UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
FORM N-CSR
CERTIFIED SHAREHOLDER REPORT OF REGISTERED MANAGEMENT INVESTMENT COMPANIES
Investment Company Act file number811-21852
Columbia Funds Series Trust II
(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: February 28
Date of reporting period: February 28, 2021
Form N-CSR is to be used by management investment companies to file reports with the Commission not later than 10 days after the transmission to stockholders of any report that is required to be transmitted to stockholders under Rule 30e-1 under the Investment Company Act of 1940 (17 CFR 270.30e-1). The Commission may use the information provided on Form N-CSR in its regulatory, disclosure review, inspection, and policymaking roles.
A registrant is required to disclose the information specified by Form N-CSR, and the Commission will make this information public. A registrant is not required to respond to the collection of information contained in Form N-CSR unless the Form displays a currently valid Office of Management and Budget ("OMB") control number. Please direct comments concerning the accuracy of the information collection burden estimate and any suggestions for reducing the burden to Secretary, Securities and Exchange Commission, 100 F Street, NE, Washington, DC 20549. The OMB has reviewed this collection of information under the clearance requirements of 44 U.S.C. § 3507.
Item 1. Reports to Stockholders.
February 28, 2021
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44 |
Average annual total returns (%) (for the period ended February 28, 2021) | ||||
Inception | 1 Year | Life | ||
Class A | Excluding sales charges | 03/05/18 | 23.80 | 5.21 |
Including sales charges | 16.67 | 3.15 | ||
Advisor Class | 03/05/18 | 24.07 | 5.47 | |
Class C | Excluding sales charges | 03/05/18 | 22.80 | 4.43 |
Including sales charges | 21.80 | 4.43 | ||
Institutional Class | 03/05/18 | 23.93 | 5.47 | |
Institutional 2 Class | 03/05/18 | 24.16 | 5.56 | |
Institutional 3 Class | 03/05/18 | 24.34 | 5.65 | |
Class R | 03/05/18 | 23.43 | 4.93 | |
MSCI EAFE Index (Net) | 22.46 | 5.29 |
Columbia Overseas Core Fund | Annual Report 2021 | 3 |
Equity sector breakdown (%) (at February 28, 2021) | |
Communication Services | 7.9 |
Consumer Discretionary | 7.9 |
Consumer Staples | 10.9 |
Energy | 6.7 |
Financials | 13.4 |
Health Care | 12.7 |
Industrials | 16.9 |
Information Technology | 12.6 |
Materials | 6.8 |
Real Estate | 3.5 |
Utilities | 0.7 |
Total | 100.0 |
Country breakdown (%) (at February 28, 2021) | |
Australia | 1.2 |
Canada | 4.3 |
Chile | 0.2 |
China | 1.5 |
Denmark | 0.7 |
Finland | 2.5 |
France | 6.9 |
Germany | 4.4 |
Hong Kong | 0.9 |
Ireland | 1.0 |
Israel | 1.6 |
Country breakdown (%) (at February 28, 2021) | |
Italy | 1.7 |
Japan | 26.9 |
Netherlands | 6.0 |
Norway | 2.8 |
Pakistan | 0.5 |
Russian Federation | 1.0 |
Singapore | 1.9 |
South Korea | 3.1 |
Spain | 2.3 |
Sweden | 2.9 |
Switzerland | 3.7 |
Taiwan | 3.6 |
United Kingdom | 13.3 |
United States(a) | 5.1 |
Total | 100.0 |
(a) | Includes investments in Money Market Funds and Exchange-Traded Funds. |
4 | Columbia Overseas Core Fund | Annual Report 2021 |
• | Strong broad-based stock selection, especially in Japan and in the industrials, energy, communication services and both consumer sectors, helped the Fund outperform its benchmark. |
• | Tokyo-based IT consultant BayCurrent Consulting, Inc., which is tied to key long-term digital investment themes, rose on expectations for strong sales and earnings growth. |
• | Chinese Internet giant Tencent Holdings Ltd., which has a unique ability to maintain competitive advantages over its competitors. and monetization potential that could drive sustained cash flow and earnings growth. |
• | Japanese M&A consultant Nihon M&A Center, Inc., which continually has generated strong earnings growth amid increasing merger deals in key target markets. |
• | Sector allocation offset the Fund’s strong stock selection to a modest degree, as did the Fund’s position in cash. |
• | Stock selection within the information technology and financials sector also weighed on Fund results, relative to the benchmark. |
• | Aroundtown SA (Germany), a real estate company that invests in properties primarily in Germany and the Netherlands, declined after reporting forward guidance that was lower than expected due to uncertainty around their hotel business line due to COVID-19. |
• | ASML Holding, a semiconductor company based in the Netherlands, was a relative detractor. The stock, which is a notable holding in the benchmark, was up substantially after reporting strong quarterly results and increasing demand expectations and the Fund’s relative underweight during the period hampered relative results. |
• | Tecnicas Reunidas, a Spanish-based contractor providing engineering and construction services primarily for the oil and gas industries, was hit hard by the pandemic-induced environment and the overall underperformance of the energy industry. |
Columbia Overseas Core Fund | Annual Report 2021 | 5 |
6 | Columbia Overseas Core Fund | Annual Report 2021 |
(Unaudited)
September 1, 2020 — February 28, 2021 | |||||||
Account value at the beginning of the period ($) | Account value at the end of the period ($) | Expenses paid during the period ($) | Fund’s annualized expense ratio (%) | ||||
Actual | Hypothetical | Actual | Hypothetical | Actual | Hypothetical | Actual | |
Class A | 1,000.00 | 1,000.00 | 1,155.90 | 1,018.49 | 6.50 | 6.09 | 1.23 |
Advisor Class | 1,000.00 | 1,000.00 | 1,157.10 | 1,019.71 | 5.18 | 4.85 | 0.98 |
Class C | 1,000.00 | 1,000.00 | 1,151.40 | 1,014.81 | 10.45 | 9.78 | 1.98 |
Institutional Class | 1,000.00 | 1,000.00 | 1,155.90 | 1,019.76 | 5.13 | 4.80 | 0.97 |
Institutional 2 Class | 1,000.00 | 1,000.00 | 1,156.80 | 1,020.11 | 4.76 | 4.46 | 0.90 |
Institutional 3 Class | 1,000.00 | 1,000.00 | 1,158.50 | 1,020.40 | 4.45 | 4.16 | 0.84 |
Class R | 1,000.00 | 1,000.00 | 1,154.80 | 1,017.31 | 7.77 | 7.27 | 1.47 |
Columbia Overseas Core Fund | Annual Report 2021 | 7 |
(Unaudited)
8 | Columbia Overseas Core Fund | Annual Report 2021 |
February 28, 2021
Common Stocks 98.2% | ||
Issuer | Shares | Value ($) |
Australia 1.2% | ||
Ansell Ltd. | 350,042 | 9,728,127 |
Canada 4.3% | ||
Alimentation Couche-Tard, Inc., Class B | 536,594 | 16,128,179 |
Cameco Corp. | 702,526 | 11,001,557 |
Yamana Gold, Inc. | 2,189,907 | 8,781,527 |
Total | 35,911,263 | |
Chile 0.2% | ||
Lundin Mining Corp. | 151,222 | 1,731,341 |
China 1.5% | ||
Tencent Holdings Ltd. | 142,900 | 12,431,873 |
Denmark 0.7% | ||
Novo Nordisk A/S, Class B | 79,459 | 5,668,374 |
Finland 2.5% | ||
UPM-Kymmene OYJ | 395,939 | 15,126,693 |
Valmet OYJ | 164,025 | 5,519,845 |
Total | 20,646,538 | |
France 6.9% | ||
AtoS(a) | 86,652 | 6,772,673 |
AXA SA | 165,323 | 4,157,586 |
Capgemini SE | 111,226 | 17,862,908 |
DBV Technologies SA, ADR(a) | 152,611 | 816,469 |
Eiffage SA(a) | 105,654 | 10,859,648 |
Sanofi | 82,258 | 7,548,879 |
Total SE | 198,208 | 9,242,468 |
Total | 57,260,631 | |
Germany 4.4% | ||
Aroundtown SA | 1,163,811 | 8,462,717 |
Bayer AG, Registered Shares | 96,183 | 5,842,271 |
Covestro AG | 148,307 | 10,738,326 |
Duerr AG | 157,954 | 6,227,169 |
KION Group AG | 62,839 | 5,309,640 |
Total | 36,580,123 | |
Hong Kong 0.8% | ||
WH Group Ltd. | 7,930,500 | 7,112,945 |
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Ireland 1.0% | ||
Amarin Corp. PLC, ADR(a) | 103,228 | 695,757 |
Flutter Entertainment PLC(a) | 38,972 | 7,534,065 |
Total | 8,229,822 | |
Israel 1.6% | ||
Bank Hapoalim BM(a) | 939,227 | 6,617,256 |
Bezeq Israeli Telecommunication Corp., Ltd.(a) | 2,209,758 | 2,161,021 |
Check Point Software Technologies Ltd.(a) | 42,853 | 4,724,115 |
Total | 13,502,392 | |
Italy 1.7% | ||
Intesa Sanpaolo SpA(a) | 1,600,079 | 4,113,855 |
Recordati Industria Chimica e Farmaceutica SpA | 198,826 | 10,106,724 |
Total | 14,220,579 | |
Japan 26.8% | ||
Amano Corp. | 340,600 | 7,678,298 |
BayCurrent Consulting, Inc. | 61,700 | 12,480,967 |
COMSYS Holdings Corp. | 400,100 | 12,118,230 |
Fujitsu Ltd. | 40,400 | 5,861,167 |
Invincible Investment Corp. | 16,274 | 6,670,069 |
ITOCHU Corp. | 585,000 | 17,472,791 |
JustSystems Corp. | 85,600 | 5,006,758 |
Kinden Corp. | 307,300 | 5,035,947 |
Koito Manufacturing Co., Ltd. | 174,200 | 11,703,830 |
Matsumotokiyoshi Holdings Co., Ltd. | 316,000 | 12,454,375 |
Meitec Corp. | 86,000 | 4,496,805 |
Nihon M&A Center, Inc. | 146,900 | 8,017,108 |
Nippon Telegraph & Telephone Corp. | 310,400 | 8,040,931 |
ORIX Corp. | 703,400 | 12,001,919 |
Round One Corp. | 602,100 | 6,608,294 |
Shionogi & Co., Ltd. | 163,000 | 8,328,696 |
Ship Healthcare Holdings, Inc. | 203,100 | 11,271,466 |
SoftBank Group Corp. | 58,400 | 5,450,443 |
Sony Corp. | 172,300 | 18,195,084 |
Subaru Corp. | 295,200 | 5,564,770 |
Sumitomo Mitsui Financial Group, Inc. | 213,000 | 7,520,054 |
Takeda Pharmaceutical Co., Ltd. | 432,777 | 14,584,075 |
Columbia Overseas Core Fund | Annual Report 2021 | 9 |
February 28, 2021
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Takuma Co., Ltd. | 350,800 | 6,900,745 |
Uchida Yoko Co., Ltd. | 95,400 | 4,044,797 |
ValueCommerce Co., Ltd. | 201,000 | 5,494,580 |
Total | 223,002,199 | |
Netherlands 5.9% | ||
ABN AMRO Bank NV(a) | 587,099 | 6,750,760 |
ASR Nederland NV | 283,754 | 11,855,367 |
ING Groep NV | 921,733 | 10,095,481 |
Koninklijke Ahold Delhaize NV | 387,105 | 10,221,413 |
Signify NV(a) | 242,354 | 10,560,535 |
Total | 49,483,556 | |
Norway 2.8% | ||
SalMar ASA | 177,400 | 11,634,737 |
Yara International ASA | 237,968 | 11,432,610 |
Total | 23,067,347 | |
Pakistan 0.5% | ||
Lucky Cement Ltd.(a) | 506,247 | 2,832,966 |
Oil & Gas Development Co., Ltd. | 1,865,152 | 1,234,494 |
Total | 4,067,460 | |
Russian Federation 1.0% | ||
Sberbank of Russia PJSC, ADR | 575,322 | 8,372,052 |
Singapore 1.9% | ||
BW LPG Ltd. | 653,034 | 3,877,295 |
Venture Corp., Ltd. | 844,500 | 12,050,929 |
Total | 15,928,224 | |
South Korea 3.1% | ||
Hyundai Home Shopping Network Corp. | 60,520 | 4,271,953 |
Samsung Electronics Co., Ltd. | 201,065 | 14,735,184 |
Youngone Corp.(a) | 185,882 | 6,927,859 |
Total | 25,934,996 | |
Spain 2.2% | ||
ACS Actividades de Construccion y Servicios SA | 309,225 | 9,448,192 |
Endesa SA | 246,358 | 6,087,588 |
Tecnicas Reunidas SA(a) | 218,080 | 3,172,245 |
Total | 18,708,025 |
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Sweden 2.9% | ||
Granges AB(a) | 382,880 | 4,854,796 |
Samhallsbyggnadsbolaget i Norden AB | 4,311,263 | 13,459,016 |
Sandvik AB(a) | 221,480 | 5,948,028 |
Total | 24,261,840 | |
Switzerland 3.7% | ||
Landis+Gyr Group AG(a) | 88,847 | 6,162,217 |
Nestlé SA, Registered Shares | 72,117 | 7,526,756 |
Roche Holding AG, Genusschein Shares | 51,448 | 16,877,980 |
Total | 30,566,953 | |
Taiwan 3.5% | ||
Fubon Financial Holding Co., Ltd. | 6,782,000 | 12,145,580 |
Parade Technologies Ltd. | 177,000 | 7,526,905 |
Tripod Technology Corp. | 2,006,000 | 9,971,028 |
Total | 29,643,513 | |
United Kingdom 13.2% | ||
BP PLC | 1,440,790 | 5,900,795 |
British American Tobacco PLC | 395,094 | 13,719,711 |
BT Group PLC(a) | 2,826,139 | 4,891,821 |
Crest Nicholson Holdings PLC(a) | 861,162 | 3,857,603 |
DCC PLC | 167,866 | 13,560,049 |
GW Pharmaceuticals PLC, ADR(a) | 3,400 | 728,450 |
John Wood Group PLC(a) | 920,695 | 3,870,354 |
Just Group PLC(a) | 5,630,567 | 7,090,963 |
Liberty Global PLC, Class C(a) | 478,403 | 11,625,193 |
Royal Dutch Shell PLC, Class B | 835,702 | 16,382,547 |
TP Icap Group PLC | 4,013,961 | 13,421,402 |
Vodafone Group PLC | 5,785,247 | 9,903,435 |
WPP PLC | 396,049 | 4,736,526 |
Total | 109,688,849 | |
United States 3.9% | ||
ACADIA Pharmaceuticals, Inc.(a) | 24,471 | 1,198,345 |
Aerie Pharmaceuticals, Inc.(a) | 107,138 | 1,970,268 |
Alexion Pharmaceuticals, Inc.(a) | 20,356 | 3,109,379 |
Broadcom, Inc. | 9,547 | 4,485,849 |
Burford Capital Ltd.(a) | 682,008 | 5,837,988 |
Insmed, Inc.(a) | 50,309 | 1,799,553 |
Primo Water Corp. | 701,133 | 10,019,191 |
10 | Columbia Overseas Core Fund | Annual Report 2021 |
February 28, 2021
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Quotient Ltd.(a) | 311,284 | 1,397,665 |
Sage Therapeutics, Inc.(a) | 29,491 | 2,506,735 |
Total | 32,324,973 | |
Total Common Stocks (Cost $710,359,751) | 818,073,995 | |
Exchange-Traded Equity Funds 1.1% | ||
Shares | Value ($) | |
United States 1.1% | ||
iShares MSCI EAFE ETF | 120,484 | 8,917,021 |
Total Exchange-Traded Equity Funds (Cost $8,555,663) | 8,917,021 | |
Money Market Funds 0.1% | ||
Shares | Value ($) | |
Columbia Short-Term Cash Fund, 0.086%(b),(c) | 1,195,628 | 1,195,509 |
Total Money Market Funds (Cost $1,195,509) | 1,195,509 | |
Total Investments in Securities (Cost $720,110,923) | 828,186,525 | |
Other Assets & Liabilities, Net | 4,982,190 | |
Net Assets | $833,168,715 |
Forward foreign currency exchange contracts | |||||
Currency to be sold | Currency to be purchased | Counterparty | Settlement date | Unrealized appreciation ($) | Unrealized depreciation ($) |
16,014,000 CAD | 12,515,450 USD | Morgan Stanley | 03/25/2021 | — | (69,071) |
3,636,000 GBP | 4,960,738 USD | Morgan Stanley | 03/25/2021 | — | (105,803) |
3,039,404,000 JPY | 29,158,493 USD | Morgan Stanley | 03/25/2021 | 636,859 | — |
27,767,724,000 KRW | 24,909,887 USD | Morgan Stanley | 03/25/2021 | 257,535 | — |
72,298,000 NOK | 8,403,498 USD | Morgan Stanley | 03/25/2021 | 65,250 | — |
465,068,000 TWD | 16,678,848 USD | Morgan Stanley | 03/25/2021 | — | (48,628) |
20,870,481 USD | 27,200,000 AUD | Morgan Stanley | 03/25/2021 | 60,849 | — |
12,694,468 USD | 11,301,000 CHF | Morgan Stanley | 03/25/2021 | — | (261,576) |
4,195,776 USD | 25,682,000 DKK | Morgan Stanley | 03/25/2021 | — | (27,131) |
37,764,713 USD | 31,072,000 EUR | Morgan Stanley | 03/25/2021 | — | (250,963) |
4,196,698 USD | 34,935,000 SEK | Morgan Stanley | 03/25/2021 | — | (58,095) |
Total | 1,020,493 | (821,267) |
(a) | Non-income producing investment. |
(b) | The rate shown is the seven-day current annualized yield at February 28, 2021. |
(c) | As defined in the Investment Company Act of 1940, as amended, an affiliated company is one in which the Fund owns 5% or more of the company’s outstanding voting securities, or a company which is under common ownership or control with the Fund. The value of the holdings and transactions in these affiliated companies during the year ended February 28, 2021 are as follows: |
Affiliated issuers | Beginning of period($) | Purchases($) | Sales($) | Net change in unrealized appreciation (depreciation)($) | End of period($) | Realized gain (loss)($) | Dividends($) | End of period shares |
