 | )% | ||||||||||||
Total Annual Fund Operating Expenses after Fee Waivers and/or Reimbursements | 1.26 | % | 1.26 | % | 0.80 | % | 0.82 | % | 1.01 | % | 1.01 | % | ||||||||||||
|
|
|
This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same. Since the waivers and/or reimbursements shown in the table above expire on December 31, 2012, they are only reflected in the 1 year example and for a 1 year period in each of the 3, 5 and 10 year examples. Although your actual costs may be higher or lower, based on these assumptions your costs would be:
Columbia Strategic | 1 year | 3 years | 5 years | 10 years | ||||||||||||||
Class A | Current | $ | 696 | $ | 956 | $ | 1,235 | $ | 2,030 | |||||||||
Proposed | $ | 696 | $ | 960 | $ | 1,243 | $ | 2,049 | ||||||||||
Class B | Current | |||||||||||||||||
Did not sell your shares | $ | 204 | $ | 635 | $ | 1,091 | $ | 2,164 | ||||||||||
Sold your shares at end of period | $ | 704 | $ | 935 | $ | 1,291 | $ | 2,164 | ||||||||||
Proposed | ||||||||||||||||||
Did not sell your shares | $ | 204 | $ | 639 | $ | 1,100 | $ | 2,184 | ||||||||||
Sold your shares at end of period | $ | 704 | $ | 939 | $ | 1,300 | $ | 2,184 | ||||||||||
Class C | Current | |||||||||||||||||
Did not sell your shares | $ | 204 | $ | 635 | $ | 1,091 | $ | 2,357 | ||||||||||
Sold your shares at end of period | $ | 304 | $ | 635 | $ | 1,091 | $ | 2,357 | ||||||||||
Proposed | ||||||||||||||||||
Did not sell your shares | $ | 204 | $ | 639 | $ | 1,100 | $ | 2,376 | ||||||||||
Sold your shares at end of period | $ | 304 | $ | 639 | $ | 1,100 | $ | 2,376 | ||||||||||
Class I | Current | $ | 82 | $ | 255 | $ | 444 | $ | 990 | |||||||||
Proposed | $ | 84 | $ | 262 | $ | 455 | $ | 1,014 | ||||||||||
Class R | Current | $ | 154 | $ | 481 | $ | 832 | $ | 1,822 | |||||||||
Proposed | $ | 154 | $ | 486 | $ | 841 | $ | 1,842 | ||||||||||
Class W | Current | $ | 128 | $ | 404 | $ | 700 | $ | 1,543 | |||||||||
Proposed | $ | 128 | $ | 408 | $ | 709 | $ | 1,564 | ||||||||||
Class Y | Current | $ | 82 | $ | 255 | $ | 444 | $ | 990 | |||||||||
Proposed | $ | 84 | $ | 262 | $ | 455 | $ | 1,014 | ||||||||||
Class Z | Current | $ | 103 | $ | 326 | $ | 567 | $ | 1,258 | |||||||||
Proposed | $ | 103 | $ | 330 | $ | 575 | $ | 1,279 | ||||||||||
Columbia Value and Restructuring Fund
Columbia Value and | Class A | Class C | Class I | Class R | Class W | |||||||||||||||||||||||||||||||||||
| Current | Proposed | Current | Proposed | Current | Proposed | Current | Proposed | Current | Proposed | |||||||||||||||||||||||||||||||
Management Fees1 | 0.75 | % | 0.75 | % | 0.75 | % | 0.75 | % | 0.75 | % | 0.75 | % | 0.75 | % | 0.75 | % | 0.75 | % | 0.75 | % | ||||||||||||||||||||
Distribution and/or Service (Rule 12b-1) Fees | 0.25 | % | 0.25 | % | 1.00 | % | 1.00 | % | 0.00 | % | 0.00 | % | 0.50 | % | 0.50 | % | 0.25 | % | 0.25 | % | ||||||||||||||||||||
Other Expenses2 | 0.21 | % | 0.21 | % | 0.21 | % | 0.21 | % | 0.04 | % | 0.04 | % | 0.21 | % | 0.21 | % | 0.21 | % | 0.21 | % | ||||||||||||||||||||
Total Annual Fund Operating Expenses | 1.21 | % | 1.21 | % | 1.96 | % | 1.96 | % | 0.79 | % | 0.79 | % | 1.46 | % | 1.46 | % | 1.21 | % | 1.21 | % | ||||||||||||||||||||
Fee Waivers and/or Reimbursements3 | (0.02 | )% | 0.00 | % | (0.02 | )% | 0.00 | % | 0.00 | % | 0.00 | % | (0.02 | )% | 0.00 | % | (0.02 | )% | 0.00 | % | ||||||||||||||||||||
Total Annual Fund Operating Expenses after Fee Waivers and/or Reimbursements | 1.19 | % | 1.21 | % | 1.94 | % | 1.96 | % | 0.79 | % | 0.79 | % | 1.44 | % | 1.46 | % | 1.19 | % | 1.21 | % | ||||||||||||||||||||
Columbia Value and | Class Z | |||||||
| Current | Proposed | |||||||
Management Fees1 | 0.75 | % | 0.75 | % | ||||
Distribution and/or Service (Rule 12b-1) Fees | 0.00 | % | 0.00 | % | ||||
Other Expenses2 | 0.21 | % | 0.21 | % | ||||
Total Annual Fund Operating Expenses | 0.96 | % | 0.96 | % | ||||
Fee Waivers and/or Reimbursements3 | (0.02 | )% | 0.00 | % | ||||
Total Annual Fund Operating Expenses after Fee Waivers and/or Reimbursements | 0.94 | % | 0.96 | % | ||||
|
|
|
This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same. Since the waivers and/or reimbursements shown in the table above expire on July 31, 2012, they are only reflected in the 1 year example and for a 1 year period in each of the 3, 5 and 10 year examples. Although your actual costs may be higher or lower, based on these assumptions your costs would be:
Columbia Value and | 1 year | 3 years | 5 years | 10 years | ||||||||||||||
Class A | Current | $ | 689 | $ | 935 | $ | 1,200 | $ | 1,955 | |||||||||
Proposed | $ | 689 | $ | 935 | $ | 1,200 | $ | 1,955 | ||||||||||
Class C | Current | |||||||||||||||||
Did not sell your shares | $ | 197 | $ | 613 | $ | 1,055 | $ | 2,284 | ||||||||||
Sold your shares at end of period | $ | 297 | $ | 613 | $ | 1,055 | $ | 2,284 | ||||||||||
Proposed | ||||||||||||||||||
Did not sell your shares | $ | 197 | $ | 613 | $ | 1,055 | $ | 2,284 | ||||||||||
Sold your shares at end of period | $ | 297 | $ | 613 | $ | 1,055 | $ | 2,284 | ||||||||||
Class I | Current | $ | 81 | $ | 252 | $ | 439 | $ | 978 | |||||||||
Proposed | $ | 81 | $ | 252 | $ | 439 | $ | 978 | ||||||||||
Class R | Current | $ | 147 | $ | 460 | $ | 796 | $ | 1,745 | |||||||||
Proposed | $ | 147 | $ | 460 | $ | 796 | $ | 1,745 | ||||||||||
Class W | Current | $ | 121 | $ | 382 | $ | 663 | $ | 1,464 | |||||||||
Proposed | $ | 121 | $ | 382 | $ | 663 | $ | 1,464 | ||||||||||
Class Z | Current | $ | 96 | $ | 304 | $ | 529 | $ | 1,176 | |||||||||
Proposed | $ | 96 | $ | 304 | $ | 529 | $ | 1,176 | ||||||||||
APPENDIX D
Shares Outstanding
As of the Record Date, each Fund had outstanding the following number of shares of the classes indicated below.
