At Columbia Management, we have acknowledged Puerto Rico’s credit challenges for a very long time — largely due to our belief that there is no easy way for the government to spark economic growth and enact meaningful fiscal reform. In addition, it is our understanding that a bailout from the U.S. federal government has not been offered, nor has it been considered. We continue to maintain limited to no exposure to PR in most of the accounts we manage as of March 31, 2014.
Two Columbia Management funds have received 2014 Lipper Fund Awards as top-performing mutual funds in their respective Lipper categories as of December 31, 2013.
Columbia Management today announced the launch of the Columbia Diversified Real Return Fund (CDRAX), an open-end fund designed to offer investors inflation protection through a diversified portfolio of inflation hedging and other assets. The fund is managed by Orhan Imer, Ph.D, CFA, and Jeffrey Knight, CFA.
A Morningstar analysis of Columbia Contrarian Core Fund was recently released, noting the fund’s historically consistent performance.
On Tuesday, February 4, Standard & Poor's lowered its long-term credit rating on the Commonwealth of Puerto Rico's general obligation (GO) debt from 'BBB- to BB+,' making it the first rating agency to downgrade the Commonwealth to below investment grade.
The Board of Trustees of Columbia Funds Series Trust has voted to convert Columbia International Value Fund, which invests all or substantially all of its assets in Columbia International Value Master Portfolio, into a stand-alone fund.
Portfolio Manager for Columbia Emerging Markets Bond Fund is featured in this November 2, 2013 reprint of Barron's.
Columbia Wanger Asset Management, a subsidiary of Columbia Management, announced today that effective April 1, 2014, the firm would implement succession plans.
Columbia Select Large Cap Growth Fund was featured in this October 6, 2013 reprint of New York Times.
Since publishing our June 2013 commentary on Puerto Rico's weakening financial health, the market for the Commonwealth's municipal bonds has been nothing but turbulent. Over the past several weeks, particularly following an August 2013 Barron's cover story highlighting Puerto Rico's persistently struggling economy and detailing widespread mutual fund exposure to Puerto Rico bonds, spreads widened considerably, with yields on longer-dated triple-tax-exempt Puerto Rico General Obligation (GO) debt trading in excess of 10% (from 7%) at times.
Columbia Select Large Cap Growth Fund was featured in this August 14, 2013 reprint of Investor's Business Daily.
The city of Detroit, Michigan filed for Chapter 9 bankruptcy protection on July 18th.
Columbia Management mutual funds do not hold any Detroit General Obligation (GO) debt or any other debt paid from the city's General Fund. Such securities appear to be put at greatest risk by the city's bankruptcy filing.
In December 2012, we expressed concern about Puerto Rico's fiscal health given its sizable and persistent structural budgetary imbalance, low pension funding ratios, increasing debt burden, weak economic conditions and uncertainty related to the newly elected governor's economic and fiscal policies. Since December, Puerto Rico's fiscal condition has weakened further and the new administration's approach to addressing the mounting fiscal challenges raises new concerns.
Each Columbia fund is required to update its prospectus on an annual basis. Beginning with June 2013 prospectus updates, shareholders of Columbia retail mutual funds will start to receive a summary prospectus, rather than the full length (statutory) mutual fund prospectus they have received in the past.
Columbia Management earned five 2013 Lipper Fund Awards as top-performing mutual funds in their respective Lipper categories as of December 31, 2012.
Columbia Acorn Fund was featured in this March 5, 2013 reprint of Barron's.
Columbia Management announced today that veteran portfolio manager Jeffrey L. Knight, CFA has joined the firm in a new position as Head of Global Asset Allocation.
Concerns about the Commonwealth of Puerto Rico's fiscal health are mounting, given its sizable and persistent structural budgetary imbalance, weak pension funding ratios, increasing overall net debt burden, poor economic conditions and concerns that the fiscal and economic policies of the newly-elected governor will undo prior progress.