Columbia Short-Term Cash Fund, 0.086% | ||||||||
1,359,749 | 325,658,368 | (325,822,547) | (61) | 1,195,509 | (5) | 10,438 | 1,195,628 |
ADR | American Depositary Receipt |
Columbia Overseas Core Fund | Annual Report 2021 | 11 |
February 28, 2021
AUD | Australian Dollar |
CAD | Canada Dollar |
CHF | Swiss Franc |
DKK | Danish Krone |
EUR | Euro |
GBP | British Pound |
JPY | Japanese Yen |
KRW | South Korean Won |
NOK | Norwegian Krone |
SEK | Swedish Krona |
TWD | New Taiwan Dollar |
USD | US Dollar |
■ | Level 1 — Valuations based on quoted prices for investments in active markets that the Fund has the ability to access at the measurement date. Valuation adjustments are not applied to Level 1 investments. |
■ | Level 2 — Valuations based on other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risks, etc.). |
■ | Level 3 — Valuations based on significant unobservable inputs (including the Fund’s own assumptions and judgment in determining the fair value of investments). |
12 | Columbia Overseas Core Fund | Annual Report 2021 |
February 28, 2021
The following table is a summary of the inputs used to value the Fund’s investments at February 28, 2021:
Level 1 ($) | Level 2 ($) | Level 3 ($) | Total ($) | |
Investments in Securities | ||||
Common Stocks | ||||
Australia | — | 9,728,127 | — | 9,728,127 |
Canada | 35,911,263 | — | — | 35,911,263 |
Chile | 1,731,341 | — | — | 1,731,341 |
China | — | 12,431,873 | — | 12,431,873 |
Denmark | — | 5,668,374 | — | 5,668,374 |
Finland | — | 20,646,538 | — | 20,646,538 |
France | 816,469 | 56,444,162 | — | 57,260,631 |
Germany | — | 36,580,123 | — | 36,580,123 |
Hong Kong | — | 7,112,945 | — | 7,112,945 |
Ireland | 695,757 | 7,534,065 | — | 8,229,822 |
Israel | 4,724,115 | 8,778,277 | — | 13,502,392 |
Italy | — | 14,220,579 | — | 14,220,579 |
Japan | — | 223,002,199 | — | 223,002,199 |
Netherlands | — | 49,483,556 | — | 49,483,556 |
Norway | — | 23,067,347 | — | 23,067,347 |
Pakistan | — | 4,067,460 | — | 4,067,460 |
Russian Federation | — | 8,372,052 | — | 8,372,052 |
Singapore | — | 15,928,224 | — | 15,928,224 |
South Korea | — | 25,934,996 | — | 25,934,996 |
Spain | — | 18,708,025 | — | 18,708,025 |
Sweden | — | 24,261,840 | — | 24,261,840 |
Switzerland | — | 30,566,953 | — | 30,566,953 |
Taiwan | — | 29,643,513 | — | 29,643,513 |
United Kingdom | 12,353,643 | 97,335,206 | — | 109,688,849 |
United States | 32,324,973 | — | — | 32,324,973 |
Total Common Stocks | 88,557,561 | 729,516,434 | — | 818,073,995 |
Exchange-Traded Equity Funds | 8,917,021 | — | — | 8,917,021 |
Money Market Funds | 1,195,509 | — | — | 1,195,509 |
Total Investments in Securities | 98,670,091 | 729,516,434 | — | 828,186,525 |
Investments in Derivatives | ||||
Asset | ||||
Forward Foreign Currency Exchange Contracts | — | 1,020,493 | — | 1,020,493 |
Liability | ||||
Forward Foreign Currency Exchange Contracts | — | (821,267) | — | (821,267) |
Total | 98,670,091 | 729,715,660 | — | 828,385,751 |
Columbia Overseas Core Fund | Annual Report 2021 | 13 |
February 28, 2021
Assets | |
Investments in securities, at value | |
Unaffiliated issuers (cost $718,915,414) | $826,991,016 |
Affiliated issuers (cost $1,195,509) | 1,195,509 |
Cash collateral held at broker for: | |
Forward foreign currency exchange contracts | 195,000 |
Unrealized appreciation on forward foreign currency exchange contracts | 1,020,493 |
Receivable for: | |
Investments sold | 7,429,605 |
Capital shares sold | 107,327 |
Dividends | 861,927 |
Foreign tax reclaims | 1,647,211 |
Expense reimbursement due from Investment Manager | 5,357 |
Prepaid expenses | 18,097 |
Total assets | 839,471,542 |
Liabilities | |
Due to custodian | 422 |
Unrealized depreciation on forward foreign currency exchange contracts | 821,267 |
Payable for: | |
Investments purchased | 4,947,141 |
Capital shares purchased | 297,110 |
Foreign capital gains taxes deferred | 69,624 |
Management services fees | 19,546 |
Distribution and/or service fees | 505 |
Transfer agent fees | 28,565 |
Compensation of board members | 69,102 |
Compensation of chief compliance officer | 6 |
Other expenses | 49,539 |
Total liabilities | 6,302,827 |
Net assets applicable to outstanding capital stock | $833,168,715 |
Represented by | |
Paid in capital | 710,814,477 |
Total distributable earnings (loss) | 122,354,238 |
Total - representing net assets applicable to outstanding capital stock | $833,168,715 |
14 | Columbia Overseas Core Fund | Annual Report 2021 |
February 28, 2021
Class A | |
Net assets | $57,242,962 |
Shares outstanding | 5,258,586 |
Net asset value per share | $10.89 |
Maximum sales charge | 5.75% |
Maximum offering price per share (calculated by dividing the net asset value per share by 1.0 minus the maximum sales charge for Class A shares) | $11.55 |
Advisor Class | |
Net assets | $367,680 |
Shares outstanding | 33,772 |
Net asset value per share | $10.89 |
Class C | |
Net assets | $3,863,128 |
Shares outstanding | 355,809 |
Net asset value per share | $10.86 |
Institutional Class | |
Net assets | $215,765,191 |
Shares outstanding | 19,807,275 |
Net asset value per share | $10.89 |
Institutional 2 Class | |
Net assets | $439,284 |
Shares outstanding | 40,291 |
Net asset value per share | $10.90 |
Institutional 3 Class | |
Net assets | $555,487,044 |
Shares outstanding | 50,937,673 |
Net asset value per share | $10.91 |
Class R | |
Net assets | $3,426 |
Shares outstanding | 315 |
Net asset value per share | $10.88 |
Columbia Overseas Core Fund | Annual Report 2021 | 15 |
Year Ended February 28, 2021
Net investment income | |
Income: | |
Dividends — unaffiliated issuers | $12,582,289 |
Dividends — affiliated issuers | 10,438 |
Foreign taxes withheld | (1,206,633) |
Total income | 11,386,094 |
Expenses: | |
Management services fees | 4,529,021 |
Distribution and/or service fees | |
Class A | 83,609 |
Class C | 27,609 |
Class R | 23 |
Transfer agent fees | |
Class A | 53,986 |
Advisor Class | 372 |
Class C | 4,490 |
Institutional Class | 279,876 |
Institutional 2 Class | 191 |
Institutional 3 Class | 22,301 |
Class R | 7 |
Compensation of board members | 29,209 |
Custodian fees | 113,828 |
Printing and postage fees | 28,155 |
Registration fees | 104,524 |
Audit fees | 89,872 |
Legal fees | 13,010 |
Interest on collateral | 15 |
Interest on interfund lending | 106 |
Compensation of chief compliance officer | 158 |
Other | 46,148 |
Total expenses | 5,426,510 |
Fees waived or expenses reimbursed by Investment Manager and its affiliates | (535,040) |
Expense reduction | (20) |
Total net expenses | 4,891,450 |
Net investment income | 6,494,644 |
Realized and unrealized gain (loss) — net | |
Net realized gain (loss) on: | |
Investments — unaffiliated issuers | 37,652,326 |
Investments — affiliated issuers | (5) |
Foreign currency translations | 65,591 |
Forward foreign currency exchange contracts | 790,842 |
Futures contracts | 826,657 |
Options purchased | (419,910) |
Options contracts written | 256,886 |
Net realized gain | 39,172,387 |
Net change in unrealized appreciation (depreciation) on: | |
Investments — unaffiliated issuers | 99,235,129 |
Investments — affiliated issuers | (61) |
Foreign currency translations | 81,605 |
Forward foreign currency exchange contracts | 214,492 |
Options purchased | (12,880) |
Foreign capital gains tax | (69,602) |
Net change in unrealized appreciation (depreciation) | 99,448,683 |
Net realized and unrealized gain | 138,621,070 |
Net increase in net assets resulting from operations | $145,115,714 |
16 | Columbia Overseas Core Fund | Annual Report 2021 |
Year Ended February 28, 2021 | Year Ended February 29, 2020 | |
Operations | ||
Net investment income | $6,494,644 | $5,260,684 |
Net realized gain | 39,172,387 | 1,715,833 |
Net change in unrealized appreciation (depreciation) | 99,448,683 | (8,911,186) |
Net increase (decrease) in net assets resulting from operations | 145,115,714 | (1,934,669) |
Distributions to shareholders | ||
Net investment income and net realized gains | ||
Class A | (697,347) | (8,169) |
Advisor Class | (5,801) | (802) |
Class C | (37,622) | (1,438) |
Institutional Class | (4,300,620) | (4,713,135) |
Institutional 2 Class | (6,908) | (1,371) |
Institutional 3 Class | (9,471,803) | (5,213,154) |
Class R | (61) | (921) |
Total distributions to shareholders | (14,520,162) | (9,938,990) |
Increase in net assets from capital stock activity | 450,615,065 | 11,361,876 |
Total increase (decrease) in net assets | 581,210,617 | (511,783) |
Net assets at beginning of year | 251,958,098 | 252,469,881 |
Net assets at end of year | $833,168,715 | $251,958,098 |
Columbia Overseas Core Fund | Annual Report 2021 | 17 |
Year Ended | Year Ended | |||
February 28, 2021 | February 29, 2020 | |||
Shares | Dollars ($) | Shares | Dollars ($) | |
Capital stock activity | ||||
Class A | ||||
Subscriptions | 505,135 | 4,907,931 | 46,367 | 449,570 |
Fund reorganization | 5,244,267 | 47,565,500 | — | — |
Distributions reinvested | 65,281 | 686,492 | 754 | 7,425 |
Redemptions | (604,032) | (5,913,193) | (2,351) | (22,998) |
Net increase | 5,210,651 | 47,246,730 | 44,770 | 433,997 |
Advisor Class | ||||
Subscriptions | 3,039 | 31,774 | — | — |
Fund reorganization | 34,231 | 310,850 | — | — |
Distributions reinvested | 503 | 5,298 | — | — |
Redemptions | (6,101) | (62,449) | — | — |
Net increase | 31,672 | 285,473 | — | — |
Class C | ||||
Subscriptions | 24,239 | 223,265 | 2,873 | 27,355 |
Fund reorganization | 496,686 | 4,494,950 | — | — |
Distributions reinvested | 3,412 | 35,812 | 88 | 867 |
Redemptions | (173,937) | (1,746,044) | (254) | (2,576) |
Net increase | 350,400 | 3,007,983 | 2,707 | 25,646 |
Institutional Class | ||||
Subscriptions | 3,830,505 | 34,744,213 | 3,139,314 | 30,832,468 |
Fund reorganization | 3,249,695 | 29,507,828 | — | — |
Distributions reinvested | 428,747 | 4,299,225 | 480,911 | 4,712,334 |
Redemptions | (2,362,212) | (22,189,481) | (1,778,427) | (16,783,887) |
Net increase | 5,146,735 | 46,361,785 | 1,841,798 | 18,760,915 |
Institutional 2 Class | ||||
Subscriptions | 1,125 | 9,048 | 1,980 | 19,086 |
Fund reorganization | 38,520 | 350,148 | — | — |
Distributions reinvested | 652 | 6,829 | 56 | 544 |
Redemptions | (5,176) | (45,621) | — | — |
Net increase | 35,121 | 320,404 | 2,036 | 19,630 |
Institutional 3 Class | ||||
Subscriptions | 23,898,660 | 232,633,202 | 166,178 | 1,636,484 |
Fund reorganization | 18,411,922 | 167,546,823 | — | — |
Distributions reinvested | 914,091 | 9,463,373 | 531,920 | 5,212,314 |
Redemptions | (5,559,827) | (56,236,531) | (1,515,862) | (14,678,764) |
Net increase (decrease) | 37,664,846 | 353,406,867 | (817,764) | (7,829,966) |
Class R | ||||
Subscriptions | 315 | 2,500 | 860 | 8,017 |
Distributions reinvested | — | — | 25 | 234 |
Redemptions | (2,100) | (16,677) | (5,643) | (56,597) |
Net decrease | (1,785) | (14,177) | (4,758) | (48,346) |
Total net increase | 48,437,640 | 450,615,065 | 1,068,789 | 11,361,876 |
18 | Columbia Overseas Core Fund | Annual Report 2021 |
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 | Distributions from net realized gains | Total distributions to shareholders | |
Class A | |||||||
Year Ended 2/28/2021 | $8.99 | 0.06 | 2.06 | 2.12 | (0.05) | (0.17) | (0.22) |
Year Ended 2/29/2020 | $9.36 | 0.09 | (0.11) | (0.02) | (0.31) | (0.04) | (0.35) |
Year Ended 2/28/2019(f) | $10.00 | 0.25 | (0.81) | (0.56) | (0.08) | — | (0.08) |
Advisor Class | |||||||
Year Ended 2/28/2021 | $8.99 | 0.09 | 2.05 | 2.14 | (0.07) | (0.17) | (0.24) |
Year Ended 2/29/2020 | $9.37 | 0.19 | (0.19) | 0.00 | (0.34) | (0.04) | (0.38) |
Year Ended 2/28/2019(f) | $10.00 | 0.28 | (0.81) | (0.53) | (0.10) | — | (0.10) |
Class C | |||||||
Year Ended 2/28/2021 | $9.00 | (0.01) | 2.04 | 2.03 | — | (0.17) | (0.17) |
Year Ended 2/29/2020 | $9.36 | 0.06 | (0.15) | (0.09) | (0.23) | (0.04) | (0.27) |
Year Ended 2/28/2019(f) | $10.00 | 0.18 | (0.80) | (0.62) | (0.02) | — | (0.02) |
Institutional Class | |||||||
Year Ended 2/28/2021 | $9.00 | 0.13 | 2.00 | 2.13 | (0.07) | (0.17) | (0.24) |
Year Ended 2/29/2020 | $9.37 | 0.19 | (0.18) | 0.01 | (0.34) | (0.04) | (0.38) |
Year Ended 2/28/2019(f) | $10.00 | 0.38 | (0.91) | (0.53) | (0.10) | — | (0.10) |
Institutional 2 Class | |||||||
Year Ended 2/28/2021 | $9.00 | 0.10 | 2.05 | 2.15 | (0.08) | (0.17) | (0.25) |
Year Ended 2/29/2020 | $9.38 | 0.19 | (0.18) | 0.01 | (0.35) | (0.04) | (0.39) |
Year Ended 2/28/2019(f) | $10.00 | 0.28 | (0.81) | (0.53) | (0.09) | — | (0.09) |
Institutional 3 Class | |||||||
Year Ended 2/28/2021 | $9.00 | 0.12 | 2.05 | 2.17 | (0.09) | (0.17) | (0.26) |
Year Ended 2/29/2020 | $9.38 | 0.21 | (0.19) | 0.02 | (0.36) | (0.04) | (0.40) |
Year Ended 2/28/2019(f) | $10.00 | 0.29 | (0.81) | (0.52) | (0.10) | — | (0.10) |
Class R | |||||||
Year Ended 2/28/2021 | $8.99 | 0.20 | 1.88 | 2.08 | (0.02) | (0.17) | (0.19) |
Year Ended 2/29/2020 | $9.36 | 0.18 | (0.22) | (0.04) | (0.29) | (0.04) | (0.33) |
Year Ended 2/28/2019(f) | $10.00 | 0.26 | (0.84) | (0.58) | (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) | Ratios include interest on collateral expense which is less than 0.01%. |
(d) | Ratios include interfund lending expense which is less than 0.01%. |
(e) | The benefits derived from expense reductions had an impact of less than 0.01%. |
(f) | The Fund commenced operations on March 5, 2018. Per share data and total return reflect activity from that date. |
(g) | Annualized. |
20 | Columbia Overseas Core Fund | Annual Report 2021 |
Net asset value, end of period | Total return | Total gross expense ratio to average net assets(a) | Total net expense ratio to average net assets(a),(b) | Net investment income (loss) ratio to average net assets | Portfolio turnover | Net assets, end of period (000’s) | |
Class A | |||||||
Year Ended 2/28/2021 | $10.89 | 23.80% | 1.33%(c),(d) | 1.24%(c),(d),(e) | 0.59% | 39% | $57,243 |
Year Ended 2/29/2020 | $8.99 | (0.46%) | 1.40% | 1.26% | 0.94% | 48% | $431 |
Year Ended 2/28/2019(f) | $9.36 | (5.55%) | 1.65%(d),(g) | 1.28%(d),(g) | 2.64%(g) | 71% | $30 |
Advisor Class | |||||||
Year Ended 2/28/2021 | $10.89 | 24.07% | 1.08%(c),(d) | 0.99%(c),(d),(e) | 0.91% | 39% | $368 |
Year Ended 2/29/2020 | $8.99 | (0.30%) | 1.15% | 1.01% | 1.98% | 48% | $19 |
Year Ended 2/28/2019(f) | $9.37 | (5.22%) | 1.40%(d),(g) | 1.03%(d),(g) | 2.95%(g) | 71% | $20 |
Class C | |||||||
Year Ended 2/28/2021 | $10.86 | 22.80% | 2.07%(c),(d) | 1.99%(c),(d),(e) | (0.14%) | 39% | $3,863 |
Year Ended 2/29/2020 | $9.00 | (1.17%) | 2.15% | 2.01% | 0.63% | 48% | $49 |
Year Ended 2/28/2019(f) | $9.36 | (6.22%) | 2.40%(d),(g) | 2.03%(d),(g) | 1.89%(g) | 71% | $25 |