Fund | Class A | Class B | Class C | Class E | Class F | Class I | Class R | Class R4 | Class R5 | Class T | Class W | Class Y | Class Z | Total | ||||||||||||||||||||||||||||||||||||||||||
Columbia Balanced Fund | 3,334,956 | 263,160 | 1,171,802 | — | — | — | 102 | — | — | — | — | — | — | 13,937,561 | ||||||||||||||||||||||||||||||||||||||||||
Columbia Bond Fund | 1,515,700 | 259,908 | — | — | 1,528,544 | — | — | — | — | — | 2,591,404 | 72,516,756 | 78,412,576 | |||||||||||||||||||||||||||||||||||||||||||
Columbia California Tax-Exempt Fund | 33,841,883 | 210,191 | 4,161,952 | — | — | — | — | — | — | — | — | — | — | 50,399,313 | ||||||||||||||||||||||||||||||||||||||||||
Columbia Connecticut Tax-Exempt Fund | 9,868,018 | 310,227 | 1,623,843 | — | — | — | — | — | — | — | — | — | — | 11,802,404 | ||||||||||||||||||||||||||||||||||||||||||
Columbia Contrarian Core Fund | 9,307,031 | 313,810 | 1,642,312 | — | — | 5,828,987 | 198 | — | — | 8,794,195 | 4,906,097 | — | — | 53,670,218 | ||||||||||||||||||||||||||||||||||||||||||
Columbia Corporate Income Fund | 8,642,856 | 513,441 | 1,116,786 | — | — | 254 | — | — | — | — | — | — | — | 55,246,928 | ||||||||||||||||||||||||||||||||||||||||||
Columbia Emerging Markets Fund | 850,373 | — | 176,718 | — | — | 1,200,864 | 214 | — | — | — | — | — | — | 37,779,437 | ||||||||||||||||||||||||||||||||||||||||||
Columbia Energy and Natural Resources Fund | 2,499,676 | — | 888,837 | — | — | 4,431,610 | 133 | — | — | — | — | — | — | 35,747,462 | ||||||||||||||||||||||||||||||||||||||||||
Columbia High Yield Municipal Fund | 6,991,527 | 517,587 | 1,014,951 | — | — | — | — | — | — | — | — | — | — | 79,499,059 | ||||||||||||||||||||||||||||||||||||||||||
Columbia High Yield Opportunity Fund | 47,784,247 | 2,883,571 | 3,254,472 | — | — | — | — | — | — | — | — | — | — | 79,685,380 | ||||||||||||||||||||||||||||||||||||||||||
Columbia Intermediate Bond Fund | 18,645,081 | 1,787,777 | 3,584,095 | — | — | 2,426,468 | 235,021 | — | — | — | — | — | — | 237,125,120 | ||||||||||||||||||||||||||||||||||||||||||
Columbia Intermediate Municipal Bond Fund | 9,004,658 | 244,443 | 2,120,393 | — | — | — | — | — | — | 945,622 | — | — | — | 232,369,580 | ||||||||||||||||||||||||||||||||||||||||||
Columbia International Bond Fund | 114,018 | — | 40,093 | — | — | 221 | — | — | — | — | — | — | — | 1,527,729 | ||||||||||||||||||||||||||||||||||||||||||
Columbia Large Cap Growth Fund | 7,147,351 | 680,955 | 813,971 | 613,710 | 22,427 | 7,402,287 | 121 | — | — | 6,843,568 | 121 | 740,921 | 37,527,983 | 61,793,414 | ||||||||||||||||||||||||||||||||||||||||||
Columbia Pacific/Asia Fund | 119,967 | — | 7,208 | — | — | 631,042 | — | — | — | — | — | — | — | 5,116,984 | ||||||||||||||||||||||||||||||||||||||||||
Columbia Real Estate Equity Fund | 2,201,905 | — | 561,504 | — | — | 2,851,958 | 213 | — | — | — | — | — | — | 30,456,984 | ||||||||||||||||||||||||||||||||||||||||||
Columbia Select Large Cap Growth Fund | 73,809,316 | — | 471,284 | — | — | 3,814,503 | 173,199 | — | — | — | — | — | — | 297,214,712 | ||||||||||||||||||||||||||||||||||||||||||
Columbia Select Small Cap Fund | 1,003,395 | — | 80,391 | — | — | — | — | — | — | — | — | — | — | 33,965,925 | ||||||||||||||||||||||||||||||||||||||||||
Columbia Small Cap Core Fund | 9,739,176 | 1,231,344 | 1,663,048 | — | — | — | — | — | — | 5,492,045 | 4,597,831 | — | — | 53,373,681 | ||||||||||||||||||||||||||||||||||||||||||
Columbia Strategic Income Fund | 161,622,576 | 12,471,809 | 31,516,019 | — | — | — | — | — | — | — | — | — | — | 316,768,260 | ||||||||||||||||||||||||||||||||||||||||||
Columbia Strategic Investor Fund | 8,847,460 | 1,239,224 | 1,014,528 | — | — | — | 147 | — | — | — | — | 816,796 | 33,188,224 | 45,106,673 | ||||||||||||||||||||||||||||||||||||||||||
Columbia Value and Restructuring Fund | 5,427,820 | — | — | — | — | — | 1,245,694 | — | — | — | — | — | — | 130,569,831 | ||||||||||||||||||||||||||||||||||||||||||
| Class A | Class B | Class C | Class R | Class K | Class Z | Total | ||||||||||||||||||||||
Columbia Capital Allocation Aggressive Portfolio | 43,528,079.286 | 3,489,897.025 | 3,357,598.306 | 5,988.300 | 36,981.232 | 36,153.069 | 50,454,697.218 | |||||||||||||||||||||
Columbia Capital Allocation Conservative Portfolio | 25,942,938.955 | 1,845,693.320 | 4,115,620.855 | 6,308.112 | 5,470.364 | 53,992.573 | 31,970,024.179 | |||||||||||||||||||||
Columbia Capital Allocation Moderate Portfolio | 114,065,710.493 | 8,199,348.376 | 11,073,015.832 | 11,642.633 | 24,468.168 | 189,479.611 | 133,563,665.113 | |||||||||||||||||||||
| Class A | Class B | Class C | Class R4 | Class R5 | Class Z | Total | ||||||||||||||||||||||
Columbia Technology Fund | 4,325,238.211 | 334,803.461 | 1,462,849.709 | 232.992 | 232.992 | 6,035,109.823 | 12,158,467.188 | |||||||||||||||||||||
| Class A | Class B | Class C | Class I | Class W | Class Z | Total | ||||||||||||||||||||||
Columbia Absolute Return Currency & Income Fund | 2,929,258.307 | 45,603.686 | 299,764.325 | 4,741,875.478 | 1,096,370.178 | 883,360.196 | 9,996,232.170 | |||||||||||||||||||||
| Class 1 | Class 2 | Class 3 | Total | |||||||||||||
Columbia Variable Portfolio – Short Duration U.S. Government Income Fund | 118,084,295.572 | 3,100,241.024 | 29,374,542.418 | 150,559,079.014 | ||||||||||||
| Class 1 | Class 2 | Total | ||||||||||
Columbia Variable Portfolio – Seligman Global Technology Fund | 1,162,669.078 | 3,300,219.672 | 4,462,888.750 | |||||||||
| Class A | Class B | Class C | Class I | Class K | Class R | Class R4 | Class R5 | Class Z | Total | |||||||||||||||||||||||||||||||
Columbia Seligman Communications and Information Fund | 56,333,908.033 | 1,177,703.618 | 18,039,152.590 | 145.180 | 21,639.263 | 951,032.938 | 600.279 | 322,514.362 | 4,256,841.702 | 81,103,537.965 | ||||||||||||||||||||||||||||||
Columbia Seligman Global Technology Fund | 15,241,087.449 | 444,861.548 | 3,730,336.213 | 544.166 | 10,406.117 | 404,049.907 | 123.762 | 8,490.898 | 1,143,301.930 | 20,983,201.990 | ||||||||||||||||||||||||||||||
Number of Votes to which Each Class is Entitled
As of the Record Date, each class of each Fund is entitled to the following number of votes:
Fund | Class A | Class B | Class C | Class E | Class F | Class I | Class R | Class R4 | Class R5 | Class T | Class W | Class Y | Class Z | Total | ||||||||||||||||||||||||||||||||||||||||||
Columbia Balanced Fund | 87,142,396 | 6,871,117 | 30,595,739 | — | — | — | 2,653 | — | — | — | — | — | 239,181,149 | 363,793,055 | ||||||||||||||||||||||||||||||||||||||||||
Columbia Bond Fund | 13,989,913 | — | 2,398,954 | — | — | 14,123,748 | — | — | — | — | 2,423 | 23,944,574 | 669,329,660 | 723,789,272 | ||||||||||||||||||||||||||||||||||||||||||
