UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
FORM N-CSR
CERTIFIED SHAREHOLDER REPORT OF REGISTERED MANAGEMENT INVESTMENT COMPANIES
Investment Company Act file number811-09645
Columbia Funds Series Trust
(Exact name of registrant as specified in charter)
225 Franklin Street
Boston, Massachusetts 02110
(Address of principal executive offices) (Zip code)
Christopher O. Petersen, Esq.
c/o Columbia Management Investment Advisers, LLC
225 Franklin Street
Boston, Massachusetts 02110
Ryan C. Larrenaga, Esq.
c/o Columbia Management Investment Advisers, LLC
225 Franklin Street
Boston, MA 02110
(Name and address of agent for service)
Registrant's telephone number, including area code: (800) 345-6611
Date of fiscal year end: April 30
Date of reporting period: October 31, 2020
Form N-CSR is to be used by management investment companies to file reports with the Commission not later than 10 days after the transmission to stockholders of any report that is required to be transmitted to stockholders under Rule 30e-1 under the Investment Company Act of 1940 (17 CFR 270.30e-1). The Commission may use the information provided on Form N-CSR in its regulatory, disclosure review, inspection, and policymaking roles.
A registrant is required to disclose the information specified by Form N-CSR, and the Commission will make this information public. A registrant is not required to respond to the collection of information contained in Form N-CSR unless the Form displays a currently valid Office of Management and Budget ("OMB") control number. Please direct comments concerning the accuracy of the information collection burden estimate and any suggestions for reducing the burden to Secretary, Securities and Exchange Commission, 100 F Street, NE, Washington, DC 20549. The OMB has reviewed this collection of information under the clearance requirements of 44 U.S.C. § 3507.
Item 1. Reports to Stockholders.
October 31, 2020
(Unaudited)
Average annual total returns (%) (for the period ended October 31, 2020) | ||||||
Inception | 6 Months cumulative | 1 Year | 5 Years | 10 Years | ||
Class A | Excluding sales charges | 12/05/89 | 3.89 | 2.42 | 2.30 | 2.52 |
Including sales charges | 0.80 | -0.64 | 1.69 | 2.21 | ||
Advisor Class* | 03/19/13 | 4.12 | 2.77 | 2.58 | 2.80 | |
Class C | Excluding sales charges | 06/17/92 | 3.50 | 1.65 | 1.54 | 1.77 |
Including sales charges | 2.50 | 0.65 | 1.54 | 1.77 | ||
Institutional Class | 09/20/89 | 4.02 | 2.77 | 2.56 | 2.78 | |
Institutional 3 Class* | 03/01/17 | 4.16 | 2.86 | 2.65 | 2.82 | |
Bloomberg Barclays 3-15 Year Blend Municipal Bond Index | 4.67 | 3.84 | 3.41 | 3.66 |
* | The returns shown for periods prior to the share class inception date (including returns for the Life of the Fund, if shown, which are since Fund inception) include the returns of the Fund’s oldest share class. These returns are adjusted to reflect any higher class-related operating expenses of the newer share classes, as applicable. Please visit columbiathreadneedleus.com/investor/investment-products/mutual-funds/appended-performance for more information. |
Columbia Virginia Intermediate Municipal Bond Fund | Semiannual Report 2020 | 3 |
(Unaudited)
Quality breakdown (%) (at October 31, 2020) | |
AAA rating | 8.7 |
AA rating | 63.1 |
A rating | 12.4 |
BBB rating | 9.4 |
BB rating | 0.5 |
Not rated | 5.9 |
Total | 100.0 |
4 | Columbia Virginia Intermediate Municipal Bond Fund | Semiannual Report 2020 |
(Unaudited)
May 1, 2020 — October 31, 2020 | |||||||
Account value at the beginning of the period ($) | Account value at the end of the period ($) | Expenses paid during the period ($) | Fund’s annualized expense ratio (%) | ||||
Actual | Hypothetical | Actual | Hypothetical | Actual | Hypothetical | Actual | |
Class A | 1,000.00 | 1,000.00 | 1,038.90 | 1,021.06 | 4.09 | 4.05 | 0.80 |
Advisor Class | 1,000.00 | 1,000.00 | 1,041.20 | 1,022.26 | 2.87 | 2.84 | 0.56 |
Class C | 1,000.00 | 1,000.00 | 1,035.00 | 1,017.30 | 7.91 | 7.84 | 1.55 |
Institutional Class | 1,000.00 | 1,000.00 | 1,040.20 | 1,022.26 | 2.86 | 2.84 | 0.56 |
Institutional 3 Class | 1,000.00 | 1,000.00 | 1,041.60 | 1,022.71 | 2.41 | 2.38 | 0.47 |
Columbia Virginia Intermediate Municipal Bond Fund | Semiannual Report 2020 | 5 |
October 31, 2020 (Unaudited)
Floating Rate Notes 0.3% | ||||
Issue Description | Effective Yield | Principal Amount ($) | Value ($) | |
Variable Rate Demand Notes 0.3% | ||||
Virginia College Building Authority(a),(b) | ||||
Revenue Bonds | ||||
University of Richmond Project | ||||
Series 2009 (Wells Fargo Bank) | ||||
11/01/2036 | 0.130% | 400,000 | 400,000 | |
Total Floating Rate Notes (Cost $400,000) | 400,000 | |||
Municipal Bonds 96.0% | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Airport 5.8% | ||||
Capital Region Airport Commission | ||||
Refunding Revenue Bonds | ||||
Series 2016A | ||||
07/01/2034 | 4.000% | 1,125,000 | 1,238,501 | |
Metropolitan Washington Airports Authority(c) | ||||
Refunding Revenue Bonds | ||||
Airport System | ||||
Series 2019A | ||||
10/01/2033 | 5.000% | 2,000,000 | 2,488,760 | |
Forward Delivery | ||||
Series 2020A | ||||
10/01/2032 | 5.000% | 2,000,000 | 2,556,500 | |
Norfolk Airport Authority | ||||
Refunding Revenue Bonds | ||||
Series 2011 (AGM) | ||||
07/01/2024 | 5.000% | 1,000,000 | 1,026,080 | |
Revenue Bonds | ||||
Series 2019 | ||||
07/01/2033 | 5.000% | 1,000,000 | 1,208,580 | |
Total | 8,518,421 | |||
Higher Education 6.7% | ||||
Amherst Industrial Development Authority | ||||
Refunding Revenue Bonds | ||||
Educational Facilities Sweet Briar Institute | ||||
Series 2006 | ||||
09/01/2026 | 5.000% | 785,000 | 775,196 | |
Virginia College Building Authority | ||||
Refunding Revenue Bonds | ||||
University of Richmond Project | ||||
Series 2011A | ||||
03/01/2022 | 5.000% | 1,245,000 | 1,264,484 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Revenue Bonds | ||||
Washington & Lee University Project | ||||
Series 1998 (NPFGC) | ||||
01/01/2026 | 5.250% | 3,115,000 | 3,579,104 | |
Virginia Commonwealth University | ||||
Refunding Revenue Bonds | ||||
General Pledge | ||||
Series 2018-A | ||||
11/01/2031 | 5.000% | 400,000 | 506,024 | |
Series 2020A | ||||
11/01/2027 | 5.000% | 520,000 | 661,393 | |
Virginia Polytechnic Institute & State University | ||||
Revenue Bonds | ||||
General Dorm and Dining Hall | ||||
Series 2015A | ||||
06/01/2027 | 4.000% | 2,650,000 | 3,036,529 | |
Total | 9,822,730 | |||
Hospital 8.7% | ||||
Arlington County Industrial Development Authority | ||||
Refunding Revenue Bonds | ||||
Virginia Hospital Center | ||||
Series 2020 | ||||
07/01/2033 | 5.000% | 400,000 | 515,628 | |
Fairfax County Industrial Development Authority | ||||
Refunding Revenue Bonds | ||||
Inova Health System | ||||
Series 2018 | ||||
05/15/2026 | 5.000% | 1,500,000 | 1,852,410 | |
Norfolk Economic Development Authority | ||||
Refunding Revenue Bonds | ||||
Sentara Healthcare | ||||
Series 2012B | ||||
11/01/2027 | 5.000% | 1,735,000 | 1,871,354 | |
Series 2018A (Mandatory Put 11/01/28) | ||||
11/01/2048 | 5.000% | 300,000 | 383,202 | |
Roanoke Economic Development Authority | ||||
Refunding Revenue Bonds | ||||
Carilion Clinic Obligated Group | ||||
Series 2020 (Mandatory Put 07/01/30) | ||||
07/01/2053 | 5.000% | 2,500,000 | 3,249,775 | |
Stafford County Economic Development Authority | ||||
Refunding Revenue Bonds | ||||
Mary Washington Healthcare | ||||
Series 2016 | ||||
06/15/2030 | 5.000% | 1,300,000 | 1,530,217 | |
06/15/2033 | 5.000% | 200,000 | 232,600 | |
06/15/2035 | 5.000% | 1,000,000 | 1,157,710 |
6 | Columbia Virginia Intermediate Municipal Bond Fund | Semiannual Report 2020 |
October 31, 2020 (Unaudited)
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Virginia Small Business Financing Authority | ||||
Refunding Revenue Bonds | ||||
Sentara Healthcare | ||||
Series 2020 | ||||
11/01/2030 | 5.000% | 220,000 | 286,460 | |
11/01/2031 | 5.000% | 270,000 | 349,415 | |
Winchester Economic Development Authority | ||||
Refunding Revenue Bonds | ||||
Valley Health System Obligation Group | ||||
Series 2015 | ||||
01/01/2032 | 5.000% | 1,250,000 | 1,451,087 | |
Total | 12,879,858 | |||
Investor Owned 2.8% | ||||
Louisa Industrial Development Authority | ||||
Refunding Revenue Bonds | ||||
Pollution Control | ||||
Series 2019 (Mandatory Put 04/01/22) | ||||
11/01/2035 | 1.800% | 2,000,000 | 2,035,660 | |
Revenue Bonds | ||||
Virginia Electric and Power Co. Project | ||||
Series 2008B (Mandatory Put 09/02/25) | ||||
11/01/2035 | 0.750% | 1,000,000 | 998,740 | |
Wise County Industrial Development Authority | ||||
Revenue Bonds | ||||
Virginia Electric & Power Co. | ||||
Series 2015A (Mandatory Put 05/31/24) | ||||
11/01/2040 | 1.200% | 1,125,000 | 1,143,630 | |
Total | 4,178,030 | |||
Local Appropriation 5.0% | ||||
Appomattox County Economic Development Authority | ||||
Unrefunded Revenue Bonds | ||||
Series 2010 | ||||
05/01/2022 | 5.000% | 175,000 | 175,553 | |
Arlington County Industrial Development Authority | ||||
Refunding Revenue Bonds | ||||
Series 2017 | ||||
02/15/2029 | 5.000% | 1,000,000 | 1,276,210 | |
Chesterfield County Economic Development Authority | ||||
Revenue Bonds | ||||
Series 2020F | ||||
04/01/2030 | 5.000% | 2,000,000 | 2,700,660 | |
Fairfax County Economic Development Authority | ||||
Revenue Bonds | ||||
Metrorail Parking Systems | ||||
Series 2017 | ||||
04/01/2033 | 5.000% | 745,000 | 913,497 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Henry County Industrial Development Authority | ||||
Revenue Bonds | ||||
Public Facility Lease | ||||
Series 2018 | ||||
11/01/2036 | 4.000% | 1,000,000 | 1,146,900 | |
Loudoun County Economic Development Authority | ||||
Revenue Bonds | ||||
Series 2015 | ||||
12/01/2028 | 5.000% | 1,035,000 | 1,218,971 | |
Total | 7,431,791 | |||
Local General Obligation 6.9% | ||||
City of Alexandria Virginia | ||||
Unlimited General Obligation Refunding Bonds | ||||
Series 2017C | ||||
07/01/2030 | 4.000% | 1,000,000 | 1,201,740 | |
City of Norfolk | ||||
Unlimited General Obligation Bonds | ||||
Capital Improvement | ||||
08/01/2033 | 5.000% | 1,000,000 | 1,343,210 | |
Unlimited General Obligation Refunding Bonds | ||||
Series 2017C | ||||
09/01/2033 | 4.000% | 1,380,000 | 1,689,134 | |
City of Richmond | ||||
Unlimited General Obligation Bonds | ||||
Public Improvement | ||||
Series 2015B | ||||
03/01/2028 | 4.000% | 2,000,000 | 2,268,920 | |
County of Arlington | ||||
Unlimited General Obligation Bonds | ||||
Series 2017 | ||||
08/15/2034 | 4.000% | 2,000,000 | 2,348,940 | |
County of Fairfax | ||||
Unlimited General Obligation Public Improvement Bonds | ||||
Series 2019A | ||||
10/01/2035 | 5.000% | 1,000,000 | 1,298,320 | |
Total | 10,150,264 | |||
Multi-Family 2.3% | ||||
Farmville Industrial Development Authority | ||||
Refunding Revenue Bonds | ||||
Longwood University Student Project | ||||
Series 2018 | ||||
01/01/2038 | 5.000% | 1,000,000 | 1,059,700 | |
Virginia Housing Development Authority | ||||
Revenue Bonds | ||||
Series 2020B (HUD) | ||||
03/01/2031 | 1.650% | 1,630,000 | 1,620,937 | |
Series 2020E | ||||
07/01/2035 | 2.100% | 650,000 | 658,873 | |
Total | 3,339,510 |
Columbia Virginia Intermediate Municipal Bond Fund | Semiannual Report 2020 | 7 |
October 31, 2020 (Unaudited)
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Other Bond Issue 5.5% | ||||
Montgomery County Economic Development Authority | ||||
Refunding Revenue Bonds | ||||
Virginia Tech Foundation | ||||
Series 2017A | ||||
06/01/2029 | 5.000% | 200,000 | 252,368 | |
Series 2019 | ||||
06/01/2031 | 5.000% | 1,200,000 | 1,571,856 | |
Rappahannock Regional Jail Authority | ||||
Refunding Revenue Bonds | ||||
Series 2015 | ||||
10/01/2030 | 5.000% | 1,725,000 | 2,078,711 | |
Riverside Regional Jail Authority | ||||
Refunding Revenue Bonds | ||||
Series 2015 | ||||
07/01/2028 | 5.000% | 2,685,000 | 3,241,493 | |
Western Regional Jail Authority | ||||
Refunding Revenue Bonds | ||||
Series 2015 | ||||
12/01/2027 | 5.000% | 750,000 | 918,165 | |
Total | 8,062,593 | |||
Pool / Bond Bank 2.8% | ||||
Virginia Resources Authority | ||||
Refunding Revenue Bonds | ||||
Revolving Fund | ||||
Series 2011A | ||||
08/01/2024 | 5.000% | 1,395,000 | 1,442,751 | |
Virginia Infrastructure Pooled | ||||
Series 2017F | ||||
11/01/2034 | 4.000% | 1,000,000 | 1,172,600 | |
Virginia Pooled Financing Program | ||||
Series 2019C | ||||
11/01/2033 | 5.000% | 1,165,000 | 1,533,431 | |
Total | 4,148,782 | |||
Ports 1.4% | ||||
Virginia Port Authority Commonwealth Port Fund(c) | ||||
Refunding Revenue Bonds | ||||
Series 2020B | ||||
07/01/2028 | 5.000% | 1,615,000 | 2,070,947 | |
Refunded / Escrowed 12.1% | ||||
Chesapeake Bay Bridge & Tunnel District | ||||
Refunding Revenue Bonds | ||||
General Resolution | ||||
Series 1998 Escrowed to Maturity (NPFGC) | ||||
07/01/2025 | 5.500% | 4,000,000 | 4,760,920 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
City of Suffolk | ||||
Prerefunded 02/01/24 Unlimited General Obligation Bonds | ||||
Series 2014 | ||||
02/01/2029 | 4.000% | 2,000,000 | 2,239,420 | |
County of Smyth | ||||
Prerefunded 11/01/21 Unlimited General Obligation Bonds | ||||
Public Improvement | ||||
Series 2011A | ||||
11/01/2031 | 5.000% | 4,000,000 | 4,187,360 | |
Hampton Roads Sanitation District | ||||
Prerefunded 08/01/26 Subordinated Revenue Bonds | ||||
Series 2016A | ||||
08/01/2031 | 5.000% | 2,000,000 | 2,524,540 | |
Virginia Commonwealth Transportation Board | ||||
Prerefunded 05/15/22 Revenue Bonds | ||||
Capital Projects | ||||
Series 2012 | ||||
05/15/2029 | 5.000% | 3,000,000 | 3,218,430 | |
Western Regional Jail Authority | ||||
Prerefunded 12/01/25 Revenue Bonds | ||||
Series 2015 | ||||
12/01/2027 | 5.000% | 750,000 | 920,700 | |
Total | 17,851,370 | |||
Retirement Communities 6.4% | ||||
Albermarle County Economic Development Authority | ||||
Revenue Bonds | ||||
Westminster-Canterbury of the Blue Ridge | ||||
Series 2012 | ||||
01/01/2032 | 4.625% | 2,000,000 | 2,018,100 | |
Hanover County Economic Development Authority | ||||
Refunding Revenue Bonds | ||||
Covenant Woods | ||||
Series 2018 | ||||
07/01/2038 | 5.000% | 380,000 | 388,174 | |
Revenue Bonds | ||||
Covenant Woods | ||||
Series 2012A | ||||
07/01/2022 | 4.000% | 410,000 | 411,521 | |
Henrico County Economic Development Authority(d) | ||||
Refunding Revenue Bonds | ||||
Westminster Canterbury of Richmond | ||||
Series 2020 | ||||
10/01/2033 | 4.000% | 500,000 | 556,050 | |
Henrico County Economic Development Authority | ||||
Refunding Revenue Bonds | ||||
Westminster Canterbury Project | ||||
Series 2018 | ||||
10/01/2037 | 5.000% | 1,500,000 | 1,674,900 | |
Westminster-Canterbury Corp. | ||||
Series 2015 | ||||
10/01/2035 | 4.000% | 1,320,000 | 1,321,399 |
8 | Columbia Virginia Intermediate Municipal Bond Fund | Semiannual Report 2020 |
October 31, 2020 (Unaudited)
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Rockingham County Economic Development Authority | ||||
Refunding Revenue Bonds | ||||
Sunnyside Presbyterian Home | ||||
Series 2020 | ||||
12/01/2039 | 5.000% | 2,000,000 | 2,224,960 | |
Virginia Small Business Financing Authority | ||||
Refunding Revenue Bonds | ||||
National Senior Campuses | ||||
Series 2020 | ||||
01/01/2027 | 5.000% | 325,000 | 393,715 | |
01/01/2029 | 5.000% | 400,000 | 489,180 | |
Total | 9,477,999 | |||
Sales Tax 1.6% | ||||
Northern Virginia Transportation Authority | ||||
Revenue Bonds | ||||
Series 2014 | ||||
06/01/2032 | 5.000% | 2,000,000 | 2,312,680 | |
Special Non Property Tax 3.7% | ||||
Greater Richmond Convention Center Authority | ||||
Refunding Revenue Bonds | ||||
Series 2015 | ||||
06/15/2029 | 5.000% | 1,350,000 | 1,530,441 | |
06/15/2030 | 5.000% | 1,540,000 | 1,738,953 | |
Hampton Roads Transportation Accountability Commission | ||||
Revenue Bonds | ||||
Senior Lien | ||||
Series 2020A | ||||
07/01/2033 | 5.000% | 500,000 | 662,820 | |
Senior Lien Hampton Roads Transportation Fund | ||||
Series 2018A | ||||
07/01/2032 | 5.000% | 1,150,000 | 1,454,117 | |
Total | 5,386,331 | |||
Special Property Tax 3.7% | ||||
Dulles Town Center Community Development Authority | ||||
Refunding Special Assessment Bonds | ||||
Dulles Town Center Project | ||||
Series 2012 | ||||
03/01/2023 | 4.000% | 1,000,000 | 1,001,240 | |
Fairfax County Economic Development Authority | ||||
Refunding Special Tax Bonds | ||||
Silver Line Phase I Project | ||||
Series 2016 | ||||
04/01/2031 | 4.000% | 1,000,000 | 1,131,920 | |
04/01/2032 | 4.000% | 1,000,000 | 1,124,990 | |
Marquis Community Development Authority of York County(e),(f) | ||||
Revenue Bonds | ||||
Convertible | ||||
Series 2015 | ||||
09/01/2045 | 0.000% | 644,000 | 326,514 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Marquis Community Development Authority of York County | ||||
Tax Allocation Bonds | ||||
Series 2007B | ||||
09/01/2041 | 5.625% | 2,084,000 | 1,033,747 | |
Marquis Community Development Authority of York County(g) | ||||
Tax Allocation Bonds | ||||
Series 2007C | ||||
09/01/2041 | 0.000% | 3,164,000 | 148,771 | |
Virginia Gateway Community Development Authority | ||||
Refunding Special Assessment Bonds | ||||
Series 2012 | ||||
03/01/2025 | 5.000% | 690,000 | 696,038 | |
Total | 5,463,220 | |||
State Appropriated 4.6% | ||||
Virginia College Building Authority | ||||
Revenue Bonds | ||||
21st Century College Program | ||||
Series 2017 | ||||
02/01/2034 | 4.000% | 1,500,000 | 1,723,050 | |
Virginia Commonwealth Transportation Board | ||||
Refunding Revenue Bonds | ||||
Northern Virginia Transportation District Program | ||||
Series 2019 | ||||
05/15/2031 | 5.000% | 1,000,000 | 1,314,380 | |
Virginia Public Building Authority | ||||
Revenue Bonds | ||||
Series 2018A | ||||
08/01/2035 | 4.000% | 1,500,000 | 1,787,370 | |
Series 2019A | ||||
08/01/2031 | 5.000% | 1,500,000 | 1,984,545 | |
Total | 6,809,345 | |||
Transportation 9.6% | ||||
Virginia Commonwealth Transportation Board | ||||
Refunding Revenue Bonds | ||||
GARVEE Notes | ||||
Series 2017 | ||||
03/15/2028 | 5.000% | 1,000,000 | 1,281,980 | |
Revenue Bonds | ||||
Series 2016 | ||||
05/15/2030 | 4.000% | 500,000 | 577,180 | |
Series 2018 | ||||
05/15/2036 | 4.000% | 2,000,000 | 2,333,700 | |
Washington Metropolitan Area Transit Authority | ||||
Refunding Revenue Bonds | ||||
Series 2017A-1 | ||||
07/01/2029 | 5.000% | 2,500,000 | 3,131,375 | |
Revenue Bonds | ||||
Series 2017B | ||||
07/01/2034 | 5.000% | 2,000,000 | 2,443,540 |
Columbia Virginia Intermediate Municipal Bond Fund | Semiannual Report 2020 | 9 |
October 31, 2020 (Unaudited)
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Series 2018 | ||||
07/01/2036 | 5.000% | 500,000 | 605,810 | |
07/01/2037 | 5.000% | 1,000,000 | 1,206,850 | |
Series 2020A | ||||
07/15/2037 | 5.000% | 2,000,000 | 2,589,200 | |
Total | 14,169,635 | |||
Turnpike / Bridge / Toll Road 4.7% | ||||
City of Chesapeake Expressway Toll Road | ||||
Revenue Bonds | ||||
Transportation System | ||||
Series 2012A | ||||
07/15/2023 | 5.000% | 1,025,000 | 1,090,641 | |
07/15/2027 | 5.000% | 1,000,000 | 1,057,870 | |
Metropolitan Washington Airports Authority Dulles Toll Road(g) | ||||
Revenue Bonds | ||||
Capital Appreciation-2nd Senior Lien | ||||
Series 2009B (AGM) | ||||
10/01/2023 | 0.000% | 5,000,000 | 4,793,450 | |
Total | 6,941,961 | |||
Water & Sewer 1.7% | ||||
Fairfax County Water Authority | ||||
Refunding Revenue Bonds | ||||
Series 2017 | ||||
04/01/2029 | 5.000% | 2,000,000 | 2,540,800 | |
Total Municipal Bonds (Cost $135,431,150) | 141,556,267 |
Money Market Funds 3.3% | ||
Shares | Value ($) | |
Dreyfus AMT-Free Tax Exempt Cash Management Fund, Institutional Shares, 0.010%(h) | 108,427 | 108,416 |
JPMorgan Institutional Tax Free Money Market Fund, Institutional Shares, 0.012%(h) | 4,772,496 | 4,772,496 |
Total Money Market Funds (Cost $4,880,923) | 4,880,912 | |
Total Investments in Securities (Cost: $140,712,073) | 146,837,179 | |
Other Assets & Liabilities, Net | 626,791 | |
Net Assets | 147,463,970 |
(a) | The Fund is entitled to receive principal and interest from the guarantor after a day or a week’s notice or upon maturity. The maturity date disclosed represents the final maturity. |
(b) | Represents a variable rate security where the coupon rate adjusts on specified dates (generally daily or weekly) using the prevailing money market rate. The interest rate shown was the current rate as of October 31, 2020. |
(c) | Income from this security may be subject to alternative minimum tax. |
(d) | Represents a security purchased on a when-issued basis. |
(e) | Represents privately placed and other securities and instruments exempt from Securities and Exchange Commission registration (collectively, private placements), such as Section 4(a)(2) and Rule 144A eligible securities, which are often sold only to qualified institutional buyers. At October 31, 2020, the total value of these securities amounted to $326,514, which represents 0.22% of total net assets. |
(f) | Represents a variable rate security with a step coupon where the rate adjusts according to a schedule for a series of periods, typically lower for an initial period and then increasing to a higher coupon rate thereafter. The interest rate shown was the current rate as of October 31, 2020. |
(g) | Zero coupon bond. |
(h) | The rate shown is the seven-day current annualized yield at October 31, 2020. |
AGM | Assured Guaranty Municipal Corporation |
HUD | Department of Housing and Urban Development |
NPFGC | National Public Finance Guarantee Corporation |
10 | Columbia Virginia Intermediate Municipal Bond Fund | Semiannual Report 2020 |
October 31, 2020 (Unaudited)
■ | Level 1 — Valuations based on quoted prices for investments in active markets that the Fund has the ability to access at the measurement date. Valuation adjustments are not applied to Level 1 investments. |
■ | Level 2 — Valuations based on other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risks, etc.). |
■ | Level 3 — Valuations based on significant unobservable inputs (including the Fund’s own assumptions and judgment in determining the fair value of investments). |
Level 1 ($) | Level 2 ($) | Level 3 ($) | Total ($) | |
Investments in Securities | ||||
Floating Rate Notes | — | 400,000 | — | 400,000 |
Municipal Bonds | — | 141,556,267 | — | 141,556,267 |
Money Market Funds | 4,880,912 | — | — | 4,880,912 |
Total Investments in Securities | 4,880,912 | 141,956,267 | — | 146,837,179 |
Columbia Virginia Intermediate Municipal Bond Fund | Semiannual Report 2020 | 11 |
October 31, 2020 (Unaudited)
Assets | |
Investments in securities, at value | |
Unaffiliated issuers (cost $140,712,073) | $146,837,179 |
Cash | 2,199 |
Receivable for: | |
Capital shares sold | 98,325 |
Interest | 1,629,772 |
Expense reimbursement due from Investment Manager | 222 |
Prepaid expenses | 2,374 |
Other assets | 1,933 |
Total assets | 148,572,004 |
Liabilities | |
Payable for: | |
Investments purchased on a delayed delivery basis | 555,760 |
Capital shares purchased | 123,061 |
Distributions to shareholders | 283,441 |
Management services fees | 1,893 |
Distribution and/or service fees | 226 |
Transfer agent fees | 5,070 |
Compensation of board members | 116,219 |
Compensation of chief compliance officer | 15 |
Other expenses | 22,349 |
Total liabilities | 1,108,034 |
Net assets applicable to outstanding capital stock | $147,463,970 |
Represented by | |
Paid in capital | 141,317,298 |
Total distributable earnings (loss) | 6,146,672 |
Total - representing net assets applicable to outstanding capital stock | $147,463,970 |
Class A | |
Net assets | $25,150,358 |
Shares outstanding | 2,345,201 |
Net asset value per share | $10.72 |
Maximum sales charge | 3.00% |
Maximum offering price per share (calculated by dividing the net asset value per share by 1.0 minus the maximum sales charge for Class A shares) | $11.05 |
Advisor Class | |
Net assets | $1,628,876 |
Shares outstanding | 151,840 |
Net asset value per share | $10.73 |
Class C | |
Net assets | $1,968,306 |
Shares outstanding | 183,371 |
Net asset value per share | $10.73 |
Institutional Class | |
Net assets | $26,045,105 |
Shares outstanding | 2,429,126 |
Net asset value per share | $10.72 |
Institutional 3 Class | |
Net assets | $92,671,325 |
Shares outstanding | 8,621,863 |
Net asset value per share | $10.75 |
12 | Columbia Virginia Intermediate Municipal Bond Fund | Semiannual Report 2020 |
Six Months Ended October 31, 2020 (Unaudited)
Net investment income | |
Income: | |
Dividends — unaffiliated issuers | $2,140 |
Interest | 2,141,392 |
Total income | 2,143,532 |
Expenses: | |
Management services fees | 342,311 |
Distribution and/or service fees | |
Class A | 31,433 |
Class C | 9,544 |
Transfer agent fees | |
Class A | 11,626 |
Advisor Class | 487 |
Class C | 883 |
Institutional Class | 12,013 |
Institutional 3 Class | 3,462 |
Compensation of board members | 29,285 |
Custodian fees | 706 |
Printing and postage fees | 5,489 |
Registration fees | 6,086 |
Audit fees | 14,790 |
Legal fees | 5,277 |
Compensation of chief compliance officer | 15 |
Other | 4,835 |
Total expenses | 478,242 |
Fees waived or expenses reimbursed by Investment Manager and its affiliates | (70,417) |
Total net expenses | 407,825 |
Net investment income | 1,735,707 |
Realized and unrealized gain (loss) — net | |
Net realized gain (loss) on: | |
Investments — unaffiliated issuers | 38,710 |
Net realized gain | 38,710 |
Net change in unrealized appreciation (depreciation) on: | |
Investments — unaffiliated issuers | 3,917,762 |
Net change in unrealized appreciation (depreciation) | 3,917,762 |
Net realized and unrealized gain | 3,956,472 |
Net increase in net assets resulting from operations | $5,692,179 |
Columbia Virginia Intermediate Municipal Bond Fund | Semiannual Report 2020 | 13 |
Six Months Ended October 31, 2020 (Unaudited) | Year Ended April 30, 2020 | |
Operations | ||
Net investment income | $1,735,707 | $3,866,590 |
Net realized gain | 38,710 | 172,217 |
Net change in unrealized appreciation (depreciation) | 3,917,762 | (1,850,197) |
Net increase in net assets resulting from operations | 5,692,179 | 2,188,610 |
Distributions to shareholders | ||
Net investment income and net realized gains | ||
Class A | (270,711) | (604,645) |
Advisor Class | (12,571) | (14,886) |
Class C | (13,357) | (42,554) |
Institutional Class | (312,213) | (660,100) |
Institutional 3 Class | (1,139,414) | (2,564,324) |
Total distributions to shareholders | (1,748,266) | (3,886,509) |
Increase in net assets from capital stock activity | 4,491,394 | 2,841,294 |
Total increase in net assets | 8,435,307 | 1,143,395 |
Net assets at beginning of period | 139,028,663 | 137,885,268 |
Net assets at end of period | $147,463,970 | $139,028,663 |
14 | Columbia Virginia Intermediate Municipal Bond Fund | Semiannual Report 2020 |
Six Months Ended | Year Ended | |||
October 31, 2020 (Unaudited) | April 30, 2020 | |||
Shares | Dollars ($) | Shares | Dollars ($) | |
Capital stock activity | ||||
Class A | ||||
Subscriptions | 170,036 | 1,813,289 | 339,312 | 3,629,435 |
Distributions reinvested | 14,552 | 156,442 | 30,965 | 331,285 |
Redemptions | (144,482) | (1,552,331) | (313,177) | (3,337,602) |
Net increase | 40,106 | 417,400 | 57,100 | 623,118 |
Advisor Class | ||||
Subscriptions | 119,669 | 1,285,537 | 57,672 | 622,442 |
Distributions reinvested | 1,157 | 12,453 | 1,365 | 14,619 |
Redemptions | (32,819) | (346,241) | (21,158) | (223,181) |
Net increase | 88,007 | 951,749 | 37,879 | 413,880 |
Class C | ||||
Subscriptions | 29,664 | 319,683 | 31,779 | 341,570 |
Distributions reinvested | 1,148 | 12,353 | 3,512 | 37,612 |
Redemptions | (36,820) | (395,950) | (109,857) | (1,169,786) |
Net decrease | (6,008) | (63,914) | (74,566) | (790,604) |
Institutional Class | ||||
Subscriptions | 174,392 | 1,862,053 | 542,873 | 5,783,235 |
Distributions reinvested | 20,050 | 215,501 | 46,011 | 492,237 |
Redemptions | (119,866) | (1,286,780) | (387,225) | (4,122,582) |
Net increase | 74,576 | 790,774 | 201,659 | 2,152,890 |
Institutional 3 Class | ||||
Subscriptions | 633,160 | 6,837,374 | 1,330,228 | 14,289,173 |
Distributions reinvested | 3,345 | 36,046 | 6,808 | 73,014 |
Redemptions | (416,359) | (4,478,035) | (1,301,241) | (13,920,177) |
Net increase | 220,146 | 2,395,385 | 35,795 | 442,010 |
Total net increase | 416,827 | 4,491,394 | 257,867 | 2,841,294 |
Columbia Virginia Intermediate Municipal Bond Fund | Semiannual Report 2020 | 15 |
Net asset value, beginning of period | Net investment income | Net realized and unrealized gain (loss) | Total from investment operations | Distributions from net investment income | Distributions from net realized gains | Total distributions to shareholders | |
Class A | |||||||
Six Months Ended 10/31/2020 (Unaudited) | $10.43 | 0.11 | 0.30 | 0.41 | (0.12) | — | (0.12) |
Year Ended 4/30/2020 | $10.55 | 0.26 | (0.11) | 0.15 | (0.27) | (0.00)(d) | (0.27) |
Year Ended 4/30/2019 | $10.44 | 0.27 | 0.21 | 0.48 | (0.29) | (0.08) | (0.37) |
Year Ended 4/30/2018 | $10.79 | 0.27 | (0.31) | (0.04) | (0.28) | (0.03) | (0.31) |
Year Ended 4/30/2017 | $11.18 | 0.28 | (0.34) | (0.06) | (0.30) | (0.03) | (0.33) |
Year Ended 4/30/2016 | $11.13 | 0.30 | 0.10 | 0.40 | (0.32) | (0.03) | (0.35) |
Advisor Class | |||||||
Six Months Ended 10/31/2020 (Unaudited) | $10.43 | 0.13 | 0.30 | 0.43 | (0.13) | — | (0.13) |
Year Ended 4/30/2020 | $10.55 | 0.29 | (0.12) | 0.17 | (0.29) | (0.00)(d) | (0.29) |
Year Ended 4/30/2019 | $10.44 | 0.30 | 0.20 | 0.50 | (0.31) | (0.08) | (0.39) |
Year Ended 4/30/2018 | $10.79 | 0.30 | (0.31) | (0.01) | (0.31) | (0.03) | (0.34) |
Year Ended 4/30/2017 | $11.18 | 0.31 | (0.34) | (0.03) | (0.33) | (0.03) | (0.36) |
Year Ended 4/30/2016 | $11.12 | 0.33 | 0.11 | 0.44 | (0.35) | (0.03) | (0.38) |
Class C | |||||||
Six Months Ended 10/31/2020 (Unaudited) | $10.44 | 0.07 | 0.30 | 0.37 | (0.08) | — | (0.08) |
Year Ended 4/30/2020 | $10.55 | 0.18 | (0.10) | 0.08 | (0.19) | (0.00)(d) | (0.19) |
Year Ended 4/30/2019 | $10.45 | 0.20 | 0.19 | 0.39 | (0.21) | (0.08) | (0.29) |
Year Ended 4/30/2018 | $10.80 | 0.19 | (0.31) | (0.12) | (0.20) | (0.03) | (0.23) |
Year Ended 4/30/2017 | $11.19 | 0.20 | (0.34) | (0.14) | (0.22) | (0.03) | (0.25) |
Year Ended 4/30/2016 | $11.13 | 0.22 | 0.10 | 0.32 | (0.23) | (0.03) | (0.26) |
Institutional Class | |||||||
Six Months Ended 10/31/2020 (Unaudited) | $10.43 | 0.13 | 0.29 | 0.42 | (0.13) | — | (0.13) |
Year Ended 4/30/2020 | $10.54 | 0.29 | (0.11) | 0.18 | (0.29) | (0.00)(d) | (0.29) |
Year Ended 4/30/2019 | $10.44 | 0.30 | 0.20 | 0.50 | (0.32) | (0.08) | (0.40) |
Year Ended 4/30/2018 | $10.79 | 0.30 | (0.31) | (0.01) | (0.31) | (0.03) | (0.34) |
Year Ended 4/30/2017 | $11.18 | 0.31 | (0.34) | (0.03) | (0.33) | (0.03) | (0.36) |
Year Ended 4/30/2016 | $11.13 | 0.33 | 0.10 | 0.43 | (0.35) | (0.03) | (0.38) |
16 | Columbia Virginia Intermediate Municipal Bond Fund | Semiannual Report 2020 |
Net asset value, end of period | Total return | Total gross expense ratio to average net assets(a) | Total net expense ratio to average net assets(a),(b) | Net investment income ratio to average net assets | Portfolio turnover | Net assets, end of period (000’s) | |
Class A | |||||||
Six Months Ended 10/31/2020 (Unaudited) | $10.72 | 3.89% | 0.90%(c) | 0.80%(c) | 2.13%(c) | 10% | $25,150 |
Year Ended 4/30/2020 | $10.43 | 1.35% | 0.87% | 0.81% | 2.47% | 12% | $24,036 |
Year Ended 4/30/2019 | $10.55 | 4.69% | 0.88% | 0.81%(e) | 2.63% | 13% | $23,706 |
Year Ended 4/30/2018 | $10.44 | (0.39%) | 0.89% | 0.81%(e) | 2.55% | 14% | $27,005 |
Year Ended 4/30/2017 | $10.79 | (0.51%) | 0.95% | 0.81% | 2.56% | 7% | $28,168 |
Year Ended 4/30/2016 | $11.18 | 3.65% | 0.96% | 0.81%(e) | 2.72% | 12% | $42,046 |
Advisor Class | |||||||
Six Months Ended 10/31/2020 (Unaudited) | $10.73 | 4.12% | 0.65%(c) | 0.56%(c) | 2.37%(c) | 10% | $1,629 |
Year Ended 4/30/2020 | $10.43 | 1.60% | 0.61% | 0.55% | 2.70% | 12% | $666 |
Year Ended 4/30/2019 | $10.55 | 4.95% | 0.63% | 0.56%(e) | 2.87% | 13% | $274 |
Year Ended 4/30/2018 | $10.44 | (0.14%) | 0.63% | 0.56%(e) | 2.80% | 14% | $1,823 |
Year Ended 4/30/2017 | $10.79 | (0.26%) | 0.70% | 0.56% | 2.81% | 7% | $812 |
Year Ended 4/30/2016 | $11.18 | 4.00% | 0.72% | 0.56%(e) | 2.97% | 12% | $506 |
Class C | |||||||
Six Months Ended 10/31/2020 (Unaudited) | $10.73 | 3.50% | 1.65%(c) | 1.55%(c) | 1.38%(c) | 10% | $1,968 |
Year Ended 4/30/2020 | $10.44 | 0.69% | 1.62% | 1.56% | 1.73% | 12% | $1,976 |
Year Ended 4/30/2019 | $10.55 | 3.81% | 1.63% | 1.56%(e) | 1.88% | 13% | $2,786 |
Year Ended 4/30/2018 | $10.45 | (1.13%) | 1.64% | 1.56%(e) | 1.79% | 14% | $3,824 |
Year Ended 4/30/2017 | $10.80 | (1.25%) | 1.70% | 1.56% | 1.82% | 7% | $4,938 |
Year Ended 4/30/2016 | $11.19 | 2.97% | 1.72% | 1.56%(e) | 1.97% | 12% | $5,141 |
Institutional Class | |||||||
Six Months Ended 10/31/2020 (Unaudited) | $10.72 | 4.02% | 0.65%(c) | 0.56%(c) | 2.38%(c) | 10% | $26,045 |
Year Ended 4/30/2020 | $10.43 | 1.70% | 0.62% | 0.55% | 2.72% | 12% | $24,546 |
Year Ended 4/30/2019 | $10.54 | 4.86% | 0.63% | 0.56%(e) | 2.88% | 13% | $22,698 |
Year Ended 4/30/2018 | $10.44 | (0.15%) | 0.65% | 0.56%(e) | 2.76% | 14% | $29,199 |
Year Ended 4/30/2017 | $10.79 | (0.26%) | 0.70% | 0.56% | 2.82% | 7% | $161,853 |
Year Ended 4/30/2016 | $11.18 | 3.91% | 0.71% | 0.56%(e) | 2.97% | 12% | $173,677 |
Columbia Virginia Intermediate Municipal Bond Fund | Semiannual Report 2020 | 17 |
Net asset value, beginning of period | Net investment income | Net realized and unrealized gain (loss) | Total from investment operations | Distributions from net investment income | Distributions from net realized gains | Total distributions to shareholders | |
Institutional 3 Class | |||||||
Six Months Ended 10/31/2020 (Unaudited) | $10.45 | 0.13 | 0.30 | 0.43 | (0.13) | — | (0.13) |
Year Ended 4/30/2020 | $10.57 | 0.30 | (0.12) | 0.18 | (0.30) | (0.00)(d) | (0.30) |
Year Ended 4/30/2019 | $10.46 | 0.31 | 0.21 | 0.52 | (0.33) | (0.08) | (0.41) |
Year Ended 4/30/2018 | $10.82 | 0.31 | (0.32) | (0.01) | (0.32) | (0.03) | (0.35) |
Year Ended 4/30/2017(f) | $10.75 | 0.05 | 0.08(g) | 0.13 | (0.06) | — | (0.06) |
Notes to Financial Highlights | |
(a) | In addition to the fees and expenses that the Fund bears directly, the Fund indirectly bears a pro rata share of the fees and expenses of any other funds in which it invests. Such indirect expenses are not included in the Fund’s reported expense ratios. |
(b) | Total net expenses include the impact of certain fee waivers/expense reimbursements made by the Investment Manager and certain of its affiliates, if applicable. |
(c) | Annualized. |
(d) | Rounds to zero. |
(e) | The benefits derived from expense reductions had an impact of less than 0.01%. |
(f) | Institutional 3 Class shares commenced operations on March 1, 2017. Per share data and total return reflect activity from that date. |
(g) | Calculation of the net gain (loss) per share (both realized and unrealized) does not correlate to the aggregate realized and unrealized gain (loss) presented in the Statement of Operations due to the timing of subscriptions and redemptions of Fund shares in relation to fluctuations in the market value of the portfolio. |
18 | Columbia Virginia Intermediate Municipal Bond Fund | Semiannual Report 2020 |
Net asset value, end of period | Total return | Total gross expense ratio to average net assets(a) | Total net expense ratio to average net assets(a),(b) | Net investment income ratio to average net assets | Portfolio turnover | Net assets, end of period (000’s) | |
Institutional 3 Class | |||||||
Six Months Ended 10/31/2020 (Unaudited) | $10.75 | 4.16% | 0.57%(c) | 0.47%(c) | 2.46%(c) | 10% | $92,671 |
Year Ended 4/30/2020 | $10.45 | 1.69% | 0.53% | 0.47% | 2.81% | 12% | $87,804 |
Year Ended 4/30/2019 | $10.57 | 5.04% | 0.54% | 0.47% | 2.97% | 13% | $88,421 |
Year Ended 4/30/2018 | $10.46 | (0.13%) | 0.54% | 0.48% | 2.91% | 14% | $102,071 |
Year Ended 4/30/2017(f) | $10.82 | 1.17% | 0.55%(c) | 0.42%(c) | 3.04%(c) | 7% | $10 |
Columbia Virginia Intermediate Municipal Bond Fund | Semiannual Report 2020 | 19 |
October 31, 2020 (Unaudited)
20 | Columbia Virginia Intermediate Municipal Bond Fund | Semiannual Report 2020 |
October 31, 2020 (Unaudited)
Columbia Virginia Intermediate Municipal Bond Fund | Semiannual Report 2020 | 21 |
October 31, 2020 (Unaudited)
22 | Columbia Virginia Intermediate Municipal Bond Fund | Semiannual Report 2020 |
October 31, 2020 (Unaudited)
Effective rate (%) | |
Class A | 0.09 |
Advisor Class | 0.09 |
Class C | 0.09 |
Institutional Class | 0.09 |
Institutional 3 Class | 0.01 |
Front End (%) | CDSC (%) | Amount ($) | |
Class A | 3.00 | 0.75(a) | 5,495 |
Class C | — | 1.00(b) | 496 |
(a) | This charge is imposed on certain investments of $500,000 or more if redeemed within 12 months after purchase. |
(b) | This charge applies to redemptions within 12 months after purchase, with certain limited exceptions. |
Columbia Virginia Intermediate Municipal Bond Fund | Semiannual Report 2020 | 23 |
October 31, 2020 (Unaudited)
September 1, 2020 through August 31, 2021 | Prior to September 1, 2020 | |
Class A | 0.81% | 0.81% |
Advisor Class | 0.56 | 0.56 |
Class C | 1.56 | 1.56 |
Institutional Class | 0.56 | 0.56 |
Institutional 3 Class | 0.48 | 0.47 |
Federal tax cost ($) | Gross unrealized appreciation ($) | Gross unrealized (depreciation) ($) | Net unrealized appreciation ($) |
140,712,000 | 8,723,000 | (2,598,000) | 6,125,000 |
24 | Columbia Virginia Intermediate Municipal Bond Fund | Semiannual Report 2020 |
October 31, 2020 (Unaudited)
Columbia Virginia Intermediate Municipal Bond Fund | Semiannual Report 2020 | 25 |
October 31, 2020 (Unaudited)
26 | Columbia Virginia Intermediate Municipal Bond Fund | Semiannual Report 2020 |
October 31, 2020 (Unaudited)
Columbia Virginia Intermediate Municipal Bond Fund | Semiannual Report 2020 | 27 |
October 31, 2020 (Unaudited)
28 | Columbia Virginia Intermediate Municipal Bond Fund | Semiannual Report 2020 |
Columbia Virginia Intermediate Municipal Bond Fund | Semiannual Report 2020 | 29 |
The Board also discussed the acceptability of the terms of the Management Agreement (including the relatively broad scope of services required to be performed by Columbia Threadneedle), noting that no material changes are proposed from the form of agreement previously approved. They also noted the wide array of legal and compliance services provided to the Funds under the Management Agreement. It was observed that the services being performed under the Management Agreement were of a reasonable quality.
30 | Columbia Virginia Intermediate Municipal Bond Fund | Semiannual Report 2020 |
Economies of scale to be realized
Columbia Virginia Intermediate Municipal Bond Fund | Semiannual Report 2020 | 31 |
columbiathreadneedleus.com/investor/. The Fund is distributed by Columbia Management Investment Distributors, Inc., member FINRA, and managed by Columbia Management Investment Advisers, LLC.