Institutional Class | |||||||
Year Ended 2/28/2021 | $10.89 | 23.93% | 1.10%(c),(d) | 1.00%(c),(d),(e) | 1.40% | 39% | $215,765 |
Year Ended 2/29/2020 | $9.00 | (0.19%) | 1.15% | 1.02% | 1.98% | 48% | $131,881 |
Year Ended 2/28/2019(f) | $9.37 | (5.22%) | 1.37%(d),(g) | 1.03%(d),(g) | 4.47%(g) | 71% | $120,114 |
Institutional 2 Class | |||||||
Year Ended 2/28/2021 | $10.90 | 24.16% | 0.99%(c),(d) | 0.90%(c),(d) | 1.02% | 39% | $439 |
Year Ended 2/29/2020 | $9.00 | (0.18%) | 1.04% | 0.91% | 1.99% | 48% | $47 |
Year Ended 2/28/2019(f) | $9.38 | (5.17%) | 1.25%(d),(g) | 0.93%(d),(g) | 3.02%(g) | 71% | $29 |
Institutional 3 Class | |||||||
Year Ended 2/28/2021 | $10.91 | 24.34% | 0.94%(c),(d) | 0.84%(c),(d) | 1.21% | 39% | $555,487 |
Year Ended 2/29/2020 | $9.00 | (0.11%) | 0.97% | 0.85% | 2.18% | 48% | $119,513 |
Year Ended 2/28/2019(f) | $9.38 | (5.11%) | 1.19%(d),(g) | 0.87%(d),(g) | 3.14%(g) | 71% | $132,187 |
Class R | |||||||
Year Ended 2/28/2021 | $10.88 | 23.43% | 1.59%(c),(d) | 1.48%(c),(d),(e) | 2.33% | 39% | $3 |
Year Ended 2/29/2020 | $8.99 | (0.73%) | 1.65% | 1.52% | 1.88% | 48% | $19 |
Year Ended 2/28/2019(f) | $9.36 | (5.77%) | 1.90%(d),(g) | 1.53%(d),(g) | 2.91%(g) | 71% | $64 |
Columbia Overseas Core Fund | Annual Report 2021 | 21 |
February 28, 2021
22 | Columbia Overseas Core Fund | Annual Report 2021 |
February 28, 2021
Columbia Overseas Core Fund | Annual Report 2021 | 23 |
February 28, 2021
24 | Columbia Overseas Core Fund | Annual Report 2021 |
February 28, 2021
Columbia Overseas Core Fund | Annual Report 2021 | 25 |
February 28, 2021
Asset derivatives | ||
Risk exposure category | Statement of assets and liabilities location | Fair value ($) |
Foreign exchange risk | Unrealized appreciation on forward foreign currency exchange contracts | 1,020,493 |
Liability derivatives | ||
Risk exposure category | Statement of assets and liabilities location | Fair value ($) |
Foreign exchange risk | Unrealized depreciation on forward foreign currency exchange contracts | 821,267 |
Amount of realized gain (loss) on derivatives recognized in income | |||||
Risk exposure category | Forward foreign currency exchange contracts ($) | Futures contracts ($) | Options contracts written ($) | Options contracts purchased ($) | Total ($) |
Equity risk | — | 826,657 | 256,886 | (419,910) | 663,633 |
Foreign exchange risk | 790,842 | — | — | — | 790,842 |
Total | 790,842 | 826,657 | 256,886 | (419,910) | 1,454,475 |
Change in unrealized appreciation (depreciation) on derivatives recognized in income | |||
Risk exposure category | Forward foreign currency exchange contracts ($) | Options contracts purchased ($) | Total ($) |
Equity risk | — | (12,880) | (12,880) |
Foreign exchange risk | 214,492 | — | 214,492 |
Total | 214,492 | (12,880) | 201,612 |
Derivative instrument | Average notional amounts ($) |
Futures contracts — short | —* |
26 | Columbia Overseas Core Fund | Annual Report 2021 |
February 28, 2021
Derivative instrument | Average value ($) |
Options contracts — purchased | 8,813** |
Options contracts — written | (43,847)*** |
Derivative instrument | Average unrealized appreciation ($) | Average unrealized depreciation ($) |
Forward foreign currency exchange contracts | 739,003*** | (644,550)*** |
* | There were no ending daily outstanding amounts for the year ended February 28, 2021. The average notional amount of futures contracts opened (and closed) during the period was $20,003,047. |
** | Based on the ending daily outstanding amounts for the year ended February 28, 2021. |
*** | Based on the ending quarterly outstanding amounts for the year ended February 28, 2021. |
Morgan Stanley ($) | |
Assets | |
Forward foreign currency exchange contracts | 1,020,493 |
Liabilities | |
Forward foreign currency exchange contracts | 821,267 |
Total financial and derivative net assets | 199,226 |
Total collateral received (pledged) (a) | - |
Net amount (b) | 199,226 |
(a) | In some instances, the actual collateral received and/or pledged may be more than the amount shown due to overcollateralization. |
(b) | Represents the net amount due from/(to) counterparties in the event of default. |
Columbia Overseas Core Fund | Annual Report 2021 | 27 |
February 28, 2021
28 | Columbia Overseas Core Fund | Annual Report 2021 |
February 28, 2021
Effective rate (%) | |
Class A | 0.16 |
Advisor Class | 0.16 |
Class C | 0.16 |
Institutional Class | 0.17 |
Institutional 2 Class | 0.07 |
Institutional 3 Class | 0.01 |
Class R | 0.16 |
Columbia Overseas Core Fund | Annual Report 2021 | 29 |
February 28, 2021
Front End (%) | CDSC (%) | Amount ($) | |
Class A | 5.75 | 0.50 - 1.00(a) | 22,417 |
Class C | — | 1.00(b) | — |
(a) | This charge is imposed on certain investments of between $1 million and $50 million redeemed within 18 months after purchase, as follows: 1.00% if redeemed within 12 months after purchase, and 0.50% if redeemed more than 12, but less than 18, months after purchase, with certain limited exceptions. |
(b) | This charge applies to redemptions within 12 months after purchase, with certain limited exceptions. |
Fee rate(s) contractual through June 30, 2021 | |
Class A | 1.28% |
Advisor Class | 1.03 |
Class C | 2.03 |
Institutional Class | 1.03 |
Institutional 2 Class | 0.90 |
Institutional 3 Class | 0.84 |
Class R | 1.53 |
30 | Columbia Overseas Core Fund | Annual Report 2021 |
February 28, 2021
Undistributed net investment income ($) | Accumulated net realized gain ($) | Paid in capital ($) |
769,536 | (16,421,133) | 15,651,597 |
Year Ended February 28, 2021 | Year Ended February 29, 2020 | ||||
Ordinary income ($) | Long-term capital gains ($) | Total ($) | Ordinary income ($) | Long-term capital gains ($) | Total ($) |
5,697,107 | 8,823,055 | 14,520,162 | 9,554,763 | 384,227 | 9,938,990 |
Undistributed ordinary income ($) | Undistributed long-term capital gains ($) | Capital loss carryforwards ($) | Net unrealized appreciation ($) |
5,247,870 | 18,781,872 | — | 98,451,625 |
Columbia Overseas Core Fund | Annual Report 2021 | 31 |
February 28, 2021
Federal tax cost ($) | Gross unrealized appreciation ($) | Gross unrealized (depreciation) ($) | Net unrealized appreciation ($) |
729,934,126 | 118,449,876 | (19,998,251) | 98,451,625 |
No expiration short-term ($) | No expiration long-term ($) | Total ($) | Utilized ($) |
— | — | — | 16,087,881 |
32 | Columbia Overseas Core Fund | Annual Report 2021 |
February 28, 2021
Borrower or lender | Average loan balance ($) | Weighted average interest rate (%) | Number of days with outstanding loans |
Borrower | 1,550,000 | 0.64 | 4 |
Shares | |
Class A | 5,244,267 |
Advisor Class | 34,231 |
Class C | 496,686 |
Institutional Class | 3,249,695 |
Institutional 2 Class | 38,520 |
Institutional 3 Class | 18,411,922 |
Columbia Overseas Core Fund | Annual Report 2021 | 33 |
February 28, 2021
($) | |
Net investment income | 8,541,000 |
Net realized gain | 27,807,000 |
Net change in unrealized appreciation | 111,074,000 |
Net increase in net assets from operations | 147,422,000 |
34 | Columbia Overseas Core Fund | Annual Report 2021 |
February 28, 2021
Columbia Overseas Core Fund | Annual Report 2021 | 35 |
February 28, 2021
36 | Columbia Overseas Core Fund | Annual Report 2021 |
Columbia Overseas Core Fund | Annual Report 2021 | 37 |
Qualified dividend income | Dividends received deduction | Capital gain dividend | Foreign taxes paid to foreign countries | Foreign taxes paid per share to foreign countries | Foreign source income | Foreign source income per share |
91.89% | 1.58% | $26,556,760 | $1,206,776 | $0.02 | $12,194,089 | $0.16 |
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex* overseen | Other directorships held by Trustee during the past five years |
George S. Batejan c/o Columbia Management Investment Advisers, LLC 225 Franklin Street Mail Drop BX32 05228 Boston, MA 02110 1953 | Trustee since 2017 | Executive Vice President, Global Head of Technology and Operations, Janus Capital Group, Inc., 2010-2016 | 172 | Former Chairman of the Board, NICSA (National Investment Company Services Association) (Executive Committee, Nominating Committee and Governance Committee), 2014-2016; former Director, Intech Investment Management, 2011-2016; former Board Member, Metro Denver Chamber of Commerce, 2015-2016; former Advisory Board Member, University of Colorado Business School, 2015-2018 |
38 | Columbia Overseas Core Fund | Annual Report 2021 |
Independent trustees (continued)
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex* overseen | Other directorships held by Trustee during the past five years |
Kathleen Blatz c/o Columbia Management Investment Advisers, LLC 225 Franklin Street Mail Drop BX32 05228 Boston, MA 02110 1954 | Trustee since 2006 | Attorney; specializing in arbitration and mediation; Chief Justice, Minnesota Supreme Court, 1998-2006; Associate Justice, Minnesota Supreme Court, 1996-1998; Fourth Judicial District Court Judge, Hennepin County, 1994-1996; Attorney in private practice and public service, 1984-1993; State Representative, Minnesota House of Representatives, 1979-1993, which included service on the Tax and Financial Institutions and Insurance Committees; Member and Interim Chair, Minnesota Sports Facilities Authority, January 2017-July 2017; Interim President and Chief Executive Officer, Blue Cross and Blue Shield of Minnesota (health care insurance), February-July 2018 | 172 | Trustee, BlueCross BlueShield of Minnesota since 2009 (Chair of the Business Development Committee - 2014-2017; Chair of the Governance Committee, 2017-2019); former Member and Chair of the Board, Minnesota Sports Facilities Authority, January 2017-July 2017; Director, Robina Foundation, 2009-2020 (Chair, 2014-2020) |
Pamela G. Carlton c/o Columbia Management Investment Advisers, LLC 225 Franklin Street Mail Drop BX32 05228 Boston, MA 02110 1954 | Trustee since 2007 | President, Springboard — Partners in Cross Cultural Leadership (consulting company) since 2003; Managing Director of US Equity Research, JP Morgan Chase, 1999-2003; Director of US Equity Research, Chase Asset Management, 1996-1999; Co-Director Latin America Research, 1993-1996, COO Global Research, 1992-1996, Co-Director of US Research, 1991-1992, Investment Banker, 1982-1991, Morgan Stanley; Attorney at Cleary Gottlieb Steen & Hamilton LLP, 1980-1982 | 172 | Trustee, New York Presbyterian Hospital Board (Executive Committee and Chair of People Committee) since 1996; Director, DR Bank (Audit Committee) since 2017; Director, Evercore Inc. (Audit Committee, Nominating and Governance Committee) since 2019 |
Janet Langford Carrig c/o Columbia Management Investment Advisers, LLC 225 Franklin Street Mail Drop BX32 05228 Boston, MA 02110 1957 | Trustee since 1996 | Senior Vice President, General Counsel and Corporate Secretary, ConocoPhillips (independent energy company), September 2007-October 2018 | 170 | Director, EQT Corporation (natural gas producer) since 2019; Director, Whiting Petroleum Corporation (independent oil and gas company) since 2020 |
J. Kevin Connaughton c/o Columbia Management Investment Advisers, LLC 225 Franklin Street Mail Drop BX32 05228 Boston, MA 02110 1964 | Trustee since 2020(a) | Member, FINRA National Adjudicatory Council since January 2020; Adjunct Professor of Finance, Bentley University since January 2018; Managing Director and General Manager of Mutual Fund Products, Columbia Management Investment Advisers, LLC, May 2010-February 2015; President, Columbia Funds, 2008-2015; and senior officer of Columbia Funds and affiliated funds, 2003-2015 | 170 | Director, The Autism Project since March 2015; former Member of the Investment Committee, St. Michael’s College, November 2015-February 2020; former Trustee, St. Michael’s College, June 2017-September 2019; former Trustee, New Century Portfolios, January 2015-December 2017 |
Olive M. Darragh c/o Columbia Management Investment Advisers, LLC 225 Franklin Street Mail Drop BX32 05228 Boston, MA 02110 1962 | Trustee since 2020(a) | Managing Director of Darragh Inc. (strategy and talent management consulting firm) since 2010; Founder and CEO, Zolio, Inc. (investment management talent identification platform) since 2004; Partner, Tudor Investments, 2004-2010; Senior Partner, McKinsey & Company (consulting), 2001-2004 | 170 | Former Director, University of Edinburgh Business School (Member of US Board); former Director, Boston Public Library Foundation |
Columbia Overseas Core Fund | Annual Report 2021 | 39 |
Independent trustees (continued)
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex* overseen | Other directorships held by Trustee during the past five years |
Patricia M. Flynn c/o Columbia Management Investment Advisers, LLC 225 Franklin Street Mail Drop BX32 05228 Boston, MA 02110 1950 | Trustee since 2004 | Trustee Professor of Economics and Management, Bentley University since 1976 (also teaches and conducts research on corporate governance); Dean, McCallum Graduate School of Business, Bentley University, 1992-2002 | 172 | Trustee, MA Taxpayers Foundation since 1997; Board of Governors, Innovation Institute, MA Technology Collaborative, 2010-2019; Board of Directors, The MA Business Roundtable, 2003-2019 |
Brian J. Gallagher c/o Columbia Management Investment Advisers, LLC 225 Franklin Street Mail Drop BX32 05228 Boston, MA 02110 1954 | Trustee since 2017 | Retired; Partner with Deloitte & Touche LLP and its predecessors, 1977-2016 | 172 | Trustee, Catholic Schools Foundation since 2004 |
Douglas A. Hacker c/o Columbia Management Investment Advisers, LLC 225 Franklin Street Mail Drop BX32 05228 Boston, MA 02110 1955 | Co-Chair since 2021; Chair of CFST I and CFVIT since 2014; Trustee of CFST I and CFVIT since 1996 and CFST, CFST II, CFVST II, Columbia ETF Trust I and Columbia ETF Trust II since 2021 | Independent business executive since May 2006; Executive Vice President – Strategy of United Airlines, December 2002 - May 2006; President of UAL Loyalty Services (airline marketing company), September 2001-December 2002; Executive Vice President and Chief Financial Officer of United Airlines, July 1999-September 2001 | 170 | Director, Spartan Nash Company (food distributor); Director, Aircastle Limited (Chair of Audit Committee) (aircraft leasing); former Director, Nash Finch Company (food distributor), 2005-2013; former Director, SeaCube Container Leasing Ltd. (container leasing), 2010-2013; and former Director, Travelport Worldwide Limited (travel information technology), 2014-2019 |