Columbia California Tax-Exempt Fund | 236,554,761 | 1,469,237 | 29,092,043 | — | — | — | — | — | — | — | — | — | 85,175,155 | 352,291,195 | ||||||||||||||||||||||||||||||||||||||||||
Columbia Connecticut Tax-Exempt Fund | 73,220,696 | 2,301,884 | 12,048,914 | — | — | — | — | — | — | — | — | — | 2,340 | 87,573,835 | ||||||||||||||||||||||||||||||||||||||||||
Columbia Contrarian Core Fund | 130,577,642 | 4,117,189 | 21,563,561 | — | — | 82,072,141 | 2,783 | — | — | 122,503,130 | 68,832,548 | — | 322,345,205 | 752,014,201 | ||||||||||||||||||||||||||||||||||||||||||
Columbia Corporate Income Fund | 83,230,703 | 4,944,432 | 10,754,653 | — | — | 2,448 | — | — | — | — | 72,806,303 | — | 360,289,374 | 532,027,913 | ||||||||||||||||||||||||||||||||||||||||||
Columbia Emerging Markets Fund | 9,481,661 | — | 1,959,804 | — | — | 13,377,628 | 2,385 | — | — | — | 44,391,995 | — | 351,688,938 | 420,902,411 | ||||||||||||||||||||||||||||||||||||||||||
Columbia Energy and Natural Resources Fund | 55,617,782 | — | 19,341,095 | — | — | 99,002,162 | 2,964 | — | — | — | — | — | 623,614,510 | 797,578,513 | ||||||||||||||||||||||||||||||||||||||||||
Columbia High Yield Municipal Fund | 66,139,845 | 4,896,375 | 9,601,433 | — | — | — | — | — | — | — | — | — | 671,423,450 | 752,061,102 | ||||||||||||||||||||||||||||||||||||||||||
Columbia High Yield Opportunity Fund | 191,136,988 | 11,534,286 | 13,017,889 | — | — | — | — | — | — | — | — | — | 103,052,359 | 318,741,521 | ||||||||||||||||||||||||||||||||||||||||||
Columbia Intermediate Bond Fund | 168,365,084 | 16,143,623 | 32,364,379 | — | — | 21,911,004 | 2,122,240 | — | — | — | 2,469 | — | 1,900,331,033 | 2,141,239,832 | ||||||||||||||||||||||||||||||||||||||||||
Columbia Intermediate Municipal Bond Fund | 91,667,421 | 2,488,429 | 21,585,598 | — | — | — | — | — | — | 9,626,429 | — | — | 2,240,154,450 | 2,365,522,328 | ||||||||||||||||||||||||||||||||||||||||||
Columbia International Bond Fund | 1,246,219 | — | 438,218 | — | — | 2,414 | — | — | — | — | — | — | 15,011,228 | 16,698,079 | ||||||||||||||||||||||||||||||||||||||||||
Columbia Large Cap Growth Fund | 165,246,750 | 14,477,112 | 17,313,169 | 14,170,556 | 476,568 | 174,842,008 | 2,799 | — | — | 157,196,757 | 2,795 | 17,500,549 | 886,410,952 | 1,447,640,015 | ||||||||||||||||||||||||||||||||||||||||||
Columbia Pacific/Asia Fund | 1,004,125 | — | 59,826 | — | — | 5,307,064 | — | — | — | — | — | — | 36,700,818 | 43,071,832 | ||||||||||||||||||||||||||||||||||||||||||
Columbia Real Estate Equity Fund | 26,202,674 | 2,904,183 | 6,681,901 | — | — | 33,995,339 | 2,532 | — | — | — | 2,534 | — | 293,205,242 | 362,994,406 | ||||||||||||||||||||||||||||||||||||||||||
Columbia Select Large Cap Growth Fund | 932,211,661 | — | 5,806,225 | — | — | 48,520,479 | 2,132,074 | — | — | — | 2,829 | — | 2,782,806,026 | 3,771,479,295 | ||||||||||||||||||||||||||||||||||||||||||
Columbia Select Small Cap Fund | 17,609,574 | — | 1,377,090 | — | — | — | 9,557,620 | — | — | — | — | — | 570,827,964 | 599,372,248 | ||||||||||||||||||||||||||||||||||||||||||
Columbia Small Cap Core Fund | 149,788,520 | 16,881,728 | 22,833,654 | — | — | 2,115,953 | — | — | — | 83,039,723 | 70,714,637 | — | 482,465,636 | 827,839,850 | ||||||||||||||||||||||||||||||||||||||||||
Columbia Strategic Income Fund | 982,665,261 | 75,703,878 | 191,617,394 | — | — | — | 2,468 | — | — | — | 2,468 | — | 668,053,839 | 1,918,045,307 | ||||||||||||||||||||||||||||||||||||||||||
Columbia Strategic Investor Fund | 166,155,293 | 22,343,204 | 18,302,090 | — | — | 2,763 | 2,764 | — | — | — | 2,768 | 15,355,758 | 624,602,368 | 846,767,008 | ||||||||||||||||||||||||||||||||||||||||||
Columbia Value and Restructuring Fund | 265,040,457 | — | 67,568,214 | — | — | 20,946,473 | 60,777,432 | — | — | — | 2,808 | — | 5,958,792,443 | 6,373,127,825 | ||||||||||||||||||||||||||||||||||||||||||
| Class A | Class B | Class C | Class K | Class R | Class Z | Total | ||||||||||||||||||||||
Columbia Capital Allocation Aggressive Portfolio | $ | 470,103,256.29 | $ | 37,376,797.14 | $ | 35,523,390.08 | $ | 400,506.74 | $ | 64,374.23 | $ | 390,091.61 | $ | 543,858,416.09 | ||||||||||||||
Columbia Capital Allocation Conservative Portfolio | $ | 279,146,023.16 | $ | 19,804,289.32 | $ | 44,078,299.36 | $ | 58,423.49 | $ | 67,875.29 | $ | 580,960.09 | $ | 343,735,870.69 | ||||||||||||||
Columbia Capital Allocation Moderate Portfolio | $ | 1,283,239,243.05 | $ | 91,832,701.81 | $ | 123,796,317.00 | $ | 275,022.21 | $ | 130,746.77 | $ | 2,129,750.83 | $ | 1,501,403,781.66 | ||||||||||||||
| Class A | Class B | Class C | Class R4 | Class R5 | Class Z | Total | ||||||||||||||||||||||
Columbia Technology Fund | $ | 45,717,767.89 | $ | 3,311,206.23 | $ | 14,496,840.62 | $ | 2,551.26 | $ | 2,551.26 | $ | 65,360,239.38 | $ | 128,891,156.64 | ||||||||||||||
| Class A | Class B | Class C | Class I | Class W | Class Z | Total | ||||||||||||||||||||||
Columbia Absolute Return Currency & Income Fund | $ | 30,142,067.98 | $ | 454,668.75 | $ | 2,985,652.68 | $ | 49,837,111.27 | $ | 11,259,721.73 | $ | 9,266,448.46 | $ | 103,945,670.86 | ||||||||||||||
| Class 1 | Class 2 | Class 3 | Total | |||||||||||||
Columbia Variable Portfolio – Short Duration U.S. Government Fund | $ | 1,237,523,417.59 | $ | 32,397,518.70 | $ | 307,845,204.54 | $ | 1,577,766,140.84 | ||||||||
| Class 1 | Class 2 | Total | ||||||||||
Columbia Variable Portfolio – Seligman Global Technology Fund | 1,162,669.078 | 3,300,219.672 | 4,462,888.750 | |||||||||
Columbia Seligman Communications and Information Fund Columbia Seligman Global Technology Fund Class A Class B Class C Class I Class K Class R Class R4 Class R5 Class Z Total $ 2,397,007,786.80 $ 40,618,997.78 $ 622,711,547.41 $ 6,508.42 $ 960,134.10 $ 39,382,273.96 $ 25,007.62 $ 14,435,742.84 $ 190,323,392.50 $ 3,305,471,391.44 $ 309,394,075.21 $ 7,673,861.70 $ 64,310,996.31 $ 11,177.17 $ 212,388.85 $ 8,028,471.65 $ 2,560.64 $ 173,978.50 $ 23,403,390.51 $ 413,210,900.54
Principal Holders and Control Persons
As of November 30, 2010,October 31, 2012, the name, address and percentage of ownership of each person who may be deemed to be a “principal holder” (i.e., owns of record or is known by the Trust to own beneficially 5% or more of any class of a Fund’s outstanding shares) and each investor who owned 25% or more of a Fund’s shares (all share classes taken together) is listed below. Investors who own more than 25% of a Fund’s shares may be presumed under securities laws to control the Fund and may be able to determine the outcome of issues that are submitted to shareholders for vote. The table is organized by fiscal year end.