October 31, 2020
(Unaudited)
Average annual total returns (%) (for the period ended October 31, 2020) | ||||||
Inception | 6 Months cumulative | 1 Year | 5 Years | 10 Years | ||
Class A | Excluding sales charges | 09/01/90 | 3.32 | 1.75 | 2.36 | 2.61 |
Including sales charges | 0.22 | -1.32 | 1.75 | 2.30 | ||
Advisor Class* | 03/19/13 | 3.45 | 2.10 | 2.66 | 2.81 | |
Class C | Excluding sales charges | 06/17/92 | 2.93 | 1.08 | 1.62 | 1.84 |
Including sales charges | 1.93 | 0.09 | 1.62 | 1.84 | ||
Institutional Class | 09/01/90 | 3.45 | 2.00 | 2.62 | 2.86 | |
Institutional 3 Class* | 03/01/17 | 3.49 | 2.19 | 2.64 | 2.75 | |
Bloomberg Barclays 3-15 Year Blend Municipal Bond Index | 4.67 | 3.84 | 3.41 | 3.66 |
* | The returns shown for periods prior to the share class inception date (including returns for the Life of the Fund, if shown, which are since Fund inception) include the returns of the Fund’s oldest share class. These returns are adjusted to reflect any higher class-related operating expenses of the newer share classes, as applicable. Please visit columbiathreadneedleus.com/investor/investment-products /mutual-funds/appended-performance for more information. |
Columbia Maryland Intermediate Municipal Bond Fund | Semiannual Report 2020 | 3 |
(Unaudited)
Quality breakdown (%) (at October 31, 2020) | |
AAA rating | 12.3 |
AA rating | 39.4 |
A rating | 30.5 |
BBB rating | 12.3 |
BB rating | 0.7 |
Not rated | 4.8 |
Total | 100.0 |
4 | Columbia Maryland Intermediate Municipal Bond Fund | Semiannual Report 2020 |
(Unaudited)
May 1, 2020 — October 31, 2020 | |||||||
Account value at the beginning of the period ($) | Account value at the end of the period ($) | Expenses paid during the period ($) | Fund’s annualized expense ratio (%) | ||||
Actual | Hypothetical | Actual | Hypothetical | Actual | Hypothetical | Actual | |
Class A | 1,000.00 | 1,000.00 | 1,033.20 | 1,021.01 | 4.13 | 4.10 | 0.81 |
Advisor Class | 1,000.00 | 1,000.00 | 1,034.50 | 1,022.26 | 2.86 | 2.84 | 0.56 |
Class C | 1,000.00 | 1,000.00 | 1,029.30 | 1,017.25 | 7.94 | 7.89 | 1.56 |
Institutional Class | 1,000.00 | 1,000.00 | 1,034.50 | 1,022.26 | 2.86 | 2.84 | 0.56 |
Institutional 3 Class | 1,000.00 | 1,000.00 | 1,034.90 | 1,022.71 | 2.40 | 2.38 | 0.47 |
Columbia Maryland Intermediate Municipal Bond Fund | Semiannual Report 2020 | 5 |
October 31, 2020 (Unaudited)
Municipal Bonds 98.5% | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Higher Education 3.7% | ||||
Maryland Health & Higher Educational Facilities Authority | ||||
Revenue Bonds | ||||
Maryland Institute College of Art | ||||
Series 2012 | ||||
06/01/2029 | 5.000% | 1,000,000 | 1,047,910 | |
Montgomery County Authority | ||||
Refunding Revenue Bonds | ||||
Series 2014 | ||||
05/01/2027 | 5.000% | 500,000 | 571,610 | |
Morgan State University | ||||
Refunding Revenue Bonds | ||||
Series 2012 | ||||
07/01/2030 | 5.000% | 150,000 | 160,653 | |
Total | 1,780,173 | |||
Hospital 13.3% | ||||
Maryland Health & Higher Educational Facilities Authority | ||||
Refunding Revenue Bonds | ||||
Anne Arundel Health System | ||||
Series 2014 | ||||
07/01/2029 | 5.000% | 750,000 | 844,800 | |
Frederick Health System | ||||
Series 2020 | ||||
07/01/2040 | 4.000% | 200,000 | 222,932 | |
MedStar Health, Inc. | ||||
Series 2015 | ||||
08/15/2033 | 5.000% | 500,000 | 572,890 | |
Mercy Medical Center | ||||
Series 2016A | ||||
07/01/2032 | 5.000% | 600,000 | 682,674 | |
Meritus Medical Center Issue | ||||
Series 2015 | ||||
07/01/2027 | 5.000% | 1,000,000 | 1,162,270 | |
Peninsula Regional Medical Center | ||||
Series 2015 | ||||
07/01/2034 | 5.000% | 1,000,000 | 1,107,620 | |
Series 2017B | ||||
07/01/2031 | 5.000% | 1,000,000 | 1,226,320 | |
University of Maryland Medical System | ||||
Series 2015 | ||||
07/01/2028 | 5.000% | 500,000 | 591,085 | |
Total | 6,410,591 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Local Appropriation 4.5% | ||||
County of Prince George’s | ||||
Certificate of Participation | ||||
Suitland Public Infrastructure | ||||
Series 2019 | ||||
10/01/2035 | 5.000% | 500,000 | 628,300 | |
University of Maryland Capital Region Health | ||||
Series 2018 | ||||
10/01/2035 | 5.000% | 750,000 | 949,470 | |
Howard County Housing Commission | ||||
Revenue Bonds | ||||
Roger Carter Recreation Center Project | ||||
Series 2011 | ||||
06/01/2026 | 5.000% | 585,000 | 600,169 | |
Total | 2,177,939 | |||
Local General Obligation 9.2% | ||||
City of Baltimore | ||||
Unlimited General Obligation Bonds | ||||
Series 2017A | ||||
10/15/2033 | 5.000% | 750,000 | 935,205 | |
County of Anne Arundel | ||||
Limited General Obligation Bonds | ||||
Consolidated General Improvements | ||||
Series 2019 | ||||
10/01/2036 | 5.000% | 500,000 | 651,385 | |
Consolidated Water and Sewer | ||||
Series 2020 | ||||
10/01/2037 | 5.000% | 500,000 | 648,705 | |
County of Baltimore | ||||
Unlimited General Obligation Bonds | ||||
Consolidated Public Improvement Bonds | ||||
Series 2020 | ||||
03/01/2034 | 4.000% | 500,000 | 614,810 | |
County of Frederick | ||||
Unlimited General Obligation Refunding Bonds | ||||
Public Facilities | ||||
Series 2006 | ||||
11/01/2021 | 5.250% | 1,500,000 | 1,574,910 | |
Total | 4,425,015 | |||
Multi-Family 11.4% | ||||
Howard County Housing Commission | ||||
Revenue Bonds | ||||
General Capital Improvement Program | ||||
Series 2015 | ||||
06/01/2032 | 4.000% | 750,000 | 811,005 |
6 | Columbia Maryland Intermediate Municipal Bond Fund | Semiannual Report 2020 |
October 31, 2020 (Unaudited)
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Woodfield Oxford Square Apartments | ||||
Series 2017 | ||||
12/01/2029 | 5.000% | 555,000 | 674,186 | |
Maryland Economic Development Corp. | ||||
Refunding Revenue Bonds | ||||
University of Maryland Baltimore County Student Housing | ||||
Series 2016 (AGM) | ||||
07/01/2030 | 5.000% | 725,000 | 846,960 | |
University of Maryland College Park Student Housing | ||||
Series 2016 (AGM) | ||||
06/01/2030 | 5.000% | 875,000 | 1,020,477 | |
Revenue Bonds | ||||
Bowie State University Project | ||||
Series 2020 | ||||
07/01/2040 | 4.000% | 250,000 | 251,133 | |
Salisbury University Project | ||||
Series 2012 | ||||
06/01/2027 | 5.000% | 1,100,000 | 1,143,626 | |
Towson University Project | ||||
Series 2012 | ||||
07/01/2027 | 5.000% | 700,000 | 717,682 | |
Total | 5,465,069 | |||
Other Bond Issue 0.7% | ||||
Maryland Community Development Administration | ||||
Revenue Bonds | ||||
Capital Fund Securitization | ||||
Series 2003 (AGM) | ||||
07/01/2021 | 4.400% | 5,000 | 5,016 | |
Maryland Economic Development Corp. | ||||
Revenue Bonds | ||||
Baltimore City Project | ||||
Subordinated Series 2018C | ||||
06/01/2038 | 4.000% | 350,000 | 317,772 | |
Total | 322,788 | |||
Refunded / Escrowed 15.9% | ||||
City of Baltimore | ||||
Revenue Bonds | ||||
Water Project | ||||
Series 1994A Escrowed to Maturity (FGIC) | ||||
07/01/2024 | 5.000% | 1,400,000 | 1,541,092 | |
County of Frederick | ||||
Prerefunded 11/30/20 Special Tax Bonds | ||||
Urbana Community Development Authority | ||||
Series 2010A | ||||
07/01/2025 | 5.000% | 510,000 | 514,396 | |
Maryland Health & Higher Educational Facilities Authority | ||||
Prerefunded 05/15/23 Revenue Bonds | ||||
Johns Hopkins Health System | ||||
Series 2013C | ||||
05/15/2033 | 5.000% | 1,500,000 | 1,676,985 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Prerefunded 07/01/22 Revenue Bonds | ||||
Carroll Hospital | ||||
Series 2012A | ||||
07/01/2027 | 5.000% | 1,000,000 | 1,075,210 | |
Prerefunded 07/01/24 Revenue Bonds | ||||
Western Maryland Health System | ||||
Series 2014 | ||||
07/01/2034 | 5.250% | 1,500,000 | 1,761,135 | |
State of Maryland | ||||
Prerefunded 03/01/23 Unlimited General Obligation Bonds | ||||
Series 2015A | ||||
03/01/2027 | 4.000% | 1,000,000 | 1,086,490 | |
Total | 7,655,308 | |||
Retirement Communities 4.1% | ||||
County of Baltimore | ||||
Refunding Revenue Bonds | ||||
Oak Crest Village, Inc. Facilities | ||||
Series 2016 | ||||
01/01/2029 | 5.000% | 500,000 | 566,895 | |
Series 2020 | ||||
01/01/2038 | 4.000% | 330,000 | 356,803 | |
Riverwood Village, Inc. Project | ||||
Series 2020 | ||||
01/01/2036 | 4.000% | 500,000 | 548,165 | |
County of Howard | ||||
Refunding Revenue Bonds | ||||
Columbia Vantage House Corp. | ||||
Series 2017 | ||||
04/01/2026 | 5.000% | 500,000 | 513,750 | |
Total | 1,985,613 | |||
Single Family 1.3% | ||||
Maryland Community Development Administration | ||||
Revenue Bonds | ||||
Series 2019C | ||||
03/01/2031 | 5.000% | 500,000 | 629,425 | |
Special Non Property Tax 5.2% | ||||
Maryland Stadium Authority | ||||
Revenue Bonds | ||||
Construction and Revitalization | ||||
Series 2018 | ||||
05/01/2033 | 5.000% | 1,000,000 | 1,229,250 | |
State of Maryland Department of Transportation | ||||
Revenue Bonds | ||||
Series 2019 | ||||
10/01/2032 | 4.000% | 500,000 | 589,110 | |
Series 2020 | ||||
10/01/2033 | 5.000% | 500,000 | 669,140 | |
Total | 2,487,500 |
Columbia Maryland Intermediate Municipal Bond Fund | Semiannual Report 2020 | 7 |
October 31, 2020 (Unaudited)
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Special Property Tax 5.4% | ||||
Anne Arundel County Consolidated District | ||||
Special Tax Refunding Bonds | ||||
Villages of Dorchester & Farmington | ||||
Series 2013 | ||||
07/01/2023 | 5.000% | 225,000 | 251,777 | |
07/01/2024 | 5.000% | 500,000 | 559,255 | |
City of Baltimore | ||||
Refunding Tax Allocation Bonds | ||||
Consolidated Tax Projects | ||||
Series 2015 | ||||
06/15/2027 | 5.000% | 520,000 | 585,057 | |
County of Frederick(a) | ||||
Refunding Special Tax Bonds | ||||
Senior Series 2020A | ||||
07/01/2030 | 5.000% | 500,000 | 650,440 | |
County of Montgomery | ||||
Refunding Special Tax Bonds | ||||
West Germantown Development District | ||||
Series 2014 | ||||
07/01/2025 | 4.000% | 485,000 | 543,758 | |
Total | 2,590,287 | |||
State Appropriated 5.7% | ||||
Maryland Economic Development Corp. | ||||
Refunding Revenue Bonds | ||||
Department of Transportation Headquarters | ||||
Series 2010 | ||||
06/01/2022 | 4.500% | 2,000,000 | 2,134,420 | |
Maryland Stadium Authority | ||||
Revenue Bonds | ||||
Series 2019C | ||||
12/15/2037 | 4.000% | 500,000 | 586,970 | |
Total | 2,721,390 | |||
State General Obligation 3.9% | ||||
State of Maryland | ||||
Unlimited General Obligation Bonds | ||||
Series 2017A | ||||
08/01/2030 | 4.000% | 500,000 | 598,235 | |
State & Local Facilities Loan | ||||
Series 2018 | ||||
08/01/2028 | 5.000% | 500,000 | 659,980 | |
Series 2020A | ||||
03/15/2035 | 4.000% | 500,000 | 613,660 | |
Total | 1,871,875 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Transportation 5.2% | ||||
Washington Metropolitan Area Transit Authority | ||||
Refunding Revenue Bonds | ||||
Series 2017A-1 | ||||
07/01/2029 | 5.000% | 1,000,000 | 1,252,550 | |
Revenue Bonds | ||||
Series 2018 | ||||
07/01/2036 | 5.000% | 500,000 | 605,810 | |
Series 2020A | ||||
07/15/2038 | 5.000% | 500,000 | 645,075 | |
Total | 2,503,435 | |||
Turnpike / Bridge / Toll Road 1.4% | ||||
Maryland State Transportation Authority | ||||
Revenue Bonds | ||||
Transportation FACS Projects | ||||
Series 2020 | ||||
07/01/2038 | 5.000% | 500,000 | 651,355 | |
Water & Sewer 7.6% | ||||
City of Baltimore | ||||
Refunding Revenue Bonds | ||||
Water Projects | ||||
Subordinated Series 2019C | ||||
07/01/2035 | 4.000% | 500,000 | 584,000 | |
Subordinated Revenue Bonds | ||||
Series 2014A | ||||
07/01/2032 | 5.000% | 1,000,000 | 1,150,560 | |
Wastewater Project | ||||
Series 2017A | ||||
07/01/2031 | 5.000% | 1,000,000 | 1,219,300 | |
Washington Suburban Sanitary Commission | ||||
Revenue Bonds | ||||
Series 2020 | ||||
12/01/2030 | 5.000% | 500,000 | 690,205 | |
Total | 3,644,065 | |||
Total Municipal Bonds (Cost $44,901,458) | 47,321,828 |
8 | Columbia Maryland Intermediate Municipal Bond Fund | Semiannual Report 2020 |
October 31, 2020 (Unaudited)
Money Market Funds 2.0% | ||
Shares | Value ($) | |
Dreyfus AMT-Free Tax Exempt Cash Management Fund, Institutional Shares, 0.010%(b) | 54,952 | 54,946 |
JPMorgan Institutional Tax Free Money Market Fund, Institutional Shares, 0.012%(b) | 922,222 | 922,222 |
Total Money Market Funds (Cost $977,174) | 977,168 | |
Total Investments in Securities (Cost: $45,878,632) | 48,298,996 | |
Other Assets & Liabilities, Net | (258,360) | |
Net Assets | 48,040,636 |
(a) | Represents a security purchased on a when-issued basis. |
(b) | The rate shown is the seven-day current annualized yield at October 31, 2020. |
AGM | Assured Guaranty Municipal Corporation |
FGIC | Financial Guaranty Insurance Corporation |
■ | Level 1 — Valuations based on quoted prices for investments in active markets that the Fund has the ability to access at the measurement date. Valuation adjustments are not applied to Level 1 investments. |
■ | Level 2 — Valuations based on other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risks, etc.). |
■ | Level 3 — Valuations based on significant unobservable inputs (including the Fund’s own assumptions and judgment in determining the fair value of investments). |
Columbia Maryland Intermediate Municipal Bond Fund | Semiannual Report 2020 | 9 |
October 31, 2020 (Unaudited)
The following table is a summary of the inputs used to value the Fund’s investments at October 31, 2020:
Level 1 ($) | Level 2 ($) | Level 3 ($) | Total ($) | |
Investments in Securities | ||||
Municipal Bonds | — | 47,321,828 | — | 47,321,828 |
Money Market Funds | 977,168 | — | — | 977,168 |
Total Investments in Securities | 977,168 | 47,321,828 | — | 48,298,996 |
10 | Columbia Maryland Intermediate Municipal Bond Fund | Semiannual Report 2020 |
October 31, 2020 (Unaudited)
Assets | |
Investments in securities, at value | |
Unaffiliated issuers (cost $45,878,632) | $48,298,996 |
Cash | 804 |
Receivable for: | |
Capital shares sold | 36,575 |
Interest | 628,013 |
Expense reimbursement due from Investment Manager | 232 |
Prepaid expenses | 2,072 |
Other assets | 3,991 |
Total assets | 48,970,683 |
Liabilities | |
Payable for: | |
Investments purchased on a delayed delivery basis | 650,720 |
Capital shares purchased | 55,975 |
Distributions to shareholders | 92,228 |
Management services fees | 618 |
Distribution and/or service fees | 127 |
Transfer agent fees | 2,052 |
Compensation of board members | 107,063 |
Compensation of chief compliance officer | 5 |
Other expenses | 21,259 |
Total liabilities | 930,047 |
Net assets applicable to outstanding capital stock | $48,040,636 |
Represented by | |
Paid in capital | 45,439,872 |
Total distributable earnings (loss) | 2,600,764 |
Total - representing net assets applicable to outstanding capital stock | $48,040,636 |
Class A | |
Net assets | $11,953,794 |
Shares outstanding | 1,130,535 |
Net asset value per share | $10.57 |
Maximum sales charge | 3.00% |
Maximum offering price per share (calculated by dividing the net asset value per share by 1.0 minus the maximum sales charge for Class A shares) | $10.90 |
Advisor Class | |
Net assets | $1,218,341 |
Shares outstanding | 115,169 |
Net asset value per share | $10.58 |
Class C | |
Net assets | $1,648,039 |
Shares outstanding | 155,790 |
Net asset value per share | $10.58 |
Institutional Class | |
Net assets | $7,407,642 |
Shares outstanding | 700,709 |
Net asset value per share | $10.57 |
Institutional 3 Class | |
Net assets | $25,812,820 |
Shares outstanding | 2,433,559 |
Net asset value per share | $10.61 |
Columbia Maryland Intermediate Municipal Bond Fund | Semiannual Report 2020 | 11 |
Six Months Ended October 31, 2020 (Unaudited)
Net investment income | |
Income: | |
Dividends — unaffiliated issuers | $1,107 |
Interest | 721,971 |
Total income | 723,078 |
Expenses: | |
Management services fees | 115,585 |
Distribution and/or service fees | |
Class A | 15,219 |
Class C | 8,764 |
Transfer agent fees | |
Class A | 6,181 |
Advisor Class | 603 |
Class C | 890 |
Institutional Class | 3,819 |
Institutional 3 Class | 1,018 |
Compensation of board members | 26,880 |
Custodian fees | 522 |
Printing and postage fees | 4,555 |
Registration fees | 7,344 |
Audit fees | 14,790 |
Legal fees | 4,748 |
Compensation of chief compliance officer | 5 |
Other | 4,201 |
Total expenses | 215,124 |
Fees waived or expenses reimbursed by Investment Manager and its affiliates | (65,268) |
Expense reduction | (20) |
Total net expenses | 149,836 |
Net investment income | 573,242 |
Realized and unrealized gain (loss) — net | |
Net realized gain (loss) on: | |
Investments — unaffiliated issuers | (132,788) |
Net realized loss | (132,788) |
Net change in unrealized appreciation (depreciation) on: | |
Investments — unaffiliated issuers | 1,223,691 |
Net change in unrealized appreciation (depreciation) | 1,223,691 |
Net realized and unrealized gain | 1,090,903 |
Net increase in net assets resulting from operations | $1,664,145 |
12 | Columbia Maryland Intermediate Municipal Bond Fund | Semiannual Report 2020 |
Six Months Ended October 31, 2020 (Unaudited) | Year Ended April 30, 2020 | |
Operations | ||
Net investment income | $573,242 | $1,301,008 |
Net realized gain (loss) | (132,788) | 174,925 |
Net change in unrealized appreciation (depreciation) | 1,223,691 | (817,014) |
Net increase in net assets resulting from operations | 1,664,145 | 658,919 |
Distributions to shareholders | ||
Net investment income and net realized gains | ||
Class A | (130,615) | (289,199) |
Advisor Class | (14,255) | (23,107) |
Class C | (12,196) | (27,009) |
Institutional Class | (90,145) | (207,095) |
Institutional 3 Class | (330,566) | (754,598) |
Total distributions to shareholders | (577,777) | (1,301,008) |
Decrease in net assets from capital stock activity | (1,587,364) | (105,143) |
Total decrease in net assets | (500,996) | (747,232) |
Net assets at beginning of period | 48,541,632 | 49,288,864 |
Net assets at end of period | $48,040,636 | $48,541,632 |
Columbia Maryland Intermediate Municipal Bond Fund | Semiannual Report 2020 | 13 |
Six Months Ended | Year Ended | |||
October 31, 2020 (Unaudited) | April 30, 2020 | |||
Shares | Dollars ($) | Shares | Dollars ($) | |
Capital stock activity | ||||
Class A | ||||
Subscriptions | 44,562 | 474,113 | 146,952 | 1,563,187 |
Distributions reinvested | 6,322 | 67,093 | 13,926 | 147,757 |
Redemptions | (70,431) | (746,743) | (155,005) | (1,644,938) |
Net increase (decrease) | (19,547) | (205,537) | 5,873 | 66,006 |
Advisor Class | ||||
Subscriptions | 14,850 | 157,810 | 54,890 | 580,892 |
Distributions reinvested | 1,331 | 14,136 | 2,153 | 22,848 |
Redemptions | (12,745) | (135,237) | (16,080) | (170,737) |
Net increase | 3,436 | 36,709 | 40,963 | 433,003 |
Class C | ||||
Subscriptions | 1,138 | 11,998 | 67,811 | 720,493 |
Distributions reinvested | 1,092 | 11,597 | 2,115 | 22,453 |
Redemptions | (23,250) | (246,334) | (40,234) | (430,318) |
Net increase (decrease) | (21,020) | (222,739) | 29,692 | 312,628 |
Institutional Class | ||||
Subscriptions | 42,512 | 451,886 | 140,089 | 1,485,111 |
Distributions reinvested | 6,502 | 68,992 | 15,596 | 165,487 |
Redemptions | (69,517) | (738,672) | (159,889) | (1,679,723) |
Net decrease | (20,503) | (217,794) | (4,204) | (29,125) |
Institutional 3 Class | ||||
Subscriptions | 288,111 | 3,073,713 | 567,947 | 6,056,950 |
Distributions reinvested | 877 | 9,340 | 1,229 | 13,085 |
Redemptions | (380,597) | (4,061,056) | (657,508) | (6,957,690) |
Net decrease | (91,609) | (978,003) | (88,332) | (887,655) |
Total net decrease | (149,243) | (1,587,364) | (16,008) | (105,143) |
14 | Columbia Maryland Intermediate Municipal Bond Fund | Semiannual Report 2020 |
Columbia Maryland Intermediate Municipal Bond Fund | Semiannual Report 2020 | 15 |
Net asset value, beginning of period | Net investment income | Net realized and unrealized gain (loss) | Total from investment operations | Distributions from net investment income | Distributions from net realized gains | Total distributions to shareholders | |
Class A | |||||||
Six Months Ended 10/31/2020 (Unaudited) | $10.34 | 0.11 | 0.23 | 0.34 | (0.11) | — | (0.11) |
Year Ended 4/30/2020 | $10.47 | 0.25 | (0.13) | 0.12 | (0.25) | — | (0.25) |
Year Ended 4/30/2019 | $10.36 | 0.28 | 0.17 | 0.45 | (0.28) | (0.06) | (0.34) |
Year Ended 4/30/2018 | $10.61 | 0.27 | (0.20) | 0.07 | (0.27) | (0.05) | (0.32) |
Year Ended 4/30/2017 | $10.90 | 0.27 | (0.29) | (0.02) | (0.27) | — | (0.27) |
Year Ended 4/30/2016 | $10.81 | 0.29 | 0.09 | 0.38 | (0.29) | — | (0.29) |
Advisor Class | |||||||
Six Months Ended 10/31/2020 (Unaudited) | $10.35 | 0.13 | 0.23 | 0.36 | (0.13) | — | (0.13) |
Year Ended 4/30/2020 | $10.47 | 0.28 | (0.12) | 0.16 | (0.28) | — | (0.28) |
Year Ended 4/30/2019 | $10.36 | 0.30 | 0.18 | 0.48 | (0.31) | (0.06) | (0.37) |
Year Ended 4/30/2018 | $10.61 | 0.30 | (0.20) | 0.10 | (0.30) | (0.05) | (0.35) |
Year Ended 4/30/2017 | $10.90 | 0.30 | (0.29) | 0.01 | (0.30) | — | (0.30) |
Year Ended 4/30/2016 | $10.81 | 0.32 | 0.09 | 0.41 | (0.32) | — | (0.32) |
Class C | |||||||
Six Months Ended 10/31/2020 (Unaudited) | $10.35 | 0.07 | 0.23 | 0.30 | (0.07) | — | (0.07) |
Year Ended 4/30/2020 | $10.47 | 0.17 | (0.12) | 0.05 | (0.17) | — | (0.17) |
Year Ended 4/30/2019 | $10.36 | 0.20 | 0.17 | 0.37 | (0.20) | (0.06) | (0.26) |
Year Ended 4/30/2018 | $10.61 | 0.19 | (0.20) | (0.01) | (0.19) | (0.05) | (0.24) |
Year Ended 4/30/2017 | $10.90 | 0.19 | (0.29) | (0.10) | (0.19) | — | (0.19) |
Year Ended 4/30/2016 | $10.81 | 0.21 | 0.09 | 0.30 | (0.21) | — | (0.21) |
Institutional Class | |||||||
Six Months Ended 10/31/2020 (Unaudited) | $10.34 | 0.13 | 0.23 | 0.36 | (0.13) | — | (0.13) |
Year Ended 4/30/2020 | $10.46 | 0.28 | (0.12) | 0.16 | (0.28) | — | (0.28) |
Year Ended 4/30/2019 | $10.36 | 0.30 | 0.16 | 0.46 | (0.30) | (0.06) | (0.36) |
Year Ended 4/30/2018 | $10.61 | 0.30 | (0.20) | 0.10 | (0.30) | (0.05) | (0.35) |
Year Ended 4/30/2017 | $10.90 | 0.29 | (0.28) | 0.01 | (0.30) | — | (0.30) |
Year Ended 4/30/2016 | $10.81 | 0.32 | 0.09 | 0.41 | (0.32) | — | (0.32) |
16 | Columbia Maryland Intermediate Municipal Bond Fund | Semiannual Report 2020 |
Net asset value, end of period | Total return | Total gross expense ratio to average net assets(a) | Total net expense ratio to average net assets(a),(b) | Net investment income ratio to average net assets | Portfolio turnover | Net assets, end of period (000’s) | |
Class A | |||||||
Six Months Ended 10/31/2020 (Unaudited) | $10.57 | 3.32% | 1.08%(c) | 0.81%(c),(d) | 2.12%(c) | 7% | $11,954 |
Year Ended 4/30/2020 | $10.34 | 1.11% | 0.96% | 0.81%(d) | 2.36% | 15% | $11,896 |
Year Ended 4/30/2019 | $10.47 | 4.42% | 0.98%(e) | 0.79%(d),(e) | 2.67% | 4% | $11,976 |
Year Ended 4/30/2018 | $10.36 | 0.65% | 0.98% | 0.79%(d) | 2.55% | 9% | $13,494 |
Year Ended 4/30/2017 | $10.61 | (0.19%) | 1.01% | 0.81% | 2.50% | 20% | $15,125 |
Year Ended 4/30/2016 | $10.90 | 3.60% | 1.04% | 0.81%(d) | 2.72% | 13% | $18,362 |
Advisor Class | |||||||
Six Months Ended 10/31/2020 (Unaudited) | $10.58 | 3.45% | 0.82%(c) | 0.56%(c),(d) | 2.37%(c) | 7% | $1,218 |
Year Ended 4/30/2020 | $10.35 | 1.46% | 0.70% | 0.56%(d) | 2.60% | 15% | $1,156 |
Year Ended 4/30/2019 | $10.47 | 4.68% | 0.73%(e) | 0.55%(d),(e) | 2.94% | 4% | $741 |
Year Ended 4/30/2018 | $10.36 | 0.90% | 0.72% | 0.54%(d) | 2.79% | 9% | $274 |
Year Ended 4/30/2017 | $10.61 | 0.07% | 0.72% | 0.54% | 2.87% | 20% | $86 |
Year Ended 4/30/2016 | $10.90 | 3.86% | 0.77% | 0.56%(d) | 2.97% | 13% | $10 |
Class C | |||||||
Six Months Ended 10/31/2020 (Unaudited) | $10.58 | 2.93% | 1.82%(c) | 1.56%(c),(d) | 1.37%(c) | 7% | $1,648 |
Year Ended 4/30/2020 | $10.35 | 0.45% | 1.71% | 1.56%(d) | 1.60% | 15% | $1,830 |
Year Ended 4/30/2019 | $10.47 | 3.64% | 1.73%(e) | 1.54%(d),(e) | 1.91% | 4% | $1,540 |
Year Ended 4/30/2018 | $10.36 | (0.10%) | 1.73% | 1.54%(d) | 1.80% | 9% | $2,497 |
Year Ended 4/30/2017 | $10.61 | (0.93%) | 1.76% | 1.56% | 1.76% | 20% | $2,807 |
Year Ended 4/30/2016 | $10.90 | 2.83% | 1.79% | 1.56%(d) | 1.97% | 13% | $2,638 |
Institutional Class | |||||||
Six Months Ended 10/31/2020 (Unaudited) | $10.57 | 3.45% | 0.83%(c) | 0.56%(c),(d) | 2.37%(c) | 7% | $7,408 |
Year Ended 4/30/2020 | $10.34 | 1.46% | 0.71% | 0.56%(d) | 2.60% | 15% | $7,458 |
Year Ended 4/30/2019 | $10.46 | 4.58% | 0.73%(e) | 0.54%(d),(e) | 2.92% | 4% | $7,591 |
Year Ended 4/30/2018 | $10.36 | 0.89% | 0.74% | 0.55%(d) | 2.76% | 9% | $7,148 |
Year Ended 4/30/2017 | $10.61 | 0.06% | 0.76% | 0.56% | 2.75% | 20% | $57,704 |
Year Ended 4/30/2016 | $10.90 | 3.86% | 0.79% | 0.56%(d) | 2.97% | 13% | $72,405 |
Columbia Maryland Intermediate Municipal Bond Fund | Semiannual Report 2020 | 17 |
Net asset value, beginning of period | Net investment income | Net realized and unrealized gain (loss) | Total from investment operations | Distributions from net investment income | Distributions from net realized gains | Total distributions to shareholders | |
Institutional 3 Class | |||||||
Six Months Ended 10/31/2020 (Unaudited) | $10.38 | 0.13 | 0.23 | 0.36 | (0.13) | — | (0.13) |
Year Ended 4/30/2020 | $10.50 | 0.29 | (0.12) | 0.17 | (0.29) | — | (0.29) |
Year Ended 4/30/2019 | $10.39 | 0.31 | 0.18 | 0.49 | (0.32) | (0.06) | (0.38) |
Year Ended 4/30/2018 | $10.64 | 0.31 | (0.20) | 0.11 | (0.31) | (0.05) | (0.36) |
Year Ended 4/30/2017(f) | $10.55 | 0.05 | 0.09(g) | 0.14 | (0.05) | — | (0.05) |
Notes to Financial Highlights | |
(a) | In addition to the fees and expenses that the Fund bears directly, the Fund indirectly bears a pro rata share of the fees and expenses of any other funds in which it invests. Such indirect expenses are not included in the Fund’s reported expense ratios. |
(b) | Total net expenses include the impact of certain fee waivers/expense reimbursements made by the Investment Manager and certain of its affiliates, if applicable. |
(c) | Annualized. |
(d) | The benefits derived from expense reductions had an impact of less than 0.01%. |
(e) | Ratios include interfund lending expense which is less than 0.01%. |
(f) | Institutional 3 Class shares commenced operations on March 1, 2017. Per share data and total return reflect activity from that date. |
(g) | Calculation of the net gain (loss) per share (both realized and unrealized) does not correlate to the aggregate realized and unrealized gain (loss) presented in the Statement of Operations due to the timing of subscriptions and redemptions of Fund shares in relation to fluctuations in the market value of the portfolio. |
18 | Columbia Maryland Intermediate Municipal Bond Fund | Semiannual Report 2020 |
Net asset value, end of period | Total return | Total gross expense ratio to average net assets(a) | Total net expense ratio to average net assets(a),(b) | Net investment income ratio to average net assets | Portfolio turnover | Net assets, end of period (000’s) | |
Institutional 3 Class | |||||||
Six Months Ended 10/31/2020 (Unaudited) | $10.61 | 3.49% | 0.73%(c) | 0.47%(c) | 2.46%(c) | 7% | $25,813 |
Year Ended 4/30/2020 | $10.38 | 1.56% | 0.62% | 0.46% | 2.70% | 15% | $26,202 |
Year Ended 4/30/2019 | $10.50 | 4.78% | 0.63%(e) | 0.44%(e) | 3.01% | 4% | $27,441 |
Year Ended 4/30/2018 | $10.39 | 1.02% | 0.62% | 0.43% | 2.93% | 9% | $39,116 |
Year Ended 4/30/2017(f) | $10.64 | 1.35% | 0.58%(c) | 0.42%(c) | 3.05%(c) | 20% | $10 |
Columbia Maryland Intermediate Municipal Bond Fund | Semiannual Report 2020 | 19 |
October 31, 2020 (Unaudited)
20 | Columbia Maryland Intermediate Municipal Bond Fund | Semiannual Report 2020 |
October 31, 2020 (Unaudited)
Columbia Maryland Intermediate Municipal Bond Fund | Semiannual Report 2020 | 21 |
October 31, 2020 (Unaudited)
22 | Columbia Maryland Intermediate Municipal Bond Fund | Semiannual Report 2020 |
October 31, 2020 (Unaudited)
Effective rate (%) | |
Class A | 0.10 |
Advisor Class | 0.10 |
Class C | 0.10 |
Institutional Class | 0.10 |
Institutional 3 Class | 0.01 |
Front End (%) | CDSC (%) | Amount ($) | |
Class A | 3.00 | 0.75(a) | 8,257 |
Class C | — | 1.00(b) | — |
(a) | This charge is imposed on certain investments of $500,000 or more if redeemed within 12 months after purchase. |
(b) | This charge applies to redemptions within 12 months after purchase, with certain limited exceptions. |
Columbia Maryland Intermediate Municipal Bond Fund | Semiannual Report 2020 | 23 |
October 31, 2020 (Unaudited)
Fee rate(s) contractual through August 31, 2021 | |
Class A | 0.81% |
Advisor Class | 0.56 |
Class C | 1.56 |
Institutional Class | 0.56 |
Institutional 3 Class | 0.47 |
Federal tax cost ($) | Gross unrealized appreciation ($) | Gross unrealized (depreciation) ($) | Net unrealized appreciation ($) |
45,879,000 | 2,513,000 | (93,000) | 2,420,000 |
24 | Columbia Maryland Intermediate Municipal Bond Fund | Semiannual Report 2020 |
October 31, 2020 (Unaudited)
Columbia Maryland Intermediate Municipal Bond Fund | Semiannual Report 2020 | 25 |
October 31, 2020 (Unaudited)
26 | Columbia Maryland Intermediate Municipal Bond Fund | Semiannual Report 2020 |
October 31, 2020 (Unaudited)
Columbia Maryland Intermediate Municipal Bond Fund | Semiannual Report 2020 | 27 |
October 31, 2020 (Unaudited)
28 | Columbia Maryland Intermediate Municipal Bond Fund | Semiannual Report 2020 |
Columbia Maryland Intermediate Municipal Bond Fund | Semiannual Report 2020 | 29 |
The Board also discussed the acceptability of the terms of the Management Agreement (including the relatively broad scope of services required to be performed by Columbia Threadneedle), noting that no material changes are proposed from the form of agreement previously approved. They also noted the wide array of legal and compliance services provided to the Funds under the Management Agreement. It was observed that the services being performed under the Management Agreement were of a reasonable quality.
30 | Columbia Maryland Intermediate Municipal Bond Fund | Semiannual Report 2020 |
Economies of scale to be realized
Columbia Maryland Intermediate Municipal Bond Fund | Semiannual Report 2020 | 31 |
columbiathreadneedleus.com/investor/. The Fund is distributed by Columbia Management Investment Distributors, Inc., member FINRA, and managed by Columbia Management Investment Advisers, LLC.
October 31, 2020
(Unaudited)
Average annual total returns (%) (for the period ended October 31, 2020) | ||||||
Inception | 6 Months cumulative | 1 Year | 5 Years | 10 Years | ||
Class A | Excluding sales charges | 05/04/92 | 3.86 | 2.89 | 2.45 | 2.65 |
Including sales charges | 0.74 | -0.24 | 1.83 | 2.34 | ||
Advisor Class* | 03/19/13 | 3.99 | 3.14 | 2.70 | 2.91 | |
Class C | Excluding sales charges | 06/17/92 | 3.46 | 2.12 | 1.68 | 1.89 |
Including sales charges | 2.46 | 1.12 | 1.68 | 1.89 | ||
Institutional Class | 03/01/92 | 3.99 | 3.14 | 2.70 | 2.91 | |
Institutional 3 Class* | 03/01/17 | 4.03 | 3.25 | 2.78 | 2.95 | |
Bloomberg Barclays 3-15 Year Blend Municipal Bond Index | 4.67 | 3.84 | 3.41 | 3.66 |
* | The returns shown for periods prior to the share class inception date (including returns for the Life of the Fund, if shown, which are since Fund inception) include the returns of the Fund’s oldest share class. These returns are adjusted to reflect any higher class-related operating expenses of the newer share classes, as applicable. Please visit columbiathreadneedleus.com/investor/investment-products /mutual-funds/appended-performance for more information. |
Columbia Georgia Intermediate Municipal Bond Fund | Semiannual Report 2020 | 3 |
(Unaudited)
Quality breakdown (%) (at October 31, 2020) | |
AAA rating | 11.8 |
AA rating | 54.2 |
A rating | 27.7 |
BBB rating | 5.2 |
BB rating | 1.1 |
Total | 100.0 |
4 | Columbia Georgia Intermediate Municipal Bond Fund | Semiannual Report 2020 |
(Unaudited)
May 1, 2020 — October 31, 2020 | |||||||
Account value at the beginning of the period ($) | Account value at the end of the period ($) | Expenses paid during the period ($) | Fund’s annualized expense ratio (%) | ||||
Actual | Hypothetical | Actual | Hypothetical | Actual | Hypothetical | Actual | |
Class A | 1,000.00 | 1,000.00 | 1,038.60 | 1,021.01 | 4.14 | 4.10 | 0.81 |
Advisor Class | 1,000.00 | 1,000.00 | 1,039.90 | 1,022.26 | 2.86 | 2.84 | 0.56 |
Class C | 1,000.00 | 1,000.00 | 1,034.60 | 1,017.25 | 7.96 | 7.89 | 1.56 |
Institutional Class | 1,000.00 | 1,000.00 | 1,039.90 | 1,022.26 | 2.86 | 2.84 | 0.56 |
Institutional 3 Class | 1,000.00 | 1,000.00 | 1,040.30 | 1,022.76 | 2.35 | 2.33 | 0.46 |
Columbia Georgia Intermediate Municipal Bond Fund | Semiannual Report 2020 | 5 |
October 31, 2020 (Unaudited)
Municipal Bonds 98.5% | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Airport 6.1% | ||||
City of Atlanta Department of Aviation | ||||
Refunding Revenue Bonds | ||||
General | ||||
Series 2010C | ||||
01/01/2025 | 5.000% | 1,500,000 | 1,511,535 | |
Revenue Bonds | ||||
Series 2012B | ||||
01/01/2027 | 5.000% | 1,000,000 | 1,049,830 | |
Total | 2,561,365 | |||
Higher Education 15.4% | ||||
Bulloch County Development Authority | ||||
Refunding Revenue Bonds | ||||
Georgia Southern University Housing Foundation | ||||
Series 2012 (AGM) | ||||
08/01/2027 | 5.000% | 500,000 | 532,055 | |
Carrollton Payroll Development Authority | ||||
Refunding Revenue Bonds | ||||
Anticipation Certificates - UWG Campus Center | ||||
Series 2012 (AGM) | ||||
08/01/2025 | 5.000% | 800,000 | 859,632 | |
Dahlonega Downtown Development Authority | ||||
Refunding Revenue Bonds | ||||
North Georgia MAC LLC Project | ||||
Series 2017 | ||||
07/01/2032 | 4.000% | 1,000,000 | 1,139,310 | |
Development Authority of Bulloch County | ||||
Unrefunded Refunding Revenue Bond | ||||
Georgia Southern University Housing Foundation | ||||
Series 2017 | ||||
07/01/2034 | 5.000% | 400,000 | 476,128 | |
Fulton County Development Authority | ||||
Refunding Revenue Bonds | ||||
Spelman College | ||||
Series 2015 | ||||
06/01/2032 | 5.000% | 1,000,000 | 1,128,460 | |
Gwinnett County Development Authority | ||||
Refunding Revenue Bonds | ||||
Georgia Gwinnett College Student Housing | ||||
Series 2017 | ||||
07/01/2034 | 5.000% | 1,000,000 | 1,179,370 | |
Private Colleges & Universities Authority | ||||
Revenue Bonds | ||||
Emory University | ||||
Series 2019A | ||||
09/01/2037 | 5.000% | 300,000 | 383,397 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Richmond County Development Authority | ||||
Refunding Revenue Bonds | ||||
ASU Jaguar Student Housing | ||||
Series 2012 (AGM) | ||||
02/01/2027 | 5.000% | 750,000 | 814,575 | |
Total | 6,512,927 | |||
Hospital 14.2% | ||||
Carroll City-County Hospital Authority | ||||
Refunding Revenue Bonds | ||||
Tanner Medical Center, Inc. Project | ||||
Series 2016 | ||||
07/01/2030 | 4.000% | 1,000,000 | 1,147,740 | |
Cedartown Polk County Hospital Authority | ||||
Revenue Bonds | ||||
Floyd Healthcare Polk Medical Center | ||||
RAC Series 2016 | ||||
07/01/2034 | 5.000% | 475,000 | 539,994 | |
Cobb County Kennestone Hospital Authority(a) | ||||
Refunding Revenue Bonds | ||||
WellStar Health System, Inc. Project | ||||
Series 2021 | ||||
04/01/2026 | 5.000% | 300,000 | 358,806 | |
04/01/2027 | 5.000% | 200,000 | 243,638 | |
Coweta County Development Authority | ||||
Refunding Revenue Bonds | ||||
Piedmont Healthcare, Inc. | ||||
Series 2020 | ||||
07/01/2037 | 5.000% | 500,000 | 616,415 | |
Dalton Whitfield County Joint Development Authority | ||||
Revenue Bonds | ||||
Hamilton Health Care System Obligation | ||||
Series 2017 | ||||
08/15/2033 | 5.000% | 300,000 | 365,826 | |
DeKalb Private Hospital Authority | ||||
Revenue Bonds | ||||
Children’s Healthcare of Atlanta | ||||
Series 2019 | ||||
07/01/2035 | 5.000% | 500,000 | 631,065 | |
Floyd County Hospital Authority | ||||
Refunding Revenue Bonds | ||||
Floyd Medical Center Project | ||||
Series 2016 | ||||
07/01/2039 | 4.000% | 1,050,000 | 1,161,468 | |
Gainesville & Hall County Hospital Authority | ||||
Refunding Revenue Bonds | ||||
Northeast Georgia Health System, Inc. Project | ||||
Series 2017 | ||||
02/15/2030 | 5.000% | 300,000 | 363,207 |
6 | Columbia Georgia Intermediate Municipal Bond Fund | Semiannual Report 2020 |
October 31, 2020 (Unaudited)
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Glynn-Brunswick Memorial Hospital Authority | ||||
Refunding Revenue Bonds | ||||
Anticipation Certificates | ||||
Series 2020 | ||||
08/01/2036 | 4.000% | 500,000 | 558,605 | |
Total | 5,986,764 | |||
Investor Owned 1.2% | ||||
Burke County Development Authority | ||||
Revenue Bonds | ||||
Georgia Power Co. Plant Vogtle Project | ||||
Series 2019 (Mandatory Put 05/25/23) | ||||
10/01/2032 | 2.250% | 500,000 | 517,670 | |
Joint Power Authority 6.0% | ||||
Municipal Electric Authority of Georgia | ||||
Refunding Revenue Bonds | ||||
Project One | ||||
Subordinated Series 2015A | ||||
01/01/2032 | 5.000% | 1,000,000 | 1,140,740 | |
Revenue Bonds | ||||
Project One | ||||
Subordinated Series 2008A | ||||
01/01/2021 | 5.250% | 1,395,000 | 1,405,714 | |
Total | 2,546,454 | |||
Local Appropriation 0.6% | ||||
Macon-Bibb County Urban Development Authority | ||||
Refunding Revenue Bonds | ||||
Macon-Bibb County Public Project | ||||
Series 2017 | ||||
12/01/2032 | 5.000% | 200,000 | 248,072 | |
Local General Obligation 24.2% | ||||
Cherokee County Board of Education | ||||
Unlimited General Obligation Bonds | ||||
Series 2014A | ||||
08/01/2030 | 5.000% | 1,000,000 | 1,162,580 | |
City of Atlanta | ||||
Unlimited General Obligation Refunding Bonds | ||||
Series 2014A | ||||
12/01/2026 | 5.000% | 500,000 | 595,115 | |
Forsyth County School District | ||||
Unlimited General Obligation Bonds | ||||
Series 2014 | ||||
02/01/2028 | 5.000% | 500,000 | 574,400 | |
Series 2018 | ||||
02/01/2033 | 5.000% | 500,000 | 634,645 | |
Gainesville School District | ||||
Unlimited General Obligation Bonds | ||||
Series 2020 | ||||
11/01/2030 | 5.000% | 500,000 | 685,115 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Gwinnett County School District | ||||
Unlimited General Obligation Refunding Bonds | ||||
Series 2010 | ||||
02/01/2024 | 5.000% | 1,000,000 | 1,153,360 | |
Hall County School District | ||||
Unlimited General Obligation Bonds | ||||
Series 2020 (BAM) | ||||
BUILD AMERICA MUTUAL ASSURANCE CO | ||||
02/01/2034 | 4.000% | 500,000 | 622,225 | |
Heard County Public Facilities Authority | ||||
Revenue Bonds | ||||
School District Project | ||||
Series 2020 | ||||
03/01/2028 | 5.000% | 500,000 | 651,220 | |
Jefferson City School District | ||||
Unlimited General Obligation Refunding Bonds | ||||
Series 2017 | ||||
02/01/2031 | 4.000% | 500,000 | 591,425 | |
Lawrenceville Building Authority | ||||
Revenue Bonds | ||||
Lawrenceville Performing Arts | ||||
Series 2019 | ||||
10/01/2035 | 3.000% | 500,000 | 540,140 | |
10/01/2036 | 3.000% | 500,000 | 539,925 | |
Pierce County School District | ||||
Unlimited General Obligation Bonds | ||||
Series 2017 | ||||
01/01/2032 | 4.000% | 425,000 | 498,338 | |
South Fulton Municipal Regional Water & Sewer Authority | ||||
Refunding Revenue Bonds | ||||
Series 2014 | ||||
01/01/2031 | 5.000% | 1,000,000 | 1,117,670 | |
Villa Rica Public Facilities Authority | ||||
Refunding Revenue Bonds | ||||
Water & Sewer Project | ||||
Series 2015 | ||||
03/01/2031 | 5.000% | 750,000 | 871,470 | |
Total | 10,237,628 | |||
Multi-Family 2.5% | ||||
Cobb County Development Authority | ||||
Refunding Revenue Bonds | ||||
Kennesaw State University | ||||
Series 2014 | ||||
07/15/2029 | 5.000% | 980,000 | 1,048,110 |
Columbia Georgia Intermediate Municipal Bond Fund | Semiannual Report 2020 | 7 |
October 31, 2020 (Unaudited)
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Other Utility 1.6% | ||||
City of Buford Combined Utility System | ||||
Revenue Bonds | ||||
Series 2020 (AGM) | ||||
07/01/2026 | 4.000% | 140,000 | 165,602 | |
07/01/2033 | 4.000% | 415,000 | 491,683 | |
Total | 657,285 | |||
Prep School 1.1% | ||||
Gainesville & Hall County Development Authority | ||||
Refunding Revenue Bonds | ||||
Riverside Military Academy | ||||
Series 2017 | ||||
03/01/2027 | 5.000% | 445,000 | 450,660 | |
Prepaid Gas 1.4% | ||||
Main Street Natural Gas, Inc. | ||||
Revenue Bonds | ||||
Series 2019C | ||||
09/01/2026 | 5.000% | 500,000 | 609,730 | |
Refunded / Escrowed 2.4% | ||||
Development Authority of Bulloch County | ||||
Prerefunded 07/01/27 Revenue Bonds | ||||
Georgia Southern University | ||||
Series 2017 | ||||
07/01/2034 | 5.000% | 100,000 | 128,990 | |
Georgia State Road & Tollway Authority(b),(c) | ||||
Prerefunded 06/01/24 Revenue Bonds | ||||
I-75 S Express Lanes Project | ||||
Series 2014 | ||||
06/01/2024 | 0.000% | 1,000,000 | 905,590 | |
Total | 1,034,580 | |||
Sales Tax 1.3% | ||||
Metropolitan Atlanta Rapid Transit Authority | ||||
Revenue Bonds | ||||
Series 2019A | ||||
07/01/2036 | 3.000% | 500,000 | 545,240 | |
Single Family 2.5% | ||||
Georgia Housing & Finance Authority | ||||
Revenue Bonds | ||||
Series 2014B-1 | ||||
12/01/2029 | 3.000% | 1,000,000 | 1,049,930 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Special Property Tax 4.2% | ||||
Atlanta & Fulton County Recreation Authority | ||||
Refunding Revenue Bonds | ||||
Park Improvement | ||||
Series 2014A | ||||
12/01/2028 | 5.000% | 525,000 | 622,755 | |
12/01/2033 | 5.000% | 1,000,000 | 1,167,610 | |
Total | 1,790,365 | |||
State General Obligation 1.4% | ||||
State of Georgia | ||||
Unlimited General Obligation Bonds | ||||
Series 2018A | ||||
07/01/2035 | 4.000% | 500,000 | 594,600 | |
Water & Sewer 12.4% | ||||
Augusta Water & Sewerage | ||||
Refunding Revenue Bonds | ||||
Series 2017 | ||||
10/01/2029 | 3.000% | 750,000 | 827,587 | |
Cherokee County Water & Sewer Authority | ||||
Refunding Revenue Bonds | ||||
Series 2016 | ||||
08/01/2031 | 5.000% | 250,000 | 303,463 | |
City of Atlanta Water & Wastewater | ||||
Refunding Revenue Bonds | ||||
Series 2017A | ||||
11/01/2034 | 5.000% | 1,000,000 | 1,255,670 | |
City of Cartersville | ||||
Refunding Revenue Bonds | ||||
Series 2018 | ||||
06/01/2035 | 4.000% | 500,000 | 584,015 | |
County of Columbia Water & Sewerage | ||||
Refunding Revenue Bonds | ||||
Forward Delivery | ||||
Series 2020 | ||||
06/01/2035 | 5.000% | 450,000 | 597,888 | |
County of DeKalb Water & Sewage | ||||
Refunding Revenue Bonds | ||||
Series 2006B | ||||
10/01/2021 | 5.250% | 1,000,000 | 1,045,760 | |
Etowah Water & Sewer Authority | ||||
Refunding Revenue Bonds | ||||
Series 2019 (BAM) | ||||
03/01/2028 | 5.000% | 500,000 | 640,550 | |
Total | 5,254,933 | |||
Total Municipal Bonds (Cost $39,480,253) | 41,646,313 |
8 | Columbia Georgia Intermediate Municipal Bond Fund | Semiannual Report 2020 |
October 31, 2020 (Unaudited)
Money Market Funds 2.3% | ||
Shares | Value ($) | |
Dreyfus AMT-Free Tax Exempt Cash Management Fund, Institutional Shares, 0.010%(d) | 207,236 | 207,216 |
JPMorgan Institutional Tax Free Money Market Fund, Institutional Shares, 0.012%(d) | 754,441 | 754,441 |
Total Money Market Funds (Cost $961,677) | 961,657 | |
Total Investments in Securities (Cost: $40,441,930) | 42,607,970 | |
Other Assets & Liabilities, Net | (321,003) | |
Net Assets | 42,286,967 |
(a) | Represents a security purchased on a when-issued basis. |
(b) | Represents privately placed and other securities and instruments exempt from Securities and Exchange Commission registration (collectively, private placements), such as Section 4(a)(2) and Rule 144A eligible securities, which are often sold only to qualified institutional buyers. At October 31, 2020, the total value of these securities amounted to $905,590, which represents 2.14% of total net assets. |
(c) | Zero coupon bond. |
(d) | The rate shown is the seven-day current annualized yield at October 31, 2020. |
AGM | Assured Guaranty Municipal Corporation |
BAM | Build America Mutual Assurance Co. |
■ | Level 1 — Valuations based on quoted prices for investments in active markets that the Fund has the ability to access at the measurement date. Valuation adjustments are not applied to Level 1 investments. |
■ | Level 2 — Valuations based on other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risks, etc.). |
■ | Level 3 — Valuations based on significant unobservable inputs (including the Fund’s own assumptions and judgment in determining the fair value of investments). |
Columbia Georgia Intermediate Municipal Bond Fund | Semiannual Report 2020 | 9 |
October 31, 2020 (Unaudited)
methodologies; events that require specific valuation determinations and assessment of fair value techniques; securities with a potential for stale pricing, including those that are illiquid, restricted, or in default; and the effectiveness of third party pricing vendors, including periodic reviews of vendors. The Committee meets more frequently, as needed, to discuss additional valuation matters, which may include the need to review back-testing results, review time-sensitive information or approve related valuation actions. The Committee reports to the Board, with members of the Committee meeting with the Board at each of its regularly scheduled meetings to discuss valuation matters and actions during the period, similar to those described earlier.