Nancy T. Lukitsh c/o Columbia Management Investment Advisers, LLC 225 Franklin Street Mail Drop BX32 05228 Boston, MA 02110 1956 | Trustee since 2011 | Senior Vice President, Partner and Director of Marketing, Wellington Management Company, LLP (investment adviser), 1997-2010; Chair, Wellington Management Portfolios (commingled non-U.S. investment pools), 2007 -2010; Director, Wellington Trust Company, NA and other Wellington affiliates, 1997-2010 | 170 | |
David M. Moffett c/o Columbia Management Investment Advisers, LLC 225 Franklin Street Mail Drop BX32 05228 Boston, MA 02110 1952 | Trustee since 2011 | Retired; Consultant to Bridgewater and Associates | 170 | Director, CSX Corporation (transportation suppliers); Director, Genworth Financial, Inc. (financial and insurance products and services); Director, PayPal Holdings Inc. (payment and data processing services); Trustee, University of Oklahoma Foundation; former Director, eBay Inc. (online trading community), 2007-2015; and former Director, CIT Bank, CIT Group Inc. (commercial and consumer finance), 2010-2016 |
40 | Columbia Overseas Core Fund | Annual Report 2021 |
Independent trustees (continued)
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex* overseen | Other directorships held by Trustee during the past five years |
Catherine James Paglia c/o Columbia Management Investment Advisers, LLC 225 Franklin Street Mail Drop BX32 05228 Boston, MA 02110 1952 | Co-Chair since 2021; Chair of CFST, CFST II, CFVST II, Columbia ETF Trust I and Columbia ETF Trust II since 2020; Trustee of CFST, CFST II and CFVST II since 2004 and CFST I and CFVIT since 2021 | Director, Enterprise Asset Management, Inc. (private real estate and asset management company) since September 1998; Managing Director and Partner, Interlaken Capital, Inc., 1989-1997; Vice President, 1982-1985, Principal, 1985-1987, Managing Director, 1987-1989, Morgan Stanley; Vice President, Investment Banking, 1980-1982, Associate, Investment Banking, 1976-1980, Dean Witter Reynolds, Inc. | 172 | Director, Valmont Industries, Inc. (irrigation systems manufacturer) since 2012; Trustee, Carleton College (on the Investment Committee); Trustee, Carnegie Endowment for International Peace (on the Investment Committee) |
Anthony M. Santomero c/o Columbia Management Investment Advisers, LLC 225 Franklin Street Mail Drop BX32 05228 Boston, MA 02110 1946 | Trustee since 2008 | Richard K. Mellon Professor Emeritus of Finance, The Wharton School, University of Pennsylvania, since 2002; Senior Advisor, McKinsey & Company (consulting), 2006-2008; President, Federal Reserve Bank of Philadelphia, 2000-2006; Professor of Finance, The Wharton School, University of Pennsylvania, 1972-2002 | 172 | Trustee, Penn Mutual Life Insurance Company since March 2008; Director, RenaissanceRe Holdings Ltd. since May 2008; former Director, Citigroup Inc. and Citibank, N.A., 2009-2019; former Trustee, BofA Funds Series Trust (11 funds), 2008-2011 |
Minor M. Shaw c/o Columbia Management Investment Advisers, LLC 225 Franklin Street Mail Drop BX32 05228 Boston, MA 02110 1947 | Trustee since 2003 | President, Micco LLC (private investments) since 2011; President, Micco Corp. (family investment business), 1998-2011 | 172 | Director, BlueCross BlueShield of South Carolina (Chair of Compensation Committee) since April 2008; Trustee, Hollingsworth Funds (on the Investment Committee) since 2016 (previously Board Chair from 2016-2019); Former Advisory Board member, Duke Energy Corp., 2016-2020; Chair of the Duke Endowment; Chair of Greenville – Spartanburg Airport Commission; former Trustee, BofA Funds Series Trust (11 funds), 2003-2011; former Director, Piedmont Natural Gas, 2004-2016; former Director, National Association of Corporate Directors, Carolinas Chapter, 2013-2018; Chair, Daniel-Mickel Foundation |
Columbia Overseas Core Fund | Annual Report 2021 | 41 |
Independent trustees (continued)
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex* overseen | Other directorships held by Trustee during the past five years |
Natalie A. Trunow c/o Columbia Management Investment Advisers, LLC 225 Franklin Street Mail Drop BX32 05228 Boston, MA 02110 1967 | Trustee since 2020(a) | Chief Executive Officer, Millennial Portfolio Solutions LLC (asset management and consulting services) since January 2016; Non-executive Member of the Investment Committee, Sarona Asset Management Inc. (private equity firm) since September 2019; Advisor, Horizon Investments (asset management and consulting services) since August 2018; Advisor, Paradigm Asset Management since November 2016; Director of Investments, Casey Family Programs, April 2016-September 2016; Senior Vice President and Chief Investment Officer, Calvert Investments, August 2008 - January 2016; Section Head and Portfolio Manager, General Motors Asset Management, June 1997-August 2008 | 170 | Director, Health Services for Children with Special Needs, Inc.; Director, Consumer Credit Counseling Services (formerly Guidewell Financial Solutions); Independent Director, Investment Committee, Sarona Asset Management |
Sandra Yeager c/o Columbia Management Investment Advisers, LLC 225 Franklin Street Mail Drop BX32 05228 Boston, MA 02110 1964 | Trustee since 2017 | Retired; President and founder, Hanoverian Capital, LLC (SEC registered investment advisor firm), 2008-2016; Managing Director, DuPont Capital, 2006-2008; Managing Director, Morgan Stanley Investment Management, 2004-2006; Senior Vice President, Alliance Bernstein, 1990-2004 | 172 | Director, NAPE Education Foundation, October 2016-October 2020 |
* | The term “Columbia Funds Complex” as used herein includes Columbia Seligman Premium Technology Growth Fund, Tri-Continental Corporation and each series of Columbia Fund Series Trust (CFST), Columbia Funds Series Trust I (CFST I), Columbia Funds Series Trust II (CFST II), Columbia ETF Trust I, Columbia ETF Trust II, Columbia Funds Variable Insurance Trust (CFVIT) and Columbia Funds Variable Series Trust II (CFVST II). Messrs. Batejan, Gallagher, Petersen and Santomero and Mses. Blatz, Carlton, Flynn, Paglia, Shaw and Yeager serve as a director of Columbia Seligman Premium Technology Growth Fund and Tri-Continental Corporation. |
(a) | J. Kevin Connaughton was appointed a consultant to the Independent Trustees of CFST I and CFVIT effective March 1, 2016. Natalie A. Trunow was appointed a consultant to the Independent Trustees of CFST I and CFVIT effective September 1, 2016. Olive M. Darragh was appointed a consultant to the Independent Trustees of CFST I and CFVIT effective June 10, 2019. Shareholders of the Funds elected Mr. Connaughton and Mses. Darragh and Trunow as Trustees of CFST I, effective January 1, 2021, and of CFVIT, effective July 1, 2020. |
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during the past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex overseen | Other directorships held by Trustee during the past five years |
Christopher O. Petersen c/o Columbia Management Investment Advisers, LLC 5228 Ameriprise Financial Center Minneapolis, MN 55474 1970 | Trustee since 2020(a) | Vice President and Lead Chief Counsel, Ameriprise Financial, Inc. since January 2015 (previously Vice President and Chief Counsel, January 2010-December 2014); officer of Columbia Funds and affiliated funds since 2007 | 172 | None |
* | Interested person (as defined under the 1940 Act) by reason of being an officer, director, security holder and/or employee of the Investment Manager or Ameriprise Financial. |
(a) | Mr. Petersen serves as the President and Principal Executive Officer of the Columbia Funds (since 2015). |
42 | Columbia Overseas Core Fund | Annual Report 2021 |
The Board has appointed officers who are responsible for day-to-day business decisions based on policies it has established. The officers serve at the pleasure of the Board. The following table provides basic information about the Officers of the Fund as of the printing of this report, including principal occupations during the past five years, although their specific titles may have varied over the period. In addition to Mr. Petersen, who is the President and Principal Executive Officer, the Fund’s other officers are:
Name, address and year of birth | Position and year first appointed to position for any Fund in the Columbia Funds Complex or a predecessor thereof | Principal occupation(s) during past five years |
Michael G. Clarke 225 Franklin Street Boston, MA 02110 1969 | Chief Financial Officer and Principal Financial Officer (2009) and Senior Vice President (2019) | Vice President, Head of North American Operations, and Co-Head of Global Operations, Columbia Management Investment Advisers, LLC, since June 2019 (previously Vice President – Accounting and Tax, May 2010 – May 2019); senior officer of Columbia Funds and affiliated funds since 2002. |
Joseph Beranek 5890 Ameriprise Financial Center Minneapolis, MN 55474 1965 | Treasurer and Chief Accounting Officer (Principal Accounting Officer) (2019) and Principal Financial Officer (2020), CFST, CFST I, CFST II, CFVIT and CFVST II; Assistant Treasurer, Columbia ETF Trust I and Columbia ETF Trust II | Vice President – Mutual Fund Accounting and Financial Reporting, Columbia Management Investment Advisers, LLC, since December 2018 and March 2017, respectively (previously Vice President – Pricing and Corporate Actions, May 2010 - March 2017). |
Marybeth Pilat 225 Franklin Street Boston, MA 02110 1968 | Treasurer and Chief Accounting Officer (Principal Accounting Officer) and Principal Financial Officer (2020) for Columbia ETF Trust I and Columbia ETF Trust II; Assistant Treasurer, CFST, CFST I, CFST II, CFVIT and CFVST II | Vice President – Product Pricing and Administration, Columbia Management Investment Advisers, LLC, since May 2017; Director - Fund Administration, Calvert Investments, August 2015 – March 2017; Vice President - Fund Administration, Legg Mason, May 2015 - July 2015; Vice President - Fund Administration, Columbia Management Investment Advisers, LLC, May 2010 - April 2015. |
William F. Truscott 225 Franklin Street Boston, MA 02110 1960 | Senior Vice President (2001) | Formerly, Trustee of Columbia Funds Complex until January 1, 2021; Chief Executive Officer, Global Asset Management, Ameriprise Financial, Inc. since September 2012; Chairman of the Board and President, Columbia Management Investment Advisers, LLC since July 2004 and February 2012, respectively; Chairman of the Board and Chief Executive Officer, Columbia Management Investment Distributors, Inc. since November 2008 and February 2012, respectively; Chairman of the Board and Director, Threadneedle Asset Management Holdings, Sàrl since March 2013 and December 2008, respectively; senior executive of various entities affiliated with Columbia Threadneedle. |
Paul B. Goucher 485 Lexington Avenue New York, NY 10017 1968 | Senior Vice President (2011) and Assistant Secretary (2008) | Senior Vice President and Assistant General Counsel, Ameriprise Financial, Inc. since January 2017 (previously Vice President and Lead Chief Counsel, November 2008 - January 2017 and January 2013 - January 2017, respectively); Vice President, Chief Legal Officer and Assistant Secretary, Columbia Management Investment Advisers, LLC since March 2015 (previously Vice President and Assistant Secretary, May 2010 – March 2015). |
Thomas P. McGuire 225 Franklin Street Boston, MA 02110 1972 | Senior Vice President and Chief Compliance Officer (2012) | Vice President – Asset Management Compliance, Ameriprise Financial, Inc., since May 2010; Chief Compliance Officer, Columbia Acorn/Wanger Funds since December 2015; Chief Compliance Officer, Ameriprise Certificate Company September 2010 – September 2020. |
Colin Moore 225 Franklin Street Boston, MA 02110 1958 | Senior Vice President (2010) | Executive Vice President and Global Chief Investment Officer, Ameriprise Financial, Inc., since July 2013; Executive Vice President and Global Chief Investment Officer, Columbia Management Investment Advisers, LLC since July 2013. |
Columbia Overseas Core Fund | Annual Report 2021 | 43 |
Fund officers (continued)
Name, address and year of birth | Position and year first appointed to position for any Fund in the Columbia Funds Complex or a predecessor thereof | Principal occupation(s) during past five years |
Ryan C. Larrenaga 225 Franklin Street Boston, MA 02110 1970 | Senior Vice President (2017), Chief Legal Officer (2017), and Secretary (2015) | Vice President and Chief Counsel, Ameriprise Financial, Inc. since August 2018 (previously Vice President and Group Counsel, August 2011 - August 2018); Chief Legal Officer, Columbia Acorn/Wanger Funds, since September 2020; officer of Columbia Funds and affiliated funds since 2005. |
Daniel J. Beckman 225 Franklin Street Boston, MA 02110 1962 | Senior Vice President (2020) | Vice President – Head of North America Product, Columbia Management Investment Advisers, LLC (since April 2015). |
Michael E. DeFao 225 Franklin Street Boston, MA 02110 1968 | Vice President (2011) and Assistant Secretary (2010) | Vice President and Chief Counsel, Ameriprise Financial, Inc. since May 2010. |
Lyn Kephart-Strong 5228 Ameriprise Financial Center Minneapolis, MN 55474 1960 | Vice President (2015) | President, Columbia Management Investment Services Corp. since October 2014; Vice President & Resolution Officer, Ameriprise Trust Company since August 2009. |
Trustee | Votes for | Votes withheld | Abstentions |
George S. Batejan | 39,328,043,938 | 454,200,292 | 0 |
Kathleen Blatz | 39,337,937,974 | 444,306,256 | 0 |
Pamela G. Carlton | 39,344,288,391 | 437,955,839 | 0 |
Janet Langford Carrig | 39,329,254,400 | 452,989,830 | 0 |
J. Kevin Connaughton | 39,252,004,295 | 530,239,934 | 0 |
Olive M. Darragh | 39,268,887,557 | 513,356,673 | 0 |
Patricia M. Flynn | 39,330,975,954 | 451,268,276 | 0 |
Brian J. Gallagher | 39,331,403,614 | 450,840,615 | 0 |
Douglas A. Hacker | 39,242,844,166 | 539,400,064 | 0 |
Nancy T. Lukitsh | 39,349,165,585 | 433,078,645 | 0 |
David M. Moffett | 39,309,904,442 | 472,339,788 | 0 |
Catherine James Paglia | 39,328,739,370 | 453,504,860 | 0 |
Anthony M. Santomero | 39,306,518,896 | 475,725,334 | 0 |
Minor M. Shaw | 39,303,595,918 | 478,648,312 | 0 |
Natalie A. Trunow | 39,352,416,062 | 429,828,167 | 0 |
Sandra Yeager | 39,356,131,780 | 426,112,449 | 0 |
Christopher O. Petersen | 39,337,621,211 | 444,623,019 | 0 |
44 | Columbia Overseas Core Fund | Annual Report 2021 |
columbiathreadneedleus.com/investor/. The Fund is distributed by Columbia Management Investment Distributors, Inc., member FINRA, and managed by Columbia Management Investment Advisers, LLC.
