Columbia Integrated Large Cap Growth Fund | ||
Class A: ILGCX | Class Adv: ILGFX | Class C: ILGDX |
Class Inst: ILGGX | Class Inst2: ILGHX | Class Inst3: ILGJX |
Class R: ILGEX | ||
Columbia Integrated Large Cap Value Fund | ||
Class A: ILVBX | Class Adv: ILVEX | Class C: ILVCX |
Class Inst: ILVFX | Class Inst2: ILVGX | Class Inst3: ILVHX |
Class R: ILVDX | ||
Columbia Integrated Small Cap Growth Fund | ||
Class A: ISGDX | Class Adv: ISGLX | Class C: ISGFX |
Class Inst: ISGNX | Class Inst2: ISGOX | Class Inst3: ISGQX |
Class R: ISGHX | ||
Columbia Pyrford International Stock Fund | ||
Class A: PISDX | Class Adv: PISKX | Class C: PISEX |
Class Inst: PISLX | Class Inst2: PISOX | Class Inst3: PISQX |
Class R: PISJX | ||
Columbia Ultra Short Duration Municipal Bond Fund | ||
Class A: USMBX | Class Adv: USMDX | Class Inst: USMEX |
Class Inst3: USMFX |
|
2 |
|
6 |
|
7 |
|
11 |
|
11 |
|
49 |
|
82 |
|
83 |
|
84 |
|
85 |
|
85 |
|
91 |
|
92 |
|
94 |
|
94 |
|
95 |
|
97 |
|
98 |
|
99 |
|
104 |
|
104 |
|
106 |
|
106 |
|
119 |
|
121 |
|
121 |
|
124 |
|
125 |
|
126 |
|
127 |
|
127 |
|
127 |
|
127 |
|
132 |
|
134 |
|
137 |
|
137 |
|
138 |
|
140 |
|
140 |
|
141 |
|
144 |
|
159 |
|
164 |
|
A-1 |
|
B-1 |
|
S-1 |
Statement of Additional Information – January 1, 2024 | 1 |
■ | the organization of the Trust (of which the Funds are series); |
■ | the Funds’ investments; |
■ | the Funds’ investment adviser, investment subadviser(s) (if any) and other service providers, including roles and relationships of Ameriprise Financial and its affiliates, and conflicts of interest; |
■ | the governance of the Funds; |
■ | the Funds’ brokerage practices; |
■ | the share classes offered by the Funds; |
■ | the purchase, redemption and pricing of Fund shares; and |
■ | the application of U.S. federal income tax laws. |
1933 Act | Securities Act of 1933, as amended |
1934 Act | Securities Exchange Act of 1934, as amended |
1940 Act | Investment Company Act of 1940, as amended |
Ameriprise Financial | Ameriprise Financial, Inc. |
Bank of America | Bank of America Corporation |
Board | The Trust’s Board of Trustees |
Statement of Additional Information – January 1, 2024 | 2 |
Business Day | Any day on which the NYSE is open for business. A business day typically ends at the close of regular trading on the NYSE, usually at 4:00 p.m. Eastern time. If the NYSE is scheduled to close early, the business day will be considered to end as of the time of the NYSE’s scheduled close. The Fund will not treat an intraday unscheduled disruption in NYSE trading or an intraday unscheduled closing as a close of regular trading on the NYSE for these purposes and will price its shares as of the regularly scheduled closing time for that day (typically, 4:00 p.m. Eastern time). Notwithstanding the foregoing, the NAV of Fund shares may be determined at such other time or times (in addition to or in lieu of the time set forth above) as the Fund’s Board may approve or ratify. On holidays and other days when the NYSE is closed, the Fund's NAV is not calculated and the Fund does not accept buy or sell orders. However, the value of the Fund's assets may still be affected on such days to the extent that the Fund holds foreign securities that trade on days that foreign securities markets are open. |
CEA | Commodity Exchange Act |
CFST | Columbia Funds Series Trust |
CFST I | Columbia Funds Series Trust I |
CFST II | Columbia Funds Series Trust II |
CFTC | The United States Commodity Futures Trading Commission |
Code | Internal Revenue Code of 1986, as amended |
Codes of Ethics | The codes of ethics adopted by the Funds, Columbia Management Investment Advisers, LLC (the Investment Manager), Columbia Management Investment Distributors, Inc. and/or any sub-adviser, as applicable, pursuant to Rule 17j-1 under the 1940 Act |
Columbia Funds or Columbia Funds Complex | The fund complex, including the Funds, that is comprised of the registered investment companies, including traditional mutual funds, closed-end funds, and ETFs, advised by the Investment Manager or its affiliates |
Columbia Management | Columbia Management Investment Advisers, LLC |
Columbia Threadneedle Investments | The global brand name of the Columbia and Threadneedle group of companies |
Custodian | JPMorgan Chase Bank, N.A. |
DBRS | DBRS Morningstar |
Distribution Agreement | The Distribution Agreement between the Trust, on behalf of its Funds, and the Distributor |
Distribution Plan(s) | One or more of the plans adopted by the Board pursuant to Rule 12b-1 under the 1940 Act for the distribution of the Funds’ shares |
Distributor | Columbia Management Investment Distributors, Inc. |
FDIC | Federal Deposit Insurance Corporation |
FHLMC | The Federal Home Loan Mortgage Corporation |
Fitch | Fitch Ratings, Inc. |
FNMA | Federal National Mortgage Association |
The Fund(s) or a Fund | One or more of the open-end management investment companies listed on the front cover of this SAI |
GICS | The Global Industry Classification Standard (GICS®). GICS was developed by and/or is the exclusive property of MSCI, Inc. (MSCI®) and S&P Global Market Intelligence Inc. (S&P Global Market Intelligence). GICS is a service mark of MSCI and S&P Global Market Intelligence and has been licensed for use by the Investment Manager. Neither GICS, MSCI, nor S&P Global Market Intelligence are affiliated with the Funds, the Investment Manager or any Columbia entity. |
GNMA | Government National Mortgage Association |
Independent Trustees | The Trustees of the Board who are not “interested persons” (as defined in the 1940 Act) of the Funds |
Statement of Additional Information – January 1, 2024 | 3 |
Interested Trustee | A Trustee of the Board who is currently deemed to be an “interested person” (as defined in the 1940 Act) of the Funds |
Investment Manager | Columbia Management Investment Advisers, LLC |
IRS | United States Internal Revenue Service |
KBRA | Kroll Bond Rating Agency |
LIBOR | London Inter-bank Offered Rate* |
Management Agreement | The Management Agreements, as amended, if applicable, between the Trust, on behalf of the Funds, and the Investment Manager |
Moody’s | Moody’s Investors Service, Inc. |
Multi-Manager Strategies Funds | Multi-Manager Alternative Strategies Fund, Multi-Manager Directional Alternative Strategies Fund, Multi-Manager Growth Strategies Fund, Multi-Manager International Equity Strategies Fund, Multi-Manager Small Cap Equity Strategies Fund, Multi-Manager Total Return Bond Strategies Fund and Multi-Manager Value Strategies Fund. Shares of the Multi-Manager Strategies Funds are offered only through certain wrap fee programs sponsored and/or managed by Ameriprise Financial, Inc. or its affiliates. |
NASDAQ | National Association of Securities Dealers Automated Quotations system |
NAV | Net asset value per share of a Fund |
NRSRO | Nationally recognized statistical ratings organization (such as, for example, Moody’s, Fitch or S&P) |
NSCC | National Securities Clearing Corporation |
NYSE | New York Stock Exchange |
The Predecessor Fund(s) or a Predecessor Fund | BMO Large-Cap Growth Fund as predecessor to Columbia Integrated Large Cap Growth Fund, BMO Large-Cap Value Fund as predecessor to Columbia Integrated Large Cap Value Fund, BMO Small-Cap Growth Fund as predecessor to Columbia Integrated Small Cap Growth Fund, BMO Pyrford International Stock Fund as predecessor to Columbia Pyrford International Stock Fund and BMO Ultra Short Tax-Free Fund as predecessor to Columbia Ultra Short Duration Municipal Bond Fund |
PwC | PricewaterhouseCoopers LLP |
Pyrford | Pyrford International Ltd |
REIT | Real estate investment trust |
REMIC | Real estate mortgage investment conduit |
Reorganization Date | The date of the applicable Reorganization |
RIC | A “regulated investment company,” as such term is used in the Code |
The Reorganization(s) or a Reorganization | The reorganization of BMO Large-Cap Growth Fund, a series of BMO Funds, Inc., into Columbia Integrated Large Cap Growth Fund, a series of Columbia Funds Series Trust II on January 21, 2022; the reorganization of BMO Large-Cap Value Fund, a series of BMO Funds, Inc., into Columbia Integrated Large Cap Value Fund, a series of Columbia Funds Series Trust II on January 21, 2022; the reorganization of BMO Dividend Income Fund a series of BMO Funds, Inc., into Columbia Integrated Large Cap Value Fund, a series of Columbia Funds Series Trust II on January 21, 2022; the reorganization of BMO Low Volatility Equity Fund, a series of BMO Funds, Inc., into Columbia Integrated Large Cap Value Fund, a series of Columbia Funds Series Trust II on January 21, 2022; the reorganization of BMO Pyrford International Stock Fund, a series of BMO Funds, Inc., into Columbia Pyrford International Stock Fund, a series of Columbia Funds Series Trust II on December 10, 2021; the reorganization of BMO Small-Cap Growth Fund, a series of BMO Funds, Inc., into Columbia Integrated Small Cap Growth Fund, a series of Columbia Funds Series Trust II on January 21, 2022, and the reorganization of BMO Ultra Short Tax-Free Fund, a series of BMO Funds, Inc., into Columbia Ultra Short Duration Municipal Bond Fund, a series of Columbia Funds Series Trust II on January 21, 2022 |
Statement of Additional Information – January 1, 2024 | 4 |
S&P | S&P Global Ratings, a division of S&P Global Inc. (“Standard & Poor’s” and “S&P” are trademarks of S&P Global Inc. and have been licensed for use by the Investment Manager. The Columbia Funds are not sponsored, endorsed, sold or promoted by S&P Global Ratings and S&P Global Ratings makes no representation regarding the advisability of investing in the Columbia Funds.) |
SAI | This Statement of Additional Information, as amended and supplemented from time-to-time |
SEC | United States Securities and Exchange Commission |
Shares | Shares of a Fund |
SOFR | Secured Overnight Financing Rate |
Solution Series Funds | Multisector Bond SMA Completion Portfolio and Overseas SMA Completion Portfolio |
Subadvisory Agreement | The Subadvisory Agreement among a Trust on behalf of the Fund(s), the Investment Manager and a Fund’s investment subadviser(s), as the context may require |
Threadneedle | Threadneedle International Limited |
Transfer Agency Agreement | The Transfer and Dividend Disbursing Agent Agreement between the Trust, on behalf of its Funds, and the Transfer Agent |
Transfer Agent | Columbia Management Investment Services Corp. |
Trustee(s) | One or more members of the Board |
Trust | Columbia Funds Series Trust II, which is the registered investment company in the Columbia Funds Complex to which this SAI relates |
* | Please see “LIBOR Transition & Reference Benchmarks Risk” in the Information Regarding Risks section for more information about the phaseout of LIBOR and related reference rates. |
Fund Name: | Referred to as: | |
Columbia Integrated Large Cap Growth Fund | Integrated Large Cap Growth Fund | |
Columbia Integrated Large Cap Value Fund | Integrated Large Cap Value Fund | |
Columbia Integrated Small Cap Growth Fund | Integrated Small Cap Growth Fund | |
Columbia Pyrford International Stock Fund | Pyrford International Stock Fund | |
Columbia Ultra Short Duration Municipal Bond Fund | Ultra Short Duration Municipal Bond Fund |
Statement of Additional Information – January 1, 2024 | 5 |
Fund | Fiscal Year End | Prospectus Date | Date
Began Operations* |
Diversified** | Fund
Investment Category*** |
Integrated Large Cap Growth Fund | August 31 | 1/1/2024 | November 20, 1992 | Yes | Equity |
Integrated Large Cap Value Fund | August 31 | 1/1/2024 | September 30, 1993 | Yes | Equity |
Integrated Small Cap Growth Fund | August 31 | 1/1/2024 | October 31, 1995 | Yes | Equity |
Pyrford International Stock Fund | August 31 | 1/1/2024 | December 29, 2011 | Yes | Equity |
Ultra Short Duration Municipal Bond Fund | August 31 | 1/1/2024 | September 30, 2009 | Yes | Tax-exempt fixed income |
* | Certain Funds reorganized into series of the Trust. The date of operations for these Funds represents the date on which the Predecessor Funds began operations. |
** | A “diversified” Fund may not, with respect to 75% of its total assets, invest more than 5% of its total assets in securities of any one issuer or purchase more than 10% of the outstanding voting securities of any one issuer, except obligations issued or guaranteed by the U.S. Government, its agencies or instrumentalities and except securities of other investment companies. A “non-diversified” Fund may invest a greater percentage of its total assets in the securities of fewer issuers than a “diversified” fund, which increases the risk that a change in the value of any one investment held by the Fund could affect the overall value of the Fund more than it would affect that of a “diversified” fund holding a greater number of investments. Accordingly, a “non-diversified” Fund’s value will likely be more volatile than the value of a more diversified fund. |
*** | The Fund Investment Category is used as a convenient way to describe Funds in this SAI and should not be deemed a description of the Fund’s principal investment strategies, which are described in the Fund’s prospectus. |
Fund | Effective
Date of Name Change |
Previous Fund Name |
Ultra Short Duration Municipal Bond Fund | September 1, 2022 | Columbia Ultra Short Municipal Bond Fund |
Statement of Additional Information – January 1, 2024 | 6 |
Fund | A Buy or sell real estate |
B Buy or sell commodities |
C Issuer Diversification |
D Concentrate in any one industry |
E Invest 80% |
F Act as an underwriter |
G Lending |
H Borrow money |
I Issue senior securities |
Integrated Large Cap Growth Fund | A | B | C | D | — | F | G | H | I |
Integrated Large Cap Value Fund | A | B | C | D | — | F | G | H | I |
Integrated Small Cap Growth Fund | A | B | C | D | — | F | G | H | I |
Pyrford International Stock Fund | A | B | C | D | — | F | G | H | I |
Ultra Short Duration Municipal Bond Fund | A | B | C | D | E | F | G | H | I |
A. | Buy or sell real estate |
A – | The Fund will not buy or sell real estate, unless acquired as a result of ownership of securities or other instruments, except this shall not prevent the Fund from investing in: (i) securities or other instruments backed by real estate or interests in real estate, (ii) securities or other instruments of issuers or entities that deal in real estate or are engaged in the real estate business, (iii) real estate investment trusts (REITs) or entities similar to REITs formed under the laws of non-U.S. countries or (iv) real estate or interests in real estate acquired through the exercise of its rights as a holder of securities secured by real estate or interests therein. |
B. | Buy or sell physical commodities |
B – | The Fund will not purchase or sell commodities, except to the extent permitted by the 1940 Act, the rules and regulations thereunder and any applicable exemptive relief. |
C. | Issuer Diversification*† |