Level 1 ($) | Level 2 ($) | Level 3 ($) | Total ($) | |
Investments in Securities | ||||
Municipal Bonds | — | 41,646,313 | — | 41,646,313 |
Money Market Funds | 961,657 | — | — | 961,657 |
Total Investments in Securities | 961,657 | 41,646,313 | — | 42,607,970 |
10 | Columbia Georgia Intermediate Municipal Bond Fund | Semiannual Report 2020 |
October 31, 2020 (Unaudited)
Assets | |
Investments in securities, at value | |
Unaffiliated issuers (cost $40,441,930) | $42,607,970 |
Cash | 734 |
Receivable for: | |
Capital shares sold | 30,973 |
Interest | 471,184 |
Expense reimbursement due from Investment Manager | 232 |
Prepaid expenses | 2,044 |
Total assets | 43,113,137 |
Liabilities | |
Payable for: | |
Investments purchased on a delayed delivery basis | 602,065 |
Capital shares purchased | 12,702 |
Distributions to shareholders | 79,299 |
Management services fees | 543 |
Distribution and/or service fees | 102 |
Transfer agent fees | 4,957 |
Compensation of board members | 105,127 |
Compensation of chief compliance officer | 5 |
Other expenses | 21,370 |
Total liabilities | 826,170 |
Net assets applicable to outstanding capital stock | $42,286,967 |
Represented by | |
Paid in capital | 39,796,756 |
Total distributable earnings (loss) | 2,490,211 |
Total - representing net assets applicable to outstanding capital stock | $42,286,967 |
Class A | |
Net assets | $9,795,978 |
Shares outstanding | 922,967 |
Net asset value per share | $10.61 |
Maximum sales charge | 3.00% |
Maximum offering price per share (calculated by dividing the net asset value per share by 1.0 minus the maximum sales charge for Class A shares) | $10.94 |
Advisor Class | |
Net assets | $248,352 |
Shares outstanding | 23,428 |
Net asset value per share | $10.60 |
Class C | |
Net assets | $1,288,569 |
Shares outstanding | 121,375 |
Net asset value per share | $10.62 |
Institutional Class | |
Net assets | $30,634,166 |
Shares outstanding | 2,886,967 |
Net asset value per share | $10.61 |
Institutional 3 Class | |
Net assets | $319,902 |
Shares outstanding | 30,077 |
Net asset value per share | $10.64 |
Columbia Georgia Intermediate Municipal Bond Fund | Semiannual Report 2020 | 11 |
Six Months Ended October 31, 2020 (Unaudited)
Net investment income | |
Income: | |
Dividends — unaffiliated issuers | $813 |
Interest | 594,016 |
Total income | 594,829 |
Expenses: | |
Management services fees | 98,955 |
Distribution and/or service fees | |
Class A | 12,052 |
Class C | 6,908 |
Transfer agent fees | |
Class A | 5,989 |
Advisor Class | 139 |
Class C | 859 |
Institutional Class | 18,949 |
Institutional 3 Class | 37 |
Compensation of board members | 26,440 |
Custodian fees | 437 |
Printing and postage fees | 4,198 |
Registration fees | 1,642 |
Audit fees | 14,790 |
Legal fees | 4,704 |
Compensation of chief compliance officer | 5 |
Other | 4,144 |
Total expenses | 200,248 |
Fees waived or expenses reimbursed by Investment Manager and its affiliates | (63,738) |
Total net expenses | 136,510 |
Net investment income | 458,319 |
Realized and unrealized gain (loss) — net | |
Net realized gain (loss) on: | |
Investments — unaffiliated issuers | 26,183 |
Net realized gain | 26,183 |
Net change in unrealized appreciation (depreciation) on: | |
Investments — unaffiliated issuers | 1,093,575 |
Net change in unrealized appreciation (depreciation) | 1,093,575 |
Net realized and unrealized gain | 1,119,758 |
Net increase in net assets resulting from operations | $1,578,077 |
12 | Columbia Georgia Intermediate Municipal Bond Fund | Semiannual Report 2020 |
Six Months Ended October 31, 2020 (Unaudited) | Year Ended April 30, 2020 | |
Operations | ||
Net investment income | $458,319 | $1,052,381 |
Net realized gain | 26,183 | 234,741 |
Net change in unrealized appreciation (depreciation) | 1,093,575 | (350,656) |
Net increase in net assets resulting from operations | 1,578,077 | 936,466 |
Distributions to shareholders | ||
Net investment income and net realized gains | ||
Class A | (97,916) | (236,754) |
Advisor Class | (2,558) | (7,357) |
Class C | (8,829) | (25,660) |
Institutional Class | (348,272) | (773,158) |
Institutional 3 Class | (4,424) | (9,452) |
Total distributions to shareholders | (461,999) | (1,052,381) |
Increase in net assets from capital stock activity | 940,293 | 2,939 |
Total increase (decrease) in net assets | 2,056,371 | (112,976) |
Net assets at beginning of period | 40,230,596 | 40,343,572 |
Net assets at end of period | $42,286,967 | $40,230,596 |
Columbia Georgia Intermediate Municipal Bond Fund | Semiannual Report 2020 | 13 |
Six Months Ended | Year Ended | |||
October 31, 2020 (Unaudited) | April 30, 2020 | |||
Shares | Dollars ($) | Shares | Dollars ($) | |
Capital stock activity | ||||
Class A | ||||
Subscriptions | 144,328 | 1,543,953 | 122,112 | 1,282,512 |
Distributions reinvested | 6,586 | 70,109 | 16,668 | 175,433 |
Redemptions | (101,030) | (1,079,567) | (264,922) | (2,779,330) |
Net increase (decrease) | 49,884 | 534,495 | (126,142) | (1,321,385) |
Advisor Class | ||||
Subscriptions | 5,423 | 57,654 | — | — |
Distributions reinvested | 230 | 2,445 | 676 | 7,108 |
Redemptions | (225) | (2,388) | (12,703) | (131,503) |
Net increase (decrease) | 5,428 | 57,711 | (12,027) | (124,395) |
Class C | ||||
Subscriptions | 1,091 | 11,441 | 798 | 8,397 |
Distributions reinvested | 742 | 7,905 | 2,062 | 21,708 |
Redemptions | (16,968) | (181,725) | (76,549) | (803,060) |
Net decrease | (15,135) | (162,379) | (73,689) | (772,955) |
Institutional Class | ||||
Subscriptions | 363,738 | 3,865,157 | 940,996 | 9,942,581 |
Distributions reinvested | 6,298 | 67,035 | 14,441 | 151,993 |
Redemptions | (287,997) | (3,055,504) | (794,305) | (8,416,377) |
Net increase | 82,039 | 876,688 | 161,132 | 1,678,197 |
Institutional 3 Class | ||||
Subscriptions | 42,924 | 449,344 | 54,386 | 571,199 |
Distributions reinvested | 357 | 3,807 | 870 | 9,185 |
Redemptions | (78,032) | (819,373) | (3,541) | (36,907) |
Net increase (decrease) | (34,751) | (366,222) | 51,715 | 543,477 |
Total net increase | 87,465 | 940,293 | 989 | 2,939 |
14 | Columbia Georgia Intermediate Municipal Bond Fund | Semiannual Report 2020 |
Columbia Georgia Intermediate Municipal Bond Fund | Semiannual Report 2020 | 15 |
Net asset value, beginning of period | Net investment income | Net realized and unrealized gain (loss) | Total from investment operations | Distributions from net investment income | Distributions from net realized gains | Total distributions to shareholders | |
Class A | |||||||
Six Months Ended 10/31/2020 (Unaudited) | $10.32 | 0.11 | 0.29 | 0.40 | (0.11) | — | (0.11) |
Year Ended 4/30/2020 | $10.35 | 0.24 | (0.03) | 0.21 | (0.24) | — | (0.24) |
Year Ended 4/30/2019 | $10.17 | 0.27 | 0.18 | 0.45 | (0.27) | — | (0.27) |
Year Ended 4/30/2018 | $10.45 | 0.26 | (0.24) | 0.02 | (0.26) | (0.04) | (0.30) |
Year Ended 4/30/2017 | $10.88 | 0.27 | (0.37) | (0.10) | (0.27) | (0.06) | (0.33) |
Year Ended 4/30/2016 | $10.81 | 0.29 | 0.11 | 0.40 | (0.29) | (0.04) | (0.33) |
Advisor Class | |||||||
Six Months Ended 10/31/2020 (Unaudited) | $10.31 | 0.12 | 0.29 | 0.41 | (0.12) | — | (0.12) |
Year Ended 4/30/2020 | $10.34 | 0.27 | (0.03) | 0.24 | (0.27) | — | (0.27) |
Year Ended 4/30/2019 | $10.15 | 0.30 | 0.19 | 0.49 | (0.30) | — | (0.30) |
Year Ended 4/30/2018 | $10.44 | 0.28 | (0.25) | 0.03 | (0.28) | (0.04) | (0.32) |
Year Ended 4/30/2017 | $10.87 | 0.30 | (0.38) | (0.08) | (0.29) | (0.06) | (0.35) |
Year Ended 4/30/2016 | $10.79 | 0.32 | 0.12 | 0.44 | (0.32) | (0.04) | (0.36) |
Class C | |||||||
Six Months Ended 10/31/2020 (Unaudited) | $10.33 | 0.07 | 0.29 | 0.36 | (0.07) | — | (0.07) |
Year Ended 4/30/2020 | $10.36 | 0.16 | (0.03) | 0.13 | (0.16) | — | (0.16) |
Year Ended 4/30/2019 | $10.17 | 0.20 | 0.19 | 0.39 | (0.20) | — | (0.20) |
Year Ended 4/30/2018 | $10.46 | 0.18 | (0.25) | (0.07) | (0.18) | (0.04) | (0.22) |
Year Ended 4/30/2017 | $10.88 | 0.19 | (0.36) | (0.17) | (0.19) | (0.06) | (0.25) |
Year Ended 4/30/2016 | $10.81 | 0.21 | 0.11 | 0.32 | (0.21) | (0.04) | (0.25) |
Institutional Class | |||||||
Six Months Ended 10/31/2020 (Unaudited) | $10.32 | 0.12 | 0.29 | 0.41 | (0.12) | — | (0.12) |
Year Ended 4/30/2020 | $10.35 | 0.27 | (0.03) | 0.24 | (0.27) | — | (0.27) |
Year Ended 4/30/2019 | $10.16 | 0.30 | 0.19 | 0.49 | (0.30) | — | (0.30) |
Year Ended 4/30/2018 | $10.45 | 0.28 | (0.25) | 0.03 | (0.28) | (0.04) | (0.32) |
Year Ended 4/30/2017 | $10.88 | 0.30 | (0.37) | (0.07) | (0.30) | (0.06) | (0.36) |
Year Ended 4/30/2016 | $10.81 | 0.32 | 0.11 | 0.43 | (0.32) | (0.04) | (0.36) |
16 | Columbia Georgia Intermediate Municipal Bond Fund | Semiannual Report 2020 |
Net asset value, end of period | Total return | Total gross expense ratio to average net assets(a) | Total net expense ratio to average net assets(a),(b) | Net investment income ratio to average net assets | Portfolio turnover | Net assets, end of period (000’s) | |
Class A | |||||||
Six Months Ended 10/31/2020 (Unaudited) | $10.61 | 3.86% | 1.11%(c) | 0.81%(c) | 2.01%(c) | 1% | $9,796 |
Year Ended 4/30/2020 | $10.32 | 2.02% | 0.99% | 0.81% | 2.30% | 21% | $9,014 |
Year Ended 4/30/2019 | $10.35 | 4.53% | 1.02%(d) | 0.81%(d) | 2.68% | 3% | $10,347 |
Year Ended 4/30/2018 | $10.17 | 0.12% | 0.98% | 0.81% | 2.45% | 12% | $11,819 |
Year Ended 4/30/2017 | $10.45 | (0.93%) | 1.03% | 0.81% | 2.54% | 14% | $18,934 |
Year Ended 4/30/2016 | $10.88 | 3.78% | 1.04% | 0.81% | 2.73% | 13% | $20,377 |
Advisor Class | |||||||
Six Months Ended 10/31/2020 (Unaudited) | $10.60 | 3.99% | 0.85%(c) | 0.56%(c) | 2.26%(c) | 1% | $248 |
Year Ended 4/30/2020 | $10.31 | 2.27% | 0.75% | 0.56% | 2.55% | 21% | $186 |
Year Ended 4/30/2019 | $10.34 | 4.90% | 0.79%(d) | 0.56%(d) | 2.95% | 3% | $311 |
Year Ended 4/30/2018 | $10.15 | 0.27% | 0.73% | 0.56% | 2.69% | 12% | $126 |
Year Ended 4/30/2017 | $10.44 | (0.68%) | 0.77% | 0.56% | 2.79% | 14% | $275 |
Year Ended 4/30/2016 | $10.87 | 4.14% | 0.79% | 0.56% | 2.98% | 13% | $250 |
Class C | |||||||
Six Months Ended 10/31/2020 (Unaudited) | $10.62 | 3.46% | 1.86%(c) | 1.56%(c) | 1.26%(c) | 1% | $1,289 |
Year Ended 4/30/2020 | $10.33 | 1.25% | 1.74% | 1.56% | 1.56% | 21% | $1,410 |
Year Ended 4/30/2019 | $10.36 | 3.85% | 1.77%(d) | 1.56%(d) | 1.93% | 3% | $2,177 |
Year Ended 4/30/2018 | $10.17 | (0.72%) | 1.73% | 1.56% | 1.70% | 12% | $3,068 |
Year Ended 4/30/2017 | $10.46 | (1.57%) | 1.78% | 1.56% | 1.78% | 14% | $3,733 |
Year Ended 4/30/2016 | $10.88 | 3.01% | 1.79% | 1.56% | 1.98% | 13% | $4,996 |
Institutional Class | |||||||
Six Months Ended 10/31/2020 (Unaudited) | $10.61 | 3.99% | 0.86%(c) | 0.56%(c) | 2.26%(c) | 1% | $30,634 |
Year Ended 4/30/2020 | $10.32 | 2.27% | 0.74% | 0.56% | 2.53% | 21% | $28,951 |
Year Ended 4/30/2019 | $10.35 | 4.90% | 0.76%(d) | 0.56%(d) | 2.93% | 3% | $27,373 |
Year Ended 4/30/2018 | $10.16 | 0.28% | 0.73% | 0.56% | 2.70% | 12% | $37,698 |
Year Ended 4/30/2017 | $10.45 | (0.68%) | 0.78% | 0.56% | 2.79% | 14% | $46,421 |
Year Ended 4/30/2016 | $10.88 | 4.04% | 0.79% | 0.56% | 2.98% | 13% | $52,315 |
Columbia Georgia Intermediate Municipal Bond Fund | Semiannual Report 2020 | 17 |
Net asset value, beginning of period | Net investment income | Net realized and unrealized gain (loss) | Total from investment operations | Distributions from net investment income | Distributions from net realized gains | Total distributions to shareholders | |
Institutional 3 Class | |||||||
Six Months Ended 10/31/2020 (Unaudited) | $10.35 | 0.13 | 0.29 | 0.42 | (0.13) | — | (0.13) |
Year Ended 4/30/2020 | $10.38 | 0.27 | (0.02) | 0.25 | (0.28) | — | (0.28) |
Year Ended 4/30/2019 | $10.19 | 0.31 | 0.19 | 0.50 | (0.31) | — | (0.31) |
Year Ended 4/30/2018 | $10.48 | 0.29 | (0.25) | 0.04 | (0.29) | (0.04) | (0.33) |
Year Ended 4/30/2017(e) | $10.41 | 0.05 | 0.07 | 0.12 | (0.05) | — | (0.05) |
Notes to Financial Highlights | |
(a) | In addition to the fees and expenses that the Fund bears directly, the Fund indirectly bears a pro rata share of the fees and expenses of any other funds in which it invests. Such indirect expenses are not included in the Fund’s reported expense ratios. |
(b) | Total net expenses include the impact of certain fee waivers/expense reimbursements made by the Investment Manager and certain of its affiliates, if applicable. |
(c) | Annualized. |
(d) | Ratios include interfund lending expense which is less than 0.01%. |
(e) | Institutional 3 Class shares commenced operations on March 1, 2017. Per share data and total return reflect activity from that date. |
18 | Columbia Georgia Intermediate Municipal Bond Fund | Semiannual Report 2020 |
Net asset value, end of period | Total return | Total gross expense ratio to average net assets(a) | Total net expense ratio to average net assets(a),(b) | Net investment income ratio to average net assets | Portfolio turnover | Net assets, end of period (000’s) | |
Institutional 3 Class | |||||||
Six Months Ended 10/31/2020 (Unaudited) | $10.64 | 4.03% | 0.75%(c) | 0.46%(c) | 2.41%(c) | 1% | $320 |
Year Ended 4/30/2020 | $10.35 | 2.38% | 0.61% | 0.46% | 2.61% | 21% | $671 |
Year Ended 4/30/2019 | $10.38 | 5.00% | 0.66%(d) | 0.45%(d) | 3.04% | 3% | $136 |
Year Ended 4/30/2018 | $10.19 | 0.39% | 0.61% | 0.46% | 2.82% | 12% | $140 |
Year Ended 4/30/2017(e) | $10.48 | 1.17% | 0.64%(c) | 0.43%(c) | 3.04%(c) | 14% | $10 |
Columbia Georgia Intermediate Municipal Bond Fund | Semiannual Report 2020 | 19 |
October 31, 2020 (Unaudited)
20 | Columbia Georgia Intermediate Municipal Bond Fund | Semiannual Report 2020 |
October 31, 2020 (Unaudited)
Columbia Georgia Intermediate Municipal Bond Fund | Semiannual Report 2020 | 21 |
October 31, 2020 (Unaudited)
22 | Columbia Georgia Intermediate Municipal Bond Fund | Semiannual Report 2020 |
October 31, 2020 (Unaudited)
Effective rate (%) | |
Class A | 0.12 |
Advisor Class | 0.12 |
Class C | 0.12 |
Institutional Class | 0.12 |
Institutional 3 Class | 0.02 |
Front End (%) | CDSC (%) | Amount ($) | |
Class A | 3.00 | 0.75(a) | 6,776 |
Class C | — | 1.00(b) | — |
(a) | This charge is imposed on certain investments of $500,000 or more if redeemed within 12 months after purchase. |
(b) | This charge applies to redemptions within 12 months after purchase, with certain limited exceptions. |
Columbia Georgia Intermediate Municipal Bond Fund | Semiannual Report 2020 | 23 |
October 31, 2020 (Unaudited)
September 1, 2020 through August 31, 2021 | Prior to September 1, 2020 | |
Class A | 0.81% | 0.81% |
Advisor Class | 0.56 | 0.56 |
Class C | 1.56 | 1.56 |
Institutional Class | 0.56 | 0.56 |
Institutional 3 Class | 0.45 | 0.46 |
Federal tax cost ($) | Gross unrealized appreciation ($) | Gross unrealized (depreciation) ($) | Net unrealized appreciation ($) |
40,442,000 | 2,217,000 | (51,000) | 2,166,000 |
24 | Columbia Georgia Intermediate Municipal Bond Fund | Semiannual Report 2020 |
October 31, 2020 (Unaudited)
Columbia Georgia Intermediate Municipal Bond Fund | Semiannual Report 2020 | 25 |
October 31, 2020 (Unaudited)
26 | Columbia Georgia Intermediate Municipal Bond Fund | Semiannual Report 2020 |
October 31, 2020 (Unaudited)
Columbia Georgia Intermediate Municipal Bond Fund | Semiannual Report 2020 | 27 |
October 31, 2020 (Unaudited)
28 | Columbia Georgia Intermediate Municipal Bond Fund | Semiannual Report 2020 |
Columbia Georgia Intermediate Municipal Bond Fund | Semiannual Report 2020 | 29 |
The Board also discussed the acceptability of the terms of the Management Agreement (including the relatively broad scope of services required to be performed by Columbia Threadneedle), noting that no material changes are proposed from the form of agreement previously approved. They also noted the wide array of legal and compliance services provided to the Funds under the Management Agreement. It was observed that the services being performed under the Management Agreement were of a reasonable quality.
30 | Columbia Georgia Intermediate Municipal Bond Fund | Semiannual Report 2020 |
Economies of scale to be realized
Columbia Georgia Intermediate Municipal Bond Fund | Semiannual Report 2020 | 31 |
columbiathreadneedleus.com/investor/. The Fund is distributed by Columbia Management Investment Distributors, Inc., member FINRA, and managed by Columbia Management Investment Advisers, LLC.
October 31, 2020
(Unaudited)
Average annual total returns (%) (for the period ended October 31, 2020) | ||||||
Inception | 6 Months cumulative | 1 Year | 5 Years | 10 Years | ||
Class A | Excluding sales charges | 11/02/93 | 2.14 | 1.29 | 1.19 | 0.99 |
Including sales charges | 1.15 | 0.23 | 0.98 | 0.88 | ||
Advisor Class* | 03/19/13 | 2.26 | 1.54 | 1.46 | 1.25 | |
Class C | Excluding sales charges | 05/19/94 | 1.75 | 0.53 | 0.43 | 0.23 |
Including sales charges | 0.75 | -0.47 | 0.43 | 0.23 | ||
Institutional Class | 10/07/93 | 2.27 | 1.54 | 1.44 | 1.24 | |
Institutional 2 Class* | 11/08/12 | 2.39 | 1.68 | 1.51 | 1.30 | |
Institutional 3 Class* | 03/01/17 | 2.41 | 1.73 | 1.51 | 1.27 | |
Bloomberg Barclays 1-3 Year Municipal Bond Index | 1.70 | 2.21 | 1.52 | 1.33 |
* | The returns shown for periods prior to the share class inception date (including returns for the Life of the Fund, if shown, which are since Fund inception) include the returns of the Fund’s oldest share class. These returns are adjusted to reflect any higher class-related operating expenses of the newer share classes, as applicable. Please visit columbiathreadneedleus.com/investor/investment-products/mutual-funds/appended-performance for more information. |
Columbia Short Term Municipal Bond Fund | Semiannual Report 2020 | 3 |
(Unaudited)
Quality breakdown (%) (at October 31, 2020) | |
AAA rating | 5.4 |
AA rating | 27.8 |
A rating | 38.4 |
BBB rating | 11.0 |
BB rating | 0.5 |
Not rated | 16.9 |
Total | 100.0 |
Top Ten States/Territories (%) (at October 31, 2020) | |
New York | 20.2 |
Illinois | 11.7 |
New Jersey | 7.9 |
Connecticut | 4.8 |
Massachusetts | 4.7 |
Pennsylvania | 4.2 |
Texas | 3.8 |
Georgia | 3.4 |
Indiana | 2.9 |
Washington | 2.6 |
4 | Columbia Short Term Municipal Bond Fund | Semiannual Report 2020 |
(Unaudited)
May 1, 2020 — October 31, 2020 | |||||||
Account value at the beginning of the period ($) | Account value at the end of the period ($) | Expenses paid during the period ($) | Fund’s annualized expense ratio (%) | ||||
Actual | Hypothetical | Actual | Hypothetical | Actual | Hypothetical | Actual | |
Class A | 1,000.00 | 1,000.00 | 1,021.40 | 1,021.76 | 3.34 | 3.35 | 0.66 |
Advisor Class | 1,000.00 | 1,000.00 | 1,022.60 | 1,023.01 | 2.08 | 2.08 | 0.41 |
Class C | 1,000.00 | 1,000.00 | 1,017.50 | 1,018.00 | 7.13 | 7.13 | 1.41 |
Institutional Class | 1,000.00 | 1,000.00 | 1,022.70 | 1,023.01 | 2.08 | 2.08 | 0.41 |
Institutional 2 Class | 1,000.00 | 1,000.00 | 1,023.90 | 1,023.21 | 1.88 | 1.88 | 0.37 |
Institutional 3 Class | 1,000.00 | 1,000.00 | 1,024.10 | 1,023.46 | 1.62 | 1.62 | 0.32 |
Columbia Short Term Municipal Bond Fund | Semiannual Report 2020 | 5 |
October 31, 2020 (Unaudited)
Floating Rate Notes 2.0% | ||||
Issue Description | Effective Yield | Principal Amount ($) | Value ($) | |
Minnesota 0.5% | ||||
City of Minneapolis/St. Paul Housing & Redevelopment Authority(a),(b) | ||||
Revenue Bonds | ||||
Allina Health Systems | ||||
Series 2009B-1 (JPMorgan Chase Bank) | ||||
11/15/2035 | 0.110% | 3,900,000 | 3,900,000 | |
New York 1.5% | ||||
City of New York(a),(b) | ||||
Unlimited General Obligation Bonds | ||||
Fiscal 2015 | ||||
Subordinated Series 2015 (JPMorgan Chase Bank) | ||||
06/01/2044 | 0.110% | 3,600,000 | 3,600,000 | |
New York City Transitional Finance Authority(a),(b) | ||||
Revenue Bonds | ||||
Future Tax Secured | ||||
Subordinated Series 2016 (JPMorgan Chase Bank) | ||||
02/01/2045 | 0.110% | 1,000,000 | 1,000,000 | |
New York City Water & Sewer System(a),(b) | ||||
Revenue Bonds | ||||
2nd General Resolution | ||||
Series 2013 (JPMorgan Chase Bank) | ||||
06/15/2050 | 0.110% | 5,145,000 | 5,145,000 | |
06/15/2050 | 0.110% | 1,050,000 | 1,050,000 | |
Total | 10,795,000 | |||
Total Floating Rate Notes (Cost $14,695,000) | 14,695,000 | |||
Municipal Bonds 86.1% | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Alabama 2.1% | ||||
Black Belt Energy Gas District | ||||
Revenue Bonds | ||||
Series 2017-A (Mandatory Put 07/01/22) | ||||
08/01/2047 | 4.000% | 2,500,000 | 2,636,025 | |
Series 2018A (Mandatory Put 12/01/23) | ||||
12/01/2048 | 4.000% | 4,970,000 | 5,414,169 | |
Black Belt Energy Gas District(c) | ||||
Revenue Bonds | ||||
Series 2018B-2 (Mandatory Put 12/01/23) | ||||
Muni Swap Index Yield + 0.620% 12/01/2048 | 0.740% | 5,000,000 | 5,005,300 | |
Industrial Development Board of the City of Mobile | ||||
Senior Revenue Bonds | ||||
Alabama Power Co. - Barry Plant Project | ||||
Series 2020 (Mandatory Put 06/26/25) | ||||
06/01/2034 | 1.000% | 1,150,000 | 1,151,794 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Southeast Alabama Gas Supply District (The) | ||||
Revenue Bonds | ||||
Project #2 | ||||
Series 2018A | ||||
06/01/2021 | 4.000% | 1,000,000 | 1,019,340 | |
Total | 15,226,628 | |||
Alaska 0.7% | ||||
Alaska Industrial Development & Export Authority | ||||
Refunding Revenue Bonds | ||||
Greater Fairbanks Community Hospital Foundation Project | ||||
Series 2019 | ||||
04/01/2023 | 5.000% | 1,870,000 | 2,059,973 | |
04/01/2024 | 5.000% | 1,800,000 | 2,050,326 | |
Alaska Municipal Bond Bank Authority | ||||
Refunding Revenue Bonds | ||||
Series 2020-1 | ||||
12/01/2022 | 5.000% | 700,000 | 762,916 | |
Total | 4,873,215 | |||
Arizona 1.7% | ||||
Arizona Industrial Development Authority | ||||
Revenue Bonds | ||||
Lincoln South Beltway Project | ||||
Series 2020 | ||||
02/01/2023 | 5.000% | 1,250,000 | 1,369,900 | |
05/01/2023 | 5.000% | 1,000,000 | 1,106,460 | |
Phoenix Children’s Hospital | ||||
Series 2020 | ||||
02/01/2026 | 5.000% | 550,000 | 671,935 | |
Chandler Industrial Development Authority(d) | ||||
Revenue Bonds | ||||
Intel Corp. | ||||
Series 2019 (Mandatory Put 06/03/24) | ||||
06/01/2049 | 5.000% | 1,450,000 | 1,665,340 | |
Coconino County Pollution Control Corp.(d) | ||||
Refunding Revenue Bonds | ||||
Nevada Power Co. | ||||
Series 2020 (Mandatory Put 03/31/23) | ||||
09/01/2032 | 1.875% | 1,500,000 | 1,509,075 | |
Maricopa County Industrial Development Authority(c) | ||||
Refunding Revenue Bonds | ||||
Banner Health Obligation | ||||
Series 2019 (Mandatory Put 10/18/24) | ||||
Muni Swap Index Yield + 0.570% 01/01/2035 | 0.690% | 1,465,000 | 1,457,587 |
6 | Columbia Short Term Municipal Bond Fund | Semiannual Report 2020 |
October 31, 2020 (Unaudited)
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Salt River Project Agricultural Improvement & Power District(e) | ||||
Refunding Revenue Bonds | ||||
Forward Delivery | ||||
Series 2021 | ||||
01/01/2024 | 5.000% | 4,250,000 | 4,674,915 | |
Total | 12,455,212 | |||
California 1.6% | ||||
California County Tobacco Securitization Agency | ||||
Refunding Revenue Bonds | ||||
Series 2020A | ||||
06/01/2022 | 4.000% | 300,000 | 316,968 | |
06/01/2023 | 4.000% | 400,000 | 436,244 | |
California Housing Finance | ||||
Revenue Bonds | ||||
Santa Ana Towers | ||||
Series 2020F (Mandatory Put 04/01/22) | ||||
04/01/2024 | 1.450% | 2,000,000 | 2,014,120 | |
California Municipal Finance Authority | ||||
Refunding Revenue Bonds | ||||
Community Medical Centers | ||||
Series 2017A | ||||
02/01/2036 | 5.000% | 1,745,000 | 2,026,294 | |
County of Riverside(d) | ||||
Revenue Bonds | ||||
Series 1989A Escrowed to Maturity (GNMA) | ||||
05/01/2021 | 7.800% | 1,500,000 | 1,553,160 | |
Palomar Health | ||||
Refunding Revenue Bonds | ||||
Series 2016 | ||||
11/01/2020 | 5.000% | 2,235,000 | 2,235,478 | |
San Francisco City & County Airport Commission - San Francisco International Airport(d) | ||||
Refunding Revenue Bonds | ||||
Series 2019H | ||||
05/01/2021 | 5.000% | 2,570,000 | 2,625,615 | |
Total | 11,207,879 | |||
Colorado 2.1% | ||||
City & County of Denver Airport System(d) | ||||
Refunding Revenue Bonds | ||||
Series 2017A | ||||
11/15/2030 | 5.000% | 1,925,000 | 2,339,433 | |
Series 2020B-1 | ||||
11/15/2021 | 5.000% | 3,015,000 | 3,152,092 | |
11/15/2022 | 5.000% | 3,160,000 | 3,434,509 | |
Colorado Health Facilities Authority | ||||
Refunding Revenue Bonds | ||||
CommonSpirit Health | ||||
Series 2019B (Mandatory Put 08/01/26) | ||||
08/01/2049 | 5.000% | 2,000,000 | 2,368,360 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
University of Colorado Hospital Authority | ||||
Revenue Bonds | ||||
Obligation Group | ||||
Series 2017 (Mandatory Put 03/01/22) | ||||
11/15/2038 | 5.000% | 3,650,000 | 3,773,078 | |
Total | 15,067,472 | |||
Connecticut 4.7% | ||||
City of Bridgeport | ||||
Unlimited General Obligation Refunding Bonds | ||||
Series 2017B | ||||
08/15/2026 | 5.000% | 3,250,000 | 3,895,580 | |
City of Waterbury | ||||
Unlimited General Obligation Bonds | ||||
Series 2017A | ||||
11/15/2020 | 4.000% | 350,000 | 350,553 | |
11/15/2021 | 5.000% | 500,000 | 523,905 | |
Unlimited General Obligation Refunding Bonds | ||||
Series 2017B | ||||
09/01/2021 | 5.000% | 425,000 | 441,282 | |
Connecticut Housing Finance Authority(d) | ||||
Refunding Revenue Bonds | ||||
Subordinated Series 2018A-2 | ||||
05/15/2021 | 2.150% | 1,595,000 | 1,605,575 | |
11/15/2021 | 2.250% | 1,625,000 | 1,647,490 | |
05/15/2022 | 2.375% | 1,460,000 | 1,491,375 | |
Revenue Bonds | ||||
Subordinated Series 2017C-2 | ||||
05/15/2021 | 3.000% | 2,680,000 | 2,708,435 | |
11/15/2021 | 3.000% | 4,435,000 | 4,482,055 | |
State of Connecticut | ||||
Revenue Bonds | ||||
Special Tax Obligation Bonds | ||||
Series 2020A | ||||
05/01/2022 | 5.000% | 400,000 | 427,948 | |
Unlimited General Obligation Bonds | ||||
Green Bonds | ||||
Series 2016F | ||||
10/15/2030 | 5.000% | 2,410,000 | 2,923,812 | |
Series 2012B | ||||
04/15/2027 | 5.000% | 3,000,000 | 3,187,200 | |
Series 2016E | ||||
10/15/2034 | 5.000% | 1,620,000 | 1,936,548 | |
Series 2020C | ||||
06/01/2023 | 4.000% | 400,000 | 436,980 | |
Series 2020E | ||||
09/15/2028 | 4.000% | 3,190,000 | 3,347,299 |
Columbia Short Term Municipal Bond Fund | Semiannual Report 2020 | 7 |
October 31, 2020 (Unaudited)
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
State of Connecticut Special Tax | ||||
Revenue Bonds | ||||
Series 2018B | ||||
10/01/2031 | 5.000% | 3,535,000 | 4,464,775 | |
Total | 33,870,812 | |||
District of Columbia 1.6% | ||||
District of Columbia | ||||
Revenue Bonds | ||||
Federal Highway Grant Anticipation | ||||
Series 2011 | ||||
12/01/2023 | 5.250% | 1,750,000 | 1,756,510 | |
District of Columbia Housing Finance Agency | ||||
Revenue Bonds | ||||
Series 2018B-1 (FHA) (Mandatory Put 03/01/22) | ||||
09/01/2023 | 2.550% | 5,175,000 | 5,313,379 | |
Metropolitan Washington Airports Authority(d) | ||||
Refunding Revenue Bonds | ||||
Series 2016A | ||||
10/01/2035 | 5.000% | 4,000,000 | 4,687,240 | |
Total | 11,757,129 | |||
Florida 2.2% | ||||
City of Jacksonville | ||||
Refunding Revenue Bonds | ||||
Brooks Rehabilitation | ||||
Series 2017 | ||||
11/01/2028 | 5.000% | 2,705,000 | 3,305,023 | |
City of Port St. Lucie | ||||
Special Assessment Refunding Revenue Bonds | ||||
Series 2016 | ||||
07/01/2026 | 2.250% | 1,750,000 | 1,891,208 | |
County of Broward Airport System(d) | ||||
Revenue Bonds | ||||
Series 2017 | ||||
10/01/2021 | 5.000% | 1,480,000 | 1,539,496 | |
County of Lee Solid Waste System(d) | ||||
Refunding Revenue Bonds | ||||
Series 2016 (NPFGC) | ||||
10/01/2022 | 5.000% | 3,100,000 | 3,329,214 | |
Florida Ports Financing Commission(d) | ||||
Refunding Revenue Bonds | ||||
Transportation Fund | ||||
Seris 2011B | ||||
06/01/2023 | 5.000% | 3,000,000 | 3,077,970 | |
Miami-Dade County Housing Finance Authority | ||||
Revenue Bonds | ||||
Series 2020 (Mandatory Put 04/01/22) | ||||
04/01/2023 | 1.400% | 1,000,000 | 1,007,650 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Seminole County Industrial Development Authority | ||||
Refunding Revenue Bonds | ||||
Legacy Pointe at UCF Project | ||||
Series 2019 | ||||
11/15/2025 | 3.750% | 2,000,000 | 1,867,100 | |
Total | 16,017,661 | |||
Georgia 3.4% | ||||
Burke County Development Authority | ||||
Refunding Revenue Bonds | ||||
Georgia Power Co. Plant Vogtle Project | ||||
Series 2015 (Mandatory Put 12/11/20) | ||||
10/01/2032 | 2.350% | 7,700,000 | 7,714,168 | |
Revenue Bonds | ||||
Georgia Power Co. Plant Vogtle Project | ||||
Series 2019 (Mandatory Put 05/25/23) | ||||
10/01/2032 | 2.250% | 1,000,000 | 1,035,340 | |
City of Atlanta | ||||
Refunding Tax Allocation Bonds | ||||
Atlantic Station Project | ||||
Series 2017 | ||||
12/01/2020 | 5.000% | 1,000,000 | 1,003,394 | |
Main Street Natural Gas, Inc. | ||||
Revenue Bonds | ||||
Series 2007A | ||||
03/15/2021 | 5.000% | 5,000,000 | 5,073,500 | |
Series 2019B (Mandatory Put 12/02/24) | ||||
08/01/2049 | 4.000% | 3,360,000 | 3,809,837 | |
Series 2019C | ||||
09/01/2024 | 5.000% | 1,500,000 | 1,736,775 | |
Monroe County Development Authority | ||||
Revenue Bonds | ||||
Georgia Power Co. Plant Scherer | ||||
Series 2015 (Mandatory Put 12/11/20) | ||||
10/01/2048 | 2.350% | 4,000,000 | 4,007,480 | |
Total | 24,380,494 | |||
Illinois 11.6% | ||||
Chicago Midway International Airport(d) | ||||
Refunding Revenue Bonds | ||||
2nd Lien | ||||
Series 2014A | ||||
01/01/2022 | 5.000% | 2,000,000 | 2,089,000 | |
Chicago O’Hare International Airport(d) | ||||
Refunding Revenue Bonds | ||||
General Senior Lien | ||||
Series 2012B | ||||
01/01/2022 | 5.000% | 5,000,000 | 5,263,750 | |
Series 2013A | ||||
01/01/2022 | 5.000% | 5,675,000 | 5,974,356 |
8 | Columbia Short Term Municipal Bond Fund | Semiannual Report 2020 |
October 31, 2020 (Unaudited)
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Series 2015A | ||||
01/01/2028 | 5.000% | 2,000,000 | 2,302,500 | |
Chicago Park District | ||||
Limited Tax General Obligation Refunding Bonds | ||||
Series 2014D | ||||
01/01/2021 | 5.000% | 1,000,000 | 1,005,730 | |
City of Chicago | ||||
Unlimited General Obligation Notes | ||||
Series 2015A Escrowed to Maturity | ||||
01/01/2021 | 5.000% | 5,000,000 | 5,038,050 | |
Unlimited General Obligation Refunding Bonds | ||||
Project | ||||
Series 2014A Escrowed to Maturity | ||||
01/01/2021 | 5.000% | 4,875,000 | 4,912,489 | |
City of Chicago Wastewater Transmission | ||||
Refunding Revenue Bonds | ||||
2nd Lien | ||||
Series 2008 | ||||
01/01/2024 | 5.000% | 2,200,000 | 2,473,944 | |
Series 2015C | ||||
01/01/2021 | 5.000% | 1,000,000 | 1,006,880 | |
Revenue Bonds | ||||
2nd Lien | ||||
Series 2014 | ||||
01/01/2021 | 3.000% | 1,795,000 | 1,801,588 | |
City of Chicago Waterworks | ||||
Refunding Revenue Bonds | ||||
2nd Lien | ||||
Series 2016 | ||||
11/01/2020 | 5.000% | 5,000,000 | 5,001,180 | |
11/01/2021 | 5.000% | 2,115,000 | 2,204,761 | |
Series 2016 | ||||
11/01/2022 | 5.000% | 3,220,000 | 3,473,060 | |
Revenue Bonds | ||||
2nd Lien | ||||
Series 2012 | ||||
11/01/2021 | 4.000% | 1,500,000 | 1,548,810 | |
City of Granite City(d) | ||||
Revenue Bonds | ||||
Waste Management, Inc. Project | ||||
Series 2019 (Mandatory Put 05/03/21) | ||||
05/01/2027 | 2.450% | 2,500,000 | 2,521,300 | |
Cook County Community College District No. 535 Oakton | ||||
Limited General Obligation Bonds | ||||
Limited Tax | ||||
Series 2014 | ||||
12/01/2027 | 4.000% | 1,480,000 | 1,688,192 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
DeKalb County Community Unit School District No. 424 Genoa-Kingston(f) | ||||
Unlimited General Obligation Bonds | ||||
Capital Appreciation | ||||
Series 2001 (AMBAC) | ||||
01/01/2021 | 0.000% | 1,500,000 | 1,497,945 | |
Illinois Development Finance Authority(f) | ||||
Revenue Bonds | ||||
Zero Regency Park | ||||
Series 1991 Escrowed to Maturity | ||||
07/15/2023 | 0.000% | 2,395,000 | 2,362,931 | |
Illinois Finance Authority | ||||
Refunding Revenue Bonds | ||||
American Water Capital Corp. Project | ||||
Series 2020 (Mandatory Put 09/01/23) | ||||
05/01/2040 | 0.700% | 2,000,000 | 1,993,640 | |
Swedish Covenant Hospital | ||||
Series 2016 Escrowed to Maturity | ||||
08/15/2021 | 5.000% | 455,000 | 471,899 | |
Revenue Bonds | ||||
Loyola University of Chicago | ||||
Series 2012B | ||||
07/01/2025 | 5.000% | 1,500,000 | 1,604,730 | |
Illinois Finance Authority(c) | ||||
Refunding Revenue Bonds | ||||
Presbyterian Home | ||||
Series 2016 (Mandatory Put 05/01/21) | ||||
0.7 x 1-month USD LIBOR + 1.350% 05/01/2036 | 1.454% | 2,400,000 | 2,400,192 | |
Kane Cook & DuPage Counties School District No. U-46 Elgin(f) | ||||
Unrefunded Unlimited General Obligation Bonds | ||||
Series 2003B (AMBAC) | ||||
01/01/2023 | 0.000% | 2,000,000 | 1,968,800 | |
Kendall Kane & Will Counties Community Unit School District No. 308(f) | ||||
Unlimited General Obligation Bonds | ||||
Capital Appreciation-School | ||||
Series 2018 (AGM) | ||||
02/01/2022 | 0.000% | 1,950,000 | 1,933,249 | |
Kendall Kane & Will Counties Community Unit School District No. 308 | ||||
Unlimited General Obligation Refunding Bonds | ||||
Series 2011A | ||||
02/01/2023 | 5.500% | 2,000,000 | 2,205,840 | |
Regional Transportation Authority | ||||
Revenue Bonds | ||||
Series 2016A | ||||
06/01/2031 | 5.000% | 1,785,000 | 2,117,510 | |
Series 2018B | ||||
06/01/2033 | 5.000% | 1,815,000 | 2,266,753 | |
State of Illinois | ||||
Unlimited General Obligation Bonds | ||||
Series 2013CR (AGM) | ||||
04/01/2021 | 5.000% | 7,180,000 | 7,298,685 |
Columbia Short Term Municipal Bond Fund | Semiannual Report 2020 | 9 |
October 31, 2020 (Unaudited)
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Series 2020C | ||||
05/01/2022 | 5.125% | 500,000 | 523,750 | |
05/01/2023 | 5.375% | 250,000 | 267,565 | |
Series 2020D | ||||
10/01/2024 | 5.000% | 2,000,000 | 2,164,300 | |
Unlimited General Obligation Refunding Bonds | ||||
Series 2018A | ||||
10/01/2021 | 5.000% | 2,000,000 | 2,062,340 | |
University of Illinois | ||||
Refunding Revenue Bonds | ||||
Auxiliary Facilities System | ||||
Series 2013A | ||||
04/01/2026 | 5.000% | 2,000,000 | 2,180,220 | |
Total | 83,625,939 | |||
Indiana 2.9% | ||||
City of Whiting(d) | ||||
Refunding Revenue Bonds | ||||
BP Products North America | ||||
Series 2019 (Mandatory Put 06/05/26) | ||||
12/01/2044 | 5.000% | 4,200,000 | 5,110,896 | |
Elkhart County Corrections Complex Building Corp. | ||||
Refunding Revenue Bonds | ||||
1st Mortgage | ||||
Series 2015 | ||||
12/01/2025 | 4.000% | 2,505,000 | 2,885,560 | |
Indiana Finance Authority(c) | ||||
Revenue Bonds | ||||
Indiana University Health | ||||
Series 2011M (Mandatory Put 07/02/21) | ||||
Muni Swap Index Yield + 0.550% 03/01/2036 | 0.400% | 5,365,000 | 5,358,830 | |
Indiana Health & Educational Facilities Financing Authority | ||||
Prerefunded 11/02/2021 Revenue Bonds | ||||
Ascension Health Alliance | ||||
Series 2006B-3 (Mandatory Put 11/02/21) | ||||
11/15/2031 | 1.750% | 70,000 | 70,946 | |
Unrefunded Revenue Bonds | ||||
Ascension Health Alliance | ||||
Series 2006B-3 (Mandatory Put 11/02/21) | ||||
11/15/2031 | 1.750% | 4,610,000 | 4,673,249 | |
Indiana Housing & Community Development Authority(d) | ||||
Refunding Revenue Bonds | ||||
Series 2017A-2 (GNMA) | ||||
01/01/2039 | 4.000% | 1,090,000 | 1,141,067 | |
Series 2020B-2 (GNMA) | ||||
GINNIE MAE | ||||
01/01/2022 | 5.000% | 1,555,000 | 1,635,658 | |
Total | 20,876,206 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Iowa 0.4% | ||||
Iowa Student Loan Liquidity Corp.(d) | ||||
Refunding Revenue Bonds | ||||
Series 2019B | ||||
12/01/2022 | 5.000% | 400,000 | 423,892 | |
12/01/2023 | 5.000% | 580,000 | 630,646 | |
Revenue Bonds | ||||
Series 2015A | ||||
12/01/2022 | 5.000% | 2,000,000 | 2,119,460 | |
Total | 3,173,998 | |||
Kentucky 1.7% | ||||
County of Owen | ||||
Refunding Revenue Bonds | ||||
Kentucky-American Water Co. Project | ||||
Series 2020 (Mandatory Put 09/01/23) | ||||
06/01/2040 | 0.700% | 1,250,000 | 1,245,337 | |
Kenton County School District Finance Corp. | ||||
Refunding Revenue Bonds | ||||
Series 2015B | ||||
10/01/2025 | 3.000% | 1,995,000 | 2,163,099 | |
Kentucky Economic Development Finance Authority | ||||
Refunding Revenue Bonds | ||||
Owensboro Health System | ||||
Series 2017A | ||||
06/01/2021 | 5.000% | 1,000,000 | 1,016,140 | |
06/01/2022 | 5.000% | 1,000,000 | 1,043,490 | |
Kentucky Public Energy Authority | ||||
Revenue Bonds | ||||
Gas Supply | ||||
Series 2018 | ||||
12/01/2020 | 4.000% | 1,070,000 | 1,073,020 | |
06/01/2021 | 4.000% | 1,065,000 | 1,085,597 | |
Kentucky State Property & Building Commission | ||||
Refunding Revenue Bonds | ||||
Project #112 | ||||
Series 2016B | ||||
11/01/2021 | 5.000% | 3,000,000 | 3,136,200 | |
Louisville Regional Airport Authority(d) | ||||
Refunding Revenue Bonds | ||||
Series 2014-A | ||||
07/01/2022 | 5.000% | 1,625,000 | 1,734,866 | |
Total | 12,497,749 | |||
Louisiana 0.1% | ||||
Louisiana Offshore Terminal Authority | ||||
Refunding Revenue Bonds | ||||
Loop LLC Project | ||||
Series 2019 (Mandatory Put 12/01/23) | ||||
09/01/2027 | 1.650% | 1,000,000 | 1,002,180 |
10 | Columbia Short Term Municipal Bond Fund | Semiannual Report 2020 |
October 31, 2020 (Unaudited)
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Maine 0.2% | ||||
Maine Health & Higher Educational Facilities Authority | ||||
Revenue Bonds | ||||
MaineHealth | ||||
Series 2020A | ||||
07/01/2026 | 5.000% | 400,000 | 490,572 | |
07/01/2027 | 5.000% | 600,000 | 748,494 | |
Total | 1,239,066 | |||
Maryland 0.3% | ||||
Maryland Community Development Administration | ||||
Refunding Revenue Bonds | ||||
Series 2019B | ||||
09/01/2034 | 3.000% | 620,000 | 659,364 | |
Maryland Health & Higher Educational Facilities Authority | ||||
Refunding Revenue Bonds | ||||
University of Maryland Medical System | ||||
Series 2020 (Mandatory Put 07/01/25) | ||||
07/01/2045 | 5.000% | 1,500,000 | 1,757,490 | |
Total | 2,416,854 | |||
Massachusetts 2.4% | ||||
Brockton Area Transit Authority | ||||
Revenue Notes | ||||
RAN Series 2020 | ||||
07/30/2021 | 1.500% | 3,050,000 | 3,069,215 | |
City of Greenfield | ||||
General Obligations Notes | ||||
BAN Series 2020 | ||||
10/01/2021 | 1.500% | 4,903,820 | 4,948,494 | |
Massachusetts Educational Financing Authority(d) | ||||