February 28, 2021
3 | |
5 | |
6 | |
7 | |
11 | |
13 | |
14 | |
16 | |
20 | |
35 | |
36 | |
36 | |
42 |
Average annual total returns (%) (for the period ended February 28, 2021) | |||||
Inception | 1 Year | 5 Years | 10 Years | ||
Class A | Excluding sales charges | 03/20/95 | 18.84 | 11.08 | 7.75 |
Including sales charges | 11.97 | 9.77 | 7.11 | ||
Advisor Class | 12/11/06 | 19.14 | 11.36 | 7.99 | |
Class C | Excluding sales charges | 06/26/00 | 18.01 | 10.26 | 6.95 |
Including sales charges | 17.01 | 10.26 | 6.95 | ||
Institutional Class | 09/27/10 | 19.11 | 11.36 | 8.02 | |
Institutional 2 Class | 12/11/06 | 19.26 | 11.46 | 8.13 | |
Institutional 3 Class* | 02/28/13 | 19.29 | 11.50 | 8.10 | |
Class R | 12/11/06 | 18.59 | 10.80 | 7.48 | |
MSCI World Value Index (Net) | 16.75 | 9.35 | 6.37 | ||
MSCI World Index (Net) | 29.34 | 14.10 | 9.41 |
* | The returns shown for periods prior to the share class inception date (including returns for the Life of the Fund, if shown, which are since Fund inception) include the returns of the Fund’s oldest share class. Since the oldest share class of the Fund, Class B, are no longer available, Class A shares of the Fund were used. These returns are adjusted to reflect any higher class-related operating expenses of the newer share classes, as applicable. Please visit columbiathreadneedleus.com/investor/investment-products/mutual-funds/appended-performance for more information. |
Columbia Global Equity Value Fund | Annual Report 2021 | 3 |
Equity sector breakdown (%) (at February 28, 2021) | |
Communication Services | 4.4 |
Consumer Discretionary | 8.8 |
Consumer Staples | 9.4 |
Energy | 7.7 |
Financials | 22.5 |
Health Care | 12.2 |
Industrials | 12.6 |
Information Technology | 12.6 |
Materials | 4.0 |
Real Estate | 1.9 |
Utilities | 3.9 |
Total | 100.0 |
Country breakdown (%) (at February 28, 2021) | |
Canada | 3.5 |
Finland | 1.8 |
France | 3.9 |
Hong Kong | 1.0 |
Japan | 8.6 |
Luxembourg | 1.1 |
Netherlands | 5.1 |
Puerto Rico | 0.6 |
Russian Federation | 1.3 |
Singapore | 1.7 |
South Korea | 1.9 |
Spain | 2.2 |
Switzerland | 1.6 |
United Kingdom | 8.6 |
United States(a) | 57.1 |
Total | 100.0 |
(a) | Includes investments in Money Market Funds. |
4 | Columbia Global Equity Value Fund | Annual Report 2021 |
• | The Fund’s outperformance of its benchmark during the period was driven by strong broad-based stock selection, particularly within the real estate, communication services and health care sectors. Allocation was a secondary contributor, helped primarily by an overweight allocation to information technology. |
• | The strongest contributing countries to Fund performance were the United States, Netherlands and United Kingdom. |
• | The Fund’s holdings in Abbott Laboratories, Target Corp., Broadcom, Inc. and Trane Technologies PLC were among the largest individual contributors to relative performance during the period. |
• | Allocations to, and stock selection within, the materials and consumer discretionary sectors weighed on the Fund’s performance versus the benchmark during the period. |
• | Stock selection within Japan, and underweight allocations to Germany and Australia detracted from relative results. |
• | The Fund’s holdings in KeyCorp, BP PLC, Tecnicas Reunidas SA and United Parcel Service, Inc. were among those individual securities having the largest negative impact on Fund performance versus the benchmark. |
Columbia Global Equity Value Fund | Annual Report 2021 | 5 |
(Unaudited)
September 1, 2020 — February 28, 2021 | |||||||
Account value at the beginning of the period ($) | Account value at the end of the period ($) | Expenses paid during the period ($) | Fund’s annualized expense ratio (%) | ||||
Actual | Hypothetical | Actual | Hypothetical | Actual | Hypothetical | Actual | |
Class A | 1,000.00 | 1,000.00 | 1,143.20 | 1,018.88 | 6.04 | 5.69 | 1.15 |
Advisor Class | 1,000.00 | 1,000.00 | 1,144.60 | 1,020.11 | 4.73 | 4.46 | 0.90 |
Class C | 1,000.00 | 1,000.00 | 1,139.70 | 1,015.20 | 9.97 | 9.39 | 1.90 |
Institutional Class | 1,000.00 | 1,000.00 | 1,144.20 | 1,020.11 | 4.73 | 4.46 | 0.90 |
Institutional 2 Class | 1,000.00 | 1,000.00 | 1,145.00 | 1,020.40 | 4.42 | 4.16 | 0.84 |
Institutional 3 Class | 1,000.00 | 1,000.00 | 1,144.60 | 1,020.70 | 4.10 | 3.86 | 0.78 |
Class R | 1,000.00 | 1,000.00 | 1,141.40 | 1,017.65 | 7.35 | 6.93 | 1.40 |
6 | Columbia Global Equity Value Fund | Annual Report 2021 |
February 28, 2021
Common Stocks 97.9% | ||
Issuer | Shares | Value ($) |
Canada 3.5% | ||
Alimentation Couche-Tard, Inc., Class B | 448,264 | 13,473,281 |
Barrick Gold Corp. | 279,876 | 5,225,285 |
Cameco Corp. | 569,369 | 8,916,319 |
Yamana Gold, Inc. | 1,260,763 | 5,055,660 |
Total | 32,670,545 | |
Finland 1.8% | ||
UPM-Kymmene OYJ | 433,867 | 16,575,717 |
France 3.8% | ||
AXA SA | 776,507 | 19,527,801 |
BNP Paribas SA(a) | 282,831 | 16,813,578 |
Total | 36,341,379 | |
Hong Kong 1.0% | ||
WH Group Ltd. | 10,106,000 | 9,064,173 |
Japan 8.6% | ||
Daiwabo Holdings Co., Ltd. | 145,400 | 10,877,728 |
ITOCHU Corp. | 655,700 | 19,584,459 |
Nippon Telegraph & Telephone Corp. | 228,000 | 5,906,354 |
ORIX Corp. | 1,128,001 | 19,246,768 |
Starts Corp., Inc. | 218,200 | 5,719,076 |
Subaru Corp. | 321,300 | 6,056,777 |
Takeda Pharmaceutical Co., Ltd. | 418,628 | 14,107,271 |
Total | 81,498,433 | |
Luxembourg 1.1% | ||
Aperam SA | 240,234 | 10,057,950 |
Netherlands 5.1% | ||
ING Groep NV | 1,761,125 | 19,289,105 |
Koninklijke Ahold Delhaize NV | 224,458 | 5,926,759 |
NXP Semiconductors NV | 72,895 | 13,306,982 |
Signify NV(a) | 216,091 | 9,416,129 |
Total | 47,938,975 | |
Puerto Rico 0.6% | ||
Popular, Inc. | 89,617 | 5,988,208 |
Russian Federation 1.3% | ||
Sberbank of Russia PJSC, ADR | 849,001 | 12,354,613 |
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Singapore 1.7% | ||
BW LPG Ltd. | 744,276 | 4,419,031 |
Venture Corp., Ltd. | 820,100 | 11,702,744 |
Total | 16,121,775 | |
South Korea 1.9% | ||
Hyundai Home Shopping Network Corp. | 83,870 | 5,920,171 |
Youngone Corp.(a) | 325,015 | 12,113,373 |
Total | 18,033,544 | |
Spain 2.2% | ||
ACS Actividades de Construccion y Servicios SA | 367,931 | 11,241,920 |
Endesa SA | 247,225 | 6,109,012 |
Tecnicas Reunidas SA(a) | 258,011 | 3,753,091 |
Total | 21,104,023 | |
Switzerland 1.6% | ||
TE Connectivity Ltd. | 116,767 | 15,183,213 |
United Kingdom 8.6% | ||
BP PLC, ADR | 392,209 | 9,573,822 |
BT Group PLC(a) | 3,707,384 | 6,417,186 |
DCC PLC | 81,211 | 6,560,144 |
John Wood Group PLC(a) | 1,350,244 | 5,676,062 |
Just Group PLC(a) | 6,725,571 | 8,469,977 |
Royal Dutch Shell PLC, Class A | 578,664 | 11,836,276 |
TP Icap Group PLC | 4,727,231 | 15,806,348 |
Vodafone Group PLC | 10,031,470 | 17,172,302 |
Total | 81,512,117 | |
United States 55.1% | ||
AbbVie, Inc. | 162,314 | 17,487,710 |
Allstate Corp. (The) | 144,352 | 15,387,923 |
Bank of America Corp. | 667,573 | 23,171,459 |
Bank of New York Mellon Corp. (The) | 255,294 | 10,763,195 |
BlackRock, Inc. | 21,326 | 14,810,907 |
Broadcom, Inc. | 34,639 | 16,275,827 |
Centene Corp.(a) | 146,417 | 8,571,251 |
Chevron Corp. | 179,735 | 17,973,500 |
Cigna Corp. | 63,677 | 13,365,802 |
Cisco Systems, Inc. | 360,801 | 16,189,141 |
Columbia Global Equity Value Fund | Annual Report 2021 | 7 |
February 28, 2021
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Citigroup, Inc. | 237,793 | 15,665,803 |
Dollar Tree, Inc.(a) | 96,983 | 9,523,731 |
DTE Energy Co. | 120,249 | 14,155,712 |
Duke Energy Corp. | 182,801 | 15,645,938 |
Eli Lilly and Co. | 62,270 | 12,758,500 |
EOG Resources, Inc. | 136,227 | 8,794,815 |
Fidelity National Information Services, Inc. | 96,354 | 13,296,852 |
General Motors Co. | 249,259 | 12,794,464 |
Home Depot, Inc. (The) | 63,208 | 16,329,155 |
Howmet Aerospace, Inc.(a) | 264,781 | 7,442,994 |
International Business Machines Corp. | 113,503 | 13,498,912 |
Johnson & Johnson | 176,343 | 27,943,312 |
Masco Corp. | 193,067 | 10,275,026 |
Medtronic PLC | 135,715 | 15,874,584 |
Mondelez International, Inc., Class A | 276,204 | 14,683,005 |
Norfolk Southern Corp. | 67,827 | 17,096,474 |
NortonLifeLock, Inc. | 337,214 | 6,579,045 |
Philip Morris International, Inc. | 203,432 | 17,092,357 |
Primo Water Corp. | 407,475 | 5,822,818 |
Procter & Gamble Co. (The) | 165,608 | 20,457,556 |
Prologis, Inc. | 123,960 | 12,280,717 |
Quotient Ltd.(a) | 530,067 | 2,380,001 |
Southwest Airlines Co. | 207,131 | 12,040,525 |
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
State Street Corp. | 146,338 | 10,649,016 |
Target Corp. | 103,148 | 18,921,469 |
T-Mobile USA, Inc.(a) | 97,322 | 11,675,720 |
Trane Technologies PLC | 63,530 | 9,735,337 |
United Parcel Service, Inc., Class B | 80,604 | 12,721,729 |
Total | 520,132,282 | |
Total Common Stocks (Cost $801,898,152) | 924,576,947 | |
Exchange-Traded Equity Funds 1.4% | ||
Shares | Value ($) | |
United States 1.4% | ||
SPDR S&P 500 ETF Trust | 35,854 | 13,637,427 |
Total Exchange-Traded Equity Funds (Cost $12,877,936) | 13,637,427 | |
Money Market Funds 0.6% | ||
Columbia Short-Term Cash Fund, 0.086%(b),(c) | 5,216,795 | 5,216,274 |
Total Money Market Funds (Cost $5,216,011) | 5,216,274 | |
Total Investments in Securities (Cost $819,992,099) | 943,430,648 | |
Other Assets & Liabilities, Net | 767,345 | |
Net Assets | $944,197,993 |
Forward foreign currency exchange contracts | |||||
Currency to be sold | Currency to be purchased | Counterparty | Settlement date | Unrealized appreciation ($) | Unrealized depreciation ($) |
2,895,208 USD | 3,677,000 CAD | Citi | 03/25/2021 | — | (5,656) |
7,844,000 EUR | 9,533,548 USD | Morgan Stanley | 03/25/2021 | 63,355 | — |
6,879,000 GBP | 9,414,796 USD | Morgan Stanley | 03/25/2021 | — | (170,666) |
986,571,000 JPY | 9,464,659 USD | Morgan Stanley | 03/25/2021 | 206,720 | — |
15,773,143,000 KRW | 14,149,781 USD | Morgan Stanley | 03/25/2021 | 146,290 | — |
12,613,000 SGD | 9,491,259 USD | Morgan Stanley | 03/25/2021 | 32,743 | — |
9,484,559 USD | 12,361,000 AUD | Morgan Stanley | 03/25/2021 | 27,653 | — |
9,407,602 USD | 12,028,000 CAD | Morgan Stanley | 03/25/2021 | 44,541 | — |
1,599,000 EUR | 1,926,721 USD | UBS | 03/25/2021 | — | (3,778) |
Total | 521,302 | (180,100) |
8 | Columbia Global Equity Value Fund | Annual Report 2021 |
February 28, 2021
(a) | Non-income producing investment. |
(b) | The rate shown is the seven-day current annualized yield at February 28, 2021. |
(c) | As defined in the Investment Company Act of 1940, as amended, an affiliated company is one in which the Fund owns 5% or more of the company’s outstanding voting securities, or a company which is under common ownership or control with the Fund. The value of the holdings and transactions in these affiliated companies during the year ended February 28, 2021 are as follows: |
Affiliated issuers | Beginning of period($) | Purchases($) | Sales($) | Net change in unrealized appreciation (depreciation)($) | End of period($) | Realized gain (loss)($) | Dividends($) | End of period shares |
Columbia Short-Term Cash Fund, 0.086% | ||||||||
17,912,887 | 200,280,952 | (212,977,636) | 71 | 5,216,274 | 4,707 | 21,935 | 5,216,795 |
ADR | American Depositary Receipt |
AUD | Australian Dollar |
CAD | Canada Dollar |
EUR | Euro |
GBP | British Pound |
JPY | Japanese Yen |
KRW | South Korean Won |
SGD | Singapore Dollar |
USD | US Dollar |
■ | Level 1 — Valuations based on quoted prices for investments in active markets that the Fund has the ability to access at the measurement date. Valuation adjustments are not applied to Level 1 investments. |
■ | Level 2 — Valuations based on other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risks, etc.). |
■ | Level 3 — Valuations based on significant unobservable inputs (including the Fund’s own assumptions and judgment in determining the fair value of investments). |
Columbia Global Equity Value Fund | Annual Report 2021 | 9 |
February 28, 2021
The Committee meets at least monthly to review and approve valuation matters, which may include a description of specific valuation determinations, data regarding pricing information received from approved pricing vendors and brokers and the results of Board-approved valuation control policies and procedures (the Policies). The Policies address, among other things, instances when market quotations are or are not readily available, including recommendations of third party pricing vendors and a determination of appropriate pricing 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 | ||||
Common Stocks | ||||
Canada | 32,670,545 | — | — | 32,670,545 |
Finland | — | 16,575,717 | — | 16,575,717 |
France | — | 36,341,379 | — | 36,341,379 |
Hong Kong | — | 9,064,173 | — | 9,064,173 |
Japan | — | 81,498,433 | — | 81,498,433 |
Luxembourg | — | 10,057,950 | — | 10,057,950 |
Netherlands | 13,306,982 | 34,631,993 | — | 47,938,975 |
Puerto Rico | 5,988,208 | — | — | 5,988,208 |
Russian Federation | — | 12,354,613 | — | 12,354,613 |
Singapore | — | 16,121,775 | — | 16,121,775 |
South Korea | — | 18,033,544 | — | 18,033,544 |
Spain | — | 21,104,023 | — | 21,104,023 |
Switzerland | 15,183,213 | — | — | 15,183,213 |
United Kingdom | 9,573,822 | 71,938,295 | — | 81,512,117 |
United States | 520,132,282 | — | — | 520,132,282 |
Total Common Stocks | 596,855,052 | 327,721,895 | — | 924,576,947 |
Exchange-Traded Equity Funds | 13,637,427 | — | — | 13,637,427 |
Money Market Funds | 5,216,274 | — | — | 5,216,274 |
Total Investments in Securities | 615,708,753 | 327,721,895 | — | 943,430,648 |
Investments in Derivatives | ||||
Asset | ||||
Forward Foreign Currency Exchange Contracts | — | 521,302 | — | 521,302 |
Liability | ||||
Forward Foreign Currency Exchange Contracts | — | (180,100) | — | (180,100) |
Total | 615,708,753 | 328,063,097 | — | 943,771,850 |
10 | Columbia Global Equity Value Fund | Annual Report 2021 |
February 28, 2021
Assets | |
Investments in securities, at value | |
Unaffiliated issuers (cost $814,776,088) | $938,214,374 |
Affiliated issuers (cost $5,216,011) | 5,216,274 |
Cash collateral held at broker for: | |
Forward foreign currency exchange contracts | 106,000 |
Unrealized appreciation on forward foreign currency exchange contracts | 521,302 |
Receivable for: | |
Capital shares sold | 153,923 |
Dividends | 1,539,698 |
Foreign tax reclaims | 589,934 |
Prepaid expenses | 19,270 |
Trustees’ deferred compensation plan | 108,895 |
Total assets | 946,469,670 |
Liabilities | |
Unrealized depreciation on forward foreign currency exchange contracts | 180,100 |
Payable for: | |
Capital shares purchased | 1,492,850 |
Management services fees | 18,252 |
Distribution and/or service fees | 5,351 |
Transfer agent fees | 76,210 |
Compensation of board members | 286,468 |
Compensation of chief compliance officer | 7 |
Other expenses | 103,544 |
Trustees’ deferred compensation plan | 108,895 |
Total liabilities | 2,271,677 |
Net assets applicable to outstanding capital stock | $944,197,993 |
Represented by | |
Paid in capital | 825,975,039 |
Total distributable earnings (loss) | 118,222,954 |
Total - representing net assets applicable to outstanding capital stock | $944,197,993 |
Columbia Global Equity Value Fund | Annual Report 2021 | 11 |
February 28, 2021
Class A | |
Net assets | $696,567,619 |
Shares outstanding | 54,117,796 |
Net asset value per share | $12.87 |
Maximum sales charge | 5.75% |
Maximum offering price per share (calculated by dividing the net asset value per share by 1.0 minus the maximum sales charge for Class A shares) | $13.66 |
Advisor Class | |
Net assets | $4,937,489 |
Shares outstanding | 381,270 |
Net asset value per share | $12.95 |
Class C | |
Net assets | $14,480,419 |
Shares outstanding | 1,144,221 |
Net asset value per share | $12.66 |
Institutional Class | |
Net assets | $148,950,178 |
Shares outstanding | 11,543,873 |
Net asset value per share | $12.90 |
Institutional 2 Class | |
Net assets | $63,365,614 |
Shares outstanding | 4,922,653 |
Net asset value per share | $12.87 |
Institutional 3 Class | |
Net assets | $8,071,437 |
Shares outstanding | 647,757 |
Net asset value per share | $12.46 |
Class R | |
Net assets | $7,825,237 |
Shares outstanding | 609,917 |
Net asset value per share | $12.83 |
12 | Columbia Global Equity Value Fund | Annual Report 2021 |
Year Ended February 28, 2021
Net investment income | |
Income: | |
Dividends — unaffiliated issuers | $21,972,563 |
Dividends — affiliated issuers | 21,935 |
Foreign taxes withheld | (914,202) |
Total income | 21,080,296 |
Expenses: | |
Management services fees | 5,420,431 |
Distribution and/or service fees | |
Class A | 1,502,647 |
Class C | 121,760 |
Class R | 24,977 |
Transfer agent fees | |
Class A | 819,966 |
Advisor Class | 5,093 |
Class C | 16,381 |
Institutional Class | 156,684 |
Institutional 2 Class | 17,650 |
Institutional 3 Class | 566 |
Class R | 6,636 |
Compensation of board members | 63,548 |
Custodian fees | 56,686 |
Printing and postage fees | 84,897 |
Registration fees | 111,074 |
Audit fees | 129,206 |
Legal fees | 15,747 |
Interest on collateral | 213 |
Compensation of chief compliance officer | 144 |
Other | 70,767 |
Total expenses | 8,625,073 |
Expense reduction | (8,587) |
Total net expenses | 8,616,486 |
Net investment income | 12,463,810 |
Realized and unrealized gain (loss) — net | |
Net realized gain (loss) on: | |
Investments — unaffiliated issuers | 71,243,464 |
Investments — affiliated issuers | 4,707 |
Foreign currency translations | 19,903 |
Forward foreign currency exchange contracts | (2,157,382) |
Options purchased | (486,893) |
Options contracts written | 92,820 |
Net realized gain | 68,716,619 |
