COLUMBIA FUNDS SERIES TRUST
STATEMENT OF ADDITIONAL INFORMATION
September 1, 2021
Columbia Funds Series Trust
Columbia California Intermediate Municipal Bond Fund
Class A: NACMX Class Adv: CCMRX Class C: CCICX
Class Inst: NCMAX Class Inst2: CNBRX Class Inst3: CCBYX
Columbia Capital Allocation Moderate
Aggressive Portfolio
Class A: NBIAX Class Adv: CGBRX Class C: NBICX
Class Inst: NBGPX Class Inst2: CLHRX Class Inst3: CPHNX
Class R: CLBRX Class V: CGGTX  
Columbia Capital Allocation Moderate
Conservative Portfolio
Class A: NLGAX Class Adv: CHWRX Class C: NIICX
Class Inst: NIPAX Class Inst2: CLRRX Class Inst3: CPDGX
Class R: CLIRX    
Columbia Convertible Securities Fund
Class A: PACIX Class Adv: COVRX Class C: PHIKX
Class Inst: NCIAX Class Inst2: COCRX Class Inst3: CSFYX
Class R: CVBRX    
Columbia Large Cap Enhanced Core Fund
Class A: NMIAX Class Adv: CECFX Class Inst: NMIMX
Class Inst2: CLNCX Class Inst3: CECYX Class R: CCERX
Columbia Large Cap Growth Opportunity Fund
Class A: NFEAX Class Adv: CSFRX Class C: NFECX
Class Inst: NFEPX Class Inst2: CADRX Class Inst3: CLRYX
Class R: CLGPX    
Columbia Large Cap Index Fund
Class A: NEIAX Class Inst: NINDX Class Inst2: CLXRX
Class Inst3: CLPYX    
Columbia Mid Cap Index Fund
Class A: NTIAX Class Inst: NMPAX Class Inst2: CPXRX
Class Inst3: CMDYX    
Columbia North Carolina Intermediate Municipal Bond Fund
Class A: NNCIX Class Adv: CNCEX Class C: NNINX
Class Inst: NNIBX Class Inst3: CNCYX  
Columbia Overseas Value Fund
Class A: COAVX Class Adv: COSVX Class C: COCVX
Class Inst: COSZX Class Inst2: COSSX Class Inst3: COSYX
Class R: COVUX    
Columbia Select Large Cap Equity Fund
Class A: NSGAX Class Adv: CLSRX Class C: NSGCX
Class Inst: NSEPX Class Inst2: CLCRX Class Inst3: CLEYX
Class R§: —    
Columbia Select Mid Cap Value Fund
Class A: CMUAX Class Adv: CFDRX Class C: CMUCX
Class Inst: NAMAX Class Inst2: CVERX Class Inst3: CMVYX
Class R: CMVRX    
Columbia Short Term Bond Fund
Class A: NSTRX Class Adv: CMDRX Class C: NSTIX
Class Inst: NSTMX Class Inst2: CCBRX Class Inst3: CSBYX
Class R: CSBRX    
Columbia Short Term Municipal Bond Fund
Class A: NSMMX Class Adv: CSMTX Class C: NSMUX
Class Inst: NSMIX Class Inst2: CNNRX Class Inst3: CSMYX
Columbia Small Cap Index Fund
Class A: NMSAX Class Inst: NMSCX Class Inst2: CXXRX
Class Inst3: CSPYX    
Columbia Small Cap Value Fund II
Class A: COVAX Class Adv: CLURX Class C: COVCX
Class Inst: NSVAX Class Inst2: CRRRX Class Inst3: CRRYX
Class R: CCTRX    
Columbia South Carolina Intermediate Municipal Bond Fund
Class A: NSCIX Class Adv: CSICX Class C: NSICX
Class Inst: NSCMX Class Inst3: CSOYX  
Columbia Virginia Intermediate Municipal Bond Fund
Class A: NVAFX Class Adv: CAIVX Class C: NVRCX
Class Inst: NVABX Class Inst3: CVAYX  
Columbia Funds Series Trust I
Columbia Adaptive Retirement 2020 Fund
Class Adv: CARGX Class Inst3: CARHX
Columbia Adaptive Retirement 2025 Fund
Class Adv: CAAHX Class Inst3: CAIDX
Columbia Adaptive Retirement 2030 Fund
Class Adv: CARLX Class Inst3: CARMX
Columbia Adaptive Retirement 2035 Fund
Class Adv: CARJX Class Inst3: CAIEX
Columbia Adaptive Retirement 2040 Fund
Class Adv: CAROX Class Inst3: CARQX
Columbia Adaptive Retirement 2045 Fund
Class Adv: CARPX Class Inst3: CAIHX
Columbia Adaptive Retirement 2050 Fund
Class Adv: CARSX Class Inst3: CARUX
Columbia Adaptive Retirement 2055 Fund
Class Adv: CARFX Class Inst3: CAIJX
Columbia Adaptive Retirement 2060 Fund
Class Adv: CARKX Class Inst3: CARVX
Columbia Adaptive Risk Allocation Fund
Class A: CRAAX Class Adv: CARRX Class C: CRACX
Class Inst: CRAZX Class Inst2: CRDRX Class Inst3: CARYX
Class R: CRKRX    
Columbia Balanced Fund
Class A: CBLAX Class Adv: CBDRX Class C: CBLCX
Class Inst: CBALX Class Inst2: CLREX Class Inst3: CBDYX
Class R: CBLRX    
Columbia Bond Fund
Class A: CNDAX Class Adv: CNDRX Class C: CNDCX
Class Inst: UMMGX Class Inst2: CNFRX Class Inst3: CBFYX
Class R: CBFRX Class V: CNDTX  
Columbia Connecticut Intermediate Municipal Bond Fund
Class A: LCTAX Class Adv: CCTMX Class C: LCTCX
Class Inst: SCTEX Class Inst3: CCTYX Class V: GCBAX
Columbia Contrarian Core Fund
Class A: LCCAX Class Adv: CORRX Class C: LCCCX
Class Inst: SMGIX Class Inst2: COFRX Class Inst3: COFYX
Class R: CCCRX Class V: SGIEX  
Columbia Corporate Income Fund
Class A: LIIAX Class Adv: CIFRX Class C: CIOCX
Class Inst: SRINX Class Inst2: CPIRX Class Inst3: CRIYX
Columbia Dividend Income Fund
Class A: LBSAX Class Adv: CVIRX Class C: LBSCX
Class Inst: GSFTX Class Inst2: CDDRX Class Inst3: CDDYX
Class R: CDIRX Class V: GEQAX  

Columbia Emerging Markets Fund
Class A: EEMAX Class Adv: CEMHX Class C: EEMCX
Class Inst: UMEMX Class Inst2: CEKRX Class Inst3: CEKYX
Class R: CEMRX    
Columbia Global Technology Growth Fund
Class A: CTCAX Class Adv: CTYRX Class C: CTHCX
Class Inst: CMTFX Class Inst2: CTHRX Class Inst3: CGTUX
Columbia Greater China Fund
Class A: NGCAX Class Adv: CGCHX Class C: NGCCX
Class Inst: LNGZX Class Inst2: CGCRX Class Inst3: CGCYX
Columbia High Yield Municipal Fund
Class A: LHIAX Class Adv: CHIYX Class C: CHMCX
Class Inst: SRHMX Class Inst2: CHMYX Class Inst3: CHHYX
Columbia Intermediate Municipal Bond Fund
Class A: LITAX Class Adv: CIMRX Class C: LITCX
Class Inst: SETMX Class Inst2: CTMRX Class Inst3: CIMYX
Class V: GIMAX    
Columbia International Dividend Income Fund
Class A: CSVAX Class Adv: CGOLX Class C: CSRCX
Class Inst: CSVFX Class Inst2: CADPX Class Inst3: CLSYX
Class R: CSGRX    
Columbia Large Cap Growth Fund
Class A: LEGAX Class Adv: CCGRX Class C: LEGCX
Class E: CLGEX Class Inst: GEGTX Class Inst2: CLWFX
Class Inst3: CGFYX Class R: CGWRX Class V: GAEGX
Columbia Massachusetts Intermediate Municipal Bond Fund
Class A: LMIAX Class Adv: CMANX Class C: LMICX
Class Inst: SEMAX Class Inst2: CMAUX Class Inst3: CMMYX
Class V: GMBAX    
Columbia Mid Cap Growth Fund
Class A: CBSAX Class Adv: CPGRX Class C: CMCCX
Class Inst: CLSPX Class Inst2: CMGVX Class Inst3: CMGYX
Class R: CMGRX Class V: CBSTX  
Columbia Multi Strategy Alternatives Fund
Class A: CLAAX Class Adv: CLFUX Class C: CLABX
Class Inst: CLAZX Class Inst2: CLIVX Class Inst3: CLAYX
Class R: CRRLX    
Columbia New York Intermediate Municipal Bond Fund
Class A: LNYAX Class Adv: CNYIX Class C: LNYCX
Class Inst: GNYTX Class Inst2: CNYUX Class Inst3: CNYYX
Class V: GANYX    