The Columbia Dividend Opportunity Fund was featured in this November 5, 2012 reprint of Barron's.
Columbia Management received a top honor from the Mutual Fund Education Alliance (MFEA) at its annual STAR Awards.
Columbia Management today announced the launch of its new Future Scholar 529 College Savings Plan featuring more investment options, reduced fees and lower investment minimums.
Columbia Management today announced the appointment of Zach Pandl as Senior Interest Rate Strategist, a newly-created position at the firm.
Columbia Management today announced the launch of Columbia Risk Allocation Fund (CRAAX), an open-end fund focused on allocating risk, rather than capital, that seeks to generate consistent returns over time.
Five Columbia Management funds have received 2012 Lipper Fund Awards as top-performing mutual funds in their respective Lipper categories as of December 31, 2011.
Columbia Management has launched a social media program designed to help advisors better communicate with clients and prospects. Three social media outlets now feature easy-to-share news and insights in the form of blog entries, tweets and videos.
Exposure update for parent company of American Airlines as of November 29, 2011
BOSTON | November 30, 2011
As of November 29, 2011, Columbia Management equity, taxable fixed-income and money market retail mutual funds had no exposure to AMR Corporation, the parent company of American Airlines. Certain Columbia Management tax-exempt fixed-income retail mutual funds have minimal exposure to securities of AMR Corporation.
Exposure Update for Jefferson County, Alabama as of November 9, 2011
BOSTON | November 11, 2011
As of November 9, 2011, Columbia Management had minimal exposure to bonds issued by Jefferson County, Alabama.
Exposure Update for MF Global Holdings Ltd. as of September 30, 2011
BOSTON | November 4, 2011
As of September 30, 2011, Columbia Management fixed-income mutual funds and money market mutual funds had no exposure to MF Global Holdings Ltd.
Columbia Management Launches Emerging Market and European Funds
BOSTON | August 22, 2011
Columbia Management today announced the launch of two international equity funds: Columbia Acorn Emerging Markets Fund (CAGAX) and Columbia Acorn European Fund (CAEAX). The open-end mutual funds invest in companies with market caps under $5 billion. They are managed by Columbia Wanger Asset Management, which also manages Columbia Acorn International Fund (LAIAX) and Columbia Acorn International Select Fund (LAFAX).
Columbia Management Launches Flexible Capital Income Fund
BOSTON | August 1, 2011
Columbia Management today announced the launch of the Columbia Flexible Capital Income Fund (CFIAX), which seeks to provide income generation and capital appreciation. The fund's experienced management team takes an innovative approach to income investing by exploring asset classes not found in traditional balanced funds.
Management To Enter Active ETF Market
BOSTON | April 15, 2011
Columbia Management Investment Advisers, LLC, today announced an agreement to acquire Grail Advisors, LLC, a registered investment adviser that offers actively managed exchange-traded funds (ETFs). The deal will provide Columbia Management with active ETF capabilities, adding to its broad product line-up. Active ETFs combine the potential benefits of traditional ETF investing with active portfolio management.
Columbia Management Launches Absolute Return Funds
BOSTON | April 4, 2011
Columbia Management today announced the launch of two open-end mutual funds: The Columbia Absolute Return Multi-Strategy Fund (CMSAX) and the Columbia Absolute Return Enhanced Multi-Strategy Fund (CEMAX). The funds employ multiple strategies designed to help reduce overall portfolio volatility and generate positive (absolute) returns.
Management Earns Seven Lipper Fund Awards
BOSTON | March 24, 2011
Seven Columbia Management funds have received 2011 Lipper Fund Awards as top-performing mutual funds in their respective Lipper categories as of December 31, 2010.
Columbia Management Fund Shareholders
to Save Projected $30 Million Annually
BOSTON | September 28, 2010
Columbia Management announced that it expects fund shareholders to save approximately $30 million annually pending the implementation of fee change and fund merger proposals.
Current and future holdings are subject to risk.