Net change in unrealized appreciation (depreciation) on: | |
Investments — unaffiliated issuers | 71,093,476 |
Investments — affiliated issuers | 71 |
Foreign currency translations | 24,495 |
Forward foreign currency exchange contracts | 628,195 |
Net change in unrealized appreciation (depreciation) | 71,746,237 |
Net realized and unrealized gain | 140,462,856 |
Net increase in net assets resulting from operations | $152,926,666 |
Columbia Global Equity Value Fund | Annual Report 2021 | 13 |
Year Ended February 28, 2021 | Year Ended February 29, 2020 | |
Operations | ||
Net investment income | $12,463,810 | $16,588,740 |
Net realized gain | 68,716,619 | 50,005,800 |
Net change in unrealized appreciation (depreciation) | 71,746,237 | (59,658,078) |
Net increase in net assets resulting from operations | 152,926,666 | 6,936,462 |
Distributions to shareholders | ||
Net investment income and net realized gains | ||
Class A | (55,032,370) | (58,564,659) |
Advisor Class | (318,588) | (212,865) |
Class C | (868,529) | (415,080) |
Institutional Class | (10,300,827) | (9,317,339) |
Institutional 2 Class | (2,757,764) | (84,868) |
Institutional 3 Class | (386,964) | (64,675) |
Class R | (376,770) | (85,934) |
Total distributions to shareholders | (70,041,812) | (68,745,420) |
Increase (decrease) in net assets from capital stock activity | 193,626,477 | (25,659,993) |
Total increase (decrease) in net assets | 276,511,331 | (87,468,951) |
Net assets at beginning of year | 667,686,662 | 755,155,613 |
Net assets at end of year | $944,197,993 | $667,686,662 |
14 | Columbia Global Equity Value Fund | Annual Report 2021 |
Year Ended | Year Ended | |||
February 28, 2021 | February 29, 2020 | |||
Shares | Dollars ($) | Shares | Dollars ($) | |
Capital stock activity | ||||
Class A | ||||
Subscriptions | 1,090,903 | 13,003,072 | 597,031 | 7,720,496 |
Fund reorganization | 9,003,139 | 100,683,384 | — | — |
Distributions reinvested | 4,401,168 | 51,191,820 | 4,210,784 | 54,274,523 |
Redemptions | (8,383,338) | (97,149,931) | (6,438,177) | (83,812,093) |
Net increase (decrease) | 6,111,872 | 67,728,345 | (1,630,362) | (21,817,074) |
Advisor Class | ||||
Subscriptions | 74,218 | 887,392 | 82,018 | 1,069,298 |
Fund reorganization | 307,950 | 3,488,673 | — | — |
Distributions reinvested | 24,503 | 290,651 | 16,389 | 212,624 |
Redemptions | (221,864) | (2,571,272) | (43,921) | (565,904) |
Net increase | 184,807 | 2,095,444 | 54,486 | 716,018 |
Class C | ||||
Subscriptions | 58,210 | 673,767 | 27,624 | 358,194 |
Fund reorganization | 1,440,436 | 15,755,627 | — | — |
Distributions reinvested | 70,887 | 854,469 | 29,953 | 380,154 |
Redemptions | (741,236) | (8,889,553) | (176,634) | (2,263,479) |
Net increase (decrease) | 828,297 | 8,394,310 | (119,057) | (1,525,131) |
Institutional Class | ||||
Subscriptions | 1,093,193 | 13,373,594 | 517,663 | 6,747,488 |
Fund reorganization | 5,333,384 | 60,354,213 | — | — |
Distributions reinvested | 768,630 | 9,067,130 | 600,268 | 7,752,774 |
Redemptions | (3,060,783) | (35,891,920) | (1,381,185) | (17,986,141) |
Net increase (decrease) | 4,134,424 | 46,903,017 | (263,254) | (3,485,879) |
Institutional 2 Class | ||||
Subscriptions | 4,351,228 | 50,763,383 | 49,776 | 642,143 |
Fund reorganization | 1,285,313 | 14,496,296 | — | — |
Distributions reinvested | 219,958 | 2,741,159 | 6,555 | 84,619 |
Redemptions | (1,018,680) | (11,989,323) | (19,660) | (259,157) |
Net increase | 4,837,819 | 56,011,515 | 36,671 | 467,605 |
Institutional 3 Class | ||||
Subscriptions | 148,522 | 1,754,855 | 40,158 | 507,123 |
Fund reorganization | 705,797 | 7,754,798 | — | — |
Distributions reinvested | 32,461 | 386,709 | 5,143 | 64,431 |
Redemptions | (309,052) | (3,538,600) | (20,926) | (257,955) |
Net increase | 577,728 | 6,357,762 | 24,375 | 313,599 |
Class R | ||||
Subscriptions | 99,370 | 1,205,723 | 5,269 | 68,307 |
Fund reorganization | 712,452 | 8,153,097 | — | — |
Distributions reinvested | 30,377 | 373,699 | 6,109 | 78,562 |
Redemptions | (298,481) | (3,596,435) | (36,755) | (476,000) |
Net increase (decrease) | 543,718 | 6,136,084 | (25,377) | (329,131) |
Total net increase (decrease) | 17,218,665 | 193,626,477 | (1,922,518) | (25,659,993) |
Columbia Global Equity Value Fund | Annual Report 2021 | 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 | |||||||
Year Ended 2/28/2021 | $11.89 | 0.19 | 1.89 | 2.08 | (0.20) | (0.90) | (1.10) |
Year Ended 2/29/2020 | $13.00 | 0.29 | (0.18) | 0.11 | (0.27) | (0.95) | (1.22) |
Year Ended 2/28/2019 | $14.20 | 0.22 | (0.22) | 0.00(e) | (0.17) | (1.03) | (1.20) |
Year Ended 2/28/2018 | $12.29 | 0.19 | 1.96 | 2.15 | (0.24) | — | (0.24) |
Year Ended 2/28/2017 | $10.48 | 0.24 | 1.84 | 2.08 | (0.27) | — | (0.27) |
Advisor Class | |||||||
Year Ended 2/28/2021 | $11.96 | 0.20 | 1.92 | 2.12 | (0.23) | (0.90) | (1.13) |
Year Ended 2/29/2020 | $13.07 | 0.32 | (0.18) | 0.14 | (0.30) | (0.95) | (1.25) |
Year Ended 2/28/2019 | $14.26 | 0.24 | (0.20) | 0.04 | (0.20) | (1.03) | (1.23) |
Year Ended 2/28/2018 | $12.35 | 0.19 | 1.99 | 2.18 | (0.27) | — | (0.27) |
Year Ended 2/28/2017 | $10.52 | 0.26 | 1.87 | 2.13 | (0.30) | — | (0.30) |
Class C | |||||||
Year Ended 2/28/2021 | $11.70 | 0.06 | 1.91 | 1.97 | (0.11) | (0.90) | (1.01) |
Year Ended 2/29/2020 | $12.81 | 0.19 | (0.18) | 0.01 | (0.17) | (0.95) | (1.12) |
Year Ended 2/28/2019 | $14.04 | 0.16 | (0.27) | (0.11) | (0.09) | (1.03) | (1.12) |
Year Ended 2/28/2018 | $12.16 | 0.09 | 1.93 | 2.02 | (0.14) | — | (0.14) |
Year Ended 2/28/2017 | $10.36 | 0.15 | 1.84 | 1.99 | (0.19) | — | (0.19) |
Institutional Class | |||||||
Year Ended 2/28/2021 | $11.92 | 0.21 | 1.90 | 2.11 | (0.23) | (0.90) | (1.13) |
Year Ended 2/29/2020 | $13.03 | 0.32 | (0.18) | 0.14 | (0.30) | (0.95) | (1.25) |
Year Ended 2/28/2019 | $14.22 | 0.25 | (0.21) | 0.04 | (0.20) | (1.03) | (1.23) |
Year Ended 2/28/2018 | $12.31 | 0.22 | 1.96 | 2.18 | (0.27) | — | (0.27) |
Year Ended 2/28/2017 | $10.49 | 0.27 | 1.85 | 2.12 | (0.30) | — | (0.30) |
Institutional 2 Class | |||||||
Year Ended 2/28/2021 | $11.89 | 0.19 | 1.93 | 2.12 | (0.24) | (0.90) | (1.14) |
Year Ended 2/29/2020 | $13.00 | 0.32 | (0.17) | 0.15 | (0.31) | (0.95) | (1.26) |
Year Ended 2/28/2019 | $14.19 | 0.25 | (0.21) | 0.04 | (0.20) | (1.03) | (1.23) |
Year Ended 2/28/2018 | $12.29 | 0.22 | 1.96 | 2.18 | (0.28) | — | (0.28) |
Year Ended 2/28/2017 | $10.47 | 0.27 | 1.86 | 2.13 | (0.31) | — | (0.31) |
16 | Columbia Global Equity Value Fund | Annual Report 2021 |
Net asset value, end of period | Total return | Total gross expense ratio to average net assets(a) | Total net expense ratio to average net assets(a),(b) | Net investment income ratio to average net assets | Portfolio turnover | Net assets, end of period (000’s) | |
Class A | |||||||
Year Ended 2/28/2021 | $12.87 | 18.84% | 1.15%(c) | 1.15%(c),(d) | 1.61% | 70% | $696,568 |
Year Ended 2/29/2020 | $11.89 | 0.36% | 1.13%(c) | 1.13%(c),(d) | 2.20% | 37% | $570,739 |
Year Ended 2/28/2019 | $13.00 | 0.40% | 1.15%(c) | 1.15%(c),(d) | 1.62% | 33% | $645,363 |
Year Ended 2/28/2018 | $14.20 | 17.59% | 1.15% | 1.15%(d) | 1.40% | 32% | $710,292 |
Year Ended 2/28/2017 | $12.29 | 20.08% | 1.19% | 1.19%(d) | 2.07% | 36% | $688,572 |
Advisor Class | |||||||
Year Ended 2/28/2021 | $12.95 | 19.14% | 0.90%(c) | 0.90%(c),(d) | 1.72% | 70% | $4,937 |
Year Ended 2/29/2020 | $11.96 | 0.61% | 0.88%(c) | 0.88%(c),(d) | 2.44% | 37% | $2,349 |
Year Ended 2/28/2019 | $13.07 | 0.66% | 0.90%(c) | 0.90%(c),(d) | 1.77% | 33% | $1,856 |
Year Ended 2/28/2018 | $14.26 | 17.79% | 0.90% | 0.90%(d) | 1.36% | 32% | $688 |
Year Ended 2/28/2017 | $12.35 | 20.49% | 0.94% | 0.94%(d) | 2.21% | 36% | $191 |
Class C | |||||||
Year Ended 2/28/2021 | $12.66 | 18.01% | 1.90%(c) | 1.90%(c),(d) | 0.54% | 70% | $14,480 |
Year Ended 2/29/2020 | $11.70 | (0.39%) | 1.89%(c) | 1.89%(c),(d) | 1.46% | 37% | $3,696 |
Year Ended 2/28/2019 | $12.81 | (0.39%) | 1.89%(c) | 1.89%(c),(d) | 1.17% | 33% | $5,573 |
Year Ended 2/28/2018 | $14.04 | 16.67% | 1.90% | 1.90%(d) | 0.68% | 32% | $19,715 |
Year Ended 2/28/2017 | $12.16 | 19.32% | 1.94% | 1.94%(d) | 1.33% | 36% | $21,017 |
Institutional Class | |||||||
Year Ended 2/28/2021 | $12.90 | 19.11% | 0.90%(c) | 0.90%(c),(d) | 1.78% | 70% | $148,950 |
Year Ended 2/29/2020 | $11.92 | 0.61% | 0.88%(c) | 0.88%(c),(d) | 2.45% | 37% | $88,301 |
Year Ended 2/28/2019 | $13.03 | 0.66% | 0.90%(c) | 0.90%(c),(d) | 1.87% | 33% | $99,972 |
Year Ended 2/28/2018 | $14.22 | 17.84% | 0.90% | 0.90%(d) | 1.64% | 32% | $108,444 |
Year Ended 2/28/2017 | $12.31 | 20.45% | 0.94% | 0.94%(d) | 2.31% | 36% | $90,114 |
Institutional 2 Class | |||||||
Year Ended 2/28/2021 | $12.87 | 19.26% | 0.84%(c) | 0.84%(c) | 1.55% | 70% | $63,366 |
Year Ended 2/29/2020 | $11.89 | 0.68% | 0.81%(c) | 0.81%(c) | 2.48% | 37% | $1,008 |
Year Ended 2/28/2019 | $13.00 | 0.72% | 0.83%(c) | 0.83%(c) | 1.86% | 33% | $626 |
Year Ended 2/28/2018 | $14.19 | 17.90% | 0.83% | 0.83% | 1.65% | 32% | $411 |
Year Ended 2/28/2017 | $12.29 | 20.64% | 0.82% | 0.82% | 2.37% | 36% | $301 |
Columbia Global Equity Value Fund | Annual Report 2021 | 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 | |||||||
Year Ended 2/28/2021 | $11.55 | 0.19 | 1.87 | 2.06 | (0.25) | (0.90) | (1.15) |
Year Ended 2/29/2020 | $12.66 | 0.32 | (0.16) | 0.16 | (0.32) | (0.95) | (1.27) |
Year Ended 2/28/2019 | $13.85 | 0.25 | (0.20) | 0.05 | (0.21) | (1.03) | (1.24) |
Year Ended 2/28/2018 | $12.00 | 0.17 | 1.97 | 2.14 | (0.29) | — | (0.29) |
Year Ended 2/28/2017 | $10.24 | 0.26 | 1.82 | 2.08 | (0.32) | — | (0.32) |
Class R | |||||||
Year Ended 2/28/2021 | $11.85 | 0.13 | 1.92 | 2.05 | (0.17) | (0.90) | (1.07) |
Year Ended 2/29/2020 | $12.96 | 0.26 | (0.18) | 0.08 | (0.24) | (0.95) | (1.19) |
Year Ended 2/28/2019 | $14.17 | 0.18 | (0.22) | (0.04) | (0.14) | (1.03) | (1.17) |
Year Ended 2/28/2018 | $12.27 | 0.15 | 1.95 | 2.10 | (0.20) | — | (0.20) |
Year Ended 2/28/2017 | $10.46 | 0.21 | 1.84 | 2.05 | (0.24) | — | (0.24) |
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) | Ratios include interest on collateral expense which is less than 0.01%. |
(d) | The benefits derived from expense reductions had an impact of less than 0.01%. |
(e) | Rounds to zero. |
18 | Columbia Global Equity Value Fund | Annual Report 2021 |
Net asset value, end of period | Total return | Total gross expense ratio to average net assets(a) | Total net expense ratio to average net assets(a),(b) | Net investment income ratio to average net assets | Portfolio turnover | Net assets, end of period (000’s) | |
Institutional 3 Class | |||||||
Year Ended 2/28/2021 | $12.46 | 19.29% | 0.78%(c) | 0.78%(c) | 1.65% | 70% | $8,071 |
Year Ended 2/29/2020 | $11.55 | 0.75% | 0.77%(c) | 0.77%(c) | 2.56% | 37% | $809 |
Year Ended 2/28/2019 | $12.66 | 0.78% | 0.78%(c) | 0.78%(c) | 1.96% | 33% | $578 |
Year Ended 2/28/2018 | $13.85 | 17.96% | 0.78% | 0.78% | 1.26% | 32% | $361 |
Year Ended 2/28/2017 | $12.00 | 20.61% | 0.77% | 0.77% | 2.29% | 36% | $12 |
Class R | |||||||
Year Ended 2/28/2021 | $12.83 | 18.59% | 1.40%(c) | 1.40%(c),(d) | 1.08% | 70% | $7,825 |
Year Ended 2/29/2020 | $11.85 | 0.11% | 1.38%(c) | 1.38%(c),(d) | 1.96% | 37% | $784 |
Year Ended 2/28/2019 | $12.96 | 0.14% | 1.40%(c) | 1.40%(c),(d) | 1.37% | 33% | $1,187 |
Year Ended 2/28/2018 | $14.17 | 17.25% | 1.40% | 1.40%(d) | 1.13% | 32% | $1,150 |
Year Ended 2/28/2017 | $12.27 | 19.82% | 1.44% | 1.44%(d) | 1.82% | 36% | $845 |
Columbia Global Equity Value Fund | Annual Report 2021 | 19 |
February 28, 2021
20 | Columbia Global Equity Value Fund | Annual Report 2021 |
February 28, 2021
Columbia Global Equity Value Fund | Annual Report 2021 | 21 |
February 28, 2021
22 | Columbia Global Equity Value Fund | Annual Report 2021 |
February 28, 2021
Asset derivatives | ||
Risk exposure category | Statement of assets and liabilities location | Fair value ($) |
Foreign exchange risk | Unrealized appreciation on forward foreign currency exchange contracts | 521,302 |
Columbia Global Equity Value Fund | Annual Report 2021 | 23 |
February 28, 2021
Liability derivatives | ||
Risk exposure category | Statement of assets and liabilities location | Fair value ($) |
Foreign exchange risk | Unrealized depreciation on forward foreign currency exchange contracts | 180,100 |
Amount of realized gain (loss) on derivatives recognized in income | ||||
Risk exposure category | Forward foreign currency exchange contracts ($) | Options contracts written ($) | Options contracts purchased ($) | Total ($) |
Equity risk | — | 92,820 | (486,893) | (394,073) |
Foreign exchange risk | (2,157,382) | — | — | (2,157,382) |
Total | (2,157,382) | 92,820 | (486,893) | (2,551,455) |
Change in unrealized appreciation (depreciation) on derivatives recognized in income | |
Risk exposure category | Forward foreign currency exchange contracts ($) |
Foreign exchange risk | 628,195 |
Derivative instrument | Average value ($)* |
Options contracts — purchased | 9,340 |
Options contracts — written | (22,249) |
Derivative instrument | Average unrealized appreciation ($)** | Average unrealized depreciation ($)** |
Forward foreign currency exchange contracts | 316,628 | (317,481) |
* | Based on the ending daily outstanding amounts for the year ended February 28, 2021. |
** | Based on the ending quarterly outstanding amounts for the year ended February 28, 2021. |
24 | Columbia Global Equity Value Fund | Annual Report 2021 |
February 28, 2021
Citi ($) | Morgan Stanley ($) | UBS ($) | Total ($) | |
Assets | ||||
Forward foreign currency exchange contracts | - | 521,302 | - | 521,302 |
Liabilities | ||||
Forward foreign currency exchange contracts | 5,656 | 170,666 | 3,778 | 180,100 |
Total liabilities | 5,656 | 170,666 | 3,778 | 180,100 |
Total financial and derivative net assets | (5,656) | 350,636 | (3,778) | 341,202 |
Total collateral received (pledged) (a) | - | - | - | - |
Net amount (b) | (5,656) | 350,636 | (3,778) | 341,202 |
(a) | In some instances, the actual collateral received and/or pledged may be more than the amount shown due to overcollateralization. |
(b) | Represents the net amount due from/(to) counterparties in the event of default. |
Columbia Global Equity Value Fund | Annual Report 2021 | 25 |
February 28, 2021
26 | Columbia Global Equity Value Fund | Annual Report 2021 |
February 28, 2021
Effective rate (%) | |
Class A | 0.14 |
Advisor Class | 0.14 |
Class C | 0.13 |
Institutional Class | 0.14 |
Institutional 2 Class | 0.06 |
Institutional 3 Class | 0.01 |
Class R | 0.13 |
Columbia Global Equity Value Fund | Annual Report 2021 | 27 |
February 28, 2021
Front End (%) | CDSC (%) | Amount ($) | |
Class A | 5.75 | 0.50 - 1.00(a) | 74,434 |
Class C | — | 1.00(b) | 446 |
(a) | This charge is imposed on certain investments of between $1 million and $50 million redeemed within 18 months after purchase, as follows: 1.00% if redeemed within 12 months after purchase, and 0.50% if redeemed more than 12, but less than 18, months after purchase, with certain limited exceptions. |
(b) | This charge applies to redemptions within 12 months after purchase, with certain limited exceptions. |
July 1, 2020 through June 30, 2021 | Prior to July 1, 2020 | |
Class A | 1.20% | 1.20% |
Advisor Class | 0.95 | 0.95 |
Class C | 1.95 | 1.95 |
Institutional Class | 0.95 | 0.95 |
Institutional 2 Class | 0.87 | 0.89 |
Institutional 3 Class | 0.82 | 0.84 |
Class R | 1.45 | 1.45 |
28 | Columbia Global Equity Value Fund | Annual Report 2021 |
February 28, 2021
Undistributed net investment income ($) | Accumulated net realized (loss) ($) | Paid in capital ($) |
(1,242,182) | (40,220,042) | 41,462,224 |
Year Ended February 28, 2021 | Year Ended February 29, 2020 | ||||
Ordinary income ($) | Long-term capital gains ($) | Total ($) | Ordinary income ($) | Long-term capital gains ($) | Total ($) |
13,187,407 | 56,854,405 | 70,041,812 | 15,682,474 | 53,062,946 | 68,745,420 |
Undistributed ordinary income ($) | Undistributed long-term capital gains ($) | Capital loss carryforwards ($) | Net unrealized appreciation ($) |
5,591,817 | 51,069,959 | (53,635,653) | 115,564,475 |
Federal tax cost ($) | Gross unrealized appreciation ($) | Gross unrealized (depreciation) ($) | Net unrealized appreciation ($) |
828,207,375 | 154,093,313 | (38,528,838) | 115,564,475 |
No expiration short-term ($) | No expiration long-term ($) | Total ($) | Utilized ($) |
(8,181,662) | (45,453,991) | (53,635,653) | 3,521,653 |
Columbia Global Equity Value Fund | Annual Report 2021 | 29 |
February 28, 2021
30 | Columbia Global Equity Value Fund | Annual Report 2021 |
February 28, 2021
Shares | |
Class A | 9,003,139 |
Advisor Class | 307,950 |
Class C | 1,440,436 |
Institutional Class | 5,333,384 |
Institutional 2 Class | 1,285,313 |
Institutional 3 Class | 705,797 |
Class R | 712,452 |
Columbia Global Equity Value Fund | Annual Report 2021 | 31 |
February 28, 2021
($) | |
Net investment income | 16,471,000 |
Net realized gain | 51,882,000 |
Net change in unrealized appreciation | 71,377,000 |
Net increase in net assets from operations | 139,730,000 |
32 | Columbia Global Equity Value Fund | Annual Report 2021 |
February 28, 2021
Columbia Global Equity Value Fund | Annual Report 2021 | 33 |
February 28, 2021
34 | Columbia Global Equity Value Fund | Annual Report 2021 |
Columbia Global Equity Value Fund | Annual Report 2021 | 35 |
Qualified dividend income | Dividends received deduction | Capital gain dividend |
100.00% | 74.41% | $88,250,976 |
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex* overseen | Other directorships held by Trustee during the past five years |