Columbia Oregon Intermediate Municipal Bond Fund
Class A: COEAX Class Adv: CORMX Class C: CORCX
Class Inst: CMBFX Class Inst2: CODRX Class Inst3: CORYX
Columbia Real Estate Equity Fund
Class A: CREAX Class Adv: CRERX Class C: CRECX
Class Inst: CREEX Class Inst2: CRRVX Class Inst3: CREYX
Class R: CRSRX    
Columbia Select Large Cap Growth Fund
Class A: ELGAX Class Adv: CSRRX Class C: ELGCX
Class Inst: UMLGX Class Inst2: CGTRX Class Inst3: CCWRX
Class R: URLGX    
Columbia Small Cap Growth Fund
Class A: CGOAX Class Adv: CHHRX Class C: CGOCX
Class Inst: CMSCX Class Inst2: CSCRX Class Inst3: CSGYX
Class R: CCRIX    
Columbia Small Cap Value Fund I
Class A: CSMIX Class Adv: CVVRX Class C: CSSCX
Class Inst: CSCZX Class Inst2: CUURX Class Inst3: CSVYX
Class R: CSVRX    
Columbia Solutions Aggressive Portfolio
Columbia Solutions Conservative Portfolio
Columbia Strategic California Municipal Income Fund
Class A: CLMPX Class Adv: CCARX Class C: CCAOX
Class Inst: CCAZX Class Inst2: CCAUX Class Inst3: CCXYX
Columbia Strategic Income Fund
Class A: COSIX Class Adv: CMNRX Class C: CLSCX
Class Inst: LSIZX Class Inst2: CTIVX Class Inst3: CPHUX
Class R: CSNRX    
Columbia Strategic New York Municipal Income Fund
Class A: COLNX Class Adv: CNYEX Class C: CNYCX
Class Inst: CNYZX Class Inst2: CNYRX Class Inst3: CNTYX
Columbia Tax-Exempt Fund
Class A: COLTX Class Adv: CTERX Class C: COLCX
Class Inst: CTEZX Class Inst2: CADMX Class Inst3: CTEYX
Columbia Total Return Bond Fund
Class A: LIBAX Class Adv: CBNRX Class C: LIBCX
Class Inst: SRBFX Class Inst2: CTBRX Class Inst3: CTBYX
Class R: CIBRX    
Columbia U.S. Social Bond Fund
Class A: CONAX Class Adv: CONFX Class C: CONCX
Class Inst: CONZX Class Inst2: COVNX Class Inst3: CONYX
Columbia U.S. Treasury Index Fund
Class A: LUTAX Class C: LUTCX Class Inst: IUTIX
Class Inst2: CUTRX Class Inst3: CUTYX  
Columbia Ultra Short Term Bond Fund
Class A: CUSOX Class Adv: CUSHX Class Inst: CUSBX
Class Inst3: CMGUX    
Multi-Manager Alternative Strategies Fund
Class Inst: CZAMX    
Multi-Manager Directional Alternative Strategies Fund
Class Inst: CDAZX    
Multi-Manager Growth Strategies Fund
Class Inst: CZMGX Class Inst3: CABGX  
Multi-Manager International Equity Strategies Fund
Class Inst: CMIEX Class Inst3: CIEEX  
Multi-Manager Small Cap Equity Strategies Fund
Class Inst: CZMSX Class Inst3: CSCLX  
Multi-Manager Total Return Bond Strategies Fund
Class Inst: CTRZX Class Inst3: CTREX  
Multisector Bond SMA Completion Portfolio
MBSAX    
Overseas SMA Completion Portfolio
OSCBX    

Columbia Funds Series Trust II
Columbia Capital Allocation Aggressive Portfolio
Class A: AXBAX Class Adv: CPDAX Class C: RBGCX
Class Inst: CPAZX Class Inst2: CPANX Class Inst3: CPDIX
Class R: CPARX    
Columbia Capital Allocation Conservative Portfolio
Class A: ABDAX Class Adv: CPCYX Class C: RPCCX
Class Inst: CBVZX Class Inst2: CPAOX Class Inst3: CPDHX
Class R: CBVRX    
Columbia Capital Allocation Moderate Portfolio
Class A: ABUAX Class Adv: CPCZX Class C: AMTCX
Class Inst: CBMZX Class Inst2: CPAMX Class Inst3: CPDMX
Class R: CBMRX    
Columbia Commodity Strategy Fund
Class A: CCSAX Class Adv: CCOMX Class C: CCSCX
Class Inst: CCSZX Class Inst2: CADLX Class Inst3: CCFYX
Class R: CCSRX    
Columbia Disciplined Core Fund
Class A: AQEAX Class Adv: CLCQX Class C: RDCEX
Class Inst: CCRZX Class Inst2: RSIPX Class Inst3: CCQYX
Class R: CLQRX    
Columbia Disciplined Growth Fund
Class A: RDLAX Class Adv: CGQFX Class C: RDLCX
Class Inst: CLQZX Class Inst2: CQURX Class Inst3: CGQYX
Class R: CGQRX    
Columbia Disciplined Value Fund
Class A: RLCAX Class Adv: COLEX Class C: RDCCX
Class Inst: CVQZX Class Inst2: COLVX Class Inst3: COLYX
Class R: RLCOX Class V: CVQTX  
Columbia Dividend Opportunity Fund
Class A: INUTX Class Adv: CDORX Class C: ACUIX
Class Inst: CDOZX Class Inst2: RSDFX Class Inst3: CDOYX
Class R: RSOOX    
Columbia Emerging Markets Bond Fund
Class A: REBAX Class Adv: CEBSX Class C: REBCX
Class Inst: CMBZX Class Inst2: CEBRX Class Inst3: CEBYX
Class R: CMBRX    
Columbia Flexible Capital Income Fund
Class A: CFIAX Class Adv: CFCRX Class C: CFIGX
Class Inst: CFIZX Class Inst2: CFXRX Class Inst3: CFCYX
Class R: CFIRX    
Columbia Floating Rate Fund
Class A: RFRAX Class Adv: CFLRX Class C: RFRCX
Class Inst: CFRZX Class Inst2: RFRFX Class Inst3: CFRYX
Class R: CFRRX    
Columbia Global Opportunities Fund
Class A: IMRFX Class Adv: CSDRX Class C: RSSCX
Class Inst: CSAZX Class Inst2: CLNRX Class Inst3: CGOYX
Class R: CSARX    
Columbia Global Value Fund
Class A: IEVAX Class Adv: RSEVX Class C: REVCX
Class Inst: CEVZX Class Inst2: RSEYX Class Inst3: CEVYX
Class R: REVRX    
Columbia Government Money Market Fund
Class A: IDSXX Class C: RCCXX Class Inst: IDYXX
Class Inst2: CMRXX Class Inst3: CGMXX Class R: RVRXX
Columbia High Yield Bond Fund
Class A: INEAX Class Adv: CYLRX Class C: APECX
Class Inst: CHYZX Class Inst2: RSHRX Class Inst3: CHYYX
Class R: CHBRX    
Columbia Income Builder Fund
Class A: RBBAX Class Adv: CNMRX Class C: RBBCX
Class Inst: CBUZX Class Inst2: CKKRX Class Inst3: CIBYX
Class R: CBURX    
Columbia Income Opportunities Fund
Class A: AIOAX Class Adv: CPPRX Class C: RIOCX
Class Inst: CIOZX Class Inst2: CEPRX Class Inst3: CIOYX
Class R: CIORX    
Columbia Large Cap Value Fund
Class A: INDZX Class Adv: RDERX Class C: ADECX
Class Inst: CDVZX Class Inst2: RSEDX Class Inst3: CDEYX
Class R: RDEIX    
Columbia Limited Duration Credit Fund
Class A: ALDAX Class Adv: CDLRX Class C: RDCLX
Class Inst: CLDZX Class Inst2: CTLRX Class Inst3: CLDYX
Columbia Minnesota Tax-Exempt Fund
Class A: IMNTX Class Adv: CLONX Class C: RMTCX
Class Inst: CMNZX Class Inst2: CADOX Class Inst3: CMNYX
Columbia Mortgage Opportunities Fund
Class A: CLMAX Class Adv: CLMFX Class C: CLMCX
Class Inst: CLMZX Class Inst2: CLMVX Class Inst3: CMOYX
Columbia Overseas Core Fund
Class A: COSAX Class Adv: COSDX Class C: COSCX
Class Inst: COSNX Class Inst2: COSTX Class Inst3: COSOX
Class R: COSRX    
Columbia Quality Income Fund
Class A: AUGAX Class Adv: CUVRX Class C: AUGCX
Class Inst: CUGZX Class Inst2: CGVRX Class Inst3: CUGYX
Class R: CUGUX    
Columbia Select Global Equity Fund
Class A: IGLGX Class Adv: CSGVX Class C: RGCEX
Class Inst: CGEZX Class Inst2: RGERX Class Inst3: CSEYX
Class R: CGERX    
Columbia Select Large Cap Value Fund