Refunding Revenue Bonds | ||||
Issue K | ||||
Series 2017A | ||||
07/01/2021 | 4.000% | 1,000,000 | 1,018,440 | |
Series 2018B | ||||
07/01/2021 | 5.000% | 1,150,000 | 1,178,750 | |
Revenue Bonds | ||||
Series 2015A | ||||
01/01/2022 | 5.000% | 3,500,000 | 3,650,220 | |
Senior Revenue Bonds | ||||
Series 2019B | ||||
07/01/2023 | 5.000% | 500,000 | 545,850 | |
Massachusetts Housing Finance Agency(d) | ||||
Refunding Revenue Bonds | ||||
Single Family | ||||
Series 2017-188 | ||||
06/01/2021 | 1.800% | 685,000 | 688,939 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Massachusetts Housing Finance Agency | ||||
Revenue Bonds | ||||
Construction Loan Notes | ||||
Series 2017B | ||||
12/01/2021 | 2.050% | 1,015,000 | 1,015,639 | |
Massachusetts Port Authority(d) | ||||
Refunding Revenue Bonds | ||||
BosFuel Project | ||||
Series 2019A | ||||
07/01/2026 | 5.000% | 885,000 | 1,054,106 | |
Total | 17,169,653 | |||
Michigan 0.8% | ||||
Michigan Finance Authority(d) | ||||
Refunding Revenue Bonds | ||||
Student Loan | ||||
Series 2014-25A | ||||
11/01/2023 | 3.500% | 3,165,000 | 3,261,438 | |
Wayne County Airport Authority(d) | ||||
Refunding Revenue Bonds | ||||
Junior Lien | ||||
Series 2017B | ||||
12/01/2021 | 5.000% | 1,000,000 | 1,048,860 | |
12/01/2022 | 5.000% | 1,100,000 | 1,190,530 | |
Total | 5,500,828 | |||
Minnesota 0.9% | ||||
City of Maple Grove | ||||
Refunding Revenue Bonds | ||||
Maple Grove Hospital Corp. | ||||
Series 2017 | ||||
05/01/2021 | 4.000% | 500,000 | 506,655 | |
05/01/2022 | 4.000% | 500,000 | 519,690 | |
City of Wayzata | ||||
Refunding Revenue Bonds | ||||
Folkstone Senior Living Co. | ||||
Series 2019 | ||||
08/01/2022 | 3.000% | 100,000 | 99,560 | |
08/01/2023 | 3.000% | 200,000 | 198,070 | |
08/01/2024 | 3.000% | 100,000 | 98,740 | |
08/01/2025 | 3.000% | 200,000 | 196,430 | |
08/01/2026 | 3.000% | 250,000 | 244,048 | |
Duluth Independent School District No. 709 | ||||
Refunding Certificate of Participation | ||||
School District Credit Enhancement Project | ||||
Series 2019B | ||||
02/01/2022 | 5.000% | 965,000 | 1,015,074 | |
Hastings Independent School District No. 200(f) | ||||
Unlimited General Obligation Bonds | ||||
Student Credit Enhancement Program School Building | ||||
Series 2018A | ||||
02/01/2023 | 0.000% | 800,000 | 788,616 |
Columbia Short Term Municipal Bond Fund | Semiannual Report 2020 | 11 |
October 31, 2020 (Unaudited)
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Minnesota Housing Finance Agency(d) | ||||
Refunding Revenue Bonds | ||||
Residential Housing | ||||
Series 2017D (GNMA) | ||||
01/01/2021 | 2.200% | 995,000 | 997,199 | |
Revenue Bonds | ||||
Series 2020A | ||||
07/01/2022 | 1.300% | 225,000 | 227,180 | |
07/01/2023 | 1.350% | 275,000 | 279,174 | |
Series 2020A (GNMA) | ||||
07/01/2021 | 1.150% | 460,000 | 461,362 | |
07/01/2024 | 1.450% | 180,000 | 184,081 | |
Series 2020D (GNMA) | ||||
07/01/2026 | 1.650% | 485,000 | 488,152 | |
Total | 6,304,031 | |||
Mississippi 0.1% | ||||
County of Warren(d) | ||||
Refunding Revenue Bonds | ||||
International Paper Co. Project | ||||
Series 2020 (Mandatory Put 06/16/25) | ||||
08/01/2027 | 1.600% | 1,000,000 | 1,026,560 | |
Missouri 1.1% | ||||
Cape Girardeau County Industrial Development Authority | ||||
Refunding Revenue Bonds | ||||
SoutheastHEALTH | ||||
Series 2017 | ||||
03/01/2021 | 5.000% | 400,000 | 403,832 | |
Health & Educational Facilities Authority of the State of Missouri | ||||
Refunding Revenue Bonds | ||||
CoxHealth | ||||
Series 2015A | ||||
11/15/2033 | 5.000% | 5,000,000 | 5,784,900 | |
Joplin Industrial Development Authority | ||||
Refunding Revenue Bonds | ||||
Freeman Health System | ||||
Series 2015 | ||||
02/15/2035 | 5.000% | 1,820,000 | 1,997,050 | |
Total | 8,185,782 | |||
Nebraska 0.4% | ||||
Douglas County Hospital Authority No. 2 | ||||
Revenue Bonds | ||||
Children’s Hospital Obligated Group | ||||
Series 2020 (Mandatory Put 11/15/25) | ||||
11/15/2053 | 5.000% | 1,000,000 | 1,191,630 | |
Nebraska Investment Finance Authority | ||||
Revenue Bonds | ||||
Series 2018C | ||||
09/01/2023 | 2.250% | 1,920,000 | 1,998,010 | |
Total | 3,189,640 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Nevada 1.8% | ||||
Clark County School District | ||||
Limited General Obligation Bonds | ||||
Series 2020A (AGM) | ||||
06/15/2026 | 5.000% | 500,000 | 611,955 | |
County of Clark | ||||
Limited General Obligation Bonds | ||||
Flood Control | ||||
11/01/2026 | 5.000% | 2,000,000 | 2,371,200 | |
County of Clark Department of Aviation(d) | ||||
Refunding Revenue Bonds | ||||
Airport System Junior Subordinated Lien | ||||
Series 2017C | ||||
07/01/2021 | 5.000% | 4,625,000 | 4,753,714 | |
Las Vegas McCarran International Airport | ||||
Series 2017 | ||||
07/01/2022 | 5.000% | 2,240,000 | 2,397,606 | |
Subordinated Series 2017A-1 | ||||
07/01/2022 | 5.000% | 3,000,000 | 3,211,080 | |
Total | 13,345,555 | |||
New Hampshire 0.8% | ||||
New Hampshire Business Finance Authority(c),(d) | ||||
Refunding Revenue Bonds | ||||
Waste Management, Inc. Project | ||||
Series 2018 (Mandatory Put 10/01/21) | ||||
Muni Swap Index Yield + 0.750% 10/01/2033 | 0.870% | 5,000,000 | 5,000,450 | |
New Hampshire Business Finance Authority(d) | ||||
Refunding Revenue Bonds | ||||
Waste Management, Inc. Project | ||||
Series 2019 (Mandatory Put 07/01/24) | ||||
07/01/2027 | 2.150% | 1,000,000 | 1,035,420 | |
Total | 6,035,870 | |||
New Jersey 6.9% | ||||
City of Atlantic City | ||||
Unlimited General Obligation Bonds | ||||
Tax Appeal | ||||
Series 2017B (AGM) | ||||
03/01/2021 | 5.000% | 650,000 | 659,087 | |
03/01/2022 | 5.000% | 500,000 | 527,950 | |
City of Newark | ||||
Unlimited General Obligation Refunding Bonds | ||||
School Bond Reserve Fund | ||||
Series 2020B | ||||
10/01/2021 | 5.000% | 200,000 | 207,590 | |
10/01/2022 | 5.000% | 400,000 | 431,400 |
12 | Columbia Short Term Municipal Bond Fund | Semiannual Report 2020 |
October 31, 2020 (Unaudited)
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Garden State Preservation Trust(f) | ||||
Revenue Bonds | ||||
Capital Appreciation | ||||
Series 2003B (AGM) | ||||
11/01/2022 | 0.000% | 5,000,000 | 4,904,650 | |
New Jersey Economic Development Authority(d) | ||||
Refunding Revenue Bonds | ||||
American Water Co. | ||||
Series 2020B (Mandatory Put 06/01/2023) | ||||
11/01/2034 | 1.200% | 3,000,000 | 3,039,630 | |
New Jersey Economic Development Authority | ||||
Refunding Revenue Bonds | ||||
School Facilities Construction | ||||
Series 2013 | ||||
03/01/2023 | 5.000% | 2,520,000 | 2,745,691 | |
Series 2015XX | ||||
06/15/2026 | 4.250% | 2,355,000 | 2,563,936 | |
Series 2017B | ||||
11/01/2022 | 5.000% | 2,285,000 | 2,471,662 | |
New Jersey Health Care Facilities Financing Authority | ||||
Refunding Revenue Bonds | ||||
Hospital Asset Transformation Program | ||||
Series 2017 | ||||
10/01/2031 | 5.000% | 2,000,000 | 2,223,080 | |
New Jersey Higher Education Student Assistance Authority(d) | ||||
Refunding Revenue Bonds | ||||
Series 2018B | ||||
12/01/2020 | 5.000% | 1,500,000 | 1,504,831 | |
Series 2020A | ||||
12/01/2022 | 5.000% | 1,000,000 | 1,084,460 | |
Revenue Bonds | ||||
Series 2015-1A | ||||
12/01/2027 | 4.000% | 3,435,000 | 3,666,553 | |
Series 2016-1A | ||||
12/01/2020 | 5.000% | 1,250,000 | 1,254,026 | |
Series 2017-1A | ||||
12/01/2023 | 5.000% | 2,100,000 | 2,350,761 | |
Series 2020B | ||||
12/01/2022 | 5.000% | 1,150,000 | 1,247,129 | |
New Jersey Higher Education Student Assistance Authority | ||||
Refunding Revenue Bonds | ||||
Series 2019A | ||||
12/01/2029 | 2.375% | 1,000,000 | 991,060 | |
New Jersey Housing & Mortgage Finance Agency | ||||
Refunding Revenue Bonds | ||||
Series 2017B | ||||
05/01/2021 | 2.000% | 7,675,000 | 7,729,109 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
New Jersey Housing & Mortgage Finance Agency(d) | ||||
Refunding Revenue Bonds | ||||
Series 2020F (HUD) | ||||
04/01/2026 | 1.500% | 3,745,000 | 3,739,757 | |
New Jersey Transportation Trust Fund Authority | ||||
Refunding Revenue Bonds | ||||
Federal Highway Reimbursement | ||||
Series 2018 | ||||
06/15/2022 | 5.000% | 3,000,000 | 3,175,470 | |
Revenue Bonds | ||||
Transportation System | ||||
Series 2006A (AGM) | ||||
12/15/2020 | 5.250% | 2,360,000 | 2,373,312 | |
Tobacco Settlement Financing Corp. | ||||
Refunding Revenue Bonds | ||||
Series 2018A | ||||
06/01/2022 | 5.000% | 1,000,000 | 1,069,400 | |
Total | 49,960,544 | |||
New Mexico 0.7% | ||||
City of Farmington(d) | ||||
Refunding Revenue Bonds | ||||
Public Service Co. of New Mexico San Juan Project | ||||
Series 2020 (Mandatory Put 06/01/22) | ||||
06/01/2040 | 1.200% | 1,500,000 | 1,506,240 | |
City of Farmington | ||||
Refunding Revenue Bonds | ||||
Public Service Co. of New Mexico San Juan Project | ||||
Series 2020 (Mandatory Put 06/01/23) | ||||
06/01/2040 | 1.100% | 1,500,000 | 1,504,050 | |
Series 2020 (Mandatory Put 06/01/24) | ||||
06/01/2040 | 1.150% | 2,000,000 | 2,006,060 | |
Total | 5,016,350 | |||
New York 11.6% | ||||
Board of Cooperative Educational Services for the Sole Supervisory District | ||||
Revenue Notes | ||||
RAN Series 2020 | ||||
06/23/2021 | 2.000% | 5,000,000 | 5,052,200 | |
Chautauqua County Capital Resource Corp. | ||||
Refunding Revenue Bonds | ||||
NRG Energy Project | ||||
Series 2020 (Mandatory Put 04/03/23) | ||||
04/01/2042 | 1.300% | 5,000,000 | 4,969,750 | |
City of New York | ||||
Limited General Obligation Refunding Bonds | ||||
Series 2012F | ||||
08/01/2028 | 5.000% | 3,710,000 | 3,903,254 | |
Cortland Enlarged City School District | ||||
Unlimited General Obligation Bonds | ||||
RAN Series 2020 | ||||
07/30/2021 | 1.500% | 4,000,000 | 4,024,880 |
Columbia Short Term Municipal Bond Fund | Semiannual Report 2020 | 13 |
October 31, 2020 (Unaudited)
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Fulton City School District | ||||
Unlimited General Obligation Notes | ||||
BAN Series 2020 | ||||
11/05/2021 | 1.500% | 6,000,000 | 6,059,160 | |
Holland Central School District | ||||
Unlimited General Obligation Notes | ||||
BAN Series 2020 | ||||
06/24/2021 | 1.750% | 5,535,000 | 5,564,059 | |
Housing Development Corp. | ||||
Revenue Bonds | ||||
Series 2017C-2 | ||||
07/01/2021 | 1.700% | 3,000,000 | 3,003,990 | |
Sustainable Neighborhood | ||||
Series 2017G (Mandatory Put 12/31/21) | ||||
11/01/2057 | 2.000% | 3,000,000 | 3,001,410 | |
Hudson Yards Infrastructure Corp. | ||||
Refunding Revenue Bonds | ||||
Series 2020A | ||||
02/15/2026 | 5.000% | 1,890,000 | 2,262,349 | |
Little Falls City School District | ||||
Unlimited General Obligation Notes | ||||
BAN Series 2020 | ||||
02/05/2021 | 1.750% | 5,800,000 | 5,815,950 | |
Metropolitan Transportation Authority | ||||
Revenue Bonds | ||||
BAN Series 2019B-1 | ||||
05/15/2022 | 5.000% | 2,000,000 | 2,028,540 | |
BAN Subordinated Series 2020B-2B | ||||
05/15/2021 | 5.000% | 4,000,000 | 4,029,280 | |
Series 2020A-1 | ||||
02/01/2023 | 5.000% | 5,000,000 | 5,084,400 | |
New York City Transitional Finance Authority | ||||
Revenue Bonds | ||||
Building Aid | ||||
Subordinated Series 2015S | ||||
07/15/2027 | 5.000% | 2,090,000 | 2,468,938 | |
Future Tax Subordinated Bonds | ||||
Subordinated Series 2015B | ||||
08/01/2028 | 5.000% | 4,830,000 | 5,605,553 | |
New York State Urban Development Corp. | ||||
Revenue Bonds | ||||
St Peters Income Tax | ||||
Series 2020A | ||||
03/15/2026 | 5.000% | 2,040,000 | 2,073,946 | |
Port Authority of New York & New Jersey(d) | ||||
Revenue Bonds | ||||
Series 2011-106 | ||||
10/15/2021 | 5.000% | 2,250,000 | 2,343,847 | |
Series 2013-178 | ||||
12/01/2025 | 5.000% | 1,975,000 | 2,219,801 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
State of New York Mortgage Agency(d) | ||||
Refunding Revenue Bonds | ||||
Series 2014-189 | ||||
04/01/2021 | 2.450% | 1,000,000 | 1,006,880 | |
Series 2017-206 | ||||
04/01/2021 | 1.700% | 1,730,000 | 1,737,231 | |
10/01/2021 | 1.800% | 1,165,000 | 1,176,825 | |
04/01/2022 | 1.950% | 1,300,000 | 1,321,164 | |
Revenue Bonds | ||||
55th Series 2017 | ||||
04/01/2021 | 1.950% | 1,815,000 | 1,824,438 | |
10/01/2021 | 2.050% | 505,000 | 511,272 | |
Town of Oyster Bay | ||||
Limited General Obligation Refunding Bonds | ||||
Series 2020 (BAM) | ||||
11/01/2025 | 4.000% | 750,000 | 871,440 | |
Village of Cooperstown | ||||
Limited General Obligation Notes | ||||
BAN Series 2020 | ||||
01/28/2021 | 1.750% | 5,800,000 | 5,812,122 | |
Total | 83,772,679 | |||
North Carolina 1.2% | ||||
Columbus County Industrial Facilities & Pollution Control Financing Authority(d),(g) | ||||
Refunding Revenue Bonds | ||||
International Paper Co. Project | ||||
Series 2019 (Mandatory Put 10/01/24) | ||||
03/01/2027 | 2.100% | 2,750,000 | 2,868,965 | |
North Carolina Turnpike Authority | ||||
Refunding Revenue Bonds | ||||
Senior Lien | ||||
Series 2017 | ||||
01/01/2025 | 5.000% | 1,500,000 | 1,744,770 | |
Series 2018 | ||||
01/01/2025 | 5.000% | 1,110,000 | 1,291,130 | |
Revenue Bonds | ||||
BAN Series 2020 | ||||
02/01/2024 | 5.000% | 1,500,000 | 1,694,655 | |
North Carolina Turnpike Authority(f) | ||||
Refunding Revenue Bonds | ||||
Series 2016C | ||||
07/01/2026 | 0.000% | 780,000 | 693,014 | |
Total | 8,292,534 | |||
North Dakota 0.1% | ||||
North Dakota Housing Finance Agency | ||||
Refunding Revenue Bonds | ||||
Housing and Home Mortgage Finance Program | ||||
Series 2017 | ||||
01/01/2021 | 1.950% | 645,000 | 645,000 |
14 | Columbia Short Term Municipal Bond Fund | Semiannual Report 2020 |
October 31, 2020 (Unaudited)
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Ohio 1.8% | ||||
City of Cleveland Airport System(d) | ||||
Refunding Revenue Bonds | ||||
Series 2019B | ||||
01/01/2024 | 5.000% | 1,200,000 | 1,346,628 | |
County of Cuyahoga | ||||
Revenue Bonds | ||||
Medical Mart/Convention Center Project | ||||
Series 2010F | ||||
12/01/2022 | 5.000% | 1,315,000 | 1,319,892 | |
Hillsdale Local School District | ||||
Certificate of Participation | ||||
Ohio School Facilities Project | ||||
Series 2020 (BAM) | ||||
12/01/2021 | 4.000% | 500,000 | 518,730 | |
12/01/2022 | 4.000% | 600,000 | 641,304 | |
12/01/2023 | 4.000% | 670,000 | 737,918 | |
Ohio Air Quality Development Authority(d) | ||||
Refunding Revenue Bonds | ||||
American Electric Power Co. Project | ||||
Series 2019 (Mandatory Put 10/01/24) | ||||
07/01/2028 | 2.100% | 6,000,000 | 6,198,480 | |
Ohio Housing Finance Agency | ||||
Refunding Revenue Bonds | ||||
Housing and Urban Development Corp., Ltd. | ||||
Series 2018A | ||||
04/01/2021 | 3.000% | 2,110,000 | 2,130,572 | |
Total | 12,893,524 | |||
Oklahoma 0.6% | ||||
Oklahoma Development Finance Authority(d) | ||||
Revenue Bonds | ||||
Gilcrease Expressway West Project | ||||
Series 2020 | ||||
07/06/2023 | 1.625% | 4,000,000 | 3,985,640 | |
Oregon 0.6% | ||||
County of Gilliam(d) | ||||
Revenue Bonds | ||||
Waste Management, Inc. Project | ||||
Series 2019A (Mandatory Put 05/02/22) | ||||
08/01/2025 | 2.400% | 1,000,000 | 1,006,150 | |
Medford Hospital Facilities Authority | ||||
Refunding Revenue Bonds | ||||
Asante Project | ||||
Series 2020A | ||||
08/15/2025 | 5.000% | 465,000 | 559,297 | |
08/15/2026 | 5.000% | 300,000 | 368,955 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Oregon State Business Development Commission(d) | ||||
Revenue Bonds | ||||
Intel Corp. Project | ||||
Series 250 (Mandatory Put 03/01/2022) | ||||
03/01/2049 | 5.000% | 2,500,000 | 2,634,950 | |
Total | 4,569,352 | |||
Pennsylvania 4.2% | ||||
City of Philadelphia Airport(d) | ||||
Refunding Revenue Bonds | ||||
Series 2011A | ||||
06/15/2023 | 5.000% | 1,540,000 | 1,579,501 | |
Series 2017B | ||||
07/01/2022 | 5.000% | 500,000 | 536,565 | |
Pennsylvania Economic Development Financing Authority | ||||
Refunding Revenue Bonds | ||||
Philadelphia Biosolids Facility Project | ||||
Series 2020 | ||||
01/01/2022 | 3.000% | 725,000 | 740,247 | |
Senior Revenue Bonds | ||||
UPMC | ||||
Series 2015B | ||||
03/15/2026 | 5.000% | 1,845,000 | 2,210,273 | |
Pennsylvania Economic Development Financing Authority(d) | ||||
Revenue Bonds | ||||
PA Bridges Finco LP | ||||
Series 2015 | ||||
12/31/2021 | 5.000% | 1,170,000 | 1,221,515 | |
06/30/2022 | 5.000% | 5,000,000 | 5,304,150 | |
Pennsylvania Housing Finance Agency(d) | ||||
Refunding Revenue Bonds | ||||
Series 2017-124A | ||||
04/01/2021 | 1.650% | 1,000,000 | 1,003,400 | |
10/01/2021 | 1.750% | 725,000 | 730,974 | |
Pennsylvania Housing Finance Agency | ||||
Revenue Bonds | ||||
Series 2019-129 | ||||
10/01/2034 | 2.950% | 1,500,000 | 1,583,715 | |
Series 2020-132A | ||||
04/01/2026 | 1.450% | 1,400,000 | 1,416,296 | |
10/01/2026 | 1.500% | 1,500,000 | 1,515,960 | |
Pennsylvania Turnpike Commission(c) | ||||
Refunding Revenue Bonds | ||||
Series 2018A-1 | ||||
Muni Swap Index Yield + 0.600% 12/01/2023 | 0.720% | 5,000,000 | 5,028,900 | |
Pennsylvania Turnpike Commission | ||||
Refunding Revenue Bonds | ||||
Subordinated Series 2017B-2 | ||||
06/01/2031 | 5.000% | 1,000,000 | 1,208,740 | |
Subordinated Series 2017B-2 (AGM) | ||||
06/01/2035 | 5.000% | 2,275,000 | 2,771,405 |
Columbia Short Term Municipal Bond Fund | Semiannual Report 2020 | 15 |
October 31, 2020 (Unaudited)
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Quakertown General Authority | ||||
Refunding Revenue Bonds | ||||
USDA Loan Anticipation Notes | ||||
Series 2017 | ||||
07/01/2021 | 3.125% | 2,500,000 | 2,460,425 | |
School District of Philadelphia (The) | ||||
Limited General Obligation Bonds | ||||
Series 2018A | ||||
09/01/2022 | 5.000% | 560,000 | 603,865 | |
09/01/2023 | 5.000% | 450,000 | 504,166 | |
Total | 30,420,097 | |||
Puerto Rico 0.8% | ||||
Puerto Rico Housing Finance Authority(h) | ||||
Refunding Revenue Bonds | ||||
Public Housing Project | ||||
Series 2020 | ||||
12/01/2022 | 5.000% | 2,500,000 | 2,720,350 | |
12/01/2023 | 5.000% | 2,500,000 | 2,822,900 | |
Total | 5,543,250 | |||
Rhode Island 1.2% | ||||
Rhode Island Commerce Corp. | ||||
Revenue Bonds | ||||
Department of Transportation | ||||
Series 2020A | ||||
05/15/2025 | 5.000% | 1,000,000 | 1,195,550 | |
Rhode Island Housing & Mortgage Finance Corp.(d) | ||||
Refunding Revenue Bonds | ||||
Homeownership Opportunity | ||||
Series 2016 | ||||
04/01/2026 | 2.600% | 1,235,000 | 1,311,323 | |
10/01/2026 | 2.650% | 1,575,000 | 1,669,468 | |
Rhode Island Student Loan Authority(d) | ||||
Refunding Revenue Bonds | ||||
Series 2018A | ||||
12/01/2022 | 5.000% | 1,300,000 | 1,382,849 | |
Revenue Bonds | ||||
Senior Program | ||||
Series 2019A | ||||
12/01/2023 | 5.000% | 650,000 | 710,626 | |
12/01/2024 | 5.000% | 875,000 | 982,301 | |
12/01/2035 | 2.875% | 1,375,000 | 1,345,479 | |
Total | 8,597,596 | |||
South Carolina 0.5% | ||||
Laurens County Water & Sewer Commission | ||||
Revenue Bonds | ||||
BAN Series 2020 | ||||
02/01/2022 | 1.375% | 2,000,000 | 2,012,860 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
South Carolina State Housing Finance & Development Authority | ||||
Revenue Bonds | ||||
Series 2020A | ||||
01/01/2024 | 1.500% | 1,090,000 | 1,113,806 | |
07/01/2024 | 1.550% | 575,000 | 590,312 | |
Total | 3,716,978 | |||
Tennessee 0.4% | ||||
Memphis-Shelby County Airport Authority(d) | ||||
Refunding Revenue Bonds | ||||
Series 2020B | ||||
07/01/2024 | 5.000% | 2,235,000 | 2,565,981 | |
Texas 3.6% | ||||
Atascosa County Industrial Development Corp. | ||||
Refunding Revenue Bonds | ||||
San Miguel Electric Cooperative, Inc. Project | ||||
Series 2020 | ||||
12/15/2023 | 5.000% | 450,000 | 506,160 | |
12/15/2024 | 5.000% | 550,000 | 638,627 | |
12/15/2025 | 5.000% | 600,000 | 717,204 | |
12/15/2026 | 5.000% | 625,000 | 760,113 | |
Central Texas Regional Mobility Authority(e) | ||||
Revenue Bonds | ||||
Subordinated BAN Series 2020F | ||||
01/01/2025 | 5.000% | 1,500,000 | 1,716,180 | |
City of Corpus Christi(e) | ||||
Limited General Obligation Refunding Bonds | ||||
Forward Delivery | ||||
Series 2020B | ||||
03/01/2025 | 5.000% | 1,300,000 | 1,535,612 | |
03/01/2026 | 5.000% | 650,000 | 790,868 | |
City of Houston Airport System(d) | ||||
Refunding Revenue Bonds | ||||
Subordinated Series 2018C | ||||
07/01/2027 | 5.000% | 1,890,000 | 2,331,806 | |
City of San Antonio Airport System(d) | ||||
Refunding Revenue Bonds | ||||
Lien | ||||
Subordinated Series 2019A | ||||
07/01/2024 | 5.000% | 1,000,000 | 1,136,460 | |
Dallas/Fort Worth International Airport(d) | ||||
Refunding Revenue Bonds | ||||
Series 2013E | ||||
11/01/2020 | 5.000% | 4,975,000 | 4,976,217 | |
Dallas/Fort Worth International Airport | ||||
Refunding Revenue Bonds | ||||
Series 2020A | ||||
11/01/2025 | 5.000% | 500,000 | 605,460 |
16 | Columbia Short Term Municipal Bond Fund | Semiannual Report 2020 |
October 31, 2020 (Unaudited)
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Harris County Cultural Education Facilities Finance Corp. | ||||
Revenue Bonds | ||||
National Western Life Group | ||||
Series 2019A (Mandatory Put 12/01/26) | ||||
07/01/2049 | 5.000% | 2,500,000 | 3,097,850 | |
Harris County Cultural Education Facilities Finance Corp.(c) | ||||
Revenue Bonds | ||||
Natus Medical, Inc. | ||||
Series 2019 (Mandatory Put 12/04/24) | ||||
Muni Swap Index Yield + 0.570% 12/01/2049 | 0.690% | 2,000,000 | 1,989,480 | |
Lewisville Independent School District(f) | ||||
Unlimited General Obligation Refunding Bonds | ||||
Series 2014B | ||||
08/15/2022 | 0.000% | 3,175,000 | 3,150,552 | |
New Hope Cultural Education Facilities Finance Corp. | ||||
Revenue Bonds | ||||
Texas A&M University Cain Hall Redevelopment Project | ||||
Series 2016 | ||||
04/01/2036 | 5.000% | 1,545,000 | 1,805,765 | |
Total | 25,758,354 | |||
Utah 1.1% | ||||
County of Utah | ||||
Revenue Bonds | ||||
IHC Health Services, Inc. | ||||
Series 2018B (Mandatory Put 08/01/22) | ||||
05/15/2056 | 5.000% | 3,750,000 | 4,005,000 | |
Series 2020B (Mandatory Put 08/01/24) | ||||
05/15/2060 | 5.000% | 1,500,000 | 1,746,465 | |
Salt Lake City Corp. Airport(d) | ||||
Revenue Bonds | ||||
Series 2017A | ||||
07/01/2032 | 5.000% | 2,105,000 | 2,483,563 | |
Total | 8,235,028 | |||
Virginia 0.9% | ||||
Arlington County Industrial Development Authority | ||||
Refunding Revenue Bonds | ||||
Virginia Hospital Center | ||||
Series 2020 | ||||
07/01/2023 | 5.000% | 740,000 | 824,937 | |
Halifax County Industrial Development Authority | ||||
Revenue Bonds | ||||
Virginia Electric and Power Co. Project | ||||
Series 2008B (Mandatory Put 04/01/22) | ||||
12/01/2041 | 0.450% | 4,000,000 | 3,995,520 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Virginia Small Business Financing Authority | ||||
Refunding Revenue Bonds | ||||
National Senior Campuses | ||||
Series 2020 | ||||
01/01/2022 | 5.000% | 400,000 | 419,360 | |
01/01/2023 | 5.000% | 425,000 | 462,600 | |
01/01/2024 | 5.000% | 500,000 | 563,760 | |
Total | 6,266,177 | |||
Washington 2.6% | ||||
Chelan County Public Utility District No. 1(d) | ||||
Refunding Revenue Bonds | ||||
Series 2020C | ||||
07/01/2023 | 5.000% | 990,000 | 1,102,514 | |
07/01/2024 | 5.000% | 2,155,000 | 2,488,486 | |
07/01/2025 | 5.000% | 1,170,000 | 1,396,968 | |
Port of Seattle(d) | ||||
Revenue Bonds | ||||
Intermediate Lien | ||||
Series 2019 | ||||
04/01/2021 | 5.000% | 1,000,000 | 1,018,700 | |
04/01/2022 | 5.000% | 2,000,000 | 2,127,860 | |
04/01/2023 | 5.000% | 2,000,000 | 2,200,640 | |
Series 2018B | ||||
05/01/2023 | 5.000% | 2,000,000 | 2,207,500 | |
Seattle Housing Authority | ||||
Revenue Bonds | ||||
Hinoki Apartments Project | ||||
Series 2020A | ||||
06/01/2023 | 3.000% | 3,000,000 | 3,168,690 | |
Washington State Housing Finance Commission(d) | ||||
Refunding Revenue Bonds | ||||
Single Family Program | ||||
Series 2015 | ||||
12/01/2022 | 2.600% | 1,030,000 | 1,064,484 | |
Series 2017 | ||||
06/01/2039 | 4.000% | 775,000 | 822,035 | |
Washington State Housing Finance Commission | ||||
Revenue Bonds | ||||
Transforming Age Projects | ||||
Series 2019 | ||||
01/01/2026 | 2.375% | 1,500,000 | 1,441,530 | |
Total | 19,039,407 | |||
Wisconsin 1.6% | ||||
State of Wisconsin(e) | ||||
Unlimited General Obligation Refunding Bonds | ||||
Series 2021-1 | ||||
05/01/2026 | 5.000% | 3,000,000 | 3,678,870 |
Columbia Short Term Municipal Bond Fund | Semiannual Report 2020 | 17 |
October 31, 2020 (Unaudited)
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Wisconsin Health & Educational Facilities Authority | ||||
Refunding Revenue Bonds | ||||
Marshfield Clinic Health System, Inc. | ||||
Series 2020 (Mandatory Put 02/15/25) | ||||
02/15/2052 | 5.000% | 3,500,000 | 4,023,670 | |
Wisconsin Housing & Economic Development Authority(d) | ||||
Refunding Revenue Bonds | ||||
Series 2017B (FHA) | ||||
03/01/2021 | 1.850% | 525,000 | 526,764 | |
09/01/2022 | 2.150% | 870,000 | 889,114 | |
Revenue Bonds | ||||
Series 2018A | ||||
03/01/2021 | 2.250% | 390,000 | 391,689 | |
03/01/2022 | 2.500% | 1,265,000 | 1,289,693 | |
09/01/2022 | 2.600% | 710,000 | 729,283 | |
Total | 11,529,083 | |||
Wyoming 0.1% | ||||
Wyoming Community Development Authority | ||||
Refunding Revenue Bonds | ||||
Series 2020-3 | ||||
06/01/2023 | 5.000% | 955,000 | 1,057,854 | |
Total Municipal Bonds (Cost $614,001,455) | 622,311,841 | |||
Municipal Short Term 11.7% | ||||
Issue Description | Effective Yield | Principal Amount ($) | Value ($) | |
Connecticut 0.1% | ||||
State of Connecticut | ||||
Special Tax Bonds | ||||
Series 2020A | ||||
05/01/2021 | 0.360% | 500,000 | 509,135 | |
Illinois 0.1% | ||||
State of Illinois | ||||
Unlimited General Obligation Bonds | ||||
Series 2020 | ||||
05/01/2021 | 1.420% | 500,000 | 508,630 | |
Massachusetts 2.3% | ||||
Cape Cod Regional Transit Authority | ||||
Revenue Notes | ||||
Series 2020 | ||||
07/23/2021 | 0.660% | 4,500,000 | 4,527,270 | |
MetroWest Regional Transit Authority | ||||
Revenue Notes | ||||
RAN Series 2020 | ||||
09/17/2021 | 0.490% | 5,000,000 | 5,044,050 |
Municipal Short Term (continued) | ||||
Issue Description | Effective Yield | Principal Amount ($) | Value ($) | |
Southeastern Massachusetts Regional 911 District | ||||
Limited General Obligation Notes | ||||
BAN Series 2020 | ||||
10/14/2021 | 0.550% | 7,133,389 | 7,197,518 | |
Total | 16,768,838 | |||
Nevada 0.5% | ||||
State of Nevada Department of Business & Industry(d),(i) | ||||
Revenue Bonds | ||||
Brightline West Passenger Rail Project | ||||
Series 2020 (Mandatory Put 07/01/21) | ||||
01/01/2050 | 0.500% | 4,000,000 | 3,997,880 | |
New Hampshire 0.2% | ||||
New Hampshire Business Finance Authority(d) | ||||
Refunding Revenue Bonds | ||||
Waste Management, Inc. Project | ||||
Series 2020 (Mandatory Put 12/01/20) | ||||
04/01/2024 | 0.400% | 1,500,000 | 1,499,925 | |
New Jersey 1.0% | ||||
City of Newark | ||||
Unlimited General Obligation Notes | ||||
BAN Series 2020C | ||||
10/05/2021 | 0.750% | 1,000,000 | 1,011,500 | |
Series 2020 | ||||
07/27/2021 | 0.700% | 1,000,000 | 1,020,590 | |
City of Orange Township | ||||
Unlimited General Obligation Notes | ||||
Series 2020 | ||||
12/18/2020 | 1.080% | 5,311,000 | 5,317,442 | |
Total | 7,349,532 | |||
New York 7.1% | ||||
Board of Cooperative Educational Services for the Sole Supervisory District | ||||
Revenue Notes | ||||
RAN Series 2020 | ||||
07/30/2021 | 0.620% | 5,000,000 | 5,033,000 | |
09/29/2021 | 0.620% | 5,000,000 | 5,039,800 | |
Brocton Central School District | ||||
Unlimited General Obligation Notes | ||||
BAN Series 2020A | ||||
06/29/2021 | 0.510% | 5,750,000 | 5,787,720 | |
City of Amsterdam | ||||
Limited General Obligation Notes | ||||
Series 2020 | ||||
06/24/2021 | 1.860% | 7,689,034 | 7,695,339 | |
County of Rockland | ||||
Limited General Obligation Notes | ||||
Series 2020 | ||||
04/01/2021 | 0.350% | 1,595,000 | 1,606,006 |
18 | Columbia Short Term Municipal Bond Fund | Semiannual Report 2020 |
October 31, 2020 (Unaudited)
Municipal Short Term (continued) | ||||
Issue Description | Effective Yield | Principal Amount ($) | Value ($) | |
Fort Plain Central School District | ||||
Unlimited General Obligation Notes | ||||
Series 2020 | ||||
06/30/2021 | 0.650% | 4,500,000 | 4,525,200 | |
Greater Southern Tier Board of Cooperative Educational Services District | ||||
Revenue Notes | ||||
RAN Series 2020 | ||||
06/30/2021 | 0.630% | 5,000,000 | 5,028,950 | |
New York State Dormitory Authority | ||||
Revenue Notes | ||||
Series 2020B | ||||
03/31/2021 | 0.250% | 4,425,000 | 4,512,438 | |
Sandy Creek Central School District | ||||
Unlimited General Obligation Notes | ||||
Series 2020 | ||||
06/25/2021 | 0.530% | 5,520,000 | 5,554,886 | |
Town of Windham | ||||
Limited General Obligation Notes | ||||
Series 2020 | ||||
05/19/2021 | 1.030% | 6,521,000 | 6,555,431 | |
Total | 51,338,770 | |||
Pennsylvania 0.0% | ||||
Pennsylvania Economic Development Financing Authority | ||||
Refunding Revenue Bonds | ||||
Philadelphia Biosolids Facility Project | ||||
Series 2020 | ||||
01/01/2021 | 1.220% | 150,000 | 150,452 | |
Tennessee 0.2% | ||||
Memphis-Shelby County Airport Authority(d) | ||||
Refunding Revenue Bonds | ||||
Series 2020B | ||||
07/01/2021 | 0.680% | 1,125,000 | 1,157,445 |
Municipal Short Term (continued) | ||||
Issue Description | Effective Yield | Principal Amount ($) | Value ($) | |
Texas 0.2% | ||||
Mission Economic Development Corp.(d) | ||||
Refunding Revenue Bonds | ||||
Republic Services, Inc. Project | ||||
Series 2019 (Mandatory Put 11/02/20) | ||||
01/01/2026 | 0.500% | 1,250,000 | 1,250,000 | |
Total Municipal Short Term (Cost $84,489,274) | 84,530,607 |
Money Market Funds 1.9% | ||
Shares | Value ($) | |
Dreyfus AMT-Free Tax Exempt Cash Management Fund, Institutional Shares, 0.010%(j) | 88,006 | 87,997 |
JPMorgan Institutional Tax Free Money Market Fund, Institutional Shares, 0.012%(j) | 13,340,193 | 13,340,193 |
Total Money Market Funds (Cost $13,428,191) | 13,428,190 | |
Total Investments in Securities (Cost $726,613,920) | 734,965,638 | |
Other Assets & Liabilities, Net | (12,436,307) | |
Net Assets | $722,529,331 |
(a) | The Fund is entitled to receive principal and interest from the guarantor after a day or a week’s notice or upon maturity. The maturity date disclosed represents the final maturity. |
(b) | Represents a variable rate security where the coupon rate adjusts on specified dates (generally daily or weekly) using the prevailing money market rate. The interest rate shown was the current rate as of October 31, 2020. |
(c) | Variable rate security. The interest rate shown was the current rate as of October 31, 2020. |
(d) | Income from this security may be subject to alternative minimum tax. |
(e) | Represents a security purchased on a when-issued basis. |
(f) | Zero coupon bond. |
(g) | Represents a variable rate security with a step coupon where the rate adjusts according to a schedule for a series of periods, typically lower for an initial period and then increasing to a higher coupon rate thereafter. The interest rate shown was the current rate as of October 31, 2020. |
(h) | Municipal obligations include debt obligations issued by or on behalf of territories, possessions, or sovereign nations within the territorial boundaries of the United States. At October 31, 2020, the total value of these securities amounted to $5,543,250, which represents 0.77% of total net assets. |
(i) | Represents privately placed and other securities and instruments exempt from Securities and Exchange Commission registration (collectively, private placements), such as Section 4(a)(2) and Rule 144A eligible securities, which are often sold only to qualified institutional buyers. At October 31, 2020, the total value of these securities amounted to $3,997,880, which represents 0.55% of total net assets. |
(j) | The rate shown is the seven-day current annualized yield at October 31, 2020. |
Columbia Short Term Municipal Bond Fund | Semiannual Report 2020 | 19 |
October 31, 2020 (Unaudited)
AGM | Assured Guaranty Municipal Corporation |
AMBAC | Ambac Assurance Corporation |
BAM | Build America Mutual Assurance Co. |
BAN | Bond Anticipation Note |
FHA | Federal Housing Authority |
GNMA | Government National Mortgage Association |
HUD | Department of Housing and Urban Development |
LIBOR | London Interbank Offered Rate |
NPFGC | National Public Finance Guarantee Corporation |
RAN | Revenue Anticipation Note |
■ | Level 1 — Valuations based on quoted prices for investments in active markets that the Fund has the ability to access at the measurement date. Valuation adjustments are not applied to Level 1 investments. |
■ | Level 2 — Valuations based on other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risks, etc.). |
■ | Level 3 — Valuations based on significant unobservable inputs (including the Fund’s own assumptions and judgment in determining the fair value of investments). |
Level 1 ($) | Level 2 ($) | Level 3 ($) | Total ($) | |
Investments in Securities | ||||
Floating Rate Notes | — | 14,695,000 | — | 14,695,000 |
Municipal Bonds | — | 622,311,841 | — | 622,311,841 |
Municipal Short Term | — | 84,530,607 | — | 84,530,607 |
Money Market Funds | 13,428,190 | — | — | 13,428,190 |
Total Investments in Securities | 13,428,190 | 721,537,448 | — | 734,965,638 |
20 | Columbia Short Term Municipal Bond Fund | Semiannual Report 2020 |
October 31, 2020 (Unaudited)
Assets | |
Investments in securities, at value | |
Unaffiliated issuers (cost $726,613,920) | $734,965,638 |
Cash | 16,556 |
Receivable for: | |
Investments sold | 493,896 |
Capital shares sold | 322,374 |
Interest | 6,692,917 |
Expense reimbursement due from Investment Manager | 2,730 |
Prepaid expenses | 4,264 |
Other assets | 5,745 |
Total assets | 742,504,120 |
Liabilities | |
Payable for: | |
Investments purchased | 6,059,700 |
Investments purchased on a delayed delivery basis | 12,343,188 |
Capital shares purchased | 540,842 |
Distributions to shareholders | 806,726 |
Management services fees | 8,462 |
Distribution and/or service fees | 511 |
Transfer agent fees | 21,150 |
Compensation of board members | 163,463 |
Compensation of chief compliance officer | 78 |
Other expenses | 30,669 |
Total liabilities | 19,974,789 |
Net assets applicable to outstanding capital stock | $722,529,331 |
Represented by | |
Paid in capital | 720,898,867 |
Total distributable earnings (loss) | 1,630,464 |
Total - representing net assets applicable to outstanding capital stock | $722,529,331 |
Class A | |
Net assets | $65,558,511 |
Shares outstanding | 6,290,927 |
Net asset value per share | $10.42 |
Maximum sales charge | 1.00% |
Maximum offering price per share (calculated by dividing the net asset value per share by 1.0 minus the maximum sales charge for Class A shares) | $10.53 |
Advisor Class | |
Net assets | $1,614,066 |
Shares outstanding | 154,686 |
Net asset value per share | $10.43 |
Class C | |
Net assets | $2,347,833 |
Shares outstanding | 225,471 |
Net asset value per share | $10.41 |
Institutional Class | |
Net assets | $100,944,875 |
Shares outstanding | 9,686,434 |
Net asset value per share | $10.42 |
Institutional 2 Class | |
Net assets | $80,636,776 |
Shares outstanding | 7,741,424 |
Net asset value per share | $10.42 |
Institutional 3 Class | |
Net assets | $471,427,270 |
Shares outstanding | 45,255,361 |
Net asset value per share | $10.42 |
Columbia Short Term Municipal Bond Fund | Semiannual Report 2020 | 21 |
Six Months Ended October 31, 2020 (Unaudited)
Net investment income | |
Income: | |
Dividends — unaffiliated issuers | $20,382 |
Interest | 6,646,694 |
Total income | 6,667,076 |
Expenses: | |
Management services fees | 1,573,888 |
Distribution and/or service fees | |
Class A | 81,319 |
Class C | 13,947 |
Transfer agent fees | |
Class A | 30,063 |
Advisor Class | 703 |
Class C | 1,292 |
Institutional Class | 43,751 |
Institutional 2 Class | 22,160 |
Institutional 3 Class | 18,891 |
Compensation of board members | 42,002 |
Custodian fees | 4,829 |
Printing and postage fees | 8,000 |
Registration fees | 49,544 |
Audit fees | 19,804 |
Legal fees | 8,606 |
Compensation of chief compliance officer | 78 |
Other | 10,069 |
Total expenses | 1,928,946 |
Fees waived or expenses reimbursed by Investment Manager and its affiliates | (537,967) |
Fees waived by transfer agent | |
Institutional 2 Class | (2,777) |
Institutional 3 Class | (18,891) |
Expense reduction | (20) |
Total net expenses | 1,369,291 |
Net investment income | 5,297,785 |
Realized and unrealized gain (loss) — net | |
Net realized gain (loss) on: | |
Investments — unaffiliated issuers | 80,938 |
Net realized gain | 80,938 |
Net change in unrealized appreciation (depreciation) on: | |
Investments — unaffiliated issuers | 11,668,694 |
Net change in unrealized appreciation (depreciation) | 11,668,694 |
Net realized and unrealized gain | 11,749,632 |
Net increase in net assets resulting from operations | $17,047,417 |
22 | Columbia Short Term Municipal Bond Fund | Semiannual Report 2020 |
Six Months Ended October 31, 2020 (Unaudited) | Year Ended April 30, 2020 | |
Operations | ||
Net investment income | $5,297,785 | $14,501,305 |
Net realized gain (loss) | 80,938 | (1,298,712) |
Net change in unrealized appreciation (depreciation) | 11,668,694 | (4,774,105) |
Net increase in net assets resulting from operations | 17,047,417 | 8,428,488 |
Distributions to shareholders | ||
Net investment income and net realized gains | ||
Class A | (369,633) | (1,041,153) |
Advisor Class | (10,546) | (58,538) |
Class C | (5,447) | (34,487) |
Institutional Class | (656,772) | (1,829,256) |
Institutional 2 Class | (554,767) | (502,315) |
Institutional 3 Class | (3,656,548) | (11,276,477) |
Total distributions to shareholders | (5,253,713) | (14,742,226) |
Decrease in net assets from capital stock activity | (25,742,869) | (135,972,060) |
Total decrease in net assets | (13,949,165) | (142,285,798) |
Net assets at beginning of period | 736,478,496 | 878,764,294 |
Net assets at end of period | $722,529,331 | $736,478,496 |
Columbia Short Term Municipal Bond Fund | Semiannual Report 2020 | 23 |
Six Months Ended | Year Ended | |||
October 31, 2020 (Unaudited) | April 30, 2020 | |||
Shares | Dollars ($) | Shares | Dollars ($) | |
Capital stock activity | ||||
Class A | ||||