George S. Batejan c/o Columbia Management Investment Advisers, LLC 225 Franklin Street Mail Drop BX32 05228 Boston, MA 02110 1953 | Trustee since 2017 | Executive Vice President, Global Head of Technology and Operations, Janus Capital Group, Inc., 2010-2016 | 172 | Former Chairman of the Board, NICSA (National Investment Company Services Association) (Executive Committee, Nominating Committee and Governance Committee), 2014-2016; former Director, Intech Investment Management, 2011-2016; former Board Member, Metro Denver Chamber of Commerce, 2015-2016; former Advisory Board Member, University of Colorado Business School, 2015-2018 |
36 | Columbia Global Equity Value Fund | Annual Report 2021 |
Independent trustees (continued)
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex* overseen | Other directorships held by Trustee during the past five years |
Kathleen Blatz c/o Columbia Management Investment Advisers, LLC 225 Franklin Street Mail Drop BX32 05228 Boston, MA 02110 1954 | Trustee since 2006 | Attorney; specializing in arbitration and mediation; Chief Justice, Minnesota Supreme Court, 1998-2006; Associate Justice, Minnesota Supreme Court, 1996-1998; Fourth Judicial District Court Judge, Hennepin County, 1994-1996; Attorney in private practice and public service, 1984-1993; State Representative, Minnesota House of Representatives, 1979-1993, which included service on the Tax and Financial Institutions and Insurance Committees; Member and Interim Chair, Minnesota Sports Facilities Authority, January 2017-July 2017; Interim President and Chief Executive Officer, Blue Cross and Blue Shield of Minnesota (health care insurance), February-July 2018 | 172 | Trustee, BlueCross BlueShield of Minnesota since 2009 (Chair of the Business Development Committee - 2014-2017; Chair of the Governance Committee, 2017-2019); former Member and Chair of the Board, Minnesota Sports Facilities Authority, January 2017-July 2017; Director, Robina Foundation, 2009-2020 (Chair, 2014-2020) |
Pamela G. Carlton c/o Columbia Management Investment Advisers, LLC 225 Franklin Street Mail Drop BX32 05228 Boston, MA 02110 1954 | Trustee since 2007 | President, Springboard — Partners in Cross Cultural Leadership (consulting company) since 2003; Managing Director of US Equity Research, JP Morgan Chase, 1999-2003; Director of US Equity Research, Chase Asset Management, 1996-1999; Co-Director Latin America Research, 1993-1996, COO Global Research, 1992-1996, Co-Director of US Research, 1991-1992, Investment Banker, 1982-1991, Morgan Stanley; Attorney at Cleary Gottlieb Steen & Hamilton LLP, 1980-1982 | 172 | Trustee, New York Presbyterian Hospital Board (Executive Committee and Chair of People Committee) since 1996; Director, DR Bank (Audit Committee) since 2017; Director, Evercore Inc. (Audit Committee, Nominating and Governance Committee) since 2019 |
Janet Langford Carrig c/o Columbia Management Investment Advisers, LLC 225 Franklin Street Mail Drop BX32 05228 Boston, MA 02110 1957 | Trustee since 1996 | Senior Vice President, General Counsel and Corporate Secretary, ConocoPhillips (independent energy company), September 2007-October 2018 | 170 | Director, EQT Corporation (natural gas producer) since 2019; Director, Whiting Petroleum Corporation (independent oil and gas company) since 2020 |
J. Kevin Connaughton c/o Columbia Management Investment Advisers, LLC 225 Franklin Street Mail Drop BX32 05228 Boston, MA 02110 1964 | Trustee since 2020(a) | Member, FINRA National Adjudicatory Council since January 2020; Adjunct Professor of Finance, Bentley University since January 2018; Managing Director and General Manager of Mutual Fund Products, Columbia Management Investment Advisers, LLC, May 2010-February 2015; President, Columbia Funds, 2008-2015; and senior officer of Columbia Funds and affiliated funds, 2003-2015 | 170 | Director, The Autism Project since March 2015; former Member of the Investment Committee, St. Michael’s College, November 2015-February 2020; former Trustee, St. Michael’s College, June 2017-September 2019; former Trustee, New Century Portfolios, January 2015-December 2017 |
Olive M. Darragh c/o Columbia Management Investment Advisers, LLC 225 Franklin Street Mail Drop BX32 05228 Boston, MA 02110 1962 | Trustee since 2020(a) | Managing Director of Darragh Inc. (strategy and talent management consulting firm) since 2010; Founder and CEO, Zolio, Inc. (investment management talent identification platform) since 2004; Partner, Tudor Investments, 2004-2010; Senior Partner, McKinsey & Company (consulting), 2001-2004 | 170 | Former Director, University of Edinburgh Business School (Member of US Board); former Director, Boston Public Library Foundation |
Columbia Global Equity Value Fund | Annual Report 2021 | 37 |
Independent trustees (continued)
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex* overseen | Other directorships held by Trustee during the past five years |
Patricia M. Flynn c/o Columbia Management Investment Advisers, LLC 225 Franklin Street Mail Drop BX32 05228 Boston, MA 02110 1950 | Trustee since 2004 | Trustee Professor of Economics and Management, Bentley University since 1976 (also teaches and conducts research on corporate governance); Dean, McCallum Graduate School of Business, Bentley University, 1992-2002 | 172 | Trustee, MA Taxpayers Foundation since 1997; Board of Governors, Innovation Institute, MA Technology Collaborative, 2010-2019; Board of Directors, The MA Business Roundtable, 2003-2019 |
Brian J. Gallagher c/o Columbia Management Investment Advisers, LLC 225 Franklin Street Mail Drop BX32 05228 Boston, MA 02110 1954 | Trustee since 2017 | Retired; Partner with Deloitte & Touche LLP and its predecessors, 1977-2016 | 172 | Trustee, Catholic Schools Foundation since 2004 |
Douglas A. Hacker c/o Columbia Management Investment Advisers, LLC 225 Franklin Street Mail Drop BX32 05228 Boston, MA 02110 1955 | Co-Chair since 2021; Chair of CFST I and CFVIT since 2014; Trustee of CFST I and CFVIT since 1996 and CFST, CFST II, CFVST II, Columbia ETF Trust I and Columbia ETF Trust II since 2021 | Independent business executive since May 2006; Executive Vice President – Strategy of United Airlines, December 2002 - May 2006; President of UAL Loyalty Services (airline marketing company), September 2001-December 2002; Executive Vice President and Chief Financial Officer of United Airlines, July 1999-September 2001 | 170 | Director, Spartan Nash Company (food distributor); Director, Aircastle Limited (Chair of Audit Committee) (aircraft leasing); former Director, Nash Finch Company (food distributor), 2005-2013; former Director, SeaCube Container Leasing Ltd. (container leasing), 2010-2013; and former Director, Travelport Worldwide Limited (travel information technology), 2014-2019 |
Nancy T. Lukitsh c/o Columbia Management Investment Advisers, LLC 225 Franklin Street Mail Drop BX32 05228 Boston, MA 02110 1956 | Trustee since 2011 | Senior Vice President, Partner and Director of Marketing, Wellington Management Company, LLP (investment adviser), 1997-2010; Chair, Wellington Management Portfolios (commingled non-U.S. investment pools), 2007 -2010; Director, Wellington Trust Company, NA and other Wellington affiliates, 1997-2010 | 170 | |
David M. Moffett c/o Columbia Management Investment Advisers, LLC 225 Franklin Street Mail Drop BX32 05228 Boston, MA 02110 1952 | Trustee since 2011 | Retired; Consultant to Bridgewater and Associates | 170 | Director, CSX Corporation (transportation suppliers); Director, Genworth Financial, Inc. (financial and insurance products and services); Director, PayPal Holdings Inc. (payment and data processing services); Trustee, University of Oklahoma Foundation; former Director, eBay Inc. (online trading community), 2007-2015; and former Director, CIT Bank, CIT Group Inc. (commercial and consumer finance), 2010-2016 |
38 | Columbia Global Equity Value Fund | Annual Report 2021 |
Independent trustees (continued)
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex* overseen | Other directorships held by Trustee during the past five years |
Catherine James Paglia c/o Columbia Management Investment Advisers, LLC 225 Franklin Street Mail Drop BX32 05228 Boston, MA 02110 1952 | Co-Chair since 2021; Chair of CFST, CFST II, CFVST II, Columbia ETF Trust I and Columbia ETF Trust II since 2020; Trustee of CFST, CFST II and CFVST II since 2004 and CFST I and CFVIT since 2021 | Director, Enterprise Asset Management, Inc. (private real estate and asset management company) since September 1998; Managing Director and Partner, Interlaken Capital, Inc., 1989-1997; Vice President, 1982-1985, Principal, 1985-1987, Managing Director, 1987-1989, Morgan Stanley; Vice President, Investment Banking, 1980-1982, Associate, Investment Banking, 1976-1980, Dean Witter Reynolds, Inc. | 172 | Director, Valmont Industries, Inc. (irrigation systems manufacturer) since 2012; Trustee, Carleton College (on the Investment Committee); Trustee, Carnegie Endowment for International Peace (on the Investment Committee) |
Anthony M. Santomero c/o Columbia Management Investment Advisers, LLC 225 Franklin Street Mail Drop BX32 05228 Boston, MA 02110 1946 | Trustee since 2008 | Richard K. Mellon Professor Emeritus of Finance, The Wharton School, University of Pennsylvania, since 2002; Senior Advisor, McKinsey & Company (consulting), 2006-2008; President, Federal Reserve Bank of Philadelphia, 2000-2006; Professor of Finance, The Wharton School, University of Pennsylvania, 1972-2002 | 172 | Trustee, Penn Mutual Life Insurance Company since March 2008; Director, RenaissanceRe Holdings Ltd. since May 2008; former Director, Citigroup Inc. and Citibank, N.A., 2009-2019; former Trustee, BofA Funds Series Trust (11 funds), 2008-2011 |
Minor M. Shaw c/o Columbia Management Investment Advisers, LLC 225 Franklin Street Mail Drop BX32 05228 Boston, MA 02110 1947 | Trustee since 2003 | President, Micco LLC (private investments) since 2011; President, Micco Corp. (family investment business), 1998-2011 | 172 | Director, BlueCross BlueShield of South Carolina (Chair of Compensation Committee) since April 2008; Trustee, Hollingsworth Funds (on the Investment Committee) since 2016 (previously Board Chair from 2016-2019); Former Advisory Board member, Duke Energy Corp., 2016-2020; Chair of the Duke Endowment; Chair of Greenville – Spartanburg Airport Commission; former Trustee, BofA Funds Series Trust (11 funds), 2003-2011; former Director, Piedmont Natural Gas, 2004-2016; former Director, National Association of Corporate Directors, Carolinas Chapter, 2013-2018; Chair, Daniel-Mickel Foundation |
Columbia Global Equity Value Fund | Annual Report 2021 | 39 |
Independent trustees (continued)
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex* overseen | Other directorships held by Trustee during the past five years |
Natalie A. Trunow c/o Columbia Management Investment Advisers, LLC 225 Franklin Street Mail Drop BX32 05228 Boston, MA 02110 1967 | Trustee since 2020(a) | Chief Executive Officer, Millennial Portfolio Solutions LLC (asset management and consulting services) since January 2016; Non-executive Member of the Investment Committee, Sarona Asset Management Inc. (private equity firm) since September 2019; Advisor, Horizon Investments (asset management and consulting services) since August 2018; Advisor, Paradigm Asset Management since November 2016; Director of Investments, Casey Family Programs, April 2016-September 2016; Senior Vice President and Chief Investment Officer, Calvert Investments, August 2008 - January 2016; Section Head and Portfolio Manager, General Motors Asset Management, June 1997-August 2008 | 170 | Director, Health Services for Children with Special Needs, Inc.; Director, Consumer Credit Counseling Services (formerly Guidewell Financial Solutions); Independent Director, Investment Committee, Sarona Asset Management |
Sandra Yeager c/o Columbia Management Investment Advisers, LLC 225 Franklin Street Mail Drop BX32 05228 Boston, MA 02110 1964 | Trustee since 2017 | Retired; President and founder, Hanoverian Capital, LLC (SEC registered investment advisor firm), 2008-2016; Managing Director, DuPont Capital, 2006-2008; Managing Director, Morgan Stanley Investment Management, 2004-2006; Senior Vice President, Alliance Bernstein, 1990-2004 | 172 | Director, NAPE Education Foundation, October 2016-October 2020 |
* | The term “Columbia Funds Complex” as used herein includes Columbia Seligman Premium Technology Growth Fund, Tri-Continental Corporation and each series of Columbia Fund Series Trust (CFST), Columbia Funds Series Trust I (CFST I), Columbia Funds Series Trust II (CFST II), Columbia ETF Trust I, Columbia ETF Trust II, Columbia Funds Variable Insurance Trust (CFVIT) and Columbia Funds Variable Series Trust II (CFVST II). Messrs. Batejan, Gallagher, Petersen and Santomero and Mses. Blatz, Carlton, Flynn, Paglia, Shaw and Yeager serve as a director of Columbia Seligman Premium Technology Growth Fund and Tri-Continental Corporation. |
(a) | J. Kevin Connaughton was appointed a consultant to the Independent Trustees of CFST I and CFVIT effective March 1, 2016. Natalie A. Trunow was appointed a consultant to the Independent Trustees of CFST I and CFVIT effective September 1, 2016. Olive M. Darragh was appointed a consultant to the Independent Trustees of CFST I and CFVIT effective June 10, 2019. Shareholders of the Funds elected Mr. Connaughton and Mses. Darragh and Trunow as Trustees of CFST I, effective January 1, 2021, and of CFVIT, effective July 1, 2020. |
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during the past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex overseen | Other directorships held by Trustee during the past five years |
Christopher O. Petersen c/o Columbia Management Investment Advisers, LLC 5228 Ameriprise Financial Center Minneapolis, MN 55474 1970 | Trustee since 2020(a) | Vice President and Lead Chief Counsel, Ameriprise Financial, Inc. since January 2015 (previously Vice President and Chief Counsel, January 2010-December 2014); officer of Columbia Funds and affiliated funds since 2007 | 172 | None |
* | Interested person (as defined under the 1940 Act) by reason of being an officer, director, security holder and/or employee of the Investment Manager or Ameriprise Financial. |
(a) | Mr. Petersen serves as the President and Principal Executive Officer of the Columbia Funds (since 2015). |
40 | Columbia Global Equity Value Fund | Annual Report 2021 |
The Board has appointed officers who are responsible for day-to-day business decisions based on policies it has established. The officers serve at the pleasure of the Board. The following table provides basic information about the Officers of the Fund as of the printing of this report, including principal occupations during the past five years, although their specific titles may have varied over the period. In addition to Mr. Petersen, who is the President and Principal Executive Officer, the Fund’s other officers are:
Name, address and year of birth | Position and year first appointed to position for any Fund in the Columbia Funds Complex or a predecessor thereof | Principal occupation(s) during past five years |
Michael G. Clarke 225 Franklin Street Boston, MA 02110 1969 | Chief Financial Officer and Principal Financial Officer (2009) and Senior Vice President (2019) | Vice President, Head of North American Operations, and Co-Head of Global Operations, Columbia Management Investment Advisers, LLC, since June 2019 (previously Vice President – Accounting and Tax, May 2010 – May 2019); senior officer of Columbia Funds and affiliated funds since 2002. |
Joseph Beranek 5890 Ameriprise Financial Center Minneapolis, MN 55474 1965 | Treasurer and Chief Accounting Officer (Principal Accounting Officer) (2019) and Principal Financial Officer (2020), CFST, CFST I, CFST II, CFVIT and CFVST II; Assistant Treasurer, Columbia ETF Trust I and Columbia ETF Trust II | Vice President – Mutual Fund Accounting and Financial Reporting, Columbia Management Investment Advisers, LLC, since December 2018 and March 2017, respectively (previously Vice President – Pricing and Corporate Actions, May 2010 - March 2017). |
Marybeth Pilat 225 Franklin Street Boston, MA 02110 1968 | Treasurer and Chief Accounting Officer (Principal Accounting Officer) and Principal Financial Officer (2020) for Columbia ETF Trust I and Columbia ETF Trust II; Assistant Treasurer, CFST, CFST I, CFST II, CFVIT and CFVST II | Vice President – Product Pricing and Administration, Columbia Management Investment Advisers, LLC, since May 2017; Director - Fund Administration, Calvert Investments, August 2015 – March 2017; Vice President - Fund Administration, Legg Mason, May 2015 - July 2015; Vice President - Fund Administration, Columbia Management Investment Advisers, LLC, May 2010 - April 2015. |
William F. Truscott 225 Franklin Street Boston, MA 02110 1960 | Senior Vice President (2001) | Formerly, Trustee of Columbia Funds Complex until January 1, 2021; Chief Executive Officer, Global Asset Management, Ameriprise Financial, Inc. since September 2012; Chairman of the Board and President, Columbia Management Investment Advisers, LLC since July 2004 and February 2012, respectively; Chairman of the Board and Chief Executive Officer, Columbia Management Investment Distributors, Inc. since November 2008 and February 2012, respectively; Chairman of the Board and Director, Threadneedle Asset Management Holdings, Sàrl since March 2013 and December 2008, respectively; senior executive of various entities affiliated with Columbia Threadneedle. |