Class A: SLVAX Class Adv: CSERX Class C: SVLCX
Class Inst: CSVZX Class Inst2: SLVIX Class Inst3: CSRYX
Class R: SLVRX    
Columbia Select Small Cap Value Fund
Class A: SSCVX Class Adv: CSPRX Class C: SVMCX
Class Inst: CSSZX Class Inst2: SSVIX Class Inst3: CSSYX
Class R: SSVRX    
Columbia Seligman Global Technology Fund
Class A: SHGTX Class Adv: CCHRX Class C: SHTCX
Class Inst: CSGZX Class Inst2: SGTTX Class Inst3: CGTYX
Class R: SGTRX    
Columbia Seligman Technology and Information Fund
Class A: SLMCX Class Adv: SCIOX Class C: SCICX
Class Inst: CCIZX Class Inst2: SCMIX Class Inst3: CCOYX
Class R: SCIRX    
Columbia Strategic Municipal Income Fund
Class A: INTAX Class Adv: CATRX Class C: RTCEX
Class Inst: CATZX Class Inst2: CADNX Class Inst3: CATYX
Multi-Manager Value Strategies Fund
Class Inst: CZMVX Class Inst3: CVSDX  
§ This share class is not currently available for purchase.
Certain share classes in the table above, and throughout this SAI, are referred to using their abbreviated form. These full share class names are as follows: Advisor Class (Class Adv); Institutional Class (Class Inst); Institutional 2 Class (Class Inst2); and Institutional 3 Class (Class Inst3).
Unless the context indicates otherwise, references herein to “each Fund,” “the Fund,” “a Fund,” “the Funds” or “Funds” refer to each Fund listed above.

This Statement of Additional Information (SAI) is not a prospectus, is not a substitute for reading any prospectus and is intended to be read in conjunction with each Fund’s current prospectus (as amended or supplemented), the date of which may be found in the section of this SAI entitled About the Trusts. The most recent annual report for each Fund identified in the table below (as applicable), which includes the Fund’s audited financial statements for its most recent fiscal period, is incorporated herein by reference.
Copies of the Funds’ current prospectuses and annual and semiannual reports (once available, as applicable) may be obtained without charge by writing Columbia Management Investment Services Corp., P.O. Box 219104, Kansas City, MO 64121-9104, by calling Columbia Funds at 800.345.6611 or by visiting the Columbia Funds’ website at columbiathreadneedleus.com.
Shareholder Reports
Trust, Fund Name and Fiscal Year End: Shareholder Report:
January 31  
Columbia Fund Series Trust
Columbia Capital Allocation Moderate Aggressive Portfolio
Columbia Capital Allocation Moderate Conservative Portfolio
Annual Report
Columbia Fund Series Trust II
Columbia Capital Allocation Aggressive Portfolio
Columbia Capital Allocation Conservative Portfolio
Columbia Capital Allocation Moderate Portfolio
Columbia Income Builder Fund
Annual Report
February 28/29  
Columbia Fund Series Trust
Columbia Convertible Securities Fund
Columbia Large Cap Enhanced Core Fund
Columbia Large Cap Growth Opportunity Fund
Columbia Large Cap Index Fund
Columbia Mid Cap Index Fund
Columbia Overseas Value Fund
Columbia Select Large Cap Equity Fund
Columbia Select Mid Cap Value Fund
Columbia Small Cap Index Fund
Columbia Small Cap Value Fund II
Annual Report
Columbia Fund Series Trust II
Columbia Global Value Fund
Columbia Overseas Core Fund
Annual Report
March 31  
Columbia Fund Series Trust
Columbia Short Term Bond Fund
Annual Report
Columbia Fund Series Trust I
Columbia Adaptive Retirement 2020 Fund
Columbia Adaptive Retirement 2025 Fund
Columbia Adaptive Retirement 2030 Fund
Columbia Adaptive Retirement 2035 Fund
Columbia Adaptive Retirement 2040 Fund
Columbia Adaptive Retirement 2045 Fund
Columbia Adaptive Retirement 2050 Fund
Columbia Adaptive Retirement 2055 Fund
Columbia Adaptive Retirement 2060 Fund
Columbia Select Large Cap Growth Fund
Columbia Solutions Aggressive Portfolio
Columbia Solutions Conservative Portfolio
Multi-Manager Growth Strategies Fund
Annual Report

Trust, Fund Name and Fiscal Year End: Shareholder Report:
April 30  
Columbia Fund Series Trust
Columbia California Intermediate Municipal Bond Fund
Columbia North Carolina Intermediate Municipal Bond Fund
Columbia Short Term Municipal Bond Fund
Columbia South Carolina Intermediate Municipal Bond Fund
Columbia Virginia Intermediate Municipal Bond Fund
Annual Report
Columbia Fund Series Trust I
Columbia Bond Fund
Columbia Corporate Income Fund
Columbia Small Cap Value Fund I
Columbia Total Return Bond Fund
Columbia U.S. Treasury Index Fund
Multi-Manager Directional Alternative Strategies Fund
Annual Report
May 31  
Columbia Fund Series Trust I
Columbia Adaptive Risk Allocation Fund
Columbia Dividend Income Fund
Columbia High Yield Municipal Fund
Columbia Multi Strategy Alternatives Fund
Annual Report
Columbia Fund Series Trust II
Columbia Commodity Strategy Fund
Columbia Dividend Opportunity Fund
Columbia Flexible Capital Income Fund
Columbia High Yield Bond Fund
Columbia Large Cap Value Fund
Columbia Mortgage Opportunities Fund
Columbia Quality Income Fund
Columbia Select Large Cap Value Fund
Columbia Select Small Cap Value Fund
Columbia Seligman Technology and Information Fund
Multi-Manager Value Strategies Fund
Annual Report
July 31  
Columbia Fund Series Trust I
Columbia Large Cap Growth Fund
Columbia Oregon Intermediate Municipal Bond Fund
Columbia Tax-Exempt Fund
Columbia Ultra Short Term Bond Fund
Columbia U.S. Social Bond Fund
Annual Report
Columbia Fund Series Trust II
Columbia Disciplined Core Fund
Columbia Disciplined Growth Fund
Columbia Disciplined Value Fund
Columbia Floating Rate Fund
Columbia Global Opportunities Fund
Columbia Government Money Market Fund
Columbia Income Opportunities Fund
Columbia Limited Duration Credit Fund
Columbia Minnesota Tax-Exempt Fund
Columbia Strategic Municipal Fund
Annual Report

Trust, Fund Name and Fiscal Year End: Shareholder Report:
August 31  
Columbia Fund Series Trust I
Columbia Balanced Fund
Columbia Contrarian Core Fund
Columbia Emerging Markets Fund
Columbia Global Technology Growth Fund
Columbia Greater China Fund
Columbia International Dividend Income Fund
Columbia Mid Cap Growth Fund
Columbia Small Cap Growth Fund
Columbia Strategic Income Fund
Multi-Manager Alternative Strategies Fund
Multi-Manager International Equity Strategies Fund
Multi-Manager Small Cap Equity Strategies Fund
Multi-Manager Total Return Bond Fund
Multisector Bond SMA Completion Portfolio
Overseas SMA Completion Portfolio