C – | The Fund will not purchase securities (except securities issued or guaranteed by the U.S. Government, its agencies or instrumentalities) of any one issuer if, as a result, more than 5% of its total assets will be invested in the securities of such issuer or it would own more than 10% of the voting securities of such issuer, except that: (a) up to 25% of its total assets may be invested without regard to these limitations; and (b) a Fund’s assets may be invested in the securities of one or more management investment companies to the extent permitted by the 1940 Act, the rules and regulations thereunder, or any applicable exemptive relief. |
* | For purposes of applying the limitation set forth in its issuer diversification policy above, a Fund does not consider futures or swaps central counterparties, where the Fund has exposure to such central counterparties in the course of making investments in futures and securities, to be issuers. |
† | For purposes of applying the limitation set forth in its issuer diversification policy, under certain circumstances, a Fund may treat an investment, if any, in a municipal bond refunded with escrowed U.S. Government securities as an investment in U.S. Government securities. |
Statement of Additional Information – January 1, 2024 | 7 |
D. | Concentration* |
D – | The Fund will not purchase any securities which would cause 25% or more of the value of its total assets at the time of purchase to be invested in the securities of one or more issuers conducting their principal business activities in the same industry, provided that: (i) there is no limitation with respect to obligations issued or guaranteed by the U.S. Government, any state or territory of the United States or any of their agencies, instrumentalities or political subdivisions; and (ii) notwithstanding this limitation or any other fundamental investment limitation, assets may be invested in the securities of one or more investment companies or subsidiaries to the extent permitted by the 1940 Act, the rules and regulations thereunder and any applicable exemptive relief. |
* | For purposes of applying the limitation set forth in its concentration policy above, a Fund will generally use the industry classifications provided by GICS for classification of issuers of equity securities and the classifications provided by the Bloomberg U.S. Aggregate Bond Index for classification of issues of fixed-income securities. A Fund considers the investments of any underlying funds in which it invests, and will consider the portfolio positions applying the Time of Purchase Standard, which in the case of unaffiliated underlying funds is based on portfolio information made publicly available by them. A Fund does not consider futures or swaps clearinghouses or securities clearinghouses, where the Fund has exposure to such clearinghouses in the course of making investments in futures and securities, to be part of any industry. |
E. | Invest 80% |
E – | The Fund invests, under normal circumstances, at least 80% of the value of its net assets, plus the amount of any borrowings for investment purposes, in securities the income from which is exempt from federal income tax, including the federal AMT. |
F. | Act as an underwriter |
F – | The Fund will not underwrite any issue of securities issued by other persons within the meaning of the 1933 Act except when it might be deemed to be an underwriter either: (i) in connection with the disposition of a portfolio security; or (ii) in connection with the purchase of securities directly from the issuer where the Fund later resells such securities. This restriction shall not limit the Fund’s ability to invest in securities issued by other registered investment companies. |
G. | Lending |
G – | The Fund will not make loans, except to the extent permitted by the 1940 Act, the rules and regulations thereunder and any applicable exemptive relief. |
H. | Borrowing* |
H – | The Fund will not borrow money except to the extent permitted by the 1940 Act, the rules and regulations thereunder and any applicable exemptive relief. |
* | For purposes of the policies described herein, this restriction shall not prevent the Funds from engaging in derivatives, short sales or other portfolio transactions that create leverage, as allowed by each Fund’s investment policies. |
I. | Issue senior securities |
I – | The Fund will not issue senior securities, except as permitted under the 1940 Act, the rules and regulations thereunder and any applicable exemptive relief. |
■ | The Funds may not sell securities short, except as permitted by the 1940 Act, the rules and regulations thereunder and any applicable exemptive relief. |
Statement of Additional Information – January 1, 2024 | 8 |
Statement of Additional Information – January 1, 2024 | 9 |
Statement of Additional Information – January 1, 2024 | 10 |
Type of Investment | Equity |
Tax-Exempt Fixed Income |
Asset-Backed Securities | • | • |
Bank Obligations (Domestic and Foreign) | • | • |
Collateralized Bond Obligations | • | • |
Commercial Paper | • | • |
Common Stock | • | — |
Statement of Additional Information – January 1, 2024 | 11 |
Type of Investment | Equity |
Tax-Exempt Fixed Income |
Convertible Securities | • | • |
Corporate Debt Securities | • | • |
Custody Receipts and Trust Certificates | • | • |
Debt Obligations | • | • |
Depositary Receipts | • | — |
Derivatives | • | • |
Dollar Rolls | • | • |
Exchange-Traded Notes | • | • |
Foreign Currency Transactions | • | • |
Foreign Securities | • | • |
Guaranteed Investment Contracts (Funding Agreements) | • | • |
High-Yield Securities | • | • |
Illiquid Investments | • | • |
Inflation Protected Securities | • | • |
Initial Public Offerings | • | • |
Inverse Floaters | • | • |
Investments in Other Investment Companies (Including ETFs) | • | • |
Listed Private Equity Funds | • | • |
Money Market Instruments | • | • |
Mortgage-Backed Securities | • | • |
Municipal Securities | • | •A |
Participation Interests | • | • |
Partnership Securities | • | • |
Preferred Stock | • | • |
Private Placement and Other Restricted Securities | • | • |
Real Estate Investment Trusts | • | • |
Repurchase Agreements | • | • |
Reverse Repurchase Agreements | • | • |
Short Sales | • | • |
Sovereign Debt | • | • |
Standby Commitments | • | • |
U.S. Government and Related Obligations | • | • |
Variable- and Floating-Rate Obligations | • | • |
Warrants and Rights | • | • |
Statement of Additional Information – January 1, 2024 | 12 |
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■ | Contingent
Convertible Securities Risk. Contingent convertible
securities, also known as contingent capital securities or “CoCos,” are
hybrid securities that are typically issued by non-U.S. banks. CoCos have
characteristics of both debt and equity instruments, although they are
generally treated by the Funds as debt investments. If certain “trigger
events” occur, CoCos either convert into equity or undergo a principal
write-down or write-off. Trigger events, which are defined by the
documents governing the CoCo, may include a decline in the issuer’s
capital ratio below a specified trigger level, the share price of the
issuer falling to a particular level for a certain period of time, other
events indicating an increase in the issuer’s risk of insolvency, and/or
certain regulatory events, including changes in regulatory capital
requirements or regulatory actions related to the issuer’s solvency
prospects. |
The
value of CoCos may be influenced by the creditworthiness of the issuer
and/or fluctuations in such issuer’s applicable capital ratios; supply and
demand for CoCos; general market conditions and available liquidity; and
economic, financial or political events impacting the issuer, its
particular market or the financial markets more broadly. Due to the
contingent conversion or principal write-down or write-off features, CoCos
may have substantially greater risk than other securities in times of
financial stress. The occurrence of an automatic conversion or write-down
or write-off event may be unpredictable and the potential effects of such
event could cause a Fund’s shares to lose value. The coupon payments
offered by CoCos are discretionary and may be cancelled or adjusted
downward by the issuer or at the request of the relevant regulatory
authority at any point, for any reason, and for any length of time. As a
result of the uncertainty with respect to coupon payments, the value of
CoCos may be volatile and their price may decline rapidly if coupon
payments are suspended. CoCos are typically structurally subordinated to
traditional convertible bonds in the issuer’s capital structure. There may
be circumstances under which investors in CoCos may suffer a capital loss
ahead of equity holders or when equity holders do not. | |
Although one or more of the other risks described in this SAI may also apply, the risks typically associated with CoCos include: Convertible Securities Risk, Credit Risk, Foreign Securities Risk, High-Yield Investments Risk, Interest Rate Risk, Issuer Risk, and Market Risk. |
Statement of Additional Information – January 1, 2024 | 51 |
Statement of Additional Information – January 1, 2024 | 52 |
Statement of Additional Information – January 1, 2024 | 53 |
■ | A forward foreign currency contract is a derivative (forward contract) in which the underlying reference is a country's or region’s currency. The Fund may agree to buy or sell a country's or region’s currency at a specific price on a specific date in the future. These instruments may fall in value (sometimes dramatically) due to foreign market downswings or foreign currency value fluctuations, subjecting the Fund to foreign currency risk (the risk that Fund performance may be negatively impacted by foreign currency strength or weakness relative to the U.S. dollar, particularly if the Fund exposes a significant percentage of its assets to currencies other than the U.S. dollar). The effectiveness of any currency hedging strategy by a Fund may be reduced by the Fund’s inability to precisely match forward contract amounts and the value of securities involved. Forward foreign currency contracts used for hedging may also limit any potential gain that might result from an increase or decrease in the value of the currency. The Fund may use these instruments to gain leveraged exposure to currencies, which is a speculative investment practice that increases the Fund's risk exposure and the possibility of losses. Unanticipated changes in the currency markets could result in reduced performance for the Fund. When the Fund converts its foreign currencies into U.S. dollars, it may incur currency conversion costs due to the spread between the prices at which it may buy and sell various currencies in the market. |
Statement of Additional Information – January 1, 2024 | 54 |
■ | A forward interest rate agreement is a derivative whereby the buyer locks in an interest rate at a future settlement date. If the interest rate on the settlement date exceeds the lock rate, the buyer pays the seller the difference between the two rates (based on the notional value of the agreement). If the lock rate exceeds the interest rate on the settlement date, the seller pays the buyer the difference between the two rates (based on the notional value of the agreement). The Fund may act as a buyer or a seller. |
■ | A bond (or debt instrument) future is a derivative that is an agreement for the contract holder to buy or sell a bond or other debt instrument, a basket of bonds or other debt instruments, or the bonds or other debt instruments in an index on a specified date at a predetermined price. The buyer (long position) of a bond future is obliged to buy the underlying reference at the agreed price on expiry of the future. |
■ | A commodity-linked future is a derivative that is an agreement to buy or sell one or more commodities (such as crude oil, gasoline and natural gas), basket of commodities or indices of commodity futures at a specific date in the future at a specific price. |
■ | A currency future, also an FX future or foreign exchange future, is a derivative that is an agreement to exchange one currency for another at a specified date in the future at a price (exchange rate) that is fixed on the purchase date. |
■ | An equity future is a derivative that is an agreement for the contract holder to buy or sell a specified amount of an individual equity, a basket of equities, or the securities in an equity index on a specified date at a predetermined price. |
■ | An interest rate future is a derivative that is an agreement whereby the buyer and seller agree to the future delivery of an interest-bearing instrument on a specific date at a pre-determined price. Examples include Treasury-bill futures, Treasury-bond futures and Eurodollar futures. |
Statement of Additional Information – January 1, 2024 | 55 |
■ | A commodity-linked structured note is a derivative (structured investment) that has principal and/or interest payments based on the market price of one or more particular commodities (such as crude oil, gasoline and natural gas), a basket of commodities, indices of commodity futures or other economic variable. If payment of interest on a commodity-linked structured note is linked to the value of a particular commodity, basket of commodities, commodity index or other economic variable, the Fund might receive lower interest payments (or not receive any of the interest due) on its investments if there is a loss of value in the underlying reference. Further, to the extent that the amount of principal to be repaid upon maturity is linked to the value of a particular commodity, basket of commodities, commodity index or other economic variable, the Fund might not receive a portion (or any) of the principal at maturity of the investment or upon earlier exchange. At any time, the risk of loss associated with a particular structured note in the Fund’s portfolio may be significantly higher than the value of the note. A liquid secondary market may not exist for the commodity-linked structured notes held in the Fund’s portfolio, which may make it difficult for the notes to be sold at a price acceptable to the portfolio managers or for the Fund to accurately value them. |
■ | An equity-linked note (ELN) is a derivative (structured investment) that has principal and/or interest payments based on the value of a single equity security, a basket of equity securities, or an index of equity securities, and generally has risks similar to these underlying equity securities. ELNs may be leveraged or unleveraged. An ELN typically provides interest income, thereby offering a yield advantage over investing directly in an underlying equity. The Fund may purchase ELNs that trade on a securities exchange or those that trade on the over-the-counter markets, as well as in privately negotiated transactions with the issuer of the ELN. Investments in ELNs are also subject to liquidity risk, which may make ELNs difficult to sell and value. The liquidity of unlisted ELNs is normally determined by the willingness of the issuer to make a market in the ELN. While the Fund will seek to purchase ELNs only from issuers that it believes to be willing and able to repurchase the ELN at a reasonable price, there can be no assurance that the Fund will be able to sell at such a price. Furthermore, such inability to sell may impair the Fund’s ability to enter into other transactions at a time when doing so might be advantageous. The Fund’s investments in ELNs have the potential to lead to significant losses, including the amount the Fund invested in the ELN, because ELNs are subject to the market and volatility risks associated with their underlying equity. In addition, because ELNs often take the form of unsecured notes of the issuer, the Fund would be subject to the risk that the issuer may default on its obligations under the ELN, thereby subjecting the Fund to the further risk of being too concentrated in the securities (including ELNs) of that issuer. However, the Fund typically considers ELNs alongside other securities of the issuer in its |