Subscriptions | 1,128,035 | 11,718,022 | 2,227,206 | 23,116,765 |
Distributions reinvested | 29,830 | 310,661 | 84,604 | 880,458 |
Redemptions | (910,579) | (9,473,604) | (2,872,681) | (29,722,450) |
Net increase (decrease) | 247,286 | 2,555,079 | (560,871) | (5,725,227) |
Advisor Class | ||||
Subscriptions | 62,021 | 644,294 | 240,454 | 2,503,382 |
Distributions reinvested | 565 | 5,890 | 1,549 | 16,145 |
Redemptions | (73,490) | (759,693) | (272,017) | (2,782,359) |
Net decrease | (10,904) | (109,509) | (30,014) | (262,832) |
Class C | ||||
Subscriptions | 17,898 | 186,623 | 87,760 | 902,703 |
Distributions reinvested | 456 | 4,748 | 2,621 | 27,260 |
Redemptions | (130,846) | (1,360,939) | (363,677) | (3,778,224) |
Net decrease | (112,492) | (1,169,568) | (273,296) | (2,848,261) |
Institutional Class | ||||
Subscriptions | 2,984,331 | 31,080,260 | 5,057,825 | 52,680,566 |
Distributions reinvested | 53,296 | 555,104 | 149,034 | 1,551,336 |
Redemptions | (1,820,912) | (18,961,932) | (6,814,884) | (70,140,596) |
Net increase (decrease) | 1,216,715 | 12,673,432 | (1,608,025) | (15,908,694) |
Institutional 2 Class | ||||
Subscriptions | 1,140,828 | 11,861,439 | 5,574,378 | 57,391,600 |
Distributions reinvested | 44,455 | 462,770 | 28,124 | 292,438 |
Redemptions | (405,851) | (4,223,626) | (1,281,861) | (13,315,497) |
Net increase | 779,432 | 8,100,583 | 4,320,641 | 44,368,541 |
Institutional 3 Class | ||||
Subscriptions | 545,027 | 5,662,798 | 2,422,041 | 25,185,200 |
Distributions reinvested | 3,101 | 32,273 | 6,035 | 62,744 |
Redemptions | (5,143,014) | (53,487,957) | (17,384,087) | (180,843,531) |
Net decrease | (4,594,886) | (47,792,886) | (14,956,011) | (155,595,587) |
Total net decrease | (2,474,849) | (25,742,869) | (13,107,576) | (135,972,060) |
24 | Columbia Short Term Municipal Bond Fund | Semiannual Report 2020 |
Columbia Short Term Municipal Bond Fund | Semiannual Report 2020 | 25 |
Net asset value, beginning of period | Net investment income (loss) | Net realized and unrealized gain (loss) | Total from investment operations | Distributions from net investment income | Total distributions to shareholders | |
Class A | ||||||
Six Months Ended 10/31/2020 (Unaudited) | $10.26 | 0.06 | 0.16 | 0.22 | (0.06) | (0.06) |
Year Ended 4/30/2020 | $10.35 | 0.15 | (0.08) | 0.07 | (0.16) | (0.16) |
Year Ended 4/30/2019 | $10.26 | 0.15 | 0.09 | 0.24 | (0.15) | (0.15) |
Year Ended 4/30/2018 | $10.36 | 0.11 | (0.09) | 0.02 | (0.12) | (0.12) |
Year Ended 4/30/2017 | $10.43 | 0.09 | (0.06) | 0.03 | (0.10) | (0.10) |
Year Ended 4/30/2016 | $10.42 | 0.07 | 0.01 | 0.08 | (0.07) | (0.07) |
Advisor Class | ||||||
Six Months Ended 10/31/2020 (Unaudited) | $10.27 | 0.07 | 0.16 | 0.23 | (0.07) | (0.07) |
Year Ended 4/30/2020 | $10.36 | 0.18 | (0.09) | 0.09 | (0.18) | (0.18) |
Year Ended 4/30/2019 | $10.27 | 0.18 | 0.09 | 0.27 | (0.18) | (0.18) |
Year Ended 4/30/2018 | $10.36 | 0.14 | (0.09) | 0.05 | (0.14) | (0.14) |
Year Ended 4/30/2017 | $10.43 | 0.12 | (0.07) | 0.05 | (0.12) | (0.12) |
Year Ended 4/30/2016 | $10.41 | 0.09 | 0.02 | 0.11 | (0.09) | (0.09) |
Class C | ||||||
Six Months Ended 10/31/2020 (Unaudited) | $10.25 | 0.02 | 0.16 | 0.18 | (0.02) | (0.02) |
Year Ended 4/30/2020 | $10.34 | 0.08 | (0.09) | (0.01) | (0.08) | (0.08) |
Year Ended 4/30/2019 | $10.25 | 0.07 | 0.10 | 0.17 | (0.08) | (0.08) |
Year Ended 4/30/2018 | $10.35 | 0.03 | (0.09) | (0.06) | (0.04) | (0.04) |
Year Ended 4/30/2017 | $10.42 | 0.01 | (0.06) | (0.05) | (0.02) | (0.02) |
Year Ended 4/30/2016 | $10.42 | (0.01) | 0.01 | 0.00(f) | (0.00)(f) | (0.00)(f) |
Institutional Class | ||||||
Six Months Ended 10/31/2020 (Unaudited) | $10.26 | 0.07 | 0.16 | 0.23 | (0.07) | (0.07) |
Year Ended 4/30/2020 | $10.35 | 0.18 | (0.09) | 0.09 | (0.18) | (0.18) |
Year Ended 4/30/2019 | $10.26 | 0.18 | 0.09 | 0.27 | (0.18) | (0.18) |
Year Ended 4/30/2018 | $10.36 | 0.13 | (0.09) | 0.04 | (0.14) | (0.14) |
Year Ended 4/30/2017 | $10.43 | 0.12 | (0.07) | 0.05 | (0.12) | (0.12) |
Year Ended 4/30/2016 | $10.42 | 0.09 | 0.01 | 0.10 | (0.09) | (0.09) |
Institutional 2 Class | ||||||
Six Months Ended 10/31/2020 (Unaudited) | $10.25 | 0.07 | 0.17 | 0.24 | (0.07) | (0.07) |
Year Ended 4/30/2020 | $10.35 | 0.18 | (0.09) | 0.09 | (0.19) | (0.19) |
Year Ended 4/30/2019 | $10.26 | 0.18 | 0.09 | 0.27 | (0.18) | (0.18) |
Year Ended 4/30/2018 | $10.35 | 0.15 | (0.09) | 0.06 | (0.15) | (0.15) |
Year Ended 4/30/2017 | $10.42 | 0.13 | (0.07) | 0.06 | (0.13) | (0.13) |
Year Ended 4/30/2016 | $10.41 | 0.10 | 0.01 | 0.11 | (0.10) | (0.10) |
26 | Columbia Short Term Municipal Bond Fund | Semiannual Report 2020 |
Net asset value, end of period | Total return | Total gross expense ratio to average net assets(a) | Total net expense ratio to average net assets(a),(b) | Net investment income (loss) ratio to average net assets | Portfolio turnover | Net assets, end of period (000’s) | |
Class A | |||||||
Six Months Ended 10/31/2020 (Unaudited) | $10.42 | 2.14% | 0.81%(c) | 0.66%(c),(d) | 1.15%(c) | 27% | $65,559 |
Year Ended 4/30/2020 | $10.26 | 0.63% | 0.80%(e) | 0.66%(d),(e) | 1.48% | 58% | $61,987 |
Year Ended 4/30/2019 | $10.35 | 2.39% | 0.81% | 0.66%(d) | 1.44% | 55% | $68,355 |
Year Ended 4/30/2018 | $10.26 | 0.16% | 0.81% | 0.67%(d) | 1.08% | 36% | $83,580 |
Year Ended 4/30/2017 | $10.36 | 0.26% | 0.86% | 0.71%(d) | 0.86% | 46% | $106,751 |
Year Ended 4/30/2016 | $10.43 | 0.74% | 0.89% | 0.72%(d) | 0.64% | 37% | $127,769 |
Advisor Class | |||||||
Six Months Ended 10/31/2020 (Unaudited) | $10.43 | 2.26% | 0.56%(c) | 0.41%(c),(d) | 1.39%(c) | 27% | $1,614 |
Year Ended 4/30/2020 | $10.27 | 0.89% | 0.55%(e) | 0.41%(d),(e) | 1.72% | 58% | $1,701 |
Year Ended 4/30/2019 | $10.36 | 2.64% | 0.56% | 0.41%(d) | 1.74% | 55% | $2,027 |
Year Ended 4/30/2018 | $10.27 | 0.51% | 0.56% | 0.42%(d) | 1.33% | 36% | $607 |
Year Ended 4/30/2017 | $10.36 | 0.51% | 0.62% | 0.45%(d) | 1.15% | 46% | $1,041 |
Year Ended 4/30/2016 | $10.43 | 1.09% | 0.64% | 0.47%(d) | 0.89% | 37% | $544 |
Class C | |||||||
Six Months Ended 10/31/2020 (Unaudited) | $10.41 | 1.75% | 1.56%(c) | 1.41%(c),(d) | 0.41%(c) | 27% | $2,348 |
Year Ended 4/30/2020 | $10.25 | (0.12%) | 1.55%(e) | 1.41%(d),(e) | 0.74% | 58% | $3,464 |
Year Ended 4/30/2019 | $10.34 | 1.62% | 1.55% | 1.41%(d) | 0.69% | 55% | $6,322 |
Year Ended 4/30/2018 | $10.25 | (0.59%) | 1.56% | 1.42%(d) | 0.33% | 36% | $10,327 |
Year Ended 4/30/2017 | $10.35 | (0.48%) | 1.61% | 1.46%(d) | 0.11% | 46% | $14,630 |
Year Ended 4/30/2016 | $10.42 | 0.00%(f) | 1.64% | 1.47%(d) | (0.10%) | 37% | $19,074 |
Institutional Class | |||||||
Six Months Ended 10/31/2020 (Unaudited) | $10.42 | 2.27% | 0.56%(c) | 0.41%(c),(d) | 1.39%(c) | 27% | $100,945 |
Year Ended 4/30/2020 | $10.26 | 0.89% | 0.55%(e) | 0.41%(d),(e) | 1.72% | 58% | $86,870 |
Year Ended 4/30/2019 | $10.35 | 2.64% | 0.56% | 0.41%(d) | 1.70% | 55% | $104,300 |
Year Ended 4/30/2018 | $10.26 | 0.40% | 0.58% | 0.44%(d) | 1.21% | 36% | $112,699 |
Year Ended 4/30/2017 | $10.36 | 0.51% | 0.61% | 0.46%(d) | 1.11% | 46% | $1,366,779 |
Year Ended 4/30/2016 | $10.43 | 0.99% | 0.64% | 0.47%(d) | 0.89% | 37% | $1,623,807 |
Institutional 2 Class | |||||||
Six Months Ended 10/31/2020 (Unaudited) | $10.42 | 2.39% | 0.52%(c) | 0.37%(c) | 1.44%(c) | 27% | $80,637 |
Year Ended 4/30/2020 | $10.25 | 0.83% | 0.51%(e) | 0.37%(e) | 1.77% | 58% | $71,372 |
Year Ended 4/30/2019 | $10.35 | 2.69% | 0.51% | 0.36% | 1.76% | 55% | $27,329 |
Year Ended 4/30/2018 | $10.26 | 0.55% | 0.51% | 0.37% | 1.41% | 36% | $18,813 |
Year Ended 4/30/2017 | $10.35 | 0.61% | 0.50% | 0.36% | 1.21% | 46% | $14,452 |
Year Ended 4/30/2016 | $10.42 | 1.10% | 0.49% | 0.37% | 1.00% | 37% | $22,159 |
Columbia Short Term Municipal Bond Fund | Semiannual Report 2020 | 27 |
Net asset value, beginning of period | Net investment income (loss) | Net realized and unrealized gain (loss) | Total from investment operations | Distributions from net investment income | Total distributions to shareholders | |
Institutional 3 Class | ||||||
Six Months Ended 10/31/2020 (Unaudited) | $10.25 | 0.08 | 0.17 | 0.25 | (0.08) | (0.08) |
Year Ended 4/30/2020 | $10.35 | 0.19 | (0.10) | 0.09 | (0.19) | (0.19) |
Year Ended 4/30/2019 | $10.25 | 0.18 | 0.11 | 0.29 | (0.19) | (0.19) |
Year Ended 4/30/2018 | $10.36 | 0.15 | (0.11) | 0.04 | (0.15) | (0.15) |
Year Ended 4/30/2017(g) | $10.35 | 0.02 | 0.01(h) | 0.03 | (0.02) | (0.02) |
Notes to Financial Highlights | |
(a) | In addition to the fees and expenses that the Fund bears directly, the Fund indirectly bears a pro rata share of the fees and expenses of any other funds in which it invests. Such indirect expenses are not included in the Fund’s reported expense ratios. |
(b) | Total net expenses include the impact of certain fee waivers/expense reimbursements made by the Investment Manager and certain of its affiliates, if applicable. |
(c) | Annualized. |
(d) | The benefits derived from expense reductions had an impact of less than 0.01%. |
(e) | Ratios include interfund lending expense which is less than 0.01%. |
(f) | Rounds to zero. |
(g) | Institutional 3 Class shares commenced operations on March 1, 2017. Per share data and total return reflect activity from that date. |
(h) | Calculation of the net gain (loss) per share (both realized and unrealized) does not correlate to the aggregate realized and unrealized gain (loss) presented in the Statement of Operations due to the timing of subscriptions and redemptions of Fund shares in relation to fluctuations in the market value of the portfolio. |
28 | Columbia Short Term Municipal Bond Fund | Semiannual Report 2020 |
Net asset value, end of period | Total return | Total gross expense ratio to average net assets(a) | Total net expense ratio to average net assets(a),(b) | Net investment income (loss) ratio to average net assets | Portfolio turnover | Net assets, end of period (000’s) | |
Institutional 3 Class | |||||||
Six Months Ended 10/31/2020 (Unaudited) | $10.42 | 2.41% | 0.47%(c) | 0.32%(c) | 1.49%(c) | 27% | $471,427 |
Year Ended 4/30/2020 | $10.25 | 0.88% | 0.46%(e) | 0.32%(e) | 1.82% | 58% | $511,085 |
Year Ended 4/30/2019 | $10.35 | 2.84% | 0.46% | 0.32% | 1.78% | 55% | $670,432 |
Year Ended 4/30/2018 | $10.25 | 0.41% | 0.46% | 0.33% | 1.50% | 36% | $911,594 |
Year Ended 4/30/2017(g) | $10.36 | 0.33% | 0.50%(c) | 0.31%(c) | 1.42%(c) | 46% | $10 |
Columbia Short Term Municipal Bond Fund | Semiannual Report 2020 | 29 |
October 31, 2020 (Unaudited)
30 | Columbia Short Term Municipal Bond Fund | Semiannual Report 2020 |
October 31, 2020 (Unaudited)
Columbia Short Term Municipal Bond Fund | Semiannual Report 2020 | 31 |
October 31, 2020 (Unaudited)
32 | Columbia Short Term Municipal Bond Fund | Semiannual Report 2020 |
October 31, 2020 (Unaudited)
Effective rate (%) | |
Class A | 0.09 |
Advisor Class | 0.09 |
Class C | 0.09 |
Institutional Class | 0.09 |
Institutional 2 Class | 0.05 |
Institutional 3 Class | 0.00 |
Front End (%) | CDSC (%) | Amount ($) | |
Class A | 1.00 | 0.50(a) | 35,292 |
Class C | — | 1.00(b) | 500 |
(a) | This charge is imposed on certain investments of $500,000 or more if redeemed within 12 months after purchase. |
(b) | This charge applies to redemptions within 12 months after purchase, with certain limited exceptions. |
Columbia Short Term Municipal Bond Fund | Semiannual Report 2020 | 33 |
October 31, 2020 (Unaudited)
September 1, 2020 through August 31, 2021 | Prior to September 1, 2020 | |
Class A | 0.66% | 0.67% |
Advisor Class | 0.41 | 0.42 |
Class C | 1.41 | 1.42 |
Institutional Class | 0.41 | 0.42 |
Institutional 2 Class | 0.37 | 0.37 |
Institutional 3 Class | 0.32 | 0.32 |
Federal tax cost ($) | Gross unrealized appreciation ($) | Gross unrealized (depreciation) ($) | Net unrealized appreciation ($) |
726,614,000 | 9,415,000 | (1,063,000) | 8,352,000 |
No expiration short-term ($) | No expiration long-term ($) | Total ($) |
(2,416,275) | (4,532,981) | (6,949,256) |
34 | Columbia Short Term Municipal Bond Fund | Semiannual Report 2020 |
October 31, 2020 (Unaudited)
Columbia Short Term Municipal Bond Fund | Semiannual Report 2020 | 35 |
October 31, 2020 (Unaudited)
36 | Columbia Short Term Municipal Bond Fund | Semiannual Report 2020 |
October 31, 2020 (Unaudited)
Columbia Short Term Municipal Bond Fund | Semiannual Report 2020 | 37 |
October 31, 2020 (Unaudited)
38 | Columbia Short Term Municipal Bond Fund | Semiannual Report 2020 |
Columbia Short Term Municipal Bond Fund | Semiannual Report 2020 | 39 |
The Board also discussed the acceptability of the terms of the Management Agreement (including the relatively broad scope of services required to be performed by Columbia Threadneedle), noting that no material changes are proposed from the form of agreement previously approved. They also noted the wide array of legal and compliance services provided to the Funds under the Management Agreement. It was observed that the services being performed under the Management Agreement were of a reasonable quality.
40 | Columbia Short Term Municipal Bond Fund | Semiannual Report 2020 |
Economies of scale to be realized
Columbia Short Term Municipal Bond Fund | Semiannual Report 2020 | 41 |
columbiathreadneedleus.com/investor/. The Fund is distributed by Columbia Management Investment Distributors, Inc., member FINRA, and managed by Columbia Management Investment Advisers, LLC.
October 31, 2020
(Unaudited)
Average annual total returns (%) (for the period ended October 31, 2020) | ||||||
Inception | 6 Months cumulative | 1 Year | 5 Years | 10 Years | ||
Class A | Excluding sales charges | 09/09/02 | 4.83 | 1.82 | 2.71 | 3.32 |
Including sales charges | 1.65 | -1.24 | 2.07 | 3.01 | ||
Advisor Class* | 03/19/13 | 4.97 | 1.97 | 2.96 | 3.58 | |
Class C | Excluding sales charges | 09/11/02 | 4.54 | 1.06 | 1.96 | 2.55 |
Including sales charges | 3.54 | 0.06 | 1.96 | 2.55 | ||
Institutional Class | 08/19/02 | 5.07 | 2.07 | 2.98 | 3.58 | |
Institutional 2 Class* | 11/08/12 | 5.11 | 2.13 | 3.06 | 3.64 | |
Institutional 3 Class* | 03/01/17 | 5.03 | 2.18 | 3.06 | 3.62 | |
Bloomberg Barclays California 3-15 Year Blend Municipal Bond Index | 4.42 | 3.87 | 3.26 | 3.85 | ||
Bloomberg Barclays 3-15 Year Blend Municipal Bond Index | 4.67 | 3.84 | 3.41 | 3.66 |
* | The returns shown for periods prior to the share class inception date (including returns for the Life of the Fund, if shown, which are since Fund inception) include the returns of the Fund’s oldest share class. These returns are adjusted to reflect any higher class-related operating expenses of the newer share classes, as applicable. Please visit columbiathreadneedleus.com/investor/investment-products/mutual-funds/appended-performance for more information. |
Columbia California Intermediate Municipal Bond Fund | Semiannual Report 2020 | 3 |
(Unaudited)
Quality breakdown (%) (at October 31, 2020) | |
AAA rating | 0.8 |
AA rating | 53.1 |
A rating | 29.7 |
BBB rating | 12.2 |
BB rating | 1.7 |
Not rated | 2.5 |
Total | 100.0 |
4 | Columbia California Intermediate Municipal Bond Fund | Semiannual Report 2020 |
(Unaudited)
May 1, 2020 — October 31, 2020 | |||||||
Account value at the beginning of the period ($) | Account value at the end of the period ($) | Expenses paid during the period ($) | Fund’s annualized expense ratio (%) | ||||
Actual | Hypothetical | Actual | Hypothetical | Actual | Hypothetical | Actual | |
Class A | 1,000.00 | 1,000.00 | 1,048.30 | 1,021.31 | 3.85 | 3.80 | 0.75 |
Advisor Class | 1,000.00 | 1,000.00 | 1,049.70 | 1,022.56 | 2.57 | 2.54 | 0.50 |
Class C | 1,000.00 | 1,000.00 | 1,045.40 | 1,017.60 | 7.64 | 7.54 | 1.49 |
Institutional Class | 1,000.00 | 1,000.00 | 1,050.70 | 1,022.56 | 2.57 | 2.54 | 0.50 |
Institutional 2 Class | 1,000.00 | 1,000.00 | 1,051.10 | 1,022.86 | 2.26 | 2.23 | 0.44 |
Institutional 3 Class | 1,000.00 | 1,000.00 | 1,050.30 | 1,023.11 | 2.00 | 1.98 | 0.39 |
Columbia California Intermediate Municipal Bond Fund | Semiannual Report 2020 | 5 |
October 31, 2020 (Unaudited)
Floating Rate Notes 1.1% | ||||
Issue Description | Effective Yield | Principal Amount ($) | Value ($) | |
Variable Rate Demand Notes 1.1% | ||||
State of California(a),(b) | ||||
Unlimited General Obligation Bonds | ||||
Kindergarten | ||||
Series 2013A2 (State Street) | ||||
05/01/2034 | 0.080% | 5,285,000 | 5,285,000 | |
Total Floating Rate Notes (Cost $5,285,000) | 5,285,000 | |||
Municipal Bonds 98.9% | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Airport 10.4% | ||||
City of Los Angeles Department of Airports | ||||
Refunding Revenue Bonds | ||||
Subordinated Series 2019C | ||||
05/15/2035 | 5.000% | 3,975,000 | 4,958,852 | |
05/15/2037 | 5.000% | 2,250,000 | 2,785,837 | |
Revenue Bonds | ||||
Subordinated Series 2017B | ||||
05/15/2029 | 5.000% | 330,000 | 406,540 | |
05/15/2030 | 5.000% | 500,000 | 612,510 | |
Subordinated Refunding Revenue Bonds | ||||
Series 2015C | ||||
05/15/2029 | 5.000% | 2,410,000 | 2,828,135 | |
City of Los Angeles Department of Airports(c) | ||||
Revenue Bonds | ||||
Los Angeles International Airport | ||||
Subordinated Series 2019 | ||||
05/15/2038 | 5.000% | 3,500,000 | 4,243,645 | |
Senior Series 2020C | ||||
05/15/2038 | 5.000% | 3,000,000 | 3,718,980 | |
County of Orange Airport | ||||
Refunding Revenue Bonds | ||||
Series 2019A | ||||
07/01/2029 | 5.000% | 200,000 | 246,602 | |
Series 2019B | ||||
07/01/2029 | 5.000% | 275,000 | 339,078 | |
County of Sacramento Airport System | ||||
Refunding Revenue Bonds | ||||
Subordinated Series 2016B | ||||
07/01/2036 | 5.000% | 1,750,000 | 2,025,188 | |
Subordinated Series 2018E | ||||
07/01/2034 | 5.000% | 1,000,000 | 1,216,840 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Norman Y. Mineta San Jose International Airport | ||||
Refunding Revenue Bonds | ||||
Series 2014B | ||||
03/01/2027 | 5.000% | 2,000,000 | 2,268,020 | |
Series 2014C | ||||
03/01/2030 | 5.000% | 2,500,000 | 2,813,975 | |
San Diego County Regional Airport Authority | ||||
Refunding Revenue Bonds | ||||
Subordinated Series 2017A | ||||
07/01/2033 | 5.000% | 1,000,000 | 1,205,110 | |
07/01/2034 | 5.000% | 700,000 | 841,463 | |
San Diego County Regional Airport Authority(c) | ||||
Refunding Revenue Bonds | ||||
Subordinated Series 2019B | ||||
07/01/2036 | 5.000% | 1,540,000 | 1,879,154 | |
Subordinated Series 2020 | ||||
07/01/2036 | 5.000% | 495,000 | 615,330 | |
07/01/2039 | 5.000% | 400,000 | 492,044 | |
San Francisco City & County Airport Commission - San Francisco International Airport | ||||
Refunding Revenue Bonds | ||||
2nd Series 2011 | ||||
05/01/2026 | 5.250% | 555,000 | 568,115 | |
2nd Series 2016A | ||||
05/01/2026 | 5.000% | 1,975,000 | 2,416,314 | |
San Francisco Airport Commission Project | ||||
Series 2019 | ||||
05/01/2036 | 5.000% | 3,205,000 | 3,965,546 | |
San Francisco City & County Airport Commission - San Francisco International Airport(c) | ||||
Refunding Revenue Bonds | ||||
Series 2019H | ||||
05/01/2026 | 5.000% | 1,140,000 | 1,377,017 | |
Series 2020A-2 | ||||
05/01/2039 | 4.000% | 750,000 | 841,890 | |
Revenue Bonds | ||||
Series 2019E | ||||
05/01/2037 | 5.000% | 4,000,000 | 4,834,400 | |
Total | 47,500,585 | |||
Charter Schools 3.8% | ||||
California Infrastructure & Economic Development Bank | ||||
Revenue Bonds | ||||
Equitable School Revolving Fund | ||||
Series 2019 | ||||
11/01/2039 | 5.000% | 275,000 | 333,633 |
6 | Columbia California Intermediate Municipal Bond Fund | Semiannual Report 2020 |
October 31, 2020 (Unaudited)
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
California School Finance Authority(d) | ||||
Refunding Revenue Bonds | ||||
Aspire Public Schools | ||||
Series 2016 | ||||
08/01/2029 | 5.000% | 1,100,000 | 1,259,753 | |
08/01/2030 | 5.000% | 1,505,000 | 1,714,060 | |
08/01/2031 | 5.000% | 925,000 | 1,049,403 | |
Revenue Bonds | ||||
Alliance College-Ready Public Schools | ||||
Series 2015 | ||||
07/01/2030 | 5.000% | 3,400,000 | 3,836,254 | |
Green Dot Public School Project | ||||
Series 2015A | ||||
08/01/2035 | 5.000% | 1,010,000 | 1,117,848 | |
Series 2018 | ||||
08/01/2038 | 5.000% | 1,000,000 | 1,159,090 | |
KIPP Los Angeles Projects | ||||
Series 2015A | ||||
07/01/2035 | 5.000% | 1,250,000 | 1,397,862 | |
Series 2017 | ||||
07/01/2037 | 5.000% | 3,090,000 | 3,571,113 | |
River Springs Charter School Project | ||||
Series 2015 | ||||
07/01/2025 | 5.250% | 1,360,000 | 1,451,079 | |
California School Finance Authority | ||||
Revenue Bonds | ||||
KIPP Los Angeles Projects | ||||
Series 2014A | ||||
07/01/2034 | 5.000% | 600,000 | 658,326 | |
Total | 17,548,421 | |||
Disposal 0.2% | ||||
California Municipal Finance Authority(d) | ||||
Revenue Bonds | ||||
Waste Management, Inc. | ||||
Series 2009A (Mandatory Put 02/03/25) | ||||
02/01/2039 | 1.300% | 750,000 | 758,400 | |
Health Services 0.1% | ||||
California Municipal Finance Authority | ||||
Revenue Bonds | ||||
Clincas Del Camino Real, Inc. | ||||
Series 2020 | ||||
03/01/2035 | 4.000% | 500,000 | 555,035 | |
Higher Education 5.4% | ||||
California Educational Facilities Authority | ||||
Refunding Revenue Bonds | ||||
Loma Linda University | ||||
Series 2017A | ||||
04/01/2034 | 5.000% | 1,485,000 | 1,701,558 | |
04/01/2035 | 5.000% | 2,000,000 | 2,285,020 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Series 2018-A | ||||
12/01/2036 | 5.000% | 1,000,000 | 1,143,590 | |
Revenue Bonds | ||||
Chapman University | ||||
Series 2015 | ||||
04/01/2026 | 5.000% | 1,000,000 | 1,185,640 | |
Green Bonds - Loyola Marymount University | ||||
Series 2018 | ||||
10/01/2036 | 5.000% | 760,000 | 940,614 | |
California Municipal Finance Authority | ||||
Refunding Revenue Bonds | ||||
Azusa Pacific University | ||||
Series 2015B | ||||
04/01/2025 | 5.000% | 395,000 | 440,188 | |
04/01/2026 | 5.000% | 1,000,000 | 1,102,460 | |
Biola University | ||||
Series 2017 | ||||
10/01/2031 | 5.000% | 540,000 | 618,678 | |
10/01/2032 | 5.000% | 615,000 | 701,309 | |
10/01/2033 | 5.000% | 625,000 | 709,031 | |
10/01/2034 | 5.000% | 570,000 | 644,915 | |
California Lutheran University | ||||
Series 2018 | ||||
10/01/2035 | 5.000% | 225,000 | 259,868 | |
10/01/2036 | 5.000% | 250,000 | 287,868 | |
Revenue Bonds | ||||
Biola University | ||||
Series 2013 | ||||
10/01/2024 | 5.000% | 505,000 | 551,738 | |
10/01/2028 | 5.000% | 840,000 | 911,123 | |
National University | ||||
Series 2019A | ||||
04/01/2035 | 5.000% | 1,780,000 | 2,223,647 | |
04/01/2036 | 5.000% | 1,120,000 | 1,391,667 | |
University of San Diego | ||||
Series 2019A | ||||
10/01/2037 | 5.000% | 1,200,000 | 1,504,416 | |
California Municipal Finance Authority(d) | ||||
Revenue Bonds | ||||
California Baptist University | ||||
Series 2016A | ||||
11/01/2026 | 4.000% | 1,000,000 | 1,037,290 | |
California Statewide Communities Development Authority(d) | ||||
Refunding Revenue Bonds | ||||
California Baptist University | ||||
Series 2017A | ||||
11/01/2032 | 5.000% | 1,135,000 | 1,228,830 | |
Revenue Bonds | ||||
California Baptist University | ||||
Series 2014A | ||||
11/01/2023 | 5.125% | 480,000 | 495,730 |
Columbia California Intermediate Municipal Bond Fund | Semiannual Report 2020 | 7 |
October 31, 2020 (Unaudited)
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Lancer Plaza Project | ||||
Series 2013 | ||||
11/01/2023 | 5.125% | 355,000 | 366,559 | |
University of California | ||||
Refunding Revenue Bonds | ||||
Series 2020BE | ||||
05/15/2037 | 4.000% | 2,665,000 | 3,213,750 | |
Total | 24,945,489 | |||
Hospital 12.3% | ||||
ABAG Finance Authority for Nonprofit Corps. | ||||
Revenue Bonds | ||||
Sharp Healthcare | ||||
Series 2011A | ||||
08/01/2024 | 5.250% | 2,750,000 | 2,845,617 | |
California Health Facilities Financing Authority | ||||
Refunding Revenue Bonds | ||||
Cedars Sinai Medical Center | ||||
Series 2015 | ||||
11/15/2028 | 5.000% | 1,000,000 | 1,207,540 | |
Children’s Hospital of Orange County | ||||
Series 2019 | ||||
11/01/2030 | 5.000% | 810,000 | 1,059,480 | |
El Camino Hospital | ||||
Series 2015A | ||||
02/01/2027 | 5.000% | 1,500,000 | 1,748,385 | |
Marshall Medical Center | ||||
Series 2015 | ||||
11/01/2023 | 5.000% | 325,000 | 368,466 | |
Providence St. Joseph Health System | ||||
Series 2019 (Mandatory Put 10/01/25) | ||||
10/01/2039 | 5.000% | 2,500,000 | 3,032,825 | |
Series 2019 (Mandatory Put 10/01/27) | ||||
10/01/2039 | 5.000% | 2,775,000 | 3,524,971 | |
Sutter Health | ||||
Series 2017A | ||||
11/15/2033 | 5.000% | 1,000,000 | 1,229,060 | |
Revenue Bonds | ||||
City of Hope Obligation Group | ||||
Series 2012A | ||||
11/15/2021 | 5.000% | 600,000 | 627,024 | |
El Camino Hospital | ||||
Series 2017 | ||||
02/01/2033 | 5.000% | 2,500,000 | 2,980,300 | |
02/01/2034 | 5.000% | 500,000 | 594,200 | |
Kaiser Permanente | ||||
Subordinated Series 2017A-1-G | ||||
11/01/2027 | 5.000% | 1,875,000 | 2,403,806 | |
Lucile Salter Packard Children’s Hospital | ||||
Series 2014 | ||||
08/15/2028 | 5.000% | 300,000 | 342,804 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Series 2017 | ||||
11/15/2034 | 5.000% | 250,000 | 303,490 | |
11/15/2035 | 5.000% | 270,000 | 326,660 | |
Providence Health & Services | ||||
Series 2014A | ||||
10/01/2030 | 5.000% | 1,500,000 | 1,728,615 | |
Sutter Health | ||||
Series 2018A | ||||
11/15/2034 | 5.000% | 1,000,000 | 1,226,570 | |
California Municipal Finance Authority | ||||
Refunding Revenue Bonds | ||||
Community Medical Centers | ||||
Series 2015A | ||||
02/01/2027 | 5.000% | 1,200,000 | 1,381,416 | |
Series 2017A | ||||
02/01/2033 | 5.000% | 2,770,000 | 3,243,144 | |
California Statewide Communities Development Authority | ||||
Refunding Revenue Bonds | ||||
Enloe Medical Center | ||||
Series 2015 | ||||
08/15/2030 | 5.000% | 1,990,000 | 2,396,875 | |
Huntington Memorial Hospital | ||||
Series 2014B | ||||
07/01/2033 | 5.000% | 2,300,000 | 2,598,264 | |
Revenue Bonds | ||||
Emanate Health | ||||
Series 2020A | ||||
04/01/2026 | 5.000% | 570,000 | 694,608 | |
Green - Marin General Hospital Project | ||||
Series 2018 | ||||
08/01/2033 | 5.000% | 425,000 | 511,462 | |
08/01/2034 | 5.000% | 650,000 | 780,267 | |
Henry Mayo Newhall Memorial Hospital | ||||
Series 2014A (AGM) | ||||
10/01/2027 | 5.000% | 1,000,000 | 1,140,620 | |
Kaiser Permanente | ||||
Series 2019 (Mandatory Put 11/01/29) | ||||
04/01/2038 | 5.000% | 2,500,000 | 3,289,500 | |
04/01/2045 | 5.000% | 5,000,000 | 6,579,000 | |
Loma Linda University Medical Center | ||||
Series 2014 | ||||
12/01/2034 | 5.250% | 3,000,000 | 3,292,800 | |
Methodist Hospital of Southern California | ||||
Series 2018 | ||||
01/01/2036 | 5.000% | 3,000,000 | 3,534,960 |
8 | Columbia California Intermediate Municipal Bond Fund | Semiannual Report 2020 |
October 31, 2020 (Unaudited)
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
City of Upland | ||||
Refunding Certificate of Participation | ||||
San Antonio Regional Hospital | ||||
Series 2017 | ||||
01/01/2034 | 5.000% | 500,000 | 584,195 | |
01/01/2036 | 4.000% | 1,000,000 | 1,083,030 | |
Total | 56,659,954 | |||
Human Service Provider 0.3% | ||||
California Municipal Finance Authority | ||||
Refunding Revenue Bonds | ||||
Harbor Regional Center Project | ||||
Series 2015 | ||||
11/01/2032 | 5.000% | 1,120,000 | 1,324,781 | |
Joint Power Authority 0.7% | ||||
Middle Fork Project Finance Authority | ||||
Refunding Revenue Bonds | ||||
Series 2020 | ||||
04/01/2030 | 5.000% | 1,200,000 | 1,484,688 | |
Northern California Transmission Agency | ||||
Refunding Revenue Bonds | ||||
California-Oregon Project | ||||
Series 2016 | ||||
05/01/2032 | 5.000% | 1,500,000 | 1,799,715 | |
Total | 3,284,403 | |||
Local Appropriation 2.4% | ||||
Anaheim Public Financing Authority | ||||
Refunding Revenue Bonds | ||||
Anaheim Public Improvement Projects | ||||
Series 2019 BAM | ||||
09/01/2031 | 5.000% | 1,470,000 | 1,845,555 | |
Los Angeles County Public Works Financing Authority(e) | ||||
Revenue Bonds | ||||
Green Bonds - LACMA Building for the Permanent Collection Project | ||||
Series 2020A | ||||
12/01/2037 | 4.000% | 2,415,000 | 2,863,514 | |
Riverside Public Financing Authority | ||||
Refunding Revenue Bonds | ||||
Series 2012A | ||||
11/01/2027 | 5.000% | 2,145,000 | 2,341,375 | |
11/01/2028 | 5.000% | 1,155,000 | 1,259,285 | |
San Rafael Joint Powers Financing Authority | ||||
Revenue Bonds | ||||
Public Safety Facilities Project | ||||
Series 2018 | ||||
06/01/2033 | 5.000% | 850,000 | 1,069,878 | |
06/01/2034 | 5.000% | 775,000 | 971,292 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
South San Francisco Public Facilities Financing Authority | ||||
Revenue Bonds | ||||
Police Station Project | ||||
Series 2020A | ||||
06/01/2034 | 4.000% | 410,000 | 493,931 | |
Total | 10,844,830 | |||
Local General Obligation 8.5% | ||||
Chula Vista Elementary School District(f) | ||||
Unlimited General Obligation Bonds | ||||
BAN Series 2019 | ||||
08/01/2023 | 0.000% | 1,150,000 | 1,137,983 | |
Compton Community College District | ||||
Unlimited General Obligation Refunding Bonds | ||||
Series 2012 | ||||
07/01/2022 | 5.000% | 2,095,000 | 2,257,656 | |
Compton Unified School District | ||||
Unlimited General Obligation Bonds | ||||
Compton Unified School District | ||||
Series 2019B (BAM) | ||||
06/01/2029 | 5.000% | 650,000 | 812,656 | |
Compton Unified School District(f) | ||||
Unlimited General Obligation Bonds | ||||
Election of 2002 - Capital Appreciation | ||||
Series 2006C (AMBAC) | ||||
06/01/2023 | 0.000% | 2,025,000 | 1,987,213 | |
06/01/2024 | 0.000% | 1,925,000 | 1,870,907 | |
Conejo Valley Unified School District | ||||
Unlimited General Obligation Bonds | ||||
Series 2018B | ||||
08/01/2032 | 4.000% | 2,000,000 | 2,365,760 | |
Corona-Norco Unified School District | ||||
Unlimited General Obligation Bonds | ||||
Election 2014 | ||||
Series 2018B | ||||
08/01/2034 | 4.000% | 500,000 | 595,385 | |
Culver City School Facilities Financing Authority | ||||
Revenue Bonds | ||||
Unified School District | ||||
Series 2005 (AGM) | ||||
08/01/2023 | 5.500% | 1,490,000 | 1,704,992 | |
Lodi Unified School District | ||||
Unlimited General Obligation Bonds | ||||
Election of 2016 | ||||
Series 2020 | ||||
08/01/2034 | 4.000% | 750,000 | 879,143 | |
08/01/2035 | 4.000% | 600,000 | 699,522 | |
Long Beach Unified School District(f) | ||||
Unlimited General Obligation Bonds | ||||
Series 2015D-1 | ||||
08/01/2031 | 0.000% | 1,375,000 | 998,099 |
Columbia California Intermediate Municipal Bond Fund | Semiannual Report 2020 | 9 |
October 31, 2020 (Unaudited)
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Los Angeles Unified School District | ||||
Unlimited General Obligation Bonds | ||||
Election 2008 | ||||
Series 2018B-1 | ||||
07/01/2032 | 5.000% | 4,000,000 | 5,020,280 | |
Monterey Peninsula Community College District(f) | ||||
Unlimited General Obligation Refunding Bonds | ||||
Series 2016 | ||||
08/01/2028 | 0.000% | 2,125,000 | 1,868,236 | |
Napa Valley Community College District(g) | ||||
Unlimited General Obligation Refunding Bonds | ||||
Series 2018 | ||||
08/01/2034 | 0.000% | 1,595,000 | 1,767,675 | |
Oakland Unified School District/Alameda County | ||||
Unlimited General Obligation Bonds | ||||
Series 2015A | ||||
08/01/2025 | 5.000% | 650,000 | 778,817 | |
Palomar Community College District(f) | ||||
Unlimited General Obligation Bonds | ||||
Capital Appreciation-Election of 2006 | ||||
Series 2010B | ||||
08/01/2022 | 0.000% | 2,140,000 | 2,124,271 | |
Pomona Unified School District(f) | ||||
Unlimited General Obligation Bonds | ||||
Election 2008 | ||||
Series 2016G (AGM) | ||||
08/01/2032 | 0.000% | 1,000,000 | 733,890 | |
Rancho Santiago Community College District(f) | ||||
Unlimited General Obligation Bonds | ||||
Capital Appreciation-Election of 2002 | ||||
Series 2006C (AGM) | ||||
09/01/2031 | 0.000% | 3,785,000 | 3,147,871 | |
Rescue Union School District(f) | ||||
Unlimited General Obligation Bonds | ||||
Capital Appreciation-Election of 1998 | ||||
Series 2005 (NPFGC) | ||||
09/01/2026 | 0.000% | 1,100,000 | 1,036,189 | |
San Diego Unified School District | ||||
Unlimited General Obligation Bonds | ||||
Series 2020D-2 | ||||
07/01/2035 | 4.000% | 1,000,000 | 1,235,380 | |
Santa Monica Community College District | ||||
Unlimited General Obligation Bonds | ||||
Election 2016 | ||||
Series 2018A | ||||
08/01/2034 | 4.000% | 500,000 | 598,225 | |
Saugus Union School District | ||||
Unlimited General Obligation Refunding Bonds | ||||
Series 2006 (NPFGC) | ||||
08/01/2021 | 5.250% | 2,375,000 | 2,464,157 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Sierra Kings Health Care District | ||||
Unlimited General Obligation Refunding Bonds | ||||
Series 2015 | ||||
08/01/2028 | 5.000% | 1,000,000 | 1,139,930 | |
08/01/2032 | 5.000% | 1,500,000 | 1,682,385 | |
Total | 38,906,622 | |||
Multi-Family 1.0% | ||||
California Housing Finance | ||||
Revenue Bonds | ||||
Series 2019-2 Class A | ||||
03/20/2033 | 4.000% | 1,184,939 | 1,302,402 | |
California Municipal Finance Authority | ||||
Revenue Bonds | ||||
Bowles Hall Foundation | ||||
Series 2015A | ||||
06/01/2035 | 5.000% | 400,000 | 424,580 | |
Caritas Affordable Housing | ||||
Series 2014 | ||||
08/15/2030 | 5.000% | 1,000,000 | 1,111,080 | |
California Statewide Communities Development Authority | ||||
Revenue Bonds | ||||
Lancer Educational Student Housing Project | ||||
Series 2019 | ||||
06/01/2034 | 5.000% | 375,000 | 397,519 | |
Series 2017 | ||||
05/15/2032 | 5.000% | 1,000,000 | 1,140,120 | |
Total | 4,375,701 | |||
Municipal Power 5.6% | ||||
City of Redding Electric System | ||||
Refunding Revenue Bonds | ||||
Series 2017 | ||||
06/01/2029 | 5.000% | 1,250,000 | 1,571,850 | |
City of Riverside Electric | ||||
Refunding Revenue Bonds | ||||
Series 2019A | ||||
10/01/2037 | 5.000% | 1,000,000 | 1,276,250 | |
Imperial Irrigation District Electric System | ||||
Refunding Revenue Bonds | ||||
Series 2011D | ||||
11/01/2022 | 5.000% | 2,860,000 | 2,993,962 | |
11/01/2023 | 5.000% | 1,040,000 | 1,088,610 | |
Los Angeles Department of Water & Power System | ||||
Refunding Revenue Bonds | ||||
Series 2018A | ||||
07/01/2035 | 5.000% | 1,750,000 | 2,203,898 | |
Series 2019B | ||||
07/01/2031 | 5.000% | 5,000,000 | 6,551,700 |
10 | Columbia California Intermediate Municipal Bond Fund | Semiannual Report 2020 |
October 31, 2020 (Unaudited)
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Revenue Bonds | ||||
Power System | ||||
Series 2014D | ||||
07/01/2033 | 5.000% | 1,700,000 | 1,964,418 | |
Redding Joint Powers Financing Authority | ||||
Refunding Revenue Bonds | ||||
Series 2015A | ||||
06/01/2031 | 5.000% | 1,045,000 | 1,267,031 | |
Sacramento Municipal Utility District | ||||
Revenue Bonds | ||||
Electric | ||||
Series 2020H | ||||
08/15/2033 | 5.000% | 2,000,000 | 2,691,920 | |
Turlock Irrigation District | ||||
Refunding Revenue Bonds | ||||
First Priority | ||||
Subordinated Series 2014 | ||||
01/01/2030 | 5.000% | 850,000 | 985,558 | |
01/01/2031 | 5.000% | 1,000,000 | 1,157,500 | |
Series 2020 | ||||
01/01/2038 | 5.000% | 1,650,000 | 2,133,813 | |
Total | 25,886,510 | |||
Other Bond Issue 1.2% | ||||
California Infrastructure & Economic Development Bank | ||||
Refunding Revenue Bonds | ||||
Salvation Army Western Territory (The) | ||||
Series 2016 | ||||
09/01/2033 | 4.000% | 400,000 | 442,456 | |
09/01/2034 | 4.000% | 600,000 | 660,642 | |
Walt Disney Family Museum | ||||
Series 2016 | ||||
02/01/2032 | 4.000% | 350,000 | 387,702 | |
02/01/2033 | 4.000% | 500,000 | 551,655 | |
City of Long Beach Marina System | ||||
Revenue Bonds | ||||
Series 2015 | ||||
05/15/2028 | 5.000% | 635,000 | 709,987 | |
County of San Diego | ||||
Refunding Revenue Bonds | ||||
Sanford Burnham Prebys Medical Discovery Group | ||||
Series 2015 | ||||
11/01/2025 | 5.000% | 350,000 | 427,675 | |
Long Beach Bond Finance Authority | ||||
Refunding Revenue Bonds | ||||
Aquarium of the Pacific | ||||
Series 2012 | ||||
11/01/2027 | 5.000% | 2,210,000 | 2,308,080 | |
Total | 5,488,197 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Pool / Bond Bank 0.6% | ||||
California Infrastructure & Economic Development Bank | ||||
Revenue Bonds | ||||
Green Bonds | ||||
Series 2019 | ||||
10/01/2031 | 5.000% | 2,120,000 | 2,788,648 | |
Ports 2.9% | ||||
City of Long Beach Harbor(c) | ||||
Refunding Revenue Bonds | ||||
Private Activity | ||||
Series 2020B | ||||
05/15/2024 | 5.000% | 5,000,000 | 5,740,100 | |
City of Long Beach Harbor | ||||
Revenue Bonds | ||||
Series 2019A | ||||
05/15/2036 | 5.000% | 700,000 | 877,919 | |
Port Commission of the City & County of San Francisco | ||||
Refunding Revenue Bonds | ||||
Series 2020A | ||||
03/01/2037 | 4.000% | 315,000 | 372,563 | |
03/01/2038 | 4.000% | 405,000 | 476,596 | |
03/01/2039 | 4.000% | 1,260,000 | 1,477,804 | |
Port of Los Angeles(c) | ||||
Refunding Revenue Bonds | ||||
Private Activity | ||||
Series 2019A | ||||
08/01/2025 | 5.000% | 1,750,000 | 2,095,922 | |
San Diego Unified Port District | ||||
Refunding Revenue Bonds | ||||
Series 2013A | ||||
09/01/2027 | 5.000% | 1,000,000 | 1,112,700 | |
09/01/2028 | 5.000% | 1,100,000 | 1,219,394 | |
Total | 13,372,998 | |||
Prepaid Gas 0.5% | ||||
M-S-R Energy Authority | ||||
Revenue Bonds | ||||
Series 2009B | ||||
11/01/2029 | 6.125% | 1,970,000 | 2,478,950 | |
Recreation 0.4% | ||||
Del Mar Race Track Authority | ||||
Refunding Revenue Bonds | ||||
Series 2015 | ||||
10/01/2025 | 5.000% | 1,665,000 | 1,689,259 | |
Refunded / Escrowed 7.2% | ||||
California Educational Facilities Authority | ||||
Revenue Bonds | ||||
University of Southern California | ||||
Series 2009C Escrowed to Maturity | ||||
10/01/2024 | 5.250% | 3,000,000 | 3,579,540 |
Columbia California Intermediate Municipal Bond Fund | Semiannual Report 2020 | 11 |
October 31, 2020 (Unaudited)
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
California Health Facilities Financing Authority | ||||
Prerefunded 08/15/21 Revenue Bonds | ||||
Sutter Health Obligation Group | ||||
Series 2011D | ||||
08/15/2026 | 5.000% | 2,250,000 | 2,334,307 | |
City of La Verne | ||||
Prerefunded 05/15/22 Certificate of Participation | ||||
Brethren Hillcrest Homes | ||||
Series 2014 | ||||
05/15/2024 | 5.000% | 310,000 | 335,107 | |