Annual Report
Columbia Fund Series Trust II
Columbia Emerging Markets Bond Fund
Annual Report
October 31  
Columbia Fund Series Trust I
Columbia Connecticut Intermediate Municipal Bond Fund
Columbia Intermediate Municipal Bond Fund
Columbia Massachusetts Intermediate Municipal Bond Fund
Columbia New York Intermediate Municipal Bond Fund
Columbia Strategic California Municipal Income Fund
Columbia Strategic New York Municipal Income Fund
Annual Report
Columbia Fund Series Trust II
Columbia Select Global Equity Fund
Columbia Seligman Global Technology Fund
Annual Report
December 31  
Columbia Fund Series Trust I
Columbia Real Estate Equity Fund
Annual Report

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Statement of Additional Information – September 1, 2021 1

Table of Contents
SAI PRIMER
The SAI is a part of the Funds’ registration statement that is filed with the SEC. The registration statement includes the Funds’ prospectuses, the SAI and certain exhibits. The SAI, and any supplements to it, can be found online at columbiathreadneedleus.com and/or by accessing the SEC’s website at www.sec.gov.
For purposes of any electronic version of this SAI, all references to websites or universal resource locators (URLs), are intended to be inactive and are not meant to incorporate the contents of any such website or URL into this SAI, with the exception of the most recent annual report for each Fund, as noted on the front cover of this SAI.
The SAI generally provides additional information about the Funds that is not required to be in the Funds’ prospectuses. The SAI expands discussions of certain matters described in the Funds’ prospectuses and provides certain additional information about the Funds that may be of interest to some investors. Among other things, the SAI provides information about:
the organization of each Trust;
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.
Investors may find this information important and helpful. If you have any questions about the Funds, please call Columbia Funds at 800.345.6611 or contact your financial advisor.
Throughout this SAI, the term “financial intermediary” may refer, generally, to one or more of the selling agents and/or servicing agents that are authorized to sell and/or service shares of the Funds, which may include broker-dealers and financial advisors as well as firms that employ such broker-dealers and financial advisors, including, for example, brokerage firms, banks, investment advisers, third party administrators and other financial intermediaries, including Ameriprise Financial and its affiliates.
Each Fund typically updates its registration statement approximately four months after the end of its fiscal year, although in certain circumstances a Fund may update its registration statement sooner. Some of the information in this SAI is reported for a Fund as of the end of the Fund’s last fiscal year (or period) or during the Fund’s last fiscal year (or period). This is a reference to the fiscal year (or period) ending prior to the Fund’s last annual update, which may be fifteen months or more prior to the date of the SAI. See About the Trusts for each Fund’s fiscal year end and most recent prospectus date (i.e., the date of the Fund’s last annual update).
Columbia Threadneedle Investments is the global brand name of the Columbia and Threadneedle group of companies.
Before reading the SAI, you should consult the prospectus for the Fund as well as the Glossary below, which defines certain of the terms used in the SAI. Terms not defined in the Glossary below generally have the same meaning as otherwise ascribed in a Fund’s prospectus.
Glossary
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
Adaptive Retirement Funds The Funds within the Columbia Funds Complex that include “Adaptive Retirement” within the fund name.
AlphaSimplex AlphaSimplex Group, LLC
Ameriprise Financial Ameriprise Financial, Inc.
AQR AQR Capital Management, LLC
Arrowstreet Arrowstreet Capital, Limited Partnership
Baillie Gifford Baillie Gifford Overseas Limited
Statement of Additional Information – September 1, 2021 2

Table of Contents
Bank of America Bank of America Corporation
BMO BMO Asset Management Corp.
Board A Trust’s Board of Trustees
Boston Partners Boston Partners Global Investors, Inc.
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.
Capital Allocation Portfolios Collectively, Columbia Capital Allocation Aggressive Portfolio, Columbia Capital Allocation Conservative Portfolio, Columbia Capital Allocation Moderate Aggressive Portfolio, Columbia Capital Allocation Moderate Conservative Portfolio and Columbia Capital Allocation Moderate Portfolio
Causeway Causeway Capital Management LLC
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, 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 WAM Columbia Wanger Asset Management, LLC
Conestoga Conestoga Capital Advisors, LLC
Custodian JPMorgan Chase Bank, N.A.
DBRS DBRS Morningstar
DFA Dimensional Fund Advisors LP
Diamond Hill Diamond Hill Capital Management, Inc.
Distribution Agreement The Distribution Agreement between a 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.
DST DST Asset Manager Solutions, Inc.
FDIC Federal Deposit Insurance Corporation
FHLMC The Federal Home Loan Mortgage Corporation
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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
GNMA Government National Mortgage Association
Hotchkis & Wiley Hotchkis & Wiley Capital Management, LLC
Independent Trustees The Trustees of the Board who are not “interested persons” (as defined in the 1940 Act) of the Funds
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
    
JPMIM J.P. Morgan Investment Management Inc.
JPMorgan JPMorgan Chase Bank, N.A., the Funds’ custodian
KBRA Kroll Bond Rating Agency
LIBOR London Interbank Offered Rate*
Loomis Sayles Loomis, Sayles & Company, L.P.
Los Angeles Capital Los Angeles Capital Management LLC
Management Agreement The Management Agreements, as amended, if applicable, between a Trust, on behalf of the Funds, and the Investment Manager
    
Manulife Manulife Investment Management (US) LLC
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
PGIM PGIM, Inc., the asset management arm of Prudential Financial, Inc.