Statement of Additional Information – January 1, 2024 | 56 |
assessment of issuer concentration risk. In addition, ELNs may exhibit price behavior that does not correlate with the underlying securities. ELNs may also be subject to leverage risk. The Fund may or may not hold an ELN until its maturity. ELNs also include participation notes. |
■ | A commodity-linked swap is a derivative (swap) that is an agreement where the underlying reference is the market price of one or more particular commodities (such as crude oil, gasoline and natural gas), basket of commodities or indices of commodity futures. |
■ | A credit default swap (including a swap on a credit default index, sometimes referred to as a credit default swap index) is a derivative and special type of swap where one party pays, in effect, an insurance premium through a stream of payments to another party in exchange for the right to receive a specified return upon the occurrence of a particular credit event by one or more third parties, such as bankruptcy, default or a similar event. A credit default swap may be embedded within a structured note or other derivative instrument. Credit default swaps enable an investor to buy or sell protection against such a credit event (such as an issuer’s bankruptcy, restructuring or failure to make timely payments of interest or principal). Credit default swap indices are indices that reflect the performance of a basket of credit default swaps and are subject to the same risks as credit default swaps. If such a default were to occur, any contractual remedies that the Fund may have may be subject to bankruptcy and insolvency laws, which could delay or limit the Fund's recovery. Thus, if the counterparty under a credit default swap defaults on its obligation to make payments thereunder, as a result of its bankruptcy or otherwise, the Fund may lose such payments altogether, or collect only a portion thereof, which collection could involve costs or delays. The Fund’s return from investment in a credit default swap index may not match the return of the referenced index. Further, investment in a credit default swap index could result in losses if the referenced index does not perform as expected. Unexpected changes in the composition of the index may also affect performance of the credit default swap index. If a referenced index has a dramatic intraday move that causes a material decline in the Fund’s net assets, the terms of the Fund’s credit default swap index may permit the counterparty to immediately close out the transaction. In that event, the Fund may be unable to enter into another credit default swap index or otherwise achieve desired exposure, even if the referenced index reverses all or a portion of its intraday move. |
■ | An inflation rate swap is a derivative typically used to transfer inflation risk from one party to another through an exchange of cash flows. In an inflation rate swap, one party pays a fixed rate on a notional principal amount, while the other party pays a floating rate linked to an inflation index, such as the Consumer Price Index (CPI). |
■ | An interest rate swap is a derivative in which two parties agree to exchange interest rate cash flows, based on a specified notional amount from a fixed rate to a floating rate (or vice versa) or from one floating rate to another. Interest rate swaps can be based on various measures of interest rates, including swap rates, treasury rates, foreign interest rates and other reference rates. |
■ | Total return swaps are derivative swap transactions in which one party agrees to pay the other party an amount equal to the total return of a defined underlying reference during a specified period of time. In return, the other party would make periodic payments based on a fixed or variable interest rate or on the total return of a different underlying reference. |
■ | A Municipal Market Data (MMD) Rate Lock permits a Fund to lock in a specific municipal interest rate for a portion of its portfolio to preserve a return on a particular investment or a portion of its portfolio, which in turn protects against any increase in the price of securities to be purchased at a later date. By using an MMD Rate Lock, the Fund can create a synthetic long or short duration position. A Fund will ordinarily use these transactions as a hedge or for duration or risk management, which may not be successful. An MMD Rate Lock is a contract between a Fund and an MMD Rate Lock provider pursuant to which the parties agree to make a net settlement payment to each other on a notional and duration amount, contingent upon whether the Municipal Market Data AAA General Obligation Scale is above or below a specified level on the expiration date of the contract. For example, if a Fund buys an MMD Rate Lock and the Municipal Market Data AAA General Obligation Scale is below the specified level on the expiration date, the counterparty to the contract will make a payment to a Fund equal to the specified level minus the actual level, multiplied by the notional amount of the contract. If the Municipal Market Data AAA General Obligation Scale is above the specified level on the expiration date, a Fund will |
Statement of Additional Information – January 1, 2024 | 57 |
make a payment to the counterparty equal to the actual level minus the specified level, multiplied by the notional amount of the contract. In connection with investments in MMD Rate Locks, there is a risk that municipal yields will move in the opposite direction than anticipated by a Fund, which would cause the Fund to make payments to its counterparty in the transaction that could adversely affect the Fund’s performance. |
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■ | Large-Cap Stock Risk. Investments in larger, more established companies (larger companies) may involve certain risks associated with their larger size. For instance, larger companies may be less able to respond quickly to new competitive challenges, such as changes in consumer tastes or innovation from smaller competitors. Also, larger companies are sometimes less able to achieve as high growth rates as successful smaller companies, especially during extended periods of economic expansion. |
■ | Small- and Mid-Cap Stock Risk. Securities of small- and mid-cap companies can, in certain circumstances, have a higher potential for gains than securities of larger companies but are more likely to have more risk than larger companies. For example, small- and mid-cap companies may be more vulnerable to market downturns and adverse business or economic events than larger companies because they may have more limited financial resources and business operations. Small- and mid-cap companies are also more likely than larger companies to have more limited product lines and operating histories and to depend on smaller and generally less experienced management teams. Securities of small- and mid-cap companies may trade less frequently and in smaller volumes and may be less liquid and fluctuate more sharply in value than securities of larger companies. When the Fund takes significant positions in small- and mid-cap companies with limited trading volumes, the liquidation of those positions, particularly in a distressed market, could be prolonged and result in Fund investment losses that would affect the value of your investment in the Fund. In addition, some small- and mid-cap companies may not be widely followed by the investment community, which can lower the demand for their stocks. |
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Fund | Assets (millions) |
Annual
rate at each asset level |
Integrated Large Cap Growth Fund | $0 - $500 | 0.750% |
Integrated Large Cap Value Fund | >$500 - $1,000 | 0.700% |
>$1,000 - $1,500 | 0.650% | |
>$1,500 - $3,000 | 0.600% | |
>$3,000 - $6,000 | 0.580% | |
>$6,000 - $12,000 | 0.560% | |
>$12,000 | 0.550% | |
Integrated Small Cap Growth Fund | $0 - $500 | 0.850% |
>$500 - $1,000 | 0.800% | |
>$1,000 - $3,000 | 0.750% | |
>$3,000 - $12,000 | 0.740% | |
>$12,000 | 0.730% | |
Pyrford International Stock Fund | $0 - $250 | 0.870% |
>$250 - $500 | 0.855% | |
>$500 - $750 | 0.820% | |
>$750 - $1,000 | 0.800% | |
>$1,000 - $1,500 | 0.770% | |
>$1,500 - $3,000 | 0.720% | |
>$3,000 - $6,000 | 0.700% | |
>$6,000 - $12,000 | 0.680% | |
>$12,000 - $20,000 | 0.670% | |
>$20,000 - $24,000 | 0.660% | |
>$24,000 - $50,000 | 0.650% | |
>$50,000 | 0.620% | |
Ultra Short Duration Municipal Bond Fund | All assets | 0.21% |
Statement of Additional Information – January 1, 2024 | 87 |
Management Services Fees Paid | ||
Fund | ||
For Funds with fiscal period ending August 31 | 2023 | 2022 |
Integrated Large Cap Growth Fund | $1,834,497 | $1,573,684 |
Integrated Large Cap Value Fund | $1,958,693 | $2,005,698 |
Integrated Small Cap Growth Fund | $477,222 | $342,699 |
Pyrford International Stock Fund | $4,068,901 | $3,763,882 |
Ultra Short Duration Municipal Bond Fund | $444,650 | $447,437 |
Investment Advisory Services Fees Paid | ||
Fund | ||
For Funds with fiscal period ending August 31 | 2022 | 2021 |
Integrated Large Cap Growth Fund | $769,756 | $1,741,675 |
Integrated Large Cap Value Fund | 450,045 | 1,059,665 |
Integrated Small Cap Growth Fund | 298,836 | 766,653 |
Pyrford International Stock Fund | 1,493,963 | 5,340,157 |
Ultra Short Duration Municipal Bond Fund | 376,431 | 971,897 |
Statement of Additional Information – January 1, 2024 | 88 |
Fund | Subadviser | Parent Company/Other Information |
Effective Fee Rate |
For Funds with fiscal period ending August 31 | |||
Pyrford International Stock Fund | Pyrford | A | 0.294% on the first $500 million, declining to 0.224% as assets increase |
Statement of Additional Information – January 1, 2024 | 89 |
Subadvisory Fees Paid(a) | ||||
Fund | Subadviser | |||
For Funds with fiscal period ending August 31 | 2023 | 2022 | 2021 | |
Pyrford International Stock Fund | Pyrford | $1,385,446 | $1,866,595 | $2,136,063 |
Other Accounts Managed (excluding the Fund) | Ownership of Fund Shares |
Potential Conflicts of Interest |
Structure of Compensation | ||||
Fund | Portfolio Manager | Number and Type of Account* |
Approximate Total Net Assets |
Performance– Based Accounts** | |||
For Funds with fiscal year ending August 31 – Information is as of August 31, 2023, unless otherwise noted | |||||||
Integrated Large Cap Growth Fund | Jason Hans | 3
RICs 58 other accounts |
$324.45
million $6.22 billion |
None | $50,001
– $100,000(b) |
Columbia Management | Columbia Management |
Oleg Nusinzon(c) | 7
RICs 21 other accounts |
$9.72
billion $7.03 billion |
None | None | |||
Raghavendran Sivaraman(c) | 7
RICs 16 other accounts |
$9.72
billion $7.03 billion |
None | None | |||
Integrated Large Cap Value Fund | Jason Hans | 3
RICs 58 other accounts |
$375.99
million $6.22 billion |
None | $100,001
– $500,000(b) |
Columbia Management | Columbia Management |
Oleg Nusinzon(c) | 7
RICs 21 other accounts |
$9.72
billion $7.03 billion |
None | None | |||
Raghavendran Sivaraman(c) | 7
RICs 16 other accounts |
$9.72
billion $7.03 billion |
None | None | |||
Integrated Small Cap Growth Fund | Jason Hans | 3
RICs 58 other accounts |
$523.50
million $6.22 billion |
None | $50,001
– $100,000(b) |
Columbia Management | Columbia Management |
Oleg Nusinzon(c) | 7
RICs 21 other accounts |
$9.72
billion $7.03 billion |
None | None | |||
Raghavendran Sivaraman(c) | 7
RICs 16 other accounts |
$9.72
billion $7.03 billion |
None | None | |||
Pyrford International Stock Fund | Pyrford: Tony Cousins(d) |
2 RICs 5 PIVs 28 other accounts |
$777.20 million $2.94 billion $4.93 billion |
1 other account ($349.35 M) |
None |
Pyrford |
Pyrford |
Daniel McDonagh(d) | 2
RICs 5 PIVs 28 other accounts |
$777.20
million $2.94 billion $4.93 billion |
1
other account ($349.35 M) |
None | |||
Paul Simons(d) | 2
RICs 5 PIVs 28 other accounts |
$777.20
million $2.94 billion $4.93 billion |
1
other account ($349.35 M) |
None | |||
Ultra Short Duration Municipal Bond Fund | Douglas Rangel | 8
RICs 5 other accounts |
$3.33
billion $69.44 million |
None | None | Columbia Management | Columbia Management |
Catherine Stienstra | 8
RICs 3 other accounts |
$6.14
billion $1.86 million |
None | None |
* | RIC refers to a Registered Investment Company; PIV refers to a Pooled Investment Vehicle. |
** | Number of accounts for which the advisory fee paid is based in part or wholly on performance and the aggregate net assets in those accounts. |
Statement of Additional Information – January 1, 2024 | 90 |
(a) | Excludes any notional investments. |
(b) | Notional investments through a deferred compensation account. |
(c) | The portfolio manager began managing the Fund after its last fiscal year end; reporting information is provided as of October 31, 2023. |
(d) | The Fund is available for sale only in the U.S. The portfolio manager does not reside in the U.S. and therefore does not hold any shares of the Fund. |
Columbia Management: Like other investment professionals with multiple clients, a Fund’s portfolio manager(s) may face certain potential conflicts of interest in connection with managing both the Fund and other accounts at the same time. The Investment Manager and the Funds have adopted compliance policies and procedures that attempt to address certain of the potential conflicts that portfolio managers face in this regard. Certain of these conflicts of interest are summarized below. | |
The management of funds or other accounts with different advisory fee rates and/or fee structures, including accounts, such as the Investment Manager’s hedge funds, that pay advisory fees based on account performance (performance fee accounts), may raise potential conflicts of interest for a portfolio manager by creating an incentive to favor accounts that pay higher fees, including performance fee accounts, such that the portfolio manager may have an incentive to allocate attractive investments disproportionately to performance fee accounts. | |
Similar conflicts of interest also may arise when a portfolio manager has personal investments in other accounts that may create an incentive to favor those accounts. When the Investment Manager determines it necessary or appropriate in order to ensure compliance with restrictions on joint transactions under the 1940 Act, a Fund may not be able to invest in privately-placed securities in which other accounts advised by the Investment Manager using a similar style, including performance fee accounts, are able to invest, even when the Investment Manager believes such securities would otherwise represent attractive investment opportunities. As a general matter and subject to the Investment Manager’s Code of Ethics and certain limited exceptions, including for investments in the Investment Manager’s hedge funds, the Investment Manager’s investment professionals do not have the opportunity to invest in client accounts, other than the Funds. | |