05/15/2025 | 5.000% | 530,000 | 572,925 | |
05/15/2026 | 5.000% | 700,000 | 756,693 | |
05/15/2029 | 5.000% | 1,135,000 | 1,226,924 | |
City of Los Angeles | ||||
Prerefunded 09/01/21 Unlimited General Obligation Bonds | ||||
Series 2011A | ||||
09/01/2025 | 5.000% | 3,000,000 | 3,119,790 | |
City of Newport Beach | ||||
Prerefunded 12/01/21 Revenue Bonds | ||||
Hoag Memorial Hospital Presbyterian | ||||
Series 2011 | ||||
12/01/2030 | 5.875% | 1,000,000 | 1,060,500 | |
City of Santa Clara Electric | ||||
Prerefunded 07/01/21 Revenue Bonds | ||||
Series 2011A | ||||
07/01/2029 | 5.375% | 1,000,000 | 1,033,830 | |
Long Beach Community College District | ||||
Prerefunded 08/01/22 Unlimited General Obligation Bonds | ||||
2008 Election | ||||
Series 2012B | ||||
08/01/2023 | 5.000% | 700,000 | 758,352 | |
Pasadena Public Financing Authority | ||||
Prerefunded 03/01/21 Revenue Bonds | ||||
Rose Bowl Renovation | ||||
Series 2010A | ||||
03/01/2026 | 5.000% | 2,500,000 | 2,539,875 | |
Poway Unified School District | ||||
Prerefunded 09/01/22 Special Tax Bonds | ||||
Community Facilities District No. 6-4S Ranch | ||||
Series 2012 | ||||
09/01/2028 | 5.000% | 1,770,000 | 1,922,875 | |
San Francisco City & County Airport Commission - San Francisco International Airport | ||||
Prerefunded 05/03/21 Revenue Bonds | ||||
Series 2011-2 | ||||
05/01/2026 | 5.250% | 1,445,000 | 1,480,865 | |
Semitropic Improvement District | ||||
Prerefunded 12/01/22 Revenue Bonds | ||||
Series 2012A | ||||
12/01/2023 | 5.000% | 2,850,000 | 3,122,232 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
State of California | ||||
Prerefunded 11/01/20 Unlimited General Obligation Bonds | ||||
Series 2010 | ||||
11/01/2024 | 5.000% | 2,500,000 | 2,500,000 | |
Sulphur Springs Union School District | ||||
Prerefunded 09/01/22 Special Tax Bonds | ||||
Community Facilities District | ||||
Series 2012 | ||||
09/01/2028 | 5.000% | 520,000 | 563,914 | |
09/01/2029 | 5.000% | 585,000 | 634,403 | |
West Contra Costa Unified School District | ||||
Prerefunded 08/01/21 Unlimited General Obligation Bonds | ||||
Series 2011 (AGM) | ||||
08/01/2023 | 5.250% | 3,000,000 | 3,112,410 | |
Prerefunded 08/01/22 Unlimited General Obligation Bonds | ||||
Series 2012 | ||||
08/01/2027 | 5.000% | 2,365,000 | 2,559,970 | |
Total | 33,214,512 | |||
Retirement Communities 5.1% | ||||
ABAG Finance Authority for Nonprofit Corps. | ||||
Refunding Revenue Bonds | ||||
Episcopal Senior Communities | ||||
Series 2011 | ||||
07/01/2024 | 5.375% | 2,795,000 | 2,847,406 | |
Series 2012 | ||||
07/01/2021 | 5.000% | 1,000,000 | 1,018,460 | |
Revenue Bonds | ||||
Odd Fellows Home of California | ||||
Series 2012-A | ||||
04/01/2032 | 5.000% | 4,750,000 | 5,177,547 | |
California Health Facilities Financing Authority | ||||
Refunding Revenue Bonds | ||||
Northern California Presbyterian Homes | ||||
Series 2015 | ||||
07/01/2028 | 5.000% | 310,000 | 366,699 | |
07/01/2029 | 5.000% | 300,000 | 353,520 | |
California Municipal Finance Authority | ||||
Refunding Revenue Bonds | ||||
HumanGood Obligation Group | ||||
Series 2019A | ||||
10/01/2034 | 4.000% | 500,000 | 550,495 | |
10/01/2035 | 4.000% | 1,000,000 | 1,098,080 | |
Mt. San Antonio Gardens Project | ||||
Series 2019 | ||||
11/15/2039 | 5.000% | 1,000,000 | 1,099,430 | |
Retirement Housing Foundation | ||||
Series 2017 | ||||
11/15/2029 | 5.000% | 390,000 | 456,702 | |
11/15/2030 | 5.000% | 600,000 | 708,432 | |
11/15/2032 | 5.000% | 850,000 | 1,011,169 |
12 | Columbia California Intermediate Municipal Bond Fund | Semiannual Report 2020 |
October 31, 2020 (Unaudited)
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
California Statewide Communities Development Authority | ||||
Refunding Revenue Bonds | ||||
American Baptist Homes West | ||||
Series 2015 | ||||
10/01/2024 | 5.000% | 2,575,000 | 2,887,914 | |
10/01/2026 | 5.000% | 1,000,000 | 1,142,160 | |
Episcopal Communities and Services | ||||
Series 2012 | ||||
05/15/2027 | 5.000% | 1,520,000 | 1,594,541 | |
Front Porch Communities & Services | ||||
Series 2017 | ||||
04/01/2030 | 5.000% | 150,000 | 176,595 | |
Revenue Bonds | ||||
Insured Redwoods Project | ||||
Series 2013 | ||||
11/15/2028 | 5.000% | 1,000,000 | 1,138,350 | |
Viamonte Senior Living 1, Inc. | ||||
Series 2018 | ||||
07/01/2035 | 4.000% | 300,000 | 341,547 | |
07/01/2036 | 4.000% | 430,000 | 487,732 | |
Los Angeles County Regional Financing Authority | ||||
Revenue Bonds | ||||
Montecedro, Inc. Project | ||||
Series 2014A | ||||
11/15/2034 | 5.000% | 1,000,000 | 1,077,400 | |
Total | 23,534,179 | |||
Sales Tax 1.1% | ||||
California Statewide Communities Development Authority | ||||
Certificate of Participation | ||||
Total Road Improvement Program | ||||
Series 2018B (AGM) | ||||
12/01/2035 | 5.000% | 1,405,000 | 1,755,800 | |
City of Sacramento Transient Occupancy | ||||
Revenue Bonds | ||||
Convention Center Complex | ||||
Subordinated Series 2018 | ||||
06/01/2035 | 5.000% | 615,000 | 706,186 | |
06/01/2036 | 5.000% | 1,180,000 | 1,348,410 | |
Los Angeles County Metropolitan Transportation Authority | ||||
Revenue Bonds | ||||
Junior Green Bonds | ||||
Series 2020 | ||||
06/01/2037 | 4.000% | 1,000,000 | 1,196,820 | |
Total | 5,007,216 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Special Non Property Tax 0.2% | ||||
Berkeley Joint Powers Financing Authority | ||||
Revenue Bonds | ||||
Series 2016 (BAM) | ||||
06/01/2033 | 4.000% | 415,000 | 457,874 | |
06/01/2034 | 4.000% | 250,000 | 275,190 | |
Total | 733,064 | |||
Special Property Tax 14.2% | ||||
Carson Public Financing Authority | ||||
Revenue Bonds | ||||
Series 2019 | ||||
09/02/2026 | 5.000% | 650,000 | 779,798 | |
Chino Public Financing Authority | ||||
Refunding Special Tax Bonds | ||||
Series 2012 | ||||
09/01/2023 | 5.000% | 1,070,000 | 1,148,046 | |
City of Irvine | ||||
Refunding Special Assessment Bonds | ||||
Limited Obligation Reassessment District | ||||
Series 2015 | ||||
09/02/2025 | 5.000% | 1,295,000 | 1,562,715 | |
Special Assessment Refunding Bonds | ||||
Series 2019 | ||||
09/02/2031 | 5.000% | 325,000 | 424,375 | |
09/02/2032 | 5.000% | 340,000 | 439,093 | |
Concord Redevelopment Agency Successor Agency | ||||
Refunding Tax Allocation Bonds | ||||
Series 2014 (BAM) | ||||
03/01/2025 | 5.000% | 840,000 | 1,000,154 | |
County of El Dorado | ||||
Refunding Special Tax Bonds | ||||
Community Facilities District No. 92-1 | ||||
Series 2012 | ||||
09/01/2026 | 5.000% | 625,000 | 679,162 | |
09/01/2027 | 5.000% | 800,000 | 868,560 | |
Emeryville Redevelopment Agency Successor Agency | ||||
Refunding Tax Allocation Bonds | ||||
Series 2014A (AGM) | ||||
09/01/2023 | 5.000% | 2,415,000 | 2,720,208 | |
09/01/2026 | 5.000% | 1,000,000 | 1,161,370 | |
09/01/2027 | 5.000% | 1,000,000 | 1,157,150 | |
09/01/2030 | 5.000% | 815,000 | 935,840 | |
09/01/2031 | 5.000% | 590,000 | 676,494 | |
Garden Grove Agency Community Development Successor Agency | ||||
Refunding Tax Allocation Bonds | ||||
Garden Grove Community Project | ||||
Series 2016 (BAM) | ||||
10/01/2030 | 5.000% | 1,040,000 | 1,247,938 | |
10/01/2031 | 5.000% | 1,640,000 | 1,960,194 |
Columbia California Intermediate Municipal Bond Fund | Semiannual Report 2020 | 13 |
October 31, 2020 (Unaudited)
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Glendale Redevelopment Agency Successor Agency | ||||
Refunding Tax Allocation Bonds | ||||
Central Glendale Redevelopment | ||||
Subordinated Series 2013 (AGM) | ||||
12/01/2021 | 5.000% | 755,000 | 792,735 | |
Inglewood Redevelopment Agency Successor Agency | ||||
Refunding Tax Allocation Bonds | ||||
Merged Redevelopment Project | ||||
Subordinated Series 2017 (BAM) | ||||
05/01/2032 | 5.000% | 500,000 | 604,190 | |
05/01/2033 | 5.000% | 1,000,000 | 1,203,070 | |
Irvine Unified School District | ||||
Refunding Special Tax Bonds | ||||
Series 2015 | ||||
09/01/2030 | 5.000% | 2,065,000 | 2,392,220 | |
09/01/2031 | 5.000% | 2,720,000 | 3,137,221 | |
Jurupa Public Financing Authority | ||||
Refunding Special Tax Bonds | ||||
Series 2014A | ||||
09/01/2029 | 5.000% | 530,000 | 605,488 | |
09/01/2030 | 5.000% | 625,000 | 712,356 | |
09/01/2032 | 5.000% | 625,000 | 708,106 | |
La Quinta Redevelopment Agency Successor Agency | ||||
Refunding Tax Allocation Bonds | ||||
Redevelopment Project | ||||
Subordinated Series 2013A | ||||
09/01/2030 | 5.000% | 1,500,000 | 1,662,480 | |
Los Angeles Community Facilities District | ||||
Refunding Special Tax Bonds | ||||
Playa Vista-Phase 1 | ||||
Series 2014 | ||||
09/01/2030 | 5.000% | 985,000 | 1,143,930 | |
Los Angeles County Redevelopment Authority | ||||
Refunding Tax Allocation Bonds | ||||
Los Angeles Bunker Hill Project | ||||
Series 2014C (AGM) | ||||
12/01/2028 | 5.000% | 6,060,000 | 7,049,537 | |
Oakland Redevelopment Successor Agency | ||||
Subordinated Refunding Tax Allocation Bonds | ||||
Series 2013 | ||||
09/01/2022 | 5.000% | 2,000,000 | 2,157,420 | |
Oakley Redevelopment Agency | ||||
Refunding Tax Allocation Bonds | ||||
Oakley Redevelopment Project Area | ||||
Series 2018 (BAM) | ||||
09/01/2032 | 5.000% | 335,000 | 418,814 | |
09/01/2033 | 5.000% | 730,000 | 905,390 | |
09/01/2034 | 5.000% | 500,000 | 618,570 | |
Palm Desert Redevelopment Agency | ||||
Refunding Tax Allocation Bonds | ||||
Series 2017A (BAM) | ||||
10/01/2029 | 5.000% | 890,000 | 1,089,289 | |
10/01/2030 | 5.000% | 350,000 | 426,394 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Poway Unified School District | ||||
Special Tax Bonds | ||||
Community Facilities District No. 6-4S Ranch | ||||
Series 2012 | ||||
09/01/2029 | 5.000% | 1,195,000 | 1,298,212 | |
Poway Unified School District Public Financing Authority | ||||
Special Tax Refunding Bonds | ||||
Series 2015B | ||||
09/01/2026 | 5.000% | 995,000 | 1,216,527 | |
Rancho Cucamonga Redevelopment Agency Successor Agency | ||||
Tax Allocation Bonds | ||||
Rancho Redevelopment Project Area | ||||
Series 2014 | ||||
09/01/2030 | 5.000% | 700,000 | 803,789 | |
Series 2014 (AGM) | ||||
09/01/2027 | 5.000% | 2,200,000 | 2,545,730 | |
Riverside County Public Financing Authority | ||||
Tax Allocation Bonds | ||||
Project Area #1-Desert Communities | ||||
Series 2016 (BAM) | ||||
10/01/2031 | 4.000% | 2,500,000 | 2,782,725 | |
San Francisco City & County Redevelopment Agency | ||||
Refunding Tax Allocation Bonds | ||||
Mission Bay North Redevelopment Project | ||||
Series 2016 | ||||
08/01/2030 | 5.000% | 275,000 | 333,140 | |
08/01/2031 | 5.000% | 355,000 | 428,283 | |
Mission Bay South Redevelopment Project | ||||
Series 2016 | ||||
08/01/2031 | 5.000% | 670,000 | 808,308 | |
08/01/2032 | 5.000% | 580,000 | 696,603 | |
Tax Allocation Bonds | ||||
Mission Bay South Redevelopment Project | ||||
Series 2014A | ||||
08/01/2029 | 5.000% | 225,000 | 257,166 | |
08/01/2030 | 5.000% | 175,000 | 199,399 | |
San Mateo Redevelopment Agency Successor Agency | ||||
Refunding Tax Allocation Bonds | ||||
Series 2015A | ||||
08/01/2028 | 5.000% | 1,860,000 | 2,183,026 | |
08/01/2029 | 5.000% | 1,000,000 | 1,167,550 | |
Semitropic Improvement District | ||||
Refunding Revenue Bonds | ||||
Series 2015A 2nd Lien (AGM) | ||||
12/01/2023 | 5.000% | 300,000 | 343,992 | |
12/01/2024 | 5.000% | 400,000 | 477,528 | |
Sulphur Springs Union School District | ||||
Unrefunded Special Tax Bonds | ||||
Community Facilities District | ||||
Series 2012 | ||||
09/01/2028 | 5.000% | 530,000 | 573,391 | |
09/01/2029 | 5.000% | 595,000 | 643,481 |
14 | Columbia California Intermediate Municipal Bond Fund | Semiannual Report 2020 |
October 31, 2020 (Unaudited)
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Transbay Joint Powers Authority | ||||
Senior Tax Allocation Bonds | ||||
Green Bonds | ||||
Series 2020A | ||||
10/01/2033 | 5.000% | 500,000 | 636,790 | |
Tustin Community Facilities District | ||||
Refunding Special Tax Bonds | ||||
Legacy Villages of Columbus #06-1 | ||||
Series 2015 | ||||
09/01/2029 | 5.000% | 1,200,000 | 1,416,792 | |
Tustin Community Redevelopment Agency Successor Agency | ||||
Refunding Tax Allocation Bonds | ||||
Series 2016 | ||||
09/01/2032 | 4.000% | 2,295,000 | 2,592,363 | |
Vista Redevelopment Agency Successor Agency | ||||
Tax Allocation Refunding Bonds | ||||
Series 2015B1 (AGM) | ||||
09/01/2024 | 5.000% | 580,000 | 678,490 | |
09/01/2026 | 5.000% | 700,000 | 834,624 | |
Total | 65,306,216 | |||
State Appropriated 3.5% | ||||
California State Public Works Board | ||||
Refunding Revenue Bonds | ||||
Various Capital Projects | ||||
Series 2012G | ||||
11/01/2028 | 5.000% | 1,500,000 | 1,631,985 | |
Series 2020C | ||||
03/01/2033 | 5.000% | 1,800,000 | 2,358,360 | |
Revenue Bonds | ||||
Department of Corrections and Rehabilitation | ||||
Series 2014C | ||||
10/01/2022 | 5.000% | 1,925,000 | 2,100,387 | |
Series 2015A | ||||
06/01/2028 | 5.000% | 1,175,000 | 1,404,489 | |
Various Capital Projects | ||||
Series 2013I | ||||
11/01/2028 | 5.250% | 3,000,000 | 3,416,730 | |
Series 2014E | ||||
09/01/2030 | 5.000% | 1,500,000 | 1,747,260 | |
Various Correctional Facilities | ||||
Series 2014A | ||||
09/01/2031 | 5.000% | 3,000,000 | 3,490,830 | |
Total | 16,150,041 | |||
State General Obligation 2.3% | ||||
State of California | ||||
Unlimited General Obligation Bonds | ||||
Series 2019 | ||||
04/01/2031 | 5.000% | 1,000,000 | 1,306,350 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Series 2020 | ||||
11/01/2034 | 4.000% | 1,000,000 | 1,218,710 | |
Unlimited General Obligation Refunding Bonds | ||||
Series 2014 | ||||
08/01/2032 | 5.000% | 3,000,000 | 3,488,970 | |
Series 2019 | ||||
10/01/2025 | 5.000% | 2,435,000 | 2,977,761 | |
Various Purpose | ||||
Series 2020 | ||||
03/01/2033 | 5.000% | 1,000,000 | 1,314,280 | |
Total | 10,306,071 | |||
Tobacco 3.3% | ||||
California County Tobacco Securitization Agency | ||||
Refunding Revenue Bonds | ||||
Series 2020A | ||||
06/01/2030 | 5.000% | 250,000 | 330,405 | |
06/01/2032 | 5.000% | 250,000 | 323,655 | |
06/01/2033 | 5.000% | 250,000 | 320,342 | |
06/01/2034 | 4.000% | 200,000 | 236,810 | |
Golden State Tobacco Securitization Corp. | ||||
Asset-Backed Refunding Revenue Bonds | ||||
Series 2015A | ||||
06/01/2033 | 5.000% | 4,000,000 | 4,670,920 | |
Refunding Revenue Bonds | ||||
Series 2017A-1 | ||||
06/01/2024 | 5.000% | 4,000,000 | 4,600,720 | |
Series 2018A | ||||
06/01/2022 | 5.000% | 3,000,000 | 3,221,760 | |
Tobacco Securitization Authority of Southern California | ||||
Refunding Revenue Bonds | ||||
San Diego County Tobacco Asset Securitization Corp. | ||||
Series 2019 | ||||
06/01/2030 | 5.000% | 1,220,000 | 1,604,166 | |
Total | 15,308,778 | |||
Transportation 0.5% | ||||
Peninsula Corridor Joint Powers Board | ||||
Refunding Revenue Bonds | ||||
Series 2019A | ||||
10/01/2036 | 5.000% | 315,000 | 380,413 | |
10/01/2037 | 5.000% | 300,000 | 361,095 | |
San Diego Association of Governments | ||||
Revenue Bonds | ||||
Green Bonds - Mid Coast Corridor | ||||
Series 2019 | ||||
11/15/2027 | 1.800% | 1,500,000 | 1,538,100 | |
Total | 2,279,608 |
Columbia California Intermediate Municipal Bond Fund | Semiannual Report 2020 | 15 |
October 31, 2020 (Unaudited)
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Turnpike / Bridge / Toll Road 2.0% | ||||
Bay Area Toll Authority | ||||
Refunding Revenue Bonds | ||||
Subordinated Series 2017 | ||||
04/01/2031 | 4.000% | 2,000,000 | 2,335,720 | |
Foothill-Eastern Transportation Corridor Agency(f) | ||||
Refunding Revenue Bonds | ||||
Series 2015 | ||||
01/15/2033 | 0.000% | 5,000,000 | 3,449,250 | |
Foothill-Eastern Transportation Corridor Agency | ||||
Subordinated Refunding Revenue Bonds | ||||
Series 2014B-3 (Mandatory Put 01/15/23) | ||||
01/15/2053 | 5.500% | 3,000,000 | 3,224,340 | |
Total | 9,009,310 | |||
Water & Sewer 3.2% | ||||
Beaumont Public Improvement Authority | ||||
Revenue Bonds | ||||
Series 2018-A (AGM) | ||||
09/01/2033 | 5.000% | 500,000 | 610,840 | |
09/01/2035 | 5.000% | 830,000 | 1,009,554 | |
City of Riverside Water | ||||
Refunding Revenue Bonds | ||||
Series 2019A | ||||
10/01/2032 | 5.000% | 1,500,000 | 1,977,810 | |
City of Tulare Sewer | ||||
Refunding Revenue Bonds | ||||
Series 2015 (AGM) | ||||
11/15/2025 | 5.000% | 700,000 | 846,573 | |
11/15/2026 | 5.000% | 1,000,000 | 1,206,640 | |
Livermore Valley Water Financing Authority | ||||
Refunding Revenue Bonds | ||||
Series 2018A | ||||
07/01/2034 | 4.000% | 920,000 | 1,070,337 | |
Los Angeles County Sanitation Districts Financing Authority | ||||
Subordinated Refunding Revenue Bonds | ||||
Capital Projects - District #14 | ||||
Series 2015 | ||||
10/01/2024 | 5.000% | 1,050,000 | 1,245,531 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Mountain House Public Financing Authority | ||||
Revenue Bonds | ||||
Green Bonds | ||||
Subordinated Series 2020B (BAM) | ||||
12/01/2035 | 4.000% | 1,000,000 | 1,151,030 | |
Santa Paula Utility Authority | ||||
Refunding Revenue Bonds | ||||
Series 2019 (AGM) | ||||
02/01/2034 | 4.000% | 575,000 | 670,237 | |
02/01/2036 | 4.000% | 1,325,000 | 1,528,666 | |
Stockton Public Financing Authority | ||||
Refunding Revenue Bonds | ||||
Series 2014 (BAM) | ||||
09/01/2028 | 5.000% | 1,500,000 | 1,712,535 | |
Union Sanitary District Financing Author | ||||
Revenue Bonds | ||||
Series 2020A | ||||
09/01/2037 | 4.000% | 400,000 | 477,932 | |
09/01/2038 | 4.000% | 325,000 | 386,386 | |
09/01/2039 | 4.000% | 600,000 | 710,988 | |
Total | 14,605,059 | |||
Total Municipal Bonds (Cost $427,996,263) | 453,862,837 |
Money Market Funds 0.1% | ||
Shares | Value ($) | |
Dreyfus AMT-Free Tax Exempt Cash Management Fund, Institutional Shares, 0.010%(h) | 147,810 | 147,795 |
JPMorgan Institutional Tax Free Money Market Fund, Institutional Shares, 0.012%(h) | 107,496 | 107,496 |
Total Money Market Funds (Cost $255,306) | 255,291 | |
Total Investments in Securities (Cost: $433,536,569) | 459,403,128 | |
Other Assets & Liabilities, Net | (411,487) | |
Net Assets | 458,991,641 |
(a) | The Fund is entitled to receive principal and interest from the guarantor after a day or a week’s notice or upon maturity. The maturity date disclosed represents the final maturity. |
(b) | Represents a variable rate security where the coupon rate adjusts on specified dates (generally daily or weekly) using the prevailing money market rate. The interest rate shown was the current rate as of October 31, 2020. |
(c) | Income from this security may be subject to alternative minimum tax. |
(d) | Represents privately placed and other securities and instruments exempt from Securities and Exchange Commission registration (collectively, private placements), such as Section 4(a)(2) and Rule 144A eligible securities, which are often sold only to qualified institutional buyers. At October 31, 2020, the total value of these securities amounted to $20,443,271, which represents 4.45% of total net assets. |
(e) | Represents a security purchased on a when-issued basis. |
(f) | Zero coupon bond. |
16 | Columbia California Intermediate Municipal Bond Fund | Semiannual Report 2020 |
October 31, 2020 (Unaudited)
(g) | Represents a variable rate security with a step coupon where the rate adjusts according to a schedule for a series of periods, typically lower for an initial period and then increasing to a higher coupon rate thereafter. The interest rate shown was the current rate as of October 31, 2020. |
(h) | The rate shown is the seven-day current annualized yield at October 31, 2020. |
AGM | Assured Guaranty Municipal Corporation |
AMBAC | Ambac Assurance Corporation |
BAM | Build America Mutual Assurance Co. |
BAN | Bond Anticipation Note |
NPFGC | National Public Finance Guarantee Corporation |
■ | Level 1 — Valuations based on quoted prices for investments in active markets that the Fund has the ability to access at the measurement date. Valuation adjustments are not applied to Level 1 investments. |
■ | Level 2 — Valuations based on other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risks, etc.). |
■ | Level 3 — Valuations based on significant unobservable inputs (including the Fund’s own assumptions and judgment in determining the fair value of investments). |
Level 1 ($) | Level 2 ($) | Level 3 ($) | Total ($) | |
Investments in Securities | ||||
Floating Rate Notes | — | 5,285,000 | — | 5,285,000 |
Municipal Bonds | — | 453,862,837 | — | 453,862,837 |
Money Market Funds | 255,291 | — | — | 255,291 |
Total Investments in Securities | 255,291 | 459,147,837 | — | 459,403,128 |
Columbia California Intermediate Municipal Bond Fund | Semiannual Report 2020 | 17 |
October 31, 2020 (Unaudited)
Assets | |
Investments in securities, at value | |
Unaffiliated issuers (cost $433,536,569) | $459,403,128 |
Cash | 1,262 |
Receivable for: | |
Investments sold | 251,353 |
Capital shares sold | 943,796 |
Interest | 5,077,983 |
Expense reimbursement due from Investment Manager | 1,387 |
Prepaid expenses | 3,385 |
Other assets | 2,626 |
Total assets | 465,684,920 |
Liabilities | |
Payable for: | |
Investments purchased on a delayed delivery basis | 2,856,245 |
Capital shares purchased | 2,739,952 |
Distributions to shareholders | 933,020 |
Management services fees | 5,888 |
Distribution and/or service fees | 447 |
Transfer agent fees | 45,497 |
Compensation of board members | 87,297 |
Compensation of chief compliance officer | 46 |
Other expenses | 24,887 |
Total liabilities | 6,693,279 |
Net assets applicable to outstanding capital stock | $458,991,641 |
Represented by | |
Paid in capital | 438,043,611 |
Total distributable earnings (loss) | 20,948,030 |
Total - representing net assets applicable to outstanding capital stock | $458,991,641 |
Class A | |
Net assets | $32,248,995 |
Shares outstanding | 3,035,826 |
Net asset value per share | $10.62 |
Maximum sales charge | 3.00% |
Maximum offering price per share (calculated by dividing the net asset value per share by 1.0 minus the maximum sales charge for Class A shares) | $10.95 |
Advisor Class | |
Net assets | $2,837,886 |
Shares outstanding | 267,900 |
Net asset value per share | $10.59 |
Class C | |
Net assets | $8,415,072 |
Shares outstanding | 792,645 |
Net asset value per share | $10.62 |
Institutional Class | |
Net assets | $398,462,301 |
Shares outstanding | 37,594,176 |
Net asset value per share | $10.60 |
Institutional 2 Class | |
Net assets | $12,137,207 |
Shares outstanding | 1,148,560 |
Net asset value per share | $10.57 |
Institutional 3 Class | |
Net assets | $4,890,180 |
Shares outstanding | 461,705 |
Net asset value per share | $10.59 |
18 | Columbia California Intermediate Municipal Bond Fund | Semiannual Report 2020 |
Six Months Ended October 31, 2020 (Unaudited)
Net investment income | |
Income: | |
Dividends — unaffiliated issuers | $6,612 |
Interest | 6,633,056 |
Total income | 6,639,668 |
Expenses: | |
Management services fees | 1,076,478 |
Distribution and/or service fees | |
Class A | 40,477 |
Class C | 47,519 |
Transfer agent fees | |
Class A | 18,877 |
Advisor Class | 1,473 |
Class C | 5,543 |
Institutional Class | 232,612 |
Institutional 2 Class | 3,323 |
Institutional 3 Class | 311 |
Compensation of board members | 25,133 |
Custodian fees | 1,453 |
Printing and postage fees | 6,758 |
Registration fees | 10,049 |
Audit fees | 14,790 |
Legal fees | 7,036 |
Compensation of chief compliance officer | 46 |
Other | 7,231 |
Total expenses | 1,499,109 |
Fees waived or expenses reimbursed by Investment Manager and its affiliates | (272,011) |
Expense reduction | (20) |
Total net expenses | 1,227,078 |
Net investment income | 5,412,590 |
Realized and unrealized gain (loss) — net | |
Net realized gain (loss) on: | |
Investments — unaffiliated issuers | (13,890) |
Net realized loss | (13,890) |
Net change in unrealized appreciation (depreciation) on: | |
Investments — unaffiliated issuers | 16,531,359 |
Net change in unrealized appreciation (depreciation) | 16,531,359 |
Net realized and unrealized gain | 16,517,469 |
Net increase in net assets resulting from operations | $21,930,059 |
Columbia California Intermediate Municipal Bond Fund | Semiannual Report 2020 | 19 |
Six Months Ended October 31, 2020 (Unaudited) | Year Ended April 30, 2020 | |
Operations | ||
Net investment income | $5,412,590 | $11,007,834 |
Net realized loss | (13,890) | (402,775) |
Net change in unrealized appreciation (depreciation) | 16,531,359 | (10,259,961) |
Net increase in net assets resulting from operations | 21,930,059 | 345,098 |
Distributions to shareholders | ||
Net investment income and net realized gains | ||
Class A | (348,920) | (725,273) |
Advisor Class | (30,480) | (69,934) |
Class C | (66,472) | (170,563) |
Institutional Class | (4,801,111) | (9,604,298) |
Institutional 2 Class | (138,183) | (323,534) |
Institutional 3 Class | (70,659) | (114,507) |
Total distributions to shareholders | (5,455,825) | (11,008,109) |
Increase (decrease) in net assets from capital stock activity | (443,434) | 51,042,670 |
Total increase in net assets | 16,030,800 | 40,379,659 |
Net assets at beginning of period | 442,960,841 | 402,581,182 |
Net assets at end of period | $458,991,641 | $442,960,841 |
20 | Columbia California Intermediate Municipal Bond Fund | Semiannual Report 2020 |
Six Months Ended | Year Ended | |||
October 31, 2020 (Unaudited) | April 30, 2020 | |||
Shares | Dollars ($) | Shares | Dollars ($) | |
Capital stock activity | ||||
Class A | ||||
Subscriptions | 383,258 | 4,076,549 | 913,135 | 9,698,460 |
Distributions reinvested | 28,169 | 299,641 | 59,744 | 635,235 |
Redemptions | (442,809) | (4,694,579) | (964,067) | (10,226,058) |
Net increase (decrease) | (31,382) | (318,389) | 8,812 | 107,637 |
Advisor Class | ||||
Subscriptions | 47,765 | 505,720 | 140,274 | 1,492,366 |
Distributions reinvested | 2,861 | 30,356 | 6,559 | 69,630 |
Redemptions | (13,344) | (140,517) | (132,178) | (1,354,984) |
Net increase | 37,282 | 395,559 | 14,655 | 207,012 |
Class C | ||||
Subscriptions | 16,313 | 172,968 | 87,790 | 927,960 |
Distributions reinvested | 5,192 | 55,202 | 12,229 | 130,000 |
Redemptions | (244,020) | (2,596,469) | (152,244) | (1,606,884) |
Net decrease | (222,515) | (2,368,299) | (52,225) | (548,924) |
Institutional Class | ||||
Subscriptions | 4,374,402 | 46,223,205 | 10,501,340 | 110,653,165 |
Distributions reinvested | 111,806 | 1,186,914 | 221,814 | 2,353,657 |
Redemptions | (4,354,265) | (45,837,464) | (6,146,605) | (64,470,459) |
Net increase | 131,943 | 1,572,655 | 4,576,549 | 48,536,363 |
Institutional 2 Class | ||||
Subscriptions | 161,544 | 1,716,389 | 417,161 | 4,431,416 |
Distributions reinvested | 13,054 | 138,183 | 30,536 | 323,277 |
Redemptions | (90,957) | (952,370) | (407,144) | (4,270,053) |
Net increase | 83,641 | 902,202 | 40,553 | 484,640 |
Institutional 3 Class | ||||
Subscriptions | 98,542 | 1,041,588 | 288,319 | 3,069,271 |
Distributions reinvested | 6,649 | 70,530 | 10,782 | 114,233 |
Redemptions | (163,373) | (1,739,280) | (88,923) | (927,562) |
Net increase (decrease) | (58,182) | (627,162) | 210,178 | 2,255,942 |
Total net increase (decrease) | (59,213) | (443,434) | 4,798,522 | 51,042,670 |
Columbia California Intermediate Municipal Bond Fund | Semiannual Report 2020 | 21 |
Net asset value, beginning of period | Net investment income | Net realized and unrealized gain (loss) | Total from investment operations | Distributions from net investment income | Total distributions to shareholders | |
Class A | ||||||
Six Months Ended 10/31/2020 (Unaudited) | $10.24 | 0.11 | 0.38 | 0.49 | (0.11) | (0.11) |
Year Ended 4/30/2020 | $10.46 | 0.24 | (0.22) | 0.02 | (0.24) | (0.24) |
Year Ended 4/30/2019 | $10.23 | 0.27 | 0.23 | 0.50 | (0.27) | (0.27) |
Year Ended 4/30/2018 | $10.38 | 0.27 | (0.15) | 0.12 | (0.27) | (0.27) |
Year Ended 4/30/2017 | $10.72 | 0.26 | (0.34) | (0.08) | (0.26) | (0.26) |
Year Ended 4/30/2016 | $10.50 | 0.27 | 0.22 | 0.49 | (0.27) | (0.27) |
Advisor Class | ||||||
Six Months Ended 10/31/2020 (Unaudited) | $10.21 | 0.13 | 0.38 | 0.51 | (0.13) | (0.13) |
Year Ended 4/30/2020 | $10.43 | 0.27 | (0.22) | 0.05 | (0.27) | (0.27) |
Year Ended 4/30/2019 | $10.20 | 0.30 | 0.23 | 0.53 | (0.30) | (0.30) |
Year Ended 4/30/2018 | $10.36 | 0.29 | (0.16) | 0.13 | (0.29) | (0.29) |
Year Ended 4/30/2017 | $10.69 | 0.29 | (0.33) | (0.04) | (0.29) | (0.29) |
Year Ended 4/30/2016 | $10.46 | 0.29 | 0.24 | 0.53 | (0.30) | (0.30) |
Class C | ||||||
Six Months Ended 10/31/2020 (Unaudited) | $10.23 | 0.07 | 0.39 | 0.46 | (0.07) | (0.07) |
Year Ended 4/30/2020 | $10.46 | 0.16 | (0.23) | (0.07) | (0.16) | (0.16) |
Year Ended 4/30/2019 | $10.22 | 0.20 | 0.24 | 0.44 | (0.20) | (0.20) |
Year Ended 4/30/2018 | $10.38 | 0.19 | (0.16) | 0.03 | (0.19) | (0.19) |
Year Ended 4/30/2017 | $10.72 | 0.18 | (0.34) | (0.16) | (0.18) | (0.18) |
Year Ended 4/30/2016 | $10.49 | 0.19 | 0.23 | 0.42 | (0.19) | (0.19) |
Institutional Class | ||||||
Six Months Ended 10/31/2020 (Unaudited) | $10.21 | 0.13 | 0.39 | 0.52 | (0.13) | (0.13) |
Year Ended 4/30/2020 | $10.44 | 0.27 | (0.23) | 0.04 | (0.27) | (0.27) |
Year Ended 4/30/2019 | $10.21 | 0.30 | 0.23 | 0.53 | (0.30) | (0.30) |
Year Ended 4/30/2018 | $10.36 | 0.29 | (0.15) | 0.14 | (0.29) | (0.29) |
Year Ended 4/30/2017 | $10.70 | 0.28 | (0.33) | (0.05) | (0.29) | (0.29) |
Year Ended 4/30/2016 | $10.47 | 0.30 | 0.23 | 0.53 | (0.30) | (0.30) |
Institutional 2 Class | ||||||
Six Months Ended 10/31/2020 (Unaudited) | $10.18 | 0.13 | 0.39 | 0.52 | (0.13) | (0.13) |
Year Ended 4/30/2020 | $10.41 | 0.27 | (0.22) | 0.05 | (0.28) | (0.28) |
Year Ended 4/30/2019 | $10.18 | 0.30 | 0.23 | 0.53 | (0.30) | (0.30) |
Year Ended 4/30/2018 | $10.33 | 0.30 | (0.15) | 0.15 | (0.30) | (0.30) |
Year Ended 4/30/2017 | $10.67 | 0.29 | (0.34) | (0.05) | (0.29) | (0.29) |
Year Ended 4/30/2016 | $10.44 | 0.31 | 0.23 | 0.54 | (0.31) | (0.31) |
22 | Columbia California Intermediate Municipal Bond Fund | Semiannual Report 2020 |
Net asset value, end of period | Total return | Total gross expense ratio to average net assets(a) | Total net expense ratio to average net assets(a),(b) | Net investment income ratio to average net assets | Portfolio turnover | Net assets, end of period (000’s) | |
Class A | |||||||
Six Months Ended 10/31/2020 (Unaudited) | $10.62 | 4.83% | 0.86%(c) | 0.75%(c),(d) | 2.13%(c) | 1% | $32,249 |
Year Ended 4/30/2020 | $10.24 | 0.17% | 0.86% | 0.75%(d) | 2.30% | 6% | $31,402 |
Year Ended 4/30/2019 | $10.46 | 5.00% | 0.87% | 0.74%(d) | 2.67% | 17% | $31,998 |
Year Ended 4/30/2018 | $10.23 | 1.10% | 0.88% | 0.74%(d) | 2.56% | 5% | $27,341 |
Year Ended 4/30/2017 | $10.38 | (0.75%) | 0.92% | 0.74%(d) | 2.45% | 17% | $31,273 |
Year Ended 4/30/2016 | $10.72 | 4.76% | 0.94% | 0.74%(d) | 2.58% | 8% | $51,869 |
Advisor Class | |||||||
Six Months Ended 10/31/2020 (Unaudited) | $10.59 | 4.97% | 0.61%(c) | 0.50%(c),(d) | 2.38%(c) | 1% | $2,838 |
Year Ended 4/30/2020 | $10.21 | 0.41% | 0.61% | 0.50%(d) | 2.54% | 6% | $2,354 |
Year Ended 4/30/2019 | $10.43 | 5.28% | 0.62% | 0.49%(d) | 2.92% | 17% | $2,254 |
Year Ended 4/30/2018 | $10.20 | 1.25% | 0.63% | 0.49%(d) | 2.83% | 5% | $1,931 |
Year Ended 4/30/2017 | $10.36 | (0.42%) | 0.67% | 0.49%(d) | 2.71% | 17% | $903 |
Year Ended 4/30/2016 | $10.69 | 5.13% | 0.69% | 0.49%(d) | 2.81% | 8% | $1,457 |
Class C | |||||||
Six Months Ended 10/31/2020 (Unaudited) | $10.62 | 4.54% | 1.61%(c) | 1.49%(c),(d) | 1.38%(c) | 1% | $8,415 |
Year Ended 4/30/2020 | $10.23 | (0.68%) | 1.61% | 1.50%(d) | 1.54% | 6% | $10,387 |
Year Ended 4/30/2019 | $10.46 | 4.32% | 1.62% | 1.49%(d) | 1.92% | 17% | $11,161 |
Year Ended 4/30/2018 | $10.22 | 0.25% | 1.63% | 1.49%(d) | 1.81% | 5% | $13,508 |
Year Ended 4/30/2017 | $10.38 | (1.49%) | 1.67% | 1.49%(d) | 1.71% | 17% | $15,503 |
Year Ended 4/30/2016 | $10.72 | 4.08% | 1.69% | 1.49%(d) | 1.83% | 8% | $14,549 |
Institutional Class | |||||||
Six Months Ended 10/31/2020 (Unaudited) | $10.60 | 5.07% | 0.61%(c) | 0.50%(c),(d) | 2.38%(c) | 1% | $398,462 |
Year Ended 4/30/2020 | $10.21 | 0.31% | 0.61% | 0.50%(d) | 2.54% | 6% | $382,665 |
Year Ended 4/30/2019 | $10.44 | 5.27% | 0.62% | 0.49%(d) | 2.92% | 17% | $343,276 |
Year Ended 4/30/2018 | $10.21 | 1.35% | 0.63% | 0.49%(d) | 2.82% | 5% | $365,455 |
Year Ended 4/30/2017 | $10.36 | (0.51%) | 0.67% | 0.49%(d) | 2.71% | 17% | $371,130 |
Year Ended 4/30/2016 | $10.70 | 5.12% | 0.69% | 0.49%(d) | 2.83% | 8% | $378,630 |
Institutional 2 Class | |||||||
Six Months Ended 10/31/2020 (Unaudited) | $10.57 | 5.11% | 0.56%(c) | 0.44%(c) | 2.44%(c) | 1% | $12,137 |
Year Ended 4/30/2020 | $10.18 | 0.37% | 0.55% | 0.44% | 2.60% | 6% | $10,846 |
Year Ended 4/30/2019 | $10.41 | 5.34% | 0.56% | 0.43% | 2.98% | 17% | $10,662 |
Year Ended 4/30/2018 | $10.18 | 1.42% | 0.56% | 0.42% | 2.89% | 5% | $7,363 |
Year Ended 4/30/2017 | $10.33 | (0.42%) | 0.55% | 0.41% | 2.80% | 17% | $4,867 |
Year Ended 4/30/2016 | $10.67 | 5.23% | 0.55% | 0.39% | 2.93% | 8% | $2,829 |
Columbia California Intermediate Municipal Bond Fund | Semiannual Report 2020 | 23 |
Net asset value, beginning of period | Net investment income | Net realized and unrealized gain (loss) | Total from investment operations | Distributions from net investment income | Total distributions to shareholders | |
Institutional 3 Class | ||||||
Six Months Ended 10/31/2020 (Unaudited) | $10.21 | 0.13 | 0.38 | 0.51 | (0.13) | (0.13) |
Year Ended 4/30/2020 | $10.43 | 0.28 | (0.22) | 0.06 | (0.28) | (0.28) |
Year Ended 4/30/2019 | $10.20 | 0.31 | 0.23 | 0.54 | (0.31) | (0.31) |
Year Ended 4/30/2018 | $10.35 | 0.30 | (0.15) | 0.15 | (0.30) | (0.30) |
Year Ended 4/30/2017(e) | $10.27 | 0.05 | 0.08 | 0.13 | (0.05) | (0.05) |
Notes to Financial Highlights | |
(a) | In addition to the fees and expenses that the Fund bears directly, the Fund indirectly bears a pro rata share of the fees and expenses of any other funds in which it invests. Such indirect expenses are not included in the Fund’s reported expense ratios. |
(b) | Total net expenses include the impact of certain fee waivers/expense reimbursements made by the Investment Manager and certain of its affiliates, if applicable. |
(c) | Annualized. |
(d) | The benefits derived from expense reductions had an impact of less than 0.01%. |
(e) | Institutional 3 Class shares commenced operations on March 1, 2017. Per share data and total return reflect activity from that date. |
24 | Columbia California Intermediate Municipal Bond Fund | Semiannual Report 2020 |
Net asset value, end of period | Total return | Total gross expense ratio to average net assets(a) | Total net expense ratio to average net assets(a),(b) | Net investment income ratio to average net assets | Portfolio turnover | Net assets, end of period (000’s) | |
Institutional 3 Class | |||||||
Six Months Ended 10/31/2020 (Unaudited) | $10.59 | 5.03% | 0.51%(c) | 0.39%(c) | 2.49%(c) | 1% | $4,890 |
Year Ended 4/30/2020 | $10.21 | 0.52% | 0.50% | 0.39% | 2.64% | 6% | $5,307 |
Year Ended 4/30/2019 | $10.43 | 5.39% | 0.51% | 0.38% | 3.02% | 17% | $3,231 |
Year Ended 4/30/2018 | $10.20 | 1.46% | 0.52% | 0.38% | 2.95% | 5% | $866 |
Year Ended 4/30/2017(e) | $10.35 | 1.27% | 0.52%(c) | 0.36%(c) | 2.98%(c) | 17% | $10 |
Columbia California Intermediate Municipal Bond Fund | Semiannual Report 2020 | 25 |
October 31, 2020 (Unaudited)
26 | Columbia California Intermediate Municipal Bond Fund | Semiannual Report 2020 |
October 31, 2020 (Unaudited)
Columbia California Intermediate Municipal Bond Fund | Semiannual Report 2020 | 27 |
October 31, 2020 (Unaudited)
28 | Columbia California Intermediate Municipal Bond Fund | Semiannual Report 2020 |
October 31, 2020 (Unaudited)
Effective rate (%) | |
Class A | 0.12 |
Advisor Class | 0.12 |
Class C | 0.12 |
Institutional Class | 0.12 |
Institutional 2 Class | 0.06 |
Institutional 3 Class | 0.01 |
Front End (%) | CDSC (%) | Amount ($) | |
Class A | 3.00 | 0.75(a) | 9,082 |
Class C | — | 1.00(b) | — |
(a) | This charge is imposed on certain investments of $500,000 or more if redeemed within 12 months after purchase. |
(b) | This charge applies to redemptions within 12 months after purchase, with certain limited exceptions. |
Columbia California Intermediate Municipal Bond Fund | Semiannual Report 2020 | 29 |
October 31, 2020 (Unaudited)
Fee rate(s) contractual through August 31, 2021 | |
Class A | 0.75% |
Advisor Class | 0.50 |
Class C | 1.50 |
Institutional Class | 0.50 |
Institutional 2 Class | 0.44 |
Institutional 3 Class | 0.39 |
Federal tax cost ($) | Gross unrealized appreciation ($) | Gross unrealized (depreciation) ($) | Net unrealized appreciation ($) |
433,537,000 | 26,510,000 | (644,000) | 25,866,000 |
No expiration short-term ($) | No expiration long-term ($) | Total ($) |
(4,407,034) | (402,210) | (4,809,244) |
30 | Columbia California Intermediate Municipal Bond Fund | Semiannual Report 2020 |
October 31, 2020 (Unaudited)
Columbia California Intermediate Municipal Bond Fund | Semiannual Report 2020 | 31 |
October 31, 2020 (Unaudited)
32 | Columbia California Intermediate Municipal Bond Fund | Semiannual Report 2020 |
October 31, 2020 (Unaudited)
Columbia California Intermediate Municipal Bond Fund | Semiannual Report 2020 | 33 |
October 31, 2020 (Unaudited)
34 | Columbia California Intermediate Municipal Bond Fund | Semiannual Report 2020 |
Columbia California Intermediate Municipal Bond Fund | Semiannual Report 2020 | 35 |
The Board also discussed the acceptability of the terms of the Management Agreement (including the relatively broad scope of services required to be performed by Columbia Threadneedle), noting that no material changes are proposed from the form of agreement previously approved. They also noted the wide array of legal and compliance services provided to the Funds under the Management Agreement. It was observed that the services being performed under the Management Agreement were of a reasonable quality.
36 | Columbia California Intermediate Municipal Bond Fund | Semiannual Report 2020 |
Economies of scale to be realized
Columbia California Intermediate Municipal Bond Fund | Semiannual Report 2020 | 37 |
columbiathreadneedleus.com/investor/. The Fund is distributed by Columbia Management Investment Distributors, Inc., member FINRA, and managed by Columbia Management Investment Advisers, LLC.