PwC PricewaterhouseCoopers LLP
QMA QMA LLC
REIT Real estate investment trust
REMIC Real estate mortgage investment conduit
RIC A “regulated investment company,” as such term is used in the Code
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
Statement of Additional Information – September 1, 2021 4

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SOFR Secured Overnight Financing Rate
Solution Series Funds Columbia Solutions Aggressive Portfolio, Columbia Solutions Conservative Portfolio, Multisector Bond SMA Completion Portfolio and Overseas SMA Completion Portfolio
Subadvisory Agreement The Subadvisory Agreement among the Trust on behalf of the Fund(s), the Investment Manager and a Fund’s investment subadviser(s), as the context may require
Subsidiary One or more wholly-owned subsidiaries of a Fund
TCW TCW Investment Management Company LLC
Threadneedle Threadneedle International Limited
Transfer Agency Agreement The Transfer and Dividend Disbursing Agent Agreement between a 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
Trusts CFST, CFST I and CFST II, the registered investment companies in the Columbia Funds Complex to which this SAI relates
Voya Voya Investment Management Co. LLC
Water Island Water Island Capital, LLC
WellsCap Wells Capital Management Incorporated
Winslow Capital Winslow Capital Management, LLC
* Please see “LIBOR Replacement Risk” in the “Information Regarding Risks” section for more information about the phaseout of LIBOR and related reference rates.
Throughout this SAI, the Funds are referred to as follows:
Fund Name:   Referred to as:
Columbia Adaptive Retirement 2020 Fund   Adaptive Retirement 2020 Fund
Columbia Adaptive Retirement 2025 Fund   Adaptive Retirement 2025 Fund
Columbia Adaptive Retirement 2030 Fund   Adaptive Retirement 2030 Fund
Columbia Adaptive Retirement 2035 Fund   Adaptive Retirement 2035 Fund
Columbia Adaptive Retirement 2040 Fund   Adaptive Retirement 2040 Fund
Columbia Adaptive Retirement 2045 Fund   Adaptive Retirement 2045 Fund
Columbia Adaptive Retirement 2050 Fund   Adaptive Retirement 2050 Fund
Columbia Adaptive Retirement 2055 Fund   Adaptive Retirement 2055 Fund
Columbia Adaptive Retirement 2060 Fund   Adaptive Retirement 2060 Fund
Columbia Adaptive Risk Allocation Fund   Adaptive Risk Allocation Fund
Columbia Balanced Fund   Balanced Fund
Columbia Bond Fund   Bond Fund
Columbia California Intermediate Municipal Bond Fund   CA Intermediate Municipal Bond Fund
Columbia Capital Allocation Aggressive Portfolio   Capital Allocation Aggressive Portfolio
Columbia Capital Allocation Conservative Portfolio   Capital Allocation Conservative Portfolio
Columbia Capital Allocation Moderate Aggressive Portfolio   Capital Allocation Moderate Aggressive Portfolio
Columbia Capital Allocation Moderate Conservative Portfolio   Capital Allocation Moderate Conservative Portfolio
Columbia Capital Allocation Moderate Portfolio   Capital Allocation Moderate Portfolio
Columbia Connecticut Intermediate Municipal Bond Fund   CT Intermediate Municipal Bond Fund
Columbia Contrarian Core Fund   Contrarian Core Fund
Columbia Commodity Strategy Fund   Commodity Strategy Fund
Columbia Convertible Securities Fund   Convertible Securities Fund
Columbia Corporate Income Fund   Corporate Income Fund
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Fund Name:   Referred to as:
Columbia Disciplined Core Fund   Disciplined Core Fund
Columbia Disciplined Growth Fund   Disciplined Growth Fund
Columbia Disciplined Value Fund   Disciplined Value Fund
Columbia Dividend Income Fund   Dividend Income Fund
Columbia Dividend Opportunity Fund   Dividend Opportunity Fund
Columbia Emerging Markets Fund   Emerging Markets Fund
Columbia Emerging Markets Bond Fund   Emerging Markets Bond Fund
Columbia Flexible Capital Income Fund   Flexible Capital Income Fund
Columbia Floating Rate Fund   Floating Rate Fund
Columbia Global Opportunities Fund   Global Opportunities Fund
Columbia Global Technology Growth Fund   Global Technology Growth Fund
Columbia Global Value Fund   Global Value Fund
Columbia Government Money Market Fund   Government Money Market Fund
Columbia Greater China Fund   Greater China Fund
Columbia High Yield Bond Fund   High Yield Bond Fund
Columbia High Yield Municipal Fund   High Yield Municipal Fund
Columbia Income Builder Fund   Income Builder Fund
Columbia Income Opportunities Fund   Income Opportunities Fund
Columbia Intermediate Municipal Bond Fund   Intermediate Municipal Bond Fund
Columbia International Dividend Income Fund   International Dividend Income Fund
Columbia Large Cap Enhanced Core Fund   Large Cap Enhanced Core Fund
Columbia Large Cap Growth Fund   Large Cap Growth Fund
Columbia Large Cap Growth Opportunity Fund   Large Cap Growth Opportunity Fund
Columbia Large Cap Index Fund   Large Cap Index Fund
Columbia Large Cap Value Fund   Large Cap Value Fund
Columbia Limited Duration Credit Fund   Limited Duration Credit Fund
Columbia Massachusetts Intermediate Municipal Bond Fund   MA Intermediate Municipal Bond Fund
Columbia Mid Cap Growth Fund   Mid Cap Growth Fund
Columbia Mid Cap Index Fund   Mid Cap Index Fund
Columbia Minnesota Tax-Exempt Fund   MN Tax-Exempt Fund
Columbia Mortgage Opportunities Fund   Mortgage Opportunities Fund
Columbia Multi Strategy Alternatives Fund   Multi Strategy Alternatives Fund
Columbia New York Intermediate Municipal Bond Fund   NY Intermediate Municipal Bond Fund
Columbia North Carolina Intermediate Municipal Bond Fund   NC Intermediate Municipal Bond Fund
Columbia Oregon Intermediate Municipal Bond Fund   OR Intermediate Municipal Bond Fund
Columbia Overseas Core Fund   Overseas Core Fund
Columbia Overseas Value Fund   Overseas Value Fund
Columbia Quality Income Fund   Quality Income Fund
Columbia Real Estate Equity Fund   Real Estate Equity Fund
Columbia Select Global Equity Fund   Select Global Equity Fund
Columbia Select Large Cap Equity Fund   Select Large Cap Equity Fund
Columbia Select Large Cap Growth Fund   Select Large Cap Growth Fund
Columbia Select Large Cap Value Fund   Select Large Cap Value Fund
Columbia Select Mid Cap Value Fund   Select Mid Cap Value Fund
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Fund Name:   Referred to as:
Columbia Select Small Cap Value Fund   Select Small Cap Value Fund
Columbia Seligman Global Technology Fund   Seligman Global Technology Fund
Columbia Seligman Technology and Information Fund   Seligman Technology and Information Fund
Columbia Short Term Bond Fund   Short Term Bond Fund
Columbia Short Term Municipal Bond Fund   Short Term Municipal Bond Fund
Columbia Small Cap Growth Fund   Small Cap Growth Fund
Columbia Small Cap Index Fund   Small Cap Index Fund
Columbia Small Cap Value Fund I   Small Cap Value Fund I
Columbia Small Cap Value Fund II   Small Cap Value Fund II
Columbia Solutions Aggressive Portfolio   Solutions Aggressive Portfolio
Columbia Solutions Conservative Portfolio   Solutions Conservative Portfolio
Columbia South Carolina Intermediate Municipal Bond Fund   SC Intermediate Municipal Bond Fund
Columbia Strategic California Municipal Income Fund   Strategic CA Municipal Income Fund
Columbia Strategic Income Fund   Strategic Income Fund
Columbia Strategic Municipal Income Fund   Strategic Municipal Income Fund
Columbia Strategic New York Municipal Income Fund   Strategic NY Municipal Income Fund
Columbia Tax-Exempt Fund   Tax-Exempt Fund
Columbia Total Return Bond Fund   Total Return Bond Fund
Columbia U.S. Social Bond Fund   U.S. Social Bond Fund
Columbia U.S. Treasury Index Fund   U.S. Treasury Index Fund
Columbia Ultra Short Term Bond Fund   Ultra Short Term Bond Fund
Columbia Virginia Intermediate Municipal Bond Fund   VA Intermediate Municipal Bond Fund
Multi-Manager Alternative Strategies Fund   MM Alternative Strategies Fund
Multi-Manager Directional Alternative Strategies Fund   MM Directional Alternative Strategies Fund
Multi-Manager Growth Strategies Fund   MM Growth Strategies Fund
Multi-Manager International Equity Strategies Fund   MM International Equity Strategies Fund
Multi-Manager Small Cap Equity Strategies Fund   MM Small Cap Equity Strategies Fund
Multi-Manager Total Return Bond Fund   MM Total Return Bond Strategies Fund
Multi-Manager Value Strategies Fund   MM Value Strategies Fund
Multisector Bond SMA Completion Portfolio   Multisector Bond SMA Completion Portfolio
Overseas SMA Completion Portfolio   Overseas SMA Completion Portfolio
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ABOUT THE Trusts
The Trusts are open-end management investment companies registered with the SEC under the 1940 Act with an address at 290 Congress Street, Boston, MA 02210.