A portfolio manager who is responsible for managing multiple funds and/or accounts may devote unequal time and attention to the management of those Funds and/or accounts. The effects of this potential conflict may be more pronounced where Funds and/or accounts managed by a particular portfolio manager have different investment strategies. | |
A portfolio manager may be able to select or influence the selection of the broker/dealers that are used to execute securities transactions for the Funds. A portfolio manager’s decision as to the selection of broker/dealers could produce disproportionate costs and benefits among the Funds and the other accounts the portfolio manager manages. | |
A potential conflict of interest may arise when a portfolio manager buys or sells the same securities for a Fund and other accounts. On occasions when a portfolio manager considers the purchase or sale of a security to be in the best interests of a Fund as well as other accounts, the Investment Manager’s trading desk may, to the extent consistent with applicable laws and regulations, aggregate the securities to be sold or bought in order to obtain the best execution and lower brokerage commissions, if any. Aggregation of trades may create the potential for unfairness to a Fund or another account if a portfolio manager favors one account over another in allocating the securities bought or sold. The Investment Manager and its Participating Affiliates may coordinate their trading operations for certain types of securities and transactions pursuant to personnel-sharing agreements or similar intercompany arrangements. However, typically the Investment Manager does not coordinate trading activities with a Participating Affiliate with respect to accounts of that Participating Affiliate unless such Participating Affiliate is also providing trading services for accounts managed by the Investment Manager. Similarly, a Participating Affiliate typically does not coordinate trading activities with the Investment Manager with respect to accounts of the Investment Manager unless the Investment Manager is also providing trading services for accounts managed by such Participating Affiliate. As a result, it is possible that the Investment Manager and its Participating Affiliates may trade in the same instruments at the same time, in the same or opposite direction or in different sequence, which could negatively impact the prices paid by the Fund on such instruments. Additionally, in circumstances where trading services are being provided on a coordinated basis for the Investment Manager’s accounts (including the Funds) and the accounts of one or more Participating Affiliates in accordance with applicable law, it is possible that the allocation opportunities available to the Funds may be decreased, especially for less actively traded securities, or orders may take longer to execute, which may negatively impact Fund performance. | |
“Cross trades,” in which a portfolio manager sells a particular security held by a Fund to another account (potentially saving transaction costs for both accounts), could involve a potential conflict of interest if, for example, a portfolio manager is permitted to sell a security from one account to another account at a higher price than an independent third party would pay. The Investment Manager and the Funds have adopted compliance procedures that provide that any transactions between a Fund and another account managed by the Investment Manager are to be made at a current market price, consistent with applicable laws and regulations. |
Statement of Additional Information – January 1, 2024 | 91 |
Another potential conflict of interest may arise based on the different investment objectives and strategies of a Fund and other accounts managed by its portfolio manager(s). Depending on another account’s objectives and other factors, a portfolio manager may give advice to and make decisions for a Fund that may differ from advice given, or the timing or nature of decisions made, with respect to another account. A portfolio manager’s investment decisions are the product of many factors in addition to basic suitability for the particular account involved. Thus, a portfolio manager may buy or sell a particular security for certain accounts, and not for a Fund, even though it could have been bought or sold for the Fund at the same time. A portfolio manager also may buy a particular security for one or more accounts when one or more other accounts are selling the security (including short sales). There may be circumstances when a portfolio manager’s purchases or sales of portfolio securities for one or more accounts may have an adverse effect on other accounts, including the Funds. |
To the extent a Fund invests in underlying funds, a portfolio manager will be subject to additional potential conflicts of interest. Because of the structure of funds-of-funds, the potential conflicts of interest for the portfolio managers may be different than the potential conflicts of interest for portfolio managers who manage other Funds. The Investment Manager and its affiliates may receive higher compensation as a result of allocations to underlying funds with higher fees. |
A Fund’s portfolio manager(s) also may have other potential conflicts of interest in managing the Fund, and the description above is not a complete description of every conflict that could exist in managing the Fund and other accounts. Many of the potential conflicts of interest to which the Investment Manager’s portfolio managers are subject are essentially the same or similar to the potential conflicts of interest related to the investment management activities of the Investment Manager and its affiliates. |
In addition, a portfolio manager’s responsibilities may include working as a securities analyst. This dual role may give rise to conflicts with respect to making investment decisions for accounts that he/she manages versus communicating his/her analyses to other portfolio managers concerning securities that he/she follows as an analyst. | |
Pyrford: A conflict of interest may arise as a result of a portfolio manager being responsible for multiple accounts, including the Pyrford International Stock Fund (for purposes of this section, the “Fund”), which may have different investment guidelines and objectives. In addition to the Fund, these accounts may include other mutual funds managed on an advisory or subadvisory basis, separate accounts, collective trust accounts and other accounts. An investment opportunity may be suitable for the Fund as well as for any of the other managed accounts. However, the investment may not be available in a sufficient quantity for all of the accounts to participate fully. In addition, a limited opportunity may exist to sell an investment held by the Fund and the other accounts. The other accounts may have similar investment objectives or strategies as the Fund, they may have the same benchmarks or indexes as the Fund, and they may sell securities that are eligible to be held, sold or purchased by the Fund. A portfolio manager may be responsible for accounts that have different advisory fee schedules, which may create the incentive for the portfolio manager to favor one account over another in terms of access to investment opportunities. A portfolio manager also may manage accounts whose investment objectives and policies differ from those of the Fund, which may cause the portfolio manager to effect trading in one account that may have an adverse effect on the value of the holdings within another account, including the Fund. |
To address and manage these potential conflicts of interest, Pyrford has adopted compliance policies and procedures to allocate investment opportunities and to ensure that each of their clients is treated on a fair and equitable basis. Such policies and procedures include, but are not limited to, trade allocation and trade aggregation policies, cross trading policies, portfolio manager assignment practices, and oversight by investment management, and/or compliance departments. |
Statement of Additional Information – January 1, 2024 | 92 |
Statement of Additional Information – January 1, 2024 | 93 |
Administration Fees Paid to Previous Administrator(a) | ||
Fund | ||
For Funds with fiscal period ending August 31 | 2022 | 2021 |
Integrated Large Cap Growth Fund | $137,795 | $303,166 |
Integrated Large Cap Value Fund | 173,113 | 398,603 |
Integrated Small Cap Growth Fund | 65,439 | 167,880 |
Pyrford International Stock Fund | 198,702 | 723,415 |
Ultra Short Duration Municipal Bond Fund | 325,395 | 842,846 |
Statement of Additional Information – January 1, 2024 | 94 |
Sales Charges Paid to Distributor(a) | |||
Fund | |||
For Funds with fiscal period ending August 31 | 2023 | 2022 | 2021 |
Integrated Large Cap Growth Fund | $4,106 | $1,172 | $0 |
Integrated Large Cap Value Fund | 1,907 | 3,855 | 0 |
Integrated Small Cap Growth Fund | 748 | 1,345 | 0 |
Pyrford International Stock Fund | 40 | 1,018 | 0 |
Ultra Short Duration Municipal Bond Fund | 0 | 0 | 0 |
Amount Retained by Distributor After Paying Commissions(a) | |||
Fund | |||
For Funds with fiscal period ending August 31 | 2023 | 2022 | 2021 |
Integrated Large Cap Growth Fund | $570 | $159 | $0 |
Integrated Large Cap Value Fund | 272 | 545 | 0 |
Integrated Small Cap Growth Fund | 108 | 192 | 0 |
Pyrford International Stock Fund | 5 | 143 | 0 |
Ultra Short Duration Municipal Bond Fund | 0 | 0 | 0 |
Distribution Fee | Service Fee | Combined Total | |
Class A | up to 0.25% | 0.25% | Up to 0.35% |
Class Adv | None | None | None |
Class C | 0.75% | 0.25%(a) | 1.00%(a)(c) |
Class Inst | None | None | None |
Class Inst2 | None | None | None |
Class Inst3 | None | None | None |
Class R | up to 0.50% | up to 0.25% | 0.50%(c)(e) |
Statement of Additional Information – January 1, 2024 | 95 |
Funds | Maximum Class A Distribution Fee |
Maximum Class A Service Fee |
Maximum Class A Combined Total |
Series of CFST II | — | — | 0.25%;
these Funds pay a combined distribution and service fee |
Ultra Short Duration Municipal Bond Fund | up to 0.15% | up to 0.15% | 0.15% |
Fund | Class A | Class C | Class R |
For Funds with fiscal period ending August 31 | |||
Integrated Large Cap Growth Fund | $74,421 | $69 | $10 |
Integrated Large Cap Value Fund | 82,325 | 93 | 11 |
Integrated Small Cap Growth Fund | 42,285 | 279 | 11 |
Pyrford International Stock Fund | 4,787 | 23 | 12 |
Ultra Short Duration Municipal Bond Fund | 9,083 | N/A | N/A |
Statement of Additional Information – January 1, 2024 | 96 |
Statement of Additional Information – January 1, 2024 | 97 |
Fees Reimbursed | |||
Fund | |||
For Funds with fiscal period ending August 31 | 2023 | 2022 | 2021 |
Integrated Large Cap Growth Fund | $1,149,759 | $947,168 | $0 |
Integrated Large Cap Value Fund | 1,215,293 | 1,186,508 | 0 |
Integrated Small Cap Growth Fund | 262,836 | 189,646 | 0 |
Pyrford International Stock Fund | 889,592 | 776,154 | 0 |
Ultra Short Duration Municipal Bond Fund | 32,747 | 93,061 | 0 |
Fees Waived | |||
Fund | |||
For Funds with fiscal period ending August 31 | 2023 | 2022 | 2021 |
Integrated Large Cap Growth Fund | $0 | $106,744 | $208,416 |
Integrated Large Cap Value Fund | 29 | 105,530 | 207,071 |
Integrated Small Cap Growth Fund | 0 | 52,894 | 121,325 |
Pyrford International Stock Fund | 0 | 28,975 | 54,381 |
Ultra Short Duration Municipal Bond Fund | 0 | 227,917 | 483,674 |
Statement of Additional Information – January 1, 2024 | 98 |
Statement of Additional Information – January 1, 2024 | 99 |
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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 and Other Relevant Board Experience |
Committee Assignments |
George
S. Batejan c/o Columbia Management Investment Advisers, LLC, 290 Congress Street Boston, MA 02210 1954 |
Trustee
since 2017 |
Executive Vice President, Global Head of Technology and Operations, Janus Capital Group, Inc., 2010-2016 | 161 | 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; former Board Member, Chase Bank International, 1993-1994 | Compliance, Contracts, Investment Review Committee |
Statement of Additional Information – January 1, 2024 | 106 |
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 and Other Relevant Board Experience |
Committee Assignments |
Kathleen
Blatz c/o Columbia Management Investment Advisers, LLC, 290 Congress Street Boston, MA 02210 1954 |
Trustee
since 2006 |
Attorney, specializing in arbitration and mediation; Chief Justice, Minnesota Supreme Court, 1998-2006; Associate Justice, Minnesota Supreme Court, 1996-1998; Fourth Judicial District Court Judge, Hennepin County, 1994-1996; Attorney in private practice and public service, 1984-1993; State Representative, Minnesota House of Representatives, 1979-1993, which included service on the Tax and Financial Institutions and Insurance Committees; Member and Interim Chair, Minnesota Sports Facilities Authority, January-July 2017; Interim President and Chief Executive Officer, Blue Cross Blue Shield of Minnesota (health care insurance), February-July 2018, April-October 2021 | 161 | Former Trustee, Blue Cross and Blue Shield of Minnesota, 2009-2021 (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; former Director, Robina Foundation, 2009-2020 (Chair, 2014-2020); Director, Richard M. Schulze Family Foundation, since 2021 | Compliance, Contracts, Investment Review Committee |
Pamela
G. Carlton c/o Columbia Management Investment Advisers, LLC, 290 Congress Street Boston, MA 02210 1954 |
Chair since 2023; 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, Cleary Gottlieb Steen & Hamilton LLP, 1980-1982 | 161 | Trustee, New York Presbyterian Hospital Board, since 1996; Director, DR Bank (Audit Committee), since 2017; Director, Evercore Inc. (Audit Committee, Nominating and Governance Committee) (financial services), since 2019; Director, Apollo Commercial Real Estate Finance, Inc. (Chair, Nominating and Governance Committee), since 2021; the Governing Council of the Independent Directors Council (IDC), since 2021 | Contracts, Board Governance, Investment Review Committee |
Janet
Langford Carrig c/o Columbia Management Investment Advisers, LLC, 290 Congress Street Boston, MA 02210 1957 |
Trustee
since 1996 |
Senior Vice President, General Counsel and Corporate Secretary, ConocoPhillips (independent energy company), September 2007-October 2018 | 161 | Director, EQT Corporation (natural gas producer), since 2019; former Director, Whiting Petroleum Corporation (independent oil and gas company), 2020-2022 | Contracts, Board Governance, Investment Review Committee |
Statement of Additional Information – January 1, 2024 | 107 |
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 and Other Relevant Board Experience |
Committee Assignments |
J.