| Principal Holder Ownership of the Funds with Fiscal Years Ending March 31: | ||||||||||||||
Fund | Shareholder Name, City and State | Share Class | % of Share Class | % of Fund | ||||||||||
Columbia Bond Fund | Bank of America, N.A. Trustee, Attn: Betty Barley/Funds Accounting, 1201 Main St. 10th Fl., Dallas, TX 75202-3908 (“BofA – TX”) | Z | 62.51 | % | 57.72 | % | ||||||||
| Charles Schwab & Co. Inc. Special Custody A/C For Benefit of Customers, Attn: Mutual Funds, 101 Montgomery St., San Francisco, CA 94104-4151 (“Charles Schwab, Mutual Funds – CA”) | Z | 6.89 | % | — | ||||||||||
Edward D. Jones & Co. Mutual Fund Shareholder Accounting, 201 Progress Pkwy, Maryland Heights, MO 63043-3009 (“Edward D. Jones, Mutual Funds – MO”) | A | 15.12 | % | — | ||||||||||
| Merrill Lynch Pierce Fenner & Smith Inc For the Sole Benefit of its Customers, Attn: Service Team, 4800 Deer Lake Drive East 3rd Fl., Jacksonville, FL 32246-6484 (“ML Pierce Fenner & Smith – FL”) | A | 9.51 | % | — | ||||||||||
| ML Pierce Fenner & Smith – FL | C | 8.05 | % | — | ||||||||||
| Wells Fargo Investments LLC, 625 Marquette Ave Fl. 13, Minneapolis, MN 55402-2323 | C | 5.05 | % | — | ||||||||||
| RVS Retirement Plus 2010 Fund 1767 Ameriprise Financial Ctr, Minneapolis, MN 55474-0017 (“RVS 2010 – MN”) | I | 10.92 | % | — | ||||||||||
| RVS Retirement Plus 2015 Fund (“RVS 2015 – MN”) | I | 22.83 | % | — | ||||||||||
| RVS Retirement Plus 2020 Fund (“RVS 2020 – MN”) | I | 18.94 | % | — | ||||||||||
| RVS Retirement Plus 2025 Fund (“RVS 2025 – MN”) | I | 15.33 | % | — | ||||||||||
| RVS Retirement Plus 2030 Fund (“RVS 2030 – MN”) | I | 12.22 | % | — | ||||||||||
| RVS Retirement Plus 2035 Fund (“RVS 2035 – MN”) | I | 8.59 | % | — | ||||||||||
| RVS Retirement Plus 2040 Fund (“RVS 2040 – MN”) | I | 5.78 | % | — | ||||||||||
| RVS Retirement Plus 2045 Fund (“RVS 2045 – MN”) | I | 5.38 | % | — | ||||||||||
| Riversource Investments LLC, Attn: T. Armbrustmacher & V. Gehlhar, 50807 Ameriprise Financial Ctr, Minneapolis, MN 55474-0508 (“Riversource – MN”) | W | 100.00 | % | — | ||||||||||
| BofA – TX | Y | 99.95 | % | — | ||||||||||
Columbia Corporate Income Fund | Edward D. Jones, Mutual Funds – MO | A | 7.27 | % | ||||||||||
| ML Pierce Fenner & Smith – FL | A | 7.28 | % | — | ||||||||||
| ML Pierce Fenner & Smith – FL | B | 21.91 | % | — | ||||||||||
| ML Pierce Fenner & Smith – FL | C | 20.77 | % | — | ||||||||||
| Riversource – MN | I | 100.00 | % | — | ||||||||||
| Riversource – MN | W | 100.00 | % | — | ||||||||||
| BofA – TX | Z | 59.64 | % | 46.88 | % | |||||||||
| Charles Schwab, Mutual Funds – CA | Z | 13.35 | % | — | ||||||||||
Fund Shareholder Name, City and State Columbia Emerging Markets Fund Columbia Energy and Natural Resources Fund Columbia Intermediate Bond Fund Share
Class % of
Share
Class % of Fund ML Pierce Fenner & Smith – FL A 18.69 % — ML Pierce Fenner & Smith – FL A 21.32 % — Citigroup Global Markets, Inc., House Account, Attn: Peter Booth 7th Fl., 333 W 34th St., New York, NY 10001-2402 (“Citigroup –NY”) C 7.07 % — RVS 2015 – MN I 10.08 % — RVS 2020 – MN I 12.54 % — RVS 2025 – MN I 17.71 % — RVS 2030 – MN I 19.52 % — RVS 2035 – MN I 14.87 % — RVS 2045 – MN I 11.18 % — RVS 2040 – MN I 10.92 % — Riversource – MN R 100.00 % — Riversource – MN W 100.00 % — BofA – TX Z 27.47 % 26.14 % Charles Schwab, Mutual Funds – CA C 31.28 % 29.77 % State Street Bank and Trust Company AAF Life Goal Balanced Growth, Attn: Jim Botsolis, Two Avenue De Lafayette Boston, MA 02111-1724 (“State Street Balanced Growth – MA”) Z 6.54 % — State Street Bank and Trust Company AAF Life Goal Growth Portfolio, Attn: Jim Botsolis, Two Avenue De Lafayette Boston, MA 02111-1724 (“State Street Growth – MA”) Z 6.16 % — ML Pierce Fenner & Smith – FL A 8.43 % — Morgan Stanley Smith Barney, Harborside Financial Center Plaza 2 3rd Floor, Jersey City, NJ 07311 (“MSSB – NJ”) A 6.45 % — ML Pierce Fenner & Smith – FL C 14.90 % — SSB & Trust Co. Agent for Asset Allocation Fund, Attn: Jim Botsolis, Two Avenue De Lafayette Boston, MA 02111-1724 (“SSB Asset Allocation – MA”) I 64.85 % — SSB & Trust Co. Agent for Asset Allocation Fund VS, Attn: Jim Botsolis, Two Avenue De Lafayette Boston, MA 02111-1724 (“SSB Asset Allocation VS – MA”) I 35.11 % — Riversource – MN R 100.00 % — BofA – TX Z 19.22 % — Charles Schwab, Mutual Funds – CA Z 18.55 % — LPL Financial FBO Customer Accounts, Attn: Mutual Fund Operations, P.O. Box 509046, San Diego, CA 92150-9046 (“LPL – CA”) Z 5.31 % — State Street Balanced Growth – MA Z 6.20 % — TD Ameritrade Inc. For the Exclusive Benefit of our Clients, P.O. Box 2226, Omaha, NE 68103-2226 Z 5.83 % — ML Pierce Fenner & Smith – FL A 8.26 % — NFS LLC FEBO Transamerica Life Insurance Company, 1150 S Olive St Ste 2700, Los Angeles, CA 90015-2211 A 18.68 % — ML Pierce Fenner & Smith – FL B 31.76 % — Citigroup – NY C 12.57 % — ML Pierce Fenner & Smith – FL C 23.48 % — MSSB – NJ C 5.65 % — Riversource – MN I 100.00 % — MG Trust Co. Cust. FBO Alert Ambulance Service Inc. 401(k), 700 17th St Ste 300, Denver, CO 80202-3531 R 5.73 % —
Fund | Shareholder Name, City and State | Share Class | % of Share Class | % of Fund (if greater than 25%) | ||||||||||
Columbia Capital Allocation Aggressive Portfolio | American Enterprise Investment Services Minneapolis, MN | A | 27.69 | % | — | |||||||||
American Enterprise Investment Services Minneapolis, MN | B | 23.50 | % | — | ||||||||||
American Enterprise Investment Services Minneapolis, MN | C | 38.32 | % | — | ||||||||||
Frontier Trust Company FBO Macguire/Macguire 401k Plan Fargo, ND | R | 95.54 | % | — | ||||||||||
Wells Fargo Bank NA FBO PC Inc. Profit Sharing Plan Minneapolis, MN | K | 70.93 | % | — | ||||||||||
Charles Schwab & Co Inc. San Francisco, CA | K | 19.40 | % | — | ||||||||||
Orchard Trust Company Greenwood Village, CO | K | 6.96 | % | — | ||||||||||
TD Ameritrade, Inc. Omaha, NE | Z | 40.88 | % | — | ||||||||||
Mary Ann Merling Custodian Account Wilmington, OH | Z | 17.09 | % | — | ||||||||||
Merrill Lynch, Pierce, Fenner & Smith Jacksonville, FL | Z | 10.52 | % | — | ||||||||||
Morgan Stanley Smith Barney Jersey City, NJ | Z | 8.55 | % | — | ||||||||||
Fund Shareholder Name, City and State Columbia Pacific Asia Fund Columbia Select Large Cap Growth Fund Barclays Capital Inc., 70 Hudson St. 7th Fl., Jersey City, NJ 07302-4585 Share