CFST was organized as a Delaware business trust, a form of entity now known as a statutory trust, on October 22, 1999. On September 26, 2005, CFST changed its name from Nations Funds Trust to Columbia Funds Series Trust. CFST I was organized as a Massachusetts business trust on October 6, 1987. On October 13, 2003, CFST I changed its name from Liberty-Stein Roe Funds Municipal Trust to Columbia Funds Trust IX. On September 19, 2005, CFST I changed its name from Columbia Funds Trust IX to its current name. CFST II was organized as a Massachusetts business trust on January 27, 2006. On March 7, 2011, CFST II changed its name from RiverSource Series Trust to Columbia Funds Series Trust II and prior to September 11, 2007 was known as RiverSource Retirement Series Trust. The offering of Fund shares is registered under the 1933 Act.
Fund Fiscal Year End Prospectus Date Date Began
Operations*
Diversified** Fund Investment
Category***
Adaptive Retirement 2020 Fund March 31 8/1/2021 10/24/2017 Yes Fund-of-funds – alternative
Adaptive Retirement 2025 Fund March 31 8/1/2021 4/4/2018 Yes Fund-of-funds – alternative
Adaptive Retirement 2030 Fund March 31 8/1/2021 10/24/2017 Yes Fund-of-funds – alternative
Adaptive Retirement 2035 Fund March 31 8/1/2021 4/4/2018 Yes Fund-of-funds – alternative
Adaptive Retirement 2040 Fund March 31 8/1/2021 10/24/2017 Yes Fund-of-funds – alternative
Adaptive Retirement 2045 Fund March 31 8/1/2021 4/4/2018 Yes Fund-of-funds – alternative
Adaptive Retirement 2050 Fund March 31 8/1/2021 10/24/2017 Yes Fund-of-funds – alternative
Adaptive Retirement 2055 Fund March 31 8/1/2021 4/4/2018 Yes Fund-of-funds – alternative
Adaptive Retirement 2060 Fund March 31 8/1/2021 10/24/2017 Yes Fund-of-funds – alternative
Adaptive Risk Allocation Fund May 31 10/1/2020 6/19/2012 No Alternative
Balanced Fund August 31 1/1/2021 10/1/1991 Yes Equity/Taxable fixed-income
Bond Fund April 30 9/1/2021 1/9/1986 Yes Taxable fixed-income
CA Intermediate Municipal Bond Fund April 30 9/1/2021 8/19/2002 Yes Tax-exempt fixed income
Capital Allocation Aggressive Portfolio January 31 6/1/2021 3/4/2004 Yes Fund-of-funds – equity
Capital Allocation Conservative Portfolio January 31 6/1/2021 3/4/2004 Yes Fund-of-funds – fixed income
Capital Allocation Moderate Aggressive Portfolio January 31 6/1/2021 10/15/1996 Yes Fund-of-funds – equity
Capital Allocation Moderate Conservative Portfolio January 31 6/1/2021 10/15/1996 Yes Fund-of-funds – fixed income
Capital Allocation Moderate Portfolio January 31 6/1/2021 3/4/2004 Yes Fund-of-funds – equity
Commodity Strategy Fund May 31 10/1/2020 7/28/2011 Yes Equity
Contrarian Core Fund August 31 1/1/2021 12/14/1992 Yes Equity
Convertible Securities Fund February 28/29 7/1/2021 9/25/1987 Yes Equity
Corporate Income Fund April 30 9/1/2021 3/5/1986 Yes Taxable fixed-income
CT Intermediate Municipal
Bond Fund
October 31 3/1/2021 8/1/1994 No Tax-exempt fixed-income
Disciplined Core Fund July 31 12/1/2020 4/24/2003 Yes Equity
Disciplined Growth Fund July 31 12/1/2020 5/17/2007 Yes Equity
Disciplined Value Fund July 31 12/1/2020 8/1/2008 Yes Equity
Dividend Income Fund May 31 10/1/2020 3/4/1998 Yes Equity
Dividend Opportunity Fund May 31 10/1/2020 8/1/1988 Yes Equity
Emerging Markets Fund August 31 1/1/2021 1/2/1998 Yes Equity
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Fund Fiscal Year End Prospectus Date Date Began
Operations*
Diversified** Fund Investment
Category***
Emerging Markets Bond Fund August 31 1/1/2021 2/16/2006 No Taxable fixed income
Flexible Capital Income Fund May 31 10/1/2020 7/28/2011 Yes Flexible
Floating Rate Fund July 31 12/1/2020 2/16/2006 Yes Taxable fixed income
Global Opportunities Fund July 31 12/1/2020 1/28/1985 Yes Flexible
Global Technology Growth Fund August 31 1/1/2021 11/9/2000 Yes Equity
Global Value Fund February 28/29 7/1/2021 5/14/1984 Yes Equity
Government Money Market Fund July 31 12/1/2020 10/6/1975 Yes Taxable money market
Greater China Fund August 31 1/1/2021 5/16/1997 No Equity
High Yield Bond Fund May 31 10/1/2020 12/8/1983 Yes Taxable fixed income
High Yield Municipal Fund May 31 10/1/2020 3/5/1984 Yes Tax-exempt fixed-income
Income Builder Fund January 31 6/1/2021 2/16/2006 Yes Fund-of-funds – fixed income
Income Opportunities Fund July 31 12/1/2020 6/19/2003 Yes Taxable fixed income
Intermediate Municipal Bond Fund October 31 3/1/2021 6/14/1993 Yes Tax-exempt fixed-income
International Dividend Income Fund August 31 1/1/2021 11/9/2000 Yes Equity
Large Cap Enhanced Core Fund February 28/29 7/1/2021 7/31/1996 Yes Equity
Large Cap Growth Fund July 31 12/1/2020 12/14/1990 Yes Equity
Large Cap Growth Opportunity Fund February 28/29 7/1/2021 12/31/1997 Yes Equity
Large Cap Index Fund February 28/29 7/1/2021 12/15/1993 Yes Equity
Large Cap Value Fund May 31 10/1/2020 10/15/1990 Yes Equity
Limited Duration Credit Fund July 31 12/1/2020 6/19/2003 Yes Taxable fixed income
MA Intermediate Municipal
Bond Fund
October 31 3/1/2021 6/14/1993 No Tax-exempt fixed-income
Mid Cap Growth Fund August 31 1/1/2021 11/20/1985 Yes Equity
Mid Cap Index Fund February 28/29 7/1/2021 3/31/2000 Yes Equity
MM Alternative Strategies Fund August 31 1/1/2021 4/23/2012 Yes Alternative
MM Directional Alternative Strategies Fund April 30 9/1/2021 10/17/2016 Yes Alternative
MM Growth Strategies Fund March 31 8/1/2021 4/20/2012 Yes Equity
MM International Equity
Strategies Fund
August 31 1/1/2021 5/17/2018 Yes Equity
MM Small Cap Equity
Strategies Fund
August 31 1/1/2021 4/20/2012 Yes Equity
MM Total Return Bond
Strategies Fund
August 31 1/1/2021 4/20/2012 Yes Taxable fixed-income
MM Value Strategies Fund May 31 10/1/2020 4/20/2012 Yes Equity
MN Tax-Exempt Fund July 31 12/1/2020 8/18/1986 No Tax-exempt fixed income
Mortgage Opportunities Fund May 31 10/1/2020 4/30/2014 Yes Taxable fixed income
Multisector Bond SMA
Completion Portfolio
August 31 1/1/2021 10/29/2019 No Taxable fixed-income
Multi Strategy Alternatives Fund May 31 10/1/2020 1/28/2015 Yes Alternative
NC Intermediate Municipal Bond Fund April 30 9/1/2021 12/11/1992 Yes Tax-exempt fixed income
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Fund Fiscal Year End Prospectus Date Date Began
Operations*
Diversified** Fund Investment
Category***
NY Intermediate Municipal
Bond Fund
October 31 3/1/2021 12/31/1991 No Tax-exempt fixed-income