October 31, 2020
(Unaudited)
Average annual total returns (%) (for the period ended October 31, 2020) | ||||||
Inception | 6 Months cumulative | 1 Year | 5 Years | 10 Years | ||
Class A | Excluding sales charges | 05/05/92 | 3.86 | 2.41 | 2.52 | 2.83 |
Including sales charges | 0.76 | -0.66 | 1.90 | 2.52 | ||
Advisor Class* | 03/19/13 | 3.99 | 2.67 | 2.80 | 3.08 | |
Class C | Excluding sales charges | 06/17/92 | 3.46 | 1.65 | 1.78 | 2.06 |
Including sales charges | 2.46 | 0.65 | 1.78 | 2.06 | ||
Institutional Class | 01/06/92 | 4.09 | 2.67 | 2.80 | 3.08 | |
Institutional 3 Class* | 03/01/17 | 4.03 | 2.78 | 2.88 | 3.12 | |
Bloomberg Barclays 3-15 Year Blend Municipal Bond Index | 4.67 | 3.84 | 3.41 | 3.66 |
* | The returns shown for periods prior to the share class inception date (including returns for the Life of the Fund, if shown, which are since Fund inception) include the returns of the Fund’s oldest share class. These returns are adjusted to reflect any higher class-related operating expenses of the newer share classes, as applicable. Please visit columbiathreadneedleus.com/investor/investment-products/mutual-funds/appended-performance for more information. |
Columbia South Carolina Intermediate Municipal Bond Fund | Semiannual Report 2020 | 3 |
(Unaudited)
Quality breakdown (%) (at October 31, 2020) | |
AAA rating | 5.3 |
AA rating | 43.4 |
A rating | 47.3 |
BBB rating | 2.1 |
BB rating | 0.9 |
Not rated | 1.0 |
Total | 100.0 |
4 | Columbia South Carolina Intermediate Municipal Bond Fund | Semiannual Report 2020 |
(Unaudited)
May 1, 2020 — October 31, 2020 | |||||||
Account value at the beginning of the period ($) | Account value at the end of the period ($) | Expenses paid during the period ($) | Fund’s annualized expense ratio (%) | ||||
Actual | Hypothetical | Actual | Hypothetical | Actual | Hypothetical | Actual | |
Class A | 1,000.00 | 1,000.00 | 1,038.60 | 1,021.01 | 4.14 | 4.10 | 0.81 |
Advisor Class | 1,000.00 | 1,000.00 | 1,039.90 | 1,022.26 | 2.86 | 2.84 | 0.56 |
Class C | 1,000.00 | 1,000.00 | 1,034.60 | 1,017.25 | 7.96 | 7.89 | 1.56 |
Institutional Class | 1,000.00 | 1,000.00 | 1,040.90 | 1,022.26 | 2.87 | 2.84 | 0.56 |
Institutional 3 Class | 1,000.00 | 1,000.00 | 1,040.30 | 1,022.81 | 2.30 | 2.28 | 0.45 |
Columbia South Carolina Intermediate Municipal Bond Fund | Semiannual Report 2020 | 5 |
October 31, 2020 (Unaudited)
Floating Rate Notes 4.0% | ||||
Issue Description | Effective Yield | Principal Amount ($) | Value ($) | |
Variable Rate Demand Notes 4.0% | ||||
City of Murray(a),(b) | ||||
Revenue Bonds | ||||
IHC Health Services, Inc. | ||||
Series 2005A (JPMorgan Chase Bank) | ||||
05/15/2037 | 0.110% | 865,000 | 865,000 | |
New York City Transitional Finance Authority(a),(b) | ||||
Revenue Bonds | ||||
Future Tax Secured | ||||
Subordinated Series 2012C (JPMorgan Chase Bank) | ||||
11/01/2036 | 0.110% | 2,000,000 | 2,000,000 | |
New York City Water & Sewer System(a),(b) | ||||
Revenue Bonds | ||||
2nd General Resolution | ||||
Series 2013 (JPMorgan Chase Bank) | ||||
06/15/2050 | 0.110% | 2,000,000 | 2,000,000 | |
Total | 4,865,000 | |||
Total Floating Rate Notes (Cost $4,865,000) | 4,865,000 | |||
Municipal Bonds 91.2% | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Airport 0.5% | ||||
Charleston County Airport District | ||||
Revenue Bonds | ||||
Series 2019 | ||||
07/01/2035 | 5.000% | 500,000 | 614,355 | |
Charter Schools 1.3% | ||||
South Carolina Jobs-Economic Development Authority(c) | ||||
Revenue Bonds | ||||
Series 2015A | ||||
08/15/2035 | 5.125% | 1,000,000 | 1,047,430 | |
South Carolina Jobs-Economic Development Authority | ||||
Revenue Bonds | ||||
York Preparatory Academy Project | ||||
Series 2014A | ||||
11/01/2033 | 7.000% | 500,000 | 549,065 | |
Total | 1,596,495 | |||
Higher Education 8.0% | ||||
Clemson University | ||||
Revenue Bonds | ||||
Athletic Facility | ||||
Series 2014A | ||||
05/01/2028 | 5.000% | 1,170,000 | 1,368,970 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Coastal Carolina University | ||||
Revenue Bonds | ||||
Series 2015 | ||||
06/01/2024 | 5.000% | 1,500,000 | 1,697,985 | |
South Carolina Jobs-Economic Development Authority | ||||
Refunding Revenue Bonds | ||||
Furman University | ||||
Series 2015 | ||||
10/01/2032 | 5.000% | 1,895,000 | 2,152,455 | |
Revenue Bonds | ||||
Wofford College Project | ||||
Series 2019 | ||||
04/01/2037 | 5.000% | 885,000 | 1,045,937 | |
University of South Carolina | ||||
Refunding Revenue Bonds | ||||
Series 2017B | ||||
05/01/2034 | 5.000% | 1,500,000 | 1,781,370 | |
Revenue Bonds | ||||
Moore School of Business Project | ||||
Series 2012 | ||||
05/01/2026 | 5.000% | 1,500,000 | 1,594,770 | |
Total | 9,641,487 | |||
Hospital 11.1% | ||||
County of Florence | ||||
Refunding Revenue Bonds | ||||
McLeod Regional Medical Center Project | ||||
Series 2014 | ||||
11/01/2031 | 5.000% | 1,500,000 | 1,701,990 | |
County of Greenwood | ||||
Refunding Revenue Bonds | ||||
Self Regional Healthcare | ||||
Series 2012B | ||||
10/01/2027 | 5.000% | 1,750,000 | 1,847,825 | |
10/01/2031 | 5.000% | 2,000,000 | 2,099,180 | |
Lexington County Health Services District, Inc. | ||||
Refunding Revenue Bonds | ||||
Lexington Medical Center Obligated Group | ||||
Series 2017 | ||||
11/01/2032 | 4.000% | 1,050,000 | 1,197,987 | |
Revenue Bonds | ||||
Lexington Medical Center | ||||
Series 2016 | ||||
11/01/2034 | 5.000% | 1,500,000 | 1,749,975 | |
South Carolina Jobs-Economic Development Authority | ||||
Refunding Revenue Bonds | ||||
Prisma Health Obligated Group | ||||
Series 2018 | ||||
05/01/2036 | 5.000% | 2,000,000 | 2,378,200 |
6 | Columbia South Carolina Intermediate Municipal Bond Fund | Semiannual Report 2020 |
October 31, 2020 (Unaudited)
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Revenue Bonds | ||||
McLeod Health Obligation Group | ||||
Series 2018 | ||||
11/01/2033 | 5.000% | 1,000,000 | 1,225,890 | |
St. Joseph’s Candler Health System, Inc. | ||||
Series 2019 | ||||
07/01/2032 | 5.000% | 1,000,000 | 1,229,150 | |
Total | 13,430,197 | |||
Joint Power Authority 3.2% | ||||
South Carolina Public Service Authority | ||||
Refunding Revenue Bonds | ||||
Series 2014B | ||||
12/01/2032 | 5.000% | 1,250,000 | 1,410,762 | |
Series 2016A | ||||
12/01/2028 | 5.000% | 2,000,000 | 2,415,840 | |
Total | 3,826,602 | |||
Local Appropriation 23.8% | ||||
Aiken County Consolidated School District | ||||
Special Obligation Revenue Bonds | ||||
Series 2019 | ||||
06/01/2033 | 4.000% | 325,000 | 388,973 | |
Berkeley County School District | ||||
Refunding Revenue Bonds | ||||
Securing Assets for Education | ||||
Series 2015A | ||||
12/01/2027 | 5.000% | 1,500,000 | 1,708,515 | |
Charleston Educational Excellence Finance Corp. | ||||
Refunding Revenue Bonds | ||||
Charleston County School | ||||
Series 2013 | ||||
12/01/2025 | 5.000% | 2,000,000 | 2,271,900 | |
Charleston Public Facilities Corp. | ||||
Revenue Bonds | ||||
Series 2015A | ||||
09/01/2029 | 5.000% | 1,000,000 | 1,188,950 | |
City of North Charleston | ||||
Tax Allocation Bonds | ||||
Series 2019B | ||||
10/01/2027 | 5.000% | 1,000,000 | 1,249,770 | |
Tax Increment Pledge | ||||
Series 2020 | ||||
10/01/2031 | 5.000% | 300,000 | 389,424 | |
County of Dorchester | ||||
Tax Allocation Bonds | ||||
Series 2020 | ||||
10/01/2036 | 5.000% | 385,000 | 476,795 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
County of Florence | ||||
Revenue Bonds | ||||
Series 2015 | ||||
10/01/2028 | 5.000% | 1,000,000 | 1,130,060 | |
Dorchester County School District No. 2 | ||||
Refunding Revenue Bonds | ||||
Growth Installment Purchase | ||||
Series 2013 | ||||
12/01/2027 | 5.000% | 1,000,000 | 1,138,680 | |
Fort Mill School Facilities Corp. | ||||
Refunding Revenue Bonds | ||||
Fort Mills School District #4 | ||||
Series 2015 | ||||
12/01/2028 | 5.000% | 1,000,000 | 1,183,880 | |
Kershaw County School District | ||||
Refunding Revenue Bonds | ||||
Series 2015 | ||||
12/01/2025 | 5.000% | 1,000,000 | 1,206,370 | |
Lexington One School Facilities Corp. | ||||
Refunding Revenue Bonds | ||||
Lexington County School District | ||||
Series 2015 | ||||
12/01/2026 | 5.000% | 835,000 | 952,184 | |
Lexington School District No. 2 Educational Facilities Corp. | ||||
Refunding Revenue Bonds | ||||
Series 2015B | ||||
12/01/2026 | 5.000% | 1,815,000 | 2,151,937 | |
Newberry Investing in Children’s Education | ||||
Refunding Revenue Bonds | ||||
Newberry County School District | ||||
Series 2014 | ||||
12/01/2029 | 5.000% | 1,500,000 | 1,732,020 | |
North Charleston Public Facilities Corp. | ||||
Revenue Bonds | ||||
Series 2012 | ||||
06/01/2029 | 5.000% | 2,280,000 | 2,438,392 | |
SCAGO Educational Facilities Corp. for Calhoun School District | ||||
Refunding Revenue Bonds | ||||
Series 2015 (BAM) | ||||
12/01/2026 | 5.000% | 520,000 | 628,004 | |
SCAGO Educational Facilities Corp. for Cherokee School District No. 1 | ||||
Refunding Revenue Bonds | ||||
Series 2015 | ||||
12/01/2028 | 5.000% | 1,830,000 | 2,126,277 | |
SCAGO Educational Facilities Corp. for Colleton School District | ||||
Refunding Revenue Bonds | ||||
Series 2015 | ||||
12/01/2027 | 5.000% | 1,295,000 | 1,486,751 |
Columbia South Carolina Intermediate Municipal Bond Fund | Semiannual Report 2020 | 7 |
October 31, 2020 (Unaudited)
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
SCAGO Educational Facilities Corp. for Pickens School District | ||||
Refunding Revenue Bonds | ||||
Series 2015 | ||||
12/01/2029 | 5.000% | 1,500,000 | 1,737,930 | |
12/01/2030 | 5.000% | 1,275,000 | 1,472,395 | |
Sumter Two School Facilities, Inc. | ||||
Refunding Revenue Bonds | ||||
Sumter County School District No. 2 | ||||
Series 2016 (BAM) | ||||
12/01/2027 | 5.000% | 1,500,000 | 1,772,670 | |
Total | 28,831,877 | |||
Local General Obligation 8.2% | ||||
Anderson County School District No. 5 | ||||
Unlimited General Obligation Bonds | ||||
South Carolina School District Credit Enhancement Program | ||||
Series 2017 | ||||
03/01/2030 | 4.000% | 1,000,000 | 1,178,180 | |
Beaufort County School District | ||||
Unlimited General Obligation Bonds | ||||
Series 2014B | ||||
03/01/2023 | 5.000% | 1,190,000 | 1,320,519 | |
Lexington County School District No. 1 | ||||
Unlimited General Obligation Bonds | ||||
Series 2020C | ||||
02/01/2031 | 4.000% | 1,000,000 | 1,226,000 | |
Unlimited General Obligation Refunding Bonds | ||||
Series 2019A (School District Credit Enhancement Program) | ||||
02/01/2031 | 5.000% | 1,000,000 | 1,288,570 | |
Richland County School District No. 2 | ||||
Unlimited General Obligation Bonds | ||||
School District Credit Enhancement Program | ||||
Series 2020A | ||||
03/01/2029 | 5.000% | 1,000,000 | 1,328,050 | |
South Carolina Jobs-Economic Development Authority | ||||
Refunding Revenue Bonds | ||||
Series 2015 | ||||
04/01/2034 | 5.000% | 940,000 | 969,883 | |
Spartanburg County School District No. 7 | ||||
Unlimited General Obligation Bonds | ||||
Series 2018-B | ||||
03/01/2036 | 5.000% | 1,000,000 | 1,278,850 | |
Series 2019D | ||||
03/01/2037 | 5.000% | 1,000,000 | 1,274,190 | |
Total | 9,864,242 | |||
Municipal Power 4.0% | ||||
City of Camden Combined Public Utility System | ||||
Refunding Revenue Bonds | ||||
Series 2020 (AGM) | ||||
ASSURED GUARANTY MUNICIPAL CORP | ||||
03/01/2031 | 4.000% | 1,125,000 | 1,410,390 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
City of Rock Hill Combined Utility System | ||||
Refunding Revenue Bonds | ||||
Series 2012A (AGM) | ||||
01/01/2023 | 5.000% | 1,560,000 | 1,644,490 | |
Series 2019A | ||||
01/01/2032 | 5.000% | 1,000,000 | 1,256,680 | |
Easley Combined Utility System | ||||
Refunding Revenue Bonds | ||||
Easley Combined Utility System | ||||
Series 2019 (AGM) | ||||
12/01/2033 | 4.000% | 500,000 | 593,065 | |
Total | 4,904,625 | |||
Other Utility 1.0% | ||||
Patriots Energy Group | ||||
Improvement Refunding Revenue Bonds | ||||
Gas Systems | ||||
Series 2019 | ||||
06/01/2038 | 5.000% | 1,000,000 | 1,208,970 | |
Ports 2.1% | ||||
South Carolina Ports Authority(d) | ||||
Revenue Bonds | ||||
Series 2019B | ||||
07/01/2033 | 5.000% | 2,000,000 | 2,491,720 | |
Refunded / Escrowed 4.9% | ||||
Anderson Regional Joint Water System | ||||
Prerefunded 07/15/22 Revenue Bonds | ||||
Series 2012 | ||||
07/15/2028 | 5.000% | 2,000,000 | 2,161,040 | |
City of Columbia Waterworks & Sewer System | ||||
Prerefunded 02/01/21 Revenue Bonds | ||||
Series 2011A | ||||
02/01/2027 | 5.000% | 1,000,000 | 1,011,800 | |
Renewable Water Resources | ||||
Prerefunded 01/01/22 Refunding Revenue Bonds | ||||
Series 2012 | ||||
01/01/2024 | 5.000% | 555,000 | 585,614 | |
Prerefunded 01/01/22 Revenue Bonds | ||||
Series 2012 | ||||
01/01/2024 | 5.000% | 445,000 | 469,546 | |
South Carolina Jobs-Economic Development Authority | ||||
Prerefunded 11/01/22 Revenue Bonds | ||||
Bon Secours Health System, Inc. | ||||
Series 2013 | ||||
11/01/2024 | 5.000% | 450,000 | 491,931 |
8 | Columbia South Carolina Intermediate Municipal Bond Fund | Semiannual Report 2020 |
October 31, 2020 (Unaudited)
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Town of Hilton Head Island | ||||
Prerefunded 06/01/21 Revenue Bonds | ||||
Series 2011A | ||||
06/01/2023 | 5.000% | 555,000 | 570,473 | |
06/01/2024 | 5.000% | 580,000 | 596,171 | |
Total | 5,886,575 | |||
Resource Recovery 2.9% | ||||
Three Rivers Solid Waste Authority(e) | ||||
Revenue Bonds | ||||
Capital Appreciation-Landfill Gas Project | ||||
Series 2007 | ||||
10/01/2024 | 0.000% | 1,835,000 | 1,767,821 | |
10/01/2025 | 0.000% | 1,835,000 | 1,742,112 | |
Total | 3,509,933 | |||
Retirement Communities 1.1% | ||||
South Carolina Jobs-Economic Development Authority(c) | ||||
Refunding Revenue Bonds | ||||
Wesley Commons | ||||
Series 2016 | ||||
10/01/2026 | 5.000% | 655,000 | 682,005 | |
South Carolina Jobs-Economic Development Authority | ||||
Revenue Bonds | ||||
Bishop Gadsden Episcopal Retirement Community | ||||
Series 2019 | ||||
04/01/2034 | 4.000% | 605,000 | 632,697 | |
Total | 1,314,702 | |||
Special Non Property Tax 6.4% | ||||
City of Columbia | ||||
Revenue Bonds | ||||
Series 2014 | ||||
02/01/2033 | 5.000% | 1,195,000 | 1,355,787 | |
City of Florence Accommodations Fee | ||||
Revenue Bonds | ||||
Series 2015 | ||||
05/01/2030 | 4.000% | 1,000,000 | 1,082,320 | |
05/01/2035 | 5.000% | 1,000,000 | 1,112,010 | |
City of Greenville Hospitality Tax | ||||
Improvement Refunding Revenue Bonds | ||||
Series 2011 (AGM) | ||||
04/01/2021 | 5.000% | 1,290,000 | 1,314,781 | |
City of Myrtle Beach | ||||
Revenue Bonds | ||||
Hospitality Fee | ||||
Series 2014B | ||||
06/01/2030 | 5.000% | 560,000 | 621,841 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
City of Rock Hill | ||||
Revenue Bonds | ||||
Hospitality Fee Pledge | ||||
Series 2013 | ||||
04/01/2023 | 5.000% | 695,000 | 759,301 | |
Greenville County Public Facilities Corp. | ||||
Refunding Certificate of Participation | ||||
Series 2014 | ||||
04/01/2026 | 5.000% | 890,000 | 1,029,401 | |
Town of Hilton Head Island | ||||
Revenue Bonds | ||||
Beach Preservation Fee Pledge | ||||
Series 2017 | ||||
08/01/2025 | 5.000% | 400,000 | 484,060 | |
Total | 7,759,501 | |||
Special Property Tax 1.0% | ||||
City of Myrtle Beach | ||||
Refunding Tax Allocation Bonds | ||||
Myrtle Beach Air Force Base | ||||
Series 2016 | ||||
10/01/2030 | 5.000% | 1,000,000 | 1,197,560 | |
State General Obligation 1.0% | ||||
State of South Carolina | ||||
Unlimited General Obligation Bonds | ||||
Series 2014B | ||||
04/01/2025 | 5.000% | 1,000,000 | 1,159,220 | |
Student Loan 0.5% | ||||
South Carolina State Education Assistance Authority | ||||
Revenue Bonds | ||||
Student Loan | ||||
Series 2009I | ||||
10/01/2024 | 5.000% | 565,000 | 565,232 | |
Transportation 1.9% | ||||
South Carolina Transportation Infrastructure Bank | ||||
Refunding Revenue Bonds | ||||
Infrastructure Bank | ||||
Series 2015A | ||||
10/01/2024 | 5.000% | 2,000,000 | 2,334,080 | |
Water & Sewer 8.3% | ||||
Beaufort-Jasper Water & Sewer Authority | ||||
Refunding Revenue Bonds | ||||
Series 2016B | ||||
03/01/2024 | 5.000% | 1,000,000 | 1,155,410 | |
Revenue Bonds | ||||
Series 2019A | ||||
03/01/2035 | 5.000% | 750,000 | 963,600 |
Columbia South Carolina Intermediate Municipal Bond Fund | Semiannual Report 2020 | 9 |
October 31, 2020 (Unaudited)
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
City of Charleston Waterworks & Sewer System | ||||
Revenue Bonds | ||||
Series 2019 | ||||
01/01/2038 | 5.000% | 1,000,000 | 1,312,160 | |
City of Columbia Stormwater System | ||||
Revenue Bonds | ||||
Green Bonds | ||||
Series 2018 | ||||
02/01/2038 | 5.000% | 350,000 | 434,952 | |
City of Columbia Waterworks & Sewer System | ||||
Revenue Bonds | ||||
Series 2018 | ||||
02/01/2035 | 4.000% | 560,000 | 653,044 | |
City of Spartanburg Water System | ||||
Refunding Revenue Bonds | ||||
Series 2017B | ||||
06/01/2035 | 4.000% | 1,375,000 | 1,586,434 | |
City of Sumter Waterworks & Sewer System | ||||
Refunding Revenue Bonds | ||||
Series 2015 | ||||
12/01/2027 | 4.000% | 400,000 | 464,220 | |
County of Richland Utility System | ||||
Refunding Revenue Bonds | ||||
Series 2020 | ||||
03/01/2031 | 5.000% | 240,000 | 319,529 | |
03/01/2032 | 5.000% | 215,000 | 284,150 | |
03/01/2033 | 5.000% | 280,000 | 367,142 | |
Georgetown County Water & Sewer District | ||||
Refunding Revenue Bonds | ||||
Series 2015 | ||||
06/01/2027 | 4.000% | 450,000 | 512,149 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Spartanburg Sanitation Sewer District | ||||
Refunding Revenue Bonds | ||||
Series 2014B | ||||
03/01/2034 | 5.000% | 1,000,000 | 1,163,950 | |
Town of Lexington Waterworks & Sewer System | ||||
Refunding Revenue Bonds | ||||
Series 2017 | ||||
06/01/2034 | 4.000% | 750,000 | 878,707 | |
Total | 10,095,447 | |||
Total Municipal Bonds (Cost $104,058,971) | 110,232,820 |
Money Market Funds 3.9% | ||
Shares | Value ($) | |
Dreyfus AMT-Free Tax Exempt Cash Management Fund, Institutional Shares, 0.010%(f) | 113,752 | 113,741 |
JPMorgan Institutional Tax Free Money Market Fund, Institutional Shares, 0.012%(f) | 4,573,903 | 4,573,903 |
Total Money Market Funds (Cost $4,687,655) | 4,687,644 | |
Total Investments in Securities (Cost: $113,611,626) | 119,785,464 | |
Other Assets & Liabilities, Net | 1,100,455 | |
Net Assets | 120,885,919 |
(a) | The Fund is entitled to receive principal and interest from the guarantor after a day or a week’s notice or upon maturity. The maturity date disclosed represents the final maturity. |
(b) | Represents a variable rate security where the coupon rate adjusts on specified dates (generally daily or weekly) using the prevailing money market rate. The interest rate shown was the current rate as of October 31, 2020. |
(c) | Represents privately placed and other securities and instruments exempt from Securities and Exchange Commission registration (collectively, private placements), such as Section 4(a)(2) and Rule 144A eligible securities, which are often sold only to qualified institutional buyers. At October 31, 2020, the total value of these securities amounted to $1,729,435, which represents 1.43% of total net assets. |
(d) | Income from this security may be subject to alternative minimum tax. |
(e) | Zero coupon bond. |
(f) | The rate shown is the seven-day current annualized yield at October 31, 2020. |
AGM | Assured Guaranty Municipal Corporation |
BAM | Build America Mutual Assurance Co. |
10 | Columbia South Carolina Intermediate Municipal Bond Fund | Semiannual Report 2020 |
October 31, 2020 (Unaudited)
■ | Level 1 — Valuations based on quoted prices for investments in active markets that the Fund has the ability to access at the measurement date. Valuation adjustments are not applied to Level 1 investments. |
■ | Level 2 — Valuations based on other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risks, etc.). |
■ | Level 3 — Valuations based on significant unobservable inputs (including the Fund’s own assumptions and judgment in determining the fair value of investments). |
Level 1 ($) | Level 2 ($) | Level 3 ($) | Total ($) | |
Investments in Securities | ||||
Floating Rate Notes | — | 4,865,000 | — | 4,865,000 |
Municipal Bonds | — | 110,232,820 | — | 110,232,820 |
Money Market Funds | 4,687,644 | — | — | 4,687,644 |
Total Investments in Securities | 4,687,644 | 115,097,820 | — | 119,785,464 |
Columbia South Carolina Intermediate Municipal Bond Fund | Semiannual Report 2020 | 11 |
October 31, 2020 (Unaudited)
Assets | |
Investments in securities, at value | |
Unaffiliated issuers (cost $113,611,626) | $119,785,464 |
Cash | 55 |
Receivable for: | |
Capital shares sold | 91,736 |
Interest | 1,386,510 |
Expense reimbursement due from Investment Manager | 301 |
Prepaid expenses | 2,277 |
Total assets | 121,266,343 |
Liabilities | |
Payable for: | |
Capital shares purchased | 32,556 |
Distributions to shareholders | 202,671 |
Management services fees | 1,553 |
Distribution and/or service fees | 300 |
Transfer agent fees | 12,773 |
Compensation of board members | 108,042 |
Compensation of chief compliance officer | 12 |
Other expenses | 22,517 |
Total liabilities | 380,424 |
Net assets applicable to outstanding capital stock | $120,885,919 |
Represented by | |
Paid in capital | 115,260,730 |
Total distributable earnings (loss) | 5,625,189 |
Total - representing net assets applicable to outstanding capital stock | $120,885,919 |
Class A | |
Net assets | $27,743,079 |
Shares outstanding | 2,672,406 |
Net asset value per share | $10.38 |
Maximum sales charge | 3.00% |
Maximum offering price per share (calculated by dividing the net asset value per share by 1.0 minus the maximum sales charge for Class A shares) | $10.70 |
Advisor Class | |
Net assets | $2,910,555 |
Shares outstanding | 280,428 |
Net asset value per share | $10.38 |
Class C | |
Net assets | $4,055,785 |
Shares outstanding | 390,332 |
Net asset value per share | $10.39 |
Institutional Class | |
Net assets | $78,678,777 |
Shares outstanding | 7,575,219 |
Net asset value per share | $10.39 |
Institutional 3 Class | |
Net assets | $7,497,723 |
Shares outstanding | 719,433 |
Net asset value per share | $10.42 |
12 | Columbia South Carolina Intermediate Municipal Bond Fund | Semiannual Report 2020 |
Six Months Ended October 31, 2020 (Unaudited)
Net investment income | |
Income: | |
Dividends — unaffiliated issuers | $2,297 |
Interest | 1,563,279 |
Total income | 1,565,576 |
Expenses: | |
Management services fees | 272,965 |
Distribution and/or service fees | |
Class A | 32,935 |
Class C | 22,696 |
Transfer agent fees | |
Class A | 15,647 |
Advisor Class | 1,733 |
Class C | 2,696 |
Institutional Class | 44,876 |
Institutional 3 Class | 338 |
Compensation of board members | 27,456 |
Custodian fees | 679 |
Printing and postage fees | 5,329 |
Registration fees | 2,763 |
Audit fees | 14,790 |
Legal fees | 5,109 |
Compensation of chief compliance officer | 12 |
Other | 4,615 |
Total expenses | 454,639 |
Fees waived or expenses reimbursed by Investment Manager and its affiliates | (77,476) |
Expense reduction | (20) |
Total net expenses | 377,143 |
Net investment income | 1,188,433 |
Realized and unrealized gain (loss) — net | |
Net realized gain (loss) on: | |
Investments — unaffiliated issuers | (5,943) |
Net realized loss | (5,943) |
Net change in unrealized appreciation (depreciation) on: | |
Investments — unaffiliated issuers | 3,089,535 |
Net change in unrealized appreciation (depreciation) | 3,089,535 |
Net realized and unrealized gain | 3,083,592 |
Net increase in net assets resulting from operations | $4,272,025 |
Columbia South Carolina Intermediate Municipal Bond Fund | Semiannual Report 2020 | 13 |
Six Months Ended October 31, 2020 (Unaudited) | Year Ended April 30, 2020 | |
Operations | ||
Net investment income | $1,188,433 | $2,542,642 |
Net realized loss | (5,943) | (166,150) |
Net change in unrealized appreciation (depreciation) | 3,089,535 | (760,029) |
Net increase in net assets resulting from operations | 4,272,025 | 1,616,463 |
Distributions to shareholders | ||
Net investment income and net realized gains | ||
Class A | (250,548) | (547,432) |
Advisor Class | (31,408) | (56,833) |
Class C | (26,182) | (95,183) |
Institutional Class | (813,859) | (1,836,066) |
Institutional 3 Class | (76,722) | (107,127) |
Total distributions to shareholders | (1,198,719) | (2,642,641) |
Increase in net assets from capital stock activity | 10,384,585 | 4,736,181 |
Total increase in net assets | 13,457,891 | 3,710,003 |
Net assets at beginning of period | 107,428,028 | 103,718,025 |
Net assets at end of period | $120,885,919 | $107,428,028 |
14 | Columbia South Carolina Intermediate Municipal Bond Fund | Semiannual Report 2020 |
Six Months Ended | Year Ended | |||
October 31, 2020 (Unaudited) | April 30, 2020 | |||
Shares | Dollars ($) | Shares | Dollars ($) | |
Capital stock activity | ||||
Class A | ||||
Subscriptions | 326,605 | 3,407,980 | 499,378 | 5,166,255 |
Distributions reinvested | 18,953 | 197,232 | 41,951 | 433,746 |
Redemptions | (93,488) | (972,115) | (284,998) | (2,932,367) |
Net increase | 252,070 | 2,633,097 | 256,331 | 2,667,634 |
Advisor Class | ||||
Subscriptions | 63,020 | 648,201 | 75,561 | 782,030 |
Distributions reinvested | 3,008 | 31,301 | 5,474 | 56,585 |
Redemptions | (15,817) | (164,190) | (33,204) | (340,632) |
Net increase | 50,211 | 515,312 | 47,831 | 497,983 |
Class C | ||||
Subscriptions | 30,171 | 314,183 | 61,831 | 640,505 |
Distributions reinvested | 2,132 | 22,209 | 6,986 | 72,272 |
Redemptions | (141,012) | (1,470,903) | (421,944) | (4,360,019) |
Net decrease | (108,709) | (1,134,511) | (353,127) | (3,647,242) |
Institutional Class | ||||
Subscriptions | 1,007,615 | 10,477,812 | 2,157,574 | 22,334,115 |
Distributions reinvested | 16,644 | 173,313 | 38,534 | 398,592 |
Redemptions | (356,893) | (3,706,481) | (2,204,369) | (22,741,142) |
Net increase (decrease) | 667,366 | 6,944,644 | (8,261) | (8,435) |
Institutional 3 Class | ||||
Subscriptions | 215,128 | 2,255,476 | 552,912 | 5,767,081 |
Distributions reinvested | 2,790 | 29,141 | 3,937 | 40,852 |
Redemptions | (82,144) | (858,574) | (56,695) | (581,692) |
Net increase | 135,774 | 1,426,043 | 500,154 | 5,226,241 |
Total net increase | 996,712 | 10,384,585 | 442,928 | 4,736,181 |
Columbia South Carolina Intermediate Municipal Bond Fund | Semiannual Report 2020 | 15 |
Net asset value, beginning of period | Net investment income | Net realized and unrealized gain (loss) | Total from investment operations | Distributions from net investment income | Distributions from net realized gains | Total distributions to shareholders | |
Class A | |||||||
Six Months Ended 10/31/2020 (Unaudited) | $10.09 | 0.10 | 0.29 | 0.39 | (0.10) | — | (0.10) |
Year Ended 4/30/2020 | $10.17 | 0.22 | (0.07) | 0.15 | (0.23) | — | (0.23) |
Year Ended 4/30/2019 | $9.94 | 0.24 | 0.24 | 0.48 | (0.25) | — | (0.25) |
Year Ended 4/30/2018 | $10.16 | 0.25 | (0.20) | 0.05 | (0.27) | — | (0.27) |
Year Ended 4/30/2017 | $10.55 | 0.25 | (0.35) | (0.10) | (0.28) | (0.01) | (0.29) |
Year Ended 4/30/2016 | $10.44 | 0.28 | 0.16 | 0.44 | (0.30) | (0.03) | (0.33) |
Advisor Class | |||||||
Six Months Ended 10/31/2020 (Unaudited) | $10.09 | 0.11 | 0.29 | 0.40 | (0.11) | — | (0.11) |
Year Ended 4/30/2020 | $10.16 | 0.25 | (0.06) | 0.19 | (0.26) | — | (0.26) |
Year Ended 4/30/2019 | $9.94 | 0.26 | 0.24 | 0.50 | (0.28) | — | (0.28) |
Year Ended 4/30/2018 | $10.15 | 0.27 | (0.19) | 0.08 | (0.29) | — | (0.29) |
Year Ended 4/30/2017 | $10.54 | 0.28 | (0.36) | (0.08) | (0.30) | (0.01) | (0.31) |
Year Ended 4/30/2016 | $10.43 | 0.30 | 0.17 | 0.47 | (0.33) | (0.03) | (0.36) |
Class C | |||||||
Six Months Ended 10/31/2020 (Unaudited) | $10.10 | 0.06 | 0.29 | 0.35 | (0.06) | — | (0.06) |
Year Ended 4/30/2020 | $10.17 | 0.15 | (0.07) | 0.08 | (0.15) | — | (0.15) |
Year Ended 4/30/2019 | $9.94 | 0.16 | 0.25 | 0.41 | (0.18) | — | (0.18) |
Year Ended 4/30/2018 | $10.16 | 0.17 | (0.20) | (0.03) | (0.19) | — | (0.19) |
Year Ended 4/30/2017 | $10.56 | 0.18 | (0.37) | (0.19) | (0.20) | (0.01) | (0.21) |
Year Ended 4/30/2016 | $10.44 | 0.20 | 0.18 | 0.38 | (0.23) | (0.03) | (0.26) |
Institutional Class | |||||||
Six Months Ended 10/31/2020 (Unaudited) | $10.09 | 0.11 | 0.30 | 0.41 | (0.11) | — | (0.11) |
Year Ended 4/30/2020 | $10.17 | 0.25 | (0.07) | 0.18 | (0.26) | — | (0.26) |
Year Ended 4/30/2019 | $9.94 | 0.26 | 0.25 | 0.51 | (0.28) | — | (0.28) |
Year Ended 4/30/2018 | $10.16 | 0.27 | (0.20) | 0.07 | (0.29) | — | (0.29) |
Year Ended 4/30/2017 | $10.56 | 0.28 | (0.37) | (0.09) | (0.30) | (0.01) | (0.31) |
Year Ended 4/30/2016 | $10.44 | 0.31 | 0.17 | 0.48 | (0.33) | (0.03) | (0.36) |
16 | Columbia South Carolina Intermediate Municipal Bond Fund | Semiannual Report 2020 |
Net asset value, end of period | Total return | Total gross expense ratio to average net assets(a) | Total net expense ratio to average net assets(a),(b) | Net investment income ratio to average net assets | Portfolio turnover | Net assets, end of period (000’s) | |
Class A | |||||||
Six Months Ended 10/31/2020 (Unaudited) | $10.38 | 3.86% | 0.94%(c) | 0.81%(c),(d) | 1.88%(c) | 2% | $27,743 |
Year Ended 4/30/2020 | $10.09 | 1.46% | 0.91% | 0.81%(d) | 2.15% | 9% | $24,421 |
Year Ended 4/30/2019 | $10.17 | 4.93% | 0.93% | 0.81%(d) | 2.37% | 9% | $21,999 |
Year Ended 4/30/2018 | $9.94 | 0.43% | 0.93% | 0.81%(d) | 2.41% | 7% | $23,050 |
Year Ended 4/30/2017 | $10.16 | (0.98%) | 0.98% | 0.81%(d) | 2.45% | 11% | $21,486 |
Year Ended 4/30/2016 | $10.55 | 4.33% | 0.99% | 0.81% | 2.69% | 16% | $21,972 |
Advisor Class | |||||||
Six Months Ended 10/31/2020 (Unaudited) | $10.38 | 3.99% | 0.69%(c) | 0.56%(c),(d) | 2.13%(c) | 2% | $2,911 |
Year Ended 4/30/2020 | $10.09 | 1.82% | 0.65% | 0.56%(d) | 2.40% | 9% | $2,322 |
Year Ended 4/30/2019 | $10.16 | 5.09% | 0.68% | 0.56%(d) | 2.62% | 9% | $1,854 |
Year Ended 4/30/2018 | $9.94 | 0.78% | 0.68% | 0.56%(d) | 2.66% | 7% | $1,984 |
Year Ended 4/30/2017 | $10.15 | (0.74%) | 0.73% | 0.56%(d) | 2.71% | 11% | $1,205 |
Year Ended 4/30/2016 | $10.54 | 4.59% | 0.74% | 0.56% | 2.93% | 16% | $758 |
Class C | |||||||
Six Months Ended 10/31/2020 (Unaudited) | $10.39 | 3.46% | 1.69%(c) | 1.56%(c),(d) | 1.14%(c) | 2% | $4,056 |
Year Ended 4/30/2020 | $10.10 | 0.80% | 1.66% | 1.56%(d) | 1.41% | 9% | $5,039 |
Year Ended 4/30/2019 | $10.17 | 4.14% | 1.68% | 1.56%(d) | 1.62% | 9% | $8,669 |
Year Ended 4/30/2018 | $9.94 | (0.32%) | 1.68% | 1.56%(d) | 1.66% | 7% | $10,759 |
Year Ended 4/30/2017 | $10.16 | (1.81%) | 1.73% | 1.56%(d) | 1.70% | 11% | $13,698 |
Year Ended 4/30/2016 | $10.56 | 3.65% | 1.74% | 1.56% | 1.94% | 16% | $15,051 |
Institutional Class | |||||||
Six Months Ended 10/31/2020 (Unaudited) | $10.39 | 4.09% | 0.69%(c) | 0.56%(c),(d) | 2.13%(c) | 2% | $78,679 |
Year Ended 4/30/2020 | $10.09 | 1.72% | 0.66% | 0.56%(d) | 2.40% | 9% | $69,733 |
Year Ended 4/30/2019 | $10.17 | 5.19% | 0.68% | 0.56%(d) | 2.62% | 9% | $70,343 |
Year Ended 4/30/2018 | $9.94 | 0.68% | 0.68% | 0.56%(d) | 2.66% | 7% | $77,773 |
Year Ended 4/30/2017 | $10.16 | (0.83%) | 0.73% | 0.56%(d) | 2.70% | 11% | $83,743 |
Year Ended 4/30/2016 | $10.56 | 4.69% | 0.74% | 0.56% | 2.93% | 16% | $105,200 |
Columbia South Carolina Intermediate Municipal Bond Fund | Semiannual Report 2020 | 17 |
Net asset value, beginning of period | Net investment income | Net realized and unrealized gain (loss) | Total from investment operations | Distributions from net investment income | Distributions from net realized gains | Total distributions to shareholders | |
Institutional 3 Class | |||||||
Six Months Ended 10/31/2020 (Unaudited) | $10.13 | 0.12 | 0.29 | 0.41 | (0.12) | — | (0.12) |
Year Ended 4/30/2020 | $10.21 | 0.26 | (0.07) | 0.19 | (0.27) | — | (0.27) |
Year Ended 4/30/2019 | $9.98 | 0.27 | 0.25 | 0.52 | (0.29) | — | (0.29) |
Year Ended 4/30/2018 | $10.19 | 0.28 | (0.19) | 0.09 | (0.30) | — | (0.30) |
Year Ended 4/30/2017(e) | $10.13 | 0.05 | 0.06(f) | 0.11 | (0.05) | — | (0.05) |
Notes to Financial Highlights | |
(a) | In addition to the fees and expenses that the Fund bears directly, the Fund indirectly bears a pro rata share of the fees and expenses of any other funds in which it invests. Such indirect expenses are not included in the Fund’s reported expense ratios. |
(b) | Total net expenses include the impact of certain fee waivers/expense reimbursements made by the Investment Manager and certain of its affiliates, if applicable. |
(c) | Annualized. |
(d) | The benefits derived from expense reductions had an impact of less than 0.01%. |
(e) | Institutional 3 Class shares commenced operations on March 1, 2017. Per share data and total return reflect activity from that date. |
(f) | Calculation of the net gain (loss) per share (both realized and unrealized) does not correlate to the aggregate realized and unrealized gain (loss) presented in the Statement of Operations due to the timing of subscriptions and redemptions of Fund shares in relation to fluctuations in the market value of the portfolio. |
18 | Columbia South Carolina Intermediate Municipal Bond Fund | Semiannual Report 2020 |
Net asset value, end of period | Total return | Total gross expense ratio to average net assets(a) | Total net expense ratio to average net assets(a),(b) | Net investment income ratio to average net assets | Portfolio turnover | Net assets, end of period (000’s) | |
Institutional 3 Class | |||||||
Six Months Ended 10/31/2020 (Unaudited) | $10.42 | 4.03% | 0.58%(c) | 0.45%(c) | 2.24%(c) | 2% | $7,498 |
Year Ended 4/30/2020 | $10.13 | 1.83% | 0.53% | 0.45% | 2.50% | 9% | $5,913 |
Year Ended 4/30/2019 | $10.21 | 5.30% | 0.57% | 0.45% | 2.73% | 9% | $852 |
Year Ended 4/30/2018 | $9.98 | 0.91% | 0.56% | 0.45% | 2.79% | 7% | $747 |
Year Ended 4/30/2017(e) | $10.19 | 1.09% | 0.57%(c) | 0.43%(c) | 2.85%(c) | 11% | $10 |
Columbia South Carolina Intermediate Municipal Bond Fund | Semiannual Report 2020 | 19 |
October 31, 2020 (Unaudited)
20 | Columbia South Carolina Intermediate Municipal Bond Fund | Semiannual Report 2020 |
October 31, 2020 (Unaudited)
Columbia South Carolina Intermediate Municipal Bond Fund | Semiannual Report 2020 | 21 |
October 31, 2020 (Unaudited)
22 | Columbia South Carolina Intermediate Municipal Bond Fund | Semiannual Report 2020 |
October 31, 2020 (Unaudited)
Effective rate (%) | |
Class A | 0.12 |
Advisor Class | 0.12 |
Class C | 0.12 |
Institutional Class | 0.12 |
Institutional 3 Class | 0.01 |
Front End (%) | CDSC (%) | Amount ($) | |
Class A | 3.00 | 0.75(a) | 10,437 |
Class C | — | 1.00(b) | — |
(a) | This charge is imposed on certain investments of between $1 million and $50 million redeemed within 18 months after purchase, as follows: 1.00% if redeemed within 12 months after purchase, and 0.50% if redeemed more than 12, but less than 18, months after purchase, with certain limited exceptions. |
(b) | This charge applies to redemptions within 12 months after purchase, with certain limited exceptions. |
Columbia South Carolina Intermediate Municipal Bond Fund | Semiannual Report 2020 | 23 |
October 31, 2020 (Unaudited)
September 1, 2020 through August 31, 2021 | Prior to September 1, 2020 | |
Class A | 0.81% | 0.81% |
Advisor Class | 0.56 | 0.56 |
Class C | 1.56 | 1.56 |
Institutional Class | 0.56 | 0.56 |
Institutional 3 Class | 0.45 | 0.46 |
Federal tax cost ($) | Gross unrealized appreciation ($) | Gross unrealized (depreciation) ($) | Net unrealized appreciation ($) |
113,612,000 | 6,292,000 | (119,000) | 6,173,000 |
No expiration short-term ($) | No expiration long-term ($) | Total ($) |
(436,641) | — | (436,641) |
24 | Columbia South Carolina Intermediate Municipal Bond Fund | Semiannual Report 2020 |
October 31, 2020 (Unaudited)
Columbia South Carolina Intermediate Municipal Bond Fund | Semiannual Report 2020 | 25 |
October 31, 2020 (Unaudited)
26 | Columbia South Carolina Intermediate Municipal Bond Fund | Semiannual Report 2020 |
October 31, 2020 (Unaudited)
Columbia South Carolina Intermediate Municipal Bond Fund | Semiannual Report 2020 | 27 |
October 31, 2020 (Unaudited)
28 | Columbia South Carolina Intermediate Municipal Bond Fund | Semiannual Report 2020 |
Columbia South Carolina Intermediate Municipal Bond Fund | Semiannual Report 2020 | 29 |
The Board also discussed the acceptability of the terms of the Management Agreement (including the relatively broad scope of services required to be performed by Columbia Threadneedle), noting that no material changes are proposed from the form of agreement previously approved. They also noted the wide array of legal and compliance services provided to the Funds under the Management Agreement. It was observed that the services being performed under the Management Agreement were of a reasonable quality.
30 | Columbia South Carolina Intermediate Municipal Bond Fund | Semiannual Report 2020 |
Economies of scale to be realized
Columbia South Carolina Intermediate Municipal Bond Fund | Semiannual Report 2020 | 31 |
columbiathreadneedleus.com/investor/. The Fund is distributed by Columbia Management Investment Distributors, Inc., member FINRA, and managed by Columbia Management Investment Advisers, LLC.