Class % of
Share
Class % of Fund MG Trust Company Cust. FBO Gregory Phillies, M.D., P.C., 700 17th St Ste 300, Denver, CO 80202-3531 R 7.77 % — ML Pierce Fenner & Smith – FL R 15.40 % — Frontier Trust Co. FBO Auburn Manufacturing Co. Retirement, P.O. Box 10758, Fargo, ND 58106-0758 R 6.21 % — Raymond James & Associates, Inc. FBO, Thomas C. Davis and Steven J. Davis TTEE SB Davis Company PSP, 2695 Elmridge Dr NW, Grand Rapids, MI 49534-1302 R 6.16 % — Frontier Trust Co. FBO Reggio Register Co. Inc. 401(k), P.O. Box 10758, Fargo, ND 58106-0758 R 18.47 % — Frontier Trust Co FBO Thomas J. King Jr., DDS, PCP, P.O. Box 10758, Fargo, ND 58106-0758 R 9.58 % — Columbia Management Investment Adviser LLC, Attn: T. Armbrustmacher & V. Gehlhar, 50807 Ameriprise Financial Ctr, Minneapolis, MN 55474-0508 (“Columbia Mgmt – MN”) W 100.00 % 44.46 % BofA – TX Z 49.49 % — Charles Schwab, Mutual Funds – CA Z 6.60 % — Citigroup – NY Z 5.66 % — Columbia Management Advisors Inc. FBO Col Moderate Growth NY 529, Attn: Jim Marin, 245 Summer St Fl. 3 MS, Boston, MA 02210-1133 Z 5.45 % — LPL – CA A 40.60 % — Pershing LLC, P.O. Box 2052, Jersey City, NJ 07303-2052 (“Pershing – NJ”) A 9.17 % — First Clearing LLC, 2801 Market St, St. Louis, MO 63103-2523 C 31.64 % — First Clearing LLC, Betty Jean Ghosh Tr Betty Jean Ghosh TTEE, 245 Kuikahi St., Hilo, HI 96720-2223 C 8.64 % — LPL – CA C 12.22 % — MSSB – NJ C 44.60 % — RVS 2015 – MN I 10.61 % — RVS 2025 – MN I 33.99 % — RVS 2030 – MN I 18.11 % — RVS 2035 – MN I 13.80 % — RVS 2040 – MN I 10.12 % — RVS 2045 – MN I 10.37 % — BofA – TX Z 29.15 % 25.88 % Charles Schwab, Mutual Funds – CA Z 10.18 % — State Street Balanced Growth – MA Z 23.37 % — State Street Growth – MA Z 15.37 % — C 10.15 % — ML Pierce Fenner & Smith – FL C 17.58 % — MSSB – NJ C 8.89 % — Pershing, LLC, P.O. Box 2052, Jersey City, NJ 07303-2052 C 6.57 % — RVS 2015 – MN I 11.03 % — RVS 2020 – MN I 15.40 % — RVS 2025 – MN I 21.51 % — RVS 2030 – MN I 17.58 % — RVS 2035 – MN I 11.72 % — RVS 2040 – MN I 9.83 % — RVS 2045 – MN I 10.06 % — Frontier Trust Company FBO, Crose & Lemke Construction Inc. 401(k), P.O. Box 10758, Fargo, ND 58106-0758 R 13.00 % — Frontier Trust Company FBO, Jackson Services Inc. 401(k) Retirement, P.O. Box 10758, Fargo, ND 58106-0758 R 8.54 % — Frontier Trust Company FBO Network Adjusters Inc. 401(k), P.O. Box 10758, Fargo, ND 58106-0758 R 15.96 % —
Fund | Shareholder Name, City and State | Share Class | % of Share Class | % of Fund (if greater than 25%) | ||||||||||
Columbia Capital Allocation Conservative Portfolio | American Enterprise Investment Services Minneapolis, MN | A | 24.34 | % | — | |||||||||
American Enterprise Investment Services Minneapolis, MN | B | 35.72 | % | — | ||||||||||
American Enterprise Investment Services Minneapolis, MN | C | 49.73 | % | — | ||||||||||
First Clearing LLC Saint Louis, MO | C | 5.21 | % | — | ||||||||||
Wells Fargo Bank NA FBO PC Inc. Profit Sharing Plan Minneapolis, MN | K | 80.25 | % | — | ||||||||||
RiverSource Investments LLC Minneapolis, MN | K | 18.29 | % | — | ||||||||||
Frontier Trust Company FBO Macguire/Macguire 401k Plan Fargo, ND | R | 91.60 | % | — | ||||||||||
RiverSource Investments, LLC Minneapolis, MN | R | 7.96 | % | — | ||||||||||
Morgan Stanley Smith Barney Jersey City, NJ | Z | 86.66 | % | — | ||||||||||
Columbia Capital Allocation Moderate Portfolio | American Enterprise Investment Services Minneapolis, MN | A | 21.32 | % | — | |||||||||
American Enterprise Investment Services Minneapolis, MN | B | 29.79 | % | — | ||||||||||
American Enterprise Investment Services Minneapolis, MN | C | 46.67 | % | — | ||||||||||
Frontier Trust Company FBO Macguire/Macguire 401k Plan Fargo, ND | R | 49.89 | % | — | ||||||||||
MG Trust Company FBO Design Works International Inc. Denver, CO | R | 46.62 | % | — | ||||||||||
Charles Schwab & Co Inc. San Francisco, CA | K | 54.72 | % | — | ||||||||||
Fund Shareholder Name, City and State Orchard Trust Co LLC Cust Opp Funds Record K Pro Ret Pl, 8515 E Orchard Rd 2T2, Greenwood Village, CO 80111 Wilmington Trust RISC Cust FBO Watteredge Inc. Employee Sp, P.O. Box 52129, Phoenix, AZ 85072-2129 Columbia Select Small Cap Fund DCGT as TTEE and/or Cust. FBO Principal Financial Group Qualified Prin. Advtg. Omnibus, Attn: NPIO Trade Desk, 711 High St., Des Moines, IA 50392-0001 (“DCGT – IA”) Columbia Value and Restructuring Fund Share
Class % of
Share
Class % of Fund Frontier Trust Company FBO, Reggio Register Co. Inc. 401(k), P.O. Box 10758, Fargo, ND 58106-0758 R 8.64 % — R 11.30 % — Wilmington Trust RISC Cust FBO Industrial Energy, P.O. Box 52129, Phoenix, AZ 85072-2129 R 12.59 % — R 24.45 % — Columbia Mgmt – MN VS-A 100.00 % 50.03 % Columbia Mgmt – MN VS-B 100.00 % 49.97 % Riversource – MN W 100.00 % — BofA – TX Z 84.13 % 63.1 % Charles Schwab, Mutual Funds – CA Z 6.7 % — MSSB – NJ A 24.19 % — Citigroup – NY C 8.05 % — NFS LLC FEBO James Carlisle TTEE James Carlisle 2007 Revocable Trust U/A 10/29/07, 4402 Jessamine Holw, Austin, TX 78731-3512 C 14.28 % — RBC Capital Markets Corp. FBO, Martha H. Eisenlohr John E. Eisenlohr Tenant Common, 3849 Normandy, Dallas, TX 75205-2106 C 6.74 % — RBC Capital Markets Corp. FBO, Nancy H. Wilten Individual Retirement Account, 1361 Bridle Bit Rd, Flower Mound, TX 75022-6293 C 15.73 % — R 22.87 % — Frontier Trust Company FBO North Country Business Products 401(k), P.O. Box 10758 Fargo, ND 58106-0758 R 8.08 % — Wachovia Bank FBO Various Retirement Plans, 1525 West WT Harris Blvd., Charlotte, NC 28262-8522 R 5.58 % — BofA – TX Z 61.69 % 58.69 % Charles Schwab, Mutual Funds – CA Z 8.46 % — Citigroup – NY C 7.99 % — ML Pierce Fenner & Smith – FL C 15.68 % — Riversource – MN I 100.00 % — DCGT – IA R 23.44 % — DCGT as TTEE and/or Cust. FBO, Principal Financial Group Qualified FIA Omnibus, Attn: NPIO Trade Desk, 711 High St., Des Moines, IA 50392-0001 R 19.63 % — JP Morgan Chase Bank TTEE FBO, Huhtamaki Long Term Savings & Investment Plan for Hourly Employees C/O JP Morgan RPS 5500 Team, 9300 Ward Pkwy, Kansas City, MO 64114-3317 (“JP Morgan – MO”) R 21.38 % — Riversource – MN W 100.00 % — BofA – TX Z 16.13 % — Charles Schwab, Mutual Funds – CA Z 28.32 % 26.56 % John Hancock Life Insurance Co. USA, RPS Seg Funds & Accounting ET-7, 601 Congress St, Boston, MA 02210-2804 Z 6.07 % — ML Pierce Fenner & Smith – FL Z 10.91 % —