Paul B. Goucher 485 Lexington Avenue New York, NY 10017 1968 | Senior Vice President (2011) and Assistant Secretary (2008) | Senior Vice President and Assistant General Counsel, Ameriprise Financial, Inc. since January 2017 (previously Vice President and Lead Chief Counsel, November 2008 - January 2017 and January 2013 - January 2017, respectively); Vice President, Chief Legal Officer and Assistant Secretary, Columbia Management Investment Advisers, LLC since March 2015 (previously Vice President and Assistant Secretary, May 2010 – March 2015). |
Thomas P. McGuire 225 Franklin Street Boston, MA 02110 1972 | Senior Vice President and Chief Compliance Officer (2012) | Vice President – Asset Management Compliance, Ameriprise Financial, Inc., since May 2010; Chief Compliance Officer, Columbia Acorn/Wanger Funds since December 2015; Chief Compliance Officer, Ameriprise Certificate Company September 2010 – September 2020. |
Colin Moore 225 Franklin Street Boston, MA 02110 1958 | Senior Vice President (2010) | Executive Vice President and Global Chief Investment Officer, Ameriprise Financial, Inc., since July 2013; Executive Vice President and Global Chief Investment Officer, Columbia Management Investment Advisers, LLC since July 2013. |
Columbia Global Equity Value Fund | Annual Report 2021 | 41 |
Fund officers (continued)
Name, address and year of birth | Position and year first appointed to position for any Fund in the Columbia Funds Complex or a predecessor thereof | Principal occupation(s) during past five years |
Ryan C. Larrenaga 225 Franklin Street Boston, MA 02110 1970 | Senior Vice President (2017), Chief Legal Officer (2017), and Secretary (2015) | Vice President and Chief Counsel, Ameriprise Financial, Inc. since August 2018 (previously Vice President and Group Counsel, August 2011 - August 2018); Chief Legal Officer, Columbia Acorn/Wanger Funds, since September 2020; officer of Columbia Funds and affiliated funds since 2005. |
Daniel J. Beckman 225 Franklin Street Boston, MA 02110 1962 | Senior Vice President (2020) | Vice President – Head of North America Product, Columbia Management Investment Advisers, LLC (since April 2015). |
Michael E. DeFao 225 Franklin Street Boston, MA 02110 1968 | Vice President (2011) and Assistant Secretary (2010) | Vice President and Chief Counsel, Ameriprise Financial, Inc. since May 2010. |
Lyn Kephart-Strong 5228 Ameriprise Financial Center Minneapolis, MN 55474 1960 | Vice President (2015) | President, Columbia Management Investment Services Corp. since October 2014; Vice President & Resolution Officer, Ameriprise Trust Company since August 2009. |
Trustee | Votes for | Votes withheld | Abstentions |
George S. Batejan | 39,328,043,938 | 454,200,292 | 0 |
Kathleen Blatz | 39,337,937,974 | 444,306,256 | 0 |
Pamela G. Carlton | 39,344,288,391 | 437,955,839 | 0 |
Janet Langford Carrig | 39,329,254,400 | 452,989,830 | 0 |
J. Kevin Connaughton | 39,252,004,295 | 530,239,934 | 0 |
Olive M. Darragh | 39,268,887,557 | 513,356,673 | 0 |
Patricia M. Flynn | 39,330,975,954 | 451,268,276 | 0 |
Brian J. Gallagher | 39,331,403,614 | 450,840,615 | 0 |
Douglas A. Hacker | 39,242,844,166 | 539,400,064 | 0 |
Nancy T. Lukitsh | 39,349,165,585 | 433,078,645 | 0 |
David M. Moffett | 39,309,904,442 | 472,339,788 | 0 |
Catherine James Paglia | 39,328,739,370 | 453,504,860 | 0 |
Anthony M. Santomero | 39,306,518,896 | 475,725,334 | 0 |
Minor M. Shaw | 39,303,595,918 | 478,648,312 | 0 |
Natalie A. Trunow | 39,352,416,062 | 429,828,167 | 0 |
Sandra Yeager | 39,356,131,780 | 426,112,449 | 0 |
Christopher O. Petersen | 39,337,621,211 | 444,623,019 | 0 |
42 | Columbia Global Equity Value Fund | Annual Report 2021 |
columbiathreadneedleus.com/investor/. The Fund is distributed by Columbia Management Investment Distributors, Inc., member FINRA, and managed by Columbia Management Investment Advisers, LLC.
Item 2. Code of Ethics.
(a)The registrant has adopted a code of ethics that applies to the registrant's principal executive officer, principal financial officer, principal accounting officer or controller, or persons performing similar functions, regardless of whether these individuals are employed by the registrant or a third party.
(b)During the period covered by this report, there were not any amendments to a provision of the code of ethics that applies to the registrant's principal executive officer, principal financial officer, principal accounting officer or controller, or persons performing similar functions, regardless of whether these individuals are employed by the registrant or a third party, and that relates to any element of the code of ethics definition enumerated in paragraph (b) of this Item.
(c)During the period covered by this report, there were no waivers, including any implicit waivers, from a provision of the code of ethics to the registrant's principal executive officer, principal financial officer, principal accounting officer or controller, or persons performing similar functions, regardless of whether these individuals are employed by the registrant or a third party that relates to one or more of the items set forth in paragraph (b) of this Item.
Item 3. Audit Committee Financial Expert.
The registrant's Board of Trustees has determined that David M. Moffett, Brian J. Gallagher, J. Kevin Connaughton, and Sandra L. Yeager, each of whom are members of the registrant's Board of Trustees and Audit Committee, each qualify as an audit committee financial expert. Mr. Moffett, Mr. Gallagher, Mr. Connaughton, and Ms. Yeager are each independent trustees, as defined in paragraph (a)(2) of this item's instructions.
Item 4. Principal Accountant Fees and Services.
Fee information below is disclosed for the two series of the registrant whose reports to stockholders are included in this annual filing.
(a)Audit Fees. Aggregate Audit Fees billed by the principal accountant for professional services rendered during the fiscal years ended February 28, 2021 and February 29, 2020 are approximately as follows:
20212020
$59,000 $78,000
Audit Fees include amounts related to the audit of the registrant's annual financial statements or services that are normally provided by the accountant in connection with statutory and regulatory filings or engagements for those fiscal years.
(b)Audit-Related Fees. Aggregate Audit-Related Fees billed to the registrant by the principal accountant for professional services rendered during the fiscal years ended February 28, 2021 and February 29, 2020 are approximately as follows:
20212020
$6,500 $4,200
Audit-Related Fees include amounts for assurance and related services by the principal accountant that are reasonably related to the performance of the audit of the registrant's financial statements and are not reported in Audit Fees above.
During the fiscal years ended February 28, 2021 and February 29, 2020, there were no Audit-Related Fees billed by the registrant's principal accountant to the registrant's investment adviser (not including any sub-adviser whose role is primarily portfolio management and is subcontracted with or overseen by another investment adviser) and any entity controlling, controlled by, or under common control with the adviser that provides ongoing services to the registrant for an engagement that related directly to the operations and financial reporting of the registrant.
(c)Tax Fees. Aggregate Tax Fees billed by the principal accountant to the registrant for professional services rendered during the fiscal years ended February 28, 2021 and February 29, 2020 are approximately as follows:
20212020
$4,200 $2,300
Tax Fees include amounts for the review of annual tax returns, the review of required shareholder distribution calculations and typically include amounts for professional services by the principal accountant for tax compliance, tax advice and tax planning.
During the fiscal years ended February 28, 2021 and February 29, 2020, there were no Tax Fees billed by the registrant's principal accountant to the registrant's investment adviser (not including any sub-adviser whose role is primarily portfolio management and is subcontracted with or overseen by another investment adviser) and any entity controlling, controlled by, or under common control with the adviser that provides ongoing services to the registrant for an engagement that related directly to the operations and financial reporting of the registrant.
(d)All Other Fees. Aggregate All Other Fees billed by the principal accountant to the registrant for professional services rendered during the fiscal years ended February 28,
2021 and February 29, 2020 are approximately as follows:
2021 | 2020 |
$0 | $0 |
All Other Fees include amounts for products and services provided by the principal accountant, other than the services reported in paragraphs (a) through (c) above.
Aggregate All Other Fees billed by the registrant's principal accountant to the registrant's investment adviser (not including any sub-adviser whose role is primarily portfolio management and is subcontracted with or overseen by another investment adviser) and any entity controlling, controlled by, or under common control with the adviser that provides ongoing services to the registrant for an engagement that related directly to the operations and financial reporting of the registrant during the fiscal years ended February 28, 2021 and February 29, 2020 are approximately as follows:
20212020
$524,000 $520,000
In fiscal years 2021 and 2020, All Other Fees primarily consists of fees billed for internal control examinations of the registrant's transfer agent and investment adviser.
(e)(1) Audit Committee Pre-Approval Policies and Procedures
The registrant's Audit Committee is required to pre-approve the engagement of the
registrant's independent auditors to provide audit and non-audit services to the registrant and non-audit services to its investment adviser (excluding any sub-adviser whose role is primarily portfolio management and is sub-contracted or overseen by another investment adviser (the "Adviser") or any entity controlling, controlled by or under common control with the Adviser that provides ongoing services to the Fund (a "Control Affiliate") if the engagement relates directly to the operations and financial reporting of the registrant.
The Audit Committee has adopted a Policy for Engagement of Independent Auditors for Audit and Non-Audit Services (the "Policy"). The Policy sets forth the understanding of the Audit Committee regarding the engagement of the registrant's independent accountants to provide (i) audit and permissible audit-related, tax and other services to the registrant ("Fund Services"); (ii) non-audit services to the registrant's Adviser and any Control Affiliates, that relates directly to the operations and financial reporting of a Fund ("Fund-related Adviser Services"); and (iii) certain other audit and non-audit services to the registrant's Adviser and its Control Affiliates. A service will require specific pre-approval by the Audit Committee if it is to be provided by the Fund's independent auditor; provided, however, that pre-approval of non-audit services to the Fund, the Adviser or Control Affiliates may be waived if certain de minimis requirements set forth in the SEC's rules are met.
Under the Policy, the Audit Committee may delegate pre-approval authority to any pre- designated member or members who are independent board members. The member(s) to whom such authority is delegated must report, for informational purposes only, any pre- approval decisions to the Audit Committee at its next regular meeting. The Audit Committee's responsibilities with respect to the pre-approval of services performed by the independent auditor may not be delegated to management.
On an annual basis, at a regularly scheduled Audit Committee meeting, the Fund's Treasurer or other Fund officer shall submit to the Audit Committee a schedule of the types of Fund Services and Fund-related Adviser Services that are subject to specific pre- approval. This schedule will provide a description of each type of service that is subject to specific pre-approval, along with total projected fees for each service. The pre- approval will generally cover a one-year period. The Audit Committee will review and approve the types of services and the projected fees for the next one-year period and may add to, or subtract from, the list of pre-approved services from time to time, based on subsequent determinations. This specific approval acknowledges that the Audit Committee is in agreement with the specific types of services that the independent auditor will be permitted to perform and the projected fees for each service.
The Fund's Treasurer or other Fund officer shall report to the Audit Committee at each of its regular meetings regarding all Fund Services or Fund-related Adviser Services provided since the last such report was rendered, including a description of the services, by category, with forecasted fees for the annual reporting period, proposed changes requiring specific pre-approval and a description of services provided by the independent auditor, by category, with actual fees during the current reporting period.
*****
(e)(2) None, or 0%, of the Audit-Related Fees, Tax Fees and All Other Fees paid by the Fund or affiliated entities relating directly to the operations and financial reporting of the Registrant disclosed above were approved by the audit committee pursuant to paragraphs (c)(7)(i)(C) of Rule 2-01 of Regulation S-X (which permits audit committee approval after the start of the engagement with respect to services other than audit, review or attest services, if certain conditions are satisfied).
(f)Not applicable.
(g)The aggregate non-audit fees billed by the registrant's accountant for services rendered to the registrant, and rendered to the registrant's investment adviser (not including any sub-adviser whose role is primarily portfolio management and is subcontracted with or overseen by another investment adviser), and any entity controlling, controlled by, or under common control with the adviser that provides ongoing services to the registrant for the fiscal years ended February 28, 2021 and February 29, 2020 are approximately as follows:
20212020
$534,700 $526,500
(h)The registrant's Audit Committee of the Board of Directors has considered whether the provision of non-audit services that were rendered to the registrant's adviser (not including any sub-adviser whose role is primarily portfolio management and is subcontracted with or overseen by another investment adviser), and any entity controlling, controlled by, or under common control with the investment adviser that provides ongoing services to the registrant that were not pre-approved pursuant to
paragraph (c)(7)(ii) of Rule 2-01 of Regulation S-X, is compatible with maintaining the principal accountant's independence.
Item 5. Audit Committee of Listed Registrants.
Not applicable.
Item 6. Investments
(a)The registrant's "Schedule I – Investments in securities of unaffiliated issuers" (as set forth in 17 CFR 210.12-12) is included in Item 1 of this Form N-CSR.
(b)Not applicable.
Item 7. Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies.
Not applicable.
Item 8. Portfolio Managers of Closed-End Management Investment Companies.
Not applicable.
Item 9. Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers.
Not applicable.
Item 10. Submission of Matters to a Vote of Security Holders.
There were no material changes to the procedures by which shareholders may recommend nominees to the registrant's board of directors.
Item 11. Controls and Procedures.
(a)The registrant's principal executive officer and principal financial officer, based on their evaluation of the registrant's disclosure controls and procedures as of a date within 90 days of the filing of this report, have concluded that such controls and procedures are adequately designed to ensure that information required to be disclosed by the registrant in Form N-CSR is accumulated and communicated to the registrant's management, including the principal executive officer and principal financial officer, or persons performing similar functions, as appropriate to allow timely decisions regarding required disclosure.
(b)There was no change in the registrant's internal control over financial reporting that occurred during the period covered by this report that has materially affected,
or is reasonably likely to materially affect, the registrant's internal control over financial reporting.
Item 12. Disclosure of Securities Lending Activities for Closed-End Management Investment Companies
Not applicable.
Item 13. Exhibits.
(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 II |
| |
By (Signature and Title) | /s/ Christopher O. Petersen | |||
|
|
| Christopher O. Petersen, President and Principal Executive Officer | |
Date |
| April 22, 2021 |
|
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
By (Signature and Title) | /s/ Christopher O. Petersen | ||
|
| Christopher O. Petersen, President and Principal Executive Officer | |
Date |
| April 22, 2021 |
|
By (Signature and Title) | /s/ Michael G. Clarke | ||
|
| Michael G. Clarke, Chief Financial Officer, Principal Financial Officer | |
|
| and Senior Vice President | |
Date |
| April 22, 2021 |
|
By (Signature and Title) | /s/ Joseph Beranek | ||
|
| Joseph Beranek, Treasurer, Chief Accounting Officer and Principal | |
|
| Financial Officer | |
Date |
| April 22, 2021 |
|