October 31, 2020
(Unaudited)
Average annual total returns (%) (for the period ended October 31, 2020) | ||||||
Inception | 6 Months cumulative | 1 Year | 5 Years | 10 Years | ||
Class A | Excluding sales charges | 12/14/92 | 4.03 | 2.44 | 2.33 | 2.61 |
Including sales charges | 0.89 | -0.67 | 1.70 | 2.30 | ||
Advisor Class* | 03/19/13 | 4.16 | 2.79 | 2.59 | 2.86 | |
Class C | Excluding sales charges | 12/16/92 | 3.64 | 1.77 | 1.57 | 1.85 |
Including sales charges | 2.64 | 0.77 | 1.57 | 1.85 | ||
Institutional Class | 12/11/92 | 4.16 | 2.80 | 2.57 | 2.86 | |
Institutional 3 Class* | 03/01/17 | 4.20 | 2.78 | 2.63 | 2.90 | |
Bloomberg Barclays 3-15 Year Blend Municipal Bond Index | 4.67 | 3.84 | 3.41 | 3.66 |
* | The returns shown for periods prior to the share class inception date (including returns for the Life of the Fund, if shown, which are since Fund inception) include the returns of the Fund’s oldest share class. These returns are adjusted to reflect any higher class-related operating expenses of the newer share classes, as applicable. Please visit columbiathreadneedleus.com/investor/investment-products /mutual-funds/appended-performance for more information. |
Columbia North Carolina Intermediate Municipal Bond Fund | Semiannual Report 2020 | 3 |
(Unaudited)
Quality breakdown (%) (at October 31, 2020) | |
AAA rating | 18.6 |
AA rating | 43.5 |
A rating | 24.5 |
BBB rating | 9.6 |
Not rated | 3.8 |
Total | 100.0 |
4 | Columbia North Carolina Intermediate Municipal Bond Fund | Semiannual Report 2020 |
(Unaudited)
May 1, 2020 — October 31, 2020 | |||||||
Account value at the beginning of the period ($) | Account value at the end of the period ($) | Expenses paid during the period ($) | Fund’s annualized expense ratio (%) | ||||
Actual | Hypothetical | Actual | Hypothetical | Actual | Hypothetical | Actual | |
Class A | 1,000.00 | 1,000.00 | 1,040.30 | 1,021.01 | 4.14 | 4.10 | 0.81 |
Advisor Class | 1,000.00 | 1,000.00 | 1,041.60 | 1,022.26 | 2.87 | 2.84 | 0.56 |
Class C | 1,000.00 | 1,000.00 | 1,036.40 | 1,017.30 | 7.91 | 7.84 | 1.55 |
Institutional Class | 1,000.00 | 1,000.00 | 1,041.60 | 1,022.26 | 2.87 | 2.84 | 0.56 |
Institutional 3 Class | 1,000.00 | 1,000.00 | 1,042.00 | 1,022.66 | 2.46 | 2.43 | 0.48 |
Columbia North Carolina Intermediate Municipal Bond Fund | Semiannual Report 2020 | 5 |
October 31, 2020 (Unaudited)
Floating Rate Notes 1.9% | ||||
Issue Description | Effective Yield | Principal Amount ($) | Value ($) | |
Variable Rate Demand Notes 1.9% | ||||
Charlotte-Mecklenburg Hospital Authority (The)(a),(b) | ||||
Revenue Bonds | ||||
Series 2018 (JPMorgan Chase Bank) | ||||
01/15/2048 | 0.110% | 2,000,000 | 2,000,000 | |
City of Murray(a),(b) | ||||
Revenue Bonds | ||||
IHC Health Services, Inc. | ||||
Series 2005A (JPMorgan Chase Bank) | ||||
05/15/2037 | 0.110% | 1,960,000 | 1,960,000 | |
Total | 3,960,000 | |||
Total Floating Rate Notes (Cost $3,960,000) | 3,960,000 | |||
Municipal Bonds 96.6% | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Airport 3.0% | ||||
City of Charlotte Airport(c) | ||||
Revenue Bonds | ||||
Charlotte Douglas International | ||||
Series 2019 | ||||
07/01/2035 | 5.000% | 1,195,000 | 1,465,118 | |
City of Charlotte Airport | ||||
Revenue Bonds | ||||
Series 2017A | ||||
07/01/2028 | 5.000% | 500,000 | 623,060 | |
Raleigh Durham Airport Authority(c) | ||||
Refunding Revenue Bonds | ||||
Series 2020A | ||||
05/01/2034 | 5.000% | 1,150,000 | 1,446,470 | |
05/01/2036 | 5.000% | 2,000,000 | 2,496,020 | |
Total | 6,030,668 | |||
Forest Products 0.5% | ||||
Columbus County Industrial Facilities & Pollution Control Financing Authority | ||||
Refunding Revenue Bonds | ||||
International Paper Co. Project | ||||
Series 2020 (Mandatory Put 06/16/25) | ||||
05/01/2034 | 1.375% | 1,000,000 | 1,016,430 | |
Higher Education 8.5% | ||||
Appalachian State University | ||||
Refunding Revenue Bonds | ||||
Series 2016A | ||||
10/01/2026 | 5.000% | 325,000 | 395,557 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Revenue Bonds | ||||
Series 2018 | ||||
05/01/2035 | 5.000% | 1,095,000 | 1,305,043 | |
East Carolina University | ||||
Revenue Bonds | ||||
General | ||||
Series 2014A | ||||
10/01/2031 | 5.000% | 1,900,000 | 2,126,556 | |
North Carolina Agricultural & Technical State University | ||||
Refunding Revenue Bonds | ||||
General Purpose | ||||
Series 2015A | ||||
10/01/2032 | 5.000% | 2,000,000 | 2,279,740 | |
North Carolina Capital Facilities Finance Agency | ||||
Revenue Bonds | ||||
Wake Forest University | ||||
Series 2018 | ||||
01/01/2034 | 5.000% | 400,000 | 497,052 | |
North Carolina Central University | ||||
Refunding Revenue Bonds | ||||
Series 2016 | ||||
10/01/2029 | 4.000% | 625,000 | 692,419 | |
Revenue Bonds | ||||
Series 2019 | ||||
04/01/2036 | 5.000% | 500,000 | 601,435 | |
04/01/2038 | 5.000% | 500,000 | 597,455 | |
North Carolina State University at Raleigh | ||||
Refunding Revenue Bonds | ||||
General | ||||
Series 2018 | ||||
10/01/2027 | 5.000% | 300,000 | 386,874 | |
10/01/2028 | 5.000% | 250,000 | 329,857 | |
University of North Carolina at Charlotte (The) | ||||
Refunding Revenue Bonds | ||||
Governors | ||||
Series 2020A | ||||
10/01/2035 | 4.000% | 200,000 | 235,678 | |
10/01/2037 | 4.000% | 300,000 | 350,808 | |
Revenue Bonds | ||||
Board of Governors | ||||
Series 2017 | ||||
10/01/2029 | 5.000% | 500,000 | 626,670 | |
Series 2014 | ||||
04/01/2030 | 5.000% | 1,000,000 | 1,127,130 | |
University of North Carolina at Greensboro | ||||
Refunding Revenue Bonds | ||||
Series 2016 | ||||
04/01/2029 | 5.000% | 390,000 | 466,916 | |
04/01/2030 | 5.000% | 250,000 | 297,808 |
6 | Columbia North Carolina Intermediate Municipal Bond Fund | Semiannual Report 2020 |
October 31, 2020 (Unaudited)
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Revenue Bonds | ||||
General | ||||
Series 2014 | ||||
04/01/2032 | 5.000% | 2,000,000 | 2,243,920 | |
University of North Carolina at Wilmington | ||||
Refunding Revenue Bonds | ||||
Series 2019B | ||||
10/01/2034 | 5.000% | 355,000 | 456,292 | |
Western Carolina University | ||||
Revenue Bonds | ||||
General | ||||
Series 2018 | ||||
10/01/2033 | 5.000% | 250,000 | 308,920 | |
10/01/2034 | 5.000% | 575,000 | 708,935 | |
Series 2020B | ||||
04/01/2033 | 5.000% | 1,000,000 | 1,295,910 | |
Total | 17,330,975 | |||
Hospital 4.6% | ||||
County of New Hanover | ||||
Refunding Revenue Bonds | ||||
New Hanover Regional Medical Center | ||||
Series 2017 | ||||
10/01/2030 | 5.000% | 1,200,000 | 1,463,712 | |
North Carolina Medical Care Commission | ||||
Refunding Revenue Bonds | ||||
Novant Health Obligation Group | ||||
Series 2013 | ||||
11/01/2024 | 5.000% | 530,000 | 574,865 | |
Southeastern Regional Medical Center | ||||
Series 2012 | ||||
06/01/2026 | 5.000% | 1,000,000 | 1,057,990 | |
Vidant Health | ||||
Series 2015 | ||||
06/01/2030 | 5.000% | 1,000,000 | 1,168,820 | |
WakeMed | ||||
Series 2012A | ||||
10/01/2031 | 5.000% | 2,000,000 | 2,124,480 | |
Revenue Bonds | ||||
REX Health Care | ||||
Series 2020A | ||||
07/01/2035 | 5.000% | 800,000 | 997,088 | |
Rex Hospital, Inc. | ||||
Series 2015A | ||||
07/01/2032 | 5.000% | 1,000,000 | 1,138,920 | |
Wake Forest Baptist Obligation Group | ||||
Series 2019 | ||||
12/01/2033 | 5.000% | 595,000 | 728,958 | |
Total | 9,254,833 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Joint Power Authority 4.2% | ||||
North Carolina Municipal Power Agency No. 1 | ||||
Refunding Revenue Bonds | ||||
Series 2015A | ||||
01/01/2026 | 5.000% | 1,500,000 | 1,809,105 | |
01/01/2031 | 5.000% | 2,000,000 | 2,341,440 | |
Series 2016A | ||||
01/01/2028 | 5.000% | 1,500,000 | 1,808,295 | |
Series 2019A | ||||
01/01/2032 | 5.000% | 2,000,000 | 2,548,300 | |
Total | 8,507,140 | |||
Local Appropriation 17.5% | ||||
City of Charlotte | ||||
Refunding Certificate of Participation | ||||
Series 2019B | ||||
06/01/2034 | 5.000% | 2,000,000 | 2,591,780 | |
City of Durham | ||||
Revenue Bonds | ||||
Series 2018 | ||||
04/01/2034 | 4.000% | 1,000,000 | 1,172,280 | |
City of Kannapolis | ||||
Revenue Bonds | ||||
Series 2014 | ||||
04/01/2031 | 5.000% | 1,365,000 | 1,566,761 | |
City of Monroe | ||||
Refunding Revenue Bonds | ||||
Series 2016 | ||||
03/01/2035 | 5.000% | 1,000,000 | 1,180,270 | |
City of Wilmington | ||||
Refunding Revenue Bonds | ||||
Series 2014A | ||||
06/01/2028 | 5.000% | 500,000 | 578,560 | |
City of Winston-Salem | ||||
Refunding Revenue Bonds | ||||
Series 2014C | ||||
06/01/2029 | 5.000% | 750,000 | 871,027 | |
County of Brunswick | ||||
Revenue Bonds | ||||
Series 2015A | ||||
06/01/2028 | 5.000% | 250,000 | 296,723 | |
06/01/2029 | 5.000% | 250,000 | 295,220 | |
County of Buncombe | ||||
Revenue Bonds | ||||
Series 2014A | ||||
06/01/2032 | 5.000% | 1,635,000 | 1,881,820 | |
County of Catawba | ||||
Revenue Bonds | ||||
Series 2011 | ||||
10/01/2022 | 5.000% | 400,000 | 417,204 |
Columbia North Carolina Intermediate Municipal Bond Fund | Semiannual Report 2020 | 7 |
October 31, 2020 (Unaudited)
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Series 2018 | ||||
12/01/2036 | 4.000% | 1,940,000 | 2,272,885 | |
County of Dare | ||||
Refunding Revenue Bonds | ||||
Series 2016A | ||||
06/01/2031 | 4.000% | 225,000 | 258,507 | |
County of Davidson | ||||
Revenue Bonds | ||||
Series 2020 | ||||
06/01/2037 | 4.000% | 400,000 | 479,116 | |
County of Gaston | ||||
Revenue Bonds | ||||
Series 2019A | ||||
04/01/2034 | 5.000% | 250,000 | 320,218 | |
04/01/2035 | 5.000% | 300,000 | 383,112 | |
County of Harnett | ||||
Refunding Revenue Bonds | ||||
Series 2020 | ||||
12/01/2027 | 5.000% | 375,000 | 483,169 | |
Revenue Bonds | ||||
Series 2019 | ||||
10/01/2037 | 4.000% | 955,000 | 1,115,879 | |
County of Henderson | ||||
Revenue Bonds | ||||
Series 2020 | ||||
06/01/2029 | 5.000% | 525,000 | 692,039 | |
County of Lee | ||||
Revenue Bonds | ||||
Series 2018 | ||||
05/01/2036 | 4.000% | 500,000 | 581,195 | |
County of Martin | ||||
Refunding Revenue Bonds | ||||
Water & Sewer District | ||||
Series 2014 | ||||
06/01/2030 | 4.000% | 730,000 | 802,744 | |
County of Onslow | ||||
Revenue Bonds | ||||
Series 2015 | ||||
06/01/2027 | 4.000% | 405,000 | 464,859 | |
Series 2016 | ||||
10/01/2028 | 5.000% | 1,000,000 | 1,237,370 | |
County of Pender | ||||
Revenue Bonds | ||||
Series 2015 | ||||
04/01/2027 | 5.000% | 1,165,000 | 1,390,975 | |
04/01/2028 | 5.000% | 1,290,000 | 1,536,067 | |
County of Randolph | ||||
Refunding Revenue Bonds | ||||
Series 2013C | ||||
10/01/2026 | 5.000% | 1,500,000 | 1,874,580 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Revenue Bonds | ||||
Series 2019B | ||||
10/01/2034 | 5.000% | 500,000 | 643,625 | |
County of Sampson | ||||
Refunding Revenue Bonds | ||||
Series 2017 | ||||
09/01/2035 | 4.000% | 1,000,000 | 1,147,840 | |
County of Surry | ||||
Revenue Bonds | ||||
Series 2019 | ||||
06/01/2032 | 5.000% | 275,000 | 356,670 | |
06/01/2033 | 5.000% | 350,000 | 451,465 | |
County of Union | ||||
Refunding Revenue Bonds | ||||
Series 2012 | ||||
12/01/2024 | 5.000% | 1,715,000 | 2,038,157 | |
County of Wake | ||||
Refunding Revenue Bonds | ||||
Series 2018A | ||||
08/01/2036 | 4.000% | 2,000,000 | 2,334,260 | |
County of Wilkes | ||||
Refunding Revenue Bonds | ||||
Series 2015 | ||||
06/01/2027 | 5.000% | 500,000 | 604,190 | |
06/01/2029 | 5.000% | 500,000 | 601,670 | |
Durham Capital Financing Corp. | ||||
Revenue Bonds | ||||
Series 2018 | ||||
10/01/2035 | 4.000% | 1,500,000 | 1,769,910 | |
Orange County Public Facilities Co. | ||||
Unrefunded Revenue Bonds | ||||
Series 2012 | ||||
10/01/2024 | 5.000% | 835,000 | 909,123 | |
Total | 35,601,270 | |||
Local General Obligation 11.0% | ||||
City of Charlotte | ||||
Unlimited General Obligation Refunding Bonds | ||||
Series 2020A | ||||
06/01/2027 | 5.000% | 725,000 | 933,003 | |
City of Greensboro | ||||
Unlimited General Obligation Bonds | ||||
Series 2020B | ||||
Series 2020B | ||||
04/01/2031 | 5.000% | 2,205,000 | 3,003,409 | |
Unlimited General Obligation Refunding Bonds | ||||
Series 2020D | ||||
Series 2020D | ||||
10/01/2030 | 5.000% | 1,785,000 | 2,472,296 |
8 | Columbia North Carolina Intermediate Municipal Bond Fund | Semiannual Report 2020 |
October 31, 2020 (Unaudited)
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
County of Durham | ||||
Unlimited General Obligation Bonds | ||||
Series 2019 | ||||
06/01/2032 | 5.000% | 620,000 | 818,257 | |
County of Forsyth | ||||
Unlimited General Obligation Bonds | ||||
Public Improvement | ||||
Series 2019B | ||||
03/01/2026 | 5.000% | 1,000,000 | 1,243,280 | |
County of Gaston | ||||
Unlimited General Obligation Refunding Bonds | ||||
Series 2020 | ||||
02/01/2028 | 5.000% | 1,500,000 | 1,949,880 | |
02/01/2029 | 5.000% | 1,500,000 | 1,990,155 | |
County of Guilford | ||||
Unlimited General Obligation Bonds | ||||
Public Improvement | ||||
Series 2017B | ||||
05/01/2026 | 5.000% | 1,000,000 | 1,249,050 | |
County of Henderson | ||||
Revenue Bonds | ||||
Series 2015 | ||||
10/01/2030 | 5.000% | 500,000 | 592,310 | |
County of Mecklenburg | ||||
Unlimited General Obligation Public Improvement Bonds | ||||
Series 2016B | ||||
12/01/2027 | 5.000% | 1,180,000 | 1,488,617 | |
County of Moore | ||||
Unlimited General Obligation Refunding Bonds | ||||
Series 2016 | ||||
06/01/2028 | 5.000% | 1,000,000 | 1,305,580 | |
County of Pitt | ||||
Refunding Revenue Bonds | ||||
Series 2017 | ||||
04/01/2022 | 5.000% | 750,000 | 800,370 | |
04/01/2024 | 5.000% | 410,000 | 473,763 | |
County of Wake | ||||
Unlimited General Obligation Public Improvement Bonds | ||||
Series 2019A | ||||
03/01/2033 | 5.000% | 1,500,000 | 1,960,830 | |
Unlimited General Obligation Refunding Bonds | ||||
Series 2010C | ||||
03/01/2022 | 5.000% | 2,000,000 | 2,126,680 | |
Total | 22,407,480 | |||
Multi-Family 3.9% | ||||
North Carolina Capital Facilities Finance Agency | ||||
Refunding Revenue Bonds | ||||
North Carolina A&T University Foundation Project | ||||
Series 2015A | ||||
06/01/2028 | 5.000% | 1,000,000 | 1,172,630 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
The Arc of North Carolina | ||||
Series 2017 | ||||
10/01/2034 | 5.000% | 1,500,000 | 1,709,040 | |
University of North Carolina at Wilmington | ||||
Refunding Revenue Bonds | ||||
Series 2015 | ||||
06/01/2029 | 5.000% | 2,000,000 | 2,283,560 | |
Western Carolina University | ||||
Limited General Obligation Refunding Revenue Bonds | ||||
Student Housing | ||||
Series 2016 (AGM) | ||||
06/01/2027 | 5.000% | 500,000 | 603,935 | |
06/01/2028 | 5.000% | 1,000,000 | 1,199,590 | |
06/01/2029 | 5.000% | 800,000 | 951,528 | |
Total | 7,920,283 | |||
Municipal Power 1.3% | ||||
City of Fayetteville Public Works Commission | ||||
Revenue Bonds | ||||
Series 2014 | ||||
03/01/2027 | 4.000% | 1,250,000 | 1,386,125 | |
Greenville Utilities Commission | ||||
Revenue Bonds | ||||
Series 2019 | ||||
08/01/2032 | 5.000% | 625,000 | 816,712 | |
08/01/2033 | 5.000% | 400,000 | 518,420 | |
Total | 2,721,257 | |||
Refunded / Escrowed 9.6% | ||||
City of Raleigh Combined Enterprise System | ||||
Prerefunded 03/01/21 Revenue Bonds | ||||
Series 2011 | ||||
03/01/2027 | 5.000% | 800,000 | 812,656 | |
County of Buncombe | ||||
Prerefunded 06/01/22 Revenue Bonds | ||||
Series 2012 | ||||
06/01/2028 | 5.000% | 500,000 | 537,375 | |
06/01/2029 | 5.000% | 1,000,000 | 1,074,750 | |
County of Johnston | ||||
Prerefunded 06/01/24 Revenue Bonds | ||||
Series 2014 | ||||
06/01/2028 | 5.000% | 1,000,000 | 1,167,130 | |
County of Wake | ||||
Prerefunded 10/01/26 Revenue Bonds | ||||
Series 1993 Escrowed to Maturity (NPFGC) | ||||
10/01/2026 | 5.125% | 1,485,000 | 1,708,166 | |
Jacksonville Public Facilities Corp. | ||||
Prerefunded 04/01/22 Limited Obligation Revenue Bonds | ||||
Series 2012 | ||||
04/01/2026 | 5.000% | 1,075,000 | 1,146,251 |
Columbia North Carolina Intermediate Municipal Bond Fund | Semiannual Report 2020 | 9 |
October 31, 2020 (Unaudited)
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
North Carolina Eastern Municipal Power Agency | ||||
Prerefunded 01/01/22 Revenue Bonds | ||||
Series 1988A | ||||
01/01/2026 | 6.000% | 1,000,000 | 1,065,650 | |
Refunding Revenue Bonds | ||||
Series 1993B Escrowed to Maturity (NPFGC) | ||||
01/01/2022 | 6.000% | 1,000,000 | 1,065,040 | |
Series 1993B Escrowed to Maturity (NPFGC/IBC) | ||||
01/01/2022 | 6.000% | 3,000,000 | 3,195,120 | |
North Carolina Medical Care Commission | ||||
Prerefunded 06/01/22 Revenue Bonds | ||||
Duke University Health System | ||||
Series 2012A | ||||
06/01/2032 | 5.000% | 3,635,000 | 3,906,716 | |
Vidant Health | ||||
Series 2012A | ||||
06/01/2025 | 5.000% | 1,500,000 | 1,610,880 | |
06/01/2036 | 5.000% | 1,445,000 | 1,551,814 | |
Orange County Public Facilities Co. | ||||
Prerefunded 10/01/22 Revenue Bonds | ||||
Series 2012 | ||||
10/01/2024 | 5.000% | 490,000 | 533,360 | |
Total | 19,374,908 | |||
Retirement Communities 6.0% | ||||
North Carolina Medical Care Commission | ||||
Refunding Revenue Bonds | ||||
1st Mortgage-United Church | ||||
Series 2015A | ||||
09/01/2030 | 4.500% | 1,000,000 | 1,001,680 | |
1st Mortgage-United Methodist | ||||
Series 2013A | ||||
10/01/2033 | 5.000% | 1,595,000 | 1,657,939 | |
Pennybyrn at Maryfield | ||||
Series 2015 | ||||
10/01/2025 | 5.000% | 750,000 | 796,147 | |
Retirement Facilities 1st Mortgage | ||||
Series 2019 | ||||
01/01/2039 | 5.000% | 1,000,000 | 1,041,720 | |
Sharon Towers | ||||
Series 2019A | ||||
07/01/2033 | 5.000% | 1,000,000 | 1,091,260 | |
Southminster, Inc. | ||||
Series 2016 | ||||
10/01/2025 | 5.000% | 1,260,000 | 1,340,464 | |
United Methodist Retirement | ||||
Series 2016 | ||||
10/01/2030 | 5.000% | 700,000 | 770,119 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Revenue Bonds | ||||
Pennybyrn at Maryfield Project | ||||
Series 2020B-2 | ||||
10/01/2024 | 2.500% | 745,000 | 744,166 | |
Presbyterian Homes Obligated Group (The) | ||||
Series 2020 | ||||
10/01/2035 | 4.000% | 650,000 | 731,055 | |
The Pines at Davidson Project | ||||
Series 2019 | ||||
01/01/2038 | 5.000% | 1,000,000 | 1,076,530 | |
Twin Lakes Community | ||||
Series 2019A | ||||
01/01/2038 | 5.000% | 1,750,000 | 1,898,487 | |
Total | 12,149,567 | |||
Sales Tax 0.6% | ||||
City of Rocky Mount | ||||
Revenue Bonds | ||||
Series 2016 | ||||
05/01/2028 | 5.000% | 1,000,000 | 1,224,090 | |
Single Family 2.4% | ||||
North Carolina Housing Finance Agency | ||||
Revenue Bonds | ||||
Series 2017-38B (GNMA) | ||||
07/01/2037 | 3.850% | 1,955,000 | 2,140,842 | |
Series 2019-41 (GNMA) | ||||
07/01/2034 | 3.100% | 735,000 | 792,698 | |
Series 2019-42 | ||||
07/01/2039 | 2.625% | 1,000,000 | 1,034,350 | |
Series 44 | ||||
01/01/2027 | 1.950% | 830,000 | 866,088 | |
Total | 4,833,978 | |||
State Appropriated 1.2% | ||||
State of North Carolina | ||||
Refunding Revenue Bonds | ||||
Series 2014B | ||||
06/01/2025 | 5.000% | 2,000,000 | 2,414,740 | |
State General Obligation 3.3% | ||||
State of North Carolina | ||||
Unlimited General Obligation Bonds | ||||
Series 2020A | ||||
06/01/2029 | 5.000% | 2,000,000 | 2,696,520 | |
06/01/2030 | 5.000% | 2,000,000 | 2,751,100 | |
Unlimited General Obligation Refunding Bonds | ||||
Series 2016A | ||||
06/01/2026 | 5.000% | 1,000,000 | 1,252,520 | |
Total | 6,700,140 |
10 | Columbia North Carolina Intermediate Municipal Bond Fund | Semiannual Report 2020 |
October 31, 2020 (Unaudited)
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Transportation 1.3% | ||||
State of North Carolina | ||||
Revenue Bonds | ||||
Series 2019 | ||||
03/01/2033 | 5.000% | 1,250,000 | 1,603,125 | |
Vehicle - GARVEE | ||||
Series 2015 | ||||
03/01/2027 | 5.000% | 900,000 | 1,065,348 | |
Total | 2,668,473 | |||
Turnpike / Bridge / Toll Road 4.3% | ||||
North Carolina Turnpike Authority | ||||
Refunding Revenue Bonds | ||||
Senior Lien | ||||
Series 2017 | ||||
01/01/2030 | 5.000% | 1,700,000 | 2,023,935 | |
01/01/2032 | 5.000% | 1,450,000 | 1,704,779 | |
Series 2017 (AGM) | ||||
01/01/2031 | 5.000% | 750,000 | 901,208 | |
Revenue Bonds | ||||
BAN Series 2020 | ||||
02/01/2024 | 5.000% | 2,000,000 | 2,259,540 | |
North Carolina Turnpike Authority(d) | ||||
Refunding Revenue Bonds | ||||
Series 2016C | ||||
07/01/2029 | 0.000% | 750,000 | 572,400 | |
Revenue Bonds | ||||
Series 2017C | ||||
07/01/2030 | 0.000% | 550,000 | 398,233 | |
07/01/2031 | 0.000% | 1,100,000 | 753,104 | |
Total | 8,613,199 | |||
Water & Sewer 13.4% | ||||
City of Charlotte Water & Sewer System | ||||
Refunding Revenue Bonds | ||||
Series 2015 | ||||
07/01/2024 | 5.000% | 1,010,000 | 1,184,720 | |
Series 2018 | ||||
07/01/2035 | 4.000% | 2,000,000 | 2,386,400 | |
Series 2020 | ||||
07/01/2036 | 4.000% | 2,000,000 | 2,451,380 | |
City of Gastonia Combined Utilities System | ||||
Revenue Bonds | ||||
Series 2015 | ||||
05/01/2029 | 5.000% | 265,000 | 311,571 | |
05/01/2030 | 5.000% | 660,000 | 772,814 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
City of Greensboro Combined Water & Sewer System | ||||
Refunding Revenue Bonds | ||||
Series 2006 | ||||
06/01/2022 | 5.250% | 1,200,000 | 1,294,812 | |
06/01/2023 | 5.250% | 2,000,000 | 2,257,220 | |
City of Jacksonville Enterprise System | ||||
Refunding Revenue Bonds | ||||
Series 2016 | ||||
05/01/2028 | 5.250% | 250,000 | 322,973 | |
City of Raleigh Combined Enterprise System | ||||
Refunding Revenue Bonds | ||||
Series 2015B | ||||
12/01/2025 | 5.000% | 1,200,000 | 1,481,280 | |
City of Thomasville Combined Enterprise System | ||||
Refunding Revenue Bonds | ||||
Series 2012 | ||||
05/01/2026 | 4.000% | 860,000 | 901,968 | |
City of Winston-Salem Water & Sewer System | ||||
Refunding Revenue Bonds | ||||
Series 2016A | ||||
06/01/2024 | 5.000% | 1,300,000 | 1,519,388 | |
06/01/2033 | 4.000% | 2,165,000 | 2,485,896 | |
Series 2020A | ||||
06/01/2036 | 4.000% | 2,000,000 | 2,456,700 | |
Revenue Bonds | ||||
Series 2017 | ||||
06/01/2031 | 4.000% | 400,000 | 473,988 | |
County of Brunswick Enterprise Systems | ||||
Refunding Revenue Bonds | ||||
Series 2015 | ||||
04/01/2027 | 5.000% | 1,500,000 | 1,776,540 | |
Revenue Bonds | ||||
Enterprise System | ||||
Series 2020 | ||||
04/01/2033 | 4.000% | 500,000 | 607,845 | |
County of Dare Utilities System | ||||
Refunding Revenue Bonds | ||||
Series 2017 | ||||
02/01/2032 | 4.000% | 300,000 | 348,708 | |
County of Lincoln Enterprise System | ||||
Refunding Revenue Bonds | ||||
Series 2020 | ||||
08/01/2029 | 5.000% | 320,000 | 427,462 | |
County of Union Enterprise System | ||||
Revenue Bonds | ||||
Enterprise System | ||||
Series 2019 | ||||
06/01/2031 | 5.000% | 1,000,000 | 1,315,600 | |
Series 2015 | ||||
06/01/2029 | 5.000% | 500,000 | 600,085 |
Columbia North Carolina Intermediate Municipal Bond Fund | Semiannual Report 2020 | 11 |
October 31, 2020 (Unaudited)
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Onslow Water & Sewer Authority | ||||
Refunding Revenue Bonds | ||||
Series 2016 | ||||
12/01/2031 | 4.000% | 820,000 | 950,503 | |
Town of Fuquay-Varina Combined Utilities System | ||||
Revenue Bonds | ||||
Series 2016 | ||||
04/01/2030 | 5.000% | 335,000 | 403,725 | |
04/01/2031 | 5.000% | 450,000 | 538,916 | |
Total | 27,270,494 | |||
Total Municipal Bonds (Cost $186,061,902) | 196,039,925 |
Money Market Funds 0.7% | ||
Shares | Value ($) | |
Dreyfus AMT-Free Tax Exempt Cash Management Fund, Institutional Shares, 0.010%(e) | 512,775 | 512,724 |
JPMorgan Institutional Tax Free Money Market Fund, Institutional Shares, 0.012%(e) | 849,166 | 849,166 |
Total Money Market Funds (Cost $1,361,941) | 1,361,890 | |
Total Investments in Securities (Cost: $191,383,843) | 201,361,815 | |
Other Assets & Liabilities, Net | 1,660,741 | |
Net Assets | 203,022,556 |
(a) | The Fund is entitled to receive principal and interest from the guarantor after a day or a week’s notice or upon maturity. The maturity date disclosed represents the final maturity. |
(b) | Represents a variable rate security where the coupon rate adjusts on specified dates (generally daily or weekly) using the prevailing money market rate. The interest rate shown was the current rate as of October 31, 2020. |
(c) | Income from this security may be subject to alternative minimum tax. |
(d) | Zero coupon bond. |
(e) | The rate shown is the seven-day current annualized yield at October 31, 2020. |
AGM | Assured Guaranty Municipal Corporation |
BAN | Bond Anticipation Note |
GNMA | Government National Mortgage Association |
NPFGC | National Public Finance Guarantee Corporation |
■ | Level 1 — Valuations based on quoted prices for investments in active markets that the Fund has the ability to access at the measurement date. Valuation adjustments are not applied to Level 1 investments. |
■ | Level 2 — Valuations based on other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risks, etc.). |
■ | Level 3 — Valuations based on significant unobservable inputs (including the Fund’s own assumptions and judgment in determining the fair value of investments). |
12 | Columbia North Carolina Intermediate Municipal Bond Fund | Semiannual Report 2020 |
October 31, 2020 (Unaudited)
Under the direction of the Fund’s Board of Trustees (the Board), the Investment Manager’s Valuation Committee (the Committee) is responsible for overseeing the valuation procedures approved by the Board. The Committee consists of voting and non-voting members from various groups within the Investment Manager’s organization, including operations and accounting, trading and investments, compliance, risk management and legal.
Level 1 ($) | Level 2 ($) | Level 3 ($) | Total ($) | |
Investments in Securities | ||||
Floating Rate Notes | — | 3,960,000 | — | 3,960,000 |
Municipal Bonds | — | 196,039,925 | — | 196,039,925 |
Money Market Funds | 1,361,890 | — | — | 1,361,890 |
Total Investments in Securities | 1,361,890 | 199,999,925 | — | 201,361,815 |
Columbia North Carolina Intermediate Municipal Bond Fund | Semiannual Report 2020 | 13 |
October 31, 2020 (Unaudited)
Assets | |
Investments in securities, at value | |
Unaffiliated issuers (cost $191,383,843) | $201,361,815 |
Receivable for: | |
Investments sold | 5,052 |
Capital shares sold | 96,425 |
Interest | 2,075,714 |
Expense reimbursement due from Investment Manager | 222 |
Prepaid expenses | 2,551 |
Other assets | 1,210 |
Total assets | 203,542,989 |
Liabilities | |
Due to custodian | 154 |
Payable for: | |
Capital shares purchased | 45,943 |
Distributions to shareholders | 335,152 |
Management services fees | 2,606 |
Distribution and/or service fees | 198 |
Transfer agent fees | 3,900 |
Compensation of board members | 110,232 |
Compensation of chief compliance officer | 20 |
Other expenses | 22,228 |
Total liabilities | 520,433 |
Net assets applicable to outstanding capital stock | $203,022,556 |
Represented by | |
Paid in capital | 193,498,123 |
Total distributable earnings (loss) | 9,524,433 |
Total - representing net assets applicable to outstanding capital stock | $203,022,556 |
Class A | |
Net assets | $18,329,040 |
Shares outstanding | 1,730,443 |
Net asset value per share | $10.59 |
Maximum sales charge | 3.00% |
Maximum offering price per share (calculated by dividing the net asset value per share by 1.0 minus the maximum sales charge for Class A shares) | $10.92 |
Advisor Class | |
Net assets | $5,000,397 |
Shares outstanding | 472,769 |
Net asset value per share | $10.58 |
Class C | |
Net assets | $2,681,619 |
Shares outstanding | 253,227 |
Net asset value per share | $10.59 |
Institutional Class | |
Net assets | $25,417,607 |
Shares outstanding | 2,402,131 |
Net asset value per share | $10.58 |
Institutional 3 Class | |
Net assets | $151,593,893 |
Shares outstanding | 14,282,776 |
Net asset value per share | $10.61 |
14 | Columbia North Carolina Intermediate Municipal Bond Fund | Semiannual Report 2020 |
Six Months Ended October 31, 2020 (Unaudited)
Net investment income | |
Income: | |
Dividends — unaffiliated issuers | $4,976 |
Interest | 2,585,306 |
Total income | 2,590,282 |
Expenses: | |
Management services fees | 475,552 |
Distribution and/or service fees | |
Class A | 22,439 |
Class C | 14,480 |
Transfer agent fees | |
Class A | 7,743 |
Advisor Class | 2,183 |
Class C | 1,252 |
Institutional Class | 10,862 |
Institutional 3 Class | 5,641 |
Compensation of board members | 28,400 |
Custodian fees | 842 |
Printing and postage fees | 4,908 |
Registration fees | 5,914 |
Audit fees | 14,790 |
Legal fees | 5,583 |
Compensation of chief compliance officer | 20 |
Other | 5,138 |
Total expenses | 605,747 |
Fees waived or expenses reimbursed by Investment Manager and its affiliates | (64,292) |
Total net expenses | 541,455 |
Net investment income | 2,048,827 |
Realized and unrealized gain (loss) — net | |
Net realized gain (loss) on: | |
Investments — unaffiliated issuers | 3,572 |
Net realized gain | 3,572 |
Net change in unrealized appreciation (depreciation) on: | |
Investments — unaffiliated issuers | 5,898,607 |
Net change in unrealized appreciation (depreciation) | 5,898,607 |
Net realized and unrealized gain | 5,902,179 |
Net increase in net assets resulting from operations | $7,951,006 |
Columbia North Carolina Intermediate Municipal Bond Fund | Semiannual Report 2020 | 15 |
Six Months Ended October 31, 2020 (Unaudited) | Year Ended April 30, 2020 | |
Operations | ||
Net investment income | $2,048,827 | $4,219,556 |
Net realized gain | 3,572 | 12,145 |
Net change in unrealized appreciation (depreciation) | 5,898,607 | (1,750,607) |
Net increase in net assets resulting from operations | 7,951,006 | 2,481,094 |
Distributions to shareholders | ||
Net investment income and net realized gains | ||
Class A | (158,947) | (346,307) |
Advisor Class | (51,153) | (120,443) |
Class C | (14,738) | (44,538) |
Institutional Class | (254,639) | (538,584) |
Institutional 3 Class | (1,588,083) | (3,169,684) |
Total distributions to shareholders | (2,067,560) | (4,219,556) |
Increase in net assets from capital stock activity | 6,814,960 | 22,545,674 |
Total increase in net assets | 12,698,406 | 20,807,212 |
Net assets at beginning of period | 190,324,150 | 169,516,938 |
Net assets at end of period | $203,022,556 | $190,324,150 |
16 | Columbia North Carolina Intermediate Municipal Bond Fund | Semiannual Report 2020 |
Six Months Ended | Year Ended | |||
October 31, 2020 (Unaudited) | April 30, 2020 | |||
Shares | Dollars ($) | Shares | Dollars ($) | |
Capital stock activity | ||||
Class A | ||||
Subscriptions | 118,553 | 1,256,644 | 231,609 | 2,434,674 |
Distributions reinvested | 12,280 | 130,390 | 26,913 | 282,955 |
Redemptions | (72,517) | (765,424) | (179,902) | (1,879,023) |
Net increase | 58,316 | 621,610 | 78,620 | 838,606 |
Advisor Class | ||||
Subscriptions | 28,470 | 301,728 | 106,117 | 1,108,584 |
Distributions reinvested | 4,816 | 51,051 | 11,449 | 120,217 |
Redemptions | (40,996) | (434,335) | (170,461) | (1,788,005) |
Net decrease | (7,710) | (81,556) | (52,895) | (559,204) |
Class C | ||||
Subscriptions | 29,784 | 314,905 | 39,046 | 405,324 |
Distributions reinvested | 1,161 | 12,322 | 3,446 | 36,217 |
Redemptions | (76,717) | (814,918) | (139,939) | (1,461,158) |
Net decrease | (45,772) | (487,691) | (97,447) | (1,019,617) |
Institutional Class | ||||
Subscriptions | 234,741 | 2,476,471 | 338,485 | 3,564,792 |
Distributions reinvested | 19,964 | 211,720 | 44,280 | 465,058 |
Redemptions | (162,210) | (1,713,700) | (290,871) | (3,041,926) |
Net increase | 92,495 | 974,491 | 91,894 | 987,924 |
Institutional 3 Class | ||||
Subscriptions | 2,473,224 | 26,299,003 | 3,716,277 | 39,209,742 |
Distributions reinvested | 2,756 | 29,324 | 7,323 | 77,188 |
Redemptions | (1,935,885) | (20,540,221) | (1,621,857) | (16,988,965) |
Net increase | 540,095 | 5,788,106 | 2,101,743 | 22,297,965 |
Total net increase | 637,424 | 6,814,960 | 2,121,915 | 22,545,674 |
Columbia North Carolina Intermediate Municipal Bond Fund | Semiannual Report 2020 | 17 |
Net asset value, beginning of period | Net investment income | Net realized and unrealized gain (loss) | Total from investment operations | Distributions from net investment income | Total distributions to shareholders | |
Class A | ||||||
Six Months Ended 10/31/2020 (Unaudited) | $10.27 | 0.09 | 0.32 | 0.41 | (0.09) | (0.09) |
Year Ended 4/30/2020 | $10.33 | 0.21 | (0.06) | 0.15 | (0.21) | (0.21) |
Year Ended 4/30/2019 | $10.14 | 0.24 | 0.19 | 0.43 | (0.24) | (0.24) |
Year Ended 4/30/2018 | $10.33 | 0.24 | (0.19) | 0.05 | (0.24) | (0.24) |
Year Ended 4/30/2017 | $10.70 | 0.25 | (0.37) | (0.12) | (0.25) | (0.25) |
Year Ended 4/30/2016 | $10.58 | 0.27 | 0.12 | 0.39 | (0.27) | (0.27) |
Advisor Class | ||||||
Six Months Ended 10/31/2020 (Unaudited) | $10.26 | 0.11 | 0.32 | 0.43 | (0.11) | (0.11) |
Year Ended 4/30/2020 | $10.32 | 0.24 | (0.06) | 0.18 | (0.24) | (0.24) |
Year Ended 4/30/2019 | $10.12 | 0.26 | 0.20 | 0.46 | (0.26) | (0.26) |
Year Ended 4/30/2018 | $10.32 | 0.27 | (0.20) | 0.07 | (0.27) | (0.27) |
Year Ended 4/30/2017 | $10.69 | 0.28 | (0.37) | (0.09) | (0.28) | (0.28) |
Year Ended 4/30/2016 | $10.57 | 0.30 | 0.12 | 0.42 | (0.30) | (0.30) |
Class C | ||||||
Six Months Ended 10/31/2020 (Unaudited) | $10.27 | 0.05 | 0.32 | 0.37 | (0.05) | (0.05) |
Year Ended 4/30/2020 | $10.33 | 0.13 | (0.06) | 0.07 | (0.13) | (0.13) |
Year Ended 4/30/2019 | $10.13 | 0.16 | 0.20 | 0.36 | (0.16) | (0.16) |
Year Ended 4/30/2018 | $10.33 | 0.16 | (0.20) | (0.04) | (0.16) | (0.16) |
Year Ended 4/30/2017 | $10.70 | 0.17 | (0.37) | (0.20) | (0.17) | (0.17) |
Year Ended 4/30/2016 | $10.58 | 0.19 | 0.12 | 0.31 | (0.19) | (0.19) |
Institutional Class | ||||||
Six Months Ended 10/31/2020 (Unaudited) | $10.26 | 0.11 | 0.32 | 0.43 | (0.11) | (0.11) |
Year Ended 4/30/2020 | $10.32 | 0.24 | (0.06) | 0.18 | (0.24) | (0.24) |
Year Ended 4/30/2019 | $10.13 | 0.26 | 0.19 | 0.45 | (0.26) | (0.26) |
Year Ended 4/30/2018 | $10.32 | 0.27 | (0.19) | 0.08 | (0.27) | (0.27) |
Year Ended 4/30/2017 | $10.69 | 0.28 | (0.37) | (0.09) | (0.28) | (0.28) |
Year Ended 4/30/2016 | $10.57 | 0.30 | 0.12 | 0.42 | (0.30) | (0.30) |
18 | Columbia North Carolina Intermediate Municipal Bond Fund | Semiannual Report 2020 |
Net asset value, end of period | Total return | Total gross expense ratio to average net assets(a) | Total net expense ratio to average net assets(a),(b) | Net investment income ratio to average net assets | Portfolio turnover | Net assets, end of period (000’s) | |
Class A | |||||||
Six Months Ended 10/31/2020 (Unaudited) | $10.59 | 4.03% | 0.87%(c) | 0.81%(c) | 1.75%(c) | 11% | $18,329 |
Year Ended 4/30/2020 | $10.27 | 1.43% | 0.85% | 0.81% | 2.01% | 7% | $17,176 |
Year Ended 4/30/2019 | $10.33 | 4.26% | 0.87%(d) | 0.81%(d) | 2.32% | 23% | $16,469 |
Year Ended 4/30/2018 | $10.14 | 0.48% | 0.88% | 0.81% | 2.33% | 10% | $18,035 |
Year Ended 4/30/2017 | $10.33 | (1.11%) | 0.96% | 0.81% | 2.39% | 12% | $18,246 |
Year Ended 4/30/2016 | $10.70 | 3.77% | 0.97% | 0.81% | 2.57% | 11% | $27,616 |
Advisor Class | |||||||
Six Months Ended 10/31/2020 (Unaudited) | $10.58 | 4.16% | 0.62%(c) | 0.56%(c) | 2.00%(c) | 11% | $5,000 |
Year Ended 4/30/2020 | $10.26 | 1.69% | 0.60% | 0.56% | 2.26% | 7% | $4,928 |
Year Ended 4/30/2019 | $10.32 | 4.62% | 0.62%(d) | 0.56%(d) | 2.57% | 23% | $5,505 |
Year Ended 4/30/2018 | $10.12 | 0.63% | 0.63% | 0.56% | 2.57% | 10% | $4,589 |
Year Ended 4/30/2017 | $10.32 | (0.86%) | 0.71% | 0.56% | 2.64% | 12% | $2,236 |
Year Ended 4/30/2016 | $10.69 | 4.03% | 0.72% | 0.56% | 2.83% | 11% | $3,458 |
Class C | |||||||
Six Months Ended 10/31/2020 (Unaudited) | $10.59 | 3.64% | 1.62%(c) | 1.55%(c) | 1.00%(c) | 11% | $2,682 |
Year Ended 4/30/2020 | $10.27 | 0.68% | 1.60% | 1.56% | 1.26% | 7% | $3,070 |
Year Ended 4/30/2019 | $10.33 | 3.58% | 1.62%(d) | 1.56%(d) | 1.57% | 23% | $4,096 |
Year Ended 4/30/2018 | $10.13 | (0.38%) | 1.63% | 1.56% | 1.58% | 10% | $5,338 |
Year Ended 4/30/2017 | $10.33 | (1.85%) | 1.71% | 1.56% | 1.65% | 12% | $6,682 |
Year Ended 4/30/2016 | $10.70 | 3.00% | 1.73% | 1.56% | 1.82% | 11% | $8,023 |
Institutional Class | |||||||
Six Months Ended 10/31/2020 (Unaudited) | $10.58 | 4.16% | 0.62%(c) | 0.56%(c) | 2.00%(c) | 11% | $25,418 |
Year Ended 4/30/2020 | $10.26 | 1.69% | 0.60% | 0.56% | 2.26% | 7% | $23,700 |
Year Ended 4/30/2019 | $10.32 | 4.52% | 0.62%(d) | 0.56%(d) | 2.57% | 23% | $22,897 |
Year Ended 4/30/2018 | $10.13 | 0.72% | 0.65% | 0.56% | 2.55% | 10% | $22,984 |
Year Ended 4/30/2017 | $10.32 | (0.86%) | 0.71% | 0.56% | 2.65% | 12% | $158,327 |
Year Ended 4/30/2016 | $10.69 | 4.03% | 0.73% | 0.56% | 2.82% | 11% | $191,661 |
Columbia North Carolina Intermediate Municipal Bond Fund | Semiannual Report 2020 | 19 |
Net asset value, beginning of period | Net investment income | Net realized and unrealized gain (loss) | Total from investment operations | Distributions from net investment income | Total distributions to shareholders | |
Institutional 3 Class | ||||||
Six Months Ended 10/31/2020 (Unaudited) | $10.29 | 0.11 | 0.32 | 0.43 | (0.11) | (0.11) |
Year Ended 4/30/2020 | $10.36 | 0.25 | (0.07) | 0.18 | (0.25) | (0.25) |
Year Ended 4/30/2019 | $10.16 | 0.27 | 0.20 | 0.47 | (0.27) | (0.27) |
Year Ended 4/30/2018 | $10.35 | 0.28 | (0.19) | 0.09 | (0.28) | (0.28) |
Year Ended 4/30/2017(e) | $10.28 | 0.05 | 0.07(f) | 0.12 | (0.05) | (0.05) |
Notes to Financial Highlights | |
(a) | In addition to the fees and expenses that the Fund bears directly, the Fund indirectly bears a pro rata share of the fees and expenses of any other funds in which it invests. Such indirect expenses are not included in the Fund’s reported expense ratios. |
(b) | Total net expenses include the impact of certain fee waivers/expense reimbursements made by the Investment Manager and certain of its affiliates, if applicable. |
(c) | Annualized. |
(d) | Ratios include line of credit interest expense which is less than 0.01%. |
(e) | Institutional 3 Class shares commenced operations on March 1, 2017. Per share data and total return reflect activity from that date. |
(f) | Calculation of the net gain (loss) per share (both realized and unrealized) does not correlate to the aggregate realized and unrealized gain (loss) presented in the Statement of Operations due to the timing of subscriptions and redemptions of Fund shares in relation to fluctuations in the market value of the portfolio. |
20 | Columbia North Carolina Intermediate Municipal Bond Fund | Semiannual Report 2020 |
Net asset value, end of period | Total return | Total gross expense ratio to average net assets(a) | Total net expense ratio to average net assets(a),(b) | Net investment income ratio to average net assets | Portfolio turnover | Net assets, end of period (000’s) | |
Institutional 3 Class | |||||||
Six Months Ended 10/31/2020 (Unaudited) | $10.61 | 4.20% | 0.54%(c) | 0.48%(c) | 2.08%(c) | 11% | $151,594 |
Year Ended 4/30/2020 | $10.29 | 1.67% | 0.52% | 0.48% | 2.34% | 7% | $141,450 |
Year Ended 4/30/2019 | $10.36 | 4.70% | 0.53%(d) | 0.48%(d) | 2.65% | 23% | $120,551 |
Year Ended 4/30/2018 | $10.16 | 0.83% | 0.54% | 0.48% | 2.68% | 10% | $117,741 |
Year Ended 4/30/2017(e) | $10.35 | 1.15% | 0.55%(c) | 0.42%(c) | 2.87%(c) | 12% | $10 |
Columbia North Carolina Intermediate Municipal Bond Fund | Semiannual Report 2020 | 21 |
October 31, 2020 (Unaudited)
22 | Columbia North Carolina Intermediate Municipal Bond Fund | Semiannual Report 2020 |
October 31, 2020 (Unaudited)
Columbia North Carolina Intermediate Municipal Bond Fund | Semiannual Report 2020 | 23 |
October 31, 2020 (Unaudited)
24 | Columbia North Carolina Intermediate Municipal Bond Fund | Semiannual Report 2020 |
October 31, 2020 (Unaudited)
Effective rate (%) | |
Class A | 0.09 |
Advisor Class | 0.09 |
Class C | 0.09 |
Institutional Class | 0.09 |
Institutional 3 Class | 0.01 |
Front End (%) | CDSC (%) | Amount ($) | |
Class A | 3.00 | 0.75(a) | 5,121 |
Class C | — | 1.00(b) | 7 |
(a) | This charge is imposed on certain investments of $500,000 or more if redeemed within 12 months after purchase. |
(b) | This charge applies to redemptions within 12 months after purchase, with certain limited exceptions. |
Columbia North Carolina Intermediate Municipal Bond Fund | Semiannual Report 2020 | 25 |
October 31, 2020 (Unaudited)
Fee rate(s) contractual through August 31, 2021 | |
Class A | 0.81% |
Advisor Class | 0.56 |
Class C | 1.56 |
Institutional Class | 0.56 |
Institutional 3 Class | 0.48 |
Federal tax cost ($) | Gross unrealized appreciation ($) | Gross unrealized (depreciation) ($) | Net unrealized appreciation ($) |
191,384,000 | 10,426,000 | (448,000) | 9,978,000 |
No expiration short-term ($) | No expiration long-term ($) | Total ($) |
(528,605) | (646,426) | (1,175,031) |
26 | Columbia North Carolina Intermediate Municipal Bond Fund | Semiannual Report 2020 |
October 31, 2020 (Unaudited)
Columbia North Carolina Intermediate Municipal Bond Fund | Semiannual Report 2020 | 27 |
October 31, 2020 (Unaudited)
28 | Columbia North Carolina Intermediate Municipal Bond Fund | Semiannual Report 2020 |
October 31, 2020 (Unaudited)
Columbia North Carolina Intermediate Municipal Bond Fund | Semiannual Report 2020 | 29 |
October 31, 2020 (Unaudited)
30 | Columbia North Carolina Intermediate Municipal Bond Fund | Semiannual Report 2020 |
Columbia North Carolina Intermediate Municipal Bond Fund | Semiannual Report 2020 | 31 |
The Board also discussed the acceptability of the terms of the Management Agreement (including the relatively broad scope of services required to be performed by Columbia Threadneedle), noting that no material changes are proposed from the form of agreement previously approved. They also noted the wide array of legal and compliance services provided to the Funds under the Management Agreement. It was observed that the services being performed under the Management Agreement were of a reasonable quality.
32 | Columbia North Carolina Intermediate Municipal Bond Fund | Semiannual Report 2020 |
Economies of scale to be realized
Columbia North Carolina Intermediate Municipal Bond Fund | Semiannual Report 2020 | 33 |
columbiathreadneedleus.com/investor/. The Fund is distributed by Columbia Management Investment Distributors, Inc., member FINRA, and managed by Columbia Management Investment Advisers, LLC.
Item 2. Code of Ethics.
Not applicable for semiannual reports.
Item 3. Audit Committee Financial Expert.
Not applicable for semiannual reports.
Item 4. Principal Accountant Fees and Services.
Not applicable for semiannual reports.
Item 5. Audit Committee of Listed Registrants.
Not applicable.
Item 6. Investments
(a)The registrant's "Schedule I – Investments in securities of unaffiliated issuers" (as set forth in 17 CFR 210.12-12) is included in Item 1 of this Form N-CSR.
(b)Not applicable.
Item 7. Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies.
Not applicable.
Item 8. Portfolio Managers of Closed-End Management Investment Companies.
Not applicable.
Item 9. Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers.
Not applicable.
Item 10. Submission of Matters to a Vote of Security Holders.
There were no material changes to the procedures by which shareholders may recommend nominees to the registrant's board of directors.
Item 11. Controls and Procedures.
(a)The registrant's principal executive officer and principal financial officer, based on their evaluation of the registrant's disclosure controls and procedures as of a
date within 90 days of the filing of this report, have concluded that such controls and procedures are adequately designed to ensure that information required to be disclosed by the registrant in Form N-CSR is accumulated and communicated to the registrant's management, including the principal executive officer and principal financial officer, or persons performing similar functions, as appropriate to allow timely decisions regarding required disclosure.
(b)There was no change in the registrant's internal control over financial reporting that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting.
Item 12. Disclosure of Securities Lending Activities for Closed-End Management Investment Companies
Not applicable.
Item 13. Exhibits.
(a)(1) Code of ethics required to be disclosed under Item 2 of Form N-CSR: Not applicable for semiannual reports.
(a)(3) Not applicable.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly
authorized. |
|
| ||
(registrant) |
| Columbia Funds Series Trust |
| |
By (Signature and Title) | /s/ Christopher O. Petersen | |||
|
|
| Christopher O. Petersen, President and Principal Executive Officer | |
Date |
| December 21,2020 |
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
By (Signature and Title) | /s/ Christopher O. Petersen | ||
|
| Christopher O. Petersen, President and Principal Executive Officer | |
Date |
| December 21,2020 |
|
By (Signature and Title) | /s/ Michael G. Clarke | ||
|
| Michael G. Clarke, Chief Financial Officer, Principal Financial Officer | |
|
| and Senior Vice President | |
Date |
| December 21,2020 |
|
By (Signature and Title) | /s/ Joseph Beranek | ||
|
| Joseph Beranek, Treasurer, Chief Accounting Officer and Principal | |
|
| Financial Officer | |
Date |
| December 21,2020 |
|