Kevin Connaughton c/o Columbia Management Investment Advisers, LLC, 290 Congress Street Boston, MA 02210 1964 |
Trustee
since 2020 |
CEO and President, RhodeWay Financial (non-profit financial planning firm), since December 2022; Member, FINRA National Adjudicatory Council since January 2020; Adjunct Professor of Finance, Bentley University, since January 2018; Consultant to Independent Trustees of CFVIT and CFST I from March 2016 to June 2020 with respect to CFVIT and to December 2020 with respect to CFST I; 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 | 159 | Former Director, The Autism Project, March 2015-December 2021; 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 (former mutual fund complex), January 2015-December 2017 | Audit, Contracts, Investment Review Committee |
Olive
M. Darragh c/o Columbia Management Investment Advisers, LLC, 290 Congress Street Boston, MA 02210 1962 |
Trustee
since 2020 |
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; Consultant to Independent Trustees of CFVIT and CFST I from June 2019 to June 2020 with respect to CFVIT and to December 2020 with respect to CFST I; Partner, Tudor Investments, 2004-2010; Senior Partner, McKinsey & Company (consulting), 1990-2004; Touche Ross CPA, 1985-1988 | 159 | Treasurer, Edinburgh University US Trust Board, since January 2023; Member, HBS Community Action Partners Board, since September 2022; former Director, University of Edinburgh Business School (Member of US Board), 2004-2019; former Director, Boston Public Library Foundation, 2008-2017 | Contracts, Investment Review Committee |
Patricia
M. Flynn c/o Columbia Management Investment Advisers, LLC, 290 Congress Street Boston, MA 02210 1950 |
Trustee
since 2004 |
Professor Emeritus of Economics and Management, Bentley University, since 2023; Professor of Economics and Management, Bentley University, 1976-2023; Dean, McCallum Graduate School of Business, Bentley University, 1992-2002 | 161 | Former Trustee, MA Taxpayers Foundation, 1997-2022; former Director, The MA Business Roundtable, 2003-2019; former Chairperson, Innovation Index Advisory Committee, MA Technology Collaborative, 1997-2020 | Audit, Contracts, Investment Review Committee |
Brian
J. Gallagher c/o Columbia Management Investment Advisers, LLC, 290 Congress Street Boston, MA 02210 1954 |
Trustee
since 2017 |
Retired; Partner with Deloitte & Touche LLP and its predecessors, 1977-2016 | 161 | Trustee, Catholic Schools Foundation, since 2004 | Audit, Contracts, Investment Review Committee |
Statement of Additional Information – January 1, 2024 | 108 |
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 and Other Relevant Board Experience |
Committee Assignments |
Douglas
A. Hacker c/o Columbia Management Investment Advisers, LLC, 290 Congress Street Boston, MA 02210 1955 |
Trustee
since 1996 |
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 | 161 | Director, SpartanNash Company since November 2013 (Chair of the Board since May 2021) (food distributor); Director, Aircastle Limited (Chair of Audit Committee) (aircraft leasing), since August 2006; 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 | Audit, Contracts, Board Governance, Investment Review Committee |
Nancy
T. Lukitsh c/o Columbia Management Investment Advisers, LLC, 290 Congress Street Boston, MA 02210 1956 |
Trustee
since 2011 |
Senior Vice President, Partner and Director of Marketing, Wellington Management Company, LLP (investment adviser), 1997-2010; Chair, Wellington Management Portfolios (commingled non-U.S. investment pools), 2007 -2010; Director, Wellington Trust Company, NA and other Wellington affiliates, 1997-2010 | 159 | None | Compliance, Contracts, Board Governance, Investment Review Committee |
David
M. Moffett c/o Columbia Management Investment Advisers, LLC, 290 Congress Street Boston, MA 02210 1952 |
Trustee
since 2011 |
Retired; former Chief Executive Officer of Freddie Mac and Chief Financial Officer of U.S. Bank | 161 | Director, CSX Corporation (transportation suppliers); 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; former Senior Adviser to The Carlyle Group (financial services), March 2008-September 2008; former Governance Consultant to Bridgewater Associates (investment company), January 2013-December 2015 | Audit, Contracts, Investment Review Committee |
Statement of Additional Information – January 1, 2024 | 109 |
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 and Other Relevant Board Experience |
Committee Assignments |
Catherine
James Paglia c/o Columbia Management Investment Advisers, LLC, 290 Congress Street Boston, MA 02210 1952 |
Trustee
since 2004 |
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. | 161 | Director, Valmont Industries, Inc. (irrigation systems manufacturer), since 2012; Trustee, Carleton College (on the Investment Committee), since 1987; Trustee, Carnegie Endowment for International Peace (on the Investment Committee), since 2009 | Compliance, Contracts, Board Governance, Investment Review Committee |
Natalie
A. Trunow c/o Columbia Management Investment Advisers, LLC, 290 Congress Street Boston, MA 02210 1967 |
Trustee
since 2020 |
Chief Executive Officer, Millennial Portfolio Solutions LLC (asset management and consulting services) January 2016-January 2021; Non-executive Member of the Investment Committee and Valuation Committee, Sarona Asset Management Inc. (private equity firm) since September 2019; Advisor, Horizon Investments (asset management and consulting services), August 2018-January 2022; Advisor, Paradigm Asset Management, November 2016-January 2022; Consultant to Independent Trustees of CFVIT and CFST I from September 2016 to June 2020 with respect to CFVIT and to December 2020 with respect to CFST I; Director of Investments/Consultant, Casey Family Programs, April 2016-November 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 | 159 | Independent Director, (Investment Committee), Health Services for Children with Special Needs, Inc., 2010-2021; Independent Director, (Executive Committee and Chair, Audit Committee), Consumer Credit Counseling Services (formerly Guidewell Financial Solutions), since 2016; Independent Director (Investment Committee), Sarona Asset Management, since 2019 | Compliance, Contracts, Investment Review Committee |
Sandra
L. Yeager c/o Columbia Management Investment Advisers, LLC, 290 Congress Street Boston, MA 02210 1964 |
Trustee
since 2017 |
Retired; President and founder, Hanoverian Capital, LLC (SEC registered investment advisor firm), 2008-2016; Managing Director, DuPont Capital, 2006-2008; Managing Director, Morgan Stanley Investment Management, 2004-2006; Senior Vice President, Alliance Bernstein, 1990-2004 | 161 | Former Director, NAPE (National Alliance for Partnerships in Equity) Education Foundation, October 2016-October 2020; Advisory Board, Jennersville YMCA, since 2022 | Audit, Contracts, Investment Review Committee |
Statement of Additional Information – January 1, 2024 | 110 |
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 and Other Relevant Board Experience | Committee Assignments |
Daniel
J. Beckman c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1962 |
Trustee since November 2021 and President since June 2021 | President and Principal Executive Officer of the Columbia Funds, since June 2021; Vice President, Columbia Management Investment Advisers, LLC, since April 2015; formerly, Vice President – Head of North America Product, Columbia Management Investment Advisers, LLC, April 2015 – December 2023; President and Principal Executive Officer, Columbia Acorn/Wanger Funds, since July 2021 | 161 | Director, Ameriprise Trust Company, since October 2016; Director, Columbia Management Investment Distributors, Inc., since November 2018; Board of Governors, Columbia Wanger Asset Management, LLC, since January 2022 | None |
* | The term “Columbia Funds Complex” as used herein includes Columbia Seligman Premium Technology Growth Fund, Tri-Continental Corporation and each series of Columbia Funds Series Trust (CFST), Columbia Funds Series Trust I (CFST I), Columbia Funds Series Trust II (CFST II), Columbia ETF Trust I (CET I), Columbia ETF Trust II (CET II), Columbia Funds Variable Insurance Trust (CFVIT) and Columbia Funds Variable Series Trust II (CFVST II). Messrs. Batejan, Beckman, Gallagher, Hacker and Moffett and Mses. Blatz, Carlton, Carrig, Flynn, Paglia and Yeager serve as directors of Columbia Seligman Premium Technology Growth Fund and Tri-Continental Corporation. |
** | Interested person (as defined under the 1940 Act) by reason of being an officer, director, security holder and/or employee of the Investment Manager or Ameriprise Financial. |
Statement of Additional Information – January 1, 2024 | 111 |
Name,
Address and Year of Birth |
Position
and Year First Appointed to Position for any Fund in the Columbia Funds Complex or a Predecessor Thereof |
Principal Occupation(s) During Past Five Years |
Michael
G. Clarke 290 Congress Street Boston, MA 02210 1969 |
Chief Financial Officer and Principal Financial Officer (2009) and Senior Vice President (2019) | Senior Vice President and North America Head of Operations & Investor Services, Columbia Management Investment Advisers, LLC, since June 2023 (previously Senior Vice President and Head of Global Operations & Investor Services, March 2022 - June 2023, Vice President, Head of North America Operations, and Co-Head of Global Operations, June 2019 - February 2022 and Vice President – Accounting and Tax, May 2010 - May 2019); senior officer of Columbia Funds and affiliated funds, since 2002. Director, Ameriprise Trust Company, since June 2023. |
Joseph
Beranek 5890 Ameriprise Financial Center Minneapolis, MN 55474 1965 |
Treasurer and Chief Accounting Officer (Principal Accounting Officer) (2019) and Principal Financial Officer (2020), CFST, CFST I, CFST II, CFVIT and CFVST II; Assistant Treasurer, CET I and CET II | Vice President – Mutual Fund Accounting and Financial Reporting, Columbia Management Investment Advisers, LLC, since December 2018 and March 2017, respectively. |
Marybeth
Pilat 290 Congress Street Boston, MA 02210 1968 |
Treasurer and Chief Accounting Officer (Principal Accounting Officer) and Principal Financial Officer (2020) for CET I and CET II; Assistant Treasurer, CFST, CFST I, CFST II, CFVIT and CFVST II | Vice President – Product Pricing and Administration, Columbia Management Investment Advisers, LLC, since May 2017. |
William
F. Truscott 290 Congress Street Boston, MA 02210 1960 |
Senior Vice President (2001) | Formerly, Trustee/Director of Columbia Funds Complex or legacy funds, November 2001 - 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 Investments. |
Christopher
O. Petersen 5228 Ameriprise Financial Center Minneapolis, MN 55474 1970 |
Senior Vice President and Assistant Secretary (2021) | Formerly, Trustee/Director of funds within the Columbia Funds Complex, July 1, 2020 - November 22, 2021; Senior Vice President and Assistant General Counsel, Ameriprise Financial, Inc., since September 2021 (previously Vice President and Lead Chief Counsel, January 2015 - September 2021); formerly, President and Principal Executive Officer of the Columbia Funds, 2015 - 2021; officer of Columbia Funds and affiliated funds, since 2007. |
Statement of Additional Information – January 1, 2024 | 112 |
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 |
Thomas
P. McGuire 290 Congress Street Boston, MA 02210 1972 |
Senior Vice President and Chief Compliance Officer (2012) | Vice President – Asset Management Compliance, Ameriprise Financial, Inc., since May 2010; Chief Compliance Officer, Columbia Acorn/Wanger Funds, since December 2015; formerly, Chief Compliance Officer, Ameriprise Certificate Company, September 2010 - September 2020. |
Ryan
C. Larrenaga 290 Congress Street Boston, MA 02210 1970 |
Senior Vice President (2017), Chief Legal Officer (2017) and Secretary (2015) | Vice President and Chief Counsel, Ameriprise Financial, Inc. since August 2018 (previously Vice President and Group Counsel, August 2011 - August 2018); Chief Legal Officer, Columbia Acorn/Wanger Funds, since September 2020; officer of Columbia Funds and affiliated funds since 2005. |
Michael
E. DeFao 290 Congress Street Boston, MA 02210 1968 |
Vice President (2011) and Assistant Secretary (2010) | Vice President and Chief Counsel, Ameriprise Financial, Inc., since May 2010; Vice President, Chief Legal Officer and Assistant Secretary, Columbia Management Investment Advisers, LLC, since October 2021 (previously Vice President and Assistant Secretary, May 2010 - September 2021). |
Lyn
Kephart-Strong 5903 Ameriprise Financial Center Minneapolis, MN 55474 1960 |
Vice President (2015) | Vice President, Global Investment Operations Services, Columbia Management Investment Advisers, LLC, since 2010; Director (since January 2007) and President (since October 2014), Columbia Management Investment Services Corp.; Director (since December 2017) and President (since January 2017), Ameriprise Trust Company. |
Statement of Additional Information – January 1, 2024 | 113 |
Statement of Additional Information – January 1, 2024 | 114 |
Statement of Additional Information – January 1, 2024 | 115 |
Statement of Additional Information – January 1, 2024 | 116 |
Statement of Additional Information – January 1, 2024 | 117 |
Fiscal Period | Audit Committee |
Compliance Committee |
Contracts Committee |
Board
Governance Committee |
Investment Review Committee |
For
the fiscal year ending August 31, 2023 |