Fund | Shareholder Name, City and State | Share Class | % of Share Class | % of Fund (if greater than 25%) | ||||||||||
Wells Fargo Bank NA FBO PC Inc Profit Sharing Plan Minneapolis, MN | K | 20.99 | % | — | ||||||||||
Deborah Aleyne Lapeyre Barbara, Mulberry Technologies Inc. 401k Rockville, MD | K | 16.44 | % | — | ||||||||||
Morgan Stanley Smith Barney Jersey City, NJ | Z | 48.08 | % | — | ||||||||||
MG Trust Company Cust FBO Huppins Hi-Fi Photo & Video Denver, CO | Z | 15.13 | % | — | ||||||||||
TD Ameritrade, Inc. Omaha, NE | Z | 13.17 | % | — | ||||||||||
Principal Holder Ownership of the Funds with Fiscal Years Ending May 31:
Fund Shareholder Name, City and State Columbia High Yield Opportunity Fund Edward D. Jones & Co., 201 Progress Pkwy, Maryland Heights, MO 63043-3009 (“Edward D. Jones – MO”) Columbia International Bond Fund Columbia Strategic Income Fund Fund Shareholder Name, City and State Columbia High Yield Municipal Fund Fund Shareholder Name, City and State Columbia Balanced FundPrincipal Holder Ownership of the Funds with Fiscal Years Ending May 31: Share
Class % of
Share
Class % of
Fund A 8.70 % — ML Pierce Fenner & Smith – FL A 14.19 % — Citigroup – NY B 9.19 % — ML Pierce Fenner & Smith – FL B 13.49 % — Citigroup – NY C 5.29 % — ML Pierce Fenner & Smith – FL C 13.82 % — BofA – TX Z 78.75 % 25.62 % Edward D. Jones, Mutual Funds – MO A 5.58 % — LPL – CA A 7.15 % — American Enterprise Inv Svcs, Inc., FBO, Attn: MFIS Customer, P.O. Box 9446, Minneapolis, MN 55440-9446 C 7.15 % — ML Pierce Fenner & Smith – FL C 17.05 % — Riversource – MN I 100.00 % — BofA – TX Z 59.97 % 54.17 % Columbia Mgmt – MN Z 37.41 % 33.79 % ML Pierce Fenner & Smith – FL A 10.13 % — ML Pierce Fenner & Smith – FL B 25.45 % — Citigroup – NY C 5.46 % — ML Pierce Fenner & Smith – FL C 28.90 % — Riversource – MN R 100.00 % — Riversource – MN W 100.00 % — BofA – TX Z 70.26 % — Charles Schwab, Mutual Funds – CA Z 5.81 % — ML Pierce Fenner & Smith – FL Z 8.91 % — Principal Holder Ownership of the Funds with Fiscal Years Ending June 30: Share
Class % of
Share
Class % of
Fund Edward D. Jones – MO A 7.72 % — ML Pierce Fenner & Smith – FL A 24.30 % — ML Pierce Fenner & Smith – FL B 35.97 % — LPL – CA C 5.21 % — ML Pierce Fenner & Smith – FL C 32.67 % — BofA – TX Z 82.17 % 73.40 % Principal Holder Ownership of the Funds with Fiscal Years Ending August 31: Share
Class % of
Share
Class % of
Fund Citigroup – NY A 5.23 % — ML Pierce Fenner & Smith – FL A 5.71 % — Taynik & Co. C/O Investors Bank & Trust Co., 200 Clarendon St, Boston, MA 02116-5021 A 8.66 % — ML Pierce Fenner & Smith – FL B 22.93 % — MSSB – NJ B 6.92 % — Citigroup – NY C 10.55 % —
Fund | Shareholder Name, City and State | Share Class | % of Share Class | % of Fund (if greater than 25%) | ||||||||||
Columbia Seligman Communications and Information Fund | Merrill Lynch, Pierce, Fenner & Smith Jacksonville, FL | A | 9.72 | % | — | |||||||||
American Enterprise Investment Services Minneapolis, MN | A | 8.48 | % | — | ||||||||||
First Clearing LLC Saint Louis, MO | A | 7.39 | % | — | ||||||||||
National Financial Services LLC New York, NY | A | 7.00 | % | — | ||||||||||
Morgan Stanley Smith Barney Jersey City, NJ | A | 6.88 | % | — | ||||||||||
Pershing LLC Jersey City, NJ | A | 5.92 | % | — | ||||||||||
UBS WM USA Weehawken, NJ | A | 5.45 | % | — | ||||||||||
Merrill Lynch, Pierce, Fenner & Smith Jacksonville, FL | B | 21.61 | % | — | ||||||||||
Morgan Stanley Smith Barney Jersey City, NJ | B | 12.11 | % | — | ||||||||||
First Clearing LLC Saint Louis, MO | B | 10.89 | % | — | ||||||||||
Fund | Shareholder Name, City and State | Share Class | % of Share Class | % of Fund than 25%) | ||||||||||
American Enterprise Investment Services Minneapolis, MN | % | — | ||||||||||||
Pershing LLC Jersey City, NJ | % | — | ||||||||||||
Raymond James St. Petersburg, FL | % | — | ||||||||||||
Merrill Lynch, Pierce, Fenner & Smith Jacksonville, FL | % | — | ||||||||||||
Morgan Stanley Smith Barney Jersey City, NJ | % | — | ||||||||||||
First Clearing LLC Saint Louis, MO | % | — | ||||||||||||
UBS WM USA Weehawken, NJ | ||||||||||||||
| % | — | ||||||||||||
Raymond James St. Petersburg, FL | % | — | ||||||||||||
National Financial Services LLC New York, NY | C | % | — | |||||||||||
Pershing LLC Jersey City, NJ | C | 5.42 | % | — | ||||||||||
RiverSource Investments LLC Minneapolis, MN | I | 100.00 | % | — | ||||||||||
State Street Corporation Boston, MA | R | % | — | |||||||||||
Hartford Life Insurance Company Hartford, CT | % | — | ||||||||||||
MLPF&S For the Sole Benefit Jacksonville, FL | % | — | ||||||||||||
Pershing LLC Jersey City, NJ | % | — | ||||||||||||
RiverSource Investments LLC Minneapolis, MN | R4 | 25.59 | % | — | ||||||||||
Robert A. Stone & Joel L. Rve ImageHawk 401k Plan Ridgeland, MS | R4 | 20.01 | % | — | ||||||||||
Frontier Trust Co. FBO Heath Consultants Inc. PS 401k Fargo, ND | K | 77.50 | % | — | ||||||||||
Frontier Trust CO FBO Red River Employees FCU 401k Plan Fargo, ND | K | 9.85 | % | — | ||||||||||
Fund | Shareholder Name, City and State | Share Class | % of Share Class | % of Fund (if greater than 25%) | ||||||||||
Charles Schwab & Co Inc. San Francisco, CA | K | 6.83 | % | — | ||||||||||
Merrill Lynch, Pierce, Fenner & Smith Jacksonville, FL | R5 | 56.65 | % | — | ||||||||||
Charles Schwab & Co Inc. San Francisco, CA | R5 | 14.35 | % | — | ||||||||||
Hartford Securities Distribution Hartford, CT | R5 | 5.75 | % | — | ||||||||||
Merrill Lynch, Pierce, Fenner & Smith Jacksonville, FL | Z | 40.11 | % | — | ||||||||||
First Clearing LLC Saint Louis, MO | Z | 19.87 | % | — | ||||||||||
Morgan Stanley Smith Barney Jersey City, NJ | Z | 15.41 | % | — | ||||||||||
Jader Trust No. 4 Trust New York, NY | Z | 6.46 | % | — | ||||||||||
Principal Holder Ownership of the Funds with Fiscal Years Ending August 31:
Fund | Shareholder Name, City and State | Share Class | % of Share Class | % of Fund (if greater than 25%) | ||||||||||
Columbia | American Enterprise Investment Services Minneapolis, MN | A | 15.95 | % | — | |||||||||
Pershing LLC Jersey City, NJ | A | 12.71 | % | |||||||||||
Pershing LLC Jersey City, NJ | B | % | — | |||||||||||
First Clearing LLC St Louis, MO | B | 14.40 | % | |||||||||||