OR Intermediate Municipal
Bond Fund
July 31 12/1/2020 7/2/1984 Yes Tax-exempt fixed-income
Overseas Core Fund February 28/29 7/1/2021 3/5/2018 Yes Equity
Overseas SMA
Completion Portfolio
August 31 1/1/2021 9/12/2019 No Equity
Overseas Value Fund February 28/29 7/1/2021 3/31/2008 Yes Equity
Quality Income Fund May 31 10/1/2020 2/14/2002 Yes Taxable fixed income
Real Estate Equity Fund December 31 5/1/2021 4/1/1994 No Equity
SC Intermediate Municipal Bond Fund April 30 9/1/2021 1/6/1992 Yes Tax-exempt fixed income
Select Global Equity Fund October 31 3/1/2021 5/29/1990 Yes Equity
Select Large Cap Equity Fund February 28/29 7/1/2021 10/2/1998 Yes Equity
Select Large Cap Growth Fund March 31 8/1/2021 10/1/1997 Yes Equity
Select Large Cap Value Fund May 31 10/1/2020 4/25/1997 Yes Equity
Select Mid Cap Value Fund February 28/29 7/1/2021 11/20/2001 Yes Equity
Select Small Cap Value Fund May 31 10/1/2020 4/25/1997 Yes Equity
Seligman Global Technology Fund October 31 3/1/2021 5/23/1994 No Equity
Seligman Technology and Information Fund May 31 10/1/2020 6/23/1983 No Equity
Short Term Bond Fund March 31 8/1/2021 9/30/1992 Yes Taxable fixed income
Short Term Municipal Bond Fund April 30 9/1/2021 10/7/1993 Yes Tax-exempt fixed income
Small Cap Growth Fund August 31 1/1/2021 10/1/1996 Yes Equity
Small Cap Index Fund February 28/29 7/1/2021 10/15/1996 Yes Equity
Small Cap Value Fund I April 30 9/1/2021 7/25/1986 Yes Equity
Small Cap Value Fund II February 28/29 7/1/2021 5/1/2002 Yes Equity
Solutions Aggressive Portfolio March 31 8/1/2021 10/24/2017 Yes Alternative
Solutions Conservative Portfolio March 31 8/1/2021 10/24/2017 Yes Alternative
Strategic CA Municipal
Income Fund
October 31 3/1/2021 6/16/1986 Yes Tax-exempt fixed-income
Strategic Income Fund August 31 1/1/2021 4/21/1977 Yes Taxable fixed-income
Strategic Municipal Income Fund July 31 12/1/2020 11/24/1976 Yes Tax-exempt fixed income
Strategic NY Municipal
Income Fund
October 31 3/1/2021 9/26/1986 No Tax-exempt fixed-income
Tax-Exempt Fund July 31 12/1/2020 11/21/1978 Yes Tax-exempt fixed-income
Total Return Bond Fund April 30 9/1/2021 12/5/1978 Yes Taxable fixed-income
U.S. Social Bond Fund July 31 12/1/2020 3/26/2015 Yes Tax-exempt fixed-income
U.S. Treasury Index Fund April 30 9/1/2021 6/4/1991 Yes Taxable fixed-income
Ultra Short Term Bond Fund July 31 12/1/2020 3/8/2004 Yes Taxable fixed-income
VA Intermediate Municipal Bond Fund April 30 9/1/2021 9/20/1989 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 operation.
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** 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.
Name Changes. The table below identifies the Funds whose names have changed in the past five years, the effective date of the name change and the former name.
Fund Effective Date of Name Change Previous Fund Name
CA Intermediate Municipal Bond Fund May 14, 2019 Columbia AMT-Free California Intermediate Muni Bond Fund
CT Intermediate Municipal Bond Fund May 14, 2019
Columbia AMT-Free Connecticut Intermediate Muni Bond Fund
Global Value Fund June 9, 2021 Columbia Global Equity Value Fund
Government Money Market Fund October 1, 2016 Columbia Money Market Fund
Intermediate Municipal Bond Fund May 14, 2019
Columbia AMT-Free Intermediate Muni Bond Fund
International Dividend Income Fund September 2, 2020 Columbia Global Dividend Opportunity Fund
Large Cap Growth Opportunity Fund January 10, 2020 Large Cap Growth Fund III
Large Cap Value Fund February 28, 2018 Columbia Diversified Equity Income Fund
MA Intermediate Municipal Bond Fund May 14, 2019
Columbia AMT-Free Massachusetts Intermediate Muni Bond Fund
MM Alternative Strategies Fund February 28, 2017
October 12, 2016
Active Portfolios® Multi-Manager Alternatives Fund
Active Portfolios® Multi-Manager Alternative Strategies Fund
MM Directional Alternative Strategies Fund February 28, 2017 Active Portfolios® Multi-Manager Directional Alternatives Fund
MM Growth Strategies Fund February 28, 2017
Active Portfolios® Multi-Manager Growth Fund
MM Small Cap Equity Strategies Fund February 28, 2017 Active Portfolios® Multi-Manager Small Cap Equity Strategies Fund
MM Total Return Bond Strategies Fund February 28, 2017
Active Portfolios® Multi-Manager Total Return Bond Fund
MM Value Strategies Fund February 28, 2017 Active Portfolios® Multi-Manager Value Fund
Multi Strategy Alternatives Fund August 1, 2019
October 1, 2016
Columbia Alternative Beta Fund
Columbia Adaptive Alternatives Fund
NC Intermediate Municipal Bond Fund May 14, 2019 Columbia AMT-Free North Carolina Intermediate Muni Bond Fund
NY Intermediate Municipal Bond Fund May 14, 2019
Columbia AMT-Free New York Intermediate Muni Bond Fund
OR Intermediate Municipal Bond Fund May 14, 2019
Columbia AMT-Free Oregon Intermediate Muni Bond Fund
Quality Income Fund April 20, 2018 Columbia U.S. Government Mortgage Fund
SC Intermediate Municipal Bond Fund May 14, 2019 Columbia AMT-Free South Carolina Intermediate Muni Bond Fund
Select Large Cap Value Fund October 1, 2018 Columbia Select Large-Cap Value Fund
Select Mid Cap Value Fund July 1, 2018 Columbia Mid Cap Value Fund
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Fund Effective Date of Name Change Previous Fund Name
Select Small Cap Value Fund October 1, 2018 Columbia Select Smaller-Cap Value Fund
Seligman Technology and Information Fund June 9, 2021 Columbia Seligman Communications and Information Fund
Small Cap Growth Fund June 9, 2021 Columbia Small Cap Growth Fund I
Strategic CA Municipal Income Fund January 22, 2018 Columbia California Tax-Exempt Fund
Strategic NY Municipal Income Fund January 22, 2018 Columbia New York Tax-Exempt Fund
Ultra Short Term Bond Fund December 1, 2018 CMG Ultra Short Term Bond Fund
VA Intermediate Municipal Bond Fund May 14, 2019 Columbia AMT-Free Virginia Intermediate Muni Bond Fund
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FUNDAMENTAL AND NON-FUNDAMENTAL INVESTMENT POLICIES
The following discussion of “fundamental” and “non-fundamental” investment policies and limitations for each Fund supplements the discussion of investment policies in the Funds’ prospectuses. A fundamental policy may be changed only with Board and shareholder approval. A non-fundamental policy may be changed only with Board approval and does not require shareholder approval.