5 | 5 | 5 | 6 | 5 |
Batejan | Blatz | Carlton | Carrig | Connaughton | Darragh | Flynn | |
Aggregate Dollar Range of Equity Securities in all Funds in the Columbia Funds Complex Overseen by the Trustee | E | E | E(a) | E(a) | E | E | E(a) |
Gallagher | Hacker | Lukitsh | Moffett | Paglia | Trunow | Yeager | |
Aggregate Dollar Range of Equity Securities in all Funds in the Columbia Funds Complex Overseen by the Trustee | E(a) | E | E | E(a) | E(a) | E(a) | E(a) |
(a) | Includes the value of compensation payable under a Deferred Compensation Plan that is determined as if the amounts deferred had been invested, as of the date of deferral, in shares of one or more Funds in the Columbia Funds Complex overseen by the Trustee as specified by the Trustee. |
Fund | Beckman |
Aggregate
Dollar Range of Equity Securities in all Funds in the Columbia Funds Complex Overseen by the Trustee |
E(a) |
(a) | With respect to Mr. Beckman, this amount includes compensation payable under a Deferred Compensation Plan administered by Ameriprise Financial. |
Statement of Additional Information – January 1, 2024 | 118 |
Trustee Name | Total
Cash Compensation from the Columbia Funds Complex Paid to Trustee(a) |
Amount
Deferred from Total Compensation(b) |
George S. Batejan | $481,000 | $24,050 |
Kathleen Blatz | $483,000 | $0 |
Pamela G. Carlton | $567,667 | $19,600 |
Janet Langford Carrig | $500,000 | $500,000 |
J. Kevin Connaughton | $501,000 | $0 |
Olive M. Darragh | $483,000 | $152,400 |
Patricia M. Flynn | $466,000 | $0 |
Brian J. Gallagher | $505,000 | $252,500 |
Douglas A. Hacker | $469,000 | $0 |
Nancy T. Lukitsh | $474,000 | $0 |
David M. Moffett | $463,000 | $178,000 |
Catherine James Paglia | $469,000 | $90,000 |
Minor M. Shaw(c) | $188,000 | $94,000 |
Natalie A. Trunow | $468,000 | $285,240 |
Sandra L. Yeager | $496,000 | $248,000 |
(a) | Includes any portion of cash compensation Trustees elected to defer during the fiscal period. |
(b) | The Trustees may elect to defer a portion of the total cash compensation payable. Additional information regarding the Deferred Compensation Plan is described below. |
(c) | Ms. Shaw served as Trustee until December 31, 2022, and stopped receiving compensation from the Funds and the Columbia Funds Complex as of such date. |
Statement of Additional Information – January 1, 2024 | 119 |
Aggregate Compensation from Fund Independent Trustees | ||||||||
Fund | Batejan(a) | Blatz | Carlton(b) | Carrig(c) | Connaughton | Darragh(d) | Flynn(e) | Gallagher(f) |
For Funds with fiscal period ending August 31 | ||||||||
Integrated
Large Cap Growth Fund Amount Deferred |
$1,153 $58 |
$1,158 $0 |
$1,366 $47 |
$1,212 $1,212 |
$1,226 $0 |
$1,182 $373 |
$1,116 $0 |
$1,212 $606 |
Integrated
Large Cap Value Fund Amount Deferred |
$1,187 $59 |
$1,190 $0 |
$1,401 $50 |
$1,248 $1,248 |
$1,262 $0 |
$1,217 $389 |
$1,149 $0 |
$1,247 $623 |
Integrated
Small Cap Growth Fund Amount Deferred |
$963 $48 |
$967 $0 |
$1,141 $39 |
$1,012 $1,012 |
$1,025 $0 |
$988 $312 |
$933 $0 |
$1,012 $506 |
Pyrford
International Stock Fund Amount Deferred |
$1,384 $69 |
$1,390 $0 |
$1,639 $56 |
$1,454 $1,454 |
$1,472 $0 |
$1,419 $447 |
$1,340 $0 |
$1,454 $727 |
Ultra
Short Duration Municipal Bond Fund Amount Deferred |
$1,138 $57 |
$1,141 $0 |
$1,342 $48 |
$1,196 $1,196 |
$1,210 $0 |
$1,166 $373 |
$1,101 $0 |
$1,195 $597 |
Aggregate Compensation from Fund Independent Trustees | |||||||||||
Fund | Hacker | Lukitsh | Moffett(g) | Paglia(h) | Shaw(i) | Trunow(j) | Yeager(k) | ||||
For Funds with fiscal period ending August 31 | |||||||||||
Integrated Large Cap Growth Fund Amount Deferred | $1,124 $0 |
$1,160 $0 |
$1,133 $437 |
$1,124 $215 |
$449 $224 |
$1,146 $699 |
$1,190 $595 |
||||
Integrated
Large Cap Value Fund Amount Deferred |
$1,155 $0 |
$1,193 $0 |
$1,166 $466 |
$1,155 $229 |
$479 $239 |
$1,179 $724 |
$1,225 $612 |
||||
Integrated
Small Cap Growth Fund Amount Deferred |
$939 $0 |
$969 $0 |
$947 $364 |
$939 $179 |
$374 $187 |
$957 $583 |
$994 $497 |
||||
Pyrford
International Stock Fund Amount Deferred |
$1,349 $0 |
$1,393 $0 |
$1,360 $519 |
$1,349 $255 |
$534 $267 |
$1,375 $837 |
$1,428 $714 |
||||
Ultra
Short Duration Municipal Bond Fund Amount Deferred |
$1,107 $0 |
$1,144 $0 |
$1,117 $445 |
$1,107 $219 |
$458 $229 |
$1,130 $693 |
$1,174 $587 |
(a) | As of September 30, 2023, the value of Mr. Batejan’s account under the deferred compensation plan was $44,236. |
(b) | As of September 30, 2023, the value of Ms. Carlton’s account under the deferred compensation plan was $1,314,946. |
(c) | As of September 30, 2023, the value of Ms. Carrig’s account under the deferred compensation plan was $5,295,657. |
(d) | As of September 30, 2023, the value of Ms. Darragh’s account under the deferred compensation plan was $515,148. |
(e) | As of September 30, 2023, the value of Ms. Flynn’s account under the deferred compensation plan was $3,279,054. |
(f) | As of September 30, 2023, the value of Mr. Gallagher’s account under the deferred compensation plan was $1,168,426. |
(g) | As of September 30, 2023, the value of Mr. Moffett’s account under the deferred compensation plan was $3,947,175. |
(h) | As of September 30, 2023, the value of Ms. Paglia’s account under the deferred compensation plan was $5,358,994. |
(i) | As of September 30, 2023, the value of Ms. Shaw’s account under the deferred compensation plan was $4,079,112. Ms. Shaw served as trustee until December 31, 2022, and stopped receiving compensation from the Funds and the Columbia Funds Complex as of such date. |
(j) | As of September 30, 2023, the value of Ms. Trunow’s account under the deferred compensation plan was $1,414,581. |
(k) | As of September 30, 2023, the value of Ms. Yeager’s account under the deferred compensation plan was $1,200,651. |
Statement of Additional Information – January 1, 2024 | 120 |
Statement of Additional Information – January 1, 2024 | 121 |
Statement of Additional Information – January 1, 2024 | 122 |
Statement of Additional Information – January 1, 2024 | 123 |
Total Brokerage Commissions | |||
Fund | |||
For Funds with fiscal period ending August 31 | 2023 | 2022 | 2021 |
Integrated Large Cap Growth Fund | $43,302 | $59,833 | $87,630 |
Integrated Large Cap Value Fund | 88,441 | 118,912 | 117,019 |
Integrated Small Cap Growth Fund | 62,389 | 69,890 | 104,018 |
Pyrford International Stock Fund | 59,009 | 194,497 | 90,717 |
Ultra Short Duration Municipal Bond Fund | 0 | 0 | 0 |
Statement of Additional Information – January 1, 2024 | 124 |
Brokerage Directed for research | ||
Fund | Amount of Transactions | Amount of Commissions Imputed or Paid |
For Funds with fiscal period ending August 31 | ||
Integrated Large Cap Growth Fund | $79,447,655 | $9,466 |
Integrated Large Cap Value Fund | 24,815,638 | 7,215 |
Integrated Small Cap Growth Fund | 8,652,484 | 3,921 |
Pyrford International Stock Fund | 0 | 0 |
Ultra Short Duration Municipal Bond Fund | 0 | 0 |
Statement of Additional Information – January 1, 2024 | 125 |
Fund | Issuer | Value
of securities owned at end of fiscal period |
For Funds with fiscal period ending August 31 | ||
Integrated Large Cap Growth Fund | The Charles Schwab Corp. | $2,273,608 |
Integrated Large Cap Value Fund | Citigroup, Inc. | $2,004,340 |
The Charles Schwab Corp. | $1,847,787 | |
Integrated Small Cap Growth Fund | None | N/A |
Pyrford International Stock Fund | None | N/A |
Ultra Short Duration Municipal Bond Fund | None | N/A |
Statement of Additional Information – January 1, 2024 | 126 |
Fund | Predecessor Fund | For periods prior to: | ||
Integrated Large Cap Growth Fund | BMO Large-Cap Growth Fund | January 21, 2022 | ||
Integrated Large Cap Value Fund | BMO Large-Cap Value Fund | January 21, 2022 | ||
Integrated Small Cap Growth Fund | BMO Small-Cap Growth Fund | January 21, 2022 | ||
Pyrford International Stock Fund | BMO Pyrford International Stock Fund | December 10, 2021 | ||
Ultra Short Duration Municipal Bond Fund | BMO Ultra Short Tax-Free Fund | January 21, 2022 |
■ | For equity, alternative and flexible funds (other than the equity funds identified below) and funds-of-funds (equity and fixed income), a complete list of Fund portfolio holdings as of month-end is posted approximately, but no earlier than, 15 calendar days after such month-end. |
■ | For Columbia Small Cap Growth Fund and Columbia Variable Portfolio – Small Company Growth Fund, a complete list of Fund portfolio holdings as of month-end is posted approximately, but no earlier than, 30 calendar days after such month-end. |
■ | For fixed-income Funds (other than money market funds), a complete list of Fund portfolio holdings as of calendar quarter-end is posted approximately, but no earlier than, 30 calendar days after such quarter-end. |
Statement of Additional Information – January 1, 2024 | 127 |
■ | For money market Funds, a complete list of Fund portfolio holdings as of month-end is posted no later than five business days after such month-end. Such month-end holdings are continuously available on the website for at least six months, together with a link to an SEC webpage where a user of the website may obtain access to the Fund’s most recent 12 months of publicly available filings on Form N-MFP. Money market Fund portfolio holdings information posted on the website, at minimum, includes with respect to each holding, the name of the issuer, the category of investment (e.g., Treasury debt, government agency debt, asset backed commercial paper, structured investment vehicle note), the CUSIP number (if any), the principal amount, the maturity date (as determined under Rule 2a-7 for purposes of calculating weighted average maturity), the final maturity date (if different from the maturity date previously described), coupon or yield and the value. The money market Funds will also disclose on the website its overall weighted average maturity, weighted average life maturity, percentage of daily liquid assets, percentage of weekly liquid assets and daily inflows and outflows. |
Statement of Additional Information – January 1, 2024 | 128 |
Identity of Recipient | Conditions/restrictions on use of information | Frequency
of Disclosure | ||
Recipients under arrangements with the Funds or Investment Manager: | ||||
Abel Noser | Used for evaluating and assessing trading activity, execution and practices. | Quarterly | ||
Allvue Systems Company | Used for front office trading, bank loan analytics, and compliance. | Daily | ||
Axioma Inc. | Used as a hosted risk analytics platform designed for research, portfolio holdings, investment oversight and strategy development. | Daily | ||
Bank of New York Mellon | Used as the accounting system of record for ETFs. | Daily |
Statement of Additional Information – January 1, 2024 | 129 |
Identity of Recipient | Conditions/restrictions on use of information | Frequency
of Disclosure | ||
BlackRock, Inc. | Used for front office trading and analytics, back office settlements, portfolio accounting and reconciliations, collateral management, portfolio risk oversight, compliance mandate monitoring and portfolio performance calculations. | Daily | ||
Bloomberg Finance L.P. | Used for portfolio analytics, statistical analysis and independent research. Used for executing cleared swaps electronically. Used for executing fixed income trades. Used for evaluating and assessing trading activity, execution and practices in respect of market abuse regulatory requirements. | Daily | ||
Bolger, Inc. | Used for commercial printing. | As Needed | ||
Bond Connect Company Limited | Used for executing Chinese fixed income trades. | Ad Hoc | ||
Boston Investors Communications Group, LLC | Used for writing services that require disclosing portfolio holdings in advance of their dissemination to the general public. | As Needed | ||
Capital Markets Services Group | Used for intraday post-trade information when equity exposures (either via futures or options trades) are modified beyond certain limits for certain Funds. | As Needed | ||
Castine LLC | Used for facilitating the evaluation of commission rates and providing flexible commission reporting. | Daily | ||
Catapult ME, Inc. | Used for commercial printing. | As Needed | ||
Citigroup, Inc. | Used for mortgage decision support. | Daily | ||
Compliance Solutions Strategies LLC | Used for reporting returns and analytics to client facing materials. Used for data storage and as a transformation solution to support Enhanced Client Regulatory Reporting and Fund Detail reporting. Used as a form reporting solution to support the Alternative Investment Fund Managers Directive and Money Market Funds Regulation quarterly reporting obligations. Used as a data dissemination service to support the dissemination of industry standard templates to entities authorized by Columbia Threadneedle Investments. | Monthly or Quarterly | ||
Deloitte Haskins & Sells, LLP | Used for calculating foreign capital gains tax accruals irrespective of the tax lot relief method. | Weekly | ||
Donnelley Financial Solutions | Used for providing EDGAR filing and typesetting services, and printing of prospectuses, factsheets, annual and semi-annual reports. | As Needed | ||
DS Graphics, Inc. | Used for printing of prospectuses, factsheets, annual and semi-annual reports. | As Needed | ||
Depository Trust & Clearing Corporation | Used for providing trade allocation and acceptance services. | Daily | ||
Elevation Exhibits & Events | Used for trade show exhibits. | As Needed |
Statement of Additional Information – January 1, 2024 | 130 |