Morgan Stanley Smith Barney Jersey City, NJ | B | 13.24 | % | |||||||||||
Merrill Lynch, Pierce, Fenner & Smith Jacksonville, FL | B | 12.91 | % | |||||||||||
American Enterprise Investment Services Minneapolis, MN | B | 10.93 | % | — | ||||||||||
National Financial Services LLC New York, NY | B | 8.27 | % | — | ||||||||||
Merrill Lynch, Pierce, Fenner & Smith Jacksonville, FL | C | % | — | |||||||||||
Morgan Stanley Smith Barney Jersey City, NJ | C | 10.78 | % | — | ||||||||||
Fund | Shareholder Name, City and State | Share Class | % of Share Class | % of Fund (if greater than 25%) | ||||||||||
First Clearing LLC St Louis, MO | C | 8.75 | % | — | ||||||||||
Pershing LLC Jersey City, NJ | C | 7.06 | % | — | ||||||||||
Merrill Lynch, Pierce, Fenner & Smith Jacksonville, FL | Z | 34.40 | % | — | ||||||||||
Charles Schwab & Co., Inc. San Fransisco, CA | Z | 12.88 | % | — | ||||||||||
LPL Financial San Diego, CA | Z | 8.04 | % | — | ||||||||||
Principal Holder Ownership of the Funds with Fiscal Years Ending October 31:
Fund | Shareholder Name, City and State | Share Class | % of Share Class | % of Fund (if greater than 25%) | ||||||||||
Columbia Absolute Return Currency and Income Fund | American Enterprise Investment Services Minneapolis, MN | A | 48.53 | % | — | |||||||||
American Enterprise Investment Services Minneapolis, MN | B | 39.28 | % | — | ||||||||||
American Enterprise Investment Services Minneapolis, MN | C | 34.18 | % | — | ||||||||||
Merrill Lynch Pierce Fenner & Smith Jacksonville, FL | C | 18.66 | % | — | ||||||||||
Morgan Stanley Smith Barney Jersey City, NJ | C | 8.93 | % | — | ||||||||||
First Clearing LLC Saint Louis, MO | C | 7.84 | % | — | ||||||||||
Columbia LifeGoal Balanced Portfolio Minneapolis, MN | I | % | — | |||||||||||
Columbia Income Builder Fund Minneapolis, MN | I | % | — | |||||||||||
Columbia LifeGoal Income Portfolio Minneapolis, MN | I | % | — | |||||||||||
American Enterprise Investment Services Minneapolis, MN | % | — | ||||||||||||
Merrill Lynch, Pierce, Fenner & Smith Jacksonville, FL | % | — | ||||||||||||
National Financial Services LLC New York, NY | Z | % | — | |||||||||||
Fund | Shareholder Name, City and State | Share Class | % of Share Class | % of Fund (if greater than 25%) | ||||||||||
Morgan Stanley Smith Jersey City, NJ | Z | |||||||||||||
| % | — | |||||||||||||
Columbia | American Enterprise Investment Services Minneapolis, MN | % | — | |||||||||||
Merrill Lynch, Pierce, Fenner & Smith Jacksonville, FL | % | — | ||||||||||||
American Enterprise Investment Services Minneapolis, MN | % | — | ||||||||||||
Merrill Lynch, Pierce, Fenner & Smith Jacksonville, FL Fargo, ND | 5.35 | % | — | |||||||||||
Merrill Lynch, Pierce, Fenner & Smith Jacksonville, FL | C | 18.63 | % | — | ||||||||||
Morgan Stanley Smith Barney Jersey City, NJ | C | 9.66 | % | — | ||||||||||
First Clearing LLC St. Louis, MO | C | 8.03 | % | — | ||||||||||
Raymond James St. Petersburg, FL | C | 7.12 | % | — | ||||||||||
UBS WM USA Weehawken, NJ | C | 6.81 | % | — | ||||||||||
Pershing Jersey City, NJ | C | 6.34 | % | — | ||||||||||
Riversource Investments, LLC Minneapolis, MN | I | 100.00 | % | — | ||||||||||
Charles Schwab & Co Inc. San Francisco, CA | % | — | ||||||||||||
Frontier Trust Company Fargo, ND | ||||||||||||||
| % | — | ||||||||||||
Hartford Life Insurance Company Hartford, CT | % | — | ||||||||||||
Merrill Lynch, Pierce, Fenner & Smith Jacksonville, FL | % | — | ||||||||||||
TD Ameritrade Trust Company Denver, CO | % | — | ||||||||||||
Patterson & Co. Charlotte, NC | % | — | ||||||||||||
Patterson & Co. Charlotte, NC | % | — | ||||||||||||
Fund | Shareholder Name, City and State | Share Class | % of Share Class | % of Fund (if greater than 25%) | ||||||||||
Merrill Lynch, Pierce, Fenner & Smith Jacksonville, FL | Z | 71.78 | % | — | ||||||||||
Morgan Stanley Smith Barney Jersey City, NJ | ||||||||||||||
| % | — | |||||||||||||
Principal Holder Ownership of the Funds with Fiscal Years Ending December 31:
Fund Shareholder Name, City and State Columbia California Tax-Exempt Fund Citigroup – NY Columbia Connecticut Tax-Exempt Fund Columbia Intermediate Municipal Bond Fund Fund Shareholder Name, City and State Columbia Real Estate Equity Fund First Clearing LLC, Barrett A. Toan & Paula O’Brien Joint Tenants, 42 Portland Pl, St. Louis, MO 63108-1242Principal Holder Ownership of the Funds with Fiscal Years Ending October 31: Share
Class % of
Share
Class % of
Fund A 5.80 % — ML Pierce Fenner & Smith – FL A 22.97 % — Citigroup – NY B 13.84 % — ML Pierce Fenner & Smith – FL B 29.64 % — MSSB – NJ B 8.65 % — Citigroup – NY C 7.77 % — ML Pierce Fenner & Smith – FL C 65.38 % — BofA – TX Z 85.33 % — ML Pierce Fenner & Smith – FL Z 9.12 % — ML Pierce Fenner & Smith – FL A 14.39 % — ML Pierce Fenner & Smith – FL B 34.00 % — Citigroup – NY C 5.54 % — ML Pierce Fenner & Smith – FL C 23.73 % — MSSB – NJ C 6.61 % — Pershing – NJ C 5.79 % — Columbia Mgmt – MN Z 100.00 % — ML Pierce Fenner & Smith – FL A 49.68 % — ML Pierce Fenner & Smith – FL B 53.52 % — ML Pierce Fenner & Smith – FL C 40.06 % — MSSB – NJ C 6.06 % — ML Pierce Fenner & Smith – FL T 6.40 % — Charles Schwab, Mutual Funds – CA T 11.10 % — BofA – TX Z 91.18 % — Principal Holder Ownership of the Funds with Fiscal Years Ending December 31 Share
Class % of
Share
Class % of
Fund A 11.41 % — MSSB – NJ A 9.29 % — ML Pierce Fenner & Smith – FL B 15.34 % — RVS 2015 – MN I 8.75 % — RVS 2020 – MN I 18.32 % — RVS 2030 – MN I 20.87 % — RVS 2035 – MN I 15.91 % — RVS 2040 – MN I 14.64 % — RVS 2045 – MN I 17.94 % — Riversource – MN R 100.00 % — Riversource – MN W 100.00 % — BofA – TX Z 36.79 % 33.04 % Charles Schwab, Mutual Funds – CA Z 20.21 % — State Street Balanced Growth – MA Z 5.05 % —
Fund | Shareholder Name, City and State | Share Class | % of Share Class | % of Fund (if greater than 25%) | ||||||||||
Columbia Variable Portfolio – Short Duration U.S. Government Fund | Variable Portfolio – Moderate Fund Minneapolis, MN | 1 | 37.23 | % | 29.13 | % | ||||||||
Variable Portfolio – Moderate Aggressive Fund Minneapolis, MN | 1 | 21.33 | % | — | ||||||||||
Variable Portfolio – Moderate Conservative Fund Minneapolis, MN | 1 | 20.53 | % | — | ||||||||||
Variable Portfolio – Conservative Fund Minneapolis, MN | 1 | 14.25 | % | — | ||||||||||