Unless otherwise noted in a Fund’s prospectus or this SAI, whenever an investment policy or limitation states a maximum percentage of a Fund’s assets that may be invested in any security or other asset, or sets forth a policy regarding an investment standard, compliance with such percentage limitation or standard will be determined solely at the time of the Fund’s acquisition of such security or asset (Time of Purchase Standard). Thus, a Fund may continue to hold a security even though it causes the Fund to exceed a percentage limitation or not meet a standard because of post-acquisition changes including fluctuation in the value of the Fund’s assets.
Notwithstanding any of a Fund’s other investment policies, the Fund, subject to certain limitations, may invest its assets in another investment company. These underlying funds have adopted their own investment policies that may be more or less restrictive than those of the Fund. Unless a Fund has a policy to consider the policies of underlying funds, the Fund may engage in investment strategies indirectly that would otherwise be prohibited under the Fund’s investment policies.
In adhering to the fundamental and non-fundamental investment restrictions and policies applicable to each of Commodity Strategy Fund, MM Alternative Strategies Fund and Multi Strategy Alternatives Fund, each such Fund will, to the extent possible, treat any assets of its Subsidiary generally as if the assets were held directly by the Fund.
For all series of CFST II, except Mortgage Opportunities Fund: Notwithstanding any of a Fund’s other investment policies, the Fund may invest its assets in an open-end management investment company having substantially the same investment objectives, policies, and restrictions as the Fund for the purpose of having those assets managed as part of a combined pool.
Notwithstanding the policies set forth in this SAI for Government Money Market Fund, the Fund will comply with the applicable provisions of Rule 2a-7 under the 1940 Act (Rule 2a-7).
Fundamental Policies
The table below shows Fund-specific policies that may be changed only with a “vote of a majority of the outstanding voting securities” of the Fund, which means the affirmative vote of the lesser of (1) more than 50% of the outstanding shares of the Fund, or (2) 67% or more of the shares present at a meeting if more than 50% of the outstanding shares are represented at the meeting in person or by proxy. The table indicates whether or not a fund has a policy on a particular topic. A dash indicates that the Fund does not have a Fundamental policy on a particular topic. The specific policy is stated in the paragraphs that follow the table.
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
J
Buy on
margin/
sell
short
Adaptive Retirement 2020 Fund A6 B9 C6 D14 F5 G5 H4 I1
Adaptive Retirement 2025 Fund A6 B9 C6 D14 F5 G5 H4 I1
Adaptive Retirement 2030 Fund A6 B9 C6 D14 F5 G5 H4 I1
Adaptive Retirement 2035 Fund A6 B9 C6 D14 F5 G5 H4 I1
Adaptive Retirement 2040 Fund A6 B9 C6 D14 F5 G5 H4 I1
Adaptive Retirement 2045 Fund A6 B9 C6 D14 F5 G5 H4 I1
Adaptive Retirement 2050 Fund A6 B9 C6 D14 F5 G5 H4 I1
Adaptive Retirement 2055 Fund A6 B9 C6 D14 F5 G5 H4 I1
Adaptive Retirement 2060 Fund A6 B9 C6 D14 F5 G5 H4 I1
Adaptive Risk Allocation Fund A7 B10 D15 F6 G4 H3 I6
Balanced Fund A7 B10 C7 D15 F6 G4 H3 I6
Bond Fund A7 B10 C7 D15 F6 G4 H3 I6
CA Intermediate Municipal Bond Fund A4 B5 C2 D6 E3 F3 G3 H2 I3
Capital Allocation Aggressive Portfolio A1 B1 C5 D2 F1 G1 H1 I1
Capital Allocation Conservative Portfolio A1 B1 C5 D2 F1 G1 H1 I1
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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
J
Buy on
margin/
sell
short
Capital Allocation Moderate Aggressive Portfolio A4 B5 C2 D6 F3 G3 H2 I3
Capital Allocation Moderate Conservative Portfolio A4 B5 C2 D6 F3 G3 H2 I3
Capital Allocation Moderate Portfolio A1 B1 C5 D2 F1 G1 H1 I1
Commodity Strategy Fund A1 B8 C5 D5 F1 G1 H1 I1
Contrarian Core Fund A7 B10 C7 D15 F6 G4 H3 I6
Convertible Securities Fund A4 B5 C2 D6 F3 G3 H2 I3
Corporate Income Fund A7 B10 C7 D15 F6 G4 H3 I6
CT Intermediate Municipal Bond Fund A7 B10 D15 E6 F6 G4 H3 I6
Disciplined Core Fund A1 B1 C1 D1 F1 G1 H1 I1
Disciplined Growth Fund A1 B2 C1 D1 F1 G1 H1 I1
Disciplined Value Fund A1 B2 C5 D1 F1 G1 H1 I1
Dividend Income Fund A7 B10 C7 D15 F6 G4 H3 I6
Dividend Opportunity Fund A1 B1 C1 D1 F1 G1 H1 I1
Emerging Markets Fund A7 B10 C7 D15 F6 G4 H3 I6
Emerging Markets Bond Fund A1 B3 D3 F1 G1 H1 I1
Flexible Capital Income Fund A1 B8 C5 D5 F1 G1 H1 I1
Floating Rate Fund A1 B3 C1 D4 F1 G1 H1 I1
Global Opportunities Fund A1 B1 C1 D1 F1 G1 H1 I1
Global Technology Growth Fund A7 B10 C6 D8 E13 F6 G4 H3 I6
Global Value Fund A1 B1 C1 D1 F1 G1 H1 I1
Government Money Market Fund A2 A2 C1 D13 F1 G1 H1 I1 J1
Greater China Fund A7 B10 C8 D15 F6 G4 H3 I6
High Yield Bond Fund A1 B1 C1 D1 F1 G1 H1 I1
High Yield Municipal Fund A7 B10 C7 D15 F6 G4 H3 I6
Income Builder Fund A1 B3 C5 D2 F1 G1 H1 I1
Income Opportunities Fund A1 B1 C1 D1 F1 G1 H1 I1
Intermediate Municipal Bond Fund A7 B10 C7 D15 E7 F6 G4 H3 I6
International Dividend Income Fund A7 B10 C7 D15 F6 G4 H3 I6
Large Cap Enhanced Core Fund A4 B5 C2 D6 F3 G3 H2 I3
Large Cap Growth Fund A7 B10 C7 D15 F6 G4 H3 I6
Large Cap Growth Opportunity Fund A4 B5 C2 D6 F3 G3 H2 I3
Large Cap Index Fund A4 B5 C2 D6 F3 G3 H2 I3
Large Cap Value Fund A1 B1 C1 D1 F1 G1 H1 I1
Limited Duration Credit Fund A1 B1 C1 D1 F1 G1 H1 I1
MA Intermediate Municipal Bond Fund A7 B10 D15 E8