Identity of Recipient | Conditions/restrictions on use of information | Frequency
of Disclosure | ||
Equifax, Inc. | Used for ensuring Columbia Management does not violate the Office of Foreign Assets Control sanction requirements. | Daily | ||
Ernst & Young, LLP | Used for analyzing passive foreign investment company investments. | Monthly | ||
FactSet Research Systems, Inc. | Used for calculating portfolio performance attribution, portfolio analytics, data for fundamental research, and general market news and analysis. Used for executing equity and convertible trades. | Daily | ||
Fidelity National Information Services, Inc. | Used as a portfolio accounting system. | Daily | ||
FMR LLC | Used for advertising review. | Daily | ||
Harte-Hanks, Inc. | Used for printing of prospectuses, factsheets, annual and semi-annual reports. | As Needed | ||
ICE Data Indices, LLC | Used for calculation and dissemination of ETF intraday indicative values. | Daily | ||
Institutional Shareholder Services Inc. | Used for proxy voting administration and research on proxy matters. | Daily | ||
Intex Solutions Inc. | Used for providing mortgage analytics. | As Needed | ||
Investment Company Institute | Disclosure of Form N-PORT data. | As Needed | ||
Investortools, Inc. | Used for municipal bond analytics, research, and decision support. | As Needed | ||
JDP Marketing Services | Used for writing Columbia Funds shareholder reports, quarterly fund commentaries and communications, including shareholder letters and management’s discussion of Columbia Funds’ performance. | As Needed | ||
John Roberts, Inc. | Used for commercial printing. | As Needed | ||
Kessler Topaz Meltzer & Check, LLP | Used for monitoring eligibility to participate in global litigation matters. | Monthly | ||
Kynex, Inc. | Used for providing portfolio attribution reports for Convertible Securities Fund. Used for portfolio analytics. | Daily | ||
MarketAxess | Used for executing fixed income trades. | Daily | ||
Merrill Corporation | Used for printing of prospectuses, factsheets, annual and semi-annual reports. | As Needed | ||
Morningstar Investment Services, LLC | Used for independent research and ranking of funds. Used for statistical analysis. | As Needed | ||
R. R. Donnelley & Sons Co. | Used for printing of prospectuses, factsheets, annual and semi-annual reports. Used for commercial printing. | As Needed | ||
Refinitiv | Used for executing foreign currency exchange orders. Used for executing fixed income trades. | Daily | ||
RegEd, Inc. | Used for reviewing external and certain internal communications prior to dissemination. | Daily |
Statement of Additional Information – January 1, 2024 | 131 |
Identity of Recipient | Conditions/restrictions on use of information | Frequency
of Disclosure | ||
SIX Group Services Ltd. | Used as a trade repository authorized by the Swiss regulator to submit holdings supporting the SIX Financial Market Infrastructure Act derivative reporting requirement. | Daily | ||
S.W.I.F.T. Scrl. | Used for sending trade messages via SWIFT to custodian. | Daily | ||
Taylor Impressions | Used for commercial printing. | As Needed | ||
TC ICAP | Used for executing equity and fixed income trades. | Daily | ||
Thomson Reuters Corp. | Used for statistical analysis. | As Needed | ||
Trepp, Inc. | Used for insights about commercial mortgage-backed securities mortgage bonds. | Daily | ||
Trumid Holdings, LLC | Used for executing fixed income trades. | Ad Hoc | ||
Virtu Financial | Used for executing equity trades. | Daily | ||
Visions, Inc. | Used for commercial printing. | As Needed | ||
Wilshire Associates, Inc. | Used for providing performance attribution reporting. | Daily |
Identity of Recipient | Conditions/restrictions on use of information | Frequency
of Disclosure | ||
Recipients under arrangements with subadvisers: | ||||
Institutional Shareholder Services, Inc. | Used by the subadviser for proxy voting administration and research services. | Weekly |
Statement of Additional Information – January 1, 2024 | 132 |
Statement of Additional Information – January 1, 2024 | 133 |
* | Ameriprise Financial affiliate |
Statement of Additional Information – January 1, 2024 | 134 |
* | Ameriprise Financial affiliate |
Statement of Additional Information – January 1, 2024 | 135 |
Statement of Additional Information – January 1, 2024 | 136 |
Statement of Additional Information – January 1, 2024 | 137 |
Statement of Additional Information – January 1, 2024 | 138 |
Statement of Additional Information – January 1, 2024 | 139 |
Statement of Additional Information – January 1, 2024 | 140 |
Statement of Additional Information – January 1, 2024 | 141 |
Statement of Additional Information – January 1, 2024 | 142 |
Statement of Additional Information – January 1, 2024 | 143 |
Statement of Additional Information – January 1, 2024 | 144 |
Statement of Additional Information – January 1, 2024 | 145 |
Total Capital Loss Carryovers | Amount not Expiring | Amount not Expiring | |
For Funds with fiscal period ending August 31 | Short-term | Long-term | |
Integrated Large Cap Growth Fund | $4,226,040 | $4,226,040 | $0 |
Integrated Small Cap Growth Fund | $5,234,184 | $4,952,244 | $281,940 |
Ultra Short Duration Municipal Bond Fund | $2,887,883 | $984,197 | $1,903,686 |
Statement of Additional Information – January 1, 2024 | 146 |
Statement of Additional Information – January 1, 2024 | 147 |
Statement of Additional Information – January 1, 2024 | 148 |
Statement of Additional Information – January 1, 2024 | 149 |
Statement of Additional Information – January 1, 2024 | 150 |
Statement of Additional Information – January 1, 2024 | 151 |
Statement of Additional Information – January 1, 2024 | 152 |
Statement of Additional Information – January 1, 2024 | 153 |
Statement of Additional Information – January 1, 2024 | 154 |
Statement of Additional Information – January 1, 2024 | 155 |
Statement of Additional Information – January 1, 2024 | 156 |
Statement of Additional Information – January 1, 2024 | 157 |
Statement of Additional Information – January 1, 2024 | 158 |
Name and Address | Share Class | Percentage of Class | Percentage of Fund |
C/O
GWP US ADVISORS SEI PRIVATE TRUST COMPANY 1 FREEDOM VALLEY DR OAKS PA 19456-9989 |
Class Inst2 | 20.76% | N/A |
CHARLES
SCHWAB & CO INC ATTENTION MUTUAL FUND 101 MONTGOMERY ST SAN FRANCISCO CA 94104-4151 |
Class A | 14.36% | N/A |
COLUMBIA
MGMT INVESTMENT ADVISOR LLC ATTN KATRINA MACBAIN 50807 AMERIPRISE FINANCIAL CTR MINNEAPOLIS MN 55474-0508 |
Class R | 100.00% | N/A |
DEBRA
L NIGH 8448 PROSPECT DR KEWASKUM WI 53040-9478 |
Class Adv | 6.06% | N/A |
EMPOWER
TRUST CO 8515 E ORCHARD RD # 2T2 GREENWOOD VLG CO 80111-5002 |
Class Adv | 12.00% | N/A |
LPL FINANCIAL 9785 TOWNE CENTRE DR SAN DIEGO CA 92121-1968 |
Class A | 6.96% | N/A |
Class Inst | 96.05% | ||
MARIL
& CO FBO 98 C/O RELIANCE TRUST COMPANY WI MAILCODE: BD1N - ATTN: MF 4900 W BROWN DEER RD MILWAUKEE WI 53223-2422 |
Class Adv | 15.82% | N/A |
MATRIX
TRUST COMPANY 717 17TH ST STE 1300 DENVER CO 80202-3304 |
Class Adv | 10.07% | N/A |
MITRA
& CO FBO 62 C/O RELIANCE TRUST COMPANY WI 4900 WEST BROWN DEER ROAD MAILCODE: BD1N - ATTN: MF MILWAUKEE WI 53223-2422 |
Class Adv | 14.02% | N/A |
Statement of Additional Information – January 1, 2024 | 159 |
Name and Address | Share Class | Percentage of Class | Percentage of Fund |
NATIONAL FINANCIAL SERVICES LLC FEBO CUSTOMERS MUTUAL FUNDS 200 LIBERTY STREET 1WFC NEW YORK NY 10281-1015 |
Class Adv | 14.52% | 44.83% |
Class Inst3 | 95.38% | ||
PERSHING LLC 1 PERSHING PLZ JERSEY CITY NJ 07399-0002 |
Class C | 25.12% | N/A |
Class Inst2 | 78.05% | ||
UMB
BANK NA CUST 403B PLAN FBO RICHARD B WILLIAMS 546 STATE ROUTE 3013 MESHOPPEN PA 18630-8439 |
Class C | 8.86% | N/A |
UMB
BANK NA CUST IRA FBO MICHAEL J JOY 4 CARLTON RD SWANZEY NH 03446-2412 |
Class C | 57.35% | N/A |
Name and Address | Share Class | Percentage of Class | Percentage of Fund |
ASCENSUS
TRUST COMPANY FBO PO BOX 10758 FARGO ND 58106-0758 |
Class Inst3 | 99.72% | N/A |
C/O
BMO HARRIS SWP SEI PRIVATE TRUST COMPANY 1 FREEDOM VALLEY DR OAKS PA 19456-9989 |
Class Adv | 32.97% | N/A |
CHARLES SCHWAB & CO INC ATTENTION MUTUAL FUND 101 MONTGOMERY ST SAN FRANCISCO CA 94104-4151 |
Class A | 35.48% | N/A |
Class Adv | 12.73% | ||
COLUMBIA MGMT INVESTMENT ADVISOR LLC ATTN KATRINA MACBAIN 50807 AMERIPRISE FINANCIAL CTR MINNEAPOLIS MN 55474-0508 |
Class C | 14.98% | N/A |
Class R | 100.00% | ||
LPL FINANCIAL 9785 TOWNE CENTRE DR SAN DIEGO CA 92121-1968 |
Class A | 10.10% | N/A |
Class Adv | 7.11% | ||
Class Inst | 93.52% | ||
MATRIX
TRUST COMPANY AS AGENT FOR SOUTHERN BANK HUMPHREY FARRINGTON&MCCLAIN PC 401K PO BOX 800 MARYVILLE MO 64468-0800 |
Class Adv | 5.20% | N/A |
NATIONAL FINANCIAL SERVICES LLC FEBO CUSTOMERS MUTUAL FUNDS 200 LIBERTY STREET 1WFC NEW YORK NY 10281-1015 |
Class A | 10.05% | N/A |
Class Adv | 26.11% | ||
PERSHING
LLC 1 PERSHING PLZ JERSEY CITY NJ 07399-0002 |
Class Inst2 | 99.58% | N/A |
UMB
BANK NA CUST 403B PLAN FBO RICHARD B WILLIAMS 546 STATE ROUTE 3013 MESHOPPEN PA 18630-8439 |
Class C | 85.02% | N/A |
Statement of Additional Information – January 1, 2024 | 160 |
Name and Address | Share Class | Percentage of Class | Percentage of Fund |
AUL
AMERICAN GROUP RETIREMENT ANNUITY ONE AMERICAN SQUARE PO BOX 368 INDIANAPOLIS IN 46206-0368 |
Class A | 5.35% | N/A |
CHARLES SCHWAB & CO INC ATTENTION MUTUAL FUND 101 MONTGOMERY ST SAN FRANCISCO CA 94104-4151 |
Class A | 11.28% | N/A |
Class Adv | 5.71% | ||
COLUMBIA MGMT INVESTMENT ADVISOR LLC ATTN KATRINA MACBAIN 50807 AMERIPRISE FINANCIAL CTR MINNEAPOLIS MN 55474-0508 |
Class C | 18.06% | N/A |
Class Inst2 | 11.98% | ||
Class Inst3 | 15.48% | ||
Class R | 100.00% | ||
LPL FINANCIAL 9785 TOWNE CENTRE DR SAN DIEGO CA 92121-1968 |
Class A | 6.59% | 50.79% |
Class Adv | 15.14% | ||
Class Inst | 99.42% | ||
Class Inst2 | 88.02% | ||
MATRIX
TRUST COMPANY HARRIS INVESTMENT MANAGEMENT INCENT PO BOX 52129 PHOENIX AZ 85072-2129 |
Class Adv | 28.26% | N/A |
NATIONAL FINANCIAL SERVICES LLC FEBO CUSTOMERS MUTUAL FUNDS 200 LIBERTY STREET 1WFC NEW YORK NY 10281-1015 |
Class A | 29.53% | N/A |
Class Adv | 34.74% | ||
PERSHING
LLC 1 PERSHING PLZ JERSEY CITY NJ 07399-0002 |
Class Inst3 | 84.52% | N/A |
UMB
BANK NA CUST 403B PLAN FBO RICHARD B WILLIAMS 546 STATE ROUTE 3013 MESHOPPEN PA 18630-8439 |
Class C | 35.10% | N/A |
UMB
BANK NA CUST IRA FBO MICHAEL J JOY 4 CARLTON RD SWANZEY NH 03446-2412 |
Class C | 46.84% | N/A |
Name and Address | Share Class | Percentage of Class | Percentage of Fund |
SEI PRIVATE TRUST COMPANY 1 FREEDOM VALLEY DR OAKS PA 19456-9989 |
Class Adv | 18.78% | N/A |
Class Inst3 | 15.61% | ||
CAPINCO C/O US BANK NA PO BOX 1787 MILWAUKEE WI 53201-1787 |
Class Adv | 18.38% | N/A |
Class Inst2 | 58.36% | ||
CHARLES SCHWAB & CO INC ATTENTION MUTUAL FUND 101 MONTGOMERY ST SAN FRANCISCO CA 94104-4151 |
Class A | 35.33% | N/A |
Class Adv | 8.22% | ||
Class Inst2 | 40.31% |
Statement of Additional Information – January 1, 2024 | 161 |
Name and Address | Share Class | Percentage of Class | Percentage of Fund |
COLUMBIA MGMT INVESTMENT ADVISOR LLC ATTN KATRINA MACBAIN 50807 AMERIPRISE FINANCIAL CTR MINNEAPOLIS MN 55474-0508 |
Class C | 100.00% | N/A |
Class R | 100.00% | ||
DCGT
AS TTEE AND/OR CUST FBO PLIC VARIOUS RETIREMENT PLANS OMNIBUS ATTN NPIO TRADE DESK 711 HIGH ST DES MOINES IA 50392-0001 |
Class Inst3 | 22.78% | N/A |
EMPOWER
TRUST FBO 8515 E ORCHARD RD # 2T2 GREENWOOD VLG CO 80111-5002 |
Class Inst3 | 7.58% | N/A |
J
P MORGAN SECURITIES LLC OMNIBUS ACCOUNT FOR THE EXCLUSIVE BENEFIT OF CUSTOMERS 4 CHASE METROTECH CENTER 3RD FL MUTUAL FUND DEPARTMENT BROOKLYN NY 11245-0003 |
Class Inst3 | 6.40% | N/A |
LPL FINANCIAL 9785 TOWNE CENTRE DR SAN DIEGO CA 92121-1968 |
Class A | 5.10% | N/A |
Class Inst | 98.38% | ||
MATRIX
TRUST COMPANY 717 17TH ST STE 1300 DENVER CO 80202-3304 |
Class Inst3 | 6.61% | N/A |
NATIONAL FINANCIAL SERVICES LLC FEBO CUSTOMERS MUTUAL FUNDS 200 LIBERTY STREET 1WFC NEW YORK NY 10281-1015 |
Class A | 36.02% | N/A |
Class Adv | 31.08% | ||
NORTHERN
TRUST COMPANY FBO PACKAGING CORP OF AMERICA MASTER RETIREMENT TRUST 50 LASALLE ST CHICAGO IL 60675-0001 |
Class Inst3 | 25.60% | N/A |
PERSHING
LLC 1 PERSHING PLZ JERSEY CITY NJ 07399-0002 |
Class A | 7.77% | N/A |
PRINCIPAL
LIFE INS COMPANY CUST FBO PFG OMNIBUS WRAPPED AND CUSTOM ATTN PLIC PROXY COORDINATOR FUNDS 711 HIGH ST DES MOINES IA 50392-0001 |
Class Inst3 | 11.86% | N/A |
RELIANCE
TRUST COMPANY FBO COMERICA NON-EB R/R PO BOX 570788 ATLANTA GA 30357-3114 |
Class Adv | 9.90% | N/A |
SAXON
& CO FBO PO BOX 94597 CLEVELAND OH 44101-4597 |
Class Adv | 6.16% | N/A |
Statement of Additional Information – January 1, 2024 | 162 |
Name and Address | Share Class | Percentage of Class | Percentage of Fund |
CHARLES SCHWAB & CO INC ATTENTION MUTUAL FUND 101 MONTGOMERY ST SAN FRANCISCO CA 94104-4151 |
Class A | 8.39% | N/A |
Class Adv | 12.47% | ||
COLUMBIA
MGMT INVESTMENT ADVISOR LLC ATTN KATRINA MACBAIN 50807 AMERIPRISE FINANCIAL CTR MINNEAPOLIS MN 55474-0508 |
Class Inst3 | 100.00% | N/A |
DAVID
R BEGALKE JOAN I BEGALKE JT WROS 2024 KOHLER MEMORIAL DR SHEBOYGAN WI 53081-3124 |
Class A | 15.27% | N/A |
GERALD
L SCHWARZ 1549 WHITETAIL LN CEDARBURG WI 53012-8955 |
Class A | 12.76% | N/A |
KEYBANK
NA PO BOX 94871 CLEVELAND OH 44101-4871 |
Class Adv | 61.59% | 58.16% |
LPL
FINANCIAL 9785 TOWNE CENTRE DR SAN DIEGO CA 92121-1968 |
Class A | 5.24% | N/A |
NATIONAL FINANCIAL SERVICES LLC FEBO CUSTOMERS MUTUAL FUNDS 200 LIBERTY STREET 1WFC NEW YORK NY 10281-1015 |
Class A | 17.77% | N/A |