Sun Life Assurance Company Wellesley Hills, MA | 2 | 60.46 | % | — | ||||||||||
RiverSource Life Account for Inside Minneapolis, MN | 2 | 18.81 | % | — | ||||||||||
Sun Life Insurance And Annuity Co Wellesley Hills, MA | 2 | 15.44 | % | — | ||||||||||
RiverSource Life Account for Inside Minneapolis, MN | 3 | 87.41 | % | — | ||||||||||
RiverSource Life External Minneapolis, MN | 3 | 7.03 | % | — | ||||||||||
RiverSource Life NY for Inside Minneapolis, MN | 3 | 5.26 | % | — | ||||||||||
Columbia Variable Portfolio – Seligman Global Technology Fund | Great-West Life & Annuity Greenwood Village, CO | 1 | 77.70 | % | — | |||||||||
Fund Shareholder Name, City and State Share
Class % of
Share
Class % of Fund
(if greater
than 25%) Great-West Life & Annuity Greenwood Village, CO 1 15.25 % — Guardian Insurance & Annuity Bethlehem, PA 2 49.28 % 36.39 % Guardian Insurance & Annuity Bethlehem, PA 2 25.99 % —
S-6400-46 A (12/12)
NM-BOOK 2Proxy Book 5
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COLUMBIA FUNDS JOINT SPECIAL MEETING OF SHAREHOLDERS TO BE HELD ON FEBRUARY |
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The undersigned shareholder of the Fund or Funds named below hereby acknowledges receipt of the Notice of a Joint Special Meeting of Shareholders and Combined Proxy Statement/ProspectusStatement for the Joint Special Meeting of Shareholders (the “Meeting”) to be held at 1:00 p.m., Eastern time, on February 15, 2011,27, 2013, at One Financial Center, 5th Floor Conference Room A,225 Franklin Street (Room 3200 on the 32nd floor), Boston, Massachusetts 02111,MA 02110, at 10:00 a.m. (Eastern), and, revoking any previous proxies, hereby appoints J. Kevin Connaughton, Michael Clarke, Marybeth Pilat, Joseph F. DiMaria, Julian Quero, Scott R. Plummer, Christopher O. Petersen and Ryan C. Larrenaga (or any of them) as proxies for the undersigned, with full power of substitution in each of them, to attend the Meeting and any adjournments or postponements thereof and to cast on behalf of the undersigned all the votes the undersigned is entitled to cast at the Meeting and otherwise to represent the undersigned at the Meeting with all the powers possessed by the undersigned if personally present at the Meeting. Capitalized terms in this proxy card that are otherwise undefined have the meanings set forth in the Combined Proxy Statement/Prospectus.Statement.
YOUR VOTE IS IMPORTANT. Mark, sign, date and return this proxy card as soon as possible.
| VOTE VIA THE INTERNET: www.proxy-direct.com | ||||||||||||||
| VOTE VIA THE TELEPHONE: 1-800-337-3503 | ||||||||||||||
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| ___________________________________________________ | |||||||||||||
Signature | ||||||||||||||
| ___________________________________________________ | ||||||||||||||
| Additional Signature (if held jointly) | ||||||||||||||
| ___________________________________________________ | |||||||||||||
| Date CFS_23996_MB5_120412 | ||||||||||||||
FUND | FUND | FUND | ||
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Fundname Drop-In 7 | Fundname Drop-In 8 | Fundname Drop-In 9 | ||
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VOTING OPTIONS
Read your Combined Proxy Statement/ProspectusStatement and have it at hand when voting.
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THIS PROXY CARD IS VALID ONLY WHEN SIGNED AND DATED ABOVE.
THIS PROXY IS SOLICITED ON BEHALF OF THE FUND BOARD
THE BOARD(S)BOARD RECOMMENDS A VOTEFOR EACH OF THE PROPOSAL(S)PROPOSALS LISTED BELOW. THIS PROXY CARD, WHEN PROPERLY EXECUTED, WILL BE VOTED IN THE MANNER DIRECTED BELOW AND, ABSENT DIRECTION, WILL BE VOTEDFOR EACH OF THE PROPOSALS LISTED BELOW. THE PROXIES ARE ALSO AUTHORIZED TO VOTE UPON ANY OTHER BUSINESS THAT MAY PROPERLY COME BEFORE THE MEETING OR ANY ADJOURNMENTS OR POSTPONEMENTS THEREOF, INCLUDING ANY ADJOURNMENT(S) NECESSARY TO OBTAIN QUORUMS AND/OR APPROVALS.
PLEASE MARK BOXES BELOW IN BLUE OR BLACK INK AS FOLLOWS. Example:¢
| PLEASE MARK BOXES BELOW IN BLUE OR BLACK INK AS FOLLOWS. Example: ¡ | ||||||||||
¨ To voteFORall Proposals for your Fund or Funds, mark this box. No other vote is necessary. | ||||||||||
| 1. | To approve a proposed amendment to the Investment Management Services Agreement with Columbia Management Investment Advisers, LLC relating to the Fund or Funds named below, as described in the Proxy Statement. |
| FOR | AGAINST | ABSTAIN | FOR | AGAINST | ABSTAIN | |||||||||||||
Fundname Drop-In 1 | ¨ | ¨ | Fundname Drop-In 2 | ¨ | ¨ | ¨ | ||||||||||||
Fundname Drop-In 3 | ¨ | ¨ | ¨ |
| 2. | To approve a change to Columbia Absolute Return Currency and Income Fund’s fundamental policy regarding concentration, as described in the |
| FOR | ABSTAIN | |||||||||||||||||
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Fundname Drop-In 1 | ¨ | ¨ | ¨ | |||||||||||||||
| 3. | To approve a change to the below named Fund’s or Funds’ fundamental policy regarding concentration, as described in the Proxy Statement. |
| FOR | AGAINST | ABSTAIN | FOR | AGAINST | ABSTAIN | |||||||||||||
Fundname Drop-In 1 | ¨ | ¨ | ¨ | Fundname Drop-In 2 | ¨ | ¨ | ¨ | |||||||||||
Fundname Drop-In 3 | ¨ | ¨ | ¨ |
| 4. | To approve a proposal to change Columbia Variable Portfolio – Short Duration U.S. Government Fund’s investment objective from fundamental to non-fundamental, as described in the Proxy Statement. |
| FOR | AGAINST | ABSTAIN | ||||||||||||||||
Fundname Drop-In 1 | ¨ | ¨ | ¨ |
| 5. | To approve a reclassification of the below named Fund or Funds from a “diversified” fund to a “non-diversified” fund, as described in the Proxy Statement. |
| FOR | AGAINST | ABSTAIN | FOR | AGAINST | ABSTAIN | |||||||||||||
Fundname Drop-In 1 | ¨ | ¨ | ¨ | Fundname Drop-In 2 | ¨ | ¨ | ¨ | |||||||||||
Fundname Drop-In 3 | ¨ | ¨ | ¨ | Fundname Drop-In 4 | ¨ | ¨ | ¨ |
Important Notice Regarding the Availability of Proxy Materials for the Meeting
to be held on February 15, 2011.27, 2013.
The Combined Proxy Statement/ProspectusStatement for the Meeting and the
Notice of a Joint Special Meeting of Shareholders are available at:
https://www.proxy-direct.com/col22080col-23996
EVERY VOTE IS IMPORTANT! PLEASE VOTE TODAY USING ONE OF THE FOUR AVAILABLE OPTIONS!
CFS_22080_NMB2_122010CFS_23996_MB5_120412