Class Adv | 12.24% | ||
PATRICIA
A FRAZIER TTEE DANIEL G FRAZIER TTEE FRAZIER REVOCABLE TRUST U/A 10042 N HOLMES CT MEQUON WI 53092-5453 |
Class A | 14.49% | N/A |
RELIANCE
TRUST COMPANY FBO CALAMP DC PLAN PO BOX 48529 ATLANTA GA 30362-1529 |
Class Inst | 92.98% | N/A |
SUSAN
A ERICKSON 3705 W MULBERRY DR MEQUON WI 53092-2759 |
Class A | 10.41% | N/A |
Statement of Additional Information – January 1, 2024 | 163 |
Statement of Additional Information – January 1, 2024 | 164 |
Statement of Additional Information – January 1, 2024 | A-1 |
Statement of Additional Information – January 1, 2024 | A-2 |
Statement of Additional Information – January 1, 2024 | A-3 |
Long-Term Rating | Short-Term Rating |
AAA | F1+ |
AA+ | F1+ |
AA | F1+ |
AA– | F1+ |
A+ | F1 or F1+ |
A | F1 or F1+ |
A– | F2 or F1 |
BBB+ | F2 or F1 |
BBB | F3 or F2 |
BBB– | F3 |
BB+ | B |
BB | B |
BB– | B |
B+ | B |
B | B |
B– | B |
CCC+ / CCC / CCC– | C |
CC | C |
C | C |
RD / D | RD / D |
Statement of Additional Information – January 1, 2024 | A-4 |
Statement of Additional Information – January 1, 2024 | A-5 |
■ | There is a missed interest payment, principal payment, or preferred dividend payment, as applicable, on a rated obligation which is unlikely to be recovered. |
■ | The rated entity files for protection from creditors, is placed into receivership, or is closed by regulators such that a missed payment is likely to result. |
■ | The rated entity seeks and completes a distressed exchange, where existing rated obligations are replaced by new obligations with a diminished economic value. |
Statement of Additional Information – January 1, 2024 | A-6 |
■ | There is a missed interest payment, principal payment, or preferred dividend payment, as applicable, on a rated obligation which is unlikely to be recovered. |
■ | The rated entity files for protection from creditors, is placed into receivership, or is closed by regulators such that a missed payment is likely to result. |
■ | The rated entity seeks and completes a distressed exchange, where existing rated obligations are replaced by new obligations with a diminished economic value. |
Long-Term Rating | Short-Term Rating |
AAA AA+ AA AA– |
K1+ |
A+ | K1+ or K1 |
A | K1 |
A– | K1 or K2 |
BBB+ | K2 |
BBB | K2 or K3 |
BBB– | K3 |
BB+ BB BB– B+ B B– |
B |
CCC+ CCC CCC– CC C |
C |
D | D |
Statement of Additional Information – January 1, 2024 | A-7 |
1 Overview of key principles and approach | B-1 |
2 Role, structure and operation of boards | B-2 |
3 Board committees | B-5 |
4 Compensation | B-6 |
5 Audit, risk and control | B-7 |
6 Shareholder rights | B-8 |
7 Reporting | B-9 |
8 Social and environmental factors | B-11 |
9 Voting matters | B-13 |
■ | An empowered and effective board and management; |
■ | Appropriate checks and balances in company management structures; |
■ | Effective systems of internal control and risk management covering all material risks, including environmental, social and corporate governance (ESG) issues; |
■ | A commitment to promoting throughout the company a culture of transparency and accountability that is grounded in sound business ethics; |
■ | Compensation policies that reward the creation of long-term shareholder value through the achievement of corporate objectives; and |
■ | A commitment to protecting the rights and interests of all. |
Statement of Additional Information – January 1, 2024 | B-1 |
■ | Roles and independence; |
■ | Competence, objectivity and refreshment; |
■ | Effective functioning of boards; and |
■ | Communication and accountability to shareholders. |
Statement of Additional Information – January 1, 2024 | B-2 |
■ | Not have close family ties with the company’s advisers, directors or senior employees; |
■ | Not serve as a board committee chair if they have served on the board for a period of time that may hinder their independence of thought; |
■ | Not hold cross-directorships or have significant links with other directors (see “Interlocking boards” below); |
■ | Not be major shareholders or representatives of any special interest group, including government representatives in cases of state ownership or representatives of affiliated companies; |
■ | Have no significant commercial involvement with the company as professional advisers, major suppliers or customers; |
■ | Not be entitled to performance-related pay, stock options, pensions, or benefit from large donations to charitable causes of their choice; |
■ | Not normally hold other directorships in companies in a closely-related industry so as to avoid potential conflicts of interest. |
Statement of Additional Information – January 1, 2024 | B-3 |
Statement of Additional Information – January 1, 2024 | B-4 |
Statement of Additional Information – January 1, 2024 | B-5 |
Statement of Additional Information – January 1, 2024 | B-6 |
Statement of Additional Information – January 1, 2024 | B-7 |
Statement of Additional Information – January 1, 2024 | B-8 |
■ | Comprehensive, covering the strategic direction of the business and all material issues, including any significant changes in the regulatory context and key ESG issues; |
■ | Balanced, with even-handed treatment of both good and bad aspects of a company; |
■ | Transparent, with narrative text that leverages plain language, and accounting notes that provide investors with a full understanding of the circumstances underlying the reported figures; |
■ | Underpinned by Key Performance Indicators (KPIs) that drive business performance, are comparable over time, and are supported by detailed information on how they are calculated; |
■ | Consistent and joined-up with other company reporting, including the compensation policy and corporate social responsibility or sustainability reporting. |
Statement of Additional Information – January 1, 2024 | B-9 |
Statement of Additional Information – January 1, 2024 | B-10 |
Statement of Additional Information – January 1, 2024 | B-11 |
Statement of Additional Information – January 1, 2024 | B-12 |
Statement of Additional Information – January 1, 2024 | B-13 |
i | The following guidelines do not apply to Pyrford International Ltd. |
ii | Such interlocking relationships can raise concerns when there is an imbalance of power between the two directors. |
iii | https://www.fsb-tcfd.org/publications/final-recommendations-report/. |
iv | UK Modern Slavery Act, OECD Guidelines for Multinational Enterprises. |
v | EU corporate mandatory human rights due diligence, Swiss mandatory human rights DD (focus weapons), German Supply Chain Code |
vi | See vote disclosure webpage here. |
Statement of Additional Information – January 1, 2024 | B-14 |
■ | Current or retired fund Board members, officers or employees of the funds or Columbia Management or its affiliates(b); |
■ | Current or retired Ameriprise Financial Services, LLC (Ameriprise Financial Services) financial advisors and employees of such financial advisors(b); |
■ | Registered representatives and other employees of affiliated or unaffiliated financial intermediaries (and their immediate family members and related trusts or other entities owned by the foregoing) having a selling agreement with the Distributor(b); |
■ | Registered broker-dealer firms that have entered into a dealer agreement with the Distributor may buy Class A shares without paying a front-end sales charge for their investment account only; |
■ | Portfolio managers employed by subadvisers of the funds(b); |
■ | Partners and employees of outside legal counsel to the funds or to the funds’ directors or trustees who regularly provide advice and services to the funds, or to their directors or trustees; |
■ | Direct rollovers (i.e., rollovers of fund shares and not reinvestments of redemption proceeds) from qualified employee benefit plans, provided that the rollover involves a transfer to Class A shares in the same fund; |
■ | Employees or partners of Columbia Wanger Asset Management, LLC; |
■ | Separate accounts established and maintained by an insurance company which are exempt from registration under Section 3(c)(11); |
■ | At a fund’s discretion, front-end sales charges may be waived for shares issued in plans of reorganization, such as mergers, asset acquisitions and exchange offers, to which the fund is a party; |
Statement of Additional Information – January 1, 2024 | S-1 |
■ | Purchases by registered representatives and employees (and their immediate family members and related trusts or other entities owned by the foregoing (referred to as “Related Persons”)) of Ameriprise Financial Services and its affiliates; provided that with respect to employees (and their Related Persons) of an affiliate of Ameriprise Financial, such persons must make purchases through an account held at Ameriprise Financial or its affiliates. |
■ | Through or under a wrap fee product or other investment product sponsored by a financial intermediary that charges an account management fee or other managed agency/asset allocation accounts or programs involving fee-based compensation arrangements that have or that clear trades through a financial intermediary that has a selling agreement with the Distributor; |
■ | Through state sponsored college savings plans established under Section 529 of the Internal Revenue Code; |
■ | Through banks, trust companies and thrift institutions, acting as fiduciaries; or |
■ | Through “employee benefit plans” created under Section 401(a), 401(k), 457 and 403(b), and qualified deferred compensation plans, that have a plan level or omnibus account maintained with the Fund or the Transfer Agent and transact directly with the Fund or the Transfer Agent through a third-party administrator or third-party recordkeeper. This waiver does not apply to accounts held through commissionable brokerage platforms. |
* | Any shareholder with a Direct-at-Fund account (i.e., shares held directly with the Fund through the Transfer Agent) that is eligible to purchase shares without a front-end sales charge by virtue of having qualified for a previous waiver may continue to purchase shares without a front-end sales charge if they no longer qualify under a category described in the prospectus or in this section. Otherwise, you must qualify for a front-end sales charge waiver described in the prospectus or in this section. |
(a) | The Funds no longer accept investments from new or existing investors in Class E shares, except by existing Class E and former Class F shareholders who opened and funded their account prior to September 22, 2006 that may continue to invest in Class E shares (Class F shares automatically converted to Class E shares on July 17, 2017). See the prospectus offering Class E shares of Columbia Large Cap Growth Fund (a series of CFST I) for details. |
(b) | Including their spouses or domestic partners, children or step-children, parents, step-parents or legal guardians, and their spouse’s or domestic partner’s parents, step-parents, or legal guardians. |
■ | In the event of the shareholder’s death; |
■ | For which no sales commission or transaction fee was paid to an authorized financial intermediary at the time of purchase; |
■ | Purchased through reinvestment of dividend and capital gain distributions; |
■ | That result from required minimum distributions taken from retirement accounts upon the shareholder’s attainment of the qualified age based on applicable IRS regulations; |
■ | That result from returns of excess contributions made to retirement plans or individual retirement accounts, so long as the financial intermediary returns the applicable portion of any commission paid by the Distributor; |
■ | For Class A shares: initially purchased by an employee benefit plan; |
■ | For Class C and Class E shares: initially purchased by an employee benefit plan that are not connected with a plan level termination; |
■ | In connection with the Fund’s Small Account Policy (as described in the prospectus); and |
■ | Issued in connection with plans of reorganization, including but not limited to mergers, asset acquisitions and exchange offers, to which the fund is a party and at the fund’s discretion. |
■ | Any client of Bank of America or one of its subsidiaries buying shares through an asset management company, trust, fiduciary, retirement plan administration or similar arrangement with Bank of America or the subsidiary. |
■ | Any employee (or family member of an employee) of Bank of America or one of its subsidiaries. |
Statement of Additional Information – January 1, 2024 | S-2 |
■ | Any investor buying shares through a Columbia Management state tuition plan organized under Section 529 of the Internal Revenue Code. |
■ | Any trustee or director (or family member of a trustee or director) of a fund distributed by the Distributor. |
■ | Other than for the Multi-Manager Strategies Funds, any shareholder (as well as any family member of a shareholder or person listed on an account registration for any account of the shareholder) who holds Class Inst shares of a fund distributed by the Distributor is eligible to purchase Class Inst shares of other funds distributed by the Distributor, subject to a minimum initial investment of $2,000 ($1,000 for IRAs). If the account in which the shareholder holds Class Inst shares is not eligible to purchase additional Class Inst shares, the shareholder may purchase Class Inst shares in an account maintained directly with the Transfer Agent, subject to a minimum initial investment of $2,000 ($1,000 for IRAs). |
Statement of Additional Information – January 1, 2024 | S-3 |